The company said it is reducing its headcount by 20%, or about 630 staff, to "support a leaner, more focused operating model" as it focuses on its AI Work Platform.

Applied Computing has raised a $20M Series A to build a foundation AI model for the oil, gas and petrochemical industry.

The company is taking a modular approach to designing these chips, anticipating that their needs will change as AI evolves rapidly by the time the chips are in production.

Blue Origin is raising $10 billion at a $130 billion pre-money valuation from Coatue Asset Management, Bezos himself, and other big-name investors, The New York Times reported.