Big Tech's H-1B workers in hot seat

Good morning, tech enthusiasts Silicon Valley relies on thousands of H-1B workers to drive innovation, but uncertainty about the visa program’s future has companies like Amazon, Meta, and Google on edge.

As the American tech talent landscape evolves, a pressing question remains: Will stricter policies under President Trump disrupt Silicon Valley’s global workforce…Or are we witnessing the dawn of a new era?

In today’s tech rundown:

• Big Tech faces tighter H-1B visa rules

• Ubisoft spins off new $4.3B subsidiary

• Rivian’s new micromobility startup

• TikTok’s Europe push amid U.S. crisis

• Quick hits on other major news

LATEST DEVELOPMENTS

BIG TECH

🪪 Big Tech faces tighter H-1B visa rules

The Rundown: Big Tech employs thousands of H-1B workers — making the Bay Area home to 80% of California’s H-1B visa recipients — but now, those jobs may be at risk as a potential government crackdown on foreign visas looms.

The details:

• The Department of Homeland Security has introduced new measures, with submission deadlines this week, tightening H-1B rules, including increased fees.

• Amazon, valued at $2T, has been the leading recipient of H-1B visa approvals since 2020, securing 9,265 visas in 2024 alone.

• As of September 2024, Google had 5,367 H-1B visa holders working in the Bay Area, followed by Meta and Apple, each employing equally large numbers.

• H-1B, the largest visa program for skilled workers, enables companies to fill specialty roles by hiring foreign nationals for three to six-year stays.

Why it matters: The future of the H-1B program remains uncertain, as the Trump administration weighs lowering annual visa caps or further tightening eligibility requirements. Meanwhile, Meta faces a lawsuit over alleged favoritism toward foreign workers, with reports stating that 15% of its U.S. workforce holds H-1B visas.

UBISOFT

🎮 Ubisoft spins off new $4.3B subsidiary

The Rundown: Gaming company Ubisoft launched a new subsidiary focused on three of its most iconic franchises: Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six— valued at €4B ($4.3B) and backed by Chinese tech giant Tencent.

The details:

• Tencent is investing €1.16B ($1.25B) for a 25% stake in the unnamed subsidiary, while France-based Ubisoft will retain majority control.

• The new firm will focus on Assassin's Creed, Far Cry, and Tom Clancy's Rainbow Six, with teams based in Montréal, Barcelona, and Sofia.

• Ubisoft says the unit will develop “game ecosystems designed to become truly evergreen and multi-platform” in the long run.

• On its part, the company will develop other franchises, including The Division and Tom Clancy’s Ghost Recon, while producing solo and multiplayer games.

Why it matters: Ubisoft had reportedly been looking for a buyout—while slashing costs and jobs over the past few months—after some of its new projects, including Star Wars Outlaws, flopped. But separating its most successful franchises boosts their value: the new unit is valued at more than twice Ubisoft’s current market capitalization.

RIVIAN

🛴 Rivian’s new micromobility startup

The Rundown: Rivian, the California-based electric vehicle maker known for its R1S SUV and R1T pickup, has spun off a new micromobility startup called “Also.” It has secured $105M in funding in its goal to develop e-bikes, e-scooters, and microcars.

The details:

• Also emerged from a stealth program within Rivian that explored the potential of adapting the company's EV technology for smaller vehicles.

• The company will operate as an independent entity, with Rivian maintaining a substantial minority stake.

• It plans to unveil its first product designs later this year, with production slated to begin in 2026 in the U.S. and Europe.

• While specific product details remain undisclosed, Also's tech platform is expected to apply across categories, from e-bikes to microcars.

Why it matters: Rivian’s CEO RJ Scaringe said: “For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be needed.” As Rivian preps its upcoming midsize R2, we’ll have to wait and see what Also cooks up with “a few computers and a battery.”

TIKTOK

🛍️ TikTok’s Europe push amid U.S. crisis

The Rundown: Facing an uncertain future in the U.S., TikTok is expanding in Europe with its e-commerce arm, TikTok Shop—an influencer-driven platform that saw rapid success in the U.S. and UK—launching in new regions by the end of this month.

The details:

• TikTok Shop will launch in Germany, France, and Italy on March 31, following successful launches in the UK, Spain, and Ireland.

• The platform has seen significant growth lately, with UK sales increasing by over 180% year-on-year in 2024.

• TikTok Shop is hiring for 100 new roles in Europe and looking to onboard more Europe-based sellers, as many sellers on the platform sell products from China.

• The move comes as the company faces challenges in the U.S., which may ban the app unless it sells to a U.S. owner by April 5.

Why it matters: Despite uncertainty in the U.S., TikTok continues to post hundreds of new jobs in the U.S. and is planning to expand its local services business. Still, its European push represents both a hedge against future U.S. regulatory action and a broader global strategy to capitalize on its huge influencer appeal.

QUICK HITS

📰 Everything else in tech today

Infinite Reality, a tech company specializing in immersive digital media and e-commerce, acquired music streaming service Napster for $207M.

OpenAI is reportedly finalizing a $40B funding round led by SoftBank, which would make it the largest private funding in history—and nearly double its valuation to $300B. 

Perplexity announced that it is partnering with Seattle startup Firmly to enhance e-commerce features within its AI search app.

NASA’s Curiosity rover discovered the largest-ever organic molecules, thought to be remnants of prebiotic compounds, preserved in an ancient Martian lakebed.

Two former Meta AI executives raised $15M in seed funding for Yutori, a startup that will develop AI personal assistants.

Nintendo announced a new Nintendo Switch feature, called Virtual Game Cards, that lets users manage digital games like physical game cards.

SpaceX is seeking approval from the FAA to increase its Falcon 9 launch operations at Cape Canaveral Space Force Station from 50 to 120 missions annually.

Google is rolling out new AI features across Search, Maps, and Gemini to help people plan their summer vacations.

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Rowan, Jennifer, and Joey—The Rundown’s editorial team