Sources: PayPal to shutter its 10-year-old PayPal Ventures arm amid a broader shakeup under a new CEO and has hired Jefferies to explore selling some positions (Ben Weiss/Fortune)
Ben Weiss / Fortune: Sources: PayPal to shutter its 10-year-old PayPal Ventures arm amid a broader shakeup under a new CEO and has hired Jefferies
Source: the White House is unlikely to extend export restrictions to other AI companies (Leo Schwartz/The Information)
Leo Schwartz / The Information: Source: the White House is unlikely to extend export restrictions to other AI companies — The White House is unlikely
Chinese companies are implementing “quiet” AI-driven layoffs to avoid labor laws that require government approval for job cuts exceeding 10% of a workforce (Laurie Chen/Reuters)
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As wealth managers confront an AI reckoning, the tech is, for now, easing their workloads by picking up routine tasks, freeing up more time to advise clients (Bloomberg)
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Internal docs from lawsuits by 1,400 school districts show how social media companies targeted kids: Meta paid "teen ambassadors", Snap sent school-hour alerts (Jennifer Valentino-DeVries/New York Times)
Jennifer Valentino-DeVries / New York Times: Internal docs from lawsuits by 1,400 school districts show how social media companies targeted kids: Meta paid “teen ambassadors”,
Alphabet is raising $80B in equity offerings, including a $10B investment deal with Berkshire Hathaway, to help raise money for its AI spending plans (Bloomberg)
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Microsoft faces backlash after a blog post implied criminal referral and legal action against security researcher Nightmare Eclipse over public bug disclosures (Lorenzo Franceschi-Bicchierai/TechCrunch)
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Sources: Bond Capital is leading a new investment for AI startup Suno, which would value it at ~$5B, up from $2.45B last fall; Suno is expected to raise $250M+ (Axios)
Axios: Sources: Bond Capital is leading a new investment for AI startup Suno, which would value it at ~$5B, up from $2.45B last fall; Suno
How Anthropic’s ongoing discussions with the Vatican about ethics and AI led to Christopher Olah being invited to Pope Leo’s unveiling of an encyclical on AI (Jack Jenkins/RNS)
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SpaceX reports 2025 revenue of $18.7B, up 33% YoY, a $4.9B loss, vs. a $791M profit in 2024, and $20.7B in capital expenditures, up from $11.2B (New York Times)
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