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Big Tech pours billions into AI as thousands lose jobs in March quarter scramble
Economy
Published on 3 May 2026
Earnings rose as jobs fell hard — the tradeoff
Big Tech’s March quarter 2026 earnings show revenue rising across the board, driven by an AI-led shift in spending. Companies are forecasting record AI infrastructure capex of over $674 billion for 2026, while also rolling out widespread job cuts. The plan: redirect savings into data centers and AI buildouts at a pace that’s reshaping workforce strategy.
- March quarter earnings point to AI-driven growth across major firms
- Projected AI infrastructure spending tops $674 billion for 2026
- Job cuts are being paired with aggressive data center expansion
- Companies plan to reinvest cost savings into AI buildouts
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times