The Information

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

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...

Eric Glyman, chief executive officer of Ramp. Image via Getty.

Ramp in Talks to Raise at $16 Billion Valuation in Round Led by Founders Fund

By Sri Muppidi and Natasha Mascarenhas · Jun 13, 2025 4:09pm PDT · 1 comment

Eric Glyman, chief executive officer of Ramp. Image via Getty.

Ramp in Talks to Raise at $16 Billion Valuation in Round Led by Founders Fund

By Sri Muppidi and Natasha Mascarenhas · Jun 13, 2025 4:09pm PDT · 1 comment

Ramp, a six-year-old corporate card and expense management startup, is in talks to raise money at a valuation of about $16 billion including the new investment, according to two people with direct knowledge of the fundraising. It is planning to raise about $200 million for the round, according to one of the people. The new funding would be... Ramp, a six-year-old corporate card and expense management startup, is in talks to raise money at...

Kore.ai CEO, Raj Koneru, left, and Intercom CEO, Eoghan McCabe. Screenshots via YouTube

AI Customer Support Startups Intercom, Kore.ai Discuss Multibillion-Dollar Valuations With Investors

By Stephanie Palazzolo and Sri Muppidi · Jun 13, 2025 3:05pm PDT · 1 comment

Venture capitalists can’t stop betting on startups that are developing artificial intelligence to automate customer support, including those that are on pace to generate more than $100 million in revenue annually. In the latest examples, Intercom, a customer support software startup founded in 2011, is in talks to sell more than $100 million in... Venture capitalists can’t stop betting on startups that are developing artificial intelligence to...

Waymo cars are seen parked at a Waymo facility on June 10 in San Francisco.

Waymo Fleet Manager Targets Funding That Would Lift Valuation Past $1 Billion

By Alex Perry and Sri Muppidi · Jun 12, 2025 12:38pm PDT · 1 comment

Moove, a five-year-old startup whose employees clean and charge Waymo’s electric robotaxis, is aiming to raise about $300 million in new funding, according to a person who spoke to the startup’s executives. The new round is likely to lift the Uber-backed company’s valuation past $1 billion, according to an investor in Moove. The startup recently... Moove, a five-year-old startup whose employees clean and charge Waymo’s electric robotaxis, is...

Navan CEO Ariel Cohen. Photo via AP.

Travel Software Startup Navan to File This Month for Fall IPO

By Cory Weinberg · Jun 12, 2025 12:05pm PDT

Navan, a corporate travel software startup, is planning to file confidentially for an initial public offering as early as next week, two people familiar with the matter said, a further sign of a rebound in public listings for venture-backed startups. The company, backed by Zeev Ventures, Lightspeed Venture Partners and Andreessen Horowitz, is... Navan, a corporate travel software startup, is planning to file confidentially for an initial...

Photo via Getty

Financial Markets Giant DTCC Explores a Stablecoin

By Yueqi Yang · Jun 12, 2025 8:00am PDT

Photo via Getty

Financial Markets Giant DTCC Explores a Stablecoin

By Yueqi Yang · Jun 12, 2025 8:00am PDT

A little-known company at the heart of the U.S. financial system is exploring issuing a stablecoin that could accelerate the use of digital assets across markets, according to people with knowledge of its plan. The Depository Trust and Clearing Corp., the clearinghouse that processes U.S. stock trades, would consider issuing a stablecoin if... A little-known company at the heart of the U.S. financial system is exploring issuing a...

Image via Getty

AWS to Revamp Key AI Cloud Service to Close Gap with Google

By Kevin McLaughlin · Jun 12, 2025 6:00am PDT

In March, when Amazon Web Services launched a new division focused on developing artificial intelligence that handles complex tasks, known as agents, CEO Matt Garman said in a memo that the technology could be the cloud provider’s next multibillion-dollar business. But some customers say rival cloud providers such as Google have made it easier... In March, when Amazon Web Services launched a new division focused on developing artificial...

Mark Zuckerberg (left) and Alexandr Wang. Photos via Getty; AP

Why Meta is Betting Nearly $15 Billion on Alexandr Wang

By Kalley Huang and Cory Weinberg · Jun 11, 2025 6:01pm PDT · 1 comment

Meta Platforms CEO Mark Zuckerberg has tried to fix a seemingly existential problem in recent months. His company’s large language model, Llama, was falling behind competitors and struggling to perform as well as models from OpenAI, particularly on complex tasks. Increasingly, Zuckerberg turned to an unlikely person for advice: Alexandr Wang,... Meta Platforms CEO Mark Zuckerberg has tried to fix a seemingly existential problem in recent...

Photo by Getty

OpenAI Has Discussed Raising Money From Saudi Arabia, Indian Investors

By Sri Muppidi · Jun 11, 2025 4:53pm PDT · 1 comment

OpenAI has talked to Saudi Arabia’s Public Investment Fund, Indian conglomerate Reliance Industries and existing shareholder United Arab Emirates’ MGX about investing in the next installment of its $40 billion financing led by SoftBank, according to two people familiar with the fundraise. The investors could put in at least hundreds of millions... OpenAI has talked to Saudi Arabia’s Public Investment Fund, Indian conglomerate Reliance...

Tareq Amin, CEO of Humain, and Jensen Huang, CEO of Nvidia, at the Saudi-U.S. Investment Forum in May. Screenshot via YouTube.

Saudi Arabia, Looking Homeward in AI Buildout, Taps Cisco and AMD for Cloud Project

By Miles Kruppa · Jun 11, 2025 1:21pm PDT

Tareq Amin, CEO of Humain, and Jensen Huang, CEO of Nvidia, at the Saudi-U.S. Investment Forum in May. Screenshot via YouTube.

Saudi Arabia, Looking Homeward in AI Buildout, Taps Cisco and AMD for Cloud Project

By Miles Kruppa · Jun 11, 2025 1:21pm PDT

Saudi Arabia is lining up new investors to fund its push to become a major player in artificial intelligence, snagging cash from Cisco Systems and AMD for a cloud project that is central to its efforts to refocus spending on domestic technology. “I’m working really hard to make sure we have a considerable sum of this capital come from external... Saudi Arabia is lining up new investors to fund its push to become a major player in artificial...

Nvidia CEO Jensen Huang via Getty

Nvidia Muscles Into GPU Cloud Market, Rankling New Rivals

By Anissa Gardizy · Jun 11, 2025 6:00am PDT

Nvidia recently debuted a cloud service enabling artificial intelligence developers to rent server chips directly from the chip designer, part of its push into the cloud market dominated by Amazon and Microsoft. In doing so, Nvidia is encroaching on the turf of CoreWeave and dozens of other up-and-coming firms that sell the same type of service.... Nvidia recently debuted a cloud service enabling artificial intelligence developers to rent...

image via Getty

Salesforce Blocks AI Rivals From Using Slack Data

By Kevin McLaughlin and Stephanie Palazzolo · Jun 10, 2025 6:40pm PDT · 16 comments

Slack, an instant-messaging service popular with businesses, recently blocked other software firms from searching or storing Slack messages even if their customers permit them to do so, according to a public disclosure from Slack’s owner, Salesforce. The move, which hasn’t previously been reported, could hamper fast-growing artificial... Slack, an instant-messaging service popular with businesses, recently blocked other software...

Sundar Pichai, CEO of Alphabet. Photo via Getty.

Google Offers Buyouts to Employees in Search and Ads, Other Units

By Miles Kruppa and Catherine Perloff · Jun 10, 2025 12:14pm PDT · 2 comments

Google is offering voluntary buyouts to employees across several businesses and units, including the knowledge and information organization, which houses the company’s core search and much of the ads organization, a senior executive told staff on Tuesday. The move comes as Google’s search business faces unprecedented threats from ChatGPT and... Google is offering voluntary buyouts to employees across several businesses and units, including...

Scale AI CEO Alexandr Wang

Meta to Pay Nearly $15 Billion for Scale AI Stake and Startup’s 28-Year-Old CEO

By Cory Weinberg · Jun 10, 2025 8:08am PDT · 10 comments

Scale AI CEO Alexandr Wang

Meta to Pay Nearly $15 Billion for Scale AI Stake and Startup’s 28-Year-Old CEO

By Cory Weinberg · Jun 10, 2025 8:08am PDT · 10 comments

Meta has agreed to take a 49% stake in data labeling firm Scale AI for $14.8 billion, two people familiar with the matter said. The unusual deal will be structured so Meta will send the cash to Scale’s existing shareholders and place the startup’s CEO, Alexandr Wang, in a top position inside Meta, the people said. The deal, which hasn’t yet been... Meta has agreed to take a 49% stake in data labeling firm Scale AI for $14.8 billion, two people...

President Donald Trump (left), Elon Musk and SEC Chair Paul Atkins. Photos via Getty

SEC Employees Brace For DOGE Restructuring, AI Push

By Sylvia Varnham O'Regan · Jun 10, 2025 6:00am PDT · 2 comments

Elon Musk may have parted ways with Washington and President Donald Trump, but employees from Musk’s Department of Government Efficiency are moving forward with a plan to restructure the Securities and Exchange Commission and bring artificial intelligence technology into the agency. The reorganization will begin to take shape over the next... Elon Musk may have parted ways with Washington and President Donald Trump, but employees from...

Chime’s IPO Will Have Big, Big Winners and Serious Losers

By Cory Weinberg and Natasha Mascarenhas · Jun 9, 2025 7:30am PDT

When Chime CEO Chris Britt pitched his company to venture capitalists a decade ago, he got a lot of handshakes and little money. Venture capitalists, he has said, were too rich to understand why low- or no-fee bank accounts would appeal to people living paycheck to paycheck. He said investors would question him: “What’s the problem? I don’t get... When Chime CEO Chris Britt pitched his company to venture capitalists a decade ago, he got a lot...

Frank Sands Jr., founder and CEO of Sands Capital.

How a Silicon Valley Newcomer Avoided the Meltdown in Startup Valuations

By Sri Muppidi · Jun 8, 2025 11:32am PDT · 5 comments

Dozens of investment funds that bet on mature startups before the Federal Reserve hiked interest rates in early 2022 got creamed. Not Sands Capital, which began investing in public stocks 33 years ago but decided to get into startup investing in 2014. The reason: The firm’s biggest late-stage private tech fund paused making investments in... Dozens of investment funds that bet on mature startups before the Federal Reserve hiked interest...

Art by Mike Sullivan

Nvidia’s Biggest Chinese Rival Huawei Struggles to Win at Home

By Qianer Liu · Jun 5, 2025 6:00am PDT

Art by Mike Sullivan

Nvidia’s Biggest Chinese Rival Huawei Struggles to Win at Home

By Qianer Liu · Jun 5, 2025 6:00am PDT

Nvidia CEO Jensen Huang has in the past months repeatedly warned, in both public speeches and closed-door meetings, of intensifying competition from China’s Huawei Technologies in the market for AI chips. In reality, Huawei is having a hard time convincing some of the biggest tech companies in China to use its chips. Chinese tech heavyweights... Nvidia CEO Jensen Huang has in the past months repeatedly warned, in both public speeches and...