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Techmeme
October 28, 2025, 12:30 PM
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Top News

Bret Taylor / OpenAI:
OpenAI completes its recapitalization, “simplifying” its structure; OpenAI Foundation now has equity valued at ~$130B and still controls the OpenAI for-profit  —  OpenAI has completed its recapitalization, simplifying its corporate structure.  The nonprofit remains in control …
Microsoft:
Microsoft now holds a ~$135B investment in OpenAI Group PBC, or a ~27% stake, down from 32.5%; OpenAI commits to purchase an additional $250B in Azure services  —  Since 2019, Microsoft and OpenAI have shared a vision to advance artificial intelligence responsibly and make its benefits broadly accessible.
Bloomberg:
Microsoft gets access to OpenAI tech through 2032, including models post-AGI but excluding consumer hardware; OpenAI can now develop products with third parties  —  OpenAI is giving its long-time backer Microsoft Corp. a 27% ownership stake as part of a restructuring plan that took nearly …
Bloomberg:
Amazon says it will cut ~14,000 jobs from its corporate workforce, after cutting 27,000 across 2022 and 2023; the company had 1.55M employees globally in June  —  Amazon.com Inc. plans to eliminate roughly 14,000 corporate jobs just months after Chief Executive Officer Andy Jassy warned that AI will shrink the company's workforce.
Steven Adler / New York Times:
An ex-OpenAI staffer of four years says it isn't doing enough to protect users, especially those with mental health issues, and needs to offer more than words  —  I've read more smut at work than you can possibly imagine, all of it while working at OpenAI.  —  Back in the spring of 2021 …
Washington Post:
Grokipedia, a Grok-based encyclopedia, launches with 885K+ articles, drawing from Wikipedia content; Elon Musk called it “a massive improvement” over Wikipedia  —  The right-leaning tech magnate is touting his own online encyclopedia as an unbiased alternative, but it went down after about an hour.
Jay Peters / The Verge:
xAI's Grokipedia says Grok fact-checked its entries and some “content is adapted from Wikipedia”; some pages, like the PS5's, are almost identical to Wikipedia  —  Some of Grokipedia's pages say that content is ‘adapted’ from Wikipedia.
Jess Weatherbed / The Verge:
At its Adobe Max event, Adobe unveils AI tools for Photoshop, Premiere Pro, and Lightroom, and says Firefly Image 5 can generate images in native 4MP resolution  —  Adobe's Creative Cloud and Firefly apps are adding new ways to do labor-intensive photo and video editing tasks for you.
Financial Times:
Truth Social launches Truth Predict, a prediction market platform in partnership with Crypto.com to let users trade on major current events like elections  —  US president's social media platform enters prediction market sector  —  Donald Trump's Truth Social platform is to offer users …
Hugh Son / CNBC:
PayPal CEO Alex Chriss says the company signed a deal with OpenAI to let shoppers use PayPal's digital wallet in ChatGPT to pay for items, starting in 2026  —  PayPal has signed a deal with OpenAI to have its digital wallet embedded into ChatGPT so users can pay for items found through …
Bloomberg:
PayPal reports Q3 revenue up 7% YoY to $8.4B, total payment volume up 8% to $458.1B, above $450.3B est., and raises its FY 2025 EPS forecast; PYPL jumps 10%+
Tim Bradshaw / Financial Times:
Substrate, which aims to challenge TSMC, raised $100M+ from Founders Fund, General Catalyst, and others at a $1B+ valuation as it seeks to boost US chip making  —  Substrate plans to use particle accelerators to lower cost of chip manufacturing  —  Silicon Valley investors …
Financial Times:
Visible Alpha: Apple's Services unit revenue is set to hit $108.6B in the year to September, its first time above $100B and up 13% YoY, ahead of its Q4 results  —  Tech giant's high-margin unit has doubled in size over the past five years  —  Apple is set to top $100bn in annual revenues …
Liz Napolitano / CNBC:
Securitize, a blockchain company that tokenizes investments, files to go public via a SPAC started by Cantor Fitzgerald, valuing Securitize at $1.25B pre-money  —  Securitize, the “real world assets” platform that powers BlackRock's tokenized money market fund, will go public through a merger …
Tage Kene-Okafor / TechCrunch:
Mem0, which aims to build a “memory passport” so users' AI memory can travel across their devices, apps, and agents, raised $24M, including a $20M Series A  —  Taranjeet Singh (pictured right) has launched six companies, with some failing and others seeing varying degrees of success.
Emma Roth / The Verge:
After AWS's major outage, Signal's Meredith Whittaker says there “isn't really another choice” but to use AWS and “the entire stack” is “owned by 3-4 players”  —  Meredith Whittaker is using the AWS outage as an opportunity to highlight the 'concentration …
Jillian Deutsch / Bloomberg:
Nvidia plans to invest $1B in Nokia for a 2.9% stake in the company, an apparent vindication of the Finnish company's pivot from mobile networking to AI  —  Nvidia Corp. plans to make a $1 billion equity investment in Nokia Oyj, an apparent vindication of the Finnish company's pivot …

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From Mediagazer

Jasper Ward / Reuters:
Filing: a US judge dismisses with prejudice Trump's defamation lawsuit against Wall Street Journal regarding a birthday card to Jeffrey Epstein signed by Trump

Shaun Walker / The Guardian:
The closure of Novaya Gazeta “is not just our own story; it is the story of a country and a society that are being systematically crushed”, said its EIC

Frédéric Durand / What's on Netflix:
Netflix's engagement problems can't be solved by focusing on “quality”, wide theatrical runs, or weekly releases; instead, more original content is needed

More News

Subrat Patnaik / Bloomberg:
Apple crosses a $4T market cap in intra-day trading, making it only the third public company ever to reach the milestone; AAPL is up 56% since its April low

Earlier Picks

Agence France-Presse:
Meta and TikTok say they will comply with Australia's under-16 social media ban, taking effect on December 10, but warn the landmark law may be hard to enforce
Vallari Srivastava / Reuters:
NextEra Energy and Google sign a 25-year power supply deal, which includes restarting the 615MW Duane Arnold nuclear plant in Iowa, shut down in 2020
Asa Fitch / Wall Street Journal:
A look at Anthropic's success in corporate AI, which makes up ~80% of its revenue; a July report put its enterprise API market share at 32%, above OpenAI's 25%
Ashley Capoot / CNBC:
OpenAI urges the US to commit to building 100GW of new energy capacity each year to stay ahead of China in AI, and says “electrons are the new oil”
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