India has become Meta AI’s largest market globally, WhatsApp chief Will Cathcart confirmed in May 2026, as the company highlighted the country as central to its AI expansion strategy. The platform also introduced a new incognito mode as part of its AI rollout.
Meanwhile, layoffs continued across the tech sector. Amazon cut roles in its Selling Partner Services unit, adding to more than 30,000 job losses since late 2025. Cisco announced plans to eliminate nearly 4,000 positions — roughly 5% of its workforce — redirecting that spending toward AI-led growth areas. LinkedIn said it would trim approximately 5% of its staff, affecting around 800 roles, even as the company reported 12% revenue growth in its latest quarter.
The cuts come alongside significant AI investment returns. Cisco raised its annual revenue forecast after securing $5.3 billion in AI infrastructure orders, with expectations now reaching $9 billion. Demand from hyperscalers is driving growth not only in chips but also in the networking systems that support large data centres.
Indian IT firm Mphasis is navigating a wave of senior executive departures. High-profile exits include President Elango R in December 2025, Senior Vice President Jayaprakash Bandu in January 2026, and Senior VP Vassilis Constantopoulos, who is set to leave by end of May 2026. Several other top performers at AVP level and above have also moved on.
Uber CEO Dara Khosrowshahi announced plans to open two technology centres in India — one in Bengaluru spanning approximately 1.1 million square feet with capacity for around 5,000 employees, and another in Hyderabad at roughly 901,115 square feet accommodating about 4,600 employees.
US chip startup Cerebras is set to raise $5.5 billion in an IPO on Nasdaq, pricing shares at $185 each — up from an initial guidance range of $115–$125. The offering includes 30 million shares plus an overallotment option for 4.5 million shares, valuing the company at over $55 billion including all outstanding shares, stock options, and other instruments.
Source: Tech-Economic Times