Google’s parent company Alphabet lost over $500 billion in market value today. So is the AI bubble about to pop? NBC News’ Allie Canal reports on big tech’s spending and how AI is impacting the job market.
Category Archives: business
Binance targeted in $6.3 billion crypto heist, the largest ever
The company has suspended all deposits and withdrawals while it works with law enforcement to secure its infrastructure and locate stolen funds.
Polymarket briefly halts trading after third-party compromise and reports of stolen user funds
Predictions markets platform Polymarket was forced to halt trading on its international platform for an hour after a vendor was compromised.
Affording America: The rising costs of family farming
Javier Zamora achieved his dream of starting his own family farm and watching his customer base grow, but as the costs of labor, chemicals, and diesel have risen, his profit margins have continued to fall.
Alphabet shares record their worst day ever, shedding $500 billion in value
Shares of Google parent company Alphabet sank 12.6%, the company’s worst ever single-day drop.
DoorDash to acquire Instacart for $17 billion, creating delivery giant
Delivery giant DoorDash is buying to-your-door grocery service Instacart for $17 billion, the company announced Thursday.
Federal Reserve keeps interest rates unchanged in final vote before midterms
The Federal Reserve has voted to keep interest rates unchanged despite rising inflation. NBC News’ Brian Chueng reports on the central bank’s final rate decision before the midterm elections.
Fed plans to eliminate some rate-setting meetings, chairman says
The Federal Reserve plans to eliminate some meetings devoted to setting interest rates in the next couple of years, Chairman Kevin Warsh said Wednesday.
Federal Reserve leaves interest rates unchanged despite rising inflation
The soaring costs of gas, diesel and crude oil are a major driver of higher prices across the U.S. economy.
Hasan Piker files $72.5 million defamation suit against Scott Jennings
The progressive pundit claims the conservative commentator deliberately distorted his remarks to falsely portray him as a supporter of lynching Black people.