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AnitaB.org CEO Brenda Wilkerson speaks on a panel with Dr. Jackie Bouvier Copeland at the 2019 Grace Hopper conference.

Shortly after the murder of George Floyd at the hands of Minneapolis police in 2020, Google was among many tech companies that set up new programs aimed at supporting Black employees. The goal, CEO Sundar Pichai wrote, was “to build sustainable equity for Google’s Black+ community, and externally, to make our products and programs helpful in the moments that matter most to Black users.”

Google’s vocal commitments included improving representation of underrepresented groups in leadership by 30% by 2025; more than doubling the number of Black workers at nonsenior levels by 2025; addressing representation issues in hiring, retention and promotions; and establishing better support for the mental and physical health for Black employees.

The move was part of a broader trend in the wake of the Floyd killing, which sparked societal unrest and drew attention to the power imbalances in corporate America and the tech industry specifically. Corporations pledged to invest millions of dollars to improve diversity in their ranks and support external groups doing work on diversity, equity and inclusion, or DEI.

But in 2023, some of those programs are in retreat.

By mid-2023, DEI-related job postings had declined 44% from the same time a year prior, according to data provided by job site Indeed. In November 2023, the last full month for which data was available, it dropped 23% year over year.

That’s a sharp contrast with the period from 2020 to 2021, when those postings expanded nearly 30%.

In line with this broader trend, both Google and Meta have cut staffers and downsized programs that fell under DEI investment.

The year’s cuts have also impacted smaller, third-party organizations who counted on big tech clients for work, despite the continued growth of those tech giants.

“Whenever there is an economic downturn in tech, some of the first budgets that are cut are in DEI, but I don’t think we’ve seen such stark contrast as this year,” said Melinda Briana Epler, founder and CEO of Empovia, which advises companies and leaders to use a research-based culture of equality. 

“When George Floyd began to become the topic of conversations, companies and executives doubled down on their commitments and here we are only a couple years later, and folks are looking for opportunities to cut those teams,” said Devika Brij, CEO of Brij the Gap Consulting, which works with tech companies’ DEI efforts. Brij said some of her clients had cut their DEI budgets by as much as 90% by midyear.

However, more than just broken promises are at stake, experts told CNBC in a series of interviews.

The cuts come at a time when technology companies are forging ahead on the biggest technology shift in a decade: artificial intelligence. If diverse people are not included in AI development, that may result in even greater power imbalances for both corporate workers, as well as consumers who will use their products.

“Our commitment to DEI remains at the center of who we are as a company,” a Meta spokesperson wrote in a statement to CNBC. “We continue to intentionally design equitable and fair practices to drive progress across our people, product, policy and partnerships pillars.”

Our workforce reductions and company-wide efforts to sharpen our focus span the breadth of our business,” said a Google spokesperson, saying that the company remains committed to underrepresented communities and DEI work. “To be absolutely clear, our commitment to that work has not changed and we invested in many new programs and partnerships this year.”

The Google spokesperson did not dispute any specifics in this story, but pointed to new investments in partnerships this year, including committing more than $5 million to historically Black colleges and universities to help build a stronger pipeline to the tech industry for underrepresented talent, and launching the Google for Startups Women Founders Fund to help women entrepreneurs.

Cuts to internal teams and programs

In 2021, after facing complaints about pay equity in its Engineering Residency program, Google said it would be sunsetting the program and replacing it with a new one called Early Career Immersion, or ECI, which is aimed at helping underrepresented talent develop skills. (Google said sunsetting Engineering Residency was an unrelated business decision.)

But Google decided not to hire a 2023 cohort of ECI software engineers, citing an uncertain hiring outlook, according to correspondence viewed by CNBC. It also laid off some staffers associated with the program.

Participants in a separate Google program called Apprenticeships also lodged complaints about a lack of pathways and pay inequities in the last year, CNBC found.

“Apprentices become part of our mission to build great products for every user, and their different experiences help ensure that our products are as diverse as our users,” Google’s Apprenticeships website states.

But Apprenticeships participants complained they were getting paid less than other engineers during the course of the 20-month program despite doing similar work. They said they were doing “Level 3” work with L3 expectations and contributing significantly to Google’s codebase while earning half of full-time L3 software engineers’ base salary, according to internal correspondence seen by CNBC.

The apprentices even confronted the executive sponsor of the program, Aparna Pappu, vice president of Google Workspace, pointing out the executive’s prior stated goal “to increase representation of underrepresented talent across Google.”

The company said that apprentices are paid a salary for the learning and training they receive as part of the program, and that it reviews compensation annually to ensure alignment with the market.

The Apprenticeships program, which included real-work job training for underrepresented backgrounds, followed other failed efforts to improve diversity. In 2021, for instance, Google said it shut down a long-running program aimed at entry-level engineers from underrepresented backgrounds after participants said it enforced “systemic pay inequities.” That same year, CNBC found the company’s separate program that worked with students from historically Black colleges, suffered extreme disorganization, racism and broken promises to students.

Google and Meta also made cuts to personnel who were in charge of recruiting underrepresented people, according to several sources and documentation.

Nearly every member of Meta’s Sourcer Development Program, more than 60 workers, was let go from the company as part of its layoff of over 11,000 workers, CNBC learned. They claimed to have received inferior severance packages compared with other workers who were laid off in the same time period. Meta’s Sourcer Development Program was intended to help workers from diverse backgrounds obtain careers in corporate technology recruiting.

Google also cut DEI leaders who worked with Chief Diversity Officer Melonie Parker, while Meta made cuts to several DEI managers — some of whom it hired in 2020.

Layoffs at Google and Meta also included employees who held leadership roles in their respective Black employee resource groups, known as ERGs.

“There’s a lowering of physiological safety with layoffs or impending layoffs, and holding ERGs accountable for that is not fair and can lead to even more burnout,” Epler said.

In addition to cutting staff who worked on DEI programs and ERGs, both Meta and Google cut planned learning and development training for underrepresented talent, according to multiple sources who asked not to be named due to fear of retaliation. Meta said that learning and development programs were “merely streamlined to make them more impactful.”

“There’s a consistent amount of folks who have completely failed, mostly because they don’t have the internal teams to keep the mission forward,” said Simone White, who is senior vice president of Revenue Blavity, a media organization that focuses on content for the Black community, and puts on AfroTech, which became a popular tech conference for Black tech talent and companies seeking to hire them.

Cuts impacting external organizations

While internal DEI programs have suffered, the cuts were arguably even harder for external organizations who expected the same amount of corporate sponsorship and support from tech companies in 2023 as they had the prior few years.

In early 2023, big tech leaders, including Google and Meta were among companies that lessened their work with third parties that were counting on projects, according to several organizations and sources who spoke with CNBC.

Brij, CEO of Brij the Gap Consulting, explained how the steep cuts have affected her firm, which consults with companies on building an effective workforce for underrepresented workers and includes workshops and programs.

“Right now with these budgets being entirely limited or cut, we’re just really backpedaling on so much of the work that we’ve done.”

Brij said some companies have even asked her to provide work for free.

“A lot of companies we worked with started to make progress before the cuts,” Epler said. “Now, it’s like some of them are essentially wiping away that work.” 

Stefania Pomponi, founder of Hella Social Impact, said executives have blamed cost-cutting as they’ve canceled contracts with the firm, which consults with companies’ leadership to create more inclusive workplaces through programs and training.

“I’ve been telling them, ‘look, your bottom line is also your people and these types of cuts are going to impact your business'” Pomponi said, pointing to various studies on diverse teams producing higher performance outcomes.

“As I talk to my colleagues across the space, some of the monies that were set aside around the time of George Floyd’s murder have not been fully extended, and that says to me that organizations like ours are needed now more than ever,” said Brenda Wilkerson, CEO of AnitaB.org, which puts on Grace Hopper, the largest women’s tech conference, which took place in September.

Some large tech companies, including Meta, pulled back from sponsorship or attendance for employees to attend Grace Hopper 2023, according to sources who asked to remain anonymous because they are not authorized to speak to the media. Some companies, including Microsoft, ended up sending some leaders to attend virtually so they wouldn’t have to pay for travel, according to two sources who wished to remain anonymous.

Microsoft said it still sent some employees physically, and both Microsoft and Meta told CNBC that Grace Hopper’s virtual option allowed more employees to participate.

Other companies such as Google, which still had a presence at the conference, retracted travel for some employees who had previously been approved to attend, according to several sources who asked to remain anonymous. Google is also among companies to reduce their spending with Blavity, the organization that puts on AfroTech, according to sources who asked not to be named due to being unauthorized to speak.

“We do have a significant amount of our existing corporate partners that are telling us ‘Hey, we can’t participate this year because our DEI team doesn’t even exist anymore,'” said Blavity’s Simone White, who declined to name specific companies. “Week to week, we have new contacts at companies, and folks we worked with for years to organize this work are no longer there.”

“To say our progress is not in peril would not be truthful,” AnitaB.org’s Wilkerson said, although she’s optimistic the tide could turn around in 2024. “We’re working with multiple challenges in our society, so we have made a lot of the progress but some of that was erased in the last year. Then you have this backlash against racial reckoning.”

The backlash she referred to includes things like the Supreme Court’s June decision to end affirmative action at colleges, as well as backlash against DEI programs in conservative circles. “You have this ‘wokeism’ drama.” Wilkerson said, pointing to Florida legislation such as banning books and downplaying Black history, as well as laws impacting the LGBTQIA+ community.

Because of that backlash, 2023 will be the last year the organization will hold Grace Hopper in Florida, Wilkerson said. It will be held in Philadelphia next year.

A Meta spokesperson said that it increased its engagement with some third-party organizations such as The Executive Leadership Council, which aims to increase Black leadership in C-suites.

DEI and AI

Wilkerson was among experts who told CNBC that DEI work is more important than ever given the growing work on artificial intelligence, which hit breakneck speed in 2023.

“We’re in a big technology inflection point, and what happens is as AI begins to take off and if organizations are less inclusive, the product is not reflective of the users,” Wilkerson said.

Apple, Google and other tech giants are still grappling with displaying and identifying images accurately. A New York Times investigation this year found Apple and Google’s Android software, which underpins most of the world’s smartphones, turned off the ability to visually search for primates for fear of labeling a person as an animal.

“We know that AI is trained on historic data and that historic data is missing critical segments of the population, and having women and noncentered folks as decision-makers is going to be critical to making sure it doesn’t happen again,” Wilkerson said.

White said companies who made cuts this year may have a difficult time building future relationships with DEI stakeholders, and it may impact their ability to attract and retain talent, should they decide to build up again in the future.

“Younger generations increasingly care who has a seat at the table,” White said. “And they’re going to remember who did what they said they were going to do.”

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U.S. greenlights AI chip exports to Gulf tech giants after Saudi Crown Prince’s Washington visit

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U.S. greenlights AI chip exports to Gulf tech giants after Saudi Crown Prince's Washington visit

U.S. President Donald Trump and Crown Prince and Prime Minister Mohammed bin Salman of Saudi Arabia stand for a photo with Tesla CEO Elon Musk, Nvidia CEO Jensen Huang and other participants at the U.S.-Saudi Investment Forum at the Kennedy Center on Nov. 19, 2025 in Washington, DC.

Win McNamee | Getty Images

The U.S. has approved sales of advanced Nvidia chips to Saudi Arabia’s HUMAIN and the United Arab Emirates’ G42, authorizing the state-backed firms to buy up to 35,000 chips, worth an estimated $1 billion.

The approval of these chip exports marks a major reversal for the U.S., which had previously balked at the idea of direct exports to state-backed AI companies in the Gulf. Export controls were put into place to avoid advanced American technology making its way to China through the back door of Gulf Arab states.  

Before former President Joe Biden left office in January, he administered a final round of export restrictions on advanced AI chips, targeting companies like Nvidia, in a sweeping effort to keep that cutting-edge U.S. intellectual property out of China’s reach.

Now, President Donald Trump is moving to expand the reach of such advanced technology in order to “promote continued American AI dominance and global technological leadership,” the U.S. Commerce Department said in a statement published on Wednesday. 

The U.S. Commerce Department approved the chip exports, with the condition the state-backed AI outfits agree to “rigorous security and reporting requirements,” overseen by the Department of Commerce’s Bureau of Industry and Security.

Saudi’s Victory Lap

The export approval follows Saudi Crown Prince Mohammed bin Salman’s trip to Washington this week where the Kingdom pledged to spend $1 trillion in the U.S., up from $600 billion originally committed during Trump’s Gulf tour in May.

“Even if we don’t get to that, both sides have skin in the game,” Afshin Molavi, senior fellow at the Foreign Policy Institute of the Johns Hopkins University School of Advanced International Studies, told CNBC’s Dan Murphy.

Saudi pledges $1 trillion investment as dealmakers head to DC

Saudi Arabia’s AI company HUMAIN, backed by its nearly $1 trillion Public Investment Fund signed a long list of partnerships with Adobe, Qualcomm, AMD, Cisco, GlobalAI, Groq, Luma, and xAI at a U.S.-Saudi Investment Forum held in Washington, D.C this week. Notably, HUMAIN will be teaming up with Elon Musk’s xAI to build a 500 megawatt data center in the Kingdom.

“What we want to do in 2026 is to build the capacity equivalent to what Saudi has built in the last 20 years, in one year,” Tareq Amin, CEO of HUMAIN, said at the summit. HUMAIN is hoping to position Saudi Arabia as the third biggest global AI hub, after the likes of the U.S. and China.

Winning over the U.S. Commerce Department

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Nvidia earnings takeaways: Bubble talk, ‘half a trillion’ forecast and China orders

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Nvidia earnings takeaways: Bubble talk, 'half a trillion' forecast and China orders

Nvidia Q3 earnings: Here are the key takeaways

Nvidia on Wednesday reported fiscal third-quarter earnings that beat expectations, and provided a strong forecast for the current quarter.

Wall Street welcomed the report, and Nvidia stock rose after the release and during the conference call. Other stocks in the so-called artificial intelligence trade also saw a boost.

A closer look at Nvidia’s report shows that it continues to dominate the market for AI chips called GPUs, and CEO Jensen Huang sounded confident in the company’s products and bullish on the company’s outlook during a call with analysts.

Nvidia said it expects about $65 billion in sales in the current quarter, which ends in late January. That would be 65% growth on an annual basis.

Here are three key takeaways from Nvidia’s earnings:

Nvidia rejects bubble talk

On Wednesday’s earnings call with analysts, Huang began his comments by rejecting the premise of an “AI bubble” held by some investors who are concerned about the billions of dollars being spent on Nvidia chips and potential return on investment.

“There’s been a lot of talk about an AI bubble,” Huang said. “From our vantage point, we see something very different.”

Huang said there were three different kinds of uses for AI that are currently growing, and that all three are contributing to the boom in infrastructure investments.

He said that non-AI software, like for data processing, was increasingly being run on the company’s GPUs, that AI will create new kinds of apps, and that “agentic AI” which doesn’t need user input, will require additional computing power.

Huang said that people will soon start appreciating what’s happening underneath the surface of the AI boom, versus “the simplistic view of what’s happening to CapEx and investment.”

Bernstein analysts said in a note that Huang’s comments helped settle investor fears of a bubble after a recent pullback in AI names, saying “perhaps the AI trade is not yet dead after all.”

“More than just good numbers, we believe investors needed some hand-holding from Jensen which he provided in spades,” the analysts wrote.

‘Half a trillion’ forecast is on track

Last month, Huang said at a conference in Washington, DC, that his company had orders for $500 billion in AI chips in 2025 and 2026.

On Wednesday, the company said that the forecast was still on track. Any long-term outlook from Nvidia is important to the technology industry because Nvidia counts many of the most powerful technology customers as customers.

Nvidia said on Wednesday that its order backlog didn’t even include a few recent announcements, like the company’s deal with Anthropic or the expansion of a deal with Saudi Arabia this week.

“The number will grow,” CFO Colette Kress said on the call, saying the company was on track to hit the forecast. “We’ll probably be taking more orders.”

“We see the opportunity to grow for quite some time,” Huang said.

Several analyst notes on Thursday drew attention to the $500 billion forecast and the addition of the recently announced deals.

Jefferies said Nvidia “answered the bell” in its earnings report and said the numbers should help steady the AI trade into the end of the year.

“We don’t expect every AI bear to be satisfied, but these results and added context from management around demand outlook should offer some near-term reprieve,” the analysts wrote.

“Insignificant” China orders

Nvidia fought over the summer to gain licenses to export its H20 chip, a slowed-down version of 2022 technology, to China. Some analysts projected the China business could be worth $50 billion per year to Nvidia.

The company eventually got the licenses this summer after Huang personally met with President Donald Trump and struck a deal to give the U.S. government 15% of China sales.

But it turns out that the sales of H20 chips during the quarter was “insignificant.” Kress told analysts that the company recorded $50 million in H20 sales during the period.

“Sizable purchase orders never materialized in the quarter due to geopolitical issues and the increasingly competitive market in China,” Kress said.

Nvidia has argued that the U.S. government should allow exports of the most advanced chips because it’s better for national security if Chinese developers get used to Nvidia technology, rather than being forced to use Chinese chips and make them better.

The H20 is old technology, but Nvidia wants to gain approval to send a version of its current-generation Blackwell chip in China.

“While we were disappointed in the current state that prevents us from shipping more competitive data center compute products to China, we are committed to continued engagement with the US and China governments and will continue to advocate for America’s ability to compete around the world,” Kress said.

Analysts at Melius said Thursday that the lack of China sales made the numbers “all the more extraordinary” and projected Nvidia would generate nearly $400 billion in free cash flow over the next nine quarters.

“Currently Nvidia isn’t delivering to China and we are not counting on this situation to get straightened out,” the firm said.

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CNBC’s Sam Subin contributed to this story.

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Waymo to begin manual drives in Minneapolis, Tampa and New Orleans, aims to open service in 2026

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Waymo to begin manual drives in Minneapolis, Tampa and New Orleans, aims to open service in 2026

Waymo driverless vehicles charge at a Waymo charging station in Santa Monica, California, U.S., May 30, 2025.

Daniel Cole | Reuters

Alphabet’s Waymo on Thursday announced that it will soon begin manually driving its robotaxi vehicles in Minneapolis, Tampa and New Orleans.

The Google sister company will start operating test drives in that trio of towns with human drivers in hopes of launching its driverless robotaxi service there as soon as next year, the company said.

If Waymo does begin operating in those markets next year, that would bring the robotaxi company’s list of 2026 planned expansions to 15 cities.

On Tuesday, Waymo said it plans to start operating its vehicles with no human driver in Dallas, Houston, San Antonio, Miami and Orlando in the coming weeks, with plans to open service to the public there next year. The company has also previously announced plans to expand to Detroit, Denver, Las Vegas, Nashville, San Diego, Washington, D.C., and London in 2026.

A spokesperson said Waymo will wait until its technology is validated in Minneapolis, Tampa and New Orleans before committing to 2026 service launches.

“2026 is very much on the table, but we’ll be led by our safety framework,” Waymo spokesperson Ethan Teicher said in an email. 

With more than 250,000 weekly paid trips, Waymo’s robotaxi service currently operates in Austin, the San Francisco Bay Area, Phoenix, Atlanta and Los Angeles markets. The company has provided more than 10 million paid rides since launching in 2020.

Last week, Waymo began offering freeway routes in the San Francisco, Phoenix and Los Angeles markets. The company said it will gradually extend freeway trips to more riders and locations over time.

The addition of freeway rides marked an important milestone for Waymo and the robotaxi industry due to the challenges conditions of operating at such high speeds. Next year, Waymo will set its sights on achieving another key milestone: operating in markets known for harsh winter conditions.

Along with Denver and Detroit, the addition of Minneapolis means Waymo believes its nearly ready to begin serving riders in regions where its driverless vehicles would need to be ready to brave snow and frigid forecasts.

“We currently operate at freezing temperatures, including with frost and hail, and we’re validating our system to navigate harsher weather conditions,” Teicher said. “We’ll have small fleets to start that we expand over time.”

This week, Amazon-owned Zoox began allowing select San Francisco users to hail its driverless vehicles. San Francisco is the second market where Zoox now offers a free service, after its launch in Las Vegas in September. The company plans to remove its rider waitlist for San Francisco entirely in 2026.

WATCH: Waymo launches paid robotaxi rides on freeways

Watch: Waymo launches paid robotaxi rides on freeways

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