Plus: Google plans to expand its investment in Anthropic. And Thrive Capital’s new strategy includes taking a stake in the San Francisco Giants. Julie Chang hosts.
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[00:00:00] [SPEAKER_00] If you want to know what a university is for, look to the work. At the University of Michigan, that work looks like physicians destroying cancer with sound instead of scalpels, designers bringing braille into the digital world, and researchers detecting PFAS before they reach your tap. That's what the defining research university is for, serving the public good. For all of us, look to Michigan. See more solutions at umich.edu.
[00:00:31] [SPEAKER_01] Here's your afternoon TNB Tech Minute for Friday, April 24. I'm Julie Chang for The Wall Street Journal. We exclusively report that Ford Motor and Chinese automaker Geely held talks this year about a potential U.S. tie-up. But those discussions have stalled. People familiar with the discussion say the companies are now focused on a deal to share technology and manufacturing capacity in Europe. Geely is China's second largest automaker behind BYD.
[00:00:58] [SPEAKER_01] It's eager to expand in the profitable U.S. market, but faces major hurdles to doing so. Chinese automakers are effectively banned and face high tariffs. A Ford spokesman said a U.S. deal with a Chinese automaker contradicts its commitment to protecting its home market. A Geely spokeswoman declined to comment on rumors or speculation regarding potential partnerships. Google plans to invest up to $40 billion in additional capital in Anthropic.
[00:01:25] [SPEAKER_01] A spokesperson for the AI company said Google will invest $10 billion now at its $350 billion valuation, with up to $30 billion more if the company meets certain performance milestones. Anthropic recently secured up to $65 billion in new funding commitments as it competes with OpenAI ahead of a potential IPO.
[00:01:46] [SPEAKER_01] And Thrive Capital, a venture capital firm known for high-tech bets, which has backed the likes of Instagram, Wiz, Databricks, and OpenAI, is acquiring a stake in the San Francisco Giants baseball team. Thrive, founded by Joshua Kushner, the brother of President Trump's son-in-law Jared Kushner, is making this investment as part of a new strategy called Thrive Eternal. It's focused on long-term investments in franchises and cultural institutions that can't be replicated by AI.
[00:02:16] [SPEAKER_01] Former Disney CEO Bob Iger, who the journal reported recently rejoined Thrive in an advisory capacity, will help with the new effort. And that's your TMB Tech Minutes. Check back Monday morning for another Quick Tech Update.
[00:02:54] [SPEAKER_02] CrowdStrike. We stop breaches.