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Amazon headquarters in Arlington, Va. Photo by Andrew Cabellero-Reynolds/AFP via Getty Images.
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Amazon Lets Employees Swap Stock Grants for Cash

By Theo Wayt · Apr 10, 2024 1:20pm PDT · 3 comments
Amazon is giving its mid- and lower-level corporate employees a chance to decide how much they want to tie their future pay to the company’s stock performance. In May, Amazon will give many U.S. corporate employees the option of reducing the amount of stock they receive next year by a quarter in exchange for more cash, according to an... Amazon is giving its mid- and lower-level corporate employees a chance to decide how much they...
Art by Mike Sullivan.
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TikTok Owner ByteDance Misled Regulators on Payments Probe

By Michael Roddan · Apr 10, 2024 10:07am PDT
In early 2023, Irish banking regulators contacted ByteDance with a pointed question: Why was the Chinese internet giant and parent company of TikTok moving large sums of money, likely in the tens of millions of dollars, out of its HSBC bank accounts? ByteDance officials quickly sought to assuage their concerns by telling the Irish regulators it... In early 2023, Irish banking regulators contacted ByteDance with a pointed question: Why was the...
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Meta Platforms to Launch Small Versions of Llama 3 Next Week

By Sylvia Varnham O'Regan · Apr 8, 2024 3:33pm PDT
Meta Platforms is planning to launch two small versions of its forthcoming Llama 3 large-language model next week, according to a Meta employee. The models will serve as a precursor to the launch of the biggest version of Llama 3, expected this summer. Release of the two small models will likely help spark excitement for the forthcoming Llama 3,... Meta Platforms is planning to launch two small versions of its forthcoming Llama 3 large-language...
TikTok Launches New Rewards App to Boost Growth
By Kaya Yurieff · Apr 8, 2024 12:32pm PDT · 1 comment
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TikTok Launches New Rewards App to Boost Growth

By Kaya Yurieff · Apr 8, 2024 12:32pm PDT · 1 comment
TikTok’s growth in Europe has slowed down so much that it’s rolling out a new app that gives people financial incentives to watch its videos. The Chinese-owned company is introducing a new app in Spain, France and other countries that will encourage users to watch videos, invite friends to sign up and perform other actions by... TikTok’s growth in Europe has slowed down so much that it’s rolling out a new app...
Katie Haun, founder of Haun Ventures. Photo by Bloomberg via Getty Images.
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Haun Ventures Buys the Dip in Chainalysis

By Cory Weinberg · Apr 8, 2024 10:59am PDT
Haun Ventures raised $1.5 billion to invest in crypto startups just before the market collapsed and venture deals slowed dramatically. Now, as the crypto market shows signs of a recovery, Haun is getting active—quietly grabbing a stake in one of the industry’s most high-profile survivors at a steep discount to its peak valuation. The... Haun Ventures raised $1.5 billion to invest in crypto startups just before the market collapsed...
Art by Clark Miller. Demis photo via Getty
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Google’s Demis Hassabis Chafes Under New AI Push

By Jon Victor · Apr 8, 2024 6:00am PDT · 7 comments
In early March, Google’s top artificial intelligence executive, Demis Hassabis, tried to rally his team’s spirits after a bruising few weeks. Google had just released Gemini, a chatbot powered by technology from Hassabis’ group and Google’s best shot yet at showing it could catch up to OpenAI’s buzzy ChatGPT.... In early March, Google’s top artificial intelligence executive, Demis Hassabis, tried to...
From left: Josh Kushner, Sam Altman, Jony Ive and Laurene Powell Jobs. Collage: Shane Burke. Photos via Getty
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Jony Ive and Sam Altman’s AI Device Startup in Funding Talks With Emerson, Thrive

By Jessica E. Lessin, Kate Clark and Cory Weinberg · Apr 5, 2024 2:36pm PDT
A mysterious company started by former Apple designer Jony Ive and OpenAI CEO Sam Altman to launch an artificial intelligence-powered personal device has started funding talks with some of the biggest names in venture capital. The startup has discussed deals with Emerson Collective and Thrive Capital, a major investor in OpenAI, whose... A mysterious company started by former Apple designer Jony Ive and OpenAI CEO Sam Altman to...
Photo by Sjoerd van der Wal/Getty Images.
Musk’s xAI is Poaching Engineers From Tesla
By Becky Peterson · Apr 3, 2024 10:38am PDT
Photo by Sjoerd van der Wal/Getty Images.
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Musk’s xAI is Poaching Engineers From Tesla

By Becky Peterson · Apr 3, 2024 10:38am PDT
As Elon Musk builds his xAI artificial intelligence startup, he’s having to compete with big tech giants and a slew of other startups for talent. One place he’s managed to snare several promising engineers from, though, is close to home—Tesla. Last month, Tesla machine-learning scientist Ethan Knight became the third Tesla... As Elon Musk builds his xAI artificial intelligence startup, he’s having to compete with...
Tony Hoggett, Amazon's "grocery chief." Photos: Flickr/Tesco and Getty Images. Art: Shane Burke.
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Amazon’s Grocery Stores to Drop Just Walk Out Checkout Tech

By Theo Wayt · Apr 2, 2024 6:00am PDT · 1 comment
Amazon’s grab-and-go checkout system, Just Walk Out, has been a centerpiece of its ambitions to transform bricks-and-mortar supermarkets. Now Amazon is gearing up to open a new batch of grocery stores after an 18-month pause—and it’s ditching the technology. Tony Hoggett, Amazon’s senior vice president of grocery stores,... Amazon’s grab-and-go checkout system, Just Walk Out, has been a centerpiece of its...
OpenAI CEO Sam Altman, left, and Microsoft CEO Satya Nadella. Photos via Getty. Art: Shane Burke
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Microsoft and OpenAI Plot $100 Billion Stargate AI Supercomputer

By Anissa Gardizy and Amir Efrati · Mar 29, 2024 10:05am PDT · 13 comments
Executives at Microsoft and OpenAI have been drawing up plans for a data center project that would contain a supercomputer with millions of specialized server chips to power OpenAI’s artificial intelligence, according to three people who have been involved in the private conversations about the proposal. The project could cost as much... Executives at Microsoft and OpenAI have been drawing up plans for a data center project that...
Scale AI CEO, Alexandr Wang. Photo by Bloomberg via Getty.
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Scale AI Nears $13 Billion Valuation in Accel-Led Round

By Kate Clark and Cory Weinberg · Mar 28, 2024 8:13pm PDT
Venture capital firm Accel, an early investor in the data labeling startup Scale AI, is in talks to lead a new round of funding that would raise the startup’s valuation nearly 80% to about $13 billion, people with direct knowledge of the discussions said. The investment would allow Accel to maintain a large share of a valuable startup that... Venture capital firm Accel, an early investor in the data labeling startup Scale AI, is in talks...
Photo by Joe Scarnici/Getty Images for Fanatics.
Bolt’s Fanatics Partnership Goes South, Adding to Growth Woes
By Abubakar Idris and Erin Woo · Mar 28, 2024 11:34am PDT
Photo by Joe Scarnici/Getty Images for Fanatics.
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Bolt’s Fanatics Partnership Goes South, Adding to Growth Woes

By Abubakar Idris and Erin Woo · Mar 28, 2024 11:34am PDT
Bolt, the checkout startup that rocketed to an $11 billion valuation during the pandemic e-commerce boom, is embroiled in another legal battle with a high-profile retail partner: sports apparel company Fanatics, which signed a deal in 2022 to offer Bolt’s speedy payment buttons across several of its e-commerce sites. Fanatics filed a... Bolt, the checkout startup that rocketed to an $11 billion valuation during the pandemic...
Mercury co-founder and CEO Immad Akhund. Photo via Getty Images.
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Inside Mercury’s Stumble From Fintech Hero to Target of the Feds

By Michael Roddan · Mar 28, 2024 6:00am PDT
The meeting last July between officials from the Federal Deposit Insurance Corp. and executives from Choice Financial Group was tense. For most of the two-and-a-half hour session, the FDIC officials delivered the results of the agency’s recent examination of Choice, a once sleepy bank based in Fargo, N.D., for possible violations of... The meeting last July between officials from the Federal Deposit Insurance Corp. and executives...
Melanie Perkins, CEO of Canva. Photo by Getty.
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The Financials Behind Canva’s Corporate Sales Battle Plan Against Adobe

By Cory Weinberg · Mar 27, 2024 6:00am PDT · 1 comment
Software startup Canva, which has grown to a $26 billion valuation with a message that it is “democratizing design” for people without professional training, is increasingly pinning its fortunes on selling its suite of editing tools to the biggest companies in the world. The privately held Australian company told prospective... Software startup Canva, which has grown to a $26 billion valuation with a message that it is...
Apple CEO Tim Cook in Shanghai on March 21. Photo by AFP/China OUT via Getty Images.
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Apple’s Vision Pro Gets Boost From China’s Media Kingmaker

By Wayne Ma · Mar 26, 2024 6:00am PDT
When Apple launched the Vision Pro headset, it leaned heavily on its own streaming app, as well as those of Disney and others, to market the headset’s most compelling feature: an immersive video experience. Now Tencent, China’s largest social media, streaming and gaming company, has agreed to make some of its most important apps... When Apple launched the Vision Pro headset, it leaned heavily on its own streaming app, as well...
Art by Mike Sullivan
Meta Pursues AI Talent With Quick Offers, Emails From Zuckerberg
By Kalley Huang and Jon Victor · Mar 25, 2024 6:00am PDT
Art by Mike Sullivan
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Meta Pursues AI Talent With Quick Offers, Emails From Zuckerberg

By Kalley Huang and Jon Victor · Mar 25, 2024 6:00am PDT
To better compete for artificial intelligence researchers, Meta Platforms is making unconventional moves, including extending job offers to candidates without interviewing them and relaxing a longstanding practice of not increasing compensation for employees threatening to leave. In a sign of how seriously the social media company is taking the... To better compete for artificial intelligence researchers, Meta Platforms is making...
Benchmark partner Peter Fenton via Getty
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Benchmark to Lead Investment in AI Video Startup HeyGen at $440 Million Valuation

By Stephanie Palazzolo and Kate Clark · Mar 23, 2024 12:26pm PDT · 1 comment
HeyGen, a three-year-old startup that uses artificial intelligence to generate avatars and voices for videos, is raising $60 million at a pre-investment valuation of $440 million, six times higher than the startup’s valuation four months ago, according to a person with direct knowledge of the round. Benchmark, the early-stage venture... HeyGen, a three-year-old startup that uses artificial intelligence to generate avatars and voices...
Cameo CEO Steven Galanis. Photo by Getty.
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Cameo Valuation Plunges at Least 90% in ‘Cramdown’ Funding Round

By Cory Weinberg and Kaya Yurieff · Mar 22, 2024 11:47am PDT · 1 comment
Cameo authorized a $28 million round of funding last week that will drastically reduce its valuation, the company told shareholders, reflecting a big slowdown in the celebrity video shoutout app’s business. The funding, led by existing investor Valor Equity Partners, would value the company at less than $100 million, measured after the... Cameo authorized a $28 million round of funding last week that will drastically reduce its...
Rippling founder and CEO, Parker Conrad. Photo by Bloomberg via Getty Images.
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In HR Software Battle, Rippling Makes Up Ground Against Deel—At a Cost

By Abubakar Idris and Natasha Mascarenhas · Mar 22, 2024 6:00am PDT
Rippling, a human-resources software startup valued at more than $11 billion, was a relative latecomer to the business of helping companies hire staff overseas. Now its expansion into dozens of countries, including the U.K. and Ireland, is starting to pay off. The eight-year-old startup’s annual recurring revenue roughly doubled to more... Rippling, a human-resources software startup valued at more than $11 billion, was a relative...
Microsoft CEO Satya Nadella, left, and Inflection CEO Mustafa Suleyman, right. Photos by Getty.
Microsoft Agreed to Pay Inflection $650 Million While Hiring Its Staff
By Jessica E. Lessin, Natasha Mascarenhas and Aaron Holmes · Mar 21, 2024 9:38am PDT · 7 comments
Microsoft CEO Satya Nadella, left, and Inflection CEO Mustafa Suleyman, right. Photos by Getty.
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Microsoft Agreed to Pay Inflection $650 Million While Hiring Its Staff

By Jessica E. Lessin, Natasha Mascarenhas and Aaron Holmes · Mar 21, 2024 9:38am PDT · 7 comments
Microsoft doesn’t want its plan to hire two of Inflection AI’s co-founders and most of its 70-person staff to be seen as an acquisition. But it’s still writing a hefty check to the two-year-old artificial intelligence startup. The software giant has agreed to pay Inflection approximately $650 million, mostly in the form of a... Microsoft doesn’t want its plan to hire two of Inflection AI’s co-founders and most...