Big Tech's staffing squeeze

Get exclusive scoops, insights and analysis from Bloomberg technology reporters with the Tech Newsletter Bundle subscription. Includes the subscriber-only newsletters Tech In Depth, Power On, Q&AI, Game On and Soundbite and paywall-free access to the links in them.
Subscribe now

Hi, you're receiving our free Tech In Brief newsletter because you had been getting one of Bloomberg's technology newsletters that are now subscriber-only. You can manage your subscriptions here.

Tech Across the Globe

Netflix beat: The world's most popular paid streaming service reported quarterly results that topped investor expectations in every major metric. Still, the shares declined in extended trading amid concerns of slowing user growth.

Forex threat: Chipmaker TSMC cautioned that currency volatility is a "big uncertainty" for its margins, forcing the company to constantly review its hedging strategies.

Uber's self-driving deal: Uber is teaming up with EV maker Lucid and autonomous-vehicle tech startup Nuro to launch a robotaxi fleet. The ridesharing leader ultimately plans to deploy at least 20,000 of the vehicles over six years.

Revalued

Lovable, a Swedish artificial intelligence startup that streamlines software development, raised $200 million in its latest funding round, bringing its valuation to $1.8 billion. Substack similarly announced a fundraising round Wednesday that brought its value to $1.1 billion.

Must Read

The chase for the most talented AI software engineers has yielded multimillion-dollar pay packages, most recently highlighted by Meta's poaching of Apple's LLM leader, Ruoming Pang. Bloomberg's Vlad Savov looks at the implications for the wider industry, where layoffs are rising as quickly as the top talent's pay, in today's Tech In Depth essay.