After years of mostly tumbleweeds, the initial public offering market is about to enter one of its most exciting and potentially volatile eras. SpaceX—with a valuation expected to exceed $1 trillion—is widely anticipated to go public as soon as June, with companies like Anthropic and OpenAI ...

Anthropic has struck a deal to use all of the compute capacity from xAI’s first data center in Memphis within the coming month, the company said on Wednesday. The data center, known as Colossus 1, has 300 megawatts of capacity and more than 220,000 Nvidia chips. xAI also said the companies had struck a deal involving Colossus 1, but did not confirm how much capacity Anthropic is buying.

Uber reported steady growth in the first quarter, with gross bookings—the dollar value of all transactions on the service—rising 25%, although only 21% on a constant currency basis. Uber’s free cash flow was essentially flat at $2.286 billion. An accounting change in the UK, relating to how revenue is classified, meant that Uber’s revenue from its mobility service barely grew on a constant

Elon Musk once offered Sam Altman a seat on Tesla’s board of directors as part of discussions about OpenAI possibly joining Musk’s electric vehicle company, a Musk ally testified on Wednesday. Shivon Zilis, who has worked for several of Musk’s ventures and has four children with the tech tycoon, described the episode under cross examination in the trial over Musk’s lawsuit against OpenAI.

When SpaceX hits the market, likely next month, Elon Musk’s fans will rush to buy shares no matter what the valuation. A few months later, a far different group of investors might also scramble to get shares, and they’ll also buy at any price.Index funds, the favorites of savvy, cost-conscious ...

In recent months, a lot of discussion has centered around the rising costs of AI, with even large, sophisticated public companies like Uber blowing through their 2026 AI budgets in a matter of months.Even venture capitalists are feeling the pain. One partner at a large fund told me that they ...

Four years after its was exiled from the U.S., Polymarket was desperate to get back into the country. To make that happen, the prediction market bought a derivative and futures exchange that had just gotten a U.S. license and hired its chief executive, Justin Hertzberg, to run Polymarket U.S. ...

China’s national artificial intelligence fund is in talks to invest in DeepSeek in a funding round that is now expected to value the company at more than 300 billion yuan ($44 billion), according to two people with knowledge of the discussions. DeepSeek, owned by Chinese hedge fund High-Flyer Capital Management, kicked off its first fundraising last month, and the valuation shot up from $10

AI server chip maker Advanced Micro Devices said Tuesday that its revenue growth would accelerate eight percentage points to 46% in the current quarter, after rising 38% to $10.3 billion in the first quarter. Shares rose 16% in after-hours trading. Sales of AMD’s AI graphics processing units are boosting its growth as cloud providers and developers such as Meta and Microsoft agree to purchase

Private equity firms Blackstone, KKR and EQT are in talks with Alphabet to get their portfolio companies access to Google’s AI models, according to a person with knowledge of the situation. The discussions follow the establishment of two separate companies set up by Anthropic and OpenAI and several PE firms that will employ technical consultants to integrate AI into the PE firms’ portfolio

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Meta Platforms is building a consumer version of the AI agent OpenClaw and a new agentic shopping tool, The Information reported on Tuesday. The company is training the OpenClaw-inspired agent, internally called “Hatch,” with the goal of internal testing by the end of June, one of the people said. The aim is for Hatch, the name of which might change once it is launched, to be able to perform

OpenAI co-founder and President Greg Brockman said that Elon Musk does not understand artificial intelligence, testifying Tuesday in Musk’s lawsuit against OpenAI. “Look, he knows rockets. He knows electric cars. He did not—and I believe does not—know AI,” Brockman said. His comment responded to a question from OpenAI’s lawyer about Brockman’s support for making Sam Altman CEO of OpenAI

News this week about private equity firms’ new joint ventures with OpenAI and Anthropic came at the right time for PE giants: just as they were about to sit down with their investors for days of meetings at the annual Milken Institute conference.The AI partnerships put the slew of PE firms ...

Google DeepMind employees in the U.K. sent a letter to management asking Google to voluntarily recognize the Communication Workers Union and Unite the Union as joint representatives of the AI research unit’s U.K.-based staff. The letter, sent Tuesday, is the first official step toward possible unionization for the 1,400 Google DeepMind employees based in the U.K., where the AI unit was

Meta Platforms is building a consumer version of the AI agent OpenClaw and a new agentic shopping tool, people familiar with the efforts said, as CEO Mark Zuckerberg pushes for products to deliver returns on the company’s huge artificial intelligence investments. Meta is training the ...

PayPal CEO Enrique Lores said on Tuesday he is committed to keeping the payment company’s major business lines together for now, mapping out a plan to cut at least $1.5 billion in costs while also reviving growth and overhauling the firm’s aging tech. PayPal has seen years of sluggish growth amid the rise of competitors like Apple Pay and Stripe, and has reportedly drawn interest from buyers

Microsoft is scrapping Gaming Copilot, an AI chatbot it had added to its Xbox mobile and PC gaming apps, the unit’s new CEO, Asha Sharma, said Tuesday. The move suggests she is being sensitive to criticisms that Microsoft has been aggressively steering Xbox customers to AI features. Sharma is trying to win back gamers’ trust and reinvigorate Xbox sales, which fell 5% in the first quarter

The number of software tollgates is expanding.ServiceNow on Monday joined firms such as HubSpot and Workday in detailing plans to charge customers that use AI agents to tap data in its apps. During its financial analyst day in Las Vegas, the company unveiled “Action Fabric”, a new layer— ...

When Google last month said it would supply Anthropic with an astonishing five gigawatts of server capacity, the companies didn’t put a dollar figure on that commitment. But as part of the deal, which begins next year, Anthropic plans to spend about $200 billion with Google over five years, ...