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March 28, 2025, 10:20 PM
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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 …
Bloomberg:
Source: the new combined entity housing xAI and X is called XAI Holdings and is valued at more than $100B, not including debt  —  - New joint entity is valued at over $100 billion, person says  — X, xAI already partnered on data sharing and Grok distribution
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
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
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.
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.
Zac Bowden / Windows Central:
In the latest Windows 11 preview build, Microsoft removed the “bypassnro” command, which let users skip signing into a Microsoft Account when installing Windows  —  The popular “bypassnro” command, which let users to skip connecting to the Internet and signing into a Microsoft Account, is being removed.
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 …
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.
Bloomberg:
Source: hackers broke into Oracle's Cerner servers sometime after January 22 and stole patient data to extort US medical providers; the FBI is investigating  —  - The FBI is investigating the incident from earlier this year  — Hacker used stolen logins to access old servers, Oracle said
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
Jeremy Kahn / Fortune:
Anthropic says it created a new tool for deciphering how LLMs “think” and used it to resolve some key questions about how Claude and probably other LLMs work
Ivan Mehta / TechCrunch:
Google starts offering user choice billing in the UK, initially to non-game developers, says 90%+ of developers are satisfied with Google Play's native billing  —  Google said today that it will start offering user choice billing in the U.K., giving Google Play developers the ability to use …

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 10:20 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.

From Mediagazer

David Folkenflik / NPR:
NPR and three Colorado public radio stations sue Trump, saying his executive order to cut federal funding violated the US Constitution and the First Amendment

Bloomberg:
Filing: Tencent is buying a ~10% stake in SM Entertainment for ~$180M from BTS agency Hybe, as China is expected to lift its unofficial ban on K-pop concerts

Dominic Ponsford / Press Gazette:
Docs: The Guardian reports revenue up 6.7% YoY to £275M in the year to March 2025, losses down to <£25M, digital revenue up 20%+ YoY to £100M+, and 1.3M subs

More News

Emily Nicolle / Bloomberg:
Michael Novogratz's Galaxy Digital will pay $200M as part of a settlement with the New York AG over the firm's role in promoting the failed Luna cryptocurrency
Abner Li / 9to5Google:
Google says Pixel 9a will launch in the US, Canada, and UK on April 10; the company delayed the phone's launch to April to check “on a component quality issue”

Earlier Picks

Olivia Solon / Bloomberg:
AppLovin hires a law firm to investigate short sellers' allegations that the mobile ad company's ad performance numbers are fraudulent
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
Sheon Han / Wired:
How Paul Ginsparg, a Cornell University physics professor, created the digital repository arXiv nearly 35 years ago to help researchers share their preprints
Financial Times:
Sources: the EU will impose minimal fines on Apple and Meta next week, far below the DMA's 10% of global turnover cap, to avoid tensions with President Trump
Amanda Silberling / TechCrunch:
Nintendo unveils Virtual Game Cards, letting users transfer existing digital Switch games to other consoles and lend them out more easily, available in April
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