The Vancouver athleisure wear company’s founder and biggest critic said appointing former Nike executive Heidi O’Neill as CEO is a “reactive” choice, as is adding Esi Eggleston Bracey, former chief growth and marketing officer at Unilever, to its board. (The Logic)
The families of seven of the victims—survivor Maya Gebala, as well as five children and one educational assistant who were killed in a mass shooting in February—filed the suits in the U.S. District Court in Northern California, alleging OpenAI was negligent in failing to flag the suspect’s ChatGPT activity to police. (The Wall Street Journal)
The Toronto-based AI hardware company reported first-quarter adjusted earnings per share of US$2.16, up 80 per cent from the same period last year, on revenue of US$4.05 billion, a nearly 53 per cent year-over-year jump. But shares were down about 16 per cent amid jitters across the artificial intelligence market. (The Logic)
The Toronto-based miner, which is spinning out its North American gold businesses in an initial public offering, said the spinout’s primary listing will be in New York, with a secondary listing in Toronto. It did not disclose where the rest of the global business will be listed. The North American business could reportedly be worth as much as US$60 billion. (The Logic)
The Philadelphia-based HR software firm will use Plum to help companies wade through the onslaught of AI-generated resumes and interview responses. The companies did not disclose the terms of the acquisition. (The Logic)
A coalition that includes Vancouver’s LayerZero, Canadian Consensys CEO Joseph Lubin and former Top Hat CEO Mike Silagadze’s Ether.fi said it has secured enough donation pledges from its members to eliminate the bad debt left behind after hackers drained about US$300 million from crypto lending protocol Aave earlier this month. (The Logic)
The food-tech firm said Halifax-based Nàdarra Ventures led the seed round, which included Anges Quebec and existing investor Investissement Québec, among others. (The Logic)
The committee held its first meeting on Monday, which included new member Eliot Pence, founder of the Canadian defence-tech firm Dominion Dynamics. (The Logic)
The acquisition could make Shell the biggest liquefied natural gas operator in the country. The cash-and-stock purchase price is adjusted for US$2.8 billion in net debt that Shell will take on in the merger, which it hopes to close in the second half of the year if it gets regulatory and shareholder approval. (The Logic)
Doug Guzman, CEO of the Defence Investment Agency, told a parliamentary committee on Monday that Ottawa will measure whether the winner of the $60-billion contract to build submarines for the Royal Canadian Navy delivers on its promised industrial benefits. (The Logic)