France has initiated a criminal investigation into Elon Musk's X, focusing on alleged algorithm manipulation for foreign interference. The probe, led by the national gendarmerie and overseen by the Paris prosecutor's office, will examine X as a legal entity and specific individuals. The investigation will center on potential offenses such as altering system operations and fraudulent data extraction. This action follows contributions from French researchers and public institutions. Earlier, an initial probe was launched after reports from a cybersecurity manager and a member of parliament, Éric Bothorel. Bothorel has voiced concerns about information bias on X, potentially influenced by Elon Musk's political views, and criticized X's AI chatbot, Grok, for questionable content. The Paris prosecutor is also involved in prosecutions related to BreachForums and an investigation into Telegram and its CEO, Pavel Durov.

France has initiated a criminal investigation into Elon Musk's X, focusing on alleged algorithm manipulation for foreign interference. The national gendarmerie is handling the investigation, prompted by concerns over potential offenses such as alteration of operation and fraudulent data extraction.

The investigation follows initial probes and reports from a French public institution official and a member of parliament, Éric Bothorel, who expressed concerns about information bias on the X platform and its potential use for political manipulation.

Bothorel also criticized the Grok AI chatbot for displaying questionable content. The European Commission is also addressing antisemitic narratives from Grok with X. The Paris prosecutor is also overseeing investigations into Telegram and its CEO, Pavel Durov, for alleged facilitation of criminal activity.

Goldman Sachs is piloting Cognition's AI coding agent, Devin, aiming to augment its developer workforce. CIO Marco Argenti announced plans to roll out hundreds, potentially thousands, of Devin instances, referring to it as a 'new employee.' Despite some initial criticisms regarding complex coding tasks, Devin, now on version 2.1, is expected to improve developer productivity in a 'hybrid' workforce model. The bank, known for its adoption of cutting-edge technology, already utilizes developer copilots internally.

Medium CEO Tony Stubblebine detailed the platform's journey to profitability, achieved since August of last year. The turnaround involved significant product changes, investor restructuring, renegotiated loans, cost-cutting measures, and layoffs. The company was previously losing $2.6 million per month and facing dwindling subscribers and funding.

Key strategies included introducing Boost for human expertise in recommendations, changing Partner Program incentives, and adding a Featuring tool for publications. Financially, Medium renegotiated loans, eliminated liquidation preferences, and simplified governance. The company also sold off acquisitions and reduced its workforce from 250 to 77 employees.

Stubblebine emphasized the importance of investor restructuring, which involved diluting investor stakes and relinquishing special rights. The platform also cut cloud costs through engineering optimization and exited an expensive office lease in San Francisco. While Medium's valuation is now considerably lower than its previous $600 million, the company is focused on maintaining profitability.

This week's startup news includes Figma's potential $1.5 billion IPO, opinions on serial moonlighter Soham Parekh, and Cluely's ARR doubling to $7 million. Brex is embracing messiness to procure AI tools. Stripe's first employee acquired a bank.

Funding news includes Revolut seeking a $65 billion valuation, SpaceX potentially raising $250 million, and Lovable aiming for a $2 billion valuation. LangChain may become a unicorn. Rivian spinoff Also raised $200 million, Terra CO2 secured $124 million, and Genesis AI launched with $105 million seed funding. Huspy closed a $59 million Series B, Tulum Energy raised $27 million, Qedma raised $26 million, Tailor raised $22 million, Darkstar completed a $17.5 million first close, and Phosphor Capital will invest in Y Combinator companies.

The data industry is consolidating due to AI, with Salesforce acquiring Informatica.

Bitcoin has reached a new all-time high of $118,900, surpassing its previous record of $113,822. This surge marks a significant recovery from its low of around $76,000 in early April and nearly $49,000 last August. Analysts speculate that reaching $150,000 could trigger a buying frenzy. The rise is attributed to factors like President Trump's pro-crypto stance, which has attracted substantial institutional investment, driven by the expectation of cryptocurrencies playing a bigger role in finance. In March, Trump signed an executive order establishing a strategic Bitcoin reserve.