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

Groq CEO Jonathan Ross. Photo via Getty.

AI Chipmaker Groq Slashes Projections Soon After Sharing With Investors

By Miles Kruppa, Cory Weinberg and Anissa Gardizy · Jul 29, 2025 10:00am PDT · 1 comment

Groq, a richly funded chip startup trying to take on Nvidia, told investors early this year it was on track to have more than $2 billion in revenue for 2025. Within the past month, the number it gave to investors has fallen to more than $500 million, according to documents viewed by The Information. Groq’s $2 billion projection came around the... Groq, a richly funded chip startup trying to take on Nvidia, told investors early this year it...

Runway CEO Cristóbal Valenzuela at The Information’s Private Capital Conference. Photo by Nicole Pereira.

Runway, Luma Target Sales to Robotics Companies

By Rocket Drew · Jul 29, 2025 7:00am PDT

Imax on Monday announced that it would screen the winning films from Runway’s AI-generated film festival at some of its theaters. Netflix recently said it had used AI to generate a scene in one of its shows for the first time: a building collapsing in The Eternaut, an Argentine sci-fi show. Both announcements show that video-generating AI... Imax on Monday announced that it would screen the winning films from Runway’s AI-generated film...

Art via Mike Sullivan

How Cursor’s Global Success Is Lifted by China

By Juro Osawa and Qianer Liu · Jul 29, 2025 6:00am PDT

When a powerful typhoon battered Guangzhou earlier this month, hundreds of programmers in the southern Chinese city braved torrential rain and gusting wind to show up to an event they’d been waiting for: Cursor’s first meetup in the city. More than 300 people turned out to watch a pre-recorded video of Eric Zakariasson, a San... When a powerful typhoon battered Guangzhou earlier this month, hundreds of programmers in the...

Figma CEO Dylan Field. Photo via Flickr/TechCrunch

Figma’s IPO Looks to Be Set for Charmed Debut

By Martin Peers · Jul 28, 2025 5:00pm PDT

Figma CEO Dylan Field. Photo via Flickr/TechCrunch

Figma’s IPO Looks to Be Set for Charmed Debut

By Martin Peers · Jul 28, 2025 5:00pm PDT

Sometimes good things happen to nice guys. I’m talking about Dylan Field, one of the more grounded founder-CEOs you’re likely to meet in tech. His design software firm, Figma, looks to be sailing toward a very strong public debut in the next week. Figma on Monday raised the preliminary pricing range for its IPO to between $30 and $32 a share—... Sometimes good things happen to nice guys. I’m talking about Dylan Field, one of the more...

Fireworks AI CEO and co-founder, Lin Qiao. Photo via Getty

AI Cloud Startup Fireworks Discusses $4 Billion Valuation Deal With Lightspeed, Index

By Sri Muppidi · Jul 28, 2025 4:41pm PDT · 1 comment

Fireworks AI, part of a new class of cloud providers that rents out Nvidia chip servers to developers that use artificial intelligence models, is in talks to raise capital at a $4 billion valuation including the investment, more than seven times its valuation from a year ago, according to two people familiar with the fundraise. New investors... Fireworks AI, part of a new class of cloud providers that rents out Nvidia chip servers to...

Art by Mike Sullivan

Microsoft’s Rivals Lean on AI to Pry Away Longtime Customers

By Aaron Holmes · Jul 28, 2025 10:00am PDT

Artificial intelligence has suddenly made it cheaper and easier for companies to switch to new software providers, IT executives say. Now large AI providers such as Amazon, Microsoft, Salesforce and Palantir are scrambling to win over each other’s customers, who might previously have felt they were locked into using old apps because of the... Artificial intelligence has suddenly made it cheaper and easier for companies to switch to new...

Tesla Bot Optimus hands a child a tub of popcorn last week in LA. Photo via Getty

Why Hands Are a Handful for Tesla's Humanoid Robots

By Rocket Drew · Jul 28, 2025 7:00am PDT · 2 comments

On Friday, we reported on Tesla’s Optimus humanoid robot program, which may fall well short of Elon Musk’s ambitious goal to pump out 5,000 robots by the end of the year. It turns out the robots’ hands are among the big factors holding up production. In fact, some Optimus robots that are mostly complete have been sitting unused at a Tesla... On Friday, we reported on Tesla’s Optimus humanoid robot program, which may fall well short of ...

Figma IPO Set to Be a Windfall for Silicon Valley’s Biggest Names

By Cory Weinberg and Natasha Mascarenhas · Jul 28, 2025 6:00am PDT · 1 comment

Figma IPO Set to Be a Windfall for Silicon Valley’s Biggest Names

By Cory Weinberg and Natasha Mascarenhas · Jul 28, 2025 6:00am PDT · 1 comment

Silicon Valley royalty are set to be the big winners from Figma’s initial public offering this week. Former Meta and Google executive Sheryl Sandberg, former LinkedIn CEO Jeff Weiner, and venture capital firms Greylock Partners and Kleiner Perkins are all turning modest investments into windfalls ranging from tens of millions to more than $1... Silicon Valley royalty are set to be the big winners from Figma’s initial public offering this...

Amprius CEO Kang Sun. Photo: Courtesy Amprius

The Electric: A Battery CEO on Robots—'They Need a Lot of Power'

By Steve LeVine · Jul 28, 2025 4:30am PDT

Kang Sun is out to bust up a battery industry consensus. For years, battery startups have assumed that to succeed they needed to penetrate at least one of three big industries: electric vehicles, stationary storage or portable electronics.But Sun, CEO of silicon anode developer Amprius Technologies, notes that the pursuit of those industries... Kang Sun is out to bust up a battery industry consensus. For years, battery startups have assumed...

Art by Clark Miller; Image via Getty.

LeBron’s AI Blunder, Tech’s Fortunate Bet on Trump

By Abram Brown · Jul 26, 2025 7:00am PDT

Welcome, Weekenders! In this newsletter:• The Big Read: Sports execs’ favorite pastime? Venture capital• The Top 5: The best new startup accelerators • Plus, our Recommendations: “Autocracy in America,” “I Regret Almost Everything” and “Star Trek: Strange New Worlds” LeBron James would like the internet to behave itself. Of course, it won’... Welcome, Weekenders! In this newsletter:• The Big Read: Sports execs’ favorite pastime? Venture...

Art by Clark Miller

The Best New Startup Accelerators

By Alex Perry · Jul 26, 2025 6:00am PDT · 3 comments

Need a mentor to jolt your thinking—or need to lock yourself away from the world for 20 days? A whole new generation of startup accelerators has proliferated in recent years, each one promising to turbocharge a founder’s ambitions. Many of the best are from the most prominent names in Silicon Valley, including Sequoia Capital, Andreessen... Need a mentor to jolt your thinking—or need to lock yourself away from the world for 20...

Larry Ellison and David Ellison in 2013. Photo via Getty

Larry Ellison’s New Hollywood Drama Is About to Debut

By Martin Peers · Jul 25, 2025 4:00pm PDT

Larry Ellison and David Ellison in 2013. Photo via Getty

Larry Ellison’s New Hollywood Drama Is About to Debut

By Martin Peers · Jul 25, 2025 4:00pm PDT

Oracle chair Larry Ellison's power in American business is about to expand. The Federal Communications Commission’s approval on Thursday of Ellison-backed Skydance’s takeover of film and TV icon Paramount Global cleared the last major hurdle standing in the way of the $8 billion deal. It’s expected to close on Aug. 7, when Larry Ellison’s son... Oracle chair Larry Ellison's power in American business is about to expand. The Federal...

Image via Getty.

Ramp in Talks to Raise at $21 Billion Valuation, Up 30% From June Financing

By Natasha Mascarenhas, Cory Weinberg and Amir Efrati · Jul 25, 2025 3:50pm PDT

Ramp, a six-year-old corporate card and expense management startup, is in discussions with investors to raise $350 million at a valuation of about $21 billion with the investment, according to three people with direct knowledge of the fundraising, just a month after raising at a $16 billion valuation. Existing investor Iconiq is in talks to lead... Ramp, a six-year-old corporate card and expense management startup, is in discussions with...

Art by Clark Miller

Sports Leagues Hunt for Startup Investments in a Chummy Style of Venture Capital

By Sara Germano · Jul 25, 2025 9:04am PDT

A couple weeks ago, LeBron James was in Las Vegas, seated courtside at the Thomas and Mack Center to watch his team, the Los Angeles Lakers, scrimmage against their crosstown rivals, the Clippers. The game was a highlight of the NBA’s annual off-season Summer League tournament, where rookies and rising stars—like James’ son,... A couple weeks ago, LeBron James was in Las Vegas, seated courtside at the Thomas and Mack Center...

Photo via Getty

OpenAI’s GPT-5 Shines in Coding Tasks

By Stephanie Palazzolo · Jul 25, 2025 7:00am PDT

GPT-5 is almost here, and we’re hearing good things. The early reaction from at least one person who’s used the unreleased version was extremely positive.That’s good news for OpenAI. The ChatGPT creator has been under pressure to show major gains from its next big artificial intelligence model since we first broke the news last November that it... GPT-5 is almost here, and we’re hearing good things. The early reaction from at least one person...

Photo via Getty

Inside Tesla’s Secretive Optimus Robot Program

By Theo Wayt and Rocket Drew · Jul 25, 2025 6:00am PDT · 7 comments

Photo via Getty

Inside Tesla’s Secretive Optimus Robot Program

By Theo Wayt and Rocket Drew · Jul 25, 2025 6:00am PDT · 7 comments

Elon Musk says humanoid robots will be the future of Tesla. The company has a long way to go. Tesla is well behind the pace necessary to meet Musk’s publicly stated goal of producing at least 5,000 of its Optimus humanoid robots this year, according to two people with knowledge of the program. So far, the number of robots it has made is in the... Elon Musk says humanoid robots will be the future of Tesla. The company has a long way to go. ...

Alphabet CEO Sundar Pichai. Photo via Getty

Why Google Should Combine Gemini and the Search Bar

By Martin Peers · Jul 24, 2025 5:00pm PDT

Here’s a question: If Google was started today, would it have a search bar on its website separate from its artificial intelligence chatbot, Gemini? I asked Gemini that question earlier today, and the chatbot thought that was “extremely unlikely” and that a “unified interface would be the almost certain choice.” As Gemini said, “the fundamental... Here’s a question: If Google was started today, would it have a search bar on its website...

Photo via Getty

Creator Economy

TikTok’s Canada Problem

By Kaya Yurieff · Jul 24, 2025 2:00pm PDT

As TikTok’s future in the U.S. continues to be in limbo, the company is trying to quell a different regulatory threat north of the border.In November, the Canadian government told TikTok to wind down its operations in the country due to national security concerns, but curiously has allowed the app to remain available to the 14 million users in... As TikTok’s future in the U.S. continues to be in limbo, the company is trying to quell a...

Art by Clark Miller; Gil screenshot via YouTube.

Elad Gil Plots $1.5 Billion Fund, Stretching Definition of a Solo GP

By Natasha Mascarenhas · Jul 24, 2025 12:23pm PDT · 1 comment

Venture capital firms are under pressure to make rapid-fire decisions about big checks in the frenzied world of artificial intelligence investing, straining partnerships that need a unified front. It helps sometimes to have just one decision-maker.That makes a case for Elad Gil, a prolific investor who made early investments in Perplexity,... Venture capital firms are under pressure to make rapid-fire decisions about big checks in the...

Photo by Getty

AWS Took its Time Disclosing Security Flaw in AI Coding Tool

By Kevin McLaughlin · Jul 24, 2025 11:19am PDT · 1 comment

Photo by Getty

AWS Took its Time Disclosing Security Flaw in AI Coding Tool

By Kevin McLaughlin · Jul 24, 2025 11:19am PDT · 1 comment

While artificial intelligence-powered coding is jet fuel for developer productivity, a string of incidents in recent months shows why customers should tread carefully in this version of the Wild West. In the latest worrisome development, a hacker recently found a way to upload malicious code to an Amazon Web Services’ AI coding assistant, Q... While artificial intelligence-powered coding is jet fuel for developer productivity, a string of...