Snap to Cut 16% of Workforce, Targeting $500 Million Savings Amid AI Push
Snap will lay off about 1,000 employees, or 16% of its workforce, as part of a cost-cutting plan tied to AI-driven efficiency and profitability goals.
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Snap will lay off about 1,000 employees, or 16% of its workforce, as part of a cost-cutting plan tied to AI-driven efficiency and profitability goals.
Allbirds shares skyrocketed after the struggling footwear brand announced a pivot to AI infrastructure, signaling a dramatic shift in its business model.
Federal Reserve nominee Kevin Warsh revealed over $100 million in assets, including stakes in crypto and tech ventures, raising questions about potential policy implications.
Novo Nordisk has partnered with OpenAI to enhance its drug discovery efforts using advanced AI tools, aiming to accelerate identification of new treatments.
Amazon agreed to acquire Globalstar to strengthen its low Earth orbit satellite network and accelerate direct-to-device connectivity. The move intensifies competition with SpaceX’s Starlink.
Alibaba confirmed it is behind a viral AI video model topping global leaderboards. The reveal highlights its growing role in the AI race.
Amazon reported AI-related cloud revenue above $15 billion and said its chip business now exceeds $20 billion annually. The update highlights growing momentum in its infrastructure strategy.
Meta Platforms shares rose 7% after unveiling its new AI model Muse. The launch signals renewed momentum in the company’s artificial intelligence strategy.
SpaceX is targeting a valuation of more than $2 trillion in its upcoming IPO, according to reports. The listing could become the largest in stock market history.
OpenAI has raised $122 billion in a record-breaking funding round to accelerate AI development. The deal comes as expectations grow for a future public offering.
SpaceX has reportedly filed confidentially for an IPO, with a potential listing as early as June. The move could kick off a wave of major tech offerings.
Eli Lilly will pay up to $2.75 billion to bring AI-developed drugs from Insilico Medicine to market. The deal highlights growing momentum in AI-driven drug discovery.
Alphabet shares could rise as much as 40% as Google strengthens its position in artificial intelligence, according to Wells Fargo. Analysts cite improving monetization and AI leadership potential.
OpenAI is shutting down its Sora video generation model, citing undisclosed reasons. Reports suggest the product may have been costing up to $15 million per day to operate.
SpaceX is preparing to file for an initial public offering as soon as this week, with reports suggesting a potential raise of over $75 billion. The listing could become one of the largest IPOs in history.