Sources: OpenAI expects its revenue to grow to $11.6B in 2025; ChatGPT has 10M paying users and could bring in $2.7B in revenue in 2024, up from $700M in 2023 (Reuters)

Reuters:
Sources: OpenAI expects its revenue to grow to $11.6B in 2025; ChatGPT has 10M paying users and could bring in $2.7B in revenue in 2024, up from $700M in 2023  —  Thrive Capital is investing more than $1 billion of OpenAI's current $6.5 billion fundraising round, and it has a sweetener …

SEMI: China is projected to invest $100B+ on chipmaking equipment from 2025 to 2027, followed by South Korea at $81B, Taiwan at $75B, and the Americas at $63B (Toby Sterling/Reuters)

Toby Sterling / Reuters:
SEMI: China is projected to invest $100B+ on chipmaking equipment from 2025 to 2027, followed by South Korea at $81B, Taiwan at $75B, and the Americas at $63B  —  Semiconductor manufacturers will spend a record $400 billion on computer chip-making equipment in 2025-2027 …

Chinese state media has embraced the success of Black Myth: Wukong, a Chinese AAA game that has sold 20M+ copies globally, hailing it as a soft power export (Lizzi C. Lee/Rest of World)

Lizzi C. Lee / Rest of World:
Chinese state media has embraced the success of Black Myth: Wukong, a Chinese AAA game that has sold 20M+ copies globally, hailing it as a soft power export  —  China is changing its long-critical stance thanks to the smash hit, according to Chinese game developers and industry analysts.

The UK CMA rules that Amazon's $4B Anthropic deal does not qualify for an investigation under merger laws as Anthropic's UK revenue did not meet needed limits (Katharine Gemmell/Bloomberg)

Katharine Gemmell / Bloomberg:
The UK CMA rules that Amazon's $4B Anthropic deal does not qualify for an investigation under merger laws as Anthropic's UK revenue did not meet needed limits  —  The Competition and Markets Authority said Friday that the tie-up did not qualify for an investigation under merger laws.

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 (Vishal Chawla/The Block)

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.

Current and former staff say OpenAI has rushed product announcements and safety testing, lost its lead over rivals, and Altman is detached from the day-to-day (Deepa Seetharaman/Wall Street Journal)

Deepa Seetharaman / Wall Street Journal:
Current and former staff say OpenAI has rushed product announcements and safety testing, lost its lead over rivals, and Altman is detached from the day-to-day  —  Executives and researchers have left this year amid disputes over the company's values and fights among its leaders

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

An interview with Rabbit founder Jesse Lyu on the Rabbit R1 on criticism of the AI device, bad reviews, and more; Lyu says ~5,000 people now use the R1 daily (Liz Stinson/Fast Company)

Liz Stinson / Fast Company:
An interview with Rabbit founder Jesse Lyu on the Rabbit R1 on criticism of the AI device, bad reviews, and more; Lyu says ~5,000 people now use the R1 daily  —  In a frank conversation at the Fast Company Innovation Festival, Ammunition's Robert Brunner and Rabbit's Jesse Lyu unpacked AI hardware's slow start.

NOYB files a privacy complaint against Mozilla with the Austrian data protection authority, accusing the Firefox maker of tracking users without consent (Supantha Mukherjee/Reuters)

Supantha Mukherjee / Reuters:
NOYB files a privacy complaint against Mozilla with the Austrian data protection authority, accusing the Firefox maker of tracking users without consent  —  Vienna-based advocacy group NOYB on Wednesday said it has filed a complaint with the Austrian data protection authority against Mozilla accusing …

Raspberry Pi reports H1 2024 revenue up 61% YoY to $144M, gross profit up 47% YoY to $34.2M, and unit volume up 31% YoY to 3.66M; RPI jumps 5%+ pre-market (Stephanie Stacey/Financial Times)

Stephanie Stacey / Financial Times:
Raspberry Pi reports H1 2024 revenue up 61% YoY to $144M, gross profit up 47% YoY to $34.2M, and unit volume up 31% YoY to 3.66M; RPI jumps 5%+ pre-market  —  Shares rise after UK microcomputer maker publishes first earnings report since June IPO  —  Shares in Raspberry Pi jumped on Tuesday …

Similarweb: daily X users in the UK fell from 8M in May 2023 to 5.6M now, with 33%+ of the fall coming after the summer riots; US DAUs fell by ~20% in that time (Jemima Kelly/Financial Times)

Jemima Kelly / Financial Times:
Similarweb: daily X users in the UK fell from 8M in May 2023 to 5.6M now, with 33%+ of the fall coming after the summer riots; US DAUs fell by ~20% in that time  —  The great migration from Elon Musk's X has seen users, especially progressives, retreat into one particular silo

A profile of SoftBank's Masayoshi Son, who transformed the Japanese tech conglomerate into a global investment group and is criticized for high-risk investments (Lionel Barber/Financial Times)

Lionel Barber / Financial Times:
A profile of SoftBank's Masayoshi Son, who transformed the Japanese tech conglomerate into a global investment group and is criticized for high-risk investments  —  He has won and lost fortunes with his bets on technology.  So is the investor a visionary — or a gambler who got lucky?

Law enforcement agencies shut down a service offered by iServer, a phishing-as-a-service platform, which was used to unlock 1.2M+ stolen or lost mobile phones (Dan Goodin/Ars Technica)

Dan Goodin / Ars Technica:
Law enforcement agencies shut down a service offered by iServer, a phishing-as-a-service platform, which was used to unlock 1.2M+ stolen or lost mobile phones  —  iServer provided a simple service for phishing credentials to unlock phones.  —  A coalition of law-enforcement agencies …

Thoughts on the iPhone's slowing pace of hardware innovation, first impressions of the iPhone 16 Pro Max, and a closer look at Apple Intelligence roll out plans (Mark Gurman/Bloomberg)

Mark Gurman / Bloomberg:
Thoughts on the iPhone's slowing pace of hardware innovation, first impressions of the iPhone 16 Pro Max, and a closer look at Apple Intelligence roll out plans  —  The new iPhone has tantalizing camera improvements, but the device is emblematic of Apple's slower pace of hardware innovation.

With the Ray-Ban Meta smart glasses, which can easily slot into people's lives, Meta has exceeded expectations in a year when many AI gadgets flopped (Victoria Song/The Verge)

Victoria Song / The Verge:
With the Ray-Ban Meta smart glasses, which can easily slot into people's lives, Meta has exceeded expectations in a year when many AI gadgets flopped  —  The Ray-Ban Meta smart glasses exceeded expectations in a year when AI gadgets flopped.  But can it keep the momentum going?