Welcome, Weekenders! In this newsletter:• Tech Culture: Billionaire tax brings new boom time to Tahoe haven• Plus, Recommendations—our weekly pop culture picks: “The Interview: What Does Tucker Carlson Really Believe? I Went to Maine to Find Out,” “Hated by All the Right People,” and “Widow’s Bay”A very old proverb comes to mind when I think about this exact period in AI—because, really, it’s a moment when the enemy of your... Read more ›
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The European Union is speeding up plans for a digital euro, ramping up the push following the passage of stablecoin legislation in the U.S., the Financial Times reported. Stablecoins are cryptocurrencies that are pegged to a traditional currency, in most cases the U.S. dollar, and backed by ... Read more ›
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Welcome, Weekenders! In this newsletter:I’m delighted to introduce Weekend’s latest addition: Jemima McEvoy, who joins as a reporter.Jemima comes from Forbes, where she was a staff writer and a distinguished member of the Wealth Team, the group of reporters who assemble the Forbes 400 and World’s Billionaires lists and chronicle these moguls throughout the year. Estimating their fortunes requires real reportorial verve, which will serve Jemima in good stead with... Read more ›
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Last fall, Howie Liu, CEO and co-founder of Airtable, arrived at a board meeting with an urgent realization: If Airtable, a maker of collaboration software, wanted to stay relevant, it needed to significantly rethink itself. “We started to feel like the incumbent instead of the disruptor and risked becoming one of the dinosaurs,” Liu said. The board agreed, and Liu sprinted to put a plan into place. In June, Airtable... Read more ›
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President Donald Trump and Intel said Friday that the U.S. would take a 10% in the company at a slight discount to its recent share price, becoming the struggling chipmaker’s largest shareholder. The U.S. is making the $9 billion investment by converting funds that Intel would have received from ... Read more ›
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There were no August vacations for bankers who do data center financing deals.At the start of the month, Meta reached a deal to borrow $26 billion and get $3 billion in equity tied to its data center build-out, according to Bloomberg. This week, JPMorgan Chase and Japanese lender Mitsubishi UFJ Financial Group agreed to underwrite $22 billion in debt to Vantage Data Centers. Other nonvacationing bankers worked on xAI’s $10... Read more ›
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Meta Platforms and Midjourney, a startup that develops artificial intelligence models for generating images and videos, on Friday announced a partnership. As part of the arrangement, Meta will license Midjourney’s technology for its future models and products, Meta Chief AI Officer Alexandr Wang ... Read more ›
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Snap, the parent of social media app Snapchat, is discussing raising money from outside investors for its augmented reality glasses, known as Spectacles, The Information reported Friday. It hasn’t started the formal fundraising process yet but Snap may tap sovereign wealth funds with which it ... Read more ›
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Apple is in discussions with Google about using its Gemini artificial intelligence model to power an improved version of Siri. Google has begun training an AI model that could run on Apple’s servers, Bloomberg reported. The Information previously reported that Apple was evaluating outside models ... Read more ›
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OnlyFans’ revenue is still growing, but not at the same rapid pace as recent years. Revenue rose 9% to $1.4 billion for the year ending in November 2024 compared to the prior year, according to a U.K. filing from the adult content site’s parent company, Fenix International on Friday. Last year, ... Read more ›
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Cloud security firm Netskope, the latest enterprise software firm to prepare a public offering, showed sales that grew 31% to $171 million in the quarter that ended in July. The newly unveiled IPO filing showed a net loss of $90 million in the same quarter. The company, founded in ... Read more ›
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TikTok is planning to lay off hundreds of staff in London working on content moderation and security as it outsources more of these efforts to artificial intelligence, The Financial Times reported. U.K. employees in the ByteDance-owned company’s trust and safety department received an email on ... Read more ›
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The rise of artificial intelligence has turned the software industry into a minefield for investors. To address the risks, some are relying more on a metric known as net revenue retention to pick winners and avoid losers. In its simplest form, NRR, also known as net dollar retention, compares annual revenue from a year ago to now. The number can be useful, with one big caveat. There is no set... Read more ›
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For nearly as long as Evan Spiegel has run Snap Inc., his big bet has been on Spectacles, the company’s augmented reality glasses. All together, he has poured $3 billion into the effort—a fraction of what Mark Zuckerberg at Meta Platforms has invested in wearable technology, but a major expense for a company of Snap’s modest size. Spiegel still hasn’t seen a blockbuster hit. Spiegel may be ready to ask... Read more ›
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Nvidia has told some of its component suppliers to suspend production work related to the H20, its chip tailor-made for the Chinese market, The Information reported. The directive comes weeks after the Chinese government told local tech companies to stop buying the chips due to alleged ... Read more ›
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Japanese financial services conglomerate SBI Holdings is teaming up with Singapore blockchain firm Startale Group to build a new trading platform for tokenized stocks—digital assets backed by shares in publicly traded companies. Tokyo-based SBI, which oversees more than 11 trillion yen ($74 ... Read more ›
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Elon Musk talked with Mark Zuckerberg about Meta Platforms potentially backing Musk’s $97 billion bid for OpenAI’s assets, according to a legal filing. While Meta and Zuckerberg did not sign onto Musk’s bid, Musk said that he had communicated about “potential financing arrangements or ... Read more ›
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Some companies should never go public—or maybe even exist. Rent the Runway might be in that group. The clothing-rental subscription service—one of a bunch of mid-sized online shopping companies to go public in recent years—says its mission “is to power women to feel their best every day.” How about trying to make money? After years of steady losses, funded in part with debt, time is running out for the company.... Read more ›
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Nvidia has told some of its component suppliers to suspend production work related to the H20, its chip tailor-made for the Chinese market, according to two people with direct knowledge of the communications. The directive comes weeks after the Chinese government told local tech companies to stop buying the chips due to alleged security concerns, The Information previously reported. The production halt signals that despite the Trump administration’s decision to... Read more ›
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Crusoe, the developer of a massive OpenAI data center in Abilene, Texas, has been talking to investors about raising at least $1 billion at a $10 billion valuation, or more than three times its last valuation fetched late last year, The Information reported on Thursday. The firm wants to use the ... Read more ›
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OpenAI has been quietly using Google search data to power results in ChatGPT, which aims to replace Google’s search engine among consumers and businesses, The Information reported. OpenAI uses data from SerpApi, which scrapes Google search results, according to the report. SerpApi has ... Read more ›
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14.05.2026 00:43
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