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According to Moneyweb, the tech and finance sectors are losing approximately 28,000 jobs monthly, with companies increasingly attributing these cuts to the impact of artificial intelligence. Bankers have also expressed concerns that AI technology will lead to further job eliminations in the industry.

Asian shares rose on Thursday, driven by gains in the technology sector, particularly in Japan and South Korea, following positive earnings reports from U.S. companies like Qualcomm and Micron Technology. Meanwhile, oil prices decreased by over $1, nearing levels seen before the onset of the war with Iran. Qualcomm's stock experienced a 12% increase in after-hours trading after announcing a raise in its earnings forecast.

SpaceX shares fell below their debut price, resulting in a loss of $600 billion in value, before experiencing a recovery of 2.4 percent. This fluctuation occurred amid broader turbulence in the tech market, according to Al Jazeera.

According to TechCentral, Johannesburg's enterprise IT departments are experiencing a significant tech skills exodus, overshadowing the start-up scene in Cape Town. This trend raises concerns about the future of the tech workforce in South Africa as skilled professionals leave the region.