Briefing
Finance

JPMorgan, Wells Fargo Second-Quarter Profits Rise; Citi Sags

By
Michael Roddan
· · Source: The Information

JPMorgan Chase’s second-quarter profit soared 67% to $14.5 billion, driven by higher interest rates levied on borrowers and a boost in earnings from its acquisition of First Republic Bank. The nation’s largest bank boosted its full-year net interest income target by 3.6% to $87 billion. JPMorgan was a beneficiary of the banking crisis earlier this year, as customers fleeing smaller...

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Creator Economy startups
Beehiiv’s Deal for an Ad Tech Startup Shows Strains on Founders
By Kaya Yurieff · Sept. 25, 2023 1:05 PM PDT
Photo via Midjourney
Let’s kick off this week with some creator economy M&A news. Beehiiv, a newsletter publishing startup, is acquiring Swapstack, an advertising marketplace for newsletters, Beehiiv’s CEO Tyler Denk confirmed to me. Beehiiv is acquiring the smaller firm’s tech and relationships with advertisers. Swapstack co-founder and CEO Jake Schonberger and a Swapstack account manager will join nearly...
Latest Briefs
 
Outgoing Amazon Devices Chief to Lead Jeff Bezos’ Blue Origin
By Theo Wayt · Sept. 25, 2023
Amazon Agrees to Invest up to $4 Billion in AI Startup Anthropic
By Jing Yang · Sept. 25, 2023
Writers Guild Reaches Tentative Deal With Studios to End Strike
By Juro Osawa · Sept. 24, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
From left, a Google TPU, Broadcom CEO Hock Tan and Google Cloud chief Thomas Kurian. Photos via Getty, Google and YouTube.
Exclusive google semiconductors
To Reduce AI Costs, Google Wants to Ditch Broadcom as Its TPU Server Chip Supplier
By Wayne Ma, Anissa Gardizy and Jon Victor
Google executives have extensively discussed dropping Broadcom as a supplier of artificial intelligence chips as early as 2027, according to a person with direct knowledge of the effort.
Photo via Midjourney.
AI Agenda startups ai
The Rise of Startups That Help Other Startups Evaluate LLMs
By Stephanie Palazzolo
All but a handful of artificial intelligence startups typically fall into one of two camps. The first group uses a single large-language model, typically OpenAI’s GPT-4, to power their applications.
Photos via Eiso Kant (left) and YouTube/VMWare Tanzu (right)
AI Agenda startups ai
How GitHub Copilot’s Co-Creator Raised $126 Million to Compete with His Former Employer
By Stephanie Palazzolo
Recent interest in artificial intelligence has focused on large-language models that aim to do everything from writing Shakespearean poetry to solving math riddles.
Art by Clark Miller
Exclusive startups entertainment
MasterClass Takes a Crash Course in Frugality
By Paris Martineau
MasterClass had a problem with the shoot featuring its latest star instructor, Walt Disney Co. CEO Bob Iger.
If AI researchers can meet Nat Friedman's Vesuvius Challenge, “It’ll be the first time we’ve read handwriting that hasn’t been seen in 2,000 years.” Art by Clark Miller
The AI Age culture ai
Nat Versus the Volcano: Can an AI Investor Solve an Ancient Mystery from the Ashes of Vesuvius?
By Margaux MacColl
Long before men’s daily thoughts about ancient Rome became a TikTok meme , former GitHub CEO Nat Friedman’s mind was regularly turning toward the Roman Empire.
Photo via Jacopo Pantaleoni.
AI Agenda ai
Nvidia Engineer’s Message to Google AI Researchers: Leave Your Company
By Stephanie Palazzolo
Jacopo Pantaleoni joined Nvidia in 2001 when the company had less than 500 employees. He worked on what was then a small research project to improve Nvidia’s graphics processing units so they could better render images on computers and gaming consoles.