Amazon is cutting 14,000 corporate jobs to reduce bureaucracy and invest more in AI. The e-commerce giant's SVP Beth Galetti explained the decision as necessary despite good performance, calling AI the most transformative technology since the internet. CEO Andy Jassy previously noted fewer employees would be needed as AI agents are deployed, while Amazon spent $55.6 billion on tech infrastructure in the first half of its financial year.

OpenAI has completed its recapitalization, restructuring into a for-profit corporation controlled by a nonprofit foundation. The OpenAI Foundation will hold 26% of OpenAI Group, with Microsoft owning 27% and investors and employees holding the remaining 47%. This new structure removes previous equity restrictions and enables the $30 billion Softbank investment to proceed.

Nvidia is taking a $1 billion stake in Nokia, acquiring over 166 million new shares. The companies formed a strategic partnership to develop next-generation 6G cellular technology and adapt Nokia's 5G and 6G software for Nvidia's chips. Nokia shares rose 26% following the announcement. This is Nvidia's latest investment in strategic partners, following commitments to Intel, OpenAI, Wayve, and Nscale.

Apple and Microsoft have each reached market capitalizations exceeding $4 trillion, making Apple the third company to achieve this milestone after Nvidia and Microsoft. Apple's value tripled since 2018, buoyed by strong iPhone 17 sales. Microsoft's growth is driven by Azure cloud services and its $135 billion stake in OpenAI. Alphabet approaches the $4 trillion mark at $3.25 trillion.

YC-backed startup Mem0 has raised $24 million to develop a memory framework for AI applications. Founded by Taranjeet Singh, Mem0 enables AI systems to maintain context across interactions and applications. The open-source API has gained significant traction with over 41,000 GitHub stars, 13 million package downloads, and 80,000 developers signed up for its cloud service.