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

Dario Amodei, CEO of Anthropic. Photo by Chance Yeh/Getty Images

Anthropic’s Success Sparks Server Crunch

By Stephanie Palazzolo · Mar 30, 2026 7:00am PDT · 2 comments

Anthropic has gained more than a few new fans in recent months (unless you’re Under Secretary of Defense Emil Michael). Thanks to the strength of its automated coding tools, Anthropic more than doubled its annualized sales to $19 billion during the first two months this year. And it’s closing the revenue gap with larger rival OpenAI.But as the... Anthropic has gained more than a few new fans in recent months (unless you’re Under Secretary of...

Art by Mike Sullivan

Crypto’s Nasty Downturn Is Getting Worse

By Yueqi Yang · Mar 30, 2026 6:00am PDT

The relentless decline in the crypto market is about to hit the six-month mark with no end in sight, prompting companies to cut staff and pivot to businesses such as stock trading and prediction markets. Bitcoin has lost half of its value since peaking early last October at $126,080, with other crypto assets down far more. Monthly trading volume... The relentless decline in the crypto market is about to hit the six-month mark with no end in...

Nth Cycle's pilot factory in Fairfield, Ohio. Photo: Courtesy Nth Cycle.

The Electric: Why Going Small May Be How to Survive the Battery Downturn

By Steve LeVine · Mar 30, 2026 4:30am PDT

Five years ago, Western car, battery and metals companies spent billions of dollars to build gigantic factories to meet forecasts of tremendous demand for electric vehicles. Among them were companies that promised to recycle spent batteries, with the goal of reducing the cost and environmental footprint of making EVs and allowing the West to... Five years ago, Western car, battery and metals companies spent billions of dollars to build...

Elon Musk. Stefani Reynolds/Bloomberg via Getty Images.

SpaceX’s IPO Challenge

By Martin Peers · Mar 29, 2026 3:00pm PDT

Elon Musk. Stefani Reynolds/Bloomberg via Getty Images.

SpaceX’s IPO Challenge

By Martin Peers · Mar 29, 2026 3:00pm PDT

Break out the oxygen masks. The number of breathless headlines is about to soar. SpaceX is expected to file its initial IPO paperwork with the Securities and Exchange Commission any day now. It will be the confidential version, so we won’t get to see it. But what is usually a procedural nonevent for the public has turned into a carnival thanks... Break out the oxygen masks. The number of breathless headlines is about to soar. SpaceX is...

Sunday Insights

SpaceX Hype Boosts Stocks in Its Crosshairs

By Theo Wayt · Mar 29, 2026 8:00am PDT · 5 comments

Stocks in rocket launch and satellite companies have surged over the past year, as SpaceX’s soaring private valuation and steps toward what could be a record-smashing initial public offering drums up enthusiasm for all things outer space. But most of the companies whose stocks have been rocketing are at risk if SpaceX solidifies its lead in... Stocks in rocket launch and satellite companies have surged over the past year, as SpaceX’s...

Illustration: Clark Miller (Photos: Getty Images)

Inside JPMorgan's Tech100: Bezos, Amodei and the Billionaire Who Wasn't There

By Jessica Lessin · Mar 28, 2026 8:00am PDT

Welcome, Weekenders! In this newsletter:• The Big Read: Midjourney’s David Holz was AI’s creative rebel. Then Google pounced. • Plus, Recommendations—our weekly pop culture picks: “Catching the Codfather” “American Reich” and “For All Mankind”The only thing more fluid these days than which AI company has a better model is which... Welcome, Weekenders! In this newsletter:• The Big Read: Midjourney’s David Holz was AI’s creative...

Illustration: Clark Miller (Photos: Apple TV)

Media and Entertainment

The ‘For All Mankind’ Showrunners Think They Know What Silicon Valley Likes

By Abram Brown · Mar 28, 2026 7:01am PDT · 1 comment

Over five seasons, the fictional human beings in “For All Mankind,” Apple TV’s alt-history space race drama, have accomplished any number of feats: They’ve landed on the moon. And on Mars. They’ve put a woman in the White House—mainstreamed nuclear fusion, too. In another dramatic moment, a group even managed to lasso an asteroid laden... Over five seasons, the fictional human beings in “For All Mankind,” Apple TV’s alt-history space...

Art by Clark Miller; Getty Images.

Midjourney Is Profitable and Chasing Hardware Dreams. But Can It Survive Google?

By Jemima McEvoy · Mar 27, 2026 9:09am PDT · 3 comments

Art by Clark Miller; Getty Images.

Midjourney Is Profitable and Chasing Hardware Dreams. But Can It Survive Google?

By Jemima McEvoy · Mar 27, 2026 9:09am PDT · 3 comments

Over much of the past year, David Holz, the 37-year-old founder of Midjourney, has devoted himself to a single task: reassuring fans of his AI image-making tool that a new, significant update—version 8—would indeed arrive soon. Initially, Holz said it might come at the end of 2025. That date slipped to January. Then February. Then... Over much of the past year, David Holz, the 37-year-old founder of Midjourney, has devoted...

Tencent Bets on OpenClaw to Make Up for Lost Ground in China AI Battle

By Qianer Liu and Juro Osawa · Mar 27, 2026 6:00am PDT · 1 comment

Shortly after OpenClaw shot to popularity in January, a newly hired product manager at Tencent in China became obsessed with the open-source software for building AI agents. That manager, Shuyu Zhang, quickly came up with the idea for QClaw, an OpenClaw-based agent that can be installed with one click and controlled with Tencent’s WeChat app,... Shortly after OpenClaw shot to popularity in January, a newly hired product manager at Tencent in...

The Los Angeles Superior Court on Tuesday. Genaro Molina/LA Times/Getty Images.

Social Media’s New Legal Overhang

By Martin Peers · Mar 26, 2026 5:00pm PDT

It was a brutal day on Wall Street—particularly for shares of Meta Platforms, Reddit and Snap. While the Nasdaq dropped 2.4%, shares of the social media firms plunged between 8% and 10% as the implications of Wednesday’s verdict in the social media addiction lawsuit sank in. That verdict, which found Meta and Google’s YouTube liable for... It was a brutal day on Wall Street—particularly for shares of Meta Platforms, Reddit and Snap....

How the Next General Partners Are Winning Deals

How the Next General Partners Are Winning Deals

By Julia Hornstein · Mar 26, 2026 4:37pm PDT

This morning we published a list of 15 venture capital partners our sources tell us could be slated to become general partners, or the top decision makers at their firms. One thing that’s clear from the dozens of conversations I had to report on the list: Investors need to be more creative—and move faster—than ever to win deals. Take Yazan... This morning we published a list of 15 venture capital partners our sources tell us could be...

Anthropic CEO Dario Amodei via AP

Anthropic Discusses Going Public as Soon as the Fourth Quarter

By Valida Pau and Sri Muppidi · Mar 26, 2026 3:10pm PDT · 1 comment

Anthropic CEO Dario Amodei via AP

Anthropic Discusses Going Public as Soon as the Fourth Quarter

By Valida Pau and Sri Muppidi · Mar 26, 2026 3:10pm PDT · 1 comment

Anthropic executives have discussed an initial public offering of the AI firm’s shares as soon as the fourth quarter this year, according to people familiar with the matter. Bankers vying to take Anthropic public expect the company to raise more than $60 billion in the initial public offering, said some of the people. That could be the... Anthropic executives have discussed an initial public offering of the AI firm’s shares as soon as...

Art by Mike Sullivan

Ozempic Maker Says AI Agents Are Shortening Its Clinical Trials

By Aaron Holmes · Mar 26, 2026 11:00am PDT

In the ultracompetitive world of drug development, getting a new medication on the market as fast as possible can have major business implications. There’s perhaps no better recent example than Novo Nordisk, which has generated nearly $100 billion in sales of weight loss drugs Ozempic and Wegovy while trying to fend off competition from Eli... In the ultracompetitive world of drug development, getting a new medication on the market as fast...

Microsoft CEO Satya Nadella via Getty

Microsoft Freezes Hiring in Major Cloud and Sales Groups

By Kevin McLaughlin and Aaron Holmes · Mar 26, 2026 10:36am PDT

Microsoft executives in recent weeks told managers at major divisions, including its Azure cloud and North American sales groups, to suspend new hiring, according to three current employees with direct knowledge of the decision. It’s not uncommon for Microsoft to slow hiring or even lay off staff toward the end of its fiscal year, which ends in... Microsoft executives in recent weeks told managers at major divisions, including its Azure cloud...

Art by Mike Sullivan/Shutterstock

Claude is Gaining on OpenClaw

By Rocket Drew · Mar 26, 2026 7:25am PDT

Anthropic has been on a tear in adding features to its Claude AI agents for coding and other white-collar work. The Claude agents now offer many of the features that turned OpenClaw, an open-source tool for developing personal AI agents, into a sensation.Claude’s new features include the ability to take over a person’s computer to perform... Anthropic has been on a tear in adding features to its Claude AI agents for coding and other...

Introducing The Information’s 2026 List of Next General Partners

By Julia Hornstein · Mar 26, 2026 6:00am PDT · 6 comments

Introducing The Information’s 2026 List of Next General Partners

By Julia Hornstein · Mar 26, 2026 6:00am PDT · 6 comments

A tidal wave of fast-growing AI startups has given venture capitalists many more shots to score winning investments. But competition to invest has never been more intense. That has made the partners who can secure stakes in sought-after startups all the more valuable. The Information asked over two dozen founders and investors about the... A tidal wave of fast-growing AI startups has given venture capitalists many more shots to score...

James Detweiler, Deedy Das and Lulu Meservey.

Where Last Year’s ‘Next General Partner’ Finalists Are Now

By Julia Hornstein · Mar 26, 2026 6:00am PDT · 2 comments

Investments in AI startups such as Mercor and Skild AI helped advance three of 16 finalists in last year’s list of Next General Partners to higher positions, including to the role of general partner in their firms. These promotions reflect how AI continues to dominate venture capital investing. Last year’s finalists can’t credit just AI,... Investments in AI startups such as Mercor and Skild AI helped advance three of 16 finalists in...

On March 12, Joby flew its eVTOL over San Francisco. Photo: Courtesy Joby Aviation.

Exclusive From The Electric: Two Electric Aviation Startups Attempt to Jump Ahead of Rivals

By Steve LeVine · Mar 26, 2026 4:30am PDT

The Iran war seems likely to scotch the plans of U.S. electric aviation startups to launch their first commercial flights in the Middle East this year. But in the next few weeks and months, two leaders in the nascent industry will be flying in the U.S. The Iran war seems likely to scotch the plans of U.S. electric aviation startups to launch their...

The plaintiff's family and attorney react to the news that the jury has found Meta and YouTube liable in the social media addiction trial in Los Angeles Superior Court. Frederic J. Brown / AFP via Getty Images.

Meta’s Future Value and the Social Media Verdict

By Martin Peers · Mar 25, 2026 5:00pm PDT

Talk about bad timing. Meta Platforms made a big splash on Tuesday night by disclosing new stock grants for senior executives that fully pay out only if the company’s market capitalization rises above $9.4 trillion by 2031, from $1.5 trillion now. Hours later, on Wednesday, we scooped the news that Meta was laying off hundreds of people. And... Talk about bad timing. Meta Platforms made a big splash on Tuesday night by disclosing new stock...

Getty Images

Blackstone Nears Deal to Buy Data Center Firm Rowan

By Anissa Gardizy, Valida Pau and Miles Kruppa · Mar 25, 2026 2:26pm PDT

Getty Images

Blackstone Nears Deal to Buy Data Center Firm Rowan

By Anissa Gardizy, Valida Pau and Miles Kruppa · Mar 25, 2026 2:26pm PDT

Blackstone is close to a deal to buy Rowan Digital Infrastructure, a major U.S. data center developer that builds campuses for large cloud providers, according to a person with direct knowledge of the deal. The terms of the deal couldn’t be learned, but the company would likely be valued at more than $10 billion, including its debt, people... Blackstone is close to a deal to buy Rowan Digital Infrastructure, a major U.S. data center...