Engram, an 8-month-old AI startup, raised $98 million to develop models that use up to 100 times fewer tokens, reducing AI costs while maintaining performance. The company’s technology focuses on recalling organization-specific workflows to deliver smarter, cheaper AI responses. Backed by investors like General Catalyst, Kleiner Perkins, Sequoia, and OpenAI co-founder Andrej Karpathy, Engram aims to address rising AI expenses as corporate demand grows. The funding will support expanding compute resources and talent to refine their specialized AI memory models.
Microsoft's stock has dropped about 22.2% year-to-date in 2026, with a $1,000 investment now worth around $778. The decline is driven by investor worries over the company's aggressive $190 billion AI investment plans and doubts about quick returns fr...
Oracle reduced its workforce by nearly 13%, cutting 21,000 jobs to 141,000 employees as of May 2026, citing AI technology deployment as a key factor. The company spent $1.8 billion on restructuring costs, a significant increase from the previous year...
Microsoft and Chevron announced a plan to develop a 2.67-gigawatt natural gas power plant in West Texas to supply electricity for Microsoft's AI and cloud data centers. The plant will use large turbines from GE Vernova and Solar Turbines, with Micros...
Microsoft CEO Satya Nadella emphasized the need for AI companies to secure societal approval as concerns grow about AI's impact on jobs and safety. He warned against viewing AI solely as a cost-cutting tool and advocated for reorganizing jobs to enha...
Chinese AI models like GLM-5.2 are quickly gaining traction in the US due to their advanced capabilities and lower costs, challenging American AI dominance. These open-source models, developed by firms such as z.AI, Tencent, and Xiaomi, offer competi...
