Tech
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Student hackers get revenge on final exams as ‘ShinyHunters’ takes down nearly 9,000 schools study software
A system that thousands of schools and universities use to support instruction was back online Friday after it went down during a cyberattack that created chaos as students tried to study for final exams. The hacking group named ShinyHunters claimed responsibility for the breach at Canvas, said Luke Connolly, a threat analyst at the cybersecurity…
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Anthropic grew 80-fold in a single quarter. Now it’s renting Elon Musk’s data center to cope
Anthropic CEO Dario Amodei said the AI company had planned for 10x growth, but instead, its revenue and usage grew 80-fold in the first quarter on an annualized basis, a surge he called “just crazy” and “too hard to handle.” The company is growing so fast that its infrastructure has struggled to keep up, forcing…
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Is quarterly reporting hurting investors or helping them? The SEC just weighed in—and the debate is far from over
Good morning. This week, the U.S. Securities and Exchange Commission addressed a long-running debate on Wall Street: Are quarterly earnings reports helping investors—or fueling short-term earnings management? On Tuesday, the agency announced a proposed rule and form amendments that would allow semiannual reports to satisfy interim obligations under federal securities laws. The proposal is not…
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Why CEO Bill McDermott says ServiceNow’s 39% stock crash is Saaspocalypse ‘nonsense’ and why AI will make it a trillion-dollar company
Bill McDermott’s time at the helm of ServiceNow has been nothing if not eventful. Months after he became CEO at the end of 2019, the COVID pandemic shut down the global economy; then in late 2022, ChatGPT kicked off an AI revolution that continues to transform the business world. Throughout all the tumult, McDermott has…
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$96 billion giant ServiceNow doesn’t see a ‘SaaSpocalypse.’ It sees the ‘hard lift, heavy lifting’ phase just beginning
For the past four years, enterprise software conferences have been defined by a kind of competitive breathlessness: which company could announce the most AI agents, the boldest automation claims, the most mind-bending demos. At ServiceNow’s Knowledge 2026, the company’s two top customer-facing executives are having very different conversations. The era of AI feature wars is…
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Elon Musk called Anthropic ‘evil’ 3 months ago. Now he’s taking $4 billion to become its data landlord
Three months ago, Elon Musk wrote on X that Anthropic was “evil,” “misanthropic,” and that the AI lab hated Western civilization. On Wednesday, he leased Anthropic one of his most valuable assets: the world’s biggest supercomputer. But Anthropic-lovers shouldn’t bask too long in Musk’s newfound praise (even if he did decide that “nobody set off…
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The AI job apocalypse is ‘unhelpful marketing, bad economics and worse history,’ a16z says
The doomsday forecasts have been building for years: AI will hollow out the white-collar workforce, destroy entry-level jobs, and create a permanent underclass of technologically displaced workers. Now, one of Silicon Valley’s most influential firms has published a detailed rebuttal saying, basically, don’t believe the hype. In a new essay published Tuesday, Andreessen Horowitz General…
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Stripe CEO Patrick Collison says a wave of token theft is wreaking havoc on the AI economy
The booming AI economy is spawning a new type of cybercrime. According to Patrick Collison, CEO of payment giant Stripe, crooks are defrauding AI firms by signing up for new accounts in order to steal tokens used to buy computing power. The problem has become so rampant, says Collison, that token thieves now account for…
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Addiction, emotional distress, dread of dull tasks: AI models ‘seem to increasingly behave’ as though they’re sentient, worrying study shows
ChatGPT probably tells you that it’s “happy to help.” Claude apologizes when it makes mistakes. AI models push back when users try to manipulate them. Most people, including the engineers who build these systems, have dismissed this as performance, or simple mimicry of the internet it has scrapped. A new paper from the Center for…
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Gusto’s path to $1 billion in revenue, milestone-by-milestone
After closing, a San Francisco flower market isn’t exactly idyllic. But in 2012, Eddie Kim and Tomer London, cofounders of HR software startup Gusto, were there to see Christina Stembel. The owner of Farmgirl Flowers, Stembel needed to hire her first employee and, accordingly, had to set up payroll for the first time. She’d been…