OpenAI has launched GPT-5.5 Instant and said ChatGPT's default model delivers tighter answers that are more accurate. "GPT‑5.5 Instant produced 52.5% fewer hallucinated claims than GPT‑5.3 Instant on high-stakes prompts covering areas like medicine, law, and finance," said OpenAI.
Teradata reported first quarter earnings of $335 million on revenue of $444 million, up 6% from a year ago, courtesy of a $480 million payment from SAP to settle a long-running lawsuit. After accounting for legal fees and litigation expenses, Teradata netted $359 million.
On a per-share basis, Teradata's first quarter earnings were $3.47 a share with non-GAAP earnings, which exclude the SAP payment, of 88 cents a share. CEO Steve McMillan said the company is on track and its context, governance and industry knowledge for enterprises is critical to deploy agentic AI.
As for the outlook, Teradata projected second quarter revenue growth of negative 2% to 4%. Non-GAAP earnings will be 53 cents a share to 57 cents a share.
PayPal reported its first quarter results, but most of the attention on the earnings call will revolve around new CEO Enrique Lores’ plans. In a nutshell, PayPal is looking to leverage AI to save money and use the savings to fund transformation. PayPal also reorganized to separate Venmo into its own unit. Two key slides.
IBM is kicking off its Think 2026 conference in Boston. I’ll be following up later and our analysts are there. In the meantime, here’s what IBM announced. The announcements revolve around creating an AI operating model.
Anthropic Co-founder Jack Clark argued in his Import AI newsletter that there's a 60% or better chance that an AI system will be powerful enough to build its own successor by 2029.
Clark said he has come to his opinion reluctantly because of the implications, but automated AI R&D is on the way.
GameStop made a $55.5 billion unsolicited offer to buy eBay and the big plan appears to be to cut the marketing budget. You can tell that few are taking GameStop's $125 a share for eBay seriously because eBay shares were last trading at $110.
You can find the not-so-flashy offer at GameStop Investor Relations.
Sierra, a customer experience company led by Bret Taylor, said it raised $950 million in venture funding at a valuation of $15 billion. The round was led by Tiger Global and GV.
The Center for AI Standards and Innovation (CAISI) evaluated the open-weight AI model DeepSeek V4 Pro and found it lags frontier models by about 8 months.
CAISI, a unit of NIST, has a full report, but the most notable comparison is cost. After all, a model that lags frontier models by 8 months may be just swell for most use cases.
"CAISI selected a U.S. reference model by filtering out U.S. models that performed significantly worse on public benchmarks or that cost significantly more per token than DeepSeek V4 Pro. The only model meeting these criteria was GPT-5.4 mini, which was selected as a point of reference. In CAISI’s aggregated capability analysis, GPT-5.4 mini receives an Elo score of 749, which is similar to DeepSeek V4 Pro’s score of 800.
DeepSeek V4 costs less than GPT-5.4 mini on 5 out of 7 CAISI benchmarks."
Ever since Microsoft reported its fiscal third quarter earnings I've been stuck on one word: Eval-max. Eval-max? What?!?
Microsoft CEO Satya Nadella said the following (emphasis mine):
"It was a record third quarter powered by the continued strength of Microsoft Cloud, which exceeded $54 billion in revenue, up 29% year-over-year. Our AI business surpassed $37 billion ARR, up 123%. We are at the beginning of one of the most consequential platform shifts that will change the entire tech stack as agents proliferate and become the dominant workload. This will drive TAM expansion and change the value creation equation across the entire economy. To capture this opportunity, we are executing against 2 priorities. First, we are building the world's leading cloud and AI infrastructure for agentic computing era. Second, we are building high-value agentic systems across core domains such as productivity, coding and security. These 2 layers reinforce each other, and we are focused on driving competitive value and differentiation for customers across each so that they can eval-max their outcomes."
Max could become the new "super." All you have to do is attach it to every word and you'll sound ___. I'll leave the blank to you.
Earnings to know after the bell.
Qualcomm shares surged on its first quarter earnings report based on potential data center and AI inference momentum.
In the you can't make this up department, OpenAI outlined how GPT-5.1 and later models became fascinated with goblins, gremlins and other creatures. The short version is that OpenAI created a "nerdy" persona that ran with the goblin and gremlin theme.
