WS #11542
Microsoft cuts 4,800 jobs (2.1% of workforce), with 3,200 in Xbox and 1,600 in commercial divisions, as part of a restructuring toward AI. Semiconductor stocks rebound with Nasdaq up ~1%, BofA reiterates bullish view on AI capex, and SK Hynix's ~$28B US IPO is set for July 10. Supreme Court declines to block Texas law requiring age verification and parental consent for app downloads, potentially impacting app store operators.
Microsoft Layoffs and Xbox Restructuring
Microsoft cuts 4,800 jobs (2.1% of workforce), with 3,200 in Xbox and 1,600 in commercial divisions, as part of a restructuring toward AI.
Semiconductor stocks rebound with Nasdaq up ~1%, BofA reiterates bullish view on AI capex, and SK Hynix's ~$28B US IPO is set for July 10.
Supreme Court declines to block Texas law requiring age verification and parental consent for app downloads, potentially impacting app store operators.