(Bloomberg) -- Meta Platforms Inc. is alerting thousands of employees that they’re being laid off, part of a previously announced restructuring aimed at reducing costs while the company invests heavily in artificial intelligence. Most Read from Bloomberg The company began notifying workers around the world Wednesday morning, starting with employees across Asia, who got the note at 4 a.m. Singapore...
(Bloomberg) -- Meta Platforms Inc. is alerting thousands of employees that they’re being laid off, part of a previously announced restructuring aimed at reducing costs while the company invests heavily in artificial intelligence. Most Read from Bloomberg The company began notifying workers around the world Wednesday morning, starting with employees across Asia, who got the note at 4 a.m. Singapore time. US-based staff are also expected to receive word during their morning, according to an internal memo. Staff are being encouraged to work from home while the company cuts roughly 8,000 roles globally. This latest round of cuts is expected to hit Meta’s engineering and product teams in particular and additional layoffs could come later in the year, said people familiar with the company’s plans, who asked not to be named as the information is not public. “Automators like Meta risk no longer being an employer of choice as it’s being revealed that they will cut out the human when the opportunity presents itself,” said Jan-Emmanuel De Neve, professor of economics and behavioral science at University of Oxford. “Doing so might well lead to short-term cost savings but risks longer-term growth potential by undermining employee wellbeing and engagement.” On Monday, Meta informed staff that some 7,000 workers have also been reassigned to newly formed teams that are focused on AI initiatives, including products and agents. The company, which has committed well in excess of $100 billion to AI capital expenditures this year, had just under 80,000 employees at the end of March, ahead of the reassignments and layoffs. “We’re now at the stage where many orgs can operate with a flatter structure with smaller teams of pods/cohorts that can move faster and with more ownership,” Meta’s Head of People Janelle Gale said in the memo, which was reviewed by Bloomberg News. “We believe this will make us more productive and make the work more rewarding.” Chief Executive Officer Mark Zuckerberg ...
Oselote/iStock via Getty Images Nuclear Energy and Uranium Key Takeaway Nuclear momentum hit a new milestone in April, as two SMR developers broke ground on the first commercial nuclear reactor projects to grace the U.S. in a decade. Regulatory shifts favoring nuclear power continue to pick up pace in the U.S. and abroad. TerraPower and Kairos Power both broke ground on separate nuclear projects i...
Oselote/iStock via Getty Images Nuclear Energy and Uranium Key Takeaway Nuclear momentum hit a new milestone in April, as two SMR developers broke ground on the first commercial nuclear reactor projects to grace the U.S. in a decade. Regulatory shifts favoring nuclear power continue to pick up pace in the U.S. and abroad. TerraPower and Kairos Power both broke ground on separate nuclear projects in Wyoming and Tennessee, respectively, kicking off the first commercial nuclear-power projects to begin construction within the United States in a decade. 1 Both firms are building small modular reactors (SMR) intended to cut down on costs and construction delays that have historically plagued large reactor projects. These projects represent major milestones for the U.S. nuclear industry and represent the next step in the industry's shift from experimental test reactors to grid-scale systems designed for commercial use. TerraPower's 345 MWe plant will deliver power to the PacifiCorp multistate utility system, while the Kairos Plant is expected to supply up to 50 MWe to the Tennessee Valley Authority in Oak Ridge, Tennessee. 2 In a congressional hearing on April 16th, U.S. Secretary of Energy, Chris Wright, announced that the first 5-10 newly planned U.S. nuclear reactors are "almost certainly" expected to receive federal loan support. 3 While plans to build new large reactors have yet to be approved, the announcement signals potential federal commitment to support 10 new large nuclear reactors proposed by federal officials last year. These reactors are tied to an October 2025 deal between Cameco and the U.S. government to build at least $80 billion in reactors and it follows a separate announcement of nearly $290 billion in loan financing from the Office of Energy Dominance Financing. 4 Price Action Following a muted 1st quarter punctuated by volatility, uranium spot prices recovered to $86.85/lb on April 23 rd .5UxC, LLC reports that multiple spot deals were concluded duri...
TLDR UBS analyst Timothy Arcuri raised his AVGO price target from $475 to $490, implying ~17% upside from current levels. Broadcom reports fiscal Q2 earnings on June 3. Arcuri cut Anthropic-related revenue estimates after Broadcom shifted chip orders from full-rack to standardized ASIC setups. Despite lower forecasts, UBS expects Broadcom to beat Wall Street’s ~$22 billion revenue guidance estimat...
TLDR UBS analyst Timothy Arcuri raised his AVGO price target from $475 to $490, implying ~17% upside from current levels. Broadcom reports fiscal Q2 earnings on June 3. Arcuri cut Anthropic-related revenue estimates after Broadcom shifted chip orders from full-rack to standardized ASIC setups. Despite lower forecasts, UBS expects Broadcom to beat Wall Street’s ~$22 billion revenue guidance estimate. AVGO holds a Strong Buy consensus on Wall Street, with 26 Buys and four Holds over the past three months. UBS has lifted its price target on Broadcom (AVGO) to $490, up from $475, ahead of the company’s fiscal second-quarter earnings on June 3. The call comes from five-star analyst Timothy Arcuri, who sees roughly 17% upside from current levels despite trimming some revenue estimates. Broadcom Inc., AVGO AVGO stock is up 23% year to date, trading around $410, after a rough start to 2026 that saw it fall about 15% through March. The stock has been on a tear since April, but Arcuri’s latest note reflects a more nuanced picture under the hood. The change involves how Broadcom is fulfilling chip orders for Anthropic. The company shifted from full-rack AI systems to a more standardized ASIC configuration. That sounds like a step back, but the new setup actually carries higher profit margins. Still, the shift slows the early ramp-up. Arcuri cut his Anthropic-related revenue estimate for 2026 to around $8 billion, down sharply from a prior forecast of $21 billion. His 2027 estimate was trimmed to $22 billion from $23 billion. He also lowered his overall fiscal 2027 AI revenue forecast for AVGO to $133 billion from $145 billion, and nudged his 2027 earnings-per-share estimate down slightly to $21.14. Why UBS Is Still Bullish Even with those cuts, Arcuri isn’t hitting the exit. He still expects Broadcom to report Q2 revenue guidance above Wall Street’s consensus of roughly $22 billion. He projects AI revenue will hit $13.6 billion in Q3 alone — a number that would keep Broadcom o...
Sustainability promised to change the industry. With Shein reportedly acquiring Everlane, and Allbirds pivotting from eco sneakers to AI, it seems that promise was mostly marketing It was always about the money, wasn’t it? For a while there, it seemed like the execs opining sustainability is not a trend, it’s the future actually meant it. But when yet another global brand drops its net zero goals ...
Sustainability promised to change the industry. With Shein reportedly acquiring Everlane, and Allbirds pivotting from eco sneakers to AI, it seems that promise was mostly marketing It was always about the money, wasn’t it? For a while there, it seemed like the execs opining sustainability is not a trend, it’s the future actually meant it. But when yet another global brand drops its net zero goals or stops talking about DEI, you do wonder. Recent headlines include Stella McCartney adulterating her eco gloss with a sustainable capsule collection for H&M – don’t worry, she’s just “ infiltrating from within ” – and Lululemon being investigated for Pfas . The letdowns keep coming. Now the internet is reeling from a report that Shein plans to acquire Everlane, the San Francisco-based sustainable basics brand built on “radical transparency”. Shein is the Chinese ultra-fast fashion giant epitomising murky supply chains and crazy-cheap landfill fashion. They release up to 10,000 styles a day, and have been making headlines of their own over secrecy and alleged links to forced Uyghur labour. Continue reading...
Rachel Reeves is preparing to announce a planning shake-up that would fast-track clean energy and infrastructure projects by curbing judicial reviews, the Treasury said. The chancellor will propose that parliament should be able to designate and approve the most important clean energy projects as of “critical national importance”, as part of a wider package seeking to blunt the impact of the I...
Rachel Reeves is preparing to announce a planning shake-up that would fast-track clean energy and infrastructure projects by curbing judicial reviews, the Treasury said. The chancellor will propose that parliament should be able to designate and approve the most important clean energy projects as of “critical national importance”, as part of a wider package seeking to blunt the impact of the Iran crisis. “That would reduce the exposure from judicial review on all but human rights grounds,” the Treasury said. It comes as pressure grows on the government to accelerate its energy infrastructure development to meet its goal to build a virtually zero-carbon power system by 2030. Renewable energy developers have long bemoaned the difficulty in gaining planning permission for projects, from offshore windfarms to onshore solar and battery storage developments, and waiting times to connect to Great Britain’s electricity grid. View image in fullscreen The Treasury says Rachel Reeves ‘is clear that parliament must take back control’. Photograph: Toby Melville/Reuters A spokesperson for the Treasury said that vital infrastructure delivery had been “delayed by judicial reviews of projects the country needs”. They added: “The chancellor won’t stand for it any longer and is bringing forward bold changes to support delivery. “She is clear that parliament must take back control – to get Britain building the power plants, windfarms and grid connections that will bring bills down, strengthen our energy security, and deliver growth in every part of our country.” Last year a record number of renewable energy projects were given the go-ahead in Great Britain, according to analysis by the consultancy Cornwall Insight. It found that the energy capacity of new battery, wind, and solar projects that received approval climbed to 45GW, 96% higher than in 2024. However, it also found the pace of projects starting up lagged behind, largely as a result of long construction timelines and grid ...
Tom Werner/DigitalVision via Getty Images I am optimistic about Relay Therapeutics ( RLAY ). I believe the current stock price reflects the view that Relay is a single-asset, clinical-stage oncology story. However, what Relay is showing is more interesting: how one well-established drug design concept can be applied across multiple high-value patient needs. Relay is not just trying to create anoth...
Tom Werner/DigitalVision via Getty Images I am optimistic about Relay Therapeutics ( RLAY ). I believe the current stock price reflects the view that Relay is a single-asset, clinical-stage oncology story. However, what Relay is showing is more interesting: how one well-established drug design concept can be applied across multiple high-value patient needs. Relay is not just trying to create another PI3Kα inhibitor. Rather, they are looking to define a new paradigm around how PI3Kα inhibitors should be utilized by separating mutant target coverage from wild-type and off-isoform toxicity. This distinction matters because PI3Kα has never lacked biological interest. The issue was always the lack of therapeutic index. While there are clearly commercial implications to targeting PI3Kα (as evidenced by the approval and late-stage development of competing products), tolerability constraints prevented widespread use. I believe zovegalisib's developing data package represents an important milestone because it provides evidence that Relay may improve the utilization of PI3Kα inhibition by moving it from a treatment option with limitations to a treatment architecture available for long-term use across multiple indications, including second-line breast cancer, first-line breast cancer, and PIK3CA-driven vascular anomalies. Latest Financials To start, Relay is still a biotech in the clinical stage, and therefore the income statement does not reflect an operational business apart from license revenue; the company 's revenue for Q1 2026 , for example, totaled $3.0 million vs. $7.7 million in Q1 2025. R&D expenditures were lower this year at $70.6M compared to last year at $73.8M; G&A was also lower this year (down to $11.0M) from last year ($18.7M). Net loss decreased slightly to $73.3M, or $0.41/share, vs. a net loss of $77.1M, or $0.46/share, in the comparable period of the previous year. In contrast to the income statement, which reflects the company's losses, the balance sheet...