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After donating $8 billion, Steve and Connie Ballmer create three regional philanthropies so people closest to the work can decide how the money is spent

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U.S. Treasury is paying $3 billion a day in interest on national debt, says the CBO—having spent $10 billion to prop up the currency of its top lender

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Google cofounder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

1

After donating $8 billion, Steve and Connie Ballmer create three regional philanthropies so people closest to the work can decide how the money is spent

2

U.S. Treasury is paying $3 billion a day in interest on national debt, says the CBO—having spent $10 billion to prop up the currency of its top lender

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Google cofounder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses
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Donald Trump speaks into a microphone.
Nearly a dozen firms are already paying up to $100,000 per month for early access Trump’s Truth Social posts

The release of Truth API has raised concerns about insider trading among economists and legal experts.

By Sasha RogelbergAugust 12, 2026
CIOs and CTOs spent years lauding AI. Now, with costs rising, they’re putting limits on how it’s used
CIOs and CTOs spent years lauding AI. Now, with costs rising, they’re putting limits on how it’s used
By John KellAugust 12, 2026
Nvidia CEO Jensen Huang
Nvidia found a new way to keep the AI boom funded: your retirement money
By Eva RoytburgAugust 12, 2026
Nicolai Tangen, chief executive officer of Norges Bank Investment Management.
Norway $2.3 trillion fund posts best quarter since 2020
By Bloomberg and Heidi Taksdal SkjesethAugust 12, 2026
photo of Sam Altman
Sam Altman thinks working at Goldman Sachs ‘sounds unbelievably terrible now’ and admits he was ‘peer pressured’ into accepting an internship there 
By Mia Osmonbekov and Catherina GioinoAugust 12, 2026
Michael Saylor with a cheek microphone, wearing a black suit, and wearing a Bitcoin pin.
Billionaire Michael Saylor says Elon Musk is wrong about AI making money irrelevant: ‘Everybody doesn’t get their own private jet’
By Preston ForeAugust 12, 2026
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Big Tech
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Phoebe Gates knew Phia shopping app took credit for sales it didn’t drive

The feature drove about 51% of Phia’s June merchandise value and was disabled only after Bloomberg’s July inquiry, despite publicly claiming a bug

By Bloomberg, Olivia Solon, Priyanjana Bengani and Jeff KaoAugust 12, 2026
Norway oil fund CEO says he’s more nervous after record returns

Norway’s $2.3 trillion fund posted a record $150 billion first-half gain, but CEO Nicolai Tangen says AI valuations and geopolitics worry him more.

By Heidi Taksdal Skjeseth and BloombergAugust 12, 2026
Meet Google DeepMind’s chief AI exec—she started out detasseling corn in Indiana for around $1 an hour at 14: ‘I grew up in really humble beginnings’

Google DeepMind’s Lila Ibrahim had no AI pedigree—she started out with a $1 cornfield job, immigrant parents, and a habit of taking risks others missed.

By Orianna Rosa RoyleAugust 12, 2026
AI giants are quiet on climate in sign of post-ESG Wall Street

OpenAI, Anthropic and SpaceX haven’t disclosed greenhouse gas emissions or set net-zero goals, even as California’s SB253 law nears enforcement.

By Olivia Raimonde, Summer Maxwell and BloombergAugust 12, 2026
More in Big Tech
Startups & Venture
More in Startups & Venture
‘Call Her Daddy’ host Alex Cooper raises money at a $500 million valuation
‘Call Her Daddy’ host Alex Cooper raises money at a $500 million valuation

Alex Cooper’s Unwell has received an investment valuing the ‘Call Her Daddy’ host’s media company at $500 million.

By Lucas Shaw and BloombergAugust 12, 2026
87.5% of venture dollars went to AI. The rest fought over scraps

PitchBook’s Q2 valuations data shows a market split in two.

By Allie GarfinkleAugust 12, 2026
CoreWeave CEO Michael Intrator cites ‘sold out’ capacity as revenue more than doubles and backlog swells to $104 billion

The neocloud provider said revenue more than doubled in the second quarter, while backlog rose 246% year-over-year to $104.2 billion.

By Amanda GerutAugust 11, 2026
Forget the gala, these Silicon Valley schools run their own venture capital funds

A handful of elite Bay Area schools have enlisted parent-donors from Sequoia, Lightspeed, and Battery to steer small pools of donated capital into early-stage startups. With massive IPOs back en vogue, schools are lining up for what could come next.

By Amanda GerutAugust 12, 2026
More in Startups & Venture
AI
More in AI
Students walk past the Trustee's Gate on George Washington University's campus.
Universities are buying and selling property for data centers, prompting concerns about an AI brain drain

The George Washington University recently sold its Virginia campus to Amazon, and The University of Michigan proposed a new $1.2 billion data center development.

By Joshua HongAugust 12, 2026
Meet ChatTJB, the ‘AI’ chatbot with no AI, no algorithm and no LLM. It’s just one guy and the 10,000 people who volunteered to type back

There’s no AI behind ChatTJB, just a former Google employee and soon, more than 10,000 volunteers answering strangers’ questions in his place.

By Tatiana SatauaAugust 12, 2026
Anthropic to start embedding invisible watermarks in Claude’s AI-generated text—as the industry scrambles to police AI slop

New models will embed an invisible, machine-readable signal in AI-generated text, part of an industry-wide push to distinguish human writing from AI output.

By Beatrice NolanAugust 11, 2026
When OpenAI employees have a problem, they email this special address to see if Sam Altman will solve it immediately

From office parking issues to technical roadblocks, the friction@openai.com inbox is a way for senior leadership to get direct visibility into on-the-ground issues and eliminate ‘big company bulls**t’

By Emily ForliniAugust 11, 2026
More in AI
Innovation
More in Innovation
photo illustration of the Eli Lilly logo on a box of the new Foundayo weight loss oral pill.
Lilly escalates its fight against black market weight-loss shots

Knockoff versions of the company’s weight-loss drug raise concerns, citing a “public health crisis.”

By Bloomberg and Madison MullerAugust 12, 2026
Current price of Ethereum for August 12, 2026

Ethereum isn’t just digital money; it’s a decentralized computing platform, meaning users can build and run apps on it without oversight of a company or bank.

By Joseph HostetlerAugust 12, 2026
Vietnam aerospace company to send satellites aboard Elon Musk’s SpaceX rideshare mission

VinSpace, the year-old satellite arm of Vietnam’s biggest private company, will launch its first satellites on a 2027 SpaceX rideshare mission.

By Aniruddha Ghosal and The Associated PressAugust 11, 2026
The Gulf’s AI boom is driving the race to control the data highways

The Gulf’s AI ambitions are spurring governments and telecom giants to invest in building out the cables, fiber networks and data centers that will determine who controls the region’s increasingly valuable flows of data.

By Melissa HancockAugust 12, 2026
More in Innovation
Cybersecurity
More in Cybersecurity
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Trump blames the military for the Air Force One subterfuge and claims he wasn’t really scared. ‘I get a lot of threats’

Officials have gone to great lengths to keep presidents safe on covert trips before, but not like this, according to experts.

By The Associated Press and Will WeissertAugust 12, 2026
Exclusive: Corma raises $60 million from Sequoia for AI trained to defend against cyberattacks

The startup is exiting stealth mode after deploying its first model six weeks ago.

By Emily ForliniAugust 10, 2026
AI labs shouldn’t be allowed to grade their own homework

We know about AI labs’ hacking failures only because the companies involved chose to tell us. 

By Andrew Freedman and Gillian HadfieldAugust 8, 2026
Why the latest Bitcoin hack hurt more than most

The theft of $100 million from Coldcard hardware wallet owners stands out because it hurt people who did everything right.

By Jeff John RobertsAugust 10, 2026
More in Cybersecurity
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Success
After donating $8 billion, Steve and Connie Ballmer create three regional philanthropies so people closest to the work can decide how the money is spentplaceholder alt text
By Sydney LakeAugust 11, 2026
Economy
U.S. Treasury is paying $3 billion a day in interest on national debt, says the CBO—having spent $10 billion to prop up the currency of its top lenderplaceholder alt text
By Eleanor PringleAugust 11, 2026
North America
Google cofounder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he losesplaceholder alt text
By Sasha RogelbergAugust 11, 2026
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