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Tech Industry Layoffs Exceed 124,000 in First Seven Months of 2026, Already Surpassing Full Year 2025
In the first seven months of 2026, layoffs in the global tech industry exceeded 124,000, already surpassing the total for the full year of 2025, mainly from companies such as Oracle, Amazon, Dell, and Meta. Meanwhile, Meta and Amazon have raised their 2026 capital expenditure forecasts to hundreds of billions of dollars, and Oracle announced an investment of $90 billion in AI infrastructure for the next fiscal year. PwC research suggests that companies aggressively adopting AI have faster employee growth rates, and AI may ultimately become a job creator rather than a destroyer.
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Elon Musk’s close friend may amass over $100 billion in wealth from SpaceX’s IPO, sparking corporate governance concerns over related-party transactions
According to Fortune magazine, Antonio Gracias, founder of Valor Equity Partners and a close confidant of Elon Musk, stands to amass over $100 billion in wealth from SpaceX’s anticipated IPO. Valor reportedly holds more than 500 million shares of SpaceX’s Class A stock. If SpaceX goes public at the rumored valuation of $1.75 trillion to $2 trillion, the value of Valor’s stake could reach $90 billion to $140 billion. Meanwhile, related-party transactions totaling approximately $20 billion between SpaceX and Valor have sparked corporate governance concerns. Documents reveal that xAI-related subsidiaries under SpaceX signed three GPU infrastructure leasing agreements with Valor, all backed by payment guarantees from SpaceX. PricewaterhouseCoopers (PwC), the auditing firm, contends that these transactions are substantively closer to loans than standard sale-and-leaseback arrangements and has therefore required that roughly $9 billion in associated debt be recorded on SpaceX’s balance sheet.
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