Tag: Verizon

  • Verizon Pledges $70 Million to Provide Free AI Training Nationwide

    Verizon Pledges $70 Million to Provide Free AI Training Nationwide

    Verizon has announced a $70 million investment in its new ‘Verizon AI Skills for America’ initiative, designed to equip job seekers, early-career professionals, displaced workers, educators, and small businesses with the skills needed for the AI-driven economy.

    The initiative combines $50 million in fresh funding with Verizon’s existing $20 million Reskilling and Career Transition Fund for departing workers. All AI training will be offered at no cost to participants.

    AI Training from Leading Technology Companies

    Verizon is creating a centralized online portal that aggregates AI training content from major tech companies, including IBM, Google, Microsoft, Anthropic, Coursera, and OpenAI. The company noted that similar premium AI training can cost more than $700 per person annually, but this initiative makes it free for students, job seekers, small businesses, educators, and professionals in career transitions.

    Community Organizations to Provide Local Support

    Recognizing that online courses alone are insufficient to close the AI skills gap, Verizon is partnering with community-based organizations such as the Local Initiatives Support Corporation (LISC), the National Association for Community College Entrepreneurship (NACCE), and Goodwill Industries International. These groups will deliver hands-on coaching, curriculum guidance, and local support to help participants turn online learning into practical skills. Goodwill is described as the largest nonprofit provider of job training and career placement services in North America.

    Initiative to Launch Nationwide

    The program will roll out nationwide, with core wrap-around services initially available in select regional markets. Verizon plans to gather real-time feedback from community partners and participants to refine the program as workforce needs evolve. The company emphasized cross-sector collaboration among private, public, and nonprofit organizations to advance AI readiness.

    Verizon CEO Dan Schulman stated that companies have a responsibility to invest in people with the same urgency as they invest in technology. The initiative was announced on September 23, 2026, as part of Verizon’s broader efforts to support the American workforce and address the AI readiness gap.

  • Alphabet to Replace Verizon in Dow Jones Industrial Average on June 29

    Alphabet to Replace Verizon in Dow Jones Industrial Average on June 29

    Alphabet, the parent company of Google, will join the Dow Jones Industrial Average on June 29, replacing Verizon Communications in the 30-stock benchmark. S&P Dow Jones Indices announced the change on June 23, placing Google’s parent company alongside other major technology groups already in the index.

    The decision comes after a difficult trading session for Alphabet stock. Its shares fell 5% on June 22 as technology stocks weakened and two senior artificial intelligence researchers prepared to join rival firms. The decline put fresh attention on Google’s ability to keep leading AI researchers.

    The change also expands the Dow’s exposure to businesses tied to cloud computing, digital advertising, and AI. It follows the additions of Amazon and NVIDIA in 2024, which moved the benchmark further toward large technology companies.

    Alphabet Replaces Verizon in the Dow

    The index provider said the change will take effect before trading opens on June 29. Alphabet will join under its Class A ticker, GOOGL, while Verizon will leave the index after holding a place since 2004.

    S&P Dow Jones Indices said Alphabet’s market value, share price, and broad business mix made it a “more representative Communication Services constituent.” Its operations cover digital advertising, cloud services, AI, hardware, healthcare technology, autonomous vehicles, and media distribution.

    Price-Weighted Structure Drives the Change

    Unlike the S&P 500, the Dow uses share prices to set each company’s weight. A company with a higher stock price has more influence on the index, regardless of its total market value.

    Verizon accounted for about 0.5% of the Dow with a lower share price. Alphabet’s higher share price will give it a larger role in daily index moves. The index provider will also adjust the Dow divisor to prevent the membership change from creating an artificial move in the benchmark.

    AI Researcher Exits Pressure Alphabet Shares

    Meanwhile, Alphabet shares closed 5% lower on June 22, marking their steepest daily fall since May 2025. The stock had fallen 6% earlier in the session and was on track to erase more than $256 billion in market value.

    John Jumper, a senior Google DeepMind scientist and 2024 Nobel Prize winner, said he would leave for Anthropic. Noam Shazeer, a Google engineering vice president and co-lead of the Gemini models, also said he would join OpenAI. Both departures came within days of each other.

    The moves added to investor concerns over competition for AI researchers. Google has invested heavily in Gemini, cloud infrastructure, and AI tools across Search, YouTube, and other services. Alphabet’s Dow entry therefore arrives as the company gains index recognition while managing changes within its AI leadership.

    Honeywell Keeps its Dow Position

    Additionally, Honeywell International will stay in the Dow after completing the planned spinoff of Honeywell Aerospace on June 29. The remaining parent company will change its name to Honeywell Technologies.

    Honeywell Aerospace will trade as a separate company but will not enter the Dow. The index will keep 30 members after the Alphabet-Verizon swap and Honeywell separation.

    Funds that track the Dow will need to adjust their portfolios before the change takes effect. They will add Alphabet shares and remove Verizon shares to match the updated index. Alphabet will join Apple, Microsoft, Amazon, NVIDIA, and Salesforce among the benchmark’s major technology-related companies.