Business & Industry
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Sequoia and Accel Raise Combined $12 Billion in Back-to-Back AI Funds as Venture Capital Enters a New Scale Era
Sequoia's $7B and Accel's $5B raises in a single week reflect a structural transformation in venture capital driven by AI's unprecedented capital requirements.
Amazon Commits Up to $25 Billion More in Anthropic, Raising Total Exposure to $33 Billion and Securing a Decade of AWS Infrastructure
Amazon's third major Anthropic investment deepens the two companies' infrastructure partnership, with Anthropic pledging over $100 billion in AWS spending over ten years.
Bezos's Project Prometheus Nears $10 Billion Raise at $38 Billion Valuation as Physical AI Lab Recruits From OpenAI, xAI, Meta and DeepMind
JPMorgan and BlackRock are backing Jeff Bezos's physical AI startup Project Prometheus in a $10 billion round at a $38 billion valuation, his first operational role since leaving Amazon in 2021.
Cursor Is in Talks to Raise $2 Billion at a $50 Billion Valuation, Roughly Doubling Its Worth in Five Months
Anysphere, maker of the Cursor AI coding tool, is negotiating a $2 billion round co-led by Andreessen Horowitz and Thrive Capital with Nvidia participating, nearly doubling its November 2025 valuation.
Tim Cook to Step Down as Apple CEO After 15 Years, With Hardware Chief John Ternus Taking Over September 1
Apple's board unanimously named Senior Vice President of Hardware Engineering John Ternus as CEO effective September 1, 2026, with Tim Cook moving to Executive Chairman after a tenure that grew Apple's market cap from $350 billion to $4 trillion.
Meta to Cut 8,000 Jobs in May as $135 Billion AI Bet Reshapes Its Workforce
Meta plans to eliminate 10% of its global workforce starting May 20, restructuring around AI-driven productivity as it nearly doubles capital spending to $135 billion.
Hermeus Raises $350 Million at a $1 Billion Valuation as It Moves Headquarters to El Segundo
Hermeus closed a $350 million Series C at a $1 billion valuation, combining equity and debt as it shifts prototyping into production and relocates to El Segundo.
Cerebras Files for Nasdaq IPO With $510 Million in 2025 Revenue and a $20 Billion OpenAI Compute Contract in Hand
AI chipmaker Cerebras submitted its S-1 for a CBRS listing on April 17, backed by a $20 billion multi-year OpenAI deal and a swing to profitability, after withdrawing its first IPO attempt over a national security review.
Snap Cuts 1,000 Jobs and Closes 300 Open Roles as AI-Generated Code Reaches 65 Percent and Activist Investor Pushes for Restructuring
Snapchat's parent company eliminates 16 percent of its workforce, citing AI-driven efficiency gains and aiming for over $500 million in annualized savings.
OpenAI Acquires AI Personal Finance Startup Hiro in Acqui-Hire as ChatGPT Pushes Deeper Into Consumer Money Management
OpenAI has acquired Hiro, a five-month-old AI personal finance startup founded by Digit veteran Ethan Bloch, in an acqui-hire that will shut down the product on April 20.
Lucid Names Schindler Veteran Silvio Napoli as CEO and Raises Over $1 Billion as Uber Robotaxi Order Grows to 35,000 Vehicles
Lucid Group has appointed former Schindler chairman Silvio Napoli as chief executive and secured roughly $1.05 billion in new funding from Saudi Arabia's PIF, Uber, and a public offering, while expanding its robotaxi commitment with Uber to 35,000 vehicles.
Q1 2026 Tech Layoffs Hit 80,000 as Nearly Half of All Cuts Are Attributed to AI, but the Real Picture Is More Complicated
The tech industry shed roughly 80,000 jobs in the first quarter of 2026, with companies attributing nearly half to AI automation, but a CFO survey and industry experts suggest the narrative obscures deeper structural forces.