Society & jobs

AITechnology stocks fell after the Financial Times reported that OpenAI told investors its annualized revenue is approaching $50 billion, well below the $68 billion widely reported two months earlier. An anonymous source said the earlier figure included gross revenue from partners while the new one is net revenue. The Nasdaq fell 1.25%, with Oracle down 5.5%, Intel down 5.3%, and Nvidia down 2.9%. OpenAI's most recent valuation is $852 billion, and it now plans a 2027 IPO rather than 2026.

Why it matters: The article explains how a gross-versus-net revenue distinction behind the reported figures moved AI stocks, linking OpenAI's valuation to its IPO plans.

AIAndreessen Horowitz (a16z) says it led General Medicine's $120M Series B round. General Medicine aims to combine patient history, clinical guidance, transparent pricing, and access to care in one experience, with a catalog of over 2,900 products and services. The company also plans to offer the same infrastructure to health systems, payors, and pharmacies.

AIVariety reports that AI Studio Authors First is backed by $10 million and pledges to help writers faithfully adapt their books. The post links to the full Variety article, which contains further details.

AIAir Street Capital has led a $40 million Series A round in Jack & Jill, with Madrona joining and existing investors Creandum and Entrepreneurs First investing again. The company runs Jack, an AI agent that talks with job seekers about career moves and searches millions of job postings, and Jill, a recruiting agent that introduces candidates to hiring managers. Jack & Jill has arranged 25,000 interviews and plans 5,000 more each month, according to the article.