Meta says it’s replacing jobs with tech in new round of layoffs
Meta told employees in its risk division, which is responsible for ensuring regulatory and policy compliance, that some of their roles will be replaced by tech, Business Insider reports.
“By moving from bespoke, manual reviews to a more consistent and automated process, we’ve been able to deliver more accurate and reliable compliance outcomes across Meta,” Chief Compliance and Privacy Officer Michel Protti told the workers in an internal memo. “As a result, we don’t need as many roles in some areas as we once did.”
The news comes right after Meta laid off 600 employees across its AI team in yet another company reorganization, reflecting efforts to improve its flagship AI model, Llama 4.
Meta is only the latest tech company selling AI to say that AI is helping it save money on human labor.
The news comes right after Meta laid off 600 employees across its AI team in yet another company reorganization, reflecting efforts to improve its flagship AI model, Llama 4.
Meta is only the latest tech company selling AI to say that AI is helping it save money on human labor.
Tesla posts best revenue ever in last quarter with EV tax credit, but the stock slides on weaker margins
Tesla’s stock has stayed in the red in early trading on Thursday.
Elon Musk’s Colossus 2 data center is MACROHARD
Satellite photos of the roof of xAI’s new Colossus 2 data center shout a message to the world that it aims to take on Microsoft.
Meta reorganizes its AI teams yet again, this time slashing 600 positions
As it scrambles to catch up to rivals, Meta is yet again restructuring its AI teams, and will be laying off 600 researchers, according to Axios. This is the fifth reorg in the past eight months, based on news reports.
After stumbles from the release of Meta’s flagship model, Llama 4, CEO Mark Zuckerberg made a risky bet to shake up the company’s AI efforts.
Zuckerberg set out to build a new “superintelligence” team, made up of AI all-stars from around the industry lured with nine-figure pay packages and promises of near limitless computing resources.
The flood of new talent poached from competitors like OpenAI, Apple, Google, DeepMind, and others created some awkward tension within Meta, as it already had a prestigious AI team in place known as FAIR, led by neural networks pioneer Yann LeCun. The new recruits were assigned to a team named “TBD” and won’t be affected by the cuts, per the report.
Since hiring Alexandr Wang from Scale AI to run the new high-profile team, several rounds of restructuring have roiled the existing Meta AI talent, many of whom might be learning they have lost their jobs.
Zuckerberg set out to build a new “superintelligence” team, made up of AI all-stars from around the industry lured with nine-figure pay packages and promises of near limitless computing resources.
The flood of new talent poached from competitors like OpenAI, Apple, Google, DeepMind, and others created some awkward tension within Meta, as it already had a prestigious AI team in place known as FAIR, led by neural networks pioneer Yann LeCun. The new recruits were assigned to a team named “TBD” and won’t be affected by the cuts, per the report.
Since hiring Alexandr Wang from Scale AI to run the new high-profile team, several rounds of restructuring have roiled the existing Meta AI talent, many of whom might be learning they have lost their jobs.
Applied Digital jumps after announcing $5 billion AI factory lease
Applied Digital was up more than 4% premarket after it announced a $5 billion, 15-year AI factory lease from a “US based investment grade hyperscaler” at its Polaris Forge 2 campus, which is expected to begin coming online next year.
On its earnings call earlier this month, the data center company’s management teased the deal, saying it was “in advanced discussions with an investment-grade hyperscaler” to lease capacity at Polaris Forge 2 and “also entered negotiations with two additional hyperscalers for two new locations.”
“What sets us apart isn’t just the size of our pipeline — it’s how fast we can deliver,” Applied Digital Chairman and CEO Wes Cummins said in the press release. “The real constraint in this industry is execution, and our team continues to prove that large-scale, next-generation data centers can be designed, financed, and brought online faster and more efficiently than anyone thought possible.”
Tesla recalls 13,000 vehicles over battery defect ahead of Q3 earnings
Tesla has some bad news ahead of its highly anticipated third-quarter earnings report later today: it’s recalling nearly 13,000 2025 Model 3s and 2026 Model Ys, due to a problem with a battery pack component that could result in the sudden loss of drive power. As of October 7, Tesla identified 36 warranty claims and 26 field reports related to this issue, but said it hadn’t found any accidents, according to a report from the National Highway Traffic Safety Administration.
This is the latest in a string of safety issues for Tesla. Earlier this month, the NHTSA launched a probe into Tesla’s full self-driving technology after reports that the feature was violating traffic laws.
Tesla is flat premarket and reports earnings after the bell on Wednesday.
This is the latest in a string of safety issues for Tesla. Earlier this month, the NHTSA launched a probe into Tesla’s full self-driving technology after reports that the feature was violating traffic laws.
Tesla is flat premarket and reports earnings after the bell on Wednesday.
Apple “drastically” cuts iPhone Air production as consumers prefer iPhone 17 and iPhone 17 Pro
Turns out that people don’t love skinny.
Apple is “drastically” cutting back its slim iPhone Air to “end of production” levels, Nikkei reports, as consumers greatly prefer its regular and Pro iPhone 17 models. On balance, that means Apple is maintaining its initial production forecast of 85 million to 90 million units for the iPhone 17 lineup, according to the report.
A survey released by KeyBanc today also found “virtually no demand for iPhone Air.” The preference for more expensive models suggests average selling prices rather than unit volume will drive growth in FY 2026, KeyBanc said.
This latest news comes after generally positive early sales for the latest iPhone suite, which recently helped push Apple shares to an all-time high.
Apple is down 0.7% premarket.
A survey released by KeyBanc today also found “virtually no demand for iPhone Air.” The preference for more expensive models suggests average selling prices rather than unit volume will drive growth in FY 2026, KeyBanc said.
This latest news comes after generally positive early sales for the latest iPhone suite, which recently helped push Apple shares to an all-time high.
Apple is down 0.7% premarket.
Apple reportedly delays its foldable phone to 2029 or later
Apple has pushed back the debut of its $3,000 foldable phone — part of its three-year plan to update how the iPhone looks — to 2029 or even later, Bloomberg reports. Originally Bloomberg reported that the iPhone maker had hoped for the foldable phone to come out in 2026, but thanks to “engineering challenges tied to weight, features and display technology,” customers will have to wait a few years longer.
For what it’s worth, as is the case with its upcoming touch screen MacBook Pro, many of Apple’s competitors, including Samsung and Google, already have foldable phones.
For what it’s worth, as is the case with its upcoming touch screen MacBook Pro, many of Apple’s competitors, including Samsung and Google, already have foldable phones.
OpenAI has an army of ex-investment bankers making financial models to train ChatGPT
OpenAI is looking for its killer app for the business world. After all, you can only sell so many $20 monthly subscriptions to consumers — which currently accounts for 70% of its $13 billion annually recurring revenue.
Bloomberg is reporting that OpenAI is beefing up ChatGPT’s financial chops to target the deep pockets of the banking industry.
According to the report, “Project Mercury” has lined up over 100 former investment bankers getting paid $150 an hour to help teach OpenAI’s models how to do the grueling work of junior bankers, including tweaking PowerPoint slides and building financial models in Microsoft Excel.
According to the report, “Project Mercury” has lined up over 100 former investment bankers getting paid $150 an hour to help teach OpenAI’s models how to do the grueling work of junior bankers, including tweaking PowerPoint slides and building financial models in Microsoft Excel.
Warner Bros. Discovery just raised the price of HBO Max
Warner Bros. Discovery, which announced today it’s open to being bought, also said it’s raising prices on its HBO Max streaming subscribers.
Effective immediately for new customers and at the next renewal date for existing ones, subscribers to the ad-supported tier will pay an extra dollar a month ($10.99) and those who don’t want ads will see prices go up $1.50 a month (to $18.49). It joins the ranks of Disney, Apple, and NBC Universal, which also recently raised prices. WBD is also reportedly cracking down on password-sharing.
Here’s how the prices of their services compare now:
Here’s how the prices of their services compare now:
Amazon aims to automate 75% of its operations and avoid hiring 600,000+ people
Amazon might be one of few companies hiring ahead of the holiday season, but the e-commerce giant hopes to limit headcount additions in the years ahead as it leans more deeply into automation, according to The New York Times’ interviews and a survey of internal documents.
Some numbers from the report:
Amazon thinks robots can help it forgo hiring more than 160,000 people in the US by 2027.
That would mean $0.30 in savings on each item that Amazon sells.
The company would ultimately like to automate 75% of its operations.
Automation could potentially lessen its hiring of humans by more than 600,000 by 2033.
It expects to sell 2x as many products in 2033.
Currently Amazon employs 1.2 million people.
Happy holidays!
Amazon thinks robots can help it forgo hiring more than 160,000 people in the US by 2027.
That would mean $0.30 in savings on each item that Amazon sells.
The company would ultimately like to automate 75% of its operations.
Automation could potentially lessen its hiring of humans by more than 600,000 by 2033.
It expects to sell 2x as many products in 2033.
Currently Amazon employs 1.2 million people.
Happy holidays!
Apple closes at record high for first time in 2025
After spending the day at intraday highs, Apple set an all-time closing high of $262.24 Monday, following reports of increased iPhone 17 sales and an analyst upgrade. Loop Capital raised its price target to a Street high of $315.
The stock’s previous all-time closing high was in December 2024.
Apple reports its fiscal year 2025 results later this month, during which analysts expect the company’s all-important iPhone sales to return to growth.
A tale of two Teslas from two analyst notes by guys named Dan
Ahead of Tesla’s third-quarter earnings, Barclays’ Dan Levy and Wedbush Securities’ Dan Ives weigh in.
Data center frenzy taxes natural resources, sparks anger around the globe
The race to build ever-larger power-hungry data centers isn’t limited to the US. In Ireland, more than 20% (!!!) of the country’s electricity is consumed by data centers. In Mexico, poor communities near data center sites are seeing water supplies dry up and their fragile power grids falter.
A New York Times report examines what these data center projects look like around the world and tracks the local opposition mounted by environmental groups seeking to block future projects.
The report notes that despite growing local opposition, countries are still bending over backward to lure the billions of dollars in investment that come with these data center projects, offering rich tax incentives to the companies developing the projects, in exchange for a relatively small number of jobs and promises of various, if vague, local benefits.
Much like in the US, the data center deals are shrouded in secrecy, with elected officials required to sign NDAs and the extensive use of shell companies masking the identity of the massive tech companies behind the projects.
A New York Times report examines what these data center projects look like around the world and tracks the local opposition mounted by environmental groups seeking to block future projects.
The report notes that despite growing local opposition, countries are still bending over backward to lure the billions of dollars in investment that come with these data center projects, offering rich tax incentives to the companies developing the projects, in exchange for a relatively small number of jobs and promises of various, if vague, local benefits.
Much like in the US, the data center deals are shrouded in secrecy, with elected officials required to sign NDAs and the extensive use of shell companies masking the identity of the massive tech companies behind the projects.
OpenAI claimed a math breakthrough this weekend, only to be smacked down
The embarrassing episode sprouted from a misunderstood post, amplified by an OpenAI executive as proof of GPT-5’s mathematical prowess, but turned out not to be what it seemed.
Analysts expect iPhone revenue to return to growth this year and next
Sales of Apple’s latest iPhone are shaping up for a good year, after a couple of pretty crappy ones, according to the latest analyst consensus estimates from FactSet.
Analysts have been revising up their iPhone revenue expectations for the fiscal year ended in late September — which includes a half month of the latest iPhone sales — and now expect iPhone revenue to rise 4.5% in FY 2025 to $210 billion. Growth for FY 2026 is now pegged at 5.5%. Last year, sales were basically flat after declining more than 2% in FY 2023. Of course, as Apple’s hold on the global smartphone market has grown over the years, its latest growth expectations pale in comparison to the early 2010s, but still represent the strongest growth since the pandemic.
Some are crediting the iPhone 17’s physical redesign for positive sales indicators, but we suspect the boost has more to do with a natural upgrade cycle than any specific features.
The stock is trading up nearly 2% premarket and is expected to open near a record high today, following positive early sales estimates from Counterpoint Research and an upgrade from Loop Capital which raised its price target to $315, a Street high.
Apple reports its 2025 fiscal year results on October 30.
During its first 10 days on the market in the US and China, Apple’s iPhone 17 outsold last year’s iPhone 16 by 14%, according to Bloomberg, citing Counterpoint Research. This data builds on other indicators suggesting the new iPhone is a relative hit.
Counterpoint credits the phone’s improved display, added storage, and the upgraded A19 chip for the sales boost, but we think it probably has more to do with a natural upgrade cycle.