Vishal Chawla / The Block:
DefiLlama: Coinbase’s L2 Ethereum network Base stands at $2.08B in total value locked, up from $430M at the start of 2024, marking a 370% growth year-to-date — – Base has surpassed a total value locked of $2 billion for the first time — a 370% increase year-to-date.
Stripe data: AI startups took a median 11 months to hit $1M in annualized revenue after their first sales, vs. 15 months for previous gen of SaaS companies (Madhumita Murgia/Financial Times)
Madhumita Murgia / Financial Times:
Stripe data: AI startups took a median 11 months to hit $1M in annualized revenue after their first sales, vs. 15 months for previous gen of SaaS companies — New data from payments group Stripe suggest artificial intelligence groups are making revenues at an unprecedented rate
Kamala Harris is courting crypto investors and pro-crypto Democrats, as some prominent Democrats temper their initial skepticism of crypto assets (Joseph Zeballos-Roig/Semafor)
Joseph Zeballos-Roig / Semafor:
Kamala Harris is courting crypto investors and pro-crypto Democrats, as some prominent Democrats temper their initial skepticism of crypto assets — THE SCOOP — Kamala Harris isn’t just talking about a friendlier approach to cryptocurrency than President Joe Biden.
The UK’s Gambling Commission plans to take fantasy football startup Sorare to court next week over charges of providing unlicensed gambling facilities to users (Samuel Agini/Financial Times)
Samuel Agini / Financial Times:
The UK’s Gambling Commission plans to take fantasy football startup Sorare to court next week over charges of providing unlicensed gambling facilities to users — UK betting regulator says it is taking Paris-based Sorare to court next week in rare use of its powers
In an email to OpenAI’s investors, CFO Sarah Friar says the company’s current funding round was oversubscribed and is set to close next week (Kate Rooney/CNBC)
Kate Rooney / CNBC:
In an email to OpenAI’s investors, CFO Sarah Friar says the company’s current funding round was oversubscribed and is set to close next week — OpenAI CFO Sarah Friar is looking to reassure its investors that the richly valued artificial intelligence startup is still in a strong position …
Sources: Intel and the US government plan to finalize $8.5B in direct funding for the chipmaker by year-end, as Intel tries to stabilize its ailing business (Financial Times)
Financial Times:
Sources: Intel and the US government plan to finalize $8.5B in direct funding for the chipmaker by year-end, as Intel tries to stabilize its ailing business — Chipmaker is seeking ways to shore up its business although potential takeover approaches could complicate talks
Source: Arm approached Intel about potentially buying Intel’s product group, but not factory operations; Intel declined, saying the division isn’t for sale (Ian King/Bloomberg)
Ian King / Bloomberg:
Source: Arm approached Intel about potentially buying Intel’s product group, but not factory operations; Intel declined, saying the division isn’t for sale — – Intel’s rapid decline has spurred takeover speculation — Arm is interested in product group, not factory operations
Source: at an all-hands meeting, Sam Altman said there were no plans for him to get a “giant equity stake” in OpenAI, calling the information “just not true” (Hayden Field/CNBC)
Hayden Field / CNBC:
Source: at an all-hands meeting, Sam Altman said there were no plans for him to get a “giant equity stake” in OpenAI, calling the information “just not true” — At an all-hands meeting on Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a …
Berlin-based Distribusion, a B2B marketplace connecting ground transportation providers and online travel retailers, raised an $80M Series C led by TQ Ventures (Cate Lawrence/Tech.eu)
Cate Lawrence / Tech.eu:
Berlin-based Distribusion, a B2B marketplace connecting ground transportation providers and online travel retailers, raised an $80M Series C led by TQ Ventures — Distribusion connects thousands of bus, rail, ferry and public transport providers worldwide to a global network of travel retailers.
Starlink crosses 4M customers; it started beta services in October 2020 and hit 1M subscribers in December 2022, 2M in September 2023, and 3M in May 2024 (Aria Alamalhodaei/TechCrunch)
Aria Alamalhodaei / TechCrunch:
Starlink crosses 4M customers; it started beta services in October 2020 and hit 1M subscribers in December 2022, 2M in September 2023, and 3M in May 2024 — SpaceX’s Starlink satellite internet network is expected to hit a new customer milestone this week, company President Gwynne Shotwell told Texas legislators on Tuesday.
