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People walk past the New York Times building on October 14, 2019 in New York City.
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For about 16 months, the U.S. and U.K. news industries have predominantly operated out of people’s living rooms, home offices and bedrooms. Now, they’re deciding what post-pandemic life should look like for their employees.

Since the pandemic shutdowns in early 2020, reporters have adjusted techniques to break stories, shifting from in-person lunches and coffees to phone calls and zoom meetings. Editors and team leaders have managed remotely, relying on Slack, Microsoft Teams and content management systems for workflow and communication. Unlike many industries that have been crippled by the pandemic, newsrooms have adjusted and pumped out stories without much of a hitch.

That’s led to a quandary among newsroom executives and human resource leaders in charge of getting employees back to the office. How much flexibility should be given to employees who have demonstrated they can produce stories while not in the office? Do newsrooms want everyone back in the office? Is a hybrid approach more appropriate? Or should employees be given total flexibility to work from home whenever they want?

“For knowledge workers, there’s no putting this back in the box,” said Matt Martin, CEO and co-founder of Clockwise, a software company that has developed dynamic calendar assistant tools for office workers. “Full 100% in office, 40 hours a week, that’s out the window. I don’t see a world where it comes back.”

Newsroom leaders are beginning to make decisions based on internal employee surveys and conversations, but they’re not all making the same choices. The decisions companies make could have major implications for how future employees select between potential employers. They’ll also be an industry-wide test for whether more flexible work arrangements can be long lasting.

Among organizations with national scope, The New York Times, The Financial Times, The Wall Street Journal, Bloomberg, USA Today and Vox Media are all handling back to work plans differently, providing a natural science experiment for the future or journalism.

Get back to the office: The Bloomberg Way

Bloomberg LP is among the most aggressive organizations in getting its employees back to work. Bloomberg owns offices around the world, spending millions of dollars to decorate them with fish tanks, transparent walls, curved escalators and digital signs that show reporter headlines and real-time market movements. Bloomberg has journalists and analysts in more than 120 countries.

According to a Bloomberg spokesperson, the company’s post-pandemic goal is to recreate a pre-pandemic environment. Employees will come back to the office once they can safely do so.

Former New York City Mayor Michael Bloomberg addresses the virtual 2020 Democratic National Convention, livestreamed online and viewed by laptop from the United Kingdom in the early hours of August 21, 2020, in London, United Kingdom.
David Cliff | NurPhoto | Getty Images

“As a firm, we remain committed to making our offices the safest environment for everyone to come together and collaborate,” Bloomberg LP founder and CEO Mike Bloomberg wrote to all employees in an internal February memo obtained by CNBC. “That way of working is central to who we are at Bloomberg, and the buzz in our buildings will resume and grow stronger each day into 2021. After all, it’s our people who make Bloomberg such a great place to work.”

Bloomberg noted that special circumstances based on family situations would be accommodated, but he also stressed workers should get vaccinated as soon as possible.

“As vaccines become available, we expect people to take advantage of the safety they provide and return to the office,” Bloomberg wrote.

Perhaps it shouldn’t be a surprise that Bloomberg’s approach is similar to Wall Street firms, which also are approaching post-pandemic life with a “back to before” vibe. Bloomberg LP makes the majority of its revenue from selling its proprietary software to financial institutions and is more a financial services company than a traditional media firm. Only some of Bloomberg’s employees are affiliated with the media side of the business.

“We want people back to work and my view is that sometime in September, October it will look just like it did before,” JPMorgan Chase CEO Jamie Dimon said in May. “And everyone is going to be happy with it, and yes, the commute, you know people don’t like commuting, but so what.”

Morgan Stanley CEO James Gorman echoed Dimon’s thoughts.

James Gorman, chief executive officer and chairman of Morgan Stanley, speaks during the International Economic Forum Of The Americas (IEFA) in Montreal, Quebec, Canada, on Wednesday June 12, 2019. Photographer: Christinne Muschi/Bloomberg via Getty Images
Bloomberg

“If you can go to a restaurant in New York City, you can come into the office,” Gorman said. “And we want you in the office.”

Still, bankers and Bloomberg employees may push for individual flexibility with their individual team leaders — especially if they see other co-workers better able to balance work and family life. Citigroup said in March it will build in more hybrid and remote working environments for employees that are equally or more productive from home.

Firms in industries that aren’t offering flexible work schedules will have to make that up with additional compensation or other perks to entice talent, Clockwork’s Martin said.

“Deviations from what’s going to become standardized will hurt the marketability of companies,” said Martin.

The Times’s, they are a-changin’ (somewhat)

The New York Times and The Financial Times are among the news organizations embracing change — to some degree.

The New York Times will begin welcoming back maskless employees to company headquarters on 620 8th Avenue in Manhattan on Monday, July 12 if they submit proof of vaccination. Most employees will come back to the office the week after Labor Day (Sept. 6), with flexible one- or two-day-a-week returns throughout September, according to an internal memo from Chief Human Resources Officer and Executive Vice President Jacqueline Welch obtained by CNBC.

The New York Times will then change its “normal” routine to three days working in the office, two days working remotely. Employees who want to be in the office five days a week will be welcomed to do so. Those who want full-time at-home arrangements may not have that choice.

“While most employees will have much more flexibility in how they work, we expect that for most teams, full-time remote work will be the exception, rather than the norm,” Welch wrote in the memo.

The Financial Times is also instituting a hybrid approach, according to spokesperson Sophie Knight. The news organization hasn’t yet decided specifics around the remote-office balance.

“News is a fast-paced business and there is huge benefit in working together on site,” Knight said. “That said, we have mastered remote working in the past year and plan to build the lessons learned into a more flexible model.”

Gannett-USA Today headquarters building in McLean, Virginia.
Paul J. Richards | AFP | Getty Images

Gannett, which owns USA Today and many local newspapers, is planning to have employees return to the office in October. It’s considering different options for adding flexibility for employees and has opened about 200 of its 300 offices throughout the country so far. Dow Jones, which publishes The Wall Street Journal, hasn’t told employees specifics around its hybrid approach, but it plans to offer employees additional flexibility to work from home part-time, according to two people familiar with the matter who asked not to speak on the record because the details haven’t become public.

“A number of our offices around the world have begun a phased return to the workplace,” a Dow Jones spokesperson told CNBC. “Here in the States, we will have more to share with our colleagues in the coming weeks as we review input from our employees and put finishing touches on our plans.”

Digital media companies, such as Vox Media and Group Nine, which have long offered many employees the ability to work from home, are also adopting a hybrid approach. Vox Media began a phased reopening of its offices on July 6 at 10% capacity for vaccinated employees and plans to resume full office operations in September.

About two-thirds of all companies with predominantly knowledge workers are taking a hybrid approach, according to Kevin Delaney, co-founder of Charter, a media and services company focused on the future of work. Delaney was also a former journalist, working as a writer and editor for The Wall Street Journal before co-founding Quartz, a business news website. Google, Apple and Uber are among the large technology companies that have instituted specific hybrid policies allowing for a combination of in-office and remote days each week.

“It’s very clear that hybrid work is a really good scenario for both organizations and workers,” said Delaney. “On net, it’s a positive. But there are complications. The key is that organizations deal with those drawbacks and minimize the extent to which they’re detrimental.”

Proximity bias

Some news organizations have chosen all-remote options. Quartz CEO Zach Seward wrote a post earlier this month explaining what he’s learned from allowing workers to have the flexibility to shun the office completely.

Dennis Publishing, which owns a suite of publishing brands including “The Week,” “PC Pro,” and “Minecraft World,” has considered all-remote options for some of its employees, according to people familiar with the matter. But employees at “The Week” pushed back on the concept, arguing three days a week in the office would better serve the product and its employees, said the people. A Dennis spokesperson wasn’t immediately available to respond to CNBC’s request for comment.

Going fully remote could eat away at company culture and may alienate future talent who want at least some office environment, said Martin. Still, it may be more equitable than hybrid environments, which could test facetime and proximity biases that have already been established to be real in workplaces, said Delaney.

Stanford professor Nick Bloom, who studies remote work, recommends that companies specifically choose certain days for remote work for fairness reasons. If everyone is at the office for the same amount of time, people won’t be penalized for failing to put in face time with bosses or missing work outings because they’re not available.

Proximity bias — the idea that workers get more raises and promotions by being close to bosses in the office — is unquestionably real through decades of research, Delaney said. Companies will have to conduct their own internal audits to ensure that hybrid standards don’t penalize workers that choose to spend some time away from the office, he said.

“Many leaders of companies that are baby boomers struggle to believe people can be productive if they’re not at the office,” said Delaney, noting that the largest Wall Street firms are run by men in their late 50s and 60s. “They need to make the shift to focus on outcomes instead of hours.”

Hybrid environments may also have adverse diversity effects. Surveys suggest women and people of color tend to want more out-of-office flexibility than Caucasian men, Delaney said.

Still, if companies remain attuned to these drawbacks, hybrid environments shouldn’t tilt back toward office-only situations with time, Delaney said.

“It would be a mistake for organizations to treat this as a moment in time where they’re unwillingly being dragged into offering hybrid work,” Delaney said. “Hybrid work setups are the configuration that suit our modern knowledge workers much better than how we operated previously.”

Disclosure: NBCUniversal, CNBC’s parent company, is an investor in Vox Media.

WATCH: Returning to work post-pandemic: Stanford professor

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Luma AI raises $900 million in funding round led by Saudi AI firm Humain

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Luma AI raises 0 million in funding round led by Saudi AI firm Humain

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Video generation startup Luma AI said it raised $900 million in a new funding round led by Humain, an artificial intelligence company owned by Saudi Arabia’s Public Investment Fund.

The financing, which included participation from Advanced Micro Devices’ venture arm and existing investors Andreessen Horowitz, Amplify Partners and Matrix Partners, was announced at the U.S.-Saudi Investment Forum on Wednesday.

The company is now valued upwards of $4 billion, CNBC has confirmed.

Luma develops multimodal “world models” that are able to learn from not only text, but also video, audio and images in order to simulate reality. CEO Amit Jain told CNBC in an interview that these models expand beyond large language models, which are solely trained on text, to be more effective in “helping in the real, physical world.”

“With this funding, we plan to scale our and accelerate our efforts in training and then deploying these world models today,” Jain said.

Luma released Ray3 in September, the first reasoning video model that can interpret prompts to create videos, images and audio. Jain said Ray3 currently benchmarks higher than OpenAI’s Sora 2 and around the same level as Google’s Veo 3.

Humain, which was launched in May, is aiming to deliver full-stack AI capabilities to bolster Saudi Arabia’s position as a global AI hub. The company is led by industry veteran Tareq Amin, who previously ran Aramco Digital and before that was CEO of Rakuten Mobile.

Luma and Humain will also partner to build a 2-gigawatt AI supercluster, dubbed Project Halo, in Saudi Arabia. The buildout will be one of the one of the largest deployments of graphic processing units (GPUs) in the world, Jain said.

Major tech companies have been investing in supercomputers across the globe to train massive AI models. In July, Meta announced plans to build a 1-gigawatt supercluster called Prometheus, and Microsoft deployed the first supercomputing cluster using the Nvidia GB300 NVL72 platform in October.

“Our investment in Luma AI, combined with HUMAIN’s 2GW supercluster, positions us to train, deploy, and scale multimodal intelligence at a frontier level,” Amin said in a release. “This partnership sets a new benchmark for how capital, compute, and capability come together.”

The collaboration also includes Humain Create, an initiative to create sovereign AI models trained on Arabic and regional data. Along with focusing on building the world’s first Arabic video model, Jain said Luma models and capabilities will be deployed to Middle Eastern businesses.

He added that since most models are trained by scraping data from the internet, countries outside the U.S. and Asia are often less represented in AI-generated content.

“It’s really important that we bring these cultures, their identities, their representation — visual and behavioral and everything — to our model,” Jain said.

AI-generated content tools have received significant backlash over the past year from entertainment studios over copyright concerns. Luma’s flagship text-to-video platform Dream Machine garnered some accusations of copying IP earlier this year, but Jain the company has installed safeguards to prevent unwanted usage.

“Even if you really try to trick it, we are constantly improving it,” he said. “We have built very robust systems that are actually using models we trained to detect them.”

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Perplexity announces free product to streamline online shopping

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Perplexity announces free product to streamline online shopping

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Perplexity on Wednesday announced it will roll out a free agentic shopping product for U.S. users next week, as consumers ramp up spending for the holiday season. 

“The agentic part is the seamless purchase right from the answer,” Dmitry Shevelenko, Perplexity’s chief business officer, told CNBC in an interview. “Most people want to still do their own research. They want that streamlined and simplified, and so that’s the part that is agentic in this launch.”

The artificial intelligence startup has partnered with PayPal ahead of the launch, and users will eventually be able to directly purchase items from more than 5,000 merchants through Perplexity’s search engine. 

Perplexity initially released a shopping offering called “Buy With Pro” for its paid subscribers late last year. The company said its new free product will be better at detecting shopping intent and will deliver more personalized results by drawing on memory from a user’s previous searches. 

Perplexity declined to share whether it will earn revenue from transactions that are completed through its platform.

The startup’s competitor OpenAI announced a similar e-commerce feature called Instant Checkout in September, which allows ChatGPT users to buy items from merchants without leaving the chatbot’s interface. OpenAI has said it will take a fee from those purchases. 

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Etsy and Shopify were named as OpenAI’s initial partners for Instant Checkout, but it also inked a deal with PayPal late last month.

Starting next year, PayPal users will be able to buy items, and PayPal merchants will be able to sell items through ChatGPT.

Michelle Gill, who leads PayPal’s agentic strategy, said the company has been building out infrastructure and protections as AI ushers in the “next era of commerce.”

Part of that means keeping consumers and merchants connected to PayPal as they engage on new platforms like Perplexity, she said. 

Perplexity said PayPal merchants will serve as the merchants of record through its agentic shopping product, which will allow them to handle processes like purchases, customer service and returns directly.

Through its “Buy With Pro” offering, Perplexity had served as the intermediary that completed purchases.

Gill said PayPal’s buyer protection policies, which can help users get reimbursed if there are problems with their orders, will also apply to transactions on Perplexity.

“We’re really excited about this launch because we will see it come to life during a period that’s so organic for people to shop,” Gill said in an interview.

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Nvidia reports third-quarter earnings after the bell

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Nvidia reports third-quarter earnings after the bell

Nvidia founder and CEO Jensen Huang reacts during a press conference at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Gyeongju on October 31, 2025.

Jung Yeon-je | Afp | Getty Images

Artificial intelligence chipmaker Nvidia is scheduled to report fiscal third-quarter earnings on Wednesday after the market closes.

Here’s what Wall Street is expecting, per LSEG consensus estimates:

  • EPS: $1.25
  • Revenue: $54.92 billion

Wall Street is expecting the chipmaker to guide in the current quarter to $1.43 in earnings per share on $61.66 billion of revenue. Nvidia typically provides one quarter of revenue guidance.

Anything Nvidia or CEO Jensen Huang says about the company’s outlook and its sales backlog will be closely scrutinized.

He’ll have lots to talk about.

Nvidia is at the center of the AI boom, and it counts counts every major cloud company and AI lab as a customer. All of the major AI labs use Nvidia chips to develop next-generation models, and a handful of companies called hyperscalers have committed hundreds of billions of dollars to construct new data centers around Nvidia technology in unprecedented build-outs.

Last month, Huang said Nvidia had $500 billion in chip orders in calendar 2025 and 2026, including the forthcoming Rubin chip, which will start shipping in volume next year. Analysts will want to know more about what Nvidia sees coming from the AI infrastructure world next year, because all five of the top AI model developers in the U.S. use the company’s chips.

As of Tuesday, analysts polled by LSEG expect Nvidia’s sales to rise 39% in the company’s fiscal 2027, which starts in early 2026.

Investors will want to hear about Nvidia’s equity deals with customers and suppliers, including an agreement to invest in OpenAI, a deal with Nokia and an investment into former rival Intel. Nvidia has kept its pace of deal-making up, agreeing to invest $10 billion into AI company Anthropic earlier this week.

Nvidia management will also be asked about China, and the possibility that the company could gain licenses from the U.S. government to export a version of its current-generation Blackwell AI chip to the country. Analysts say Nvidia’s sales could get a boost of as much as $50 billion per year if it is allowed to sell current-generation chips to Chinese companies.

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