HP to Lay Off Up to 6,000 People in AI Push to Save $1 Billion

DeepSeek has achieved a significant milestone by joining OpenAI and Google in winning gold at the International Mathematical Olympiad (IMO) 2025 with its open weights model, DeepSeekMath-V2, which is now available under the Apache 2.0 license. This recognition highlights the advancements in AI-driven mathematical modeling and problem-solving capabilities.

SoftBank's shares have plummeted by 40% amid growing concerns that artificial intelligence (AI) assets are in a bubble, as indicated by a recent Bank of America survey where 54% of respondents expressed such fears. This significant decline reflects investor anxiety over the sustainability of AI valuations in the current market climate.

CloudExtel has successfully raised ₹200 crore to expand its data centre interconnect network, a move aimed at enhancing connectivity and efficiency in data management across India. This funding is crucial for the company's growth in the rapidly evolving AI and data centre landscape.

OpenAI is projected to have 220 million paying users by 2030, yet reports from HSBC indicate that the company will not achieve profitability during this period. This raises concerns about the sustainability of its business model despite significant user growth.

Wipro has announced a collaboration with the Indian Institute of Science (IISc) to advance research in artificial intelligence and quantum computing. This partnership aims to leverage IISc's expertise in these cutting-edge fields to enhance Wipro's technological capabilities and innovation potential.

Microsoft has unveiled the Fara-7B, an agentic AI model built on the Qwen framework, designed to operate directly on personal computers. This model is trained on 145,000 synthetic trajectories generated through the Magentic-One framework, enabling users to perform complex tasks locally while enhancing privacy and reducing reliance on cloud services.

Dell has raised its outlook for AI server shipments, indicating a positive trend in demand for its products, while HP has announced plans to cut up to 6,000 jobs by 2028 as part of a restructuring effort focused on artificial intelligence. This juxtaposition highlights the contrasting fortunes of two major players in the technology sector.

HP has announced plans to lay off up to 6,000 employees by 2028 as part of a significant restructuring strategy focused on enhancing productivity through increased use of artificial intelligence and automation. This decision comes amid challenges related to rising chip costs.