The numbers got real. OpenAI’s confidential IPO filing could reach the SEC as soon as today, with a September debut in view and a valuation near $1 trillion—up from $852 billion in March. Goldman Sachs and Morgan Stanley are running the submission, and a public S-1 with audited financials follows before trading. Days earlier, Anthropic’s first profitable quarter came into view, with Q2 revenue near $10.9 billion and a first-ever operating profit—though it warns scheduled compute costs may erase that later this year.
The infrastructure layer is collecting every check. Nvidia’s record $81.6B quarter rose 85% year over year, with $75.2 billion from data centers, $91 billion guided for Q2, $80 billion in new buybacks, and a dividend raised to $0.25 from $0.01—yet shares slipped 1.8% on worry that revenue leans on a few hyperscalers. One of them pays in headcount: Meta’s 8,000-job cut, 10% of staff plus 7,000 reassignments, funds $125 to $145 billion in capex. That capex is Nvidia’s revenue.
But cutting humans isn’t the only model. Microsoft and EY’s $1B initiative commits more than $1 billion over five years and scales Copilot to over 400,000 EY employees, up from an initial 150,000. That first deployment delivered a 15% productivity uplift, 95% faster finance lead times, and a 37% cut in operating costs, while Azure tools trimmed manual document work up to 90%. Meta subtracts 8,000 workers; EY rewires 400,000. AI is reshaping the workforce both ways at once.
The Pulse
DeepMind’s Demis Hassabis says we’re at the foothills of the singularity
When the field’s most cautious scientist says it out loud, the hype stops being hype.
Exa Labs raises $250M Series C at a $2.2B valuation for AI search
Agents need to search the web too, and they won’t be doing it through Google.
Brett Adcock’s AI hardware startup Hark raises $700M at a $6B valuation
The Figure founder is betting the next AI interface isn’t an app, it’s a device.
AI security startup Socket hits a $1B valuation after a $60M raise
When AI writes the code, someone still has to check what it quietly imported.
That’s the signal.
— The PulseMark Team
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