Meta Platforms is facing fresh regulatory pressure in Europe as the European Union prepares to escalate its investigation into whether Facebook and Instagram use design features that are addictive to children. The developments place Meta at the centre of two major stories at once. In Europe, the company is facing closer scrutiny over the impact
US stocks opened lower on Tuesday as a technology-led selloff accelerated, with semiconductor and artificial intelligence-related stocks coming under renewed pressure. The Dow Jones Industrial Average fell 326 points. The Nasdaq Composite dropped 2.2% while the S&P 500 was down 1.5%. The weakness followed Monday’s session, when the Nasdaq Composite fell 1.3%, weighed heavily by
SpaceX stock price has suffered a major crash a few days after it launched the biggest initial public offering (IPO) on record. SPCX tumbled to $154, down sharply from its all-time high of $225.80. As a result, Elon Musk’s net worth has tumbled by $300 billion, and he may soon lose his trillionaire status. Elon
AMZN kicked off its 12th annual Prime Day event on Tuesday, launching a four-day shopping extravaganza featuring millions of deals across more than 35 countries. For the e-commerce giant, Prime Day has become one of the most important events on the retail calendar, driving a surge in online spending and offering insights into consumer behaviour.
Qualcomm Inc. QCOM shares moved lower on Tuesday, falling about 6% in trading as a broader technology selloff weighed on sentiment, even as fresh reports pointed to an expansion of its artificial intelligence ambitions. The decline came despite Bloomberg reporting that Qualcomm is in advanced talks to acquire AI infrastructure software company Modular Inc. in
Memory chip stocks came under heavy pressure on Tuesday, extending a broad technology selloff on Wall Street. Investors grew increasingly uneasy about the enormous sums being poured into artificial intelligence infrastructure and the growing use of debt to finance that expansion. Shares of memory chipmakers, some of this year’s biggest market winners, suffered steep declines.
China’s low Earth orbit satellite company SpaceSail has launched a new fundraising round, according to a report by state media outlet Securities Times on Monday, as the Shanghai government-backed firm pushes ahead with its satellite deployment plans and overseas expansion. The report said the new financing round would result in a combined equity stake of
UK Prime Minister Keir Starmer said on Monday that he would step down as Labour leader and prime minister, ending months of political turmoil and setting in motion a leadership contest that is increasingly expected to deliver Andy Burnham to Downing Street. The announcement comes less than two years after Starmer led Labour to one
Getty Images has entered into a “display agreement” with OpenAI, marking a significant step toward integrating licensed visual content into artificial intelligence-driven search experiences. In a brief announcement on Sunday, Getty said its licensed image libraries will appear in “OpenAI search and discovery experiences within ChatGPT.” The agreement is expected to allow ChatGPT to use
Sandisk, Western Digital, and Seagate stocks have been in a strong rally this year and are the top gainers in the S&P 500 and Nasdaq 100 indices. SNDK jumped by 800% this year, while Western Digital, Micron, and Seagate have soared by 320%, 285%, and 280%, respectively. Sandisk, Western Digital, and Seagate face a major