Nobody Had a Good Week. Except Baseten.
Lead AI Engineers needed, click the link below to apply!
Hey,
Spotted: a week where the AI gold rush claimed thousands of jobs, crashed a historic IPO and minted yet another billion dollar startup.
Oracle axed 21,000 roles to fund its AI buildout, SpaceX shed $400 billion in three days after the most hyped debut in years, Intel is back from the dead thanks to Trump and Apple, UK consumers are finally fighting back against Apple’s iCloud stranglehold, and Baseten just raised $1.5 billion by offering a cheaper alternative to the AI giants.
We have also released our newest podcast called the Haystack Huddle!! Check it out with the button below.
Oracle cut 13% of its workforce, and spending $1.8 billion on restructuring, as the company redirects capital toward a $55.7 billion AI infrastructure buildout that left it with negative $23.7 billion in free cash flow last year.
After surging more than 50% on its IPO debut and briefly overtaking Amazon and Microsoft in market cap, the three days post-debut euphoria faded, leaving the average investor who bought in after the IPO nearly underwater.
Backed by Trump’s public endorsement Intel, extends a remarkable 464% rally as CEO Lip-Bu Tan's revival strategy continues to attract major partners.
Alleging the tech giant trapped users into overpriced iCloud subscriptions by making it impossible to use alternative storage providers.
Baseten raised $1.5 billion at a $13 billion valuation after growing revenue 20-fold in a year by offering companies a cheaper alternative to OpenAI and Anthropic for customising and deploying their own AI models.
🧠 Quick Brain Teaser!
I am always in front of you but can never be seen.
I can be wasted, saved or killed but never bought back.
What am I?
Answer at the bottom of the newsletter!
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✈️ Head on over to Haystack to browse more roles like these ones!
📚 What We’re Reading:
Meta Pauses Employee-Tracking Program Following Internal Data Leak
Silicon Valley’s Elite Financial Advisers Say This Era of Wealth Is Different
And the answer is…… 🥁🥁🥁🥁
⏰ Time
Always in front of you because the future is ahead
Can never be seen because you cannot see the future
Can be wasted, saved or killed as common phrases we use
Can never be bought back because once time passes it is gone forever
Goodbye, see you next week.
Haystack