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Company lays off over 4,000 employees to invest in artificial intelligence
Ray Choi
March 10, 2024
Welcome, AI enthusiasts.
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What’s in this week’s issue?
😟 Company lays off over 4,000 employees to invest in AI
🤨 Sam Altman owns OpenAI's venture capital fund
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Bible Verses of the Day
37 No, in all these things we are more than conquerors through him who loved us. 38 For I am sure that neither death nor life, nor angels nor rulers, nor things present nor things to come, nor powers, 39 nor height nor depth, nor anything else in all creation, will be able to separate us from the love of God in Christ Jesus our Lord. [Romans 8:37-39, ESV]
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Cisco revealed plans to slash its headcount by 5% — roughly 4,250 employees across the tech behemoth’s global workforce — as it steps up its focus on artificial intelligence.
San Jose, Calif.-based Cisco said the layoffs — which will cost the company some $800 million in pre-tax charges related to severance and benefits — will enable it to focus on high-growth areas such as AI and software development.
Cisco CEO Chuck Robbins told investors on Wednesday: “Our innovation sits at the center of an increasingly connected ecosystem and will play a critical role as our customers adopt AI and secure their organizations.”
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Sam Altman isn't just the CEO of ChatGPT maker OpenAI. He's also the owner of OpenAI Startup Fund.
What set OpenAI Startup Fund apart was that it wasn't (and isn't) owned by OpenAI. Nor even by its affiliated nonprofit foundation. Instead, it's legally owned by Altman.
Behind the scenes: "We wanted to get started quickly and the easiest way to do that due to our structure was to put it in Sam's name," an OpenAI spokesperson tells Axios. "We have always intended for this to be temporary. Temporary has been well over a year and it's a significant risk.”
Easy Cloud News
Listen or read the following transcript as R. C. Sproul speaks on the topic of the Perseverance of the Saints from Hebrews 6.
The following unedited transcript is provided by Beluga AI.
⛪️ Easy Cloud AI: Hear the Word Clearly: How Beluga Transcription Makes Sermons Accessible to All (link)
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