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Wall Street pointed to a weaker open on Tuesday as technology stocks that fuelled early-week gains retreated, with investors scaling back expectations of another Federal Reserve rate cut this year amid persistent inflation concerns.Futures for the S&P 500 slipped 1%, while those for the Dow Jones Industrial Average were down 0.6%. Nasdaq futures fell the…
OpenAI has signed a $38 billion agreement with Amazon to run its artificial intelligence systems on Amazon Web Services (AWS), gaining access to “hundreds of thousands” of Nvidia’s AI chips through the deal announced Monday, AP reported.The partnership comes just days after OpenAI revised its arrangement with longtime backer Microsoft, which will no longer remain…
Amazon CEO Andy Jassy recently claimed that the company’s artificial intelligence (AI) based shopping assistant, Rufus, will generate an additional $10 billion in annualised sales. Jassy shared the projection during Amazon’s third-quarter earnings call last week, highlighting the chatbot as one of the company’s key bets on consumer-facing AI. At the earnings call, Jassy said:…
AI Image for Representation In the midst of an unprecedented AI buildout, Meta is spending more than most. The company is building two massive data centers, and reporting indicates there will be as much as $600 billion in spending on U.S. infrastructure over the next three years. While such figures might be expected in the…
Mayor Bruce Harrell called on Seattle’s tech powerhouses, including Microsoft and Amazon, to fulfill a “moral obligation” to reinvest in the community, highlighting their massive profits during a speech at a Fremont Chamber of Commerce event late last month. “Microsoft … they made $88 billion last year … they have an obligation to give back…
Amazon founder Jeff Bezos has once again offered a timeless insight into stress management. Bezos believes that stress is not caused by hard work, in fact it is a a warning sign that you are avoiding something important. In a resurfaced quote from a 2001 interview, recently highlighted in a Fortune article, Bezos said that…
The technology sector has witnessed a massive wave of layoffs throughout 2025, with 112,732 tech employees losing their jobs across 218 companies, according to independent tracking site Layoffs.fyi. This unprecedented workforce reduction represents one of the most significant restructuring periods in the industry’s history, driven primarily by the rapid adoption of artificial intelligence, automation initiatives,…
An Amazon vice president has issued a pointed directive to surviving employees in the wake of massive layoffs, instructing them to embrace AI, eliminate bureaucracy, and prioritise customer-facing work as the tech giant restructures its devices division. Tapas Roy, vice president of device software and services at Amazon, sent an internal memo detailing three specific…
Amazon CEO Andy Jassy says that the company’s latest round of layoffs that impacted barely 14,000 people is not because of money or AI. Instead, the real reason behind Amazon job cuts is the culture, Jassy said. “The announcement that we made a few days ago was not really financially driven, and it’s not even…
Andy Jassy, CEO of Amazon Amazon CEO Andy Jassy warned employees in June 2025 that artificial intelligence would shrink the company’s corporate workforce, four months before the company announced 14,000 job cuts on October 28. The early signal gave staff a preview of what would become one of the company’s largest layoff rounds since the…
