J1 explicitly cited generative AI as the reason for cancelling new grad roles within North America. Whether they are telling the truth is anyone's guess.
J2 didn't cite it as a reason, but we no longer bother to run a new grad program or internship program.
The new J1 has a blanket rule that everyone needs at least 3 years of experience to work there.
Personally, in an era of ChatGPT, a new grad is a burden compared to just doing the work myself with AI. I don't want to work with a junior developer again as they know too little and need too much of my time.