Staff memo: Meta plans to limit employee token usage and encourage employees to use MetaCode, after internal AI spending forecasts reached billions for 2026 — Meta Platforms plans to clamp down on skyrocketing AI costs inside the company by imposing limits on employees' token usage …
Sources: Microsoft considered spinning out or restructuring its Xbox unit as a wholly-owned subsidiary, or creating a joint venture with other partners — As Microsoft gets ready to overhaul its struggling Xbox gaming unit, it hasn't ruled out spinning out or restructuring the unit …
Sources: Founders Fund's ~3% stake in SpaceX is now worth $50B+, after investing $600M; a16z will get the biggest return in its history, with a $10B+ stake — A small number of firms are set to net tens of billions of dollars in returns from SpaceX's initial public offering …
SpaceX raises $75B in the biggest-ever IPO, after selling 555.6M shares at $135 each, giving it a market value of $1.77T — SpaceX has made history with the biggest-ever IPO, launching it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world's first trillionaire.
Some investors question SpaceX's projected $1.77T valuation, citing its $4.3B loss on $4.7B in revenue in Q1, concerns over space data centers, and more — Elon Musk's rocket company is spending big and losing money. That has raised questions about whether it can justify its valuation for its blockbuster initial public offering.
An essay on policy responses to AI's exponential progress across regulation and public safety, macroeconomics and taxes, science, civil liberties, geopolitics — In one of the side plots to The Lord of the Rings, two of the Hobbits attempt to rouse Treebeard—a wise but ponderous sentient tree …
OpenAI and Visa partner to let AI agents make purchases online after users give their permission and to explore enterprise applications for AI-driven payments — OpenAI and Visa Inc. are now allowing artificial-intelligence agents to make purchases online after users give their permission …