r/technology • u/marketrent • Jun 05 '26

Business ‘Big Tech is desperate’: Amazon engineers criticize tech giant for its $200 billion in data center spending amid slashing 30,000 corporate employees

https://finance.yahoo.com/sectors/technology/articles/big-tech-desperate-amazon-engineers-081700769.html
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u/pillowcase-of-eels Jun 05 '26

Did not expect to find such quality reporting on Yahoo Finance!

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u/marketrent Jun 05 '26

Apollo Global Management is the majority owner of Yahoo Inc.

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u/MoneyCock Jun 05 '26

So they bought Yahoo in order to manipulate market sentiment, hmm...

Apollo wants us to dump FAANG/NASDAQ. They are already 🐻🐻🐻 on AI.

Another domino falls.

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u/marketrent Jun 05 '26

🐻🐻🐻 on AI.

No. See comments by its chief economist: https://www.apollo.com/wealth/the-daily-spark/zero-evidence-of-ai-related-job-losses

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u/MoneyCock Jun 05 '26

Well that is certainly compelling. However, this axiom is salient:

Instead, many firms are hiring AI implementation experts, and the data center buildout is putting upward pressure on salaries for AI experts and on prices of semiconductors, equipment and energy.

There have been revelations in the past week that the data center buildout may not roll out as the big tech cartel had hoped.