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28 May 2026

Snowflake says AI is no longer just potential—it's driving business growth right now

Snowflake shares surged over 35% premarket after the company directly linked accelerating growth to AI product adoption, particularly Cortex Code. CEO Sridhar Ramaswamy stated that AI is actively driving consumption in the core platform, marking a shift from viewing AI as merely a future opportunity to recognizing it as a present revenue driver.

2 Sources

Bitcoin Miners Abandon Crypto for AI as $70 Billion in Contracts Reshape the Industry

Bitcoin mining companies are undergoing a dramatic transformation, pivoting from cryptocurrency production to AI and high-performance computing infrastructure. Firms like Hut 8, IREN, and Core Scientific have secured over $70 billion in AI-related contracts, with some miners expected to derive 70% of revenue from AI by end of 2026. The shift comes as mining costs soar and AI demand for power capacity creates new opportunities.

2 Sources

Anthropic opens Milan office, names Generali, Pirelli and Enel as Italian customers

Anthropic has formally opened its sixth European office in Milan, announcing a roster of Italian enterprise customers including Generali, Pirelli, and Enel. The AI startup plans to triple its international workforce as it accelerates European expansion, with the London office alone set to reach 800 employees.

2 Sources

Wix lays off 1,000 workers as AI capabilities and currency pressures force major restructuring

Website building company Wix is cutting 1,000 jobs—20% of its workforce—in its largest layoff ever. CEO Avishai Abrahami cited two main drivers: the strengthening Israeli shekel against the US dollar and the fast evolution of AI capabilities that's reshaping how software companies operate. The move comes as Wix's stock has plummeted more than 50% in 2026 following disappointing earnings.

4 Sources

DXC Technology launches dedicated engineering group to accelerate AI-powered transformation

DXC Technology has established DXC Engineering, a specialized global group bringing together over 11,000 engineers to help organizations design, build, and scale AI-powered products across high-stakes industries. The move signals a strategic shift as companies seek expertise to operationalize AI in complex, regulated environments where reliability and security are paramount.

2 Sources

Meta eyes cloud computing entry as AI infrastructure spending hits $125-$145 billion

Mark Zuckerberg confirmed Meta could launch a cloud computing business if its massive AI infrastructure buildout creates excess data center capacity. With capital expenditures for AI reaching up to $145 billion in 2026, Meta would compete against Amazon, Microsoft, and Google in a market where it's currently the only major hyperscaler without a cloud offering.

2 Sources

Elon Musk disputes SpaceX Anthropic deal duration, contradicting company's own IPO filing

Elon Musk says the SpaceX Anthropic deal is a 180-day lease with mutual cancellation rights, contradicting SpaceX's S-1 filing that describes a three-year commitment worth $1.25 billion monthly through May 2029. The conflicting statements raise questions about material misrepresentation during SpaceX's IPO process.

5 Sources

Advaya Capital acquires Comscore Movies for $70 million, revives Rentrak brand with AI plans

Private equity firm Advaya Capital has completed a $70 million acquisition of Comscore Movies, the industry's gold standard for box office data collection. The business will return to its former name, Rentrak, as it covers 95% of the global box office across 34,000 theaters. Advaya plans to leverage AI for enhanced data collection and predictive analytics while expanding into underpenetrated international markets.

2 Sources

HP beats Q2 earnings with 9% revenue growth as AI PC and Windows 11 refresh drive commercial demand

HP Inc. exceeded Wall Street expectations in its fiscal 2026 second quarter, reporting revenue of $14.4 billion and adjusted earnings of 86 cents per share. The PC maker's strong performance was fueled by a 13% surge in Personal Systems revenue, driven by commercial PC demand and the shift toward AI-capable hardware during the Windows 11 upgrade cycle.

2 Sources

27 May 2026

Snowflake commits $6B to AWS for Graviton CPUs as AI infrastructure spending accelerates

Cloud data storage company Snowflake has signed a $6 billion five-year commitment with Amazon Web Services, focusing on Graviton CPUs and AI accelerators. The deal represents a 2.4x increase from Snowflake's 2023 AWS agreement and signals the growing importance of CPU capacity for AI agents. Snowflake's stock surged 25-38% following the announcement and strong Q1 earnings.

12 Sources

Meta Launches Paid Subscription Plans for Facebook, Instagram, and WhatsApp with AI Tiers

Meta has introduced paid subscription plans across its core platforms—Instagram Plus, Facebook Plus, and WhatsApp Plus—priced between $2.99 and $3.99 per month. The company is also testing Meta AI subscription tiers at $7.99 and $19.99, alongside creator and business plans ranging from $14.99 to $49.99. This marks Meta's strategic shift to diversify revenue streams beyond advertising while keeping core services free.

5 Sources

India's data centre capacity set to triple by 2030 as AI adoption drives massive GPU deployment

India's data centre infrastructure is experiencing explosive growth, with capacity expected to triple from 1.6 GW to 5 GW by 2030. Rising AI adoption could drive deployment of up to 700,000 GPUs across the country's data centres, creating a $23 billion investment opportunity. Hyperscaler demand and cloud services expansion are fueling this transformation.

3 Sources

Jensen Huang Slams Executives Using AI as a Lazy Excuse for Layoffs

Nvidia CEO Jensen Huang criticized executives for blaming AI layoffs on automation, calling it a lazy excuse to sound smart. With AI driving 49,135 job cuts this year, Huang argues the real culprits are soaring costs, mismanagement, and over-hiring during the pandemic—not AI productivity gains that only recently emerged.

3 Sources

Cloudflare cuts 1,100 jobs despite growth as CEO Matthew Prince details AI replacement strategy

Cloudflare laid off over 1,100 employees—nearly 20% of its workforce—despite posting record revenue growth. CEO Matthew Prince explained the cuts aren't about struggling business but about AI job replacement, targeting middle management and 'measurer' roles while protecting builders and sellers. The internet infrastructure and cybersecurity company expects to incur up to $150 million in severance costs.

2 Sources

Samsung plans $1.5 billion chip testing plant in Vietnam to ease global memory chip shortage

Samsung Electronics is investing $1.5 billion to build its first semiconductor testing plant in Vietnam, with operations starting November 2027. The facility will focus on legacy DRAM and NAND memory chips, addressing severe shortages as AI demand constrains supplies to smartphones, laptops, and automobiles. Construction has already begun 60 kilometers north of Hanoi.

4 Sources

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