Ripple, Other Crypto Firms Seek U.S. Bank Charters, Fed Access
A wave of crypto companies are seeking bank charters and access to the central bank’s payment systems under a friendlier administration.
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Recent Editions
TikTok Lays Off Staff on U.S. Trust and Safety, Global E-Commerce Teams
Wednesday’s cuts at TikTok Shop were the third round of cuts at the unit since April.
OpenAI and Oracle Sign Another Big Cloud Deal
OpenAI plans to rent an additional 4.5 gigawatts of data center capacity from Oracle in the U.S.
Khosla Ventures Targets Nearly $4 billion in New Funds
Khosla Ventures filed securities paperwork indicating that it is targeting a fundraise of $3.95 billion across three new funds.
Tesla Vehicle Sales Fell 14% in Second Quarter
The drop comes as CEO Elon Musk’s involvement with the Trump administration has turned some consumers against the brand.
Microsoft to Cut 9,000 Jobs in Second Round of Layoffs This Year
The cuts come just months after Microsoft laid off roughly 6,000 employees.
Amazon Has About as Many Robots as Humans in its Warehouses
Workers have become more productive but fewer work in each warehouse.
FTC to Review SoftBank’s Acquisition of Chip Firm Ampere
SoftBank in March said it agreed to pay $6.5 billion in cash to buy Ampere.
Sam Altman Calls Meta Recruiting Efforts ‘Distasteful’
The memo follows Meta’s announcement of its superintelligence team.
Figma IPO Filing Shows High Margins, Founder Control
CEO Dylan Field has 75% of the company’s voting power through supervoting shares
Anthropic Revenue Hits $4 Billion Annual Pace
Plus, two leaders of its new coding product are joining Cursor, a rival product
Scale AI’s Bigger Rival in Talks to Sell $1 Billion in Shares at $15 Billion Valuation
Surge AI has not raised any external funding up until this point.
Cloudflare Lets Customers Block AI Content Scrapers by Default
The content delivery network operator and cybersecurity firm has a long history of taking bold stances on issues its customers are facing.
WBD’s Second Biggest Shareholder, the Newhouses, Sell Half Its Stake
WBD stock has been stagnant for three years, as the company has struggled with the impact of cordcutting on its TV business and competition in streaming.
Grammarly Acquires Email App Superhuman
The startup has been on an acquisition spree to expand its business beyond writing assistant software that checks grammar and syntax
Senate Votes to Remove AI Provision From Trump Tax Bill
Senators voted 99-1 in favor of removing the provision from Trump’s tax and spending bill.
Cato Networks Raises $359 million at $4.8 Billion Valuation
Israel-based Cato Networks raised $359 million in funding at a valuation of more than $4.8 billion as IPO plan stalled.
Elon Musk’s xAI Raises $10 Billion in Debt, Equity
The debt raise follows xAI's takeover of X, which had borrowed heavily to finance Musk's takeover of the social media site.
Judge Denies Apple Motion to Dismiss Antitrust Lawsuit
The judge found that the government's lawsuit had "sufficiently alleged indirect evidence" showing that Apple has monopoly power in the smartphone market.
Stablecoin Issuer Circle Applies for U.S. Bank Charter
Circle submitted the application in anticipation of proposed stablecoin legislation.
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