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Chinese AI startup DeepSeek recently declared that its AI models could be very profitable — with some asterisks. In a post on X, DeepSeek boasted that its online services have a “cost profit margin” of 545%. However, that margin is calculated based on “theoretical income.” It discussed these numbers in more detail at the end of a longer GitHub post outlining its approach to achieving “higher throughput and lower latency.” The company wrote that when it looks at usage of its V3 and R1 models during a 24-hour period, if that usage had all been billed using R1 pricing, DeepSeek…

Time is ticking to get AI industry insights — and major savings. There are just two days left to save up to $325 and secure your spot at TechCrunch Sessions: AI. But act fast, this special offer ends on March 2 at 11:59 p.m. PT. TC Sessions: AI is an event like no other that will let you explore the AI industry with a focus on the startup ecosystem. Whether you’re a founder or an investor or you’re simply curious about the wild world of AI, join us on June 5 in Zellerbach Hall at UC Berkeley to get inspired…

Since its founding in 2021, OpenAI Startup Fund has raised $175 million for its main fund and secured an additional $114 million through five separate special purpose vehicles, which are investment pools for specific opportunities. Unlike many sizable tech companies, OpenAI says it doesn’t use the company’s money to invest in startups.  The ChatGPT maker says its OpenAI Startup Fund is raised from outside investors. This includes participation from significant OpenAI backer Microsoft, as well as “other OpenAI partners,” according to the fund’s website. The OpenAI Startup Fund, which is managed by a dedicated team, has so far invested in…

MILAN (AP) — Creative director Maximilian Davis designed Ferragamo’s co-ed collection for next winter with comfort and movement in mind.Inspired by both the late German neoexpressionist dancer Pina Bausch’s work and lifestyle, the collection previewed Saturday during Milan Fashion Week featured soft cashmere knitted into form-hugging long sheer dresses or bodysuit-and-legging combos, worn with playful furry flip flops. Shearling fur accented jackets and became panels on sheer dresses in a game of conceal and reveal. A big black faux fur was finished with a pair of glossy black leather bags belted at the hip. Leather and satin were draped to…

South Africa’s Keshav Maharaj said on Saturday that the team was “motivated” as they secured a spot in the Champions Trophy semi-final after a comfortable seven-wicket win over England. They top Group B and join Australia, India and New Zealand, with the fixture line-up to be confirmed when the latter two meet in Dubai on Sunday. The match was the last in charge for England captain Jos Buttler, who is to step down from his role after the side lost all three pool fixtures in the tournament. England were already out of the tournament going into the game and, after…

Mistral AI, the French company behind AI assistant Le Chat and several foundational models, is officially regarded as one of France’s most promising tech startups and is arguably the only European company that could compete with OpenAI. But compared to its $6 billion valuation, its global market share is still relatively low.  However, the recent launch of its chat assistant on mobile app stores was met with some hype, particularly in its home country. “Go and download Le Chat, which is made by Mistral, rather than ChatGPT by OpenAI — or something else,” French president Emmanuel Macron said in a…

Plunging Tesla shares in February shaved tens of billions off Elon Musk’s fortune. And Mark Zuckerberg became the world’s second richest person. Last update: March 1, 2025, 12 A.M. EDT While the Trump administration spent much of February working to slash federal employment, stocks sagged–and the world’s ten richest people collectively got $140 billion poorer. Elon Musk was the biggest loser of the bunch. Though he still holds onto his spot as the world’s wealthiest person, a sharp downturn in Tesla shares shaved $62 billion off his fortune, as the electric vehicle maker shed a remarkable one-quarter of its market…

A dozen and a half billionaires from across the world weigh in on the president’s newly proposed “gold card” visa. Most aren’t interested. By Forbes Wealth Team On Tuesday, Donald Trump announced a plan to sell $5 million “gold card” visas that offer permanent residency and work authorization in the U.S. “Wealthy people will be coming into our country by buying this card,” Trump told reporters in the Oval Office. “They’ll be wealthy and they’ll be successful.” Trump floated the plan, which he says will begin in two weeks, as a way to reduce the federal deficit. “We’ll be able…

ENGLAND captain Jos Buttler addresses a presser at the National Bank Stadium on Friday.—AFP KARACHI: On the eve of England’s dead-rubber Champions Trophy clash against South Africa, Jos Buttler’s resignation as white-ball captain dominated headlines on Friday, marking a poignant end to a turbulent two-year reign. The match, set for Satu­rday at Karachi’s National Bank Stadium, now carries the weight of an era’s closure for England, while South Africa eye a top-of-the-group finish to secure a smoother semi-final path. “I’m gonna stand down as England captain. It’s the right call for me, it’s the right call for the team,” Buttler…

LAHORE: The rains hadn’t returned and with the pitch and the outfield of the Gaddafi Stadium basking in the sun on Friday, the dreaded prospect of yet another washout at the Champions Trophy seemed to be, thankfully, quickly diminishing. Afghanistan fans had begun trickling into the stadium as the toss approached, some in their green and red turbans, others with their national flag draped around them. This was a virtual quarter-final against Australia, and having seen their side down England in a thriller two nights ago, the Afghans were hoping for more. There were also scores to settle: remember Glenn…