A design engineer recently left their job despite good pay, health insurance, remote work, and positive coworker relationships. They were responsible for building components, maintaining the design system, and improving product quality, successfully doubling surface coverage and addressing bugs.

Meta plans to cut 10% of its workforce, equating to 8,000 employees, starting May 20. The company will also pause hiring for 6,000 open roles.

Oracle is implementing significant layoffs, with estimates indicating that between 20,000 and 30,000 employees will be affected. The notification of job cuts was communicated via email to employees early in the morning.

The AI market is poised for a potential crash despite the technology's ability to enhance productivity. Major tech companies are significantly increasing capital expenditures to distinguish their technologies, focusing on outspending competitors rather than solely on winning.

Super Micro Computer's stock fell by 25.3% to approximately $23 in premarket trading following the arrest of co-founder Yih-Shyan Liaw for allegedly conspiring to smuggle AI chips worth billions into China. This decline marks the company's largest single-day loss since October 2024.

Meta plans to lay off up to 20 percent of its workforce, potentially eliminating around 15,800 positions. This round of layoffs follows a previous reduction of 22,000 employees between November 2022 and early 2023.

Digg has announced a significant downsizing of its team, emphasizing that the decision does not reflect the talent or effort of its employees. The company acknowledges the challenges of building on the internet in 2026.

Google, Microsoft, Meta, Amazon, and several AI companies signed a pledge to cover the costs of new electricity generation for their datacenters. This agreement aims to address concerns about the impact of tech datacenters on US electricity prices for households and small businesses.

Goldman Sachs reports that AI contributed "basically zero" to U.S. economic growth last year. Tech companies, including Meta, Amazon, Google, and OpenAI, are projected to invest approximately $700 billion this year in new data centers for AI model training and operation.