Walmart Hires Instacart Executive to Oversee AI Initiatives
Daniel Danker was previously Instacart’s chief product officer and head of its online grocery business.
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Tesla Reports Steep Profit and Revenue Declines
Tesla said it had started its “first builds” of a long-awaited “more affordable model” in June, but gave few details.
Alphabet Raises Capex Estimate to $85 Billion as Cloud Profits Grow
Cloud’s profit margin also rose meaningfully, to 20.7%, compared with 11% a year earlier although it has been rising steadily through the past year.
Hacker Tweaks Amazon’s AI Coding Tool to Erase Customers’ Data
Amazon Web Services says it has fixed an issue brought to light after a hacker recently compromised its AI coding tool, but some questions remain.
White House Releases AI Action Plan
President Trump is also due to sign a series of AI executive orders Wednesday.
Tom Conrad Becomes Permanent Sonos CEO
The internet-connected speaker maker appointed Conrad interim CEO in January.
Amazon Shuts Down Shanghai AI Lab
Amazon's decision to shut down the seven-year-old lab in China reflects the deepening geopolitical rift between Washington and Beijing.
Alibaba Launches Open-Source AI Coding Model
Chinese companies are ramping up their efforts to launch better coding models and tools as competition heats up in the AI coding market.
Amazon Buys Bee AI Wearable Startup
Bee makes $50 watches that listen to daily conversations.
Snap Head of Revenue Product Announces Departure
Darshan Kantak's departure comes two weeks before Snap is scheduled to report second quarter earnings, when its ad sales performance will be in the spotlight.
Musk’s xAI taps Valor for $12 billion to purchase AI chips
Private credit firms are getting comfortable lending money to companies purchasing AI chips
Trump Administration Seeks SpaceX Alternatives for ‘Golden Dome’ Project
SpaceX is still likely to play some role in the project due to its unmatched launch capacity, but the U.S. is wary of relying too heavily on the company, Reuters reported.
OpenAI Greatly Expands Data Center Deal With Oracle
In the Tuesday announcement, OpenAI also expanded the definition of Stargate.
OpenAI, SoftBank at Odds Over Data Center Project
OpenAI has moved ahead without SoftBank to secure more computing power for its technology and products.
OpenAI’s Incoming ‘CEO of Applications’ Shares Optimistic View for AI
As CEO of Applications, Fidji Simo will oversee areas including product, sales and finance, while CEO Sam Altman will oversee research and compute.
CoreWeave to raise additional $1.5 billion in debt
The artificial-intelligence chip rental company has soared more than 200% in trading since its March initial public offering
Blackstone Pulls Out Of Investor Group for U.S. TikTok Operations
Blackstone has pulled out of a consortium looking to invest in TikTok’s U.S. operations.
Crypto Custody Firm BitGo Confidentially Files for US IPO
Crypto custody firm BitGo joins a growing number of crypto firms capitalizing on the Trump administration’s support to go public this year.
Hackers Exploit Microsoft Flaw in File-Sharing Software
Dozens of companies and government agencies have already been compromised by hackers, according to researchers at Palo Alto Networks.
Figma Sets Tentative IPO Pricing Range
The range is below the $20 billion price at which Adobe wanted to buy Figma but is around what Figma would be valued at in comparison with other software firms.
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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