The Information

Bolt co-founder Ryan Breslow. Photo by Getty.

Bolt Co-Founder Pulled Strings on Unusual Stock Buyback, Suit Alleges

By Abubakar Idris · Apr 17, 2024 6:00am PDT · 2 comments

When one-click checkout startup Bolt told investors it would buy back their shares at what amounted to a 97% discount on the company’s late 2021 fundraising, it wasn’t clear why the company would make such an unusual move. After all, Bolt was burning cash as revenue flatlined. A new lawsuit may provide an answer. Bolt co-founder Ryan... When one-click checkout startup Bolt told investors it would buy back their shares at what...

Arthur Mensch, founder of Mistral AI, in Paris on Nov. 17, 2023. Photo by Nathan Laine/Bloomberg via Getty Images.

Mistral, an OpenAI Rival in Europe, in Talks to Raise Capital at a $5 Billion Valuation

By Kate Clark · Apr 16, 2024 6:39pm PDT · 1 comment

Mistral, a Paris-based startup developing artificial intelligence that is open source, has been speaking to investors about raising several hundred million dollars at a valuation of $5 billion, according to a person with direct knowledge. The company, which has just recently begun to generate revenue, in December raised $415 million at a... Mistral, a Paris-based startup developing artificial intelligence that is open source, has been...

Tesla CEO Elon Musk speaks at the Tesla Giga Texas grand opening party in Austin on April 7, 2022. Photo by Suzanne Cordeiro/AFP via Getty Images

Before Tesla Layoffs, Musk Cranked Up Pressure Amid Sales Slump

By Becky Peterson · Apr 16, 2024 3:16pm PDT · 5 comments

When Elon Musk arrived at Tesla’s Austin, Texas, factory last week to tour an expansion project on the south side of the 10-million-square-foot facility, he was furious. The expansion was part of a high-priority project for Musk: a data center for Dojo, a supercomputer Tesla is developing. Dojo is necessary to make full self-driving... When Elon Musk arrived at Tesla’s Austin, Texas, factory last week to tour an expansion...

The Shopify retail store in New York City. Photo by AP.

Shopify Employees Go Head to Head for Raises in New Ranking System

By Ann Gehan · Apr 16, 2024 12:42pm PDT · 5 comments

The Shopify retail store in New York City. Photo by AP.

Shopify Employees Go Head to Head for Raises in New Ranking System

By Ann Gehan · Apr 16, 2024 12:42pm PDT · 5 comments

Some companies like to pit workers against each other to encourage them to pull out all the stops. At Shopify, a new employee ranking system rolled out in stages over the past year has, in the view of some employees, put that philosophy into action—by effectively making employees compete for pay rises. In recent months, Shopify has been... Some companies like to pit workers against each other to encourage them to pull out all the...

Art by Mike Sullivan

To Keep Viewers, Disney Plans a New Streaming Concept: Old-Style TV Channels

By Sahil Patel · Apr 15, 2024 8:00am PDT · 1 comment

In television, what’s old is new again. After more than a decade of growth in streaming services that make viewers click on shows they want to watch “on demand,” a growing number of streaming services are offering new “channels” that function more like old-style TV, with a continuous, scheduled stream of shows. ... In television, what’s old is new again. After more than a decade of growth in streaming...

Art by Clark Miller

Generative AI’s Open Secret: Everyone Is Copying Everyone Else

By Stephanie Palazzolo · Apr 15, 2024 6:00am PDT · 4 comments

It's the worst-kept secret in artificial intelligence. Many of the AI chatbots developed by startups were likely made using data from OpenAI and other firms, even though these startups are trying to undercut OpenAI, according to developers and founders. This practice has resulted in a startling competitive dynamic: Developers are charging... It's the worst-kept secret in artificial intelligence. Many of the AI chatbots developed by...

Photo by Noam Galai/Getty Images.

StubHub Plans Summer IPO in New Test of Market

By Cory Weinberg · Apr 12, 2024 7:00am PDT · 1 comment

Online ticketing marketplace StubHub is aiming to go public by late summer, people close to the company said, setting up another sizable internet initial public offering after Reddit’s IPO last month. And as StubHub has more than $2 billion in debt, many times its estimated profits, the company will test investors’ appetite for... Online ticketing marketplace StubHub is aiming to go public by late summer, people close to the...

OpenAI signage at the Mobile World Congress conference in Barcelona in February 2024. Photo by SIPA USA via AP.

OpenAI Researchers, Including Ally of Sutskever, Fired for Alleged Leaking

By Erin Woo and Stephanie Palazzolo · Apr 11, 2024 1:18pm PDT · 2 comments

OpenAI signage at the Mobile World Congress conference in Barcelona in February 2024. Photo by SIPA USA via AP.

OpenAI Researchers, Including Ally of Sutskever, Fired for Alleged Leaking

By Erin Woo and Stephanie Palazzolo · Apr 11, 2024 1:18pm PDT · 2 comments

OpenAI has fired two researchers for allegedly leaking information, according to a person with knowledge of the situation. They include Leopold Aschenbrenner, a researcher on a team dedicated to keeping artificial intelligence safe for society. Aschenbrenner was also an ally of OpenAI chief scientist Ilya Sutskever, who... OpenAI has fired two researchers for allegedly leaking information, according to a person...

Photo by Nikos Pekiaridis/NurPhoto via Getty Images.

Temu Flip-Flopped on Cotton Policy Meant to Weed Out Forced Labor, Suppliers Say

By Jing Yang · Apr 11, 2024 7:35am PDT · 1 comment

Temu, a China-founded bargain shopping app, has been under fire from U.S. lawmakers, who say it hasn’t done enough to stamp out the use of forced labor in its supply chain. Temu, for its part, has said it keeps close watch on the thousands of small manufacturers that make up its sprawling supplier base. But last year, Temu walked back a... Temu, a China-founded bargain shopping app, has been under fire from U.S. lawmakers, who say it...

Illustration of AI-generated influencers. Art by Shane Burke.

TikTok Plots Using Virtual Influencers for Advertising

By Erin Woo, Jing Yang and Juro Osawa · Apr 11, 2024 6:00am PDT

TikTok touts itself as a platform where creators can stand out and build a following. But the company has begun discussing with advertisers an artificial intelligence-powered feature that would generate avatars to star in videos—virtual influencers that would potentially compete with human creators for ad deals. The feature, which is... TikTok touts itself as a platform where creators can stand out and build a following. But the...

Amazon headquarters in Arlington, Va. Photo by Andrew Cabellero-Reynolds/AFP via Getty Images.

Amazon Lets Employees Swap Stock Grants for Cash

By Theo Wayt · Apr 10, 2024 1:20pm PDT · 3 comments

Amazon is giving its mid- and lower-level corporate employees a chance to decide how much they want to tie their future pay to the company’s stock performance. In May, Amazon will give many U.S. corporate employees the option of reducing the amount of stock they receive next year by a quarter in exchange for more cash, according to an... Amazon is giving its mid- and lower-level corporate employees a chance to decide how much they...

Art by Mike Sullivan.

TikTok Owner ByteDance Misled Regulators on Payments Probe

By Michael Roddan · Apr 10, 2024 10:07am PDT

Art by Mike Sullivan.

TikTok Owner ByteDance Misled Regulators on Payments Probe

By Michael Roddan · Apr 10, 2024 10:07am PDT

In early 2023, Irish banking regulators contacted ByteDance with a pointed question: Why was the Chinese internet giant and parent company of TikTok moving large sums of money, likely in the tens of millions of dollars, out of its HSBC bank accounts? ByteDance officials quickly sought to assuage their concerns by telling the Irish regulators it... In early 2023, Irish banking regulators contacted ByteDance with a pointed question: Why was the...

Meta Platforms to Launch Small Versions of Llama 3 Next Week

By Sylvia Varnham O'Regan · Apr 8, 2024 3:33pm PDT

Meta Platforms is planning to launch two small versions of its forthcoming Llama 3 large-language model next week, according to a Meta employee. The models will serve as a precursor to the launch of the biggest version of Llama 3, expected this summer. Release of the two small models will likely help spark excitement for the forthcoming Llama 3,... Meta Platforms is planning to launch two small versions of its forthcoming Llama 3 large-language...

TikTok Launches New Rewards App to Boost Growth

By Kaya Yurieff · Apr 8, 2024 12:32pm PDT · 1 comment

TikTok’s growth in Europe has slowed down so much that it’s rolling out a new app that gives people financial incentives to watch its videos. The Chinese-owned company is introducing a new app in Spain, France and other countries that will encourage users to watch videos, invite friends to sign up and perform other actions by... TikTok’s growth in Europe has slowed down so much that it’s rolling out a new app...

Katie Haun, founder of Haun Ventures. Photo by Bloomberg via Getty Images.

Haun Ventures Buys the Dip in Chainalysis

By Cory Weinberg · Apr 8, 2024 10:59am PDT

Haun Ventures raised $1.5 billion to invest in crypto startups just before the market collapsed and venture deals slowed dramatically. Now, as the crypto market shows signs of a recovery, Haun is getting active—quietly grabbing a stake in one of the industry’s most high-profile survivors at a steep discount to its peak valuation. The... Haun Ventures raised $1.5 billion to invest in crypto startups just before the market collapsed...

Art by Clark Miller. Demis photo via Getty

Google’s Demis Hassabis Chafes Under New AI Push

By Jon Victor · Apr 8, 2024 6:00am PDT · 7 comments

Art by Clark Miller. Demis photo via Getty

Google’s Demis Hassabis Chafes Under New AI Push

By Jon Victor · Apr 8, 2024 6:00am PDT · 7 comments

In early March, Google’s top artificial intelligence executive, Demis Hassabis, tried to rally his team’s spirits after a bruising few weeks. Google had just released Gemini, a chatbot powered by technology from Hassabis’ group and Google’s best shot yet at showing it could catch up to OpenAI’s buzzy ChatGPT.... In early March, Google’s top artificial intelligence executive, Demis Hassabis, tried to...

From left: Josh Kushner, Sam Altman, Jony Ive and Laurene Powell Jobs. Collage: Shane Burke. Photos via Getty

Jony Ive and Sam Altman’s AI Device Startup in Funding Talks With Emerson, Thrive

By Jessica E. Lessin, Kate Clark and Cory Weinberg · Apr 5, 2024 2:36pm PDT

A mysterious company started by former Apple designer Jony Ive and OpenAI CEO Sam Altman to launch an artificial intelligence-powered personal device has started funding talks with some of the biggest names in venture capital. The startup has discussed deals with Emerson Collective and Thrive Capital, a major investor in OpenAI, whose... A mysterious company started by former Apple designer Jony Ive and OpenAI CEO Sam Altman to...

Photo by Sjoerd van der Wal/Getty Images.

Musk’s xAI is Poaching Engineers From Tesla

By Becky Peterson · Apr 3, 2024 10:38am PDT

As Elon Musk builds his xAI artificial intelligence startup, he’s having to compete with big tech giants and a slew of other startups for talent. One place he’s managed to snare several promising engineers from, though, is close to home—Tesla. Last month, Tesla machine-learning scientist Ethan Knight became the third Tesla... As Elon Musk builds his xAI artificial intelligence startup, he’s having to compete with...

Tony Hoggett, Amazon's "grocery chief." Photos: Flickr/Tesco and Getty Images. Art: Shane Burke.

Amazon’s Grocery Stores to Drop Just Walk Out Checkout Tech

By Theo Wayt · Apr 2, 2024 6:00am PDT · 1 comment

Amazon’s grab-and-go checkout system, Just Walk Out, has been a centerpiece of its ambitions to transform bricks-and-mortar supermarkets. Now Amazon is gearing up to open a new batch of grocery stores after an 18-month pause—and it’s ditching the technology. Tony Hoggett, Amazon’s senior vice president of grocery stores,... Amazon’s grab-and-go checkout system, Just Walk Out, has been a centerpiece of its...

OpenAI CEO Sam Altman, left, and Microsoft CEO Satya Nadella. Photos via Getty. Art: Shane Burke

Microsoft and OpenAI Plot $100 Billion Stargate AI Supercomputer

By Anissa Gardizy and Amir Efrati · Mar 29, 2024 10:05am PDT · 13 comments

OpenAI CEO Sam Altman, left, and Microsoft CEO Satya Nadella. Photos via Getty. Art: Shane Burke

Microsoft and OpenAI Plot $100 Billion Stargate AI Supercomputer

By Anissa Gardizy and Amir Efrati · Mar 29, 2024 10:05am PDT · 13 comments

Executives at Microsoft and OpenAI have been drawing up plans for a data center project that would contain a supercomputer with millions of specialized server chips to power OpenAI’s artificial intelligence, according to three people who have been involved in the private conversations about the proposal. The project could cost as much... Executives at Microsoft and OpenAI have been drawing up plans for a data center project that...