Artificial intelligence has propelled the stock market to all-time highs, but Goldman Sachs (NYSE:GS) recently warned that once AI spending slows down, the stock market can tank by 20%. A research note from Goldman Sachs Analyst Ryan Hammond cited the danger of hyperscalers inevitably cutting back on AI expenditures, according to Fortune. “A reversion of…
By Bo Erickson WASHINGTON (Reuters) -President Donald Trump has moved to unilaterally cancel $4.9 billion in federal funding authorized by Congress, escalating the fight over who controls the nation’s spending. In a letter posted online late Thursday, Trump told House of Representatives Speaker Mike Johnson that he plans to withhold funding for 15 international programs,…
Big Tech’s massive artificial intelligence investments continued to fuel Nvidia’s (NVDA) rapidly growing data center business this quarter, but Wall Street is flagging the risk of a slowdown and what that means for the AI chipmaker. Nvidia said in its second quarter filing to the Securities and Exchange Commission that large-scale cloud service providers made…
As the cash-strapped University of Technology Sydney (UTS) prepares to sack 10 per cent of its staff, five senior executives have spent more than $140,000 on flights, accommodation and food during a trip to the USA in May, leaked documents have revealed. The documents show three of the executives flew business class, with flight costs,…
Microsoft (NASDAQ:MSFT) extends its generative AI investment lead as CIOs plan 6.3% higher AI tool spending. Morgan Stanley’s second quarter CIO survey showed IT budgets and software spending set to grow 3.6% year over year through 2025, down slightly from Q1’s 3.7% pace. Analysts led by Keith Weiss said Microsoft commands the steepest forward growth…
Gen Z and Millennials are in agreement: their obsession with Pokémon may never let up. Despite the Japanese franchise nearing its 30-year anniversary, young men in particular continue to be on a lifelong mission to “catch ‘em all”—and are spending hundreds, sometimes even millions of dollars, collecting trading cards. Part of the “boy math” is…
Here we go again. This week, the Senate unveiled, honed and passed its version of the “Big Beautiful Bill,” and it’s a fiscal monstrosity. What was already an oversized mess in the House has been supersized into a $4-trillion ode to unseriousness. This isn’t tax reform. It’s a bipartisan piñata stuffed with pork, gimmicks and…
Elon Musk made several last-ditch arguments on X, formerly Twitter, ahead of Saturday’s planned vote in the Senate that will look to advance President Donald Trump‘s “Big Beautiful” spending bill in a key vote. Why It Matters Musk, who had spent months as a close Trump ally during his time leading the Department of Government…
MOSCOW (Reuters) -NATO’s decision to increase defence spending will not significantly affect Russia’s security, Foreign Minister Sergei Lavrov said on Thursday. NATO allies on Wednesday agreed to raise their collective spending goal to 5% of gross domestic product over the next decade, citing what they called the long-term threat posed by Russia and the need…
The Co-op will stop sourcing carrots from Israel and a number of other products from other “countries of concern” such as Russia. The supermarket chain said it would stop sourcing produce, where possible, from countries where there are “internationally recognised community-wide human rights abuses and violations of international law”. The 17 countries on its list…