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

Five times/week

The Briefing

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

Get smarter about the day’s news in tech, media and finance by following Silicon Valley’s most-read executive newsletter.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

"The Lord of the Rings: The Rings of Power" Courtesy of Amazon Studios

Amazon’s Upfront Ad Haul Tops $1.8 Billion Target

By Theo Wayt and Sahil Patel · Sep 26, 2024 12:47pm PDT

Amazon’s decision to introduce ads within its Prime Video streaming service is already paying off for the company. In talks with advertisers during the just-concluded upfront ad market for the coming year, Amazon exceeded its goal of drawing $1.8 billion in ad-spending commitments for its video-streaming services, including Prime Video,... Amazon’s decision to introduce ads within its Prime Video streaming service is already...

Photo via Getty

A Flurry of Leadership Departures at OpenAI; Meta Flexes Its Advantage

By Stephanie Palazzolo and Kalley Huang · Sep 26, 2024 7:00am PDT

You know what they say: when it rains, it pours. OpenAI employees experienced that firsthand yesterday, when they received abrupt news of three major leadership departures.Chief technology officer Mira Murati, chief research officer Bob McGrew and head of post-training Barret Zoph are all leaving the ChatGPT maker, leaders told staff yesterday.... You know what they say: when it rains, it pours. OpenAI employees experienced that firsthand...

Art by Clark Miller.

Software Firms Race to Beat OpenAI in AI Agents

By Jon Victor · Sep 26, 2024 6:00am PDT · 1 comment

Even as businesses struggle to figure out how artificial intelligence chatbots can help their operations, they’re getting inundated with a new AI offering: chatbots that can independently take actions like scheduling appointments, also known as AI agents. In the last month, Salesforce, Microsoft, Workday and ServiceNow—hoping to head... Even as businesses struggle to figure out how artificial intelligence chatbots can help their...

A Byd Yuan Plus, on the road in Merida, Mexico. Photo: Jeffrey Greenberg/Universal/Getty

The Electric: Bold U.S. Moves Could Invite Chinese Retaliation Against Tesla

By Steve LeVine · Sep 26, 2024 4:30am PDT · 1 comment

A Byd Yuan Plus, on the road in Merida, Mexico. Photo: Jeffrey Greenberg/Universal/Getty

The Electric: Bold U.S. Moves Could Invite Chinese Retaliation Against Tesla

By Steve LeVine · Sep 26, 2024 4:30am PDT · 1 comment

The Biden administration’s latest salvo against Chinese electric vehicles carries a risk: potential retaliation against Tesla. The Biden administration’s latest salvo against Chinese electric vehicles carries a risk:...

Photo by Bloomberg via Getty.

Meta’s AI Edge

By Martin Peers · Sep 25, 2024 5:00pm PDT

Sam Altman may have Elon Musk beat for the ability to pull off impressive technological achievements despite near-constant corporate drama. Wednesday’s news that OpenAI Chief Technology Officer Mira Murati is leaving comes after numerous other high-profile exits in recent months (or in the case of President Greg Brockman, a leave of absence.)... Sam Altman may have Elon Musk beat for the ability to pull off impressive technological...

Creator Don Allen Stevenson III and Mark Zuckerberg at today's event. Photo by Bloomberg via Getty.

Creator Economy

Meta Re-Ups Creator Chatbots, This Time in Video

By Rocket Drew · Sep 25, 2024 3:12pm PDT

Creators played a big role at Meta’s annual developer conference last year, when Instagram unveiled a line of artificial intelligence-powered chatbots styled after celebrities. Meta scrapped that experiment earlier this year, in favor of helping influencers make their own chatbots.Meta is now expanding these chatbots beyond text messages.... Creators played a big role at Meta’s annual developer conference last year, when Instagram...

A still from a Sora-generated video. Photo via OpenAI.

OpenAI is Revamping Sora AI Video

By Stephanie Palazzolo · Sep 25, 2024 7:20am PDT

Between OpenAI’s long-awaited Strawberry launch and its monster ongoing fundraising, it might be easy to forget about Sora, a video-generating model it teased in February to global fanfare. A number of investors told me at the time that the impressive Sora demos cast a worrying shadow over the gaggle of competing AI video startups that had... Between OpenAI’s long-awaited Strawberry launch and its monster ongoing fundraising, it might be...

Michael Rubin, Founder & CEO of Fanatics photographed at offices in NYC. Photo by Getty.

Why Fanatics Is Losing Investor Fans

By Cory Weinberg · Sep 25, 2024 6:00am PDT

Michael Rubin, Founder & CEO of Fanatics photographed at offices in NYC. Photo by Getty.

Why Fanatics Is Losing Investor Fans

By Cory Weinberg · Sep 25, 2024 6:00am PDT

Sports jersey seller Fanatics was one of the few high-profile private commerce companies to dodge a valuation collapse in 2022 when interest rates began rising. But as its growth has slowed, investors have started to sour on its prospects, with four mutual funds marking down their stakes in Fanatics by an average of 14% in the first half of the... Sports jersey seller Fanatics was one of the few high-profile private commerce companies to dodge...

Photo by Bloomberg via Getty

Private Equity’s Proof of Life

By Martin Peers · Sep 24, 2024 5:00pm PDT

Private equity dealmakers are starting to get busy. The latest evidence of that was today’s news that Blackstone and Vista Equity Partners will buy Smartsheet, which sells software that helps workers plan projects, for $8.4 billion. As falling interest rates are likely at least part of the reason for the (slight) deal revival, we should see more... Private equity dealmakers are starting to get busy. The latest evidence of that was today’s news...

Fadi Ghandour. Photo by Wamda Capital.

Tech Investors Head to Mideast for Deals

By Natasha Mascarenhas · Sep 24, 2024 3:27pm PDT

Silicon Valley has never felt more intertwined with the Middle East—and I’m not just saying that because I’m writing this column as I graze on dates in the lobby of Rosewood Abu Dhabi. I spent the last week meeting investors, operators and founders in Dubai and Abu Dhabi, where evidence of U.S. venture capital was easy to find.One of those... Silicon Valley has never felt more intertwined with the Middle East—and I’m not just saying that...

Hulu's “The Secret Lives of Mormon Wives” centers on a group of eight Mormon moms who have found viral TikTok fame. Photo via YouTube/Hulu

Creator Economy

The Talent Managers Who Brought TikTok’s ‘Mormon Moms’ to Hulu

By Kaya Yurieff · Sep 24, 2024 3:01pm PDT

I’ve been binging Hulu’s new reality TV series, “The Secret Lives of Mormon Wives,” which follows the lives of eight young TikTok-famous Mormon moms who get caught up in a scandal where some of them hooked up with each other’s husbands.Even though that drama played out in real time on TikTok two years ago, the show has become a huge hit. Hulu... I’ve been binging Hulu’s new reality TV series, “The Secret Lives of Mormon Wives,” which follows...

Photo via Getty

Microsoft AI Chief Suleyman Shuffles Unit Leadership, Pointing to Shift in Strategy

By Aaron Holmes · Sep 24, 2024 7:00am PDT

Photo via Getty

Microsoft AI Chief Suleyman Shuffles Unit Leadership, Pointing to Shift in Strategy

By Aaron Holmes · Sep 24, 2024 7:00am PDT

In case you missed it, my colleagues broke news yesterday about Anthropic’s attempt to draft off OpenAI’s pending fundraising, by looking to do its own funding round. Like OpenAI, Anthropic wants to double its valuation. Whether it can do so despite weaker financials remains to be seen! On to today’s issue… It’s been a while since... In case you missed it, my colleagues broke news yesterday about Anthropic’s attempt to draft off...

Scale AI CEO Alexandr Wang. Photo by Drew Angerer/Getty.

Scale AI’s Sales Nearly Quadrupled in First Half

By Cory Weinberg · Sep 24, 2024 6:00am PDT · 1 comment

Helping artificial intelligence companies improve the accuracy of their large language models is turning into a giant business for Scale AI, which labels data for big AI developers like Meta Platforms and Google. Scale nearly quadrupled its sales to almost $400 million in the first half of the year compared with the same period last year,... Helping artificial intelligence companies improve the accuracy of their large language models is...

Partner Content

AI Summit Recap: Where to Invest in AI

By The Information Partnerships · Sep 23, 2024 6:48pm PDT · 1 comment

Over the last two years, it’s felt like investors have poured money into any startup with dot-ai in its domain name. In 2023 alone, artificial intelligence funding topped $189 billion. But with hundreds of new AI startups launching each year, it can be difficult for investors to distinguish a true unicorn from a flash in the pan. As part... Over the last two years, it’s felt like investors have poured money into any startup with...

Partner Content

AI Summit Recap: Dollars and Cents in AI and Health Tech

By The Information Partnerships · Sep 23, 2024 6:47pm PDT

There’s no doubt that artificial intelligence has already changed the business world. But there are other areas where it has been utterly transformative. One of those areas is health and medicine. As part of the Information’s recent San Francisco AI Summit, reporter Natasha Mascarenhas sat down to discuss the current state of AI in... There’s no doubt that artificial intelligence has already changed the business world. But...

AI Summit Recap: Moving Prototypes to Products

By The Information Partnerships · Sep 23, 2024 6:46pm PDT

Partner Content

AI Summit Recap: Moving Prototypes to Products

By The Information Partnerships · Sep 23, 2024 6:46pm PDT

In the age of artificial intelligence, new AI-based apps and platforms are proliferating by the day. What consumers don’t see are all the hurdles a project must overcome to become market ready. As part of The Information’s SF AI Summit, and in partnership with Amazon Web Services, reporter Anissa Gardizy explored the question of... In the age of artificial intelligence, new AI-based apps and platforms are proliferating by the...

Intel headquarters in Santa Clara, Calif. Photo by Bloomberg via Getty.

Biden’s Intel Quandary

By Martin Peers · Sep 23, 2024 5:00pm PDT

Merger activity is alive! Well, maybe. Friday’s news that Qualcomm had made a friendly takeover overture to Intel has given a shot of adrenaline to deal junkies everywhere. This would be a big deal. Despite Intel’s travails—its revenue this year is expected to be less than in 2013, according to S&P Global Market Intelligence—the company... Merger activity is alive! Well, maybe. Friday’s news that Qualcomm had made a friendly takeover...

Art by Mike Sullivan.

Polymarket Discusses Fresh Funding Amid Election Betting Craze

By Kate Clark and Yueqi Yang · Sep 23, 2024 2:05pm PDT · 1 comment

Polymarket, a blockchain-based prediction market that has taken off as a place for people to bet on the U.S. election, on Taylor Swift’s engagement prospects and on who will win the Super Bowl, is in talks to raise more than $50 million in new capital, according to people familiar with the matter. Polymarket has also discussed the... Polymarket, a blockchain-based prediction market that has taken off as a place for people to bet...

Anthropic co-founder and CEO, Dario Amodei. Photo by Julien De Rosa/AFP via Getty.

Anthropic Has Floated $40 Billion Valuation in Funding Talks

By Anissa Gardizy and Kate Clark · Sep 23, 2024 1:45pm PDT · 3 comments

Anthropic, OpenAI’s largest startup competitor, has started talking to investors about raising capital in a deal that could value the startup at $30 billion to $40 billion, roughly doubling its valuation from a funding that closed early this year, according to an existing investor who spoke to company leaders. Anthropic, which generates... Anthropic, OpenAI’s largest startup competitor, has started talking to investors about...

Doug Herrington, Amazon's CEO of Worldwide Stores, speaking at Amazon Accelerate last week. Photo via YouTube/Amazon.

Why Amazon Is Helping Merchants Sell On Rival Sites

By Theo Wayt · Sep 23, 2024 11:01am PDT · 3 comments

Doug Herrington, Amazon's CEO of Worldwide Stores, speaking at Amazon Accelerate last week. Photo via YouTube/Amazon.

Why Amazon Is Helping Merchants Sell On Rival Sites

By Theo Wayt · Sep 23, 2024 11:01am PDT · 3 comments

Last week, as Amazon’s annual gathering of online sellers was kicking off at the Seattle Convention Center, Temu staffers held an invite-only happy hour just a couple of blocks away to pitch Amazon merchants on joining the fast-growing bargain site over sliders and an open bar. That kind of wooing may seem like a serious threat for Amazon,... Last week, as Amazon’s annual gathering of online sellers was kicking off at the Seattle...