Big Tech Spent $674B on AI. The Same Quarter, 92,000 Tech Workers Lost Their Jobs | 2026-05-12

Alphabet plans up to USD 190 billion in 2026 capex for data centers and related infrastructure — 2.1x the previous year — with further expansion expected in 2027. (Source: Nikkei Asia)

Microsoft has signed a USD 25 billion three-year investment commitment for Australian digital infrastructure, while Google is reviewing a USD 20 billion package and Amazon has committed to a USD 20 billion expansion. (Source: RenewEconomy)

The International Energy Agency (IEA) projects that AI-related compute will account for more than half of the electricity demand from newly built data centers by 2030. (Source: Associated Press)

SotaTek Holdings, a Vietnamese IT startup, opened a Fukuoka office in January 2026 and plans to scale staff there to about 100 by fiscal 2030. (Source: Nikkei Asia)

Yindjibarndi Energy Corporation (YEC) signed a 30-year power purchase agreement with Rio Tinto for up to 150MW of solar and battery output from the Jinbi project supplying the Pilbara iron ore operations, and has started construction on the first 75MW phase. (Source: RenewEconomy)

India's Electronics and IT Minister Ashwini Vaishnaw announced at the CII Annual Business Summit on May 11, 2026 that the country's third semiconductor fab will start commercial production in July and the fourth in November or December, with 12 semiconductor plants currently in the pipeline. (Source: Economic Times India)

According to French open-source researcher Clement Molin, Ukraine launched about 1,000 drones into Russia in August 2024, 3,000 in July 2025, and 7,000 in March 2026 — exceeding Russia's drone volume into Ukraine for the first time. (Source: OilPrice)

Global tech companies cut more than 92,000 jobs in the first five months of 2026, with over 45,000 affected in April alone, marking the largest wave of layoffs since 2022-2023. (Source: Economic Times India)

Alphabet, Microsoft, Meta, and Amazon are projected to spend a combined USD 674-700 billion on AI infrastructure capex in 2026 — more than double what they spent two years ago. (Source: Economic Times India)

April coal imports by South Korea, Japan, and the EU rose 27% year-over-year, according to BIMCO, the world's largest shipowner association. (Source: OilPrice)

According to a 2024 ILO report, more than 70% of the global workforce — about 2.4 billion people — faces high-risk exposure to extreme temperatures. (Source: Vox)

Pablo Hernandez de Cos, general manager of the BIS, said global sovereign debt has risen sharply over the past 15 years and that intermediation through non-bank financial institutions (NBFIs) — particularly leveraged hedge funds — has expanded. (Source: Nikkei Asia)

According to an ILO report, 11.5 million jobs in Vietnam across clerical, retail, and finance work could be affected by generative AI tools. (Source: Nikkei Asia)

China produces more than 80% of global solar components, and the US and Europe are pushing supply chain diversification to reduce dependence on China and strengthen energy security. (Source: OilPrice)

The Texas Department of Public Safety (DPS) has canceled 6,407 non-citizen commercial driver's licenses (CDLs) since December 2025, with more than 3,300 expired licenses up for reevaluation. (Source: Texas Tribune)

The Iran war has shut the Strait of Hormuz for more than two and a half months. India, which imports 90% of its crude, faces direct pressure, and the IEA describes the disruption as "the biggest supply disruption in history." (Source: BBC World)

A UK- and France-led coalition of more than 40 countries met on May 11, 2026 and agreed to contribute mine-clearing, escort, and aerial surveillance assets to a European-led naval mission to secure passage through the Strait of Hormuz. (Source: LiveMint)

Over the past 16 months the Trump administration has withdrawn from the WHO, restricted CDC scientists' international communication, laid off thousands of CDC scientists and public health staff, and is pursuing around 30 bilateral agreements. (Source: Associated Press)

India has notified the Viksit Bharat – Guarantee for Employment and Livelihood Mission (Gramin), or VB-G RAM G Act 2025, replacing MGNREGA and raising the annual rural household work guarantee from 100 to 125 days starting July 1, 2026, with a total budget of INR 1.51 trillion. (Source: LiveMint)

Queensland's Crisafulli government, in office since late 2024, has scrapped the state's 50% renewables by 2030 and 80% by 2035 targets and is spending AUD 1.6 billion to prop up aging coal plants. (Source: RenewEconomy)

Under the "20×10 regional development policy" launched by North Korea's Kim Jong Un at the Ninth Congress of the Workers' Party of Korea in 2024, factories, hospitals, service centers, and apartments are being built in 20 counties a year over a 10-year program now rolling out nationwide. (Source: Daily NK)

Since launching in 2023, the Integrity Council for the Voluntary Carbon Market's Core Carbon Principles (CCP) label has approved 9 carbon crediting standards and 40 methodologies, with 107 million credits now CCP-eligible and 63 million credits already trading. (Source: Eco-Business)

According to an IBM report, 76% of the more than 2,000 companies surveyed have established a Chief AI Officer (CAIO) role, up sharply from 26% in 2025. (Source: CNBC)

ECB Vice-President Luis de Guindos said in an interview that more than 50% of Spain's GDP growth is attributable to population growth driven by immigration. (Source: European Central Bank)

China recorded 1.697 million marriage registrations in Q1 2026, down 6.2% year-over-year and roughly half the 2017 level, according to the Ministry of Civil Affairs. (Source: Economic Times)