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Palantir’s AI Boom; Ryan Cohen’s ChutzpahThe Briefing

Palantir’s AI Boom; Ryan Cohen’s Chutzpah

Is Palantir soaking up all the growth in the enterprise software sector? That seems like a reasonable question judging by the company’s first-quarter results released on Monday, which showed 85% revenue growth. That’s an astounding growth rate for a business that’s 23 years old. Even better, Palantir turns a lot of that revenue into pure cash. Indeed, its free cash flow of $892 million in the quarter was more than its revenue in the year-earlier quarter. (This article from March explains why...

Coinbase to Cut 14% Jobs, Citing Market Conditions and AI

The job cuts will affect about 700 employees and eliminate “pure managers.”

a16z Crypto Raises $2.2 Billion for New Fund

Andreessen Horowitz returned to the market with its first new crypto fund since 2022.

ServiceNow Expects Revenue Will Double to $32 Billion by 2030

The projection assumes that ServiceNow will succeed in its strategy of selling software for managing AI agents in addition to its current role of primarily helping companies track and manage IT issues.

Bank Trade Groups Say Stablecoin Reward Compromise ‘Falls Short’

The surprise statement shows banks are not yet satisfied with current bill language.

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AI Startup Sierra Says It’s Raising at Over $15 Billion Valuation

The AI customer service agent startup said Monday it is raising $950 million in a funding round led by Tiger Global Management and Google Ventures. 

Palantir Shares Flat After Earnings Despite U.S. Sales Growth

Palantir is benefiting as more U.S.-based companies and government agencies build AI applications, prompting the company to raise its annual sales forecast.

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Trump Administration Weighs New AI Model Guardrails

The White House is considering an executive order that would bring together AI executives and government officials to review regulations.

Cisco to Acquire Agent Security Startup Astrix

Cisco announced its intent to acquire Israeli cybersecurity startup Astrix, confirming The Information’s report from April.

Pinterest Reports 18% Revenue Growth in Q1

The digital bulletin board firm said its monthly active user count grew 11%, down a slightly slower growth rate than the fourth quarter.

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OpenAI Sets up $10 Billion Private-Equity Joint Venture

The money will help OpenAI hire these consultants rapidly.

OpenAI’s Brockman Says Stake is Worth Close to $30 Billion

President and co-founder confirmed number under questioning from Elon Musk’s lawyer in trial.

Musk Messaged Brockman About Settlement

The message is the first known instance of settlement talks in the case.
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