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Jon Keegan

OpenAI raising $40 billion for a $340 billion valuation

The Wall Street Journal is reporting that ChatGPT maker OpenAI is seeking a new $40 billion round of fundraising, more than doubling its current valuation to $340 billion.

Last week, at the White House, OpenAI announced the “Project Stargate” $500 billion AI infrastructure joint venture with partners Oracle and SoftBank.

According to the report, SoftBank is leading this new round of fundraising with a $10 billion to $15 billion investment in the company.

This investment approaches the size of Microsoft’s $13 billion investment, and follows a $6.6 billion round in October, which valued the company at $157 billion.

Exclusive | OpenAI in Talks for Huge Investment Round Valuing It Up to $340 Billion

Exclusive | OpenAI in Talks for Huge Investment Round Valuing It Up to $340 Billion

According to the report, SoftBank is leading this new round of fundraising with a $10 billion to $15 billion investment in the company.

This investment approaches the size of Microsoft’s $13 billion investment, and follows a $6.6 billion round in October, which valued the company at $157 billion.

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Rani Molla

Alphabet’s Waymo to add 200 square miles of coverage area to existing markets

Waymo, a subsidiary of Alphabet, announced today that it’s expanding its coverage area by 200 square miles in several existing markets, including Miami, the San Francisco Bay Area, Houston, Austin, and Atlanta. That will bring its total coverage area to more than 1,400 square miles. The autonomous car service is currently offering public rides in 11 markets, after expanding to Nashville last month.

25%
Rani Molla

AI companies are amping up their spending in Washington as they push for federal approval for more data centers and industry-friendly rules regarding their use of copyrighted material, among other asks, The New York Times reports, citing data from nonprofit watchdog Public Citizen. 25% of currently registered federal lobbyists are now involved in pushing AI interests. That’s more than double what it was — 11% — in 2023. Meta, Nvidia, and Alphabet spent $47.8 million combined last year, up 22% from 2024.

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Rani Molla
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Rani Molla

Microsoft’s LinkedIn to lay off 5% of staff, Reuters reports

Reuters is reporting that Microsoft subsidiary LinkedIn is preparing to lay off 5% of its 17,500 staff, the latest in a string of tech cutbacks this year. Reuters doesn’t yet know what teams are affected, but a source said the reason wasn’t AI replacing jobs. LinkedIn sales rose 12% last quarter compared with a year earlier, representing accelerating growth.

Exclusive: LinkedIn planning to lay off 5% of staff in latest tech-sector cuts, source says

Exclusive: LinkedIn planning to lay off 5% of staff in latest tech-sector cuts, source says
Max Knoblauch
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