Stargate

Microsoft and OpenAI execs are planning to build a US-based data center containing a supercomputer that’s made up of millions of AI chips called ‘Stargate’ that would cost up to $100B.

Apple, Google, and Meta were probed by the EU under the Digital Market Act for their supposed monopoly. Violations risk fines of up to 10% of worldwide sales; 20% for repeat infringements, or companies can be broken up.

Amazon has invested another $2.75B in AI startup Anthropic. It’s invested a total of $4B in the startup over the last 6 months. It’s the largest outside investment in Amazon’s history.

Robinhood, eight months after acquiring credit card startup X1 for $95 million, launches a new gold credit card to go after Apple Card. JP Morgan Chase allowed it to increase its borrowing capacity to $2.25B with an additional increase of $1.125B (under certain conditions) to fund this.

Google hints that Apple is set to roll out Rich Communication Services (RCS) support for iPhones this fall in the upcoming iOS 18 update.

The first batch of Humane’s AI Pins started leaving the factory this week.

Snap tells employees they have 60 days to either come back to the office or leave the company. It’s also rescinding many remote-work exceptions.

AT&T has reset millions of customer account passcodes after a huge cache of data containing AT&T customer records was dumped online earlier this month.

Sam Bankman-Fried, co-founder and former CEO of FTX is sentenced to 25 years in prison by Southern District of New York Judge Lewis Kaplan.

Former Yahoo CEO Marissa Mayer releases a new photo-sharing app called Shine and the design looks like it’s from the Stone Age.

Google is rolling out an update to its Search Generative Experience (SGE) that will let you use AI to build travel itineraries for your vacations.

Facebook snooped on users’ Snapchat, YouTube, and Amazon traffic in an initiative called “Project Ghostbusters” back in 2016.

Government-backed nonprofit organization Mitre opens a lab to test the US Government’s artificial intelligence to discover and fix security flaws.

Adam Neumann makes a $500M bid for WeWork that could reach $900M if financing and diligence firm up.

FTX will sell two-thirds of its 8% stake in AI startup Anthropic in a series of sales worth $884M; Mubadala unit ATIC Third International Investment will buy ~$500M worth of shares alongside Jane Street, Fidelity Management and Research, VC HOF Capital and 20 other buyers

OpenAI heads to Hollywood to pitch its revolutionary text-to-video generator Sora.

EV startup Fisker trading is suspended on the NYSE and will be taken off the stock exchange. This comes after it spent more than 30 days trading below $1.

Maju Kuruvilla is out as CEO of the one-click checkout startup Bolt.

Instagram and Threads will stop recommending political content from accounts users don’t follow.

Boeing CEO Dave Calhoun and other top execs step down amid its ongoing safety crises.

Dating giant Match Group adds Instacart’s CMO Laura Jones and Zillow’s cofounder and former CEO Spencer Rascoff to its board.

Scale AI is in talks with Accel Ventures to raise a new funding round expected to be worth hundreds of millions of dollars in a deal that would boost the startup’s valuation by 80% to $13B.

Hume AI raises a $50M Series B round and launches the world’s first Empathic Voice Interface, enabling developers to integrate an emotionally intelligent AI voice into different vertical applications.

Former Nextdoor exec raises $25M for PipeDream, a startup rolling up HVAC companies.

Celestial AI raises $175M Series C round led by Innovative Technology Fund to build out its Photonic Fabric optical interconnect platform.

Data observability platform Observe raises a $115M Series B that values the company between $400M–$500M.

Nourish, a New York-based telenutrition platform, raises a $35M Series A round led by Index Ventures. It’s looking to expand access to personalized nutrition care and this new funding round will go toward expanding its network of registered dietitians.

NewRetirement raises $20M Series A to transform financial planning for consumers and enterprises.

Gather AI raises $17M to grow its computer vision and AI-powered warehouse inventory monitoring solutions.

Lucid Motors, the struggling luxury EV maker, gets a $1B lifeline from its majority stockholder, Ayar Third Investment Company. Ayar is purchasing $1B of a newly created series of convertible preferred stock via private placement.

Goalsetter secures $9.6M in Series A extension funding to help American families learn to save, spend, invest, and build wealth.

Cash back rewards app Ibotta files to go public in a $100M stock offering. American shoppers have earned a total of $1.8B back through it.

Consumer banking startup Chime plans to IPO in 2025. It was last valued at $25B in 2021.

Nvidia-backed CoreWeave, a specialized cloud provider, is in talks to raise funding at a $16B valuation

Bankrupt commercial EV startup Arrival has sold some of its assets, including advanced manufacturing equipment to Canoo, another struggling startup trying to build and sell electric vehicles.

Eliyan raises $60M in Series B funding for its chiplet interconnect technology that speeds up the processing for AI chips.

Zuck posts a picture with Nvidia’s CEO Jensen Huang where they swap jackets.

Apple’s SVP Greg “Joz” Joswiak posted on X announcing the company’s World Wide Developer Conference is set for June 10–14. This is no doubt a nod to its AI ambitions, Joswiak promises the event is going to be “Absolutely Incredible!”

Tesla produced its 6 millionth car and posted a quick video about it on X.

A product designer at Instagram redesigns Marissa Mayer’s new photo-sharing app to feel more modern (and utilize IG’s UI components).

Webflow employee creates a beautiful art book that tells and illustrates the story of Google’s first 25 years.