The race in the AI sector has shifted focus from developing superior models to being the first to enter public markets. OpenAI is reportedly preparing to confidentially submit its IPO prospectus draft this week, signaling its lead in this new phase. Goldman Sachs and Morgan Stanley are likely involved as advisors in this significant move.
Over the past year, Canva has seamlessly integrated its design capabilities into leading AI assistants, starting with Claude, then expanding to ChatGPT and Microsoft Copilot. The latest step is its Connected App launch for Google Gemini, announced at Google I/O. This move allows Gemini users to effortlessly create, modify, and search visuals, marking the completion of Canva's strategy to become the underlying design layer for every major AI assistant.
In response to recent concerns raised by Anthropic’s Mythos AI model, leading US banking regulators, including the Federal Reserve and the Office of the Comptroller of the Currency, have temporarily paused certain cybersecurity examinations of major banks. This pause is intended to grant these financial institutions ample time to strengthen their cybersecurity measures against newly identified risks associated with AI technologies.
Coursera has initiated a $500 million share repurchase program, marking its first buyback since its 2021 public listing. This announcement comes just one week after the company finalized its $2.5 billion merger with Udemy. The board approved the buyback on May 18, 2026, utilizing existing cash reserves and operational cash flow to fund the program.
Sigma Computing has secured $80 million in its Series E funding round, boosting its valuation to $3 billion, a figure twice as much as last year. This San Francisco-based data analytics firm has become one of the rapidly escalating companies within the business intelligence sector. Leading the investment round was Princeville Capital, joined by new contributors such as Databricks Ventures and ServiceNow, signaling growing confidence in Sigma's role in the evolving agentic analytics landscape.
HistoSonics has obtained approval from Taiwan’s Food and Drug Administration for its Edison Histotripsy System, an advanced, non-invasive device designed to eliminate tumours using focused ultrasound waves. This groundbreaking technology destroys cancerous tissue without the need for surgery, radiation, or heat, minimizing patient risk. The TFDA's authorization, announced on 18 May, represents a pivotal milestone in HistoSonics' strategic expansion across Asian markets and marks Taiwan as a key region in its growth plan.
On May 20, Meta will initiate layoffs affecting about 8,000 employees, marking the largest workforce reduction since its 2023 restructuring. This move highlights CEO Mark Zuckerberg's strategic focus on investing heavily in AI infrastructure, prioritizing technological advancement over workforce retention. Additionally, Meta is halting recruitment for 6,000 open positions, underscoring a shift in resource allocation towards AI development.
General Motors, Ford, and Stellantis have collectively cut over 20,000 salaried positions in the U.S. since the start of the decade, trimming their white-collar workforce by nearly 19%, based on analyses from recent filings and employment data by CNBC. The pace of layoffs picked up this week, highlighted by GM's reduction of 500 to 600 IT roles. The influence of AI is anticipated to further accelerate job reductions in this sector.
AI companies are reshaping the workforce, not just by altering how tasks are performed, but by creating entirely new roles. Organizational charts are evolving as fresh job titles emerge—some new in the past two years, others being classic roles reinvented for the tech sector. These shifts highlight hiring trends centered on integrating AI capabilities across industries.
Salesforce CEO Marc Benioff revealed on the All-In podcast that the company plans to invest $300 million in Anthropic tokens this year, focusing primarily on advancing AI-powered coding capabilities. Benioff described the AI coding tools and Anthropic as "awesome," emphasizing that this investment will lower development costs across Salesforce. Additionally, he expressed interest in enabling coding functionality within Slack as the next step.
