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Musk v. Altman: in closing arguments, Musk's attorney doubled down on claims of Altman's untrustworthiness, while OpenAI's lawyer said Musk has no evidence (Associated Press) [2d]
California Gov. Gavin Newsom proposes a new 7.25% tax on web-based software sales, targeting $1.1B in state and local tax revenue in the upcoming budget year (Bloomberg) [2d]
Gemini reports Q1 revenue up 42% YoY to $50.3M, vs. $47.9M est., announces a $100M capital injection from Winklevoss Capital Fund; GEMI jumps 22%+ after hours (Tanaya Macheel/CNBC) [2d]
Cerebras co-founders CEO Andrew Feldman and CTO Sean Lie own stakes worth $3.2B and $1.7B, respectively, representing about 5.5% and 3% of the company (CJ Haddad/CNBC) [2d]
Cerebras shares closed up 68% at $311.07 in the company's Nasdaq debut after it raised $5.5B in the year's largest IPO, giving it a market value of $67B (Bloomberg) [2d]
OpenAI adds remote access to Codex in the ChatGPT mobile app, letting users control Codex sessions running on a connected computer directly from a phone (Zac Hall/9to5Mac) [2d]
Figma reports Q1 revenue up 46% YoY to $333.4M, vs. $313.2M est., and forecasts Q2 revenue above estimates, citing AI monetization; FIG jumps 8%+ after hours (Zaheer Kachwala/Reuters) [2d]
Sources: Joshua Kushner's Thrive Capital told its stakeholders that it has invested ~$100M in Shopify, framed as a bet on how AI could lead to gains in commerce (Natasha Mascarenhas/Bloomberg) [2d]
Sources: Microsoft plans to remove most of its Claude Code licenses and push its developers toward GitHub Copilot CLI, after previously pushing Claude Code (Tom Warren/The Verge) [2d]
The Senate Banking Committee advances the Clarity Act, which would make CFTC the primary regulator for most digital assets while SEC oversees digital securities (Bloomberg) [2d]
Sources: 50+ researchers and engineers have left xAI since the SpaceX acquisition via layoffs, firings, and voluntary departures; many have joined Meta and TML (Theo Wayt/The Information) [2d]
Sources: Intel has begun testing production of "low-end/legacy iPhone, iPad, and Mac processors"; Apple thinks TSMC's resources will continue tilting toward AI (@mingchikuo) [2d]
Ford stock jumped as much as 25% in two days after the launch of Ford Energy, a new subsidiary providing battery storage capacity to AI data centers (Christian Davies/Financial Times) [2d]
A look at GameStop's takeover bid for eBay, a bizarre way to force eBay's board and shareholders to consider GameStop CEO Ryan Cohen's desire to run eBay (Matt Levine/Bloomberg) [2d]
Cerebras opens at $350, valuing the chipmaker at $100B+, after raising $5.5B by selling 30M shares at $185, the largest US tech IPO since Uber's debut in 2019 (Jordan Novet/CNBC) [2d]
Sources: OpenAI is weighing legal action against Apple after expectations that ChatGPT's Siri integration would generate billions in revenue fell short (Mark Gurman/Bloomberg) [2d]
Ian Crosby's Synthetic, which is building an AI bookkeeper, raised a $10M seed led by Khosla; Crosby founded Bench, which raised $100M+ and imploded in 2024 (Marina Temkin/TechCrunch) [2d]
Anthropic and Gates Foundation pledge $200M to use AI in health and education initiatives; the foundation signed a similar, $50M deal with OpenAI in January (Jeffrey Dastin/Reuters) [2d]
Razer updates the Blade 18 with an Intel Core Ultra 9 290HX Plus chip, starting at $4000 with an Nvidia RTX 5070 Ti, up $500 from the comparable 2025 model (Antonio G. Di Benedetto/The Verge) [2d]
Wirestock, which says it provides multi-modal data to six of the largest foundation AI labs, raised a $23M Series A, bringing its total funding to $26M (Ivan Mehta/TechCrunch) [2d]
AT&T, T-Mobile, and Verizon sign an "agreement in principle" to form a joint venture aiming to end wireless dead zones in the US, without giving many details (Jess Weatherbed/The Verge) [2d]
Motorola Razr Fold review: good performance and screen, great battery life, sharp camera, and native stylus support, but heavier than Z Fold 7 and lackluster AI (Sam Rutherford/Engadget) [2d]
Gallup: 70% of Americans oppose local data center construction, citing water and electricity issues, with opposition higher among Democrats than Republicans (Tim Craig/Washington Post) [2d]
Klarna reports Q1 revenue up 44% YoY to $1.01B, above est., GMV up 33% to $33.7B, active customers up 20% to 119M, and a $1M profit, up from a $99M loss YoY (Connor Hart/Wall Street Journal) [2d]
Spotify says it will adopt Apple's HTTP Live Streaming tech for video podcasts later in 2026, helping creators distribute podcasts on Apple Podcasts and Spotify (Zac Hall/9to5Mac) [2d]
The UK CMA launches an antitrust investigation into Microsoft's business software dominance, focusing on its bundling of Windows, Word, Teams, and other apps (Reuters) [2d]
Meta President Dina Powell McCormick is traveling with President Trump on his China trip and met King Charles III, indicating she is Meta's new global emissary (Kurt Wagner/Bloomberg) [2d]
SMIC reports Q1 revenue up 11.5% YoY to ~$2.5B and net profit up 5% YoY to ~$197.4M, below $223.6M est., weighed down by higher operating expenses, up 30% YoY (Sherry Qin/Wall Street Journal) [2d]
As Meta prepares to lay off ~10% of its staff on May 20, sources say morale is low, and Meta forcibly moved 1,000+ engineers to an AI unit to build GenAI models (Wired) [2d]
Blackstone Digital Infrastructure Trust raised $1.75B in its US IPO, selling 87.5M shares at $20 each, and plans to acquire data centers worth $250M to $1.5B (Subrat Patnaik/Bloomberg) [2d]
Zhaopin: Chinese graduates returning home from abroad rose 12% YoY in 2025, fueling Beijing's plans to take on Silicon Valley; China is offering big incentives (Wall Street Journal) [2d]
Foxconn reports Q1 revenue up 29% YoY to ~$67B and net profit up 19% YoY to ~$1.6B, meeting est., as it boosts AI server production, its largest revenue source (Wall Street Journal) [2d]
Filing: Jensen Huang's foundation bought $108.3M worth of AI computing time from CoreWeave and is donating it to universities and other nonprofit institutes (Max A. Cherney/Reuters) [2d]
Canadian legaltech company Clio says its ARR has reached $500M, citing demand for its AI services; it was valued at $5B after a $500M Series G in November 2025 (Marina Temkin/TechCrunch) [2d]
Sources: the US cleared ~10 Chinese companies, including Alibaba, Tencent, ByteDance, and JD.com, to buy Nvidia H200 chips, but no deliveries have been made (Reuters) [2d]
Riyadh-based Stitch, which develops software for banks and financial services companies, raised a $25M Series A led by a16z, its first investment in the Gulf (Aisha S Gani/Bloomberg) [2d]
Sources: climate watchdog SBTi drops proposed rules that would limit tech companies' claims that gas-fueled data centers are covered by clean energy investments (Kenza Bryan/Financial Times) [3d]
Musk v. Altman filing: Sam Altman holds $2B+ in stakes in companies that have done business with OpenAI, including a $1.7B stake in fusion startup Helion Energy (Kenrick Cai/Reuters) [3d]
LY Corp launches a bid with Bain Capital to buy Kakaku.com, which operates restaurant review and booking site Tabelog, for $4B, challenging EQT's $3.75B offer (Nikkei Asia) [3d]
ZipRecruiter: IT and CS job postings are up 14.2% YoY in April; entry-level roles fell from 8.1% a year ago to 7.4%, while senior roles grew from 38.8% to 43.1% (Katherine Bindley/Wall Street Journal) [3d]
Microsoft updates Edge with new AI features, including letting Copilot gather information from open tabs and use browsing history for more relevant answers (Emma Roth/The Verge) [3d]
OpenAI says it would support a global AI governance body that is led by the US and includes China as a member, similar to the International Atomic Energy Agency (Maggie Eastland/Bloomberg) [3d]
Sources: Google plans to announce a new Gemini model at its I/O conference next week; the model will land roughly in the class of GPT-5.5, but short of Mythos (Alex Heath/Sources) [3d]
TikTok launches TikTok GO in the US for users to book hotels, attractions, and experiences directly in the app, partnering with Booking.com, Expedia, and others (Aisha Malik/TechCrunch) [3d]
OpenEvidence, an AI-powered medical search tool, says it's used by two-thirds of US physicians, or ~650K doctors, and an additional 1.2M doctors internationally (Jared Perlo/NBC News) [3d]
Sources: Apollo Global, Morgan Stanley, and others are testing Grok internally as part of xAI's finance sector push, but financiers are rarely using it for work (Carmen Arroyo/Bloomberg) [3d]

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Our billing pipeline was suddenly slow. The culprit was a hidden bottleneck in ClickHouse [2d]

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