IBM Stock Drops 25% As Mainframe Business Suffers
The company said its infrastructure revenue for the June quarter fell 7% from the previous year.
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The Information AM
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Recent Editions
Google DeepMind’s Demis Hassabis Calls for New U.S.-Led AI Standards Body
The call to action comes amid uncertainty with the Trump administration’s approach to AI regulation.
New York Becomes First State to Enact Data Center Moratorium
The executive order signed by Gov. Kathy Hochul will last for one year.
DeepSeek Plots Another Funding Round, Weeks After Raising $7.4 Billion
The Chinese AI lab is embracing external money at a fast pace after seeing Mythos’ breakthroughs.
Chinese Humanoid Startup LimX Dynamics Closes Pre-IPO Funding at $2.2 Billion Valuation
The company has raised $400 million over the past six months as it eyes global expansion.
Smartphone Shipments Fall to Lowest Q2 Level in 13 Years
Counterpoint attributed the sales drop to rising prices for smartphones caused by higher memory chip costs, which flowed through to price rises for some models.
Meta Doubles Louisiana Data Center Capacity
The project’s expansion highlights Meta’s increasing appetite to secure more compute capacity.
Samsung Races to Add Chip Capacity, Moves Up Plant to 2029
Samsung accelerates a key factory by up to two years, part of a $1.35 trillion push into AI chips and memory in South Korea.
Shein Wins Chinese Regulatory Approval for Hong Kong IPO
The online fashion retailer first sought to list in New York and London but failed.
States led by California Nearing Suit to Block Paramount-Warner Deal
The effort comes as states step up their antitrust enforcement as the Trump Administration declines to block deals.
Vinod Khosla and Family Agree to Buy Seattle Seahawks for $9.6 Billion
The price would be a record for an NFL team.
Exclusive: Elon Musk Asks Tesla Staff to Move to Using Grok
Tesla staff have been testing beta versions of Grok in recent months.
Cursor Working on Competitor to Claude Cowork
Cursor began working on the product after it started leasing compute from SpaceX’s AI unit in April, The Information reported.
SK Hynix Raises $26.5 Billion in Record Nasdaq Debut
The amount raised eclipsed Alibaba’s $25 billion New York IPO in 2014.
MiniMax CEO Vows to Forgo Salary Until Achieving AGI
The move comes as the Chinese AI developer’s share price has plunged in recent months amid intensifying competition from domestic rivals.
OpenAI Leader Fidji Simo Stepping Down Amid Illness
Longtime tech executive says she will transition to being part-time adviser to the AI giant.
Mercor Buys Andreessen Horowitz-Backed Startup Deeptune
Mercor said Thursday it had bought Deeptune, which designs reinforcement learning environments.
Coinbase Chief Legal Officer Paul Grewal to Step Down
Grewal fought SEC’s lawsuit against Coinbase and led negotiations over crypto laws.
OpenAI Unveils Claude Cowork Competitor, Desktop ‘Superapp’
After realizing that its Codex AI coding tool is better than ChatGPT at completing long-running, multistep tasks, OpenAI is giving the product a bigger role.
Anthropic’s Trust Names Former Fed Chair Bernanke as New Member
Bernanke's naming fills a key opening on the trust, which still has one of five seats vacant.
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