News
Volkswagen eyes 100, 000 layoffs; Shuts four German plants
1+ hour, 43+ min ago (450+ words) Volkswagen is planning to cut 100, 000 jobs and end production at four German plants over the coming years, according to a report by Manager Magazin. The cuts would affect about 15% of the company's workforce. The reported restructuring plan also calls for…...
Dell leaves Delaware, returns home to Texas
16+ hour, 50+ min ago (507+ words) Dell Technologies has secured overwhelming shareholder support to move its legal headquarters from Delaware to Texas, marking another high-profile corporate shift toward the Lone Star State. The proposal received 97% shareholder approval, formally relocating the company's legal home to the state…...
Elon Musk no longer a trillionaire after fall in Space X stocks
2+ day, 19+ hour ago (474+ words) Tesla and Space X CEO Elon Musk had emerged as the world's first trillionaire following Space X's much-anticipated IPO. The IPO priced the biggest-ever U. S. initial public offering at $135 per share, raising a record $75 billion on "the sale of 555. 56 million shares....
Lucid to lay off around 18% of workforce as COO Marc Winterhoff leaves
4+ day, 1+ hour ago (384+ words) Lucid Group said on Monday that it is cutting its U. S. workforce by approximately 18% as part of a cost-savings plan. The electric vehicle-maker said its plan would give it annualized cost savings of approximately $158 million. Lucid also said its Chief Operating…...
Waymo recalls nearly 4, 000 robotaxis over risk of entering highway construction zones
1+ week, 22+ hour ago (465+ words) Waymo has recalled its fleet of nearly 4, 000 automated vehicles to restrict them from driving on highways, according to Tech Crunch. This was done as the company is figuring out how to make the vehicles behave around construction zones. This comes…...
Elon Musk becomes world's first trillionaire following Space X IPO
2+ week, 23+ hour ago (383+ words) Space X on Thursday priced the biggest-ever U. S. initial public offering at $135 per share, raising a record $75 billion on "the sale of 555. 56 million shares. This values the company at $1. 77 trillion, a record for an initial offering and has also made the…...
Space X secures Texas tax break for chip project ahead of IPO
3+ week, 1+ day ago (451+ words) Space X secured a property tax abatement from Grimes County, Texas, on Wednesday for its proposed Terafab chip manufacturing facility. This comes in spite of opposition from residents, over concerns about environmental damage, strained resources, and a lack of transparency…...
US auto regulators open probe into nearly 115, 000 Rivian vehicles
4+ week, 1+ day ago (288+ words) The agency also mentioned that one incident resulted in a collision with an adjacent "vehicle and roadside barrier. The probe will assess the sensitivity of the rear "toe "link joint to foreseeable road and service conditions and evaluate Rivian's current…...
Early Space X investor to see major gains from future IPO
1+ mon, 21+ hour ago (451+ words) After risking a gamble on Space X by backing Elon Musk when the company was facing financial turmoil, Antonio Gracias is set to see major gains if Musk's rocket company eventually goes public at the valuation figures currently circulating in…...
Anthropic hires Open AI co-founder Andrej Karpathy
1+ mon, 6+ day ago (372+ words) Open AI co-founder and AI researcher Andrej Karpathy announced that he is joining Anthropic, the AI safety and research company considered to be a direct competitor to Open AI, via a post on X. "I think the next few years at…...