Government Contractors Recruit Fewer Prospects
Thousands of private government consultants laid off during the Trump administration's cost-cutting crusade are increasingly flooding a shrinking labor market. Bloomberg's Rachel Phua has more on the story.
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Yahoo
31 minutes ago
- Yahoo
Circle stock extends rally for third day in a row as stablecoin momentum grows
Circle stock (CRCL) rallied for a third day in a row on Monday as investor enthusiasm over stablecoins continued to surge. Shares jumped as much as 20% before paring gains, building on an 80% rally last week after the Senate passed legislation that provides a federal framework for stablecoins, which are digital tokens backed by assets such as the US dollar. Wall Street strategists also pointed to deal-making in the digital asset space as another tailwind for the issuer of USDC stablecoins (USDC-USD). On Monday, fintech firm Fiserv (FI) announced plans to launch a digital asset platform, including a new stablecoin (FIUSD) by the end of this year using existing infrastructure from issuers Paxos and Circle. "For CRCL, we like seeing its inclusion as a leading partner of FI as FI develops its own stablecoin - this is a nice 'win' for CRCL which highlights the company's ongoing rise," Seaport Research Partners analyst Jeff Cantwell wrote in a note on Monday. Last week, Cantwell initiated Circle with a Buy rating and a price target of $235. Shares are up more than 800% from their IPO price of $31 on June 5. "We view Circle as a top-tier crypto 'disruptor' with a sizeable future opportunity," Cantwell wrote last Friday, noting that the company will benefit from an improving regulatory climate in the US. The stock surged last Wednesday following the Senate's passage of the GENIUS Act, legislation which Wall Street expects to be passed by the House and signed by the President this year. "Circle's success isn't just about one company doing well," said Anthony Georgiades, founder of Innovating Capital, a firm focused on early-stage investments across crypto, AI, and deep tech. "It's a clear validation of stablecoins as a core piece of the digital asset ecosystem and shows that crypto is gaining legitimacy with the broader financial world," he added. Read more about Circle's stock moves and today's market action. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
Yahoo
31 minutes ago
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Snowcap Compute Launches with $23 Million Led by Playground Global to Power the Next Era of AI and Quantum Compute
Superconducting startup aims to expand the limits of silicon PALO ALTO, Calif., June 23, 2025--(BUSINESS WIRE)--Snowcap Compute, a startup building the first commercially viable superconducting compute platform, today launched with $23 million in seed funding led by Playground Global. Engineered for extreme performance and energy efficiency, Snowcap's architecture enables a new class of data centers optimized for AI, quantum, and high-performance computing (HPC). The platform delivers the performance and efficiency needed to power advanced AI inference and training, as well as HPC and quantum-classical hybrid workloads. "We're building compute systems for the edge of what's physically possible," said Michael Lafferty, CEO, Snowcap. "Superconducting logic lets us push beyond the limits of existing CMOS technology, achieving orders-of-magnitude gains in processing speed and efficiency. That performance is essential for the future of AI and quantum computing." Snowcap is led by an exceptional team of silicon industry veterans with extensive scientific, technical and operational experience. In addition to Lafferty, whose tenure as director of Cadence's "More than Moore" engineering group focused on pioneering superconducting and quantum technologies, the founding team includes Chief Science Officer Anna Herr, Ph.D., and Chief Technology Officer Quentin Herr, Ph.D., who are globally recognized as the foremost researchers in practical superconducting computers with key roles at Northrop Grumman and imec. Joining Mike, Anna, and Quentin is a roster of deep tech Silicon Valley veterans, including advisors Brian Kelleher, former SVP of GPU engineering at NVIDIA, and Phil Carmack, former VP of silicon engineering at Google. "Snowcap represents a rare opportunity to realize dramatic performance and power efficiency gains," said Pat Gelsinger, General Partner at Playground Global and Chair of the Board at Snowcap. "Reimagining a post-CMOS world from the ground up with the most capable and experienced team in superconducting technology is exactly the kind of breakthrough that Playground was built to enable. The implications for AI, quantum and HPC are both thrilling and profound." Built on decades of research and development, Snowcap's platform is engineered to support next-generation quantum and low-temperature compute systems, enabling exceptional speed, efficiency and low latency. Snowcap has also solved the key engineering challenges that have prevented superconducting technology from reaching broad commercialization in the past, including scaling, fab compatibility, EDA challenges, and system architecture issues. Joining Playground in this seed round are Cambium Capital, which specializes in compute and deep tech investments, and Vsquared Ventures, a European firm with a strong track record in international semiconductor investing. About Snowcap Snowcap is building the first commercially viable superconducting compute platform — designed to deliver dramatic gains in speed and energy efficiency for AI, quantum, and high-performance computing. Founded by a team of experts in superconducting logic, digital architectures, and systems engineering, Snowcap is rethinking classical compute for the age of cryo and quantum infrastructure. Learn more at About Playground Global Playground Global is a deep tech venture capital firm with $1.2 billion under management, backing early-stage startups solving foundational challenges in next-generation compute, automation, energy transition, and engineered biology. Founded in 2015 and based in Palo Alto, Playground partners closely with technical and scientific founders to turn breakthrough ideas into lasting companies. Portfolio highlights include PsiQuantum, MosaicML (acquired by Databricks), d-Matrix, Agility Robotics, Ideon, Ultima Genomics, and Strand Therapeutics. Learn more at View source version on Contacts Steve Smithssmith@
Forbes
33 minutes ago
- Forbes
American Manufacturing Revival & The Skills Gap
Addressing the skills gap A few weeks ago, I had the honor of welcoming supply chain and manufacturing leaders to the inaugural U.S. Manufacturing and Revitalization Summit. This gathering underscored a pivotal moment in American industry—a manufacturing resurgence fueled by strategic investments and reshoring efforts. While this is certainly driven by legislation like the CHIPS and Science Act and the Inflation Reduction Act, tariffs are clearly having an impact here. According to the 10th Annual State of Manufacturing and Supply Chain Report, the vast majority of manufacturing and supply chain leaders consider onshoring critical to their overall supply chain strategy. Onshoring strategy Prior to the new U.S. Administration, the same leaders were incresaingly concerned about global trade tensions and tariffs. Growing global business uncertainty Investments in U.S. Manufacturing Despite these concerns, recent years have seen a dramatic uptick in U.S. manufacturing activity. According to the National Association of Manufacturers (NAM), investment in construction for manufacturing projects hit record highs in 2023, especially in sectors like semiconductors, clean energy, and electric vehicles. Major brands like GM, Intel, Samsung, Honda, and Ford are constructing or expanding domestic manufacturing plants. Apple is reconfiguring supply chains to rely less on China. Kraft Heinz recently announced a $3 billion investment in U.S.-based manufacturing—their largest in decades. These moves signal that U.S. manufacturing isn't just reviving; it's repositioning for long-term strategic growth. But what's especially striking is how this growth reflects a broader shift in the global economy. Companies are no longer simply chasing low costs abroad—they're looking for stability, reliability, and resilience. This has made manufacturing a national priority once again and brought renewed focus to one of the sector's most stubborn challenges: labor shortages. Despite the surge in manufacturing investments, the industry faces a daunting talent shortage. A study by Deloitte and The Manufacturing Institute projects that 2.1 million manufacturing jobs could go unfilled by 2030 due to a lack of skilled labor. This gap is not merely a numbers issue; it's about the evolving nature of manufacturing roles. Modern manufacturing demands proficiency in areas like CNC machining, robotics, and automation. However, outdated perceptions persist, painting manufacturing as low-tech and low-paying. This misalignment deters younger generations from pursuing careers in the sector, exacerbating the talent shortage. Formula Electric Berkeley Team To bridge the skills gap, it's imperative to reshape the narrative around manufacturing. Today's manufacturing environments are clean, technologically advanced, and offer lucrative career paths without necessarily requiring a four-year degree. Partnerships between industry and educational institutions play a crucial role in this transformation. Programs like Formula Electric at Berkeley exemplify this synergy. With support from companies like Fictiv, engineering students design and build electric vehicles, gaining hands-on experience in advanced manufacturing. These initiatives not only equip students with practical skills but also showcase the innovative nature of modern manufacturing. Green manufacturing and cleantech clearly resonate with the next generation's focus on meaningful work and environmental impact (90% of Gen Z and Millennials believe it's essential that their work reflects these values). The rise of automation and AI in manufacturing is often viewed with apprehension. However, automation should be seen as a tool that complements human labor rather than replacing it. By automating repetitive tasks, workers can focus on more complex, value-added activities. AI is already integrated into central manufacturing tasks, including inventory management, quality control, and product design. AI advances Moreover, the integration of AI and automation creates new roles, such as robotics technicians and systems analysts, requiring a blend of technical and digital skills. Investing in training programs to develop these competencies is essential to ensure that the workforce evolves alongside technological advancements. Global Lessons: Building a Resilient Workforce Looking globally, countries like Germany and India have successfully implemented apprenticeship and vocational training programs aligned with industry needs. These models offer valuable insights for the U.S. in developing a robust manufacturing workforce. In the U.S., companies like Siemens are pioneering inclusive workforce development strategies. At their Fort Worth facility, Siemens has created hundreds of jobs, focusing on training individuals without prior factory experience through innovative programs led by former educators. Such approaches highlight the potential of comprehensive training programs in addressing the skills gap. Supply Chain Strength Through Regional Flexibility One often-overlooked aspect of the labor story is geography. The U.S. manufacturing resurgence isn't happening in just one location—it's unfolding across a distributed network of regional hubs. This regional diversification plays a critical role in helping companies manage labor shortages. By operating across multiple locations (like China, Mexico, and India), manufacturers can better align talent strategies with regional strengths. Some regions might be ideal for high-mix, low-volume prototyping, while others excel in large-scale production or access to specific skill sets. The Path Forward: A Collaborative Effort Addressing the manufacturing skills gap requires a concerted effort from industry, education, and government. Key strategies include: Modernizing education. Integrate advanced manufacturing topics into curricula and promote STEM education to prepare students for modern manufacturing roles. Public-private partnerships. Foster collaborations between companies and educational institutions to provide hands-on training and real-world experience. Reskilling and upskilling. Implement programs to continuously develop the skills of the existing workforce and adapt to technological perceptions. Launch campaigns to redefine manufacturing careers, highlighting innovation, technology, and sustainability. Conclusion: Seizing the Opportunity The resurgence of American manufacturing presents a unique opportunity to redefine the industry and its workforce. By addressing the skills gap through education, partnerships, and a shift in perception, we can build a resilient, innovative, and inclusive manufacturing sector. The future of manufacturing lies not just in advanced machinery but in the people who operate, innovate, and drive the industry forward. It's time to invest in that future.
