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CoreWeave Sinks on Rising AI Costs, Cloudflare Cuts 20% of Workforce
Published 1 month ago
Description
Market update for Friday May 8, 2026
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In today’s episode, Zaid covers:
- The April jobs report: 115,000 jobs added, unemployment steady at 4.3%
- CoreWeave sinking after earnings as AI infrastructure costs keep climbing
- IREN jumping on a major Nvidia-backed AI infrastructure deal
- Lime filing for IPO at a potential $2 billion valuation
- Rocket Lab rising after strong revenue, backlog growth, and progress on Neutron
- Cloudflare cutting 20% of its workforce as it shifts toward agentic AI
- Nintendo raising Switch 2 prices as AI-driven chip demand makes gaming more expensive