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Politics and Policy

Inside Crypto’s Washington Command Center—and Blitz for Legitimacy

By Yueqi Yang · May 23, 2026 7:01am PDT

The most important real-world address in all of crypto may very well be 1155 F Street in Washington. The location is a 12-story, glass-paneled office tower that has quickly become the industry’s command center in its bid for securing greater sway in the nation’s capital. Nearly everyone who matters in crypto lobbying efforts has set up shop... The most important real-world address in all of crypto may very well be 1155 F Street in...

SpaceX's new Starship V3 rocket docked on May 21 in South Padre Island, Texas. Ronaldo Schemidt/AFP/Getty.

Why SpaceX is Worth $700 Billion, Not $1.75 Trillion

By Martin Peers · May 21, 2026 5:01pm PDT · 9 comments

If SpaceX pulls off what is widely described in the news media as the “largest IPO in history” next month, it will be a testament to Elon Musk’s skills as a salesman. The company’s newly public IPO prospectus makes it plain that SpaceX is largely a telecom firm with a rocket launch business on the side, with future growth coming from a cloud... If SpaceX pulls off what is widely described in the news media as the “largest IPO in history”...

Photo of Donald Trump via Getty Images. Art by Mike Sullivan

White House Briefs AI Companies on Plan to Review Models Before Release

By Leo Schwartz and Stephanie Palazzolo · May 20, 2026 12:06pm PDT · 2 comments

The White House’s Office of the National Cyber Director hosted a briefing Tuesday for companies including OpenAI, Anthropic and Reflection AI on a planned executive order on AI that will empower intelligence and other government agencies to review advanced models before the models are released, according to people familiar with the matter. ... The White House’s Office of the National Cyber Director hosted a briefing Tuesday for companies...

Michael Nagle/Bloomberg via Getty Images.

Cerebras IPO Stock Pop; Apple-OpenAI Drama

By Martin Peers · May 14, 2026 5:00pm PDT

Michael Nagle/Bloomberg via Getty Images.

Cerebras IPO Stock Pop; Apple-OpenAI Drama

By Martin Peers · May 14, 2026 5:00pm PDT

This was quite the day. OpenAI is jumping up and down about its unhappiness with Apple (it’s doubtful Tim Cook is shaking in his boots). Big telecom threw down the gauntlet to Elon Musk and Amazon (not that they should worry). We get to both news items lower down. But first…the AI trade on Wall Street is booming, as demonstrated by today's... This was quite the day. OpenAI is jumping up and down about its unhappiness with Apple (it’s...

Amazon HQ in Seattle. Getty Images.

Amazon’s AI Shopping Overhaul

By Martin Peers · May 13, 2026 5:00pm PDT · 1 comment

Remember Bard? It was the original name of Google’s AI chatbot, but the Gemini brand long ago replaced it. Just as you’ve likely forgotten that history, you’re not likely to remember Rufus in 12 months’ time, either. Rufus, the name of Amazon’s AI-powered shopping chatbot, got tossed on Wednesday and replaced with Amazon’s well-established Alexa... Remember Bard? It was the original name of Google’s AI chatbot, but the Gemini brand long ago...

Senators Thom Tillis, left, and Angela Alsobrooks. Photos via Getty Images.

The Information Finance

Can Crypto Beat the Banks and Win Over Washington?

By Ken Brown · May 13, 2026 8:00am PDT

This is a critical week for the crypto industry. The most important crypto law ever to hit Congress is about to take a big step forward, and with the crypto market in the doldrums, the timing couldn’t be better.This could be the last chance for the long-delayed bill to become law, as vacations and election season suck up much of the rest of the... This is a critical week for the crypto industry. The most important crypto law ever to hit...

Coreweave CEO Michael Intrator. Getty Images.

CoreWeave’s Balancing Act

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

If you’re getting dizzy watching CoreWeave’s balancing act, you’re not alone. The AI cloud startup reported first-quarter numbers Thursday evening showing that its business is ramping up quickly—revenue doubled in the quarter to $2 billion compared to the year-earlier period—but its investment spending and operating expenses are also taking off.... If you’re getting dizzy watching CoreWeave’s balancing act, you’re not alone. The AI cloud...

Microsoft's Pavan Davuluri. Chona Kasinger/Bloomberg/Getty Images.

Microsoft Cuts Copilot Bloat

By Aaron Holmes · May 7, 2026 10:30am PDT

Microsoft's Pavan Davuluri. Chona Kasinger/Bloomberg/Getty Images.

Microsoft Cuts Copilot Bloat

By Aaron Holmes · May 7, 2026 10:30am PDT

After Microsoft bought the rights to use OpenAI’s technology for free, Microsoft developed a case of Copilot fever, launching Copilot-branded AI features in dozens of products, from Office and Bing to PowerBI and Dynamics. Microsoft appears to be dialing it back a bit, seemingly in response to complaints from customers that the Copilots are... After Microsoft bought the rights to use OpenAI’s technology for free, Microsoft developed a case...

Binance's Yi He, left, and Richard Teng. Photos by Getty Images

Treasury Department Demands Binance Compliance After Iran Crypto Reports

By Leo Schwartz · May 7, 2026 9:05am PDT

The U.S. Department of the Treasury has privately demanded that Binance comply with a monitoring program U.S. regulators imposed on the crypto exchange in 2023, when it pleaded guilty to charges related to sanctions and anti–money-laundering violations, The Information has learned. The Treasury Department’s request—which it sent to... The U.S. Department of the Treasury has privately demanded that Binance comply with a monitoring...

Art by Mike Sullivan; Shutterstock

Rising AI Costs Are Becoming a Problem For Even Investors

By Stephanie Palazzolo · May 6, 2026 7:00am PDT

In recent months, a lot of discussion has centered around the rising costs of AI, with even large, sophisticated public companies like Uber blowing through their 2026 AI budgets in a matter of months.Even venture capitalists are feeling the pain. One partner at a large fund told me that they previously gave five of their staffers enterprise ... In recent months, a lot of discussion has centered around the rising costs of AI, with even...

Polymarket's Situation Room pop-up in Washington in March. Alex Kent/The Washington Post/Getty Images.

Polymarket’s Homecoming Is Shaky and its U.S. CEO Is AWOL

By Michael Roddan and Yueqi Yang · May 6, 2026 6:00am PDT

Four years after its was exiled from the U.S., Polymarket was desperate to get back into the country. To make that happen, the prediction market bought a derivative and futures exchange that had just gotten a U.S. license and retained its chief executive, Justin Hertzberg, to run Polymarket U.S. Hertzberg appears to be CEO in name only. His main... Four years after its was exiled from the U.S., Polymarket was desperate to get back into the...

Coinbase CEO Brian Armstrong. Getty Images.

Coinbase’s Missed ‘Learning’ on Hiring

By Martin Peers · May 5, 2026 5:00pm PDT

Coinbase CEO Brian Armstrong. Getty Images.

Coinbase’s Missed ‘Learning’ on Hiring

By Martin Peers · May 5, 2026 5:00pm PDT

Greetings!Before we get to today’s news, check out our new text-to-audio tool that lets you listen to all of our articles on desktop or mobile web. Just press the Listen button on any article (I promise you will not hear my voice, just in case the thought of that was offputting!).There must be a template out there somewhere, probably created by... Greetings!Before we get to today’s news, check out our new text-to-audio tool that lets you...

Images via Getty Images; Shutterstock; YouTube.

xAI’s Fast, Cheap Data Center Build-Out Has Hidden Costs

By Theo Wayt and Valida Pau · May 5, 2026 10:10am PDT · 3 comments

SpaceX is touting xAI’s ability to build data centers quickly and cheaply as a major advantage over rival AI labs, part of a pitch for its upcoming initial public offering. For instance, in SpaceX’s draft IPO prospectus, the company said xAI brought the first two chip clusters at its second data center online at roughly a quarter of what it... SpaceX is touting xAI’s ability to build data centers quickly and cheaply as a major advantage...