Microsoft and Apple Give Up OpenAI Board Seat Amid Antitrust Probes
The shake up comes as Microsoft’s $13 billion investment in the startup is under scrutiny by antitrust regulators including the FTC and the European Commission.
Weekday mornings
The Information AM
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy
Recent Editions
CNN Announces Layoffs Amid News and Business Revamp
CNN said it plans to launch a new subscription product for CNN.com and invest in streaming video, including FAST channels, as it overhauls its news operations.
VC Firms Index, Flagship Raise New Funds
So far this year, U.S. VC firms have raised $37.4 billion in new capital, slightly more than the $33.3 billion raised in the first half of 2023.
Musk Says xAI Will Build Supercomputer on Its Own
The company had been discussing renting the chips from Oracle in a deal that could have been worth $10 billion over several years, The Information previously reported.
Tesla’s EV Market Share Slips Below 50% in US
Overall, US electric vehicle sales grew 11.3% in the second quarter, according to Cox Automotive research.
FTC Bans Messaging App from Offering Service to Minors
The app's co-founders agreed to pay $5 million and to stop marketing the app to teens, as part of a settlement.
Etsy Adds New Product Labels to Highlight Unique Items
The company has been working to differentiate itself from bargain sites like Temu.
Athletic Brewing Doubles Valuation to $800 Million in General Atlantic-led Round
The funding round is part of a larger wave of investment in “functional beverages” that claim to offer health benefits.
UiPath to Lay Off 10% of Staff to Cut Costs
The company has recently come under pressure from newer generative AI products offered by competitors.
Sequoia’s Former China Affiliate Closes New Yuan Fund
The success in domestic fundraising despite China's economic challenges is a sign of strength for HongShan.
Bain Capital, Software Firm Envestnet Approach a Deal
The buyout firm is nearing a deal to take Envestnet, which sells software to financial advisors and wealth managers, private.
Mike Bloomberg Donates $1 Billion to Fund Free Medical Tuition
The donation ranks among the largest ever to a university.
Skydance and Paramount Unveil Merger
Skydance promised to bring its tech-forward management approach to overhauling Paramount.
Ellison’s Skydance Gets Closer to Paramount Deal
A deal could rejuvenate Paramount, owner of CBS, Comedy Central, Paramount+ and the Paramount Pictures film studio.
Revolut Founder to Sell Stock in Secondary Offering
Revolut is planning a secondary share offering with a valuation targeted at $40 billion.
EU Watchdogs Keeping Close Eye on Nvidia, Competition Chief Says
Margrethe Vestager, the European Union Competition chief, said watch dogs are looking into potential ways that Nvidia could be abusing its market dominance.
EU Asks Amazon for Information on Algorithms, Ads
The EU said Amazon must detail how it’s complying with parts of the act that require transparency of “recommender systems."
SoftBank Discusses Plan to Invest $10 Billion in Power-Related Projects
SoftBank wants to increase its exposure to the infrastructure most critical for AI development, such as energy and chips.
Amazon to Take Minority Stake in Tie Up of Saks, Neiman Marcus
Amazon will work with Saks Global to "innovate on behalf of customers and brand partners," the companies said.
Alphabet Shuts Down Mineral Moonshot Project
The shutdown comes as Alphabet cracks down on its money-losing moonshot projects.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy