Meta just laid off 8,000 employees to pay for its AI infrastructure — and started tracking the keystrokes of those who remain, according to The Wall Street Journal. The company began cutting 10% of its workforce while simultaneously monitoring employees’ mouse clicks and keystrokes to train AI models. When workers asked if they could opt out of the tracking program, a Meta executive said no. More ...
Meta just laid off 8,000 employees to pay for its AI infrastructure — and started tracking the keystrokes of those who remain, according to The Wall Street Journal. The company began cutting 10% of its workforce while simultaneously monitoring employees’ mouse clicks and keystrokes to train AI models. When workers asked if they could opt out of the tracking program, a Meta executive said no. More than 1,500 employees have signed a petition demanding that the company stop collecting their computer-use data. The layoffs are meant to offset Meta’s $145 billion investment in AI infrastructure this year, largely to build data centers and buy chips. The company also canceled 6,000 open positions and is reassigning 7,000 employees to AI-focused roles. Said Chief Technology Officer Andrew Bosworth: “Our agents primarily do the work. Our role is to direct, review and help them improve.” Employee sentiment is at its most negative level on record. CEO Mark Zuckerberg, who recently cloned an AI version of himself, told staff he doesn’t expect more company-wide layoffs this year, but Chief People Officer Janelle Gale didn’t rule out future cuts.
watch now VIDEO 2:30 02:30 Goldman Sachs leads SpaceX IPO: Here's what you need to know Squawk on the Street What to Know SpaceX's official IPO filing sets up a likely Nasdaq debut next month. Goldman Sachs is lead left on the prospectus, followed by Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase. SpaceX was valued at $1.25 trillion in February after merging with xAI, Elon Musk's ar...
watch now VIDEO 2:30 02:30 Goldman Sachs leads SpaceX IPO: Here's what you need to know Squawk on the Street What to Know SpaceX's official IPO filing sets up a likely Nasdaq debut next month. Goldman Sachs is lead left on the prospectus, followed by Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase. SpaceX was valued at $1.25 trillion in February after merging with xAI, Elon Musk's artificial intelligence startup, meaning new investors will be buying in at a historically high price. The IPO is likely to be the first of three potential mega offerings this year, with OpenAI and Anthropic both eyeing the public market. Follow-up filings from SpaceX will lay out the expected per-share pricing range and likely more detail on the top shareholders. Elon Musk's SpaceX is officially headed for the public market in what's likely to be a record IPO that will put the world's richest person at the helm of two separate trillion-dollar publicly traded companies. In a prospectus with the Securities and Exchange Commission on Wednesday, SpaceX said it plans to list under ticker symbol SPCX on the Nasdaq. SpaceX confidentially filed with the SEC in April, and CNBC reported last week that the company is aiming to kick off a roadshow to market the deal on June 8. Founded by Musk in 2002 to develop and operate reusable rockets, SpaceX has turned into NASA's biggest launch partner after the agency ended its space shuttle program in 2011. In addition to its massive aerospace and defense contracts, SpaceX also operates the Starlink satellite internet service and a constellation of around 10,000 satellites, as well as artificial intelligence unit xAI, which previously acquired X, the social network formerly known as Twitter. CNBC's reporters are covering SpaceX's IPO from bureaus in San Francisco and Englewood Cliffs, New Jersey. Read more SpaceX news Musk and Altman take their battle from court to Wall Street ahead of landmark IPOs SpaceX picks Goldman Sachs for lead left posi...
Nvidia beats on revenue and guidance, adds $80 billion to buyback plan: Live updates CNBC TD Cowen Remains Bullish on NVIDIA Corporation (NVDA) Yahoo Finance Nvidia Gives Disappointing Forecast as Chip Competition Mounts Bloomberg.com NVIDIA boosts dividend to $0.25, adds $80B to share buyback Stock Titan Nvidia: You Snooze, You Lose (NASDAQ:NVDA) Seeking Alpha Nvidia earnings: here's what analyst...
Nvidia beats on revenue and guidance, adds $80 billion to buyback plan: Live updates CNBC TD Cowen Remains Bullish on NVIDIA Corporation (NVDA) Yahoo Finance Nvidia Gives Disappointing Forecast as Chip Competition Mounts Bloomberg.com NVIDIA boosts dividend to $0.25, adds $80B to share buyback Stock Titan Nvidia: You Snooze, You Lose (NASDAQ:NVDA) Seeking Alpha Nvidia earnings: here's what analysts are watching Proactive financial news Nvidia Earnings Impact Tracker: Historical Data Shows Hidden Bull Trap Benzinga Nvidia Stock: China Could Be the Biggest Wild Card in NVDA Earnings TipRanks NVIDIA Price Target Lifted to $300 by KeyBanc: Blackwell and Rubin Are Stacking Catalysts 24/7 Wall St.
Douglas Rissing The Federal Reserve Board has invited public comment on a proposal to establish a "payment account" that could be used specifically to clear and settle payments by legally eligible financial institutions. In March, the Federal Reserve Bank of Kansas City approved a limited-purpose account for Wyoming-based Payward Financial, which does business as Kraken Financial, making it the fi...
Douglas Rissing The Federal Reserve Board has invited public comment on a proposal to establish a "payment account" that could be used specifically to clear and settle payments by legally eligible financial institutions. In March, the Federal Reserve Bank of Kansas City approved a limited-purpose account for Wyoming-based Payward Financial, which does business as Kraken Financial, making it the first crypto firm to get direct access to the Fed's payment system. The decision is said to have prompted concerns by banks and Maxine Waters, the top Democrat on the House Financial Services Committee, over potential risks to the financial system. Several financial institutions, including some that are not federally insured, have sought direct access to the Fed's payment services to reduce costs and increase speed. The proposed payment account is also expected to mitigate material risks to the Reserve Banks and the payment system. The account holders are not expected to have access to intraday credit or the discount window, or earn interest on balances held at a Reserve Bank. They will only have access to payment services with automated controls to prevent overdrafts. More on Payments FINX: AI Is A Boon, X Money's 6% APY Is A Threat IPAY: Idiosyncratic Risks And Structural Headwinds (Rating Downgrade) SEC eyes plan for trading tokenized versions of stocks on crypto platforms - report ETFs tied to PayPal stumble following weak earnings from the stock Seeking Alpha’s Quant Rating on Amplify Digital Payments ETF
Airplanes are seen on the runway at LaGuardia Airport amidst mass travel delays, on March 28, 2026 in New York, New York. Ryan Murphy | Getty Images A sinkhole at New York's LaGuardia Airport shut down a runway on Wednesday and is set to delay flights, local officials said. The Port Authority of New York & New Jersey said it was conducting a daily inspection of the airfield earlier Wednesday when ...
Airplanes are seen on the runway at LaGuardia Airport amidst mass travel delays, on March 28, 2026 in New York, New York. Ryan Murphy | Getty Images A sinkhole at New York's LaGuardia Airport shut down a runway on Wednesday and is set to delay flights, local officials said. The Port Authority of New York & New Jersey said it was conducting a daily inspection of the airfield earlier Wednesday when "crews identified a sinkhole near Runway 4/22." "The runway was immediately shut down, and emergency construction and engineering crews are onsite to determine the cause and complete necessary repairs as quickly and safely as possible," the Port Authority said in a statement. It said travelers should expect delays and cancellations, with thunderstorms expected also expected to roll in Wednesday. Air traffic controllers routinely slow down flights or halt departures altogether during bad weather. The disruptions come ahead of the busy Memorial Day travel period. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Check out the companies making headlines in after-hours trading. Nvidia — The chip titan said revenue surged 85% year over year to $81.62 billion in the first quarter, exceeding the prediction of $78.86 billion from analysts polled by LSEG. Shares were little changed. Intuit — Shares tumbled 10.3% after the financial software stock announced a 17% workforce cut. Intuit also missed analyst expectat...
Check out the companies making headlines in after-hours trading. Nvidia — The chip titan said revenue surged 85% year over year to $81.62 billion in the first quarter, exceeding the prediction of $78.86 billion from analysts polled by LSEG. Shares were little changed. Intuit — Shares tumbled 10.3% after the financial software stock announced a 17% workforce cut. Intuit also missed analyst expectations for revenue in the third fiscal quarter, posting $8.56 billion against an LSEG consensus forecast of $8.61 billion. E.l.f. Beauty — Shares of the retailer jumped nearly 5% after beating Wall Street's expectations on the top and bottom lines for the fourth fiscal quarter. E.l.f. said it planned to undo some of its tariff-related price increases, citing hardship for consumers facing higher gas prices. Star Bulk Carriers — Shares of the shipping firm jumped 3% after posting 56 cents in earnings per share, excluding items, on $281.2 million in revenue for the first quarter. Analysts surveyed by FactSet penciled in 47 cents a share and $225.9 million, respectively. Choice Hotels International — Shares of the hotel franchisor slipped 1.8%. after announcing Patrick Pacious would step down as CEO. Dominic Dragisich, the growth and strategy chief, was named interim CEO.
England got off to a winning start in their Twenty20 series against New Zealand after Alice Capsey struck an unbeaten 74 from 51 balls – her highest score for England, and her first T20i half-century since July 2024. Capsey has generally batted at No 3 for England but on this occasion was promoted to open in place of Danni Wyatt-Hodge, missing this series due to the imminent birth of her first chi...
England got off to a winning start in their Twenty20 series against New Zealand after Alice Capsey struck an unbeaten 74 from 51 balls – her highest score for England, and her first T20i half-century since July 2024. Capsey has generally batted at No 3 for England but on this occasion was promoted to open in place of Danni Wyatt-Hodge, missing this series due to the imminent birth of her first child. She made full use of the extra time available to her, smoking three sixes and seven fours as England chased down their 137-run target with three wickets and 16 balls to spare. Capsey’s was still a slightly more restrained innings than that of New Zealand’s Sophie Devine, who had earlier lived the high life for 21 balls, wellying four sixes over midwicket – including three in the course of one over from Sophie Ecclestone – but eventually crashed and burned, bowled by Dani Gibson when she finally failed to connect with a straight one. Unlike Devine, Capsey not only reached the milestone of her half-century but saw the England innings through to its conclusion, sharing an unbeaten 64-run partnership from 35 balls with Freya Kemp. With the start of the World Cup now only three weeks away, she has chosen exactly the right time to rediscover some swagger. As the World Cup looms, these T20s – three against New Zealand and three against India – should give England the chance to polish away any rustiness in the format, having last played a T20i in July 2025. Their ring fielding certainly looked sharp enough. Nat Sciver-Brunt remains absent nursing a left calf tear – though we are assured she will be fit for the World Cup. In her stead Charlie Dean marshalled the troops well again, plus picked up a couple of handy wickets – bowling Izzy Gaze with one which turned, and having Brooke Halliday caught trying to go over the top. View image in fullscreen Lauren Bell (left) prepares to embrace Linsey Smith after the dismissal of Melie Kerr for eight. Photograph: Mike Egerton/PA Injuries...
Nvidia reports earnings of $1.87 per share for the fiscal 1Q topping estimates of $1.77. Revenue for the quarter ending in July is projected to be $91 billion, compared with Wall Street estimates of about $87.4 billion. Bloomberg's Romaine Bostick and Matt Bryson of Wedbush Securities discuss. (Source: Bloomberg)
Nvidia reports earnings of $1.87 per share for the fiscal 1Q topping estimates of $1.77. Revenue for the quarter ending in July is projected to be $91 billion, compared with Wall Street estimates of about $87.4 billion. Bloomberg's Romaine Bostick and Matt Bryson of Wedbush Securities discuss. (Source: Bloomberg)
US equity indexes jumped at the close on Wednesday as government bond yields sank amid a slide in cr Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
US equity indexes jumped at the close on Wednesday as government bond yields sank amid a slide in cr Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
The AI trade is increasingly being written in pink slips. Some of the most valuable blue chips, such as Nike (NKE), and Amazon (AMZN), are cutting jobs and redirecting cash toward AI systems, chips, and infrastructure, turning job cuts into part of a new efficiency playbook the market seems willing to buy. Meta Platforms (META) now sits squarely in those crosshairs. Starting today, May 20, the com...
The AI trade is increasingly being written in pink slips. Some of the most valuable blue chips, such as Nike (NKE), and Amazon (AMZN), are cutting jobs and redirecting cash toward AI systems, chips, and infrastructure, turning job cuts into part of a new efficiency playbook the market seems willing to buy. Meta Platforms (META) now sits squarely in those crosshairs. Starting today, May 20, the company is set to begin a multi-batch layoff program that will initially affect about 10% of its workforce, and CEO Mark Zuckerberg has already signaled that AI could drive more cuts later this year. That keeps Meta firmly in line with a wider 2026 trend rather than outside it. The timing matters for the stock as META closed at $605.06 today, down 8.51% year-to-date (YTD) and 5.21% over the past year. The pressure is mounting further as Meta also navigates regulatory battles, including challenging New Mexico’s $3.7 billion teen mental health proposal in social media addiction trial. So as layoffs begin and Meta reshapes itself around AI, one question hangs over the company. Is this the start of a leaner and stronger next chapter, or a sign that the real cost of the AI pivot is only starting to show? What’s Happening Inside Meta Inside Meta, the multi-batch layoffs are part of a much bigger reset that stretches from robots to power. The company has agreed to buy Assured Robot Intelligence , a startup that builds AI systems for humanoid robots that can understand and respond to human behavior in complex settings. That deal brings a specialist humanoid team into Meta’s Superintelligence Labs and Robotics Studio. The goal is to move closer to “physical AGI” and build humanoid machines that can handle a broad range of real-world tasks. At the same time, management has raised its 2026 AI capital spending forecast to between $125 billion and $145 billion. Multi-year infrastructure commitments rose by about $107 billion in a single quarter, locking in cloud and data center capacity th...
The AI trade is increasingly being written in pink slips. Some of the most valuable blue chips, such as Nike (NKE), and Amazon (AMZN), are cutting jobs and redirecting cash toward AI systems, chips, and infrastructure, turning job cuts into part of a new efficiency playbook the market seems willing to buy. Meta Platforms (META) now sits squarely in those crosshairs. Starting today, May 20, the com...
The AI trade is increasingly being written in pink slips. Some of the most valuable blue chips, such as Nike (NKE), and Amazon (AMZN), are cutting jobs and redirecting cash toward AI systems, chips, and infrastructure, turning job cuts into part of a new efficiency playbook the market seems willing to buy. Meta Platforms (META) now sits squarely in those crosshairs. Starting today, May 20, the company is set to begin a multi-batch layoff program that will initially affect about 10% of its workforce, and CEO Mark Zuckerberg has already signaled that AI could drive more cuts later this year. That keeps Meta firmly in line with a wider 2026 trend rather than outside it. The timing matters for the stock as META closed at $605.06 today, down 8.51% year-to-date (YTD) and 5.21% over the past year. The pressure is mounting further as Meta also navigates regulatory battles, including challenging New Mexico’s $3.7 billion teen mental health proposal in social media addiction trial. So as layoffs begin and Meta reshapes itself around AI, one question hangs over the company. Is this the start of a leaner and stronger next chapter, or a sign that the real cost of the AI pivot is only starting to show? What’s Happening Inside Meta Inside Meta, the multi-batch layoffs are part of a much bigger reset that stretches from robots to power. The company has agreed to buy Assured Robot Intelligence , a startup that builds AI systems for humanoid robots that can understand and respond to human behavior in complex settings. That deal brings a specialist humanoid team into Meta’s Superintelligence Labs and Robotics Studio. The goal is to move closer to “physical AGI” and build humanoid machines that can handle a broad range of real-world tasks. At the same time, management has raised its 2026 AI capital spending forecast to between $125 billion and $145 billion. Multi-year infrastructure commitments rose by about $107 billion in a single quarter, locking in cloud and data center capacity th...
The AI trade is increasingly being written in pink slips. Some of the most valuable blue chips, such as Nike (NKE), and Amazon (AMZN), are cutting jobs and redirecting cash toward AI systems, chips, and infrastructure, turning job cuts into part of a new efficiency playbook the market seems willing to buy. Meta Platforms (META) now sits squarely in those crosshairs. Starting today, May 20, the com...
The AI trade is increasingly being written in pink slips. Some of the most valuable blue chips, such as Nike (NKE), and Amazon (AMZN), are cutting jobs and redirecting cash toward AI systems, chips, and infrastructure, turning job cuts into part of a new efficiency playbook the market seems willing to buy. Meta Platforms (META) now sits squarely in those crosshairs. Starting today, May 20, the company is set to begin a multi-batch layoff program that will initially affect about 10% of its workforce, and CEO Mark Zuckerberg has already signaled that AI could drive more cuts later this year. That keeps Meta firmly in line with a wider 2026 trend rather than outside it. More News from Barchart The timing matters for the stock as META closed at $605.06 today, down 8.51% year-to-date (YTD) and 5.21% over the past year. www.barchart.com The pressure is mounting further as Meta also navigates regulatory battles, including challenging New Mexico’s $3.7 billion teen mental health proposal in social media addiction trial. So as layoffs begin and Meta reshapes itself around AI, one question hangs over the company. Is this the start of a leaner and stronger next chapter, or a sign that the real cost of the AI pivot is only starting to show? What’s Happening Inside Meta Inside Meta, the multi-batch layoffs are part of a much bigger reset that stretches from robots to power. The company has agreed to buy Assured Robot Intelligence, a startup that builds AI systems for humanoid robots that can understand and respond to human behavior in complex settings. That deal brings a specialist humanoid team into Meta’s Superintelligence Labs and Robotics Studio. The goal is to move closer to “physical AGI” and build humanoid machines that can handle a broad range of real-world tasks. At the same time, management has raised its 2026 AI capital spending forecast to between $125 billion and $145 billion. Multi-year infrastructure commitments rose by about $107 billion in a single quarter, lock...
Nvidia Unchanged Despite Big Earnings Beat And Solid Guidance As we discussed extensively in our preview, besides the Q1 revenue and guidance ($82BN+ and $90BN whisper respectively), Wall Street was expecting to get more color on the following topics during today's call and Q&A: Potential for increased shareholder cash returns, Vera Rubin ramp timing (2H 26E), Gross margin durability (~75% amidst ...
Nvidia Unchanged Despite Big Earnings Beat And Solid Guidance As we discussed extensively in our preview, besides the Q1 revenue and guidance ($82BN+ and $90BN whisper respectively), Wall Street was expecting to get more color on the following topics during today's call and Q&A: Potential for increased shareholder cash returns, Vera Rubin ramp timing (2H 26E), Gross margin durability (~75% amidst continued memory/other cost inflation), Update to the $1 Trillion 25-27 forecast, esp. contribution from LPU racks, CPU and Vera Rubin Ultra, not included before Potential upside from agentic AI to the server CPU business; Competitive landscape changes against Google TPU, agentic CPU, other ASICs. With that in mind, here is what the world's biggest company just reported for Q1: Revenue $81.62BN, beating Exp $79.19BN, but a bit light of the $82BN whisper Adj EPS $1.87, beating Exp $1.76 Adj. Gross Margin 75%, beating Exp. 74.5% Solid all around. The company's all-important disclosed Data Center revenue was a record $75.2 billion in Q1, up 21% from the previous quarter and up 92% from a year ago. Nvidia also said that Vera Rubin is on track for second half of 2026. “The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed,” said Jensen Huang, founder and CEO of NVIDIA. “Agentic AI has arrived, doing productive work, generating real value and scaling rapidly across companies and industries. NVIDIA is uniquely positioned at the center of this transformation as the only platform that runs in every cloud, powers every frontier and open source model, and scales everywhere AI is produced — from hyperscale data centers to the edge.” Looking ahead, the company guided to revenue of $91.0 billion (plus or minus 2%), which is on top of the whisper number that had been discussed earlier. Certainly a solid guide, especially since NVIDIA is not assuming any Data Center compute revenue from China in its outlook. Some more ...
Available for over a year US tax authorities will be barred from pursuing claims against Donald Trump, some members of his family and the Trump organisation. This pledge is part of an extraordinary new settlement, announced yesterday, between the US president and the US Department of Justice. In this episode, Sarah and Anthony look at the implications of the deal, which includes the creation of a ...
Available for over a year US tax authorities will be barred from pursuing claims against Donald Trump, some members of his family and the Trump organisation. This pledge is part of an extraordinary new settlement, announced yesterday, between the US president and the US Department of Justice. In this episode, Sarah and Anthony look at the implications of the deal, which includes the creation of a fund worth almost £1.8 billion for victims of alleged “lawfare”, aswell as supporters of the president who claim to have been unfairly prosecuted. Also this week, Donald Trump has continued his purge of those he sees as disloyal within the Republican Party through primary elections throughout the US. In Kentucky, Congressman Thomas Massie lost his bid for re-election after Trump endorsed his challenger and his donors threw unprecedented amounts of money at the campaign. In Louisiana, veteran Senator Bill Cassidy lost out to a Trump backed challenger (Cassidy angeredTrump by his 2021 decision to impeach him in 2021). What do these victories tell us about Donald Trump’s popularity within the Republican party? And what does that mean for Republicans who disagree with him? HOSTS: Sarah Smith, North America Editor Anthony Zurcher, North America Correspondent GET IN TOUCH: • Join our online community: https://discord.gg/qSrxqNcmRB • Send us a message or voice note via WhatsApp to +44 330 123 9480 • Email Americast@bbc.co.uk • Or use #Americast This episode was made by Purvee Pattni, Tom Gillett, Alix Pickles and Grace Reeve. The technical producer was Mike Regaard. The series producer is Purvee Pattni. The senior news editor is Sam Bonham. If you want to be notified every time we publish a new episode, please subscribe to us on BBC Sounds by hitting the subscribe button on the app. You can now listen to Americast on a smart speaker. If you want to listen, just say "Ask BBC Sounds to play Americast”. It works on most smart speakers. US Election Unspun: Sign up for Anthony’s BBC ne...
anamejia18/iStock Editorial via Getty Images Colombia's government approved the environmental viability of the exploratory phase of the Nereidas geothermal project, led by state oil company Ecopetrol ( EC ), Baker Hughes ( BKR ), and utility CHEC, Reuters reported Wednesday. For Colombia, where hydropower has supplied as much as 70% of electricity generation in recent years, geothermal could ...
anamejia18/iStock Editorial via Getty Images Colombia's government approved the environmental viability of the exploratory phase of the Nereidas geothermal project, led by state oil company Ecopetrol ( EC ), Baker Hughes ( BKR ), and utility CHEC, Reuters reported Wednesday. For Colombia, where hydropower has supplied as much as 70% of electricity generation in recent years, geothermal could offer a low-emissions source of baseload electricity that is less exposed to swings in rainfall; Nereidas is the country's first large-scale geothermal exploration initiative. Ecopetrol ( EC ) has said the project could eventually generate 50-100 MW of renewable power, enough to serve more than 250K families. Separately, Ecopetrol ( EC ) said Wednesday it had cleared the conditions needed to acquire a 49% stake in two wind power projects in La Guajira from AES Corp. The JK1 and JK2 projects, valued at ~$25.5M, have combined capacity of 259 MW and include a 35-km transmission line connected to a collector substation, Ecopetrol ( EC ) said. More on Ecopetrol Ecopetrol Q1 2026 Earnings Call Presentation Ecopetrol: The Rerating Story Is Over The Slow Destruction Of Colombia's Ecopetrol