The Information

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StubHub Missed Financial Targets Ahead of IPO

By Cory Weinberg · Aug 30, 2025 7:00am PDT · 1 comment

Even as StubHub makes a renewed push to go public, its business isn’t expanding as quickly as it had hoped. In the first half of this year, the ticketing app fell short of revenue and profit projections it shared with lenders earlier this year, in part due to new U.S. ticket pricing rules. The shortfall highlights the volatile nature of the... Even as StubHub makes a renewed push to go public, its business isn’t expanding as quickly as it...

Art by Clark Miller

Meta’s AI Leaders Discuss Using Google, OpenAI Models in Apps

By Kalley Huang and Stephanie Palazzolo · Aug 29, 2025 4:47pm PDT

Meta Platforms’ plans to improve the artificial intelligence features in its apps could lead the company to partner with Google or OpenAI, two of its biggest AI rivals. Leaders in Meta’s new AI organization, Meta Superintelligence Labs, have discussed using Google’s Gemini model to provide conversational, text-based answers to questions that... Meta Platforms’ plans to improve the artificial intelligence features in its apps could lead the...

CEO and founder of OpenEvidence, Daniel Nadler. Screenshot via YouTube.

‘ChatGPT for Doctors’ Startup Considers $6 Billion-Valuation Investment

By Stephanie Palazzolo and Natasha Mascarenhas · Aug 29, 2025 4:00pm PDT · 2 comments

OpenEvidence, which operates a ChatGPT-like product for doctors to find health information, is considering multiple investment offers valuing the three-year-old startup at $6 billion, nearly double its private valuation from a financing just one month ago, according to three people involved in the potential deal. The funding conversations are... OpenEvidence, which operates a ChatGPT-like product for doctors to find health information, is...

Art via Mike Sullivan

DeepSeek Opts for Huawei Chips to Train Some Models

By Qianer Liu and Juro Osawa · Aug 29, 2025 6:00am PDT

Art via Mike Sullivan

DeepSeek Opts for Huawei Chips to Train Some Models

By Qianer Liu and Juro Osawa · Aug 29, 2025 6:00am PDT

DeepSeek, one of China’s leading artificial intelligence developers, has decided to use Huawei Technologies’ AI chips to train some of its AI models, a sign it is reducing its reliance on Nvidia chips, according to three people with knowledge of the effort. The move follows pressure by the Chinese government on local tech companies to use... DeepSeek, one of China’s leading artificial intelligence developers, has decided to use Huawei...

Edo Liberty, founder and CEO of Pinecone. Screenshot via TedAI San Francisco.

Top-Funded AI Database Startup Pinecone Considers a Sale

By Valida Pau, Stephanie Palazzolo and Kevin McLaughlin · Aug 28, 2025 6:05pm PDT · 1 comment

When the artificial intelligence boom began a few years ago, investors flocked to startups that helped businesses transform and store proprietary data in a format AI could understand, known as a vector database. The technology allowed businesses to use a customized AI chatbot to search or analyze their customer and sales information. Since then,... When the artificial intelligence boom began a few years ago, investors flocked to startups that...

Art by Mike Sullivan

How Google Is Preparing to Make Ad Tech Unit Independent

By Catherine Perloff · Aug 28, 2025 6:00am PDT

Less than a month from now, a federal court in Virginia will begin hearing an antitrust case that could determine whether Google has to spin off part of its advertising tech business into an independent company. But Google isn’t waiting for the decision to help that group become a more viable stand-alone business. Last month, for example, Google... Less than a month from now, a federal court in Virginia will begin hearing an antitrust case that...

Nvidia CEO Jensen Huang, left, and Vast Data CEO Renen Hallak. Photos via Getty

How Nvidia Anointed a Data Storage Startup as an AI Darling

By Kevin McLaughlin, Valida Pau and Anissa Gardizy · Aug 27, 2025 6:00am PDT · 1 comment

Nvidia reshaped the cloud computing market by giving upstart cloud providers a lot of artificial intelligence chips. Now it is extending its influence into another cloud field: data storage. Nvidia has invested multiple times in Vast Data, which sells software to firms such as Elon Musk’s xAI and videoconference maker Zoom for storing data in a... Nvidia reshaped the cloud computing market by giving upstart cloud providers a lot of artificial...

OpenAI CEO Sam Altman. Art by Clark Miller; image via Getty.

OpenAI Employee Stock Sale Could Rise to $8 billion

By Sri Muppidi · Aug 26, 2025 7:19pm PDT

OpenAI CEO Sam Altman. Art by Clark Miller; image via Getty.

OpenAI Employee Stock Sale Could Rise to $8 billion

By Sri Muppidi · Aug 26, 2025 7:19pm PDT

OpenAI’s plan to allow employees and former staff to sell $6 billion in private stock to investors was already slated to become one of the biggest such employee tenders in Silicon Valley history. Now, that sale could be even bigger. The ChatGPT maker will allow current and former employees to sell up to $8 billion at a valuation of... OpenAI’s plan to allow employees and former staff to sell $6 billion in private stock...

Tim Cook, left, and Eddy Cue. Photos via Getty. Art by Mike Sullivan

Apple’s Aversion to Big Deals Could Thwart Its AI Push

By Aaron Tilley, Wayne Ma and Valida Pau · Aug 26, 2025 7:00am PDT · 5 comments

This summer, investment bankers came knocking on Apple’s door with a pitch: Was the iPhone maker interested in doing a major acquisition or some other kind of deal in artificial intelligence? So far, the only answer it has given them is: not so much. In the current AI frenzy, nearly all of Apple’s peers in big tech have thrown open their... This summer, investment bankers came knocking on Apple’s door with a pitch: Was the iPhone maker...

Neil Shen, founding partner of HongShan. Photo via Getty

Neil Shen’s HongShan Is Slow to Deploy Its $9 Billion Capital, Looks for Deals Outside China

By Jing Yang and Juro Osawa · Aug 26, 2025 6:00am PDT · 1 comment

When venture capital giant Sequoia decided to carve off Sequoia China two years ago in response to growing tensions between the U.S. and China, the newly independent China firm was expected to continue pouring its huge funds into Chinese startups. Renamed HongShan (Mandarin for Sequoia), the firm had only a year earlier raised what was then a... When venture capital giant Sequoia decided to carve off Sequoia China two years ago in response...

Pantera founder, Dan Morehead. Photo via Getty

Crypto Fund Pantera Seeks to Raise Up to $1.25 Billion for Solana Deal

By Yueqi Yang · Aug 25, 2025 2:06pm PDT · 1 comment

Crypto fund manager Pantera is seeking to raise as much as $1.25 billion to convert a public company into a solana investment firm, as a flood of companies race to cash in on the latest hot crypto sector. Pantera, founded by Dan Morehead, a former trader at Goldman Sachs and Tiger Global Management, is one of the largest and oldest crypto asset... Crypto fund manager Pantera is seeking to raise as much as $1.25 billion to convert a public...

Photo via Faire

E-Commerce Startup Faire Targets $500 Million in Revenue

By Ann Gehan and Natasha Mascarenhas · Aug 25, 2025 6:00am PDT

Photo via Faire

E-Commerce Startup Faire Targets $500 Million in Revenue

By Ann Gehan and Natasha Mascarenhas · Aug 25, 2025 6:00am PDT

In 2022, Faire became one of the most highly priced e-commerce startups, with a valuation of $12.6 billion, as the online marketplace benefited from a surge in internet sales during the pandemic. But after e-commerce growth cooled with waning Covid-19 restrictions, the company in late 2023 slashed its internal valuation to $5 billion, according... In 2022, Faire became one of the most highly priced e-commerce startups, with a valuation of...

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Nvidia Orders Halt to H20 Production After China Directive Against Purchases

By Qianer Liu · Aug 21, 2025 4:59pm PDT · 2 comments

Nvidia has told some of its component suppliers to suspend production work related to the H20, its chip tailor-made for the Chinese market, according to two people with direct knowledge of the communications. The directive comes weeks after the Chinese government told local tech companies to stop buying the chips due to alleged security... Nvidia has told some of its component suppliers to suspend production work related to the H20,...

Art by Clark Miller

Meta Signs $10 Billion-Plus Cloud Deal With Google

By Kevin McLaughlin and Kalley Huang · Aug 21, 2025 3:48pm PDT · 2 comments

Google has struck a major cloud computing deal with Meta Platforms, according to two people familiar with the matter. As part of the agreement, the social media giant will use Google Cloud’s servers, storage, networking and other services, one of the people said. The deal—worth more than $10 billion over six years, the person said—is... Google has struck a major cloud computing deal with Meta Platforms, according to two people...

Google CEO Sundar Pichai, left, and Sam Altman. Photos via Getty

OpenAI Is Challenging Google—While Using Its Search Data

By Amir Efrati, Stephanie Palazzolo and Natasha Mascarenhas · Aug 21, 2025 2:42pm PDT · 1 comment

As it tries to unseat Google, OpenAI is relying on search data from an unlikely source: Google. OpenAI has been using Google search results scraped from the web to help power ChatGPT responses, according to two people with knowledge of it. As it tries to unseat Google, OpenAI is relying on search data from an unlikely source: Google. ...

Crusoe CEO Chase Lochmiller speaks onstage at the All-In and Hill & Valley Forum on July 23 in Washington, D.C. Image via Getty.

OpenAI’s Data Center Provider in Talks to Raise Money at $10 Billion Valuation

By Anissa Gardizy and Natasha Mascarenhas · Aug 21, 2025 8:44am PDT

Crusoe CEO Chase Lochmiller speaks onstage at the All-In and Hill & Valley Forum on July 23 in Washington, D.C. Image via Getty.

OpenAI’s Data Center Provider in Talks to Raise Money at $10 Billion Valuation

By Anissa Gardizy and Natasha Mascarenhas · Aug 21, 2025 8:44am PDT

Crusoe, the developer behind OpenAI’s first Stargate data center, is discussing raising funds at a $10 billion valuation—more than three times its valuation less than a year ago, according to two people with direct knowledge of the fundraising talks. The seven-year-old company wants to raise at least $1 billion to fulfill its ambitions to... Crusoe, the developer behind OpenAI’s first Stargate data center, is discussing raising funds at...

Character AI CEO Karandeep Anand. Photo via Flickr/Fortune.

Character.AI in Talks to Sell or Raise Money, a Year After Founders Depart

By Natasha Mascarenhas, Kalley Huang and Valida Pau · Aug 20, 2025 6:00am PDT · 1 comment

Character.AI, the chatbot maker whose founders Google hired as part of a $2.7 billion deal last August, has in recent weeks discussed a sale of the company with potential buyers, bankers and staff, according to three people who have spoken to its executives. The nearly four-year-old startup could try to stick it out as an independent company... Character.AI, the chatbot maker whose founders Google hired as part of a $2.7 billion deal last...

World Liberty Financial co-founder Donald Trump Jr. (left), is joined at the Nasdaq MarketSite in Times Square by Zach Witkoff, the incoming chairman of Alt5 Sigma (center) and incoming Alt5 Sigma board director Eric Trump (right). Photo by Getty

Trump Partner in Crypto Venture Faces SEC Allegations

By Michael Roddan · Aug 19, 2025 10:15am PDT · 1 comment

The Trump family has partnered with a father-son duo with a history of run-ins with financial regulators for a deal to sell $1.5 billion of its crypto tokens. A biotech turned crypto company called Alt5 Sigma will sell $1.5 billion of stock and use the money to buy the crypto token created by World Liberty Financial, founded by Donald Trump Jr.... The Trump family has partnered with a father-son duo with a history of run-ins with financial...

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To Court Big Brands, Walmart Throws Some Smaller Merchants Under the Bus

By Ann Gehan · Aug 18, 2025 6:00am PDT · 3 comments

For nearly 25 years, Tracey Shelley, an online merchant who sells products like Olay moisturizer, Coppertone sunscreen and Dr. Squatch deodorant, operated mainly on Amazon’s marketplace. But in the past few years, Shelley said she shifted nearly half her business to Walmart, as the retailer lobbied online sellers to sell on its site. In its... For nearly 25 years, Tracey Shelley, an online merchant who sells products like Olay moisturizer,...

Lyten bought Northvolt's battery plants in Poland on left, Sweden right. Images via Getty

The Inside Story of How a Tiny California Startup Grabbed Europe’s Battery Giant

By Steve LeVine · Aug 17, 2025 1:00pm PDT · 1 comment

Lyten bought Northvolt's battery plants in Poland on left, Sweden right. Images via Getty

The Inside Story of How a Tiny California Startup Grabbed Europe’s Battery Giant

By Steve LeVine · Aug 17, 2025 1:00pm PDT · 1 comment

Until last year, things looked pretty good for Northvolt, a Sweden-based battery startup that Europeans saw as their answer to Tesla. The company had vacuumed up $13 billion in capital from largely blue-chip investors and taken $55 billion in battery orders from major carmakers like BMW, Volkswagen and Volvo. Northvolt executives spoke of going... Until last year, things looked pretty good for Northvolt, a Sweden-based battery startup that...