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The Latest Breaking News from Fortune

As OpenAI restructures, Microsoft locks in long-term gains

OpenAI has become a public benefit corporation, giving Microsoft a 27% stake and long-term access to research methods

Fortune

Meet the billionaires spending over six figures to stop Zohran Mamdani from becoming New York's next mayor, from Michael Bloomberg to Bill Ackman

A reported 26 billionaires and rich families have spent at least $100,000 to support independent candidate Andrew Cuomo.

Fortune

The U.S. just bet $1 billion that AI supercomputers can turn most cancers from ‘death sentences’ to ‘manageable conditions’ within 8 years

Chris Wright says the supercomputers will also allow the U.S. to “re-create the center of the sun on Earth” given how they benefit fusion energy research.

Fortune

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Trump media firm dives into red hot prediction markets with Crypto.com

Prediction contracts will be available on the social media site Truth Social, allowing users to bet on elections and sports, among other events.

Fortune

Elon Musk’s ‘polarizing and partisan actions’ may have cost Tesla more than 1 million U.S. EV sales, Yale study finds

“The easiest thing to say is, don’t antagonize your core customers,” Yale economist and study author Kenneth Gillingham said.

Fortune

Elon Musk's 'Grokipedia' cites Wikipedia as a source, even though it's the exact thing he's trying to replace because he thinks it's 'woke'

Musk has previously said xAI’s Grok chatbot removes “falsehoods” in sources of information like Wikipedia pages.

Fortune

OpenAI completes for-profit restructuring and grants Microsoft a 27% stake in the company

The restructuring ends years of capital constraints for OpenAI, and grants Microsoft long-term technology access and new AGI rights under the updated deal.

Fortune

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Investor Cathie Wood predicts a ‘shudder’ in Big Tech valuations, saying higher rates may test investor faith

“The way algorithms work these days, we think that there will be a reality check,” said Wood.

Fortune

As Gen Z faces the white collar freeze in hiring, law and business school applications are soaring

Gen Z is rushing back to the classroom to dodge AI disruption as law-school applications have jumped 33% compared to this time last year.

Fortune

Wealthy family in New Jersey posts tutoring job for $264,000 a year—complete with 45 days vacation and a guesthouse

The private tutor must have expertise in the U.S. curriculum, an “easygoing” personality, and a “good sense of humor.”

Fortune

International laws need to be updated for a ‘machine-governed economic system,’ says CEO of stablecoin giant Circle

Jeremy Allaire said at the Fortune Global Forum that the rise of technologies like AI and crypto will prompt governments to craft new legislation for corporations over the next 10 years.

Fortune

Chegg's CEO once said he's the 'poster child' for AI shock. Now, the company is slashing 45% of staff

The edtech pioneer cuts 388 jobs and brings back Dan Rosensweig as CEO, underscoring how generative AI and shrinking Google traffic are reshaping student learning—and testing Chegg’s turnaround bet.

Fortune

Bill Gates says a ‘doomsday’ outlook on climate is driving people to focus on the wrong things

“If given a choice between eradicating malaria and a tenth of a degree increase in warming, I’ll let the temperature go up,” Gates said.

Fortune

From transactional to transformational: Four strategies for donors to drive lasting impact

I’ve spent over two decades helping nonprofits and families turn generosity into lasting change. Here are four ways donors can meet this moment.

Fortune

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Fortune

How employee ownership can uplift Gen Z's labor force

The newest generation of American workers feels unheard in the places that depend most on their ideas and energy.

Fortune

AI stock valuations aren’t wrong—they’re just not right ... yet, says JPMorgan assets boss

“The question is, How fast will we grow into those multiples?” JPMorgan’s Mary Callahan Erdoes told an audience at the Fortune Global Forum.

Fortune

Michael Dell’s son aims to transform the home power business by selling electricity and batteries like a Costco membership

Base Power just completed a $1 billion fundraising round and is building a Texas battery factory.

Fortune

Former SpaceX and X employees raise $9 million for Standard Economics, a platform for the unbanked

“Their vision is to bring about Starlink for money,” said Caitlin Pintavorn, a partner at Paradigm.

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Fortune

Google’s Ruth Porat: To unlock AI’s upside, rethink every process

"I think we are living in an extraordinary time," Porat said at the Fortune Global Forum.

Fortune

Gen Zers are using AI to skip meetings, get promoted faster and win bigger salary hikes. But they don't feel great about it

While AI note-taking saves workers hours each week and drives faster promotions, the same young employees worry that their dependence on the tech could one day make them obsolete.

Fortune

With two new funds to trumpet, Sequoia's Roelof Botha opens up about the state of the VC market—and about the firm's controversial partner

The managing partner of Silicon Valley's storied VC firm had a lot of news to discuss in his appearance at a San Francisco startup conference.

Fortune

Netflix and Amazon Prime are using AI algorithms that hide content from some users, media executive says

“The larger problem comes in distribution and the use of algo when content is being shown,” Reliance Industries media president Jyoti Deshpande said.

Fortune

Ray Dalio is guided by gratitude: Why CEOs need to find their codifying principles

Also: All the news and watercooler chat from Fortune.

Fortune

The Gen Z job crisis is real: 1.2 million recent grads in the U.K. competed for just 17,000 open roles

Rob Breare, CEO of independent U.K. school system Malvern College International, said at Fortune’s Global Forum that AI is upending the job hunt as we know it, forcing Gen Z to ask their colleges for help.

Fortune

Reddit cofounder once walked away with $10 million—He returned and helped lead the company to a $40 billion market cap today

Before Reddit became a $41 billion giant, its founders sold it for just $10 million.

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