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Silicon Valley Business Journal
The vacancy rate for life sciences is soaring in this biotech hub
A wave of life sciences vacancies that rippled through the East Bay over the past few years have hit one market especially hard. <\p> Emeryville's life sciences market reached a vacancy rate of 37% in the second quarter of this year, down slightly from 37.5% in the first quarter, research from real estate services firm CBRE shows. That's a dramatic increase for a submarket which had a vacancy rate in the single digits for years. <\p>
IRS ERC moratorium could cost the agency billions
Efforts by the Internal Revenue Service to crack down on Employee Retention Credit fraud could cost the agency billions of dollars in interest payments.<\p> The IRS in an announcement in June said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023. Through that analysis, it found that between 60% and 70% of the applications showed an unacceptable level of risk.<\p>
Skylo Technologies enters global service rollout
Skylo Technologies Inc. announced Friday it has successfully moved from private beta testing status with its partner Soracom Inc. to a global service rollout to select customers. <\p> The non-terrestrial network (NTN) service provider has developed the ground infrastructure satellites in geostationary orbit needed to connect with mass market mobile devices. <\p>
Nvidia preparing version of new flagship AI chip for Chinese market
Nvidia Corp is said to be revising the artificial intelligence microchips for the Chinese market to bring the company in line with the latest U.S. export controls, according to a report by Reuters. <\p> In March, Nvidia CEO Jensen Huang unveiled the new "Blackwell" chip series at the GPU Technology Conference at San Jose's SAP Center. <\p>
San Pedro Square Block Party draws biggest crowd yet for series
The San Pedro Square Block Party on Thursday evening brought the highest amount of foot traffic to downtown San Jose, around 9,000 people registered online for the event, according to Zach Waldren, the founder of consulting firm Tailored by Design who was contracted to support the event. <\p> The first block party in San Jose's Historic District had around 200 people registered while the second block party in SoFA (South First Area) district received about 400 RSVPs, Waldren also said. <\p>
Re-Ranked: Patents filed in Silicon Valley
Silicon Valley is home to some of the most well-known companies in the world and it's truly no wonder these firms are filing hundreds of patents each year. This week we highlight patent recipients in Silicon Valley ranked by number of patents assigned in 2023. <\p> The leading three companies, may have traded ranks since last year, but remain firmly planted at the top: Alphabet Inc./Google LLC, Apple Inc. and Intel Corp.<\p>
Santa Clara County has the highest concentration of patents
The top five cities in the United States ranked by innovation are all in Santa Clara County, according to a 2023 study. <\p> The study, conducted by online small business lender OnDeck, measured innovation using the number of patents registered per 10,000 people and where those inventors live. According to the research, the five most innovative cities in order are Palo Alto, Mountain View, Cupertino, Sunnyvale and Santa Clara. <\p>
Week in AI: Prologis sees real estate boost, Anthropic and VC team up
Is demand for artificial intelligence boosting commercial estate? Prologis says yes.<\p> The San Francisco-based real estate titan is seeing demand for data centers grow.<\p>
Cytovale is battling sepsis with an early detection device
This article is part of our Inno Awards feature. Cytovale was honored under the health care category. Check out the other Inno Awards honorees here. <\p> Sepsis is the leading cause of death in U.S. hospitals, costing the system billions, and requiring doctors to make on the spot decisions in order to diagnose through symptoms alone. <\p>
MycoWorks transforms mushrooms into fashionable materials
This article is part of our Inno Awards feature. MycoWorks was honored under the material science category. Check out the other Inno Awards honorees here. <\p> Mushrooms are known for their various gastronomic, medicinal and hallucinatory properties, but lesser known for their use in art and fashion.<\p>
Unspun is making fashion more efficient with 3D weaving technology
This article is part of our Inno Awards feature. Unspun was honored under the fashion tech category. Check out the other Inno Awards honorees here. <\p> Fast fashion has dramatically sped up trend cycles and managed to make us all look a bit more stylish. But it’s created a large amount of waste and carbon emissions in the process. <\p>
Glydways takes a different path to autonomous rides
This article is part of our Inno Awards feature. Glydways has been honored under the autonomous vehicles category. Check out the other Inno Awards honorees here. <\p> What if the future of autonomous transportation isn’t just fleets of cars zooming around city streets but also small, on-demand shuttles zipping along dedicated paths?<\p>
Coalition asks senators to support entrepreneurs, investors of color
Over 100 entrepreneurs and investors across more two dozen states signed a letter asking the U.S. Senate banking committee to support a pair of bills that would help boost access to capital for communities of color.<\p> The coalition said it delivered the letter on Wednesday to the Senate Committee on Banking, Housing and Urban Affairs.<\p>
Raising a Series B round is becoming a greater challenge for startups
Jeremy Burton’s startup needed fresh funding if it was goiing to survive.<\p> The CEO knew that Observe had solid fundamentals. He also knew he’d picked a particularly tough time to raise a big second helping of funding, typically called a Series B.<\p>
Op-ed: Will Silicon Valley startup culture be wiped out by AI?
You’d think AI might put the Silicon Valley startup culture on the endangered species list. If LLMs replace coders and collapsing barriers to entry make starting a company faster and easier, the existing Valley culture’s going to be a dinosaur, right? <\p> Wrong. <\p>
The National Observer: Distress rises for apartment owners
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today, we'll take a look at the challenges of finding new tenants as two prominent drug store chains close stores, uncertainty around new rules on brokers in the home buying sector, and Big Lots' plan to close dozens of stores as doubts arise around its solvency over the next year. But for our top story we're going to examine distressed debt in the multifamily sector.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter. <\p>
Meta eyes 5% stake in Ray-Ban maker
Meta Platforms Inc. is looking to acquire a stake in eyewear company EssilorLuxottica SA, its Paris-based partner that makes the company's Ray-Ban smart glasses, according to a report in The Wall Street Journal. <\p> Sources told the Journal that while the deal may not come to fruition, talks are ongoing, and the social media giant is looking to acquire about a 5% stake in the global eyewear manufacturer. <\p>
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