AI coding startup Cursor, which recently agreed to a potential $60 billion acquisition by SpaceX, last month hit $2.7 billion in annualized revenue, 14 times higher than that revenue pace a year ago, The Information reported Thursday. Some investors expected annualized revenue to hit more ... Read more ›
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Weeks before Cursor agreed to a $60 billion potential takeover from SpaceX, the hot AI coding startup set out to raise billions of dollars. As its leaders made the rounds among tech’s largest investors, they started to hear an unfamiliar message: No, thanks. Many investment firms usually capable of writing the largest checks into startups, including Iconiq and other late-stage tech investors, had just invested billions of dollars into OpenAI... Read more ›
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Elon Musk may be the busiest dealmaker right now. This Tuesday, his SpaceX rocket company said it had an option to buy coding startup Cursor for $60 billion. That would be the biggest venture-backed acquisition—other than SpaceX’s February purchase of his startup, xAI, for what Musk has said was a $250 billion valuation.Outside the Musk-verse, by contrast, tech bankers have been complaining about how slow dealmaking is—particularly in software, where... Read more ›
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We’re in a tech layoff era again—although a more accurate term may be an “employee replacement” phase. Meta Platforms told staff on Thursday it plans to lay off 10% of its staff, or about 8,000 people, next month. (The next few weeks won’t be fun at Meta!) The latest layoffs follow Meta’s cuts of about 2,000 people earlier this year and a spate of such cuts elsewhere at Snap, Amazon... Read more ›
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Steve Molloy, a chip industry veteran who has spent the past seven years at Google, recently joined Amazon in the newly-created position of vice president of AI silicon, according to an Amazon spokesperson. Molloy’s hiring shows how Amazon is bringing in experienced chip design veterans to help ... Read more ›
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Users of Grok, the AI chatbot operated by SpaceX subsidiary xAI, reported widespread outages on Thursday. Outages were especially common in New York, Illinois and California, according to the tracking site DownDetector. While it’s unclear exactly how widespread the outages are, many Grok users ... Read more ›
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The latest in a series of crypto hacks has spread turmoil across the market, toppling the biggest lender in the industry, freezing billions of dollars in assets and causing big losses for highly leveraged traders. The hack, which involved $290 million of fraudulent tokens, began at a little-known startup but the impact quickly spread to Aave, which accounts for about a third of the decentralized crypto lending market. It caused... Read more ›
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Meta Platforms has made its plans to cut 10% of its staff, or around 8,000 people, official. In a memo to employees, the company’s chief people officer, Janelle Gale, said the layoffs will happen on May 20, Bloomberg reported. Meta also will not fill about 6,000 open jobs at the company. A Meta ... Read more ›
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OpenAI on Thursday released its latest flagship model, GPT-5.5, according to a blog post. That model, codenamed Spud internally, is better at breaking down complicated requests from customers and showed improvement in coding, financial modeling and scientific research, compared to prior models ... Read more ›
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Last year at Google Cloud's Next conference, executives touted the power of the company’s AI models for businesses. This year the theme is how to help companies use the models.And with good reason: In interviews at the conference, customers and Google Cloud resellers told me that companies racing to adopt AI are hitting roadblocks. Some are still setting up their first AI agents, while others are struggling to manage a... Read more ›
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Microsoft is offering voluntary retirement buyouts to employees who have been at the company for a long time, chief people officer Amy Coleman said in a memo to staff on Thursday. The buyouts will be available to employees whose tenure at the company plus their age totals more than 70, the ... Read more ›
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Tesla is acquiring an unnamed AI hardware company for up to $2 billion, the company disclosed in a securities filing on Thursday. The electric automaker is paying for the company in common stock and equity awards, $1.8 billion of which is subject to conditions and milestones “dependent on the ... Read more ›
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Shareholders in Warner Bros. Discovery approved sale of the company to the Ellison family’s Paramount Skydance, the latest step towards completion of the $110 billion purchase. WBD said in a statement the vote was overwhelmingly in favor although the actual vote count will take a little while to ... Read more ›
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Hours after Anthropic said it was investigating a report that users had gained unauthorized access to its ballyhooed Mythos model, OpenAI accidentally made a slate of its own unreleased models available on its Codex app. The breaches are a reminder that Anthropic and OpenAI have plenty of their own cybersecurity issues even as they help other organizations fortify their systems for a new era of AI-powered cyberattacks.Anthropic has gone to... Read more ›
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Major insurers including Berkshire Hathaway, Chubb and Travelers are taking steps to cut AI-related damages from corporate insurance policies, and U.S. state regulators are giving them the green light. Insurers are trying to get ahead of risks from companies that use generative artificial intelligence to automate tasks, stoked by the fast pace of model improvements. Executives at major insurance brokers, including Aon, Gallagher and Lockton, say that if insurers make... Read more ›
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Netflix said its board had authorized a new $25 billion stock buyback program. The new program follows a 13% slide in Netflix’s stock price since its first quarter earnings disappointed investors a week ago. The video streaming stock has never recovered the levels it was trading at last fall, ... Read more ›
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Nvidia has not yet sold any H200 to China, despite the Trump administration’s approvals months ago for the powerful chips to be exported to the country, Commerce Department Secretary Howard Lutnick said on Wednesday at a Senate hearing, according to Reuters. “The Chinese central government has ... Read more ›
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Chinese tech giants Tencent and Alibaba are in talks to invest in DeepSeek, the AI upstart that recently started fundraising for the first time, The Information reported on Wednesday. DeepSeek, owned by Chinese hedge fund High-Flyer Capital Management, is now seeking to raise funding at a ... Read more ›
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Tesla’s earnings calls are usually freewheeling affairs, with pulsating electronic music and wildly optimistic projections from CEO Elon Musk, who often likes to crack crude jokes and giggle. Today was different. Instead of the typical sci-fi rhapsodies about self-driving vehicles taking over the world and robots solving poverty, Musk spent much of the call talking about constraints on his vision for Tesla. For example, when asked when production would start... Read more ›
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OpenAI is in discussions to invest up to $1.5 billion in a private equity joint venture called DeployCo, according to a person with knowledge of the effort. The ChatGPT maker is in talks to invest $500 million initially in DeployCo, which is expected to be valued at $10 billion. OpenAI has the ... Read more ›
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28.04.2026 01:29
Last update: 01:20 EDT.
News rating updated: 08:20.
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