The Briefing by Martin Peers, Jessica E. Lessin and the team at The Information

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The Briefing

By Martin Peers, Jessica E. 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

Art by Shane Burke

The $115 Billion Reason OpenAI Will Raise More Money

By Sri Muppidi · Sep 9, 2025 12:00pm PDT

Last week, I reported on how OpenAI updated its financial forecasts for investors. The company expects to spend nearly $115 billion between 2025 and 2029. That’s $80 billion more than it forecast in the first quarter. As the chart shows, the startup—recently valued at $500 billion in a sale of employee shares—has been able to handily raise... Last week, I reported on how OpenAI updated its financial forecasts for investors. The company...

Microsoft CEO Satya Nadella, left, and Anthropic CEO Dario Amodei. Photos via Getty

Microsoft to Buy AI From Anthropic in Partial Shift From OpenAI

By Aaron Holmes · Sep 9, 2025 11:18am PDT · 1 comment

Microsoft is taking its biggest step to lessen reliance on OpenAI’s artificial intelligence by embracing the startup’s bitter rival Anthropic to power its most important software business. Microsoft will pay to use Anthropic’s technology for some AI features in Office 365 apps, according to two people involved in the effort. The move will... Microsoft is taking its biggest step to lessen reliance on OpenAI’s artificial...

Census Bureau Says Corporate AI Adoption is Slowing

Census Bureau Says Corporate AI Adoption is Slowing

By Aaron Holmes · Sep 9, 2025 10:30am PDT

Across American businesses, use of artificial intelligence has fallen in recent months, according to the Census Bureau’s biweekly survey of thousands of companies.The drop is especially pronounced at the largest companies surveyed: AI for “producing goods and services” peaked in June for those with 250 employees, with roughly 15% of surveyed... Across American businesses, use of artificial intelligence has fallen in recent months, according...

AUI cofounders Ori Cohen (left) and Ohad Elhelo (right)

The Startup Teaching AI Agents How to Actually Get Stuff Done

By Ann Gehan · Sep 9, 2025 7:00am PDT

AUI cofounders Ori Cohen (left) and Ohad Elhelo (right)

The Startup Teaching AI Agents How to Actually Get Stuff Done

By Ann Gehan · Sep 9, 2025 7:00am PDT

I’ve written lots over the past few months about how startups and big tech companies alike are trying to tackle the problem of agentic commerce—the fancy term for “agent” services that take action on behalf of consumers, in this case, buying stuff. While AI search is a powerful tool to help shoppers hone in on the perfect gift or find a hotel... I’ve written lots over the past few months about how startups and big tech companies alike are...

Marc Andreessen and Ben Horowitz, co-founders of Andreessen Horowitz. Photo via Getty.

Andreessen Horowitz Crypto Returns Boosted by 300% Solana Rally

By Natasha Mascarenhas · Sep 9, 2025 6:00am PDT · 1 comment

When Andreessen Horowitz raised a record-setting $4.5 billion crypto fund in May 2022, it seemed to have timed the market—in all the wrong ways. Bitcoin prices had fallen 55% from their peak, while Coinbase shares had dropped about 80%. Both would stay depressed for more than another year. But the Sand Hill Road firm’s crypto bets are... When Andreessen Horowitz raised a record-setting $4.5 billion crypto fund in May 2022, it seemed...

Oracle CEO Safra Catz. Photo via Getty

Oracle Is Squeezing Employees as AI Development Costs Mount

By Martin Peers · Sep 8, 2025 5:00pm PDT

Of all the tech companies to reinvent themselves through the power of artificial intelligence, Oracle may be the most surprising. The software giant of yesteryear (well, the 1980s and ‘90s), which stumbled in software’s transition to the cloud, has gotten a new lease on life as an AI cloud provider. We’ll get an update on its progress on Tuesday... Of all the tech companies to reinvent themselves through the power of artificial intelligence,...

Supabase CEO Paul Copplestone. Screenshot via YouTube

Supabase in Talks to More Than Double Its Valuation to $5 Billion

By Katie Roof and Natasha Mascarenhas · Sep 8, 2025 4:00pm PDT

Supabase, a database startup that has benefited from the rise of artificial intelligence-powered coding assistants, is in talks with investors about offers that could raise its valuation to at least $5 billion, according to two people with direct knowledge of the discussions. The investment, if finalized, would more than double its... Supabase, a database startup that has benefited from the rise of artificial intelligence-powered...

Art via Getty

Researchers Record Their Work So AI Can Do Their Jobs

By Rocket Drew · Sep 8, 2025 7:00am PDT

Art via Getty

Researchers Record Their Work So AI Can Do Their Jobs

By Rocket Drew · Sep 8, 2025 7:00am PDT

Before we get to today’s main item, please check out my colleague Sri’s exclusive piece from Friday night revealing that OpenAI expects to burn $115 billion in cash through 2029, plus tons of other financial data the company has disclosed to investors. We are still having a hard time digesting the capital that cash burn will require the... Before we get to today’s main item, please check out my colleague Sri’s exclusive piece from...

Brex CEO Pedro Franceschi, left, and Ramp CEO Eric Glyman. Images via YouTube and Getty.

Make No Mistake, Brex and Ramp Are Fintechs, Not Software Firms

By Anita Ramaswamy · Sep 8, 2025 6:00am PDT · 4 comments

Fintech startups Brex and Ramp are hurtling toward initial public offerings as soon as next year as they duke it out over customers for their corporate credit cards. In the meantime, investors are getting excited about the companies’ rapid growth rates. Their numbers are impressive, but investors need to temper their enthusiasm. Ramp just passed... Fintech startups Brex and Ramp are hurtling toward initial public offerings as soon as next year...

Lingbo Zhu, chief technology officer of CATL’s international business unit. Photo: Courtesy CATL

In Munich, a Bolder CATL Doubles Down on Good-Enough Batteries

By Steve LeVine · Sep 8, 2025 4:30am PDT

For years, Western battery startups using exotic materials have promised outsize driving range and charging speed, all at a good price. None has reached commercial production, and an increasing number have failed.Not to fret, China’s battery colossus, CATL, seemed to say on Sunday. CATL is steadily improving its tried-and-true battery, which... For years, Western battery startups using exotic materials have promised outsize driving range...

Art by Clark Miller; photos from Getty Images

Tesla Hastens the Era of the Trillionaire

By Abram Brown · Sep 6, 2025 7:28am PDT

Welcome, Weekenders! In this newsletter:• The Big Read: The tech elite sees GLP-1s as all-purpose wonder drugs• The Arena: Inside the NFL’s feud with venerable ol’ Nielsen• The Top 5: The AI era’s favorite hacker houses• Does a shoeless office stink? Depends on who you ask in Silicon Valley• Plus, our Recommendations: “Bad Elizabeth,” “Dirtbag... Welcome, Weekenders! In this newsletter:• The Big Read: The tech elite sees GLP-1s as all-purpose...

Art by Clark Miller.

Does a Shoeless Office Stink? Depends on Who You Ask in Silicon Valley

By Max Berlinger · Sep 6, 2025 7:14am PDT

Art by Clark Miller.

Workplace Culture

Does a Shoeless Office Stink? Depends on Who You Ask in Silicon Valley

By Max Berlinger · Sep 6, 2025 7:14am PDT

A few years back, Brandon Gell, chief operating officer of Every, an artificial intelligence–focused media startup, couldn’t stop staring at a photo taken at the headquarters of another startup, Notion, a maker of productivity software. “It was of their entryway, and it was just shoes—this mountain of shoes,” he recalled. The pile of... A few years back, Brandon Gell, chief operating officer of Every, an artificial...

Inside the AI Era’s Favorite Hacker Houses

By Jemima McEvoy · Sep 6, 2025 7:00am PDT

Which hacker house came first? No one’s exactly sure. But what’s certainly clear is that such hostelries have become enduring Silicon Valley staples even as many other rhythms of startup life have significantly shifted. A whole new crop has bubbled up lately as AI fever has taken hold, presenting investors like Lightspeed Venture Partners’... Which hacker house came first? No one’s exactly sure. But what’s certainly clear is that such...

OpenAI CEO Sam Altman, left, with Apple CEO Tim Cook at the White House. Photo via Getty

OpenAI Says Its Business Will Burn $115 Billion Through 2029

By Sri Muppidi · Sep 5, 2025 6:32pm PDT · 6 comments

OpenAI recently had both good news and bad news for shareholders. Revenue growth from ChatGPT is accelerating at a more rapid rate than the company projected half a year ago. The bad news? The computing costs to develop artificial intelligence that powers the chatbot, and other data center-related expenses, will rise even faster. As a result, ... OpenAI recently had both good news and bad news for shareholders. Revenue growth from ChatGPT is...

Photo via Getty

Musk’s Money

By Martin Peers · Sep 5, 2025 3:00pm PDT · 1 comment

Elon Musk is putting his money where his mouth is. In a securities filing on Friday, Tesla disclosed a new stock award for its CEO worth as much as $1 trillion. It hinges entirely on Musk’s ambitious claims that his focus on humanoid robots and robotaxis will turn Tesla into “the most valuable company in the world by far,” as he has often... Elon Musk is putting his money where his mouth is. In a securities filing on Friday, Tesla ...

Art by Clark Miller

Why the NFL and Nielsen Are Beefing as Sports Streaming Surges

By Sara Germano · Sep 5, 2025 11:39am PDT

Art by Clark Miller

Why the NFL and Nielsen Are Beefing as Sports Streaming Surges

By Sara Germano · Sep 5, 2025 11:39am PDT

The NFL, the world’s richest and most powerful sports league, would like you to know something: It is not thrilled with the way Nielsen measures its TV audience. Earlier this week, the NFL took the extraordinary step of criticizing media measurement firm Nielsen, which the football giant argued is undercounting the number of viewers for its... The NFL, the world’s richest and most powerful sports league, would like you to know something:...

Art by Clark Miller; photos from Getty Images

Why Silicon Valley Believes GLP-1s Are All-Purpose Wonder Drugs

By Ann Gehan · Sep 5, 2025 9:13am PDT · 1 comment

Over the past year, investor Brian Sugar has developed what he considers a “superpower,” finding it newly possible to push himself harder than ever before at home, in the gym—and in the office. What’s given him this boost? He attributes it to a recently acquired prescription for semaglutide, which places him among a sizable portion of the... Over the past year, investor Brian Sugar has developed what he considers a “superpower,” finding...

Subscriber Survey

The Information Survey: More Than Half of Respondents Take a GLP-1

By Nick Wingfield · Sep 5, 2025 9:01am PDT · 2 comments

It’s not exactly news that Ozempic, Wegovy and other GLP-1 drugs are catching on, with some surveys showing nearly 12% of Americans have used the weight loss medications. The Information’s audience seems to be even more gung-ho about taking GLP-1s than the broader population. More than 50% of the respondents to our recent survey on the topic... It’s not exactly news that Ozempic, Wegovy and other GLP-1 drugs are catching on, with some...

Art by Clark Miller.

How Tech Giants Are Spreading the Risk of the AI Buildout

By Miles Kruppa · Sep 5, 2025 6:00am PDT

Joint ventures. Backstop agreements. Syndicated debt offerings. The richest tech companies and their bankers are developing increasingly complicated financial strategies to meet the soaring demands of funding artificial intelligence. The goal for companies like Google and Meta Platforms is to stay ahead in the AI race while offloading some of... Joint ventures. Backstop agreements. Syndicated debt offerings. The richest tech companies and...

Photo via Getty

Nvidia’s Chip Round-Trip Deals

By Martin Peers · Sep 4, 2025 5:00pm PDT · 2 comments

Photo via Getty

Nvidia’s Chip Round-Trip Deals

By Martin Peers · Sep 4, 2025 5:00pm PDT · 2 comments

What would you think if Apple set up a company to buy iPhones and then rented those devices back for use by Apple staffers? It would make you wonder, right? Yet that’s more or less what Nvidia has taken to doing. As we reported today, Nvidia has struck a couple of deals to rent its own chips from Lambda, a cloud startup Nvidia partly owns.... What would you think if Apple set up a company to buy iPhones and then rented those devices back...