Meta’s metaverse team is now headed up by a former Fortnite exec.

Meta CEO Mark Zuckerberg told employees in an internal memo, seen by Reuters, that the company made “mistakes” in its AI-driven workforce shift and may make more as AI advances. He said Meta does not expect further company-wide layoffs this year, and will reassign staff to new roles training AI models after May’s restructuring that cut 10% and moved 7,000 employees.

The Wall Street Journal reported that OpenAI was served a subpoena Friday by a coalition of 42 US state attorneys general seeking documents on its business practices and effects on users, including advertising, user engagement, data handling, and policies for minors and seniors. OpenAI said it will engage constructively. The states also sent a letter to Meta, Anthropic, Google and xAI.

Meta Platforms said it expects 2026 capital expenditures of $125 billion to $145 billion, up from a prior forecast of $115 billion to $135 billion, according to its latest update. The company also reported a $107 billion increase in contractual commitments for multiyear cloud and infrastructure deals. In Q1, it generated $32.2 billion from operations, with $19.8 billion spent on capex, leaving $12.4 billion free cash flow.

Meta says it will launch its AI “Business Agent” globally on June 3, 2026, starting with select businesses and expanding via a waitlist. The agent handles customer support, sales/order processing, and operations across WhatsApp, Messenger, and Instagram, according to Meta. Meta plans an initial free tier, with paid pricing to follow; WhatsApp may be token-based.

The Information, cited by ZeroHedge, says OpenAI is in advanced talks to lease a proposed 10-gigawatt data center campus on federal land in Ohio. The report adds Nvidia could provide financial backing; OpenAI would control chip stacks and start payments when operations begin, with phase one targeted for 2028. The buildout could cost $500B+, and Ohio lawmakers are considering a bill to make data centers pay for power costs.

U.S. stocks rose Friday as Brent crude fell 3.4% to $87.29 a barrel, with markets citing hopes for a potential U.S.-Iran deal. The S&P 500 gained 0.5%, the Dow 0.7%, and the Nasdaq 0.3%. SpaceX shares jumped about 19% in their debut. AI stocks were mixed; Adobe fell 7.5% despite beating expectations.