Techmeme
March 29, 2025, 11:20 AM

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 …
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Bloomberg:
Source: the new combined entity housing xAI and X is called XAI Holdings and is valued at more than $100B but less than $113B, since X already owned part of xAI  —  - New joint entity is valued at over $100 billion, person says  — X, xAI already partnered on data sharing and Grok distribution
Arfa Javaid / Financial Express:
Replit CEO Amjad Masad says learning to code is a waste of time, citing Dario Amodei's prediction that AI may generate essentially all code by next year  —  Repli CEO Amjad Masad said that since AI will take over coders in future, one should not waste time on studying coding now.
Alex Kantrowitz / Big Technology:
World History Encyclopedia, the second most visited history site, says its traffic fell 25% in Nov. 2024 after AI search tools began presenting its information  —  World History Encyclopedia CEO Jan van der Crabben saw his site show up in Google's AI Overviews and ChatGPT.  Then traffic dropped 25%.
Bain:
India's e-commerce market grew 10%-12% YoY to ~$60B in GMV in 2024, versus historical rates of over 20%, with 270M+ people shopping online, second only to China  —  Executive summary  —  India has become a retail powerhouse over the last decade, ascending to the third largest retail market globally in 2024.
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.
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
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
New York Times:
US tech companies are racing to establish more and bigger offshore campuses in India, fully staffed with highly skilled professionals in cities like Bengaluru  —  An abundance of motivated young professionals is luring American businesses to base their global operations in Indian cities.
Debarghya Sil / Inc42 Media:
Gensol's troubles cast doubt on the future of Indian EV ride-hailing firm BluSmart, founded by Gensol's promoters; BluSmart has raised $180M in debt and equity  —  There seems to be no respite for Gensol Engineering and ride-hailing startup BluSmart.  In a fresh development …
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:

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Sarah Wynn / The Block: