Business

Markets & Earnings · 8 stories · page 1 of 1

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Tech market sell-off deepens amid fears over US inflation and AI debt

An accelerating sell-off of AI-linked shares has hit global markets, as fears over rising inflation and future interest rate hikes spooked traders already wary of the heavily indebted sector. South Korea’s benchmark Kospi 200 index, which is heavily skewed towards the companies that make memory chips, fell more than 8% overnight to a six-month closing low, triggering circuit breakers that brought trading to a halt at various points. Some of those semiconductor stocks, such as SK Hynix and Samsung Electronics, pl…

The Guardian

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OpenAI projected to bring in $20bn less in revenue than expected

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Chip stocks slide after Broadcom boss likens AI investing to ‘casino’

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Synopsys Stock Surges On AI-Driven Transformation Of Engineering

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Cohere, Aleph Alpha combine to target enterprise AI market

The combined business will operate as Cohere, with dual headquarters in Toronto and Berlin, while Aleph Alpha's Heidelberg office will focus on research. Aleph Alpha co-chief Ilhan Scheer will become chief operating officer of Cohere.

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AI-linked stocks slide after tech bosses call for slowdown in ‘reckless’ development

AI-linked stocks tumbled on Monday after the bosses of Anthropic, OpenAI and SpaceX called for a slowdown in AI “reckless” development, citing fears the technology could soon run out of control. Shares in the semiconductor designer Nvidia – the world’s most valuable company – were down 3.3% by market closing in New York City, while Advanced Micro Devices (AMD) slid 4% and Micron Technology and Sandisk shares slumped by 5%. The tech-heavy Nasdaq index fund was down 0.5% by the end of the day. The sell-off came af…

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Musk’s SpaceX courts retail investors as it aims for record-breaking stock market flotation

SpaceX will kick off the marketing for its highly anticipated stock exchange debut by hosting an event in June for 1,500 retail investors, as executives set out to convince buyers that the aerospace to artificial intelligence group should be valued at $2tn. In an unusual move, the company has earmarked a large portion of its shares – potentially up to 30% – for non-professional, non-institutional investors, banking on the popularity of its chief executive, Elon Musk, to help it raise $75bn (about £56bn) in what…

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After SpaceX’s huge IPO, Americans’ financial future will be bound to AI

Americans are growing worried about what artificial intelligence portends for their futures. Eight in 10 Americans report concern over AI, compared with a third who report being excited, according to a recent Quinnipiac poll. More than half think it will do more harm than good in their daily lives. Seven out of 10 think it will reduce the number of available jobs. Skeptical though they may be, they are about to get more AI rammed down their throats and stuck into their pension plans and their investment portfoli…