Are we about to see a summer of layoffs in Silicon Valley? Midjourney’s new video model. Meta continues its acqu-hire spree with some folks we know. Microsoft has its own nuclear option with OpenAI, while OpenAI is starting to get worried about its models being nuclear dangerous? And what even IS AGI?

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Links:

• Microsoft Planning Thousands More Job Cuts Aimed at Salespeople (Bloomberg)
• ‘Surpassing all my expectations’: Midjourney releases first AI video model amid Disney, Universal lawsuit (VentureBeat)
• Meta in Talks to Hire AI Investors Friedman and Gross, Partially Buy Out Their Venture Fund (The Information)
• Microsoft prepared to walk away from high-stakes OpenAI talks (FT)
• OpenAI warns models with higher bioweapons risk are imminent (Axios)
• Why Big Tech cannot agree on artificial general intelligence (FT)

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Remember how that TikTok ban or sale thing has never been resolved? Yeah. Sam Altman describes the money he says Meta is throwing at AI researchers. Is xAI the one with the real money crunch in the AI race? And a review of the first of this new wave of smartglasses.

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Links:

• Trump will grant TikTok another 90-day extension in enforcement of sale-or-ban law (CNNBusiness)
• Sam Altman says Meta tried and failed to poach OpenAI’s talent with $100M offers (TechCrunch)
• Musk’s xAI Burns Through $1 Billion a Month as Costs Pile Up (Bloomberg)
• YouTube to Add Google’s Veo 3 to Shorts in Move That Could Turbocharge AI on the Video Platform (The Hollywood Reporter)
• Amazon expects to cut corporate jobs as it relies more on AI (NBCNews)
• Xreal’s One Pro Are a Stopgap Ahead of True AR Smart Glasses (Bloomberg)

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Among the many snags to OpenAI shifting to for-profit, the Microsoft snag is still the biggest issue. More Intel job cuts coming. Would you believe a Roblox game involving gardening is maybe bigger than Fortnite? And two big firsts: most people get their news from social media, and streaming is now the king of all TV watching.

Sponsors:

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Links:

• OpenAI Seeks New Financial Concessions From Microsoft, a Top Shareholder (The Information)
• OpenAI and Microsoft Tensions Are Reaching a Boiling Point (WSJ)
• OpenAI wins $200 million U.S. defense contract (CNBC)
• Intel will lay off 15% to 20% of its factory workers, memo says (The Oregonian)
• Amazon Prime Day stretches to four days of deals this year (The Verge)
• Generation Alpha’s FarmVille Is Growing Like Crazy in Roblox (NYTimes)
• For the first time, social media overtakes TV as Americans’ top news source (NiemanLab)
• It’s Official: Streaming Is Now the King of TV (NYTimes)

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