This week was a whirlwind of tech and market news. From Barclays CEO’s warning about AI’s potential for cyberattacks to Meta’s looming layoffs, the tech world was abuzz with developments.

OpenAI saw a triple executive exit, while Netflix’s first-quarter earnings beat estimates but were met with soft guidance and a co-founder exit. Meanwhile, Taiwan Semiconductor Manufacturing Co. is leading the AI chip war.

Let’s dive into the details.

Barclays CEO Venkatakrishnan raised concerns about Anthropic’s Mythos AI at a G30 consultancy group meeting. He warned that the AI’s advanced coding capabilities could identify and exploit vulnerabilities in financial systems, posing significant risks to banks. “There will be a Mythos 2 and a Mythos 3,” he added, hinting at the rapid emergence of increasingly powerful systems.

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Meta is reportedly planning to cut 8,000 jobs as it focuses on artificial intelligence capabilities. The specifics of the cuts are yet to be finalized, and the company’s executives may adjust their plans based on AI developments. Despite significant layoffs in 2022 and 2023, Meta’s shares have risen by 5.86% since the beginning of the year.

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OpenAI lost three senior leaders on Friday. Kevin Weil, head of OpenAI for Science, Bill Peebles, creator of AI video tool Sora, and B2B engineering head Srinivas Narayanan announced their departures following the AI startup’s strategic pullback from consumer-facing moonshot projects. The company is now focusing on enterprise AI and its upcoming “superapp.”

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Netflix reported first-quarter revenue of $12.25 billion, beating analyst estimates of $12.18 billion. The company’s earnings of $1.23 per share for the quarter also surpassed estimates of 76 cents per share. However, shares slid on soft guidance and the exit of a co-founder.

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Taiwan Semiconductor reported first-quarter revenue of $35.898 billion, up 35.1% year-over-year, beating analyst consensus estimates. The company’s top-line performance aligned with its guidance, solidifying its position as a leader in the AI chip war.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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