Lucid Motors slashes 12% of its workforce as it seeks profitability

Plus more of TechCrunch's top stories to start your morning

View this email online in your browser  February 20, 2026 TechCrunch Top 3 Lucid Motors slashes 12% of its workforce as it seeks profitability: The layoffs affect hundreds of full-time workers in the US, according to an internal memo obtained by TechCrunch. Read More Prepare for pitch battle: Startup Battlefield 200 nominations are open: Nominations for TechCrunch Startup Battlefield 200 are open. Pitch at Disrupt 2026 in October in front of top VCs and the full TechCrunch audience. Nominate your startup or for one that's deserving. Read More Peak XV raises $1.3B, doubles down on AI as global VC rivalry in India heats up: Peak XV says most of its new capital will target India as the firm prioritizes AI, fintech and cross-border bets while navigating recent partner departures. Read More Be the first to know when news breaks Subscribe to our News Alerts, and you won't miss a thing. Breaking news, exclusives, and special reports—straight to your inbox. Sign up for News Alerts! A message from Fidelity Stop Guessing What Fundraising Requires Cap table. Pitch deck. Investor updates. Diligence. The Fundraise-Ready Startup Kit equips you with the core materials founders can use to raise with confidence. Download the Kit  Morning Must-Reads FBI says ATM 'jackpotting' attacks are on the rise, and netting hackers millions in stolen cash: The FBI says hacks that trick ATMs into spitting out cash on demand are rising, with hundreds of attacks in the past year alone netting hackers millions in stolen bills. Read More TechCrunch Disrupt 2026 Super Early Bird rates end in 1 week: The lowest ticket rates of the year for TechCrunch Disrupt 2026 ends next Friday, February 27. Save up to $680 on your pass. Register now before prices increase. Read More The OpenAI mafia: 18 startups founded by alumni: The OpenAI mafia: 15 of the most notable startups founded by alumni Read More Google's new Gemini Pro model has record benchmark scores — again: Gemini 3.1 Pro promises a Google LLM capable of handling more complex forms of work. Read More Why investors are going gaga over solid-state transformers: The technology promises to replace several parts of the grid with one device that's both controllable and updatable. Read More A message from Snyk Agentic security for AI-powered software AI-native applications are dynamic, unpredictable, and moving at machine speed. Evo by Snyk introduces a new era of "agentic security"—using specialized AI agents to discover, test, and protect your AI ecosystem. Meet Evo Last but Not Least OpenAI says 18 to 24-year-olds account for nearly 50% of ChatGPT usage in India: The company said on Friday that users between 18 and 24 years of age account for nearly 50% of all messages sent by Indians to ChatGPT, and users under 30 accounted for 80% of usage in the country. Read More Check out some of our other newsletters: StrictlyVC TechCrunch Events TechCrunch Mobility Want to adjust your daily newsletter schedule? You can do it right here Got a tip? Get in touch securely. Want to advertise on TechCrunch? advertise@techcrunch.com Has this been forwarded to you? Click here to subscribe to this newsletter. Unsubscribe Member Center Privacy Policy Copyright © 2026 TechCrunch Media LLC 501 2nd Street, Suite 650, San Francisco, CA 94107