[Jack Dorsey's Block Raises Performance Expectations After Implementing AI-Related Layoffs] According to Golden Finance, on May 8, Jack Dorsey's payment company Block, Inc. provided a more optimistic outlook on profitability and growth prospects on Thursday, following a significant round of layoffs related to artificial intelligence. Company executives stated that although the layoffs were painful, they were necessary to improve performance. The payment company, which owns Square and Cash App, expects annual gross profit to reach $12.3 billion, higher than its previous forecast and above analysts' average estimate of $12.1 billion.