Tag: The Wall Street Journal

AIBusinessTechnology

Meta Restructures AI Division with Hundreds of Layoffs Following Aggressive Hiring

Meta is cutting approximately 600 roles from its AI Superintelligence lab, according to reports. The move comes months after an aggressive hiring spree led by Mark Zuckerberg to secure top AI talent. Company executives maintain that superintelligence remains a top priority despite the restructuring.

Major Workforce Reduction in AI Unit

Meta Platforms is eliminating approximately 600 positions from its artificial intelligence division, specifically targeting its Superintelligence lab, according to reports from Axios. The significant workforce reduction comes despite CEO Mark Zuckerberg’s personal involvement in an aggressive hiring campaign earlier this year that offered multi-year contracts worth up to $1 billion to attract top AI talent.

by Oliver Keaton
AIBusinessTechnology

Nvidia Reportedly Considering Loan Guarantees for OpenAI’s $100 Billion Data Center Expansion

Nvidia is reportedly in discussions to guarantee loans for OpenAI’s ambitious data center construction plans. The potential arrangement comes as part of a broader $100 billion investment commitment between the AI giants, according to Wall Street Journal sources.

Nvidia’s Potential Financial Backing for OpenAI

Nvidia is reportedly in talks to guarantee a portion of the loans that OpenAI plans to secure for building its own data centers, according to sources familiar with the matter. The potential arrangement, first reported by The Wall Street Journal, could leave the chipmaker with billions of dollars in debt obligations if OpenAI encounters financial difficulties and cannot repay the loans.

by Oliver Keaton
EntertainmentFinance

Goldman Sachs Expands Infrastructure Financing Division to Capitalize on AI Data Center Demand

Goldman Sachs is reportedly establishing a dedicated infrastructure financing team to expand its involvement in the rapidly growing AI sector. The Wall Street giant aims to increase lending for data centers and related projects while finding investors for the associated debt. This strategic move positions the bank to capture more value from the artificial intelligence infrastructure boom.

Goldman Sachs Targets AI Infrastructure Financing Market

Goldman Sachs is reportedly expanding its presence in the competitive infrastructure financing sector, with particular focus on data centers and other projects supporting artificial intelligence development, according to sources familiar with the matter. The Wall Street giant is creating a specialized team within its global banking and markets division that will concentrate on infrastructure financing worldwide.

by Darren Holt