LayoffsMar 25 · 1d agoBloomberg
Meta Platforms Inc. is cutting several hundred jobs as part of a restructuring effort that’s impacting several teams at the company, including sales, recruiting and the Reality La...
Why it matters: Meta is reportedly cutting several hundred jobs across multiple teams, including sales, recruiting, and Reality Labs, while simultaneously investing...
LayoffsMar 18 · Mar 18CNBC Tech
Meta is scaling back its metaverse focus, cutting studios and headcount at Reality Labs to prioritize artificial intelligence.
Why it matters: Meta is reportedly scaling back its metaverse focus, including shutting down Horizon Worlds, to prioritize artificial intelligence.
LayoffsMar 24 · 2d agoBloomberg
The use of artificial intelligence at Norway’s $2.1 trillion wealth fund is improving investment decisions and saving “billions of kroner” in trading costs, but those gains will n...
Why it matters: The CEO of Norway's sovereign wealth fund signaled that AI-driven cost savings in trading and investment decisions will not result in job cuts.
LayoffsMar 19 · Mar 19Bloomberg
Gemini Space Station Inc.’s workforce reduction has reached roughly 30% since the start of the year following layoffs, with the crypto exchange saying Thursday it is deploying art...
Why it matters: Gemini Exchange reportedly reduced its workforce by approximately 30% since the beginning of the year, according to the Winklevosses.
AI NewsMar 20 · 6d agoCNBC Tech
The U.S. government has been trying to crack down on illegal shipments of top-tier Nvidia artificial intelligence chips to China.
Why it matters: U.S. prosecutors are investigating tech executives for allegedly smuggling Nvidia chips to China.
IndustryMar 19 · Mar 19Bloomberg
OpenAI plans to acquire Astral, a startup that makes Python tools for developers, marking the ChatGPT maker’s latest investment in the fast-growing market for coding and developer...
Why it matters: OpenAI is reportedly acquiring Astral, a startup focused on Python developer tools, signaling a continued investment in coding and developer services.
AI NewsMar 12 · Mar 12Bloomberg
Cambricon Technologies Corp. reported its first-ever annual profit after Beijing encouraged China’s leading artificial intelligence developers to adopt locally made chips given re...
Why it matters: Cambricon Technologies Corp. has reported its first annual profit amid a push for Chinese AI developers to use locally made chips, potentially signal...
AI NewsMar 16 · Mar 16Bloomberg
Elon Musk’s artificial intelligence startup xAI is looking to hire bankers and private credit lenders to make its Grok chatbot better at finance strategy, joining rival AI firms i...
Why it matters: xAI is reportedly hiring finance professionals to train its Grok chatbot in financial strategy.
AI NewsMar 25 · 1d agoTechCrunch
Meta CEO Mark Zuckerberg said in a memo to staff that small businesses have always been a big part of the company's business model, and that while tens of millions of entrepreneur...
Why it matters: Meta is launching a new initiative focused on supporting entrepreneurship and driving AI adoption.