Hit by AI, edtech firm Chegg slashes jobs and names new CEO in major overhaul

Amazon is set to cut around 30,000 corporate jobs across various departments, including logistics and cloud computing, which raises concerns about the company's future and employee morale. This news comes at a time when Qualcomm is making headlines for its successful launch of new chips aimed at the AI data center market, positioning itself as a competitor to Nvidia. The juxtaposition of job losses at Amazon and Qualcomm's growth highlights the contrasting fortunes within the tech industry, making it a significant development for both employees and investors.

The CEO of Mueller Industries has sold $36.3 million worth of stock, a significant move that raises questions about the company's future direction. While such sales can sometimes indicate a lack of confidence in the company's prospects, they can also be part of a planned financial strategy. Investors will be watching closely to see how this impacts the company's stock performance and overall market perception.

Celestica's shares have surged following a strong earnings report, driven by increasing demand for AI technologies. This positive performance not only exceeded market expectations but also led the company to raise its financial outlook for the upcoming quarters. The growth in AI is a significant trend, and Celestica's ability to capitalize on this demand highlights its strategic positioning in the tech industry, making it a company to watch.

The ongoing AI race is increasingly tied to energy resources, with natural gas emerging as the leading power source for AI infrastructure. This shift is significant as it highlights the importance of energy in technological advancements, and regions rich in natural gas are poised to benefit economically and strategically. As governments and companies invest heavily in AI, the reliance on natural gas could reshape energy markets and influence global competitiveness.

Meta has appointed Vishal Shah, a long-time insider, to a pivotal role in its artificial intelligence division. This move is significant as it reflects Meta's commitment to enhancing its AI capabilities, which are crucial for the company's future growth and innovation. Shah's extensive experience within the company positions him well to drive forward Meta's AI initiatives, potentially leading to groundbreaking advancements in technology.

Qualcomm has made a significant move into the datacenter AI market by securing a deal in Saudi Arabia. This partnership not only enhances Qualcomm's position in the rapidly growing AI sector but also reflects the increasing global demand for advanced computing solutions. As companies worldwide seek to leverage AI for improved efficiency and innovation, Qualcomm's entry into this space could lead to exciting developments and opportunities for growth.

Novartis CEO has publicly defended the company's recent $12 billion acquisition of Avidity, describing it as an 'appropriate risk to take.' This deal is significant as it highlights Novartis's commitment to expanding its portfolio in innovative therapies, which could lead to breakthroughs in treatment options for patients. The CEO's confidence in this investment reflects a strategic vision for the future of the company and the pharmaceutical industry.

As drilling demand declines, major oilfield companies are shifting their focus towards the rapidly growing AI infrastructure sector. This pivot not only reflects their adaptability in a changing market but also highlights the increasing importance of technology in optimizing operations and reducing costs. By embracing AI, these companies are positioning themselves for future growth and sustainability, which is crucial in an industry facing environmental scrutiny.

Emmanuel Acho is making waves as he transitions from an NFL linebacker to a prominent media figure. In a recent conversation with Alex Rodriguez and Jason Kelly, he discussed his journey and the impact of his show 'Uncomfortable Conversations.' Now, he's taking it a step further with his new initiative, 'Speakeasy.' This evolution is significant as it showcases how athletes can successfully pivot to new careers, using their platforms to foster important dialogues.

Anteris has seen a significant boost in its stock price following the enrollment of its first patients in a pivotal heart valve trial. This development is crucial as it marks a key step in the company's efforts to advance its innovative heart valve technology, which could potentially improve treatment options for patients with heart conditions. Investors are optimistic about the trial's implications for Anteris's future, highlighting the importance of clinical advancements in the medical field.

Vestand has announced the appointment of a new Chief Financial Officer and Chief Commercial Officer as part of its leadership restructuring. This move is significant as it reflects the company's commitment to strengthening its executive team and enhancing its strategic direction. With fresh leadership in key financial and commercial roles, Vestand aims to drive growth and innovation, positioning itself for future success.

Amazon is reportedly planning to cut as many as 30,000 corporate jobs, a move that could significantly impact its workforce and the broader job market. This decision comes amid ongoing economic challenges and reflects the company's efforts to streamline operations. Such large-scale layoffs not only affect the employees directly involved but also raise concerns about the stability of the tech industry and consumer confidence.

Nucor has reported a profit that exceeds analysts' expectations, driven by robust shipments and favorable pricing. This is significant as it highlights the company's strong market position and operational efficiency, suggesting a positive outlook for the steel industry amidst fluctuating demand.

The recent midterm elections in Argentina are being viewed as a confidence vote for President Javier Milei and his radical economic reforms. Although his party, La Libertad Avanza, did not secure a parliamentary majority, Milei now has greater leeway to implement his agenda, which includes significant budget cuts and public sector layoffs. His efforts to reduce inflation have garnered international attention, including praise from US President Donald Trump. This situation is crucial as it could shape Argentina's economic future and influence global perceptions of Milei's policies.