OpenAI CFO Sarah Friar denies seeking government backing for the company's massive $1.4 trillion infrastructure deals to build data centers, while CEO Sam Altman reveals revenue has surged well beyond the previously reported $13 billion annually.
Snapchat stock crashes 14% in after-hours trading despite reporting strong Q1 earnings with $1.36 billion revenue, 460 million daily users, and 55% growth in its controversial My AI feature as CEO announces major investments in AI-augmented reality integration.
Alibaba-backed Chinese startup Moonshot unveils 'Kimi K2 Thinking' AI model that reportedly outperforms ChatGPT in autonomous task completion while costing just $4.6 million to train versus OpenAI's billions, as major U.S. companies like Airbnb embrace cheaper Chinese alternatives amid escalating global AI competition.
Anthropic projects explosive growth to $70 billion revenue by 2028 and seeks $300-400 billion valuation as its Claude AI products drive rapid business adoption, with Claude Code alone approaching $1 billion in annual revenue.
Pinterest stock crashes 21% as CEO warns Trump tariffs will damage Q4 revenue despite launching AI-powered shopping assistant and achieving major cost savings through open source AI models.
Cybersecurity firm Armis raises $435 million at a $6.1 billion valuation while boldly rejecting seven acquisition offers including a $5 billion bid from Thoma Bravo, choosing instead to pursue an IPO in late 2026 with $300 million in annual recurring revenue.
Michael Burry places $1 billion bet against AI giants Nvidia and Palantir as tech stocks plummet and Goldman Sachs and Morgan Stanley CEOs predict a major 10-20% market correction within two years amid AI bubble concerns.
Andreessen Horowitz shuts down its $175,000 Talent x Opportunity Fund that supported over 60 underserved founders since 2020, laying off at least three staff members as the firm integrates diversity efforts into its broader investment strategy.
OpenAI recruits over 100 former Goldman Sachs and JP Morgan bankers at $150/hour for Project Mercury, training AI models to automate entry-level investment banking tasks like cash-flow analysis and pitchbook creation, potentially revolutionizing Wall Street's traditional apprenticeship system.
Anthropic integrates Claude AI directly into Microsoft Excel with a sidebar interface that reads, modifies, and creates spreadsheets, delivering 5x faster business reviews and 90% data accuracy for major financial institutions during beta testing.