U.S., China Agree to Slash Tariffs for 90 Days
Chinese tech stocks rose on a major de-escalation of the trade war between Washington and Beijing.
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Klarna Backtracks on AI as a Way to Save Money
Klarna's CEO had been one of the most vocal about the cost saving potential of AI.
Google Settles Texas Lawsuit With $1.375 Billion Payment
The settlement is almost exactly the same size as one that Texas reached with Meta Platforms last July over a lawsuit relating to the use of facial recognition technology.
U.S. Treasury Reviews Benchmark’s Investment in Chinese Startup Behind Manus AI Agent
Washington’s scrutiny comes after Benchmark led a funding round that valued the Chinese startup at $500 million.
Simo to Step Down From OpenAI Board
Fidji Simo, the chief executive of Instacart, was appointed to CEO of Applications at OpenAI this week.
Rippling Valued at $16.8 billion in New Financing
The HR startup will also buy back up to $200 million in stock from current and former employees.
Trump Says 80% Tariff on China “Seems Right”
The president is hinting at a sharp reduction from the current 145% ahead of U.S. officials’ trade talks with China this weekend.
Musk Asks Court to Throw Out or Delay OpenAI’s Countersuit
Musk’s lawyers argue his bid for OpenAI was protected by the First Amendment.
Lyft’s Revenue Growth Slows
It’s also buying back $750 million in stock, meeting some demands of an activist investor.
In Apparent Reversal, OpenAI CEO Advocates Less AI Regulation
OpenAI is in a much stronger position than it was when Sam Altman asked for regulations.
Pinterest Revenue Rises 16%, Above Company’s Projections
The company forecasts revenue growth next quarter despite economic uncertainty
Paramount’s TV Revenue Drops Without the Super Bowl
Paramount's TV ad revenue fell 21% during the first quarter, which it attributed entirely to not airing the Super Bowl this year compared to last year.
Instagram Head Testifies in Meta Antitrust Case
Mosseri’s testimony comes after Instagram co-founder Kevin Systrom claimed in court last month that Meta had deprived Instagram of resources.
Coinbase to Buy Crypto Options Exchange Deribit for $2.9 Billion
Deribit is the world’s largest trading platform for bitcoin and ether options.
Gates to Intensify Philanthropy While Ending Foundation
The billionaire has already redefined modern giving and could do it again.
Shopify Forecasts Slower Revenue and Profit Growth, Shares Fall
Executives said the company hasn’t yet seen a major impact from higher U.S. tariffs.
Warner Bros. Streaming Growth Felled by Declines in TV
WBD's revenues fell 10% in the first quarter, driven by ongoing declines in TV distribution and advertising revenue. Meanwhile, its streaming segment grew 8%.
OpenAI Hires Instacart CEO For Major Leadership Role
OpenAI CEO Sam Altman will continue overseeing research and infrastructure teams that are core to AI development.
Google Cuts Staff in Global Business Organization
Over the past 18 months, Google has made a series of job cuts across the company, often at the scale of “hundreds” of job cuts.
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The Information AM by The Information Staff
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