Search, Entangled
Google ties Search to AI in schools, Canva cuts 22 percent of staff, and AMD posts a record quarter on data center demand.
The 10
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Canva cuts 22 percent of its staff, affecting 1,271 people through layoffs, role changes and relocations to centralised hubs. CEO Melanie Perkins called it the hardest moment in the company's thirteen-year history, as growth slowed for the first time in a decade at the Sydney firm.
Why it matters A large design-software company shrinking its workforce this sharply signals that even category leaders are feeling pressure when growth slows.
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AMD posts a record quarter with $13.4 billion in revenue, and forecasts about $17 billion next quarter. Data center sales nearly doubled from a year ago, and shares rose in response to booming AI chip sales.
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Google Search growth slows to 12 percent year over year in the third quarter, down from roughly 17 percent the quarter before, even as query volume grows at its fastest rate in five years and AI has yet to match search's earning power.
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Markets · Tue, Nov 3 Headlines don't give a clean index close for US stocks today, but chipmakers Advanced Micro Devices, Micron and Analog Devices were rallying while MSA Safety and FactSet Research slid.
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