OpenAI’s Revenue Run Rate Is Near US$50 Billion, Not US$70 Billion
OpenAI told investors its annualized revenue was approaching US$50 billion at the end of September, per the FT. The US$70 billion figure…
Business & Startups
The money side of the tech boom: IPOs, funding rounds, mergers and the financing deals that keep the AI build-out running. We go to the filings, the prospectuses and the term sheets to find the number the press release leaves out.
40 stories
BT TalkTalk Takeover: Virgin Media O2 Calls the Rescue a Stitch-Up
BT bought TalkTalk and wholesaler PXC out of administration on 5 October. Rivals want the wholesale arm split off, and the competition…
Personal Agent Protocol: Meta, Walmart and Shopify’s AI Agent Front Door
Meta and Sierra's OAuth-based standard lets your AI agent start as a guest, then get read-only or write access once you sign…
PQ Wins Quebec: Montreal AI’s Bigger Risk Is Immigration, Not a Referendum
The Parti Québécois took 59 of 127 seats on Oct. 5 and says a sovereignty vote waits until after January 2029. Its…
SpaceX Wants US$40B in Debt for Nvidia Chips, and Its Credit Is Flinching
SpaceX is reportedly lining up US$10 billion in loans and US$30 billion in bonds led by Apollo to buy Nvidia hardware. The…
Isomorphic Labs Seeks US$40bn Valuation With No Drug in Human Trials
Bloomberg reports the DeepMind drug-discovery spinout is in early talks at US$40bn to US$50bn, five months after a US$2.1bn round. Its first…
Thomson Reuters Won the First AI Training Appeal. Footnote 7 Is the Catch
The Third Circuit ruled on Sept. 29 that ROSS Intelligence's use of 2,243 Westlaw headnotes to train an AI search tool was…
Why Grindr Is Paying US$250M for Calgary PrEP Clinic Freddie
The dating app is buying Freddie's parent PurposeMed for US$190 million in cash and US$60 million in stock, with up to US$70…
Revolut Is Valued Above Barclays. Here’s What the £86bn Price Rests On
A July staff share sale priced Revolut at US$115bn, more than Barclays or Lloyds on the stock market. Its loan book is…
Musk Is a Trillionaire Again After SpaceX Stock Jumps 7.6%
A Morgan Stanley note calling SpaceX "cheap and getting cheaper" sent SPCX to its highest close since June, pushing Elon Musk back…
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