Microsoft shares cratered 10% despite beating Q2 earnings estimates, as Azure growth slowed to 39% and capex hit $37.5 billion amid AI infrastructure strains. Investors question returns on surging spending, wiping out $360 billion in value.
U.S. firms slashed 1.2 million jobs in 2025, highest since 2020, with Amazon's 16,000 and UPS's 30,000 cuts in 2026 signaling ongoing reversal of pandemic binges amid AI shifts and uncertainty.
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