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CRM software company Freshworks said it plans to cut 11% of its workforce, or ~500 jobs, as it deals with AI's impact; FRSH has dropped ~26% in 2026 (Anhata Rooprai/Reuters)
Coupang reports Q1 revenue up 8% YoY to $8.5B and a net loss of $266M following a 2025 Korean customer data breach, its largest loss since Q4 2021 (The Korea Herald)
Nace.AI, which lets companies build specialized AI models tailored to their business' mission and language, raised a $21.5M seed led by Walden Catalyst (Chris Metinko/Axios)
Meta is using AI on Facebook and Instagram to detect under-13 users by analyzing bone structure, height, and visual cues, but says it's "not facial recognition" (Emma Roth/The Verge)
Microsoft's 2026 Work Trend Index: a survey of 20K AI users finds 65% fear falling behind, but only 13% report being rewarded for experimenting with AI at work (Todd Bishop/GeekWire)
Meta says it will expand Instagram teen account safeguards to 27 EU countries, and plans to roll them out on Facebook in the US ahead of the UK and EU in June (Foo Yun Chee/Reuters)
Zyg, an AI startup by ironSource's founders to automate business functions, raised $60M led by Accel at a $500M valuation, two months after exiting stealth (Marissa Newman/Bloomberg)
Shopify reports Q1 revenue up 34% YoY to $3.17B, above $3.12B est., GMV up 35% YoY to $100.74B, and forecasts slower Q2 revenue growth; SHOP drops 10%+ (Ignacio Gonzalez/Bloomberg)
Coinbase CEO Brian Armstrong announces the company is cutting ~700 jobs, or ~14% of its global workforce, to reduce costs, saying "AI is changing how we work" (Reuters)
The US Commerce Department's CAISI says Google, Microsoft, and xAI join OpenAI and Anthropic in granting early access to evaluate models prior to public release (Bloomberg)
a16z crypto raised $2.2B for its fifth fund, down from its record $4.5B Fund 4 in May 2022, taking its total capital raised across five funds to ~$9.8B (Yogita Khatri/The Block)
RadixArk, led by former xAI employee Ying Sheng, raised a $100M seed at a $400M valuation to make AI inference more efficient via its open-source SGLang engine (Meghan Bobrowsky/Wall Street Journal)
Sources: China targets 70%+ of silicon wafers used by its chipmakers to be made domestically by 2026; chipmakers see an unspoken mandate to use local 12" wafers (Nikkei Asia)
Dutch quantum processor company QuantWare raised a $178M Series B from Intel, In-Q-Tel, and others to build KiloFab, a dedicated quantum manufacturing facility (Tamara Djurickovic/Tech.eu)
Hachette, Macmillan, McGraw Hill, Elsevier, and Cengage, alongside novelist Scott Turow, file a class-action copyright lawsuit against Meta and Mark Zuckerberg (Alexandra Alter/New York Times)
Seattle-based CopilotKit, whose popular AG-UI protocol lets developers deploy app-native AI agents, raised a $27M Series A led by Glilot, NFX, and SignalFire (Ram Iyer/TechCrunch)
ElevenLabs raised $550M+ in its Series D, up from a previously announced $500M, adding BlackRock, Nvidia, and others as investors; its ARR passed $500M in Q1 (John Reynolds/Tech.eu)
The FTC will ban data broker Kochava and its subsidiary CDS from selling Americans' location data as part of a settlement over charges brought in 2022 (Sergiu Gatlan/BleepingComputer)
Sources: the Trump administration is discussing an EO to create an AI working group to examine AI oversight procedures, including vetting models before release (New York Times)
Musk v. Altman: Stuart Russell, Musk's only AI expert witness, warned of AI risks but his concerns about AI's existential threats were excluded by the judge (Tim Fernholz/TechCrunch)

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