It may not seem like it now, as we barrel toward SpaceX’s public debut this week, but not every initial public offering will involve a $1.75 trillion rocket-ship company. Soon enough, public investors may get to judge a much more down-to-earth business: school bus fleets. Sequoia Capital-backed ...

Robinhood said on Tuesday it’s cutting 10% of its workforce, or about 290 roles, and closing a small number of open roles, in an effort to stay lean. “Because our financial position is strong, we are making this change proactively,” CEO Vlad Tenev said in a note to employees. “We must be a lean, hyper-focused team where every single individual is empowered to make a massive impact.” The

Software companies and their shareholders have watched the recent growth of Anthropic and OpenAI with unease. But the mood is shifting as customers complain about AI costs, and the old guard smells blood in the water.Last week, Palantir CEO Alex Karp and his lieutenants told his customers at an ...

Broadcom said Tuesday that it is launching a new fund—backed by Apollo and Blackstone—to help finance more than 20 gigawatts of AI data centers through 2028 using chips designed by Broadcom, including projects tied to Anthropic and OpenAI. Apollo will lead an initial $35 billion commitment to launch the fund, alongside participation from Blackstone. Broadcom said the financing will support its

Big news: Anthropic has a new version of a Mythos-class model coming later today called Claude Fable, according to a person with knowledge of the release. It’s a neutered version of Mythos with safeguards to protect against its misuse either in cybersecurity hacks or the construction of ...

When Founders Fund earlier this year set out to raise its latest fund, a $6 billion vehicle to back mature startups like Anduril, it was the first time in the firm’s two-decade history it had asked its limited partners for more cash within two years of its prior fundraise. The reason: It had ...

The U.S. Department of Defense on Monday added more than a dozen Chinese tech companies including Alibaba and Baidu to a blacklist, a move that could further escalate tensions between the world’s two largest economies. Electric vehicle makers Byd and Nio, humanoid maker Unitree, Yangtze Memory Technologies and ChangXin Memory Technologies, China’s two largest memory chip makers, were also

Databricks, a provider of database management software, has discussed raising more money in a funding round that could kick off within the next month, according to a person with direct knowledge of the conversations. Databricks has indicated to investors the new round could lift its valuation to ...

OpenAI on Monday had good news and bad news for the media corps that avidly follows its every twist and turn. The good news is that it filed confidentially to go public, a week after Anthropic did the same thing. (Yippee!) The bad news: OpenAI said it has “not decided on timing yet” and “it may ...

OpenAI said on Monday that it has filed draft paperwork for an initial public offering with the Securities and Exchange Commission, a week after rival Anthropic said it had done the same. OpenAI also plans to let employees sell their shares ahead of the IPO, according to a person familiar with the situation. OpenAI has held several such tender offers in recent years, allowing insiders to sell

Apple launched a much anticipated new version of its Siri voice assistant at the start of its annual developer conference on Monday, which users will be able to access through a new Siri app. The refreshed voice assistant, now called Siri AI, which uses Google’s Gemini models, will allow users to communicate with it using written commands. As with OpenAI’s ChatGPT and Anthropic’s Claude, users

A coalition of state attorneys general has sent OpenAI a subpoena seeking documents about how the ChatGPT maker’s chatbot affects users, an OpenAI spokesperson confirmed. The attorneys general directed OpenAI to send them information including advertising, user engagement, handling of consumer data and activities related to minors and seniors, The Wall Street Journal first reported. The New

Roku is in discussions to be acquired by another company, Bloomberg reported, sending shares of the streaming device maker up 20%. At the higher price, Reddit has a market capitalization of $21 billion. The idea that Roku might be acquired isn’t new. Roku’s ability to survive as a standalone entity has long been a question, particularly given that most of its revenue comes from selling ads

On a dusty stretch of prairie in Abilene, Texas, anxious hardware engineers from Crusoe, a data center developer for OpenAI and Oracle, have been working overtime to get natural gas turbines to work harmoniously with one of the most expensive AI supercomputers in history.It has proven harder and ...

Goldman Sachs and JPMorgan are exploring ways to trade on the cost of computing power, according to people familiar with the matter. That includes trading futures contracts tied to rental prices for graphics processing units, among the scarcest resources of the AI boom, which exchanges plan to ...

Last week, Anthropic boasted that Claude is now writing 80% of Anthropic’s code, which the company presented as a harbinger of a critical leap in artificial intelligence called recursive self-improvement. That’s when models are so capable that they can create the next generation of AI without ...

TSMC’s capacity struggles are turning into a boon for Intel. As the Taiwanese chip making giant struggles to meet overwhelming demand for its chip manufacturing capacity, several major AI chip design companies, including Google and Nvidia, are quietly turning to Intel as a backup manufacturer ...

Nvidia and SK Hynix have signed a multiyear deal to work together on advanced memory chips, as AI demand strains global memory supply. The agreement covers chip design and manufacturing, and includes memory for Nvidia’s Vera Rubin platform, its next major AI system. The deal, announced during Nvidia CEO Jensen Huang’s visit to South Korea, gives SK Hynix an edge as it ramps up HBM4, the next

This promises to be an action-packed week. On Monday, Apple kicks off its annual Worldwide Developers Conference, or WWDC for short, where the tech giant is expected to unveil a new operating system for its mobile devices, complete with more advanced AI features. And then later in the week, ...

Revolut, a London-based financial app, is aiming to sell at least $750 million worth of shares in a secondary sale set to kick off next week, with the total potentially pushing far higher amid early signs of strong investor demand, according to a person with knowledge of the discussions. There ...