The Department of Homeland Security announced a dramatic fee increase for H-1B visas, while the State Department simultaneously moved to revoke visas for up to 200,000 asylum seekers in what would be the largest mass visa revocation in U.S. history.
The $103,000 fee represents a significant cost increase for employers sponsoring foreign workers in specialty occupations—a program heavily used by tech companies seeking software engineers and other skilled professionals.
The dual announcements, made within hours of each other on Monday, signal an aggressive expansion of Trump's immigration enforcement agenda beyond deportations. The asylum visa revocations would represent an unprecedented scale of action and surpass previous mass revocation efforts.
Tech companies have long relied on the H-1B program to fill talent gaps, particularly in software development and engineering roles. The fee increase is expected to substantially reduce visa petitions and increase hiring costs for tech firms.
These actions align with Trump's broader immigration restrictions implemented throughout his second term, combining employment-based visa restrictions with asylum policy changes to reshape the composition of immigration to the United States.
Zoom reported second-quarter revenue of $1.28 billion, exceeding analyst estimates of $1.27 billion with 4.9% year-over-year growth. However, the company's Q3 earnings forecast fell short of expectations.
Scotland's government is moving toward a moratorium on new datacentre developments after unprecedented public opposition. A proposed megaproject in Auchtertool, Fife—set to be the world's second-largest datacentre—has generated 1,600 objections.
Zoom Communications delivered a quarterly sales forecast that matched analyst expectations, failing to excite investors who anticipated stronger growth from its newly expanded product lineup.
U.S. clean energy capacity is set to reach record growth despite efforts to restrict the sector. S&P Global Energy projects a 45GW capacity increase this year.