The Information

Art by Mike Sullivan

Ex-DOGE Employees Raise $225 million for Venture Fund Banner VC

By Leo Schwartz · Jun 22, 2026 10:50am PDT

Two former members of Elon Musk’s Department of Government Efficiency have raised $225 million for their debut venture fund, Banner VC, according to a person close to the fund and filings with the Securities and Exchange Commission. Banner separately raised nearly $75 million to co-lead a recent round in the orbital infrastructure startup... Two former members of Elon Musk’s Department of Government Efficiency have raised $225 million...

Chis Ratcliffe/Bloomberg via Getty Images

Lime Plans to Name Uber as an Anchor Investor in IPO

By Cory Weinberg · Jun 21, 2026 4:44pm PDT · 6 comments

The initial public offering for Lime, an electric scooter and bike rental company that was once a stalwart of the late 2010s startup scene, is getting financial support from an old friend: Uber. The ride-hailing giant is expected to invest a “meaningful” amount in the deal and be named as an anchor investor on the cover of an updated IPO... The initial public offering for Lime, an electric scooter and bike rental company that was once a...

Tarek Mansour, co-founder of Kalshi. Photo by Aaron Schwartz/ Getty Images

Kalshi Passes $2 Billion in Annualized Revenue, Holds Informal IPO Talks

By Yueqi Yang · Jun 18, 2026 2:30pm PDT

Prediction market Kalshi is generating more than $2 billion in annualized revenue, up about three times from November, as traders betting on NBA and World Cup games drove a surge in trading volume, according to people familiar with the company’s financials. Kalshi’s fast growth has led its top executives to hold informal conversations with... Prediction market Kalshi is generating more than $2 billion in annualized revenue, up about three...

Art by Mike Sullivan

Amazon Gives Big Brands More Control Over Product Listings

By Ann Gehan · Jun 18, 2026 8:00am PDT

Art by Mike Sullivan

Amazon Gives Big Brands More Control Over Product Listings

By Ann Gehan · Jun 18, 2026 8:00am PDT

Amazon’s status as the home of independent merchants is eroding. The e-commerce giant has lately overhauled its shopping site to give big brands more control over how their products are displayed and sold. The company recently told them it would give them priority over independent merchants in deciding how their products are described on its... Amazon’s status as the home of independent merchants is eroding. The e-commerce giant has lately...

Yichao "Peak" Ji, co-founder and Chief Scientist at Manus AI. Photo via YouTube

Manus’ Revenue Soars as Original Investors Move to Reverse Meta Deal

By Jing Yang, Juro Osawa and Qianer Liu · Jun 18, 2026 6:00am PDT

The early Chinese backers of AI firm Manus are planning to buy the firm back from Meta Platforms at the $2 billion price Meta paid, in response to a Chinese government order that the deal be reversed, according to two people with direct knowledge of the matter. While the government’s order has sparked alarm among Chinese startup founders,... The early Chinese backers of AI firm Manus are planning to buy the firm back from Meta Platforms...

Photo via Castelion

Missile Startup Founded by SpaceX Alumni Targets $12 Billion Valuation

By Leo Schwartz and Julia Hornstein · Jun 17, 2026 2:52pm PDT

Castelion, a nearly four-year-old startup that makes hypersonic missiles, is aiming to raise a new funding round at a valuation of $12 billion or more, including the money raised, according to two people with knowledge of the fundraising efforts. The company’s target would be at least four times the valuation of its last funding round in... Castelion, a nearly four-year-old startup that makes hypersonic missiles, is aiming to raise a...

Images by Getty Images.

OpenAI Burned $3.7 Billion in First Three Months of 2026

By Erin Woo · Jun 16, 2026 4:26pm PDT · 7 comments

OpenAI burned through $3.7 billion in the first quarter, more than half its $5.7 billion in revenue, according to documents the company shared with shareholders. Both cash burn and revenue tripled from the same period the previous year, signaling how even with strong AI demand, making money from AI continues to be challenging. The company ended... OpenAI burned through $3.7 billion in the first quarter, more than half its $5.7 billion in...

From left, Sam Altman, Dario Amodei and Howard Lutnick. Photos via Getty Images; art by Mike Sullivan

Anthropic Ban Stirs Concerns at OpenAI and Beyond of Crackdown on Foreign AI Talent

By Leo Schwartz, Stephanie Palazzolo and Erin Woo · Jun 16, 2026 2:07pm PDT · 1 comment

From left, Sam Altman, Dario Amodei and Howard Lutnick. Photos via Getty Images; art by Mike Sullivan

Anthropic Ban Stirs Concerns at OpenAI and Beyond of Crackdown on Foreign AI Talent

By Leo Schwartz, Stephanie Palazzolo and Erin Woo · Jun 16, 2026 2:07pm PDT · 1 comment

The U.S. government’s latest battle with Anthropic has revived long-simmering concerns throughout the AI industry that the White House has placed a bullseye on their reliance on foreign AI talent. The Trump administration appears to have targeted only Anthropic so far, warning the company on Friday in a letter from Commerce Secretary Howard... The U.S. government’s latest battle with Anthropic has revived long-simmering concerns throughout...

Shayne Coplan, CEO of Polymarket. Photo by Michael Nagle/ Getty Images.

Polymarket, Kalshi Take Steps to Block Fraud Rings

By Michael Roddan · Jun 16, 2026 6:00am PDT

Polymarket and Kalshi are racing to turn more major events into opportunities to place bets, including everything from daily temperature highs during a New York City heat wave to the latest contestant to be eliminated from “Love Island,” the reality TV hit. That’s helped the young markets become high-profile sentiment gauges and generate... Polymarket and Kalshi are racing to turn more major events into opportunities to place bets,...

Photo by Samuel Boivin/Getty Images.

DeepSeek Closes Record $7 Billion-Plus Funding with Unusual Deal Structure

By Jing Yang, Qianer Liu and Juro Osawa · Jun 15, 2026 9:55pm PDT · 3 comments

Chinese AI lab DeepSeek has closed its first funding round that raised more than 50 billion yuan ($7.4 billion) under an unusual deal structure, according to two people with direct knowledge of the matter. The funding round, which values the large-language model developer at more than $50 billion, requires investors to put their capital... Chinese AI lab DeepSeek has closed its first funding round that raised more than 50 billion yuan...

Jim Keller, CEO of Tenstorrent. Photographer by Zak Bennett/ Getty Images

Qualcomm in Talks to Buy Tenstorrent to Expand AI Chip Capabilities

By Stephanie Palazzolo and Valida Pau · Jun 15, 2026 1:39pm PDT · 1 comment

Qualcomm has been in talks to buy Tenstorrent, a startup that designs chips for AI, according to a person with direct knowledge of the deal. The two companies have discussed a price between at least $8 billion and $10 billion, the person said, which would be a significant premium to Tenstorrent’s last valuation. It’s not clear if the price would... Qualcomm has been in talks to buy Tenstorrent, a startup that designs chips for AI, according to...

Anthropic CEO Dario Amodei, left, and Amazon CEO Andy Jassy. Photos via Getty; AP

Amazon’s Jassy Raised Concerns About Anthropic Model Before Trump Crackdown

By Leo Schwartz, Stephanie Palazzolo, Catherine Perloff and Cory Weinberg · Jun 13, 2026 9:11am PDT · 7 comments

Anthropic CEO Dario Amodei, left, and Amazon CEO Andy Jassy. Photos via Getty; AP

Amazon’s Jassy Raised Concerns About Anthropic Model Before Trump Crackdown

By Leo Schwartz, Stephanie Palazzolo, Catherine Perloff and Cory Weinberg · Jun 13, 2026 9:11am PDT · 7 comments

Amazon CEO Andy Jassy was among the tech leaders who raised concerns to senior Trump administration officials this week about security risks in Anthropic’s most advanced models, according to two people familiar with the conversations. The calls between the head of Amazon—one of Anthropic’s biggest investors and vendors—and the... Amazon CEO Andy Jassy was among the tech leaders who raised concerns to senior Trump...

Meta CTO Andrew Bosworth. Art by Shane Burke/Getty Images/Shutterstock

Tokenminimizing: Meta Moves to Curb Employee AI Usage as AI Costs Reach Billions

By Jyoti Mann · Jun 12, 2026 11:57am PDT

Meta Platforms plans to clamp down on skyrocketing AI costs inside the company by imposing limits on employees’ token usage, the company told staff in a memo on Tuesday, just weeks after it pushed them to adopt AI tools in their work. The company is building an internal platform to track employee AI usage and spending in real time, set budgets... Meta Platforms plans to clamp down on skyrocketing AI costs inside the company by imposing limits...

Asha Sharma, CEO of Xbox. Photo by David Paul Morris/ Getty Images

Microsoft Has Considered Spinning Out Xbox, Plans New ‘Halo,’ ‘Fallout’ Games

By Aaron Holmes · Jun 12, 2026 11:10am PDT · 1 comment

As Microsoft gets ready to overhaul its struggling Xbox gaming unit, it hasn’t ruled out spinning out or restructuring the unit as a wholly-owned subsidiary, which could make it easier to sell, or creating a joint venture with other partners, according to three people with direct knowledge of the discussions. Microsoft doesn’t have any imminent... As Microsoft gets ready to overhaul its struggling Xbox gaming unit, it hasn’t ruled out spinning...

Getty Images/Adobe.

Meta Bought Rivos to Accelerate Its AI Chip Push. It Isn’t Working.

By Jyoti Mann and Qianer Liu · Jun 12, 2026 6:00am PDT · 3 comments

Meta Platforms bought semiconductor startup Rivos last year to accelerate development of in-house chips and reduce its reliance on Nvidia as it pours cash into data centers for its AI ambitions. Now six months since the acquisition closed, Meta is struggling to make it work, beset by problems that illustrate the social media giant’s bigger... Meta Platforms bought semiconductor startup Rivos last year to accelerate development of in-house...

Photo of Dario Amodei by Getty Images; art by Mike Sullivan

Anthropic Blindsides Its Business Partners

By Stephanie Palazzolo and Amir Efrati · Jun 11, 2026 2:23pm PDT · 8 comments

Photo of Dario Amodei by Getty Images; art by Mike Sullivan

Anthropic Blindsides Its Business Partners

By Stephanie Palazzolo and Amir Efrati · Jun 11, 2026 2:23pm PDT · 8 comments

Weeks before Anthropic in April revealed Claude Design, an AI tool for creating designs and software application prototypes, it asked firms including Figma and Canva to be “partners” of the launch announcement showcasing the tool’s capabilities. These two design firms, longtime Anthropic customers, saw the launch as an opportunity to show how... Weeks before Anthropic in April revealed Claude Design, an AI tool for creating designs and...

Art by Mike Sullivan

Anthropic Pursues First Data Center Leases, Seeks Financial Backing From Google

By Anissa Gardizy · Jun 11, 2026 9:30am PDT · 1 comment

Anthropic is moving forward with a plan to control its own servers for developing AI, giving it the ability to cut its computing costs in the long run. The maker of Claude in recent months has signed more than a dozen initial agreements, known as letters of intent, to lease data center facilities from various U.S. developers, according to... Anthropic is moving forward with a plan to control its own servers for developing AI, giving it...

Getty Images

Google Turns to Samsung for Future AI Chip as Capacity Tightens

By Qianer Liu · Jun 11, 2026 6:00am PDT · 1 comment

Google is considering giving Samsung Electronics a crucial role in making a component of one of its most advanced future AI chips, as the ongoing manufacturing capacity crunch pushes chip firms to look for suppliers beyond Taiwan Semiconductor Manufacturing Co. The U.S. tech giant is in talks with Samsung to manufacture part of a next-generation... Google is considering giving Samsung Electronics a crucial role in making a component of one of...

From left to right: Jensen Huang, Sam Altman and Masayoshi Son. Photos via Getty Images.

OpenAI in Talks to Lease 10 Gigawatt Ohio Data Center with Backing From Nvidia

By Anissa Gardizy · Jun 9, 2026 7:07pm PDT · 2 comments

OpenAI is in advanced negotiations to lease a proposed 10 gigawatt data center campus on federal land in Ohio as part of a deal that could include financial backing from Nvidia, according to two people with direct knowledge of the discussions. The campus under discussion would be among the biggest of its kind, with a total cost of at least $500... OpenAI is in advanced negotiations to lease a proposed 10 gigawatt data center campus on federal...

Ali Ghodsi, co-founder and chief executive officer of Databricks. Photo by David Paul Morris/Getty Images

Databricks in Talks for Valuation of at Least $165 Billion

By Katie Roof and Cory Weinberg · Jun 8, 2026 5:27pm PDT

Ali Ghodsi, co-founder and chief executive officer of Databricks. Photo by David Paul Morris/Getty Images

Databricks in Talks for Valuation of at Least $165 Billion

By Katie Roof and Cory Weinberg · Jun 8, 2026 5:27pm PDT

Databricks, a provider of database management software, has discussed raising more money in a funding round that could kick off within the next month, according to multiple people with direct knowledge of the conversations. Databricks has indicated to investors the new round could lift its valuation to between $165 billion and $175 billion. That... Databricks, a provider of database management software, has discussed raising more money in a...