Elon Musk’s xAI raised $5 billion of equity in addition to $5 billion in debt, according to Morgan Stanley, which advised on the debt transactions. “The combination of debt and equity reduces the overall cost of capital and substantially expands pools of capital available to xAI,” Morgan Stanley ... Read more ›
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Start your timer. Meta Platforms CEO Mark Zuckerberg on Monday unveiled the company’s new artificial intelligence organization—Meta Superintelligence Labs—replete with heavyweights from Silicon Valley. This new org is the product of a massive spending spree by Zuckerberg to snag the best AI talent possible in hopes of turning around Meta’s recent AI slump. The end result is a team that, without being too cynical, feels highly combustible. Don’t be surprised... Read more ›
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A federal judge denied Apple’s motion to dismiss the Justice Department’s antitrust lawsuit against the iPhone maker, ruling that the government’s lawsuit had “sufficiently alleged indirect evidence” showing that Apple has monopoly power in the smartphone market. Among other things, Apple had ... Read more ›
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Stablecoin issuer Circle, which went public in a blockbuster IPO early June, said Monday it has applied with a U.S. banking regulator to establish a national trust bank. The application comes as proposed stablecoin legislation requiring that big stablecoin issuers secure licences with ... Read more ›
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Apple is in talks with artificial intelligence leaders Anthropic and OpenAI to boost Siri, Apple’s languishing AI assistant, according to Bloomberg. Apple was caught off guard with the release of OpenAI’s ChatGPT in late 2022 and has been trying to catch up. Last year, it promised an improved ... Read more ›
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Microsoft sales chief Judson Althoff will take a two month sabbatical beginning in July, a spokesperson said on Monday, and plans to return in September. Althoff’s leave comes as Microsoft is preparing to announce thousands of layoffs that will impact its sales division this week. Those layoffs ... Read more ›
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A tussle is brewing between software firms and artificial intelligence startups over access to business customers’ data. The popularity of Glean, an AI tool workers use to search for corporate files and data across all of the apps they use, has prompted enterprise software firms like Salesforce, Atlassian and Notion to introduce similar AI search features or throttle Glean when it connects to their apps, or both. Read more ›
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Meta Platforms CEO Mark Zuckerberg on Monday announced its new artificial intelligence organization, Meta Superintelligence Labs, to its employees, according to an internal post reviewed by The Information. The organization includes Meta’s existing AI teams, including its Fundamental AI Research ... Read more ›
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Temu has resumed buying Meta Platforms and Google ads in the U.S., several months after the Chinese bargain site slashed virtually all of its digital ad spending in the country. Temu, which had been a major digital ad buyer in recent years, pulled back sharply in April after President Donald ... Read more ›
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Oracle said it had signed a cloud services deal with a customer that was expected to contribute more than $30 billion in annual revenue starting in fiscal 2028. That amount is more than Oracle’s $24.4 billion in cloud services revenue for fiscal 2025, which ended May 31. In a securities filing, ... Read more ›
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The overarching narrative of the past two years has been that AI models are getting cheaper for customers. Just take a look at this chart, showing how the cost of purchasing access to a GPT-4 level AI model from OpenAI has dropped more than 85% since it was released in early 2023. And that’s without getting into the rise of cheap, open-source AI like DeepSeek which offers more low-cost alternatives... Read more ›
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Until recently, it seemed video streaming had a channel for every taste. Fans of the 1970s Western drama “Little House on the Prairie,” for instance, could spend time on the channel by the same name watching old episodes. The same is true for the 1980s crime drama “Murder She Wrote” and the 1950s Western “Gunsmoke”—each of these shows have free streaming channels dedicated to them. Things are changing. After a... Read more ›
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OpenAI’s Chief Research Officer Mark Chen sent a memo to staff on the weekend promising that the company was aggressively responding to poaching efforts by Meta Platforms, according to a report in Wired magazine. The memo came as The Information reported Saturday that Meta had hired four more ... Read more ›
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President Trump said “we have a buyer for TikTok” which he’ll identify in about two weeks, adding it was a “group of very wealthy people.” Trump made the comments in an interview with Fox News that aired on Sunday. He acknowledged that he needed the approval of the Chinese goernment but said he ... Read more ›
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Elon Musk called the latest Senate version of President Trump’s Big Beautiful Bill “utterly insane and destructive” that “will destroy millions of jobs in America and cause immense strategic harm to our country!.” In posts on X, Musk renewed an attack on the bill, which cuts off tax credits to ... Read more ›
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As OpenAI pitches its artificial intelligence to big companies and government agencies, it’s taking a page from the playbook of many software firms by offering in-house researchers and software engineers to customize AI for customers. OpenAI is adding staff and resources for a consulting-like service, in which its engineers guide customers through a process known as fine-tuning. To get the consulting help, OpenAI is typically requiring customers to spend at... Read more ›
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Meta Platforms is hiring four more OpenAI artificial intelligence researchers as Meta CEO Mark Zuckerberg continues an unprecedented recruiting effort to catch up to his AI rivals. The researchers, Shengjia Zhao, Jiahui Yu, Shuchao Bi and Hongyu Ren, have each agreed to join, according to a person familiar with their hiring. They follow four other OpenAI researchers whose hirings were reported a few days ago. Their hirings were made after... Read more ›
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Hewlett Packard Enterprise has settled a Justice Department lawsuit aimed at blocking its $14 billion purchase of Juniper Networks, the companies announced, clearing the way for the deal to close. The government sued to block the deal in January, arguing that it would create a duopoly, with ... Read more ›
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Tesla announced that one of its vehicles had driven itself to its new owner’s home, in a big step forward for Elon Musk’s ambitions to dominate the self-driving car sector. A video posted on X by Tesla shows the car driving itself from Tesla’s Texas Gigafactory to its new owner’s home, about ... Read more ›
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Welcome, Weekenders! In this newsletter:• The Big Read: The deals, free agents and egos fueling the AI talent grab • The Top 5: The most rigorous summer camps• Plus, our Recommendations: A Pablo Escobar tell-all; Netflix’s latest sleuths; and the amazing Gila monsterMamma Mia! Nintendo’s Switch 2, the latest console from the venerable videogame company, is a bona fide hit. Currently, the device is nigh ungettable: Best Buy, Target, GameStop... Read more ›
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11.07.2025 14:22
Last update: 14:15 EDT.
News rating updated: 21:11.
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