Nvidia, AMD Announce AI Chip Deals With Saudi Arabia
The announcements come as President Donald Trump and U.S. tech leaders visit the country this week seeking to strike deals with Saudi investors.
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Microsoft to Cut 3% of Staff, Targeting Middle Management
The layoffs are not related to performance and are meant to reduce the number of managers, Microsoft said.
New ESPN Streaming Service Will Cost $30 Per Month
The service, which will also be called ESPN, will bring the sports network's entire portfolio of TV channels and live sports to streaming.
VMG Partners Raises New $1 Billion Consumer Fund
The investment firm’s recent wins include K18 haircare and sparkling water brand Spindrift.
Trump Slashes Tariffs on Low-Value Parcels from China
The trade war ceasefire could potentially revive e-commerce marketplaces like Shein, Temu and Amazon Haul
House Committee Proposes Decade Ban on State AI Laws
Tech companies have supported the measure, but the federal government has demonstrated little appetite to pass its own AI laws.
Google Developing Software AI Agent, Pinterest-Like Feature
Google will host its annual developer conference, I/O, next week.
CrowdStrike CEO Gives Away 92% of Voting Power
Kurt’z gifts triggered a clause that transferred all of CrowdStrike’s supervoting stock, which previously gave him and other executives more voting power.
Coinbase to Join S&P 500
Shares of Coinbase surged more than 8% post-market after the announcement.
Amazon to Use FedEx For Some Large Packages
Large items in particular are expensive for the company to handle itself, since they don’t fit into its standard delivery network and are often handled by separate teams within Amazon.
Aurora Cofounder Sterling Anderson Joins General Motors as Chief Product Officer
Anderson worked on Tesla Autopilot before founding the autonomous trucking company in 2016
Perplexity Discusses Fundraising at $14 Billion Valuation
The firm has had discussions with Accel for the financing.
Trump Crypto Advisor Raises $710 Million for Bitcoin Investing Firm
Shares of healthcare firm KindlyMD, which will start buying bitcoin, surged.
U.S., China Agree to Slash Tariffs for 90 Days
Chinese tech stocks rose on a major de-escalation of the trade war between Washington and Beijing.
Klarna Backtracks on AI as a Way to Save Money
Klarna's CEO had been one of the most vocal about the cost saving potential of AI.
Google Settles Texas Lawsuit With $1.375 Billion Payment
The settlement is almost exactly the same size as one that Texas reached with Meta Platforms last July over a lawsuit relating to the use of facial recognition technology.
U.S. Treasury Reviews Benchmark’s Investment in Chinese Startup Behind Manus AI Agent
Washington’s scrutiny comes after Benchmark led a funding round that valued the Chinese startup at $500 million.
Simo to Step Down From OpenAI Board
Fidji Simo, the chief executive of Instacart, was appointed to CEO of Applications at OpenAI this week.
Rippling Valued at $16.8 billion in New Financing
The HR startup will also buy back up to $200 million in stock from current and former employees.
Trump Says 80% Tariff on China “Seems Right”
The president is hinting at a sharp reduction from the current 145% ahead of U.S. officials’ trade talks with China this weekend.
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.
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