SpaceX, which owns artificial intelligence lab xAI, said Tuesday it has agreed to a potential acquisition of AI coding startup Cursor for $60 billion. The Elon Musk-founded rocket company, which is preparing for what could be the world’s biggest IPO in June, said in a post on X that Cursor had agreed to let SpaceX buy it at that price later this year. If SpaceX doesn’t, it would pay Cursor

Adobe announced a new $25 billion stock buyback, the latest such move by an enterprise software firm whose stock has been hit by anxieties about the impact of AI on the industry. Adobe shares have fallen 29% so far this year. The company has been a regular buyer of its own stock, spending $11.28 billion last year and $9.5 billion in 2024. The newest buyback runs through 2030. Adobe shares were

SpaceX increased its debt load by nearly two-thirds last year, to about $23 billion at the end of 2025 from $14 billion the year prior. That surge illustrated how much its acquisition of xAI added new financial obligations to the company, according to a confidential initial public offering ...

Microsoft on Tuesday cut the price of its Xbox Game Pass subscription, which gives people access to hundreds of video games, to boost demand for the service, whose growth has slowed for years. The flagship Game Pass subscription price will drop 23% to $23, while the lower-priced version that only includes PC games will drop 15% to $14. At the same time, Microsoft said new Call of Duty games

Prediction market Kalshi plans to offer crypto trading in the U.S., according to people familiar with the matter, putting it in direct competition with crypto exchanges such as Coinbase. Kalshi will enter the crypto market by offering perpetual futures, the most popular type of trading products, on crypto tokens such as bitcoin, the people said. After The Information reported on Kalshi’s

OpenAI has started to offer ChatGPT ad campaigns that charge advertisers based on how many people click on the ads, screenshots of the company’s ad manager show, confirming The Information’s report last week about the plans. The new ads are in addition to ads that OpenAI first launched in February, which charge advertisers based on how many people view the ads. Through OpenAI’s ad manager,

Snap’s Chief Financial Officer Derek Andersen is leaving the company early next month, Snap said late Monday, for a “new professional opportunity.” Andersen has been CFO since 2019. He will be succeeded by Doug Hott, who is vice president of finance, strategy and corporate development, Snap said. Andersen’s departure comes at a pivotal time for Snap, whose stock has lately been trading near

Latin America’s largest tech firm, e-commerce and fintech juggernaut Mercado Libre, is on sale. The company’s share price has dropped 9% over the past 12 months even as its business has continued to rocket along at a 30%-plus revenue growth rate. Investors are skittish about growing competition ...

SpaceX’s confidential IPO filing includes new plans to award Elon Musk with tens of millions of shares if the company’s market cap increases to $6.6 trillion, The Information reported. The IPO prospectus, reviewed by The Information, also revealed that Musk had increased his stake in SpaceX last year by purchasing $1.4 billion of stock from current and former employees, in a move that

Elon Musk increased his stake in SpaceX last year by purchasing $1.4 billion of stock from current and former employees, part of a series of moves leading up to the company’s initial public offering that increased his sway over the company. The large secondary stock purchase was made through the ...

Victory Giant Technology, one of Nvidia’s Chinese hardware suppliers, jumped as much as 60% on its debut on the Hong Kong Stock Exchange, as investors sought to capitalize on the global AI infrastructure boom. Shares of Victory Giant, which manufactures printed circuit boards used in AI servers, started trading in Hong Kong Tuesday after the company raised about $2.6 billion in the city’s

Chinese startup Moonshot AI released a new model that it says demonstrates significant advancements in coding, ahead of DeepSeek’s highly anticipated launch of its new V4 model, which also focuses on coding. Beijing-based Moonshot said its new Kimi K2.6 model is particularly strong in “long-horizon coding,” which refers to executing multi-step coding tasks that involve complex engineering work

The unrelenting demand for AI data centers is spilling over into lesser-known companies that supply components for essential tasks such as cooling chip servers. Phononic, a 17-year-old company whose semiconductor components prevent overheating in AI data centers, is hoping to cash in on that ...

The most anticipated CEO transition in Silicon Valley is finally official. Apple on Monday announced that Tim Cook will pass the CEO baton to John Ternus, the company’s senior vice president of hardware engineering. The changeover will happen September 1, when Cook will become executive chair, ...

Microsoft-owned GitHub said Monday it is restricting how much customers can use its Copilot AI coding tool and pausing new sign-ups for individual accounts as it struggles to handle an influx of traffic, triggering outages . The company is lowering the usage cap for all but the most expensive tiers of GitHub Copilot, which is effectively a price increase for customers that use the tools the

Amazon is investing $5 billion into Anthropic now and will invest up to an additional $20 billion tied to commercial milestones, the companies said on Monday. The deal is on top of $8 billion Amazon previously invested in the artificial intelligence company. While the companies did not say what milestones need to be met to unlock the additional investments, Anthropic said it plans to spend

Andreessen Horowitz said it had backed a new media company, MTS—an abbreviation of Monitoring the Situation—which will publish on Elon Musk’s X, “interviewing the main characters of the moment all day long.” The new company “aims to be the best place in the world to make sense of what’s happening RIGHT NOW,” Andreessen said in a blog post. The firm was founded by Chris Bakke, who sold his

Google has assembled a strike team of researchers and engineers to improve its AI coding models, according to three people with direct knowledge of the situation, as it looks to automate more of its own coding and ultimately its AI research. The push was prompted in part by Anthropic’s recent AI ...

The predictions site Polymarket is talking to investors about raising $400 million in funding at a valuation of about $15 billion including the new money, according to two people familiar with the talks. The financing would add to the $600 million already invested in the funding round by ...

Ask Washington’s most plugged-in politicians and lobbyists which Chinese chip company is the biggest threat to Nvidia and you’ll hear one name: Huawei Technologies. Nvidia CEO Jensen Huang has repeatedly cited Huawei’s rising prominence in both private meetings with lawmakers and public forums. ...