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The Information Finance

By The Information Staff

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Recent Editions

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The Information Finance

Alphabet’s Fine Print Reveals Hidden Cost of the AI Talent War

By Cory Weinberg · Jun 3, 2026 9:23am PDT · 1 comment
Alphabet’s plan to sell $80 billion worth of shares, billed as a way to pay for AI infrastructure and compute, is surprising enough, given the capital raise’s size and the fact that the company last raised equity 21 years ago, when Gwen Stefani’s “Hollaback Girl” was the song of the summer. But there’s another eye-catching detail in the offering... Alphabet’s plan to sell $80 billion worth of shares, billed as a way to pay for AI infrastructure...
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The Information Finance

Pre-IPO Betting Boom Hits Prediction Markets

By Yueqi Yang · May 27, 2026 8:18am PDT
Most everyday investors can’t buy shares of hot private companies like SpaceX and OpenAI before they go public. With potential mega-IPOs looming this year, prediction markets like Polymarket and Kalshi are turning that hype into tradable bets.  Users are flocking to yes-or-no bets on milestones like valuations and IPO timelines, betting... Most everyday investors can’t buy shares of hot private companies like SpaceX and OpenAI before...
Art by Mike Sullivan.
The Information Finance

Fintech Lenders are Still Learning the Hard Way

By Ann Gehan · May 20, 2026 9:41am PDT
The recent bankruptcy of Parker, a corporate card startup that catered to e-commerce customers, is a good reminder that lending is one of the toughest ways to make money in fintech. Parker had been among the dwindling number of standalone, tech-heavy lenders geared toward small businesses that first sprung up during the fintech funding... The recent bankruptcy of Parker, a corporate card startup that catered to e-commerce customers,...
Senators Thom Tillis, left, and Angela Alsobrooks. Photos via Getty Images.
Can Crypto Beat the Banks and Win Over Washington?
By Ken Brown · May 13, 2026 8:00am PDT
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...
Photo by Michael Nagle/Getty Images
The Information Finance

Why SpaceX Might Land in Your Mother’s Index Fund

By Ken Brown · May 6, 2026 8:00am PDT · 5 comments
When SpaceX hits the market, likely next month, Elon Musk’s fans will rush to buy shares no matter what the valuation. A few months later, a far different group of investors might also scramble to get shares, and they’ll also buy at any price.Index funds, the favorites of savvy, cost-conscious investors, might be forced to load up on SpaceX... When SpaceX hits the market, likely next month, Elon Musk’s fans will rush to buy shares no...
The Information Finance Newsletter
Context and explanation for the biggest investments in the industry, with a particular focus on the funding of artificial intelligence.
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The Information Finance

The Hidden Risks in AI Funding

By Ken Brown · Apr 29, 2026 8:34am PDT · 1 comment
Bankers and investors, especially when they are sitting in front of an audience, are not shy about offering their opinions. Yet when I asked a panel of money types at our Financing the AI Revolution conference on Monday about risks in the current market, I got near silence.We had been discussing the billions of investment dollars pouring into... Bankers and investors, especially when they are sitting in front of an audience, are not shy...
Michael Intrator, co-founder and chief executive officer of CoreWeave Inc. Photo by Chris J. Ratcliffe/Getty Images
The Information Finance

How CoreWeave Seduced the Bond Market

By Ken Brown · Apr 22, 2026 8:01am PDT
CoreWeave’s shares are up 55% this month, but that rally tells just part of the story about the AI cloud provider. The company has tapped a range of sources for much-needed capital, giving it a commanding role in the AI build-out. CoreWeave’s big fundraising haul—totaling nearly $16 billion—also signals that both stock and debt investors... CoreWeave’s shares are up 55% this month, but that rally tells just part of the story about the...
SpaceX’s Hawthorne, Calif. facility. Ethan Swope/Bloomberg/Getty Images.
I Helped Pick Stocks for the Dow. I’m Watching the SpaceX IPO Carefully
By Ken Brown · Apr 15, 2026 8:00am PDT · 6 comments
SpaceX’s Hawthorne, Calif. facility. Ethan Swope/Bloomberg/Getty Images.
The Information Finance

I Helped Pick Stocks for the Dow. I’m Watching the SpaceX IPO Carefully

By Ken Brown · Apr 15, 2026 8:00am PDT · 6 comments
Please join The Information at the New York Stock Exchange on Monday, April 27, for our “Financing the AI Revolution” forum. Hear from top executives and investors on how the rapid build-out of AI is reshaping tech, finance and capital markets. Learn more here.SpaceX’s financial challenges have become clearer in the past week, thanks to new... Please join The Information at the New York Stock Exchange on Monday, April 27, for our “...
Michael Nagle/Bloomberg via Getty Images.
The Information Finance

Nvidia Worth $22 Trillion? This Old-School Financial Model Says Yes.

By Ken Brown · Apr 8, 2026 9:07am PDT · 2 comments
Nvidia shares should be worth a lot more than they are now—400% more, to be exact. And most software stocks should be worth less—some a lot less—than they are now. You can find assessments like these all over social media, but in this case, they come from one of the most respected quantitative investing models in finance. UBS HOLT is that... Nvidia shares should be worth a lot more than they are now—400% more, to be exact. And most...
Getty Images.
The Information Finance

Did Prediction Markets Cause the Crypto Crash?

By Ken Brown · Apr 1, 2026 8:00am PDT · 3 comments
Please join The Information at the New York Stock Exchange on Monday, April 27, for The Information’s “Financing the AI Revolution” forum. Hear from top executives and investors on how the rapid build-out of AI is reshaping tech, finance and capital markets. Learn more here.On Kalshi, the wildly popular prediction market, bettors assigned just a... Please join The Information at the New York Stock Exchange on Monday, April 27, for The...
The Information Finance Newsletter
Context and explanation for the biggest investments in the industry, with a particular focus on the funding of artificial intelligence.
By providing your email, you agree to The Information’s Privacy Policy
Jeff Bezos. Photo via Getty Images
The Information Finance

The Bull Case for AI Just Got Stronger

By Ken Brown · Mar 25, 2026 8:00am PDT · 2 comments
Please join The Information at the New York Stock Exchange on Monday, April 27, for The Information’s “Financing the AI Revolution” forum. Hear from top executives and investors on how the rapid build-out of AI is reshaping tech, finance and capital markets. Learn more here.There’s supply and demand for AI computing power and there’s supply and... Please join The Information at the New York Stock Exchange on Monday, April 27, for The...
Sheryl Sandberg, left, and Nick Clegg were named to the Nscale board last week. Photos by Getty
Nscale Crashes the Big Leagues of Data Center Developers
By Ken Brown · Mar 18, 2026 8:49am PDT · 1 comment
Sheryl Sandberg, left, and Nick Clegg were named to the Nscale board last week. Photos by Getty
The Information Finance

Nscale Crashes the Big Leagues of Data Center Developers

By Ken Brown · Mar 18, 2026 8:49am PDT · 1 comment
A year ago, CoreWeave looked like AI’s riskiest play. Then last fall, Oracle stepped in front. More recently, Masayoshi Son’s SoftBank, no stranger to big bets, has borrowed its way to the top.This week, though, a new company took the title as riskiest AI firm: Nscale, a company run by a former coal miner that appears to have been independent... A year ago, CoreWeave looked like AI’s riskiest play. Then last fall, Oracle stepped in front....
Photo by Frederic J. Brown/ Getty Images
The Information Finance

What the Iran War Means for the Funding of AI

By Ken Brown · Mar 11, 2026 8:00am PDT
For much more on AI finance, please join me and my colleague Cory Weinberg at the New York Stock Exchange on Monday, April 27, for The Information’s Financing the AI Revolution forum. Hear from top executives and investors on how the rapid buildout of AI is reshaping tech, finance, and capital markets. Learn more here.It’s hard to overstate how... For much more on AI finance, please join me and my colleague Cory Weinberg at the New York Stock...
Art by Clark Miller; Getty Images.
The Information Finance

With AI Finance, It’s All in the Timing

By Ken Brown · Mar 4, 2026 8:15am PST · 1 comment
This may be the moment of maximum AI uncertainty. That means some things will get clearer in the coming months—not necessarily better, just clearer. There are three specific points of uncertainty right now:AI developers have raised a ton of money recently, led by OpenAI’s $110 billion haul, which we broke news on and explained. Coming soon... This may be the moment of maximum AI uncertainty. That means some things will get clearer in the...
Co-CEO of Blue Owl, Marc Lipschultz. Photo by Michael Nagle/ Getty Images
The Information Finance

Blue Owl Fouls the Nest for AI Financing

By Ken Brown · Feb 25, 2026 8:00am PST · 4 comments
There are few sure things in business, but here’s one: If you want to start a fast-growing company, lend money. The demand for loans is insatiable, and if you offer a good deal, you’ll have a line stretching down the block.Fair warning: The good times may not last long, and the downturn could be ugly. Private market lender Blue Owl is... There are few sure things in business, but here’s one: If you want to start a fast-growing...
The Information Finance Newsletter
Context and explanation for the biggest investments in the industry, with a particular focus on the funding of artificial intelligence.
By providing your email, you agree to The Information’s Privacy Policy
Robinhood CEO Vlad Tenev. Bloomberg via Getty Images. 
Robinhood’s Private Startup Fund Could Open the Floodgates
By Cory Weinberg · Feb 18, 2026 8:00am PST · 2 comments
Robinhood CEO Vlad Tenev. Bloomberg via Getty Images. 
The Information Finance

Robinhood’s Private Startup Fund Could Open the Floodgates

By Cory Weinberg · Feb 18, 2026 8:00am PST · 2 comments
A soon to be listed Robinhood fund that invests in private startups could lay a path for Silicon Valley—including VC firms—to raise more money from individual investors. Robinhood is raising $1 billion for the fund, which has the New York Stock Exchange ticker of RVI. The fund, Robinhood says, will invest in “best-in-class” private... A soon to be listed Robinhood fund that invests in private startups could lay a path for Silicon...
Art by Mike Sullivan
The Information Finance

How Chinese Fintech Giant Ant Uses AI to Help Banks Hedge Currency Risks

By Jing Yang · Feb 11, 2026 8:00am PST
Will AI make investment bankers and traders irrelevant? That's one of the most talked-about questions in finance these days.In reality, banks are already feeling the impact of AI on their behind-the-scenes plumbing, where payments, cash management, treasury and foreign exchange operations are embracing AI models to cut costs in these notoriously... Will AI make investment bankers and traders irrelevant? That's one of the most talked-about...
Art by Mike Sullivan
The Information Finance

Why Big Tech Companies Are Racing to Fund OpenAI

By Ken Brown · Feb 4, 2026 8:01am PST · 3 comments
Nvidia could invest around $30 billion, Amazon is down for at least $20 billion and Microsoft is looking at $10 billion as part of a $100 billion fundraising for OpenAI. SoftBank will bring the AI company closer to its goal with an investment worth around $30 billion. My colleague Sri Muppidi reported all of this last week. OpenAI has built... Nvidia could invest around $30 billion, Amazon is down for at least $20 billion and Microsoft is...
Art by Clark Miller.
The Information Finance

New SPAC Boom(let) Is the Same as the Last SPAC Boom

By Ken Brown · Jan 28, 2026 8:00am PST
Why wait for the mega AI initial public offerings expected later this year when you can invest in a nuclear fusion company or a MAGA crypto bank? These companies and other not-ready-for-IPO names are coming to the markets via special purpose acquisition companies.After SPACs vaporized billions of dollars during the boom-and-bust cycle early this... Why wait for the mega AI initial public offerings expected later this year when you can invest in...
GE Vernova turbines at the Stargate AI data center construction site in Abilene, Tex. Kyle Grillot/Bloomberg via Getty Images.
Data Center Inflation Is Here
By Ken Brown · Jan 21, 2026 8:00am PST · 5 comments
GE Vernova turbines at the Stargate AI data center construction site in Abilene, Tex. Kyle Grillot/Bloomberg via Getty Images.
The Information Finance

Data Center Inflation Is Here

By Ken Brown · Jan 21, 2026 8:00am PST · 5 comments
In the first weeks of the year, it has become clear that building data centers is getting more expensive. On a relative basis, the shift could benefit the cash-rich tech giants, particularly Google, while potentially hurting cash-burning startups. This doesn’t mean giant data centers won’t get built. Investors are still enthusiastic about... In the first weeks of the year, it has become clear that building data centers is getting more...