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March 29, 2025, 11:20 AM
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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 …
More: New York Times, NBC News, Fox Business, Wired, Axios, Washington Post, GSMArena.com, The Verge, Reuters, Nairametrics, BusinessLIVE, International Business Times, Us Weekly, Social Media Today, Coinpedia Fintech News, Semafor, Associated Press, Cointelegraph, Deutsche Welle, BetaNews, BBC, Ars Technica, E! Online, UPI, Greek City Times, Mashable, PC Gamer, Rolling Stone, SiliconANGLE, Cryptopolitan, BGR, Türkiye Today, Dexerto, TVNewsCheck, Gizmodo, Engadget, Variety, Deadline, Benzinga, The Wrap, Barron's Online, Business Insider, Fortune, The Hollywood Reporter, Cord Cutters News, Bloomberg, The Post Millennial, MarketWatch, San Francisco Chronicle, Tech in Asia, and Forbes
Bluesky: @lino.io, @lorak, @radiodeadair.com, @laurengoode, @petertl, @malwaretech.com, @malwaretech.com, @rmac, @rmac, @mgsiegler.com, @ivanthek, @caseynewton, @peark.es, @spencercallaghan.ca, @michaelmartinez.co, @supermickychow, @danny.page, and @beartromboneparrot.  Mastodon: @carnage4life@mas.to
Threads: @alexhcranz, @edmundlee, @edmundlee, @kalihays1, @sung.kim.mw, @karaswisher, and @quillmatiq
X: @lindayax, @adamscochran, @munster_gene, @rashidlasker, @chamath, @apompliano, @austin_rief, @garymarcus, @teslaconomics, @kyliebytes, @levynews, @luke_metro, @kimmonismus, @daveg, @pkafka, @fredericlambert, @mrewanmorrison, @nearlydaniel, @sawyermerritt, @mgsiegler, @devahaz, @bindureddy, @quantian1, @danprimack, @adamscochran, @amitisinvesting, @scobleizer, @bilawalsidhu, @kgreifeld, @mikeisaac, @rga, @stanphylcap, and @elonmusk
Forums: Hacker News, r/technology, r/Hasan_Piker, r/elonmusk, r/musked, r/NewsOfTheStupid, r/worldnews, r/ArtificialInteligence, r/economy, r/stupidpol, r/economy, r/teslainvestorsclub, and r/news
See also Mediagazer
Bloomberg:
Source: the new combined entity housing xAI and X is called XAI Holdings and is valued at more than $100B but less than $113B, since X already owned part of xAI  —  - New joint entity is valued at over $100 billion, person says  — X, xAI already partnered on data sharing and Grok distribution
Arfa Javaid / Financial Express:
Replit CEO Amjad Masad says learning to code is a waste of time, citing Dario Amodei's prediction that AI may generate essentially all code by next year  —  Repli CEO Amjad Masad said that since AI will take over coders in future, one should not waste time on studying coding now.
Alex Kantrowitz / Big Technology:
World History Encyclopedia, the second most visited history site, says its traffic fell 25% in Nov. 2024 after AI search tools began presenting its information  —  World History Encyclopedia CEO Jan van der Crabben saw his site show up in Google's AI Overviews and ChatGPT.  Then traffic dropped 25%.
Bain:
India's e-commerce market grew 10%-12% YoY to ~$60B in GMV in 2024, versus historical rates of over 20%, with 270M+ people shopping online, second only to China  —  Executive summary  —  India has become a retail powerhouse over the last decade, ascending to the third largest retail market globally in 2024.
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.
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
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
New York Times:
US tech companies are racing to establish more and bigger offshore campuses in India, fully staffed with highly skilled professionals in cities like Bengaluru  —  An abundance of motivated young professionals is luring American businesses to base their global operations in Indian cities.
Debarghya Sil / Inc42 Media:
Gensol's troubles cast doubt on the future of Indian EV ride-hailing firm BluSmart, founded by Gensol's promoters; BluSmart has raised $180M in debt and equity  —  There seems to be no respite for Gensol Engineering and ride-hailing startup BluSmart.  In a fresh development …
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

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From Mediagazer

CNBC:
Newsmax shares jumped 179% on Tuesday and have risen 1,500%+ since their Monday debut, bringing the company's market cap to ~$20.8B, above WBD's and Fox Corp's

Stephen Battaglio / Los Angeles Times:
Steve Kornacki signs a deal with NBC News and NBC Sports and departs from MSNBC, which Comcast is spinning off into a new corporate entity

American Journalism Project:
John Thornton, founder of The Texas Tribune, co-founder of the American Journalism Project, and venture capitalist, has died at age 59

More News

Dan Primack / Axios:
Brooklyn-based Underdog, a fantasy sports and sports betting app, raised $70M in a first Series C tranche at a $1.23B valuation from Spark Capital

Earlier Picks

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
CNBC:
Trump pardons BitMEX founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who previously pled guilty to federal criminal charges related to money laundering
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
Steven Levy / Wired:
Anthropic researchers share the surprises they observed while watching Claude think: planning ahead, confusion between safety and helpfulness goals, lying, more
More: Transformer Circuits, TechRepublic, AI News, and Anthropic
Bluesky: @lemmk.  Threads: @sobri909.  X: @simonw, @simonw, and @emollick.  Forums: Lobsters
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
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