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Factbox-Companies cutting jobs as investments shift toward AI
Feb 25 (Reuters) – Investors’ and economists’ concerns that artificial intelligence will upend established industries are deepening, as Goldman Sachs warned in February that accelerating AI adoption could push U.S. unemployment higher this year, with job losses already emerging in sectors most exposed to automation. Goldman economists estimated in February that the technology was[...]
US producer prices increase more than expected in January
U.S. producer prices increased 0.5% in January, driven by higher service margins and tariffs, signaling potential inflation rise in coming months.
OpenAI’s $110 billion funding round draws investment from Amazon, Nvidia, SoftBank
OpenAI secures $110 billion in funding from Amazon, Nvidia, and SoftBank, valuing the AI firm at $840 billion ahead of its planned IPO.
US stocks fall as Nvidia earnings temper AI sector enthusiasm
U.S. stocks declined after Nvidia's earnings failed to meet investor expectations, cooling enthusiasm for AI-driven tech shares despite strong results.
US weekly jobless claims rise slightly
US weekly jobless claims increased slightly to 212,000 for the week ending February 21, reflecting a stable labor market despite hiring hesitancy and AI-related layoffs.
Fed’s Miran: Four quarter-point cuts still warranted this year, no “all clear” for job market
Federal Reserve Governor Stephen Miran endorses four quarter-point rate cuts in 2024, citing ongoing labor market risks despite strong job growth and easing inflation.
DeepSeek withholds latest AI model from US chipmakers including Nvidia, sources say
DeepSeek has excluded U.S. chipmakers Nvidia and AMD from early access to its latest AI model, granting Chinese firms like Huawei a head start on optimization.
Ebay slashes 6% of workforce as e-commerce firm realigns operations
Ebay said on Thursday it is cutting about 800 jobs, or roughly 6% of its full‑time workforce, as the e‑commerce company moves to streamline operations and align staffing with its strategic priorities. “We are taking steps to reinvest across our business and align our structure with our strategic priorities, which will affect certain roles across […]
Wall Street extends tech-powered rally as AI worries abate; Nvidia reports
Wall Street's tech rally continued as Nvidia reported strong Q4 revenue, easing AI disruption concerns and boosting semiconductor stocks.
Nvidia forecasts first-quarter sales above estimates
Nvidia forecasts first-quarter revenue of $78 billion, surpassing estimates, driven by strong demand for AI processors amid Big Tech's heavy investments.
