Wall Street suffers worst day since June as AI spending fears deepen tech sell-off
Disappointing hyperscaler earnings reignited doubts about the payoff from massive AI capital spending, sending the Nasdaq to a third straight weekly loss.
Fortune · +14 outlets
OpenAI pares fundraising goal, now seeking up to $20 billion
The round remains open and figures could change, reflecting a more cautious funding environment for AI leaders.
CNBC · +4 outlets
Binance says 90% of $6.3 billion hack losses covered, plans to resume withdrawals
The largest crypto theft on record has raised fresh questions about exchange custody and customer fund protection.
CNBC · +14 outlets
Alphabet shares close 12.64% lower, worst week since 2011, dragging Nasdaq down
Alphabet's post-earnings slump was the sharpest single-stock drag on the index and marked its worst weekly performance in over a decade.
TOKENPOST · +2 outlets
S&P cuts Meta outlook to negative on cash flow and capex concerns
S&P Global Ratings flagged Meta's heavy capital expenditures and free cash flow pressure as AI spending accelerates.
CNBC · +13 outlets
Intel posts worst day since the 1970s, wiping about $12 billion off government stake
Investor anxiety over AI capex and Intel's outlook drove a record single-day decline for the chipmaker.
CNBC · +8 outlets
Exxon and Chevron beat forecasts as refining margins surge during wars
Middle East and Ukraine conflicts have tightened fuel supplies and lifted refining profitability, drawing political scrutiny.
Reuters · +10 outlets
Tech layoffs pile up as Bay Area and San Francisco companies cut more than 100 jobs
Continued headcount reductions across major tech employers reflect the sector's cost discipline amid AI-driven restructuring.
San Francisco Chronicle · +8 outlets
Anthropic's path to the Nasdaq gets bumpier as AI spending fears hit tech stocks
Hyperscaler projections that punished tech shares this week complicate the AI company's IPO prospects.
CNBC · +4 outlets
Qatari mediators held Tehran talks aimed at restarting direct US-Iran negotiations
The diplomacy aims to avert a resumption of American-led attacks on Iran, with regional escalation risk in focus.
CNBC · +14 outlets
Reliance posts $3.1 billion quarterly profit; Jio Platforms reports 14% Q2 growth in first post-IPO results
The results are the first since Jio Platforms' listing and underscore Reliance's telecom and retail scale.
TradingView · +4 outlets
Germany misses winter gas storage target, risking higher EU prices
The bloc's largest economy will rely more on spot purchases, potentially lifting costs for other member states.
Ft · +2 outlets
Bond investors sit out US midterms as vote and data loom
Fund managers are pausing as elections, jobs data and Fed signals shape the rate outlook.
Ft · +8 outlets
CPKC urges regulators to end UP-NS merger review over CEO's shipper remarks
A judge ordered public release of comments in which Union Pacific's CEO allegedly threatened to punish shippers if the merger fails.
Trains Magazine · +6 outlets
Wall Street strategists weigh Fed's next move as 'Fed put' returns
Diverging signals, including calls for further rate hikes, leave markets uncertain about the policy path.
Yahoo Finance · +14 outlets
Wall Street's AI build-out increasingly shaped by financiers
Banks and credit markets are gaining influence over how large-scale AI infrastructure gets funded.
WSJ · +13 outlets
US budget deficit crosses threshold not seen since WWII
Rising debt, inflation and inequality feature among charts worrying investors.
24/7 Wall St.
Russia forced to ship grain via Arctic as Black Sea fighting rages
Longer export routes from distant ports are raising costs for overseas agricultural buyers.
Ft · +1 outlets