Alibaba announces new LLM to compete with OpenAI and FTX is giving 98% of money back customers lost 👨‍💻

Sup Scoop Gang and welcome back to work. It’s monday, so we figured we’d start the week with some juicy scoops. You know what that means - welcome (back) to Product Scoop. We’re the newsletter delivering news, insights, and analysis into the tech sector.

Without further ado, here are your scoops below👇

🦾 Alibaba is coming for OpenAI with new LLM

• Alibaba Cloud has unveiled its latest large language model, Qwen2.5, marking a significant move in the realm of generative AI, positioning Alibaba to challenge OpenAI's dominance in this field. Qwen2.5 boasts enhancements in reasoning, code comprehension, and textual understanding compared to its predecessor, Qwen2.0. Read more

🤝 FTX announces that most customers will get their money back

• FTX, a cryptocurrency exchange that collapsed in 2022, has outlined a plan to repay creditors. The company estimates it owes $11.2 billion but has between $14.5 billion and $16.3 billion to distribute.

  Under the plan, almost all customers will receive their money back and more. Customers with claims of $50,000 or less will get 118% of their claim amount. This compensation will be received by about 98% of creditors. Read more

🍏 Apple apologies for it’s recent iPad Pro ad

• Apple has issued an apology and acknowledged that it "missed the mark" with its recent iPad Pro advertisement after facing backlash from viewers who perceived the ad as celebrating technology's destruction of human creativity and art. The ad, featuring symbols of creativity being crushed by a hydraulic press to reveal the new iPad Pro, drew criticism online. Read more

✋Climate protestors try to break into Tesla factory in Germany

• Climate protesters in Germany attempted to breach Tesla's Berlin-Brandenburg Gigafactory in response to the company's plans for expansion. Brandenburg police reported unauthorized individuals trying to enter the Tesla premises, leading to roadblocks and disruptions in the area. The protests, which included sit-in blockades and road closures, escalated with activists occupying a nearby airfield and resulting in police interventions and arrests. Read more