Elon Musk’s xAI Lays Off 500 Data Annotation Workers
xAI said the layoffs were part of a pivot toward employing fewer generalist tutors and more with deep experience in areas like software coding, finance and medicine.
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China Announces Anti-Dumping Investigation into U.S. Chips
The investigation was retaliation for the U.S. adding a number of Chinese chip firms to the list of companies restricted from buying U.S. technology.
Amazon Web Services Head of Startups Departs
Jones was focused on landing business from AI startups.
Apple’s Former Siri Leader Departs
Following a reshuffle earlier this year, Robby Walker was overseeing an AI search product
Crypto Exchange Gemini Surges 32% After $425 Million IPO
Gemini is the latest crypto stock soaring after debut.
Tether Announces New Stablecoin USAT for U.S. Market
Bo Hines, former White House crypto adviser, will be CEO of Tether USAT.
Trump: TikTok’s Fate Depends on China
The U.S. and China are currently discussing the future of TikTok during the two countries’ trade talks in Spain this week.
Apple’s iPhone Air Faces Problems in China
As The Information previously reported, the iPhone Air's lack of a physical SIM card tray runs afoul of Chinese rules.
Microsoft and OpenAI Announce Tentative Deal as Startup Aims to Restructure
The deal would clear a key hurdle to OpenAI going public.
Blockchain-Based Lender Figure Jumps 44% After IPO
Figure raised $787.5 million in an upsized IPO on Nasdaq.
Data Center Developer Vantage Raises $1.6 billion for Asia Expansion
Vantage is also raising $25 billion in debt and equity to build a facility in Texas for Oracle’s cloud business.
Ellison’s Paramount Preparing Cash Bid for Warner Bros. Discovery
A takeover of Warner Bros. Discovery would catapult David Ellison into a leading position in Hollywood and dramatically improve its position in streaming.
Index Ventures Hires New Partner
Sahir Azam has joined Index Ventures from MongoDB, where he was chief product officer.
New Opendoor CEO’s Compensation Closely Tied to Stock Recovery
New CEO Kaz Nejatian will receive an annual base salary of $1 and over 80 million potential shares.
Temu Looks for U.S. Government Relations Staffers as Rival Shein Retreats from Politics
The move to build a Washington D.C. team would be a dramatic shift for the low-cost seller, which has had virtually no physical presence in the U.S. since launching sales in mid-2022.
Perplexity Finalizes $20 Billion-Valuation Round
The small round increases its valuation 11% from a financing two months ago.
Amazon’s Zoox Launches to Public in Las Vegas
Zoox will accept rides from members of the public in Las Vegas.
Klarna Shares Pop in Long-Awaited IPO
Shares in Klarna rose 15% on the buy now, pay later lender’s first day of trading on the New York Stock Exchange.
Opendoor Names Shopify COO Kaz Nejatian CEO
Nejatian joined the e-commerce software giant in 2019 and was promoted to COO in 2022.
Nebius Aims to Raise $3 billion Following Microsoft Contract
Nebius has said it would fund expenses for the $17.4 billion Microsoft deal through a mix of revenue from the contract and new debt secured by the agreement.
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