Morning Scan

Meta is laying off 10% of its workforce today — the same day Bloomberg drops a deep dive on the company's $200B+ Louisiana data center campus. The AI buildout is both the reason for the cuts and the thing being built with them. Musk's OpenAI lawsuit ended quietly, and Google I/O left observers wondering whether the company is already pricing in the post-token-glut hangover.

$200B+ — Meta's projected spend on its Hyperion data center campus in Louisiana, which is expected to reach 5 GW of compute capacity. (Bloomberg)

Connected World

Meta Is Reassigning 7,000 Workers to AI Units — and Laying Off 10% Today

The internal memo makes clear this is a forced reorganization around four new AI-focused divisions, effective today. (New York Times)

Meta's $200B Hyperion Campus Is the Physical Bet Behind All of It

Five gigawatts of compute capacity in a single campus — at that scale, the layoffs read as operational rounding errors. (Bloomberg)

Musk Lost. OpenAI Speeds Up.

The jury's quick dismissal of the $150B lawsuit removes legal uncertainty that had shadowed OpenAI's conversion to a for-profit structure. (New York Times)

Connected World

Moonshot AI Ditches VIE Structure for Hong Kong IPO

The $20B Kimi developer is unwinding its variable-interest-entity structure after Beijing signaled it prefers Chinese AI champions to list closer to home. (The Next Web)

Monzo Revenue Up 39%, Profit Up 44% — and It's Still Growing

Fifteen million users, £25.7B in deposits, and expanding into lending: the neobank once dismissed as a curiosity is now a serious financial institution. (Bloomberg)

Analog Devices Nears $1.5B Deal for Empower Semiconductor

Voltage regulation chips aren't glamorous, but they're everywhere in AI data centers — which is exactly why this deal makes sense right now. (Bloomberg)

Mistral Acquires Austrian Physics-AI Startup Emmi

Mistral is buying its way into European industrial AI, adding Emmi's capabilities to build a harder-to-replicate enterprise position. (Reuters)

Connected World

NYC Health + Hospitals Breach Hit 1.8M People — Including Fingerprints

Hackers were inside the network for three months; medical records and biometric data at this scale means the damage is essentially permanent for those affected. (TechCrunch)

A CISA Contractor Left AWS GovCloud Credentials on GitHub

The agency responsible for US cybersecurity had its own cloud credentials exposed in a public repo — the investigation is ongoing. (Krebs on Security)

The FBI Wants Nationwide Access to License Plate Readers

Procurement records show the bureau is shopping for a single vendor — likely Flock or Motorola — to enable real-time vehicle tracking across the entire country. (404 Media)

Google Maps Was Showing Pre-Wildfire Satellite Images of LA Before the Election

Whether the imagery rollback was accidental or deliberate, the timing was bad and the optics worse — Altadena residents noticed. (SFist)