Toronto , Canada – 20 June 2024; Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024.
Artificial intelligence chip developer Cerebras said Monday that it has obtained clearance from a U.S. committee to sell shares to Group 42, a Microsoft-backed AI company based in the United Arab Emirates.
That clearance came from the Committee on Foreign Investment in the United States, or CFIUS, and it’s a key step for Cerebras in its effort to go public. Cerebras competes with Nvidia, whose graphics processing units are the industry’s choice for training and running AI models, but most of its revenue comes from a customer called Group 42.
Cerebras filed to go public in September but has not provided details on timing or size for the initial public offering. The regulatory overhang was tied to the company’s relationship with Group 42, which was the source of 87% of Cerebras’ revenue in the first half of 2024, made the IPO look uncertain.
“We thank @POTUS for making America the best place in the world to invest in cutting-edge #AI technology,” Andrew Feldman, Cerebras’ co-founder and CEO, wrote in a Monday LinkedIn post. “We thank G42’s leadership and the UAE’s leadership for their ongoing partnership and commitment to supporting U.S headquartered AI companies.”
Lawmakers have previously worried about Group 42’s connections to China. Last year Mike Gallagher, then a Republican member of Congress from Wisconsin, said in a statement that he was “glad to see G42 reduce its investment exposure to Chinese companies.” Microsoft later announced a $1.5 billion investment in Group 42.
Both Cerebras and Group 42 had given voluntary notice to CFIUS about the sale of voting shares, according to the Sunnyvale, California-based company’s IPO prospectus. Group 42 had agreed to buy $335 million worth of Cerebras shares by April 15, according to the prospectus. The two companies later changed the agreement to say Group 42 would be buying non-voting shares, prompting them to withdraw their notice, because they said they did not believe CFIUS had jurisdiction over sales of non-voting securities.
CFIUS did not immediately respond to a request for comment.
Just a handful of technology companies have gone public since 2021, as higher interest rates made unprofitable companies less desirable. But in recent months, Cerebras and a few technology-related companies have taken steps toward IPOs, and last week, AI infrastructure provider CoreWeavewent public.
CoreWeave shares fell 7% on Monday, its second day of trading.
Google DeepMind Demis Hassabis and Google co-founder Sergey Brin sat for an interview at Google I/O.
Jennifer Elias
Google on Tuesday announced that it’s getting back into the smart glasses game, and co-founder Sergey Brin said that this time will be different.
“I’ve learned a lot,” Brin said Tuesday at a fireside chat during the annual Google I/O developer conference.
His appearance came after Google announced a partnership with Warby Parker, which saw its stock rise more than 15% after the two companies said they plan to launch a series of smart glasses as soon as next year. The glasses will be built on top of Google’s Android XR, an operating system for headset computers, and they’ll include Google’s Gemini AI assistant that users can speak with to control the wearable devices.
Brin’s comments came in an impromptu appearance at a conference chat scheduled between Google DeepMind CEO Demis Hassabis and journalist Alex Kantrowitz about “the future of AI and its impact on our world.”
During the chat, Brin said that with the rise of generative artificial intelligence, Alphabet is able to revive the idea of Google Glass, the wearable devices the company launched in 2013 for $1,500.
“I definitely feel like I made a lot of mistakes with Google Glass, I’ll be honest,” Brin said, adding that he is still a big believer in the glasses form factor.
“And now it looks like normal glasses without that thing in front,” he said, referring to the visible camera that existed on the corner of the original Google Glass prototype.
Google co-founder Sergey Brin demonstrates Google’s new Glass, wearable internet glasses, at the Google I/O conference in San Francisco, Wednesday, June 27, 2012. The audience got live video feeds from their glasses as they descended to land on the roof of the Moscone Center, the location of the conference. (AP Photo/Paul Sakuma)
Paul Sakuma
Brin attributed the failure of Google Glass in part to “a technology gap.” Since 2013 when Google Glass was launched, the company has developed advanced AI technology that powers Gemini, its flagship AI product and a key component for users to control a wearable device.
“Now, in the AI world, the things these glasses can do to help you out without constantly distracting you — that capability is much higher,” he said.
Brin also said that during his first attempt at the Google Glass, he didn’t know anything about supply chains and how to get the glasses to a reasonable price point.
The Google co-founder’s comments come as companies race to compete for wearable glasses as a form factor for AI products. Meta partnered with EssilorLuxottica, the maker of Ray-Ban, to make smart glasses that have a camera for capturing photos and videos. Apple is reportedly working on smart glasses that use augmented reality.
Besides Warby Parker, Google on Tuesday said it will partner with developers and device makers for Android XR, including Samsung, Qualcomm, Sony, Xreal and Magic Leap. Google’s annual developer conference also included a number of updates to its AI products, including a new high-end subscription service called Google AI Ultra, which costs $249.99 per month.
Google announces Android XR and their partnerships with Gentle Monster and Warby Parker during Google’s annual I/O developers conference in Mountain View, California on May 20, 2025.
Camille Cohen | AFP | Getty Images
Glass was first sold to developers and early adopters and gained popularity mostly among tech enthusiasts. Despite backing from Brin and fellow Google co-founder Larry Page, the Glass project never caught on as a mainstream product. The built-in camera led to fights over privacy, and the product became the butt of jokes on late-night television. The company tried to re-launch it as an “enterprise” product, but Google in 2023 announced that it would stop selling its Glass Enterprise smart glasses.
Brin on Tuesday joked about the infamous skydivers that introduced the glasses at Google I/O in 2012, which took place at San Francisco’s Moscone Center. At the time, four Google employees skydived out of a plane, live streaming their jump through their Google Glasses.
“Honestly, it would have been even cooler here at Shoreline Amphitheater,” Brin said, referring to the Mountain View, California, venue that’s currently used by Google for the conference.
“But we should probably polish the product first,” he said, which drew laughs from the audience. “Then we’ll do a really cool demo. That’s probably the smart move.”
The Amazon Prime logo is displayed on Amazon delivery trucks in Richmond, California, June 21, 2023.
Justin Sullivan | Getty Images
Department of Justice officials on Tuesday charged members or associates of an Armenian organized crime ring with stealing more than $83 million worth of cargo from Amazon by posing as legitimate truck drivers and siphoning off goods destined for the company’s warehouses.
Since at least 2021, at least four people linked to the crime ring carried out a scheme across California to steal truckloads of merchandise, ranging from smart TVs and GE icemakers to SharkNinja vacuums and air fryers, the DOJ alleged.
“At present, Amazon is plagued by recurring thefts of its shipments, which is commonly referred to as ‘cargo theft,'” the complaint says.
Amazon has ramped up its efforts to track and shut down fraudulent, deceptive and illegal activities on its sprawling online store. Eliminating stolen goods is particularly challenging. CNBC reported in 2023 that Amazon suspended dozens of third-party merchants it alleged were selling stolen goods, though many of those sellers claimed they were unknowingly caught in the scheme, putting their businesses at risk of survival.
Amazon isn’t the only retailer afflicted by cargo theft. Experts told CNBC cargo theft-related losses are estimated at close to $1 billion or more a year.
In its complaint, the DOJ said the alleged fraudsters operated four transport carriers — AK Transportation, NBA Holdings, Belman Transport and Markos Transportation — that would obtain contracted freight routes from Amazon Relay, an application used by truckers to obtain work, also referred to as loads.
Each trucker is assigned a load for pickup from a manufacturer’s warehouse to be dropped off at an Amazon facility. Instead, the groups would divert from their designated routes, take a portion of the goods off the trucks and resell them or gift them to associates, prosecutors allege.
In some cases, the “self-styled carriers” would complete their deliveries at an Amazon warehouse several days after they were expected to show up, according to the complaint.
DOJ officials seized the alleged fraudsters’ iPhones and found photos and videos of warehouses lined with boxes of crockpots, Keurig coffee machines, keratin shampoo, Weber grills and other goods.
Amazon teams cooperated with DOJ officials in their investigation, including sharing information about the stolen goods, and details of the alleged fraudsters’ accounts on its online marketplace.
Representatives from Amazon didn’t immediately respond to a request for comment.
DOJ officials linked the defendants to a litany of other alleged crimes, including attempted murder, kidnapping, illegal firearm possession and health-care fraud. Several of the 13 defendants are expected to appear in a Los Angeles district court on Tuesday and Wednesday, while one of the defendants appeared in a court in Fort Lauderdale, Florida, on Tuesday and was detained.
Thomas Fuller | SOPA Images | Lightrocket | Getty Images
Apple approved the Epic Games title Fortnite on Tuesday, returning the first-person shooter game to the App Store in the U.S., five years after its removal.
Fortnite was kicked off the App Store in 2020 after Epic updated its game over the web to take payments directly, instead of through Apple’s in-app payment mechanism, which takes fees up to 30%. The move angered Apple and kicked off a years-long legal battle.
Last month, Epic scored a victory in court, when a judge ruled that Apple wasn’t allowed to charge a commission when apps link out for payment, or dictate whether the links look like buttons. Epic said last week that it had submitted Fortnite to the U.S. App Store. To return, Fortnite had to pass App Review, Apple’s process in which new apps or updates are reviewed by Apple employees to ensure they work and adhere to the company’s guidelines.
Apple had dragged out its approval process for the app since May 9, when Epic submitted it to Apple. Last week, Epic filed a legal challenge, and on Monday, a judge said that Apple had to explain why Fortnite hadn’t been approved yet or come to a resolution with Epic over the game’s status.
Apple is appealing the latest court order, and looking to get a pause enabling it to roll back changes the company has already made to the App Store in response. An Apple representative didn’t immediately return a request for comment.
Last month’s ruling led major app makers such as Amazon and Spotify to change their apps to accommodate links to buy content. For example, users can now buy Kindle books inside the Kindle app on an iPhone.
Amazon and Spotify were able to update existing apps that had already been approved with changes enabled by last month’s order. After Epic sued Apple, the iPhone maker revoked Epic’s developer account in addition to booting Fortnite.
Epic was able to get a European developer account and now offers Fortnite in Europe through a third-party app store under the Digital Markets Act, which went into effect last year. IPhone users can also play Fortnite through cloud gaming services. But even in Europe, Apple tried to terminate Epic’s account before backing off, Epic said.
The fees that Apple takes from the App Store are an increasingly important part of Apple’s business. They’re reported in Apple’s Services business, which also includes advertising, AppleCare warranties, payments, and subscription offerings such as Apple TV+. Apple reported nearly $27 billion in services revenue during the March quarter.