Meta Preps Free Coding Software in Challenge to OpenAI
The budding AI-coding sector could be turned upside down.
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Microsoft Plans New AI Service With Databricks, Hedging OpenAI Bet
Microsoft has found a second horse to ride in the AI race.
SpaceX Profit Hit $55 Million in First Quarter
Elon Musk’s rocket company reportedly lost $559 million in 2022.
Securitize Buys Crypto Investing Startup Onramp
Securitize offers blockchain-based private equity investments from firms including KKR.
NYC Bans TikTok from City-Owned Devices
The city’s directive cited Office of Management and Budget guidelines and federal legislation that have ordered the same.
Cisco Shares Rise on Strong Order Growth, Demand for AI Projects
Cisco Systems executives struck an optimistic tone on an earnings call, suggesting that customers are loosening the purse strings for AI projects.
GM Leads Investment in Iron-based Battery Maker
Money is part of Mitra Chem's $60 million Series B round.
Amazon to Impose Fee on Merchants Who Do Their Own Shipping
The retailer is imposing the new fee as the FTC is preparing to file a case against it.
Intel Drops Plan to Acquire Tower Semiconductor After China Objects
Intel hoped $5.4 billion deal would help it expand its foundry business.
DOJ Forced Resignation of Pinterest Directors from Nextdoor Board
The Justice Department said it has asked 15 directors to leave 11 boards so far as part of an antitrust sweep.
Coinbase Approved to Directly Offer Crypto Futures in U.S.
Coinbase already offers futures contracts to both retail and institutional users through Coinbase Derivatives Exchange.
X Throttled Access to Facebook, New York Times and Other Sites
Throttling appears to have been reversed after several hours.
Venture Capital Firms Struggle to Raise Funds in China
Chinese funds hoping to raise U.S. dollars from overseas backers face growing challenges, in part due to rising tensions between Washington and Beijing.
Google’s Rival to OpenAI, Gemini, Will Power Chatbot, Enterprise Apps
Google is about to launch a battle of "multimodal" artificial intelligence software.
Underwear Startup Parade Sells Itself
The deal adds to a wave of sales by direct-to-consumer startups, which have struggled to turn devoted online followings into profitable growth.
Lending Startups Seek Buyers as Rate Hikes Hobble Growth
Venture-backed consumer lending startups are starting to fold their cards.
Yieldstreet Nears a Deal to Buy Real Estate Tech Startup Cadre
Deal would be the latest sign of merger and acquisition activity among troubled startups as founders accept that valuations are not likely to recover.
Amazon Devices Chief to Step Down
Amazon's devices division had wide losses in recent years and was hit hard by layoffs in late 2022.
BuzzFeed Revenue Dropped 27% in Q2, Forecasts Similar Outlook for Q3
BuzzFeed, which is actively shopping Complex Networks assets for sale, also burned through $10 million in cash in the second quarter.
PayPal Appoints Intuit Executive as Next CEO
Alex Chriss oversees Intuit’s QuickBooks and Mailchimp products.
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