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Shares of Intel Corporation (NASDAQ: INTC) rose 8% on Tuesday after Vice President JD Vance said that the U.S. will safeguard American artificial intelligence and chip technologies from theft and misuse by its “adversaries,” making a veiled reference to China. (The stock closed up by just over 6%.) We will . . . work with our allies and partners to strengthen and extend these protections and close pathways to adversaries attaining AI capabilities that threaten all of our people, Vance said in address at Frances AI Action Summit in Paris. Some authoritarian regimes have stolen and used AI to strengthen their military intelligence and surveillance capabilities, capture foreign data, and create propaganda to undermine other nations national security.” China’s chipmaking and AI technologies have been front and center at the Paris talks, with a focus on China’s DeepSeek, a reasoning AI model believed to now rival U.S.-based OpenAI’s GPT-o1 technology, but at a much lower cost. Intel is currently trying to turn around its business after the chip-manufacturing giant’s shares lost 59.60% last year. The stock is down 4.2% year to date. The question on the street remains whether Intel can get back its chipmaking edge. Help from the Trump administration could do just that. Once the largest semiconductor company in the world, Intel has lost market share in the past few years to rivals Nvidia and Broadcom after making a number of missteps, including missing out on the generative artificial intelligence boom. It eventually lost its spot in the Dow Jones Industrial Average to Nvidia. Intel is now rebuilding its business, having cut 15% of its staff as part of a $10 billion plan to reduce costs this past summer. More recently, Intel’s fourth-quarter earnings beat estimates, driving shares up 3% in after-hours trading, although it issued disappointing guidance ahead. Meanwhile, shares of Nvidia and Broadcom stayed relatively flat today, down 0.22% and up 0.89%, respectively.
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E-Commerce
Meta underwent another big round of layoffs on Monday, cutting 3,600 jobs, or roughly 5%, of its total workforce. Between 2022 and 2023, the tech giant eliminated 21,000 positions, nearly a quarter of its workforce, and continued to reduce staff in 2024. But while those other recent reductions appeared driven by organizational restructuring and cost-cutting efforts, CEO Mark Zuckerberg seemed to tie this weeks layoffs to those he deemed “low performers.” Ive decided to raise the bar on performance management and move out low performers faster, Zuckerberg wrote in an internal memo when announcing the cuts in January. We typically manage out people who arent meeting expectations over the course of a year, but now were going to do more extensive performance-based cuts during this cycle. Some of the employees who have just been let go object to this characterization, though, and they are fighting back. Layoffs are increasingly common in tech, but theyre often framed as a failure of the company and its leaders rather than a reflection of individual employees. (Although Amazon famously culls its workforce based on performance metrics, and Microsoft reportedly has plans to do the same.) Given Metas public trumpeting of the low-performer criteria for this recent initiative, however, being swept up in this batch of layoffs seems closer to just getting fired. When these newly unemployed workers apply for other jobs, the concern is that hiring managers who might ordinarily be impressed with seeing Facebook on a CV will know exactly why these applicants are suddenly on the marketand, as a result, may be less inclined to give them a chance to defend themselves in an interview. Instead of waiting to find out for sure, some laid-off workers have started preemptively defending themselves onlineand they are bringing receipts. Kaila Curry, who, until Monday, worked in product content operations at Meta, posted on LinkedIn her surprise at being lumped in with supposed low performers after receiving an exceeds expectations in her mid-year review. I frequently asked for feedback and was always told I was doing a good job, she wrote in the post. I was never placed on a [performance improvement plan], never given corrective feedback, and never properly mentored or provided clear expectations. Currys experience lines up with a new report from Business Insider, claiming Meta’s director of people experience allowed managers to add employees from higher-performance tiers to those marked for layoffs if they couldn’t reach their reduction goals just from lower-rated employees. A spokesperson for Meta tells Fast Company that these were “performance-based terminations,” adding, “Prior ratings were not downgraded. Simply because someone had a history of meeting or exceeding expectations does not mean they continue to consistently meet the bar. In searching for other potential reasons for her inclusion in the layoffs, though, Curry cites one recent incident: Perhaps I became too vocal when our shift to young adult (YA) content involved removing safeguards that protected LGBTQ+ users. The past few months have been a time of transition for Meta. The company has recently made major changes to its content moderation and DEI policies that appear in line with Zuckerbergs recent embrace of President Trump. (The CEO also donated to Trumps inauguration fund, added UFC CEO and Trump ally Dana White to Metas board, and declared on Joe Rogans podcast in January that companies currently need more “masculine energy.“) Another former employee, data scientist Joshua Latshaw, was also taken aback by his inclusion in the layoffs. As he wrote on LinkedIn, his five-year history with the company included several exceeds expectations ratings and a promotion. (His post even includes screenshots of those reviews in the comments.) According to Latshaws post, a meets most expectations in 2024 followed months of turmoil within his teamwith the managers who conducted his review having only worked with him for less than six weeks. This is the first [Performance Summary Cycle] at [M]eta that I wasn’t exactly correct in predicting my rating, he wrote. The lone meets most expectations rating in Latshaws tenure at Meta was also striking, he notes, because it followed his taking parental leave earlier in the year. Over on Reddits r/Layoffs sub, a pseudonymous poster, identifying as a senior-level Meta employee who was let go on Monday, wrote that she, too, had taken maternity leave in the lead-up to her layoff. Several posters elsewhere on Reddit describe rumors of other Meta employees being laid off after returning from a recent parental or medical leave. (Meta did not comment on this.) Regardless of what led each Meta employee to wind up in this round of layoffs, it’s clear that the “low performer” moniker struck a nerve among those affected. Metas stock has been on the rise, with shares gaining 65% in 2024. Yet, considering that Zuckerbergs big bet on the metaverse continues to cost his company billions of dollars per quarter, the CEO should maybe consider himself fortunate to have evaded the low performer label himself.
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E-Commerce
Ukraine has offered to strike a deal with President Donald Trump for continued American military aid in exchange for developing Ukraines mineral industry, which could provide a valuable source of the rare earth elements that are essential for many kinds of technology. Trump said that he wanted such a deal earlier this month, and it was initially proposed last fall by Ukrainian President Volodymyr Zelenskyy as part of his plan to strengthen Kyivs hand in future negotiations with Moscow. We really have this big potential in the territory which we control, Andrii Yermak, chief of staff to the Ukrainian president, said in an exclusive interview with The Associated Press. We are interested to work, to develop, with our partners, first of all, with the United States. Here is a look at Ukraines rare earth industry and how a deal might come together: What are rare earth elements? Rare earth elements are a set of 17 elements that are essential to many kinds of consumer technology, including cellphones, hard drives and electric and hybrid vehicles. It’s unclear if Trump is seeking specific elements in Ukraine, which also has other minerals to offer. It can be lithium. It can be titanium, uranium, many others, Yermak said. Its a lot. China, Trumps chief geopolitical adversary, is the worlds largest producer of rare earth elements. Both the U.S and Europe have sought to reduce their dependence on Beijing. For Ukraine, such a deal would ensure that its biggest and most consequential ally doesn’t freeze military support. That would be devastating for the country, which has been at war for nearly three years after Russia’s full-scale invasion on Feb. 24, 2022. The idea also comes at a time when reliable and uninterrupted access to critical minerals is increasingly hard to come by globally. What is the state of the Ukrainian minerals industry? Ukraines rare earth elements are largely untapped because of the war and because of state policies regulating the mineral industry. The country also lacks good information to guide the development of rare earth mining. Geological data is thin because mineral reserves are scattered across Ukraine, and existing studies are considered largely inadequate. The industry’s true potential is clouded by insufficient research, according to businessmen and analysts. In general, the outlook for Ukrainian natural resources is promising. The country’s reserves of titanium, a key component for the aerospace, medical and automotive industries, are believed to be among Europes largest. Ukraine also holds some of Europes largest known reserves of lithium, which is required to produce batteries, ceramics and glass. In 2021, the Ukrainian mineral industry accounted for 6.1% of the countrys gross domestic product and 30% of exports. An estimated 40% of Ukraine’s metallic mineral resources are inaccessible because of Russian occupation, according to data from We Build Ukraine, a Kyiv-based think tank. Ukraine has argued that it’s in Trumps interest to develop the remainder before Russian advances capture more. The European Commission, the executive branch of the European Union, identified Ukraine as a potential supplier for more than 20 critical raw materials and concluded that if the country joins the 27-nation EU, it could strengthen the European economy. What happens next? Details of any deal will likely develop in meetings between U.S. and Ukrainian officials. Trump announced Tuesday that he would send Treasury Secretary Scott Bessent to Ukraine to meet with Zelenskyy. This War MUST and WILL END SOON Too much Death and Destruction. The U.S. has spent BILLIONS of Dollars Globally, with little to show, Trump said in a post on his social media network about the trip. U.S. companies have expressed interest, according to Ukrainian business officials. But striking a formal deal would likely require legislation, geological surveys and negotiation of specific terms. It’s unclear what kind of security guarantees companies would require to risk working in Ukraine, even in the event of a ceasefire. And no one knows for sure what kind of financing agreements would underpincontracts between Ukraine and U.S companies. Samya Kullab, Associated Press Susie Blann and Associated Press writer Michelle L. Price contributed to this report.
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E-Commerce
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