Patreon lays off 20% of its workforce
Patreon is laying off 93 employees, 20% of its workforce, as CEO Jack Conte cites the need to adjust the company's cost structure rather than a shift toward replacing staff with AI.
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462 storiesTesla's robotaxi fleet covered fewer miles in the second quarter
Tesla's paid Robotaxi rides covered roughly 700,000 miles in the second quarter, down about 36% from roughly 1.1 million in the first quarter.
IBM insists AI isn't killing the mainframe after a rough quarter
IBM's second-quarter earnings fell well short of Wall Street's expectations, dragged down by a 42% drop in mainframe revenue, but executives insist the pullback is temporary rather than a sign that AI is killing the decades-old business.
Google's cloud boom is easing investor worry over AI spending
Alphabet's Google Cloud revenue jumped 82% year-over-year to $24.8 billion in the latest quarter, beating Wall Street's expectations and giving the company a stronger case for its heavy AI spending.
Tesla delays Cybercab, Semi and Megapack volume production
Tesla no longer expects its Cybercab, Tesla Semi and Megapack 3 energy-storage system to reach "volume production" in 2026, according to its second-quarter shareholder letter.
Monday.com cuts 630 jobs, about 20% of staff, to double down on AI
Israeli workplace software maker Monday.com is laying off about 630 employees, roughly 20% of its headcount, as part of a restructuring to refocus investment around its AI Work Platform.
Index Ventures co-founder predicts a coming wealth redistribution
Neil Rimer, a co-founder of Index Ventures, says AI wealth concentration will trigger redistribution — voluntary or, he warns, involuntary.
AI memory crunch drives India's smartphone shipments down 10%
Rising memory-chip costs tied to AI demand pushed India's smartphone shipments down 10% in the April-June quarter — the steepest June-quarter decline in six years, Counterpoint Research said.
SpaceX aborts second Starship V3 launch as engines fail to start
SpaceX aborted its second Starship V3 launch attempt moments after ignition on Thursday, after some engines failed to start, and won't try again until next week.
BP shuts down its venture arm after 20 years
BP is selling more than 10 companies from its venture portfolio to Nordic private equity firm Verdane, according to the company, deepening its retreat from clean energy investing.
Microsoft reportedly trains sales team to talk down AI rivals
Microsoft is reportedly training its sales team to negatively compare AI products from partners OpenAI and Anthropic to its own in-house models.
SpaceX stock slips to $135 IPO price ahead of Starship test
SpaceX shares fell to just above $135 on Wednesday — the price set at its blockbuster June 12 IPO — a month into a steady decline.
SpaceX stock falls below $135 IPO price
SpaceX shares fell below their $135 IPO price on Wednesday afternoon, dropping to beneath $133 per share ahead of a Starship test launch on Thursday.
Anthropic and Blackstone launch $1.5B AI venture Ode
Anthropic and Blackstone have launched Ode, a $1.5-billion joint venture focused on deploying AI models directly inside enterprise operations.
Fusion startup Realta chooses Wisconsin for new research facility
Realta Fusion will build its R&D facility in Wisconsin, backed by an estimated $55 million in state and local incentives.
Anthropic faces backlash over unsettling new advertisement
Anthropic's new advertisement, "There's hope in hard questions," has drawn widespread criticism and mockery from rivals for its unsettling imagery and dark, existential tone.
Lucid Motors denies bankruptcy rumors after stock plunge
Lucid Motors denied rumors that it is considering Chapter 11 bankruptcy protection, calling the reports false after its stock suffered its biggest intra-day drop ever.
DeepSeek reportedly in talks to raise $1.5B before IPO
DeepSeek is reportedly in talks to raise around $1.5 billion at about a $71 billion valuation before a 2027 IPO that could arrive as early as this year, per Bloomberg.
Meta may cap engineer AI token budgets as costs rise
Meta may soon cap employees' AI token spend after costs put it on track for billions of dollars in 2026, mirroring budget crackdowns at Uber and Microsoft.
General Fusion debuts on Nasdaq as first public fusion company
General Fusion has debuted on the Nasdaq as the first publicly traded fusion power company, with its stock rallying 40% on its first day.