Homechevron_rightArchiveschevron_rightBusiness and Economy

Archives

Explore Stories by Date

Yesterday

Federal Reserve Elevates AI to Core Economic Priority as Chair Warsh Signals Historic Shift

Federal Reserve Chair Kevin Warsh declared AI a "hinge point in history" at Jackson Hole, marking a dramatic shift in how the central bank views artificial intelligence. The Fed now treats AI as a potential factor of production alongside labor and capital, tracking a $100 billion token market and debating whether the technology can deliver sustained productivity gains without triggering inflation.

2 Sources

OpenAI Cuts Off Cursor AI Models After $60 Billion SpaceX Acquisition Amid Musk-Altman Feud

OpenAI announced it will terminate model access to Cursor by November 12, 2026, following SpaceX's $60 billion acquisition of the AI coding tool. The company cited concerns that Elon Musk's companies won't comply with terms of service based on past contractual disputes. Anthropic quickly stepped in, pledging increased compute support for its Claude models in Cursor.

12 Sources

JPMorgan Links Rising Bond Yields to AI Productivity Boom as Debt Issuance Doubles to $220 Billion

JPMorgan Private Bank suggests rising long-term bond yields reflect investor expectations of an AI-driven productivity boom rather than just inflation concerns. AI-related debt issuance has doubled to over $220 billion this year as hyperscalers ramp up infrastructure spending, potentially crowding out Treasury demand.

2 Sources

28 Aug 2026

Elastic Stock Jumps 19% After Strong Q1 Earnings Beat, AI Adoption Accelerates to 37% of Top Customers

Elastic N.V. shares surged over 19% in extended trading after the enterprise search software company delivered fiscal Q1 2027 results that crushed Wall Street expectations. Revenue hit $478 million, up 15% year-over-year, while adjusted EPS of 70 cents beat estimates by 12 cents. The company raised full-year guidance and reported AI adoption among its largest customers jumped to 37% from 21% a year earlier.

4 Sources

Marvell shares slide 8% as timing concerns over $120 billion Google AI deal eclipse strong earnings

Marvell Technology shares dropped 8% to $221.6 despite beating earnings estimates and raising revenue forecasts. Investor concerns centered on when the company's newly announced custom AI chip deal with Google—potentially worth up to $120 billion through fiscal 2033—would begin contributing meaningfully to revenue. CEO Matt Murphy clarified the deal's significant impact won't materialize until fiscal 2029.

9 Sources

IREN Targets $4 Billion ARR Despite Q4 Miss as AI Cloud Business Accelerates

IREN stock fell over 8% after reporting fiscal Q4 revenue of $137.2 million and a wider-than-expected loss. Despite the miss, the data center firm signed new multi-year AI contracts with frontier labs and secured $2.8 billion in GPU financing as it accelerates its strategic pivot from Bitcoin mining to AI cloud services.

10 Sources

OpenAI Rolls Out ChatGPT Ads in India to Monetize 100 Million Users Ahead of 2027 IPO

OpenAI has launched ads on ChatGPT for free users and those on low-priced subscription plans in India, one of its largest markets with over 100 million weekly active users. The advertising rollout, now live in 39 countries, aims to boost monetization ahead of the company's planned 2027 IPO while maintaining answer independence and user privacy.

2 Sources

Nvidia Pauses Revenue-Sharing Deals With AI Cloud Companies Over Antitrust Concerns

Nvidia has paused transactions under its AI Compute Partnership initiative less than two months after launch. The financing initiative for AI cloud firms faced internal antitrust concerns and partner pushback over restrictions on chip leasing. The company insists the revenue-sharing program continues to evolve.

7 Sources

SentinelOne Stock Falls Despite Strong Q2 as Soft Earnings Guidance Overshadows Revenue Beat

SentinelOne reported Q2 revenue of $292 million, up 21% year-over-year, and beat analyst estimates with eight cents per share in adjusted earnings. But the cybersecurity firm's shares dropped nearly 4% in after-hours trading after it lowered full-year profit guidance to 30-32 cents per share, down from the prior 32-38 cents range and below analyst expectations of 35 cents.

2 Sources

Workday's AI Agents Drive Over 25% of New Contracts Despite Growth Concerns

Workday delivered better-than-expected Q2 results with AI products driving over 25% of new annual contract value and 5,500 customers now using AI agents. However, subscription revenue guidance disappointed investors, signaling potential growth deceleration despite strong profitability gains and a completed $5 billion share buyback program.

9 Sources

27 Aug 2026

SK Hynix Breaks Ground on $4 Billion HBM Plant in Indiana, Targeting 2029 AI Chip Production

South Korean chipmaker SK Hynix held a groundbreaking ceremony for its $4 billion high-bandwidth memory facility in West Lafayette, Indiana. The plant will package next-generation HBM chips for AI applications, with cleanroom operations starting in late 2028 and volume production of HBM4E beginning in Q3 2029.

9 Sources

86% of Indian Employers Now Use AI in Recruitment as Campus Hiring Shifts to Skills: Deloitte

Deloitte India's Campus Workforce Trends 2026 report reveals that 86% of organizations are using AI or Agentic AI to transform recruitment processes. Campus hiring budgets have increased by 19% as employers focus on skills-first recruitment, with AI and data roles commanding 20-25% compensation premiums.

2 Sources

Nvidia's Q2 2027 Earnings Ignore Gaming Entirely as AI Revenue Soars to $89 Billion

Nvidia's latest earnings report made no mention of gaming, GeForce RTX, or even DLSS as the company's data center revenue hit $89 billion—representing 93% of total revenue. The gaming segment has been absorbed into edge computing, signaling a dramatic shift from gaming to AI that leaves the future of consumer GPUs uncertain.

3 Sources

Kioxia and Sandisk Announce $31.4 Billion Investment to Scale AI Chip Production in Japan

Kioxia and Sandisk are investing over $31.4 billion through 2032 to expand flash memory chip production in Japan. The partnership will build a new facility in Kitakami to produce high-density 3D flash memory chips critical for AI workloads and data centers, addressing global semiconductor supply constraints.

3 Sources

Synopsys Raises Annual Forecasts as AI Complexity Drives Chip Design Software Demand

Synopsys reported strong third-quarter results with 42% year-over-year revenue growth to $2.48 billion, beating analyst estimates. The company raised its fiscal year 2026 guidance as AI-driven chip design complexity fuels demand for its Electronic Design Automation tools and autonomous engineering workflows. Customers are already reporting 5x-6x productivity gains from agentic AI implementations.

6 Sources

Get all updates into your inbox 💌, Stay Up-to-date for Free 🥳

Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Follow topics that matter to you and stay ahead.

Explore

News Categories

Technology Business Policy Startups Health Science Entertainment

Terms Privacy Content Contact Us