Welcome, Weekenders! In this newsletter:• The Big Read: How a Chinese megabillionaire became the Jensen Huang of batteries. • Style and Shopping: Tech invaded Cannes. Then we went shopping.• Plus, Recommendations—our weekly pop culture picks: “Long Buried,” “How to Not Die in Prison” and “Dust Bunny”On Tuesday, a closely watched Congressional primary in New York City ended in defeat for Alex Bores, a former Palantir engineer turned state legislator who... Read more ›
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Noam Shazeer, the former CEO of Character.AI who rejoined Google this month, will be the co-technical lead on Google’s Gemini, most important artificial intelligence initiative, according to a message sent to staff on Thursday. Shazeer will work alongside longtime Google AI researchers Jeff Dean ... Read more ›
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A merger in the works between two struggling startups, online pharmacy Truepill and health test provider LetsGetChecked, signals a growing trend in an era of tough financing: deals between companies that share major shareholders. Dublin-based LetsGetChecked has offered to buy California-based Truepill for $500 million in stock and $25 million in cash, according to merger documents sent by Truepill CEO Paul Greenall to investors.The venture capital arm of UnitedHealth Group,... Read more ›
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Ever since the pandemic trapped shoppers at home in 2020, the athleisure market has gotten crowded. Startup brands like Alo Yoga and Skims have quickly scaled up to hundreds of millions of dollars in annual sales, and retail giants like Nike and Lululemon have tried to keep up with customers’ changing tastes by adding trendier styles. One brand, Los Angeles-based activewear line Set Active, developed a cult following for its... Read more ›
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We are excited to share that The Information’s Co-Executive Editor Martin Peers has been awarded the prestigious Loeb Minard editing award for excellence in business and financial editing. Martin joined The Information ten years ago next month and has grown the ambition and scope ... Read more ›
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The top U.S. labor law enforcer took a step toward classifying drivers for Amazon subcontractors as Amazon employees, in a challenge to a key legal plank of the company’s delivery network. A National Labor Relations Board director determined that Amazon and one of its delivery subcontractors ... Read more ›
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Meta says it has been told by European regulators to delay using public posts on Facebook and Instagram to train its AI models “not because any law has been violated but because regulators haven’t agreed on how to proceed.” The comments were made in an Economist opinion piece Wednesday written ... Read more ›
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Stripe is planning a new tender offer to buy back shares held by employees, but it will finance this one entirely with its own cash, unlike in previous employee tenders. The financing approach shows how much the payment processing firm’s business has improved from the slump it experienced a couple of years ago. The company had about $615 million in free cash flow in the quarter that ended in June,... Read more ›
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Peloton’s long decline may have plateaued. The maker of exercise bikes and treadmills reported a 0.2% increase in revenue to $643.6 million for the July quarter, the first time since the December quarter of 2021 that the company has increased revenue. Since its peak in 2021, ... Read more ›
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To compete with OpenAI and other artificial intelligence developers, Meta Platforms CEO Mark Zuckerberg needs cloud providers like Amazon Web Services to convince businesses to use Meta’s AI model Llama.So far, that has been a mixed bag, as my colleagues reported on Wednesday. And we just noticed another potentially troubling sign about Llama’s popularity.Llama 3.1, the latest version of the flagship model, has been downloaded a total of about 3.6... Read more ›
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Paramount Global’s board committee that oversees any bids to buy the company announced that it has received an offer from billionaire Edgar Bronfman Jr. and other backers. As a result, it’s extending a “go shop” period it agreed to with David Ellison’s Skydance movie studio, which already has a ... Read more ›
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Walmart+, the retail giant’s subscription that aims to compete with Amazon Prime and other store membership programs, saw its member numbers plateau around eight million people early last year, The Wall Street Journal reported. That figure included roughly one million Walmart employees who were ... Read more ›
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Last fall, after marketing software company Klaviyo went public at a market value of more than $9 billion, leaders at rival Attentive were cheerful about their own initial public offering prospects. At an all-hands meeting, executives told staff the Klaviyo debut showed that public markets could understand a company in the wonky business of email and text message marketing, according to a person who attended the meeting. Attentive executives earlier... Read more ›
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A court unsealed a document listing the shareholders of X Holdings Corp, the parent company of X, formerly known as Twitter. The list confirms many previously known investors in Elon Musk’s 2022 buyout of Twitter, including Sequoia, Larry Ellison, Andreessen Horowitz and Prince Alwaleed ... Read more ›
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Google and California legislators on Wednesday said they agreed to a deal to provide nearly $250 million over the next five years to news organizations and to help journalists and other professionals use artificial intelligence through a program run by a nonprofit. In exchange, the deal ... Read more ›
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OpenAI on Wednesday joined a growing list of artificial intelligence companies and Democratic lawmakers who have written letters to Calif. State Senator Scott Wiener expressing strong opposition to SB 1047. The state bill would require companies that spend over $100 million training a large AI ... Read more ›
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Apple is splitting its App Store team into two entities: One that will run the company’s app marketplace and another that will oversee third-party stores, according to sources who spoke with Bloomberg. Matt Fischer, the vice president in charge of the App Store since 2010, will leave the company ... Read more ›
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Uh-oh. This doesn’t seem good. Disney on Wednesday announced that board member Jim Gorman, a former CEO of Morgan Stanley, would take the reins of the board’s succession planning committee from Disney chair Mark Parker. This is the committee charged with what is apparently the hardest job in the Western world: finding a lasting successor for CEO Bob Iger.Gorman’s appointment might not sound particularly noteworthy, except that companies don’t often... Read more ›
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Blue Origin, the space startup owned by Amazon founder Jeff Bezos, suffered two accidents in recent weeks to New Glenn, a giant new rocket the company is aiming to launch for the first time by the end of the year. According to Bloomberg, the upper portion of a New Glenn rocket crumpled into ... Read more ›
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Zoom Video Communications, whose business exploded during Covid, is barely growing. But in the July quarter, it managed to post marginally better growth than it had projected, of 2.1%, double its expectations. That was good enough for investors, who sent Zoom stock up 3% in after-hours trading ... Read more ›
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Snowflake reported 29% revenue growth in the July quarter, slightly better than the company projected a few months ago, a sign that the data analytics firm’s business is improving after a slowdown last year. Snowflake raised its projection for full year growth, for the second ... Read more ›
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29.06.2026 08:41
Last update: 08:35 EDT.
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