Business
Californian tech company to move headquarters to Florida
California quantum computing company D-Wave is moving its headquarters to Boca Raton, Fla., and opening a new research and development facility.
In an announcement this week, the Palo Alto company said its new office will be housed in the Boca Raton Innovation Campus before the end of this year. The 1.7-million-square-foot office facility, previously used by tech company IBM, is the birthplace of the personal computer, according to the campus’ website.
“The state offers a rich scientific and educational environment, a growing pool of highly skilled tech talent, and a vibrant spirit of innovation that made it attractive to D-Wave,” Chief Executive Alan Baratz said in a statement.
The company is among businesses that have recently opened new offices or moved out of California, underscoring the competition the state faces to attract more jobs.
California, home to companies such as Google, Apple and Meta, is known for being a major hub for the technology industry. California cryptocurrency startup BitGo recently said that it was moving to South Dakota.
The announcement comes after business leaders criticize a proposed ballot measure to tax billionaires to mainly fund healthcare. Under the Billionaire Tax Act, Californians worth more than $1 billion would pay a one-time 5% tax on their total wealth. The initiative still needs enough signatures to make it on the November ballot, but it’s already prompting criticism from some of California’s wealthiest residents who have urged companies to move.
D-Wave, founded in 1999, describes itself the world’s first commercial supplier of quantum computers. It also provides quantum computing systems, software, and services. Quantum computers are able to solve complex problems more quickly than a classical computer.
A company spokesperson said its decision to move its headquarters to Florida wasn’t related to the proposed billionaires tax and its executives haven’t publicly commented on the idea. D-Wave will still have a Palo Alto office and it also has a presence in Marina del Rey.
Cities try to lure companies to relocate their operations by offering tax breaks.
In January, the Boca Raton City Council approved a resolution that would allow a tech company — referred as Project Vernon — to be a “qualified applicant” for economic development incentives.
The resolution said that once the company, which turned out to be D-Wave, revealed its identity the city would move forward with completing an economic development agreement.
D-Wave would receive up to $500,000 as part of a relocation incentive. The new headquarters would result in the creation of 100 new jobs over the next five years in Boca Raton. The average annual salary for the jobs shouldn’t be less than $125,000, according to the resolution.
The company also considered relocating its headquarters and R&D facility to Tennessee and North Carolina along with staying in California, the resolution said.
The new Florida site will provide D-Wave a “bicoastal presence for system redundancy in the case of disaster recovery,” according to the news release about the new headquarters.
The company said it will install a quantum computer at Florida Atlantic University’s Boca Raton campus as part of a $20-million agreement.
D-Wave has more than 200 employees, according to its website.
The quantum market is projected to grow. It could reach roughly $100 billion by 2035 with most of the revenue growth coming from quantum computing, according to a 2025 report from McKinsey & Company.
Business
Waymo suspends all freeway rides over safety
Waymo said that it’s pausing its robotaxi services on freeways in the U.S. as it updates its software to improve performance around construction zones and flooded roads.
Before the suspension, freeway operations were available in San Francisco, Los Angeles, Phoenix and Miami. The company said that street and other off-highway operations of Waymos will continue.
The company first confirmed the temporary pause to Reuters, and said that it was working to integrate recent technical learnings into software and expects to resume these routes soon.
“We are committed to being good neighbors for our riders and our communities. As part of that commitment, we make proactive decisions including temporarily pausing aspects of our service. We know riders count on us to get around, and we appreciate their patience as we work to get them where they’re going safely and reliably,” a Waymo spokesperson said in an email statement.
The company also paused operations in Atlanta, after a Waymo stopped in flood water. In early May, about 3,800 of Waymos autonomous taxis were recalled after a software defect caused some vehicles to drive into flooded roadways.
The suspension comes at a time when the Alphabet-backed company, which is based in Mountain View, Calif., has increased its pace of expansion into a number of new cities in the U.S. and across the globe, and getting them on freeways and local airports is important for expansion.
Competitors Tesla and Zoox have been playing catchup but don’t match the scale of Waymo yet.
The company said it has collected 170 million autonomous miles, with 13 times fewer injury-causing collisions compared with human drivers in the routes they operate in.
Waymo said it provides 500,000 trips every week, and aims to cross 1 million paid rides per week by 2026. While most Waymo models in use are Jaguar SUVs, it recently began testing a Chinese model Zeekr called Ojai in Los Angeles.
Waymo did not cite a specific instance that prompted the most recent recall, but the company has been forced to pause operations to improve software in several Southern states that have been hit by flash floods, including Texas, Tennessee and Georgia.
In 2025, Waymo recalled more than 1,200 vehicles due to a software defect resulting in minor crashes against obstacles in the road. Earlier this year, it faced renewed scrutiny after hitting a child outside a school in Santa Monica and running over a cat in San Francisco.
Business
Here’s How Much More You’re Spending on Gas Because of the Iran War
Since the war with Iran broke out, the average American household has spent an extra …
$190.47 on gasoline.
For many households, that is the equivalent of a month’s electricity bill.
Or a week’s worth of groceries for a couple.
The gasoline calculation is part of an analysis conducted by researchers at Brown University as they and others try to assess the economic costs of the prolonged fighting.
Calculating the cost of war — a skipped meal or a drive not made — is an imperfect science. But these estimates can offer a sense of how fighting far away can change behaviors large and small each day, disrupting American life.
Discomfort has not been spread evenly. As the price of gasoline has shot up, the national average is now …
$4.55 a gallon
In Illinois, it is more expensive …
$4.99 a gallon.
In California, it’s …
$6.13 a gallon.
Diesel, which is used to power factories and move most goods around the country, also quickly climbed.
Taken together, the amount of extra money Americans have collectively spent on gasoline and diesel since Feb. 28, when the United States and Israel attacked Iran, is staggering:
$0.0 billion
Hunting for cheaper gas, Americans are going to Costcos and Sam’s Clubs more often to fill up their tanks.
Drivers visited Sam’s Club gas stations 18 percent more in the last week of April than the same time last year.
They are filling their tanks with less gas.
One gallon fewer at a time.
They are riding more subways and commuter trains.
They are using bike shares more often.
People rode more buses in March than before the war:
45 million more rides.
People are spending less on essentials.
More than 40 percent of people in a recent poll said they were spending less on groceries and medical care.
They are putting less into savings.
Richer households are spending a relatively small share of their income on gas:
2.7%.
Poorer households are spending far more:
4.2%.
This is not the first time in recent years that the economy has been shocked by war.
After Russia invaded Ukraine in 2022, oil prices spiked, sending gasoline soaring. At its peak, the national average was …
$5.02 a gallon.
Where things go this time around is anyone’s guess. When the war does end, it will still take weeks or months for energy supplies to level off.
Nearly three out of four goods move across the country by truck.
Many of those trucks are powered by diesel, making them much costlier to drive, and what’s inside them costlier for consumers.
Last month, a tomato cost …
40% more
than it did the same time last year.
More expensive fuel isn’t the only culprit for rising costs. Extreme weather, tariffs and other factors have forced prices up for many industries. Gasoline also becomes more expensive as the summer approaches.
But inflation last month rose at its fastest pace in nearly three years, and gasoline was among the fastest rising categories.
Business
Another California tech company lays off thousands
The layoffs bludgeoning the tech industry continued this week as artificial intelligence reshapes the industry.
Mountain View-based Intuit, the maker of TurboTax, on Wednesday said it was laying off 17% of its workforce, or about 3,000 employees, as part of its restructuring to cut costs and invest in artificial intelligence.
The company said it had slowed down due to “too many organizational layers” and the cuts will simplify the organization to become a “faster, leaner, more focused company.” Intuit said it will close its offices in Reno and Woodland Hills and incur an estimated $300 million to $340 million in restructuring charges.
“We believe we can serve more customers and deliver breakthrough products that fuel our customers’ success by reducing complexity and simplifying our structure,” Sasan Goodarzi, chief executive of Intuit, said in a memo shared with employees.
Intuit announced the layoffs on the same day it reported its third-quarter results, in which revenue jumped 10% from a year earlier, to $8.56 billion.
Intuit adds to the count of more than 114,000 tech-sector employees laid off this year, according to Layoffs.fyi.
Meta laid off 8,000 workers on Wednesday, as the company cuts costs to ramp up investment in AI agents and infrastructure. The ever-expanding list of tech companies that have cut jobs includes Coinbase, Amazon, LinkedIn and more. Some have cited productivity gains enabling fewer workers to accomplish more with AI, while others pointed out restructuring and cost-cutting to prepare for the AI disruption.
In an earnings call, Intuit‘s chief financial officer, Sandeep Aujla, said the cuts were intended to make the organization leaner, and weren’t tied directly to Intuit’s AI use.
“AI is an important part of how we’re evolving as a company, but these decisions were not driven by AI replacing employees,” an Intuit spokesperson reiterated in an email .
Best known for its TurboTax platform, Intuit has branched into accounting with QuickBooks, credit scoring through Credit Karma and email automation via Mailchimp. Facing increased competition for AI-driven tax solutions, the company is integrating AI across its entire portfolio.
“Our AI agents are delivering value at scale, with our accounting AI agents powering recommendations across more than 50 million transactions each week, and business tax AI agents identifying millions of dollars in deductions,” Goodarzi said in the earnings call.
The restructuring will reduce overlapping roles in TurboTax and Credit Karma as the company integrates both into a single team.
A deep sense of anxiety has settled in the tech job market, propelled by consecutive layoffs and coding tasks being automated by AI.
Tech leaders have portrayed the role of human software engineers as a human in the loop, overseeing and verifying AI agents that do the work of coders.
By 2027, software developers are expected to see a 3% job contraction due to AI coding capabilities, according to Labor Automation Forecasting Hub by Metaculus, a popular website where forecasters predict how AI will reshape the workforce.
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