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March 28, 2025, 6:50 PM
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Top News

CNBC:
Elon Musk says xAI has acquired X in an all-stock transaction valuing xAI at $80B and X at $33B  —  Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values the artificial intelligence company at $80 billion and the social media company at $33 billion.
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  —  CoreWeave on Thursday priced shares at $40 in the company's IPO, raising $1.5 billion in the biggest U.S. tech offering since 2021, CNBC has confirmed.
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
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.
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.
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.
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, more  —  The brother goes on vision quests.  The sister is a former English major.  Together, they defected from OpenAI, started Anthropic …
Jeremy Kahn / Fortune:
Anthropic says it created a new tool for deciphering how LLMs “think” and used it to resolve some key questions about how Claude and probably other LLMs work
Carmen Reinicke / Bloomberg:
Reddit shares are down 50% from a February high, after its Q4 earnings report showed its traffic took a hit from a change in Google's search algorithm  —  Reddit's outlook seemed precarious because its US traffic took a hit from a change in Google's search algorithm.
Bluesky: @willoremus.com.  X: @rustybrick.  Forums: Beehaw
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  —  - Crypto.com said that the SEC will not file an enforcement action against the company.  — Crypto.com sued the SEC in October …
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 …
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  —  Brussels to push ahead with enforcing digital rules on Big Tech groups but with low financial penalties for breaches

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From Mediagazer

Ashley Carman / Bloomberg:
Bill Simmons and Spotify canceled a ChatGPT partnership after audience backlash; Ringer hosts Sean Fennessey and Amanda Dobbins had voiced unease on air

Brian Steinberg / Variety:
Source: NBC News will stop airing one hour of primetime programming on the NBC News Now streaming service, eliminating the Stay Tuned show and a handful of jobs

Rajeev Syal / The Guardian:
A UK jury convicts two Iranians of assisting Iranian intelligence in a plan to “eliminate” journalists at London-based Persian broadcaster Iran International

More News

Emily Nicolle / Bloomberg:
Michael Novogratz's Galaxy Digital will pay $200M as part of a settlement with the New York AG over the firm's role in promoting the failed Luna cryptocurrency
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
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

Earlier Picks

Debby Wu / Bloomberg:
Taiwan is investigating 11 Chinese tech firms, including SMIC, which is being probed for allegedly poaching engineers to access the island's advanced chip tech
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
Aisha Malik / TechCrunch:
Google rolls out new Search, Maps, and Gemini features to help plan vacations, including hotel price drop alerts and turning screenshots into holiday plans
Maxwell Zeff / TechCrunch:
After OpenAI released ChatGPT's new image generator, social media has been flooded with AI memes in the style of Studio Ghibli, highlighting copyright concerns
More: Smashing Frames, Blood in the Machine, Associated Press, USA Today, eWeek, VICE, 404 Media, Business Insider, Fast Company, Laptop Mag, The Decoder, New York Post, Adweek, Windows Central, Axios, TheGamer, Spyglass, Entrepreneur, Time, Mashable, The Angle, Fortune, ZDNET, New York Times, 80 Level, Tom's Guide, The Verge, The American Conservative, The Verge, and Reservoir Samples
Bluesky: @harrymccracken.com, @positronplays, @carnage4life, @jasonkoebler, @theinnerobserver, @andybrockman, @prietschka, and @atherton
Mastodon: @tansy@wandering.shop, @testobsessed@ruby.social, @intelgraphy@infosec.exchange, and @GossiTheDog@cyberplace.social.  Threads: @nateinthewild
X: @sama, @whitehouse, @sama, @sama, @pjaccetturo, @shilstone_arts, @levelsio, @heybarsee, @mdurbar, @nuberodesign, @kantrowitz, @zemotion, @holyn, @nikitabier, @signulll, @loudmouthjulia, @loudmouthjulia, @emollick, @trungtphan, @grantslatton, @quantian1, @tszzl, @joannejang, @ausscreenwriter, @metaplexmovies, @minimaxir, @nabeelqu, @slimjosa, @katienotopoulos, @f_edits, @cyantist, @8teapi, @altryne, @sahilriz, @noheeriye, @emanuelsa, @johnbiggs, @tszzl, @tszzl, @trungtphan, @bcmerchant, @morganb, @halvarflake, @pjaccetturo, @balajis, @michael_nielsen, @sama, @nickmillermusic, @ednewtonrex, @venturetwins, @gergelyorosz, @nearcyan, @nearcyan, @grantslatton, @sama, @pelziee, @hkesvani, @787fka, @imbethmccoll, @kilimeeeen, @space_b0y_, @thecaptain_nemo, @tom_westgarth15, @r3h8t, @uncledoomer, @cpaik, @jiratickets, @indian_bronson, @ednewtonrex, @adtac_, @peduarte, @bizlet7, @mrewanmorrison, @bartlebytaco, @guiltfoyle, @bigblackjacobin, @btckaz, @thejasonrink, @nikitabier, @hebennigatu, @gdb, @niles100, @thekitze, @wildbarestepf, @tobi, @loudmouthjulia, @petergyang, @tracewoodgrains, @uncledoomer, and @adonis_singh
Forums: r/ArtistHate, r/ArtistHate, r/technology, r/singularity, r/artificial, Beehaw, and Slashdot
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