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

Krishna Rao. Photo via Fanatics.

Anthropic Hires Airbnb Vet as First CFO

By Cory Weinberg · May 21, 2024 10:38am PDT · 1 comment

Anthropic, the maker of artificial intelligence chatbot Claude, has hired Airbnb veteran Krishna Rao as its first chief financial officer, two people with direct knowledge of the matter said. The executive hire, which the company plans to announce this week, is a sign the three-year-old startup is bolstering its executive ranks as it tries to... Anthropic, the maker of artificial intelligence chatbot Claude, has hired Airbnb veteran Krishna...

HubSpot's Cambridge, Mass. headquarters. Photo via AP.

Why HubSpot Needs Google

By Anita Ramaswamy · May 21, 2024 8:00am PDT · 3 comments

HubSpot investors better hope that Google actually buys it. The marketing software company’s growth is slowing as the small businesses it caters to try to cut down their bills, and it faces mounting competition from flashy AI tools that could chip away at its business. As Google reportedly discusses an acquisition of HubSpot, which sells... HubSpot investors better hope that Google actually buys it. The marketing software...

Suno's Mikey Shulman, Martin Camachol, Keenan Freyberg and George Kucsko. Photos via Suno/Shutterstock. Photo illustration by The Information.

Music Generator Suno Raises Capital at $500 Million Valuation; Altman Went Behind ‘Her’ Back

By Stephanie Palazzolo · May 21, 2024 7:05am PDT

New York isn’t known for its roomy apartments, which is why my electric piano is currently gathering dust on top of my kitchen cabinets. So I was especially excited to use Suno, an artificial intelligence music generator. It turns simple text descriptions like “a dark disco song about when you're not around” and “a romantic garage song about... New York isn’t known for its roomy apartments, which is why my electric piano is currently...

Photo via Getty

Why Nvidia’s Favorite Cloud Startup Got $7.5 Billion From Blackstone, Others

By Anissa Gardizy · May 21, 2024 6:00am PDT

Photo via Getty

Q&A

Why Nvidia’s Favorite Cloud Startup Got $7.5 Billion From Blackstone, Others

By Anissa Gardizy · May 21, 2024 6:00am PDT

OpenAI and its artificial intelligence rivals get all the headlines, but few venture-backed companies have benefited more from the AI boom than CoreWeave, a cloud provider. That's thanks to Nvidia, which allocated some of its precious AI server chips to CoreWeave rather than large clouds like Amazon Web Services, prompting startups and even... OpenAI and its artificial intelligence rivals get all the headlines, but few venture-backed...

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...