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Ark Invest added to three existing positions as they declined 24% on Friday.

The “AI-first” era of corporate restructuring has claimed its latest high-tech workforce. On May 7, Cloudflare, Inc., sent shockwaves through the tech sector by announcing a massive reorganization plan designated to accelerate its evolution into an “agentic AI-first operating model.” And the ...

Companies are increasingly citing AI for headcount cuts. It's unclear how much is because of real productivity growth, and how much of it is an excuse to trim fat.

Cloudflare (NYSE:NET) is cutting about 20% of its global workforce, or more than 1,100 roles, as it shifts to an AI first operating model. The company plans to reorganize around smaller, AI enabled teams, with management citing broad internal adoption of AI tools as a key driver. The restructuring involves significant near term charges, with the aim of reshaping operations for efficiency and long term competitiveness in an AI focused internet. For investors tracking NYSE:NET, this...

Most tech companies talk about AI transformation as something that is coming. Cloudflare, Inc. (NET) is living it right now, and the numbers CEO Matthew Prince shared on the first-quarter earnings call are some of the most striking data points I have seen from any company this earnings season. ...

Rackspace’s memorandum of understanding with AMD outlines a governed AI cloud solution for regulated customers, and the company’s next challenge is converting this into customer workloads and recurring managed-cloud revenue.

Today, May 8, 2026, resilient job data combined with AI and tech strength to push the Nasdaq to fresh highs.

CloudFlare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn't need as many support roles.

Cloudflare (NET) announced a round of layoffs, following Coinbase's (COIN) similar announcement at the beginning of the week. Yahoo Finance Senior Business Reporter Ines Ferré, Yahoo Finance Senior Reporter Brooke DiPalma, and EMJ Capital founder and president Eric Jackson chat with Yahoo Finance's Brian Sozzi about the growing impact of artificial intelligence (AI) on the workforce.

Cloudflare (NET) said late Thursday it expects to reduce its workforce by about 1,100 people as part

“In some places, particularly at the lowest end, customers were adopting AI tools to supplement their needs as they experienced financial pressures,” CFO Erica Gessert said.

Cloudflare shares fell sharply Friday after the web security company announced a plan to lay off about 20% of its workforce, citing AI.

Cloudflare’s CEO said its recently issued severance packages, generous even against Silicon Valley standards, will “lead the industry.”

The stock market hit fresh highs as crude oil prices tumbled below $100 on Iran hopes. Earnings were mostly strong, though there were big losers too

Piper Sandler analyst James Fish raised his price target on Cloudflare (NYSE:NET) to $250 from $222, keeping an Overweight rating, even as the stock cratered after Q1 FY2026 earnings. Cloudflare shares fell roughly 24% on May 8, extending an after-hours slide following the report. For prudent investors, Fish’s call reads as a textbook buy-the-dip endorsement ... Piper Sandler Hikes Cloudflare Price Target to $250 Despite 15% After-Hours Drop: Buy the Dip?

Earnings calls have become increasingly outlets for CEOs to say they need fewer people because of AI. Or, they may need fewer people, but are not sure. Or, their AI will make the people they have more productive. The number of AI-driven layoffs is certainly rising. Yesterday, Challenger Gray announced that layoffs in April were ... AI Job Destruction Accelerates

Cloudflare (NYSE:NET) reported first-quarter 2026 results on May 7, beating analyst expectations for both revenue and earnings, but shares fell sharply after the company issued softer near-term guidance and announced a significant restructuring tied to an AI-focused operating model...

Cloudfare issued a Q2 sales forecast on Thursday that fell short of analyst expectations and said it would slash roughly 1,100 jobs, or about a fifth of its workforce, as it adopts artificial intelligence tools in its operating model.

Cloudfare issued a Q2 sales forecast on Thursday that fell short of analyst expectations and said it would slash roughly 1,100 jobs, or about a fifth of its workforce, as it adopts artificial intelligence tools in its operating model.

Yahoo Finance's Head of News, Myles Udland, and Julie Hyman discuss this latest jobs market report.

Cloudflare stock falls on a plan to cut more than 1,100 people as AI use at the cybersecurity firm grows.

US equity futures were edging higher pre-bell Friday as traders continued to monitor developments in

NET beats Q1 EPS and revenue estimates as large enterprise additions surge, lifts its FY26 outlook and unveils an agentic AI workforce cut.

Cloudflare shares tumbled more than 15% in premarket trading on Friday, after its quarterly revenue forecast disappointed investors who ‌had bet the stock would be a major beneficiary in the ‌race to adopt artificial intelligence. The networking and cybersecurity services provider will also lay off about 20% ​of staff due to greater use of AI tools, a move that Jefferies said could hurt near-term growth. Following a 43% rally since its last quarterly results in February, analysts said expectations were high for the company, only for its ‌forecast to flag slower growth ⁠as rising AI infrastructure costs squeeze margins.

Stock Market Today: The Dow Jones index rose Friday ahead of the April jobs report. Coinbase and Cloudflare dived on earnings.

News of the day for May 8, 2026

Dow Jones futures: President Donald Trump says a U.S.-Iran ceasefire is intact despite clashes. Rocket Lab, Cloudflare and IREN are big earnings movers.