Tech
tech
David Crowther

We’re in the “mention AI as soon as you can” stage of business reporting

Productivity software company Asana, which is currently run by Facebook cofounder Dustin Moskovitz, just reported its Q1 earnings, with revenue clocking in at $187.3 million in the first three months of the company’s latest fiscal year.

As a relatively small software name, with a market cap of just ~$4 billion, Asana is unlikely to be a bellwether for broader insights into demand for B2B software. But what is interesting, in my opinion, is that the company’s press release for the earnings begins with a quote from its CEO:

“Just months after launching AI Studio, we’ve already crossed $1 million in ARR and head into Q2 with a robust, rapidly growing global pipeline.”

For a company with an annual revenue run rate close to $750 million, highlighting that it’s taken a new product “months” to reach ~0.13% of that amount in the very first line of your press release is certainly a choice, and it’s telling of just how desperate executives are to get their company — and indeed its stock price — associated with the AI trade.

For what it’s worth, investors don’t seem to love the print, with the stock trading 11% lower in the premarket.

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Jon Keegan

Judge blocks Pentagon’s move to blacklist Anthropic

A federal judge in Northern California has granted a preliminary injunction blocking the Pentagon from labeling Anthropic as a national security supply chain risk.

The ruling temporarily prevents the Defense Department from restricting the AI company’s access to federal contracts amid a dispute over its refusal to allow certain military and surveillance uses of its technology. The designation could also have shifted lucrative government work toward competitors, including OpenAI.

Earlier this month, Anthropic, the company behind Claude, sued 17 federal agencies and their heads, alleging the government exceeded its statutory authority.

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