China’s Regulator Slaps $515 Million Fines on PDD, Other Food Delivery Platforms
The crackdown comes after an intense battle among e-commerce giants offering instant delivery services in China.
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The Information AM
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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Recent Editions
Alibaba Becomes Selective with Open-Source Models, New Release Shows
Alibaba is putting more effort into large-size proprietary AI models, while continuing to open-source smaller ones that appeal to cost-conscious developers.
Cerebras Prepares Public Listing, Eyes $35 Billion-Plus Valuation
OpenAI also agrees to pay Cerebras more than $20 billion to use servers powered by the firm’s chips over the next three years.
Netflix Reports 16% First Quarter Growth, as Hastings Leaves Board
Hastings had stepped down as CEO three years ago.
Meta Raises VR Headset Prices by as Much as $100
The company said rising global memory chip prices have significantly increased the cost of building VR hardware.
xAI to Rent Computing Power to Cursor
Cursor plans to use tens of thousands of xAI’s chips to train its latest AI coding model, according to the report.
TSMC Raises Revenue Forecast as AI Chip Demand Surges
CEO C.C. Wei said although TSMC does not underestimate new chipmaking efforts, including Elon Musk’s Terafab project with Intel, building and ramping an advanced fab still takes years.
OpenAI Prepares to Launch Cost-Per-Click Ads In Coming Days
The planned changes could help OpenAI better compete with ad giants Meta and Google.
Accel Raises $5 Billion for Late-Stage Investments
The fundraise is the latest multi-billion-dollar haul by a VC firm.
Crypto Billionaire Justin Sun Labels Trump-Linked Crypto Vote a Scam
A proposal by World Liberty Financial would lock up trading of a key token owned by investors for longer.
Exclusive: Meta Reorganizes Reality Labs To ‘Execute Faster’
The moves come after Meta laid off more than 1,500 Reality Labs employees in January and March.
Allbirds to Pivot to AI Chips
Allbirds will change its name to NewBird AI and raise up to $50 million to buy AI chips for rental.
Anthropic Exec Leaves Figma Board
The move came shortly after The Information broke the news that Anthropic is working on an AI design tool which could compete with Figma’s offerings.
Snap Lays Off 16% of Workforce
Last month an activist investor called on Snap to shake up the company, including cutting employee numbers.
ByteDance’s Cloud Unit Launches Seedance 2.0 Globally, Excluding the U.S.
The model, which has faced copyright disputes with Hollywood studios, comes with limitations that prevent the usage of human faces in prompts.
New Salesforce Tool Connects Third-Party Agents With Its Customer Data
The tool, known as a hosted Model Context Protocol server, shows how Salesforce is finding a way to generate revenue from customers using AI agents built outside of its apps.
Novartis CEO Joins Anthropic’s Board
Narasimhan is the first pharmaceutical executive to join Anthropic’s board
Deutsche Börse Acquires $200 Million Stake in Kraken
Crypto exchange Kraken announced last November that it filed confidentially for an IPO.
Exclusive: Meta AI Infrastructure Executive Departs
Aparna Ramani, who led key AI infrastructure efforts and reported to chief AI officer Alexandr Wang, is departing after a decade at the company.
General Catalyst Appoints Palo Alto Networks’ Arora to Board
Arora will serve as the firm’s first lead independent director, joining Taneja and General Catalyst chairman and managing director Kenneth Chenault on the board.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy