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Meta and AMD announce 6-gigawatt GPU deal as part of AI build-out, AMD stock jumps
In a major move to fuel its artificial intelligence expansion, a leading social media company has entered into a multiyear agreement with a prominent chipmaker to purchase AI graphics processing units (GPUs) equivalent to a massive 6 gigawatts of power. The deal, announced on a Tuesday, sent the chipmaker’s stock surging as much as 10% […]
Fed Governor Lisa Cook Says AI Could Leave Fed With Hard Choice: Fight Inflation or Boost Employment
A Federal Reserve governor suggested that the rise of artificial intelligence may soon push the central bank into a tough spot, forcing it to choose between fighting inflation and boosting employment. The official noted that if AI significantly increases productivity, the economy could grow strongly even as changes in the labor market lead to higher […]
Tesla Must Face Lawsuit Alleging Anti-American Bias in Hiring, US Judge Rules
A U.S. judge has refused to dismiss a lawsuit accusing Tesla of discriminating against American citizens in its hiring practices. The suit alleges the electric carmaker prefers to hire foreign workers on H-1B visas to save on costs. However, the judge expressed skepticism that the plaintiff, a software engineer, would ultimately win the case. In […]
US Software Stocks Climb as Anthropic Announcement Sparks Relief Rally
Shares of U.S. software companies climbed on Tuesday, leading a rebound in a sector that had been hammered by fears about the disruptive impact of artificial intelligence. The rally was sparked by an announcement from an AI startup regarding new partnerships. The startup said it was developing new tools, so-called “plug-ins,” with its partners designed […]
Tech News Today: Countdown to Nvidia Earnings Begins as AI Fears Weigh on Stocks
The world’s largest company by market capitalization, Nvidia, is set to report its fourth-quarter results on Wednesday afternoon. This highly anticipated release has the power to either renew faith in the artificial intelligence trade or add fuel to growing concerns about how massive bets on AI will ultimately pay off. Nvidia’s quarterly results have evolved […]
Trump prepares to make new case for tariffs at State of the Union. Even some Republicans are skeptical.
As the President prepares to address the nation, he brings a renewed focus on tariffs to the forefront. This move comes at a time when skepticism is growing, even among members of his own party. The President has stated he does not require congressional approval for these actions, yet he faces a political landscape where […]
Jamie Dimon warns markets resemble pre-financial crisis era: ‘I see a couple of people doing some dumb things’
A prominent Wall Street CEO is sounding the alarm, suggesting that today’s financial landscape bears a striking resemblance to the years just before the 2008 global financial crisis. Speaking at his firm’s annual investor day, the executive pointed to a market environment where high asset prices and easy money are creating a false sense of […]
Stock market today: Dow, S&P 500, Nasdaq climb as software stocks lead AI relief rally
US stocks climbed higher on Tuesday, staging a recovery from steep losses as software stocks led the charge. The rally was fueled by renewed optimism around artificial intelligence, helping Wall Street shake off recent fears that rapid AI advances could disrupt large parts of the economy. The Dow Jones Industrial Average led the gains, rising […]