Magnificent 7 Weekly Briefing

July 10, 2026

Microsoft cuts 4,800 jobs, Apple signs a $30B chip deal, and Amazon raises billions for AI as the industry shifts toward in-house silicon and more.

• Microsoft initiated a major workforce reduction, eliminating 4,800 roles primarily across its Xbox and sales divisions as part of a strategic pivot in its gaming business. ¹²³⁴⁵
• Nvidia faced market volatility and reports of potential delays for its next-generation Kyber AI server systems, while simultaneously launching the Isaac GR00T platform for humanoid robot development. ^67891011
• Apple secured a $30 billion multi-year deal with Broadcom for U.S.-made chips, even as reports emerged of delays and high price points for its first foldable iPhone. ^121314151617
• Meta ramped up its in-house AI silicon production to reduce reliance on external suppliers and announced the groundbreaking of its first Canadian data center in Alberta. ¹⁸¹⁹²⁰
• Tesla expanded its energy business with $9 billion in Megapack orders and launched unsupervised robotaxis in Miami, though it faces new legal challenges regarding its Autopilot and Full Self-Driving technology. ^212223242526
• Amazon entered the bond market with a $25 billion sale to fund its artificial intelligence infrastructure, while Google dealt with antitrust litigation and privacy lawsuits concerning its Nest security cameras. ^2728293031
• Other notable developments include Microsoft replacing third-party AI models with in-house versions to cut costs, and the revelation that Microsoft’s AI expansion led to a 25% increase in carbon emissions last year. ³²³³³⁴

Sources

1. After 3,200 Xbox layoffs, Microsoft tells employees more changes are coming Digit
2. 'This isn't about AI': Microsoft's Chief People Officer explains why company is cutting 4,800 jobs Moneycontrol
3. Memo: Microsoft is laying off ~4,800 employees, or ~2.1% of its workforce; most are in sales or Xbox, where ~20% of jobs are set to be cut by the end of FY 2027 Techmeme
4. Software giant cuts 6.400 jobs Dagens industri
5. Microsoft eliminates 4,800 roles in company transformation Microsoft
6. French competition authority's Nvidia probe nearing end Reuters
7. Nvidia's valuation just hit a multiyear low — even as revenue sets records Yahoo Finance
8. Nvidia market cap sheds $1 trillion: It's more of a rotation than a correction Yahoo Finance
9. Nvidia introduces Isaac GR00T platform for humanoid robot development Nvidia
10. Nvidia's Kyber rack delayed to 2028: Tech giant's stumble hands rivals a rare opening Yahoo Finance
11. Nvidia denies report its next-generation AI server faces delays, says roadmap is intact Yahoo Finance
12. Apple to Spend $30 Billion on U.S.-Made Chips From Broadcom The Wall Street Journal
13. Apple expands multiyear deal with Broadcom for U.S. chips Apple
14. Apple's first foldable reportedly enters production, but a record price and delayed sales loom DIGITIMES
15. First ever foldable iPhone faces severe delays, report says Yahoo
16. Broadcom Expands Work for Apple, Supplying Products Through 2031 Bloomberg
17. Apple's foldable iPhone may be in short supply after it launches - Engadget Engadget
18. Meta Is Massively Ramping Up Its In-House AI Silicon Production This September to Fight 'Chipflation' Android Headlines
19. Meta breaks ground on its first Canadian data center Meta
20. Meta introduces Muse Image, an AI image generation model Meta
21. Tesla Cybercab To Feature More Powerful FSD Computers, FSD Unsupervised Unlikely on Current Vehicles autoevolution
22. Tesla (TSLA) Lands $9 Billion In Megapack Orders And Expands Home Energy Push Yahoo Finance
23. Tesla's Self-Driving Story Faces New Test Yahoo Finance
24. Lawsuit alleges Tesla lied about Autopilot for 10 years Driving
25. Prosecutor: Tesla driver overrode self-driving mode in fatal crash Yahoo
26. Tesla Brings Unsupervised Robotaxis to Miami Streets Webpronews
27. Google Sued Again Over Nest 'Harvesting' Passersby Data - Law360 Law360
28. Amazon’s new bonds get cooler reception as AI debt floods market | Tribune | dailygazette.com The Daily Gazette
29. Judge Asks About Standing In Google Antitrust Case - Law360 Law360
30. Amazon Has Already Raised More Than $60 Billion In Bond Sales This Year. It Is Now Seeking To Raise Tens More IBT
31. Amazon Looks to Raise $25 Billion in US Bonds The Information
32. Microsoft's AI Buildout Sent Carbon Emissions Up 25% Last Year Forbes
33. Microsoft Replaces OpenAI, Anthropic With Own AI in Some Apps Bloomberg
34. Microsoft is Reportedly Transitioning to In-House AI Models Thurrott.com