This collaboration combines BlackRock’s financing with Meta’s real estate and assets to expand AI-enabled infrastructure.

Visa will cut about 2,600 jobs, roughly 7% of its global workforce, redirecting investments toward technology, product operations, and AI-driven efficiency to fuel growth.

CEO Ryan McInerney pushed that the layoff move is about adapting to seize future opportunities and accelerate industry transformation, with AI reducing repetitive tasks and speeding product development.

The layoffs echo a broader fintech trend after a similar 4% cut by a peer earlier this year.

Cross-border activity remains resilient, with cross-border volume up 12% outside Europe and total cross-border volume up 13% in constant dollars.

Investors reacted positively, with Visa shares up about 1% in early trading, as Evercore ISE praised the reallocation toward higher growth and returns.

Visa’s market capitalization sits just above $683 billion following the news, with shares showing modest year-to-date gains.

Analysts project Visa to post earnings around $3.22 per share on roughly $11.4 billion in revenue for the quarter.

Meta Platforms and BlackRock unveiled a $14 billion data center partnership in El Paso, Texas, with BlackRock owning 80% and Meta 20%; BlackRock funds include $12.5 billion in debt, and Meta contributes land and assets worth about $2.3 billion.

The deal aims to create a data center campus capable of 1 gigawatt of compute capacity and is slated to operate in 2028.

Visa ended the last fiscal year with about 34,100 employees and is scheduled to report quarterly earnings after market close, with expectations around revenue and diluted EPS.

Analysts anticipate roughly $11.4 billion in revenue and about $3.23 per share in diluted earnings for the quarter.