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

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The Information Finance

Pre-IPO Betting Boom Hits Prediction Markets

By Yueqi Yang · May 27, 2026 8:18am PDT

Most everyday investors can’t buy shares of hot private companies like SpaceX and OpenAI before they go public. With potential mega-IPOs looming this year, prediction markets like Polymarket and Kalshi are turning that hype into tradable bets. Users are flocking to yes-or-no bets on milestones like valuations and IPO timelines, betting... Most everyday investors can’t buy shares of hot private companies like SpaceX and OpenAI before...

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The Hot New Way to Communicate with AI? Whispering

By Stephanie Palazzolo · May 27, 2026 7:01am PDT · 3 comments

If you wander into the Manhattan office of AI startup Basis on a workday, you’ll see most of its 100 or so staffers whispering quietly into gooseneck microphones at their desks. They aren’t taking phone calls or talking with other humans at all. They’re speaking softly to their AI agents and chatbots. Such whispering has become a... If you wander into the Manhattan office of AI startup Basis on a workday, you’ll see most of its...

Art by Mike Sullivan/Getty Images.

Polymarket Wants Traders to ID Themselves as It Faces Sanctions, Legal Risks

By Michael Roddan · May 27, 2026 6:00am PDT · 2 comments

In Russia, making bets on Polymarket isn’t permitted by the popular online prediction market’s rules. But that hasn’t stopped Ruslan Kashaev, a software developer who lives in the small Russian city of Ufa, a 15-hour drive from Moscow, from turning the site into a lucrative source of income. Using automated trading bots hosted on the Telegram... In Russia, making bets on Polymarket isn’t permitted by the popular online prediction market’s...

Anthropic CEO Dario Amodei. Photo by Andrej Sokolow/Getty Images

Anthropic Is Likely Generating at Least 35% More Revenue Than OpenAI

By Amir Efrati and Sri Muppidi · May 26, 2026 6:04pm PDT · 3 comments

Anthropic CEO Dario Amodei. Photo by Andrej Sokolow/Getty Images

Anthropic Is Likely Generating at Least 35% More Revenue Than OpenAI

By Amir Efrati and Sri Muppidi · May 26, 2026 6:04pm PDT · 3 comments

On New Year’s Day, OpenAI leaders would have been happy to hear that the company’s monthly revenue would rise more than 50% over the first five months of 2026, roughly in line with the projections it previously shared with investors. But they’re not likely to feel that way now: That pace looks downright tame compared to that of Anthropic, whose... On New Year’s Day, OpenAI leaders would have been happy to hear that the company’s monthly...

Art by Clark Miller.

Boom Times for Inference Providers?

By Laura Mandaro and Stephanie Palazzolo · May 26, 2026 5:31pm PDT · 2 comments

Less than a year ago, our reporters kept hearing doubts about a group of startups called inference providers. Companies like Fireworks, Baseten and Together AI, which rent out Nvidia servers to app developers and help them customize open-source models, had grown quickly but seemed at risk of getting steamrolled by major cloud providers that... Less than a year ago, our reporters kept hearing doubts about a group of startups called...

Tuhin Srivastava, CEO of Baseten. Photo via Getty Images

AI Inference Provider Baseten in Talks to Raise $1 Billion at $11 Billion Valuation

By Stephanie Palazzolo and Katie Roof · May 26, 2026 3:09pm PDT

AI startup Baseten has recently been in talks with investors to raise $1 billion at an $11 billion valuation including the money, according to a person with knowledge of the fundraise. That would more than double the company’s $5 billion valuation from its last round, which was announced just three months ago. The fundraising comes on the back... AI startup Baseten has recently been in talks with investors to raise $1 billion at an $11...

Uber CEO Andrew Macdonald. Photo by Zed Jameson/ Getty Images

Uber COO Says AI Lacks ROI

By Kevin McLaughlin · May 26, 2026 1:01pm PDT · 1 comment

Many corporate leaders say they’re getting value from AI as their spending on it skyrockets, but hype is outpacing reality in plenty of cases.On a podcast over the weekend, for instance, Uber Chief Operating Officer Andrew Macdonald said the ride-hailing company isn’t seeing a clear increase in productivity from using AI coding services despite... Many corporate leaders say they’re getting value from AI as their spending on it skyrockets, but...

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OpenAI’s PR Challenge

By Stephanie Palazzolo · May 26, 2026 7:01am PDT

Photo via Getty Images

OpenAI’s PR Challenge

By Stephanie Palazzolo · May 26, 2026 7:01am PDT

The battle between OpenAI, Anthropic and Google spans revenue, models, server access and research talent. But as OpenAI and Anthropic barrel toward initial public offerings, public perception is also an important factor in the race as political backlash to the industry grows.OpenAI seems particularly vulnerable in PR after a series of awkward or... The battle between OpenAI, Anthropic and Google spans revenue, models, server access and research...

Art by Mike Sullivan.

OpenAI Targets Smaller Advertisers With New ChatGPT Ads

By Ann Gehan · May 26, 2026 6:01am PDT · 3 comments

When OpenAI first launched ChatGPT ads earlier this year, it lined up well-known brands with big advertising budgets, like Adobe, Ford and Target. Now it’s expanding its advertising business with offerings that cater more to marketers at far smaller companies, putting it directly into competition with ad giant Meta Platforms. OpenAI executives... When OpenAI first launched ChatGPT ads earlier this year, it lined up well-known brands with big...

Salesforce CEO Marc Benioff. Getty Images.

Salesforce and Snowflake Earnings to Focus Attention on AI’s Software Impact

By Martin Peers · May 25, 2026 3:00pm PDT

As we return from the long weekend, we’re preparing for a resumption this week of one of tech’s big debates: whether AI is killing enterprise software. Salesforce, Snowflake and Asana are each reporting earnings for the first fiscal quarter in the next few days, providing us with an update on how they’re doing in selling their own AI tools—and... As we return from the long weekend, we’re preparing for a resumption this week of one of tech’s...

Attendees to CATL Tech Day in Beijing in April. Photo: Qilai Shen/Bloomberg/Getty

The Electric: The Pentagon Advocates Long-Shot Batteries to Leapfrog China

By Steve LeVine · May 25, 2026 9:01am PDT · 1 comment

The Pentagon, pushing back against China’s dominance of the batteries used in electric vehicles, AI data centers, weaponry and almost everything else, is bolstering U.S. efforts to leapfrog well ahead of Chinese battery technology. The Pentagon, pushing back against China’s dominance of the batteries used in electric vehicles,...

Robert Alexander/Getty Images.

Twilio’s AI Boost Is a Double-Edged Sword

By Anita Ramaswamy · May 25, 2026 6:00am PDT

Robert Alexander/Getty Images.

Twilio’s AI Boost Is a Double-Edged Sword

By Anita Ramaswamy · May 25, 2026 6:00am PDT

Twilio stock is on a run so incredible you’d think it was immune to the “SaaS apocalypse” plaguing enterprise software stocks. But investors are missing the bigger picture. The company, which sells software tools to help firms communicate with their customers via text messaging, phone calls and emails, has seen its shares rocket 36% so far this... Twilio stock is on a run so incredible you’d think it was immune to the “SaaS apocalypse”...

Sunday Insights

As SpaceX and OpenAI Prepare for Public Debuts, What Recent IPO History Signals

By Julia Hornstein · May 24, 2026 8:00am PDT · 1 comment

Smart-ring maker Oura and crypto company Blockchain.com said last week they had filed paperwork to go public, adding to a growing number of companies, including OpenAI, that are making moves to list in the wake of SpaceX’s upcoming mega initial public offering. If recent history is any guide, the startups closely tied to AI will do well. For the... Smart-ring maker Oura and crypto company Blockchain.com said last week they had filed paperwork...

A Complicated Comeback for Stanford’s Ex-President

A Complicated Comeback for Stanford’s Ex-President

By Amy Dockser Marcus · May 23, 2026 8:01am PDT

Welcome, Weekenders! In this newsletter:• The Big Read: The tech elite’s go-to real estate broker? The mayor’s brother • Crypto: Inside crypto’s Washington command center • Lists: 20 great books for summer 2026 • Plus, Recommendations—our weekly pop culture picks: “John Kiriakou’s Dead Drop,” “Returning”... Welcome, Weekenders! In this newsletter:• The Big Read: The tech elite’s go-to real estate...

Art by Clark Miller

Politics and Policy

Inside Crypto’s Washington Command Center—and Blitz for Legitimacy

By Yueqi Yang · May 23, 2026 7:01am PDT

The most important real-world address in all of crypto may very well be 1155 F Street in Washington. The location is a 12-story, glass-paneled office tower that has quickly become the industry’s command center in its bid for securing greater sway in the nation’s capital. Nearly everyone who matters in crypto lobbying efforts has set up shop... The most important real-world address in all of crypto may very well be 1155 F Street in...

Art by Clark Miller; covers courtesy of publishers.

20 Great Books for Summer 2026

By Abram Brown · May 23, 2026 7:01am PDT

Art by Clark Miller; covers courtesy of publishers.

20 Great Books for Summer 2026

By Abram Brown · May 23, 2026 7:01am PDT

It may feel like AI has seeped deep into our lives, but compared to the world within “Certainty,” a new dystopian novel by best-selling author John Twelve Hawks, we’re practically in the Flintstones era. In Twelve Hawks’ realm, self-driving tractor-trailers dominate the highways. Parents delegate child-rearing to AI-powered stuffed... It may feel like AI has seeped deep into our lives, but compared to the world within “Certainty,”...

Art: Clark Miller

The Tech Elite’s Go-To Real Estate Broker? The Mayor’s Brother

By Eli Rosenberg · May 22, 2026 9:13am PDT

Even measured against the frenetic heart rate of San Francisco’s real estate market, Alexander Lurie moves at a rapid pace. On a recent Tuesday, Lurie, 41, who’s become a go-to broker for anyone with newfound AI riches, drove around Pacific Heights in a blur while touring a half-dozen of the city’s most expensive homes, hoping to scope out some... Even measured against the frenetic heart rate of San Francisco’s real estate market, Alexander...

Partner Content

How to Create Presentation Outlines in Seconds with Google Gemini

By The Information Partnerships · May 22, 2026 8:17am PDT · 3 comments

When business leaders are preparing for an important presentation, their teams sometimes need to shut down their other work for days or even weeks to clear time for the prep work: multiple meetings to bat around ideas, long email threads to pin down the overarching narrative, and a constant stream of notifications as various stakeholders mark up... When business leaders are preparing for an important presentation, their teams sometimes need to...

Art by Mike Sullivan

Artificial Intelligence

Microsoft Opens a New Front in the Fight Over Data for AI Agents

By Kevin McLaughlin · May 22, 2026 6:00am PDT · 2 comments

Microsoft has opened a new front in the AI data wars, blocking partners from connecting their data management tools to a popular product as it tries to defend its business software strength in the era of AI agents. The friction centers on Power BI, a Microsoft product nearly all Fortune 500 firms use to analyze data about their operations in... Microsoft has opened a new front in the AI data wars, blocking partners from connecting their...

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Chinese EV Battery Giant CATL Plans to Invest in DeepSeek

By Juro Osawa and Qianer Liu · May 22, 2026 4:56am PDT

Photo via Getty Images

Chinese EV Battery Giant CATL Plans to Invest in DeepSeek

By Juro Osawa and Qianer Liu · May 22, 2026 4:56am PDT

Chinese battery giant Contemporary Amperex Technology, better known as CATL, is planning to invest in Chinese AI developer DeepSeek’s fundraising, according to two people with direct knowledge of the matter. CATL’s planned investment comes as it is aggressively stepping up its efforts to sell power equipment to AI data centers. DeepSeek’s... Chinese battery giant Contemporary Amperex Technology, better known as CATL, is planning to...