The Information — AI
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The Information — AI news-outlet 19d ago
Xbox Plans Layoffs as Revenue, Profit Margins Decline
Microsoft’s Xbox gaming unit plans to cut staff in the coming months as its financial picture worsens, according to someone with knowledge of the plans. In a note to staff Wednesday, CEO Asha Sharma said that Xbox’s “accountability margins”—a term Microsoft uses internally to…
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Oracle Reports Mixed Quarter as Cloud Growth is Offset By Software Weakness
Oracle reported 21% higher revenue of $19.2 billion in the three months to May, its final quarter for its fiscal year. The growth rate was slightly slower than the previous quarter although on a constant currency basis—adjusting for foreign exchange changes, Oracle’s growth rate…
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Anthropic Proposes Public Fund for Giving Americans Stakes in AI Companies
Anthropic CEO Dario Amodei released a policy framework on Wednesday that proposed a mechanism for Americans to acquire a financial stake in the gains from the AI industry. The paper argued for the establishment of capital accounts for newborn Americans, similar to the new Trump…
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OpenAI Launches New ChatGPT Ads Featuring Specific Products
Advertisers can now create ads for specific products on ChatGPT by sharing feeds of product information with OpenAI, according to communications sent to advertisers reviewed by The Information. For now, information from the product feeds will only be used to create ads and will…
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Elon Musk’s Very Loud IPO Quiet Period
Good morning! When Elon Musk tweeted details about SpaceX’s agreement with Anthropic late last month, saying the business deal was less durable than advertised, many investors and commentators seized on the fact that the details weren’t in the company’s initial public offering…
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Exclusive: OpenAI Preps New AI Model, Expects To Go Public ‘Within the Next Year’
OpenAI CEO Sam Altman told staff in a Slack message on Monday that he expects OpenAI to go public “within the next year” and that “many things could cause it to be sooner or later in that range, but filing now gives us optionality if we want to go sooner.” Another OpenAI leader…
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German Court Rules Google is Responsible for AI Overviews Errors
A German court ruled that Google was responsible for the accuracy of content in AI Overviews, the AI-generated answers that appear in Google search’s AI Overviews, in a potentially far-reaching ruling. The ruling, reported by the German publication The Decoder which linked to…
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Anthropic’s New Model Targets Power Users But Cuts Off AI Rivals
App developers finally got their first real look at Anthropic’s Mythos Tuesday when Anthropic released a somewhat neutered version of the model, Claude Fable 5 , following weeks of breathless chatter about it. Developers who tried the new model said the AI largely deserved the…
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How Nasdaq Turned Its Index Into a Listings Weapon
When Nasdaq CEO Adena Friedman took the stage at the Economic Club of Washington, D.C, in March, she wasn’t shy about how the company wields its stock indexes to woo business. In an interview with Carlyle Group Chair David Rubenstein, Friedman highlighted Nasdaq’s key…
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OpenAI in Talks to Lease 10 Gigawatt Ohio Data Center with Backing From Nvidia
OpenAI is in advanced negotiations to lease a proposed 10 gigawatt data center campus on federal land in Ohio as part of a deal that could include financial backing from Nvidia , according to two people with direct knowledge of the discussions. The campus under discussion would…
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What’s Behind OpenAI’s Hedged IPO Bet
Can OpenAI do anything simply? Many companies, when publicly acknowledging the possibility of an IPO, emphasize that the final decision will depend in part on “market conditions.” That’s what OpenAI’s rival Anthropic did last week . But the ChatGPT firm chose to be more cryptic.…
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School Bus Startup Zum Takes Early Steps Toward IPO
It may not seem like it now, as we barrel toward SpaceX’s public debut this week, but not every initial public offering will involve a $1.75 trillion rocket-ship company. Soon enough, public investors may get to judge a much more down-to-earth business: school bus fleets.…
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Kalshi Asks Some Customers For Employer Information
Prediction markets platform Kalshi is asking customers in some wagers to provide the name of their employer, industry and job function before making bets, to help the company crack down on potential insider trading. “For markets with heightened insider or manipulation risk, we…
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Palantir CEO Pounces On Anthropic Spending Backlash
Software companies and their shareholders have watched the recent growth of Anthropic and OpenAI with unease. But the mood is shifting as customers complain about AI costs, and the old guard smells blood in the water. Last week, Palantir CEO Alex Karp and his lieutenants told…
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Broadcom to Help Finance Anthropic, OpenAI Chip Deals With Apollo, Blackstone
Broadcom said Tuesday that it is launching a new fund—backed by Apollo and Blackstone—to help finance more than 20 gigawatts of AI data centers through 2028 using chips designed by Broadcom, including projects tied to Anthropic and OpenAI. Apollo will lead an initial $35 billion…
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SpaceX’s Starlink Regulatory Approval in India Said to Stall Over Iran War
SpaceX’s Starlink is hitting new roadblocks with regulators India over concerns about how its satellite internet service has been used in the Iran war, Bloomberg reported on Tuesday. Iranian regulators have not approved Starlink, but the U.S. has smuggled thousands of terminals…
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Anthropic’s Mythos Is Coming Today; Apple Pursues Modest Goals with Siri Revamp
Big news: Anthropic has a new version of a Mythos -class model coming later today called Claude Fable , according to a person with knowledge of the release. It’s a neutered version of Mythos with safeguards to protect against its misuse either in cybersecurity hacks or the…
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Anthropic, OpenAI Stoke Brisk Pace of VC Fundraising
When Founders Fund earlier this year set out to raise its latest fund, a $6 billion vehicle to back mature startups like Anduril , it was the first time in the firm’s two-decade history it had asked its limited partners for more cash within two years of its prior fundraise. The…
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U.S. Accuses Alibaba, Baidu, Others of Aiding Chinese Military in Blacklist Move
The U.S. Department of Defense on Monday added more than a dozen Chinese tech companies including Alibaba and Baidu to a blacklist, a move that could further escalate tensions between the world’s two largest economies. Electric vehicle makers Byd and Nio, humanoid maker Unitree,…
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Databricks in Talks to Raise at Above $165 Billion Valuation
Databricks, a provider of database management software, has discussed raising more money in a funding round that could kick off within the next month, according to multiple people with direct knowledge of the conversations. Databricks has indicated to investors the new round…
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Apple’s Cautious AI Overhaul; OpenAI’s IPO Filing
OpenAI on Monday had good news and bad news for the media corps that avidly follows its every twist and turn. The good news is that it filed confidentially to go public, a week after Anthropic did the same thing. (Yippee!) The bad news: OpenAI said it has “not decided on timing…
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OpenAI Confidentially Files IPO Paperwork, Plans Separate Employee Share Sale
OpenAI said on Monday that it has filed draft paperwork for an initial public offering with the Securities and Exchange Commission, a week after rival Anthropic said it had done the same. OpenAI also plans to let employees sell their shares ahead of the IPO, according to a…
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Apple Tries for Another Siri Reboot
Apple launched a much anticipated new version of its Siri voice assistant at the start of its annual developer conference on Monday, which users will be able to access through a new Siri app. The refreshed voice assistant, now called Siri AI, which uses Google’s Gemini models,…
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Developers of OpenAI’s Stargate Data Center Face Higher Costs
On a dusty stretch of prairie in Abilene, Texas, anxious hardware engineers from Crusoe, a data center developer for OpenAI and Oracle, have been working overtime to get natural gas turbines to work harmoniously with one of the most expensive AI supercomputers in history. It has…
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Goldman, JPMorgan Explore New Ways to Tame AI Lending Risks
Goldman Sachs and JPMorgan are exploring ways to trade on the cost of computing power, according to people familiar with the matter. That includes trading futures contracts tied to rental prices for graphics processing units, among the scarcest resources of the AI boom, which…
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Anthropic Sounds Alarm on Recursive Self-Improvement
Last week, Anthropic boasted that Claude is now writing 80% of Anthropic’s code, which the company presented as a harbinger of a critical leap in artificial intelligence called recursive self-improvement . That’s when models are so capable that they can create the next…
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Bending Spoons Files to Go Public
Italian conglomerate Bending Spoons, which has acquired a string of aging U.S. internet businesses including AOL, Eventbrite, Evernote and Vimeo, filed to go public in the U.S. to give it the funds to pursue more acquisitions. The company’s IPO paperwork shows Bending Spoons’…
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Google and Nvidia Consider Intel as Backup Chip Manufacturer
TSMC’s capacity struggles are turning into a boon for Intel. As the Taiwanese chip making giant struggles to meet overwhelming demand for its chip manufacturing capacity, several major AI chip design companies, including Google and Nvidia, are quietly turning to Intel as a…
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Nvidia, SK Hynix Sign Multi-Year Deal for Next-gen AI Memory
Nvidia and SK Hynix have signed a multiyear deal to work together on advanced memory chips, as AI demand strains global memory supply. The agreement covers chip design and manufacturing, and includes memory for Nvidia’s Vera Rubin platform, its next major AI system. The deal,…
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WWDC and SpaceX IPO Headline Big Week
This promises to be an action-packed week. On Monday, Apple kicks off its annual Worldwide Developers Conference, or WWDC for short, where the tech giant is expected to unveil a new operating system for its mobile devices, complete with more advanced AI features. And then later…
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Revolut Targets at Least $750 Million Share Sale Amid Strong Demand
Revolut, a London-based financial app, is aiming to sell at least $750 million worth of shares in a secondary sale set to kick off next week, with the total potentially pushing far higher amid early signs of strong investor demand, according to a person with knowledge of the…
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Top White House AI Advisor to Leave Post
Sriram Krishnan, a top AI policy advisor in the Trump administration, is leaving the White House, The Information reported on Saturday. Krishnan later confirmed his decision in a post on X. Krishnan is planning to start a policy institute that will support the administration’s…
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In Anthropic vs. OpenAI Race to IPO, First Doesn’t Necessarily Mean Best
Anthropic’s filing of its initial public offering paperwork last week means the maker of Claude Code has pulled slightly ahead of OpenAI as the two go head-to-head with their planned IPOs. While bankers and lawyers say there are good reasons for a company to beat its rival to…
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White House AI Policy Advisor Sriram Krishnan to Leave Position
Sriram Krishnan, a top AI policy advisor in the Trump administration, plans to leave his position at the end of June, according to a person with direct knowledge of the move and a statement viewed by The Information. Krishnan has discussed starting a policy institution following…
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Inside SpaceX’s Strange, Stratospheric IPO
Welcome, Weekenders! In this newsletter: • The Big Read: The quiet VIP of SpaceX’s wild IPO • SpaceX millionaires mull IPO windfalls : a house, a college fund—or ‘chill on a beach’? • SpaceX mafia see IPO as liftoff opportunity for their startups too • Plus, Recommendations—our…
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SpaceX Millionaires Mull IPO Windfall: A Mansion, a College Fund—or ‘Chill on the Beach’?
SpaceX’s expected IPO next week will mean a banner day for many of Silicon Valley’s biggest names. But given the offering’s stratospheric size—it’s the largest ever stock market debut—it will also create life-altering wealth for a cast of lower-profile overnight…
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SpaceX Mafia Eagerly Track Mega IPO, Hoping for Industrywide Liftoff
SpaceX’s offices in Texas and California may host the most raucous celebrations when the company’s shares start trading this coming Friday—but an extensive network of companies founded by SpaceX alums will also be popping bottles of bubbly.
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Trump Targets Meeting With AI Companies to Discuss Financial Partnerships
Speaking with reporters on Friday, President Donald Trump said that he plans to meet with AI companies in the near future to discuss financial “partnerships,” though he did not share further details on what the deals would look like. The remarks come after a Thursday report from…
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Semiconductor Stocks Lead Friday’s Market Selloff
Semiconductor stocks sold off on Friday after going on a historic tear over the last several weeks, partly in response to May’s excellent jobs report that fueled speculation about an interest rate hike. Chip maker Marvell fell 17% while memory maker Micron and chip design firm…
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JPM, Citi, Other Banks Plan Tokenized Deposit Network
Big banks including JPMorgan, Bank of America, and Citi are planning to participate in a new settlement network to be launched next year, which will allow banks to move money on the blockchain between each other. The network, to be launched by The Clearing House, which is owned…
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Google Agrees to Pay SpaceX $920 Million Monthly for Compute Access
Google has agreed to pay $920 million a month to purchase compute capacity from SpaceX, SpaceX said in a filing. The deal will run from October 2026 through June 2029, and Google will be able to access approximately 110,000 Nvidia GPUs, CPUs and related components, according to…
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SpaceX’s CFO Is the Quiet VIP of a Wild IPO
Over the last few months, SpaceX’s chief financial officer, Bret Johnsen, has been trying to pull off an intense two-part challenge: Fold xAI into SpaceX—the biggest merger ever—and then take the combined company public at $75 billion in the largest IPO ever.…
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Trustworthy AI as a value lever
Trust is a requirement for the success of AI, an operating condition that enables speed, scale and autonomy. When implementing AI technology, enterprises need to move at the speed of trust. Go faster, and unforeseen risks proliferate; go slower, and you fall behind your…
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Exclusive: Tesla Pushes Roadster Demo to August
Tesla is pushing a planned public demo for its long-awaited next generation Roadster to August or later, four people with knowledge of the program said, marking the latest delay for the unveiling of the company’s first vehicle debut since its Cybercab nearly two years ago. Tesla…
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Reid Hoffman to Depart Microsoft Board
LinkedIn cofounder and investor Reid Hoffman will leave his seat on Microsoft’s board of directors at the end of this year, Microsoft said in a filing Friday. Hoffman has served as a Microsoft director since 2017, when Microsoft acquired LinkedIn. Since then he’s been a pivotal…
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How xAI Went From Chasing Anthropic to Powering It
SpaceX’s AI lab has had a chaotic year so far, churning through leaders and staff before bringing in outside help in an effort to catch up to Anthropic in coding. What isn’t widely known, however, is that xAI has played a long-running cat-and-mouse game with Anthropic as it has…
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Nvidia CEO Returns to South Korea as AI Memory Runs Short
Nvidia CEO Jensen Huang is making his second trip to South Korea in seven months, underscoring the country’s growing importance to the AI chip giant, according to Reuters. Demand for AI systems has strained supply of the chips and memory needed to build them, making South Korea…
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Data Center Developer Switch in Talks to Raise Billions at $50 Billion-Plus Valuation
Data center developer Switch is in talks to raise billions of dollars at a valuation of at least $50 billion, a level that would make it one of the most valuable privately held data center operators, The Information reported late Thursday . Brookfield Asset Management, KKR and…
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Data Center Developer Switch in Talks to Raise Billions at $50 Billion-Plus Valuation
Data center developer Switch is in talks to raise billions of dollars at a valuation of at least $50 billion, as it seeks to capitalize on soaring demand for the infrastructure needed to support artificial intelligence, according to people with knowledge of the deal. Brookfield…
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U.S. Officials Said to Discuss Taking Stakes in AI Companies
Senior U.S. officials have held preliminary discussions with major artificial intelligence companies about the federal government possibly acquiring shares in their firms, the publication Notus reported, citing people familiar with the matter. The preliminary discussions have…
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