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A Foundation robot. Screenshot via YouTube
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Ex-Synapse CEO’s Robot Startup Targets $1 Billion Valuation

By Michael Roddan and Natasha Mascarenhas · May 7, 2025 5:33pm PDT · 2 comments
A humanoid robotics startup founded by the former chief executive of failed fintech firm Synapse is aiming to finalize a $100 million fundraising that will value the year-old company at $1 billion, according to people who spoke to the company’s founders this week. The startup is in talks to raise money from the family office of a member of the... A humanoid robotics startup founded by the former chief executive of failed fintech firm Synapse...
David Bailey. Photo by Getty.
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David Bailey, Who Advised Trump on Crypto, Plans Bitcoin Investing Firm

By Yueqi Yang · May 7, 2025 8:05am PDT · 1 comment
David Bailey, who advised President Donald Trump on crypto policy during his 2024 campaign, is raising $300 million to launch a publicly traded bitcoin investing company, according to people familiar with the matter. He is following a string of companies that buy up crypto seeking to replicate the success of Michael Saylor’s Strategy, which... David Bailey, who advised President Donald Trump on crypto policy during his 2024 campaign, is...
OpenAI CEO Sam Altman, left, and Microsoft CEO Satya Nadella. Photo via Getty
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OpenAI Plans to Slash Revenue Share to Microsoft After Restructuring

By Sri Muppidi, Aaron Holmes, Stephanie Palazzolo and Erin Woo · May 6, 2025 6:52pm PDT · 2 comments
As OpenAI moves ahead with a corporate restructuring to appease its investors as well as regulators, it needs to get clearance from Microsoft, its biggest outside shareholder and business partner. One part of OpenAI’s plan involves reducing the percentage of revenue it shares with Microsoft. In financial projections OpenAI shared with investors,... As OpenAI moves ahead with a corporate restructuring to appease its investors as well as...
Illustration via Getty.
Amazon and Shopify Sellers Face Crunch as E-Commerce Lenders Pull Back
By Theo Wayt and Ann Gehan · May 6, 2025 11:01am PDT
Illustration via Getty.
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Amazon and Shopify Sellers Face Crunch as E-Commerce Lenders Pull Back

By Theo Wayt and Ann Gehan · May 6, 2025 11:01am PDT
On Friday, Amazon sent many merchants selling goods on its e-commerce site a memo with pointers on how to navigate trade uncertainty amid steep U.S. tariffs. Suggestions included pivoting to selling in new countries and reshuffling inventory to different warehouses. Amazon also suggested merchants consider taking out loans, giving them funds to... On Friday, Amazon sent many merchants selling goods on its e-commerce site a memo with pointers...
Art by Mike Sullivan
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Apple Plans iPhone Release Schedule Shakeup, New Styles

By Wayne Ma · May 3, 2025 8:00am PDT · 1 comment
After years of incremental changes to the iPhone, Apple is mixing things up much more dramatically. Later this year it’s expected to introduce an ultrathin new device, followed by a foldable phone expected in 2026. Also next year, Apple plans to change its release strategy, launching pricier, more premium versions in the fall as usual, but... After years of incremental changes to the iPhone, Apple is mixing things up much more...
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Anthropic to Buy Back Employee Shares at $61.5 Billion Valuation

By Stephanie Palazzolo · May 2, 2025 2:01pm PDT · 2 comments
Anthropic is offering to buy back shares from hundreds of current and former employees, the first transaction of its kind for the four-year-old company. The buyback is a sign of how integral these have become in rewarding employees at fast-growing startups and retaining rare research talent in the artificial intelligence talent war. San... Anthropic is offering to buy back shares from hundreds of current and former employees, the...
Art by Clark Miller.
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Advertisers Plan Cuts to TV Advertising As Economic Worries Mount

By Sahil Patel · May 2, 2025 8:00am PDT
Google and Meta Platforms have signaled they’re not seeing much pullback by advertisers worried about the economy, but it’s likely to be a different story for TV networks and video-streaming services. TV ad sales executives and ad buyers say marketers are already indicating plans to cut back spending on entertainment and news programming by as... Google and Meta Platforms have signaled they’re not seeing much pullback by advertisers worried...
Jensen Huang. Photo by Getty.
Nvidia Is Again Working on China-Tailored Chips After U.S. Export Ban
By Qianer Liu · May 2, 2025 6:00am PDT
Jensen Huang. Photo by Getty.
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Nvidia Is Again Working on China-Tailored Chips After U.S. Export Ban

By Qianer Liu · May 2, 2025 6:00am PDT
The U.S. government is steadily tightening the noose on Nvidia’s sales to China. But the AI chip giant isn’t giving up on the market. Nvidia has told some of its biggest Chinese customers, including ByteDance, Alibaba Group and Tencent Holdings, that it is tweaking the design of its artificial intelligence chips so they can be sold to Chinese... The U.S. government is steadily tightening the noose on Nvidia’s sales to China. But the AI chip...
Photo via Getty.
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Amazon Takes Aim at Cursor With New AI Coding Service

By Kevin McLaughlin · May 1, 2025 10:54am PDT · 2 comments
Artificial intelligence–assisted coding firms are some of the hottest startups in Silicon Valley right now, drawing attention from OpenAI, among others. Amazon Web Services sees an opportunity. AWS is working on its own AI-assisted coding service that offers features similar to those from startups Anysphere, which makes Cursor, and... Artificial intelligence–assisted coding firms are some of the hottest startups in Silicon...
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Crypto Venture Capital Fundraising Springs Back to Life

By Yueqi Yang · May 1, 2025 6:00am PDT
Fundraising is picking up among crypto venture funds after two dismal years, as investors hope to profit from the friendly regulatory environment under President Donald Trump. The rebound is likely to be modest because venture capital funds are no longer the only game in town for big investors who want crypto exposure. Crypto VC funds are on... Fundraising is picking up among crypto venture funds after two dismal years, as investors hope to...
Art by Clark Miller
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Sleeping in Warehouses: The Hidden Costs of Shein and Temu Deliveries

By Theo Wayt · Apr 30, 2025 6:00am PDT
In January, three police officers arrived at a warehouse in central Connecticut run by a company called UniUni, a logistics startup that handles millions of packages each week for mostly China-founded e-commerce clients like Temu, Shein and TikTok Shop. Inside, they found piles of cardboard boxes and plastic mailing bags in the brightly lit main... In January, three police officers arrived at a warehouse in central Connecticut run by a company...
Mira Murati. Photo via Getty
Thinking Machines Lab CEO Has Unusual Control in Andreessen-Led Deal
By Stephanie Palazzolo and Natasha Mascarenhas · Apr 29, 2025 1:00pm PDT · 3 comments
Mira Murati. Photo via Getty
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Thinking Machines Lab CEO Has Unusual Control in Andreessen-Led Deal

By Stephanie Palazzolo and Natasha Mascarenhas · Apr 29, 2025 1:00pm PDT · 3 comments
It’s common nowadays for founders of hot startups to hold special shares that give them more voting power than most investors. But Mira Murati, a former OpenAI chief technology officer who is now a founder and the CEO of artificial intelligence startup Thinking Machines Lab, may exert an unusual level of control even by those standards. Murati... It’s common nowadays for founders of hot startups to hold special shares that give them more...
Sridhar Ramaswamy. Photo by Getty
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Snowflake Sets $100 Million Target in AI Sales Push

By Kevin McLaughlin · Apr 29, 2025 10:46am PDT
Snowflake and other enterprise software firms whose success predates the rise of ChatGPT are trying to recast themselves as artificial intelligence companies. They’ll have to persuade corporate customers to choose their offerings in what has become a very crowded field. The pressure is particularly acute for Snowflake CEO Sridhar Ramaswamy, who... Snowflake and other enterprise software firms whose success predates the rise of ChatGPT are...
Art by Clark Miller; images via Getty.
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Andreessen Horowitz Comes to Deel’s Defense in Spy Battle

By Cory Weinberg and Michael Roddan · Apr 26, 2025 8:00am PDT · 4 comments
Venture capital firm Andreessen Horowitz has landed in the middle of a nasty Silicon Valley spy scandal between one of its most successful startups and a company run by a chief executive the VC firm pushed out nearly a decade ago from the company he founded. The VC firm is playing a central role in the fight between rival human resources... Venture capital firm Andreessen Horowitz has landed in the middle of a nasty Silicon Valley spy...
Yichao "Peak" Ji, co-founder and Chief Scientist at Manus AI. Photo via YouTube/Manus AI.
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Startup Behind Manus AI Agent Navigates U.S.-China Tensions After Benchmark Deal

By Juro Osawa · Apr 25, 2025 3:19pm PDT
Leaders of the Chinese startup behind the hit artificial intelligence agent Manus have discussed setting up new headquarters outside China, according to two people with knowledge of the discussions. The discussions signal that the startup doesn’t want its ability to do business in the U.S. to be constrained by its Chinese roots. The startup,... Leaders of the Chinese startup behind the hit artificial intelligence agent Manus have discussed...
Scale AI CEO Alexandr Wang Photo via AP.
Scale AI Missed Revenue and Profit Targets Ahead of Share Sale
By Cory Weinberg and Kalley Huang · Apr 25, 2025 6:00am PDT
Scale AI CEO Alexandr Wang Photo via AP.
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Scale AI Missed Revenue and Profit Targets Ahead of Share Sale

By Cory Weinberg and Kalley Huang · Apr 25, 2025 6:00am PDT
Scale AI, the fast-growing data-labeling startup, missed its revenue and profit targets last year, but its investors are undeterred. The company is close to finalizing about a $150 million share sale, largely to existing investors, that values it at around $25 billion, up about 80% from a year ago. Scale AI told prospective investors early last... Scale AI, the fast-growing data-labeling startup, missed its revenue and profit targets last...
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Why the Crypto Industry Is Closely Tracking the Fate of a Tiny Texas Bank

By Yueqi Yang · Apr 24, 2025 7:00am PDT
A small Texas bank that’s a crucial cog in the global crypto market lost a key leader last week, potentially complicating its closely watched efforts to emerge from regulatory purgatory. United Texas Bank is tiny by all measures except in its role as one of the few U.S. banks willing to do business with crypto-friendly overseas banks. That role... A small Texas bank that’s a crucial cog in the global crypto market lost a key leader last week,...
Art by Clark Miller
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Apple’s India Manufacturing Push Faces Spoilers, Including China

By Wayne Ma · Apr 24, 2025 6:00am PDT
For several years, Apple has been working hard to make more of its iPhones in India so it can reduce its dependence on China, where around 80% of its smartphones are currently made. The Chinese government and its tensions with India are getting in the way of that goal. Earlier this year, Chinese authorities refused to allow one of Apple’s... For several years, Apple has been working hard to make more of its iPhones in India so it can...
Art by Clark Miller
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OpenAI Forecasts Revenue Topping $125 Billion in 2029 as Agents, New Products Gain

By Sri Muppidi · Apr 23, 2025 10:16am PDT · 10 comments
For two years, ChatGPT has been OpenAI’s cash cow. But by the end of the decade, the company has told some potential and current investors it expects combined sales from agents and other new products to exceed its popular chatbot, lifting total sales to $125 billion in 2029 and $174 billion the next year, according to documents seen by The... For two years, ChatGPT has been OpenAI’s cash cow. But by the end of the decade, the company has...
AWS Faces Backlash Over Limits on Anthropic’s AI
By Kevin McLaughlin and Stephanie Palazzolo · Apr 21, 2025 6:00am PDT · 1 comment
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AWS Faces Backlash Over Limits on Anthropic’s AI

By Kevin McLaughlin and Stephanie Palazzolo · Apr 21, 2025 6:00am PDT · 1 comment
Amazon has hitched its artificial intelligence wagon to Anthropic, investing $8 billion in the startup and heavily promoting its AI to customers of the Amazon Web Services cloud unit. But AWS has fumbled Bedrock, a key service its customers use to build applications with Anthropic AI models. Customers who have used Bedrock say its application... Amazon has hitched its artificial intelligence wagon to Anthropic, investing $8 billion in the...