Meta launches AI push with Amazon deal as Intel beats Q1 revenue

Key Takeaways

• Meta is laying off about 8,000 employees (10% of its workforce) and closing 6,000 open roles, effective May 20.
• Meta expects to spend between $115 billion and $135 billion in 2026, mostly on AI infrastructure, an increase of at least $42 billion from 2025.
• Meta has entered a multiyear agreement to use Amazon's custom Graviton chips to power its AI services.
• Intel posted Q1 revenue of $13.6 billion, beating guidance, with its Data Center and AI group up 22% year over year to $5.1 billion.
• Intel is shifting wafer capacity from consumer chips to Xeon CPUs to meet rising demand for AI inference workloads.
• The Trump administration is vowing to crack down on foreign entities, specifically China, that exploit US-made AI models.
• BLP Digital received a $50 million investment from Goldman Sachs Alternatives for its AI finance automation platform.
• Binance launched Agentic Wallet, a keyless AI wallet compatible with frameworks like Claude Code and Cursor.
• JPMorgan Chase is planning to use AI to help its traders make better decisions.
• Demand for grid connections for AI data centers in Britain has pushed wait times out to 12 to 15 years.

Meta to lay off 8,000 workers as AI spending grows

Meta plans to lay off about 8,000 employees, which is 10% of its workforce, next month. The company says the cuts will help it run more efficiently while it spends billions on artificial intelligence. Meta expects to spend between $115 and $135 billion in 2026, with most of that going to AI. CEO Mark Zuckerberg said 2026 will be the year AI changes how people work. Other tech companies like Amazon are also cutting jobs to invest in AI.

Meta to cut 8,000 jobs as AI investments surge

Meta will lay off 8,000 employees, or 10% of its workforce, next month as it pours billions into AI. The company said in an internal memo that the dismissals will help it operate more efficiently while increasing AI spending. Janelle Gale, Meta's head of human resources, said the move is not easy and will mean letting go of people who made meaningful contributions. Meta expects to spend between $115 and $135 billion in 2026, an increase of at least $42 billion from 2025. CEO Mark Zuckerberg said 2026 will be the year AI starts to dramatically change the way people work.

Meta to cut 8,000 jobs and close 6,000 open roles

Meta said on Thursday it plans to lay off about 10% of its workforce, or around 8,000 people. The company is also closing about 6,000 open roles. The layoffs will go into effect on May 20. Janelle Gale, Meta's chief people officer, said the cuts are part of an effort to run the company more efficiently and offset other investments. Meta spent $72.2 billion on capital expenditures in 2025 and expects to spend at least $115 billion in 2026, mostly on AI infrastructure. CEO Mark Zuckerberg said 2026 will be the year AI dramatically changes how people work.

Meta to lay off 8,000 workers as AI spending surges

Meta will lay off 8,000 employees, or 10% of its workforce, next month as it pours billions into AI. The company said in an internal memo that the dismissals will help it operate more efficiently while increasing AI spending. Janelle Gale, Meta's head of human resources, said the move is not easy and will mean letting go of people who made meaningful contributions. Meta expects to spend between $115 and $135 billion in 2026, an increase of at least $42 billion from 2025. CEO Mark Zuckerberg said 2026 will be the year AI starts to dramatically change the way people work.

Meta prepares 8,000 layoffs to offset AI costs

Meta will announce layoffs of about 8,000 employees on May 20, according to reports. The company announced the layoffs earlier than planned because details had leaked. A memo said the cuts are part of an effort to run the company more efficiently and offset investments in AI infrastructure. Meta plans to spend between $115 billion and $135 billion this year on data centers, chips, and other AI needs. The company declined to comment on the report.

Trump administration vows crackdown on Chinese companies using US AI models

The Trump administration is promising to crack down on foreign tech companies that exploit US artificial intelligence models. The administration singled out China at a time when the country is narrowing the gap with the US in the AI race. In a Thursday memo, Michael Kratsios, the president's chief science and technology adviser, accused foreign entities of taking advantage of US-made AI models.

Trump administration vows crackdown on Chinese companies exploiting US AI

The Trump administration is vowing to crack down on foreign tech companies that exploit US artificial intelligence models. In a Thursday memo, Michael Kratsios, the president's chief science and technology adviser, accused foreign entities of taking advantage of US-made AI models. The administration singled out China at a time when the country is narrowing the gap with the US in the AI race.

Meta to cut workforce by 10% as AI spending surges

Meta plans to cut about 8,000 jobs, or 10% of its workforce, as it invests deeper into artificial intelligence. The move is part of a broader tech-sector shift toward cost control, with Microsoft also weighing voluntary buyouts. Meta expects capital expenditures in the $115 billion to $135 billion range this fiscal year, driven by increased investment in Meta Superintelligence Labs. CEO Mark Zuckerberg said he looks forward to advancing personal superintelligence for people around the world in 2026. Analysts believe Meta will make the investment pay off by improving advertising efficiency and creating new opportunities like smart glasses.

Meta to lay off 10% of workforce as AI investment increases

Meta plans to lay off about 8,000 employees, or 10% of its workforce, starting on May 20. Analysts at Wedbush described the move as the right one, saying the cuts aim to improve efficiency while supporting increased spending on AI. The analysts believe Meta is using AI tools to automate tasks that once required large teams, which could enable a leaner operating structure. They also said further workforce reductions may be possible later this year. Meta expects to spend between $115 billion and $135 billion in 2026 on AI and infrastructure expansion.

Binance launches keyless AI wallet with 20 free trades

Binance has rolled out Agentic Wallet, a keyless account that lets users manage Web3 activities with AI agents. The wallet includes spending caps, token restrictions, and whitelisted transfer addresses for security. A monitoring dashboard gives users control over their assets. Supported operations include balance checks, transfers, and market and limit orders. The wallet works with BNB, Solana, and Ether blockchains and is compatible with frameworks like OpenClaw, Claude Code, and Cursor.

Intel shifts production to Xeon CPUs as AI demand grows

Intel said during its earnings call that server deployments are shifting, with CPU to GPU ratios in data centers moving from 1:8 to 1:4. As workloads move toward inference and other AI tasks, demand for Xeon CPUs is increasing, leading to supply constraints. Server CPU lead times are longer than usual, and Intel is shifting wafer capacity away from consumer chips to meet demand. Intel posted Q1 revenue of $13.6 billion, beating its own guidance, with its Data Center and AI group up 22% year over year to $5.1 billion.

JPMorgan AI plans spook investors

JPMorgan Chase & Co. is planning to use artificial intelligence to help its traders make better decisions. The news was the most-read article at Barron's Advisor this week. The article is part of a weekly roundup of the most popular stories.

Intel Q1 2026 earnings beat on data center and AI demand

Intel's first-quarter earnings report beat analyst expectations, driven by strong demand for its data center and AI products. The chipmaker posted $13.6 billion in Q1 revenue, well above analyst forecasts of $12.36 billion. Intel's data center group saw revenue grow 19% year over year to $4.3 billion, and its AI group saw revenue grow 25% to $1.1 billion. The strong demand was driven by cloud service providers like Amazon Web Services and Microsoft Azure, as well as enterprise customers. Intel also guided Q2 revenue above forecasts, citing continued growth in its data center and AI businesses.

Powered land and zombie projects real estate in the age of AI

Land left dormant by the decline of the chemical industry in northeastern England is now valuable for AI data centers. The Wilton International site in Teesside has power plants, water, and a grid connection, making it ideal for a data center campus. Across Britain, owners of industrial sites, investors, and even farmers are trying to cash in on the billions tech giants plan to spend on AI data centers. Plans for 119 data centers have been submitted on sites like a disused car plant and an old paint factory. The demand for grid connections has exploded, pushing wait times out to 12 to 15 years.

BLP Digital gets $50 million from Goldman Sachs for AI finance tools

BLP Digital, a Zurich-based company that uses AI to automate finance processes, has received a $50 million investment from Growth Equity at Goldman Sachs Alternatives. The company serves more than 450 corporate customers across more than 40 countries. BLP Digital's platform uses AI agents to handle tasks like accounts payable, replacing older tools like optical character recognition and robotic process automation. The platform integrates with systems like SAP, proALPHA, and Abas. Goldman Sachs Alternatives oversees $3.65 trillion in assets under management globally.

Meta to use Amazon Graviton chips to power AI services

Meta has entered into a multiyear agreement to use Amazon's Graviton chips to power its AI capabilities. The Graviton chip is a custom-designed processor optimized for cloud workloads, offering better performance and efficiency than traditional x86 processors. The deal is a significant win for Amazon's cloud business, which has been expanding its presence in the AI market. Using Graviton chips will allow Meta to process large amounts of data more efficiently and improve the accuracy and speed of its AI models.

Sources

• Meta to lay off 10% of its workforce as its AI investments surge
• Meta to lay off 10% of its workforce as AI investments surge
• Meta to cut 8,000 jobs, 10% of staff as it pours billions into AI
• Meta to lay off 10% of its workforce as its AI investments surge
• Meta Prepares 8,000 Layoffs to Offset AI Infrastructure Investments
• Trump administration vows crackdown on Chinese companies 'exploiting' AI models made in U.S.
• Trump administration vows crackdown on Chinese companies ‘exploiting’ AI models made in US
• Meta to cut workforce by ten per cent as artificial intelligence spending surges
• Meta to lay off 10% of workforce as AI investment increases
• Binance Unveils Keyless AI Wallet For Web3, Offers 20 Gas-Free Trades In Launch Promo
• CPU requirements for AI workloads are multiplying, driving intensifying shortages and price hikes — Intel already shifting production from consumer chips to Xeon as inference workloads drive server CPU ratios back toward parity with GPUs
• Week’s best: JPMorgan’s AI plans spook investors
• Intel Q1 2026 earnings beat on data center, AI demand
• Powered land and zombie projects: Real estate in the age of AI
• BLP Digital: $50 Million Investment From Goldman Sachs Alternatives To Scale Agentic AI For Core Finance Processes
• Meta to use Amazon Graviton chips to power AI services