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

Satya Nadella on stage at Microsoft Build 2025. Photo via Getty

Can AI Really Replace Human Developers?

By Aaron Holmes · May 22, 2025 10:00am PDT · 1 comment

I’m in Seattle this week for Microsoft’s annual Build conference, where the software behemoth has announced a slate of new artificial intelligence–infused products meant to get developers to build and purchase AI agents from Microsoft’s Azure cloud.Specifically, Microsoft is leaning into the idea of advanced AI chatbots that are capable of... I’m in Seattle this week for Microsoft’s annual Build conference, where the software behemoth has...

Art by Clark Miller; Abilene image via Getty.

JPMorgan to Lend More Than $7 Billion For OpenAI Data Center

By Anissa Gardizy · May 22, 2025 8:02am PDT

JPMorgan Chase has agreed to lend more than $7 billion to the firms building OpenAI’s giant artificial intelligence data center campus in Abilene, Tex., according to two people with direct knowledge of the deal. The deal with JPMorgan, which has not been previously reported, reflects continued interest from lenders and investors in backing the... JPMorgan Chase has agreed to lend more than $7 billion to the firms building OpenAI’s giant...

Jony Ive, left, and Sam Altman. Photos by Getty

The Coming Culture Clash for Jony Ive’s Io and OpenAI

By Stephanie Palazzolo · May 22, 2025 7:00am PDT

OpenAI’s been on a shopping spree.First, a $3 billion bid for Windsurf, the maker of a popular AI coding assistant formerly known as Codeium. And now, a whopping $6.5 billion acquisition of io, the AI device startup OpenAI CEO Sam Altman and former Apple design chief Jony Ive have been working on for a couple of years.That second deal shouldn’t... OpenAI’s been on a shopping spree.First, a $3 billion bid for Windsurf, the maker of a popular AI...

Startup Employee Stock Sales Set to Surge With IPOs Uncertain

By Natasha Mascarenhas · May 22, 2025 6:00am PDT · 1 comment

Startup Employee Stock Sales Set to Surge With IPOs Uncertain

By Natasha Mascarenhas · May 22, 2025 6:00am PDT · 1 comment

Last year, startup employees and early investors sold billions of their shares to other investors in private transactions—more than the amount raised by tech public offerings. With the public markets choppy, keeping initial public offerings at a minimum, that dynamic is expected to repeat this year. Defense startup Anduril, which arranged... Last year, startup employees and early investors sold billions of their shares to other investors...

Jony Ive and Sam Altman. Photo via OpenAI

What OpenAI’s Jony Ive Deal Means For Altman—And Apple

By Martin Peers · May 21, 2025 5:00pm PDT

Sam Altman seems to be trying to set a new world record for creating a vertically integrated tech company in as little time as possible. The deal he and former Apple design chief Jony Ive announced Wednesday, under which OpenAI will buy Ive’s AI hardware startup io at a valuation of $6.5 billion, is striking on a number of levels. And not just... Sam Altman seems to be trying to set a new world record for creating a vertically integrated tech...

Art by Mike Sullivan

Nike to Sell on Amazon for First Time Since 2019

By Theo Wayt and Sara Germano · May 21, 2025 2:15pm PDT · 1 comment

Six years after Nike stopped selling through Amazon in favor of going direct to customers through its own stores and website, the two companies are getting back together. Amazon plans to start selling Nike products with supplies coming directly from the company, an Amazon spokesperson confirmed on Wednesday. Winning back one of the world’s... Six years after Nike stopped selling through Amazon in favor of going direct to customers through...

The Italian Embassy in Washington. Photo via Flickr

Creator Economy

Why the Italian Embassy Wants to Work With Creators

By Kaya Yurieff · May 21, 2025 2:00pm PDT

I spent Tuesday evening at the Italian Embassy in Washington, where I moderated a discussion about the growth of the creator economy and how governments should be thinking about working with influencers. The convergence of politics and creators has been building slowly over time. Case in point: 10 years ago, Michelle Obama invited Vine... I spent Tuesday evening at the Italian Embassy in Washington, where I moderated a discussion...

Sundar Pichai on stage at Google I/O. Photo by Getty

Google Gets Its Act Together

By Stephanie Palazzolo and Erin Woo · May 21, 2025 7:00am PDT

Sundar Pichai on stage at Google I/O. Photo by Getty

Google Gets Its Act Together

By Stephanie Palazzolo and Erin Woo · May 21, 2025 7:00am PDT

Google seems to have finally learned its lesson about announcing products that aren’t yet ready for release to the public. At its annual I/O developer conference on Tuesday, the company launched a flurry of products, many of which—including its chatbot-style search tab AI Mode, its new Veo video model and its coding assistant Jules—were... Google seems to have finally learned its lesson about announcing products that aren’t yet ready...

Art by Clark Miller.

Banks Are Shifting Quickly to Crypto as New Rules Loom

By Yueqi Yang · May 21, 2025 6:00am PDT · 1 comment

Banks are racing to embrace cryptocurrencies, triggered by pending legislation in Washington that could set off the biggest shift toward crypto yet in the traditional financial system. Banks and the companies whose technology underpins much of the finance industry say the shift could become clear as soon as this summer, when banks’ business... Banks are racing to embrace cryptocurrencies, triggered by pending legislation in Washington that...

Google Challenges Meta With Smarter Glasses

By Martin Peers · May 20, 2025 5:00pm PDT

With its Ray-Ban smart glasses, Meta Platforms has had the high-tech eyewear market pretty much to itself. But Google’s unveiling on Tuesday of its own glasses, using software developed with Samsung and to be made in conjunction with Warby Parker and Gentle Monster, an edgy Korean eyewear brand, signals there’s a new kid on this block. Now all... With its Ray-Ban smart glasses, Meta Platforms has had the high-tech eyewear market pretty much...

Sand Hill Road in Menlo Park, Calif. Photo via Getty

The Hot New Job in VC: Portfolio Pruner

By Cory Weinberg · May 20, 2025 3:30pm PDT

All the glory within venture capital firms goes to dealmakers who find the next big investments. But a new group that also focuses on selling rather than just buying is now playing a crucial role in the firms as they struggle to return cash to their clients. Former bankers or private equity investors at large VC firms such as New Enterprise... All the glory within venture capital firms goes to dealmakers who find the next big investments....

Photo via Shutterstock

The Startup Helping TV Shows Act Like Creators

By Catherine Perloff · May 20, 2025 3:15pm PDT

Photo via Shutterstock

Creator Economy

The Startup Helping TV Shows Act Like Creators

By Catherine Perloff · May 20, 2025 3:15pm PDT

Creators have been cashing in on the ecommerce boom for at least a decade, by recommending links to products and taking a cut of any resulting purchase. It’s been harder for TV firms to take advantage. Shopsense AI, a startup founded early last year by former Amazon and Klarna executives, is trying to change that. The company has been... Creators have been cashing in on the ecommerce boom for at least a decade, by recommending links...

A doctor uses the Abridge listening and transcription app while meeting with a patient. Photo via Getty.

Abridge in Talks to Raise at $5 Billion Valuation as AI Health Startups Draw Investors

By Stephanie Palazzolo, Natasha Mascarenhas and Sri Muppidi · May 20, 2025 3:01pm PDT

Abridge, a seven-year-old startup that sells artificial intelligence software for transcribing physicians’ conversations with patients, is in discussions with investors to raise hundreds of millions of dollars at around a $5 billion valuation before the investment, according to two people with knowledge of the plans. The funding would nearly... Abridge, a seven-year-old startup that sells artificial intelligence software for transcribing...

Google CEO Sundar Pichai on Tuesday at Google I/O. Photo by Getty

Google Unveils New AI Features to Help Defend Its Search Business

By Erin Woo and Ann Gehan · May 20, 2025 1:17pm PDT

Google on Tuesday unveiled a partnership with Warby Parker to introduce smart glasses, posing a major threat to Meta Platforms’ market lead in smart glasses. The glasses were among a slew of new products and features announced at its I/O developer conference on Tuesday. Much of Tuesday’s presentation showed how Google is moving ahead on... Google on Tuesday unveiled a partnership with Warby Parker to introduce smart glasses, posing a...

Photo via Shutterstock

Why Databricks Is Paying for an AI Sales Coach

By Jon Victor · May 20, 2025 10:16am PDT

Microsoft, Salesforce and numerous startups have talked up the idea of an artificial intelligence–powered coach that gives feedback to salespeople about their pitches to customers. Databricks is one of the few companies to actually use such a product at scale. Earlier this year, the data-analysis software provider gave 1,000 employees in... Microsoft, Salesforce and numerous startups have talked up the idea of an artificial intelligence...

Elon Musk. Photo via Getty

XAI Moves Closer to Starting an Enterprise and Government Business

By Kevin McLaughlin and Stephanie Palazzolo · May 20, 2025 7:00am PDT

Elon Musk. Photo via Getty

XAI Moves Closer to Starting an Enterprise and Government Business

By Kevin McLaughlin and Stephanie Palazzolo · May 20, 2025 7:00am PDT

How Elon Musk’s xAI plans to make money is one of the big questions in the AI world right now. Musk hasn’t said much and even investors in the company don’t seem to know many details, given the vague statements they made when asked about it at our Financing the AI Revolution conference last month. We have one answer: XAI plans to use... How Elon Musk’s xAI plans to make money is one of the big questions in the AI world right now....

An Amazon Fulfillment center in New Jersey. Photo via Getty.

Amazon Caps Warehouse Inventory Amid Tariff Turmoil

By Theo Wayt · May 20, 2025 6:00am PDT

For many merchants selling on Amazon, a 90-day pause in steep U.S. tariffs on China should be a chance to stockpile inventory. But Amazon has already grown cautious about letting goods pile up in its warehouses, as it tries to keep its massive logistics and commerce business running efficiently amid trade turmoil. In recent weeks, Amazon told... For many merchants selling on Amazon, a 90-day pause in steep U.S. tariffs on China should be a...

Satya Nadella returns to the stage after a pre-recorded interview with Elon Musk at the Microsoft Build conference. Photo via Getty.

What We Learned About xAI’s Grok From Microsoft Build

By Martin Peers · May 19, 2025 5:00pm PDT

Uh-oh. We’re in conference hell, one of those periods of the year when tech companies try to seize control of the news cycle with a seemingly never-ending stream of product announcements (many incomprehensible to ordinary folks) and/or partnership deals. Today Microsoft kicked off its Build developer conference (not to be confused with its... Uh-oh. We’re in conference hell, one of those periods of the year when tech companies try to...

Photo via Getty

What’s Helping Perplexity’s 60% Gross Profit Margin

By Laura Mandaro and Sri Muppidi · May 19, 2025 7:31am PDT

Earlier today we published a deep dive on Perplexity’s financials. The three-year-old startup’s AI powered search engine has made it one of the most highly valued and fastest growing AI startups. Supporting that growth is expensive. As a sign of its growing popularity, the number of questions people have asked the search engine increased... Earlier today we published a deep dive on Perplexity’s financials. The three-year-old startup’s...

Aravind Srinivas, co-founder and CEO of Perplexity. Photo via Getty

For Google Challenger Perplexity, Growth Comes at a High Cost

By Sri Muppidi · May 19, 2025 6:00am PDT · 14 comments

Aravind Srinivas, co-founder and CEO of Perplexity. Photo via Getty

For Google Challenger Perplexity, Growth Comes at a High Cost

By Sri Muppidi · May 19, 2025 6:00am PDT · 14 comments

Artificial intelligence–powered search engine Perplexity has rapidly increased its subscription revenue and users in the past year, despite tough competition from the free AI search tools of Google and OpenAI. Previously unreported financials show the cost of that growth. Perplexity generated $34 million in revenue last year. But it burned... Artificial intelligence–powered search engine Perplexity has rapidly increased its...