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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StubHub’s IPO Miss

By Martin Peers · Sep 17, 2025 5:00pm PDT · 1 comment

Note to private tech CEOs: The IPO market may look like it’s rocking but looks can be deceiving. If your company isn’t growing fast, and/or has a lot of debt, and doesn’t have either a crypto or AI angle, don’t expect a crush of demand. Check out StubHub, which fails on all the counts I just mentioned. Its stock tanked on its opening day as a... Note to private tech CEOs: The IPO market may look like it’s rocking but looks can be deceiving....

An Axon body camera on a police officer. Photo via Getty

Axon in Advanced Talks to Buy Emergency Response Startup for $800 Million

By Katie Roof · Sep 17, 2025 4:37pm PDT · 1 comment

Axon Enterprise, a maker of police body cameras and Taser electroshock devices, is in advanced talks to buy Prepared, a startup that sells software to emergency responders, including an artificial intelligence tool that summarizes real-time transcripts of 911 calls, according to a person involved in the deal. The companies are discussing a deal... Axon Enterprise, a maker of police body cameras and Taser electroshock devices, is in advanced...

From left: Adam Presser, Donald Trump, Xi Jinping and Shou Chew. Photos via Getty

What We Do and Don’t Know About the TikTok Deal

By Sylvia Varnham O'Regan · Sep 17, 2025 11:44am PDT · 4 comments

The long-awaited sale of TikTok’s U.S. business appears headed to a final resolution this week after China and the U.S. agreed to the framework for a deal during trade talks in Spain. A Chinese government official confirmed that China has agreed to let TikTok’s parent, ByteDance, license the TikTok algorithm—which dictates what users see... The long-awaited sale of TikTok’s U.S. business appears headed to a final resolution this week...

Art by Clark Miller.

Breaking Up Google Won’t Fix the Ad Market. Here’s What To Do Instead

By Bill Ready · Sep 17, 2025 10:08am PDT

Art by Clark Miller.

Breaking Up Google Won’t Fix the Ad Market. Here’s What To Do Instead

By Bill Ready · Sep 17, 2025 10:08am PDT

Earlier this month, a federal court issued its remedies for the Department of Justice’s case against Google Search. However, there’s another equally consequential remedies decision before the court that could reshape the integrity of the open web and the future of digital publishing. In this case, the court has already ruled that Google... Earlier this month, a federal court issued its remedies for the Department of Justice’s case...

Deep Research Report: AI 2026 Predictions

By The Information Staff · Sep 17, 2025 10:08am PDT · 3 comments

Businesses are evaluating a growing list of AI products aimed at specific uses. We asked our Deep Research tool, “What are the biggest applied artificial intelligence themes for the coming 12 months?”, and received the following answer. Businesses are evaluating a growing list of AI products aimed at specific uses. We asked our Deep...

Art by Clark Miller

OpenAI’s Models Are Getting Too Smart For Their Human Teachers

By Stephanie Palazzolo · Sep 17, 2025 7:00am PDT

In the fight to improve AI models, Anthropic and OpenAI have doubled down on two methods: letting models train on fake clones of apps—otherwise known as reinforcement learning environments or gyms—and getting experts in various fields to teach models new things, as I reported in this Tuesday story.One problem is emerging, though: It’s getting a... In the fight to improve AI models, Anthropic and OpenAI have doubled down on two methods: letting...

Art by Clark Miller

IPOs Roar Back, Injecting Cash Into Venture Firms

By Katie Roof · Sep 17, 2025 6:21am PDT · 1 comment

September is on track for six venture-backed tech listings, the most since November 2021. The rising number of IPOs means venture funds can start returning more cash to the limited partners that back them, relieving one of the strains that had held back VC fundraising over the last few years. Nearly all of September’s listings are from companies... September is on track for six venture-backed tech listings, the most since November 2021. The...

Image via Getty

Why TikTok America’s Growth Could Surge

By Martin Peers · Sep 16, 2025 5:00pm PDT

Image via Getty

Why TikTok America’s Growth Could Surge

By Martin Peers · Sep 16, 2025 5:00pm PDT

Our long international nightmare may soon be over. Both China and the U.S. seem to be in agreement about the terms under which TikTok U.S. will be sold to a new company majority-owned by Americans, judging by a statement overnight from a Chinese government official. We don’t know the details, including the full investor lineup in the new TikTok,... Our long international nightmare may soon be over. Both China and the U.S. seem to be in...

Microsoft CEO Satya Nadella and OpenAI CEO Sam Altman Images via Getty

Who Will Own the New OpenAI, in One Chart

By Sri Muppidi · Sep 16, 2025 2:45pm PDT

One question has loomed over OpenAI investors for years: How would they generate a return on their investment? The ChatGPT maker is a nonprofit that capped the potential returns of early backers in its for-profit arm, such as Khosla Ventures and Microsoft, and would prevent the newer investors including Thrive Capital and SoftBank from reaping... One question has loomed over OpenAI investors for years: How would they generate a return on...

Marc Benioff, left, and Satya Nadella. Photos via Getty

Salesforce, Microsoft Find Selling AI to Enterprises Is Easier Said Than Done

By Aaron Holmes and Kevin McLaughlin · Sep 16, 2025 10:30am PDT · 1 comment

As new artificial intelligence flooded the software market over the past few years, CEOs of incumbents such as Salesforce and Microsoft said they were in pole position to capitalize on the wave.They already have relationships with the largest companies in the world, which rely on their apps as systems of record, meaning they use them to hold... As new artificial intelligence flooded the software market over the past few years, CEOs of...

Art via Mike Sullivan

How Anthropic and OpenAI Are Developing AI ‘Co-Workers’

By Stephanie Palazzolo · Sep 16, 2025 10:01am PDT · 2 comments

Anthropic, OpenAI and other artificial intelligence developers are sending large language models to the office. The AI models are being taught how to use everything from Salesforce’s customer relationship management software to Zendesk’s customer support and Cerner’s health records apps. The idea is to teach AI how to handle some of the... Anthropic, OpenAI and other artificial intelligence developers are sending large language models...

Art by Clark Miller

Help The Information Find Its New AI Columnist

By Abram Brown · Sep 16, 2025 8:00am PDT · 3 comments

Art by Clark Miller

Help The Information Find Its New AI Columnist

By Abram Brown · Sep 16, 2025 8:00am PDT · 3 comments

Artificial intelligence has already altered wide swaths of our world. As for the parts that it hasn’t changed—well, it sorta seems inevitable that the technology will reorder them, too. The Information’s Weekend section wants to add a columnist who will explore and explain this disruption. They should have a wide interest in the technology... Artificial intelligence has already altered wide swaths of our world. As for the parts that it...

Art via Getty

The Secrets OpenAI Revealed About ChatGPT

By Stephanie Palazzolo and Aaron Holmes · Sep 16, 2025 7:00am PDT

Public interest in ChatGPT's impact on society is rising fast, especially given recent high-profile lawsuits filed by family members of people who used the chatbot before taking their own life. On Monday, OpenAI opened the chabot's kimono a little bit, with a new study showing exactly how users are using ChatGPT. Notably, non-work... Public interest in ChatGPT's impact on society is rising fast, especially given recent...

CEO of Apollo Marc Rowan, left, and KKR partner Waldemar Szlezak. Images via Getty; YouTube.

Insurance Money Is Latest Funding Source for AI Developers

By Miles Kruppa · Sep 16, 2025 6:00am PDT · 1 comment

Wall Street is turning to life insurance capital to meet artificial intelligence’s insatiable funding needs, melding the AI boom with a fast growing source of assets for the biggest private equity firms. Apollo Global Management, one of the largest asset managers, recently bought Texas-based Stream Data Centers, which is targeting the big cloud... Wall Street is turning to life insurance capital to meet artificial intelligence’s insatiable...

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On Quarterly Earnings, Trump Has a Point

By Martin Peers · Sep 15, 2025 5:00pm PDT

Imagine a world where companies report earnings only twice a year, instead of every quarter. As John Lennon put it, “you may say I’m a dreamer, but I’m not the only one.” Donald Trump reminded us on Monday that he is a big proponent of switching to a half-yearly corporate reporting cadence, away from the quarterly one. His pitch is that doing so... Imagine a world where companies report earnings only twice a year, instead of every quarter. As...

Art by Clark Miller; photos from Getty Images.

Microsoft Hopes Hastened AI Rollout, Price Discounts Can Fuel Office 365 Growth

By Aaron Holmes · Sep 15, 2025 10:04am PDT · 2 comments

Art by Clark Miller; photos from Getty Images.

Artificial Intelligence

Microsoft Hopes Hastened AI Rollout, Price Discounts Can Fuel Office 365 Growth

By Aaron Holmes · Sep 15, 2025 10:04am PDT · 2 comments

On paper, Informatica, a Redwood City-based cloud software firm with 5,000 white collar employees, is exactly the type of company that should be gung-ho to pay up and buy Microsoft 365 Copilot, the version of the company’s flagship Office software that comes with artificial intelligence features. And more than a year ago, Informatica did test... On paper, Informatica, a Redwood City-based cloud software firm with 5,000 white collar...

Here you go! Art via Getty

Everyone Wants To Be a Reinforcement Learning Startup

By Stephanie Palazzolo · Sep 15, 2025 7:00am PDT

These days, artificial intelligence developers, investors and founders are all obsessed with “reinforcement learning,” a method for improving AI by rewarding it for accomplishing certain goals and penalizing it for other behaviors.Investors tell me that they’re getting pitched on dozens of RL-related startups per week, ranging from those ... These days, artificial intelligence developers, investors and founders are all obsessed with “...

Salesforce CEO Marc Benioff via Getty. Art via Clark Miller

Marc Benioff Said AI Was Easy. A Team at Salesforce Proved Him Wrong

By Kevin McLaughlin · Sep 15, 2025 6:00am PDT · 2 comments

Salesforce CEO Marc Benioff was upset. Last fall, one of his technical teams told large Salesforce customers that using Agentforce, the software firm’s new artificial intelligence for automating customer service and other functions, would require extensive planning. The product information the Salesforce team shared with those customers... Salesforce CEO Marc Benioff was upset. Last fall, one of his technical teams told large...

CATL's Lingbo Zhu announces the Shenxing Pro last week in Munich. Photo: Courtesy CATL

Exclusive From The Electric: How China's CATL Keeps Trouncing Its Battery Rivals

By Steve LeVine · Sep 15, 2025 4:30am PDT

Lingbo Zhu was scribbling on a sheet of paper last week, sketching out a lineup of batteries that no other company could match. Zhu is international chief technology officer of China’s Contemporary Amperex Technology Ltd., the world’s largest battery maker, which took another leap forward last week. Lingbo Zhu was scribbling on a sheet of paper last week, sketching out a lineup of batteries that...

Perplexity CEO Aravind Srinivas. Photo via Getty

Perplexity’s Commerce and Ads Experiments Are Stuck in Neutral

By Catherine Perloff and Ann Gehan · Sep 14, 2025 12:00pm PDT · 2 comments

Perplexity CEO Aravind Srinivas. Photo via Getty

Perplexity’s Commerce and Ads Experiments Are Stuck in Neutral

By Catherine Perloff and Ann Gehan · Sep 14, 2025 12:00pm PDT · 2 comments

Perplexity has drawn plenty of its headlines for its relentless fundraising—which recently valued the artificial intelligence search firm at $20 billion—and its penchant for declaring big-ticket acquisition targets like TikTok. But its efforts to build businesses in online shopping and advertising, which would put Perplexity’s... Perplexity has drawn plenty of its headlines for its relentless fundraising—which recently...