Larry Dignan

Monday said it will cut 20% of its workforce in a restructuring that'll incur about $45 million to $55 million in charges. Of that sum, $30 million to $35 million will be severance and related items.

Monday said the layoffs reflect "the Company's ongoing transformation of its product, marketing, and go-to-market strategy and is intended to support a leaner, more focused operating model as the Company continues to invest in its AI-driven growth strategy."

The company maintained its revenue growth outlook and adjusted cash flow.

Samsung's Unpacked event in London included the usual complement of smartphone upgrades complete with price increases due to memory costs for some models. Samsung also outlined its intelligent eyewear efforts with Gentle Monster and Warby Parker.

The most interesting thing the Fold8 has a passport-sized form factor. That's nice but the $1,900 price tag is a bit much (reviews).

Here's the recap:

• Samsung Galaxy Z Fold8 Ultra, Fold8 and Flip8.
• Samsung Galaxy Watch Ultra2 and Watch9.
• Smart glasses.

Cisco launched Antares, a family of security small language models built for pinpointing where vulnerabilities exist in a code base. The models Antares-350M and Antares-1B were released on Hugging Face. The big takeaway is that Cisco claims Antares is 172x cheaper than OpenAI's GPT-5.5 and 15.2x cheaper than Z.ai's GLM-5.2.

Super Micro said fourth quarter revenue will be at the low end of its guidance of $11 billion to $12.5 billion. Wall Street was looking for $11.73 billion. Non-GAAP gross margins will be between 15% to 17%, which is well ahead of the 8.2% and 8.4% guidance. The company received new orders worth $60 billion in the fourth quarter.

Overall, the preliminary report is mixed, but 16% of the shares are sold short. With that many traders leaning the wrong way, shares surged 15% in after hours trading.

General Motors reported a solid second quarter and CEO Mary Barra said the company is busy expanding beyond autos.

Barra said:

"Our high-margin software and services revenues continue to grow rapidly with 1 million new subscriptions expected this year, contributing to more than $3 billion in recognized revenue. Next year, the growth should be even higher because we're making Super Cruise standard on high-end Silverado and Sierra trims and optional on most everything else. We're estimating 160,000 incremental Super Cruise units from this product enhancement strategy.

Alongside our core vehicle portfolio and software growth, new businesses initiatives like GM Insurance and GM Defense are reaching critical mass because we offer unique value propositions. For example, when a customer purchases GM Insurance, we create a reoccurring revenue stream from premiums, along with incremental parts and vehicle sales, all while driving customer loyalty and higher satisfaction. The business has scaled from 3 states in early 2024 to 21 states today, making GM Insurance available to over 60% of GM's U.S. sales, and we are on track to reach over 80% in the near term. GM Defense is another compelling growth opportunity that enables us to deliver defense solutions faster with better economics for the U.S. taxpayer. The Chevrolet Colorado-based Infantry Squad Vehicle is a case in point. After initial multiyear order of about 1,200 ISVs, the U.S. Army now plans to procure more than 10,000 if the appropriation is passed."

• GM's digital services revenue surges in Q1
• GM to integrate Google Gemini, delivered unified software defined vehicle architecture

Microsoft said it has expanded a partnership with Mistral. Core components of the deal include:

• Microsoft will leverage Mistral's expanded Europe-based GPU compute to support delivery of its cloud and AI services. Microsoft said the deal is a "multibillion dollar commitment."
• Microsoft will integrate Mistral models into its enterprise products. Mistral Medium 3.5 and OCR 4 are now available in Microsoft Foundry, and Mistral Medium 3.5 is now in Microsoft Copilot Studio.
• Mistral models will be delivered on Azure via cloud-cloud connected and disconnected environments.

In a survey of nearly 2,000 US and UK workers, 62% of respondents believe companies are reducing entry-level hiring due to AI, according to Indeed Flex. However, only 31% of respondents said AI has actually reduced entry-level opportunities in their own field.

A Boston Consulting Group report looks at how citizens are using AI and their satisfaction with government digital services. Nearly two-thirds of global citizens now use AI at least weekly and satisfaction with government digital services has fallen 13% over the last decade. There are opportunities for governments, according to BCG's Digital Government Citizen Survey Report, but also a lot of nuance. Here's what citizens see as the best agentic AI use cases.

OpenAI said it paused internal access to an unreleased model that disproved the Erdos unit distance conjecture. In a detailed post, OpenAI detailed how the model found ways to act outside of its sandbox. OpenAI said long-running frontier AI systems may pose novel risks.

Bristol Myers Squibb (BMS) said it will build an AI factory for life sciences. BMS said it will deploy Nvidia DGX SuperPOD with DGX Vera Rubin NVL72 systems. BMS said the new compute will give it 10x greater performance per megawatt than its predecessor system.

According to BMS, the company's AI infrastructure investment started 3 years ago with its first Nvidia SuperPOD. BMS is also leveraging Nvidia's BioNeMo models and workflows.

Jamie Dimon, CEO of JPMorgan Chase, outlined what his successor needs to do. The bank named two co-presidents that set up the succession plan.

JPMorgan Chase in June named Doug Petno and Troy Rohrbaugh co-presidents. Petno is CEO of the commercial and investment bank and Rohrbaugh is CEO of consumer and community banking.

Dimon emphasized a strong team that includes Jennifer Piepszak as Chief Operating Officer and Mary Callahan Erdoes, who runs the asset and wealth management unit. "I am fully confident if I was hit by a truck, which is not my preference, we would be fine," said Dimon.

What does it take to be CEO?

Dimon said:

"You want to be good at management, you want to be good at people, you want to be analytical, you want to be detailed, you want to be a culture carrier, you want to be curious, you want to have heart, you want to have grit, you want to have a soul, you want to have work ethic, you want to be able to travel, you want to be able to walk in operating centers and deal with CEOs and Prime Ministers, it's all of that.

I could give you a long list of stuff, but it's all of that. At the end of the day, we're blessed with a lot of people who are great culture carriers across a broad spectrum, no one has all those things in a perfect way. And some of the things you learn and some of those things you get better at. But you know when you see it."

Databricks said it will be valued at $188 billion after signing a term sheet for a funding round expected to close later this summer. The round will be led by existing investor Coatue.

Details about the round were sparse other than Databricks saying it will double down on its Unity AI Gateway, AI coworker Genie and Lakebase. Databricks didn't disclose its revenue run rate.

• Databricks unveils Vibe Data Modeling
• Databricks' Bid To Become the Center of Gravity for Enterprise Data and AI
• Databricks targets transactional data, customer data use cases, context, AI agent expansion
• Databricks is entering the cybersecurity market with Anthropic assist
• Databricks details Q4 figures, raises $7 billion to build out Lakebase, Genie