TikTok is reportedly testing a new feature that would allow users to send peer-to-peer payments within direct messages. This system would leverage TikTok Pay, a payment service currently available in Southeast Asia for transactions on TikTok Shop.
Jane Street has adopted Etched's first deployed AI cluster system and was so impressed that it spurred a significant new funding round, according to the startup.
In conversations with professionals across industries, I've noticed a common misunderstanding: AI isn't a single entity but a fusion of two distinct systems—predictive and reasoning-driven. Predictive AI analyzes historical data to detect patterns, excelling in areas like credit risk assessment. Meanwhile, generative AI handles synthesis and interpretation, translating complex data into clear insights. Together, these systems outperform those relying on just one approach. Importantly, generative AI shouldn’t be tasked with high-stakes decisions on its own without supporting predictive infrastructure, as that can lead to unreliable results. The power lies in combining prediction, reasoning, and human judgment to create systems that enhance decision-making. For example, lending benefits from deterministic scoring by machine learning coupled with generative AI’s ability to interpret and explore those results, helping humans focus on strategic and complex decisions. The future belongs to organizations integrating these intelligences to make people more effective, rather than seeking full automation.
In July, the Crunchbase Unicorn Board welcomed 40 new companies, marking the highest monthly figure in over four years. Three of these newcomers were valued above $10 billion, known as decacorns. Key sectors leading this surge included financial services, robotics, AI orchestration, multimodal AI, energy, and semiconductors. The combined value added by new unicorns exceeded $100 billion monthly over the past two months. The U.S. led with 19 new unicorns, followed by China with eight, and several other countries contributing fewer entries. Notably, 15 of the new unicorns are under three years old, while seven are over a decade. This year’s pace is accelerating, with 195 new unicorns in the first half alone, surpassing 2025's total.
OpenAI's finance chief, Sarah Friar, informed shareholders that the company's enterprise division now brings in more revenue than its consumer ChatGPT services, reaching an annual run rate of $40 billion. This milestone was achieved months earlier than anticipated and marks a significant increase from the previous year's figures. The growth highlights a shift in OpenAI's business model, with more income coming from enterprise clients than individual ChatGPT subscribers.
SpaceX has officially completed its $60 billion acquisition of Cursor, as confirmed in a recent regulatory filing. Bloomberg reporters Carmen Arroyo and Natasha Mascarenhas covered the deal closure. The acquisition was initially disclosed in June when SpaceX filed an 8-K form, indicating the transaction was expected to finalize in the third quarter pending regulatory approval. The required approvals have now been granted, aligning with the timeline set forth in the filing. Notably, Cursor made a purchase of another company just a day before the deal closed, highlighting its active expansion.
Workday recently announced a €175 million investment in Dublin, aiming to create 200 new jobs as part of its growth strategy. Meanwhile, reports suggest that Silver Lake is in discussions to acquire Workday, signaling potential shifts in the tech landscape.
PayPal is actively engaged in talks to potentially sell the company to payment processor Stripe and private equity firm Advent. These discussions come as the fintech company's new CEO aims to revitalize and strategically reposition the business for growth.
Anissa Gardizy reported for The Wall Street Journal on August 14 that Nvidia has significantly reduced its financial backing for a major 10GW project with OpenAI. Under the updated proposal, Nvidia would initially fund only half of the project and reserve the option to commit further later. A formal agreement might be finalized as soon as this weekend. This adjustment reflects Nvidia’s strategic decision to address evolving circumstances.
The French tax authority, Direction générale des Finances publiques, revealed that an attacker accessed data related to 678,000 people and companies during break-ins in June and July. The agency only became aware that the data had been compromised when the attacker disclosed it in August. Details on exactly what information was accessed were outlined in an official statement by the agency.
