Stripe is putting up the kind of numbers that would send its stock soaring, if it had public stock. The payments processing firm doubled its free cash flow last year to about $2.2 billion and grew revenues about 28% to $5.1 billion, according to financial figures obtained by The Information. This year’s tech initial public offering parade is preparing to start. Sadly for public market investors, though, most of the... Read more ›
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OpenAI CEO Sam Altman described the awe-inspiring usage of ChatGPT’s new image generation tool a few days ago as “biblical.” His use of religious terminology fits the moment. The money that Altman, Elon Musk and tech giants require to finance chips, data centers and power is a test of faith for Wall Street. Read more ›
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Deal or no deal? President Trump’s Saturday deadline for TikTok to sell its U.S. assets is fast approaching. But Trump has given mixed messages on whether a resolution will be reached by then. On Sunday night, he told reporters on Air Force One that a deal would happen before the deadline. He’s also previously said that he’d be willing to extend the deadline again. Trump will consider a final proposal... Read more ›
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Before today’s main column about the AI attention war between OpenAI and Google, there’s OpenAI news from my colleague Natasha: ChatGPT has hit 20 million paid subscribers, according to a spokesperson. That’s up from 15.5 million at the end of last year, as we previously reported.It turns out a lot of people are willing to pay for a chatbot that can code, write, give personalized health advice and medical diagnoses... Read more ›
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Arm Holdings is exploring an acquisition of Alphawave, which develops and licenses chip designs, to enhance its ability to design artificial intelligence chips, Reuters reported, citing three people familiar with the matter. SoftBank-owned Arm licenses the build blocks for chip designs to ... Read more ›
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Chinese tech giant Alibaba Group plans to start rolling out a new generation of its flagship artificial intelligence foundation models as soon as this month, according to a person with knowledge of the plan. The upcoming launch of Alibaba’s next-generation family of AI models, known as Qwen 3, ... Read more ›
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You know what kids love? Videogames. And you know what they don’t really love—at least if the small children in my life are any barometer? Advertisements. Yet Roblox, the eponymous company behind one of the most popular videogame platforms for kids, is pinning at least a portion of its hopes for more revenue growth on…advertisements. Read more ›
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Crypto company Circle, the second largest stablecoin issuer, has filed publicly for an initial public offering. The company is seeking to list on the New York Stock Exchange under the symbol “CRCL.” It had filed confidentially in January 2024. JPMorgan, Citigroup, Barclays, BNY Capital ... Read more ›
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Joelle Pineau, the head of Meta Platforms’ Fundamental Artificial Intelligence Research lab, will leave the company in May, she said on Tuesday in a post on Facebook. Pineau, who is also a professor of computer science at McGill University, has been at Meta since May 2017 and since March 2023 ... Read more ›
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Andreessen Horowitz is in talks to invest in TikTok as part of a bid led by Oracle and other U.S. investors, The Financial Times reported. The venture capital firm is in discussions to add new outside investment to the offer. It is not currently a shareholder in TikTok parent company ByteDance. ... Read more ›
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OpenAI’s latest image update to ChatGPT isn’t just a boon for Studio Ghibli fans. It’s also a gift to businesses of all sizes looking to generate visuals—from marketing photography, advertisements and more—on the cheap.Take Sola Wood Flowers, a Utah-based e-commerce company that sells replica flowers mostly used in weddings. The business canceled its plans to spend between $150,000 and $200,000 on photography this year after its managers saw ChatGPT’s ability... Read more ›
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OpenAI said Monday it was raising $40 billion in new funding at a pre-investment valuation of $260 billion, confirming earlier reports about the round. The ChatGPT maker also confirmed that SoftBank Group, an existing OpenAI investor, was involved in the funding efforts. Other existing investors ... Read more ›
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Phewww. That was a close one. Tech stocks narrowly avoided another large, painful sell-off on Monday as investors continued to look at the uncertainty around President Donald Trump’s trade agenda. The Nasdaq ended the day down 0.1%, but at different points in the day, trading seemed much grimmer, and the index was down more than 2% at one point. Read more ›
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OpenAI is planning to release artificial intelligence with so-called reasoning capabilities for free for consumers and developers in the coming months, according to a post on X from CEO Sam Altman. The model will be “open-weight,” meaning the weights, or settings, that determine how the model ... Read more ›
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Isomorphic Labs, Alphabet’s AI drug discovery subsidiary, has raised $600 million in its first funding round, the company said Monday. Thrive Capital led the round, with participation from Alphabet and Google Ventures, another subsidiary of Alphabet, according to the company’s press release. ... Read more ›
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New crypto legislation that could make stablecoins a far bigger part of the financial system is moving rapidly through Congress, putting banks on the defensive even before President Donald Trump jumped into the fray. Trump said he wanted stablecoin rules to be the first crypto legislation of his administration. The banks, caught off guard, intensified lobbying for sweeping changes – from who gets to issue stablecoins to how they are... Read more ›
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Circle, the second biggest stablecoin issuer, is aiming to publicly file paperwork for its initial public offering in late April, according to Fortune. The company is working with investment banks JPMorgan and Citi on the IPO, the publication reported, citing two unnamed people. It’s seeking a ... Read more ›
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Agility Robotics, a humanoid robot maker led by former Microsoft executive Peggy Johnson, is raising $400 million at a pre-investment valuation of $1.75 billion, according to a person who has seen the term sheet. The financing demonstrates how advances in artificial intelligence have sparked intensifying interest in the sector from investors as well as large AI developers including OpenAI and Meta Platforms. The venture arm of private equity firm WP... Read more ›
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AI video startup Runway released its latest video-generating model on Monday, in an effort to offer clips that are easier for users to pull together into a longer video or film. The new model, called Gen-4, is better than previous Runway models at generating consistent characters, locations and ... Read more ›
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The French competition regulator fined Apple 150 million, or around $162 million, saying Apple had tougher requirements for data collection by outside apps than its own apps under its App Tracking Transparency (ATT) framework. Apple released the ATT framework inside its iOS 14.5 operating system ... Read more ›
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President Donald Trump said a deal to sell TikTok’s U.S. assets would be reached before the deadline on Saturday. “We have a lot of potential buyers,” he told reporters on Air Force One late on Sunday, according to Reuters. “There’s tremendous interest in TikTok.” In January, Trump extended the ... Read more ›
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The main question after Elon Musk (somewhat predictably) merged xAI with X, which he announced late Friday, is how xAI will build a business the way OpenAI and Anthropic have.Musk says xAI is worth $80 billion. Fine. But Anthropic is privately worth $60 billion and is generating about $120 million a month in revenue. XAI’s revenue is probably a small fraction of that figure and comes from a revenue-sharing deal... Read more ›
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When Elon Musk bought Twitter in 2022, employees from SpaceX, Tesla and his other companies followed him there temporarily to help shake up the operations of the social media company. It wouldn’t be surprising, then, to see Musk employees who have decamped to Washington to assist his Department of Government Efficiency eventually go back to their employers. That already appears to be happening. Read more ›
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Apple is developing a revamp of its Health app to incorporate an artificial intelligence-powered agent product to designed to replicate a doctor, Bloomberg reported. The report said Apple devices would collect data to be used by the agent to offer personalized health recommendations. It said ... Read more ›
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Cybersecurity firm Palo Alto Networks last year started adding artificial intelligence chatbots to its products to help customers get answers about their network security. The tools originally relied on state-of-the-art models from OpenAI and other firms. But Palo Alto Networks recently found that open-source models from DeepSeek, a Chinese developer, could handle the same tasks for just 5% of the cost of the OpenAI models, CEO Nikesh Arora said. Read more ›
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Welcome, Weekenders! In this newsletter:• The Big Read: How the startup behind Cursor became the hottest, vibiest thing in AI• The Top 5: The lobbyists Silicon Valley loves to hire • Plus, our Recommendations: The indentured servants who excel at scams; an Anxious Generation villain; and the existential link between Mel Brooks and Leonard BernsteinSee the image atop this newsletter? OpenAI’s ChaptGPT created it with this prompt: “Make a Ghibli-style... Read more ›
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In the second Donald Trump era, the separation between tech and politics appears vanishingly small. “Eight years ago, you’d never see a Tim Cook or Elon Musk in Mar-a-Lago. Now, you see them all the time,” said Brian Ballard, founder of Ballard Partners and one of the top lobbyists recommended to us by industry insiders. Federal lobbying spending hit a record high in 2024, with companies, nonprofits and other interest... Read more ›
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President Donald Trump pardoned Nikola founder Trevor Milton, who was appealing a four-year sentence for defrauding investors by exaggerating the capabilities of the company’s electric truck. Milton himself announced the pardon in a video taken on his phone Thursday as he drove his car. He said ... Read more ›
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Sesame, a startup developing artificial intelligence voice assistants and wearable devices, is in talks to raise a new funding round, according to a person familiar with the discussions. Sequoia Capital, Andreessen Horowitz and Northstar.vc, a four-year-old investment firm that has backed messaging app Discord, recently discussed investing in the startup, this person said. Sesame recently discussed raising at least $200 million, said two people familiar with the talks, though the... Read more ›
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We have one less company called X to worry about. Elon Musk took a break from cutting costs in the federal government to reveal late Friday that he had merged his X social media platform into his xAI startup. It was a surprising but not completely unexpected move, one that removes any impediments to the two firms sharing resources—and should reduce pressure on Musk to show a turnaround at X.This... Read more ›
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OpenAI’s ongoing $40 billion megaround is dependent on a key condition: the ChatGPT maker being able to complete its conversion to a for-profit structure by the end of the year, according to a person briefed on the round’s terms. If OpenAI isn’t able to do so, the round’s lead investor, ... Read more ›
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02.04.2025 01:52
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