The Briefing by Martin Peers, Jessica Lessin and the team at The Information

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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

Get smarter about the day’s news in tech, media and finance by following Silicon Valley’s most-read executive newsletter.

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Recent Editions

OpenAI CEO Sam Altman. Anna Moneymaker/Getty Images.

OpenAI, Forecasts and Guesses

By Martin Peers · Apr 9, 2026 5:00pm PDT · 2 comments

Here’s a suggestion for OpenAI’s management: Stop issuing long-range revenue forecasts to investors. While we at The Information love getting our hands on these, as they make for good stories, it’s doubtful they’re doing OpenAI much good. How can anyone take seriously forecasts for revenue reaching as far out as 2030? (OpenAI projects total... Here’s a suggestion for OpenAI’s management: Stop issuing long-range revenue forecasts to...

Meta's Alexandr Wang. Ludovic Marin/AFP/Getty.

Meta Tries to Light a Fire in AI Market

By Martin Peers · Apr 8, 2026 5:00pm PDT

Guess what: Meta Platforms is still in the AI model game. You might have forgotten that fact, given that it’s been a little while since we’ve seen much new on the AI front from the Facebook owner. But CEO Mark Zuckerberg took to Threads on Wednesday to reveal the new model family, known as Muse, and its first member, Spark. Meta stock... Guess what: Meta Platforms is still in the AI model game. You might have forgotten that fact,...

Anthropic co-founder and president, Daniela Amodei. Bridget Bennett/Bloomberg/Getty Images.

Anthropic’s Revenue Growth Suggests OpenAI Is Overvalued

By Martin Peers · Apr 7, 2026 5:00pm PDT

The sooner Anthropic and OpenAI go public, the better—at least then we’d have proper financial disclosure. Both companies’ habit of updating the public on their revenue growth by references to either monthly revenue or annualized revenue, which is (loosely speaking) the last month’s revenue multiplied by 12, is getting old. And it’s not exactly... The sooner Anthropic and OpenAI go public, the better—at least then we’d have proper financial...

OpenAI CFO Sarah Friar and CEO Sam Altman. Kyle Grillot/Bloomberg/Getty Images.

OpenAI’s Never-Ending Soap Opera

By Martin Peers · Apr 6, 2026 5:00pm PDT · 2 comments

OpenAI CFO Sarah Friar and CEO Sam Altman. Kyle Grillot/Bloomberg/Getty Images.

OpenAI’s Never-Ending Soap Opera

By Martin Peers · Apr 6, 2026 5:00pm PDT · 2 comments

What’s the bet that OpenAI’s senior management team undergoes a shake-up before the company goes public? On Sunday, The Information reported that finance chief Sarah Friar has concerns about OpenAI’s readiness to go public and its ability to support its AI server commitments. And on Monday, The New Yorker published a long profile of CEO Sam... What’s the bet that OpenAI’s senior management team undergoes a shake-up before the company goes...

Michael M. Santiago/Getty Images.

What the Coming Big IPOs Mean for Tech Stocks

By Martin Peers · Apr 5, 2026 3:00pm PDT

The first quarter is over, and tech earnings season is only a couple of weeks away. Here’s something worth thinking about: Big tech stocks out of favor with investors—particularly Microsoft, Amazon and Meta Platforms—need to show something striking when they report for the quarter if they want to get out of the doghouse they’re in.If they don’t,... The first quarter is over, and tech earnings season is only a couple of weeks away. Here’s...

TBPN hosts John Coogan (left) and Jordi Hays. Photo courtesy of TBPN.

Why OpenAI's TBPN Deal is No Joke

By Martin Peers · Apr 2, 2026 5:00pm PDT · 2 comments

OpenAI’s shuttering of Sora wasn’t meant to be the end of its adventures in video generation, it turns out. Instead of using AI to generate videos, OpenAI wants to use videos to drive AI adoption.That’s one way of looking at the company’s rather startling decision on Thursday to buy TBPN, the Silicon Valley talk show that specializes in schmoozy... OpenAI’s shuttering of Sora wasn’t meant to be the end of its adventures in video generation, it...

OpenAI CEO Sam Altman. Nathan Laine/Bloomberg via Getty Images

Mixed OpenAI Investor Signals

By Cory Weinberg · Apr 1, 2026 5:00pm PDT

Four months ago, Sam Altman got testy with one of his own investors, Altimeter Capital’s Brad Gerstner, in a podcast soundbyte heard round the world. “Brad, if you want to sell your shares, I’ll find you a buyer,” Altman said.Indeed, he seems to have found plenty of buyers. Four months ago, Sam Altman got testy with one of his own investors, Altimeter Capital’s Brad...

OpenAI CEO Sam Altman. Anna Moneymaker/Getty Images.

OpenAI’s Fundraising; The (Dismal) IPO Class of 2021

By Martin Peers · Mar 31, 2026 5:00pm PDT

OpenAI CEO Sam Altman. Anna Moneymaker/Getty Images.

OpenAI’s Fundraising; The (Dismal) IPO Class of 2021

By Martin Peers · Mar 31, 2026 5:00pm PDT

Happy days are here again! Stocks have rallied, thanks to upbeat headlines concerning the Iran war. Don’t get too comfortable—things are likely to change quickly. In fact, the Iranians are threatening to attack U.S. tech facilities in the Middle East. Meanwhile, we got news today on a variety of fronts concerning Microsoft, Nvidia and Anthropic... Happy days are here again! Stocks have rallied, thanks to upbeat headlines concerning the Iran...

Traders on the New York Stock Exchange floor. Michael Nagle/Getty Images.

Nvidia Stock is Cheap—What That Signals

By Martin Peers · Mar 30, 2026 5:00pm PDT · 3 comments

Here’s a startling statistic: The last time Amazon shares traded as cheaply as they are now, as a multiple of earnings, was during the 2008 financial crisis, according to Koyfin data. Indeed, Amazon’s stock is so cheap that it’s trading at a discount to Walmart for the first time ever. Considering that Amazon’s revenue is growing at roughly... Here’s a startling statistic: The last time Amazon shares traded as cheaply as they are now, as a...

Elon Musk. Stefani Reynolds/Bloomberg via Getty Images.

SpaceX’s IPO Challenge

By Martin Peers · Mar 29, 2026 3:00pm PDT

Break out the oxygen masks. The number of breathless headlines is about to soar. SpaceX is expected to file its initial IPO paperwork with the Securities and Exchange Commission any day now. It will be the confidential version, so we won’t get to see it. But what is usually a procedural nonevent for the public has turned into a carnival thanks... Break out the oxygen masks. The number of breathless headlines is about to soar. SpaceX is...

The Los Angeles Superior Court on Tuesday. Genaro Molina/LA Times/Getty Images.

Social Media’s New Legal Overhang

By Martin Peers · Mar 26, 2026 5:00pm PDT

It was a brutal day on Wall Street—particularly for shares of Meta Platforms, Reddit and Snap. While the Nasdaq dropped 2.4%, shares of the social media firms plunged between 8% and 10% as the implications of Wednesday’s verdict in the social media addiction lawsuit sank in. That verdict, which found Meta and Google’s YouTube liable for... It was a brutal day on Wall Street—particularly for shares of Meta Platforms, Reddit and Snap....

The plaintiff's family and attorney react to the news that the jury has found Meta and YouTube liable in the social media addiction trial in Los Angeles Superior Court. Frederic J. Brown / AFP via Getty Images.

Meta’s Future Value and the Social Media Verdict

By Martin Peers · Mar 25, 2026 5:00pm PDT

The plaintiff's family and attorney react to the news that the jury has found Meta and YouTube liable in the social media addiction trial in Los Angeles Superior Court. Frederic J. Brown / AFP via Getty Images.

Meta’s Future Value and the Social Media Verdict

By Martin Peers · Mar 25, 2026 5:00pm PDT

Talk about bad timing. Meta Platforms made a big splash on Tuesday night by disclosing new stock grants for senior executives that fully pay out only if the company’s market capitalization rises above $9.4 trillion by 2031, from $1.5 trillion now. Hours later, on Wednesday, we scooped the news that Meta was laying off hundreds of people. And... Talk about bad timing. Meta Platforms made a big splash on Tuesday night by disclosing new stock...

Photos via Getty Images

OpenAI Wrongfoots Disney

By Martin Peers and Ann Gehan · Mar 24, 2026 5:00pm PDT

Walt Disney Co. must be so glad it committed to investing $1 billion in OpenAI and becoming a customer of the ChatGPT creator. The theme park and entertainment firm agreed to both steps as part of a deal struck last December in which it licensed its characters for use on OpenAI’s Sora video-generation tool. On Tuesday, OpenAI decided to shut... Walt Disney Co. must be so glad it committed to investing $1 billion in OpenAI and becoming a...

Zhang Weiguo/VCG/Getty Images.

Google’s Gemini Steals a March on OpenAI

By Martin Peers · Mar 23, 2026 5:00pm PDT

When invading a hostile territory or testing a new AI service, it’s best to move quietly and steal a march on your opponents. Google appears to have learned that lesson. It’s now possible, if you’ve got its latest Pixel or Samsung phones, to ask the Gemini app to order an Uber or a meal on DoorDash. I tried it today and it worked flawlessly, if... When invading a hostile territory or testing a new AI service, it’s best to move quietly and...

Joan Cros/Getty Images.

Stock Comp and Software’s Illusory Profits

By Martin Peers · Mar 22, 2026 3:00pm PDT · 1 comment

Memo to software executives: Now is the time to radically reduce the amount of stock you give employees. That would win you some favor with investors, who’ve generally gone off your sector thanks to worries about the threat posed by AI. Even if those concerns are overblown, cutting costs in the face of a major disruption is a smart idea.It’s no... Memo to software executives: Now is the time to radically reduce the amount of stock you give...

David Paul Morris/Bloomberg via Getty Images.

Uber’s Self-Driving Car Quest

By Martin Peers · Mar 19, 2026 5:00pm PDT

David Paul Morris/Bloomberg via Getty Images.

Uber’s Self-Driving Car Quest

By Martin Peers · Mar 19, 2026 5:00pm PDT

For all the attention Nvidia gets for its relentless pace of new business partnerships, it can’t hold a candle to Uber. The ride-hailing giant seems to be on a quest to go into business with anyone who’s ever thought about developing a self-driving car. On Thursday, it announced a robotaxi deal with Rivian, the electric truck maker that is... For all the attention Nvidia gets for its relentless pace of new business partnerships, it can’t...

Apple CEO Tim Cook. Ludovic Marin/AFP/Getty Images.

Apple’s App Store Rules Are Stuck In Past

By Aaron Tilley · Mar 18, 2026 5:00pm PDT

It may be time for Apple to update the rules for its App Store. As we reported in this story today, app developers making apps that allow vibe coding—AI tools that let people without coding experience create apps easily—have run into delays getting their apps approved. Slowing down that process isn’t a good look for Apple, which has faced plenty... It may be time for Apple to update the rules for its App Store. As we reported in this story...

Fidji Simo, CEO of Applications at OpenAI. David Paul Morris/Bloomberg via Getty Images Message Shane Burke

OpenAI, Musk and Focus

By Martin Peers · Mar 17, 2026 5:00pm PDT

OpenAI has decided the “everything everywhere all at once” strategy isn’t ideal, after all. As we and others reported on Monday night, senior OpenAI executive Fidji Simo told staffers last week that the company needed to “refocus on business customers and cut down on side quests that were becoming a distraction.” (Is that the understatement of... OpenAI has decided the “everything everywhere all at once” strategy isn’t ideal, after all. As we...

Meta CEO Mark Zuckerberg. David Paul Morris/Bloomberg via Getty Images.

What Meta’s Nebius Deal Signals

By Martin Peers · Mar 16, 2026 5:00pm PDT · 3 comments

If you’ve got a ticket on the AI gravy train, times are good. That could be because you’re a supplier to Nvidia—and therefore enjoying booming business, as Nvidia CEO Jensen Huang pointed out in his speech on Monday at the company’s GTC convention. Or it could be because you’re a small data center operator picking up business from a big tech... If you’ve got a ticket on the AI gravy train, times are good. That could be because you’re a...

Nvidia CEO Jensen Huang. Patrick T. Fallon/Getty Images.

What to Expect From GTC: Nvidia’s Groq Chip

By Qianer Liu and Anissa Gardizy · Mar 15, 2026 3:00pm PDT

Nvidia CEO Jensen Huang. Patrick T. Fallon/Getty Images.

What to Expect From GTC: Nvidia’s Groq Chip

By Qianer Liu and Anissa Gardizy · Mar 15, 2026 3:00pm PDT

It’s party time in San Jose, Calif.! Nvidia on Monday kicks off its annual GTC developer conference in the city, the biggest event on the chip giant’s calendar—which, given the number of public events featuring its CEO, Jensen Huang, is saying something. Huang is scheduled to deliver his keynote tomorrow morning, and it is sure to be a... It’s party time in San Jose, Calif.! Nvidia on Monday kicks off its annual GTC developer...