Meta’s Restructuring Aims for a More Agile AI Operation
Meta Platforms, the parent company of Facebook and Instagram, plans to eliminate around 600 positions in its artificial intelligence (AI) division.
The tech company aims to streamline its operations, believing that its long-standing AI initiatives have become overly bureaucratic. The cuts will affect Meta’s FAIR AI research unit, product-related AI units, and infrastructure AI units. The company encourages affected employees to apply for other roles within the organization.
Amazon Continues its Relentless Pursuit of Faster Deliveries
In its continuous quest to deliver everyday items to customers more swiftly, Amazon has shifted expectations from two-day delivery to same-day and even one-hour deliveries.
Now, utilizing robots, AI, and advanced eyewear, Amazon is working to shave seconds off each delivery.
On Wednesday, Amazon showcased advanced glasses for delivery personnel, known internally as Amelia, featuring a small display that provides turn-by-turn directions, scans package codes, and captures photos as proof of delivery.
Fibra Mty to Pay Two Cash Distributions
Fibra Mty, a real estate investment trust operating in the industrial and office segments, will pay two cash distributions to its shareholders on October 31st. The total amount is equivalent to 0.084 pesos, comprising a fiscal result distribution of 0.0504670298365951 pesos per CBFI and a capital refund of 0.0336446865577301 pesos per CBFI.
The fiscal result distribution equates to approximately a 0.6% yield, considering the closing price of 13.71 pesos on October 21st at the Mexican Stock Exchange, or an annualized rate of 2.5%.
The ex-dividend and registration date is October 30th.
Meme Stocks Surge as Beyond Meat and Krispy Kreme See Price Increases
The rise in Beyond Meat and Krispy Kreme’s stock prices has reignited enthusiasm for “meme stocks,” which often surge due to their popularity on social media rather than solid financial fundamentals.
Beyond Meat, a vegetable meat substitute manufacturer, has seen a 1,236% gain in less than a week, rising from $0.52 on October 16th to $6.95.
Krispy Kreme, the doughnut chain, has advanced 36% since October 17th. While meme stocks typically rise due to hype in discussion forums and online communities, Beyond Meat also benefited from the announcement of a partnership with Walmart Inc. to expand product sales in more stores.
