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Mark Zuckerberg acknowledges mistakes in Meta AI transformation, says there will be no more large-scale layoffs this year

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On June 14, Meta CEO Mark Zuckerberg said in an internal memo that the company "has made mistakes during its AI-focused organizational shift and will almost certainly keep making them going forward," though it aims to preserve as much organizational stability as possible. Zuckerberg also emphasized that Meta does not anticipate another company-wide layoff this year. Back in May, the company completed a major restructuring, cutting roughly 10% of its global workforce and reassigning 7,000 employees to new AI workflow-related projects. He added that the company will work to secure new roles for staff focused on AI model training, allowing some employees to return to their original teams if needed. Additionally, Meta plans to expand its team-building budgets, increase spending on remote meetings and corporate events, and host a major hackathon in July to drive cross-team collaboration and develop cutting-edge AI models. Zuckerberg also pointed out that Meta has noticed issues with managers having overly wide spans of control and plans to address this practice. According to reports, Meta’s newly established Applied AI Engineering department uses a flat structure, with a ratio of individual contributors to managers as high as 50 to 1. This past April, Meta raised its 2026 capital expenditure forecast to between $125 billion and $145 billion to accelerate its AI strategy.
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The Qatar Stock Market Index rose by 2.2%, and the Kuwait Main Market Index rose by 1.3%.

June 14 — Growing hopes that the U.S.-Iran war is approaching an end pushed the Qatar Stock Market Index up 2.2%, while Kuwait’s Main Market Index rose 1.3%. Earlier, Saudi media reported that a U.S.-Iranian delegation will hold an online meeting today to sign a peace agreement, with Pakistan and Qatar serving as mediators. A memorandum of understanding will be signed during the meeting, witnessed by U.S. officials and Iranian Parliament Speaker Kalibaf. Once the agreement is finalized, the Strait of Hormuz will open, allowing all ships to pass through free of charge. (FXStreet)

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Iranian sources say US and Iran will hold a video conference and sign an agreement

Iranian sources briefed Xinhua News Agency on June 14 that Pakistan will host a video conference, with delegates from Iran and the U.S. in attendance to sign a deal.

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Reuters: Qatar Negotiator Arrives in Tehran on Sunday Morning to Finalize Agreement to End US-Iran War

June 14 — Reuters, citing sources, reported that representatives from Qatar’s negotiating team flew to Tehran on Sunday morning to finalize a deal to end the U.S.-Iran war.

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Saudi Media: US and Iran to Hold Online Meeting to Sign Agreement

June 14 (Al Arabiya) — U.S. and Iranian delegations will hold an online meeting to sign a peace agreement, with mediators from Pakistan and Qatar in attendance. The gathering will also see the signing of a memorandum of understanding (MoU) in the presence of Mans and Iranian Parliament Speaker Kalibaf. Once the agreement is finalized, the Strait of Hormuz will be opened, allowing all vessels to transit the waterway free of charge.

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Hyperliquid HIP-3 Cumulative Trading Volume Surpasses $200 Billion, S&P 500 On-Chain Ignites Chain-Linked Total Asset Race

June 14 – Hyperliquid’s HIP-3 framework, launched in October 2025, has hit major milestones: total trading volume has surged past $200 billion since its debut, while open interest (OI) reached a historical high of $3.2 billion this June—signaling a new era for on-chain traditional asset derivatives. A pivotal development came when S&P Dow Jones Indices officially licensed Trade[XYZ] to roll out the world’s first S&P 500 perpetual contract on Hyperliquid. The product provides 24/7 leverage access to eligible non-U.S. investors, settles in USDC, and has no expiration dates or rollover costs. It topped $1 billion in daily trading volume in its first week, quickly climbing into the platform’s top 10 most active trading pairs. This momentum got an extra boost from SpaceX’s recent initial public offering (IPO) on Nasdaq. After the launch, retail investors widely voiced frustration over custody limits and lock-up barriers on centralized exchanges. Simon Dedic, co-founder of Moon Rock Capita

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The Kingdom of Saudi Arabia's Public Investment Fund holds 42.4 million shares of SpaceX, with an unrealized gain of approximately $2.36 billion.

June 14 – Saudi Kingdom Holding Co. disclosed Wednesday that, per its March 31 financial filings this year, it holds 42.4 million shares of SpaceX Class A common stock, carrying a book value of $4.47 billion. At SpaceX’s last Friday closing price of $160.95 per share, the fair value of its SpaceX stake is approximately $6.83 billion (roughly 25.6 billion Saudi riyals), translating to an unrealized gain of roughly $2.36 billion versus the carrying value.

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