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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Disney’s board of directors has appointed current member James P. Gorman to chair its succession planning committee to find the company’s next chief executive. Gorman joined Disney’s board earlier this year and was selected by Disney after overseeing a recent succession process at Morgan ... Read more ›
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Loren Gray is one of the original queens of TikTok, finding early success on its predecessor app Musical.ly in 2015 when she was just 13 years old. Now Gray is the latest social media star to break into traditional acting. She was cast in Netflix’s new film “Incoming,” slated for release Friday, which centers on a group of high school freshmen navigating their first party. Gray plays a popular girl... Read more ›
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The U.S. Department of Justice is investigating accusations by customers and rivals of Nvidia, including Advanced Micro Devices, that the artificial intelligence chip designer is behaving in an anti-competitive way, including in how it bundles its products. One longtime rival argues that while Nvidia’s sharp-edged tactics don’t appear to be illegal, they will eventually hurt its business. “When people start complaining to you about what you’re selling them, that seems... Read more ›
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The developer behind Story Protocol, a blockchain startup founded in 2022 to tackle copyright use, raised $80 million in a round led by a16z crypto, with participation from Polychain Capital and others. PIP Labs raised the round at a valuation of $2.25 billion, according to CNBC and ... Read more ›
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If you follow a lot of tech and venture capitalists on X, you’d get the sense that all founders and investors are in violent opposition to SB 1047. The proposed bill moving through the California legislature would regulate large artificial intelligence makers by requiring them to hire outside auditors, ensuring the companies are testing their models for dangerous capabilities and establishing whistleblower protections. Big tech companies and large startups alike... Read more ›
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Meta Platforms knows how to get brands like Away and Temu to buy advertisements on Facebook and Instagram. If the company’s CEO, Mark Zuckerberg, is to succeed at his goal of becoming a leader in artificial intelligence, though, Meta’s going to have to quickly learn a new skill: how to pitch software to big businesses. Zuckerberg wants to turn Meta’s large language model, Llama 3, into the industry standard for... Read more ›
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Walmart has sold its stake in Chinese e-commerce platform JD.com for $3.6 billion, Bloomberg reported, eight years after the American retail giant made the investment as part of a strategic partnership that let Chinese consumers buy Walmart products on JD.com. Walmart sold 144.5 million JD.com ... Read more ›
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A federal judge in Texas struck down on a rule by the Federal Trade Commission that attempted to ban noncompete contracts, saying the antitrust agency was stepping beyond its authority with the regulation. The U.S. Chamber of Commerce had sued to block the rule, which was slated to go into ... Read more ›
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Ryan Breslow, the founder of ecommerce checkout Bolt, plans to return to the startup as part of a complicated fundraising that would also funnel cash to his other startup venture, The Information reported Tuesday. Bolt has told existing investors that it plans to raise $200 million in cash and ... Read more ›
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You really can’t beat tech industry founders (and a few venture capitalists) when it comes to setting new standards of chutzpah. The latest example? As my colleague Erin Woo scooped today, Bolt founder Ryan Breslow is proposing to return as CEO of the once-hot e-commerce startup. He claims to have the backing of an overseas investor who would put up a couple of hundred million dollars while existing shareholders would... Read more ›
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A report from Carta published last week showed just how little venture capital funds have returned in cash to investors, adding to the disappointment in the asset class over the past few years. But a number of venture capitalists—and even some limited partners—say those findings aren’t as bad as they look. To recap, Carta, which sells software to manage investment firms’ portfolios, said only 9% of 2021 vintage VC funds... Read more ›
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Ryan Breslow’s proposed return as CEO of Bolt, a commerce software firm that became one of the biggest symbols of investor overexuberance during the pandemic-fueled tech boom, would carry a high cost for existing investors. The deal proposed by Breslow and the company’s current CEO also would reward Breslow with lots of cash for himself and other ventures he started or got involved with after leaving Bolt two years ago.... Read more ›
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Democrats are trying to one up Republicans when it comes to creators this election cycle. The Democratic National Convention invited more than 200 influencers to the nearly weeklong event, which kicked off on Monday in Chicago. That’s double the number invited to the Republican National Convention last month. It’s the first time either political convention has offered the same kind of access to social media creators as they grant to... Read more ›
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Jeff Bezos has no plans to bid on the Boston Celtics, according to a person close to Bezos. Since Monday, sports media has been abuzz about the possibility that the billionaire founder of Amazon was considering making an offer for the team, after podcaster Bill Simmons gave credence to the rumors in an episode of his show. But according to the person close to Bezos, there’s “zero truth” to the... Read more ›
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Publisher Condé Nast, the owner of magazine titles including Vogue, The New Yorker and GQ, has struck a multi-year licensing deal with OpenAI, the company’s CEO, Roger Lynch, announced in a memo to staff. As part of the deal, content from Condé Nast publications will now appear within OpenAI ... Read more ›
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Alex Cooper signed a deal with SiriusXM for her popular “Call Her Daddy” podcast, as well as her network of other shows. The three-year deal is worth $100 million, according to Bloomberg. The deal, which goes into effect in 2025, will give SiriusXM the exclusive right to sell ads on the audio ... Read more ›
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As startup founder comebacks go, this may rank as one of the most remarkable. Bolt founder Ryan Breslow is returning as CEO to the embattled e-commerce startup, two and a half years after he stepped down. And he potentially comes with another $450 million: The company is finalizing a $450 million Series F funding round from investment firms in the United Arab Emirates and the U.K. that will value Bolt... Read more ›
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So far, many of the improvements in large language models’ capabilities have stemmed from a surprisingly simple concept: scaling laws. Essentially, researchers have noticed that the more computing power and data you use to train AI models, the better they perform. This realization has pushed labs like OpenAI, Meta Platforms, Anthropic and Google into fierce (and expensive) battles for chips and new sources of training data. But, new research from... Read more ›
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Since chip-design firm Arm Holdings went public last September, excitement around generative AI has sent its stock soaring, to a high last month of $188, more than triple its initial public offering price. While the stock has since fallen back a bit, investors are still valuing Arm at a big premium to Nvidia both on a multiple of future revenue and profits. That’s despite the fact that Nvidia dominates the... Read more ›
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State Street, the Boston-based custody and financial services giant, has tapped Swiss startup Taurus as a technology vendor for its digital assets services. State Street will use Taurus’ technology to build tokenization services for clients, allowing them to record and transfer traditional ... Read more ›
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29.06.2026 08:41
Last update: 08:35 EDT.
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