readwrite-rss

The Legend of Zelda: Echoes of Wisdom will still let you play as Link despite Zelda being the protagonist

The Legend of Zelda: Echoes of Wisdom is primed and ready to take the series where it hasn’t gone before… Continue reading The Legend of Zelda: Echoes of Wisdom will still let you play as Link despite Zelda being the protagonist
The post The Legend of Zelda: Echoes of Wisdom will still let you play as Link despite Zelda being the protagonist appeared first on ReadWrite.

The Legend of Zelda: Echoes of Wisdom is primed and ready to take the series where it hasn’t gone before – letting you play as Princess Zelda herself.

This has got fans of the franchise incredibly hyped as it not only mixes things up story-wise, there are also huge changes in gameplay mechanics.

You’ll be using Zelda’s magic Tri Rod to create Echoes, copying objects and enemies, and eliminating any foes in your path, in an effort to save the kingdom.

However, thanks to the ESRB rating for the game, we know now that you will still be able to play as Link.

Looking at that rating, while it does state that “players assume the role of Zelda” it also reveals that “as Link, players use a sword and arrows to defeat enemies”.

Now, while it does appear that you will in fact be able to don the iconic green outfit in Echoes of Wisdom, there’s no real suggestion as to how long for.

Since Zelda is the protagonist, and the whole story of the game being she will be saving Link, there definitely won’t be a character-switching mechanic in place.

What we believe is that the experience opens up with you being able to control Link, take on Ganon, and ultimately lose due to him succumbing to darkness, just as the first announcement trailer suggests.

At this point, the change to Zelda will take place, and you’ll likely just continue as the Princess for the rest of the game.

While this might anger some who want a Princess Zelda-only playthrough, if it fits into the story, and keeps those engaged who were sceptical, it’ll definitely be a good inclusion.

Granted, the above is speculation but is heavily inferred by that aforementioned trailer, so we’ll just have to wait and see the full extent of Link’s availability come release on September 26.

The post The Legend of Zelda: Echoes of Wisdom will still let you play as Link despite Zelda being the protagonist appeared first on ReadWrite.

Read More 

Long-dormant Bitcoin wallet awakens, moves $60M

On Sunday, a Bitcoin wallet that had been inactive for nearly 12 years suddenly sprang to life, transferring 1,000 BTC… Continue reading Long-dormant Bitcoin wallet awakens, moves $60M
The post Long-dormant Bitcoin wallet awakens, moves $60M appeared first on ReadWrite.

On Sunday, a Bitcoin wallet that had been inactive for nearly 12 years suddenly sprang to life, transferring 1,000 BTC (worth over $60 million) to a new address. This movement — detected by blockchain monitoring service Whale Alert — marks a significant event in the cryptocurrency world.

A dormant address containing 1,000 #BTC (59,989,823 USD) has just been activated after 11.8 years (worth 11,908 USD in 2012)!https://t.co/JOJTymSWal

— Whale Alert (@whale_alert) July 14, 2024

The wallet’s history is remarkable. It received the 1,000 BTC about 11 years and 9 months ago, when it was worth only $12,100. Since then, the value has increased by approximately 500,000%.

Interestingly, while the transaction was executed on Sunday, it was initially broadcast on January 19, 2024. This delay between broadcast and execution resulted in a substantial value increase, from $41.6 million to nearly $60 million, due to Bitcoin’s price appreciation.

The identity of the wallet owner and the reason for the transfer remain unknown. This event is part of a recent trend of dormant wallets becoming active.

Not an isolated case

Ten days prior, another 12-year-dormant wallet moved about $7 million. On May 12, a decade-old wallet transferred 1,000 BTC (over $60 million) in two transactions, and a week before that, 687.33 BTC (over $44 million) from another decade-old wallet was moved.

In March, the fifth-richest Bitcoin address, dormant since 2019, transferred $6 billion. During the same month, $140 million in Bitcoin mined in 2010 was consolidated into a single wallet. Earlier, in January, following the approval of spot Bitcoin ETFs in the U.S., nearly 50,000 dormant Bitcoin became active.

These dormant wallet transactions are of great interest to market observers for several reasons. Firstly, they provide insight into the behavior of long-term holders, often referred to as “Bitcoin whales.”

When these large holders move their assets after extended periods of inactivity, it can signal changing market sentiment or upcoming price movements. Their actions may influence other investors and potentially impact the overall market dynamics.

Furthermore, these transactions offer a unique glimpse into Bitcoin’s history and adoption. Many of these dormant wallets date back to the early days of cryptocurrency, when Bitcoin was far less valuable and less widely known.

The fact that these early adopters are now moving their funds could indicate a shift in their investment strategy or a response to current market conditions. Additionally, such movements can affect the circulating supply of Bitcoin, as coins that were effectively “lost” or out of circulation suddenly become active again.

This reintroduction of long-dormant Bitcoin into the market can have implications for liquidity and price stability, making these transactions a crucial factor for analysts to consider when assessing the broader cryptocurrency ecosystem.

The post Long-dormant Bitcoin wallet awakens, moves $60M appeared first on ReadWrite.

Read More 

Bitcoin surges following assassination attempt on Donald Trump

Bitcoin prices soared to a two-week high today, following yesterday’s shocking assassination attempt on former U.S. President and current presidential… Continue reading Bitcoin surges following assassination attempt on Donald Trump
The post Bitcoin surges following assassination attempt on Donald Trump appeared first on ReadWrite.

Bitcoin prices soared to a two-week high today, following yesterday’s shocking assassination attempt on former U.S. President and current presidential candidate Donald Trump.

The incident, which occurred during a campaign rally in Pennsylvania, has reportedly greatly boosted Trump’s chances in the upcoming election and led to increased interest in cryptocurrencies. Trump, who sustained a minor ear injury in the attack, is said to be recovering well according to his campaign.

The former president has positioned himself as a strong advocate for cryptocurrency, and some investors believe the attempt on his life may have strengthened his support base.

Attack on Trump’s effect on Bitcoin

As of this morning, Bitcoin (BTC) had risen 8.6% to $62,508, touching a two-week high of $62,698 earlier in the day. This surge brings Bitcoin’s year-to-date gains to an impressive 47%. Ethereum (ETH), another major cryptocurrency, also saw significant growth, up 6.8% at $3,322.

The cryptocurrency market’s response appears to be linked to Trump’s stance on digital assets. He has been critical of Democratic attempts to regulate the cryptosector and has presented himself as a champion for cryptocurrency. During a San Francisco fundraiser last month, Trump expressed support for crypto, though he has yet to provide specific policy proposals. Market analyst Tony Sycamore of IG told Reuters:

He’s certainly positioned himself as pro-crypto and as the odds of his reelection were galvanised by the shooting on the weekend, it’s certainly put a big boost underneath the bid in crypto markets and Bitcoin obviously, just an absolute standout.

The former president is scheduled to speak at the upcoming Bitcoin 2024 conference in Nashville, Tennessee, on July 27, which may further impact market sentiment. Bitcoin had already seen a strong start to the year following the launch of exchange-traded funds (ETFs) in the U.S., reaching a record high of $73,803.25 in mid-March.

However, it has faced challenges recently, including concerns over the potential dumping of coins from the defunct Japanese exchange Mt. Gox. Sycamore added:

We had four weeks of declines on the back of the Mt. Gox news … but the rebound, it looks to me like it’s got further to go and I wouldn’t be surprised seeing it head back up towards, at least towards $65,000 by the end of this week.

The post Bitcoin surges following assassination attempt on Donald Trump appeared first on ReadWrite.

Read More 

Honor launches ‘world’s slimmest’ AI-enhanced foldable phone

Honor, an offshoot of Huawei Technologies, has unveiled what it claims to be the thinnest foldable smartphone in the world,… Continue reading Honor launches ‘world’s slimmest’ AI-enhanced foldable phone
The post Honor launches ‘world’s slimmest’ AI-enhanced foldable phone appeared first on ReadWrite.

Honor, an offshoot of Huawei Technologies, has unveiled what it claims to be the thinnest foldable smartphone in the world, featuring artificial intelligence capabilities. The release is part of Honor’s strategy to penetrate the high-end market.

During a media briefing in Shenzhen following the product launch, Honor’s CEO George Zhao Ming stated that the slim design gives Honor a competitive edge in the expanding worldwide foldable smartphone market. This market includes both vertically opening clamshell models and booklet-style devices that unfold horizontally into tablets.

Fold, but don’t settle. #HONORMagicV2, still light-years ahead in the galaxy of foldables. pic.twitter.com/sfygo8OQvo

— HONOR (@Honorglobal) July 10, 2024

“Industry players are all working quickly with AI partners on the cloud [computing services] side, but it’s on-device AI that will make a difference,” he told a press event on Friday, the South China Morning Post reported. “But it’s meaningless to pursue thinness for the sake of it,” Zhao said. “It’s more important to enhance and utilise the capabilities of a phone that is fully unfolded.”

Honor Magic V3 features and price

Honor introduced the 5G-capable Honor Magic V3, a book-type foldable smartphone with a thickness of just 9.2 millimeters when folded and a weight of 226 grams, making it slimmer than similar models from Samsung and Huawei.

Priced at 8,999 yuan (approximately US$1,238), this new device is competitive in the premium market. Meanwhile, the basic Magic Vs3 model starts at 6,999 yuan ($964), featuring a folded thickness of 9.8mm and a weight of 229 grams.

Honor also showcased its innovative use of AI for eye protection, simulating a defocus lens to help mitigate myopia or degenerative short-sightedness, and improve compatibility with video and reading apps. Other AI features include advanced motion-capture photography and smart photo album organization.

The foldable market

According to an IDC report, while Apple dominates China’s premium smartphone market, Android manufacturers view foldable handsets as pivotal for competing with the iPhone in the high-end segment.

These devices, particularly those with AI features, are expected to drive a 3.1 per cent increase in China’s smartphone shipments in 2024, reaching 279 million units. Last year, Honor held a 6 per cent share of the premium market in mainland China, ranking third, as per Canalys.

In a major market shift, Huawei also overtook Samsung as the leading global seller of foldable smartphones in the first quarter, despite severe U.S. sanctions effective since 2019. Huawei’s foldable smartphone sales surged by 257 per cent year-on-year, capturing 35 per cent of the global market, surpassing Samsung’s 23 per cent.

Featured image: Honor

The post Honor launches ‘world’s slimmest’ AI-enhanced foldable phone appeared first on ReadWrite.

Read More 

Samsung unveils Galaxy Z Fold 6 and Z Flip 6 with new AI features

Samsung’s newly unveiled Galaxy Z Fold 6 and Galaxy Z Flip 6, are said to incorporate the latest One UI… Continue reading Samsung unveils Galaxy Z Fold 6 and Z Flip 6 with new AI features
The post Samsung unveils Galaxy Z Fold 6 and Z Flip 6 with new AI features appeared first on ReadWrite.

Samsung’s newly unveiled Galaxy Z Fold 6 and Galaxy Z Flip 6, are said to incorporate the latest One UI 6.1.1. The new interface brings several Galaxy AI features aimed at improving user productivity, including advanced image editing, content translation, QR code scanning, and solving math problems.

The announcement was made during Samsung’s Unpacked event on July 11, where the company also shared plans to extend these innovative features to older Galaxy smartphones and tablets. The rollout of One UI 6.1.1 to these devices means that more users can enjoy uniform and advanced functionality across the product line.

Annika Bizon, Omnichannel Strategy Director of the MX Division for the UK and Ireland, stated: “We also plan to roll out the new Galaxy AI features we announced today to select Galaxy devices by the end of the year.”

Samsung’s official website also highlights that some features introduced in the Galaxy Z Fold 6 and Z Flip 6 are already available in the Galaxy S24 series smartphones, bridging the gap between different generations of Samsung devices.

Galaxy AI features in Samsung Z Fold 6 and Z Flip 6

Translation mode

The interpreter mode takes advantage of the dual screens of the Samsung Fold and Flip for real-time bilingual conversations, allowing each user to view the translated transcript simultaneously.

Samsung is improving this feature by encouraging popular third-party apps to adopt its Live Translate technology, which allows for direct, real-time translations within calls made through Samsung’s own calling app.

Creator tools

Galaxy AI introduces a new feature for the Galaxy Z Fold 6 that transforms basic sketches into stylized artworks, making it an appealing tool for users who use the Fold for anything particularly creating. The Portrait Studio also has various artistic styles for portraits, such as 3D cartoons and watercolors, making it visually appealing to users.

I left Samsung a few weeks ago, but much of my work on Galaxy AI shipped today!
I’m especially proud of “Sketch to Image” coming to life, which automatically recognizes what you’re drawing for a “promptless” generative image experience https://t.co/dZYmoaIr7D pic.twitter.com/iue6AvUkrm

— Zain Shah (@zan2434) July 10, 2024

Sketch to image feature on the Galaxy Z Fold6, powered by Galaxy AI.

It works so well, even when the surrounding parts of the image are busy. pic.twitter.com/VUz6o7cbvW

— Alvin (@sondesix) July 11, 2024

 

Another feature, Instant Slow-mo, changes video content by automatically creating extra frames to slow down footage, adding a dynamic effect to videos.

The AI-powered ProVisual Engine upgrades photo quality by using the AI chip to analyze the subject of a photo. It then adjusts colors and sharpness to produce the best possible image based on what’s being captured.

On the Galaxy Z Flip 6, the FlexCam feature is complemented by Auto Zoom, which uses AI to automatically identify and focus on photo subjects, including background elements. This AI tool allows the camera to pan in and out, adjusting the frame for optimal composition, and make sit easier to take high-quality, hands-free photography that uses the phone’s clamshell design.

Chat Assist

Samsung optimized its Chat Assist feature for the Galaxy Z Flip 6’s cover display, enabling AI predictive text for quick responses to messages.

The Keyboard’s Composer now generates text suggestions for emails and social media posts, adapting to the user’s tone through previous messages for more personalized communication.

Google Gemini integration with Samsung

In February, Google introduced Gemini for Android, an advanced AI assistant far better than the standard pre-installed options. This tool is now integrated into Samsung’s Galaxy Z series, so users can activate the assistant by swiping the screen corner or using the voice command, “Hey, Google.”

Using the Gemini app brings up an overlay, which offers personalized AI assistance for tasks like composing emails or texts. Its multimodal function provides answers related to on-screen text or images. The Circle to Search feature, activated by pressing the home button, allows users to highlight parts of an image to initiate real-time search results, making it a far more interactive experience.

Today at #SamsungUnpacked, we announced AI-powered updates to Gemini + Circle to Search, coming to the @SamsungMobile Galaxy lineup. We’ll continue to partner with Samsung to build great mobile experiences on all Android devices, from tablets to wearables. https://t.co/YPUeUxHCNh pic.twitter.com/KkjBAPbN4O

— Sundar Pichai (@sundarpichai) July 10, 2024

In January, Janghyun Yoon, the Head of the Software Office for Samsung Electronics’ Mobile eXperience Business, stated: “Google and Samsung have long shared deeply held values around the importance of making technology more helpful and accessible for everyone. We’re thrilled that the Galaxy S24 series is the first smartphone equipped with Gemini Pro and Imagen 2 on Vertex AI.

“After months of rigorous testing and competitive evaluation, the Google Cloud and Samsung teams worked together to deliver the best Gemini-powered AI experience on Galaxy.”

Featured image: Samsung

The post Samsung unveils Galaxy Z Fold 6 and Z Flip 6 with new AI features appeared first on ReadWrite.

Read More 

OpenAI’s ‘Strawberry’ AI model aims for advanced reasoning – reports

OpenAI, supported by Microsoft, is reportedly developing an undisclosed AI model named “Strawberry” to significantly improve AI reasoning skills, which… Continue reading OpenAI’s ‘Strawberry’ AI model aims for advanced reasoning – reports
The post OpenAI’s ‘Strawberry’ AI model aims for advanced reasoning – reports appeared first on ReadWrite.

OpenAI, supported by Microsoft, is reportedly developing an undisclosed AI model named “Strawberry” to significantly improve AI reasoning skills, which can help it conduct independent research on the Internet. The initiative, as revealed by Reuters and previously unreported, shows the company’s push to advance the reasoning abilities of its models, known as artificial general intelligence (AGI).

The specifics of the project, including the timeline for public availability, remain a closely guarded secret even among OpenAI staff. According to documents that Reuters could not date, Strawberry aims to power OpenAI’s artificial intelligence to perform “deep research” by autonomously navigating the internet. This would allow the AI to respond to user queries, as well as anticipate and gather information independently.

When approached about the project and its details, an OpenAI spokesperson stated, “We want our AI models to see and understand the world more like we do. Continuous research into new AI capabilities is a common practice in the industry, with a shared belief that these systems will improve in reasoning over time.” However, they did not directly respond to inquiries regarding the specifics of Strawberry.

What is OpenAI’s Strawberry model?

Strawberry, reportedly an upgrade of OpenAI’s earlier Q* project, is believed to be a significant leap in AI development. Q* had stirred internal debates and was linked to the temporary dismissal of CEO Sam Altman in November 2023, according to insiders.

Bloomberg reports that OpenAI leaders have outlined a progression framework for AI capabilities, currently placing the company at the initial “Reasoners” level with ChatGPT-4. The stage is characterized by AIs that can solve basic problems as effectively as a highly educated human without tools. The subsequent stages include “Agents,” where AI can autonomously perform tasks over several days, and “Innovators,” capable of devising new technologies.

The ultimate tier, “Organizations,” represents AI systems that can work with comprehensive autonomy and complexity. These stages sketch the path towards achieving full AGI, demonstrating OpenAI’s vision for the future of AI technologies.

Featured image: Ideogram

The post OpenAI’s ‘Strawberry’ AI model aims for advanced reasoning – reports appeared first on ReadWrite.

Read More 

How to dismantle weapons in The First Descendant

As you’re making your way through The First Descendant, you’ll be acquiring more and more gear that you may not… Continue reading How to dismantle weapons in The First Descendant
The post How to dismantle weapons in The First Descendant appeared first on ReadWrite.

As you’re making your way through The First Descendant, you’ll be acquiring more and more gear that you may not know what to do with.

More specifically, you’ll more than have a few weapons in your inventory, and when you have secured your best loadout, you’ll likely want to get rid of the rest.

Here, we’ll teach you how to dismantle weapons in The First Descendant so you can clean up your stores and get rid of any clutter.

How to dismantle weapons in The First Descendant

To dismantle weapons in The First Descendant, you must enter your inventory, select which weapons you want to dismantle using the J key/R2, and then hold Ctrl/R2. You’ll then be presented with a screen showcasing what you’ll receive and you can press Spacebar/X to confirm your choice.

Now, this is the best way of dismantling weapons if you want to do so individually but you can speed the process up if you have a whole bunch you’d like to destroy.

To do this, hit Shift/R3 which will select all of your weapons in your inventory as junk. You can then just hold Spacebar/R2 and all of them will be taken to the scrap heap.

If you don’t want to dismantle your whole inventory, just hit J/R2 to deselect and you’ll still be able to get rid of most in one fell swoop.

One thing to note here is that if you do use the select all method, this will never choose an Ultimate weapon, so there’s no need to worry about accidentally removing one of the better guns you’re saving for a rainy day.

You wouldn’t really want to dismantle your Ultimate weapons anyway since you’ll be able to use them to power up other Ultimate weapons as you progress.

Other The First Descendant guides you may like

How to unlock Bunny
How to get Blair
How to get Void Shards
The First Descendant max level
How to find and open Encrypted Vaults
How to fast travel
The First Descendant Twitch Drops
The First Descendant beta rewards

The post How to dismantle weapons in The First Descendant appeared first on ReadWrite.

Read More 

Pro studio Authentic Simulation working on ‘The largest drivable open-world project ever’ mod for Assetto Corsa

Assetto Corsa is almost old enough to be heading off to High School yet the popular racing sim has grown… Continue reading Pro studio Authentic Simulation working on ‘The largest drivable open-world project ever’ mod for Assetto Corsa
The post Pro studio Authentic Simulation working on ‘The largest drivable open-world project ever’ mod for Assetto Corsa appeared first on ReadWrite.

Assetto Corsa is almost old enough to be heading off to High School yet the popular racing sim has grown up so unbelievably over the last few years due to its thriving modding scene playing it now you could be fooled into thinking it was born yesterday.

Despite new challengers on the horizon such as Rennsport and even Assetto Corsa Evo from its own stable, the original AC has so much new content available for it outside the scope of the original release, that it is going to be difficult to knock off its perch for some time yet.

That is why professional modding studio Authentic Simulation is going all in on what it hopes will be the “last great mod for Assetto Corsa” as it prepares to look to a forthcoming Kickstarter campaign to back a fully drivable version of Portugal.

The video below shows this is no nebulous wish, a ton of work has already been done before the Kickstarter so that backers will be able to get their hands on something immediately. The cash raised from the crowdfunder will go towards bringing more people on board and fleshing out over 500km of roads, around which about 120km of them already exist.

The “Portugal Openworld Project for Assetto Corsa will be the largest drivable open world ever created,“ said the devs, and with previous form bringing content to Assetto Corsa, BeamNG, and Rennsport, the team is well placed to make this a spectacular addition to AC.

There is also mention in the video about the possibility of even using the map in a standalone game in the future, but this is not within the initial scope of the map which is based on real-life road, topographical, and building data.

One of the interesting points mentioned is that every player will have their own unique, customizable starting building that you will be able to make changes in and will, in effect, be “owned” by you – although the team was at pains to point out that it is not in the NFT sense. It will be yours and yours alone, but you will not “own” it as such.

The video above is an announcement video really but with a lot of insane detail. The Kickstarter is due to launch soon, and we will bring you more details on it when we get them.

The post Pro studio Authentic Simulation working on ‘The largest drivable open-world project ever’ mod for Assetto Corsa appeared first on ReadWrite.

Read More 

New Aliens: Fireteam Elite game sequel rumored for 2025 release

There is speculation suggesting that a sequel to the 2021 video game “Aliens: Fireteam Elite” may be in the works,… Continue reading New Aliens: Fireteam Elite game sequel rumored for 2025 release
The post New Aliens: Fireteam Elite game sequel rumored for 2025 release appeared first on ReadWrite.

There is speculation suggesting that a sequel to the 2021 video game “Aliens: Fireteam Elite” may be in the works, with a potential release set for 2025. The rumor was fueled by leaked screenshots of a document on social media platforms, including Reddit, detailing what could be the next installment in the Alien game series. This possible sequel, named “Project Macondo,” is said to introduce new gameplay features such as “Annihilation,” a variant of the Horde Mode popular in other shooters, filled with Xenomorph challenges.

The information comes as it was revealed that 1 Tebibyte (around 1.1TB) of data was lifted from Disney’s servers, which includes information on unreleased games, images, internal messaging, and pretty much everything.

The Alien franchise is already anticipating a new game launch at the end of 2024. This upcoming release, titled “Alien: Rogue Incursion,” marks the series’ debut on virtual reality platforms and is under development by Survios. “Alien: Rogue Incursion” is expected to cater to VR enthusiasts with immersive gameplay and new features.

Meanwhile, the 2025 game, still under wraps, appears to be tailored for fans of action-based experiences. It is promising to build on the legacy of its predecessors while introducing fresh elements to the franchise.

Aliens: Fireteam Elite 2 Leaked
byu/firemonkey11 inAliensFireteamElite

What is the new Aliens game about?

The apparent sequel to “Aliens: Fireteam Elite” is reportedly set to widen the scope of the original game by introducing improved mechanics, new adversaries, new weaponry, and more game modes, alongside a fresh story.

Unlike its predecessor’s personalization features, the new installment may have “fixed preset character archetypes and non-customizable characters,” in contrast to the weapon customization that players enjoyed in the first game. The sequel is also expected to rely on console voice chat applications, moving away from the in-game voice chat feature used previously.

Interestingly, the leaked document outlining the details suggests a departure from the usual gaming monetization strategies, such as micro-transactions, loot boxes, and gacha systems, which have faced widespread criticism in recent years.

However, whether the document is authentic remains unconfirmed as it appears to have been created some time ago, and its contents might have changed during the development process. As of now, there is no official confirmation from Cold Iron Studio regarding the development of a new Alien video game.

If this sequel to “Aliens: Fireteam Elite” is indeed in development, it is hoped that there will be more information soon. The documents suggest that the game is aiming for a release window between July and September of 2025 and is expected to be available on PlayStation, Xbox, and PC platforms.

Featured image: Canva / Ideogram

The post New Aliens: Fireteam Elite game sequel rumored for 2025 release appeared first on ReadWrite.

Read More 

Google plans biggest acquisition yet, cybersecurity firm Wiz – report

Google is reportedly nearing a monumental acquisition of cybersecurity startup Wiz for approximately $23 billion, marking its largest purchase. This… Continue reading Google plans biggest acquisition yet, cybersecurity firm Wiz – report
The post Google plans biggest acquisition yet, cybersecurity firm Wiz – report appeared first on ReadWrite.

Google is reportedly nearing a monumental acquisition of cybersecurity startup Wiz for approximately $23 billion, marking its largest purchase.

This potential deal outstrips its previous record of $12.5 billion paid for Motorola Mobility in 2012. Wiz, originating from Israel and currently based in New York, stands out as one of the world’s rapidly expanding software startups. It specializes in cloud-based cybersecurity services that include real-time threat identification and mitigation, using advanced artificial intelligence technology.

In 2023, Wiz reported revenues of around $350 million and worked with 40 per cent of Fortune 100 companies, as per its website. The company recently secured $1 billion in private funding, bringing its valuation to $12 billion.

Google, aiming to develop its cloud computing offerings, has previously acquired several companies, including the $5.4 billion purchase of cybersecurity firm Mandiant in 2022, and Siemplify, another cybersecurity entity. Wiz has partnered with major tech players like Amazon, Microsoft, and Oracle, and has a customer base that includes prominent firms such as Morgan Stanley and DocuSign.

Could Google’s acquisition of Wiz face issues?

If Alphabet, Google’s parent company, moves ahead with its acquisition of Wiz, it would mark a major, albeit rare, mega-deal within the tech industry under the intense regulatory gaze of U.S. President Joe Biden’s administration. This period has seen a noticeable tightening in regulatory attitudes towards the expansion of large tech entities through mergers and acquisitions.

The U.S. Justice Department has actively pursued Google with two major antitrust lawsuits—one challenging its dominance in search engines and another aimed at dismantling its digital advertising technology sector. A decision on the search lawsuit is anticipated by this summer.

According to The New York Times, the initiative to buy Wiz has been spearheaded by Thomas Kurian, CEO of Google Cloud. Kurian is keen on boosting his division’s ties to cybersecurity, which the Wiz acquisition could substantially support. The startup, which counts top firms like BMW and Slack among its clients, focuses on mitigating security risks for companies using cloud computing services.

Featured image: Canva / Ideogram

The post Google plans biggest acquisition yet, cybersecurity firm Wiz – report appeared first on ReadWrite.

Read More 

Scroll to top
Generated by Feedzy