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

Ubisoft's share price has plummeted as the company announces internal restructuring to cut costs by 500 million Euros, leading to game cancellations and layoffs. The market cap fell below 1 billion Euros for the first time since 2012, with trading briefly suspended. The company plans to save 200 million Euros in the next two years and focus on Open World Adventures and AI technology. The new structure will divide Ubisoft into five creative houses, with Tencent investing in marquee franchises like Assassin's Creed. Despite the turmoil, Beyond Good & Evil 2 survives, while some studios are shut down, and remote work is abolished.