Zuckerberg addresses layoffs, blames surge in AI spending

Meta CEO Mark Zuckerberg on Thursday addressed his employees for the first time about recent layoffs at the tech giant. He attributed the planned ​layoffs to increased capital spending for AI (projected up to $145 billion in 2026). Zuckerberg described "compute infrastructure" and "people-oriented" expenses as Meta's two biggest cost centres. Notably, Meta will fire 8,000 employees on May 20.