• WWW.ZDNET.COM
    The best TVs of CES 2025 (so far): New models from Samsung, LG, and more
    Samsung Micro LED TV at CES 2025 Kerry Wan/ZDNETThe Consumer Electronics Show (CES) kicked off today, and we've already seen someimpressive tech. From phone chargers and headphones to gaming laptops and office desktops, brands are unveiling new, innovative features, machine-learning integration, and a host of hardware and software updates across the board.Read more:The best CES 2025 tech you can buy right nowOur favorite TV brands are no exception. Samsung, LG, Hisense, and TCL have all announced additions to their 2025 line-ups, with new models boasting updated OLED and QD-Mini LED panels, enhanced picture and audio processing, and in one case, total wireless power and connectivity. While there's plenty more to come as CES unfolds, we've rounded up our top picks from what we've seen up-close and personal on the show floor.1. LG G5Best overall TV at CES 2025 Kerry Wan/ZDNETLG has been the king of OLED TVs for some time now, and this year's unveiling of the G5 OLED at CES aims to keep it on the throne.Along with an improved OLED panel for signature picture quality, it uses LG's Brightness Booster Ultimate and LG's Filmmaker Mode with ambient light compensation, which monitors your living room or home theater's lighting and adjusts your TV's brightness accordingly. And console gamers will love the 165Hz refresh rate and support for both Nvidia G-Sync and AMD FreeSync Premium VRR.Read more:Two flagship LG OLED TVs released at CES 2025: Specs, best new features, and moreWhile an official release date and price haven't been confirmed, we expect the new G5 OLED to be priced similarly to the current G4, which retails for $2,800 for the 65-inch version.2. TCL QM6KRunner-up best TV at CES 2025 Kerry Wan/ZDNETTCL has started to cement itself as a serious competitor for bigger TV brands like Samsung and Sony, and the new QM6K is a good reason to switch brands if you haven't already. With screen sizes from 65 to 98 inches, you'll be able to find a screen that fits your home theater perfectly.Also: TCL won the opening of CES 2025 with a great new TV you can actually preorderAnd the new QD-Mini LED panel gives you color accuracy, detailing, and contrast almost on-par with flagship OLED models. It also sports a 144Hz refresh rate and support for AMD FreeSync VRR. And unlike its competitors, you can actually preorder the QM6K right now at TCL's website.3. Samsung S95FBest OLED TV at CES 2025 Kerry Wan/ZDNETSamsung's newest version of its flagship OLED, the S95F, was unveiled at CES 2025 and Samsung calls it the "world's brightest" OLED TV. Along with an improved OLED panel for better brightness, color accuracy, and detailing, the S95F features a 165Hz refresh rate that's perfect for console gamers, a glare-free screen, and an updated, AI-assisted processor for faster loading of your apps and better picture and audio processing.Also:Every Samsung TV announced at CES 20254. Displace BasicBest innovative TV at CES 2025 June Wan/ZDNETDisplace is a TV startup that aims to shake up the market with what it's billing as the world's first truly wireless TV. The Displace Basic is available in 27- and 55-inch screen sizes, making it perfect as a main screen in your home theater or a secondary TV in your office or bedroom.With its innovative mounting system, you don't need specialized tools or a dedicated TV mounting plate to put the Displace Basic pretty much wherever you'd like. An internal battery and Bluetooth connectivity mean you don't even need to plug the TV into the wall to get it to work or physically connect your playback devices to enjoy music, videos, and photo slide shows.If you're intrigued by the Displace Basic, the Pro version is available in the same screen sizes and also comes bundled with a soundbar that doubles as an extra battery.Read more:Displace's truly wireless 4K TV is getting a soundbar that doubles as extra battery life5. Hisense 116UXBest 100-inch TV of CES 2025 HisenseLike TCL, Hisense is trying to leave their "budget brand" reputation behind, and it's doing so with not only incredible models like the Hisense U8N, but with truly cinema-sized screens like its newly unveiled Hisense 116UX.With an impressive 116-inch screen, the 116UX uses thousands of RGB optical lenses for not only color accuracy but also local dimming to give you the best picture possible in a 100+ inch television. And with a peak brightness of 10,000 nits, you'll never have to worry about harsh ambient or overhead light ruining your viewing experience. It also integrates a 6.2.2CH speaker system, Dolby Atmos, and Dolby Vision IQ for room-filling sound and enhanced contrast.Read more:Hisense's 116-inch TriChroma LED TV promises widest color gamut ever in a Mini LED display What is CES? The Consumer Electronics Show (CES) is a yearly tech trade show and expo held in Las Vegas. Brands across all areas of tech from laptops and smartphones to TVs and earbuds take the opportunity to announce upcoming product releases as well as innovative concepts for the speculative future of tech. Show more When is CES 2025? CES 2025 is open from Tuesday, January 7 to Friday, January 11; members of the press were invited a few days ahead of the event for dedicated panels and Q&A sessions. Show more Is it worth preordering CES TVs? It can be. If you've been looking to upgrade your TV anyway, a preorder is a good way to get a bigger screen, more features, or premium tech like OLED panels at locked-in prices if brands and retailers offer a preorder price guarantee. But being an early adopter can have its downsides, since software and hardware upgrades may have unforeseen issues when put into real-world use. It will take time to roll out firmware patches or for you to box the TV back up to return for a refund or exchange.If you've bought a smart TV within the last five years, you can still get quite a bit more time out of your current setup if you make sure to stay on top of firmware and security updates. And with such a recent purchase, newly announced TVs may not have enough new or innovative features that you'll need or want to use. Unless you're a die-hard cinephile who agonizes over color accuracy percentages, refresh rates and latency times, and borderline incomprehensible technical specs of different OLED substrates and bulb combinations, you're not likely to get much more out of a simple picture processing algorithm refresh or bump in hertz as what you're already using. Show more CES 2025
    0 Comments 0 Shares 116 Views
  • WWW.ZDNET.COM
    TCL shocked CES 2025 by launching a great TV you can actually preorder
    With the new QM6K TV, TCL brings its unique Mini LED technology at an aggressive price for a premium entry-level TV. And in a rarity for CES, it's immediately available to preorder.
    0 Comments 0 Shares 111 Views
  • WWW.FORBES.COM
    Is Your Organization AI-Native?
    A person has a conversation with a Humanoid Robot from AI Life, on display at the Consumer ... [+] Electronics Show (CES) in Las Vegas, Nevada on January 10, 2024. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)AFP via Getty ImagesYesterday brought an announcement from Sam Altman (CEO of OpenAI) that they have a line of sight to Artificial General Intelligence (AGI). In this announcement, Sam Altman noted that, in 2025, we may start to see AI agents join the workforce. As a business leader, you may be wondering what this frenetic pace of AI innovation means for your business. One place to start is to ask - is my organization AI Native?AI Adoption Best Practices - Past and PresentBefore the recent arrivals of Generative AI and Large Language Models, adopting AI in an organization focused on finding an important business problem that AI can assist with, building or leveraging an AI model for this problem, and iterative improvement of the solution. While this remains a good goal, the ubiquity of productivity improvement AIs in the last few years has created another adoption opportunity - leveraging AI in the everyday operations of your business and work.AnalogiesTo understand what it means to be AI Native, consider other examples. Depending on what your business does, it is still safe to say that in this day, many businesses are phone native and internet native.Your employees know how to use phones and the internet as needed to do their jobs as effectively as possible.You have some rules on proper usage of these technologies (such as not putting company private data on the internet), provide some tools for all employees to use, and rely on employee selection for other tools.You assume that an employee knows how to use these tools and how to be productive with them.Imagine your business for a day without these tools. How much less productive would you be?What Does AI Native Mean?Armed with these analogies, we can start to define AI Native. I consider an AI Native organization to be one where AI exists seamlessly at every level and aspect of the business, with humans using AI tools to accelerate, offload and automate any part of the business for which the tools generate value. Much like phones and the internet, humans will decide when and how to use AI, and will understand enough about the tools to decide what to do and how to do it.MORE FOR YOULevels Of AI NativeAs you begin to consider either introducing or expanding your AI footprint, consider the following levels to assess where you are and where you can go in each part of your business.Level 0: Employees do not use AI anywhere.Level 1: Employees do the work with various tools, and manually consult an AI (such as ChatGPT) to get answers or learn how to do things.Level 2: AI does some of the steps of a workflow autonomously, in collaboration with humans.Level 3: AI does end-to-end workflows autonomously, with oversight by humans.Getting StartedThe key is to understand what workflows exist in your business, how much automation with AI can help, what level of AI-Native each section of your business is at, and how to work with your teams to brainstorm what the next level of AI Native means to them.It is also worth noting that becoming AI Native will be as much of a cultural shift in a business as remote work, cell phones, or the internet were. Employees will need support on how to be successful with AI, how to measure success, and how do operate safely and ethically. Also given the sheer volume of new AI technologies and the pace at which new AI technologies develop, just helping your employees know what is out there can help drive effective adoption.It will be a continual and iterative journey, but getting started will help your business reap the benefits of AGI or whatever else comes our way.
    0 Comments 0 Shares 122 Views
  • WWW.FORBES.COM
    Samsung Confirms Galaxy S25 Ultra Release Dates
    Update, Tuesday, Jan. 7, 2025: With details on the Galaxy S25 pricing and implications for the S25 Ultra.The Samsung Galaxy S24 Ultra smartphone (Photo by JUNG YEON-JE/AFP via Getty Images)AFP via Getty ImagesSamsung will host its latest Galaxy Unpacked launch event later this month, and the Samsung community will get it first look at the presumptively named Galaxy S25, Galaxy S25+ and Galaxy S25 Ultra. When can they expect to see the new handsets, when will pre-orders open and when will the new OneUI-powered Android flagships reach them?When Will The Galaxy S25 Ultra Be Announced?It is widely assumed that Samsung will host the Galaxy Unpacked event on Jan. 22. This date was first mooted through leaked promotional images of an Italian launch event. The photos (which have since been taken offline), included the date of Jan. 22, 2025.Since then, various tipsters have pushed the Jan. 22 date. While some have highlighted Jan. 23 instead, a careful look at the timezones of all the reports points to a morning time slot on the West Coast of America on the 22nd.Samsung Confirms Galaxy Unpacked DatesUpdate: Monday Jan 6.MORE FOR YOUSamsung has sent out invites to its next launch event as the doors open to its pavillion at CES 2025 in Las Vegas. The South Korean company has confirmed the next Galaxy Unpacked launch event will take place on January 22 in San Jose, CA.The event will see the next generation of Galaxy AI, which Samsung says will be a "more natural and intuitive Galaxy AI that will "change the way Galaxy users interact with the world."As part of the invite, Samsung has also confirmed the event will be streamed through the Samsung Newsroom, the main Samsung website, and Samsungs YouTube page. Galaxy Unpacked will start at 1300 Eastern / 1000 Pacific.Attendees walk past the logo of Samsung Galaxy during the Samsung Galaxy Unpacked event in Seoul on ... [+] July 26, 2023. (Photo by Jung Yeon-je / AFP)AFP via Getty ImagesHow Much Will The Galaxy S25 Ultra Cost?Update, Tuesday, Jan 7, 2025: Alongside the launch, pre-order and availability dates, one of the key pieces of information for consumers will be the cost of all the Galaxy S25 family, including the Galaxy S25 Ultra. The first pricing points are coming through as Samsung updates retailers and networks to the final packages.Android beat reporter Ishan Agarwal details the latest potential price for the Galaxy S25 512 GB model 1,079.The closest model to this S25 in the current range is probably the Samsung Galaxy S24, with its 8 GB of memory and 256 GB of storage. That was priced at 960 when launched in January 2024. With every model in the Galaxy S24 family expected to ship with a minimum of 12 GB of RAM, you can see that the S25 comes in at 90 more than last year, but with more memory and storage.Will the Galaxy S5+ and S25 Ultra models come with a small price bump alongside a storage and memory bump? That remains to be seenespecially as most of the S24+ and S24 Ultra models already shipped with 12/512 optionsbut this S25 pricing suggests the Ultras 12/512 option will be in the same ballpark as 2024s 1,570.Samsung Galaxy S24 Ultra, Galaxy Unpacked 2024, London, United Kingdom EWAN SPENCEWhen Will Pre-Orders For The Galaxy S25 Ultra OpenIn previous years, the pre-order window for the new Galaxy S handsets has opened at the end of the event, allowing those watching the livestream to sign up immediately. The current information is that pre-orders will launch two days after the event, on Friday, Jan. 24, and remain open until Tuesday, Feb. 4.If Samsung follows the same pattern as in previous years, the pre-order window will have several offers to encourage consumers to sign up. These have included discounts on accessories (including the Galaxy Watch and Galaxy Buds), a bump up to the next storage level and web-exclusive colors only available through Samsungs website.When Will The Galaxy S25 Ultra Go On Sale?Following the pre-order window, the Galaxy S25 Ultra, along with the Galaxy S25 and Galaxy S25+, will go on sale on Friday, Feb. 7. This sticks with Samsungs traditional two-week gap from the opening of pre-orders to the handsets going on sale in various regions around the world.It remains to be seen if we will see any new features, or even the early tease of the fourth Galaxy S25, the Special Edition.Now read more about the features that will help sell the Galaxy S25 Ultra.
    0 Comments 0 Shares 123 Views
  • WWW.DIGITALTRENDS.COM
    Pinwheel is a $160 Apple Watch Ultra clone made just for kids
    html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd" If your child is begging you to get them the Apple Watch Ultra thats wrapped around your wrist right now, Pinwheel has unveiled a kid-friendly smartwatch that costs $160, giving you and your wallet some peace of mind.Pinwheel, a company that sells smartphones that teach kids to use them responsibly with parental guidance, revealed the new smartwatch for kids at Pepcom during CES 2025 on Monday, showing off safety features that would please parents interested in buying the product. According to Engadget, kids have the ability to use the watch as a standalone device to make calls, send text messages, play preinstalled games (including a puzzle game resembling Tetris), and talk to a kid-friendly chatbot dubbed PinwheelGPT. The company said that kids can ask the AI chatbot any question they want, and itll respond to them in an age-appropriate manner. However, it wont respond to inappropriate questions, prompting them to talk to a trusted adult about such topics instead.Recommended VideosLike its smartphones, Pinwheels kid-friendly smartwatch has strong parental controls. Parents can remotely monitor text messages and call history, turn off certain features for each individual contact on their childs list, use GPS tracking to monitor their childs whereabouts through notifications telling them when they arrive and/or leave a saved location, and vet every contact their kid adds to their contact list until theyre 14. They can also monitor conversations their kid has had with PinwheelGPT, even after those chats have been deleted.PinwheelThe watch also has a camera built on the side so that kids can conduct video chats with their friends and family. Unfortunately, Pinwheel said they wont be able to use the camera until later this year.Please enable Javascript to view this contentThe Pinwheel watch for kids costs $160 plus an additional $15 a month with a mobile plan. Parents interested in buying the watch for their child instead of the Apple Watch Ultra or any other Apple Watch model, for that matter can join the waitlist on the Pinwheel website.Editors Recommendations
    0 Comments 0 Shares 116 Views
  • WWW.DIGITALTRENDS.COM
    How to get Pale Ale in Stardew Valley
    While we could never suggest drinking as one of our tips and tricks in real life, there's no harm in brewing a pale ale or two in Stardew Valley if you're looking for a cold drink or valuable item to sell. Plus, depending on who you are pining over, pale ale also makes a great gift for certain villagers. If you're not a master brewer yet, there's no need to turn to mods because we will show you the exact recipe for pale ale in Stardew Valley.Recommended VideosDifficultyEasyDuration20 minutesConcernedApeIf you're unfamiliar with the brewing process, that's fine because Stardew Valley simplifies it to an incredibly easy formula. All you need is a keg and some hops.Step 1: Making a keg requires you to be at least at farming level 8 to learn the recipe. Once you're there, you can craft it with the following materials:30 wood1 copper bar1 iron bar1 oak resinStep 2: Hops will need to be purchased at Pierre's General store. Look for the Hops Starter item they sell for 60g and grab as many as you want to brew.Plant the seeds and wait for your hops to grow.RelatedStep 3: Place your hops into the keg and wait for around a day and a half them to turn into pale ale.Step 4: If you want to age your ale to increase its value, you can then put it into a cask to increase its quality from normal all the way to iridium if you leave it for 34 days total.If you're not looking to sell it, there's not much point in actually drinking your pale ale. All it does is give your character the "tipsy" status that reduces your speed by 1.Editors Recommendations
    0 Comments 0 Shares 119 Views
  • WWW.DIGITALTRENDS.COM
    The Apple Pencil (1st Gen) is 30% off at Walmart right now
    Digital TrendsOne of the best parts of owning an iPad is being able to use the Apple Pencil. More than your average stylus, this first-party accessory allows you to take notes, draw, and highlight, but thats merely scratching the surface. The Apple Pencil can completely change the way you interact with iPadOS, and right now, the first-gen model is on sale for 30% off its sticker price! When you purchase the Apple Pencil (1st Gen), youll only pay $70, when normally, this digital writing tool sells for $100.Precision and performance are front and center with the first-gen Apple Pencil, providing a lag-free touchscreen experience thats hard to walk away from. Thanks to advanced pressure and tilt sensitivity, youll be able to vary shading and line weight as you would on a regular piece of paper. On a full charge, you can expect up to 12 hours of battery life from the first-gen Pencil, along with quick recharge times. It works with pretty much any iPad model you can think of, too! Should you own a newer iPad with USB-C instead of Lightning, just use the USB-C to Apple Pencil Adapter that comes in the box.The Apple Pencil (1st Gen) is portable and lightweight, too, so you wont have to worry about it taking up too much space in your backpack or tablet case. And thanks to palm rejection, theres no need to fret over where you decide to rest your non-dominant hand while youre notating or daydream-doodling!RelatedWere not sure how long this $30 discount is going to stick around, but if youve been looking for top sales on iPad accessories, this one is definitely worth considering. Purchase the Apple Pencil (1st Gen) and pay only $70 while this deal is still in effect. You should also check out our roundups of the best iPad deals, best tablet deals, and best Apple deals. Apple Pencil dealsWe reviewed the Apple Pencil (2nd Gen) a few years ago. While its more expensive than the first-gen model, it might be worth a look if youre into magnetic charging (the newest Apple Pencil magnetizes directly to your iPad).Editors Recommendations
    0 Comments 0 Shares 114 Views
  • WWW.WSJ.COM
    Samsung Expects Further Slowdown in Operating Profit Growth
    Samsung Electronics forecast a two-fold increase in its fourth-quarter operating profit, signaling a continued slowdown in earnings growth that analysts largely attributed to weaker-than-expected semiconductor prices.
    0 Comments 0 Shares 110 Views
  • ARSTECHNICA.COM
    As US marks first H5N1 bird flu death, WHO and CDC say risk remains low
    Bird flu fears As US marks first H5N1 bird flu death, WHO and CDC say risk remains low No human-to-human spread identified and no concerning mutations circulating. Beth Mole Jan 7, 2025 6:14 pm | 11 A colorized image shows H5N1 avian flu strain viruses (gold) grown in dog kidney cells (green). Credit: uafcde A colorized image shows H5N1 avian flu strain viruses (gold) grown in dog kidney cells (green). Credit: uafcde Story textSizeSmallStandardLargeWidth *StandardWideLinksStandardOrange* Subscribers only Learn moreThe H5N1 bird flu situation in the US seems more fraught than ever this week as the virus continues to spread swiftly in dairy cattle and birds while sporadically jumping to humans.On Monday, officials in Louisiana announced that the person who had developed the country's first severe H5N1 infection had died of the infection, marking the country's first H5N1 death. Meanwhile, with no signs of H5N1 slowing, seasonal flu is skyrocketing, raising anxiety that the different flu viruses could mingle, swap genetic elements, and generate a yet more dangerous virus strain.But, despite the seemingly fever-pitch of viral activity and fears, a representative for the World Health Organization today noted that risk to the general population remains lowas long as one critical factor remains absent: person-to-person spread."We are concerned, of course, but we look at the risk to the general population and, as I said, it still remains low," WHO spokesperson Margaret Harris told reporters at a Geneva press briefing Tuesday in response to questions related to the US death. In terms of updating risk assessments, you have to look at how the virus behaved in that patient and if it jumped from one person to another person, which it didn't, Harris explained. "At the moment, we're not seeing behavior that's changing our risk assessment," she added.In a statement on the death late Monday, the US Centers for Disease Control and Prevention emphasized that no human-to-human transmission has been identified in the US. To date, there have been 66 documented human cases of H5N1 infections since the start of 2024. Of those, 40 were linked to exposure to infected dairy cows, 23 were linked to infected poultry, two had no clear source, and one casethe fatal case in Louisianawas linked to exposure to infected backyard and wild birds."Additionally, there are no concerning virologic changes actively spreading in wild birds, poultry, or cows that would raise the risk to human health," the CDC said.Ongoing threatIn its own announcement of the death, the Louisiana health department noted that the person who was infected was over the age of 65 and had underlying medical conditions, which made the person particularly vulnerable to severe disease.A 13-year-old girl in Canada also developed severe disease from an H5N1 infection in November and required intensive care, intubation, and the use of the life-support therapy extracorporeal membrane oxygenation (ECMO). The teenager is, fortunately, recovering, according to a medical report published December 31 in the New England Journal of Medicine.But, fatalities are not uncommon with H5N1 infections overall. According to data collected by the WHO, there have been 954 documented cases between 2003 and 2024. Of those, 464 were fatal, leading to a fatality rate of about 49 percent among documented cases.Without sustained human-to-human transmission or other dangerous changes to the virus, the risk to the general population remains low. But, both the CDC and Harris emphasized that people who work with birds and other animals are at greater risk of infection and should take precautions. Since March, at least 919 dairy herds across 16 states have been infected with H5N1, 703 of which have been in California. Since January 2022, over 130 million birds have been affected.With the continued spread in birds and other animals, the virus has more opportunities to adapt to humans. Health experts have criticized the US handling of the outbreaks and not doing more to curb the spread of the virus, which has moved seemingly unabated through dairy farms.Beth MoleSenior Health ReporterBeth MoleSenior Health Reporter Beth is Ars Technicas Senior Health Reporter. Beth has a Ph.D. in microbiology from the University of North Carolina at Chapel Hill and attended the Science Communication program at the University of California, Santa Cruz. She specializes in covering infectious diseases, public health, and microbes. 11 Comments
    0 Comments 0 Shares 129 Views
  • ARSTECHNICA.COM
    Nearly two years after its radical pivot, Fidelity slashes Relativitys valuation
    Digging into financials Nearly two years after its radical pivot, Fidelity slashes Relativitys valuation But a Silicon Valley billionaire might bail the company out. Eric Berger Jan 7, 2025 5:41 pm | 6 Artist's rendering of a Terran R rocket launching from Cape Canaveral, Florida. Credit: Relativity Space Artist's rendering of a Terran R rocket launching from Cape Canaveral, Florida. Credit: Relativity Space Story textSizeSmallStandardLargeWidth *StandardWideLinksStandardOrange* Subscribers only Learn moreFor several years, an innovative, California-based launch company named Relativity Space has been the darling of investors and media.Relativity promised to disrupt launch by taking a somewhat niche technology in the space industry at the time, 3D printing, and using it as the foundation for manufacturing rockets. The pitch worked. Relativity's chief executive Tim Ellis liked to brag that his first investor call was to Dallas Mavericks owner Mark Cuban, who cut the company's first check. Cuban invested half a million dollars.That was just the beginning of the torrent of fundraising by Ellis, who, by November 2023, turned the privately held Relativity into a $4.5 billion company following its latest, Series F funding. This was an impressive start for the company founded by Ellis and Jordan Noone, both engineers, in 2016.A big betThe Series F round occurred as Relativity was amid a bold gamble that, in hindsight, may have been a poor bet. In March 2023, the company launched its Terran 1 rocket for the firstand onlytime. After this flight, Ellis announced that the company was pivoting immediately to developing the much larger and more capable Terran R rocket."It's a big, bold bet," Ellis said in an interview. "But it's actually a really obvious decision."With an advertised capacity of more than 1 metric ton to low-Earth orbit and a "backlog" of launch contracts valued in the hundreds of millions of dollars, according to Ellis, Terran 1 had the potential to draw significant revenue. It could also have nabbed a share of launch contracts that have since been snared by competitors such as Rocket Lab, with its smaller Electron vehicle, and Firefly, with its comparably sized Alpha rocket.Instead, the lack of an operational rocket meant that Relativity has likely been subsisting on little revenue since the decision to go all in on the Terran R nearly two years ago. And it has not been an easy pivot. In September, Ars reported on some of the challenges that developing the much larger Terran R vehicle has entailed, including the need to procure large components of the rocket from outside suppliers rather than manufacturing or printing them in-house.Fidelity's financialsUntil recently, it was unclear how these financial pressures and technical issues have been received by the company's investors. However, new and publicly released financial reports provide some clues. The data come from holdings reports filed quarterly and monthly by two funds operated by Fidelity Investments, "Contrafund" and the "Blue Chip Growth Fund." The fund reports provide information on the quantity of shares held by the investment firm and its internal valuation of those shares.In its March 2024 quarterly report for Contrafund, Fidelity noted its holdings from the Series D, E, and F fundraising rounds held by Relativity. For example, Contrafund held 1.67 million shares from the Series D round, worth an estimated $31.8 million. Thus, Fidelity valued the privately held shares at $19 apiece. By the third quarter report last year, Fidelity's valuation of those shares had fallen a little to $16.However, in a report ending November 29 of last year, which was only recently published, Fidelity's valuation of Relativity plummeted. Its stake in Relativity, valued at $31.8 million last March, was now thought to be worth just $866,735a per-share value of 52 cents. Shares in the other fundraising rounds are also valued at less than $1 each.In other words, what was once valued as a $4.5 billion company might now be worth something around $100 million, at least according to one of its institutional investors. Moreover, the Fidelity documents indicate that the value of some "common stock" held by employeesworth about $15 a share a year agomay be worth close to zero.A Silicon Valley backer?Since this data is now about 30 days old, it may not reflect the present value of the company's shares. As Relativity is a private company, the public cannot know its financial situation. Typically, companies don't comment publicly on third-party reports, and the methodology by which Fidelity derived its valuation remains opaque.In response to a query from Ars, the company said Terran R remains on track."Our team is focused on achieving key milestones and accelerating our progress, positioning us for sustained success in the aerospace industry," a Relativity spokesperson said. "We remain confident in our ability to execute on our strategic vision. And we continue to align ourselves with strong capital partners who believe in our mission and are supporting our ambitious programs."Two sources said that a Silicon Valley engineer and multibillionaireArs is not naming this person at this time because his involvement could not be confirmedhas been financially supporting Relativity in recent months and may be considering a larger investment.A significant investment would give Relativity Space some funding runway to continue working on the Terran R rocket and possibly bring the booster to market within the next couple of years. Multiple people have told Ars that the development of the rocket's Aeon R main engine continues to go well. But there's still a way to go before the vehicle is ready for its debut launch.Eric BergerSenior Space EditorEric BergerSenior Space Editor Eric Berger is the senior space editor at Ars Technica, covering everything from astronomy to private space to NASA policy, and author of two books: Liftoff, about the rise of SpaceX; and Reentry, on the development of the Falcon 9 rocket and Dragon. A certified meteorologist, Eric lives in Houston. 6 Comments
    0 Comments 0 Shares 124 Views