The Arena
Two stories this morning about what the AI era is doing to the software economy's old guard: Canva's own backers just cut billions off its valuation, and Meta's Superintelligence Lab is losing one of its most expensive hires to a startup. Canva's
The Arena
China's in-car AI race just got a new economics story: a 7-nanometer automotive AI chip priced in the thousand-yuan range is now shipping at volume. SiEngine, the Wuhan-based automotive chipmaker, announced on August 12 that its self-developed Tiangong 100 AI accelerator has entered
The Arena
Apple is reportedly training its own large language model specifically for the Chinese market — a departure from its plan to lean on third-party models — and Alibaba is helping it do it. Meanwhile, China's top foundries just posted the strongest quarters in their histories as AI demand spills
The Frontier
China's open-weights race just produced its most awkward win: Zhipu's GLM-5.3 landed Thursday with frontier-level coding and a cyber capability its own makers admit outgrew their expectations — and Moonshot AI is racing a closing window toward a Hong Kong listing. Zhipu released
The Frontier
China's AI week keeps delivering: a social-commerce giant just opened the weights of the first model family to ace the International Mathematical Olympiad, and the country's top foundry is cashing in on AI demand like never before. Xiaohongshu's dots lab open-sourced dots3-
The Arena
Humanoid robotics gets its first public-market stress test this month, and retail investors just showed up in record numbers — even as the analysts watching the deal wonder whether the machines can actually earn their keep. Unitree Robotics' Shanghai STAR Market IPO closed its retail subscription more than 5,
The Arena
AMD went to the debt market for the biggest raise in its history this week, and investors lined up — the latest sign that the AI buildout is now financed with bonds as much as with equity. AMD priced $4.75 billion in investment-grade bonds Thursday — the largest bond offering
The Guardrails
OpenAI is staring down the biggest safety crisis in its history — and its own employees say the company's culture helped cause it. Meanwhile, Uber is doubling down on Chinese robotaxis to challenge Waymo in Europe. Wired reports that current and former OpenAI employees blame the pressure to ship
The Arena
The AI buildout's earnings parade keeps producing record quarters — and the market keeps asking for more. Applied Materials delivered its best-ever results Thursday and raised its outlook, and its stock still slipped. Applied Materials posted record fiscal third-quarter revenue of $9.12 billion, up 25% year
The Arena
The AI buildout is entering its financing chapter: Vantage Data Centers is weighing a roughly $100 billion listing, three rival operators are queued behind it, AMD just raised $4.75 billion in debt, and Micron's venture arm opened a $250 million fund for AI startups. Vantage Data Centers
The Arena
OpenAI's business just crossed a milestone that reframes its IPO math: the company is now generating revenue at an annualized pace above $40 billion — roughly double its run rate at the end of last year. OpenAI is on track to generate annualized revenue of more than $40 billion
The Arena
OpenAI is shipping the memory feature that turns your computer's activity into assistant context — and it's designed to avoid the privacy blowup that sank Microsoft's version. Also: Microsoft quietly retires its Clippy-like mascot. OpenAI launched Computer History, an opt-in feature for ChatGPT