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Rani Molla

Tesla is finally testing driverless robotaxis in Austin, just a few weeks before launching them to the public

Tesla has been testing driverless robotaxis on public streets Austin for the “past several days,” CEO Elon Musk said in a tweet in the middle of the night, confirming previous reporting.

While Musk said it’s “a month ahead of schedule,” the testing seems to be cutting things pretty close for a program supposed to launch next month — June 12, according to Bloomberg — and one central to the company's value proposition.

Fortune reported earlier this week that key players like Austin’s transportation department, emergency first responders, and federal regulators don’t yet have the information necessary to green-light the launch.

The launch will also likely be a far cry from the “unsupervised, no one in the car, Full Self-Driving” paid public service that Musk had promised. It will have 10 to 20 cars that are tele-operated in a geo-fenced area. Also, it’s invite only.

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Rani Molla

Salesforce falls as Anthropic debuts Cowork tool

Salesforce is on track for its worst trading day in nearly two years, with shares down more than 6% Tuesday afternoon. One potential contributor: Anthropic’s release of Cowork, an autonomous digital assistant for completing office tasks. Essentially, Cowork is an agent-based version of Anthropic’s Claude chatbot that can access and manipulate files, automate workflows, and execute tasks on a user’s behalf.

Salesforce watchers will recall that the SaaS giant has thrown its weight behind its own agent-based workplace AI, Agentforce, which CEO Marc Benioff recently described as one of the company’s two main “momentum drivers.” In December, Benioff said he would consider renaming the company "Agenforce."

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Rani Molla
Reality Check
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Meta will suffer the most from shouldering higher data center costs

Meta is no Google or Microsoft, but it’s spending like it is.

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Rani Molla

Google reaches record high and crosses $4 trillion market cap after major wins for Gemini

Google parent Alphabet closed yesterday at a record-high stock price of $331.86, giving the company a market capitalization just above $4 trillion, as investors reward a string of wins for its Gemini AI model, including high-profile partnerships with Apple and Walmart.

After months of speculation, Apple announced a multiyear partnership to use Gemini to power its AI assistant, Siri, a major endorsement of Google’s AI prowess. That same day, Walmart said it would partner with Google to let customers purchase products directly through the Gemini chatbot, a move that would put Gemini in front of millions of Walmart shoppers and test whether AI chatbots can drive real commerce at scale rather than isolated queries. (Amazon, OpenAI, and Microsoft are experimenting with similar AI shopping tools.)

The stock is up nearly 1% again in premarket trading today. While Microsoft and Apple have both crossed $4 trillion in the past, they’ve since dipped below it, leaving Google and Nvidia as the only companies currently valued above the threshold.

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Jon Keegan

Meta reportedly plans to cut about 10% of employees in Reality Labs metaverse business

Meta is planning to cut roughly 10% of its Reality Labs employees, according to a report from The New York Times. The division is home to products related to the namesake of the company — the metaverse — which includes virtual and augmented reality glasses and headsets. Employees working on the metaverse are the target of the cuts, per the report.

Reality Labs has been bleeding cash and struggling to build significant revenue, racking up losses of around $70 billion since the company started reporting its numbers in 2020. Other than Meta Ray-Ban glasses, the group’s products have not been popular with consumers, and the idea of the metaverse that CEO Mark Zuckerberg evangelized never took off.

The company has since pivoted to a focus on building AI “superintelligence.”

Meta Plans to Cut 10% to 15% of Employees in Reality Labs Business

Meta Plans to Cut 10% to 15% of Employees in Reality Labs Business

Reality Labs has been bleeding cash and struggling to build significant revenue, racking up losses of around $70 billion since the company started reporting its numbers in 2020. Other than Meta Ray-Ban glasses, the group’s products have not been popular with consumers, and the idea of the metaverse that CEO Mark Zuckerberg evangelized never took off.

The company has since pivoted to a focus on building AI “superintelligence.”

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