The First Citizens Bank & Trust Company (First Citizens) has made news by announcing the acquisition of a failed Silicon Valley Bank (SVB). The acquisition, which was announced on August 14th, is seen as a deal that can be beneficial to both banks, as it will provide SVB with the capital and liquidity it needs… Continue reading First Citizens to acquire failed Silicon Valley Bank
Category: svb
OpenAI unleashes
OpenAI recently unveiled the GPT-4 artificial intelligence language model, sparking heated conversations within the tech industry and beyond. GPT-4 was designed to mimic the way humans generate text, and it can be used in a range of applications such as for creatively generating ideas and for summarizing longer documents. The possibilities of this technology have… Continue reading OpenAI unleashes
OpenAI unleashes
Recent days have seen a variety of seemingly unrelated but nevertheless massive technological and financial developments, namely OpenAI’s release of GPT-4, SVB filing for bankruptcy, and a private equity firm’s takeover of Pornhub. On July 17th, OpenAI revealed GPT-4 (Generative Pre-trained Transformer 4), the fourth and newest incarnation of their revolutionary artificial intelligence language model.… Continue reading OpenAI unleashes
OpenAI unleashes
Today, a wave of technology news has left many people in awe. OpenAI has just unveiled GPT-4, the fourth generation of its revolutionary Generative Pre-trained Transformer language model. This announcement, which puts even more power in the hands of AI software, is likely to revolutionize the way humans use and understand natural language processing. At… Continue reading OpenAI unleashes
Emerging managers hope the new SVB offers the same support to new VCs
As venture capital firms become more established, there is growing need for new, emerging managers to get their start in the space. These firms face a number of challenges, including access to capital, finding experienced talent, and navigating the various regulatory requirements of the industry. This is where Silicon Valley Bank (SVB) comes in. SVB… Continue reading Emerging managers hope the new SVB offers the same support to new VCs
Daily Crunch: With just $2.2B in remaining liquidity, SVB’s parent company files for bankruptcy
Silicon Valley Bank’s parent company, SVB Financial Group, announced yesterday that it has filed for Chapter 11 bankruptcy with just $2.2 billion in remaining liquidity. This news comes as a huge shock to the financial world, as SVB Financial Group had been seen as a major player in the industry and a reliable source of… Continue reading Daily Crunch: With just $2.2B in remaining liquidity, SVB’s parent company files for bankruptcy
A $500 million term sheet in 12 hours: How Rippling struck a deal as SVB was melting down
When news of the global financial crisis began to hit Silicon Valley in the spring of 2008, venture capital firms felt the reverberations. But no firm felt the pressure more intensely than SVB Financial Group, a financial services company with a roster of venture capitalists who had been making big investments in startup companies for… Continue reading A $500 million term sheet in 12 hours: How Rippling struck a deal as SVB was melting down
Top crypto app downloads rise over 15% following SVB collapse
In the past few weeks, the crypto market has been abuzz with news of the collapse of major exchange SVB Crypto. The impact of the crash has been felt across the crypto-verse, with many exchanges like Binance and Kraken reporting increased volumes in the days that followed. But it seems like crypto app downloads have… Continue reading Top crypto app downloads rise over 15% following SVB collapse
Silicon Valley Bank’s New CEO to Clients: ‘We Are Conducting Business as Usual’
In recent news, Silicon Valley Bank announced that although current CEO Ken Wilcox is stepping down at the end of December, the company will still be conducting business in its usual manner under the direction of his successor. Since its founding in 1983, Silicon Valley Bank (SVB) has been a financial institution serving innovation and… Continue reading Silicon Valley Bank’s New CEO to Clients: ‘We Are Conducting Business as Usual’
U.S. Government Saves Tech’s Favorite Bank
In an unexpected move, the U.S. government has recently stepped in to save one of Silicon Valley’s most well known banks. On Wednesday, the Securities and Exchange Commission announced that it is taking the unusual step of using emergency powers granted under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 to prevent… Continue reading U.S. Government Saves Tech’s Favorite Bank