Snapchat’s parent company fires 20% of its employees

Published

3 years ago

August 31, 2022

Snapchat’s parent company Snap is planning to layoff 20% of its employees after a horror year for its share price

Snap’s stock price has declined by nearly 80 per cent this year, and now the company plans to axe more than a thousand jobs.

The layoffs have been planned for several weeks.

Areas of the company most likely to be targeted include Zenly, the social media app, which was bought by Snap in 2017.

The company’s Chief Business Officer is also out, moving across to Netflix to push its ad sales business.

In May the company warned it was looking for ways to cut costs, but then delivered a dismal earnings report for the second quarter.

The company has declined to comment.

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Ahron Young

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Nvidia and Amazon explore massive OpenAI funding round

Nvidia CEO downplays $100B OpenAI investment, as Amazon eyes $50B stake in AI startup

Published

1 day ago

February 2, 2026

Harvey Vargas

Nvidia CEO downplays $100B OpenAI investment, as Amazon eyes $50B stake in AI startup

In Short:
– OpenAI aims to raise up to $100 billion, with Amazon considering a $50 billion investment.
– Funding will support Project Stargate and address projected losses of $14 billion by 2026.

Nvidia’s CEO has confirmed the company will participate in a major funding round for OpenAI, though the previously mentioned $100 billion commitment is not final.

This investment comes as OpenAI seeks to raise up to $100 billion, potentially valuing the AI startup at around $830 billion. Amazon is also reportedly in discussions to contribute up to $50 billion.

The funding is intended to support OpenAI’s ambitious $500 billion Project Stargate, aimed at pushing the boundaries of artificial intelligence.

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News

Big Tech earnings spark investor unease over AI spending

Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.

Published

4 days ago

January 30, 2026

Harvey Vargas

Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.

Investors are reacting sharply to Big Tech earnings this week, sending a clear signal that massive spending must translate into real growth. Markets are becoming less forgiving as companies pour billions into artificial intelligence, data centres and future tech while returns remain uncertain.

Meta has delivered a standout performance, posting a 24 percent jump in revenue for the December quarter, fuelled by AI-powered advertising. The company is doubling down on its strategy, with aggressive investment in AI and infrastructure expected to drive a further 33 percent growth this quarter.

Microsoft and Tesla tell a more cautious story. Microsoft reported only modest growth in its Azure cloud business, raising questions about its exposure to OpenAI, while Tesla plans to double spending on AI and autonomous driving. Analysts warn of a widening gap between bold AI ambitions and what investors expect in returns.

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Tech

Memory shortages and rising prices could persist through 2027

Memory chip supply tight, prices high; Lenovo warns rising costs impact budget devices amid strong PC demand from Windows 11.

Published

1 week ago

January 27, 2026

Harvey Vargas

Memory chip supply tight, prices high; Lenovo warns rising costs impact budget devices amid strong PC demand from Windows 11.

Memory chips critical to consumer electronics and AI data centres remain in tight supply, keeping prices elevated despite production expansion by major players including Samsung and Micron.

Lenovo warns higher memory costs will hit budget devices first, even as PC demand stays strong from Windows 11 upgrades.

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