Latest AI News

OpenAI has publicly disavowed any partnership with Robinhood regarding tokenized versions of its shares. Robinhood recently launched blockchain-based "stock tokens" for over 200 private companies on the Arbitrum blockchain, targeting European users. OpenAI emphasized that these tokens are not actual OpenAI equity, stating that any equity transfer requires their approval, which wasn't granted in this case.

Microsoft announced 9,000 job cuts, impacting nearly 4% of its global workforce. These layoffs are part of a broader restructuring effort to streamline operations and create more agile teams by reducing management layers. This follows previous cuts in January, May, and June 2025, bringing total reductions to over 15,000 positions this year. While not explicitly stated, industry observers note these cuts coincide with Microsoft's increased investment in AI technologies. The layoffs occurred after the fiscal year end on June 30, traditionally a time for operational reassessment.

Tech billionaires including Palmer Luckey, Joe Lonsdale, and Peter Thiel are launching Erebor, a new national bank designed to fill the void left by Silicon Valley Bank's 2023 collapse. Named after the treasure mountain in "The Hobbit," Erebor has applied for a banking charter to serve tech startups, AI companies, defense contractors, and cryptocurrency firms. The bank aims to provide both traditional banking services and virtual currency products, addressing the financial challenges these sectors have faced since SVB's downfall. Erebor must navigate complex regulatory approvals from multiple federal agencies before launch. The initiative represents a significant effort by industry leaders to rebuild specialized banking infrastructure for the innovation economy.

Intel's new CEO Lip-Bu Tan is implementing a major overhaul of the company's chip manufacturing strategy. The plan includes significant workforce reductions starting July 2025, primarily affecting factory roles at older plants. Intel will redirect resources toward next-generation fabrication technologies like EUV lithography and 2nm production, while expanding foundry services to external clients including Nvidia and Microsoft. This restructuring comes after Intel posted its first annual loss since 1986 and faces intense competition from TSMC, Samsung, and AMD. Tan's strategy also emphasizes AI development, software innovation, and customer relationships as part of a broader effort to regain technological leadership in the semiconductor industry.