It’s been another eventful week in tech, with AI infrastructure deals, chipmaker layoffs, and fresh commentary on the AI trade dominating headlines. Here’s a quick recap of the major tech stories that came in over the week.
Intel Launches Fresh Layoffs in Data Center and AI Unit
Intel Corp. (NASDAQ:INTC) cut jobs within its Data Center and AI Group even as the division posted 22% year-over-year revenue growth in the first quarter, part of CEO Lip-Bu Tan‘s broader plan to cut the company’s global workforce by about 15%. More than 5,000 U.S.-based employees have already been laid off since 2025.
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Jim Cramer Warns Investors Could Be ‘Slaughtered’ by Overloaded Tech Portfolios
Jim Cramer warned that overloading on AI stocks could leave investors “slaughtered” given the sector’s recent volatility, urging a rotation toward banks, industrials, and transportation names. Despite the caution, he remained bullish on Nvidia Corp. (NASDAQ:NVDA), calling it “the heart of the data center,” and praised Intel as a “triple play” and a “national treasure” ahead of its earnings. Cramer said he’d wait for a broader tech pullback before adding further AI exposure.
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Jamie Dimon Says He Has Seen the Numbers and SpaceX’s Orbital Data Centers ‘Could Actually Work’ Despite Technical, Valuation Risks
JPMorgan (NYSE:JPM) CEO Jamie Dimon said he has “seen numbers” suggesting SpaceX’s orbital data center concept could work, citing potential access to cheap solar power and reduced cooling costs. He acknowledged unresolved technical hurdles around beaming data back to Earth, and noted the concept remains commercially unproven, with AWS’s CEO previously calling it “pretty far” from reality. The comments came amid a broader thaw in Dimon’s relationship with Elon Musk.
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Why Elon Musk Thanked Micron on Tesla’s Earnings Call
Elon Musk drew attention on Tesla’s earnings call by unprompted thanking Micron Technology (NASDAQ:MU) for memory allocation, along with Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) and Samsung, as chip and memory supply becomes a growing bottleneck for Tesla’s AI ambitions. The remarks came as Musk outlined Tesla’s Terafab project, a proposed facility to consolidate chip logic, memory, and packaging development for Optimus.
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Samsung, Broadcom Ink $200 Billion AI Chip Pact
Samsung Electronics Co. Ltd. (OTC:SSNLF) and Broadcom Inc. (NASDAQ:AVGO) signed a five-year agreement worth more than $200 billion, combining Broadcom’s custom AI chip design with Samsung’s sub-2-nanometer manufacturing. The deal also includes joint development of next-generation high-bandwidth memory, including HBM4E and HBM5, intensifying Samsung’s foundry competition with TSMC. Samsung said the partnership reflects its focus on end-to-end semiconductor support for AI and high-performance computing customers.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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