Tech
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AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
The CEOs of some of the biggest AI companies in the world have set aside their cutthroat competition to co-sign an open letter to Congress asking for more safeguards against a threat that their own technology has helped create. Dario Amodei, Sam Altman, and Mustafa Suleyman—the CEOs of Anthropic, OpenAI, and Microsoft AI, respectively—signed their…
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Airbnb CEO Brian Chesky plans to start a new AI company
Airbnb Inc. Chief Executive Officer Brian Chesky is starting a new artificial intelligence lab, according to several people familiar with the matter, marking his first foray into the global AI race. Chesky plans to create an AI venture to develop artificial intelligence models and is considering a focus on user interaction and design, said the…
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IBM, AT&T accused by whistleblower of covering up foreign hacks
International Business Machines Corp. and AT&T Inc.’s computer systems were repeatedly breached by foreign hackers, and the companies concealed those intrusions from the US government in violation of the law, according to a lawsuit from a former IBM cybersecurity official. William Barlow, IBM’s former vice president of threat intelligence, alleged in the complaint that the…
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World’s largest sovereign wealth fund backs push for Google oversight on government AI contracts
Alphabet shareholders are set to vote on Friday on a resolution that calls for greater transparency over the risks posed by government use of Google’s cloud and AI technology. The vote has gained momentum after Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund, announced it will back the proposal against Alphabet management’s…
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Amazon and Google have billions riding on Anthropic. The IPO will finally reveal how much.
Anthropic, most recently valued at $965 billion, has confidentially filed for an IPO—gearing up for what could be one of the largest public offerings in history. Details on the share count and price range won’t be officially disclosed until the S-1 registration statement is released to the public. Still, the company is widely expected to…
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Exclusive: Investors bet $40 million on Honeycomb’s no-inspection home insurance AI
Itai Ben-Zaken might be one of the only insurance tech founders who doesn’t need investors’ money—but he’ll still take it. He’s the CEO of Honeycomb Insurance, an AI-native insurer specializing in apartment buildings and condo associations. The company raised a $40 million funding round led by Zeev Ventures, Fortune learned exclusively. Ibex Investors, Peakline, Alpha…
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A single new sentence in SpaceX’s amended IPO filing could signal the biggest merger in history
On June 1, SpaceX issued an amended registration statement for its upcoming IPO that contains a couple of noteworthy additions to the original filing submitted two weeks earlier. In one new provision, the rocket and AI giant announced that it will reserve 5% of the offering’s shares for “certain employees and persons… which may include…
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Exclusive: Nvidia snaps up Kumo AI in latest acquisition
Nvidia has acquired Kumo AI, a small, four-year-old startup that develops foundation models designed to make accurate business predictions, according to two sources familiar with the deal. Kumo’s three co-founders, Vanja Josifovski, Hema Raghavan, and Jure Leskovec, transitioned to Nvidia last month, the sources said. While the founders’ LinkedIn profiles have been updated, and now…
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SpaceX may be the biggest IPO ever, but Morningstar says it is overvalued by half and the smart investors will wait out the hype and buy later
In just over a week, SpaceX is set to debut as one of the biggest IPOs in history with an eye-popping valuation of $1.75 trillion. One top analyst says it may actually be worth half of that, and investors may get a better deal by biding their time. Despite the hype surrounding the IPO, partly…
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These Fortune 500 companies are bigger than most national economies—here’s where they’d rank as countries
The Fortune 500, now in its 72nd year, tracks the biggest U.S. companies by revenue. Each year, companies are ranked by how much they’ve made (or lost) and by how their market caps and bottom lines rank within their cohorts. Some of the largest F500 companies have revenues that dwarf the GDPs of most of…