Nvidia’s investment spree in startups that use its AI chips has stoked traditional venture capital firms’ interest in those companies. That has paved the way for brand-new startups taking on Anthropic and OpenAI to raise back-to-back funding rounds, sometimes in a matter of weeks. In the latest ...

Cloudflare said it is cutting about a fifth of its workforce, joining a growing list of tech companies that have cited AI as a reason to slash jobs. The company, whose content delivery network is used by many of the world’s websites, announced the plans on Thursday as it reported quarterly financial results and projections that sent its stock down more than 15% in after-hours trading. The

Coinbase, the biggest U.S. crypto exchange, reported first-quarter revenue of $1.4 billion, down 31% from a year ago amid a crypto market downturn. Shares fell 5% in after-hour trading. The company’s net loss in the quarter was $394 million, down from a net profit of $65.6 million a year ago but smaller than a loss of $667 million in the prior quarter. Monthly transacting users fell 15% to 8.2

CoreWeave’s revenue roughly doubled in the first quarter to $2 billion, while its operating loss jumped to $144 million. But the cloud provider said its revenue backlog has reached nearly $100 billion, up from $67 billion at the end of last year. The metric, which represents demand that has not yet been delivered, is a closely watched figure among cloud providers, who are all racing to secure

Airbnb’s revenue growth accelerated to 18% in the first quarter, from 10% in the previous two quarters, although the accommodation hosting service projected slightly slower growth for the second quarter. Airbnb projected revenue would grow between 14% to 16% in the second quarter. The company said it expected the volume of nights booked to also decelerate, partly related to the conflict in the

Broadcom’s stock dropped 2% following a report in The Information about an $18 billion financing snag in the chipmaker’s custom AI processor deal with OpenAI. Shares have partly recovered since then. Broadcom has stipulated it will only finance the initial phase of production if Microsoft agrees to purchase roughly 40% of the newly designed processors. But while Microsoft has earmarked data

Allen Control Systems, a four-year-old startup building an autonomous weapons station that can shoot down drones, is aiming to raise new funding at a valuation of $2 billion before the investment, according to two people with knowledge of the efforts. The startup is targeting a round size of ...

AI agents are forcing enterprise software companies to defend the business model that made them rich: charging for every human user. Companies like ServiceNow and SAP are starting to redraw the boundaries around their software, with some restricting how outside agents get in. Others are testing ...

Datadog reported revenue grew 32% to more than $1 billion in its March quarter—up 7% from last year and 3% from last quarter—and raised its full-year projection to 26% growth, from the 20% it issued a few months ago. AI is becoming a business driver for Datadog, which sells software for tracking the performance of cloud applications and spotting security threats, CEO Olivier Pomel said on an

When OpenAI and chip designer Broadcom announced last fall that they would make custom artificial intelligence chips together, they positioned it as a done deal. The companies said the deal would bring enough chips online before 2030 to consume 10 gigawatts of power, equivalent to five Hoover ...

After Microsoft bought the rights to use OpenAI’s technology for free, Microsoft developed a case of Copilot fever, launching Copilot-branded AI features in dozens of products, from Office and Bing to PowerBI and Dynamics.Microsoft appears to be dialing it back a bit, seemingly in response to ...

The U.S. Department of the Treasury has privately demanded that Binance comply with a monitoring program U.S. regulators imposed on the crypto exchange in 2023, when it pleaded guilty to charges related to sanctions and anti–money-laundering violations, The Information has learned. The Treasury ...

OpenAI and Anthropic’s servers are generally bursting at the seams, while xAI’s mountain of servers aren’t as busy, as we and others recently reported. That’s burning a multibillion-dollar hole in the pocket of new xAI owner SpaceX, which is trying to go public soon and is sure to receive ...

Elon Musk’s lawyers are close to resting their case against OpenAI, but his path to winning a blockbuster legal victory looks steeper than when the trial began, according to lawyers following the case. The Musk team is expected to wrap up its presentation by Monday, after nearly two weeks trying ...

Anthropic CEO Dario Amodei said Wednesday that an 80-fold jump in revenue and customers’ AI use in the first quarter took the company by surprise. “We tried to plan very well for a world of 10x growth per year,” he said on stage during the company’s Code With Claude developer conference in San Francisco. “That is the reason we have had difficulties with compute.” It’s not clear what figures he

Is xAI the next CoreWeave? SpaceX’s announcement on Wednesday that its xAI unit had struck a deal to supply computing capacity to Anthropic comes a couple of weeks after xAI struck a similar deal with AI coding startup Cursor. Last we checked, AI firms with leading models need all the computing ...

Snap’s revenue growth accelerated to 12% in the first quarter, lifted by strong growth in the social media firm’s small subscriptions business. Advertising, which contributes the bulk of Snap’s revenue, grew just 3%, a slower rate than the previous quarter. The anemic growth in advertising suggests Snap has not overcome its main hurdles, relating to the limited appeal of its mostly young

Warner Bros. Discovery’s revenues fell 3% in the first quarter, the entertainment firm reported Wednesday, highlighting the challenges facing the Ellison family’s Paramount Skydance, which plans to buy WBD later this year. WBD’s streaming operations, including HBO Max, reported 7% higher revenues and 17% increased profits. The company’s film studios segment also posted higher revenues and

Nvidia is partnering with Corning, which manufactures glass used in smartphones as well as optical fiber and hardware components for data centers, to build three new factories in North Carolina and Texas focused on optical technologies. As part of the arrangement, Corning has issued Nvidia warrants to purchase up to $3.2 billion of Corning’s stock. The biggest chunk of the warrants are priced

DoorDash reported 33% growth in revenue, to $4 billion, a slowdown from the fourth quarter but still several percentage points higher than the growth rate the food-delivery firm had reported for most of last year. The strong growth reflected the acquisition in October of the European delivery firm Deliveroo. DoorDash said its revenue growth would have been only 21% if the impact of Deliveroo