Anysphere's AI coding tool, Cursor, has seen its valuation rise from $400M to $2.5B since April, with monthly revenue reaching $4M. Open source projects are receiving significant equity-free funding from corporations, startups, and VCs. At WTM London, tourism leaders discussed the impact of AI on travel, emphasizing the need to balance technology with human connections. Finally, AI spending is expected to grow 1.7x faster than digital tech investments in the Asia-Pacific region, with a projected economic impact of $1.6 trillion by 2027.
Key takeaways:
- The U.S. Department of Commerce has restricted Taiwan Semiconductor Manufacturing Co. (TSMC) from shipping high-tech chips, 7nm and above, to Chinese companies.
- An AI-powered robot named Ai-Da sold a portrait of Alan Turing for $1.1 million at Sotheby’s, exceeding initial estimates of $120K–$180K.
- Chegg has lost over half a million subscribers since ChatGPT’s debut, with its stock down 99% from 2021 highs.
- Anysphere’s AI coding tool, Cursor, has seen its valuation skyrocket from $400M to $2.5B since April, with monthly revenue surging to $4M.