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OpenAI CEO Sam Altman and Microsoft CEO Satya Nadella. Photos via Getty

How Microsoft is Trying to Lessen Its Addiction to OpenAI as AI Costs Soar

By Aaron Holmes · Sep 26, 2023 7:30am PDT · 3 comments

Microsoft’s push to put artificial intelligence into its software has hinged almost entirely on OpenAI, the startup Microsoft funded in exchange for the right to use its cutting-edge technology. But as the costs of running advanced AI models rise, Microsoft researchers and product teams are working on a plan B. In recent weeks, Peter Lee,... Microsoft’s push to put artificial intelligence into its software has hinged almost...

From left to right: Blair Effron, Robert Pruzan and David Handler. Photos by Getty; Tidal Partners.

Disputes, Employee Misconduct Rattle Centerview’s Silicon Valley Dreams

By Michael Roddan · Sep 26, 2023 6:00am PDT · 2 comments

The San Francisco Bay Area–based bankers at Centerview Partners, the investment bank that advised Silicon Valley Bank’s owner and Credit Suisse through recent turmoil, got two doses of bad news last week. First, they learned officially what many already suspected: The firm had fired a male banker in its San Francisco office after he... The San Francisco Bay Area–based bankers at Centerview Partners, the investment bank that...

Art by Clark Miller

MasterClass Takes a Crash Course in Frugality

By Paris Martineau · Sep 25, 2023 6:00am PDT · 10 comments

MasterClass had a problem with the shoot featuring its latest star instructor, Walt Disney Co. CEO Bob Iger. The startup was emerging as a poster child of the new media landscape, one that was bringing Hollywood-style production values and A-list celebrities to a category—online education—often associated with dry lectures and crummy... MasterClass had a problem with the shoot featuring its latest star instructor, Walt Disney Co....

Art by Clark Miller

SpaceX’s Starship Setback Could Hold Up Cellphone Ambitions

By Becky Peterson · Sep 22, 2023 6:28am PDT

Art by Clark Miller

SpaceX’s Starship Setback Could Hold Up Cellphone Ambitions

By Becky Peterson · Sep 22, 2023 6:28am PDT

When SpaceX’s new Starship rocket exploded during a test flight in April, the company largely painted it as a success to have even gotten the 400-foot-tall behemoth off the ground. But inside the company, some employees were worried that the setback could delay, among other things, a SpaceX plan to provide wireless coverage to cellphones... When SpaceX’s new Starship rocket exploded during a test flight in April, the company...

Photo via Getty

TikTok Plans Seattle Beachhead for Shopping Expansion

By Erin Woo · Sep 21, 2023 6:00am PDT · 2 comments

As TikTok seeks to compete with Amazon, it’s planting a flag in the e-commerce giant’s backyard. The video app company is using the Seattle area as the base for an aggressive expansion into online shopping, the company confirmed. TikTok is offering existing employees in other TikTok offices, such as Los Angeles and New York... As TikTok seeks to compete with Amazon, it’s planting a flag in the e-commerce...

From left, a Google TPU, Broadcom CEO Hock Tan and Google Cloud chief Thomas Kurian. Photos via Getty, Google and YouTube.

To Reduce AI Costs, Google Wants to Ditch Broadcom as Its TPU Server Chip Supplier

By Wayne Ma, Anissa Gardizy and Jon Victor · Sep 21, 2023 1:22am PDT · 1 comment

Google executives have extensively discussed dropping Broadcom as a supplier of artificial intelligence chips as early as 2027, according to a person with direct knowledge of the effort. In that scenario, Google would fully design the chips, known as tensor processing units, in-house, the person said. The move could help Google save billions of... Google executives have extensively discussed dropping Broadcom as a supplier of artificial...

Art by Mike Sullivan

Instagram Power Users Are Fuming Over Its $12-a-Month Subscription

By Kaya Yurieff · Sep 19, 2023 6:00am PDT · 4 comments

In late August, Jenny French discovered Instagram had disabled her account. That was a blow, since nearly half the prospects for her U.K. business, which trains physical therapists, jewelry boutiques and other clients on how to increase their Instagram reach, came from the account. But French figured she had an in with Instagram that would allow... In late August, Jenny French discovered Instagram had disabled her account. That was a blow,...

An Albertsons grocery store in L.A. Photo by Getty.

Instacart’s Secret Deals With Grocery Giants

By Cory Weinberg · Sep 18, 2023 7:00am PDT · 8 comments

An Albertsons grocery store in L.A. Photo by Getty.

Instacart’s Secret Deals With Grocery Giants

By Cory Weinberg · Sep 18, 2023 7:00am PDT · 8 comments

When Instacart goes public on Tuesday, at least one shareholder likely to make money is its own customer: grocery giant Albertsons, one of several retailers that quietly struck stock deals with Instacart years ago that remained a closely held secret inside the delivery company, people familiar with the matter said. The grocery company’s... When Instacart goes public on Tuesday, at least one shareholder likely to make money is its own...

Tim Cook introduces Apple Card during a launch event at Apple headquarters on March 25, 2019. Photo via Getty.

Goldman Sachs Makes Adjustments to Fix Apple Savings Account Problems

By Lauren Tara LaCapra · Sep 15, 2023 2:19pm PDT

Goldman Sachs has made changes to how it handles Apple Savings transactions in an effort to resolve problems some customers had experienced when making withdrawals, according to people familiar with the matter. Some Apple Card customers who flocked to new Apple Savings accounts after they launched in April found it difficult or impossible to... Goldman Sachs has made changes to how it handles Apple Savings transactions in an effort to...

The California Public Employees' Retirement System (CalPER) office in Sacramento, Calif. Photo by Getty.

Thrive to Raise $300 Million From CalPERS Amid Dry Spell for VCs

By Kate Clark · Sep 15, 2023 11:50am PDT

Thrive Capital is raising $300 million from California Public Employees' Retirement System, adding a marquee investor at a time when venture investors are finding it harder to raise money, according to a person with direct knowledge of the matter. The addition of CalPERS, which manages $463 billion, marks the pension plan’s first... Thrive Capital is raising $300 million from California Public Employees' Retirement System,...

Photo by Getty

Google Nears Release of Gemini AI to Challenge OpenAI

By Jon Victor · Sep 14, 2023 4:52pm PDT · 2 comments

Google has given a small group of companies access to an early version of its highly anticipated conversational artificial intelligence software, according to three people with direct knowledge of the matter. Giving outside developers access to the software, known as Gemini, means Google is getting close to incorporating it in its consumer... Google has given a small group of companies access to an early version of its highly anticipated...

Flexport founder, Ryan Petersen. Photo by Bloomberg via Getty.

Flexport’s Revenue Dropped 70% in First Half of 2023

By Maria Heeter, Aaron Holmes, Ann Gehan and Theo Wayt · Sep 14, 2023 12:40pm PDT · 10 comments

Flexport founder, Ryan Petersen. Photo by Bloomberg via Getty.

Flexport’s Revenue Dropped 70% in First Half of 2023

By Maria Heeter, Aaron Holmes, Ann Gehan and Theo Wayt · Sep 14, 2023 12:40pm PDT · 10 comments

Flexport’s revenue fell nearly 70% in the first half of the year to $700 million and the company burned through cash, people familiar with the company’s financials said. The decline shows how the SoftBank- and Andreessen Horowitz-backed logistics startup’s performance has been deteriorating rapidly amid a broader freight market... Flexport’s revenue fell nearly 70% in the first half of the year to $700 million and the...

Paradigm co-founders Fred Ehrsam (left) and Matt Huang (right). Photos via Flickr and AP

The Paradigm Shift in Crypto That Wasn’t

By Aidan Ryan · Sep 14, 2023 6:00am PDT · 4 comments

Earlier this year, as some of the less die-hard crypto investors and entrepreneurs began distancing themselves from that turbulent sector, Paradigm—one of the largest venture firms specializing in crypto—also seemed to wobble. In May, Paradigm scrubbed any mention of crypto from the homepage of its website and Twitter bio, changing... Earlier this year, as some of the less die-hard crypto investors and entrepreneurs began...

Why the Two Biggest Winners in Instacart’s IPO Clashed

By Cory Weinberg · Sep 13, 2023 5:57pm PDT · 5 comments

By far, the two biggest winners of Instacart’s long-awaited initial public offering next week will be the grocery company’s largest individual shareholder, co-founder and former CEO Apoorva Mehta, and its largest venture backer, Sequoia Capital. Mehta’s profit from the listing stands to be more than $780 million, while Sequoia... By far, the two biggest winners of Instacart’s long-awaited initial public offering next...

Deel CEO and co-founder Alex Bouaziz. Photo by Getty.

Deel Changes Terms of Service, Cuts Off High-Risk Trading Sites

By Natasha Mascarenhas · Sep 12, 2023 7:13pm PDT

Human resources startup Deel revamped its terms of service, banning several additional types of transactions and effectively ending support for some retail trading websites whose activities have lately drawn the scrutiny of securities regulators. The four-year-old startup, best known for services that help companies hire remote workers, had... Human resources startup Deel revamped its terms of service, banning several additional types of...

Art by Clark Miller.

Can Yahoo Be Saved? How Apollo Is Rebuilding an Internet Icon

By Rachel Graf · Sep 12, 2023 6:00am PDT · 9 comments

Art by Clark Miller.

Can Yahoo Be Saved? How Apollo Is Rebuilding an Internet Icon

By Rachel Graf · Sep 12, 2023 6:00am PDT · 9 comments

When speaking about the company he inherited in September 2021, Jim Lanzone is remarkably blunt. “I always knew these products had seen better days,” said Lanzone, the CEO of Yahoo, over a video call in late August. “Even though they still have large audiences, they needed to be modernized—pretty much every single one of... When speaking about the company he inherited in September 2021, Jim Lanzone is remarkably blunt....

Photo by Getty.

Deel Halts Services to Several Prop Trading Firms Pending Compliance Review

By Natasha Mascarenhas and Jessica E. Lessin · Sep 11, 2023 6:19pm PDT

Deel, the human resources startup embroiled in a government crackdown on online trading sites, has paused providing payout services to several businesses in the category, as it conducts a review of their operations. An executive at MyFundedFX who identified himself as the firm’s chief operating officer said on Discord that for the next 24... Deel, the human resources startup embroiled in a government crackdown on online trading sites,...

Databricks CEO Ali Ghodsi. Photo via YouTube/Databricks.

Inside Databricks’ Contrarian Playbook: Burn $1.5 Billion to Buy Big Growth

By Cory Weinberg · Sep 11, 2023 3:54pm PDT · 5 comments

Much of the startup world has gotten a clear message from investors: Stop bleeding cash. Databricks, one of the software startups trying to benefit most from rabid corporate interest in artificial intelligence, is taking a different tack—and getting rewarded for it. Databricks, on the verge of raising a new round of funding at a $43... Much of the startup world has gotten a clear message from investors: Stop bleeding cash....

Nvidia CEO Jensen Huang. Photo by Bloomberg via Getty

Nvidia Muscles Into Cloud Services, Rankling AWS

By Anissa Gardizy and Aaron Holmes · Sep 11, 2023 1:17pm PDT · 6 comments

Last year, Nvidia made an unusual proposal to Amazon Web Services and other cloud providers that have long been the biggest buyers of Nvidia’s specialized artificial intelligence server chips. Nvidia wanted to lease Nvidia-powered servers in the cloud providers’ data centers so it could turn around and rent the same servers to AI... Last year, Nvidia made an unusual proposal to Amazon Web Services and other cloud providers that...

Apple CEO Tim Cook at the site of the TSMC plant in Phoenix in December. Photo by AP.

The Flaw in Apple’s Plan to Make Chips in Arizona

By Wayne Ma · Sep 11, 2023 6:00am PDT · 18 comments

Apple CEO Tim Cook at the site of the TSMC plant in Phoenix in December. Photo by AP.

The Flaw in Apple’s Plan to Make Chips in Arizona

By Wayne Ma · Sep 11, 2023 6:00am PDT · 18 comments

In December last year, Apple CEO Tim Cook traveled to Phoenix, stood with President Joe Biden in front of a high-profile factory Taiwan Semiconductor Manufacturing Co. was constructing and said the facility would produce chips for the iPhone maker. The comments seemed to commit Apple to aid Biden’s goal of lessening reliance on foreign... In December last year, Apple CEO Tim Cook traveled to Phoenix, stood with President Joe Biden in...