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Photos via Getty, collage by Mike Sullivan

Google Convinces OpenAI to Use TPU Chips in Win Against Nvidia

By Anissa Gardizy and Qianer Liu · Jun 27, 2025 1:09pm PDT · 1 comment

OpenAI, one of the world’s biggest customers of Nvidia artificial intelligence chips, recently began renting Google’s AI chips to power ChatGPT and other products, the first time it has used non-Nvidia chips in a meaningful way, according to a person who is involved in the arrangement. The move reflects OpenAI’s broader shift away from relying... OpenAI, one of the world’s biggest customers of Nvidia artificial intelligence chips, recently...

Art by Mike Sullivan

Microsoft’s AI Chip Effort Falls Behind

By Wayne Ma and Qianer Liu · Jun 27, 2025 6:00am PDT · 1 comment

Microsoft has spent years designing its own artificial intelligence chips, in part to reduce its dependence on Nvidia. It isn’t going so well. The software giant, which Nvidia employees say was its largest customer by revenue last year, is taking much longer than expected to design its latest-generation AI chips, raising the possibility that the... Microsoft has spent years designing its own artificial intelligence chips, in part to reduce its...

Art by Mike Sullivan.

TikTok, Instagram Plot TV Apps Following YouTube’s Success

By Kaya Yurieff and Kalley Huang · Jun 26, 2025 12:01pm PDT

Rejoice, couch potatoes. TikTok and Instagram, following YouTube’s lead, are working on ways to make it easier for viewers to watch videos from their apps on TV screens. The social media giants see an opportunity to grab some of the ad dollars flowing to the streaming TV market. Meta Platforms’ leaders have said they are planning to develop a... Rejoice, couch potatoes. TikTok and Instagram, following YouTube’s lead, are working on ways to...

A DeepSeek advertisement in a technology store in Hong Kong. Photo via Getty.

DeepSeek’s Progress Stalled by U.S. Export Controls

By Qianer Liu and Juro Osawa · Jun 26, 2025 6:00am PDT · 4 comments

A DeepSeek advertisement in a technology store in Hong Kong. Photo via Getty.

DeepSeek’s Progress Stalled by U.S. Export Controls

By Qianer Liu and Juro Osawa · Jun 26, 2025 6:00am PDT · 4 comments

The latest round of U.S. chip export controls may have curbed DeepSeek’s rise, at least for now. DeepSeek’s highly anticipated upcoming large language model, R2, may not be as quickly and extensively adopted in China as its predecessor, the wildly popular R1, due to a shortage of Nvidia server chips in the country, according to employees of... The latest round of U.S. chip export controls may have curbed DeepSeek’s rise, at least for now....

Sam Altman, left, and Satya Nadella. Photos via Getty

OpenAI and Microsoft Duel Over AGI in High-Stakes Negotiation

By Aaron Holmes, Stephanie Palazzolo and Amir Efrati · Jun 25, 2025 3:01pm PDT · 6 comments

For the past three years, Microsoft has introduced a slew of new software tools, such as Copilot, by drawing on artificial intelligence developed by OpenAI. Under the terms of the software giant’s financial backing for OpenAI, Microsoft has access to the tech through 2030. The only risk was that OpenAI could move to cut off access if its board... For the past three years, Microsoft has introduced a slew of new software tools, such as Copilot,...

From left: Eric Trump, Donald Trump Jr., Mike Ho, (executive chairman of American Bitcoin) and Matt Prusak (CEO of American Bitcoin), at Bitcoin 2025 in Las Vegas. Photo via AP

Trump Family Crypto Partner Has Spotty Track Record

By Michael Roddan · Jun 25, 2025 6:00am PDT · 2 comments

Eric Trump is raising money to build what he predicts will be the world’s largest bitcoin-mining company. He’s teamed up with bitcoin miner Hut 8 to build the computing power he needs. “They can get projects done, you know, in half the time of other, you know, builders,” Trump said, announcing the partnership earlier this year. Trump’s newly... Eric Trump is raising money to build what he predicts will be the world’s largest bitcoin-mining...

OpenAI product chief Kevin Weil via Getty. Art by Clark Miller

OpenAI Quietly Designed a Rival to Google Workspace, Microsoft Office

By Amir Efrati and Natasha Mascarenhas · Jun 24, 2025 8:41am PDT

OpenAI has been gearing up to take on Google and Microsoft with features that let people collaborate on documents and communicate via chat in ChatGPT, according to two people who have seen the designs. Launching these features would pit OpenAI more directly against Microsoft, its biggest shareholder and business partner, as well as open a... OpenAI has been gearing up to take on Google and Microsoft with features that let people...

Art by Mike Sullivan.

Wall Street’s AI Embrace Leaves Plenty of Work for Junior Bankers

By Valida Pau · Jun 24, 2025 8:00am PDT

Art by Mike Sullivan.

Wall Street’s AI Embrace Leaves Plenty of Work for Junior Bankers

By Valida Pau · Jun 24, 2025 8:00am PDT

For junior investment bankers working 100-hour weeks, artificial intelligence can take care of the grunt work—up to a point. Interviews with half a dozen junior bankers suggest many Wall Street banks have leaned into using AI to help streamline their most menial tasks, including basic research such as asking a chatbot for public... For junior investment bankers working 100-hour weeks, artificial intelligence can take care of...

Photo via AP.

Polymarket Nears $200 Million Fundraising at Valuation Over $1 Billion

By Yueqi Yang · Jun 24, 2025 6:00am PDT

Polymarket, the world’s biggest prediction market, is nearing a deal to raise more than $200 million in a funding round that will value the company at over $1 billion, according to people familiar with the plan. Polymarket, founded in 2020 by CEO Shayne Coplan, rose to prominence last year by becoming the most popular platform for betting on the... Polymarket, the world’s biggest prediction market, is nearing a deal to raise more than $200...

Thinking Machines Lab CEO Mira Murati via Getty

How Ex-OpenAI CTO Murati’s Startup Plans to Compete With OpenAI and Others

By Stephanie Palazzolo, Erin Woo and Rocket Drew · Jun 23, 2025 3:23pm PDT · 4 comments

The thinking behind Thinking Machines Lab, a high-profile but mysterious artificial intelligence startup led by former OpenAI Chief Technology Officer Mira Murati, is becoming clearer. After raising an astonishing $2 billion at a $10 billion valuation from investors including Andreessen Horowitz less than five months after its founding, Murati... The thinking behind Thinking Machines Lab, a high-profile but mysterious artificial intelligence...

Photo via Getty.

Google Cuts Smart TV Budget as It Doubles Down on YouTube

By Sahil Patel · Jun 23, 2025 6:00am PDT · 2 comments

Google has cut its smart TV budget and trimmed its team—marking the most concrete signs yet of the company’s waning interest competing with the likes of Samsung and Roku as it centers its TV business around YouTube. The company has reduced the budget for Google TV and Android TV 10%, according to people familiar with the matter. This group... Google has cut its smart TV budget and trimmed its team—marking the most concrete signs yet...

Star Xu, founder and CEO of OKX. Photo via Getty

Crypto Is the Hottest Investment, in the Stock Market

By Yueqi Yang · Jun 22, 2025 6:00am PDT

Star Xu, founder and CEO of OKX. Photo via Getty

Crypto Is the Hottest Investment, in the Stock Market

By Yueqi Yang · Jun 22, 2025 6:00am PDT

Crypto is booming right now, but the rally is playing out in the stock market rather than on crypto exchanges. Shares of stablecoin issuer Circle are up eightfold since its initial public offering just over two weeks ago, and companies that hold bitcoin are getting valuations that are surprising even to industry insiders. Several big crypto... Crypto is booming right now, but the rally is playing out in the stock market rather than on...

Melanie Perkins, CEO and co-founder of Canva.

Canva, Generating Significant Cash, Discusses Share Offer at $37 Billion Valuation

By Sri Muppidi and Natasha Mascarenhas · Jun 20, 2025 3:30pm PDT

Canva is about to buy itself a little more time before a long-anticipated initial public offering. The Australian maker of design software is in talks to arrange a sale of shares held by current and former employees that would value the company at $37 billion, according to two people with knowledge of the fundraise. That’s just shy of its peak... Canva is about to buy itself a little more time before a long-anticipated initial public...

Nat Friedman. Photo via Microsoft

Meta in Talks to Hire AI Investors Friedman and Gross, Partially Buy Out Their Venture Fund

By Kalley Huang and Cory Weinberg · Jun 18, 2025 1:57pm PDT · 10 comments

Meta Platforms is in advanced talks to hire the prominent artificial intelligence investors Nat Friedman and Daniel Gross to help lead its AI efforts, according to a person familiar with the discussions. As part of those talks, Meta is in discussions about partially buying out Friedman and Gross’ venture capital fund, NFDG, which holds stakes in... Meta Platforms is in advanced talks to hire the prominent artificial intelligence investors Nat...

Mike Cessario, CEO of Liquid Death. Photo via Getty.

Liquid Death Seeks Fresh Cash to Ramp Up Production

By Ann Gehan and Cory Weinberg · Jun 18, 2025 9:29am PDT · 1 comment

Liquid Death has been looking to raise up to $20 million in fresh cash, as the longtime initial public offering hopeful looks to expand its production capacity and keep its drink lineup stocked in stores. The canned water and tea startup has been pitching the fundraise in the form of a convertible note, according to materials sent to prospective... Liquid Death has been looking to raise up to $20 million in fresh cash, as the longtime initial...

Art by Mike Sullivan

OpenAI Starts Selling ChatGPT at a Discount, Hurting Microsoft

By Aaron Holmes and Sri Muppidi · Jun 18, 2025 6:30am PDT · 3 comments

Art by Mike Sullivan

OpenAI Starts Selling ChatGPT at a Discount, Hurting Microsoft

By Aaron Holmes and Sri Muppidi · Jun 18, 2025 6:30am PDT · 3 comments

OpenAI has started discounting enterprise subscriptions to its ChatGPT app when customers agree to spend money on additional AI products, according to an OpenAI spokesperson and two executives at large firms that have spoken to the startup in recent weeks. The move has frustrated salespeople at Microsoft, OpenAI’s biggest business partner, which... OpenAI has started discounting enterprise subscriptions to its ChatGPT app when customers agree...

Art by Mike Sullivan

Amazon Plays Nice in AI Shopping—While Also Defending its Turf

By Theo Wayt · Jun 18, 2025 6:00am PDT · 1 comment

At Amazon, the rise of artificial intelligence tools that automate shoppers’ online purchases is raising a question: Should the company fight the startups that make these tools—or join them? The answer it’s leaning toward is maybe a bit of both. At Amazon, the rise of artificial intelligence tools that automate shoppers’ online purchases is...

Sam Altman, left, and Satya Nadella. Photo via Getty

OpenAI Seeks New Financial Concessions From Microsoft, a Top Shareholder

By Sri Muppidi and Aaron Holmes · Jun 16, 2025 6:49pm PDT · 4 comments

Negotiations between Microsoft and OpenAI over the startup’s plan to restructure its for-profit unit, which requires Microsoft’s approval, have entered their eighth month with no end in sight and new conflicts emerging. OpenAI wants Microsoft, the startup’s biggest outside shareholder, to have a roughly 33% stake in the reshaped unit in exchange... Negotiations between Microsoft and OpenAI over the startup’s plan to restructure its for-profit...

Scale AI CEO Alexandr Wang

Meta Agreed to Pay up for Scale AI but Then Wanted More for Its Money

By Cory Weinberg · Jun 16, 2025 12:37pm PDT · 4 comments

The negotiations started as just one billionaire tech founder talking to another. Meta Platforms CEO Mark Zuckerberg approached Scale AI CEO Alexandr Wang in mid-April about a potentially industry-shaking deal. Zuckerberg wanted Wang to join Meta and was willing to pay billions of dollars to make that happen. Zuckerberg floated a $5 billion... The negotiations started as just one billionaire tech founder talking to another. Meta Platforms...

Art by Mike Sullivan.

DoorDash and Uber’s Behind-the-Scenes Delivery Battles

By Ann Gehan · Jun 16, 2025 6:00am PDT

Art by Mike Sullivan.

DoorDash and Uber’s Behind-the-Scenes Delivery Battles

By Ann Gehan · Jun 16, 2025 6:00am PDT

A recent delivery dealmaking frenzy in Europe has kicked off a race between DoorDash, Uber and investment firm Prosus, as the three firms aim to grab more business in the already fiercely competitive market. Some of that has been playing out publicly, with a series of rapid-fire announcements. But behind the scenes, U.S. delivery archrivals... A recent delivery dealmaking frenzy in Europe has kicked off a race between DoorDash, Uber and...