February 27, 2026
Jack Dorsey’s Block cuts nearly half of its staff in AI gamble
Jack Dorsey's Block, the parent company of Square and Cash App, is making significant workforce reductions, cutting nearly 4,000 jobs. This bold move is part of a strategic pivot towards AI, reflecting Dorsey's admiration for Elon Musk's approach to tech-driven transformations. The layoffs underscore the growing trend of major tech firms prioritizing AI advancements, potentially setting a precedent for other companies to follow.
New Funding Rounds
New Product Launches
Companies Out of Stealth
Notable Takes
Anthropic CEO Dario Amodei is making headlines by refusing the Pentagon's demands for unrestricted AI access, highlighting the ethical dilemmas tech companies face when dealing with military contracts. His stance could influence other AI firms in similar negotiations.
Industry Moves
Mistral AI has secured a partnership with Accenture, a significant move as Accenture continues to align with leading AI firms like OpenAI and Anthropic. This partnership could enhance Mistral's market reach and innovation capacity.