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Amazon laying off about 14,000 corporate workers as it invests more in AI
People pass by The Spheres in downtown Seattle, Washington, on June 25, 2025. Juan Mabromata | AFP | Getty Images Amazon said Tuesday that it will lay off about 14,000 corporate employees, marking the latest cuts in the company’s multi-year effort to rein in costs. In a blog post, the company wrote that the layoffs […]
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Chegg slashes 45% of workforce, blames ‘new realities of AI’
Dan Rosensweig, CEO, Chegg Scott Mlyn | CNBC Chegg said on Monday it would lay off about 45% of its workforce, or 388 employees, as the “new realities” of artificial intelligence and diminished traffic from internet search have led to plummeting revenue. The online education company, founded 20 years ago, has been hit by the […]
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OpenAI says U.S. needs more power to stay ahead of China in AI: ‘Electrons are the new oil’
Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Kyle Grillot | Bloomberg | Getty Images OpenAI on Monday said the U.S. needs to substantially ramp up its investment in new energy capacity if it wants to […]
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Amazon to announce largest layoffs in company history, source says
A person walks by The Spheres at the Amazon.com Inc. headquarters in Seattle, Washington, on Nov. 14, 2022. David Ryder | Getty Images News | Getty Images Amazon is preparing to announce sweeping job cuts beginning Tuesday, CNBC has learned. The layoffs will amount to the largest cuts to Amazon’s corporate workforce in the company’s […]
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iRobot stock tumbles 30% after Roomba maker warns the search for a buyer has stalled
Roomba robot vacuums made by iRobot are displayed on a shelf at a Bed Bath and Beyond store in Larkspur, California, on Aug. 5, 2022. Justin Sullivan | Getty Images Shares of iRobot plunged more than 30% on Monday after the company warned its search for a buyer has hit a substantial roadblock and its […]
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AI startup Mercor now valued at $10 billion with new $350 million funding round
Artificial intelligence startup Mercor announced on Monday a new Series C round that values the company at $10 billion, a fivefold increase since its last raise in February. The company said in a blog post that it raised $350 million in a round led by Felicis, which also led its $100 million Series B round, […]
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AI spending is boosting the economy, but many businesses are in survival mode
Cameron Pappas, owner of Norton’s Florist Norton’s For Cameron Pappas, owner of Norton’s Florist in Birmingham, Alabama, the artificial intelligence boom is a world away. While companies like Nvidia, Alphabet and Broadcom are lifting the stock market to fresh highs and bolstering GDP, Pappas is experiencing what’s happening in the real economy, one that’s far removed […]
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3 takeaways from Intel earnings: Cash flow, foundry progress and hardware surprise
Intel snapped a losing streak of six straight quarterly losses and returned to profitability in the third quarter. In its first earnings report since the Trump administration acquired a 10% stake in the company, the U.S. chipmaker posted strong revenue, noting robust demand for chips that it expects to continue into 2026. Client computing revenue, […]
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Applied Materials lays off 4% of workforce
Signage outside Applied Materials headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021. David Paul Morris | Bloomberg | Getty Images Chip equipment manufacturer Applied Materials is laying off 4% of its workforce. The company on Thursday began notifying impacted employees around the world “across all levels and groups,” it said in a […]
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Microsoft AI chief says company won’t build chatbots for erotica
Mustafa Suleyman CEO and co-founder of Inflection AI speaks during the Axios BFD event in New York City, U.S., October 12, 2023. Brendan Mcdermid | Reuters Microsoft AI CEO Mustafa Suleyman said the software giant won’t build artificial intelligence services that provide “simulated erotica,” distancing itself from longtime partner OpenAI. “That’s just not a service […]
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