Other notable news includes Rivian spinning out its skunkworks project into a new company called Also, with $105 million in funding. Apple announced its Worldwide Developers Conference 2025 for June 9, hinting at significant software updates. DNA testing company 23andMe filed for bankruptcy, and its CEO Anne Wojcicki plans to bid independently for the company. Kat Abughazaleh, a former Media Matters employee, is running for Congress after being laid off. SpaceX reportedly allowed Chinese investors to buy shares through offshore hubs, and Nintendo announced Virtual Game Cards for the upcoming Switch 2. The launch of ChatGPT's new image generator sparked copyright concerns over AI-generated content, particularly regarding Studio Ghibli's art style.
Key takeaways:
- xAI acquired X in an all-stock transaction, valuing xAI at $80 billion and X at $33 billion.
- 11x, backed by a16z and Benchmark, allegedly manipulated growth and churn numbers internally.
- Trevor Milton, founder of Nikola Corp., was pardoned by President Trump after Nikola filed for bankruptcy.
- 23andMe filed for bankruptcy, and co-founder Anne Wojcicki plans to become an independent bidder for the company.