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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Recent Editions

Microsoft CEO Satya Nadella at today's event. Photo by Bloomberg via Getty Images.

In Praise of Microsoft’s ‘Prosaic’ AI Features

By Nick Wingfield · May 20, 2024 5:00pm PDT · 1 comment

It was Microsoft’s turn today to talk about all of the ways it plans to make your life better with artificial intelligence. The various new features and products it announced felt a little—dare we say it?—bland. But that might be more than okay. In one case, it showed a new version of its Copilot assistant for Windows PCs that can observe... It was Microsoft’s turn today to talk about all of the ways it plans to make your life better...

Anduril founder Palmer Luckey in December 2023.

Anduril Seeks $12.5 Billion Valuation After Doubling Revenue

By Cory Weinberg · May 20, 2024 3:08pm PDT

Military defense startup Anduril has had early discussions to raise what would be one of the largest venture capital rounds of the year so far, seeking about $1.5 billion of fresh funds that would value the company at $12.5 billion or more, two people who have spoken to the company said. The potential funding round would be an increase from... Military defense startup Anduril has had early discussions to raise what would be one of...

OpenAI's Sam Altman and recently departed Jan Leike and Ilya Sutskever. Photos via Getty and YouTube/Towards Data Science.

What Altman Will Do to Make OpenAI Live Up to Its Name Again; Why You Should Care About Stability’s Implosion

By Stephanie Palazzolo · May 20, 2024 7:36am PDT

In classic OpenAI fashion, big drama dropped on Friday. Jan Leike, who formerly co-led OpenAI’s superalignment team with Ilya Sutskever—the co-founder and chief scientist who temporarily ousted CEO Sam Altman in November—explained on X why he left the company. Altman & Co. failed to give superalignment, which aimed to be a check on OpenAI... In classic OpenAI fashion, big drama dropped on Friday. Jan Leike, who formerly co-led OpenAI’s...

Screenshot of Moonshot's AI chatbot, Kimi

Tencent, Alibaba Place Bets on Startups Racing to Become China’s OpenAI

By Juro Osawa and Qianer Liu · May 20, 2024 6:00am PDT · 1 comment

Screenshot of Moonshot's AI chatbot, Kimi

Tencent, Alibaba Place Bets on Startups Racing to Become China’s OpenAI

By Juro Osawa and Qianer Liu · May 20, 2024 6:00am PDT · 1 comment

In China, dozens of startups have been competing to develop conversational artificial intelligence for the Chinese market. Now some are starting to pull ahead, in part due to backing from tech giants with large cloud operations like Tencent and Alibaba. Among them is Moonshot AI, developer of a chatbot that can process millions of Chinese... In China, dozens of startups have been competing to develop conversational artificial...

A Chinese worker stores electric vehicle batteries. Photo: Getty

The Electric: How the China Playbook Has Changed the Rules in EVs and Batteries

By Steve LeVine · May 20, 2024 4:30am PDT

In January, China’s Contemporary Amperex Technology Ltd., the world’s largest battery manufacturer, slashed the price of its iron-based battery cells 40% below the global industry average. Western battery industry veterans told me at the time that the price had to be a one-off promotion for CATL’s best customers. It was not possible to make... In January, China’s Contemporary Amperex Technology Ltd., the world’s largest battery...

Wait, When Did Mark Zuckerberg Get Cool?

Wait, When Did Mark Zuckerberg Get Cool?

By Abram Brown · May 18, 2024 7:00am PDT · 2 comments

Welcome, Weekenders! In this newsletter:A cautionary tale of startup ego and herd mentalityWhere to stay, network and dine in CannesPlus: The dangers around astro-ambitions; an intriguing underworld all over again; and a Hollywood resurrection that actually went well. Remember a few years ago when Mark Zuckerberg existed in the public... Welcome, Weekenders! In this newsletter:A cautionary tale of startup ego and herd mentalityWhere...

Art by Clark Miller

Where the Techies Will Hang Out at Cannes

By Tristan Rutherford · May 18, 2024 5:00am PDT · 1 comment

France’s most famous meet-and-greet resort has downed a triple espresso martini. Over the past 12 months, Cannes has been upgraded with enough new clubs, bars and hotels to satiate all the celebrities, movie moguls, global creatives and CEOs jetting in for the Cannes film festival happening right now, followed by the Cannes Lions... France’s most famous meet-and-greet resort has downed a triple espresso martini. Over the...

Attendees play Call of Duty at a convention in Turin, Italy, in April. Photo by Stefano Guidi/Getty Images

Microsoft’s Big Games Gamble

By Nick Wingfield · May 17, 2024 5:00pm PDT

Attendees play Call of Duty at a convention in Turin, Italy, in April. Photo by Stefano Guidi/Getty Images

Microsoft’s Big Games Gamble

By Nick Wingfield · May 17, 2024 5:00pm PDT

It’s Friday so it seems fitting to take a break from cloud computing, artificial intelligence, balance sheets and the other themes we usually cover here to talk briefly about a more recreational topic: video games. Earlier this week, Take-Two Interactive Software dropped some big news when it said Grand Theft Auto VI will come out in the fall of... It’s Friday so it seems fitting to take a break from cloud computing, artificial intelligence,...

Algorithm-Proof Media and New Twists in the AI War

By Jessica E. Lessin · May 17, 2024 11:53am PDT

There is a debate brewing on the More or Less pod: "Do we have to talk about AI again?" Of course, you can't escape AI these days, and we won't avoid it. But we also feel the fatigue. Perhaps that is why, on cue, Sam (almost) declared himself an AI bull! Have a great weekend, and I hope you enjoy this episode. Apple ... There is a debate brewing on the More or Less pod: "Do we have to talk about AI...

Art by Clark Miller

Partner Content

AI in an Enterprise: How to Advance to the Next Level

By The Information Partnerships · May 17, 2024 11:26am PDT · 1 comment

Tactical use cases. Need for change management. Searching for business outcomes. Multiple fundamental challenges. These are the results of the survey of 160 executives conducted by The Information about how enterprises are implementing artificial intelligence, and they paint a picture of typical early days for the adoption of new technology. A... Tactical use cases. Need for change management. Searching for business outcomes. Multiple...

An iPhone 15 on display. Photo by Matt Cardy/Getty Images.

Apple Plans a Thinner iPhone in 2025

By Wayne Ma and Qianer Liu · May 17, 2024 9:17am PDT · 1 comment

Apple is developing a significantly thinner version of the iPhone that could be released as early as 2025, according to three people with direct knowledge of the project. The slimmer iPhone could be released concurrently with the iPhone 17, expected in September 2025, according to the three people with direct knowledge and two others familiar... Apple is developing a significantly thinner version of the iPhone that could be released as early...

A driver and crew make a pit stop at the NASCAR Cup Series Championship at the Phoenix Raceway in November 2023. Photo by Grindstone Media Group via Shutterstock.

Pro Weekly: Why Sports Rights Fees Keep Climbing

By Scott Thurm · May 17, 2024 8:00am PDT

A driver and crew make a pit stop at the NASCAR Cup Series Championship at the Phoenix Raceway in November 2023. Photo by Grindstone Media Group via Shutterstock.

Pro Weekly: Why Sports Rights Fees Keep Climbing

By Scott Thurm · May 17, 2024 8:00am PDT

We launched our latest Pro database on Wednesday, the Sports Rights Database. My colleagues Sahil and Akash detailed more than $180 billion in sports rights deals across eight professional and college sports leagues and 10 platforms, including Disney’s ESPN and Apple TV+. We launched our latest Pro database on Wednesday, the Sports Rights Database. My colleagues Sahil...

Art by Clark Miller

How Lacework Went From Cybersecurity Stardom to Fire Sale Talks

By Aaron Holmes and Natasha Mascarenhas · May 17, 2024 6:00am PDT · 3 comments

Last summer, more than a hundred people crowded into the brightly lit basement of a Lululemon store in Manhattan at the invitation of Lacework, a cybersecurity unicorn. By all appearances, the startup seemed to enjoy an enviable position, with an $8.3 billion valuation and an assortment of blue-chip investors, including Sutter Hill Ventures,... Last summer, more than a hundred people crowded into the brightly lit basement of a Lululemon...

Photo by Getty Images.

Stability AI in Talks to Raise Money From Group Including Sean Parker

By Stephanie Palazzolo · May 16, 2024 6:42pm PDT · 3 comments

A group of investors including Sean Parker, Facebook’s first president, has discussed making an investment in Stability AI, a startup developing products that run on open-source image generator Stable Diffusion, according to a person directly involved in deal conversations. The deal would represent a lifeline for Stability, which... A group of investors including Sean Parker, Facebook’s first president, has...

Credit: Photo via Adobe Stock

Walmart and Amazon’s Favorite New Catchphrase

By Theo Wayt · May 16, 2024 5:00pm PDT

A few years ago, in the salad days of startups like Gopuff, Getir and Gorillas that promised grocery deliveries in as little as 10 or 20 minutes, investors like SoftBank and Mubadala bet billions of dollars on the idea that shoppers wanted “ultrafast delivery.” Now it’s looking like the actual future of delivery will wind up being “just fast... A few years ago, in the salad days of startups like Gopuff, Getir and Gorillas that promised...

Photo by Getty

The Year of Venture Capital Breakups

By Kate Clark · May 16, 2024 3:05pm PDT · 1 comment

Photo by Getty

The Year of Venture Capital Breakups

By Kate Clark · May 16, 2024 3:05pm PDT · 1 comment

This is turning into the year of venture capital breakups.First, two high-profile splits announced last year became official in 2024. At Tiger Global Management, private investments chief Scott Shleifer moved into an advisory role at the firm led by Chase Coleman. And Neil Shen’s Sequoia Capital China (now HongShan) officially split from... This is turning into the year of venture capital breakups.First, two high-profile splits...

Carbone Fine Foods has worked with Ampla for funding on its retail tomato sauce. Photo via Adobe Stock.

Creator Economy

The Lending Cracks That Could Halt Creators’ E-Commerce Brands

By Ann Gehan · May 16, 2024 2:15pm PDT

Over the last year, we’ve seen more creators try to expand their offline businesses, inspired by high-profile launches such as MrBeast’s snack company Feastables and Emma Chamberlain’s Chamberlain Coffee, which disclosed in a filing Wednesday it had raised an additional $4.6 million in funding. While that trend is likely to continue, it could... Over the last year, we’ve seen more creators try to expand their offline businesses, inspired by...

Figma CEO Dylan Field at SXSW 2024. Photo by Rick Kern/Getty Images.

Figma Shareholders to Sell Up to $900 Million of Stock at Deep Discount to Adobe Price

By Cory Weinberg · May 16, 2024 12:00pm PDT

Figma employees and early shareholders collectively will be able to sell as much as $900 million of their shares after lining up commitments from nearly two dozen new and existing backers that valued the design collaboration startup at $12.5 billion. The price represents a nearly 38% decline from Adobe’s proposed plan to buy the company... Figma employees and early shareholders collectively will be able to sell as much as $900 million...

Amazon CEO Andy Jassy, left, and AWS's new leader Matt Garman. Photos via Getty

For AWS’ New Leader, Big Decisions Lie Ahead on AI, Business Apps

By Anissa Gardizy and Theo Wayt · May 16, 2024 11:39am PDT · 1 comment

For years, many current and former executives at Amazon expected Matt Garman to lead Amazon Web Services someday, given his long tenure at the cloud provider and reputation as a protégé of AWS’ first leader, Andy Jassy. But that day arrived a little sooner than they expected when Jassy, now Amazon’s CEO, said Tuesday... For years, many current and former executives at Amazon expected Matt Garman to lead Amazon Web...

Carnegie Mellon University. Photo via Adobe Stock.

Legal Problems Are Coming for AI Researchers in Academia; OpenAI Cofounder Shares His AGI Timeline

By Stephanie Palazzolo · May 16, 2024 7:30am PDT

Carnegie Mellon University. Photo via Adobe Stock.

Legal Problems Are Coming for AI Researchers in Academia; OpenAI Cofounder Shares His AGI Timeline

By Stephanie Palazzolo · May 16, 2024 7:30am PDT

Artificial intelligence developers have a long history of playing fast and loose with intellectual property rights when it comes to getting data to train their models. While data owners are increasingly suing OpenAI, Microsoft, Meta Platforms and other major firms over such alleged violations, the heat may soon be turned on academics who operate... Artificial intelligence developers have a long history of playing fast and loose with...