Are OpenAI and Anthropic actually worth $1 trillion each. Well, soon Wall Street is going to find out. Both companies are courting investors for IPOs at valuations north of $800 billion.People really believed in this AI revolution, and they wanted to put their money to work behind it. The pitch, they're the next Microsoft, the next Google tech giants with pricing power that will last for decades. In the first quarter of this year, we saw if you were to annualize it 80x growth per year.But here's the problem ...

We knew that this was coming. This had been flagged. Bloomberg has reported on it, but this is the day when it happens.So, obviously, on a kind of personal level, a very significant for those employees affected at Meta. And coming just today, and we discussed this yesterday after Meta was looking to shift roles, about 7,000 roles and 7,000 workers into additional and different roles. Now they are starting to implement those previously flagged 8,000 job cuts, as you say, starting in Singapore, and those memo ...

Meta began laying off thousands of employees and reassigning thousands others to AI-focused roles, according to an internal memo and people familiar with the matter https://t.co/pvuLTAFPSm ...

Meta has begun notifying thousands of employees that they’re being laid off, part of a restructuring aimed at improving efficiency and reducing costs while investing heavily in AI. Read more: https://t.co/zXD5SkXpDm📷️: Benjamin Fanjoy/Bloomberg https://t.co/OMrLiUMt6d ...

Meta is alerting thousands of employees that they’re being laid off, part of a restructuring aimed at improving efficiency and reducing costs as the company invests heavily in AI https://t.co/p8kQfMScfT ...