Facebook Tech Chief Mike Schroepfer to Step Down

A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. Reuters
A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. Reuters
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Facebook Tech Chief Mike Schroepfer to Step Down

A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. Reuters
A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. Reuters

Facebook’s Chief Technology Officer Mike Schroepfer is stepping down from the social media company, taking on a part-time role while longtime executive Andrew Bosworth will replace him next year.

Schroepfer, known as “Schrep,” has been at Facebook for 13 years and is a close friend of CEO Mark Zuckerberg. He called his decision difficult “because of how much I love Facebook and how excited I am about the future we are building together” but added that his new role will let him focus on personal and philanthropic efforts while staying connected to Facebook.

The transition will happen sometime in 2022.

Bosworth, known as “Boz," is another longtime Facebook exec and a close friend of Zuckerberg's. He has most recently been in charge of Facebook's augmented reality and virtual reality efforts, as well as hardware products such as Oculus and Portal, Facebook's video calling gadget.

“As our next CTO, Boz will continue leading Facebook Reality Labs and overseeing our work in augmented reality, virtual reality and more, and as part of this transition a few other groups will join Boz’s team as well," Zuckerberg wrote in a memo to Facebook staff that was posted online. “This is all foundational to our broader efforts helping to build the metaverse, and I’m excited about the future of this work under Boz’s leadership."

Schroepfer's transition comes amid relentless challenges for Facebook that have ranged from concerns about extremism, vaccine and election-related misinformation spreading on its platforms, regulatory pressure on competition, antitrust issues and user privacy among other issues, The Associated Press reported.

Another longtime executive, Fidji Simo, left Facebook over the summer to become CEO of Instacart.



Nvidia’s Market Value Tops $4 Trillion

Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
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Nvidia’s Market Value Tops $4 Trillion

Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)

Nvidia's stock market value ended the trading session above $4 trillion for the first time on Thursday, solidifying the chipmaker's position as Wall Street's central player in a race to dominate AI technology.

Shares of Nvidia ended up 0.75% at $164.10, giving it a market value of $4.004 trillion and extending its lead over Apple and Microsoft as it benefits from a surge in demand for artificial-intelligence technologies.

Nvidia's stock market value briefly peaked above $4 trillion on Wednesday before closing at about $3.97 trillion. It is worth more than the combined value of all publicly listed companies in the UK.

Nvidia's high-end processors are at the center of a race between Microsoft, Amazon, Alphabet, Meta Platforms and other Wall Street heavyweights to build AI data centers and dominate the emerging technology.

Nvidia is also exposed to conflict between Washington and Beijing over trade, including restrictions on exports to China of its most powerful chips.

"Trade tensions and tariffs are a risk, as is competition. Greater AI adoption could shift part of the demand toward cheaper alternatives," Swissquote Bank senior analyst Ipek Ozkardeskaya wrote in a client note.

Nvidia achieved a $1 trillion market value for the first time in June 2023 and tripled it in about a year, faster than Apple and Microsoft, the only other US firms with market values above $3 trillion.

Microsoft is the second most valuable US company, with a market capitalization of $3.73 trillion. Its shares dipped 0.4% on Thursday.

Apple's stock has tumbled 15% so far in 2025, leaving its market value at $3.17 trillion, reflecting investor worries that the iPhone maker has been slow to introduce AI into its products and services.

Even after its meteoric rally, Nvidia's stock is valued at about 33 times expected earnings, below its five-year average of 41, according to LSEG.