Microsoft is set to lay off more than 5,000 employees next week, and the stock price reversed and surged 3.2%.
That’s the absurd logic of the U.S. stock market right now—layoffs = cost-cutting = a positive. Wall Street doesn’t care about those 5,000 families; it only cares how many basis points of profit margin can be squeezed out in the next quarter.
Judging by the recent pace at which tech giants are collectively downsizing, I’m more inclined to believe this isn’t just short-term cost optimization. Instead, the signal that AI is replacing middle-layer roles is accelerating and being realized. Management, administrative positions, and some engineering roles are being redefined.
For us, there are two points worth noting:
One is that the valuation logic for traditional tech stocks is shifting from “growth” to “efficiency”—the harsher the layoffs, the stronger the rebound;
Second, this efficiency tailwind ultimately flows to AI infrastructure and computing power. In the on-chain narrative, DePIN and compute tokens may attract renewed attention.
“Layoff is good news” in the short term is sentiment; in the long term, it’s a structural shift.
#Microsoft #AI裁员潮 #宏观
That’s the absurd logic of the U.S. stock market right now—layoffs = cost-cutting = a positive. Wall Street doesn’t care about those 5,000 families; it only cares how many basis points of profit margin can be squeezed out in the next quarter.
Judging by the recent pace at which tech giants are collectively downsizing, I’m more inclined to believe this isn’t just short-term cost optimization. Instead, the signal that AI is replacing middle-layer roles is accelerating and being realized. Management, administrative positions, and some engineering roles are being redefined.
For us, there are two points worth noting:
One is that the valuation logic for traditional tech stocks is shifting from “growth” to “efficiency”—the harsher the layoffs, the stronger the rebound;
Second, this efficiency tailwind ultimately flows to AI infrastructure and computing power. In the on-chain narrative, DePIN and compute tokens may attract renewed attention.
“Layoff is good news” in the short term is sentiment; in the long term, it’s a structural shift.
#Microsoft #AI裁员潮 #宏观