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

Elon Musk at today's annual Tesla shareholder meeting. YouTube/Tesla.

Elon Musk's Victory

By Theo Wayt · Nov 6, 2025 5:00pm PST

We’ve finally learned the result of a controversial, long-awaited vote that’s generated reams of punditry and put Wall Street on edge. No, I’m not talking about the mayoral election in New York City—I’m talking about the Tesla shareholder vote on Elon Musk’s gigantic compensation package. Musk won with over 75% of the vote, Tesla said at... We’ve finally learned the result of a controversial, long-awaited vote that’s generated reams of...

Photo by Getty

AI Stokes Battles for Series A; Altimeter to Raise New Growth Fund

By Natasha Mascarenhas · Nov 6, 2025 1:43pm PST

I’ve been hearing a lot about how intense competition is for Series A investments lately. Investors that typically look to invest in more mature startups, say at the Series B or above rounds, are crowding into Series A rounds for fear of missing the next major winner.Like much else these days, artificial intelligence gets the credit (or blame)... I’ve been hearing a lot about how intense competition is for Series A investments lately....

Trase Systems President Baskar Sridharan. Photo courtesy of Trase Systems

Agents Learn to Haggle Prices with Software Vendors

By Aaron Holmes and Kevin McLaughlin · Nov 6, 2025 10:42am PST

While artificial intelligence agents continue to generate mixed results, depending on how much assistance customers get from their AI vendors, some of them have gained a new skill: negotiating software contracts.Over the past year, data management startup Cribl has been using an AI agent from procurement software startup Zip that reads Cribl’s... While artificial intelligence agents continue to generate mixed results, depending on how much...

Ion Stoica. YouTube/Opaque Systems

Why OpenAI CFO Said Uncle Sam Should Backstop Chip Financing; Databricks Co-Founder Responds to Benchmark Critics

By Rocket Drew and Amir Efrati · Nov 6, 2025 7:00am PST

Ion Stoica. YouTube/Opaque Systems

Why OpenAI CFO Said Uncle Sam Should Backstop Chip Financing; Databricks Co-Founder Responds to Benchmark Critics

By Rocket Drew and Amir Efrati · Nov 6, 2025 7:00am PST

It’s not every day one of the world’s most valuable companies asks the U.S. government for assistance, but these aren’t ordinary days. On Wednesday, OpenAI CFO Sarah Friar suggested at a Wall Street Journal event that the federal government ought to guarantee the financing of AI chips. Come again?“We’re looking for an ecosystem of banks,... It’s not every day one of the world’s most valuable companies asks the U.S. government for...

Tom Vice, the former CEO of Sierra Space, speaks in front of the company's Dream Chaser space plane in 2023. Getty Images

Sierra Space Is Raising Cash in Pivot to Defense

By Cory Weinberg · Nov 6, 2025 6:00am PST

Sierra Space reached for the stars but never got off the ground. The privately held company burned through much of the $1.7 billion it raised in large part to build a space plane for NASA called Dream Chaser that has never flown into orbit. Now Sierra is seeking about $300 million in fresh funding to pivot from primarily building a space shuttle... Sierra Space reached for the stars but never got off the ground. The privately held company...

Heron CEO Drew Baglino, left, with Elon Musk. Photo: Courtesy Tesla

The Electric: Tesla Veteran Seeks to Tackle the Problem of Powering Data Centers

By Steve LeVine · Nov 6, 2025 4:30am PST

Drew Baglino spent 18 years as a key engineer at Tesla, most recently as Elon Musk’s right-hand man. Now chief executive of his own company, Baglino is trying to upend the business of powering data centers, much the way Tesla brought new technology to the auto industry. Drew Baglino spent 18 years as a key engineer at Tesla, most recently as Elon Musk’s right-hand...

Tony Xu, CEO of DoorDash. Getty Images

DoorDash’s Investment Plans Unnerve Wall Street

By Martin Peers · Nov 5, 2025 5:00pm PST · 2 comments

Wall Street is getting jittery about corporate investment. DoorDash stock slumped as much as 20% in after-hours trading after the food-delivery service revealed it expects to “invest several hundred million dollars more” in upgrading its technology and expansion next year than it did this year. Given that DoorDash generates a couple of billion... Wall Street is getting jittery about corporate investment. DoorDash stock slumped as much as 20%...

Decagon CEO and co-founder Jesse Zhang. YouTube/Startup Grind.

Customer Support AI Startup Decagon in Talks to Raise at $4 Billion Valuation

By Stephanie Palazzolo and Natasha Mascarenhas · Nov 5, 2025 1:21pm PST · 1 comment

Decagon CEO and co-founder Jesse Zhang. YouTube/Startup Grind.

Customer Support AI Startup Decagon in Talks to Raise at $4 Billion Valuation

By Stephanie Palazzolo and Natasha Mascarenhas · Nov 5, 2025 1:21pm PST · 1 comment

Decagon, which develops AI for automating customer service, is discussing raising equity funding from new investors at a valuation of $4 billion to $5 billion, according to two people with direct knowledge of the deal. The discussions come just five months after the company announced financing at a $1.5 billion valuation. The deal discussions... Decagon, which develops AI for automating customer service, is discussing raising equity funding...

Crusoe CEO Chase Lochmiller. Photo via Getty

OpenAI’s Data Center Partner Nears $120 Million Stock Sale For Its Employees

By Anissa Gardizy, Natasha Mascarenhas and Sri Muppidi · Nov 5, 2025 11:28am PST

Crusoe, a startup developing a large data center in Texas for Oracle and OpenAI, is arranging an employee share sale that values the seven-year-old firm at around $13 billion, according to two people with knowledge of the transaction. The deal involves selling around $120 million worth of employee shares and would value them at a 30% premium to... Crusoe, a startup developing a large data center in Texas for Oracle and OpenAI, is arranging an...

Image via Getty Images

How Anthropic’s Claude Code Helped Brex Write 80% of a New Codebase

By Stephanie Palazzolo · Nov 5, 2025 7:00am PST

Coding and financial services are two of the most common domains that people cite when I ask about the most promising applications of artificial intelligence. Now we have an example that combines both of them.Wednesday morning, corporate card issuer Brex announced a series of new “agentic” products, powered by Anthropic’s Claude models, that aim... Coding and financial services are two of the most common domains that people cite when I ask...

Getty Images

OpenAI’s Commerce and Apps Efforts Divide Consumer Firms

By Ann Gehan and Catherine Perloff · Nov 5, 2025 6:00am PST

In October, Thumbtack, a firm that helps people book home services professionals, agreed to make its app available through ChatGPT, as have a number of commerce firms eager to reach the chatbot’s 800 million weekly users. But Marco Zappacosta, Thumbtack’s CEO, isn’t worried that ChatGPT will replace his own app. “Booking a car on Uber is... In October, Thumbtack, a firm that helps people book home services professionals, agreed to make...

Perplexity CEO Aravind Srinivas and Amazon CEO Andy Jassy. Getty Images

Perplexity Takes On Amazon

By Martin Peers · Nov 4, 2025 5:00pm PST

Perplexity CEO Aravind Srinivas and Amazon CEO Andy Jassy. Getty Images

Perplexity Takes On Amazon

By Martin Peers · Nov 4, 2025 5:00pm PST

Cue the violins. Perplexity on Tuesday accused Amazon of bullying it by demanding that the AI startup no longer allow its users to send their AI assistants to Amazon to buy stuff. The startup, which is an expert at public relations theatrics, published a long blog post entitled “Bullying Is Not Innovation,” in which it claimed to be “fighting... Cue the violins. Perplexity on Tuesday accused Amazon of bullying it by demanding that the AI...

Natasha Mascarenhas, Nina Achadjian and Leigh Marie Braswell at The Information's WTF Summit in October 2025. Photo by Erin Beach.

Four Venture Capitalists on How AI Has Disrupted Dealmaking

By Natasha Mascarenhas · Nov 4, 2025 2:02pm PST

Before we get into today’s column, some breaking news: Roelof Botha, who has held the top role at Sequoia Capital for three years, announced he was handing the reins to two partners, Alfred Lin and Pat Grady. Botha, 52, took over Sequoia in 2022 just as tech stocks were plunging and VC firms including Sequoia were mopping up the excesses of... Before we get into today’s column, some breaking news: Roelof Botha, who has held the top role at...

Sridar Ramaswamy. Photo by Getty Images

When Good AI Isn’t Good Enough; Snowflake’s AI Agents Arrive

By Aaron Holmes and Amir Efrati · Nov 4, 2025 10:30am PST

Talking to business leaders about AI these days can often feel paradoxical. On one hand, AI is becoming a steady part of company software budgets, especially productivity tools like chatbots and AI coding software that individual employees use. On the other hand, there’s a persistent frustration that AI isn’t living up to the hype when it... Talking to business leaders about AI these days can often feel paradoxical. On one hand, AI...

Art by Mike Sullivan; Shutterstock

The Information 50

The Information 50’s Top Performers From 2024

By Valida Pau · Nov 4, 2025 9:06am PST

Two of the biggest winners from last year’s list of The Information’s 50 Most Promising Startups proved again that huge gains can come from surprising places. A year ago the term vibe coding didn’t exist. Now Anysphere, whose Cursor coding assistant is in the middle of the movement and was our top AI app pick, is a blockbuster. Among the... Two of the biggest winners from last year’s list of The Information’s 50 Most Promising Startups...

Dario Amodei. Photo by Getty Images

The Information’s Most Promising AI Startups; Positive Cash Flow Seems In Sight For Anthropic

By Stephanie Palazzolo, Laura Mandaro and Rocket Drew · Nov 4, 2025 7:00am PST

Dario Amodei. Photo by Getty Images

The Information’s Most Promising AI Startups; Positive Cash Flow Seems In Sight For Anthropic

By Stephanie Palazzolo, Laura Mandaro and Rocket Drew · Nov 4, 2025 7:00am PST

I’d recommend you check out our annual list of the most promising startups, which we published this morning and includes companies across artificial intelligence, consumer, cybersecurity, crypto and more.Each year, it gets harder and harder to come up with our final list of AI applications and infrastructure startups. Part of that is due to the... I’d recommend you check out our annual list of the most promising startups, which we published...

Anthropic CEO Dario Amodei. Getty Images.

Anthropic Projects $70 Billion in Revenue, $17 Billion in Cash Flow in 2028

By Sri Muppidi · Nov 4, 2025 6:30am PST · 2 comments

Anthropic this summer hiked its most optimistic growth forecasts by roughly 13% to 28% over the next three years and projected generating as much as $70 billion in revenue in 2028, up from close to $5 billion this year, according to a person with knowledge of the company’s financials. The company expects demand from businesses for its AI models... Anthropic this summer hiked its most optimistic growth forecasts by roughly 13% to 28% over the...

The Information 50

Introducing The Information’s 50 Most Promising Startups of 2025

By Amir Efrati · Nov 4, 2025 6:00am PST · 9 comments

Investor euphoria around artificial intelligence has shown little sign of wearing off this year, especially as ex-employees of AI developers such as OpenAI, Google and Palantir raised capital for their own AI startups. That made it more difficult than ever to identify promising but relatively unknown startups that fit the criteria for the sixth... Investor euphoria around artificial intelligence has shown little sign of wearing off this year,...

An AWS data center in Ashburn, Va. Getty Images.

AWS Joins OpenAI Club

By Martin Peers · Nov 3, 2025 5:00pm PST

If you’re tired of the seemingly endless parade of AI cloud deals, better get comfortable with them: They’re not going away anytime soon. On Monday, for instance, Microsoft struck deals with two little-known cloud firms, Lambda and Australia’s Iren, for additional computing capacity. Another firm, Cipher Mining Inc. announced a similar deal to... If you’re tired of the seemingly endless parade of AI cloud deals, better get comfortable with...

Mira Murati. Photo by Getty Images

What Ilya Saw: Mira Murati’s Screenshots About Sam Altman

By Amir Efrati · Nov 3, 2025 7:00am PST · 1 comment

Mira Murati. Photo by Getty Images

What Ilya Saw: Mira Murati’s Screenshots About Sam Altman

By Amir Efrati · Nov 3, 2025 7:00am PST · 1 comment

Before we get to today’s column, OpenAI is continuing its trend of diversifying its cloud compute providers away from Microsoft. Monday morning, the ChatGPT maker announced that it has signed a seven-year, $38 billion cloud deal with Amazon Web Services. OpenAI will immediately start using compute from AWS, with the goal to deploy all capacity... Before we get to today’s column, OpenAI is continuing its trend of diversifying its cloud compute...