Musk’s xAI Is Burning $1 Billion a Month
The company is trying to raise $9.3 billion in debt and equity and plans to spend more than half of that sum in the next three months.
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JPMorgan to Launch Dollar Token on Coinbase’s Blockchain
The token, called JPMD, will be available only to approved institutional clients.
OpenAI Wants Microsoft to Accept 33% Stake in Business
Microsoft hasn’t yet agreed to the terms and the two companies are locked in negotiations.
Goldman Sachs Returns to SPAC Underwriting
Goldman Sachs is again open to underwriting new SPAC deals, after pulling back from it three years ago.
U.S. Officials Mulled Broader China Tech Restrictions Before London Trade Talks
U.S.officials are considering tougher tech export curbs as an option if tensions with China escalate again.
Gemini Chatbot Engineering VP Departs Google Amid AI Reorg
While usage of Google’s Gemini chatbot has grown dramatically over the past six months, it still trails ChatGPT.
OpenAI Inks $200 Million Deal With Pentagon for Cybersecurity
OpenAI has signed its first defense technology contract, a sign of its growing involvement in using AI to help government agencies operate more efficiently.
Crypto Billionaire Justin Sun’s Tron to Go Public in U.S.
Tron is set to go public on Nasdaq through a reverse merger, a deal brokered by an investment bank tied to Trump’s sons.
Tencent Not Considering Nexon Acquisition
While Tencent continues to make smaller investments in game companies, its current spending priority is around AI-related investments.
Amazon to Spend $13 Billion on Australia AI Data Centers
The investment underscores the AI era’s increasing globalization.
Wojcicki Scores Surprise Triumph in 23andMe Sale
Anne Wojcicki, the company’s ex-CEO, had already tried several times to purchase 23andMe.
Waymo Suspends Robotaxi Service in Los Angeles Due to Protests
The company also restricted service in parts of San Francisco
Google Reportedly Plans to Cut Ties with Scale AI After Meta Deal
The decision, while not surprising, would still result in a blow to Scale’s business.
23andMe Founder Wojcicki Agrees to Pay $305 Million to Buy Bankrupt Business
Wojcicki outbids Regeneron, a pharmaceutical company that agreed to buy 23andMe’s assets last month.
Meta, OpenAI, Palantir Tech Execs to Advise U.S. Army on Technology
Three prominent tech executives are joining a new U.S. Army innovation corps to help the military upgrade its technology.
Waymo Rides Cost More Than Uber and Lyft, Report Finds
The robotaxi company hired Lyft’s Head of Pricing earlier this year
Walmart, Amazon Explore Issuing Stablecoins
The companies are exploring using stablecoins to circumvent traditional payment systems.
U.S. says China’s Huawei Has Limited AI Chip Output in 2025
Huawei, China’s leading supplier of AI chips, is grappling with U.S. export restrictions on key chip manufacturing equipment.
Meta Finalizes $14.3 Billion Deal with Scale AI
Scale CEO Alexandr Wang will join Meta to work on its superintelligence efforts.
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