MongoDB Reports $37 Million Loss, Rising Revenue Lifted by AI
CEO Dev Ittycheria said the company is still “at the early stages of AI powering the next wave of application development.”
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Robinhood Buys Back Bankman-Fried’s Stake
A Bankman-Fried-controlled entity called Emergent Fidelity Technologies bought the stake in May 2022 .
Nvidia-Powered Cloud Provider Preps $500 Million Employee Stock Sale
A former ethereum miner hits pay dirt.
U.S. Offers $12 Billion to Help Auto Industry Prepare for EVs
The Biden administration is offering $12 billion in grants and loans for automakers and suppliers to retrofit their plants to produce electric vehicles.
Shopify Begins Rolling Out TikTok Shop Integration
The rollout comes as Shopify also announced a partnership with Amazon, another rival.
Amazon Aggregator Benitago, Which Raised $383 Million, Files for Bankruptcy
Benitago was one of several Amazon aggregators to hit the skids in recent months as e-commerce growth slowed and funding for startups dried up.
French Billionaire Reportedly Close to Acquiring CAA
French billionaire Francois-Henri Pinault, who owns a luxury goods empire with brands including Gucci, is close to owning a majority stake in CAA.
Deel Offers to Buy Stake in Rival Papaya Global
Deel, an HR startup last valued at $12 billion, has put in an offer to purchase a 10% stake in a competitor.
Microsoft Unbundles Teams from Office in EU to Stave Off Antitrust Concerns
Microsoft will now charge €2 less for Office 365 subscriptions that don’t include Teams.
China’s Tech Firms Begin Roll Out of Chatbots After Beijing Approves
The approved rollouts provide an opportunity for Chinese companies to gain valuable feedback from users, which can help improve their large language models.
OpenAI Rival Cohere Hires Banks to Raise More Money
The move comes as shareholder Tiger Global nears a sale of part of its stake in the startup.
Amazon and Shopify Strike Buy With Prime Partnership
Shopify executives have grappled with the best way to partner with rival Amazon.
Salesforce Shares Jump 6% as AI Products Boost Revenue Growth
CEO Marc Benioff predicted a “massive tech buying cycle” driven by AI.
DOJ and SEC Probe Tesla Over Glass House
Investigators want to know how Elon Musk personally benefitted at Tesla.
Visa and Mastercard to Raise Fees on Merchants
The card networks earn a significant percentage of their revenue from fees charged to merchants.
Reid Hoffman Will Step Back at Greylock
The LinkedIn co-founder will not serve as a general partner on Greylock's upcoming fund.
Former NYT and BBC Exec Mark Thompson Named CEO of CNN
Mark Thompson, who helped transform the New York Times' business by growing digital subscriptions, is now tasked with turning CNN around.
OpenAI’s Revenue Surges More Than 35 Times
And a major OpenAI customer, Jane Street, woos a veteran AI researcher from Google
Google Launches Cloud AI Services, Chips
Google announced deals with several companies that have close ties to Amazon Web Services.
Court Sides With Grayscale Over SEC in Bitcoin ETF Case
The SEC will have to reconsider Grayscale’s spot bitcoin ETF application after rejecting it last year.
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