The Briefing by Martin Peers, Jessica Lessin and the team at The Information

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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

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Recent Editions

Elon Musk. Fabrice Coffrini/AFP/Getty Images.

Elon Musk Strikes Unusually Cautious Tone on Tesla Call

By Theo Wayt · Apr 22, 2026 5:00pm PDT · 1 comment

Tesla’s earnings calls are usually freewheeling affairs, with pulsating electronic music and wildly optimistic projections from CEO Elon Musk, who often likes to crack crude jokes and giggle. Today was different. Instead of the typical sci-fi rhapsodies about self-driving vehicles taking over the world and robots solving poverty, Musk spent much... Tesla’s earnings calls are usually freewheeling affairs, with pulsating electronic music and...

SpaceX's South Texas production facility. Photo by Reginald Mathalone/Getty Images.

What SpaceX’s Cursor Deal Says About xAI

By Martin Peers · Apr 21, 2026 5:00pm PDT

Elon Musk’s marketing pitch for the SpaceX IPO just got a bit more complicated. SpaceX’s revelation Tuesday afternoon that it was working closely with Cursor, the once-dominant coding firm, and might buy it for $60 billion, raises new questions about the health of xAI, Musk’s AI startup that SpaceX acquired for $250 billion in stock in early... Elon Musk’s marketing pitch for the SpaceX IPO just got a bit more complicated. SpaceX’s ...

Apple's Tim Cook and John Ternus. Getty Images.

Apple’s CEO Switch; Amazon’s AI Hedge

By Martin Peers · Apr 20, 2026 5:00pm PDT

Happy talk. That’s what you get when CEOs pass the baton, and so it was with Apple’s long-anticipated announcement that Tim Cook would give up the top job, effective in September. “I love Apple with all of my being,” Cook said in the announcement (he’s sticking around as executive chair). “I am filled with optimism about what we can achieve in... Happy talk. That’s what you get when CEOs pass the baton, and so it was with Apple’s...

Adobe CEO Shantanu Narayen at the company's 2025 summit. David Becker/AP.

Adobe and Google Cloud Head to Vegas

By Martin Peers · Apr 19, 2026 3:00pm PDT

Adobe CEO Shantanu Narayen at the company's 2025 summit. David Becker/AP.

Adobe and Google Cloud Head to Vegas

By Martin Peers · Apr 19, 2026 3:00pm PDT

If you’ve never visited Las Vegas, this week might be the time. Adobe and Google Cloud are both having big shows there this week, with Adobe kicking off its customer summit tomorrow and running through Wednesday. Google Cloud Next, conveniently, starts Wednesday and runs through Friday. Come for one, stay for both!The two companies might be in... If you’ve never visited Las Vegas, this week might be the time. Adobe and Google Cloud are both...

TSMC CEO C. C. Wei. Getty Images.

TSMC’s Strong Results is One More Bullish AI Sign

By Martin Peers · Apr 16, 2026 5:00pm PDT

Upbeat signals about the AI business are proliferating. The latest was chipmaking giant Taiwan Semiconductor Manufacturing Co.’s first-quarter report on Thursday, showing revenue growth of 40.6%, above the top end of its projected range. The company raised its full-year growth rate to above 30%. According to TSMC CEO C.C. Wei, “AI-related demand... Upbeat signals about the AI business are proliferating. The latest was chipmaking giant Taiwan...

Mike Krieger from Anthropic. David Paul Morris/Bloomberg via Getty Images.

Figma’s Apple Moment; Allbirds’ AI Pivot

By Martin Peers · Apr 15, 2026 5:00pm PDT

AI really is transforming the world! The latest example: Dying shoemaker Allbirds is turning itself into an AI chip firm called NewBird AI. Its stock rocketed 600% in response. But before we dig into that bizarre story, we should highlight what may be today’s more meaningful news: Anthropic executive Mike Krieger’s departure from the board of... AI really is transforming the world! The latest example: Dying shoemaker Allbirds is turning...

Photo via Globalstar

What Amazon’s Globalstar Purchase Means for SpaceX

By Martin Peers · Apr 14, 2026 5:00pm PDT

Every now and then we get a reminder that big tech’s pockets are as deep as the Mariana Trench. Amazon’s purchase of satellite firm Globalstar offers one of those reminders. Despite spending $200 billion this year on capital expenditures for its AI expansion and committing $50 billion on an OpenAI investment, Amazon can still find a few loose... Every now and then we get a reminder that big tech’s pockets are as deep as the Mariana Trench....

Elon Musk. Krisztian Bocsi/Bloomberg via Getty Images

What SpaceX’s Numbers Do and Don’t Tell Us

By Martin Peers · Apr 13, 2026 5:00pm PDT

Elon Musk. Krisztian Bocsi/Bloomberg via Getty Images

What SpaceX’s Numbers Do and Don’t Tell Us

By Martin Peers · Apr 13, 2026 5:00pm PDT

The mysteries of SpaceX are no more. My colleague Cory Weinberg today wrote the second of two stories in four days that pulled back the curtain on the finances of Elon Musk’s space company, which is planning to go public in a couple of months. You don’t have to wait for the formal IPO filing to get the dirt on SpaceX.The bottom line is that... The mysteries of SpaceX are no more. My colleague Cory Weinberg today wrote the second of two...

Netflix co-CEO Greg Peters. Photo by Getty

Netflix on Deck This Week; Pressure on Software Stocks Intensifies

By Martin Peers · Apr 12, 2026 3:00pm PDT

We interrupt our regular AI programming to talk about something more entertaining: Netflix! The video-streaming giant kicks off tech earnings season on Thursday with its first-quarter earnings. It’s the first quarterly report since Netflix walked away from its $82.7 billion deal to buy Warner Bros. Discovery’s streaming and studio operations, so... We interrupt our regular AI programming to talk about something more entertaining: Netflix! The...

OpenAI CEO Sam Altman. Anna Moneymaker/Getty Images.

OpenAI, Forecasts and Guesses

By Martin Peers · Apr 9, 2026 5:00pm PDT · 5 comments

Here’s a suggestion for OpenAI’s management: Stop issuing long-range revenue forecasts to investors. While we at The Information love getting our hands on these, as they make for good stories, it’s doubtful they’re doing OpenAI much good. How can anyone take seriously forecasts for revenue reaching as far out as 2030? (OpenAI projects total... Here’s a suggestion for OpenAI’s management: Stop issuing long-range revenue forecasts to...

Meta's Alexandr Wang. Ludovic Marin/AFP/Getty.

Meta Tries to Light a Fire in AI Market

By Martin Peers · Apr 8, 2026 5:00pm PDT

Guess what: Meta Platforms is still in the AI model game. You might have forgotten that fact, given that it’s been a little while since we’ve seen much new on the AI front from the Facebook owner. But CEO Mark Zuckerberg took to Threads on Wednesday to reveal the new model family, known as Muse, and its first member, Spark. Meta stock... Guess what: Meta Platforms is still in the AI model game. You might have forgotten that fact,...

Anthropic co-founder and president, Daniela Amodei. Bridget Bennett/Bloomberg/Getty Images.

Anthropic’s Revenue Growth Suggests OpenAI Is Overvalued

By Martin Peers · Apr 7, 2026 5:00pm PDT

Anthropic co-founder and president, Daniela Amodei. Bridget Bennett/Bloomberg/Getty Images.

Anthropic’s Revenue Growth Suggests OpenAI Is Overvalued

By Martin Peers · Apr 7, 2026 5:00pm PDT

The sooner Anthropic and OpenAI go public, the better—at least then we’d have proper financial disclosure. Both companies’ habit of updating the public on their revenue growth by references to either monthly revenue or annualized revenue, which is (loosely speaking) the last month’s revenue multiplied by 12, is getting old. And it’s not exactly... The sooner Anthropic and OpenAI go public, the better—at least then we’d have proper financial...

OpenAI CFO Sarah Friar and CEO Sam Altman. Kyle Grillot/Bloomberg/Getty Images.

OpenAI’s Never-Ending Soap Opera

By Martin Peers · Apr 6, 2026 5:00pm PDT · 2 comments

What’s the bet that OpenAI’s senior management team undergoes a shake-up before the company goes public? On Sunday, The Information reported that finance chief Sarah Friar has concerns about OpenAI’s readiness to go public and its ability to support its AI server commitments. And on Monday, The New Yorker published a long profile of CEO Sam... What’s the bet that OpenAI’s senior management team undergoes a shake-up before the company goes...

Michael M. Santiago/Getty Images.

What the Coming Big IPOs Mean for Tech Stocks

By Martin Peers · Apr 5, 2026 3:00pm PDT

The first quarter is over, and tech earnings season is only a couple of weeks away. Here’s something worth thinking about: Big tech stocks out of favor with investors—particularly Microsoft, Amazon and Meta Platforms—need to show something striking when they report for the quarter if they want to get out of the doghouse they’re in.If they don’t,... The first quarter is over, and tech earnings season is only a couple of weeks away. Here’s...

TBPN hosts John Coogan (left) and Jordi Hays. Photo courtesy of TBPN.

Why OpenAI's TBPN Deal is No Joke

By Martin Peers · Apr 2, 2026 5:00pm PDT · 2 comments

OpenAI’s shuttering of Sora wasn’t meant to be the end of its adventures in video generation, it turns out. Instead of using AI to generate videos, OpenAI wants to use videos to drive AI adoption.That’s one way of looking at the company’s rather startling decision on Thursday to buy TBPN, the Silicon Valley talk show that specializes in schmoozy... OpenAI’s shuttering of Sora wasn’t meant to be the end of its adventures in video generation, it...

OpenAI CEO Sam Altman. Nathan Laine/Bloomberg via Getty Images

Mixed OpenAI Investor Signals

By Cory Weinberg · Apr 1, 2026 5:00pm PDT

OpenAI CEO Sam Altman. Nathan Laine/Bloomberg via Getty Images

Mixed OpenAI Investor Signals

By Cory Weinberg · Apr 1, 2026 5:00pm PDT

Four months ago, Sam Altman got testy with one of his own investors, Altimeter Capital’s Brad Gerstner, in a podcast soundbyte heard round the world. “Brad, if you want to sell your shares, I’ll find you a buyer,” Altman said.Indeed, he seems to have found plenty of buyers. Four months ago, Sam Altman got testy with one of his own investors, Altimeter Capital’s Brad...

OpenAI CEO Sam Altman. Anna Moneymaker/Getty Images.

OpenAI’s Fundraising; The (Dismal) IPO Class of 2021

By Martin Peers · Mar 31, 2026 5:00pm PDT

Happy days are here again! Stocks have rallied, thanks to upbeat headlines concerning the Iran war. Don’t get too comfortable—things are likely to change quickly. In fact, the Iranians are threatening to attack U.S. tech facilities in the Middle East. Meanwhile, we got news today on a variety of fronts concerning Microsoft, Nvidia and Anthropic... Happy days are here again! Stocks have rallied, thanks to upbeat headlines concerning the Iran...

Traders on the New York Stock Exchange floor. Michael Nagle/Getty Images.

Nvidia Stock is Cheap—What That Signals

By Martin Peers · Mar 30, 2026 5:00pm PDT · 3 comments

Here’s a startling statistic: The last time Amazon shares traded as cheaply as they are now, as a multiple of earnings, was during the 2008 financial crisis, according to Koyfin data. Indeed, Amazon’s stock is so cheap that it’s trading at a discount to Walmart for the first time ever. Considering that Amazon’s revenue is growing at roughly... Here’s a startling statistic: The last time Amazon shares traded as cheaply as they are now, as a...

Elon Musk. Stefani Reynolds/Bloomberg via Getty Images.

SpaceX’s IPO Challenge

By Martin Peers · Mar 29, 2026 3:00pm PDT

Break out the oxygen masks. The number of breathless headlines is about to soar. SpaceX is expected to file its initial IPO paperwork with the Securities and Exchange Commission any day now. It will be the confidential version, so we won’t get to see it. But what is usually a procedural nonevent for the public has turned into a carnival thanks... Break out the oxygen masks. The number of breathless headlines is about to soar. SpaceX is...

The Los Angeles Superior Court on Tuesday. Genaro Molina/LA Times/Getty Images.

Social Media’s New Legal Overhang

By Martin Peers · Mar 26, 2026 5:00pm PDT

The Los Angeles Superior Court on Tuesday. Genaro Molina/LA Times/Getty Images.

Social Media’s New Legal Overhang

By Martin Peers · Mar 26, 2026 5:00pm PDT

It was a brutal day on Wall Street—particularly for shares of Meta Platforms, Reddit and Snap. While the Nasdaq dropped 2.4%, shares of the social media firms plunged between 8% and 10% as the implications of Wednesday’s verdict in the social media addiction lawsuit sank in. That verdict, which found Meta and Google’s YouTube liable for... It was a brutal day on Wall Street—particularly for shares of Meta Platforms, Reddit and Snap....