StrictlyVC News: X Down, Meta Book, OpenAI Deal

Elon Musk attributed the X outage to a "massive cyberattack," suggesting it was potentially the work of a large, coordinated group or even a country. He claimed this external malicious activity was the reason for the platform being unavailable to many users.President Trump stated that the U.S. is engaged in discussions with four different groups regarding a possible sale of TikTok. This suggests ongoing negotiations and potential changes in the ownership structure of the popular social media platform within the United States.Tesla's stock experienced a significant drop of 15% on the reported day, marking its worst single day of trading since September 2020. This indicates a substantial negative shift in investor confidence for the electric vehicle company on that particular day.OpenAI has signed a five-year, $11.9 billion agreement with CoreWeave, a cloud service provider specializing in GPUs. This includes OpenAI receiving $350 million worth of equity in CoreWeave. The deal is significant as it provides OpenAI with crucial computing resources for AI development and helps CoreWeave diversify its customer base beyond Microsoft, potentially improving its IPO prospects.Two companies with significant funding rounds are: 4C Medical, which raised $175 million to develop minimally invasive treatments for structural heart diseases, particularly mitral regurgitation; and Nirvana Insurance, a commercial trucking insurance startup utilizing AI and telematics, which raised $80 million.ServiceNow, a company providing enterprise workflow automation, is acquiring Moveworks for $2.85 billion in cash and stock. Moveworks uses artificial intelligence to help businesses streamline IT support, HR, and other enterprise workflows.The new book is titled Careless People. It alleges that Sheryl Sandberg crossed professional boundaries and that Meta considered sharing user data with China.Former Google CEO Eric Schmidt is the new CEO of Relativity Space. The company aims to build low-cost, reusable rockets to compete with companies like SpaceX and Blue Origin in the space launch market.D-ID is an eight-year-old Tel Aviv startup that specializes in generating and animating digital avatars using deep learning and image processing. The company is laying off 22 employees, which is approximately 25% of its workforce.A significant trend in U.S. tech job postings this year is the high demand for employees with artificial intelligence skills, with nearly 1 in 4 tech jobs seeking such expertise.