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

Art by Mike Sullivan

Alibaba and Baidu Adopt Their Own AI Chips in Major Shift for Chinese Tech

By Qianer Liu · Sep 11, 2025 8:24am PDT · 1 comment

Chinese tech giants Alibaba Group and Baidu have begun using their own internally designed chips to train their artificial intelligence models, partly replacing AI chips made by Nvidia, according to four people with direct knowledge of the moves. The move is the latest sign that a decoupling of Chinese AI development from the Western... Chinese tech giants Alibaba Group and Baidu have begun using their own internally designed chips...

OpenAI CEO Sam Altman. Photo by Getty

OpenAI’s Spending Spree is Reordering the Cloud Market

By Amir Efrati · Sep 11, 2025 7:00am PDT

When OpenAI two months ago agreed to rent an unfathomably large amount of data center capacity from Oracle (4.5 gigawatts, or enough to power several large cities), we thought the market would have priced in the eventual mammoth revenue from that publicly announced deal. We were wrong.On Tuesday, Oracle disclosed that computing contracts would... When OpenAI two months ago agreed to rent an unfathomably large amount of data center capacity...

Photo via Getty

Judge’s Google Data Sharing Order Leaves Small Rivals Hanging

By Erin Woo · Sep 11, 2025 6:00am PDT

Just over a week after a federal judge ordered Google to share its search data with rivals, the limitations of the judge’s order have become more clear—as have the doubts about whether rivals will be able to take advantage of it. The order was designed to weaken Google’s monopoly in search by allowing smaller search rivals to get access to... Just over a week after a federal judge ordered Google to share its search data with rivals, the...

A stationary storage facility in Houston, Texas. Photo: Jason Fochtman/Houston Chronicle/Getty

The Electric: Chinese Stationary Storage Batteries Are All the Rage in the U.S.

By Steve LeVine · Sep 11, 2025 4:30am PDT

A stationary storage facility in Houston, Texas. Photo: Jason Fochtman/Houston Chronicle/Getty

The Electric: Chinese Stationary Storage Batteries Are All the Rage in the U.S.

By Steve LeVine · Sep 11, 2025 4:30am PDT

Pushed by a surge of electricity demand, stationary battery companies have been on a tear, making the U.S. the second-fastest growing battery market in the world behind China. Further juicing demand for batteries and components is a rush to build stockpiles ahead of possible new tariffs and the loss of subsidies. Pushed by a surge of electricity demand, stationary battery companies have been on a tear, making...

Flynt CEO Daniel Kirchert. Photo: Steve LeVine/The Electric

The Electric: An EV Developer Urges Rivals to Capitalize on China's Cheap Batteries

By Steve LeVine · Sep 11, 2025 4:30am PDT · 1 comment

Batteries made in China are dirt cheap. So are a slew of other electric vehicle components manufactured there. So if you’re a shrewd Western entrepreneur, why not embrace these cut-rate prices, and make valuable products from them for U.S. and European customers? How about a low-priced delivery van, for instance? Batteries made in China are dirt cheap. So are a slew of other electric vehicle components...

Karol Hausman, co-founder and CEO of Physical Intelligence. Images via YouTube.

Robotics Startup Physical Intelligence in Talks to Raise at $5 Billion Valuation

By Katie Roof · Sep 10, 2025 7:05pm PDT

Physical Intelligence, a startup developing large artificial intelligence models to power robots, is in talks with investors to raise additional venture capital at a valuation of about $5 billion, according to two people who have recently spoken to the company. A financing at that valuation would more than double the price investors awarded the... Physical Intelligence, a startup developing large artificial intelligence models to power robots,...

Photo via Getty

Oracle Frenzy Spreads

By Ken Brown · Sep 10, 2025 5:00pm PDT · 1 comment

Years from now, today may be remembered as the moment of peak euphoria for artificial intelligence. Not only did Oracle’s stock jump 36%—thanks to the company’s stunningly optimistic forecast for AI-related cloud revenue growth—but the enthusiasm spread to a range of companies that may not get the same boost from AI.I’ll be quick with the... Years from now, today may be remembered as the moment of peak euphoria for artificial...

Art by Clark Miller.

Are AI Valuations Bonkers?

By Vinod Khosla · Sep 10, 2025 10:00am PDT · 6 comments

Art by Clark Miller.

Are AI Valuations Bonkers?

By Vinod Khosla · Sep 10, 2025 10:00am PDT · 6 comments

To many investors, valuations in AI land are bonkers—yet others justify them. This isn’t your usual bubble mania. Most valuations are bonkers, yet some valuations, even some apparently high valuations are not bonkers. The lower valuations will not be the ones that will be good investments! My message: don’t indiscriminately pay up, but... To many investors, valuations in AI land are bonkers—yet others justify them. This isn’t...

Art via Mike Sullivan

The Simple Trick That Turns xAI and Google’s Models into Math Geniuses

By Stephanie Palazzolo · Sep 10, 2025 7:00am PDT

Earlier this summer, chatter in AI communities went into overdrive after OpenAI and Google revealed that their models had achieved gold medal-level performance on the prestigious International Mathematical Olympiad. In the past, this competition had proved difficult for AI models, which struggled to verify whether their generated math proofs... Earlier this summer, chatter in AI communities went into overdrive after OpenAI and Google...

Art by Mike Sullivan

Amazon is Developing AR Glasses in Challenge to Meta

By Wayne Ma and Juro Osawa · Sep 10, 2025 6:00am PDT

Amazon is developing a pair of augmented-reality glasses for consumers, say two people with knowledge of the plans. In doing so, Amazon is jumping into a still-unproven market in competition with Meta Platforms, which is expected to unveil a new version of its AR glasses at its Connect conference next week, according to people who have worked on... Amazon is developing a pair of augmented-reality glasses for consumers, say two people with...

Art by Mike Sullivan

Crypto Exchange Sets Off Price War for Stablecoins

By Yueqi Yang · Sep 10, 2025 5:00am PDT · 1 comment

Just two months after Congress passed a cryptocurrency law that gave a big boost to stablecoins, a price war has broken out, potentially wiping away the lucrative profits these tokens could generate. The battle is taking place among users of Hyperliquid, a fast-growing decentralized crypto exchange. They are considering reducing their use of... Just two months after Congress passed a cryptocurrency law that gave a big boost to stablecoins,...

Art by Clark Miller.

Sequoia Poised for Nearly $3 Billion Gain From Klarna IPO

By Katie Roof · Sep 9, 2025 5:23pm PDT

Art by Clark Miller.

Sequoia Poised for Nearly $3 Billion Gain From Klarna IPO

By Katie Roof · Sep 9, 2025 5:23pm PDT

Klarna’s two-decade journey to a public listing means a lucrative return for its biggest backer—Sequoia Capital. The Silicon Valley firm stands to make about $2.65 billion on paper from its investment in the buy now, pay later lender, which endured boardroom drama and tumbling valuations on its way to a public listing. Sequoia owns 21% of... Klarna’s two-decade journey to a public listing means a lucrative return for its biggest...

Larry Ellison. Photo via Getty

Oracle’s Blockbuster Projections; Apple’s New iPhones

By Martin Peers · Sep 9, 2025 5:00pm PDT

The biggest news today wasn’t Apple’s new line of iPhones—that was about as much of a secret as the time of tomorrow’s sunrise (for more details of the Apple presentation, see below)—but Oracle’s blockbuster revenue projections. The software-and-cloud firm is enjoying what you might call its Nvidia moment. It is finally showing the benefits of... The biggest news today wasn’t Apple’s new line of iPhones—that was about as much of a secret as...

Art by Shane Burke

The $115 Billion Reason OpenAI Will Raise More Money

By Sri Muppidi · Sep 9, 2025 12:00pm PDT

Last week, I reported on how OpenAI updated its financial forecasts for investors. The company expects to spend nearly $115 billion between 2025 and 2029. That’s $80 billion more than it forecast in the first quarter. As the chart shows, the startup—recently valued at $500 billion in a sale of employee shares—has been able to handily raise... Last week, I reported on how OpenAI updated its financial forecasts for investors. The company...

Microsoft CEO Satya Nadella, left, and Anthropic CEO Dario Amodei. Photos via Getty

Microsoft to Buy AI From Anthropic in Partial Shift From OpenAI

By Aaron Holmes · Sep 9, 2025 11:18am PDT · 1 comment

Microsoft is taking its biggest step to lessen reliance on OpenAI’s artificial intelligence by embracing the startup’s bitter rival Anthropic to power its most important software business. Microsoft will pay to use Anthropic’s technology for some AI features in Office 365 apps, according to two people involved in the effort. The move will... Microsoft is taking its biggest step to lessen reliance on OpenAI’s artificial...

Census Bureau Says Corporate AI Adoption is Slowing

Census Bureau Says Corporate AI Adoption is Slowing

By Aaron Holmes · Sep 9, 2025 10:30am PDT

Census Bureau Says Corporate AI Adoption is Slowing

Census Bureau Says Corporate AI Adoption is Slowing

By Aaron Holmes · Sep 9, 2025 10:30am PDT

Across American businesses, use of artificial intelligence has fallen in recent months, according to the Census Bureau’s biweekly survey of thousands of companies.The drop is especially pronounced at the largest companies surveyed: AI for “producing goods and services” peaked in June for those with 250 employees, with roughly 15% of surveyed... Across American businesses, use of artificial intelligence has fallen in recent months, according...

AUI cofounders Ori Cohen (left) and Ohad Elhelo (right)

The Startup Teaching AI Agents How to Actually Get Stuff Done

By Ann Gehan · Sep 9, 2025 7:00am PDT

I’ve written lots over the past few months about how startups and big tech companies alike are trying to tackle the problem of agentic commerce—the fancy term for “agent” services that take action on behalf of consumers, in this case, buying stuff. While AI search is a powerful tool to help shoppers hone in on the perfect gift or find a hotel... I’ve written lots over the past few months about how startups and big tech companies alike are...

Marc Andreessen and Ben Horowitz, co-founders of Andreessen Horowitz. Photo via Getty.

Andreessen Horowitz Crypto Returns Boosted by 300% Solana Rally

By Natasha Mascarenhas · Sep 9, 2025 6:00am PDT · 1 comment

When Andreessen Horowitz raised a record-setting $4.5 billion crypto fund in May 2022, it seemed to have timed the market—in all the wrong ways. Bitcoin prices had fallen 55% from their peak, while Coinbase shares had dropped about 80%. Both would stay depressed for more than another year. But the Sand Hill Road firm’s crypto bets are... When Andreessen Horowitz raised a record-setting $4.5 billion crypto fund in May 2022, it seemed...

Oracle CEO Safra Catz. Photo via Getty

Oracle Is Squeezing Employees as AI Development Costs Mount

By Martin Peers · Sep 8, 2025 5:00pm PDT

Of all the tech companies to reinvent themselves through the power of artificial intelligence, Oracle may be the most surprising. The software giant of yesteryear (well, the 1980s and ‘90s), which stumbled in software’s transition to the cloud, has gotten a new lease on life as an AI cloud provider. We’ll get an update on its progress on Tuesday... Of all the tech companies to reinvent themselves through the power of artificial intelligence,...

Supabase CEO Paul Copplestone. Screenshot via YouTube

Supabase in Talks to More Than Double Its Valuation to $5 Billion

By Katie Roof and Natasha Mascarenhas · Sep 8, 2025 4:00pm PDT

Supabase CEO Paul Copplestone. Screenshot via YouTube

Supabase in Talks to More Than Double Its Valuation to $5 Billion

By Katie Roof and Natasha Mascarenhas · Sep 8, 2025 4:00pm PDT

Supabase, a database startup that has benefited from the rise of artificial intelligence-powered coding assistants, is in talks with investors about offers that could raise its valuation to at least $5 billion, according to two people with direct knowledge of the discussions. The investment, if finalized, would more than double its... Supabase, a database startup that has benefited from the rise of artificial intelligence-powered...