Lastest IT news

Lucid Motors reduces its workforce by 18% as the new CEO eliminates the second production shift.

Lucid is laying off 1,500 employees and removing its second factory shift, just four months after a previous 12% reduction, as new CEO Silvio Napoli undertakes a restructuring of the electric vehicle manufacturer.

OpenAI's minimal balance sheet encounters a challenging prospect for an IPO.

OpenAI holds no debt and has only $46 million in quarterly capital expenditures. As it approaches its IPO, this seemingly pristine balance sheet is raising questions rather than supporting the pitch.

OpenAI's lean balance sheet presents challenges for a potential IPO.

OpenAI has no debt and only $46 million in quarterly capital expenditures. As it approaches its IPO, that remarkably tidy balance sheet is raising questions rather than serving as a selling point.

SpaceX launches its first sale of investment-grade bonds.

A few days following its historic IPO, SpaceX is securing a minimum of $20 billion through its initial investment-grade bond sale to finance a significant expansion of its AI data center.

SpaceX launches its first sale of investment-grade bonds.

Just days after its record-breaking IPO, SpaceX is set to raise at least $20 billion through its inaugural investment-grade bond sale to finance a significant expansion of its AI data center.

UPS allocates $48 million towards cold chain development in response to the increasing demand for biologics.

UPS is enhancing 27 temperature-sensitive freight hubs across three continents in response to the increasing demand for biologics and GLP-1 medications, which is fueling growth in the pharmaceutical cold chain industry.

UPS allocates $48 million to cold chain investments amid the rise in biologics.

UPS is enhancing 27 temperature-controlled freight centers across three continents due to the rising demand for biologics and GLP-1 medications, which is fueling a boom in the pharmaceutical cold chain market.

Germany informs Trump: no moon landing without European technology.

Germany's space minister has stated that NASA's Artemis missions rely on hardware manufactured in Germany, amid an escalating transatlantic technology sovereignty conflict.

Germany informs Trump: no moon landing without European technology.

Germany's space minister has stated that NASA's Artemis missions rely on equipment manufactured in Germany, amidst an increasing transatlantic technology sovereignty conflict.

Meta acquires a stake in Cred and appoints a new head for WhatsApp.

Meta is putting $900 million into India's Cred for approximately a 20% ownership, and appointing founder Kunal Shah as the new head of WhatsApp, taking over from Will Cathcart.

Ireland assumes the EU presidency amid tensions with Big Tech.

Ireland will take on the EU Council presidency starting 1 July, with the responsibility of negotiating tech sovereignty agreements, even as Apple and Microsoft contribute 40% of its corporate tax.

JD.com plans to replace its 700,000 delivery couriers with robots.

Richard Liu, the founder of JD.com, stated that the company's robots will eventually replace its 700,000 couriers, but he promises to provide retraining for them.

Lime IPO: Uber supports the scooter company's market launch.

The Lime IPO is valued at as much as $180.9 million, with its long-term supporter Uber poised to anchor the offering at an estimated valuation of around $1.8 billion.

Lime IPO: Uber plays a key role in the scooter company's market launch.

The Lime IPO is priced at a maximum of $180.9 million, with Uber, a longstanding supporter, expected to anchor the deal at approximately a $1.8 billion valuation.

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