The electric vehicle-maker is laying off less than 2% of its workforce (about 300 employees), specifically targeting its service and customer organizations. This follows multiple rounds of job cuts over the past year as the company faces softer demand and works to scale profitably.
Rivian is pinning its future growth on the newly debuted R2 SUV, hoping a more affordable model will broaden demand and help the company finally achieve profitability.
Yum Brands said Tuesday it's selling Pizza Hut.
The brand, nearly 70, has run into hard times in recent decades as competition grew and it was saddled with big dine-in restaurants.
Yum said the private equity firm LongRange Capital will buy Pizza Hut, excluding the mainland China business, for about $1.5 billion. The mainland China Pizza Hut will be purchased by Yum China Holdings Inc. for approximately $1.2 billion.
Snap is launching Specs, a pair of augmented-reality smart glasses for $2,195. Set to ship this fall, the thick-framed eyewear functions as an external computer display system and can screen apps, games, and smartphone notifications. Snap's co-founder Evan Spiegel wrote on LinkedIn that they have "no puck and no tether" — unlike Apple's Vision Pro headset, which includes a tethered battery pack. It's a big bet for the Snapchat operator, whose stock is down almost 30% this year. Rival Meta is also targeting the smart glasses market.
Elon Musk is making his biggest AI play yet—and he’s using SpaceX to do it. 🚀🤖
In a massive shift, SpaceX (fresh off its historic IPO) just locked in a $60 billion all-stock deal to acquire Cursor, the red-hot San Francisco startup behind the AI coding agent used by Nvidia, Deloitte, and British Airways.
Why is the rocket company buying a coding tool? It all comes down to Musk’s self-admitted "AI problem."
📉 The Deficit
Musk recently testified that when it comes to the top AI models, his venture (xAI, which SpaceX acquired earlier this year) is currently lagging behind the competition:
Anthropic 🥇
OpenAI 🥈
Google 🥉
Chinese open-source models 🏅
xAI / Grok 🛑
On top of that, the AI business has been burning through cash—reporting $6.4 billion in losses last year alone.
🛠️ The Strategy
To catch up, Musk is unleashing SpaceX’s post-IPO war chest to land massive enterprise clients and generate immediate revenue.
The Cursor Prize: Cursor is growing at a breakneck pace. Its annualized sales skyrocketed from $100 million to $4 billion in just a year, with over half coming from corporate clients. Plus, Cursor CEO Michael Truell is a rising star who can help rebuild xAI's leadership team.
Renting the Supercomputers: SpaceX has started renting out its massive data-center capacity to its own rivals, including Google and Anthropic. This genius pivot is expected to bring in $26 billion a year between 2027 and 2029.
🌌 The Big Picture
While critics and analysts question the math, Wall Street giants like Goldman Sachs and Morgan Stanley are buying into the vision, projecting SpaceX’s revenue to shoot up to $160 billion by 2028—more than eight times its 2025 levels.
Musk’s ultimate goal? AI that can achieve "Stockfish-level" coding capabilities to eventually help humans navigate beyond Earth and "understand the universe."
👇 What do you think? Can SpaceX’s massive computing power and the acquisition of Cursor push Musk past OpenAI and Anthropic, or is the AI race moving too fast to catch up? Let’s talk in the comments! 💬
🚗🛡️ Big news from Detroit!
General Motors and Lockheed Martin are teaming up on defense projects — and the U.S. Department of Defense helped make it happen.
The two companies say they'll focus on boosting production readiness, strengthening supply chains, and using advanced manufacturing to build defense products more efficiently. GM's defense unit plans to bring its labs and production facilities to the table.
And it doesn't stop there — GM has also been in talks with defense giant RTX, and Bloomberg reports conversations with L3Harris are on the table too.
On the money side: GM is putting $9 billion in capital and $7 billion in R&D into its overall business this year, while Lockheed is investing $9 billion through 2030 to scale up munitions production.
Not to be left out, crosstown rival Ford says multiple governments in Europe and North America have been knocking on its door about defense support, too. 👀
The auto industry is going defense — and it's just getting started. 🇺🇸
Apple is planning to introduce camera-equipped AirPods in late 2027, marking the company's entry into the AI-powered wearables sector, according to an anonymously sourced Bloomberg report. The AirPod cameras are not chiefly designed to take photos, but rather to supply visual information about a user's surroundings to virtual assistant Siri, which can then answer questions about nearby places and objects. The launch is tentatively scheduled to coincide with a slew of new tech, including a next-generation foldable phone and a 20th anniversary iPhone, Bloomberg's sources say.
𝗛𝗼𝗿𝗺𝘂𝘇 𝗺𝗮𝘆 𝗿𝗲𝗼𝗽𝗲𝗻 𝘀𝗼𝗼𝗻. 𝗕𝘂𝘁 𝘄𝗶𝗹𝗹 𝗼𝗶𝗹 𝗳𝗹𝗼𝘄𝘀 𝗻𝗼𝗿𝗺𝗮𝗹𝗶𝘇𝗲?
The Strait of Hormuz may begin opening up in the next few days. But reopening a chokepoint is not the same as restoring normal flows.
The Red Sea is a useful warning. Shipping through the Suez Canal fell sharply after 2023 and still has not returned to pre-2024 levels. Ships can avoid Suez by going around Africa, costly but feasible.
But Hormuz is different. For many Gulf oil exporters and importers, there is no equivalent workaround. Sidestepping the strait is limited, and in many cases, not really feasible.
And yet, even if Hormuz reopens physically, flows will depend on whether shipowners, insurers, navies, and buyers believe the route is reliably safe... Access can return faster than confidence.
The American family dynamic continues to shift as more college-educated moms opt for full-time work. Both parents work at least 40 hours per week in a record 52% of U.S. families — a 6% rise since 2016, Pew data out Tuesday shows. The change comes as more mothers with bachelor's or postgraduate degrees pursue full-time employment, and more dads assume domestic responsibilities. Data from last month indicates that college-educated fathers are increasingly forsaking paid jobs for childcare and housework.
For most working parents in the U.S., the boundary between job and family has all but dissolved. Seventy percent say they handle parenting tasks while they're supposed to be working. Fifty-nine percent do the reverse — fielding work demands while they're with their kids. The result: more than half say balancing the two is genuinely difficult.
That difficulty is not felt equally. Mothers bear a heavier load on nearly every measure. Nearly two-thirds of full-time working moms say balance is hard, compared to under half of dads. In households where both parents work full time, 52% say the mother handles more of the parenting, and even when she logs more hours at work than her partner, she's still more likely to do more at home.
The squeeze shows up in the margins of daily life. Two-thirds of working moms say they don't have enough time to exercise; 67% say the same about relaxing. For dads, those figures are lower, but still over half. Nobody is getting enough.
The emotional cost is just as real. Nearly half of all working parents say job obligations have caused them to miss a child's school concert or game. Most dads say they feel at least somewhat upset when it happens. Sixty-five percent of moms say they feel extremely or very upset. And 60% of working parents overall — moms and dads alike — say they simply don't spend enough time with their kids. The culprit, more than anything else, is work.