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

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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Don’t Raise Tariffs, The Information’s Readers Say

By Scott Thurm · Dec 12, 2024 8:00am PST

Readers of The Information overwhelmingly oppose President-elect Donald Trump’s plans to increase tariffs and believe they will hurt the technology industry, according to our most recent survey. Survey respondents also turned pessimistic about the outlook for tech, despite a rising stock market since Trump won reelection last month. For... Readers of The Information overwhelmingly oppose President-elect Donald Trump’s plans to...

Photo by Getty

Developers Are Cautiously Optimistic About Google AI

By Stephanie Palazzolo · Dec 12, 2024 7:00am PST · 1 comment

A year after Google first gave developers a look at its Gemini AI—the search giant’s answer to OpenAI’s popular GPT models—the company has now revealed the second generation of its conversational AI models, Gemini 2.0.Google announced on Wednesday a new, experimental version of Flash, its smaller and cheaper AI, as well as new AI assistants and... A year after Google first gave developers a look at its Gemini AI—the search giant’s answer to ...

From left, OpenAI's Sam Altman and Greg Brockman, Anthropic's Dario and Daniela Amodei. Photos via Getty.

How Anthropic Got Inside OpenAI’s Head

By Stephanie Palazzolo, Erin Woo and Amir Efrati · Dec 12, 2024 6:00am PST · 6 comments

OpenAI has a lot of rivals nipping at its heels. None of them has given the company’s executives the jitters quite like Anthropic has, though. Earlier this fall, OpenAI leaders got a shock when they saw the performance of Anthropic’s artificial intelligence model for automating computer programming tasks, which had gained an edge on... OpenAI has a lot of rivals nipping at its heels. None of them has given the company’s...

Photo by Gary Hershorn via Getty

The Electric: Low-Cost Batteries Have Made Some EVs as Cheap as Gas Cars

By Steve LeVine · Dec 12, 2024 4:30am PST

Photo by Gary Hershorn via Getty

The Electric: Low-Cost Batteries Have Made Some EVs as Cheap as Gas Cars

By Steve LeVine · Dec 12, 2024 4:30am PST

The price of lithium-ion batteries fell below a long-sought threshold this year—but prices need to fall still further to make most electric vehicles competitive with similar gas-powered cars, according to BloombergNEF, a renewable energy research firm.BNEF said in its annual price survey that the average global price for EV battery packs fell... The price of lithium-ion batteries fell below a long-sought threshold this year—but prices need...

Databricks office in San Francisco. Photo by Getty

Kleiner Perkins, Founders Fund, SoftBank to Invest in Databricks’ $7 Billion Fundraising

By Natasha Mascarenhas and Cory Weinberg · Dec 11, 2024 5:54pm PST · 1 comment

Silicon Valley investors often pride themselves on writing one of the first few checks in a startup, then doubling down if a winner takes off. But Databricks, an 11-year-old seller of databases and analytics software that’s raising billions of dollars, has prompted some elite investment firms to place a few very late bets as well. Kleiner... Silicon Valley investors often pride themselves on writing one of the first few checks in a...

Stock traders. Photo via Getty

Wall Street Loves Tech Again

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

Where have all the bears gone? (They can’t all be at Lake Tahoe!) The Nasdaq Composite Index passed 20,000 on Wednesday, up 1.8% on the day but 36% from where it started the year. As a benchmark, its November 2021 high—before the 2022 selloff—was 16,057. Among the individual standout stocks today was Tesla, which rose 6% to a new all-time high... Where have all the bears gone? (They can’t all be at Lake Tahoe!) The Nasdaq Composite Index...

Spotter CEO Aaron DeBevoise. Photo via Spotter

Creator Economy

Spotter, a Startup that Funds YouTubers, Lays Off Staff Following Amazon Deal

By Kaya Yurieff · Dec 11, 2024 2:04pm PST

Creator startups are still trying to figure out how to grow their businesses—and that process sometimes results in layoffs as they revamp their strategies. One of the latest is Spotter, a five-year old startup that’s best known for offering upfront financing to YouTubers. It cut staff in early November across different parts of the Los... Creator startups are still trying to figure out how to grow their businesses—and that process...

Art by Clark Miller

Special Funds Offer Shares of SpaceX and OpenAI—for a Price

By Sri Muppidi · Dec 11, 2024 9:30am PST · 1 comment

Art by Clark Miller

Special Funds Offer Shares of SpaceX and OpenAI—for a Price

By Sri Muppidi · Dec 11, 2024 9:30am PST · 1 comment

In the fall, a Miami-based firm called Sand Hill Road Technologies Fund offered its customers a hot opportunity: a chance to invest in SpaceX, which was arranging a deal for employees to sell some of their shares. But Sand Hill’s prospective investors, wealthy individuals whom the fund reached through online ads on Google and Meta Platforms... In the fall, a Miami-based firm called Sand Hill Road Technologies Fund offered its customers a...

Art by Mike Sullivan.

Stablecoin Startups Seek Fresh Cash Amid Crypto Payments Frenzy

By Yueqi Yang and Natasha Mascarenhas · Dec 11, 2024 8:45am PST · 4 comments

Stablecoins are suddenly all the rage, as crypto investors and founders tout how the tokens can transform sending money internationally. At least three startups that focus on international payments are seeking fresh funding, according to people familiar with the companies, emboldened in part by Stripe’s recent deal to acquire stablecoin... Stablecoins are suddenly all the rage, as crypto investors and founders tout how the tokens can...

Kate Rouch. Photo via Coinbase.

AI Firms Hunt For CMOs

By Akash Pasricha · Dec 11, 2024 7:32am PST

Before we get to our main item of the day, a note to readers to tune in here tomorrow for reactions to Google’s Gemini 2.0 large language model, which was announced this morning.Now onto our main item…Artificial intelligence developers are realizing they need help standing out in an increasingly crowded market.OpenAI last week hired Kate Rouch... Before we get to our main item of the day, a note to readers to tune in here tomorrow for...

Art by Mike Sullivan

Apple Is Working on AI Chip With Broadcom

By Wayne Ma and Qianer Liu · Dec 11, 2024 6:00am PST

Apple is developing its first server chip specially designed for artificial intelligence, according to three people with direct knowledge of the project, as the iPhone maker prepares to deal with the intense computing demands of its new AI features. Apple is working with Broadcom on the chip’s networking technology, which is crucial for AI... Apple is developing its first server chip specially designed for artificial intelligence,...

A Cruise robotaxi in San Francisco last year. Photo via Getty.

GM’s Cruise Hits a Dead End

By Martin Peers · Dec 10, 2024 5:00pm PST

A Cruise robotaxi in San Francisco last year. Photo via Getty.

GM’s Cruise Hits a Dead End

By Martin Peers · Dec 10, 2024 5:00pm PST

And then there were three. General Motors’ decision to abandon its Cruise self-driving–car unit’s efforts in the robotaxi market on Tuesday is good news for Alphabet’s Waymo, already the market leader, and helpful for Tesla, which has ambitions in the market. (Let’s not forget Amazon, which is testing its Zoox robotaxis in San Francisco as... And then there were three. General Motors’ decision to abandon its Cruise self-driving–car unit’s...

Art by Clark Miller

Google Asks FTC to Kill Microsoft’s Exclusive Cloud Deal with OpenAI

By Aaron Holmes · Dec 10, 2024 3:41pm PST · 2 comments

Google recently asked the U.S. government to break up Microsoft’s exclusive agreement to host OpenAI’s technology on its cloud servers, according to a person who has been directly involved in the effort. The conversation took place after the Federal Trade Commission, one of the primary federal antitrust enforcement agencies, asked... Google recently asked the U.S. government to break up Microsoft’s exclusive agreement to...

Photo via Getty

CoreWeave’s IPO Prep Kicks Into Gear; Is SpaceX’s Valuation Rational?

By Cory Weinberg · Dec 10, 2024 3:21pm PST

The big venture-backed initial public offering this week is a bit like meat and potatoes—it’s filling but not all that exciting. ServiceTitan, the Bessemer and Battery Ventures-backed software seller to electricians and plumbers, is expected to price its IPO Wednesday and begin trading on Nasdaq on Thursday with a market capitalization somewhere... The big venture-backed initial public offering this week is a bit like meat and potatoes—it’s...

Project Liberty founder Frank McCourt. Photo via Getty.

Creator Economy

The Billionaire Who Wants to Buy TikTok

By Kaya Yurieff · Dec 10, 2024 2:00pm PST

Earlier this year, billionaire Frank McCourt hosted a dinner in Malibu, Calif. with more than a dozen TikTok creators to tell them about his proposal to buy the short-form video app. The aim of the dinner was to feel out with creators whether the bid was “on the right track,” McCourt said in an interview. Earlier this year, billionaire Frank McCourt hosted a dinner in Malibu, Calif. with more than a...

Photo via Getty

The Software Firms OpenAI Works With; o1’s Deception

By Stephanie Palazzolo · Dec 10, 2024 7:00am PST

Photo via Getty

The Software Firms OpenAI Works With; o1’s Deception

By Stephanie Palazzolo · Dec 10, 2024 7:00am PST

OpenAI on Monday gave us a deeper look into the software suppliers it works with, specifically those that touch customer data at some point. The list, which includes everyone from Microsoft to Cloudflare to a few smaller and less well known firms, reveals a lot about the enterprise tech stack of one of the most sophisticated and well-funded... OpenAI on Monday gave us a deeper look into the software suppliers it works with, specifically...

Art by Mike Sullivan

Breaking Up Google Could Make Rival Browsers’ Life Worse

By Catherine Perloff · Dec 10, 2024 6:00am PST · 2 comments

To many in tech, Google is the big, bad tech giant that monopolizes search and dominates the web browser market. To others, though, particularly in the independent browser world, Google is like a generous parent—and those browsers don’t want the antitrust verdict against it to change things. Many browsers rely on Google, either for... To many in tech, Google is the big, bad tech giant that monopolizes search and dominates the web...

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...

Image by Midjourney

OpenAI’s Sora Could Be Here This Week

By Stephanie Palazzolo · Dec 9, 2024 7:20am PST

Big news! I’m hearing that an updated version of OpenAI’s video generation model, Sora, is coming this week. This is likely the culmination of the work the company has been doing to train a new version of the model that can quickly generate clips that are higher in quality and longer than the ones it demonstrated earlier this year, as we ... Big news! I’m hearing that an updated version of OpenAI’s video generation model, Sora, is coming...

Art by Mike Sullivan

Microsoft’s New Sales Pitch for AI: Spend Less Money on Humans

By Aaron Holmes · Dec 9, 2024 7:00am PST · 3 comments

Art by Mike Sullivan

Microsoft’s New Sales Pitch for AI: Spend Less Money on Humans

By Aaron Holmes · Dec 9, 2024 7:00am PST · 3 comments

Microsoft has a new pitch to persuade businesses to spend money on artificial intelligence–powered services: If you use them, you won’t need as many employees. The potential of AI to replace human workers is an old idea, but one most companies have avoided bringing up explicitly, for fear of suffering reputational harm and political... Microsoft has a new pitch to persuade businesses to spend money on artificial...