business

Jon Keegan1/16/25

Anduril building $1 billion factory to churn out autonomous weapons and vehicles

Autonomous-weapons systems startup Anduril announced plans to build a $1 billion “hyperscale” factory in Columbus, Ohio. Named “Arsenal-1,” the sprawling 5 million-square-foot, airport-adjacent factory complex will be optimized for “the mass production of autonomous systems and weapons,” according to the company’s press release. The company said the factory is expected to create 4,000 jobs.

Anduril, founded by Palmer Luckey in 2017 after selling his Oculus VR startup to Facebook (Meta) in 2014, is a big player in the emerging group of “defense technology” companies currently pitching the US government on ways to bring AI to the battlefield. The startup is backed by Peter Thiel, and is currently valued at $14 billion.

Recently a wave of AI companies have leaned into defense. Palantir has partnered with AI startup Anthropic to include its AI models for national-security applications, and OpenAI and Meta have both started pitching their AI platforms for use in defense.

A group of tech companies including Anduril, Palantir, OpenAI, and SpaceX have partnered up in an effort to compete against legacy defense-industry giants Lockheed Martin, Boeing, and RTX.

A.I. Military Start-Up Anduril Plans $1 Billion Factory in Ohio

A.I. Military Start-Up Anduril Plans $1 Billion Factory in Ohio

Anduril, founded by Palmer Luckey in 2017 after selling his Oculus VR startup to Facebook (Meta) in 2014, is a big player in the emerging group of “defense technology” companies currently pitching the US government on ways to bring AI to the battlefield. The startup is backed by Peter Thiel, and is currently valued at $14 billion.

Recently a wave of AI companies have leaned into defense. Palantir has partnered with AI startup Anthropic to include its AI models for national-security applications, and OpenAI and Meta have both started pitching their AI platforms for use in defense.

A group of tech companies including Anduril, Palantir, OpenAI, and SpaceX have partnered up in an effort to compete against legacy defense-industry giants Lockheed Martin, Boeing, and RTX.

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business

Max Knoblauch12h

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Max Knoblauch19h

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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Max Knoblauch6/5/26

business

Max Knoblauch6/4/26

GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Claire Yubin Oh

How Victoria’s Secret finally managed to get its sexy back

After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

Victoria's Secret Fashion Show 2025 - Runway

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