Bio
Saqib is COO and co-founder at A47 AI, where he runs operations and leads the prediction-markets initiative. He covers crypto, Web3, and the decentralization of the sport and entertainment economy.
Editorial Responsibility
As A47's prediction-markets and crypto editor, I am responsible for our coverage of these markets and Web3 — ensuring it is grounded in real product, data, and revenue rather than speculation.
Previous experience · 14+ years
- · WPP Media (GroupM PK, Wavemaker PH)
- · MYCO
- · ARY Digital Network
Education
MBA Marketing, SZABIST
Areas of expertise
Categories overseen
Stories from Saqib Pathan’s desk
4326 stories- Business· World
Meta announces layoffs of 8,000 employees due to rising AI infrastructure costs
Meta Platforms CEO Mark Zuckerberg announced that the company will lay off approximately 8,000 employees, representing 10% of its workforce, to address escalating compute infrastructure and personnel expenses. This decision comes as Meta's capital expenditures are projected to reach $125-145 billion in 2026, driven by significant investments in artificial intelligence. The long-term implication suggests a continued shift towards AI-driven operations, potentially leading to further workforce reductions as the company seeks efficiency amidst rising costs.
6 sourcesMay 2Low
- Business· World
Reddit reports 69% revenue growth in Q1 2026 driven by advertising surge
Reddit's first-quarter revenue jumped 69% year-on-year to $663 million, with a profit of $204 million. This significant growth is attributed to a 74% increase in advertising revenue, which exceeded Wall Street's expectations. The strong performance positions Reddit for continued growth and a positive outlook for future quarters.
3 sourcesMay 2Moderate
- Business· World
Rivian reduces DOE loan while increasing Georgia plant production capacity
Rivian has announced a reduction in its Department of Energy loan for its Georgia factory from $6.6 billion to $4.5 billion while increasing the plant's initial production capacity by 50%. This strategic adjustment follows Rivian's report of higher revenue in the first quarter of 2026, indicating improved financial health. The long-term implication suggests Rivian is positioning itself for sustainable growth in the competitive electric vehicle market.
4 sourcesMay 2Low
- Business· World
Apple reports record Q2 revenue driven by strong iPhone and Mac sales
Apple Inc. achieved a revenue of $111.2 billion for its fiscal second quarter, marking a 17% year-over-year increase. This surge is attributed to a 21.6% growth in iPhone sales and a new $100 billion share buyback program announced by the company. Looking ahead, Apple's strong financial performance positions it well for continued growth despite potential market challenges.
4 sourcesMay 2Moderate
- Business· World
Meta Raises Capital Spending Forecast to $145 Billion Amid Ongoing Losses in Metaverse
Meta has increased its capital spending forecast to $145 billion, reflecting a significant financial shift within the company. This decision comes as the company faces substantial losses exceeding $80 billion in its Metaverse division and a decline of over 20 million users. The long-term implication is that Meta's ability to convert these investments into profitable ventures will be crucial for restoring investor confidence and stabilizing its financial outlook.
4 sourcesMay 2High
- Economy· World
UK house prices rise by 3% year-on-year in April 2026
House prices in the UK increased by 3% in April 2026 compared to the previous year, marking the fastest growth in 11 months. This rise is occurring despite ongoing geopolitical tensions in the Middle East and higher interest rates affecting the housing market. The long-term implication may be a rebound in consumer confidence and stability in the housing market if external pressures are managed effectively.
3 sourcesMay 2Moderate
- Business· World
FDA advisory committee votes against AstraZeneca's camizestrant for breast cancer treatment
The FDA's Oncologic Drugs Advisory Committee voted 6 to 3 against recommending AstraZeneca's camizestrant for breast cancer treatment. This decision was triggered by concerns regarding the study design rather than the drug's safety or efficacy. AstraZeneca plans to address these concerns and continues to pursue potential approval, which could significantly impact its long-term growth strategy in oncology.
3 sourcesMay 2Low
- Business· World
ExxonMobil reports strong Q1 2026 earnings amid Iran war disruptions
ExxonMobil's Q1 2026 earnings exceeded analyst expectations despite ongoing disruptions caused by the Iran war. The company's performance was driven by increased oil production from Guyana and the Permian Basin, which helped offset supply losses. This resilience suggests that the oil industry may continue to thrive even amidst geopolitical tensions affecting supply chains.
3 sourcesMay 2Moderate
- Business· World
Nebius acquires Eigen AI for $615 million to enhance AI capabilities
Nebius has announced its acquisition of Eigen AI for approximately $615 million to bolster its AI inference business. This strategic move is driven by the need to optimize chip performance for AI tasks in a competitive market. In the long term, this acquisition positions Nebius to attract more clients and increase its market share in the rapidly evolving AI sector.
3 sourcesMay 2High
- Business· World
Apple reports record sales driven by iPhone 17 as CEO Tim Cook announces departure
Apple has experienced a significant surge in sales attributed to the overwhelming demand for the iPhone 17. This growth coincides with CEO Tim Cook's announcement of his impending departure after 15 years, paving the way for John Ternus to take over leadership. The transition in leadership and the focus on product innovation will be crucial for Apple's sustained growth amidst challenges in AI and rising operational costs.
4 sourcesMay 2
- Business· World
Tesla shareholders approve $158 billion pay package for Elon Musk for 2025
Tesla shareholders have approved a $158 billion pay package for Elon Musk for the year 2025. This decision comes as part of efforts to incentivize Musk's continued leadership amid ongoing challenges faced by the company. The long-term implications suggest that Musk's ambitious goals with both Tesla and SpaceX will continue to shape corporate governance and shareholder expectations in the tech and automotive sectors.
4 sourcesMay 2Very High
- Business· World
Exxon and Chevron report significant earnings declines amid Iran war disruptions
Exxon Mobil and Chevron have reported substantial declines in quarterly earnings due to supply disruptions linked to the ongoing Iran war. This decline is occurring now as geopolitical tensions continue to impact oil supply chains, despite both companies exceeding Wall Street profit expectations. In the long term, as the situation stabilizes, these companies may see a rebound in production and profits due to rising oil prices.
3 sourcesMay 2Moderate
- Business· World
KPMG announces 4% layoffs in U.S. advisory workforce amid declining demand
KPMG has announced layoffs affecting 4% of its U.S. advisory workforce, totaling approximately 400 consultants. This decision is driven by a slowdown in demand for advisory services and the conclusion of significant federal contracts. The restructuring may indicate a broader trend in the consulting industry as firms adapt to changing market conditions.
3 sourcesMay 2Low
- Business· World
Ares Management Raises Record $30 Billion in Q1 2026 Amid Private Credit Sector Challenges
Ares Management Corporation announced a record $30 billion in fundraising for Q1 2026, driven by strong institutional demand despite scrutiny in the private credit sector. This surge is attributed to the firm's strategic positioning and increased interest from institutional investors, even as the market faces fears of defaults and geopolitical pressures. Looking ahead, Ares is on track for a full-year record fundraising, indicating resilience in the private credit market and potential growth opportunities for the firm and its investors.
6 sourcesMay 2Low
- Business· World
Pershing Square USA IPO Raises $5 Billion Amid Mixed Market Reception
Pershing Square USA completed its initial public offering on April 29, 2026, raising $5 billion despite an 18% drop in share price on debut. The IPO was triggered by Bill Ackman's strategy to create a permanent capital vehicle similar to Berkshire Hathaway, aiming to democratize access to his investment approach. Long-term, this move may reshape investor access to concentrated equity strategies and influence future fund structures in the market.
7 sourcesMay 2Moderate
- Business· World
SpaceX prepares for IPO amid investor concerns over management control
SpaceX is advancing towards its initial public offering, with significant investments already secured from various stakeholders. The recent IPO filing reveals that investors will have limited influence over the company's management, particularly concerning Elon Musk's role. This situation may deter some potential investors while attracting others who are confident in SpaceX's future prospects.
3 sourcesMay 2Low
- Business· World
GameStop plans takeover bid for eBay amid rising share prices
On May 1, 2026, GameStop Corp. announced its intention to prepare a takeover bid for eBay Inc., leading to a significant surge in eBay's share price. This move is triggered by GameStop's accumulation of a stake in eBay and the strategic vision of CEO Ryan Cohen to create a combined retail entity focused on collectibles and e-commerce. If successful, this acquisition could elevate GameStop's valuation significantly and reshape the competitive landscape of the retail sector.
6 sourcesMay 2Very High
- Economy· World
Oil prices surge past $120 amid Iran conflict and U.S. naval blockade
Oil prices have risen significantly, exceeding $120 per barrel, due to ongoing geopolitical tensions in the Strait of Hormuz. The immediate trigger for this spike is the U.S. maintaining a naval blockade in response to the Iran conflict, coupled with Iran's recent peace proposal. Long-term implications suggest that these tensions will continue to disrupt oil supply routes and keep prices elevated in the global market.
5 sourcesMay 2Low
- Business· World
Purdue Pharma to be dissolved following $5.5 billion criminal sentence for opioid crisis role
A federal judge has approved a $5.5 billion criminal sentence for Purdue Pharma, leading to its dissolution and the establishment of a nonprofit successor. This legal action is a response to the company's aggressive marketing practices that contributed to the opioid epidemic. The long-term implication may involve increased scrutiny and accountability for pharmaceutical companies in the future.
4 sourcesMay 2Low
- Economy· MENA
Iran's currency hits record low amid US sanctions and naval blockade
Iran's currency has plunged to a record low due to economic strain from ongoing conflicts and US sanctions. The immediate trigger is the intensified US naval blockade, which is severely impacting Iran's trade with major partners like China and the UAE. Long-term, this economic pressure may force Iran to seek new alliances or strategies to mitigate the effects of sanctions and trade disruptions.
3 sourcesMay 2Low