The Information

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DeepSeek’s Annualized Revenue Nears $500 Million, Boosting Fundraise and IPO Plans

By Jing Yang, Qianer Liu and Juro Osawa · Jul 14, 2026 10:10pm PDT

Strong revenue growth at DeepSeek is empowering the Chinese open-source AI star to raise its second-funding round of 50 billion yuan ($7.4 billion) and plot a potential public offering in Shanghai next year, according to three people with knowledge of the matter. The three-year-old startup’s annualized revenue reached between $400 million and... Strong revenue growth at DeepSeek is empowering the Chinese open-source AI star to raise its...

Art by Mike Sullivan

More Startups Try New Cloud Companies as AWS Faces Heavy Demand

By Catherine Perloff · Jul 14, 2026 1:19pm PDT

Arcee, an open-source AI developer, in 2024 committed to spend $8 million over three years with Amazon Web Services to store data and run AI models. But the startup hasn’t been able to get access to enough Nvidia-powered servers on AWS to handle its work. So Arcee has ended up running most of its models on cloud upstarts including Hugging Face,... Arcee, an open-source AI developer, in 2024 committed to spend $8 million over three years with...

Art by Mike Sullivan.

Susquehanna, an Early Backer of ByteDance, Is Stepping Back From China Venture Deals

By Juro Osawa and Jing Yang · Jul 10, 2026 6:00am PDT

U.S. investment firm Susquehanna International Group, one of ByteDance’s biggest shareholders, is winding down its China-based venture investment team, another sign of the challenges facing U.S. venture investors operating in China. SIG China’s managing director, Tim Gong, who ran the team, is expected to leave the firm, according to four people... U.S. investment firm Susquehanna International Group, one of ByteDance’s biggest shareholders, is...

Michael McNamara, CEO of Lancium. Photo by Jeenah Moon/ Getty Images

Power Developer Behind OpenAI’s Stargate Data Center Is In Talks to Sell Stake

By Valida Pau and Ann Davis Vaughan · Jul 9, 2026 3:00pm PDT

Michael McNamara, CEO of Lancium. Photo by Jeenah Moon/ Getty Images

Power Developer Behind OpenAI’s Stargate Data Center Is In Talks to Sell Stake

By Valida Pau and Ann Davis Vaughan · Jul 9, 2026 3:00pm PDT

Lancium, a power infrastructure developer behind OpenAI and Oracle’s data center campus in Texas, is in talks with major tech companies to sell a minority stake, according to people familiar with the matter. Blackstone-backed Lancium’s portfolio of gigawatt-scale Texas campuses has drawn interest from several tech companies, including Nvidia,... Lancium, a power infrastructure developer behind OpenAI and Oracle’s data center campus in Texas,...

Art by Mike Sullivan.

Cursor Is Developing an AI Agent to Compete With Claude Cowork

By Grace Kay · Jul 9, 2026 12:57pm PDT

Cursor is developing a general-purpose AI agent meant to compete with popular tools like Anthropic’s Claude Cowork, two people familiar with the project said, part of a broader push by the company to diversify beyond coding-focused tools. Work on the new agent began after Cursor started leasing compute capacity in April from SpaceX’s AI unit,... Cursor is developing a general-purpose AI agent meant to compete with popular tools like...

Art by Clark Miller

Khosla-Backed Startup Claims Breakthrough With Largest-Ever AI Model on an iPhone

By Aaron Tilley · Jul 9, 2026 6:00am PDT · 3 comments

Apple is on a quest to shrink powerful AI models to run on iPhones, which could cut down on cloud computing costs and enhance user privacy. But a small startup that emerged from stealth mode earlier this year says it recently got an AI model running on an iPhone bigger than any previous mobile model. The startup, PrismML, said it has shrunk down... Apple is on a quest to shrink powerful AI models to run on iPhones, which could cut down on cloud...

Marc Lore, founder and CEO of Wonder. Getty Images.

Marc Lore’s Wonder Ties $9 Billion-Valuation Fundraise to Future IPO

By Julia Hornstein and Cory Weinberg · Jul 8, 2026 6:08pm PDT · 1 comment

Wonder, the owner of GrubHub and Blue Apron, is lining up hundreds of millions of dollars, at a valuation of $9 billion, in what could be its last round before going public. To seal the deal, founder Marc Lore has been offering investors sweeteners—and putting his own money in the pot. The company has arranged to give investors in the... Wonder, the owner of GrubHub and Blue Apron, is lining up hundreds of millions of dollars, at a...

Art by Mike Sullivan

Binance to Cooperate Less on Crypto Cases, Justice Department Warns Staff in Memo

By Leo Schwartz · Jul 8, 2026 9:33am PDT

Art by Mike Sullivan

Binance to Cooperate Less on Crypto Cases, Justice Department Warns Staff in Memo

By Leo Schwartz · Jul 8, 2026 9:33am PDT

In early June, the U.S. Department of Justice sent a memo to its attorneys working on digital currency cases with a warning: They should expect less cooperation from the world’s largest crypto exchange, Binance, on future cases. The email came from Rachel Jones, the Justice Department’s digital currency counsel, and cc’d top attorneys such as... In early June, the U.S. Department of Justice sent a memo to its attorneys working on digital...

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China Plans to Let Top AI Firms Buy Limited Amount of Nvidia H200 Chips

By Qianer Liu · Jul 8, 2026 7:54am PDT

China plans to allow some of the country’s biggest AI companies to buy a small number of Nvidia’s H200 chips, according to two people with direct knowledge of the matter. The chip purchase approvals would offset a shortage caused by soaring demand for AI chips. U.S. President Donald Trump gave Nvidia permission in December to ship H200 chips to... China plans to allow some of the country’s biggest AI companies to buy a small number of Nvidia’s...

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Tesla’s Robotaxi Push Tests New Blueprint for Scaling Fast

By Grace Kay · Jul 8, 2026 6:00am PDT

Before Tesla launched its Robotaxi service in Austin, Texas, last summer, it recruited hundreds of workers to test and monitor the system. When it expanded the service to Miami this past weekend, it relied on fewer drivers, according to three people with knowledge of the program. The Miami launch marked the first time Tesla has debuted the... Before Tesla launched its Robotaxi service in Austin, Texas, last summer, it recruited hundreds...

Nvidia CEO Jensen Huang. Photo by I-Hwa Cheng/Getty Images.

Nvidia’s New Hedge Against Chip Competitors? Partner with Them

By Phoebe Liu · Jul 7, 2026 5:49pm PDT · 1 comment

Nvidia has a plan to deal with the growing list of AI server chip competitors: partner with them. In the latest example, Nvidia and AI chip startup d-Matrix are combining their respective hardware in a new system to power AI models, the companies told The Information exclusively. Nvidia has a plan to deal with the growing list of AI server chip competitors: partner with them....

Art by Clark Miller

When Andreessen Horowitz Has a Sticky Situation to Solve, It Calls ‘The Wolf’

By Michael Roddan · Jul 7, 2026 9:00am PDT · 2 comments

Art by Clark Miller

When Andreessen Horowitz Has a Sticky Situation to Solve, It Calls ‘The Wolf’

By Michael Roddan · Jul 7, 2026 9:00am PDT · 2 comments

Editors’ Note: This article previously appeared with three AI-generated prompts—suggested questions to submit to Deep Research—that did not fairly reflect the content of the article or the substance of The Information’s reporting. One prompt incorrectly implied that Mark Dyne “allegedly orchestrated corporate espionage and evidence... Editors’ Note: This article previously appeared with three AI-generated prompts—suggested...

Zhang Peng, CEO of Knowledge Atlas Technology, better known as Zhipu, during the company's listing ceremony at the Hong Kong Stock Exchange in January. Lam Yik/Getty Images.

China’s AI Lab Zhipu Weighs Custom Chip As Demand for its GLM Model Soars

By Qianer Liu and Juro Osawa · Jul 7, 2026 6:00am PDT

Zhipu AI, the Chinese AI lab behind the highly regarded GLM series of open-source AI models, is weighing designing its own AI chip as surging demand and U.S. export controls make computing resources a growing constraint, according to three people with direct knowledge of the plan. The Beijing-based company, one of China’s leading AI labs,... Zhipu AI, the Chinese AI lab behind the highly regarded GLM series of open-source AI models, is...

Josh Kushner of Thrive Capital. Photo by Getty

SoftBank, Altimeter, D1 to Invest in Thrive Holdings’ $2 Billion Financing

By Julia Hornstein · Jul 6, 2026 1:08pm PDT · 1 comment

Some of the biggest backers of OpenAI and its rivals are pooling their money in an offshoot of Thrive Capital that buys controlling stakes in accounting and other services firms and aims to transform them with AI. Thrive Holdings, a one-year-old holding company started by OpenAI investor Thrive Capital, is raising around $2 billion from... Some of the biggest backers of OpenAI and its rivals are pooling their money in an offshoot of...

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Tesla Caps Employee AI Spend at $200 per Week After Adoption Push

By Grace Kay · Jul 2, 2026 12:08pm PDT · 2 comments

Tesla told employees last month it would impose a $200 per week limit for staff’s AI spending beginning July 6, according to an internal memo, a sign that even companies committed to using the technology to transform their operations and products are having to watch their costs. Over the past few months, software engineers at Tesla were often... Tesla told employees last month it would impose a $200 per week limit for staff’s AI spending...

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Microsoft Memo Details AI App Overhaul to ‘Earn the Right to Exist’

By Aaron Holmes and Erin Woo · Jul 2, 2026 10:36am PDT · 1 comment

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Microsoft Memo Details AI App Overhaul to ‘Earn the Right to Exist’

By Aaron Holmes and Erin Woo · Jul 2, 2026 10:36am PDT · 1 comment

Microsoft is merging its consumer and enterprise Copilot apps and cutting unwanted features to ‘earn the right to exist’ in the eyes of customers, an executive told staff Thursday morning. In a 1,200-word memo, Jacob Andreou, an executive vice president, said the new unified app will also feature AI coding tools and new AI agents that... Microsoft is merging its consumer and enterprise Copilot apps and cutting unwanted features...

Art by Clark Miller.

Anthropic in Talks With Samsung to Manufacture Custom AI Chip

By Qianer Liu · Jul 2, 2026 6:50am PDT · 1 comment

Anthropic has begun early-stage work on its own AI chip and held talks with Samsung Electronics as a potential manufacturing partner, following the lead of rival OpenAI in trying to get more control over the costly computing systems behind its models, according to three people with direct knowledge of the project. If the Claude maker goes ahead... Anthropic has begun early-stage work on its own AI chip and held talks with Samsung Electronics...

Nvidia CEO Jensen Huang via Getty

Nvidia Says It Will Take a Cut of Some Customers’ Cloud Revenues

By Phoebe Liu · Jul 1, 2026 8:31pm PDT · 3 comments

Nvidia is using its powerful balance sheet to help more companies buy its expensive AI chips, and possibly make some money back too. It’s promising to financially backstop young cloud providers that rent out its graphics processing units in exchange for a share of their revenues. The backstop would come in the form of promising to rent back... Nvidia is using its powerful balance sheet to help more companies buy its expensive AI chips, and...

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New KKR Venture Hunts for Deals to Clear Data Center Logjam

By Dakin Campbell · Jun 30, 2026 6:00am PDT

Newly launched AI infrastructure firm Helix Infrastructure Partners is jumping into the AI build-out race, joining a growing group of private equity investors trying to bring new data center space to hyperscalers while demand is still red hot. Helix, backed by investing giant KKR, Nvidia and others and led by former Amazon Web Services chief... Newly launched AI infrastructure firm Helix Infrastructure Partners is jumping into the AI...

Higgsfield co-founder Alex Mashrabov attends the Higgsfield "Hell Grind" screening at Metro Private Cinema in New York City. Photo by Getty Images.

AI Video Startup in Talks to Quadruple Valuation to $5 Billion

By Valida Pau and Julia Hornstein · Jun 29, 2026 5:52pm PDT

Higgsfield co-founder Alex Mashrabov attends the Higgsfield "Hell Grind" screening at Metro Private Cinema in New York City. Photo by Getty Images.

AI Video Startup in Talks to Quadruple Valuation to $5 Billion

By Valida Pau and Julia Hornstein · Jun 29, 2026 5:52pm PDT

AI video startup Higgsfield AI is in talks with investors to raise $300 million to $500 million at a valuation of $5 billion before the investment, according to two people with knowledge of the fundraising efforts. A valuation at that level would be more than four times its valuation in a funding round in January, signaling demand for startups... AI video startup Higgsfield AI is in talks with investors to raise $300 million to $500 million...