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Tech's Wild Week: Trade Secret Raids, AI Market Drama, and Layoff Waves

MarketDash Editorial Team
8 days ago
This week brought a dramatic mix of corporate intrigue, from prosecutors raiding a former TSMC executive's home over alleged Intel trade secrets to Baidu slashing up to 40% of some teams. Meanwhile, a Google DeepMind scientist called out the market's AI panic.

Tech had quite the week. Between trade secret drama that escalated to actual police raids, market freakouts over AI chips, and layoffs hitting Chinese tech giants, there was plenty to keep track of. Here's what happened.

Former TSMC Executive's Home Raided in Intel Trade Secret Case

Things got serious for Wei-Jen Lo, a former vice president at Taiwan Semiconductor Manufacturing Co. (TSMC). Taiwanese prosecutors showed up at his home with a search warrant after TSMC accused him of leaking confidential information to Intel Corp. (INTC). Lo joined Intel back in October, and now he's under investigation with his computers and storage devices seized as potential evidence. That's one way to make your former employer mad.

Google Scientist Slams Market Reaction to Nvidia and AMD Selloff

When Nvidia Corp. (NVDA) and Advanced Micro Devices, Inc. (AMD) stocks dropped sharply, a Google DeepMind researcher had some thoughts. The selloff came after reports surfaced that Meta Platforms Inc. (META) might start using Google's AI chips for its data centers. Apparently, the market's understanding of AI hardware demand left something to be desired, at least according to someone who actually works on AI for a living.

Baidu Cuts Deep After Weak Quarterly Results

Baidu Inc. (BIDU) started swinging the axe after disappointing third-quarter results. The Chinese tech company launched layoffs affecting multiple business units, with cuts expected to continue through year-end. Nobody knows the exact headcount reduction yet, but Reuters reported some teams could see cuts as high as 40%. That's not trimming fat—that's restructuring entire operations.

Amazon Blocks New York Labor Law Enforcement

Amazon.com Inc. (AMZN) notched a legal win when a federal judge blocked New York from enforcing a new labor law. The statute would have allowed the state to step into private-sector union disputes, but the judge issued an injunction pausing enforcement while Amazon's broader legal challenge moves forward. Score one for the e-commerce giant's legal team.

Senators Demand Probe Into Meta's Ad Revenue From Scams

U.S. Senators Richard Blumenthal and Josh Hawley aren't happy with Meta Platforms, Inc. (META). They're demanding an investigation into whether the company profits from fraudulent advertisements running on its platforms. The senators cited reports suggesting Meta could be pulling in as much as $16 billion annually from these sketchy ads. If that number's anywhere close to accurate, it's going to be a very uncomfortable conversation.

Back to News

Tech's Wild Week: Trade Secret Raids, AI Market Drama, and Layoff Waves

MarketDash Editorial Team
8 days ago
This week brought a dramatic mix of corporate intrigue, from prosecutors raiding a former TSMC executive's home over alleged Intel trade secrets to Baidu slashing up to 40% of some teams. Meanwhile, a Google DeepMind scientist called out the market's AI panic.

Tech had quite the week. Between trade secret drama that escalated to actual police raids, market freakouts over AI chips, and layoffs hitting Chinese tech giants, there was plenty to keep track of. Here's what happened.

Former TSMC Executive's Home Raided in Intel Trade Secret Case

Things got serious for Wei-Jen Lo, a former vice president at Taiwan Semiconductor Manufacturing Co. (TSMC). Taiwanese prosecutors showed up at his home with a search warrant after TSMC accused him of leaking confidential information to Intel Corp. (INTC). Lo joined Intel back in October, and now he's under investigation with his computers and storage devices seized as potential evidence. That's one way to make your former employer mad.

Google Scientist Slams Market Reaction to Nvidia and AMD Selloff

When Nvidia Corp. (NVDA) and Advanced Micro Devices, Inc. (AMD) stocks dropped sharply, a Google DeepMind researcher had some thoughts. The selloff came after reports surfaced that Meta Platforms Inc. (META) might start using Google's AI chips for its data centers. Apparently, the market's understanding of AI hardware demand left something to be desired, at least according to someone who actually works on AI for a living.

Baidu Cuts Deep After Weak Quarterly Results

Baidu Inc. (BIDU) started swinging the axe after disappointing third-quarter results. The Chinese tech company launched layoffs affecting multiple business units, with cuts expected to continue through year-end. Nobody knows the exact headcount reduction yet, but Reuters reported some teams could see cuts as high as 40%. That's not trimming fat—that's restructuring entire operations.

Amazon Blocks New York Labor Law Enforcement

Amazon.com Inc. (AMZN) notched a legal win when a federal judge blocked New York from enforcing a new labor law. The statute would have allowed the state to step into private-sector union disputes, but the judge issued an injunction pausing enforcement while Amazon's broader legal challenge moves forward. Score one for the e-commerce giant's legal team.

Senators Demand Probe Into Meta's Ad Revenue From Scams

U.S. Senators Richard Blumenthal and Josh Hawley aren't happy with Meta Platforms, Inc. (META). They're demanding an investigation into whether the company profits from fraudulent advertisements running on its platforms. The senators cited reports suggesting Meta could be pulling in as much as $16 billion annually from these sketchy ads. If that number's anywhere close to accurate, it's going to be a very uncomfortable conversation.