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

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Recent Editions

SpaceX, Strava, Verkada and Crusoe are 2026 IPO contenders. Photos via Getty.

Nine Tech IPO Contenders to Watch This Year

By Valida Pau · Jan 16, 2026 6:00am PST · 3 comments

Initial public offering listings rebounded last year, though their performance—and a government shutdown—held back some startups’ plans. Now investors are gearing up for a blockbuster IPO year, thanks to an expected listing of SpaceX as well as a smattering of older startups, such as Discord and Strava, that are finally making... Initial public offering listings rebounded last year, though their performance—and a...

MrBeast. Victoria Sirakova/Getty Images.

Bitmine’s Switch From Ether to MrBeast

By Yueqi Yang · Jan 15, 2026 5:00pm PST · 1 comment

Investors who own shares of Bitmine, which last year turned itself into a holding company for ether tokens, woke up to some surprising news today. Bitmine is investing $200 million in Beast Industries, the company of MrBeast, the No.1 YouTuber. He’s known for making viral videos, not for his interest in ether. The investment is what you... Investors who own shares of Bitmine, which last year turned itself into a holding company for...

Getty Images

A Pocket of Enterprise Software Investors Still Love

By Cory Weinberg · Jan 15, 2026 3:39pm PST

What do you get when you offset investors’ recent loathing of software startups with their lust for defense tech? Fast-growing Onebrief, the latest startup to double its valuation in a short span after raising $200 million this week from Battery Ventures and Sapphire Ventures at a $2.15 billion valuation, including the new investment.Onebrief... What do you get when you offset investors’ recent loathing of software startups with their lust...

Satya Nadella, left, and Dario Amodei. Photos by Getty Images.

Cowork Versus Copilot

By Aaron Holmes · Jan 15, 2026 10:51am PST

Satya Nadella, left, and Dario Amodei. Photos by Getty Images.

Cowork Versus Copilot

By Aaron Holmes · Jan 15, 2026 10:51am PST

The AI business continues to create and shift alliances between almost every leading tech firm. Companies may be incentivized to work together to fill each other’s AI or capital needs even as they compete more fiercely for consumer or enterprise dollars.That’s what’s happening with Microsoft and Anthropic. The two firms have recently become fast... The AI business continues to create and shift alliances between almost every leading tech firm....

Photo via Shutterstock

Thinking Machines’ Personnel Shake-Up; ServiceNow Is Still Hiring Young Engineers, in Part Thanks to AI

By Rocket Drew · Jan 15, 2026 7:00am PST · 1 comment

We had more drama in AI land on Wednesday night, as several people exited Thinking Machines Lab, the high-profile startup cofounded by former OpenAI Chief Technology Officer Mira Murati, for OpenAI. Details remain murky but here’s what we know for sure. On Wednesday night, Murati said in a post on X that the company had “parted ways” with ... We had more drama in AI land on Wednesday night, as several people exited Thinking Machines Lab,...

Outside ByteDance’s Beijing headquarters. Getty Images.

Why ByteDance’s Stock Should Rise After TikTok Deal Closes

By Anita Ramaswamy and Jing Yang · Jan 15, 2026 6:00am PST · 1 comment

In the group of highly valued tech companies that have remained private, SpaceX and China’s ByteDance may be the biggest. But SpaceX has already signaled it will go public this year. And now that ByteDance has resolved the yearslong fight over its TikTok app in the U.S., the way may be clear for the Chinese tech giant to go public in the next... In the group of highly valued tech companies that have remained private, SpaceX and China’s...

CATL battery factory in Arnstadt, Germany. Photo: Nicolo Lanfranchi/Bloomberg/Getty

The Electric: China’s Moves Are Likely to Make Its Big Battery Makers Even Bigger

By Steve LeVine · Jan 15, 2026 4:30am PST

Days before China this week announced record exports, it moved to temper global anger over its flood of cheap products going overseas: It killed tax subsidies on exports of batteries and solar panels. Days before China this week announced record exports, it moved to temper global anger over its...

Michael M. Santiago/Getty Images.

Tech Stocks’ Bleak Day; Cerebras Gets Good News

By Martin Peers · Jan 14, 2026 5:00pm PST

Michael M. Santiago/Getty Images.

Tech Stocks’ Bleak Day; Cerebras Gets Good News

By Martin Peers · Jan 14, 2026 5:00pm PST

Wow. Wednesday was not a fun day, particularly if you’re a Verizon customer (guilty!), thanks to a widespread cellular phone outage that hit many of its subscribers for much of the day. It also wasn’t fun for tech investors as stocks sold off across the board. What wasn’t uniform, though, was the severity of the selling. Microsoft, Amazon and... Wow. Wednesday was not a fun day, particularly if you’re a Verizon customer (guilty!), thanks to...

Art by Clark Miller

Why Google, Amazon and OpenAI Are on a Collision Course Over AI Commerce

By The Information Staff · Jan 14, 2026 1:07pm PST

AI-powered shopping is becoming a new area of competition among major technology companies, e-commerce platforms and retailers, each pursuing different approaches to how consumers discover and purchase products online. These efforts range from proprietary shopping agents to shared commerce protocols and embedded checkout systems that could... AI-powered shopping is becoming a new area of competition among major technology companies,...

Palmer Luckey, co-founder of Erebor Bank. Getty Images

The Information Finance

The Upstart Tech Bank Trying to Shake Up Finance

By Ken Brown · Jan 14, 2026 8:30am PST · 1 comment

The most interesting news in banking is happening in Ohio, but it’s really a Silicon Valley story. Erebor Bank, backed by Silicon Valley powerbrokers such as Palmer Luckey and Palantir co-founder Joe Lonsdale, is gearing up to start operating after getting conditional approval from regulators in Washington last year. In the largely... The most interesting news in banking is happening in Ohio, but it’s really a Silicon Valley...

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For Californians Who Want Out, Texas Is the Top Destination

By Shane Burke · Jan 14, 2026 7:45am PST · 2 comments

In California, the highs and lows come together: a steep cost of living, but access to the state’s booming tech industry. Diversity and cultural richness, but also stark inequality and harsh commutes. World-class access to nature, but a real risk of natural disasters. And right now, California’s state taxes are in the spotlight, thanks to a... In California, the highs and lows come together: a steep cost of living, but access to the state’...

Chart by Shane Burke.

‘AI Native’ Startups Double Annualized Revenue to $30 Billion in Seven Months

By Stephanie Palazzolo · Jan 14, 2026 7:00am PST · 1 comment

Chart by Shane Burke.

‘AI Native’ Startups Double Annualized Revenue to $30 Billion in Seven Months

By Stephanie Palazzolo · Jan 14, 2026 7:00am PST · 1 comment

The revenue picture for AI startups is brightening, a bit. In just seven months, annualized revenue at “AI native” companies selling AI models or apps has doubled, from $15 billion to more than $30 billion, according to an analysis of 32 companies from The Information’s Generative AI Database.One problem: OpenAI and Anthropic make... The revenue picture for AI startups is brightening, a bit. In just seven months, annualized...

Outside of a TSMC microchip fabrication plant in Taichung, Taiwan. An Rong Xu for the Washington Post/Getty Images.

TSMC Can’t Make AI Chips Fast Enough

By Qianer Liu · Jan 14, 2026 7:00am PST · 2 comments

Last November, during one of Nvidia CEO Jensen Huang’s five visits to Taiwan last year, he and CC Wei, CEO of Taiwan Semiconductor Manufacturing Co., met with reporters. Wei told the assembled media that Huang had come to ask for more chips, to which Huang, standing next to him, replied: “Yes!” Huang wasn’t the only U.S. tech executive making... Last November, during one of Nvidia CEO Jensen Huang’s five visits to Taiwan last year, he and CC...

From left, Anthropic CEO Dario Amodei, Microsoft CEO Satya Nadella and OpenAI CEO Sam Altman. Images via Getty, art from Mike Sullivan

Microsoft’s Spending on Anthropic AI Is on Pace to Hit $500 Million

By Aaron Holmes, Sri Muppidi and Catherine Perloff · Jan 14, 2026 6:00am PST · 2 comments

OpenAI is Microsoft’s most important AI provider and its biggest cloud server customer. But as OpenAI does more business with Microsoft’s cloud rivals, Microsoft is doing more business with Anthropic, OpenAI’s archrival. Microsoft has quietly become one of Anthropic’s top customers and was recently on pace to spend nearly $500 million a year for... OpenAI is Microsoft’s most important AI provider and its biggest cloud server customer. But as...

Microsoft's Brad Smith. Paul Devlin/Sportsfile via Getty Images.

Microsoft’s Proactive Data Center Promises

By Martin Peers · Jan 13, 2026 5:00pm PST

Maybe Brad Smith should run for office. The Microsoft vice chair and president put his name to a lengthy, detailed document released on Tuesday that demonstrates the tech giant is trying to get ahead of growing grass-roots complaints about the impact of data centers on local communities. Among other things, Microsoft promised to pay enough for... Maybe Brad Smith should run for office. The Microsoft vice chair and president put his name to a...

Image by Getty

The Rise of the Pre-IPO Round

By Laura Mandaro · Jan 13, 2026 3:10pm PST

Image by Getty

The Rise of the Pre-IPO Round

By Laura Mandaro · Jan 13, 2026 3:10pm PST

A favorite trade of 2020 and 2021—buying into a startup shortly before the company is expected to go public, often through the sale of notes convertible into equity—is bubbling again as more startups inch toward public listings. These convertible notes can act as a strong signal the company is intent on an IPO, well before it files a prospectus.... A favorite trade of 2020 and 2021—buying into a startup shortly before the company is expected to...

Andrew Feldman, CEO of Cerebras. Photo By Ramsey Cardy/Getty Images

Chipmaker Cerebras in Talks to Raise $1 Billion at a $22 Billion Valuation

By Valida Pau and Anissa Gardizy · Jan 13, 2026 2:04pm PST

AI chip startup Cerebras Systems is in talks to raise about $1 billion, valuing the company at $22 billion before the new investment, as the chipmaker prepares to go public this year, according to people with knowledge of the discussions. That’s a big jump from its last private valuation of $8.1 billion in September 2025, when it raised $1.1... AI chip startup Cerebras Systems is in talks to raise about $1 billion, valuing the company at...

Art by Mike Sullivan.

Google Flips OpenAI’s Shopping Strategy on Its Head

By Ann Gehan · Jan 13, 2026 1:09pm PST · 1 comment

Google’s latest AI pitch to retailers is simple: Google isn’t planning to take a cut of purchases made through its Gemini AI chatbot and search results. Instead, it plans to make money from its AI shopping push by selling a new type of ads to retailers. That approach is opposite that of OpenAI, which announced checkouts inside ChatGPT in... Google’s latest AI pitch to retailers is simple: Google isn’t planning to take a cut of purchases...

Art via Getty Images

Anthropic and OpenAI’s Coding Tools Produce Websites with Security Flaws

By Aaron Holmes and Kevin McLaughlin · Jan 13, 2026 10:47am PST

Websites created through coding tools from OpenAI, Anthropic, Cursor, Replit and Devin have security flaws, new research shows. These AI-generated websites can be tricked into leaking sensitive data or mistakenly sending money to hackers, AI security startup Tenzai told The Information.“Our initial goal was to compare these different AI coding... Websites created through coding tools from OpenAI, Anthropic, Cursor, Replit and Devin have...

Nvidia CEO Jensen Huang. Photo by Patrick T. Fallon /Getty Images

China Restricts Nvidia Chip Purchases to Special Circumstances

By Qianer Liu · Jan 13, 2026 8:27am PST

Nvidia CEO Jensen Huang. Photo by Patrick T. Fallon /Getty Images

China Restricts Nvidia Chip Purchases to Special Circumstances

By Qianer Liu · Jan 13, 2026 8:27am PST

The Chinese government this week told some tech companies it would only approve their purchases of Nvidia’s H200 AI chips under special circumstances, such as for university research and development labs, according to two people with direct knowledge of the situation. The latest communication signals Beijing is hardening its position against... The Chinese government this week told some tech companies it would only approve their purchases...