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Bay Area Times Daily - May 21, 2026

1. SpaceX files for Nasdaq IPO under SPCX as Musk holds 85.1% voting control

SpaceX revenue +33% YoY to $18.7B on a $4.9B loss as costs and expenses reached $21.3B:

Bloomberg.

• $75B is the targeted IPO raise.

• Jun. 4: proposed share sale terms are expected to be disclosed, with pricing set for Jun. 11.

• SpaceX listed at least 1M inhabitants on Mars among its long-term goals.

• Anthropic is paying SpaceX $1.25B/month through May 2029 under its compute agreement, according to the S-1 filing.

• SpaceX capex rose to $20.7B in 2025 from $11.2B a year earlier.

• SpaceX plans another $2.8B in turbine purchases for data centers, including a $2B mobile gas turbine deal tied to ongoing litigation.

Starlink subscribers reached 8.9M in 2025

• +105% YoY to 10.3M Starlink subscribers in Q1 2026.

• Starlink accounted for ~67% of SpaceX sales in Q1 2026.

• xAI posted a $6.4B operating loss on $3.2B revenue in 2025.

• Grok and X had a combined 550M MAUs as of Mar. 2026, with 117M using Grok AI features.

• SpaceX set aside $530M for potential litigation losses, including lawsuits tied to Grok’s “Spicy” mode.

• Relatedly, Binance has launched SpaceX pre-IPO perpetual futures on its platform.

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3. OpenAI said to prepare confidential IPO filing Fri., targeting Sep. debut

• Goldman Sachs and Morgan Stanley are reportedly helping OpenAI draft an IPO prospectus for regulators.

• The plans remain fluid and could still change.

• OpenAI won a legal fight with Elon Musk earlier this week, clearing a major roadblock.

• Sam Altman has reportedly pushed for an IPO, while OpenAI’s CFO told leaders the company may need more time.

Separately, OpenAI said an internal reasoning model disproved a 1946 Paul Erdős geometry conjecture

OpenAI tested how model success rates changed with more test-time compute after verifying the initial proof:

OpenAI.

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5. Anthropic expects $10.9B in Q2 revenue, +130% QoQ, $559M operating profit, first ever

WSJ.

• $4.8B in Q1 revenue disclosed.

• Anthropic’s accounting methods remain unclear and differ from OpenAI’s.

• Anthropic counts cloud partner sales as revenue, while OpenAI does not.

6. NVIDIA Q1 FY27 revenue +85% YoY to $81.6B, net income +211%, topping estimates

• $79.2B in Q1 revenue was estimated by analysts.

• +92% YoY in data center revenue to $75.2B.

• NVIDIA announced $80B in additional buybacks and raised its dividend to $0.25/share from $0.01.

• $91B in Q2 sales projected, vs. $86B est., though below the most bullish forecasts.

NVIDIA’s revenue growth has slowed from its 2024 peak

FT, Visible Alpha.

NVIDIA drove ~20% of S&P 500 gains in 2026, though its stock is +20% vs. SOX’s +67%

Bloomberg.

• NVIDIA has “largely conceded” China’s AI chip market to Huawei and expects no relief on chip sale approvals, CEO Jensen Huang said.

7. Cohere releases Command A+ sparse MoE open model for agentic tasks

Command A+ is in line with Claude 4.5 Haiku and slightly above NVIDIA Nemotron 3 Super on the Artificial Analysis Intelligence Index:

X: Artificial Analysis.

• 218B parameters with 25B active.

• Apache 2.0 licensed.

• Available via Hugging Face, Model Vault, Cohere Space, and the Cohere API.

Command A+ delivered faster output than Gemini 3.5 Flash and GPT-OSS-120B in Artificial Analysis testing

X: Artificial Analysis.

Command A+ also ranked first on the AA-Omniscience Hallucination benchmark

X: Artificial Analysis.

8. Mercury raises $200M Series D led by TCV at $5.2B valuation

• Sequoia Capital, a16z, and Coatue also participated.

• $650M in annualized revenue and profitable for 4 years.

• 300K+ customers, with 33% made up of early-stage startups.

• Mercury recently received conditional approval from the OCC to become a federally regulated bank.

9. China robotics funding hits record $5.6B in 2026, matching 2021 peak amid IPO wave

Crunchbase.

HSG, Wuxi Innovation, and Shenzhen Capital are among the most active investors in 2026

Crunchbase.

10. Interesting videos, posts, and memes

11. Other headlines

AI

• Manus founders seek $1B+ buyback after Meta unwind order: sources.

• Pentagon said to launch AI hacking task force for cyber operations.

• Google tests new AI-powered ad formats in Search, AI Mode.

• Exa raises $250M at $2.2B valuation for AI agent search engine.

• Stability AI launches Stable Audio 3.0 with six-minute song generation.

Tech

• AMD pledges $10B+ for Taiwan chip expansion, begins Venice production.

• Ubisoft posts record $1.4B operating loss, forecasts further sales decline.

• Intuit to lay off ~3K employees as it sharpens AI focus.

Tech & Law

• Elon’s X settles Australia dispute after court upholds CSAM disclosure fine.

• Meta, Snap, Roblox adopt tougher anti-grooming measures: Ofcom.

Biotech

• Lysoway’s Alzheimer’s drug enters Phase I with cellular cleanup approach.

• Wearable blood pressure ring gains UK medical approval.

• Longevity gains legitimacy as science, capital mature.

• Fitness industry shifts toward preventive health, longevity focus.

Business

• JPMorgan to hire more AI workers, fewer bankers: Dimon.

Crypto

• Copper, crypto custody firm, explores $500M sale: sources.

• Polymarket adds parlays as SEC reviews prediction market ETFs.

U.S. politics

• Trump winning streak masks broader voter discontent.

• Cuba’s Raúl Castro charged by U.S. over 1996 shootdown case.

World

• Iran vows retaliation beyond Mideast as Trump renews pressure.

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Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

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0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 20, 2026

1. Gemini 3.5 Flash debuts as Google’s latest model for coding, agentic workflows

Gemini 3.5 Flash marked a significant jump over Gemini 3 Flash on the Artificial Analysis Intelligence Index:

X: Artificial Analysis.

• Gemini 3.5 Flash costs $1.5/$9 per 1M input/output tokens, versus GPT-5.5’s $5/$30, Opus 4.7’s $5/$25, and Kimi K2.6’s $0.95/$4.

  • 3x Gemini 3 Flash Preview’s $0.5/$3 pricing.

• Available to consumers through the Gemini app and Google Search’s AI Mode.

• Google Search added longer queries, image/video uploads, and Gemini 3.5 Flash-powered search agents.

• Gemini 3.5 Flash-powered Gemini Spark debuted as a “24/7 personal AI agent” with Google Workspace integration.

• Gemini 3.5 Pro will launch next month, Sundar Pichai said at Google I/O keynote, prompting groans from attendees expecting an earlier release.

Separately, Google launched Gemini Omni, a multimodal model for video generation and editing

Google.

• Gemini Omni is initially available to Google AI subscribers, without an API release.

• Google’s Flow and Flow Music now support Gemini Omni.

• YouTube Shorts Remix and Create apps also received Gemini Omni support.

  • YouTube also added a conversational search feature.

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Most AI note-takers just transcribe what was said and send you a summary after the call.
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3. Andrej Karpathy, OpenAI co-founder, joins Anthropic to advance Claude pretraining

• Karpathy will help launch a new team focused on using Claude itself to accelerate pretraining.

• The hire marks a major win for Anthropic in the intensifying AI talent race.

• 2022: Karpathy left Tesla as director of AI and has since become one of the field’s most influential public educators.

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5. Google’s Gemini app tops 900M MAUs, gets Neural Expressive redesign

• Neural Expressive, featuring fluid animations, vibrant colors, new typography, and haptic feedback, is rolling out across web, Android, and iOS.

• The Gemini app on macOS is getting Gemini Spark and new voice features later this summer.

• Google is processing 3.2 quadrillion tokens per month, up from 480T a year ago, Sundar Pichai said.

• Google also restructured its AI plans with a new $100/month AI Ultra tier for devs.

6. Gemini for Science announced to help researchers test hypotheses, analyze literature

Google.

• Hypothesis Generation, Computational Discovery, and Literature Insights with NotebookLM support are part of the suite.

• Google also introduced Science Skills, a specialized bundle with insights from 30+ major life science databases and tools.

• Researchers can sign up for access to Gemini for Science.

• Separately, Google unveiled Universal Cart, a shopping assistant built on the Universal Commerce Protocol, rolling out in the U.S. today.

• Google Pics was also announced as an AI image editor for Workspace, rolling out this summer to AI Pro and Ultra users.

• Gemini, Docs, and Keep also received new conversational features for AI Pro and Ultra subscribers.

7. Meta begins layoffs impacting 8K employees as 7K workers shift to AI initiatives

• The cuts began in Singapore, where layoff emails were sent to workers at 4 a.m. local time.

• Meta offices were expected to be largely empty on Wed. after HR advised employees to work from home this week.

• Hundreds of employees planned to gather for drinks in NY on Tue. to “commiserate or celebrate, pick your poison.”

• 1K+ employees signed a petition opposing Meta’s AI data-tracking program.

8. OpenAI launches Guaranteed Capacity with multi-year compute access commitments

Sam Altman said he hopes the offering will be a “big win-win” for both OpenAI and its customers:

X: Sam Altman.

• Customers can choose 1- to 3-year commitments at discounted prices.

• OpenAI will ensure enough compute capacity remains available for ChatGPT and Codex, Altman said.

• OpenAI also added support for Google’s SynthID watermarks for AI-generated images and previewed a public verification portal.

9. Take It Down Act takes effect, mandating rapid removal of intimate images from social media

X: FTC.

• Platforms must remove content within 48 hours of a user report and provide users with a simple takedown request process.

• Civil penalties could exceed $53K per violation for companies that fail to comply.

• The FTC launched a website for reporting companies that fail to remove nonconsensual intimate images upon victim requests.

• May 2025: Donald Trump signed the Take It Down Act targeting nonconsensual intimate imagery.

• Meta, Microsoft, Google, TikTok, Snap, and X supported the bill.

• The law’s takedown provision alarmed free speech advocates and some online abuse opponents, including supporters of its criminalization provisions.

10. NVIDIA’s business development unit said to lead much of $90B AI dealmaking push across 145+ companies

NVIDIA and its venture arm NVentures significantly accelerated investments over the past year:

FT, PitchBook.

• NVIDIA committed ~$47B to investments and partnerships in the year through Jan. 25 and earmarked another $43B in the four months since.

The carrying value of NVIDIA’s private investment portfolio surpassed $20B in 2026

FT.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• Anthropic faces skeptical judges over DOD risk designation.

• Zyphra to raise $500M at $5B+ for AMD-powered AI models: sources.

• Cursor acquisition by SpaceX targeted 30 days after Jun. 12 IPO: sources.

• Singapore signs AI partnerships with Google, OpenAI in $234M+ push.

Tech

• Apple reorganizes hardware teams to speed silicon development: sources.

• Samsung rejects labor proposal as May 21 strike looms.

• Android 17 adds Continue On feature similar to Apple’s Handoff.

• GitHub confirms 3.8K repository breach tied to malicious VS Code extension.

Biotech

• Glycans emerge as modifiable biomarker tied to aging, lifespan.

• GLP-1 drugs eyed as potential brain longevity therapies.

• Immune system rebuilding emerges as new frontier in longevity science.

• Matter Bio advances pancreatic cancer immunotherapy into human trials.

• Microbiome therapy revives melanoma immunotherapy response.

Business

• Japan stocks face pressure as benchmark bond yield nears 3%.

Crypto

• Polymarket partners with Nasdaq on private company prediction markets.

• Prediction markets banned in Minnesota as CFTC files lawsuit.

U.S. politics

• Massie defeat in Kentucky underscores Trump’s grip on GOP.

World

• Iran threatened with “big hit” by Trump if no deal is reached soon.

• Xi, Putin sign trade, energy agreements.

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Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

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All times are ET.

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 19, 2026

1. Elon Musk’s lawsuit against Sam Altman rejected by jury as time-barred, appeal planned

Musk said the decision was a “calendar technicality”:

X: Elon Musk.

• Musk’s claims fell outside a 3-year statute of limitations, the court found.

• 2024: Musk sued Sam Altman and OpenAI, alleging they violated a commitment to keep the AI lab nonprofit.

• “It’s not a technical decision, it’s a substantive one,” OpenAI’s lead attorney said.

“We necessarily have to appeal because this will become precedent,” Elon said

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3. Blackstone, Google form AI cloud venture with $5B initial commitment

Representational image generated using ChatGPT.

• 2027: the new company aims to bring 500MW of computing capacity online.

• Google will supply TPUs, software, and services to the venture.

• Longtime Google executive Benjamin Treynor Sloss will serve as CEO of the new company.

• Blackstone will be the majority owner and is expected to support ~$25B in compute investments, including leverage.

• Google and Blackstone have already identified data centers likely to be included in the venture.

4. The AI notepad for people in back-to-back meetings.*

Granola.

Looking for an AI notetaker for your meetings?

Granola is a lot more.

Most AI note-takers just transcribe what was said and send you a summary after the call.
Granola is an AI notepad. And that difference matters.

You start with a clean, simple notepad. You jot down what matters to you and, in the background, Granola transcribes the meeting.

When the meeting ends, Granola uses your notes to generate clearer summaries, action items, and next steps, all from your point of view.

Then comes the powerful part: you can chat with your notes. Use Recipes (pre-made prompts) to write follow-up emails, pull out decisions, prep for your next meeting, or turn conversations into real work in seconds.

Think of it as a super-smart notes app that actually understands your meetings.

Download Granola and try it for your next meeting. Free month with the code BAYAREATIMES

Download Granola

*Sponsored.

5. Anthropic co-founder Christopher Olah to join Pope Leo for AI encyclical launch on May 25

X: Chris Olah.

• The encyclical Magnifica Humanitas will bear the Pope’s signature dated May 15.

• The Vatican secretary of state will also speak at the encyclical’s publication.

6. Anthropic’s Mythos users can share cybersecurity threats under policy shift

Representational image generated using ChatGPT.

• Anthropic modified its earlier stance amid concerns that limiting access to the information could hurt smaller companies.

• Last week: Anthropic began allowing companies to share cyber threats and Mythos findings with other entities if done responsibly.

• ~50 large companies and operators of critical digital infrastructure have access to Mythos through Project Glasswing.

• Palo Alto Networks and Mozilla are among Mythos users that have already begun sharing some findings publicly.

• Relatedly, Cloudflare tested Mythos on 50+ repositories, highlighting its ability to chain bugs into exploits.

7. DOJ creates $1.8B fund in Trump IRS settlement deal

Representational image generated using ChatGPT.

• Trump will not receive any money directly from dropping his $10B lawsuit.

• The fund is aimed at individuals and groups alleging government weaponization under Joe Biden.

• The group includes ~1.5K people prosecuted over the Jan. 6 Capitol attack.

• Anyone, regardless of political affiliation, can file payment claims from the fund, the DOJ said.

• Critics condemned the arrangement as an inappropriate “slush fund” for Trump allies.

8. Cursor launches Composer 2.5 built on Kimi K2.5, taking on Opus 4.7, GPT-5.5

Composer 2.5 delivered benchmark results comparable to Opus 4.7 and GPT-5.5:

Cursor.

• Targeted RL and textual feedback are part of the new model.

• 25x more synthetic tasks were used to train the model versus Composer 2.

• Composer 2.5 marks the start of its work with SpaceXAI, Cursor said.

• Composer 2.5 costs $0.5/$2.5 per 1M input/output tokens, versus Opus 4.7’s $5/$25 and GPT-5.5’s $5/$30 for prompts under 272K tokens.

9. Meta reassigns 7K workers to AI units ahead of layoffs impacting ~8K employees

Representational image generated using ChatGPT.

• 4 new units building AI tools and apps will receive the reassigned workers, according to a staff memo.

• The units will use “AI-native design structures” and have fewer managers per employee than other parts of the company.

• Wed.: company leaders are expected to send details about the new roles.

• Meta is set to lay off 10%, or ~8K employees, on Wed.

10. Big Tech capex to hit record $700B in 2026 amid AI boom

Benedict Evans.

Monthly global semiconductor billings topped $100B in Mar. 2026

Benedict Evans.

Samsung, Intel, and TSMC capex is expected to reach ~$150B this year

Benedict Evans.

U.S. data center construction spending is overtaking office construction

Benedicts Evans.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• xAI offered workers tax filing data for Grok training, chats show.

• DeepMind alumni startups raise $14B+ as Hassabis backs Anthropic: sources.

• Anthropic acquires API SDK startup Stainless in $300M+ deal.

• Decart raises $300M at ~$4B valuation for generative video, GPU tech.

• Mistral acquires Austria’s Emmi AI to expand industrial AI push in Europe.

Tech

• Sony raises PlayStation Plus prices in some regions over market conditions.

Biotech

• Parkinson’s therapy aims beyond dopamine with new treatment approach.

• Høeg ousted as FDA drug division turmoil deepens.

• Diathrive partners with AliveCor to target heart-diabetes risk.

• Plaque damage may be reversible, new cholesterol data suggests.

Business

• NextEra to buy Dominion Energy in $67B utility megadeal.

Crypto

• Bitcoin Depot files for bankruptcy citing rising compliance burdens.

• Strategy buys $2B more Bitcoin, holdings top 4% of supply.

• Iran launches Bitcoin-backed “Hormuz Safe” shipping insurance service.

U.S. politics

• TrumpRx adds 600+ generic drugs through Mark Cuban partnership.

World

• Russia oil waiver extended by U.S. as Iran war tightens supplies.

• Iran bombing delayed after Gulf states pushed diplomacy: Trump.

• Philippines says Taiwan conflict would likely force involvement.

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Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

Please read our Terms of Service and our Privacy Policy before using Our Service.

Brought to you by:

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 18, 2026

1. Elon’s SpaceX said to target Jun. 12 Nasdaq IPO after fast SEC review

Representational image generated using ChatGPT.

• This week: SpaceX is reportedly set to make its prospectus public.

• Jun. 4: roadshow is being targeted.

• “SPCX” is expected to be the company’s Nasdaq ticker.

• SpaceX is expected to raise ~$75B at an ~$1.75T valuation, potentially the largest stock market flotation ever.

• Lead bookrunners include Morgan Stanley, Bank of America, Citigroup, JPMorgan Chase, and Goldman Sachs.

• BlackRock has reportedly discussed a $5B-$10B investment in SpaceX’s IPO as a confidence vote.

• The listing would mark a major win for Nasdaq amid competition from New York Stock Exchange.

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3. OpenAI reorganizes product teams under Greg Brockman strategy role

• Brockman will lead OpenAI’s product strategy, per a memo internally on Fri.

• He had previously been assigned on an interim basis to oversee products while Fidji Simo was on sick leave.

• OpenAI is folding ChatGPT, Codex, and its developer-facing API into one core product team.

• OpenAI’s Codex chief Thibault Sottiaux will lead the core product and platform teams.

• ChatGPT head Nick Turley will oversee OpenAI’s enterprise products.

OpenAI has launched personal finance tools for U.S. ChatGPT Pro users through a Plaid partnership

OpenAI.

• Plaid will manage account connections to 12K+ financial institutions, including Charles Schwab, Fidelity, JPMorgan, Robinhood, AMEX, and Capital One.

• Users need to connect their bank accounts to access financial tools through ChatGPT.

• A dashboard will show portfolio performance, spending, subscriptions, and upcoming payments.

4. The AI notepad for people in back-to-back meetings.*

Granola.

Looking for an AI notetaker for your meetings?

Granola is a lot more.

Most AI note-takers just transcribe what was said and send you a summary after the call.
Granola is an AI notepad. And that difference matters.

You start with a clean, simple notepad. You jot down what matters to you and, in the background, Granola transcribes the meeting.

When the meeting ends, Granola uses your notes to generate clearer summaries, action items, and next steps, all from your point of view.

Then comes the powerful part: you can chat with your notes. Use Recipes (pre-made prompts) to write follow-up emails, pull out decisions, prep for your next meeting, or turn conversations into real work in seconds.

Think of it as a super-smart notes app that actually understands your meetings.

Download Granola and try it for your next meeting. Free month with the code BAYAREATIMES

Download Granola

*Sponsored.

5. Anthropic, OpenAI dominate AI startup revenue as market hits ~$80B run-rate

Anthropic and OpenAI are accounting for 89% of leading AI startup revenue:

The Information.

• +112% in AI startup annualized revenue from six months ago.

• Most AI value may accrue to top model developers rather than pure AI app makers, reinforcing investor arguments.

Anthropic and OpenAI are cementing an AI revenue duopoly

The Information.

• Smaller startups relying on Anthropic and OpenAI could face pressure as the firms expand into industry-specific AI.

6. Anthropic said to brief FSB on financial risks identified by Mythos

Representational image generated using ChatGPT.

• Bank of England governor Andrew Bailey reportedly asked Anthropic to brief the FSB on the Mythos Preview.

• Many FSB members are reportedly growing alarmed about Mythos’ potential risks.

• Jun.: the FSB plans to release AI adoption guidelines for the financial system.

7. China retail sales +0.2% YoY in Apr., industrial production +4.1% as slowdown deepens

Retail sales growth missed forecasts in the weakest reading since Dec. 2022, while industrial production saw its slowest growth in 3 years:

Bloomberg, National Bureau of Statistics.

China’s fixed-asset investment was -1.6% YoY in Apr.

Bloomberg, National Bureau of Statistics.

China’s car sales were -15% YoY in Apr., the worst decline since mid-2022

Bloomberg, National Bureau of Statistics.

• -21% in gold, silver, and jewelry sales.

• Purchases of home appliances and furniture also declined at a double-digit pace.

8. Humanoid robot funding hits record $5.1B in 2026 YTD as VC interest surges

PitchBook.

• 1 in every 4 dollars invested in robotics is going to humanoids, per PitchBook.

9. Samsung Galaxy S26 sales +15% in first 6 weeks vs. S25 launch period

Counterpoint.

10. Interesting videos, posts, and memes

11. Other headlines

AI

• OpenAI acquires AI voice cloning startup Weights.gg: sources.

• Apple to launch revamped Siri beta with auto-delete chats: report.

• OpenAI backs Malta AI program with free ChatGPT Plus access.

• ArXiv to ban authors over AI-generated research papers.

• Runway hits $5.3B valuation after adding $40M ARR in Q2.

Tech

• DayOne seeks $5B dual IPO at ~$20B valuation: report.'

• Trump traded up to $750M in tech stocks in Q1: filings.

• Apple expands strategy of repurposing binned chips for cheaper devices.

• Shein to acquire Everlane in $100M deal: source.

• Microsoft retires Teams Together Mode to focus on meeting quality.

Tech & Law

• Arm faces FTC probe over alleged chip market monopoly.

• OpenAI backs stronger Illinois AI safety bill over liability shield proposal.

• YouTube, Snap, TikTok settle lawsuit over social media addiction claims.

Biotech

• RNA editing liver therapy gets FDA fast-track status.

• Non-opioid therapy shows promise for osteoarthritis pain relief.

• Fitnescity pushes for higher DEXA standards.

• Alzheimer’s gene linked to neuronal DNA resilience.

• Longevity equity seen as central challenge for preventive healthcare.

Business

• Yardeni urges Fed to drop easing bias as bond yields climb.

• Gina Rinehart invested ~$100M in U.S. weapons makers in Q1.

• China slowdown revives stimulus talk as consumption weakens.

Crypto

• Kraken cuts ~150 staff as AI boosts efficiency, IPO delayed: source.

• Polymarket, Kalshi face U.S. scrutiny over Iran, Venezuela wagers: sources.

U.S. politics

• Saikat Chakrabarti challenges Pelosi seat on insurgent platform.

World

• U.S.-Iran deal remains distant as bond rout pressures Trump.

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Bay Area Times Daily - May 15, 2026

1. OpenAI said to weigh legal action against Apple over Siri deal

Representational image generated using ChatGPT.

• OpenAI lawyers are reportedly working with an outside law firm on potential legal options.

• Sending Apple a notice alleging breach of contract is among the options being explored.

• OpenAI expected more ChatGPT subscribers and deeper Siri integration through the Apple deal.

• Limited use of OpenAI technology across Apple’s platforms has frustrated OpenAI internally.

• Apple has had its own raised concerns about whether OpenAI does enough to protect user privacy.

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3. Cerebras +68% after year’s biggest U.S. IPO raises $5.5B

Google Finance: Cerebras stock.

• ~60% more than initially targeted was raised through Cerebras’ IPO.

• Trading gives Cerebras a $67B market value based on outstanding shares and an ~$83B fully diluted valuation.

• The IPO is the biggest since Medline Industries’s $7.2B offering in Dec. and the largest-ever U.S. semiconductor listing, topping Arm Holdings’ $5.23B raise in 2023.

• 25x+ oversubscribed, according to Cerebras’ CEO.

• Cerebras’ CEO and CTO held stakes worth $3.2B and $1.7B, respectively.

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5. Musk v. Altman closes with clash over Sam Altman credibility claims

Representational image generated using ChatGPT.

• Harms before Aug. 2021 cannot be claimed because Musk waited too long to sue, OpenAI argued.

• “Liar” label for Altman resurfaced in Musk lawyer’s closing arguments.

• “Sam Altman’s credibility is directly at issue in this case,” Musk attorney Steven Molo said.

• Judge rebuked Musk lawyer over claim that lawsuit does not seek billions in damages.

• Musk’s testimony was contradicted by every other witness, OpenAI lawyer said.

6. Anthropic said to agree to $30B raise co-led by Sequoia, others at $900B valuation

• Dragoneer, Greenoaks, and Altimeter Capital are reportedly the other co-leads.

• $2B+ is expected to be invested by each co-lead in the round.

• Anthropic is reportedly in talks with additional investors for the remainder of the funding.

Separately, OpenAI's CFO said the company may raise more capital as compute demand outpaces capacity

$122B was raised by OpenAI at an $852B valuation in Mar.:

• The latest funding round has given OpenAI “a lot of optionality,” CFO Sarah Friar said.

• 900M weekly active ChatGPT users and computing power remain a “huge competitive advantage” for OpenAI, Friar said.

7. OpenAI brings OpenClaw-like remote Codex control to ChatGPT mobile app

OpenAI.

• Users can remotely control Codex sessions running on a connected computer from a phone.

• Working across threads, reviewing outputs, approving commands, and changing models are all supported through the ChatGPT mobile app.

• Remote control for Codex on Mac is live, while Windows support will follow, OpenAI said.

8. xAI co-founder Igor Babuschkin said to seek up to $1B for new AI startup at up to $5B valuation

Representational image generated using ChatGPT.

• River AI is the name of Babuschkin’s new AI research startup.

• General Catalyst is reportedly in talks to lead the round.

• Up to $100M of Babuschkin’s own capital could also be invested in the startup.

• 50+ researchers and engineers have left xAI since the SpaceX acquisition, with many joining Meta and TML.

9. U.S. retail sales +0.5% in Apr., third consecutive gain despite gas surge

Bloomberg, U.S. Department of Commerce.

• 9 of 13 retail categories posted gains, including sporting goods, online merchants, and electronics, while motor-vehicle sales fell.

• +2.8% in gas station receipts as the Iran war pushed fuel prices to their highest levels since 2022.

10. Interesting videos, posts, and memes

11. Other headlines

AI

• Alphabet sells record $3.6B yen bonds as AI spending accelerates.

• Anthropic urges U.S. to tighten AI curbs to stay ahead of China.

• Mythos helped build macOS exploit bypassing Apple security tech.

• Microsoft to replace most Claude Code licenses with Copilot CLI: sources.

• Anthropic, Gates Foundation pledge $200M for AI health, education push.

• Shopify gets ~$100M Thrive investment on AI commerce bet: report.

Tech

• Intel tests production of legacy Apple chips as TSMC shifts to AI: sources.

• Pershing Square takes new Microsoft stake after stock decline: Ackman.

• Figma Q1 revenue +46% YoY to $333.4M.

Tech & Law

• California proposes 7.25% tax on web software sales.

• Anthropic’s $1.5B author lawsuit settlement faces U.S. judge review.

Biotech

• Cancer cells self-destruct with new CRISPR system.

• Alzheimer’s risk may be spotted with at-home fingerprick test.

• Function acquires SuppCo to verify supplement claims.

• Google Health redesign could upend wearable industry.

Business

• Toyota files to build $2B assembly line in Texas.

Crypto

• Bitcoin tops $80K as Clarity Act advances in Senate.

• Gemini +22%+ after $100M capital injection, Q1 revenue beat.

U.S. politics

• IRS suit to be dropped for $1.7B Trump ally compensation fund: sources.

• Abortion pill access preserved by Supreme Court during lawsuit.

• Cuba’s Raúl Castro faces possible U.S. indictment: sources.

World

• Xi says China, U.S. agreed to stabilize trade ties after Trump summit.

• Iran war tests U.S.-China alignment as Beijing stays cautious.

• Cuba’s eastern provinces hit by major blackout after grid collapse.

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Bay Area Times Daily - May 14, 2026

1. Anthropic tops OpenAI in business adoption as run-rate nears $50B by Jun.-end

Anthropic’s business adoption +3.8% MoM in Apr. to 34.4%, while OpenAI’s -2.9% to 32.3%, per Ramp AI Index:

Ramp.

• Anthropic has quadrupled business adoption over the past year, while OpenAI’s grew just 0.3%, Ramp data showed.

• The Ramp figures offer an incomplete picture of enterprise adoption, as large enterprises typically don’t pay for software via credit cards, an OpenAI spokesperson said.

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3. Cerebras prices IPO above range at $185/share, valued at $56.4B fully diluted

Representational image generated using ChatGPT.

• $5.55B+ will be raised through the IPO by selling 30M shares.

• 4.5M additional shares can be purchased by underwriters.

• $150-$160/share was the expected IPO range.

• 24% of Cerebras’ 2025 revenue came from G42, down from 85% in 2024.

• 62% of revenue came from the UAE’s Mohamed bin Zayed University of Artificial Intelligence.

• Arm and SoftBank reportedly explored acquiring Cerebras weeks before the IPO, but were rebuffed.

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5. Trump-Xi meeting coincides with U.S. clearing NVIDIA H200 sales to Alibaba, Tencent, others

Representational image generated using ChatGPT.

• ~10 Chinese companies were reportedly approved by the Commerce Department for NVIDIA H200 purchases.

• Lenovo and Foxconn are among the distributors approved for H200 sales in China.

• ByteDance, JD.com, and other Chinese firms could purchase the chips as a result.

• The Trump-Xi meeting lasted more than two hours, with both sides signaling interest in more stable ties.

• China will continue opening up and offer more opportunities for U.S. firms, Xi said.

• “Collision or even clashes” if the Taiwan issue is mishandled, Xi said, while Taipei pushed back.

• Relatedly, OpenAI has backed a U.S.-led global AI body with China as member, akin to IAEA.

6. Google said to unveil new Gemini model at I/O on Tue.

Representational image generated using ChatGPT.

• The new model is expected to rival GPT-5.5 but remain well short of Mythos.

7. Musk v. Altman filing reveals Sam Altman holds $2B+ in startup stakes tied to OpenAI

Representational image generated using ChatGPT.

• Elon Musk’s lead trial lawyer exhibited a document detailing Altman’s holdings in nine companies.

• $1.7B of Altman’s holdings are tied to Helion Energy, while $633M is in Stripe.

• $4B net worth amassed by Altman despite holding no direct equity in OpenAI.

• Altman sold his stake in Reddit by 2025-end, the filing showed.

• “Obvious conflict” existed in Altman leading Reddit partnership talks in May 2024, Musk lawyer Steven Molo said.

• $100B+ spent by Microsoft on OpenAI, including investments and infrastructure, executive Michael Wetter testified.

8. Cisco +17% on AI demand despite ~4K job cuts

MarketWatch: Cisco stock.

• <5% of Cisco’s workforce affected by the latest layoffs.

• AI cited as the reason for the cuts.

• +12% YoY in Q3 FY26 revenue to $15.8B, vs. $15.5B est.

• +35% in net income to $3.4B.

• $16.7B-$16.9B in Q4 revenue projected, vs. $15.8B est.

9. Fed gets new chair as Senate confirms Kevin Warsh in narrowest-ever 54-45 vote

Representational image generated using ChatGPT.

• John Fetterman was the only Democrat to cross party lines and back Warsh to succeed Jerome Powell.

• Democrats fear Warsh could bend to Trump’s demands to rapidly lower interest rates.

• Warsh vowed to preserve the Fed’s tradition of making interest-rate decisions free from political pressure.

• Trump has made clear he expects Warsh to lower borrowing costs immediately.

10. Anthropic launches Claude for Small Business with AI back-office tools

Anthropic.

• New services include bookkeeping functions, business insights, and tools for ad campaigns.

• Features are available within Claude Cowork for business users.

• Integrations include QuickBooks, Canva, DocuSign, HubSpot, and PayPal.

• Claude Agent SDK credits were also unveiled for paid plans, allowing programmatic use of third-party agents including OpenClaw.

Mythos Preview became the first AI model to complete AISI cyber ranges, while GPT-5.5 solved only one

AISI.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• SK Hynix nears $1T valuation on AI boom.

• Mind Robotics, RJ Scaringe’s venture, raises $400M at $3.4B valuation.

• Microsoft discusses $1B+ acquisition of LLM startup Inception: sources.

• Grok tested by Apollo, Morgan Stanley as xAI targets finance sector: sources.

• Microsoft adds new AI browsing features to Edge.

Tech

• Apple explores AI agent integration for App Store: report.

• LinkedIn cuts ~5% of workforce in restructuring: sources.

• Modal seeks $4.5B valuation as annualized revenue reaches ~$300M.

• Jensen Huang foundation buys $108.3M in CoreWeave compute.

• a16z makes first Gulf investment in Stitch’s $25M round.

Tech & Law

• Apple criticizes EU DMA AI access rules over privacy risks.

• Shutterstock to pay $35M in FTC settlement over subscription practices.

• OpenAI backs Kids Online Safety Act, Illinois AI bill.

Biotech

• Monthly obesity shot moves closer to market.

• OpenEvidence says 650K U.S. doctors use its AI medical search tool.

• Longevity Academy expands clinical training programs.

• Restore bets on rising NAD+ demand.

• WHOOP expands into clinical care as Fitbit becomes Google Health.

Business

• Honda posts first annual loss after $9B EV writedown.

Crypto

• Ledger puts U.S. IPO plans on hold due to market conditions.

• Charles Schwab rolls out U.S. spot crypto trading.

• Nevada regulators push back after prediction market backlash.

U.S. politics

• AI lobbying surges in Washington as OpenAI opens DC office.

• a16z tops U.S. midterm donors with $115.5M in spending.

• ‘Trump Bucks’ scam puts Balkan pair in FBI crosshairs.

World

• Bolsonaro ties to Banco Master CEO shake Brazil presidential race.

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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 13, 2026

1. Anduril raises $5B at $61B valuation led by Thrive, a16z

• 2027: Anduril could go public.

• Anduril will invest “aggressively” in manufacturing, R&D, and infrastructure, CEO Brian Schimpf said in an investor note.

• $2.2B in revenue was generated by Anduril in 2025 as it nearly doubled its workforce.

• $6.82B has been raised by the defense tech company to date.

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3. Anthropic said to seek $30B-$50B funding round at up to $950B valuation

• The round would value Anthropic above OpenAI’s last reported $852B valuation if completed.

• May-end: the funding round is expected to close.

• Meanwhile, Anthropic named 8 unauthorized secondary marketplaces, including Hiive and Forge Global, warning related share sales are void.

Anthropic is also reportedly in talks to acquire API SDK startup Stainless for at least $300M

Representational image generated using ChatGPT.

• OpenAI, Google, and Anthropic are among Stainless customers using its tools to simplify API access.

• Anthropic may use some stock to help fund the acquisition.

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5. Google said to discuss rocket launch deal with SpaceX, others

Representational image generated using ChatGPT.

• A launch deal would put Google and SpaceX in partnership as both expand efforts around orbital data centers.

• Google was an early investor in SpaceX and owns a 6.1% stake in the company.

• 2025: Google announced plans to launch prototype satellites by 2027 under its Project Suncatcher initiative.

6. Sam Altman said to discuss OpenAI-backed AI compute venture

Representational image generated using ChatGPT.

• OpenAI would hold a majority stake in the venture, though it would not rely solely on OpenAI’s business.

• The venture would operate similarly to Stargate’s original data center initiative.

7. Google unveils Googlebook laptops with unified ChromeOS-Android platform

Google.

• This fall: Dell, HP, and other partners will launch Googlebook laptops.

• Cast My Apps lets users run Android apps from a phone on a Googlebook device without downloads.

• Create My Widget generates widgets using AI prompts.

• Google also announced Pause Point, which forces a 10-second pause before opening apps marked as distractions.

• Google DeepMind unveiled a Gemini-powered mouse pointer that understands on-screen context for task assistance.

• Google worked with Meta to improve Instagram on Android and with Apple to streamline iOS-to-Android transfers.

8. Elon sought full control of proposed OpenAI for-profit arm, Sam Altman says

Representational image generated using ChatGPT.

• “Extremely uncomfortable” was how Altman described Musk’s insistence on complete control of OpenAI’s proposed for-profit arm.

• Musk said he only wanted control of the entity in its early days, Altman told jurors.

• $3.75M was contributed by Altman to the nonprofit when it first started, before he later gave “a multiple of that” in equity interests to employees.

• Musk’s attorney asked, “Are you completely trustworthy?” and Altman replied, “I believe so.”

9. n8n lands SAP investment at $5.2B valuation, expands automation partnership

• The investment was a secondary transaction, allowing some early n8n backers to sell shares.

• SAP is signing a multiyear deal to embed n8n’s tools into its AI agent builder, Joule Studio.

• €100M+ (~$117M) in annual recurring revenue is currently generated by the startup.

10. OpenAI set to hold ~$2.6B in CoreWeave, Cerebras stock

OpenAI has struck unusual partnership deals with CoreWeave, AMD, and Cerebras:

The Information.

• OpenAI’s stake in Cerebras could rise to 11% over the coming years through chip purchases.

• OpenAI could account for 90% of Cerebras sales in 2026-2027, per its prospectus and investor forecasts.

• Sam Altman and Greg Brockman have also been investors in Cerebras since 2017.

Cerebras is expected to generate $800M in revenue in 2026 and $3.2B in 2027, up from ~$510M in 2025

The Information.

11. Isomorphic Labs, Google DeepMind spinoff, confirms $2.1B raise led by Thrive for AI drug discovery

X: Demis Hassabis (Isomorphic Labs founder and CEO).

• Google Ventures, Alphabet, MGX, Temasek, and CapitalG also participated.

• 2026-end: Isomorphic Labs expects its 1st clinical trials after delaying its earlier 2025 target.

12. Interesting videos, posts, and memes

13. Other headlines

AI

• Anthropic’s Mythos deployed by DoW for cybersecurity.

• Google hires “forward deployed engineers” for enterprise AI.

• Recursive Superintelligence raises $650M+ at $4B valuation.

• Wispr AI seeks ~$260M round at $2B valuation: sources.

• Junyang Lin seeks $2B valuation for new AI lab: report.

• Anthropic launches 12 Claude plugins for legal sector.

• SAP launches Autonomous Enterprise AI automation suite.

• RSL Media launches AI consent licensing standard.

Tech

• Jensen Huang joins Trump’s China trip.

• Amazon Now 30-minute delivery service expanded across U.S. cities.

• Threads tests Meta AI replies similar to X’s Grok in 5 countries.

• Meta schedules Connect 2026 event for Sept. 23-24.

• EchoStar wins FCC approval for spectrum sales to SpaceX, AT&T.

• Photonic raises additional $70M at $2B valuation for quantum computing.

Biotech

• Metis TechBio +185% in Hong Kong debut after ~$270M IPO.

• COSRX launches peptide serum for skin longevity.

• Clene gets FDA nod for ALS accelerated path.

• Abu Dhabi opens a real-world test lab for longevity.

• Longer lifespans raise growing risks around care, financial security.

• NAD+ webinar to examine whether delivery methods affect effectiveness.

Business

• CME, Silicon Data launch futures market tied to GPU computing capacity.

Crypto

• CFTC holds talks with major sports leagues on prediction markets.

• Nevada regulators push back after conference criticism.

• Elliptic raises $120M as AI reshapes crypto security.

U.S. politics

• FDA’s Makary forced out after clashes with Trump priorities.

• Golden Dome could cost $1.2T, budget office says.

World

• Iran oil shipments halt at Kharg Island for first time since war began.

• Hormuz workaround relies on huge truck convoys.

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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 12, 2026

1. OpenAI launches Daybreak cybersecurity push to rival Anthropic’s Project Glasswing

Daybreak uses GPT-5.5 by default, which trails Anthropic’s Mythos Preview on some key benchmarks:

• GPT-5.5 TAC and GPT-5.5-Cyber will also be available to select users.

• Codex Security is integrated for secure code review, patch validation, dependency risk analysis, threat detection, and remediation guidance.

• Early partners include Cloudflare, Cisco, CrowdStrike, Palo Alto Networks, Oracle, and Zscaler, among others.

• The service is not fully public yet, though organizations can request vulnerability scans or contact sales.

• Coming weeks: broader deployment with industry and government partners is planned.

Separately, OpenAI launched the OpenAI Deployment Company with a $4B+ investment for AI deployments

Representational image generated using ChatGPT.

• OpenAI is also acquiring AI consulting firm Tomoro to help scale the new unit.

• The unit is backed by a TPG-led partnership with 19 firms, including Advent, Bain Capital, and Brookfield

• OpenAI will retain majority ownership and control of the unit.

• It’s valued at $14B post-money, with investors guaranteed a minimum 17.5% return and capped profits.

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3. Elon never raised concerns about Microsoft’s OpenAI investment, Nadella says

Representational image generated using ChatGPT.

• Microsoft invested in OpenAI when “no one else was willing” to back the AI startup, Nadella said in his testimony.

• Microsoft’s OpenAI investments were not donations, Nadella said.

• Musk named Microsoft as a defendant in his lawsuit against OpenAI and its CEO Sam Altman.

• Last month: Musk said Microsoft’s $10B investment violated OpenAI’s nonprofit mission.

• Microsoft generated ~$9.5B in revenue from its OpenAI partnership as of Mar. 2025, executive Michael Wetter said.

• Ilya Sutskever testified his OpenAI stake is worth ~$7B and that he had concerns about Altman before his brief ouster.

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5. Thinking Machines Lab announces real-time AI interaction models

Thinking Machines’ small interaction model delivered competitive results on early benchmarks tested by the startup:

Thinking Machines Lab.

• Coming months: the models will enter limited research preview, with a broader release planned later this year.

• Features include seamless dialog management, verbal and visual interjections, and simultaneous speech.

The interaction model can delegate deeper reasoning to a background model asynchronously

Thinking Machines Lab.

6. Cerebras upsizes IPO to $150-$160 range, targeting up to $4.8B at valuation of up to $34.4B

Representational image generated using ChatGPT.

• Cerebras plans to offer 30M shares, up from 28M shares previously planned at a $115-$125 range.

• Demand has reportedly exceeded 20x the shares available.

• May 13: the IPO is expected to price.

Polymarket traders expect a $50B+ market cap on day 1

Polymarket.

7. OpenAI said to cut Microsoft revenue-sharing payments to $38B from $135B by 2030

The Information.

• The new payment cap amounts to ~$97B in savings for OpenAI.

• It could strengthen OpenAI’s IPO pitch by reducing projected cash burn and improving long-term free cash flow.

The cap comes as OpenAI and Microsoft amend their partnership

The Information.

• Separately, the House Oversight launched a probe into Sam Altman’s investments as GOP AGs called for an SEC review.

8. U.S. existing home sales +0.2% MoM to 4.02M in Apr. as spring season begins

The median selling price +0.9% YoY to a record $417,700:

Bloomberg.

• First-time buyers represented 33% of purchasers, down slightly from a year earlier.

• Inventory of previously owned homes rose to 1.47M, the highest for any April since 2019.

• Midwest and South contract closings increased.

9. China exports hit $500M/hr as AI-driven shipments surge

China chip exports doubled to $31.08B in Apr.:

Bloomberg, General Administration of Customs.

China’s crude oil imports +13% YoY in value but -20% in volume

Bloomberg, General Administration of Customs.

China vehicle exports +54% in the first 4 months of 2026, hitting $16B in Apr., the 2nd-highest on record

Bloomberg, General Administration of Customs.

10. Elon’s Grok downloads fall to ~8.3M in Apr. from 20M+ peak in Jan.

WSJ, AppMagic.

Grok was at 7% enterprise adoption versus 48% for Claude, per ETR survey

WSJ, Enterprise Technology Research.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• White House cyber office, CAISI clash over leadership of AI model evaluations.

• Anthropic launches Claude Platform on AWS with managed agents.

• Digg relaunches as AI news, social commentary aggregator.

• Google reports 1st known AI-discovered, weaponized zero-day attack.

• South Korea rattles markets with proposed AI “citizen dividend”.

Tech

• Wise plans Nasdaq debut as annual revenue rises 19%.

• Helsing raising $1.2B at ~$18B valuation led by Dragoneer, Lightspeed: report.

• Cowboy Space raises $275M at $2B valuation for orbital data centers.

• Robinhood confidentially files for 2nd venture fund focused on startups.

Tech & Law

• Cellular modules from China face potential Trump admin ban.

Biotech

• AI regenerative medicine targets skin recovery after cancer surgery.

• Interstitium may help explain acupuncture’s effects on body.

• Cognitive decline may be more preventable than once believed: experts.

• Hospitals face growing pressure to adapt to longevity-focused care.

• Allen Law outlines vision for “Longevity Century”.

• Scarlet raises $4M as lab-grown blood matches donor cell survival.

Business

• Bessent, Japan agree FX volatility is undesirable.

Crypto

• Circle raises $222M in Arc token presale at $3B valuation.

U.S. politics

• Federal gas tax suspension backed by Trump.

• California mayor resigns after admitting to acting as China agent.

World

• Iran ceasefire hangs by thread after U.S. rejects latest peace offer.

• Trump, Xi to meet in Beijing on Thu. for high-stakes trade, Iran war.

• UAE secretly carried out strikes on Iran: report.

• UK 30-year yields top 1998 high amid deepening political crisis.

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Bay Area Times Daily - May 11, 2026

1. Intel +14% to record $628B as Apple said to reach chip manufacturing deal

Google Finance: Intel stock.

• It remains unclear which Apple products Intel would manufacture chips for.

• Trump personally advocated for Intel with Apple CEO Tim Cook.

• A $9B U.S. government grant and a 10% stake in Intel helped bring Apple to the table.

• Intel has also signed partnerships with NVIDIA and SpaceX following Commerce Department efforts.

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3. White House said to ready AI cybersecurity order without mandatory model testing

Representational image generated using ChatGPT.

• The draft EO would expand U.S. cyber information-sharing programs to include AI companies and threats.

• Finding and patching vulnerabilities across federal, state, and local networks would reportedly become easier under the planned changes.

• It remains unclear when Trump could sign the measure, which is still subject to change.

• The directive would emphasize voluntary participation by AI developers instead of government testing before release.

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5. Isomorphic Labs, Google DeepMind spinout, said to near $2B+ Thrive-led round

Representational image generated using ChatGPT.

• Alphabet is also reportedly participating, though the round has not yet closed.

• The funding would support Isomorphic’s drug design engine and global expansion.

6. Cerebras said to raise IPO range to $150-$160, targeting ~$4.8B, vs. $3.5B originally

Representational image generated using ChatGPT.

• 30M could be the number of shares offered, vs. 28M mentioned in the filings earlier.

• A $115-$125 IPO range was previously set by Cerebras in its filings.

7. NVIDIA tops $40B in AI equity deals in 2026, including OpenAI stake

NVIDIA stock +15% YTD amid growing AI investment commitments:

Google Finance: NVIDIA stock.

• Last week alone, NVIDIA agreed to invest up to $3.2B in Corning and secured rights to invest up to $2.1B in IREN.

• $97B in free cash flow was generated by NVIDIA in the last fiscal year.

• NVIDIA has signed 7 multibillion-dollar investment deals with public companies in 2026.

• Also participated in ~24 funding rounds this year, including several earlier-stage deals, per FactSet.

• The $30B OpenAI investment is NVIDIA’s largest bet of the year.

8. Anthropic details new Claude safety training after Opus 4 blackmail incidents

Claude’s misalignment was reduced through training on constitutional documents, high-quality chats, and diverse environments, Anthropic said:

Anthropic.

• Older Claude models, including Opus 4, showed agentic misalignment such as blackmailing engineers in tests, Anthropic said.

• Teaching Claude why harmful actions are wrong worked better than training on examples alone, Anthropic found.

• Principle-based safety training generalized better out-of-distribution than narrow evaluation-style training, Anthropic said.

• Agentic misalignment was among the first major alignment failures identified in its models and required new mitigation processes, the company said.

9. Tech unemployment +3.8% in Apr. as AI uncertainty drives 13K job cuts

WSJ.

• Meta, Nike, and Snap are among companies cutting staff amid AI investments and streamlining efforts.

• Inflation and economic uncertainty tied to the Iran war are also causing some tech leaders to slow or pause IT hiring.

10. U.S. data breaches hit record in 2025 as AI-powered cybercrime rises

Bloomberg, Identity Theft Resource Center.

• 40% of the 5K data breaches serviced by Experian in 2025 were AI-powered.

U.S. identity theft cases rebounded to near-pandemic levels

Bloomberg, FTC.

Financial services, healthcare, and professional services were among the industries hardest hit by data breaches in 2025

Bloomberg, Identity Theft Resource Center.

Victim notices fell to an 11-year low even as data compromises surged

Bloomberg, Identity Theft Resource Center.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• DeepSeek seeks up to ~$7.3B at $50B+ in 1st funding round: report.

• Anthropic signs $1.8B cloud deal with Akamai: sources.

• OpenAI facilitated $6.6B employee share sale in Oct. 2025: sources.

• xAI hire Devendra Chaplot exits after ~1 month: sources.

• ByteDance plans $30B+ 2026 capex amid AI boom, rising chip costs: report.

Tech

• Intel, Sandisk lead $3.8T chip-stock surge fueled by AI demand.

• Broadcom discusses ~$35B AI chip financing with Apollo, Blackstone: report.

• OnlyFans sells 16% stake in deal valuing company at ~$3.15B.

• SpaceMob fuels 6,000% rally in SpaceX-rival AST over 22 months.

• Quantinuum files for U.S. IPO that could raise $1.5B+.

• Paddy Galloway, Mario Joos lead rise of “YouTube whisperers”.

Tech & Law

• Musk v. Altman trial spotlights Greg Brockman’s journal as key evidence.

• VPNs used to bypass age-verification rules are a loophole, EU warns.

Biotech

• GLP-1 drug enters Phase 2 trial for progressive multiple sclerosis.

• Voyager pushes IV gene therapy for Alzheimer’s.

Business

• Trump Media reports $405.9M Q1 net loss on $871K in sales.

• Brent tops $103 after Trump rejects Iran peace proposal response.

• Iran businesses strain under record internet shutdown as losses top $2.6B.

Crypto

• Onchain markets, AI-driven finance may get new rules, Atkins signals.

• CME to launch trading tied to bitcoin volatility, not just price.

• Payward seeks OCC charter to expand Kraken into federal crypto bank.

U.S. politics

• Neal plans broad tax agenda if House control changes.

World

• Iran peace offer “totally unacceptable”: Trump.

• Hantavirus infects 2 cruise passengers after evacuation.

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All times are ET.

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 8, 2026

1. Anthropic said to weigh up to $50B raise at ~$900B pre-money as ARR nears $45B

Anthropic could surpass OpenAI in valuation if the round closes:

FT.

• Dragoneer, General Catalyst, and Lightspeed are among investors said to be interested.

• Anthropic CFO Krishna Rao has reportedly been speaking with investors, though terms have not been finalized.

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3. OpenAI rolls out GPT-5.5-Cyber, its Mythos rival, to vetted cybersecurity firms

GPT-5.5-Cyber has outperformed GPT-5.5 on CyberGym but trails Mythos Preview, which scored 83.1%:

OpenAI.

• Designed to help defenders write bug proofs of concept and simulate security threats.

• Approved Trusted Access for Cyber members will get a less restricted GPT-5.5 model for bug hunting, malware analysis, and attack reverse engineering.

• GPT-5.5 with TAC also debuted for OpenAI’s Trusted Access for Cyber members to map attack surfaces and review software patches for flaws.

Meanwhile, White House unease over Mythos has reportedly sparked fears of a shift away from its hands-off AI policy

Representational image generated using ChatGPT.

• Vice President JD Vance reportedly expressed alarm in an Apr. call with tech CEOs over Mythos and other advanced AI models.

• “We all need to work together on this,” Vance reportedly told CEOs including Sam Altman, Dario Amodei, Elon Musk, and Sundar Pichai.

• An executive order to create formal oversight for frontier AI models is reportedly under consideration.

• Washington and Beijing are also said to be weighing official AI-risk talks ahead of next week’s Trump-Xi summit in China.

• Mozilla said Mythos Preview and other AI models helped identify and fix 423 Firefox security bugs in Apr., vs. 31 a year earlier.

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5. Kalshi raises $1B at $22B valuation as trading volume hits $178B

• Coatue Management led the round.

• Other investors include Sequoia Capital, a16z, IVP, Paradigm, Morgan Stanley, and ARK Invest.

• Funding will support expansion into corporate services, including deeper trading-firm integrations and more block trading.

6. Ramp said to raise $750M at $40B+ pre-money valuation co-led by Iconiq, GIC

• Ramp crossed $1B in annualized revenue in Sep.

• $2.3B has been raised to date.

7. ChatGPT adds Trusted Contact safety feature for mental health, safety concerns

OpenAI.

• Users can designate friends, family members, or caregivers as a “Trusted Contact.”

• The contact may be notified if OpenAI detects discussions of self-harm or suicide.

• Notifications won’t include chat details or transcripts.

• Opt-in and available to all adult ChatGPT users.

8. Anthropic unveils method to convert AI activations into readable language

Natural Language Autoencoders (NLAs) convert model activations — the numerical signals behind AI reasoning — into natural-language explanations:

Anthropic.

• Each autoencoder combines an activation verbalizer and reconstructor trained together to preserve accuracy.

• Anthropic said NLAs can still produce inaccurate or hallucinated explanations.

9. Big Tech free cash flow seen falling to ~$4B in Q3, lowest since 2014 on AI spending

Amazon, Alphabet, Microsoft, and Meta are targeting a combined $725B in AI spending in 2026, pressuring cash generation:

FT, Visible Alpha.

Big Tech added $65B to 2026 capex plans during Mar. earnings

FT.

Big Tech companies have added debt since the AI boom began

FT.

• Alphabet bought back no stock in Q1 for the first time since 2015, instead issuing $48B in debt and foreign-currency bonds.

• Meta issued $55B in debt over the past six months while pausing buybacks.

• Amazon is expected to burn ~$10B in cash in 2026, per Visible Alpha estimates.

10. Google launches Whoop-like $100 Fitbit Air with Gemini-powered health features

Google.

• The screenless wearable weighs 12 grams with the band.

• Auto-detects activities including biking, running, walking, rowing, and elliptical workouts.

• ~40 activities can also be tracked manually in the app, including aerobics, circuit training, dancing, and yoga.

• May 26 availability.

• Fitbit Premium rebranded as Google Health Premium, offering Gemini-powered coaching for $79.99/year.

11. Half of U.S. adults under 50 get health info from influencers, podcasts: Pew

Pew Research Center.

86% of health influencers are on Instagram and 62% on TikTok

Pew Research Center.

41% of health and wellness influencers say they have a healthcare background

Pew Research Center.

64% of these influencers are women

Pew Research Center.

12. Hantavirus pandemic odds for 2026 rise to 10% on prediction markets

Polymarket.

• 140+ people aboard hantavirus-hit cruise ship are set for evacuations in Spain.

13. Interesting videos, posts, and memes

14. Other headlines

AI

• OpenAI, Broadcom discuss ~$18B custom AI chip production deal: sources.

• OpenAI launches 3 voice API models including GPT-Realtime-2.

• CoreWeave Q1 revenue +112% YoY to $2.1B, $99.4B revenue backlog.

• NVIDIA, IREN partner on up to 5GW of AI infrastructure.

• Core Automation, founded in Mar., seeks $300M-$500M at $4B: report.

• Kunlunxin, Baidu AI chip unit, plans dual Shanghai, Hong Kong IPO.

Tech

• NVIDIA chips smuggled to Alibaba via Thailand in U.S. probe: report.

• Airbnb Q1 revenue +18% YoY, Nights and Seats booked +9% to 156.2M.

• Lyft Q1 revenue +14% YoY to $1.7B, gross bookings +19%, rides +8.5%.

• Cloudflare plans to cut 1.1K+ jobs in AI shift.

• AirPods with cameras reach advanced testing stage: sources.

• Quantum Motion raises $160M Series C as Kembara makes 1st investment.

• Nintendo raises Switch 2 price to $500, gives weak 2026 outlook.

Tech & Law

• Elon, X face French criminal probe over algorithms, deepfakes.

• Apple, Meta warn Canadian bill could weaken encryption protections.

Biotech

• Vutrisiran shows consistent ATTR-CM benefits in new analyses.

• Beacon Biosignals turns sleep data into brain diagnostics.

• ParcelBio, programmable mRNA startup, raises $13M.

• Allen Law outlines “Longevity Century” vision for extending healthspan.

• GlycanAge conference pushes inflammaging into clinical care.

• Elevant explores NMN support for menopause-related energy decline.

Business

• U.S. oil export curbs unnecessary despite Iran war surge: Trump.

Crypto

• Payward, Kraken parent, to buy Reap for $600M at $20B valuation.

• Block Q1 revenue +5% YoY to $6.1B, raises 2026 forecast after job cuts.

• Coinbase Q1 revenue -31% YoY to $1.4B, vs. 1.5B est.

U.S. politics

• Trump’s 10% global tariffs unlawful, U.S. trade court rules.

World

• U.S., Iran clash near Hormuz as response to proposed deal awaited.

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Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

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1. SpaceX signs Colossus 1 compute deal with Anthropic, discusses orbital AI capacity

Representational image generated using ChatGPT.

• 300MW+ of new capacity and 220K+ NVIDIA GPUs to be available to Anthropic “within the month,” per the deal,

• Anthropic also expressed interest in developing multiple gigawatts of orbital AI compute with SpaceX.

• Claude Code peak-hour limits removed for Pro and Max users.

• Higher API rate limits introduced for Opus models.

Elon Musk also announced dissolving xAI into “SpaceXAI”

X: Elon Musk.

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3. U.S., China said to weigh recurring AI security talks led by Bessent

Representational image generated using ChatGPT.

• AI discussions for the May 14-15 Trump-Xi summit in Beijing are reportedly under consideration.

• China has yet to designate a counterpart.

• Vice Finance Minister Liao Min has been involved in talks with Washington on establishing the dialogue.

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5. Murati says Altman lied on AI safety as Zilis defends OpenAI board role

Representational image generated using ChatGPT.

• Sam Altman was “not always” honest with her, undermined her as CTO, and pitted executives against each other, Murati said.

• Altman made her work more difficult during her OpenAI tenure, Murati said.

• Murati also cited “misalignment” between Jason Kwon and Altman over a GPT model.

• Shivon Zilis said she left OpenAI’s board in 2023 after Musk started xAI.

• “When the father of your babies starts a competitive effort and starts recruiting from OpenAI, there is nothing to be done,” Zilis said.

• Elon Musk proposed making OpenAI a Tesla subsidiary, but Altman, Brockman, and Sutskever declined, she said.

6. Moonshot raises ~$2B at $20B+ valuation as ARR tops $200M

• Meituan’s venture arm Long-Z Investments led the round.

• Kimi subscriptions and AI model services drove ARR growth.

7. Arm Q4 revenue +20% to $1.5B, AGI CPU demand seen driving 2x+ sales to $2B in 2027-2028

• $1.3B Q1 FY27 revenue projected, vs. $1.2B est.

• Demand for Arm’s first data center chip has “exceeded expectations,” CEO Rene Haas said.

• $671M royalty revenue, vs. $700M est.

• $819M licensing revenue, vs. $775M est.

• Arm warned of smartphone weakness but said AI data center growth would more than offset the slowdown.

8. Snap Q1 revenue +12% YoY to $1.5B, exits $400M Perplexity deal

Snap stock -10% in Thu. pre-market trading:

MarketWatch: Snap stock.

• 483M global active users, vs. 475.6M est.

• $3.17 ARPU, vs. $3.20 est.

• “Geopolitical headwinds in the Middle East” hurt ad sales, Snap said.

• War-related costs may have totaled $20M-$25M in Mar. alone.

• Q2 revenue projected at $1.52B-$1.55B, roughly in line with estimates.

9. Global tablet shipments +0.1% YoY to 37M units in Q1

Omdia.

10. Interesting videos, posts, and memes

11. Other headlines

AI

• OpenAI, Microsoft, AMD, NVIDIA back MRC protocol to scale AI compute.

• Google Chrome quietly installs ~4GB Gemini Nano model on desktops.

• NVIDIA to invest up to $3.2B in Corning optical fiber deal for AI.

• Scale AI wins $500M Pentagon contract after prior $100M deal.

• Corgi, AI insurance startup, raises $160M Series B at $1.3B valuation.

• Anthropic adds “dreaming” memory updates to Claude Managed Agents.

• Google DeepMind takes stake in Eve Online maker to train AI tech.

Tech

• Uber Q1 revenue +14% YoY to $13.2B, gross bookings +25%.

• DoorDash Q1 revenue +33% YoY to $4.0B, vs. $4.1B est.

Tech & Law

• Apple loses Supreme Court bid to block Epic Games App Store order.

• Meta seeks to overturn social media addiction verdict, cites Section 230.

Biotech

• Alector halts Alzheimer’s trial after futility readout.

Business

• China asks banks to halt new loans to U.S.-sanctioned refiners.

Crypto

• Polymarket U.S. comeback faces delays, executive turnover.

• CLARITY Act targeted for July 4 passage: crypto adviser Patrick Witt.

• Morgan Stanley rolls out low-cost crypto trading on E*Trade.

U.S. politics

• California governor candidates clash over immigration, homelessness.

World

• Iran-flagged ship disabled by U.S. after trying to break blockade.

• U.S., Iran weigh deal to reopen Hormuz, ease blockade.

• Hantavirus outbreak on cruise ship prompts U.S. passenger monitoring.

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Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

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All times are ET.

1. Anthropic said to plan $200B spend on Google cloud, chips over 5 years

Commitment represents ~43% of Alphabet’s disclosed “revenue backlog”:

The Information.

• Anthropic and OpenAI contracts now make up 50%+ of ~$2T in cloud backlogs.

• Apr.: Google committed to supplying 5GW of server capacity to Anthropic starting 2027.

Amazon, Google, and Microsoft have invested ~$60B in Anthropic and OpenAI, with plans for another $85B

The Information.

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3. Google, Microsoft, xAI to give U.S. agency early access to AI models for evaluation

Representational image generated using ChatGPT.

• The Commerce Department’s CAISI will conduct pre-release reviews.

• OpenAI and Anthropic have updated their existing agreements with the agency.

• The program aims to assess capabilities and improve security before public release.

• CAISI has completed 40+ model evaluations since 2024.

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5. DeepSeek said to seek funding at ~$45B valuation, Chinese state-backed “Big Fund” in talks to lead

Founder Liang Wenfeng controls ~89.5% via personal and affiliated holdings:

FT.

• Tencent is also reportedly in talks for a stake.

• Apr.: Valuation was $20B when fundraising talks began.

• State-backed “Big Fund” raised $47B in its third round in 2024.

6. Google said to test OpenClaw-style AI agent “Remy” in Gemini app

Representational image generated using ChatGPT.

• Remy runs in a staff-only Gemini version and integrates with multiple Google services.

• It “can take actions on your behalf,” per a reported description.

• Google may unveil it at I/O in Jun.

• Separately, Google has shut down Project Mariner, its Chrome AI agent unveiled at I/O 2025.

7. Subquadratic claims 12M-token context with SubQ after $29M seed

SubQ 1M-Preview shows competitive early benchmarks, per Subquadratic:

Subquadratic.

• Claims 50x faster and 50x cheaper performance at 1M tokens vs. frontier models.

• Most current LLMs support up to ~1M token context.

• Available in private preview through SubQ API and SubQ Code.

• Investors include former SoftBank partner Javier Villamizar and Tinder co-founder Justin Mateen.

8. Meta said to build OpenClaw-style “Hatch” AI agent, explore Instagram shopping

Representational image generated using ChatGPT.

• End-Jun.: internal testing is targeted.

• The agent would perform a range of tasks for people.

• Meta built “sandboxed” web environments to test on simulated sites like DoorDash, Etsy, Reddit, Yelp, and Microsoft Outlook.

• Hatch has used Claude Opus 4.6 and Sonnet 4.6, with Muse Spark planned at launch.

• Before Q4, a separate Instagram shopping agent is expected.

9. Anthropic unveils 10 AI agents for finance workflows

Anthropic.

• Agents can draft pitch decks, review financials, and escalate compliance cases.

• Targeted at banking, insurance, asset management, and fintech professionals.

• Available as plugins in Claude Copilot/Code or via Claude Managed Agent templates.

• Claude adds deeper integration with Excel, PowerPoint, and Outlook, plus data from partners like Dun & Bradstreet and Moody’s.

• 300K+ business customers already use Anthropic’s tools.

10. Alphabet said to discuss AI access deals with Blackstone, KKR, EQT after OpenAI, Anthropic JVs

• Google’s deals wouldn’t create a new consulting business, unlike the OpenAI and Anthropic initiatives.

• PE firms would give portfolio companies direct access to Google’s models.

11. ElevenLabs ups Series D to $550M+, adds BlackRock, NVIDIA, Jamie Foxx as investors

The Series D was originally announced in Feb. at $500M and $11B valuation:

• 30+ celebrities have invested, including Jamie Foxx, Eva Longoria, and Hwang Dong-hyuk.

• Completed a $100M tender offer, its second in under a year.

• ARR reached $500M in the first four months of 2026, per ElevenLabs.

12. Coinbase to cut ~700 jobs, 14% of workforce, citing AI shift

Shares closed -3% Tue.:

Google Finance: Coinbase stock.

• AI tools enable smaller teams to ship code and automate tasks, CEO Brian Armstrong said.

• $50M-$60M restructuring charges expected.

Coinbase stock has underperformed Bullish and the S&P 500 in 2026

Reuters.

13. Samsung hits $1T valuation after 4x+ stock surge, joins TSMC

Bloomberg.

14. U.S. new-home sales +7.4% MoM to 682K in Mar., fastest in 2026

Median price -6.2% to $387K, the lowest since Jul. 2021:

Bloomberg, Census Bureau, Department of Housing and Urban Development.

15. Interesting videos, posts, and memes

16. Other headlines

AI

• OpenAI to spend $50B on compute in 2026, up from $30M in 2017: Brockman.

• Apple to let iOS 27 users choose third-party AI models for tasks: sources.

• ChatGPT gets GPT-5.5 Instant as default, cuts hallucinations 52.5%.

• Gemma 4 adds multi-token prediction drafters.

• Brockman says Musk “does not know AI” in recounting 2017 talks.

• Microsoft survey finds 65% fear falling behind on AI, only 13% rewarded.

Tech

• Micron +11% to $700B+ market cap on SSD launch, Sandisk +12%.

• China targets 70%+ domestic wafers by 2026, pushes local 12” use.

• Blue Origin outlines new stock plan to quell unrest: sources.

• AMD Q1 revenue +38% YoY to $10.3B, data center sales +57%.

• Intel +13% on report of Apple talks for U.S. chip production.

• Date Drop, Stanford matchmaking experiment, pairs 5K singles.

Tech & Law

• Apple agrees to $250M settlement over “personalized” Siri claims.

Biotech

• Niagen launches telehealth NAD+ injection platform.

• Novo Nordisk +6% on strong demand for Wegovy pill.

• FDA blocked studies showing Covid, shingles vaccines were safe.

• J. Craig Venter, genome pioneer, dies at 79.

• Glycans emerge as key markers of aging, disease risk.

• Vitalist Bay 2026 set to spotlight longevity’s next phase.

• Longevity.Technology partners AND Capital on AI-driven deal flow.

Business

• Rivian developing variants of more affordable R2 EVs.

Crypto

• a16z crypto raises $2.2B for Fund V, below $4.5B prior fund.

• Bullish to acquire Equiniti for $4.2B in deal set to close Jan. 2027.

U.S. politics

• Griffin doubles down on Miami amid Mamdani tax feud.

• Ramaswamy, Brown win primaries in Ohio.

• NYTimes sued by EEOC over diversity, hiring.

World

• Iran deal push as Trump pauses ship-guidance plan, keeps blockade.

• China still supplies drone factories in Iran, Russia despite U.S. sanctions.

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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 5, 2026

1. White House said to consider vetting AI models before release

Representational image generated using ChatGPT.

• The Trump admin is reportedly discussing an EO to create an AI working group.

• The group would bring together tech executives and officials to shape oversight procedures.

• UK-style review process could be adopted.

• Last week: officials outlined plans to Anthropic, Google, and OpenAI executives.

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3. Brockman says OpenAI stake worth ~$30B as Elon texts threats before trial

• Elon Musk’s lawyer asked Brockman why he hadn’t donated most of his earnings to OpenAI’s nonprofit.

• Attorney Steven Molo pressed Brockman on a 2017 journal entry asking what would take him to $1B.

• Brockman disputed Molo’s claim, saying he was weighing options as OpenAI explored a for-profit shift.

• Musk texted Brockman 2 days before filing suit.

• Stuart Russell, Musk’s sole AI expert witness, warned of risks but was barred from discussing existential threats.

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5. OpenAI fast-tracks AI phone, targets H1 2027 mass production: Kuo

Representational image generated using ChatGPT.

• 2 NPUs and a custom MediaTek Dimensity 9600 SoC will power the phone, analyst Ming-Chi Kuo said.

• ~30M could be the combined 2027-2028 shipments.

Separately, Sam Altman said to have discussed spinning out OpenAI’s robotics, hardware units in late 2025, but the plan was rejected

Representational image generated using ChatGPT.

• The company concluded the units should remain consolidated on OpenAI’s balance sheet.

• OpenAI is pivoting toward a “superapp” to attract coders and enterprise users.

6. Sierra, Bret Taylor’s AI startup, raises $950M at $15.8B valuation, led by Tiger, GV

• Benchmark, Sequoia Capital, Greenoaks Capital, and other existing investors participated.

• $150M ARR reached in 8 quarters, per Sierra.

• $400B spent annually on customer service, per Taylor.

• Customers include Prudential Financial, Cigna, Blue Cross Blue Shield, and Rocket Mortgage.

7. OpenAI, Anthropic form AI joint ventures with PE firms

• OpenAI has raised $4B+ for The Deployment Company at a $10B valuation.

• OpenAI will reportedly majority-own and control the firm.

• Backers include TPG, Brookfield Asset Management, Advent International, and Bain Capital.

• Dragoneer, SoftBank, and others also participated.

• Anthropic has partnered with Blackstone, Hellman & Friedman, and Goldman Sachs on a similar ~$1.5B JV.

• The ventures aim to integrate AI tools into portfolio companies and clients.

• OpenAI’s JV partners have access to 2K+ portfolio companies and clients.

8. Palantir Q1 revenue +85% YoY to $1.6B, vs. $1.5B est., net income +303%

• +84% YoY in U.S. government revenue to $687M.

• +133% in U.S. commercial revenue to $595M.

9. iPhone 17 tops global smartphone sales in Q1 2026 as top 10 take 25% share

Counterpoint.

10. Interesting videos, posts, and memes

11. Other headlines

AI

• Anthropic co-founder warns of 60%+ chance AI builds successors by 2029.

• Katie Haun, crypto investor, raises $1B for fintech, AI funds.

Tech

• Blackstone data center vehicle seeks up to $1.75B IPO targeting new builds.

• Apple explores Intel talks, Samsung Texas plant for U.S. chips: report.

• Panthalassa raises $140M at $1B valuation for wave-powered data centers.

• Pinterest Q1 revenue +18% YoY to $1B, MAUs +11% to 631M.

Tech & Law

• Elon to pay $1.5M to settle SEC claims over undisclosed Twitter stake.

• Meta faces $3.7B public nuisance claim in New Mexico child safety trial.

Biotech

• Buntanetap shows cognitive gains in early Alzheimer’s subgroup.

• AI reshapes pharma with gains in operations, not drug discovery.

Business

• Ackman says succession set, discusses UMG bid.

• Michael Burry exits GameStop position after eBay bid concerns.

Crypto

• Prediction-market ETFs delayed as SEC seeks more information.

• WLF countersues Justin Sun over defamation, contract claims.

• Circle ~+20% as CLARITY Act compromise preserves stablecoin rewards.

U.S. politics

• Abortion pill access restored by Supreme Court via telehealth, mail.

• Secret Service shoots gunman near White House after he opens fire.

World

• U.S., Iran exchange fire in Gulf, shaking fragile truce.

• Hong Kong’s Jimmy Lai to be raised by Trump in Xi summit.

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All times are ET.

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 1, 2026

1. GameStop ($12B) makes unsolicited $56B offer to buy eBay

Stock +9% to $113.73 in the pre-market (offer at $125):

MarketWatch.

• 50% cash, 50% stock.

• TD Bank offering $20B in debt financing.

• GameStop built ~5% stake in eBay.

• CEO: preparing proxy fight if eBay isn't receptive.

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3. Grok 4.3 a generation behind OpenAI, Anthropic, Gemini: Artificial Analysis

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  • Improvement on cost-per-intelligence vs. Grok 4.20.

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5. Cerebras seeking as much as $4B in IPO, targeting $40B valuation

• March: $2B was reportedly being sought after.

• $10B+ in reported interest.

6. Meta acquires Assured Robot Intelligence, startup developing AI models for robots

• Team to work closely with Meta Robotics Studio, Meta's humanoid team launched in 2025.

• Relatedly, Chinese Linkerbot is targeting a $6B valuation in its next round.

7. Update: Anthropic nears $1.5B JV with Wall Street firms

• $300M each: Anthropic, Blackstone, and Hellman & Friedman.

• Goldman Sachs ($150M) and General Atlantic also involved.

• Goal: consulting arm for Anthropic, helping PE businesses incorporate Claude.

8. DeepSeek V4 Pro 8 months behind frontier U.S. models: NIST

NIST.

9. Interesting videos, posts, and memes

10. Other headlines

AI

• Apple challenged over curbs on AI vibe coding apps.

• Anthropic in early talks to buy AI chips from UK startup Fractile.

• OpenAI CFO Friar: WSJ profile.

• Oscars: AI actors and writers ineligible for Academy Awards.

• AWS CEO: AI is reshaping coding jobs and intern hiring at Amazon.

• Coatue launches Next Frontier to buy land for AI data centers.

Tech

• Founders Fund: Thiel firm raises record $6B in largest-ever haul.

• Mac mini now starts at $799 after Apple raises base price.

• Mac Studio, Mac mini supply will stay constrained for months.

• John Ternus's Apple drops cash-neutral plan: more AI, fewer buybacks.

Tech & Law

• China: court rules firms can't lay off workers on AI grounds.

Biotech

• FDA's real-time clinical trial push could transform medicine: Longevity Technology.

Business

• Berkshire: Greg Abel rules out break-up at first meeting as CEO.

Crypto

• Trump family crypto project sold quietly.

U.S. politics

• Project Freedom: U.S. begins escorting ships out of Hormuz.

• Giuliani hospitalized in critical condition at 81.

World

• NATO chief: U.S. disappointed in Europe over Iran response.

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Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - May 1, 2026

1. Apple Q2 FY26 revenue +17% YoY to $111.2B vs. $108.9B est., net income +19%

• +22% YoY in iPhone sales to $57.0B vs. $57.2B est.

  • Apple blamed supply constraints for missing iPhone sales estimates.

• +6% in Mac sales to $8.4B.

• +8% in iPad sales to $6.9B.

• +5% in Wearables, Home, and Accessories sales to $7.9B.

• +16.3% in Services revenue to $31.0B.

• Greater China sales +28% YoY to $20.5B vs. $18.9B est.

iPhone accounted for 51% of revenue vs. 49% a year earlier

• Q3 FY26 sales seen +14%-17% vs. +9.1% est.

• Apple warned memory-chip costs will rise and Mac shortages may persist for “several months.”

• Incoming CEO John Ternus said he will maintain Tim Cook’s “thoughtfulness, deliberateness and discipline.”

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3. Elon says xAI “partly” distilled OpenAI models in Altman trial

• Elon Musk said under oath that xAI partly used OpenAI models in training.

• OpenAI has sought to prevent rivals, including China’s DeepSeek, from distilling its models.

• U.S. AI labs often use each other’s models for benchmarking and safety testing.

• The judge told Musk’s lawyer to avoid existential AI arguments and focus on OpenAI’s founding.

• OpenAI lawyers said Shivon Zilis acted as a covert liaison between Musk and the company.

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5. U.S. GDP +2% in Q1 as AI investment drives growth, consumer spending softens

WSJ, Commerce Department.

• +2.2% est. by economists.

Business investment +10.4% annualized, fastest in ~3 years, driven by AI

WSJ, Commerce Department.

• +1.6% in consumer spending vs. +1.9% in Q4 2025.

• PCE price index +4.5% vs. +2.9% prior quarter.

• +9.3% in federal spending vs. -16.6% in Q4 after shutdown.

6. Prediction markets trading banned for senators amid insider concerns

Kalshi and Polymarket praised the Senate’s action and voiced support:

X: Polymarket.

• Effective immediately: Senate unanimously passed the rule barring members from trading on prediction markets.

• Concerns center on insider trading tied to event contracts like wars and elections.

• Apr. 22: Kalshi said it suspended and fined a U.S. Senate candidate and two House candidates for political insider trading.

• Apr. 23: U.S. Special Forces soldier arrested for using classified info to bet on Polymarket.

7. OpenAI’s GPT-5.5 matches Mythos Preview in cyber tests, solves multi-step attack simulation

GPT-5.5 pass rate 71.4% vs. 68.6% for Mythos Preview on Expert-level tasks assigned by AI Security Institute:

AI Security Institute.

GPT-5.5 completed TLO end-to-end in 2/10 attempts vs. 3/10 for Mythos Preview

AI Security Institute.

• The Last Ones (TLO) is a 32-step corporate network attack simulation built with SpecterOps.

• GPT-5.5 could not solve Cooling Tower; no model has yet.

8. Anthropic launches Opus 4.7-powered Claude Security beta for code scanning

Claude Security scans code for vulnerabilities and generates fixes using Opus 4.7:

Claude.

• Available to Claude Enterprise customers.

• Feb.: debuted as a research preview for select testers.

• Launch comes as White House scrutiny over Mythos access deepens.

• Opus 4.7 scored 48.6% on AI Security Institute expert tasks vs. 68.6% for Mythos Preview.

• Separately, the NSA is testing Anthropic’s Mythos to find software vulnerabilities and has been impressed by its speed and efficiency.

9. Eli Lilly Q1 revenue +56% YoY on Mounjaro, Zepbound volume growth, pricing pressure

• +43% in U.S. revenue to $12.1B, driven by a 49% increase in volume, partially offset by a 7% decrease due to lower realized prices.

• +81% in outside the U.S. revenue to $7.7B.

10. 1X opens 58K-sq-ft California factory, targets 100K humanoid robots by 2027

Bloomberg, 1X Technologies.

• Factory capacity is 10K robots per year.

• Vertically integrated manufacturing, with motors, electronics, and batteries built in-house.

11. North Korea-linked hackers drive 76% of 2026 YTD crypto losses from 2 hacks

TRM Labs.

• The Drift ($285M) and KelpDAO ($292M) hacks made up just 3% of incidents but 76% of stolen value in 2026.

12. Interesting videos, posts, and memes

13. Other headlines

AI

• White House AI memo targets Anthropic-Pentagon dispute.

• Zuckerberg blames war for slower sales, AI costs for layoffs.

• Meta HR chief warns of more layoffs as Zuckerberg downplays AI role.

• OpenAI CFO sees “vertical wall of demand,” needs more compute.

Tech

• Google wraps best month since 2004 as Alphabet stock +34% in Apr.

• Intel stock +114% in Apr., best month ever, market cap tops $470B.

• Meta sells $25B bonds after $96B orders.

• Starcloud eyes $2.2B valuation as orbital data center interest grows: report.

• Reddit Q1 revenue +69% YoY to $663M, DAUq +17% to 126.8M.

Biotech

• Antag’s obesity drug targets fat storage pathways, not appetite.

Business

• Elon’s Tesla pay hits $158B in stock for 2025, realized $0.

Crypto

• MARA to acquire Long Ridge for $1.5B for AI data center expansion.

U.S. politics

• Congress challenge as Trump defies Iran war authorization timeline.

• Homeland funding signed, ending record shutdown.

• Warsh faces risk of dissent in first Fed vote as chair.

World

• Iran faces sustained pressure as Trump vows to maintain naval blockade.

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Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

Bay Area Times Daily - Apr. 30, 2026

1. Anthropic said to weigh funding round at $900B+ valuation after $800B+ talks

• Discussions are at an early stage.

• $40B-$50B round size is reportedly under consideration.

• $1T+ valuation now on secondary markets.

• May: board meeting expected to advance investment talks.

• Google and Amazon recently made investment commitments at its previous $350B pre-money valuation.

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Run deep web research on prospects. Update your pipeline as you work. Find customers and draft outreach emails. Powered by Universal Context, Attio's intelligence layer, Attio searches, updates, and creates across your data to accelerate your workflow.

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3. Alphabet Q1 revenue +22% YoY to $109.9B vs. $107.2B est., net income +81%

• +30% YoY in operating income to $39.7B, with margin +2pp to 36.1%.

• Unrealized gains on nonmarketable equity securities responsible for gap between net and operating income.

• Paid subscriptions hit 350M, up 25M QoQ, led by YouTube and Google One.

• +40% QoQ in Gemini Enterprise paid MAUs.

• +10.7% YoY in YouTube ad revenue to $9.9B.

• +15% YoY in Google ad revenue to $77.3B.

Google Cloud revenue was +63% YoY to $20.0B vs. $18.1B est.

This was the fastest Cloud growth since Alphabet began segment disclosure in 2020

Reuters.

• $180B-$190B in 2026 CAPEX guidance, up from the earlier $175B-$185B.

• CAPEX to “significantly increase” in 2027, Alphabet said.

• Separately, Google told staff it “proudly” works with the U.S. military and will continue, despite employee opposition to DoW contracts.

Big Tech CAPEX hit a record $130B in Q1 and is projected to reach $725B in 2026, +77% from 2025

FT.

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5. Meta Q1 revenue +33% YoY to $56.3B vs. $55.5B est., net income +61% to $26.8B

• +33% YoY in ad revenue to $55.0B.

• Q2 revenue guided at $58B-$61B vs. $59.5B est.

• Youth-safety cases “may ultimately result in a material loss,” Meta said.

Family daily active people -20M QoQ to 3.56B vs. 3.62B est., citing Iran disruptions and Russia WhatsApp limits

Meta.

2026 CAPEX raised to $125B-$145B from $115B-$135B

Bloomberg.

• Shares -6% after hours on higher AI spending and user decline.

Reality Labs (Meta’s VR division) posted a $4B+ loss on $402M revenue, with cumulative losses exceeding $80B

CNBC.

6. Microsoft Cloud drives Q3 FY26 revenue +18% YoY to $82.9B, operating income +20%

• +23% YoY in net income to $31.8B.

• -$14M impact from losses tied to OpenAI investments.

• +123% in AI business annual revenue run rate to $37B.

• 20M+ paid Copilot users worldwide.

• Intelligent Cloud revenue +30% YoY to $34.7B, with Azure and other cloud services +40%.

• +12% in LinkedIn revenue.

• More Personal Computing -1% YoY to $13.2B, with Windows OEM & Devices -2% and Xbox content & services -5%.

Q3 CAPEX -15% QoQ to $31.9B on data center and hardware timing

GeekWire.

• 2026 CAPEX projected at $190B vs. $154.6B est., +61% from 2025.

7. Amazon Q1 revenue +17% YoY to $181.5B vs. $177.1B est., net income +77%

• +30% YoY in operating income to $23.9B.

• Anthropic gains summed $16.8B.

• +24% YoY in ad revenue to $17.2B vs. $16.9B est.

• +15% YoY in subscription services revenue to $13.4B.

• CAPEX +77% YoY to $44.2B, driven by AI infrastructure.

• $194B-$199B in Q2 revenue guided (+16%-19% YoY).

AWS revenue +28% YoY to $37.6B vs. $36.6B est., the fastest growth in 15 quarters

8. Fed holds rates at 3.5%-3.75% as 4 dissent

WSJ, Federal Reserve.

• Including 3 who objected to dovish language in their post-meeting statement suggesting the next rate move would be a cut.

• Powell plans to remain on the Board of Governors, he said in his final press conference as Fed chair.

• DOJ won’t revive the probe unless the Fed’s watchdog recommends it, he said.

• The D.C. U.S. attorney could reopen the probe if warranted, he noted.

The 8-4 vote marked the 1st time since 1992 that 4 officials dissented

WSJ, Federal Reserve Bank of St. Louis.

9. SpaceX IPO filing to give Elon full control via super-voting shares

Representational image generated using ChatGPT.

• Elon Musk will control Class B super-voting shares post-IPO, per the filing, effectively giving him sole power over his removal and board control.

• The provision sits on top of a dual-class ​framework SpaceX plans to adopt at its IPO.

• Starlink subscribers rose from 2.3M to 8.9M from 2023-2025, revenue grew to $11.4B, while ARPU -18%, per SpaceX’s draft IPO filing.

10. Interesting videos, posts, and memes

11. Other headlines

AI

• Cursor, Airbnb probed by House panels over use of Chinese AI models.

• OpenAI signs 10GW US AI compute deals, hitting 2029 goal early.

• Anthropic’s Mythos expansion faces White House security concerns: report.

• SoftBank plans Roze AI firm targeting $100B valuation, U.S. IPO: sources.

• Google’s Gemini app adds file generation across PDF, Word, Excel.

• Apple plans Siri camera mode by integrating Visual Intelligence: report.

• Rogo raises $160M Series D at $2B valuation, led by Kleiner Perkins.

Tech

• Samsung Q1 revenue +69% YoY to $90.2B, operating profit +756%.

• eBay Q1 revenue +19% YoY to $3.09B, GMV +18% to $22.2B.

Tech & Law

• Elon says he was “fool” to fund OpenAI, accuses Altman of deception.

• Elon vs. Altman: Elon sought control, withheld funding, emails show.

Biotech

• Super Age debuts world’s first longevity fitness games.

• Anthropic launches BioMysteryBench to test Claude in bioinformatics.

• FDA pilots AI, cloud data feed to speed drug approvals.

• Axoft tests brain implant in rare U.S.-China neurotech cooperation.

• Infinite Epigenetics acquires Tally Health.

Business

• Pershing Square USA -18% in trading debut.

• Apprentice reboot eyed by Amazon with Don Jr. as potential host.

Crypto

• Meta rolls out USDC payouts on Solana, Polygon for select creators.

U.S. politics

• Race-based voting districts limited by Supreme Court in major ruling.

World

• Iran’s Hormuz offer rejected by Trump as blockade continues.

• Hormuz traffic stalls as U.S. seeks coalition to restart shipping.

• Iran targeted as U.S. weighs first hypersonic missile use.

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Bay Area Times Daily - Apr. 29, 2026

1. Elon testifies he’s suing OpenAI over alleged charity “theft” in Altman trial

• Musk said the case could set a precedent for “looting every charity in America” if OpenAI’s conduct isn’t deemed improper.

• OpenAI attorney William Savitt objected, asking the judge to strike the testimony as Musk isn’t a lawyer.

• “AI could make everyone prosperous, but it could also kill us all,” Musk said.

• Microsoft backed Altman and Brockman in making a “mockery” of OpenAI’s mission, Musk’s lawyer, Steven Molo, said.

• Musk had supported a for-profit structure early on, calling a nonprofit setup a “mistake,” Savitt said.

• The judge urged Musk and Altman to curb social media posts that could escalate the case.

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3. OpenAI, Amazon expand deal to bring models to AWS a day after revising Microsoft deal

OpenAI.

• GPT-5.4 and Codex are available in preview via Amazon Bedrock.

  • Coming soon: GPT-5.5.

• Feb.: OpenAI and Amazon first announced their partnership on server-based AI for businesses.

Also, AWS launched a desktop app for its Amazon Quick AI assistant to connect tools and local files

Amazon.

• AWS also launched Amazon Connect Decisions and Connect Talent for logistics and recruiting workflows.

OpenAI calls missed-goals report “prime clickbait,” says business is “firing on all cylinders”

• Mon.: WSJ reported OpenAI had fallen short of several internal targets as rivals gained ground.

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5. White House said to hold workshops to bring Anthropic back into government use

Representational image generated using ChatGPT.

• Draft executive action is reportedly in the works to ease restrictions on Anthropic.

• The White House is reportedly meeting companies to draft guidance on Mythos that could ease limits on Anthropic use.

• Anthropic and the Pentagon could return to negotiations.

• Separately, the DoW is expanding use of Google Gemini to avoid overreliance on one vendor, Pentagon AI chief Cameron Stanley said.

6. ChatGPT Go subs seen surging 36x to 112M in 2026, Plus falling to ~9M in OpenAI projections

Pro subs are set to 2x but remain <1% of total subscriptions:

The Information.

• OpenAI has projected total consumer subs to hit 112M in 2026 and 306M by 2030.

Ads are seen becoming the largest revenue driver by 2030 at ~$102B (~36% of total)

The Information.

Avg. subscription revenue per user is seen falling to $141 in 2027, while ad revenue per user rises to ~$59

The Information.

7. Anthropic partners with Adobe, Autodesk, others to embed Claude in creative workflows

Claude’s Autodesk Fusion connector lets designers create and edit 3D models through conversation:

X: Claude.

• A set of connectors lets Claude integrate with creative tools.

• Anthropic joined Blender’s Development Fund as a Corporate Patron, committing €240K+ annually.

8. NVIDIA launches Nemotron 3 Nano Omni as family tops 50M downloads

Nemotron 3 Nano Omni has outperformed Nano VL V2 on early benchmarks, per NVIDIA:

NVIDIA.

• ~30B parameters.

• Combines vision and audio encoders with a 30B-AD3B hybrid MoE architecture.

• Available via Hugging Face, OpenRouter, and NVIDIA.

• Compatible with proprietary cloud and other NVIDIA Nemotron models.

• Foxconn and Palantir, among others, are already adopting it.

9. 31% of U.S. adults expect driverless cars in 5 years

Gallup.

Ownership interest has remained flat over 7 years

Gallup.

36% said mostly human-driven cars are the safest option

Gallup.

10. North Korea’s ~50 warheads near level to overwhelm U.S. missile defenses

Bloomberg.

North Korea released 2025 images of Yongbyon’s enrichment plant, once key to failed Trump-Kim talks

Bloomberg.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• OpenAI Codex forbids random mentions of goblins, gremlins in instructions.

• Microsoft rolls out Copilot 365 to Accenture’s 743K staff.

• Parallel Web Systems, ex-Twitter CEO’s AI startup, raises $100M at $2B.

Tech

• True Anomaly raises $650M at $2.2B valuation, funding tops $1B.

• Spotify Q1 revenue +8% YoY to €4.5B, MAUs +12% to 761M.

• TSMC sells remaining Arm stake for ~$231M at $207.65/share.

Tech & Law

• China halts Level 4 AV licenses after Apollo Go robotaxi disruptions: report.

Biotech

• Knee implant outperforms standard care at 5 years.

• Genflow, Acuitas partner on gene delivery for longevity therapies.

• Coultreon raises $125M for immune resilience.

• Endlyz raises Seed 2 funding to target Parkinson’s at cellular roots.

Business

• Ackman’s fund IPO raises $5B for permanent capital plan.

Crypto

• Polymarket discusses lifting US ban with CFTC to return exchange: sources.

• SBF retrial request denied, judge blocks withdrawal bid.

• Robinhood Q1 revenue +15% YoY to $1.07B, crypto revenue -47%.

U.S. politics

• James Comey charged over seashell photo threatening Trump.

World

• Iran blockade set to extend as Trump prepares aides for longer push.

• King Charles urges U.S. to reject isolationism in Congress speech.

• UAE exit blindsides OPEC, threatens grip on oil market.

• China oil buys draw U.S. bank sanction threat over Iran trade.

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Bay Area Times Daily - Apr. 28, 2026

1. Microsoft, OpenAI drop AGI-linked IP clause as Microsoft retains model access to 2032

Representational image generated using ChatGPT.

• Microsoft and OpenAI amended their agreement to provide long-term clarity.

• OpenAI can offer its products across any cloud provider, per the agreement.

• Through 2030, Microsoft will continue to receive a share of OpenAI’s revenue regardless of AGI.

• Microsoft will no longer share some revenue from Azure sales of OpenAI models.

• Previously, Microsoft shared 20% of Azure-based model revenue with OpenAI.

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3. Musk-Altman trial seats nine-person jury, opening arguments set for Tue.

Markets are pricing in a 46% chance that Elon Musk will win the case:

Polymarket.

• Judge Yvonne Gonzalez Rogers is overseeing the case.

• May 21: liability phase expected to wrap, Rogers said.

• A remedies phase will determine damages and next steps.

• Some jurors said they held negative views of Musk but could remain impartial.

• “Scam Altman and Greg Brockman stole a charity,” Musk said on X.

• OpenAI called the lawsuit “baseless” and a bid to derail a competitor.

• Musk boosted Ronan Farrow’s article on Altman’s alleged deception.

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5. OpenAI said to miss ChatGPT 1B weekly users goal, multiple revenue targets ahead of IPO

OpenAI hit 700M WAUs in Aug. but hasn’t reached its 1B target for 2025-end:

• CFO Sarah Friar reportedly warned leaders about the risk of funding future compute if revenue growth slows.

• Board directors have scrutinized data-center deals more closely in recent months.

• Directors questioned Altman’s push to secure more compute amid a slowdown.

• Friar and other executives were at times at odds with Altman over costs and discipline.

• Altman and Friar disputed reports of misalignment, calling them “ridiculous.”

6. Google said to sign deal allowing U.S. DoW to use its AI for any lawful purpose

• Google’s AI can be used for “any lawful government purpose” by the Pentagon, per the agreement.

• Mon.: some employees reportedly urged CEO Sundar Pichai to reject the deal.

• The agreement requires Google to adjust AI safety settings at the government’s request.

7. Xiaomi open sources MiMo-V2.5 models, touts efficiency for agentic tasks

MiMo V2.5 Pro has topped open-weight models, tying Kimi K2.6 on the Artificial Analysis Intelligence Index:

X: Artificial Analysis.

• MIT-licensed.

• Model weights are available via Hugging Face.

• MiMo-V2.5 is an “Omni” multimodal model; MiMo-V2.5 Pro is an “Agent” specialist.

• MiMo-V2.5 costs $0.4/$2 per million input/output tokens vs. Kimi K2.6 ($0.16/$4), GPT-5.5 ($5/$30), and Claude Opus 4.7 ($5/$25).

• MiMo-V2.5 Pro costs $1/$3 per million input/output tokens.

8. Ineffable Intelligence raises $1.1B seed at $5.1B valuation, Europe’s largest seed round

X: Ineffable Intelligence.

• David Silver, creator of DeepMind’s AlphaGo, founded the London-based startup.

• Lightspeed Venture Partners and Sequoia Capital led the round.

• The UK government, NVIDIA, and Google also participated.

• The startup aims to build AI “superlearners” that can continuously learn and adapt across tasks.

9. Meta said to prepare to unwind Manus deal after China blocks acquisition

• Beijing gave Meta and Manus several weeks to unwind the deal.

• Former Manus investors in Asia plan to cooperate if Meta proceeds.

• China has considered penalties if the deal isn’t fully rescinded.

10. Americans lost $2.1B to social media scams in 2025, led by Facebook, FTC says

FTC.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• GitHub to shift Copilot to usage-based billing with AI Credits from Jun. 1.

• Taylor Swift files trademarks for voice, image amid AI concerns.

• AI used in ~35% of new websites since ChatGPT launch: analysis.

Tech

• Apple to allow 12-month subscriptions from May, excluding U.S., Singapore.

Biotech

• Personalized longevity care offered without long-term commitment.

• Cellular rejuvenation research shows promise to transform aging, disease.

• 4P004 wins FDA fast track for knee osteoarthritis treatment.

• Longevity readiness lags among global brands, employers.

• HR leaders urged to act on longevity in workplace health.

• Muscle strength emerges as missing link in longevity.

Business

• Ray-Ban heir wins approval for €10B buyout of siblings’ stakes.

• Pershing Square IPO seen raising ~$5B at low end of range.

• BOJ split vote marks most hawkish divide under Ueda.

Crypto

• Ondo adds proxy voting for $700M tokenized equities holders.

• Bitmine’s Ether buys near Strategy’s Bitcoin accumulation pace.

U.S. politics

• Cole Allen charged with attempted assassination of Trump.

• Jimmy Kimmel defends joke after Trump calls for his firing.

World

• Iran proposal under review by Trump as oil prices rise further.

• King Charles visits White House as Trump hosts state visit.

• Hormuz reopening plan irks Trump as Iran proposal faces skepticism.

• Iran stockpiles unsold oil in derelict tanks as blockade squeezes exports.

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1. Meta’s $2B Manus deal blocked by China after investment review

• China’s National Development and Reform Commission ordered the cancellation in a one-line notice.

• The decision may chill China’s AI sector.

• Comes weeks before a Trump-Xi meeting.

• Marks a setback for Meta as it competes with OpenAI and Anthropic.

• It’s unclear how Meta will unwind the deal, with employees already onboarded and capital transferred.

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3. Anthropic says Google to invest $10B at prior $350B, with $30B tied to targets

• Google Cloud will provide ~5GW of compute capacity to Anthropic over five years.

• Marks an expansion of an agreement between Google, Anthropic and Broadcom.

• Apr. 20: Anthropic nabbed another $5B from Amazon, also at $350B (pre-money).

4. Musk-Altman trial set to begin Mon. over $134B OpenAI lawsuit

Markets are pricing in 43% odds that Musk will win the case:

Polymarket.

• 9 jurors will be seated with no alternates, per a Mar. filing.

• A U.S. judge dismissed Musk’s fraud claims against OpenAI but will allow breach of trust and enrichment claims to proceed to trial.

• Court will run from 11:30 AM ET Mon.-Thu.

• Jury selection will be followed by opening arguments; each side has ~20 hours.

• Microsoft will have 5 hours, per the filing.

• Musk claims OpenAI, Sam Altman. and Greg Brockman reneged on a pledge to keep the lab nonprofit.

• OpenAI has called the lawsuit “baseless” and a “harassment campaign.”

5. OpenAI sets five principles for AGI, pledges to avoid power concentration

• Commits to keeping AI decisions subject to “democratic processes,” not just labs.

• OpenAI has scaled since 2018 and may trade some empowerment for resilience, Altman said.

• Promises broad user latitude while allowing caution where harms are uncertain.

• Heavy compute spend, vertical integration, and global data centers reflect a belief in universal prosperity, OpenAI said.

• Will work with companies, governments, and society to address AI risks, backed by its foundation.

• Says it will adapt principles as it grows, with transparency on trade-offs.

6. White House pressures GOP states to curb AI bills, citing federal push

Representational image generated using ChatGPT.

• Proposed AI bills conflict with Trump’s agenda, Florida and Utah officials were told by a White House office.

• Disparate state rules would hurt the U.S. in the AI race, a White House official said.

• Missouri Sen. Joe Nicola said he diverges from the White House on AI as his liability bill was blocked over funding fears.

• Some Republicans argue states should pursue their own AI rules.

7. Anthropic tests Project Deal with Claude buying, selling items for employees

Claude interviewed 69 employees to trade on their behalf, running 4 parallel markets with different models negotiating:

X: Anthropic.

• How AI could shape commercial exchange is the aim of the experiment.

• Models agreed on 186 deals totaling ~$4K in transactions.

• Opus models secured better deals, often negotiating with Haiku and other Opus models.

• AI agent markets show promise but face flaws, with stronger models gaining unnoticed advantages and policy needing to catch up, Anthropic said.

8. NVIDIA stock +4.3% to record, market cap tops $5T as chip rally lifts sector

CompaniesMarketCap.

• 1st record since Oct., as an Intel rally lifted chipmakers.

• Investors are piling into chip stocks ahead of hyperscaler earnings this week.

9. Intel stake held by U.S. rises ~4x to ~$36B since $8.9B purchase

Bloomberg.

• U.S. taxpayers will own 433.3M Intel shares at $20.47 each once conditions are met.

• Intel’s outlook signals CEO Lip-Bu Tan is advancing a turnaround with balance sheet and operational gains.

• Intel stock +24% on Fri., hitting an all-time high.

10. Taiwan stock market hits ~$4.3T, tops UK as South Korea nears, driven by chip giants

Bloomberg.

Asian stocks more weighted to teach than European peers

Bloomberg.

11. Interesting videos, posts, and memes

12. Other headlines

AI

• OpenAI teams with MediaTek, Qualcomm on smartphone chips: report.

• Sam Altman apologizes over ChatGPT shooter case.

• Thrive takes stake in SF Giants via venture targeting AI-proof assets.

• DeepSeek cited as U.S. orders global push on alleged AI model distillation.

• Genki Robotics, Andy Rubin’s humanoid robotics startup, gets $1B valuation.

• Abundance hedge fund launches to be run by AI agents with $100M seed.

• Atlassian, HubSpot shift to usage-based AI pricing from flat fees.

• Andon Market debuts as AI-run boutique powered by Claude Sonnet agent.

• Human Intelligence seeks ~$100M at ~$1B valuation: report.

• Dwarkesh Patel’s podcast becomes must-listen in AI with top guests.

Tech

• Meta, Amazon strike multibillion multiyear deal for Graviton chips.

• XChat app launches on iPhone, iPad with new features.

• X Money launch faces U.S. regulatory delays as skepticism grows.

• ASML plans 60 EUV machines in 2026, +36%.

• Stanford sees VCs court teens with funding, mentorship to monetize talent.

Tech & Law

• xAI challenge to Colorado AI law backed by DOJ.

Biotech

• Insilico forms industry’s first AI Longevity Board.

• Longevity education shifts to clinical training.

Business

• California billionaire tax clears signature threshold to make ballot: backers.

Crypto

• CFTC sues New York to block oversight of prediction markets.

• Trump hosts $TRUMP gala, touts crypto policy, skips token drop.

• Prediction platforms blocked in Brazil.

U.S. politics

• Warsh confirmation set to advance as GOP holdout Tillis backs vote.

• D.C. gala gunman built arsenal to target U.S. officials.

• Sergey Brin challenges Newsom, ramps up political push against wealth tax.

World

• Iran refuses to end nuclear enrichment in talks with U.S.

• Knesset elections see Bennett, Lapid launch unified party.

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Bay Area Times Daily - Apr. 24, 2026

1. GPT-5.5 debuts as stronger than Opus 4.7, weaker than Mythos

GPT-5.5 topped the Artificial Analysis Intelligence Index (of public models), overtaking Claude Opus 4.7 and Gemini 3.1 Pro:

X: Artificial Analysis.

• GPT-5.5 will power OpenAI’s upcoming “super app,” including chatbot, coding tool, and web browser.

• Matches GPT-5.4 latency while delivering higher intelligence, OpenAI said.

• Priced at $5/$30 per 1M input/output tokens (~2× GPT-5.4), vs. Opus 4.7 ($5/$25), Gemini 3.1 Pro ($2/$12 ≤200K), and Kimi K2.6 ($0.95/$4).

  • GPT-5.5 Pro costs $30/$180 per 1M tokens.

• Gains are strongest in agentic coding, compute use, and early scientific research, OpenAI said.

• Rolling out to Plus, Pro, Business, and Enterprise users across ChatGPT and Codex.

• GPT-5.5 Pro will be available to Pro, Business, and Enterprise users in ChatGPT.

Anthropic’s Mythos is taking on GPT-5.5 across benchmarks

Similarly to GPT-5.4, GPT-5.5 (xhigh) has an 86% hallucination rate vs. Opus 4.7 (36%) and Gemini 3.1 Pro (50%)

X: Artificial Analysis.

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3. DeepSeek releases V4 Pro, V4 Flash open-weight models in preview

V4 Pro topped open-weight models on the GDPval-AA leaderboard:

X: Artificial Analysis.

• V4 Pro is a significant upgrade over V3.2 in agentic capabilities.

• 1.6T parameters (49B active), DeepSeek’s largest model.

• V4 Flash has 284B parameters (13B active).

• MIT licensed.

• Text-only input/output, similar to V3.2.

• V4 Pro costs $1.74/$3.48 per 1M input/output tokens vs. GLM-5.1 ($1.4/$4.4) and MiniMax-M2.7 ($0.3/$1.2).

• V4 Flash costs $0.14/$0.28 per 1M tokens.

• Available via DeepSeek’s API initially.

• Huawei said its Ascend 950-based supernode will fully support V4.

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5. Anthropic fixes Claude Code issues tied to reasoning, caching, verbosity

Default reasoning set to “xhigh” for Opus 4.7 and “high” for other models to boost intelligence:

Anthropic.

• Overlapping experiments and a hard-to-reproduce bug delayed detection; fixed on Apr. 10.

• Apr. 20: Anthropic reverted a prompt change that reduced verbosity but hurt performance.

• Anthropic is adding tighter controls on system prompt changes.

• The company will also have more staff use the exact public build of Claude Code.

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7. Meta, Microsoft plan cuts, buyouts affecting ~23,000 jobs as Meta targets ~10% layoffs

Meta plans to cut ~8K jobs starting May 20 as part of streamlining efforts:

• It will also not fill ~6K open roles, per an internal memo.

• ~7% of Microsoft’s U.S. workforce (~8,750 employees) will be eligible for voluntary buyouts.

• Buyouts at this scale were not previously offered by Microsoft.

• Employees whose age plus years of service totals 70+ are eligible, with some exclusions.

8. Cohere, Aleph Alpha agree merger at ~$20B to build “sovereign” AI

• The German and Canadian governments support the deal.

• Marks early signs of AI consolidation following SpaceX’s move to acquire Cursor.

• Cohere will retain its name and operate dual HQs in Canada and Germany.

• Aleph Alpha shareholders will receive 1 Cohere share for every 9 shares.

• A $600M funding round led by Schwarz Digits will accompany the deal.

9. Cognition said to eye raising hundreds of millions at $25B valuation

• Talks are ongoing, and terms could change.

• Earlier this week: SpaceX announced a deal with Cognition rival Cursor to acquire or partner for an AI push.

10. Cursor said to hit $2.7B ARR, ~14x YoY, with ~$900M loss on $770M revenue

The Information.

• Fear about Anthropic reportedly complicated Cursor’s fundraising before agreeing to the SpaceX buyout.

• Cursor’s gross margin was -23% in the Jan. quarter but recently turned positive.

11. Intel Q1 revenue +7% YoY to $13.6B vs. $12.4B est., shares +20%

• +22% YoY in data center revenue to $5.1B.

• +16% YoY in foundry revenue to $5.4B.

• Q2 revenue guided to $13.8B-$14.8B vs. $13.07B est.

12. Global edtech funding drops to $2.6B in 2025 from $16.7B in 2021

Rest of World, Tracxn.

Edtech startups launched fell from 10,491 in 2021 to 645 in 2025

Rest of World, Tracxn.

67 edtech startups collectively burned through $17.1 billion in capital

Rest of World, Loot Drop — The Startup Graveyard.

13. Interesting videos, posts, and memes

14. Other headlines

AI

• White House says China-linked entities distilling U.S. AI at industrial scale.

• Anthropic, Freshfields partner to build legal AI tools.

Tech

• Instagram launches Instants app for disappearing photos in Italy, Spain.

• Xbox sets daily players as “north star” in turnaround strategy.

Tech & Law

• Verizon wins as UMG drops copyright suit after SCOTUS ruling.

• Tech tax row sees Trump threaten Starmer with “big tariff” over UK policy.

• Norway plans social media ban for under-16s, bill due by end-2026.

Biotech

• ŌURA expands into health AI stack with latest acquisitions.

• Regeneron wins FDA nod for hearing gene therapy, to offer it free in U.S.

Business

• Citadel threatens to halt NYC expansion amid clash with Mamdani.

• Ken Griffin pushes back as Mamdani spotlights $238M penthouse.

• Spirit Airlines eyed for government buyout as Trump floats takeover plan.

Crypto

• SBF withdraws retrial motion, cites unfair trial concerns.

• $Trump coin buyers invited to Mar-a-Lago bash on Apr. 25.

U.S. politics

• State-licensed medical marijuana reclassified by Trump.

World

• Maduro arrest bet sees DOJ arrest soldier who made $400K.

• Iran blockade touted by Trump as Israel-Lebanon truce extended.

• Iran ceasefire holds as U.S. deploys third aircraft carrier to region.

• Ukraine wins €90B EU loan after Hungary lifts veto.

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