Top stories today:

1. OpenAI partners with DoW on AI deployment after Anthropic fight
2. Paramount to acquire WBD in $111B deal, paying Netflix $2.8B
3. Brent oil +6% to $77/barrel after U.S.-Israel strikes on Iran
4. SpaceX said to weigh confidential IPO filing in Mar., eyes Jun. listing
5. OpenAI raises $110B at $840B backed by Amazon, NVIDIA, SoftBank
6. Billionaire mortality analysis finds ~90% of deaths age-related

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. OpenAI partners with DoW on AI deployment, ties safeguards to existing policy

• Hours after Anthropic was blacklisted by Trump, Sam Altman announced the OpenAI-DoW deal late Fri.

• The deal follows “all lawful use” and includes “mutually agreed” safety mechanisms, Under Secy. Jeremy Lewin said.

• Lewin said OpenAI’s law-based safeguards were acceptable, unlike Anthropic’s company-set limits.

After the DoW labeled Anthropic a supply chain risk on social media, experts assess the fallout

The Pentagon directed to designate Anthropic a “supply-chain risk” by U.S. defense secy. Pete Hegseth:

• OpenAI said Anthropic shouldn’t be labeled a supply chain risk and conveyed that to the Pentagon.

• Anthropic said it would “challenge any supply chain risk designation in court.”

• Workers across Amazon, Google, Microsoft, and OpenAI urge firms to join Anthropic in resisting DoW demands.

• The Pentagon reportedly used Claude in the Iran strike hours after the Anthropic blacklist.

• Claude became the #1 free app in the U.S. App Store Sat. after the DoW’s supply chain risk move.

Amodei said Anthropic is “patriotic” but warned some AI uses could outpace the law and clash with U.S. values

3. Paramount to acquire WBD in $111B deal at $31/share, paying Netflix $2.8B breakup fee

• Q3: deal expected to close.

• $7B regulatory termination fee if the deal fails to close.

• $47B equity commitment backed by the Ellison family and RedBird.

• $54B debt financing from Bank of America, Citigroup, and Apollo.

• Equity may include additional strategic and financial partners, Paramount said.

• Netflix had a preplanned exit strategy, co-CEO Ted Sarandos said.

• The Paramount deal will likely drive ~$16B in cuts and job losses, Sarandos said.

4. Brent oil +6% to $77/barrel after U.S.-Israel strikes on Iran