Were AI-related layoffs a boost for stocks? Not necessarily

CNBC compiled a list of 23 S&P 500 firms across multiple sectors and industries to see how their stocks fared following layoffs linked to AI. As of May 15, 13 of those companies, or 56%, have traded in the red from the time of their layoff announcements. Of the companies whose shares fell after their AI-linked layoffs, the average decline was about 25%. Some of the companies that have seen their shares sink after slashing head count to embrace AI include Nike, Salesforce and Fiverr. Artificial intelligence has ushered in a bull run in stocks that has taken the broader...