The Information — AI
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The Information — AI news-outlet 51m ago
Fervo Raises Nearly $2 Billion in IPO
Enhanced geothermal energy pioneer Fervo Energy raised nearly $2 billion in an initial public offering, giving it the financial firepower to grow aggressively and compete with natural gas to power AI data centers. Fervo is a leader in one of the hottest sectors in energy. The…
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Microsoft Says It Spent More Than $100 Billion on OpenAI
Microsoft estimates it will have spent more than $100 billion on commercial agreements with OpenAI by the end of its fiscal year in June, executive Michael Wetter testified in court on Wednesday. That number includes the $13 billion Microsoft invested in OpenAI, as well as the…
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Latest Version of Anthropic’s Mythos AI is Even Better at Hacking, UK Researchers Say
Anthropic’s latest version of its Mythos AI showed “notable capability jumps” at finding and exploiting undiscovered software vulnerabilities compared to an earlier version of the model, researchers at the U.K.’s AI Security Institute said Wednesday. Anthropic has not released…
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Startup Modal in Talks to Raise at $4.5 Billion Valuation After Revenue Surges
Modal, a startup that rents out Nvidia graphics processing units and software to help developers run and train models as well as agents, is in talks to raise money at around a $4.5 billion valuation. That would be an 80% premium to its last valuation from just a few months ago,…
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Apple Explores Ways to Welcome AI Agents in the App Store
Apple is exploring ways to better incorporate AI agents into its App Store so it can benefit from the tech industry’s hottest trend while ensuring that the software in its store continues to play by its rules, according to people briefed on the matter. So far, the widespread…
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Can Crypto Beat the Banks and Win Over Washington?
This is a critical week for the crypto industry. The most important crypto law ever to hit Congress is about to take a big step forward, and with the crypto market in the doldrums, the timing couldn’t be better. This could be the last chance for the long-delayed bill to become…
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Alibaba Expects $4.4 Billion in Annualized AI Revenue by Year-End
Alibaba Group CEO Eddie Wu said Wednesday that the company expects its annualized revenue from AI model and application services to surpass 10 billion yuan ($1.47 billion) in the current quarter through June, and top 30 billion yuan ($4.4 billion) by the end of this year. It was…
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Tencent Says China’s AI Chip Crunch Is Easing, Plans to Spend More
Tencent Holdings is gearing up to spend more on AI infrastructure after chip shortages began showing signs of relief. Chief Strategy Officer James Mitchell said on an earnings call Wednesday that the company will spend significantly more in the second half of this year, as more…
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How Anthropic Could Take an OpenAI Supplier Off The Table
Is a big AI model maker about to take out a supplier to its archrival? That seems possible if a deal we reported on late Tuesday reaches the finish line. Anthropic is in talks to buy developer tools startup Stainless for at least $300 million, according to Stephanie and Katie .…
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Rent the Runway Cofounder to Step Down as CEO
Rent the Runway cofounder Jennifer Hyman will step down from the CEO role at the end of this week, the clothing rental company said Wednesday. Hyman will remain an advisor to the company through early 2027, and current board member and former Nordstrom executive Teri Bariquit…
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Nebius Reports 700% Increase in Q1 Revenue
AI cloud firm Nebius’ revenues rocketed 684% to $399 million in the first quarter, the company reported Wednesday morning, reflecting the explosion of demand for AI neoclouds’ computing capacity. But Nebius, like fellow neocloud CoreWeave, is burning cash. Its capital…
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Nvidia’s Jensen Huang Included in Trump Trip
Nvidia CEO Jensen Huang got a last-minute invitation to join President Donald Trump’s trip to China, Trump revealed in a Truth Social post . After reports surfaced that Huang had been left out of a trip that included many other tech executives, including Elon Musk and Apple CEO…
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Amazon Drops ‘Rufus’ Branding on Shopping Chatbot, Adds AI in Search
Amazon is rebranding its Rufus chatbot to Alexa for Shopping, the company said on Wednesday. Amazon first announced an AI-powered chatbot for shoppers called Rufus in early 2024. A year later, Amazon launched Alexa+, the large language model-enhanced version of its decade…
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Anthropic Flexes Pricing Power as Its Customers Willingly Eat the Cost
Anthropic’s revenue growth is unprecedented. Newer Anthropic customers such as PagerDuty are a big part of the reason. Eric Johnson, chief information officer at PagerDuty, which helps software engineers respond to tech outages, said he is bracing for volatile costs as his…
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Former Alibaba Star Researcher Starts New AI Lab, Seeks $2 Billion Valuation
Junyang Lin, former lead researcher of Alibaba’s Qwen models who left the firm earlier this year, is seeking to raise several hundred million dollars for his new AI lab, The Information reported . Lin’s new AI lab will likely be valued at around $2 billion after the funding…
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Former Alibaba Star Researcher Starts New AI Lab, Seeks $2 Billion Valuation
Junyang Lin, former lead researcher of Alibaba’s Qwen models, is seeking to raise several hundred million dollars for his new AI lab, according to two people with direct knowledge of the matter. The new AI lab will likely be valued at around $2 billion after the funding round,…
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Microsoft’s Stock Slide Raises Specter of Activist Investors
Is it time for another activist investor to take a run at Microsoft? Shares of the iconic software giant are down nearly 16% so far this year, making it the worst performer of the big tech names. The Financial Times reported on Friday that British hedge fund TCI had sold “almost…
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Cerebras' Plum OpenAI Deal Is a Double-Edged Sword
When some journalist writes the book on the AI boom, one critical chapter will start on Christmas Eve 2025. That was the day that Nvidia and OpenAI’s complicated frenemy relationship became incredibly lucrative for chip startups that focus on AI inference. We already know that…
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Altman Tries to Turn the Tables on Musk in Contentious Testimony
OpenAI CEO Sam Altman sought to turn the tables on Elon Musk in their legal battle, testifying that the tycoon abandoned the group they co-founded and worked to undermine its success. Altman’s appearance in court Tuesday marked the highest-stakes moment yet in the trial over…
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Nvidia CEO’s Charitable Foundation Signs GPU Deal With CoreWeave
The charitable foundation tied to Nvidia CEO Jensen Huang and his wife, Lori Huang, has agreed to rent Nvidia graphics processing units from CoreWeave, which it plans to donate to artificial intelligence developers, according to Nvidia’s annual report. The Huang Foundation has…
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Nvidia CEO’s Children Earn Over $1 Million Annually
Madison and Spencer Huang, the daughter and son of Nvidia CEO Jensen Huang, have quietly become rising forces inside the world’s most valuable company—and their paychecks reflect it. Madison, a senior director of product marketing, earned $1.2 million last year, according to…
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