Techmeme
March 28, 2025, 7:20 PM

Top News

CNBC:
Elon Musk says xAI acquired X in an all-stock deal valuing xAI at $80B and X at $33B; xAI was reportedly in talks to raise funds in February at a $75B valuation  —  Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values …
Jordan Novet / CNBC:
CoreWeave closes flat at $40 in its Nasdaq debut; CoreWeave's offering is the largest US IPO since UiPath's NYSE debut in 2021  —  CoreWeave's stock opened at $39 and closed at $40 in its Nasdaq debut on Friday after the company sold shares at $40 a piece, below the expected range.
CNBC:
CoreWeave raised $1.5B in its IPO, selling ~37.5M shares at $40 each, down from a planned 49M shares at $47-$55; source: Nvidia anchored with a ~$250M order  —  CoreWeave on Thursday priced shares at $40 in the company's IPO, raising $1.5 billion in the biggest U.S. tech offering since 2021, CNBC has confirmed.
Wall Street Journal:
Sources: OpenAI is finalizing a $40B round led by SoftBank, receiving $10B initially and another $30B by 2025's end if it restructures into a for-profit company  —  A stipulation of the funding round, led by SoftBank, adds pressure to OpenAI's efforts to convert to a for-profit company
CNBC:
Trump pardons BitMEX founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who previously pled guilty to federal criminal charges related to money laundering  —  President Donald Trump has granted pardons to three co-founders of the BitMEX cryptocurrency exchange, CNBC has learned.
Pete Schroeder / Reuters:
The US FDIC says banks can engage in cryptocurrency and other legally permitted activities without prior regulatory approval if they manage risks appropriately  —  Another U.S. bank regulator has announced that banks do not need to receive advance permission to engage in some crypto-related activities.
Makena Kelly / Wired:
Sources: DOGE aims to migrate all Social Security Administration's computer systems off COBOL in a matter of months, risking the integrity of SSA infrastructure  —  Social Security systems contain tens of millions of lines of code written in COBOL, an archaic programming language.
Steven Levy / Wired:
Interviews with Dario Amodei, Daniela Amodei, and other executives about Anthropic's origin, Claude, why DeepSeek isn't a threat, reaching AGI safely, more  —  The brother goes on vision quests.  The sister is a former English major.  Together, they defected from OpenAI, started Anthropic …
Jeremy Kahn / Fortune:
Carmen Reinicke / Bloomberg:
Reddit shares are down 50% from a February high, after its Q4 earnings report showed its traffic took a hit from a change in Google's search algorithm  —  Reddit's outlook seemed precarious because its US traffic took a hit from a change in Google's search algorithm.
Bluesky: @willoremus.comX: @rustybrickForums: Beehaw
Sarah Wynn / The Block:
Crypto.com says the US SEC won't pursue enforcement action; Crypto.com sued the SEC in October after receiving a Wells notice signaling potential charges  —  - Crypto.com said that the SEC will not file an enforcement action against the company.  — Crypto.com sued the SEC in October …
Luisa Beltran / Fortune:
A jury finds Frank founder Charlie Javice guilty of defrauding JPMorgan Chase by falsifying Frank user numbers; the charges carry a maximum sentence of 30 years  —  A Manhattan jury on Friday issued a guilty verdict against Charlie Javice, the 33-year-old CEO who duped JPMorgan Chase into buying …

Sponsor Posts

Google:
Gemini 2.5 Pro: Our most intelligent AI model  —  Gemini 2.5 Pro is now available, with thinking capabilities, enhanced performance, and improved accuracy.  Try it at no cost in the Gemini app.
UiPath:
UiPath Unveils 10 Innovations that Will Shape the Agentic Future  —  Orchestration engine, API workflows and agentic testing among key features of new UiPath Platform™ for agentic automation, launched at UiPath DevCon 2025
Zoho:
Leveraging design tool extensions in Cliq: A designer's guide to Figma, Lucidchart, and Miro  —  Picture this: you're deep in a pixel-perfect Figma mock-up, bouncing between chats and emails, when someone pings you for feedback on a Lucidchart workflow.
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Invest Like the Best:
Gustav Söderström - How Spotify Thinks
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
Subscribe to Invest Like the Best.
Techmeme Ride Home:
How Apple Lost AI
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe to Techmeme Ride Home.
Decoder with Nilay Patel:
Microsoft CTO Kevin Scott on how AI can save the web, not destroy it
A show from the Verge about big ideas - and other problems.
Subscribe to Decoder with Nilay Patel.
Grit:
From Scaling Cisco to Seeding AI: John T. Chambers on Speed, Strategy, and Reinvention
Grit explores what it takes to create, build and scale world-class organizations.
Subscribe to Grit.
Lenny's Podcast:
Microsoft CPO: If you aren't prototyping with AI you're doing it wrong | Aparna Chennapragada
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
Subscribe to Lenny's Podcast.
Hard Fork:
Ed Helms Answers Your Hard Questions
The future is already here. Each week, journalists Kevin Roose and Casey Newton explore and make sense of the latest in the rapidly changing world of tech.
Subscribe to Hard Fork.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 7:20 PM ET, March 28, 2025.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Emily Nicolle / Bloomberg:
Abner Li / 9to5Google:
Olivia Solon / Bloomberg:
Sheon Han / Wired:

Earlier Picks

Financial Times:
Debby Wu / Bloomberg:
Amanda Silberling / TechCrunch:
Aisha Malik / TechCrunch:
Maxwell Zeff / TechCrunch:
More: Smashing Frames, Blood in the Machine, Associated Press, USA Today, The Atlantic, 404 Media, Business Insider, VICE, Fast Company, The Decoder, Laptop Mag, New York Post, Adweek, Windows Central, Axios, TheGamer, Spyglass, Entrepreneur, Time, Mashable, The Angle, Fortune, ZDNET, 80 Level, New York Times, Tom's Guide, The Verge, The Verge, and Reservoir Samples