Tag: CNBC

AIBusinessTechnology

Meta Cuts 600 AI Jobs Amid Major Infrastructure Investment Push

Meta is laying off approximately 600 employees in its AI division while simultaneously pursuing aggressive infrastructure investment. The company continues hiring for its superintelligence unit despite the workforce reduction.

Major Workforce Reduction in AI Division

Meta is eliminating approximately 600 positions within its artificial intelligence unit, according to internal memos obtained by multiple news outlets. The layoffs, first reported by Axios and confirmed by CNBC, affect employees across AI infrastructure, the Fundamental Artificial Intelligence Research (FAIR) group, and various product-related teams.

by Carter Wells
PolicyTrade

EU Pushes for Accelerated Plan to Tap Frozen Russian Funds for Ukraine Support

European Union heads of state are pressing for faster implementation of plans to use frozen Russian assets to support Ukraine’s defense efforts. According to documents obtained by financial media, the push comes amid increasing international pressure to find sustainable funding sources for Kyiv’s military and reconstruction needs.

EU Leaders Seek Faster Action on Russian Assets

European Union leaders are reportedly pushing for accelerated action regarding the utilization of frozen Russian assets to support Ukraine’s financial needs, according to documents viewed by financial media. The development comes as international pressure mounts to find sustainable funding mechanisms for Kyiv’s military and reconstruction requirements.

by Carter Wells