Paramount Skydance just "emerged victorious" reports Reuters, "from a legal battle over its $110 billion acquisition of Warner Bros Discovery" that will "dramatically concentrate power across Hollywood's film, TV, streaming and news businesses."

The victory comes "after settling with a California-led group of US states and a Hollywood writers union, paving the way for one of the largest media mergers in history." Paramount agreed to abide by temporary film quotas and a news oversight committee, avoiding a forced sale of cable assets such as CNN or any of its lucrative film franchises... The Writers Guild of America settled its parallel case against Paramount, while saying it still believes the deal will damage the industry. The states' settlement forced the union to "contend with the reality of forging ahead alone, with no backing from government enforcers" in a complex case that would have cost millions of dollars...

Paramount promised in the state settlement to bring more film production to the US — spending at least $300 million more each year in domestic production — and adhere to US theatrical release quotas for five years. The company will produce 30 movies in each of the first two years of the deal, and 32 movies in each of the following three years, Bonta said. Each year, at least four of those films must be independent films and at least 20% must be blockbusters. If it falls below that threshold, it will pay $30 million per film, most of it into funds to support workers. Paramount also promised not to raise rates on theater operators for three years.
The article notes that California attorney general Rob Bonta still said "I don't think these two companies should merge" at a press conference announcing the settlement, "but that's not something that we are focused on with our resolution here." He call their agreement "a strong antitrust outcome."

And Politico notes that Bonta acknowledged at the press conference that "Some of you who may be watching this may have wanted a different outcome. I understand that." But he argued he'd reached a settlement capable of "providing more film production that protects Hollywood workers and their livelihoods, that places guardrails allowing for robust cable negotiations, that protects competition and creates more choice for consumers about what this merger could mean for the industry." It "resolves the antitrust concerns at the heart of our lawsuit against the company and Warner Brothers," he said...

The agreement came as a disappointment to opponents of the transaction, including the Block the Merger Coalition, which cast the settlement as a sweetheart deal for Paramount Chief Executive David Ellison and his father, Oracle Co-Founder Larry Ellison, who is financially backstopping the acquisition. "This is a bad deal for the future of film, entertainment, independent journalism, and a strong democracy in this country," the coalition said in a statement. "We are disappointed and angry that the interests of average Americans have been trampled to benefit oligarch billionaires....."

The $111 billion deal allows Paramount to combine its namesake streaming service with HBO Max, creating a new offering with about 200 million subscribers. That would help Paramount compete against companies such as Netflix, which boasts more than 325 million subscribers worldwide.

"Billionaire Bill Ackman's life was upended this February when his 26-year-old daughter collapsed in her Brooklyn apartment, suffering a brain hemorrhage that would render her unable to move, speak or see," writes the Washingon Post. But then... The hedge fund manager did what any good father would do — at least, any father with vast financial resources and what friends describe as a "Mr. Fix-It" tendency. He sprung into action, getting her topline care at New York City's Mt. Sinai Hospital and consulting a network of well-connected friends all over the world. He helped her access a novel cell therapy that has been gaining traction among longevity enthusiasts, who are seeking ways to prolong human life. And then — motivated by a newfound desire to accelerate scientific research — he vowed to spend more than $400 million to launch an institute dedicated to longevity and brain health... He posted this week that the U.S. Food and Drug Administration, in May, gave his daughter Lucy's medical team a first-time emergency authorization to transplant mitochondria — the energy-producing part of human cells — from her leg muscle to her eyes, in the hopes that the tiny cell powerhouses would facilitate healing in her optic nerves and perhaps even restore her vision.

Ackman's story highlights the increasingly prominent role of the ultra-wealthy in making expensive medical bets on longevity treatments and other novel therapies, altering the direction of research as federal funding for science declines in the second Trump administration. But his saga is a deeply personal one, spurred by his daughter's medical crisis. The focus on longevity by Ackman, who made billions on Wall Street as a hedge fund manager, is aligned with similarly ambitious efforts from some of Silicon Valley's biggest names. OpenAI CEO Sam Altman has backed Retro Biosciences, a start-up whose goal is to add 10 healthy years to the human lifespan through cellular reprogramming. Amazon founder Jeff Bezos is reportedly a funder of Altos Labs, which focuses on cellular rejuvenation and resilience... Billionaire investor Peter Thiel, Google co-founder Sergey Brin and Oracle co-founder Larry Ellison are also deeply invested in life-extension methods and attempts to rewrite the biology of aging...

The therapy given to Ackman's daughter Lucy, known as mitochondrial transplantation, is of great interest not only to people who have suffered injuries, but to longevity-focused scientists who believe that mitochondria may hold promise for reversing some of the effects of aging... In recent years, scientists have discovered that mitochondria have many other functions beyond converting food into energy. They serve as clearinghouses for damaged cells, opening up the possibility that they can help with cell regeneration and healing, said Daria Mochly-Rosen, professor of chemical and systems biology at the Stanford University School of Medicine and co-author of " The Life Machines: How Taking Care of Your Mitochondria Can Transform Your Health."

"I am one of those who believes that focusing on mitochondrial health is a way to address many human diseases, including aging itself," she said. "It's exciting."

Less than a year ago he was the #1 richest man in the world. 10 weeks ago he was #2. But yesterday Larry Ellison dropped to #8, Forbes reports, falling behind Nvidia CEO Jensen Huang.

Ellison's net worth is now estimated at just $192.6 billion — after a $104 billion decline: Shares of Oracle plunged roughly 54% between hitting a high of just over $250 on June 1 to a low of $114.50 on July 28, though the stock rebounded slightly to $150.52 as of Friday.

A decline followed Oracle telling investors it expected to raise $40 billion through debt and equity financing, with capital expenditures surging 162% to $55.7 billion and spending expected to top $95 billion by fiscal 2027. Jacob Bourne, an analyst at eMarketer, told Reuters there are broader concerns about how Oracle would fund its capital spending to match its revenue projections, and Bank of America analysts separately flagged in a note cautioning that more than 50% of Oracle's remaining performance obligation comes from OpenAI. Melius Research analysts wrote last month that Oracle's spending plans may not hold if OpenAI or Anthropic demands more computing capacity. S&P Global also downgraded Oracle's credit rating in July, arguing the firm's "rapidly expanding" AI infrastructure business could pay off, but may be too expensive and could weaken Oracle's financial position in the meantime.

$443 billion. That's how much Oracle's market valuation has dropped since peaking at $877.1 billion in September, hitting $433.5 billion as of Friday... Oracle, once viewed as a potential winner of the booming AI infrastructure buildout, has since raised concerns among investors who appear to view the firm as taking on too much financial risk to fund its projects. Wall Street has cautioned that mega-cap tech firms may be taking on too much spending to match growing demand for AI products, with firms like Amazon expecting to spend more than $200 billion. Oracle's backlog has exploded to $638 billion, but more than half is reportedly associated with OpenAI, and some analysts have cautioned that most of those funds may not be guaranteed.

Nvidia is working with Wall Street heavyweights on a potential $500 billion financing package for AI infrastructure (source paywalled; alternative source). The consortium includes BlackRock's Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs and KKR. The Financial Times reports: The partnership underscores Nvidia's growing efforts to raise capital for itself and its clients to continue assembling the chips, power production and data centres at the heart of the AI boom. The $5.25 trillion company has positioned itself at the centre of the AI boom, providing chips, infrastructure and software to a wide array of partners developing the technology. Nvidia's graphics processing units, or GPUs, underpin most of the leading US AI models available today.

[...] The biggest cloud-computing companies, including Meta, Oracle, Microsoft, Alphabet and Amazon, have dramatically increased their spending on AI infrastructure as they look to win the race to dominate the emerging technology. Morgan Stanley projects so-called hyperscalers will spend $3.5 trillion between 2026 and 2028. That need for capital has forced technology groups to tap every source of cash they can find, including public equity, investment-grade and high-yield bonds, securitized debt, private credit and project finance markets. "[The] sheer size of the AI infrastructure build-out is unprecedented," Jim Zelter, president of Apollo, said on an earnings call earlier this month. "More than $8 trillion of capital is expected to be invested, a staggering sum. We see an enormous opportunity for private capital to finance a portion of this along with public capital."

The Washington Post shared surprising news this week about five top AI companies.

Microsoft, Google, Amazon, Meta and Oracle "are spending so much on developing AI and delivering it to customers that they're expected to bleed cash in the coming year, according to a Washington Post analysis of data compiled by S&P Global Market Intelligence." Free cash flow, which measures the cash left over after paying expenses and AI infrastructure costs, is now expected to shrink to almost nothing for the five companies combined in 2026, and decline again to negative $125 billion the following year... AI spending by Amazon and Google pushed the companies to an ignominious milestone: They lost more cash in the past three months than any other large U.S. companies, according to S&P Global data. Investment analysts expect Elon Musk's SpaceX to show even worse cash bleeding this week.

The Washington Post looks at giant tech companies "feeding every available dollar into the cash-incinerating maw of AI machines." They warn "Tech superstars that once had oodles of cash left over at the end of each year are now flipping into the red..." [While optimists expect] huge corporate profits and a society-wide boost to wealth and well-being... questions about that AI vision are now growing more urgent: When, if ever, will this payoff arrive? And what will the fallout be for Americans if the titanic investment doesn't quickly deliver? "This AI thing better work out because if it doesn't ... we're going to have a problem," said Torsten Slok, chief economist at investment firm Apollo Global Management. AI costs and doubts are spreading. The U.S. stock market has swooned this summer over fear of the AI bubble going bust...

The AI gamble sweeping up American fortunes is led by tech companies splurging on hulking data centers packed with computer chips and equipment needed to develop sophisticated AI models and deliver them to customers. In investor calls in the past week, Google, Microsoft, Meta and Amazon pointed to soaring AI-related sales and business deals. Advertisers are using the technology to tailor marketing pitches and corporations and start-ups are buying access to chatbots and other AI software to boost productivity... But this spending can only continue if AI generates an even larger avalanche of new revenue to pay for it all. Financial results released over the past week show that the AI titans' mammoth costs are largely swamping the sales boost from the technology. At Google, for every dollar of cash its business generated in the past three months, $1.15 went out the door to pay for AI computer chips and equipment, land for AI data centers and other big-ticket purchases. The company is covering the difference partly by borrowing money and selling more of its stock. Next year, five leading AI companies — Google, Amazon, Microsoft, Meta and Oracle — are projected to have negative free cash flow, which measures the cash left over after paying expenses and AI infrastructure costs. The figures, based on investment analyst projections compiled by S&P Global Market Intelligence, show a stunning reversal for what have been some of the world's most cash-generating corporations...

The companies remain profitable by standard financial accounting measures that spread out the costs of their AI infrastructure spending over many years... Pessimists see a bet so gargantuan that it cannot possibly pay off. The pessimists are growing louder. The Bank for International Settlements, a typically measured institution in Switzerland that advises government bankers around the world, recently warned there was risk of "economy-wide recessions" if the AI boom falters. That could mean pain for workers and communities across the United States. "I'm not saying AI is going to go away, it's just not clear to me these guys are going to make money on it," said Christopher Wood, global head of equity strategy at investment bank Jefferies who has correctly predictedpast financial bubbles.

An anonymous reader quotes a report from Reuters: Nvidia is in talks to provide roughly $250 billion in financing guarantees for OpenAI as part of a massive data center project, the Wall Street Journal reported on Sunday. The backstop from Nvidia would help the ChatGPT maker lease a 10-gigawatt project that SoftBank's energy subsidiary is developing in southern Ohio, the newspaper said, citing people familiar with the matter. For OpenAI, a deal would be the first step toward controlling its own infrastructure instead of renting it from Microsoft, Amazon, and Oracle, while for Nvidia, it would guarantee demand for its chips for years to come.

The project is expected to cost more than $500 billion in total, including the chips inside the data center, according to the WSJ. The $250 billion guarantee covers the data center lease and debt financing, but would not cover the Nvidia chips inside the center, the WSJ said, adding that the chipmaker was also discussing financing OpenAI's chip purchases worth up to $350 billion. Nvidia's backing would support financing vehicles aimed at reassuring lenders about the project's funding, the report added. The first phase of the project is expected to be finished in 2028, with around 800 megawatts of power, the Journal said. The report notes that the U.S. government will control access to the power, while Japan will fund it separately under a trade agreement tied to Tokyo's $33 billion investment in a natural gas plant. Commerce Secretary Howard Lutnick will reportedly help determine who receives access.

Oracle has signed a 10-year Pentagon contract worth up to $7 billion to provide on-premises software, licenses, maintenance, and consulting for branches of the military. CNBC reports: The contract covers the use of Oracle software in on-premises data centers for branches of the military, the U.S. intelligence community and the Coast Guard, according to a statement. The Central Intelligence Agency was Oracle's first customer. A five-year base period for the contract includes perpetual and subscription-based software licenses, maintenance and consulting, according to one description.

Kirsten Davies, the Department of Defense's chief information officer, said in the release that the agency is saving at least $441 million for taxpayers "by fundamentally improving how we procure on-premises Oracle capabilities."

The Washington Post describes a mid-tier executive at Meta as one of Silicon Valley's "winners" whose financial security suddenly "evaporated" as their workforce "pushed headlong into AI and heavy job cuts," creating a transformed job market. "Her ex-husband, a designer at Meta who was laid off in 2020, eventually gave up looking for jobs in his profession. He now lifts boxes at a warehouse." Layoffs.fyi, which tracks announced job cuts, counts more than 800,000 tech workers laid off since 2022, including large staff reductions in recent months at Meta, Microsoft, Oracle and Amazon... "There's this whole tranche of people who've been quite used to being among the most upwardly mobile in society who are all of a sudden saying, 'Now I'm the guy on the streetâs'" said Oliver Raskin, who founded Silicon Valley market research consultancy Signalcraft Insights and has surveyed attitudes in the tech labor force... "The rise of AI, especially, is bound to change the workplace radically," [said Georgetown University historian Joseph McCartin]. "But the way it's going to happen is similar to how technology transformed the auto industry." Ruth Milkman, a labor sociologist at the City University of New York, said that technology workers are getting a dose of what workers in other industries have long complained about: jobs that feel unsteady or rob them of autonomy. "Low-wage workers are used to it," she said...

Many layoffs at technology companies are probably a hangover effect from over-hiring in prior years, experts say. And they don't account for a spotty recent increase in hiring in the information industry, which includes employment of software developers and jobs in media and entertainment. Digging deeper, though, some economists say there are signs that Silicon Valley and other technology-reliant parts of the American economy have reached a turning point where they are growing without needing as many people. The notion was encapsulated in a recent talk that ricocheted through group chats across the tech industry: In it, a partner at the start-up incubator Y Combinator heralded a new generation of AI-first companies that will only need human labor for "novel situations," "ethical considerations" and "high-stakes moments."

Gad Levanon, chief economist at the labor research nonprofit Burning Glass Institute, said that the number of hours worked in the information sector has dipped since 2022, while the sector's economic output has increased by about 8 percent a year — more than three times the overall growth rate of the U.S. economy. He says the data reveals a sea change in industries, including technology and finance, toward doing more work with the same or fewer people — one that is spreading to other professional classes. "That's the new reality for white-collar and tech-exposed work: output up, headcount flat or down," Levanon said...

Raskin, who has worked in the tech world since the late '90s, said that even though the current moment feels unsettling to many, he's hopeful that it's an early chapter in an evolving story. "It's happened many times before," he said, "that something implodes and all these people lose jobs, but then that talent gets cycled into whatever the next thing is — into a new wave of prosperity."
In the article tech entrepreneur Anil Dash quips that Silicon Valley techies are "are guinea pigs for what tech dudes want to do to everyone."

Oracle cut roughly 21,000 jobs over the past year as it reorganized around AI and ramps up spending on data centers for customers such as OpenAI and Meta. The restructuring cost the company about $1.8 billion and, while Oracle says AI deployment may drive further reductions, it also warns the cuts could create skills shortages and hurt productivity. The BBC reports: The software and cloud computing firm says it had around 141,000 full-time employees as of May 31, 2026, down from about 162,000 workers at the same time last year. The "deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," the report says. The cuts, which amount to about 13% of Oracle's workforce, are part of a wider trend among tech firms as they spend hundreds of billions of dollars on building AI infrastructure like data centers.

"Battered by years of mass layoffs, California tech workers were hoping the job market would rebound this year," reports the Los Angeles Times. "But things are getting worse." The class divide is widening in Silicon Valley as a tiny group of employees is landing unprecedented packages for AI skills, while many others struggle to find work. The have-nots are doing everything that used to guarantee great jobs — refreshing resumes, optimizing LinkedIn profiles and doing interviews — but companies are much more picky these days. The tech jobless are rethinking their lives. Some are taking pay cuts, others are leaving tech. Some are going back to study or launch startups. Some have retired....

Since 2022, more than 815,500 tech workers have been laid off, according to Layoffs.fyi, a website that tracks job cuts. The tsunami of pink slips surged in 2023, when companies that had gone on hiring sprees during the COVID-19 pandemic began to cut back. From January to April, U.S. tech employers announced 85,411 job cuts this year, up 33% from the same period last year, according to global outplacement and executive coaching firm Challenger, Gray & Christmas. The Public Policy Institute of California estimates that the number of information jobs — which includes jobs in hard-hit Hollywood as well as tech — tumbled 17% between the middle of 2022 and this February. The San Francisco Bay Area has been hardest hit, the institute said in a recent report, with the number of jobs declining by 0.4%, compared with 7.5% growth over a similar time span before COVID-19 slammed into the U.S. economy.

Tech layoffs are also spilling over into other industries. Automaker General Motors laid off roughly 600 workers in its information technology department, and Walmart is reportedly laying off or relocating roughly 1,000 workers in its technology and products teams. Recruiters say companies have become much more selective, requiring AI skills, combining different positions and interviewing more people for each job. "You're seeing elongated hiring cycles," said Robert Lucido, senior director of strategic advisory at Magnit, a California company that helps tech giants and other businesses manage contractors, freelancers and other contingent workers. "There's more opportunity to fill the need that they truly want."

Paul Flaharty, district president at staffing firm Robert Half in Los Angeles, said companies are laying off workers, but also creating new roles tied to AI initiatives. "For individuals that are displaced, it's really important that they find ways to upskill themselves so that they can make themselves as attractive as possible for these new jobs that are being created," he said. Kira Martins was already taking on more work in a small team at Snap — the parent company of disappearing messaging app Snapchat — when she was laid off in April. The company said the layoffs were to cut costs as it focuses on profitability, noting how employees are using AI to "reduce repetitive work, increase velocity, and better support our community, partners, and advertisers...." Martins, a 36-year-old Los Angeles resident, views AI as a tool and is optimistic about finding her next role. People still need to decide how to use AI and check the work it generates, she said. "In tech, you want to be a first adopter, because if you don't move quickly, it's very easy to become irrelevant," she said. "Everyone's kind of hopping on the AI train."
A former Google worker (laid off more than a year ago) says he's still job hunting, according to the article, and "he's learned it's not enough to just apply in this competitive market. Workers really need to network and leverage their connections to get seen by hiring managers and stand out."

But when 64-year-old product manager Bruce Bowers lost his job at Oracle — along with thousands of others — he just started his retirement early.

ShinyHunters claims it exploited a critical Oracle PeopleSoft zero-day to compromise more than 100 organizations, including the University of Nottingham, where it says it stole 40GB of student and billing data. "ShinyHunters posted the UK university on its data leak site on Tuesday before publishing the stolen files later that same day, presumably because the school refused to pay the extortion demand," reports The Register. From the report: "University of Nottingham on our leak site is one of the first publicly confirmed incidents," a ShinyHunters spokesperson told us. "We have only just started outreach to affected orgs and are actively looking to reach an agreement with affected orgs." They didn't say when they planned to post the other 100 or so claimed victims.

A Google threat intelligence report published Thursday afternoon corroborated ShinyHunters' claims to have compromised more than 100 organizations. Google said it spotted malicious activity, "consistent with the exploitation of CVE-2026-35273," between May 27 and June 9, and notified more than 100 global orgs "whose IP addresses correlated with potentially vulnerable endpoints." Most of these, we're told, are based in the US and 68 percent are in the higher-education sector. Oracle has released a "patch availability document," but it's unclear whether a patch is currently available.

An anonymous reader quotes a report from Reuters: Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in internet culture and amassed a fortune that has made him the world's first trillionaire. At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, Musk has managed to retain a loyal following despite his stratospheric net worth and without the folksy persona that endeared other tycoons such as Warren Buffett to the masses.

While admirers view Musk's no-filter style as part of his appeal, critics have accused him of wielding oligarch-like power, raised concerns about governance at his companies and objected to his increasingly partisan political interventions. Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk's empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. Prior to the share sale, Forbes pegged his net worth at roughly $780 billion, far ahead of the man next in line, Alphabet co-founder Larry Page.

"The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow," said Matt Durot, deputy editor at Forbes Wealth. "And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion." Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.

An anonymous reader quotes a report from ComputerWeekly: Microsoft has issued patches for about 200 flaws in its latest monthly Patch Tuesday drop, blasting past a previous record high of almost 170 common vulnerabilities and exposures (CVEs) set in October 2025. Among a great many others, the latest update from Redmond fixes a total of 32 critical CVEs and three zero-day flaws. Dustin Childs, head of threat awareness at TrendAI's Zero Day Initiative, said: "We are heading into a high-stakes summer for cyber security. June's record-shattering drop ... is a stark warning that AI is supercharging flaw discovery at an uncontrollable scale. The current number of CVEs shipped by Microsoft this year exceeds the total number of CVEs shipped in all of 2018. It is extraordinary that Microsoft can produce so many patches in a single month, and I expect many testers are wondering what quality issues may exist."

And with the addition of hundreds of CVEs in Google Chrome and Microsoft Edge (Chromium) and other third-party flaws taking the total to almost 600, Chris Goettl, vice president of security product management at Ivanti, said talk of a 'Patch Apocalypse' was no longer unwarranted. "We are in the Patch Apocalypse. The Patch Apocalypse is now," said Goettl. "This is not intended to be a scare tactic. It is meant to outline the challenge that many organizations were anticipating, but the new generation of LLMs [Large Language Models] has accelerated significantly in the first half of 2026."

"There are going to be more CVEs resolved by vendors at a faster and more continuous pace than we have ever seen previously. Unfortunately, this will also include more zero-day and n-day exploits than previously seen as well. The window from release from a vendor to exploitation had already shortened to five days as of 2023 threat intelligence data." Goettl said that many suppliers have acknowledged the need to use AI tools in their security research to identify and resolve flaws, with Oracle, Google Chrome and Mozilla all upping the cadence of their updates. Whether or not Microsoft follows suit remains to be seen.

Wix is laying off roughly 20% of its workforce, about 1,000 employees, as CEO Avishai Abrahami cites both the rapid evolution of AI and currency pressure from a stronger Israeli shekel against the dollar. The web developer joins a growing list of tech companies making similar cuts, including Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, Oracle and Intuit. Fast Company reports: "We have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s," [wrote Abrahami]. "This is not just about adopting new tools -- it is about rewiring how companies are built, how they think, how they manage, and how they operate. Companies that embrace this change will not only build faster; they will build things the previous generation literally could not have imagined."

Abrahami also cited the poor exchange rate between the Israeli shekel and the U.S. dollar. The Israeli currency has significantly strengthened in the past few quarters against a weakening dollar, and the shekel is up nearly 30% against the greenback over the last year.

"As the majority of our teams are Israel-based, a very meaningful portion of our costs are shekel-denominated, while our revenue is largely dollar-denominated," Abrahami explained on X. "This creates a structural pressure on our ability to operate at our current scale. It is a reality that directly shapes what is sustainable for our company."

Tech industry layoffs may be worse at large tech companies than the rest of the IT industry. The New York Times argues those layoffs have now shifted the culture at Big Tech companies, after interviewing more than two dozen of their workers. "Cooperation and collegiality are on the wane; chumminess between employees and managers has cooled as mutual suspicion pervades their relationships; and a throbbing economic anxiety infects almost every conversation.

"Perhaps no site on the internet reflects this transformation more vividly than Blind, where users can post in private channels restricted to employees of a single company, or public channels visible to anyone..." Since 2022, large tech companies have collectively laid off more than 150,000 workers, unraveling what many tech workers once perceived as a guarantee of affluence and employability. The threat of being replaced by artificial intelligence has loomed over those who remain. This year alone, Amazon has indicated that it is laying off more than 15,000 workers, Block 4,000, Meta 8,000 and Oracle an estimated 30,000... By most measures, the sentiments that Blind tracks have taken a turn for the worse. During the nearly four years before tech companies began major layoffs in the fall of 2022, Meta and Microsoft employees posted about career success — topics like how to maximize their salary or win promotions — more than four times as often as they posted about job insecurity, according to Blind. Since then, the ratios have lurched in the opposite direction: Meta and Microsoft employees have posted about job insecurity roughly 1.5 times as often as they post about success...

The shift has had practical effects. A Meta employee said in an interview that some workers on her team now used less vacation time and that, in a break with custom, people frequently checked on their projects while on vacation. They increasingly worry about getting a poor performance review or losing their job if they aren't constantly available. The employee, who declined to be identified for fear of retribution, said she and many of her colleagues frequently checked Blind because it could be comforting to see how many other Meta workers shared their anxieties. Employees at several companies said in interviews that their morale was further undermined by the feeling that the layoffs were abrupt and arbitrary, and executed with little empathy.

Several tech workers said it was the scarcity of information about possible layoffs that raised their cortisol levels and made it difficult to focus on their jobs. They often fill the vacuum by turning to Blind, which, in addition to posts by workers, features a "tech layoff tracker" that lists both layoff rumors and those it has confirmed. "I was on Blind five days a week," said Faith Wilkins El, a software engineer who was laid off from Oracle in late March, after more than four years at the company. Wilkins El, who is part of the Oracle Workers Collective, a group seeking better severance agreements with the company, said navigating Blind was sometimes stressful because it was hard to know what was true or false. (Blind says it has a security team to weed out bad actors, like those who may try to register under fake email addresses.) Still, she found it more helpful than not because the layoffs came as less of a shock after she spent time on the site. "I was trying to get prepared mentally," she said.

Blind is capitalizing on the increased interest with new products. It plans to unveil a service called Blind AI, which will allow employers to simulate their workers' reactions to certain changes, like a stricter in-office mandate. And it is close to releasing a feature to alert users that layoffs are imminent.

Intuit is reportedly cutting about 3,000 jobs, or 17% of its workforce, as it restructures around AI and simplifies its corporate organization. TechCrunch reports: The layoffs come during a bad year for the tech workforce. The tech industry has already cut more than 100,000 jobs this year, per Statista, and is on track to outpace both 2024 and 2025 if the layoff trend continues. Companies such as Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle have let go of thousands of employees each, all of them citing a need to refocus expenditures around AI projects as a reason to cut jobs and restructure their organizations. [...]

Intuit, however, hasn't been perceived as a beneficiary of the AI boom, with its shares consistently underperforming in the broader S&P 500 over the past 12 months. The company has been caught up in the broader current of worries that traditional software-as-a-service firms will not be able to keep up or compete, as new and upcoming AI products and services threaten to change how software is developed and how it is used. In its fiscal second quarter ended January, Intuit reported revenue of $4.65 billion, a 17% increase, and net profit of $693 million, a 48% improvement compared to a year earlier. The company expects revenue to increase by about 10% in the third quarter, for which it will report results later today.

Snap is laying off about 1,000 employees, or 16% of its workforce, while closing 300 open roles as it tries to cut costs and push toward profitability with more AI-driven efficiency. "While these changes are necessary to realize Snap's long-term potential, we believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers," CEO Evan Spiegel wrote in a memo, which was included in the company's 8-K filing (PDF). "We have already witnessed small squads leveraging AI tools to drive meaningful progress across several important initiatives." The Verge reports: The changes are expected to save Snap $500 million by the second half of 2026. Snap had about 5,261 full-time employees as of December 2025, and now joins the growing list of tech companies that have already announced significant layoffs this year, including Meta, Amazon, Oracle, GoPro, and Jack Dorsey's Block.

"Last fall, I described Snap as facing a crucible moment, requiring a new way of working that is faster and more efficient, while pivoting towards profitable growth," Spiegel wrote. "Over the past several months, we have carefully reviewed the work required to best serve our community and partners, and made tough choices to prioritize the investments we believe are most likely to create long-term value."

Despite hundreds of billions of dollars in investment, nearly half of planned U.S. data center projects are being delayed or canceled. "One major reason behind these setbacks is the availability of key electrical components -- such as transformers, switchgear, and batteries -- that are used both at data center sites and outside of them," reports Tom's Hardware. "Meanwhile, grid infrastructure is also stressed by electric vehicles and electrified heating systems." Tom's Hardware reports: Approximately 12 gigawatts (12 GW) of data center capacity is expected to come online in the U.S. in 2026, according to data by market intelligence firm Sightline Climate cited by Bloomberg. Yet only about one-third of that capacity is currently under active construction because of various constraints.

Electrical infrastructure represents less than 10% of total data center cost, but it is as vital as compute hardware. A delay in any single element of the power chain can halt the entire project, which makes transformers, switchgear, and similar devices critical items despite their relatively small share of CapEx. Due to high demand, lead times for high-power transformers have expanded dramatically in the U.S.: delivery typically took 24 to 30 months before 2020, but waiting periods can stretch to as long as five years today, according to Sightline Climate cited by Bloomberg. For AI data centers, this is a catastrophe as their deployment cycles are under 18 months.

To address shortages, companies are turning to global markets. As a result, Canada, Mexico, and South Korea became the biggest suppliers of high-power transformers for AI data centers to AI data centers. At the same time, imports of high-power transformers from China surged from fewer than 1,500 units in 2022 to more than 8,000 units in 2025 through October, according to Wood Mackenzie data cited by Bloomberg. The volatility of exports from China does not end with transformers, as the PRC accounts for over 40% of U.S. battery imports, while its share in certain transformer and switchgear categories remains near 30%, according to Bloomberg.

bobthesungeek76036 shares a report from the Register: Oracle laid off thousands of employees on Tuesday as it ramps spending on AI infrastructure projects internally and with major technology partners. The layoffs were carried out via email, according to copies of the message viewed by Business Insider. The email told affected workers they would be terminated immediately and to provide a personal email for follow-up.

The cuts echo a TD Cowen forecast earlier this year, when the investment bank questioned how Oracle would finance its expanding AI datacenter buildout and suggested headcount reductions could reach 20,000 to 30,000. It is not clear how many employees were notified on Tuesday, but one screenshot that purports to show the number of internal Slack users showed a drop of 10,000 overnight.

[...] Oracle employs about 162,000 people, with 58,000 of those in the US and approximately 104,000 internationally. If the rumored cuts of 30,000 are correct, it would amount to 18 percent of the company's workforce. According to posts from Oracle workers on LinkedIn, the cuts were spread through multiple departments around the country, with employees in Kansas, Tennessee, and Texas taking to social media to say they were among those chopped. "This news didn't seem to affect stock price," adds bobthesungeek76036. "ORCL is up 6% for the day."