Amazon's Challenge! Project Leo, Billion-Dollar Bet on OpenAI, and Largest Job Cuts in History!
Reading Time: 3 minutes
Amazon (i)(AMZN) is going on the offensive. With the rebranding of its satellite fleet to "Leo" and a potential $50 billion investment in OpenAI, the tech giant is aiming for the crown in both space and the AI sector. However, this ambitious transformation comes at a cost. Just before the upcoming quarterly results, the company is tightening its belt and planning mass layoffs to finance the expensive transformation and secure profit margins. Project Leo - Rebranding in the Race for Space Internet Amazon has officially renamed its satellite project...
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