Meta to cut 8,000 jobs (10% of workforce) as Zuckerberg raises AI capex to $115-145B for 2026

Meta will lay off approximately 8,000 employees starting May 20, with CEO Mark Zuckerberg directly attributing the cuts to ballooning AI infrastructure costs. The company raised its 2026 capital expenditure guidance to $115-145B, nearly double 2025's $72.2B, to fund the Prometheus 1GW AI supercluster in Ohio and the $10B Hyperion 5GW facility in Louisiana. Teams are being reorganized into AI-focused pods under Chief AI Officer Alexandr Wang. Zuckerberg has set a target of $9 trillion in market capitalization for Meta.