A city in the San Francisco Bay Area, California
Robinhood has announced a 10% headcount reduction, affecting about 290 employees, while insisting the business has never been stronger. The move aims to flatten the organization and boost performance as markets show resilience and volume trends improve. The restructuring includes closing some open roles and is expected to incur about $20-28 million in costs.
Microsoft has announced 4,800 job cuts companywide, including 3,200 roles in Xbox during fiscal 2027 and 1,600 Xbox positions eliminated immediately. Xbox will spin out or divest five studios and reduce management layers as it restructures to strengthen margins while shifting resources toward AI and core franchises. The move has reduced Xbox headcount by about 20%.
Meta is pursuing a cloud compute business, potentially selling access to excess AI compute power and/or hosted AI models. The move follows high AI infrastructure spending and could reshape the company’s revenue flow beyond advertising. Investors have reacted positively, while rivals and early pilots offer a benchmark for profitability.
The dog that vanished on the Fourth of July has been rescued in East Palo Alto after a long swim in the bay. Fire crews, police, and animal services coordinated a multi-agency effort. The dog has been reunited with its owners.
Industry leaders warn that AI infrastructure investments have sparked a ferocious race among hyperscalers. Earnings calls show wide investor scepticism about when returns will materialise, even as compute demand remains strong.
A New Mexico court has ordered Meta to pay $567 million in the second phase of a landmark case, expanding penalties for harming children’s mental health. The ruling requires stronger age verification, reduced addictive features, and mandatory safety notices on Facebook and Instagram, with $420 million set for treatment services and the remainder for awareness, prevention and screening. Meta plans to appeal.