Elon Musk’s xAI sued Apple and OpenAI on Monday, accusing the companies of colluding to squash competition in artificial intelligence. The suit accuses the companies of working together to steer users toward OpenAI’s ChatGPT at the expense of competing chatbots like xAI’s Grok, including through ... Read more ›
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Marketing software firm Klaviyo told employees it would restructure its R&D organization, according to an internal memo reviewed by The Information. As part of the shakeup, Klaviyo is laying off less than 100 staffers, according to a person with direct knowledge of the changes. Klaviyo will ... Read more ›
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Elon Musk’s xAI changed its corporate structure to end its status as a Nevada public benefit corporation, which would have required the company to disclose information about its environmental and social impact, CNBC reported on Monday. xAI appears to have made the change sometime between its ... Read more ›
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When Nvidia CEO Jensen Huang in March said his company would release hardware that lets an AI data center chip send information directly over optical cables instead of needing to convert to optical from electrical signals, it was a shot in the arm for optics developers that have long wanted a bigger role in data centers.Using light to send information over fiber optic cables is well-established, but attempts to use... Read more ›
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In 2022, Faire became one of the most highly priced e-commerce startups, with a valuation of $12.6 billion, as the online marketplace benefited from a surge in internet sales during the pandemic. But after e-commerce growth cooled with waning Covid-19 restrictions, the company in late 2023 slashed its internal valuation to $5 billion, according to two people with direct knowledge of the changes. Now, as online shopping growth has picked... 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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16.05.2026 18:29
Last update: 18:20 EDT.
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