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The CLARITY Act's Stablecoin Compromise Is the First Real Crypto Markup Likely to Pass
Policy & Regulation

The CLARITY Act's Stablecoin Compromise Is the First Real Crypto Markup Likely to Pass

Senate Banking marks up CLARITY Act on May 14 with a stablecoin yield compromise. What is actually agreed vs. what the press is calling it.

Nadia Rao
Anthropic's Annual Revenue Just Passed OpenAI's
Markets & Money

Anthropic's Annual Revenue Just Passed OpenAI's

Anthropic's $30B ARR just passed OpenAI's $24B for the first time. The trajectory matters more than the cross.

Sam Whitaker
Nvidia Has Quietly Become a $40 Billion Strategic Investor
Big Tech

Nvidia Has Quietly Become a $40 Billion Strategic Investor

Nvidia is up to $40B in strategic equity bets across its supply chain and customers in 2026 — half a year of free cash flow. Where they're betting and why.

Sam Whitaker
China's Hanyuan-2 Is the First Dual-Core Neutral-Atom Quantum Computer
Hardware & Devices

China's Hanyuan-2 Is the First Dual-Core Neutral-Atom Quantum Computer

CAS Cold Atom launched Hanyuan-2, a 200-qubit dual-core neutral-atom quantum computer. The architecture matters more than the qubit count.

Maya Iverson
Four Chinese Labs Just Hit Frontier-Class Coding in 12 Days
AI & ML

Four Chinese Labs Just Hit Frontier-Class Coding in 12 Days

DeepSeek V4, GLM-5.1, MiniMax M2.7, and Kimi K2.6 all shipped open-weights coding models in 12 days at frontier capability — and lower inference cost than Claude or GPT.

Maya Iverson
Apple Quietly Hedges Its Bet on TSMC
Hardware & Devices

Apple Quietly Hedges Its Bet on TSMC

Apple is in early talks with Intel and Samsung to manufacture core device chips in the US — the first real diversification away from TSMC. What is actually on the table.

Maya Iverson
Cerebras Files at $26.6 Billion. The Order Book Says That's Conservative.
Startups & Funding

Cerebras Files at $26.6 Billion. The Order Book Says That's Conservative.

Cerebras filed an amended S-1 to sell 28M shares at $115–125, valuing it up to $26.6B. Banks are fielding $10B in orders for $3.5B on offer. The math.

Jordan Beck
The AI Power Build-Out Is the Largest Energy Project in American History
Markets & Money

The AI Power Build-Out Is the Largest Energy Project in American History

Five companies are spending $400B on AI infrastructure this year, half of it on the electricity to run it. Nobody is calling this the energy story it actually is.

Hank Reed
Trellix's Source-Code Disclosure Has the Quiet Tells of a Bigger Breach
Cybersecurity

Trellix's Source-Code Disclosure Has the Quiet Tells of a Bigger Breach

Trellix says no source code was exfiltrated. Independent researchers reviewing RansomHouse's leak think the attackers reached VMware, Rubrik, and Dell EMC systems. Read the careful language.

Nadia Rao
OpenAI at $852 Billion: A Valuation, a Vibe, and a Math Problem
Markets & Money

OpenAI at $852 Billion: A Valuation, a Vibe, and a Math Problem

OpenAI just raised $122B at $852B post. We have seen private valuations like this before. Some of them were right; most were not. How to think about which kind this is.

Hank Reed
After Anthropic's Mythos, the Trump Administration Is Quietly Embracing AI Rules It Once Rejected
Policy & Regulation

After Anthropic's Mythos, the Trump Administration Is Quietly Embracing AI Rules It Once Rejected

Federal officials are drafting AI safety oversight after a single Anthropic capability disclosure changed the threat conversation. What is actually proposed.

Nadia Rao
Big Tech's Q1 Split the Magnificent Seven Down the Middle
Big Tech

Big Tech's Q1 Split the Magnificent Seven Down the Middle

Microsoft, Amazon, and Alphabet beat. Meta tumbled 8%. The dividing line was who is getting paid for the AI capex and who is still funding it.

Sam Whitaker