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Techmeme
March 28, 2025, 11:05 PM
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Top News

CNBC:
Elon Musk says xAI acquired X in an all-stock deal valuing xAI at $80B and X at $33B; xAI was reportedly in talks to raise funds in February at a $75B valuation  —  Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values …
Bloomberg:
Source: the new combined entity housing xAI and X is called XAI Holdings and is valued at more than $100B, not including debt  —  - New joint entity is valued at over $100 billion, person says  — X, xAI already partnered on data sharing and Grok distribution
Pete Schroeder / Reuters:
The US FDIC says banks can engage in cryptocurrency and other legally permitted activities without prior regulatory approval if they manage risks appropriately  —  Another U.S. bank regulator has announced that banks do not need to receive advance permission to engage in some crypto-related activities.
Wall Street Journal:
Sources: OpenAI is finalizing a $40B round led by SoftBank, receiving $10B initially and another $30B by 2025's end if it restructures into a for-profit company  —  A stipulation of the funding round, led by SoftBank, adds pressure to OpenAI's efforts to convert to a for-profit company
Jordan Novet / CNBC:
CoreWeave closes flat at $40 in its Nasdaq debut; CoreWeave's offering is the largest US IPO since UiPath's NYSE debut in 2021  —  CoreWeave's stock opened at $39 and closed at $40 in its Nasdaq debut on Friday after the company sold shares at $40 a piece, below the expected range.
CNBC:
CoreWeave raised $1.5B in its IPO, selling ~37.5M shares at $40 each, down from a planned 49M shares at $47-$55; source: Nvidia anchored with a ~$250M order
CNBC:
Trump pardons BitMEX founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who previously pled guilty to federal criminal charges related to money laundering  —  President Donald Trump has granted pardons to three co-founders of the BitMEX cryptocurrency exchange, CNBC has learned.
Steven Levy / Wired:
Anthropic researchers share the surprises they observed while watching Claude think: planning ahead, confusion between safety and helpfulness goals, lying, more  —  Researchers looked inside the chatbot's “brain.”  The results were surprisingly chilling.  —  The researchers …
Steven Levy / Wired:
Interviews with Dario Amodei, Daniela Amodei, and other executives about Anthropic's origin, Claude, why DeepSeek isn't a threat, reaching AGI safely, and more
Luisa Beltran / Fortune:
A jury finds Frank founder Charlie Javice guilty of defrauding JPMorgan Chase by falsifying Frank user numbers; the charges carry a maximum sentence of 30 years  —  A Manhattan jury on Friday issued a guilty verdict against Charlie Javice, the 33-year-old CEO who duped JPMorgan Chase into buying …
Makena Kelly / Wired:
Sources: DOGE aims to migrate all Social Security Administration's computer systems off COBOL in a matter of months, risking the integrity of SSA infrastructure  —  Social Security systems contain tens of millions of lines of code written in COBOL, an archaic programming language.
Zac Bowden / Windows Central:
In the latest Windows 11 preview build, Microsoft removed the “bypassnro” command, which let users skip signing into a Microsoft Account when installing Windows  —  The popular “bypassnro” command, which let users to skip connecting to the Internet and signing into a Microsoft Account, is being removed.
Bloomberg:
Source: hackers broke into Oracle's Cerner servers sometime after January 22 and stole patient data to extort US medical providers; the FBI is investigating  —  - The FBI is investigating the incident from earlier this year  — Hacker used stolen logins to access old servers, Oracle said
Ivan Mehta / TechCrunch:
Google starts offering user choice billing in the UK, initially to non-game developers, says 90%+ of developers are satisfied with Google Play's native billing  —  Google said today that it will start offering user choice billing in the U.K., giving Google Play developers the ability to use …

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The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Anna Nicolaou / Financial Times:
CNN plans to launch a digital subscription in the UK and Canada, for £4.99 and CA$7.99 per month, on October 20, as it seeks $1B in subscription revenue by 2030

Benjamin Mullin / New York Times:
Hillary Clinton and Kara Swisher partner to launch High Stakes, a weekly midterm election podcast produced by Vox Media that will run through mid-November

Reuters:
Reporters say Indian police detained ~36 journalists from the Indian Express and other outlets for hours while covering youth protests on October 10 and 11

More News

Abner Li / 9to5Google:
Google says Pixel 9a will launch in the US, Canada, and UK on April 10; the company delayed the phone's launch to April to check “on a component quality issue”
Olivia Solon / Bloomberg:
AppLovin hires a law firm to investigate short sellers' allegations that the mobile ad company's ad performance numbers are fraudulent

Earlier Picks

Sarah Wynn / The Block:
Crypto.com says the US SEC won't pursue enforcement action; Crypto.com sued the SEC in October after receiving a Wells notice signaling potential charges
Sheon Han / Wired:
How Paul Ginsparg, a Cornell University physics professor, created the digital repository arXiv nearly 35 years ago to help researchers share their preprints
Financial Times:
Sources: the EU will impose minimal fines on Apple and Meta next week, far below the DMA's 10% of global turnover cap, to avoid tensions with President Trump
Amanda Silberling / TechCrunch:
Nintendo unveils Virtual Game Cards, letting users transfer existing digital Switch games to other consoles and lend them out more easily, available in April
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