JPMorgan Raises AI Infrastructure Spending Forecast to $5.5 Trillion
Tarek Hamid and his team of credit strategists at JPMorgan have been revising one forecast upward for seven months. On Wednesday, they did it again, lifting their estimate of what…
Microsoft Weighs a Spin-Off for Xbox as Gaming Revenue Slides
The question inside Microsoft used to be how to fix Xbox. Now it is whether to keep it. The company has considered spinning off its gaming business into a standalone…
The World’s 500 Richest Gained $336 Billion in a Single Day
The number is so large it reads like a typo: $336 billion, added to the combined net worth of the world’s 500 richest people in a single day. It happened…
SoftBank and OpenAI Take AI Security to Japanese Companies
Masayoshi Son has spent years telling investors that AI will change everything. On Tuesday his company began selling that argument to Japanese corporations, one vulnerability at a time. SoftBank Group,…
DeepSeek Closes Record $7 Billion Round With Unusual Terms
The announcement had been expected for months; the terms had not. DeepSeek said Tuesday it has completed its first external funding round of more than $7 billion, roughly 50 billion…
SpaceX to Buy AI Coding Startup Cursor for $60 Billion
The deal came together in weeks, and it moved the way SpaceX does: fast, in-house, and with the company’s own stock as the currency. SpaceX said Tuesday it agreed to…
AI Now Accounts for a Record Share of U.S. Job Cuts, Data Show
The tally kept by Challenger, Gray & Christmas now has a category that its founder could not have imagined when the firm started tracking layoffs in 1993: artificial intelligence. Through…
Morgan Stanley Says Wall Street Is Missing Meta’s AI Moat
Brian Nowak has covered Meta Platforms since it was still called Facebook. On June 6, the Morgan Stanley analyst went back to his clients with a message he has delivered…
BofA’s Hartnett Tells Clients to Keep Trimming Stocks Until July
Michael Hartnett has been Wall Street’s most prominent bear for so long that some clients stopped reading his notes. In his latest, the Bank of America strategist told them to…
Musk Predicts $1 Trillion in Annual Revenue for SpaceX; Analysts Disagree
On Sunday night, Elon Musk posted a number to X that made even his admirers pause: $1 trillion. By 2030, he wrote, SpaceX could reach roughly $1 trillion in annual…
