Syz the moment

Source: Carbon Finance

88k job cuts were attributed to AI so far this year, a 60% increase over the AI-driven job cuts in all of 2025. Source: Charlie Bilello

Source: Bekalu Tamene

The limits apply only to agentic coding software, and they apply to each tool, so employees can spend $1,500 on each different tool, according to the report, which cited an Uber spokesperson. Uber provides employees with a dashboard on which they can track their usage of different tools, and it allows individuals to seek permission to exceed the limits, per the report. “We think this is all a pretty straightforward way to responsibly encourage agentic AI adoption and experimentation at scale across the company,” the Uber spokesperson said in the report. The limits were implemented in recent months after Uber used up its AI budget for the full year by April, the report said, noting that The Information reported that fact in April. In The Information’s report, Uber Chief Technology Officer Praveen Neppalli Naga, who shared the news about the AI budget, said the company was “back to the drawing board. Source: Pymnts

If $GOOGL — a company printing massive FCF — is tapping equity markets for $80B, it’s because credit conditions are tightening. The private credit canary in the coal mine may have just died. The structure of the raise says a lot: a massive $40B ATM alongside a $10B private placement to Berkshire Hathaway. That’s what a desperate search for liquidity looks like. So who else is heavily exposed to credit markets? $ORCL is probably the first name that comes to mind. The stock has ripped higher and suddenly it feels like everyone forgot the financing overhang. Meanwhile, debt-to-equity is still above 5x. $META continues spending at an almost irrational pace. At some point this may force Zuck to reevaluate the playbook here. (Arete upgraded it today, by the way.) Then you have the companies that need constant access to capital just to keep expanding. $EQIX and $DLR immediately stand out. A 200MW data center now costs roughly $8B to build — not exactly pocket change. But the biggest credit story of them all might be $CRWV. The stock rallied yesterday on $DELL headlines, yet the company is sitting on $21B of debt, including an $8.5B delayed-draw term loan backed by GPUs. Source: Scrooge McDuck

And Berkshire Hathaway $BRK.B is writing a $10 billion check to get in. Here's the full breakdown: THE DEAL: - $30B in underwritten public offerings - $40B through an at-the-market stock program starting Q3 2026 - $10B private placement to Berkshire Hathaway THE BERKSHIRE PIECE: - $5B in Class A Common Stock at $351.81 per share - $5B in Class C Capital Stock at $348.20 per share - Berkshire has been building this position since Q3 2025 THE PURPOSE: - Scale AI compute infrastructure to meet "unprecedented customer demand" - Approximately $30B of the ATM proceeds will cover 2026 employee equity tax obligations - Remaining proceeds go directly to AI infrastructure buildout Source: Evan

The AI boom that funneled more than $250 billion into OpenAI and Anthropic ahead of their expected mega-IPOs this year has left hundreds of startups built before ChatGPT’s arrival in 2022 stranded — effectively cut off from venture funding because of their inflated valuations and outdated technology, yet not profitable enough for the public markets. More than 220 companies that had reached billion-dollar valuations in the venture boom are now fallen unicorns, according to PitchBook, which provided a list of the companies exclusively to CNBC. The estimates are based on factors including head count growth and comparisons with public companies. Source: CNBC

AI users are creating agents and code, leading to exponential growth in AI usage. It's just starting. Source: a16z, Jim Bianco