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

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The Briefing

By Martin Peers, Jessica E. 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.

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Recent Editions

Art by Mike Sullivan.

TikTok, Instagram Plot TV Apps Following YouTube’s Success

By Kaya Yurieff and Kalley Huang · Jun 26, 2025 12:01pm PDT

Rejoice, couch potatoes. TikTok and Instagram, following YouTube’s lead, are working on ways to make it easier for viewers to watch videos from their apps on TV screens. The social media giants see an opportunity to grab some of the ad dollars flowing to the streaming TV market. Meta Platforms’ leaders have said they are planning to develop a... Rejoice, couch potatoes. TikTok and Instagram, following YouTube’s lead, are working on ways to...

Partner Content

Panel Recap: Building the Internet of Agents

By The Information Partnerships · Jun 26, 2025 10:27am PDT · 1 comment

Since ChatGPT’s 2022 debut, businesses have envisioned generative AI creating not just chatbots, but also automated tools capable of complex, multi-step tasks like managing retail returns, generating research reports, and planning travel. This spring, new open-source protocols emerged to facilitate AI agent collaboration. Google introduced the... Since ChatGPT’s 2022 debut, businesses have envisioned generative AI creating not just chatbots,...

Photo via Getty

Is OpenAI About to Spice Up the Productivity App Market?

By Aaron Holmes · Jun 26, 2025 10:00am PDT

As if OpenAI isn’t fighting enough battles, the startup is now eyeing a new front line: productivity apps currently dominated by Microsoft’s Office 365 and Google’s Workspace.As my colleagues reported this week, OpenAI has been prototyping a new tool within ChatGPT that would let multiple people collaborate on documents and communicate with each... As if OpenAI isn’t fighting enough battles, the startup is now eyeing a new front line:...

Art by Mike Sullivan

Will Chains of Thought Stay Readable for Long?

By Rocket Drew · Jun 26, 2025 7:22am PDT

Art by Mike Sullivan

Will Chains of Thought Stay Readable for Long?

By Rocket Drew · Jun 26, 2025 7:22am PDT

Chains of thought, the “reasoning” steps that many AI models take before delivering their final answer to a query, offer AI developers a precious window into their models’ decision-making. That’s why Google faced a backlash from its users earlier this month when it followed the lead of OpenAI and Anthropic by deciding to hide its models’ chains... Chains of thought, the “reasoning” steps that many AI models take before delivering their final...

A DeepSeek advertisement in a technology store in Hong Kong. Photo via Getty.

DeepSeek’s Progress Stalled by U.S. Export Controls

By Qianer Liu and Juro Osawa · Jun 26, 2025 6:00am PDT · 4 comments

The latest round of U.S. chip export controls may have curbed DeepSeek’s rise, at least for now. DeepSeek’s highly anticipated upcoming large language model, R2, may not be as quickly and extensively adopted in China as its predecessor, the wildly popular R1, due to a shortage of Nvidia server chips in the country, according to employees of... The latest round of U.S. chip export controls may have curbed DeepSeek’s rise, at least for now....

The Electric: In the Budget Brawl, Ford Reminds Trump That He Risks Job Cuts

The Electric: In the Budget Brawl, Ford Reminds Trump That He Risks Job Cuts

By Steve LeVine · Jun 26, 2025 4:30am PDT

The effort to rewrite President Donald Trump’s budget bill gained a big public backer this week, and one that holds some real power over the members of Congress who are voting on the measure. Ford publicly joined the fight to save electric vehicle and battery tax credits that would be cut or sharply reduced in the bill under consideration.... The effort to rewrite President Donald Trump’s budget bill gained a big public backer this week,...

Microsoft CEO Satya Nadella. Photo via Getty

Microsoft’s Shaky AI Leadership

By Martin Peers · Jun 25, 2025 5:00pm PDT

Microsoft is on a hot streak. Its stock has soared in recent weeks and so far this year is up 17%, more than that of any other big tech name besides gravity-defying Meta Platforms. What makes Microsoft’s performance so striking is that the stock was not cheap before the rally—based on multiples of earnings and sales—and it is even less cheap... Microsoft is on a hot streak. Its stock has soared in recent weeks and so far this year is up...

Sam Altman, left, and Satya Nadella. Photos via Getty

OpenAI and Microsoft Duel Over AGI in High-Stakes Negotiation

By Aaron Holmes, Stephanie Palazzolo and Amir Efrati · Jun 25, 2025 3:01pm PDT · 6 comments

Sam Altman, left, and Satya Nadella. Photos via Getty

OpenAI and Microsoft Duel Over AGI in High-Stakes Negotiation

By Aaron Holmes, Stephanie Palazzolo and Amir Efrati · Jun 25, 2025 3:01pm PDT · 6 comments

For the past three years, Microsoft has introduced a slew of new software tools, such as Copilot, by drawing on artificial intelligence developed by OpenAI. Under the terms of the software giant’s financial backing for OpenAI, Microsoft has access to the tech through 2030. The only risk was that OpenAI could move to cut off access if its board... For the past three years, Microsoft has introduced a slew of new software tools, such as Copilot,...

Photo by Getty.

Creator Economy

OnlyFans’ AI Skepticism Is Its Biggest Risk

By Anita Ramaswamy and Kaya Yurieff · Jun 25, 2025 2:06pm PDT

Recently, I argued that OnlyFans could sell itself for at least $30 billion, or nearly four times the price Ukrainian-American billionaire Leonid Radvinsky is reportedly considering, if only it finds an investor willing to overlook the stigma associated with porn. At the same time, though, the company faces the same threat looming over hundreds... Recently, I argued that OnlyFans could sell itself for at least $30 billion, or nearly four times...

Chart by Shane Burke

Which Coding Assistants Retain Their Customers and Which Ones Don’t

By Stephanie Palazzolo and Shane Burke · Jun 25, 2025 7:00am PDT · 4 comments

The explosion in AI coding assistants, used by developers to make apps and websites, has raised questions about whether developers will be loyal to any of them or if they’ll switch around based on which one has access to the best coding model or capabilities at the moment.But new data from research firm Indagari, based on credit card transaction... The explosion in AI coding assistants, used by developers to make apps and websites, has raised...

From left: Eric Trump, Donald Trump Jr., Mike Ho, (executive chairman of American Bitcoin) and Matt Prusak (CEO of American Bitcoin), at Bitcoin 2025 in Las Vegas. Photo via AP

Trump Family Crypto Partner Has Spotty Track Record

By Michael Roddan · Jun 25, 2025 6:00am PDT · 2 comments

Eric Trump is raising money to build what he predicts will be the world’s largest bitcoin-mining company. He’s teamed up with bitcoin miner Hut 8 to build the computing power he needs. “They can get projects done, you know, in half the time of other, you know, builders,” Trump said, announcing the partnership earlier this year. Trump’s newly... Eric Trump is raising money to build what he predicts will be the world’s largest bitcoin-mining...

Timothée Chalamet enters a movie premiere in London on a Lime Bike in January. Photo via Getty.

As Stocks Roar, IPO Hopefuls Come Out of Woodwork

By Martin Peers · Jun 24, 2025 5:00pm PDT

Timothée Chalamet enters a movie premiere in London on a Lime Bike in January. Photo via Getty.

As Stocks Roar, IPO Hopefuls Come Out of Woodwork

By Martin Peers · Jun 24, 2025 5:00pm PDT

Welcome to summer, particularly for those in cities like New York that are enduring 100-degree temperatures today. And it was hot in a different sense on Wall Street, where all those worries about tariffs seem to have faded into the background, judging by the recent stock market frenzy. The Nasdaq 100 index, for instance, rose 1.5% on Tuesday to... Welcome to summer, particularly for those in cities like New York that are enduring 100-degree...

Photo via Getty

Here Come the Software Boomerangs

By Valida Pau · Jun 24, 2025 4:37pm PDT

The market for initial public offerings has thawed a bit so far this year. But don’t forget about deals going the other way—software companies going private again, relatively soon after their IPOs. Bankers say they are talking to software companies that have struggled since their IPOs about going private again. Some of these boomerang... The market for initial public offerings has thawed a bit so far this year. But don’t forget about...

Photo via Getty

Creator Economy

YouTube Zeros in on Subscriptions

By Sahil Patel and Kaya Yurieff · Jun 24, 2025 2:27pm PDT

YouTube may already be a behemoth in advertising, but a lot of the video giant’s attention lately has been on its subscription products. In fact, earlier this year YouTube leaders were considering hiring for a new role that could be in charge of all subscription products, as I reported on Monday. (A YouTube spokesperson declined to... YouTube may already be a behemoth in advertising, but a lot of the video giant’s attention lately...

Image via Getty

Enterprises Take Model Evaluation Into Their Own Hands

By Aaron Holmes · Jun 24, 2025 10:14am PDT

Buyers of artificial intelligence often need help figuring out which AI models are best at handling a particular task.Kinesso, the tech arm of advertising giant IPG, has been evaluating ways its parent company can use large language models to generate marketing-related text. By now, Kinesso and other AI buyers have become acquainted with... Buyers of artificial intelligence often need help figuring out which AI models are best at...

OpenAI product chief Kevin Weil via Getty. Art by Clark Miller

OpenAI Quietly Designed a Rival to Google Workspace, Microsoft Office

By Amir Efrati and Natasha Mascarenhas · Jun 24, 2025 8:41am PDT

OpenAI product chief Kevin Weil via Getty. Art by Clark Miller

OpenAI Quietly Designed a Rival to Google Workspace, Microsoft Office

By Amir Efrati and Natasha Mascarenhas · Jun 24, 2025 8:41am PDT

OpenAI has been gearing up to take on Google and Microsoft with features that let people collaborate on documents and communicate via chat in ChatGPT, according to two people who have seen the designs. Launching these features would pit OpenAI more directly against Microsoft, its biggest shareholder and business partner, as well as open a... OpenAI has been gearing up to take on Google and Microsoft with features that let people...

Art by Mike Sullivan.

Wall Street’s AI Embrace Leaves Plenty of Work for Junior Bankers

By Valida Pau · Jun 24, 2025 8:00am PDT

For junior investment bankers working 100-hour weeks, artificial intelligence can take care of the grunt work—up to a point. Interviews with half a dozen junior bankers suggest many Wall Street banks have leaned into using AI to help streamline their most menial tasks, including basic research such as asking a chatbot for public... For junior investment bankers working 100-hour weeks, artificial intelligence can take care of...

Art by Mike Sullivan

A Wave of AI M&A Is Coming; The Most Hated AI Startup

By Stephanie Palazzolo and Kevin McLaughlin · Jun 24, 2025 7:00am PDT

Before we get to the column, I’d recommend you check out this story Erin, Rocket and I published on Monday about what sorts of products Thinking Machines Lab, the AI startup founded by ex-OpenAI Chief Technology Officer Mira Murati, is looking to build. It gives a sneak peek into how Murati plans to catch up with OpenAI and other AI rivals,... Before we get to the column, I’d recommend you check out this story Erin, Rocket and I published...

Photo via AP.

Polymarket Nears $200 Million Fundraising at Valuation Over $1 Billion

By Yueqi Yang · Jun 24, 2025 6:00am PDT

Polymarket, the world’s biggest prediction market, is nearing a deal to raise more than $200 million in a funding round that will value the company at over $1 billion, according to people familiar with the plan. Polymarket, founded in 2020 by CEO Shayne Coplan, rose to prominence last year by becoming the most popular platform for betting on the... Polymarket, the world’s biggest prediction market, is nearing a deal to raise more than $200...

Photo via Shutterstock

Fiserv’s Stablecoin Plans Show Intensifying Crypto Stampede

By Ken Brown · Jun 23, 2025 5:00pm PDT

Photo via Shutterstock

Fiserv’s Stablecoin Plans Show Intensifying Crypto Stampede

By Ken Brown · Jun 23, 2025 5:00pm PDT

The crypto stampede is on, and hardly a day goes by without the launch of some bitcoin scheme or stablecoin offering. On Sunday, my colleague Yueqi reported that OKX, one of the three biggest global crypto exchanges, was considering an initial public offering in the U.S. Today, Fiserv, one of the companies that manages the plumbing of the nation... The crypto stampede is on, and hardly a day goes by without the launch of some bitcoin scheme or...