Paramount Widens Acquisition Talks To Include Sony and Apollo
The pair submitted a valuation of Paramount last week valuing it at $26 billion.
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Tech Group Mulls AI Draft Legislation Focused On National Security
Possible legislation could require AI developers to implement a version of banks’ know your customer rules to prevent foreign adversaries.
Fei-Fei Li Building ‘Spatial Intelligence’ Startup
Li recently raised a seed round for the company from investors including Andreessen Horowitz and the Canadian venture capital firm Radical Ventures, according to Reuters.
Google, DOJ Conclude Final Arguments in Search Antitrust Case
Justice Department lawyers pushed for sanctions on Google for failing to preserve documents relevant to the case.
SVB to Sell VC Arm to Fund Backed by Sequoia Heritage, Brookfield for $340 Million
The venture arm of the failed Silicon Valley Bank has held stakes in Sequoia Capital, Andreessen Horowitz.
Microsoft Reorganizes Security Teams Following Pressure from U.S.
Microsoft has been under growing pressure to combat high-profile hacks that have led to customers’ data being stolen.
Wiz’s Bid to Acquire Lacework Falls Apart in Due Diligence
Lacework had raised over $1.8 billion from investors and was previously valued at $8.3 billion in 2021.
Block Profit Surges Fourfold on Cash App, Bitcoin
The company, run by Jack Dorsey, said Bitcoin generated nearly 46% of its revenue.
Google, DOJ Return to Court for Closing Arguments in Search Case
Amit Mehta, the U.S. district judge who will decide the case, expressed skepticism of arguments by both sides.
Coinbase Revenue Jumps, Buoyed by Bitcoin ETF Euphoria
Company reports second-consecutive profitable quarter
Apple Revenue Falls on 10.5% Drop in iPhone Sales
The weaker quarter signals that Apple's business remains depressed, with only the services segment showing any meaningful growth.
Sony Pictures and Apollo Reportedly Make $26 Billion Bid for Paramount
It's an all-cash bid for all of Paramount Global, which remains in exclusive merger talks with David Ellison's Skydance Media until Friday.
BlackRock Meeting With Banks on Bitcoin ETF Access
Bitcoin price falls this week as investors pull assets
TikTok and UMG Sign New Deal After Royalty Standoff
TikTok and UMG announced a new licensing deal following a months-long standoff over royalties.
Peloton CEO McCarthy Steps Down As More Layoffs Are Announced
The company said it would cut another 15% of its workforce. It has shrunk its employees by about 60% since 2021.
Google Lays Off More Engineering Staff
Google plans to relocate some of those roles to offices in Mexico and India.
Anthropic Launches iPhone App and Enterprise Subscription Plan
Business sales have helped drive revenue at rival OpenAI.
Etsy Shares Drop As Sales Continue to Slump
The online marketplace has seen sales growth drop as consumers pull back on discretionary spending.
DoorDash Projects Slowdown in Q2
DoorDash is grappling with the fallout of regulations that imposed minimum pay rates for deliverypeople.
Cloud Provider CoreWeave Valued At $19 Billion in Coatue-Led Funding
The funding comes five months after a share sale that valued CoreWeave at $7 billion.
Weekday mornings
The Information AM by The Information Staff
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