Nebius Group signs $27 billion deal with Meta
Nebius Group, an Amsterdam-based AI infrastructure firm, has entered into a five-year agreement with Meta Platforms Inc. valued at up to $27 billion to provide AI computing capacity. The deal includes $12 billion worth of dedicated capacity starting in early 2027, with an additional commitment from Meta to purchase up to $15 billion in capacity planned by Nebius for other customers. This agreement reflects the increasing demand for AI infrastructure as tech companies seek to enhance their capabilities.
Meta to cut 20% of workforce amid AI cost pressures
Meta Platforms Inc. plans to reduce its workforce by approximately 20%, affecting around 15,000 employees, as part of a strategy to manage the high costs associated with artificial intelligence operations. This move follows previous layoffs totaling over 30,000 employees since late 2022 and reflects a broader trend in Silicon Valley where companies are increasingly leveraging AI to streamline operations. The restructuring is seen as a shift towards a leaner, AI-centric business model, with Meta's total workforce reported at approximately 79,000 as of December 2025.
OpenAI explores joint venture with private equity firms
OpenAI is in advanced discussions to establish a joint venture with private equity firms, including TPG Inc., Brookfield Asset Management, and Bain Capital, aimed at enhancing the adoption of its AI software. The venture, which targets a pre-money valuation of approximately $10 billion, would see the private equity investors commit about $4 billion for equity stakes and board representation, facilitating direct integration of AI into corporate operations.
DayOne Data Centers plans $5 billion US IPO
DayOne Data Centers Ltd., a Singapore-based data center operator, is reportedly close to filing confidentially for an initial public offering in the United States, potentially seeking to raise about $5 billion. The company may submit its draft IPO registration to the US Securities and Exchange Commission as soon as this week, although no final decisions have been made regarding the timing. DayOne is working with major financial institutions including Bank of America, Citigroup, JPMorgan Chase, and Morgan Stanley.
Samsung Electronics Union Plans 18-Day Strike Amid Pay Disputes
Choi Seung-ho, leader of the Samsung Electronics Labour Union, announced plans for an 18-day strike starting May 21, pending the outcome of ongoing negotiations, which could disrupt semiconductor production at the world's largest memory chip manufacturer. Approximately 90,000 unionized workers are eligible to vote on the strike proposal, driven by frustrations over pay disparities with competitors like SK Hynix, which recently implemented significant compensation reforms. The potential strike could impact about half of the output at Samsung's semiconductor facility in Pyeongtaek, exacerbating existing global supply bottlenecks amid rising demand for chips.
