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Tech sector cuts 120,000 jobs in AI-driven restructuring

The technology sector has announced 120,000 job cuts as companies restructure to focus on AI capabilities. This represents the largest wave of tech layoffs in recent years. Major tech companies including Google, Microsoft, and Amazon have all announced significant workforce reductions as they pivot resources toward AI development and automation. The layoffs span multiple departments, with marketing, sales, and customer support roles being particularly affected. Industry experts attribute this trend to companies seeking to reduce costs while investing heavily in AI infrastructure and talent. The restructuring reflects a fundamental shift in how tech companies operate, with automation replacing many traditional roles. Workers in affected positions are facing a challenging job market as demand shifts toward AI-related skills. Labor unions and worker advocacy groups have raised concerns about the pace and scale of these layoffs, calling for better support and retraining programs for displaced workers.
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72 sources
Published 6 hours ago

moomoo.com

AI Technology Breakthrough Boosts Market Sentiment

The catalyst for the market rise mainly comes from recent major AI technology advancements. OpenAI officially released the GPT-5.2 series models on December 11, which is the company's most advanced artificial intelligence model to date, comprehensively optimized for professional work scenarios and setting industry records across multiple benchmark tests. This move has boosted sentiment in the AI sector.

What is even more noteworthy is the technological breakthrough in the domestic AI chip field. DeepSeek-V3.1's special design using UE8M0 FP8 parameter precision for next-generation domestic chips will accelerate the large-scale deployment of domestic AI chips in the future inference-dominated market. Additionally, TileLang, a programming language launched by Peking University specifically designed for AI operator development, is expected to help domestic AI chips establish a mature software ecosystem and significantly lower the development threshold for domestic chip operators.

reuters.com8 sources

Institutions are optimistic about the industrial chain prospects

Brokerage institutions are generally optimistic about the development prospects of the AI and chip industry chain. Western Securities analysis suggests that with computing power as the foundation, model advancement, and promising applications, specific attention can be paid to AI chips, DeepSeek-V3.1 design, and domestic computing power directions. Pacific Securities states that as AI technology deeply penetrates and scenarios continue to expand, AI technology is accelerating the empowerment of electronic terminal equipment upgrades, driving breakthroughs in new display technologies, and the domestic electronic technology industry chain will gain structural growth opportunities.

Regarding the broader market, Hong Kong's Hang Seng Index rose 446.28 points on the 12th, up 1.75%, closing at 25,976.79 points; the Hang Seng Tech Index rose 103.46 points, closing at 5,638.05 points, up 1.87%. Hong Kong technology stocks collectively strengthened, with SenseTime-W and Horizon Robotics rising over 4%, while Xiaomi Corporation-W, Li Auto-W, ZTE Corporation and others rose over 2%.

China Galaxy Securities previously pointed out that "artificial intelligence" has been emphasized in important meetings for two consecutive years, confirming its strategic position as a leading and disruptive technology, as well as China's current main direction for the integration of technology and industry.

fxbaogao.comaastocks.com8 sources
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TechCrunch: Tech layoffs reach record high

techcrunch.com

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Bloomberg: AI restructuring impacts tech jobs

bloomberg.com

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AI automation displaces traditional roles

Companies are increasingly using AI to automate tasks previously done by human workers.

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