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Tesla Books Record $438 Million Profit From Sale of Credits, Bitcoin

By
Amir Efrati
· · Source: The Information

Tesla’s $700 billion market valuation still doesn’t make a lot of sense, but its automotive business continues to improve and the company also is showing early gains from holding bitcoin. Tesla generated $293 million in cash during the first quarter, a big improvement from the same quarter in the past two years, when it burned close to $1 billion each time. The company was able to achieve this...

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From left, Alphabet CEO Sundar Pichai, DeepMind CEO Demis Hassabis and Google Brain chief Jeff Dean. Photos by Getty, Bloomberg
Exclusive google ai
Alphabet’s Google and DeepMind Pause Grudges, Join Forces to Chase OpenAI
By Jon Victor and Amir Efrati
OpenAI’s success in overtaking Google with an artificial intelligence–powered chatbot has achieved what seemed impossible in the past: It has forced the two AI research teams within Google’s parent, Alphabet, to overcome years of intense rivalry to work together.
Art by Clark Miller.
Opinion startups
Don’t Build the Wrong Kind of AI Business
By Ben Parr
At a catch-up coffee a few weeks ago, a founder friend asked me, “What AI thing should we build?” It was the third time that week a founder had asked me the same question.
Orlando Bravo, co-founder of Thoma Bravo LLC. Photo by Bloomberg.
DEALS enterprise
Private Equity Firms’ Secret Weapon for Big Software Buyouts
By Rachel Graf
When Thoma Bravo was drawing up the financing of its $8 billion acquisition of Coupa Software last year, the private equity giant didn’t turn to a bank, and it didn’t get a traditional loan.
Art by Clark Miller.
Opinion entertainment media/telecom
The Streaming Business Model Is Hitting Its Half-Life
By Andrew A. Rosen
Sign up for Rosen’s newsletter, Parqor, part of The Information’s newsletter network.
Org Charts microsoft ai
The People Who Make OpenAI Run Fast
By Jon Victor
Sam Altman has been the face of OpenAI as it quickly outmaneuvered rivals such as Google to launch cutting-edge artificial intelligence to the public.
Elon Musk. Photo by Bloomberg.
markets
Musk Puts $20 Billion Value on Twitter
By Erin Woo and Martin Peers
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company.