Technology
Big Tech’s AI spending spree: Smart long-term bet or short-term risk?
In this Club Check-in, CNBC’s Paulina Likos and Zev Fima break down big tech’s massive artificial intelligence spending spree — debating whether these billion-dollar bets will drive long-term cost savings or weigh on near-term returns. Mega-cap tech companies are shelling out billions of dollars to build out AI infrastructure. The big question we’re asking is […]
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Affirm CEO says furloughed federal employees are starting to lose interest in shopping
Affirm CEO Max Levchin said Friday that while the buy now, pay later firm isn’t seeing credit stress among federally employed borrowers due to the government shutdown, there are signs of a change in shopping habits. “We are seeing a very subtle loss of interest in shopping just for that group, and a couple of […]
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Block sinks 10% after weak third quarter results miss Wall Street estimates
Block shares fell 10% Friday after weak third-quarter earnings fell short of Wall Street expectations and showed slowing profit growth for the company’s Square service. Here is how the company did compared with LSEG estimates: Earnings per share: 54 cents adjusted vs. 67 cents expected Revenue: $6.11 billion vs. $6.31 billion expected Revenue for the quarter was […]
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Archer tanks 12% after air taxi maker sells additional 85 million shares, buys LA-area airport
Courtesy: Archer Aviation Archer Aviation‘s stock plummeted 12% after a share sale overshadowed a narrower-than-expected third-quarter loss. The company posted a net loss $129.9 million, narrower than the FactSet estimate of a $178.6 million loss. However, Archer disclosed a $650 million stock offering for 81.25 million shares to support its $126 million acquisition of Hawthorne […]
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Trump budget cuts, agency gutting, leave Americans and economy at greater risk of being hacked, experts warn
Almost a year into the second Trump administration, public sector leaders and cybersecurity experts say budget cuts and gutting of federal agencies are weakening critical lines of government communication to help companies prepare and respond to cyberattacks, even as AI threats are rising. The most recent assessment of cybersecurity, based on the goals set forward […]
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Google’s decade-long bet on custom chips is turning into company’s secret weapon in AI race
Sopa Images | Lightrocket | Getty Images Nvidia has established itself as the undisputed leader in artificial intelligence chips, selling large quantities of silicon to most of the world’s biggest tech companies en route to a $4.5 trillion market cap. One of Nvidia’s key clients is Google, which has been loading up on the chipmaker’s […]
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AI valuation fears grip global investors as tech bubble concerns grow
This week’s equity market wobble, which saw a retreat in U.S. AI-related stocks amid ongoing concerns over stretched valuations, has thrust contagion concerns into the spotlight for European investors. Goldman Sachs CEO David Solomon warned this week of a “likely” 10-20% drawdown in equity markets at some point within the next two years, while the […]
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CNBC Daily Open: It’s a bad time to be a tech investor — or employee
An Amazon Web Services Inc. office in Herndon, Virginia, U.S., on Thursday, Aug. 29, 2024. Bloomberg | Bloomberg | Getty Images October’s job losses in the U.S. were nearly twice as high as a month earlier — the steepest for any October since 2003, data from outplacement firm Challenger, Gray & Christmas showed. The technology […]
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Southeast Asia’s largest bank CEO warns investors: ‘Buckle up, we’re in for a volatile ride’
Tan Su Shan is the CEO and director of DBS Group. Bloomberg | Bloomberg | Getty Images With valuations in the U.S. stock market becoming increasingly stretched, the chief executive of Southeast Asia’s largest bank is warning investors to expect turbulence ahead. “We’ve seen a lot of volatility in the markets. It could be equities, […]
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Elon Musk says Tesla needs to build ‘gigantic chip fab’ to meet AI and robotics needs
Tesla CEO Elon Musk attends the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | Reuters Tesla CEO Elon Musk says the company will likely need to build a “gigantic” semiconductor fabrication plant to keep up with its artificial intelligence and robotics ambitions. “One of the things I’m trying to […]
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