Tech

Meta cuts 600 AI jobs as it hires more

Meta cuts 600 AI jobs as it hires more

Good morning. We’ve got a stellar group joining us at our upcoming Fortune Brainstorm AI in San Francisco.

There will be AI startup eminences, of course, including Databricks CEO Ali Ghodsi, CoreWeave CEO Michael Intrator, Glean CEO Arvind Jain, and DataSnipper CEO Vidya Peters.

There will be Fortune 500 titans, too, including Exelon CEO Calvin Butler, Intuit CEO Sasan Goodarzi, Google Cloud CEO Thomas Kurian, Meta Business AI chief Clara Shih, and Amazon devices chief Panos Panay.

And everything in between. Rivian CEO RJ Scaringe will speak. Calm CEO David Ko will, too. And it’s my great hope that Serve Robotics cofounder MJ Chun will bring a veritable army of ‘bots to join her at our gathering. (No pressure, MJ.)

Our fifth annual Fortune Brainstorm AI will be Dec 8-9. The only way to attend is to register here.

Want to send thoughts or suggestions to Fortune Tech? Drop a line here.

Can a Fortune 500 company with 76,000 employees act like a startup?

As the rest of the world hires up for an AI future, the company once known as Facebook reportedly hopes to cut about 600 jobs in its artificial intelligence unit.

Surely that’s because that $72 billion of promised AI investment in 2025 isn’t working out in terms of ROI, right? Wrong.

According to an internal memo from Scale AI CEO-turned-Meta AI chief Alexandr Wang, reductions in the company’s so-called Superintelligence group are all about that coveted agility.