Private Equity Firms Take Control of Rent the Runway
Cofounder and CEO Jenn Hyman is converting her supervoting shares to ordinary voting stock and giving a proxy on her stake to the investors.
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Recent Editions
Canva Conducts Share Sale at $42 Billion Valuation
The deal allows employees to cash out shares to new and existing investors.
Google Unveils Pixel 10 Lineup, New AI Features
Google unveiled its new lineup of Pixel phones, watches and earbuds on Wednesday, touting new AI capabilities in an event hosted by the comedian Jimmy Fallon.
Former Meta Employee Alleges Ads Misled Advertisers
The Employee Filed a Complaint With the UK’s Central Employment Tribunal
Vantage Taps JPMorgan, MUFG to Finance $25 Billion Data Center Project
The project, codenamed “Frontier,” adds to a growing list of massive artificial-intelligence data centers looking for project financing
China Considers Approving Yuan-Backed Stablecoins
China is mulling allowing yuan-backed stablecoins to promote the use of currency globally.
AI Agent Manus Achieves $90 Million Annualized Run Rate
AI agent startups are grappling with high costs due to their dependence on AI models from Anthropic and others.
Data Center Developer Plans $25 Billion AI Facility Near OpenAI Site
It is not clear whether OpenAI is massively expanding in the area or whether its flagship site now has a rival next door.
Tether Hires Ex-White House Crypto Adviser Bo Hines
Bo Hines will coordinate Tether’s U.S. strategy and expansion.
Eight Sleep Raises $100 Million in New Funding
The new funding will allow the company to pursue AI-powered enhancements to its products, as well as expand internationally and pursue FDA approval for certain features.
Deel Cinches Victory in a Rippling-linked Lawsuit
A judge in Florida on Monday dismissed a case that was filed earlier this year against Deel.
Databricks is Raising Funding at $100 Billion-Plus Valuation
Eight months after raising a $10 billion round at a $62 valuation, Databricks is once again raising funding to fuel its AI business.
OpenAI Launches Cheaper Subscription Tier for Indian Users
Growth in India is essential for OpenAI to achieve its goal of 1 billion daily active users by year’s end.
SoftBank to Buy $2 Billion of Intel Shares
SoftBank has become one of the largest funders of AI chips and data centers in the U.S.
Google Increases Stake in Data Center Provider TeraWulf
TeraWulf’s stock rose 12% on Monday after rising 60% last week on the earlier deal.
Trump Administration in Talks to Take 10% Stake in Intel
The potential deal could involve converting up to $10.9 billion grants that Intel would receive in the Chips and Science Act grants into equity.
BNY, Goldman Eye Managing Reserves for Stablecoin Issuers
The companies are each seeking SEC approval to launch stablecoin reserve funds.
MSNBC to Rebrand as ‘MS NOW’ Following NBCU Spinoff
The left-leaning cable news channel will become "MS NOW," which stands for "My Source News Opinion World."
Thoma Bravo In Talks to Take HR Software Firm Dayforce Private
The software-focused buyout firm has been on an acquisition spree amid wider consolidation in the software sector.
Europe Trade Deal Statement Stalled Over EU’s Desire to Regulate Tech
The EU wants to keep its Digital Services Act intact.
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