META Cuts 8,000 Jobs and Holds $145B Capex Guidance in Strategic Shift to Proprietary AI Inference

The 10% workforce reduction reallocates 7,000 roles into AI units while the company moves to reduce dependency on NVDA chips through in-house inference infrastructure. A successful pivot could deliver a 200-basis-point margin expansion, but execution risk over a multi-year capex cycle remains the central bear case for