Ahead of its upcoming IPO, SpaceX announced that Google will pay the company $920 million per month for access to roughly 110,000 Nvidia GPUs and related compute infrastructure. Google says the agreement is short-term "bridge capacity" to meet stronger-than-expected demand for Gemini Enterprise, while SpaceX is using deals like this and its Anthropic contract to bolster its pitch for a historic public offering. TechCrunch reports: The deal is similar in length and scope to the one SpaceX announced with Anthropic in late May. As part of that deal, Anthropic agreed to pay SpaceX $1.25 billion per month through 2029 to rent all the available compute from its Colossus 1 data center near Memphis, Tennessee that xAI -- now part of SpaceX -- originally built for its own artificial intelligence efforts. Google's deal appears to be paying for roughly half the amount of compute that Anthropic has access to at Colossus 1. SpaceX didn't say which specific data center Google would be using. CEO Elon Musk has previously suggested his company would reserve the Colossus 2 data center for xAI. Anthropic was significantly limited in its compute capacity prior to its deal with SpaceX, raising usage limits on the same day the deal was announced. Google is in a very different position, with some estimates naming it as the world's largest single owner of AI compute. [...] Also like the Anthropic deal, the agreement with Google includes a cancellation clause. Both SpaceX and Google have the option to terminate the agreement with 90 days notice after December 31, 2026. Google's access to the data center will ramp up "through September at a reduced fee," according to the filing. "If we fail to deliver access to the committed amount of GPUs by September 30, 2026, then following a one-month grace period, Google may immediately terminate the agreement or accept the number of GPUs provided" with a reduction in the monthly fees, it reads.

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schwit1 shares a report from NJ.com: Samsung is pulling up stakes in New Jersey and heading to Texas, a move that could leave roughly 1,000 Garden State workers facing a stark choice: relocate or risk losing their jobs. The South Korean tech giant confirmed this week that it will move its US headquarters from Englewood Cliffs, NJ, to its existing campus in Plano, Texas, marking a stunning reversal less than a year after it celebrated the opening of a new headquarters in Bergen County. The relocation is expected to be completed by the end of the year, according to company statements. "Samsung Electronics America Inc. is undergoing a business transformation designed to better position our organization for long-term growth and future success. As part of this effort, we are relocating our U.S. headquarters from New Jersey to our existing campus in Plano, Texas, building on our 30-year presence in the state," said Samsung in a statement emailed to NJ.com on Tuesday. "As part of this strategy, we will be optimizing parts of the organization to ensure our roles and functions align to key business priorities. We recognize such adjustments will have an impact on our people and we will be providing support to those affected," it continued.

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Anthropic says it has confidentially filed an IPO prospectus with the SEC, "setting up a potentially historic share sale for investors ready to jump into artificial intelligence," reports CNBC. The move puts Anthropic ahead of OpenAI's expected filing and follows explosive reported growth, a massive new valuation, major infrastructure deals, and ongoing tensions with the Pentagon over its models. From the report: "This gives us the option to go public after the SEC completes its review," Anthropic said in a statement on Monday. "The proposed initial public offering will depend on market conditions and other factors." Submitting a confidential prospectus doesn't lock Anthropic into a certain timeframe for going public. Its official prospectus just has to land in the hands of investors at least 15 days before the company begins a roadshow. [...] The company has experienced explosive growth this year, announcing in May that its revenue run rate has ballooned to $47 billion, up from $10 billion in annual revenue last year. Last week, it closed a funding round at a $965 billion valuation, topping OpenAI, which was valued at $852 billion in late March.

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Amazon's "Subscribe & Save" program — for recurring purchasees — has triggered a new lawsuit, reports Oregon Live. "The lawsuit contends that after luring in customers with 'artificially low prices,' the world's biggest online retailer jacked up the prices in the months after their first shipments arrived." In some cases, the lawsuit claims that customers were paying more for the exact same items through the Subscribe & Save program than they would be if they bought the items from other sellers on the site. That was true even when the up to 15% discount that the subscription program offers was calculated into the final purchase price, according to the suit. The Seattle law firm that filed the May 15 lawsuit says that Amazon's business practices amount to "deceptive," "misleading" and "bait and switch tactics." The firm is seeking class-action status in U.S. District Court for western Washington, a move that could potentially draw tens of millions of Amazon customers from across the U.S. into the litigation... [The suit says the plaintiffs' first order of espresso coffee grounds was $16.60.] When their order auto-renewed a few months later, the price had gone up to $17.04. A few months later, it rose to $21.25. Then in October 2024, the price increased to $28.69 — about $12 more than the Hermans had paid at the beginning of their subscription, according to the lawsuit. [The discount can be as little as 5% or up to 15%, Amazon told Oregon Live in a statement, noting customers do receive an email showing "applicable savings" before the orders ship. But...] The suit says Amazon gave the Hermans little notice to cancel the order or to shop around because it notified them of the latest price increase in an email at 8:54 p.m. — the same night it processed their order and charged them. The suit says if the Hermans had been given the time to shop around for a better price, they would have found that another Amazon seller was charging $25.90 — or $2.79 less — for the identical item. Amazon's "Subscribe & Save Terms & Conditions" page tells customers that it "may change the price for a Subscribe & Save subscription at any time for any reason...." The analytical group Consumer Intelligence Research Partners says about 25% of U.S. Amazon customers are enrolled in the Subscribe & Save program. Oregon Live got Amazon's response, which suggested their program saves customers time and money "through convenient, flexible, and recurring deliveries". (So when customers saw "Subscribe and Save", they were perhaps supposed to intuit the word save referred in part to... time-saving?) The plaintiffs' lawyer argues instead that "When you sign up for something that is called 'Subscribe & Save,' you'd expect that you're saving by subscribing. But that's not actually what's happening in many cases."

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Dell's stock skyrocketed 32.76% on Friday, "its best day ever," reports CNBC, after Dell "reported its fastest pace for revenue growth for any period since returning to the public market in 2018..." "Shares are now up 234% in 2026." Dell, which reported first-quarter earnings after the bell on Thursday, saw a flood of artificial intelligence-related demand for its servers, which contain graphics processing units from companies like Nvidia. Quarterly revenue soared nearly 88% year over year, with AI server revenue alone increasing 757% from a year earlier to $16.1 billion... Ben Reitzes, head of technology research at [research/investment firm] Melius, said he'd "never seen anything like" Dell's latest quarter. "They beat every line in the model, so this wasn't just AI, it was great execution," Reitzes told CNBC's "Squawk on the Street." "They beat whatever we would've thought...." Morgan Stanley wrote that while they expected a clean beat and raise this quarter, they're "eating our humble pie" off the back of Dell's results. "We got this one wrong, and our model/PT are under review," the analysts wrote. "This was — across the board — one of the most impressive quarters we've seen in our time covering Hardware, especially in the context of what is happening across the component universe."

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Wix is laying off roughly 20% of its workforce, about 1,000 employees, as CEO Avishai Abrahami cites both the rapid evolution of AI and currency pressure from a stronger Israeli shekel against the dollar. The web developer joins a growing list of tech companies making similar cuts, including Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, Oracle and Intuit. Fast Company reports: "We have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s," [wrote Abrahami]. "This is not just about adopting new tools -- it is about rewiring how companies are built, how they think, how they manage, and how they operate. Companies that embrace this change will not only build faster; they will build things the previous generation literally could not have imagined." Abrahami also cited the poor exchange rate between the Israeli shekel and the U.S. dollar. The Israeli currency has significantly strengthened in the past few quarters against a weakening dollar, and the shekel is up nearly 30% against the greenback over the last year. "As the majority of our teams are Israel-based, a very meaningful portion of our costs are shekel-denominated, while our revenue is largely dollar-denominated," Abrahami explained on X. "This creates a structural pressure on our ability to operate at our current scale. It is a reality that directly shapes what is sustainable for our company."

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Nvidia CEO Jensen Huang says the company plans to spend around $150 billion a year in Taiwan, calling it the "epicenter of the AI revolution." "Four years ago, five years ago, Nvidia was spending about $10, $15 billion dollars a year in Taiwan. Now we're spending $100, going to $150 billion dollars in Taiwan each year," Huang said. Reuters reports: Huang was speaking at a launch celebration in Taipei for the chip company's planned Taiwan headquarters, which he said will break ground this year and aims to become operational in 2030. He did not provide a timeframe for the number of years the company plans to invest $150 billion. The Taiwan headquarters will bring Nvidia closer to TSMC, the world's largest contract chipmaker which makes many of the advanced semiconductors powering the trend towards AI and is a major supplier to the U.S. tech company. "Taiwan is booming," Huang said on stage at the celebration which was attended by his parents, wife, daughter and son in addition to around 1,000 employees. "Taiwan is the epicentre of the AI revolution. This is where the chips come, packaging comes, this is where the systems are made, this is where AI supercomputers were created. The number of partners we work with here in Taiwan, incredible."

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Dropbox founder Drew Houston is stepping down as CEO after 19 years and will become executive chairman, with product chief Ashraf Alkarmi set to take over after a co-CEO transition period. CNBC reports: Drew Houston founded Dropbox nearly two decades ago at age 24, eventually becoming a household name in Silicon Valley and the first tech entrepreneur to take a company from the Y Combinator incubator program all the way to the public market. Now, at 43, Houston is ready to do something else. [...] By almost any measure, Houston has had a great run at Dropbox, helping pioneer the cloud storage market, competing head-to-head with Google and Apple and building a net worth of more than $2 billion, thanks to substantial ownership in his company. But in the land of outsized expectations, Houston has overseen a company that peaked too soon and never became a generation-defining brand. Dropbox's current market cap of just over $6 billion is down by half from the high price on its first day of trading in 2018, and is below the $10 billion valuation it was ascribed by private market investors in 2014. [...] In its latest quarterly earnings report, Dropbox said it has more than 18 million paying users, and the service remains popular with media professionals, graphic designers, architects, and others who share files and photos as part of their daily work. "Part of me has always thought, oh yeah, I'll be the CEO of Dropbox until my last gasp of my career," he said. "There's never a perfect time, there was no part of me where I was like, 'oh, this date is the date where it's going to happen.'" Since Alkarmi joined Dropbox from Vimeo in late 2024, the company has "become a lot more responsive to our customers and is taking bigger swings on innovation," Houston said. "I trust the right leader," he said. "The company's in the right place."

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Samsung is reportedly set to pay chip-division workers an average bonus of about $340,000 after reaching a tentative deal with its union, according to Bloomberg (paywalled). The deal ended a standoff that "could have cost the economy as much as 1 trillion won ($658 million) daily, with losses potentially multiplying to 100 trillion won ($68 billion) if in-progress semiconductor wafers were rendered unusable," reports Quartz. From the report: The agreement, subject to a union ratification vote running May 22 through May 27, calls for Samsung to direct 10.5% of operating profit into stock bonuses along with a separate 1.5% cash component, according to Bloomberg. The program runs for 10 years, contingent on the company meeting profit thresholds. One-third of the stock award can be liquidated right away, with the rest parceled out in installments across the next two years, Bloomberg reported. The first payout is expected in early 2027. Not all workers will fare equally. As an illustration, Reuters cited a union source estimating that someone in the memory chip unit earning an 80-million-won base salary could take home roughly 626 million won in total bonuses this year. By comparison, workers at SK Hynix stand to collect upward of 700 million won should their employer post annual profit of 250 trillion won, Reuters calculated. Unlike at Samsung, SK Hynix employees are not limited to stock payouts and may instead opt for cash, Reuters reported.

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SpaceX has revealed its financials for the first time as it prepares for a potentially massive IPO. The New York Times reports: SpaceX's revenue soared to $18.7 billion in 2025, up 33 percent from a year earlier, the company disclosed in a filing required of firms that are seeking to go public. In the first three months of this year, revenue rose to $4.7 billion from $4.1 billion in the same period a year ago. But the company lost more than $4.9 billion last year, compared with a $791 million profit in 2024, as capital expenditures nearly doubled to $20.7 billion from heavy spending on artificial intelligence development. In the first three months of this year, SpaceX lost almost as much money as all of 2025, recording a $4.3 billion loss.

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Intuit is reportedly cutting about 3,000 jobs, or 17% of its workforce, as it restructures around AI and simplifies its corporate organization. TechCrunch reports: The layoffs come during a bad year for the tech workforce. The tech industry has already cut more than 100,000 jobs this year, per Statista, and is on track to outpace both 2024 and 2025 if the layoff trend continues. Companies such as Amazon, Block, Cisco, Cloudflare, Meta, Microsoft, and Oracle have let go of thousands of employees each, all of them citing a need to refocus expenditures around AI projects as a reason to cut jobs and restructure their organizations. [...] Intuit, however, hasn't been perceived as a beneficiary of the AI boom, with its shares consistently underperforming in the broader S&P 500 over the past 12 months. The company has been caught up in the broader current of worries that traditional software-as-a-service firms will not be able to keep up or compete, as new and upcoming AI products and services threaten to change how software is developed and how it is used. In its fiscal second quarter ended January, Intuit reported revenue of $4.65 billion, a 17% increase, and net profit of $693 million, a 48% improvement compared to a year earlier. The company expects revenue to increase by about 10% in the third quarter, for which it will report results later today.

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An anonymous reader quotes a report from Inside Climate News: A proposed merger of the largest utility in the country by market value, NextEra Energy, with the sixth-largest, Dominion, would create a megacompany at a time when data centers and rapid increases in electricity demand are reshaping the industry. The proposal, announced Monday morning and contingent on state and federal regulatory approval, would result in a company that leads in nearly every aspect of the US power and utility industry, including overall electricity generation, natural gas generation, and renewables. The $67 billion deal combines NextEra's size and reach with Dominion's positioning as the local utility for the world's largest concentration of data centers in northern Virginia. But the results are likely bad for consumers and the environment, creating a company with enormous financial and political strength that will be difficult to effectively regulate, according to consumer advocates and analysts. For perspective, only Exxon Mobil and Chevron would be larger based on market value among US-based energy companies. "Mergers are not about consumers; they're about shareholders," said Ari Peskoe, director of the Electricity Law Initiative at Harvard Law School. "For the Dominion shareholders, they are selling their shares at a premium. The executives are getting massive payouts for facilitating this, assuming it all goes through, and obviously NextEra believes the transaction is going to add value to the company. Ratepayers are all an afterthought." The deal makes financial sense for both companies, said Andrew Bischof, an equity analyst for Morningstar. "We view the transaction as allowing NextEra to accelerate its data center ambitions, which had trailed those of its regulated peers, by using Dominion's expertise and relationships to expedite NextEra's data center hub plans," he said in a note to clients. NextEra, based in Juno Beach, Florida, includes Florida Power & Light, the largest regulated electricity utility in the state, and NextEra Energy Resources, a wholesale electricity supplier that owns power plants across the nation. Dominion, based in Richmond, Virginia, includes regulated utilities serving much of Virginia, parts of North Carolina and South Carolina, and other assets across the country. The company would be called NextEra Energy, and NextEra CEO John W. Ketchum would serve in the same role after the deal closes. Robert M. Blue, Dominion's CEO, would be the CEO for regulated utilities for the merged company. The parties said they expect regulatory approvals to take 12 to 18 months. NextEra shareholders would own 74.5 percent and Dominion shareholders would own 25.5 percent, respectively, of the combined company in the all-stock transaction. "We are bringing NextEra Energy and Dominion Energy together because scale matters more than ever -- not for the sake of size, but because scale translates into capital and operating efficiencies," Ketchum said in a statement. Although the companies claim the deal would produce savings, including $2.25 billion in Dominion customer bill credits, former regulator Marissa Paslick Gillett said she was "flabbergasted by the tone deafness," arguing that major utility mergers rarely deliver the promised "synergies" and often create "a behemoth" that is harder to regulate. Others warned that a larger NextEra could use its political power "to the disadvantage of ratepayers," while climate advocates said expanding methane gas plants to serve data centers would worsen pollution and leave vulnerable communities "at the short end of the stick."

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OpenAI co-founder Andrej Karpathy has joined rival AI lab Anthropic. "The hire is a major coup for Anthropic in the high-stakes competition for elite AI talent -- and another sign the company is emerging as a magnet for some of the industry's most respected technical minds," reports Axios. From the report: Karpathy will start this week on Anthropic's pre-training team, which is responsible for the massive training runs that give Claude its core knowledge and capabilities, according to Anthropic. Karpathy will help launch a new team focused on using Claude itself to accelerate pretraining research -- an increasingly important frontier as AI companies race to automate parts of AI development. "I think the next few years at the frontier of LLMs will be especially formative. I am very excited to join the team here and get back to R&D," Karpathy said in a post on X. Karpathy is a rare AI figure with credibility across research, industry and education. He was a founding member of OpenAI before serving as Tesla's director of AI, where he led the computer vision team behind Autopilot. Karpathy coined the term "vibe coding" and recently described himself as being in a "state of AI psychosis" since December -- embracing "tokenmaxxing" and aggressively stress-testing frontier models.

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The London-headquartered lender Standard Chartered announced plans to cut more than 7,000 jobs by 2030, with CEO Bill Winters saying the bank will replace some "lower-value human capital" through automation and AI while offering retraining to affected workers. "It's not cost-cutting. It's replacing in some cases lower-value human capital with the financial capital and the investment capital we're putting in," CEO Bill Winters told reporters. "So, the people that want to reskill, that want to carry on, we're giving every opportunity to reposition," Winters said. Reuters reports: The cuts, alongside higher shareholder return targets announced in a strategy update, come as StanChart is at the tail-end of a decade-long effort to transform itself from a potential takeover target to a steadily profitable lender. Its London-listed shares, which have risen 65% in the last 12 months, fell 0.5% in early trading, as analysts said the new targets were at the conservative end of their expectations. "In a world full of uncertainty, performance may prove more challenging further out," said Ed Firth, analyst at Keefe, Bruyette & Woods, citing how the bank has benefited in recent years from high interest rates and huge wealth flows. StanChart's move to streamline operations and rein in costs comes as more global firms slash jobs by deploying AI to improve efficiency. Japanese lender Mizuho in March unveiled up to 5,000 job cuts over a decade. And banks globally are scrambling to integrate frontier AI models and fend off rising cyber threats. The most affected roles will be in the bank's back-office centres, including those in Chennai, Bengaluru, Kuala Lumpur and Warsaw, according to Winters. "Of course we're using AI along the way and AI will be a huge facilitator and enabler of that," he added, referring to its ongoing revamp to automate more of its core banking system. StanChart said it would deliver over 15% return on tangible equity in 2028, more than three percentage points higher than in 2025, and building to about 18% in 2030. Meta also announced plans to reassign 7,000 employees into AI-related initiatives, just ahead of layoffs expected to affect roughly 8,000 workers.

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An anonymous reader quotes a report from the New York Times: Meta told employees on Monday that it was reassigning 7,000 workers to focus on new initiatives around artificial intelligence, the latest change in a company transformation spurred by the powerful technology. Employees will be moved to four new organizations focused on building new A.I. tools and apps, Janelle Gale, Meta's head of human resources, said in an internal memo. The organizations will use "A.I. native design structures" and have fewer managers per employee than other parts of the company, she said, adding that company leaders will send details about the new roles on Wednesday. The restructuring "will make us more productive and make the work more rewarding," Ms. Gale wrote. Meta declined to comment further on the changes. The move comes shortly before Meta begins laying off roughly 8,000 employees, or 10 percent of its work force. Ms. Gale also mentioned Wednesday's layoffs in her memo. "We know days like this are extremely hard, and we appreciate you showing up for each other," Ms. Gale said. According to the NYT, employees have been asked to work remotely that day and emails about the layoffs would be sent at 4 a.m. local time. Employees in the United States will receive 16 weeks of severance pay, along with two extra weeks for every year they worked at Meta.

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Cisco's stock soared 17% after the company announced it will cut nearly 4,000 jobs as it shifts investment and staffing toward higher-growth AI opportunities. CNBC reports: CEO Chuck Robbins wrote in a blog post on Wednesday that the latest round of job cuts will begin on May 14. Cisco is the latest company to announce head count reductions tied to AI. "The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest," Robbins said. "I'm confident Cisco will be one of those winners. This means making hard decisions -- about where we invest, how we're organized, and how our cost structure reflects the opportunity in front of us." Cisco said in a filing that severance and other costs will result in pre-tax charges of $1 billion, and that the company will recognize about $450 million of that in the fiscal fourth quarter. During the third quarter, Cisco announced switches and routers that use its next-generation processor. The company also debuted a leaderboard for ranking generative AI models based on their robustness against cybersecurity attacks.

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An anonymous reader quotes a report from Reuters: EBay on Tuesday rejected a $56 billion takeover bid from the much smaller GameStop over financing doubts, calling the proposal "neither credible nor attractive." EBay, which has roughly four times GameStop's market value, also underscored that its turnaround efforts under CEO Jamie Iannone have boosted growth, with its stock returning 201% since Iannone took the position six years ago. "We have concluded that your proposal is neither credible nor attractive," eBay Chairman Paul Pressler said in a statement. "eBay's Board is confident the company, under its current management team, is well-positioned to continue to drive sustainable growth." He also pointed to concerns with GameStop's bid, including its financing, its impact on eBay's long-term growth and the leadership structure of a potentially combined company. Last week, GameStop's CEO Ryan Cohen delivered one of the most memorable CNBC interviews in recent memory... initially disinterested, then increasingly hostile, with little eye contact, few real answers to basic questions, and repeated robotic deflections to "check the website." It's worth a watch if you have a few extra minutes.

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GM is laying off about 500 to 600 salaried IT workers, mainly in Austin, Texas, and Warren, Michigan, as it restructures its technology organization and trims costs. "GM is transforming its Information Technology organization to better position the company for the future. As part of that work, we have made the difficult decision to eliminate certain roles globally. We are grateful for the contributions of the employees affected and are committed to supporting them through this transition," the automaker said in an emailed statement. CNBC reports: GM reported employing about 68,000 salaried workers globally as of the end of last year, including 47,000 white-collar employees in the U.S. Despite Monday's cuts, GM still is still hiring IT workers. The company has 82 open IT positions that include positions working in artificial intelligence, motorsports and autonomous vehicles, according to the automaker's careers website.

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This week Amazon opened up its parcel shipping, fulfillment, and distribution "to businesses of all types and sizes." Any business can now ship, store, and deliver "using the same supply chain that supports Amazon," according to Monday's announcement of "Amazon Supply Chain Services." The move sent shares of UPS and FedEx "tumbling" Monday writes GeekWire. And though both stocks bounced back as the week went on, GeekWire sees this as the latest example of Amazon "turning its internal capabilities into products and services for sale..." "Amazon had already surpassed both carriers to become the nation's largest parcel shipper by volume, according to parcel-analytics firm ShipMatrix." Initial customers include Procter & Gamble, which is using Amazon's freight network to transport raw materials; 3M, which is using it to move products to distribution centers; Lands' End, which is fulfilling orders across sales channels from Amazon's warehouses; and American Eagle Outfitters, which is using Amazon's parcel service for last-mile delivery. The service can fulfill orders placed through platforms that compete with Amazon's own marketplace, including Walmart, Shopify, TikTok, and others... Peter Larsen, vice president of Amazon Supply Chain Services, compared the launch to the origins of Amazon's cloud business... In addition to putting Amazon in competition with existing players in the logistics industry, the move also raises questions about data privacy. Amazon has faced accusations of using nonpublic seller data to compete against merchants on its marketplace, which it has denied. Larsen told the Wall Street Journal that the company prohibits using supply chain customer data for its own marketplace decisions, noting that hundreds of thousands of Amazon sellers already trust the company to fulfill orders placed on rival platforms. The article notes taht in his annual shareholder letter Amazon's CEO "said the company is also exploring selling its custom AI chips and robotics to outside customers."

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Longtime Slashdot reader cellocgw writes: Hiding inside another layoff report, Fidelity is reorganizing: "The changes are aimed at moving the teams away from an 'agile' makeup -- comprising smaller, siloed squads -- and toward larger teams built to move faster on projects." OMG, as they say: "Sudden outbreak of common sense." According to the Boston Globe, Fidelity is cutting about 1,000 jobs even as it plans to hire roughly 5,300 new workers, many of them early-career engineers. Half of the 3,300 new workers hired this year "will be in tech or product-related roles," the report says, noting that "about 2,000 of those jobs are currently open, and 400 of them are in tech/product-delivery." "The company also plans to add almost 2,000 new early-career workers, with the goal of making the tech and product-delivery teams more hands-on. In all, that means roughly 5,300 new jobs in the pipeline for Fidelity." The company says AI isn't driving the shift; as cellocgw noted, it's about moving toward larger teams that Fidelity says can move faster on priority projects. The financial services firm also reported a strong 2025 under CEO Abigail Johnson, with managed assets rising 19% from 2024 to $7.1 trillion and revenue climbing 15% to $37.7 billion. "Throughout the company's history, our investments in technology have fueled our growth and customer service capabilities," Johnson wrote in a letter (PDF) included in the company's annual report. "We will continue to prioritize technology initiatives that help us advance digital capabilities, simplify our technology ecosystem, and protect the firm and our customers."

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