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Microsoft shares tumbled 7% in extended trading Wednesday after the tech giant reported slowing cloud growth and issued light margin guidance, despite beating Wall Street expectations on both revenue and earnings. The stock drop erased billions in market value as investors reacted to Azure cloud growth decelerating to 39% from last quarter's 40%, while the company's $37.5 billion in quarterly capital expenditures raised concerns about AI infrastructure spending outpacing retu

Amazon is preparing to eliminate nearly 30,000 corporate positions in what would become the largest workforce reduction in company history. The second wave of cuts begins this week, targeting employees across Amazon Web Services, retail operations, Prime Video, and human resources divisions. CEO Andy Jassy insists the layoffs stem from cutting bureaucracy, not financial struggles or AI replacement, though the company simultaneously announced $100 billion in AI infrastructure

Key Takeaways: Michael Burry, who predicted the 2008 housing crash, placed $1.1 billion in put options against Nvidia and Palantir — betting AI stocks will crash David Einhorn, who famously called Lehman Brothers' collapse, warns of "tremendous capital destruction" from extreme AI spending levels Burry accuses tech giants of accounting fraud, claiming they're understating depreciation by $176 billion to artificially boost earnings Tech companies have pledged over $1 trillion