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AI & Enterprise

AI boom reshapes U.S. corporate landscape as S&P 500 employment falls for first time in 10 years

Employment at major U.S. companies has turned to a decline as artificial intelligence spreads and firms pursue cost cuts and workforce redeployment. Total employment at S&P 500 companies fell to 28.1 million, down about 400,000 from a year earlier, marking the first annual drop since 2016. Layoffs have concentrated on white-collar roles, while some AI-related jobs command pay premiums. Companies are also cutting entry-level hiring and automating customer support and back-office work.

AI & Enterprise

AI coding startup CognitionAI seeks additional funding at $25 billion valuation

AI coding assistant startup CognitionAI is in talks to raise additional funding at a valuation of $25 billion, Bloomberg News reported on April 24, citing people familiar with the matter. The target amount has not been disclosed, but the company is aiming to raise at least several hundred million dollars. The discussions are ongoing and terms may change. CognitionAI introduced its AI coding agent Devin in March 2024.

AI & Enterprise

Enterprise AI shifts as AI PCs and workstations take bigger role

Dell Technologies said two reports it published with Intel and market researcher IDC show Asia-Pacific companies are moving beyond AI experimentation into full execution, underscoring the role of AI PCs and workstations. Dell projected 69 percent of Korean respondents consider AI functions essential when buying PCs, while 72 percent expect workstation fleets to grow over the next 5 years. The survey found Korea’s AI PC adoption is 37 percent, below the regional average.