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Engaged Capital Pushes Cognex to Cut Costs, Says AI Firm’s Stock Could Double

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Activist investor Engaged Capital has taken a major stake in Cognex (CGNX.O) and is pressing the machine-vision systems maker to slash costs and hire cost consultants — a move it says could help the company’s share price nearly double within two years. Speaking at the 13D Monitor Active-Passive Investment Summit in New York, Engaged’s founder and chief investment officer Glenn Welling described Cognex as “an AI company without the AI valuation.”

Welling did not reveal the size of the stake but called it one of Engaged’s largest holdings. Regulatory filings show the hedge fund manages roughly $700 million in assets. Cognex, which develops smart cameras and barcode readers used by clients such as Amazon and BMW, has a market capitalization of $7.7 billion, though its stock has dropped 50% from its all-time high four years ago.

Now under new leadership — with CEO Matt Moschner and CFO Dennis Fehr — Engaged sees an opportunity for a turnaround. Welling argued that Cognex’s profit margins could rise from 17% to around 40% through tighter spending and sharper focus on high-return R&D projects. By comparison, competitor Keyence maintains margins above 50%.

Cognex has recently revamped some of its products, using artificial intelligence to make them easier to install and operate, opening access to a broader customer base. Welling said Engaged has already held constructive talks with Cognex management and connected them with cost optimization consultants who have worked successfully with other Engaged-backed companies.

Samsung to Acquire U.S. Healthcare Platform Xealth to Boost Mobile Health Business

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Samsung Electronics announced on Tuesday it has signed an agreement to acquire Xealth, a U.S.-based digital healthcare platform, aiming to expand its mobile healthcare services. The financial terms of the deal were not disclosed.

Samsung said the acquisition is intended to create synergy by combining its advanced wearable technology with Xealth’s platform, which manages digital health programs and connects care providers—including over 500 U.S. hospitals—with patients through data integration.

This move aligns with Samsung’s broader strategy to diversify beyond its traditional semiconductor and smartphone operations. The company is increasingly investing in growth areas such as medical technology, consumer audio, climate control systems, and robotics.

Earlier this year, Samsung agreed to acquire Germany’s FlaktGroup for €1.5 billion ($1.68 billion), targeting the booming demand for data center cooling, driven by AI projects. At a March shareholder meeting, Chairman Jay Y. Lee emphasized Samsung’s focus on “meaningful” acquisitions to drive growth, especially after falling behind rivals in the AI chip market led by Nvidia.

Notably, on the same day as the Xealth announcement, Samsung forecasted a sharp 56% decline in its second-quarter operating profit, mainly due to weak AI chip sales—raising investor concerns about the company’s semiconductor business recovery.

Microsoft Plans Thousands of Job Cuts Amid AI Expansion

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Microsoft is preparing to lay off thousands of employees, particularly in its sales division, according to a Bloomberg News report published Wednesday. The move comes as the company accelerates investments in artificial intelligence (AI) and realigns its workforce to support the growing demands of the technology.

The layoffs are expected to be announced early next month, following the end of Microsoft’s fiscal year. While the exact number of job cuts has not been confirmed, sources suggest that the move will impact more than just sales roles. Microsoft declined to comment on the report.

This would mark the second significant round of layoffs in 2025, following cuts in May that affected around 6,000 employees.

The tech giant has committed a record $80 billion in capital expenditure this fiscal year, with most of that spending allocated to expanding data centers and AI infrastructure. These investments are designed to support Microsoft’s growing suite of AI-powered services, including its close partnership with OpenAI and integration of generative AI across its software platforms.

The shift mirrors trends across the industry. Amazon CEO Andy Jassy stated on Tuesday that generative AI and agent technologies would likely reduce corporate workforce needs over the coming years, underscoring how automation and AI are reshaping traditional business roles.

With a global workforce of 228,000 employees as of June 2024, Microsoft is balancing aggressive growth in AI with internal restructuring — a sign of how tech giants are repositioning for the next phase of innovation-driven competition.