Core Viewpoint - Block is reducing its workforce by nearly half, from over 10,000 employees to just under 6,000, which means over 4,000 employees will be affected [1][2] Company Actions - The decision to cut jobs was made to address a significant shift in the company's operational model, rather than due to financial distress [4][5] - Employees affected will receive a severance package that includes 20 weeks of salary plus one week for each year of tenure, equity vested through the end of May, six months of healthcare, corporate devices, and $5,000 for transition support [3] Business Performance - Despite the layoffs, the company reports strong business performance with growing gross profit, an increasing customer base, and improving profitability [4] Strategic Direction - The company is embracing a new way of working that leverages intelligence tools and smaller, flatter teams, which is seen as essential for future growth [4][5] - The CEO emphasized the importance of taking decisive action now rather than managing a prolonged reduction in workforce, which could harm morale and trust [5] Communication and Support - The company plans to maintain open communication channels for employees during the transition and will host a live video session to acknowledge the contributions of those leaving [7] - The CEO expressed gratitude towards departing employees, recognizing their contributions to the company [8]

Paramount Skydance may finally have the upper hand on Netflix in the bidding war for Warner Bros. Discovery. The WBD board announced on Thursday afternoon that it believes Paramount's offer to buy the entire company for $31 per share is better than Netflix's proposal to buy its studio and HBO assets for $27.75 per share.This story will be updated. ...

Walmart is set to pay about $16 million to Spark drivers as part of a larger settlement over claims that it misled workers about pay and tips. The Federal Trade Commission said on Thursday that Walmart agreed to a $100 million settlement over claims that the big-box retailer told Spark drivers they would earn more in base pay than they actually did. The FTC also said Walmart misled drivers "by falsely claiming that 100% of customer tips would actually go to drivers."Part of the proposed settlement includes ...

Core Idea - CoreWeave is leveraging Nvidia's financial strength to secure financing for its data center buildout, which is crucial for its AI infrastructure expansion [1][3][4] Financing Arrangements - CoreWeave will use Nvidia as a guarantor for its lease payments to facilitate financing for data centers [1][3] - This arrangement is similar to a recent guarantee made by Google for a partner's data center financing [2][14] - Nvidia has already invested billions in CoreWeave, including a recent purchase of $2 billion in stock and a commitment to buy up to $6.3 billion of computing capacity if needed [3][4] Financial Projections - CoreWeave is expected to spend over $30 billion on capital expenditures by 2026, more than double its anticipated spending in 2025 [9] - The company reported a backlog of contracted revenue amounting to $55.6 billion, which will be realized as it builds and delivers AI facilities [17] Market Sentiment - Recent developments regarding Nvidia's support have shifted investor sentiment positively towards CoreWeave, which had previously been low [10] - CoreWeave's stock experienced volatility, dropping by as much as 12% before rebounding after news of financing efforts [11] Operational Updates - CoreWeave is currently constructing a $4 billion data center in Lancaster, Pennsylvania, which is reported to be fully funded and on schedule [12] - The company aims to end 2025 with 850 megawatts of operating data center facilities, up from 590 megawatts at the end of Q3 [16] Credit Rating and Debt - CoreWeave's debt is projected to grow to $38 billion by the end of 2026, with current debt reported at approximately $14 billion [16] - The company's credit rating is currently below investment grade at B+, but successful scaling and realization of contracted revenue could improve this rating [18][19]

Marc Benioff isn't buying into the software apocalypse. Speaking on the company's Q4 earnings call on Wednesday, the Salesforce CEO downplayed fears that AI would wipe out software-as-a-service companies."If there is a 'SaaSpocalypse', it may be eaten by the 'SaaS-quatch' because there are a lot of companies using a lot of SaaS because it just got better with agents," Benioff said on the call. Fears of a SaaS AI wipeout have risen in recent weeks after Anthropic rolled out new agentic AI tools, hitting soft ...

Core Viewpoint - Nvidia is in a precarious position regarding its microchip supply obligations, which could lead to significant financial repercussions if demand for AI products declines, as highlighted by investor Michael Burry [1][5]. Group 1: Supply Obligations and Financial Risks - Nvidia's purchase obligations surged from approximately $16 billion to $95 billion over 12 months, driven by TSMC's demand for longer contracts and upfront cash [2]. - The company's total supply obligations of $117 billion are nearly equivalent to its operating cash flow for the year ending January 25, indicating a tight financial situation [2]. - Burry emphasizes that Nvidia's current strategy of locking in supply chain capacity is unprecedented and poses substantial risks [2][4]. Group 2: Historical Comparisons and Market Dynamics - Burry draws parallels between Nvidia's situation and Cisco during the dot-com bubble, where Cisco faced severe losses after overcommitting to supply chain obligations amid a sudden drop in IT spending [3]. - The high profit margins Nvidia currently enjoys are attributed to strong demand, but these margins could diminish if demand weakens, increasing the company's vulnerability [4]. Group 3: Market Performance and Investor Sentiment - Despite a 65% increase in revenue and net income over the past year, Nvidia's stock fell nearly 3% recently, reflecting investor concerns [7]. - Nvidia's stock has decreased by 8% from its all-time highs in October but remains over 13 times higher since the beginning of 2023, maintaining its status as the world's most valuable public company with a market capitalization of $4.6 trillion [8].

Core Insights - Nvidia's annual report for this year is significantly leaner, omitting key sections on climate change and diversity compared to last year's report [1][2] - The company reported strong fiscal year 2026 earnings, with revenue of $68.1 billion, a 73% year-over-year increase, and profits of approximately $43 billion, up 94% from the previous year [7] Sustainability and Governance - The 2025 section on "sustainability and governance," which previously included commitments to clean energy and emissions, is absent in this year's report [1] - Sustainability is mentioned only in the context of business sustainability and compliance with related laws [1] Human Capital and Diversity - The human capital section has been significantly reduced, with previous subheadings on compensation, benefits, and diversity omitted this year [2] - Diversity is mentioned only in a single line regarding employee feedback systems, with no detailed discussion on diversity initiatives [3][4] China Market Focus - The report highlights the impact of U.S. government chip export restrictions on China, stating that Nvidia cannot deliver competitive products to the Chinese data center market [5] - The company acknowledges that this situation allows competitors to build larger customer bases globally, which could adversely affect Nvidia's business [6] Financial Performance - Nvidia's fiscal year 2026 earnings exceeded expectations, driven by strong demand for AI data center products, resulting in a notable increase in both revenue and profits [7]

Core Viewpoint - Nvidia's recent earnings report highlights its strong position in the AI sector, surpassing Wall Street expectations and indicating sustained momentum in the AI boom [1][2]. Group 1: Nvidia's Role in AI - Nvidia is positioning itself as the backbone of the AI industry, with significant partnerships, including a multibillion-dollar deal with OpenAI and collaborations with Meta [3][4]. - The company aims to ensure that all forms of AI, from large language models to robotics, are built on its platform, capitalizing on the new computing era [4]. Group 2: Future Developments - Nvidia is integrating Groq's low-latency AI inference technology into its architecture, with more details expected at the upcoming GTC conference [5][6]. - Early samples of the next-generation Vera Rubin chips have been shipped, with broader shipments anticipated in the second half of 2026, promising significant performance improvements over the current Blackwell model [8][9]. Group 3: Strategic Investments and Partnerships - Nvidia is close to finalizing a deal with OpenAI, part of a larger AI infrastructure initiative potentially worth $100 billion, aimed at strengthening the AI ecosystem [13][15]. - The company's strategy involves investing in AI firms like Anthropic and OpenAI to ensure that future software and hardware developments are built on Nvidia's platform [14].

Uber riders can hail a car, motorbike, or boat, depending on where they are in the world. Soon, helicopter-like air taxis will join that list. Passengers will be able to book an air taxi ride through the Uber app in Dubai before the end of 2026, the company said on Wednesday. The option will use flying electric vehicles created by startup Joby Aviation.Joby's aircraft can fit up to four passengers and are flown by commercial pilots, the companies said. Joby will operate four landing locations, or "vertiport ...

British automaker Aston Martin said it's cutting up to 20% of its workforce as it battles supply chain chaos caused by President Donald Trump's shifting tariff policy. The company, which is known for its sleek supercars favored by James Bond, said in its Wednesday earnings report that it expects operating expenditure and capex savings of about £40 million ($54 million) from the cuts. Trump imposed a 25% tariff on car imports last April, adding export costs to the supercars hand-made in Aston Martin's UK fac ...