Trump inks $2.2 trillion tech and chip deals with Gulf states, boosting their AI ambitions in exchange for massive investments, positioning Saudi Arabia, UAE, and Qatar as emerging AI superpowers and key U.S. tech allies.
Klarna, a fintech company, has slashed its workforce by a staggering 40% due to accelerated adoption of artificial intelligence and a hiring freeze, as revealed by CEO Sebastian Siemiatkowski, highlighting the disruptive impact of AI on the job market.
Abu Dhabi's sovereign wealth fund Mubadala made a $10 billion bet on sports empire TWG Global, gaining stakes in top franchises like the LA Dodgers, LA Lakers, and Chelsea FC through TWG's $15 billion equity raise, marking a major investment in the global sports industry.
Anthropic's AI model Claude now boasts web search capabilities, enabling it to access real-time data and specialized knowledge from the internet, allowing developers to create innovative applications that incorporate up-to-date information for use cases like financial analysis and legal research.
The US economy contracted in Q1 due to surging imports, but robust consumer spending and business investment offset the decline, while the Fed held interest rates steady amid elevated inflation and tariff uncertainties, signaling a cautious approach as it assesses the trade war's impact.
Researchers unveiled a groundbreaking AI model, LinOSS, inspired by brain oscillations, that excels at long sequence predictions by leveraging principles of forced harmonic oscillators, outperforming existing state-of-the-art models and showing promise for applications like climate science and financial forecasting.
While major tech giants like Apple and Amazon face headwinds from tariffs and waning consumer sentiment, advertising-focused tech businesses remain resilient amid trade wars and economic uncertainty, bucking the downward trend impacting consumer-facing industries.
Mark Zuckerberg unveils plans for a paid premium tier of Meta's AI app, offering enhanced features like increased compute power and functionality for a fee, while Meta invests up to $72 billion in AI and considers incorporating ads or product recommendations.
Amidst ongoing trade tensions, the U.S. Commerce Secretary revealed a tentative trade deal with an unspecified nation, boosting stock markets as investors await final approval and details from the mystery partner.
As credit card debt soars, lower-income earners tighten their belts on spending while wealthy consumers splurge on luxuries like dining and travel, reflecting a widening economic divide.