Intuit Lays Off 10% as TurboTax-Maker Prioritizes AI
Intuit CEO Sasan Goodarzi said the move was not a cost-cutting measure, and that Intuit will replace the roles with new hires.
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Recent Editions
Google Calls Off Talks to Buy Marketing Software Firm Hubspot
The online search giant has reportedly ended acquisition talks with Hubspot, sending the latter’s shares plummeting.
Biden Advisor Meets With Crypto Executives in Roundtable
Engagement comes as more crypto leaders donate to Trump
Microsoft Reaches Deal to Settle EU Antitrust Complaint
Microsoft still faces regulatory scrutiny over its software licensing practices in the UK and in the US.
AMD to Acquire Finnish AI Developer Silo in $665 Million All-Cash Transaction
The acquisition will help AMD close its gap against chip giant Nvidia.
Microsoft and Apple Give Up OpenAI Board Seat Amid Antitrust Probes
The shake up comes as Microsoft’s $13 billion investment in the startup is under scrutiny by antitrust regulators including the FTC and the European Commission.
CNN Announces Layoffs Amid News and Business Revamp
CNN said it plans to launch a new subscription product for CNN.com and invest in streaming video, including FAST channels, as it overhauls its news operations.
VC Firms Index, Flagship Raise New Funds
So far this year, U.S. VC firms have raised $37.4 billion in new capital, slightly more than the $33.3 billion raised in the first half of 2023.
Musk Says xAI Will Build Supercomputer on Its Own
The company had been discussing renting the chips from Oracle in a deal that could have been worth $10 billion over several years, The Information previously reported.
Tesla’s EV Market Share Slips Below 50% in US
Overall, US electric vehicle sales grew 11.3% in the second quarter, according to Cox Automotive research.
FTC Bans Messaging App from Offering Service to Minors
The app's co-founders agreed to pay $5 million and to stop marketing the app to teens, as part of a settlement.
Etsy Adds New Product Labels to Highlight Unique Items
The company has been working to differentiate itself from bargain sites like Temu.
Athletic Brewing Doubles Valuation to $800 Million in General Atlantic-led Round
The funding round is part of a larger wave of investment in “functional beverages” that claim to offer health benefits.
UiPath to Lay Off 10% of Staff to Cut Costs
The company has recently come under pressure from newer generative AI products offered by competitors.
Sequoia’s Former China Affiliate Closes New Yuan Fund
The success in domestic fundraising despite China's economic challenges is a sign of strength for HongShan.
Bain Capital, Software Firm Envestnet Approach a Deal
The buyout firm is nearing a deal to take Envestnet, which sells software to financial advisors and wealth managers, private.
Mike Bloomberg Donates $1 Billion to Fund Free Medical Tuition
The donation ranks among the largest ever to a university.
Skydance and Paramount Unveil Merger
Skydance promised to bring its tech-forward management approach to overhauling Paramount.
Ellison’s Skydance Gets Closer to Paramount Deal
A deal could rejuvenate Paramount, owner of CBS, Comedy Central, Paramount+ and the Paramount Pictures film studio.
Revolut Founder to Sell Stock in Secondary Offering
Revolut is planning a secondary share offering with a valuation targeted at $40 billion.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy