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Meta shares jump after Reuters report on plans for layoffs of 20% or more
March 16 (Reuters) - Meta Platforms shares rose nearly 3% on Monday after a Reuters report that the social media giant plans to lay off 20% or more of its workforce to offset heavy spending on artificial intelligence and bet on productivity gains from the technology. If Meta settles on the 20% figure, the cuts will be the biggest[...]
Leidos wins $455M Air Force contract
Reston-based federal contractor Leidos has won a $454.9 million contract to modernize the U.S. Air Force's Cloud One platform, the Fortune 500 company announced Wednesday. The platform hosts military software and data in the cloud. The work Leidos will perform will help the Department of Defense protect military systems and data a[...]
Anthropic sues to block Pentagon blacklisting over AI use restrictions
NEW YORK, March 9 (Reuters) - Anthropic on Monday filed a lawsuit to block the Pentagon from placing it on a national security blacklist, escalating the artificial intelligence lab’s high-stakes battle with the U.S. military over usage restrictions on its technology. The Pentagon on Thursday slapped a formal supply-chain risk desi[...]
2026 Virginia Power 50 List
Many of the 50 most powerful people in Virginia are here because they lead major corporations, such as Fortune 100 mainstays like General Dynamics and Freddie Mac, and the privately owned candy and pet care giant Mars, whose partial owner Jacqueline Mars lands on our list due to her personal wealth. Others are influential public serv[...]
Expansions grow Roanoke region’s economic landscape
Economic development wins aren’t always about big new companies moving into the area. Expansions of existing businesses can have just as large an impact on the region. That’s much of the economic development story in the past year for the section of Virginia stretching from Lynchburg west to the Roanoke and New River valleys. T[...]
Google data center campus spawns excitement, concern
Virginia’s booming data center industry is no longer confined to Northern Virginia. Google’s $14.1 million land purchase in Botetourt County last year is one of several signals that data center developers are looking farther afield — a shift met with both enthusiasm and concern. In June 2025, Botetourt County officials announced t[...]
Data centers, manufacturing drive growth in Central Virginia
While 2025 delivered fewer high-dollar investments for the commonwealth than in years past, according to Virginia Economic Development Partnership data, localities across Central Virginia spent much of the year making their past development deals a reality. The 101 growth announcements from basic industry companies that primarily[...]
2026 Virginia Power 50 List: KAREN DAHUT
Dahut became CEO of Google Public Sector, a subsidiary focused on government and educational contracting, in 2022. Before joining Google, Dahut led Booz Allen Hamilton’s $4 billion global defense business. Dahut served in the U.S. Navy for six years, including at the Navy Medical Research Institute in Maryland. As a civilian, she[...]
Emerald AI raises $22.7M, new SEC filing reports
A startup focused on the fast-growing data center industry and with a major presence in Arlington County has raised about $22.7 million in new funding, according to a Feb. 20 filing with the Securities and Exchange Commission. Emerald AI, which was incorporated last year in Washington, D.C., but has its primary offices in Clarendo[...]
Google’s Botetourt data center campus may use 8M gallons of water daily
Initially, Google will require no more than 2 million gallons of water per day at the data center campus the tech company is planning for Botetourt County, according to a utility services funding agreement signed with the Western Virginia Water Authority in October. As it grows, however, that need could increase to 8 million gallo[...]
Nvidia forecasts first-quarter sales above estimates
Feb 25 (Reuters) - Chipmaker Nvidia forecast first-quarter revenue above market estimates on Wednesday, betting on Big Tech's unabated spending on its artificial intelligence processors amid widespread scrutiny of massive AI investments. Shares of Nvidia rose over 2% in extended trading. The world's most valuable company expect[...]
AMD clinches second mega chip supply deal, this time with Meta
(Reuters) Advanced Micro Devices said on Tuesday it has agreed to sell up to $60 billion worth of artificial intelligence chips to Meta Platforms over five years in a deal that allows the Facebook owner to purchase as much as 10% of the chip firm. AMD shares rose more than 6% in early trading, while market leader Nvidia, set to re[...]
AES signs 20-year power supply deal with Google
(Reuters) Arlington County-based Fortune 500 AES said on Tuesday it has signed a 20-year agreement with Google to supply power to the U.S. tech giant's new data center planned in Wilbarger County, Texas. AES said it has also signed deals for energy generation that will be co-located with the new data center and enable Google to ex[...]
Hoskins to exit Fairfax EDA after six-year tenure
After more than six years leading the Fairfax County Economic Development Authority, Victor Hoskins plans to leave his post as president and CEO to return to the private sector, according to an announcement Monday. FCEDA credits Hoskins with helping to secure nearly 64,000 jobs. During his tenure, the county’s gross domestic produ[...]
Wall Street ends higher after Supreme Court rules against Trump tariffs
Feb 20 (Reuters) - U.S. stocks ended higher on Friday, led by gains in Alphabet, Amazon and other Wall Street heavyweights after the Supreme Court struck down President Donald Trump's global tariffs. The U.S. top court, which has a conservative majority, ruled 6-3 against Trump's global tariffs, enacted last year under a federal l[...]
Dominion prepares for 70,000 MW in data center demand
During a cold spell on Jan. 23, 2025, Dominion Energy hit an all-time peak load with 24,678 megawatts of electricity use recorded. But that's nothing compared to what future data centers will demand, the Fortune 500 utility has told the Virginia State Corporation Commission. Data centers that have filed requests with Dominion are[...]
Activist investor Ancora opposes Netflix-Warner Bros deal, backs Paramount bid
Feb 11 (Reuters) - Activist investor Ancora Holdings has built a stake in Warner Bros Discovery and plans to oppose the media company's deal with Netflix for its studios and streaming assets, in the latest twist to the heated Hollywood takeover battle. Ancora, which has a stake worth nearly $200 million, said on Wednesday that War[...]
S&P 500, Nasdaq dip with economic data, earnings in focus
Feb 10 (Reuters) - The S&P 500 and the Nasdaq closed lower on Tuesday as investors digested disappointing retail sales figures and waited for a key labor market report. The S&P 500 communication services sector was weighed down by Alphabet shares after Google's parent said it sold bonds worth $20 billion. The announceme[...]
Google sued by Autodesk over AI-powered movie-making software
Feb 9 (Reuters) - Google has been sued by Autodesk for allegedly infringing its "Flow" trademark to market competing AI-enabled software used to make movies, TV shows and video games. In a complaint filed on Friday in San Francisco federal court, Autodesk said it began using Flow in September 2022 for visual effects, production ma[...]
Amazon shares slide as $200 billion outlay fans fears over AI returns
Feb 6 (Reuters) - Amazon.com shares slid 9% on Friday after the company outlined a planned $200 billion capital outlay for the year, stoking investor concerns about the scale of Big Tech's spending on artificial intelligence. Amazon on Thursday joined rivals in forecasting sharply higher expenditures this year, as U.S. tech giants[...]
