How Dell’s AI Boom Is Fueling A Wall Street Rally
According to the report, the S&P 500 rose 0.2% early in trading, while the Dow Jones Industrial Average gained 82 points and the Nasdaq also moved higher.
Business
What IBM’s $10 Billion Quantum Computing Investment Means
The investment will support research, manufacturing, partnerships, acquisitions and technology development
What Pushed Micron Past The $1 Trillion Market Cap Mark
According to the firm, long-term agreements and stronger pricing power tied to AI demand could continue lifting the company’s valuation
BP Fires Chairman Albert Manifold Over Conduct Concerns
The oil giant did not disclose specific allegations but said the board unanimously agreed to dismiss Manifold
OpenAI Chief Sam Altman Says AI Impact On White-Collar Jobs Overestimated
Altman admitted he had previously overestimated how quickly AI would eliminate entry-level white-collar jobs after the launch of ChatGPT in 2022
What Higher Bond Yields Mean For Stocks, Mortgages And Inflation
U.S. bond yields have climbed to their highest levels in a year as investors brace for prolonged inflation linked to the Iran conflict and soaring oil prices
Seattle’s Socialist Mayor Now Panicking Over Businesses Leaving
“I think the claims that millionaires are going to leave our state are, like, super overblown. And if—the ones that leave, like, bye,” Wilson said to applause at Seattle University.
Inflation Fears Push Consumer Mood To Historic Low
The consumer sentiment index dropped to 44.2, marking the third straight monthly decline and falling below the previous record low set in April
What The Latest Unemployment Data Says About The U.S. Economy
According to the U.S. Labor Department, new jobless claims fell by 3,000 to 209,000 for the week ending May 16, below analyst expectations
Auto Giant Stellantis Unveils Major Five-Year Recovery Plan
According to the company, 36 billion euros will be invested into its automotive brands, with North America receiving roughly 60% of the funding
Walmart Warns High Gas Prices Are Hurting Consumers
The retailer forecast annual adjusted earnings between $2.75 and $2.85 per share, below Wall Street expectations, according to LSEG data cited in the report
What SpaceX’s IPO Could Mean For Elon Musk’s Fortune
Reports suggest SpaceX may seek as much as $75 billion, which would surpass Saudi Aramco’s record-setting IPO in 2019
Why James Murdoch Bought New York Magazine And Vox Podcasts
Several Vox-owned brands, including The Verge, Eater, Popsugar, SB Nation and The Dodo, were excluded from the agreement, raising questions about possible future buyers
Why Jeff Bezos Says An AI Bubble Is Nothing To Fear
Bezos acknowledged that the current excitement around AI means nearly every idea is receiving funding, including weak or unrealistic projects