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The Latest Breaking News from Fortune

Sam Altman says the quiet part out loud, confirming some companies are ‘AI washing’ by blaming unrelated layoffs on the technology

Some economists are warning there’s no sign of AI-related job displacement appearing in the labor data. Altman claimed it’s just a matter of time until it does.

Fortune

Bill Gates is shrinking his $132 million Xanadu compound amid sudden public withdrawal and Epstein revelations

Melinda French Gates told Fortune in 2008 that parts of the property were “a bachelor’s dream and a bride’s nightmare.”

Fortune

Walmart exec says it’s ‘unfortunate’ that other companies are slashing workforces in the name of AI—it’s offering training to 1.6 million workers instead

Trillion-dollar retail giant Walmart says it’s not using AI to slash headcount. Instead, it’s providing workers with free access to Google AI training.

Fortune

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MacKenzie Scott’s historic $20 million donation to a community college is now mired in controversy amid ongoing investigation

Santa Barbara City College’s board of trustees has launched an internal investigation over an unauthorized use of Scott’s donation.

Fortune

Trump’s tariffs are a ‘dirty tax’ that will make the $38.6 trillion national debt crisis even worse over the long term, top analyst says

“The idea that this is pro-American is actually just the opposite,” Wharton’s Kent Smetters told Fortune. “It hurts American manufacturers.”

Fortune

From mom-and-pops to Goldman Sachs, Jesse Jackson’s vision for American business sparked a revolution

The civil rights leader, whose dealmaking skills pushed Wall Street to invest in minority-owned businesses, died on Tuesday.

Fortune

Exclusive: Just 5% of workers have this skill, according to Google, and they’re 4.5 times as likely to have a higher salary

The C-suite is pushing for AI productivity gains, but less than half of all workers are using the technology—or getting the proper training, according to a new Google report.

Fortune

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More CFOs are getting the top job—but can they keep it?

AI is now the wildcard for both reaching the CEO role and staying there.

Fortune

Exclusive: Badge raises $17 million to chase the next era of digital wallets

Badge has raised $17.1 million in funding, Fortune has exclusively learned. The company’s backers include Stripe.

Fortune

This Fortune 500 CEO says 'lean manufacturing'—Toyota's famous management philosophy—is a prerequisite for leveraging AI

Also: All the news and watercooler chat from Fortune.

Fortune

Bill Gates has pulled out of India’s AI summit amid questions over his ties to Jeffrey Epstein

The Microsoft founder’s abrupt withdrawal, amid renewed scrutiny over his ties to Jeffrey Epstein, capped a chaotic few days for an event already dogged by cancellations, a robot scandal, and traffic gridlock.

Fortune

Deutsche Bank asked AI how it was planning to destroy jobs. And the robot answered

It’s like looking into a crystal ball, or being told by your predator exactly how you’ll be consumed.

Fortune

Buffalo Wild Wings wins legal debate after a customer discovered his boneless wings contained no real wing meat at all

A judge ruled in favor of Buffalo Wild Wings for a March 2023 case, saying the customer’s argument “has no meat on its bones.”

Fortune

Shocked Zillow CEO says even senior hires don’t do their homework for interviews: ‘They’re asking pretty basic questions that you could answer in 10 minutes on Google’

Zillow CEO Jeremy Wacksman says it “still surprises” him when executive-level candidates haven’t done their homework.

Fortune

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OpenAI is paying workers $1.5 million in stock-based compensation on average, the highest of any tech startup in history

The AI talent war is pushing ChatGPT creator OpenAI to give out millions in equity compensation to its 4,000 employees. Meanwhile, its boss, Sam Altman, has zero equity and just a $76K salary.

Fortune

Exclusive: Bain and Greylock bet $42 million that AI agents can finally fix cybersecurity’s messiest bottleneck

Cogent Security boasts an all-star AI team—and is promising to close the gap between finding software flaws and actually fixing them.

Fortune

Exclusive: Sen. Bill Frist’s Frist Cressey Ventures raises $425 million fourth fund

Frist Cressey Ventures has raised its $425 million fourth fund, Fortune has exclusively learned.

Fortune

Trump is ‘dumb as a fox,’ master of ‘the wall of sound,’ and never above ‘the last resort of scoundrels’: Yale scholar breaks it down in new book

“We know from mythology and science across centuries and cultures that even foxes can get outfoxed on occasion,” Yale’s Jeffrey Sonnenfeld told Fortune.

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Fortune

Goldman Sachs scraps DEI criteria for its board as the business case for boardroom diversity only grows more compelling

Also: All the news and watercooler chat from Fortune.

Fortune

Unicorn CEO on the disaster of $1.3 trillion of credit card debt, an all-time high: His fintech wouldn't exist if 'banks had done a better job'

Still, despite everything, the French-American CEO Renaud Laplanche told Fortune, there's a certain unkillable "optimism" to the American consumer.

Fortune

YouTuber Logan Paul cashes in $16.5 million for his rare Pokémon card—more than even he expected. And it proves his point about 'armchair quarterbacks yelling from the sidelines

Social media mogul Logan Paul just set a world record for the most expensive trading card ever sold. He earned a 200% return on his initial investment.

Fortune

As boomer and Gen X bosses retire, working from home will make a major comeback, new research predicts

A new study of 8,000 workers confirms that Gen Z CEOs are set to bring back working from home as they take over—turning today’s office mandates into a temporary blip.

Fortune

Exclusive: Crypto venture firm Dragonfly closes $650 million fourth fund—even as blockchain VCs face ‘mass extinction’

An inside look at the fast-rising firm, from its early Polymarket bet to its mysterious founding partner.

Fortune

Big Tech approaches ‘red flag’ moment: AI capex is so great hyperscalers could go cash flow negative, Evercore warns

“Capex too hot right now,” Bank of America tells clients.

Fortune

New U.S. legislation could upend credit card loyalty programs. The Points Guy founder calls the reckoning un-American

Also: All the news and watercooler chat from Fortune.

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