Chinese AI developer DeepSeek on Wednesday launched the official version of its most advanced model, V4-Pro, which offers capabilities comparable to Moonshot AI’s popular Kimi K3 model on some benchmarks at much lower prices. DeepSeek’s latest release further intensifies the competition among increasingly powerful Chinese open-source models and U.S. frontier models from Anthropic and OpenAI. A

Remember two weeks ago when Apple passed Nvidia in market capitalization? That’s now ancient history. At today’s close, Nvidia’s market capitalization was $1 trillion higher than Apple’s. In the past two weeks, Nvidia stock has risen 18% and Apple’s has fallen 10% or so. That seems to be mostly ...

Cisco Systems shares dropped 5% after its fourth quarter earnings, even after the company reported strong revenue growth and said it is being fueled by cloud provider customers increasing their spending on its AI networking chips and switches. Cloud providers are turning to Cisco AI chips and networking switches to speedily shuttle data between groups of computers running graphics processing

Cerebras, which designs AI chips meant to run AI models extra fast, reported rapid sales growth for the latest quarter but investors sent its shares down sharply on competition and other concerns. Revenue for the three months through June rose 74% from a year earlier to $180 million, Cerebras said Wednesday. Of that, $54 million came from hardware sales, about half the amount from last quarter

Kalshi, the biggest prediction market, is in advanced talks to raise at least $750 million in a new financing round at a $40 billion valuation, according to people familiar with the matter. Sequoia Capital and Wellington Management are in talks to be co-lead investors, some of the people said. The funding size is not finalized and is subject to change, the people said. Sequoia is an

Thrive Capital founder Josh Kushner and former Walt Disney Co. CEO Bob Iger have reached a deal to buy control of one of the most storied franchises in professional sports, the Los Angeles Lakers. ESPN reported that the deal will value the Lakers at $12.5 billion, a significant jump in the franchise’s $10 billion value last year when businessman Mark Walter purchased a controlling stake in the

Google raised the prices of its newest Pixel smartphones by $100, a sign of how rising memory chip prices is driving up costs of consumer hardware. The tech giant unveiled its Pixel 11 lineup of phones on Wednesday, revealing that the top-tier 11 Pro would cost $1,099, $100 more than the 10 Pro released a year ago. Similarly, the base model, the Pixel 11, will cost $899, up $100 from the Pixel

If the number of times I called someone this week and heard their cellphone make the familiar ring of a European phone is any indication, many of you are on vacation. Still, there are few breaks these days in the world of financing AI.With trillions of dollars due to pour into chips and data ...

Tencent Holdings said its capital expenditures in the second quarter nearly tripled from a year earlier to 52.8 billion yuan ($7.8 billion), as the Chinese tech giant beefed up its computing infrastructure to train better AI models and meet growing demand for its coding and productivity tools. “We are allocating a very substantial proportion of new compute to our own models and applications,”

Every AI executive I talk to these days wants to tell me what their models can now do. James Sagan, the low-profile investor who just bought 16% of OnlyFans at a $3 billion valuation, spent most of our interview telling me what his platform is betting AI can't do.In a wide-ranging exclusive ...

Nebius, another neocloud using the AI boom to establish itself in the cloud computing sector, reported a 454% expansion in second quarter revenues to $582 million thanks to surging demand for AI computing. Nebius’ cash burn also rose, to $3.4 billion from $678 million a year earlier, due to soaring capital expenditures on new chips, servers and data center expansion. Capex was $5.657 billion

The Senate’s postponement of a vote on the crypto regulatory law, the Clarity Act, ensures that the legislation is all but dead for the moment. But it didn’t cover some of the fastest-growing parts of the crypto market. And firms in those sectors have been hard at work lobbying regulators to ...

The business of running a fast-growing but young cloud computing firm in the age of AI is not necessarily a profitable one. Take CoreWeave, perhaps the best known of a crop of neoclouds trying to take on the well-established cloud firms. On Tuesday it reported second-quarter earnings showing ...

CoreWeave, the highest profile of a group of neoclouds taking on established cloud firms, reported that revenue more than doubled in the second quarter to $2.575 billion. But CoreWeave’s cash burn also more than doubled, to $5.7 billion. The company’s high cash burn reflects the massive capital expenditures it is laying out to build a network of data centers, along with sharply rising interest

Software dealmaking is so hot in Israel right now that an Israeli VC fund notched its first exit before it had even wrapped up fundraising.Team8, which just raised $365 million to back seed and Series A companies, co-led a $48 million fundraise for Tel Aviv-based Koi late last year out of a new ...

Google’s Gemini reached 1 billion monthly users, making it the fastest-growing product in the company’s history, CEO Sundar Pichai said Tuesday on X . The announcement indicates Google is continuing to grow its share of the market for consumer chatbots that’s been dominated by OpenAI’s ChatGPT. The search giant reached the milestone less than a month after reporting 950 million monthly active

World Cup wagers helped double Kalshi’s revenue to a more than $4 billion annualized rate in July, from a pace of over $2 billion two months earlier, a person familiar with the matter said. That growth is set to drive another jump in the prediction market’s valuation. Kalshi is in advanced talks ...

OnlyFans and its new investor Architect Capital plan to introduce custom financial services to the adult content platform, Architect founder James Sagan said in an interview on The Information TITV Tuesday. Sagan highlighted that OnlyFans creators remain among the highest-earning yet most underbanked entrepreneurs in the world due to traditional banking reluctance and structural Know Your

The U.S. Department of Agriculture, which spends about $3 billion a year on IT, uses Salesforce for “pretty much everything” including case management and maintaining its public facing portals and websites, according to chief information officer Sam Berry. But over the last year, the sprawling ...

Craft Ventures, the VC firm helmed by former White House AI czar David Sacks, is raising its first fund since Sacks stepped away from the Trump Administration role earlier this year, according to a securities filing and two people with knowledge of the effort. The firm is targeting around $1 ...