Meta is laying off 10% of its global workforce, about 7,900 employees, as part of a major restructuring focused on integrating AI into its operations. The layoffs will occur in three waves on Wednesday, with affected employees notified by email early in their local time zones. The company aims to create a flatter organizational structure with smaller teams that can move faster and take more ownership, reducing managerial roles. Meta plans to continue investing heavily in AI, with capital expenditures expected to reach $145 billion this year, and may conduct more layoffs later in 2026 as it seeks greater efficiency.
Anthropic has acquired Stainless, a startup specializing in developer tools for APIs, for approximately $300 million. Stainless, founded in 2022, has worked with major clients including Google DeepMind, Meta, and OpenAI, and developed software linked...
Over the past month, Alphabet's stock surged 16% following a strong Q1 report highlighting 63% growth in Google Cloud revenue and a doubling of its cloud backlog, signaling clear AI-driven revenue. In contrast, Meta Platforms' stock dropped 11% due t...
Citi increased its price target for Advanced Micro Devices (AMD) from $358 to $460, based on a new CPU market forecast expecting $132 billion by 2030 and rapid growth in AI-related CPU workloads. Despite the higher target, Citi maintained a Neutral r...
Meta announced it will reduce its global workforce by 10%, cutting nearly 8,000 jobs as it ramps up investment in artificial intelligence. This move is part of a broader tech industry trend where companies are shedding staff to fund AI development, w...
Meta Platforms continues to show strong growth driven by AI investments, with ad impressions up 19% year-over-year and average ad prices rising 12%, resulting in a 33% revenue increase to $56.31 billion. Although Meta raised its capital expenditure g...
