Elon Musk and Sam Altman don’t often see eye to eye, as they made clear in their recent legal dispute. But when it comes to making outlandish projections about future growth, the two men seem to share a common philosophy.As we reported earlier on Thursday, SpaceX’s lead bank on its upcoming IPO, ...

For most of this decade, venture capital has morphed from a game of spotting the best young startups to making a more complex range of investments—from public stocks and cryptocurrencies to multibillion-dollar bets on older startups. General Catalyst even bought a hospital system!But industry ...

S&P Dow Jones Indices said Thursday it had decided not to change its rules to make it easier and faster for SpaceX to quickly join the S&P 500 and other indices after it goes public. The group’s index committee had been considering a series of changes that would have let so-called megacap companies join the S&P 500 after six months of being public, compared to 12 months

Airbnb chief executive Brian Chesky is in early stage talks to fund a new AI lab, according to a person with knowledge of the discussions. The lab will aim to develop models with a possible design focus, according to a Bloomberg report. In recent months, Airbnb has made strides to become a more all-encompassing travel app, with new services like car rentals and hotel bookings. Chesky, who

Cybersecurity and data recovery firm Rubrik reported 39% higher revenue of $387 million for the April quarter, far exceeding what Rubrik had projected for the quarter. Rubrik, which in February released a new software tool to help companies manage intelligence agents, also upped its revenue projection for fiscal 2027 to $1.64 billion at the low end, representing growth of above 27%, a marked

Microsoft CEO Satya Nadella on Thursday rebuked an internal memo that another company executive had written advocating to “make people addicted” to its new AI agent product called Scout. “This is absolutely a non goal! If anything we are doing the exact opposite. We want to make sure AI empowers and adds real value to human endeavor and broad economic growth! We should make our teams clear

Cybersecurity stocks CrowdStrike and Palo Alto Networks have risen 50% or more this year based on the perception that an AI-driven increase in cyberthreats will make their services all the more important. Yet Rubrik, which also stands to benefit from that trend, is up only 1% so far this year. ...

SpaceX, planning the largest initial public offering of all time next week, will already need to raise more cash by next year if private forecasts from analysts at Goldman Sachs come to fruition. SpaceX’s lead bank on the IPO, in aggressive forecasts shared with prospective investors this week, ...

Tech firms ranging from Block to Meta Platforms have announced mass layoffs in the past year, frequently citing AI as allowing them to do more with less people. In a variation on that approach Snowflake says it used layoffs to force software engineers to use AI tools and become more productive.“ ...

Two members of Congress released a sweeping discussion draft for an AI regulatory framework on Thursday, proposing a bipartisan federal approach ahead of November’s midterm elections. Led by Reps. Jay Obernolte (R-Calif.) and Lori Trahan (D-Mass.), the bill represents the latest Congressional attempt to find consensus on thorny issues such as preemption of state rules. The 269-page draft

Pinterest said it would spend $4 billion on Amazon Web Services infrastructure through 2031, the largest infrastructure commitment in the company’s history. As part of the deal, Pinterest will use AWS’ Trainium chips for AI workloads and expand its use of Amazon’s CPU Graviton. Pinterest has been an AWS customer since 2010, paying for AWS services under long term deals. In 2021, for instance,

The billionaire co-founder of Databricks and Perplexity AI, Andy Konwinski, is singularly focused on plugging the years-long drain of talent from academia to Big Tech.He wants to encourage academics to focus on publishing more openly available research, a reaction to the move by frontier AI ...

Helion Energy, a nuclear fusion startup backed by OpenAI’s Sam Altman, still has to prove it can produce electricity to serve data centers and other customers. But investors seem confident it can deliver. The Everett, Wash.–based company said it has raised $465 million in a funding round led by ...

Meta Platforms is considering charging up to $200 a month for its planned consumer version of the OpenClaw AI agent tool, The Information reported , an ambitious target that would rival top tier offerings from established AI giants. The product, currently called Hatch, could launch with tiered pricing including the $199.99 premium subscription that would include higher usage limits, according

Benchmark has raised two new funds, one of which will invest in later-stage startups, breaking with the firm’s tradition of exclusively backing early-stage companies. The firm will invest in those more mature companies through a $1.25 billion fund and earlier ones through a $750 million fund, according to a source familiar with the raise. Benchmark is following in the footsteps of its peers,

It's no secret that criminals are using AI to streamline computer hacks in hopes of emptying out people’s bank accounts (never has it looked more appealing to stash cash under the mattress!). Cybersecurity executives, meanwhile, are rubbing their hands with glee at the influx of business they ...

Apple is currently on track to launch its overhauled Siri in September, to run in part on Google’s cloud computing servers using Nvidia chips, according to people familiar with the matter. While Apple will try to run as much as possible of the new Siri on devices such as iPhones, certain parts will require more compute power and will run on Google Cloud, as The Information has previously

Broadcom reported 48% higher revenue for its second fiscal quarter, ended May 3, as its AI chip revenue jumped 143% to $10.8 billion. Overall revenue of $22.187 billion was roughly in line with the company’s projection issued in early March. Broadcom has benefited from growing efforts by companies such as Google and OpenAI to develop their own AI chips. That has turbocharged the semiconductor

Meta Platformsis considering charging up to $200 a month for its planned consumer version of the OpenClaw AI agent tool, according to internal documents, an ambitious target that would rival top tier offerings from established AI giants. The product, currently called Hatch, could launch with ...

Nvidia has bought Kumo AI, a five-year-old startup that sells predictive AI software to enterprises, for more than $400 million, said a person with knowledge of the deal. The acquisition, first revealed by an Nvidia executive in a LinkedIn post on Tuesday, should expand Nvidia’s roster of AI ...