The New York Stock Exchange was abuzz after the Democrats’ success in Tuesday’s midterm elections and a sharp decline in oil prices. Shares in health insurers and healthcare companies rose, but companies owned by President Donald Trump and Elon Musk plunged.
BusinessThe stock market has turned downwards after several AI-linked companies failed to meet expectations. Tech giants have invested trillions in a short time, and investors now want to know whether it is worth it. “The big cloud of concern is the enormous investments American companies are currently making in data centers and AI,” says Maria Landeborn, a savings economist at Danske Bank.
TechnologyOpenAI has raised less than half of the $30 billion it is seeking in its new investment round, sources told the Wall Street Journal. The tech giant is now reportedly lowering its target.
BusinessThe tech-heavy Nasdaq fell sharply in Friday trading, with several AI companies dropping by double digits. The broader stock market also fell heavily.
TechnologyTechnology giant Amazon reports lower-than-expected revenue for the third quarter.
BusinessThe much-talked-about film about Sacha Baron Cohen’s character Ali G will premiere on Prime Video this week, the film company says.
TV & filmE-commerce and cloud services company Amazon plans to hire more than 300,000 seasonal workers in the US during the holiday season, a 20 percent increase from the same period last year.
BusinessThe US online shopping and cloud services giant Amazon plans to invest more than 16 billion euros (approximately 180 billion SEK) in Germany next year, the company said in a press release.
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