The Brutalist Report - techmeme
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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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
- 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) [61d]
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