Marvell Technology (MRVL) stock surged almost 6% on Friday after Amazon (AMZN) disclosed explosive growth in its Trainium processor business, which Marvell manufactures exclusively. Amazon CEO Andy Jassy revealed that Trainium2 became a multibillion-dollar business,

Experts say the technology could reshape the U.S. workforce, boosting productivity but potentially displacing some jobs as automation becomes more widespread.

Amazon chief executive Andy Jassy’s explanation for why the company is cutting 14,000 employees? Not money. Not even AI, but “culture.”

Amazon said Tuesday that it is cutting about 14,000 corporate roles as the e-commerce giant expands its investment in AI. Beth Galetti, Amazon’s senior vice president of people experience and

The job cuts at Amazon were announced Tuesday and account for 4% of the online retail company’s corporate workforce.

Last week, Amazon became the latest company to announce massive layoffs. In a memo, senior vice president of people experience and technology, Beth Galetti, revealed that the company would let go of “approximately 14,000” employees, citing AI innovations and a fast-changing world.

Amazon said it would cut 14,000 corporate staffers this year in a mass layoff aimed at readying the company for wide adoption of AI technology.

After a generation of record growth, Seattle's tech employers have not only pulled back on hiring but shifted billions into AI that could cut hiring even further.

Marvell Technology (MRVL) shares rose more than 5% in premarket trading on Friday after Amazon (AMZN) said it is seeing a lot of demand for its Trainium processors. “Trainium2 continues to see strong adoption,