Microsoft has confirmed that it will lay-off as many as 9,000 workers, in the tech giant's latest wave of job cuts this year. The company said several divisions would be affected without specifying which ones but reports suggest that its Xbox video gaming unit will be hit.

I think that AI and generative AI specifically is the most transformative technology of our lifetime, which is saying a lot, given that we have had the internet,” he told CNBC.

Microsoft Corp. began job cuts that will impact about 9,000 workers, its second major wave of layoffs this year as it seeks to control costs while ramping up on artificial intelligence spending.