The Briefing by Martin Peers, Jessica Lessin and the team at The Information

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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

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Recent Editions

President-elect Donald Trump and President of China, Xi Jinping. Photos via Getty.

Nvidia’s China Risk

By Martin Peers · Dec 9, 2024 5:00pm PST

Investors may need to rethink the valuation they’re putting on Nvidia. Shares of the artificial intelligence chipmaker fell 2.5% on Monday after Chinese regulators revealed they had opened an investigation into whether Nvidia broke anti-monopoly laws there. Details of the probe are described here. Suffice it to say this could well be one of... Investors may need to rethink the valuation they’re putting on Nvidia. Shares of the artificial...

The E. Barrett Prettyman U.S. Court House in Washington, DC. Photo by Getty.

TikTok’s Lifespan Shortens

By Martin Peers · Dec 6, 2024 3:00pm PST

TikTok’s chances of avoiding a ban are fast diminishing. The DC Appeals Court’s decision today, affirming the law passed earlier this year forcing TikTok to cut its ties with its Chinese parent ByteDance or be banned, was a compelling ruling. It’s hard to imagine that TikTok management would come away from it with any grounds for optimism.To be... TikTok’s chances of avoiding a ban are fast diminishing. The DC Appeals Court’s decision today,...

A Waymo self-driving car. Photo courtesy of Waymo.

Waymo’s Progress May Be Good for Uber, Too

By Martin Peers · Dec 5, 2024 5:00pm PST

This is going to become tedious. Shares of Uber and Lyft dropped 10% today on word that Alphabet’s Waymo, our favorite self-driving taxi service, is opening for business in Miami. Just a few weeks ago, the ride-hailing firms’ stocks rose about 10% as investors decided Tesla’s self-driving–car event the day before had been a dud—implying that it... This is going to become tedious. Shares of Uber and Lyft dropped 10% today on word that Alphabet’...

Photo via Getty.

CEO Murder Spotlights Executive Security Spending

By Martin Peers · Dec 4, 2024 5:00pm PST · 1 comment

Photo via Getty.

CEO Murder Spotlights Executive Security Spending

By Martin Peers · Dec 4, 2024 5:00pm PST · 1 comment

No one is ever likely to again question the money companies spend on executive security. Wednesday’s shocking murder of UnitedHealthcare’s CEO, Brian Thompson, as he walked to a company investor conference in midtown Manhattan was a good reminder of why companies such as Meta Platforms, Snap, Coinbase and Tesla spend millions to protect their... No one is ever likely to again question the money companies spend on executive security....

Amazon CEO Andy Jassy speaks at re:Invent today. Photo by Amazon.

Apple Scratches Amazon’s Back

By Martin Peers · Dec 3, 2024 5:00pm PST

Here’s news we didn’t expect: Apple is endorsing Amazon’s cloud service. That’s what happened on Tuesday at Amazon Web Service’s annual conference, re:Invent, when an Apple artificial intelligence executive, Benoit Dupin, took the stage to talk up AWS—and to mention that Apple is using AWS’ custom-made chips for search and testing its AI chips.... Here’s news we didn’t expect: Apple is endorsing Amazon’s cloud service. That’s what happened on...

Photo via Getty

Judge Rebuffs Musk; Intel Searches for a Savior

By Martin Peers · Dec 2, 2024 5:00pm PST

These are heady days for Elon Musk, whose friendship with Donald Trump has accentuated his already immense power in the tech industry. But there’s one quarter where Musk can’t yet get what he wants: the Delaware courts.Late Monday afternoon, the Delaware judge hearing the long-running fight over Musk’s Tesla pay package reaffirmed her January... These are heady days for Elon Musk, whose friendship with Donald Trump has accentuated his...

Teenagers in Melbourne, Australia, on their phones. Photo by Getty.

What Australia’s Social Media Kids Ban Means for Tech

By Martin Peers · Nov 29, 2024 2:00pm PST

While U.S. tech executives were tucking into their turkey on Thursday or guzzling Koia shakes, Australian lawmakers were approving a law that bans children under 16 from having a social media account. Whoa! Australia is a relatively small country whose revenue contribution to Meta Platforms, Snap or TikTok is likely minuscule. But investors have... While U.S. tech executives were tucking into their turkey on Thursday or guzzling Koia shakes,...

FTC Chair Lina Khan. Photo via Getty.

Microsoft’s Antitrust Luck Runs Out

By Martin Peers · Nov 27, 2024 3:20pm PST

FTC Chair Lina Khan. Photo via Getty.

Microsoft’s Antitrust Luck Runs Out

By Martin Peers · Nov 27, 2024 3:20pm PST

You have to hand it to Lina Khan. The Federal Trade Commission chair, appointed by outgoing President Joe Biden, is working until the bitter end (which is likely two months away). Bloomberg reported Wednesday afternoon that Khan had signed off on an antitrust investigation of Microsoft. That’s a big deal.Microsoft is the only one of the five big... You have to hand it to Lina Khan. The Federal Trade Commission chair, appointed by outgoing...

Photo via Getty

Why Apple Might Be Headed for Another Antennagate

By Martin Peers · Nov 26, 2024 5:00pm PST

It’s a bit early to be offering predictions for 2025, but here goes anyway. Chances are very good that sometime next year we’re going to hear a bunch of complaints about newly released Apple iPhones dropping calls more often than previous models did. In other words, we’re in for a repeat of the “Antennagate” brouhaha of 2010, when similar... It’s a bit early to be offering predictions for 2025, but here goes anyway. Chances are very good...

Photo via Getty

Klarna’s AI Savings

By Theo Wayt · Nov 25, 2024 5:00pm PST · 7 comments

Klarna has been louder than most other companies about using artificial intelligence to cut jobs and save money—part of a broader AI rebrand as the installment lender polishes itself up for a potential IPO. A fresh batch of financial details the company released today, alongside an AI-generated avatar of CEO Sebastian Siemiatkowski discussing... Klarna has been louder than most other companies about using artificial intelligence to cut jobs...

Former AWS CEO Adam Selipsky and Anthropic CEO Dario Amodei during AWS re:Invent 2023 last November. Photo via Getty.

Anthropic Keeps Amazon in AI Contest

By Martin Peers · Nov 22, 2024 2:47pm PST

In Thursday’s Briefing newsletter, my colleague Cory Weinberg reported that bankers at Goldman Sachs’ private tech gathering this week had asked, “For big tech, is capex the new M&A?” as part of a slide presentation on the market. We got the answer today—yes, it is—when Amazon announced it was investing $4 billion more into Anthropic, the... In Thursday’s Briefing newsletter, my colleague Cory Weinberg reported that bankers at Goldman...

Photo via Adobe

Is Capex the New M&A for Big Tech?

By Cory Weinberg · Nov 21, 2024 5:00pm PST

Photo via Adobe

Is Capex the New M&A for Big Tech?

By Cory Weinberg · Nov 21, 2024 5:00pm PST

Goldman Sachs’ annual private tech conference this week was, from one angle, a study in East Coast realism versus West Coast optimism. Spreadsheets versus innovation. Bankers’ slacks versus Palmer Luckey’s shorts. One of the most high-profile founders on stage, Perplexity’s Aravind Srinivas, cited the satirical TV show “Silicon Valley” as... Goldman Sachs’ annual private tech conference this week was, from one angle, a study in East...

Photo via Getty

Why Nvidia’s Investors Are So Hard to Please

By Martin Peers · Nov 20, 2024 5:00pm PST · 2 comments

Nvidia investors are, let’s face it, a bit like spoiled children. Here’s a company that posts a 94% increase in revenue from a year ago, which is quite a bit better than it had projected, and the stock falls! Sure, Nvidia’s growth rate has come down from the blazing-fast 260% or so of a few quarters ago, but did anyone imagine the company could... Nvidia investors are, let’s face it, a bit like spoiled children. Here’s a company that posts a ...

Photo via Adobe

Amazon’s Walmart Problem

By Theo Wayt · Nov 19, 2024 5:00pm PST · 1 comment

Walmart reported solid third-quarter numbers today, driving home what’s surely a sore point for Jeff Bezos: No matter how hard Amazon tries, it can’t conquer Walmart.The Arkansas retailer’s revenue grew 5.5% to $169.6 billion, and the company showed optimism about the holiday season by raising its full-year sales forecast. Investors are happy... Walmart reported solid third-quarter numbers today, driving home what’s surely a sore point for...

Photos via Getty

Trump’s Tech Haves and Have-Nots

By Martin Peers · Nov 18, 2024 5:00pm PST · 1 comment

In tech, the story is going to be very much about the haves and have-nots over the next four years. Some tech firms will have juice with Donald Trump and some won’t. Trump’s Sunday night announcement that Brendan Carr will lead the Federal Communications Commission is more bad news for Meta Platforms, which increasingly looks to be one of the... In tech, the story is going to be very much about the haves and have-nots over the next four...

Mike Tyson and Jake Paul face off during weigh-ins before their upcoming fight. Photo via Getty.

Netflix’s Friday Night Fights

By Nick Wingfield · Nov 15, 2024 3:30pm PST · 1 comment

Mike Tyson and Jake Paul face off during weigh-ins before their upcoming fight. Photo via Getty.

Netflix’s Friday Night Fights

By Nick Wingfield · Nov 15, 2024 3:30pm PST · 1 comment

Any Friday night plans? A decent number of you will probably tune into tonight’s boxing match on Netflix between Mike Tyson and Jake Paul because you’re curious whether the great heavyweight of the 1980s can, at the age of 58, beat the 27-year-old influencer turned pugilist. Another group of you may watch more because you’re curious how Netflix... Any Friday night plans? A decent number of you will probably tune into tonight’s boxing match on...

Disney CEO Bob Iger. Photo via Getty.

Disney’s Streaming Profit Hopes Rest on More Price Increases

By Martin Peers · Nov 14, 2024 5:00pm PST

We got some good news from the poor old entertainment companies this earnings season. Video streaming is finally becoming a money-making business! Disney, for instance, reported today that its Disney+, Hulu and ESPN+ streaming operations made a profit of $321 million in the September quarter, quite the turnaround from losing a slightly bigger... We got some good news from the poor old entertainment companies this earnings season. Video...

Matt Gaetz. Photo via Getty.

What Matt Gaetz’s Attorney General Nomination Means for Tech

By Martin Peers · Nov 13, 2024 5:00pm PST · 2 comments

All those techies and bankers hoping the new Trump administration will relax Joe Biden’s tough antitrust approach might want to think again. Donald Trump on Wednesday said he would nominate Florida Rep. Matt Gaetz as attorney general, putting forward someone who has appeared supportive of Federal Trade Commission Chair Lina Khan and has called... All those techies and bankers hoping the new Trump administration will relax Joe Biden’s tough...

Wonder CEO Marc Lore. Photo via Getty

What a Wonder-Grubhub Deal Would Mean

By Martin Peers · Nov 12, 2024 5:00pm PST · 1 comment

Wonderful news! Deals are happening. Exhibit A: Marc Lore’s food startup Wonder is close to a deal to buy Grubhub, The Wall Street Journal reported Tuesday afternoon. That’s an intriguing acquisition for Lore, a veteran e-commerce entrepreneur, as it’s something of a change in direction.Those with long memories of Wonder will recall that the... Wonderful news! Deals are happening. Exhibit A: Marc Lore’s food startup Wonder is close to a...

Elon Musk. Photo via Getty

Wall Street Finally Forgives Musk for Twitter

By Martin Peers · Nov 11, 2024 5:00pm PST

Elon Musk. Photo via Getty

Wall Street Finally Forgives Musk for Twitter

By Martin Peers · Nov 11, 2024 5:00pm PST

This is telling: Tesla’s closing price today of $350 was the first time it has closed at that level since the first week of April 2022, when Elon Musk first revealed he was building a position in Twitter (now X). A two-and-a-half-year slump in Tesla’s stock price is over; it was sparked by his excursion into making over the social media app in... This is telling: Tesla’s closing price today of $350 was the first time it has closed at that...