Sources: AI sales and marketing startup Clay is raising a round led by Wellington at a $7B pre-money valuation, up from $5B via an employee tender in January (Lucinda Shen/Axios)

Clay, an AI-driven sales and marketing startup, is raising a new round led by Wellington that values it at $7 billion pre-money, up from $5 billion after an employee tender in January. Apple announced Phil Schiller’s departure from App Store and product-event duties, while Tim Cook’s farewell memo named John Ternus as his successor. The FTC, with 22 state attorneys general, sued Amazon for allegedly overcharging advertisers more than $20 billion since 2019. The EU classified ChatGPT, Reddit and Roblox as very large online platforms after each exceeded 45 million monthly EU users. Nvidia pledged $3.5 billion in convertible-bond investments in MediaTek, which forecasts about $2 billion in AI-chip revenue this year.