Ubisoft's share price plummets following internal restructure announcement, pivot to heavier use of AI — Developer falls below $1 billion EUR market cap amidst game cancellations and layoffs
by editors@tomshardware.com (Hassam Nasir) from Latest from Tom's Hardware on (#7311D)
Ubisoft just announced a massive internal restructuring that involves gutting the company of a few studios and cancelling six games, including a Prince of Persia remake. The news caused Ubisoft's stock price to fall to a historic low, wiping hundreds of millions off its market cap, reducing the company's worth to less than a billion Euros.