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Nokia: We chart the rise and fall of Nokia — once king of mobile phones

Nokia: We chart the rise and fall of Nokia — once king of mobile phones

David Crowther

This week Finnish technology company Nokia, once the world's largest manufacturer of mobile phones, announced they were cutting up to 10,000 jobs from its 90,000 strong workforce.

For Nokia this is the latest chapter after a tumultuous few decades. At the turn of the millennium Nokia was king of mobile phones, routinely selling more than 100 million handsets a year.

The advent of smartphones, and some unfortunate product recalls, saw Nokia — and many other manufacturers — lose market share spectacularly quickly to Apple and others. Despite that fall from grace, Nokia's legacy is remarkable; the company still holds 8 out of the top 10 slots for the most-selling mobile phone models and its 3310 model maintains a strong cult following for being completely indestructable.

‍What does Nokia do now?

‍Though Nokia's share price is just a shadow of its former self, the company has done a decent job of maintaining, and even growing, its other revenue streams. After selling its handset business to Microsoft in 2013, Nokia has focused mostly on its networks business and it's planning to use the savings from this latest round of job cuts to finance further investment into 5G, the latest generation of mobile networks. They also still sell a few phones, including a re-imagined version of their iconic 3310.

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Rani Molla

Meta to lay off 8,000 employees, move 7,000 to new initiatives related to AI

On Wednesday, Reuters reported Meta plans to lay off about 8,000 employees in three batches and move another 7,000 employees to “new initiatives related to AI workflows.” The company also plans to “eliminate managerial roles,” though Reuters did not specify how many.

Reuters had previously reported the number and date of the layoffs, but details of the restructuring come from a new internal document from the company’s head of human resources. The cuts come as Meta tries to balance its enormous capex budget of $125 billion to $145 billion this year, as it builds out its AI infrastructure.

As of the company’s last earnings report, its headcount was 77,986.

Exclusive: Meta lays out plans for May 20 layoffs, restructuring, internal document says

Exclusive: Meta lays out plans for May 20 layoffs, restructuring, internal document says

Reuters had previously reported the number and date of the layoffs, but details of the restructuring come from a new internal document from the company’s head of human resources. The cuts come as Meta tries to balance its enormous capex budget of $125 billion to $145 billion this year, as it builds out its AI infrastructure.

As of the company’s last earnings report, its headcount was 77,986.

tech
Rani Molla

Google employees are now competing with Anthropic and Meta for access to Google compute

Google built its reputation as a paradise for ambitious researchers: a place where smart people got massive resources and freedom to experiment.

But in the AI era, the physical infrastructure that powers those breakthroughs is maxed out, and even Google’s own employees are reportedly struggling to get enough computing power.

According to Bloomberg, the bottleneck comes down to hardware. Google’s custom-built AI chips — tensor processing units, or TPUs — are in such high demand that internal researchers say they’re effectively competing for rack space against massive, paying cloud customers like Anthropic and Meta. Frustrated by the bureaucracy of fighting for server time, top engineers are jumping ship to launch their own startups, arguing they can secure more reliable access to infrastructure on the open market than inside the company that actually builds it.

In other words: Google became so successful at selling AI infrastructure that its own researchers now have to justify experimental projects against revenue-generating workloads and a more than $460 billion backlog of paying tenants.

Google’s Own AI Researchers Jockey for Access to Its Computing

Google’s Own AI Researchers Jockey for Access to Its Computing

According to Bloomberg, the bottleneck comes down to hardware. Google’s custom-built AI chips — tensor processing units, or TPUs — are in such high demand that internal researchers say they’re effectively competing for rack space against massive, paying cloud customers like Anthropic and Meta. Frustrated by the bureaucracy of fighting for server time, top engineers are jumping ship to launch their own startups, arguing they can secure more reliable access to infrastructure on the open market than inside the company that actually builds it.

In other words: Google became so successful at selling AI infrastructure that its own researchers now have to justify experimental projects against revenue-generating workloads and a more than $460 billion backlog of paying tenants.

$420
Rani Molla

Elon Musk once promised to take Tesla private at $420. More recently, he’s been offering xAI employees $420 to hand over their private tax returns as training data for Grok, Bloomberg reports, citing internal chats. In an effort to boost the chatbot’s tax-prep capabilities, the company asked employees — as well as friends and family — to submit completed tax returns in exchange for cash that, two months later, still hasn’t materialized. xAI is owned by the soon-to-be-public SpaceX.

tech
Nate Becker

EY retracts report with apparent AI hallucinations

Consulting firm EY has retracted a report on travel loyalty points that an AI watchdog had found was full of hallucinations.

AI-detection firm GPTZero alleged that the report was “riddled with hallucinations,” including citing numerous sources that didn’t appear to exist. Sherwood News exclusively reported on GPTZero’s findings about the report on Thursday. EY didn’t respond to multiple requests for comment.

The firm later told the Financial Times that it had retracted the report, saying it was “reviewing the circumstances that led to this article’s publication.” It said the study wasn’t connected to work for any of its clients. 

“EY Canada takes the accuracy of all the content we publish seriously and we have an organization-wide commitment to the responsible use of AI,” EY said, according to the FT.

A link to the report on EY’s site now displays an error: “Oops! We couldn’t find the page you were looking for.” 

AI hallucinations appear to be creeping into consulting reports

AI hallucinations appear to be creeping into consulting reports

The firm later told the Financial Times that it had retracted the report, saying it was “reviewing the circumstances that led to this article’s publication.” It said the study wasn’t connected to work for any of its clients. 

“EY Canada takes the accuracy of all the content we publish seriously and we have an organization-wide commitment to the responsible use of AI,” EY said, according to the FT.

A link to the report on EY’s site now displays an error: “Oops! We couldn’t find the page you were looking for.” 

tech
Rani Molla

Elon Musk expects Tesla Robotaxis to be “widespread” in the US by the end of the year

After an uncharacteristically clear-eyed earnings call where Elon Musk was cautious about the timing of the company’s many ambitious goals, the Tesla CEO is back to making his usual unlikely predictions:

“We already have some vehicles operating with no people inside and no safety monitors in three cities in Texas, and it probably will be widespread in the US by the end of this year,” Musk said by video at the Smart Mobility Summit in Tel Aviv on Monday. It’s a prediction Musk has made before, but that doesn’t mean it’s going to happen.

Tesla’s expansion of its Robotaxi service, which launched nearly a year ago, has been painstakingly slow. The vast majority of the Robotaxis — more than 500 in the Bay Area — have a person behind the wheel using a version of Supervised Full Self-Driving. In Austin, 12 of the 40 Robotaxis have been spotted driving unsupervised in the last week, according to Robotaxi Tracker. There are two more each in Dallas and Houston. Alphabet’s Waymo, by comparison, is already operating more than 3,000 of its driverless vehicles in cities across the country.

“Initially, we’re taking a very cautious approach to the rollout here,” Musk had said on the last earnings call, estimating the service would be in a dozen states by the end of the year. Today he was more bullish, estimating that in 5 or 10 years, “90% of all distance driven will be driven by the AI in a self-driving car.”

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