Business
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Microsoft president supports call for new agency to regulate AI
Microsoft Corp. President Brad Smith believes establishing a new federal agency to oversee the development of artificial intelligence is the “most sensible” course. Smith backed calls to regulate the fast-developing technology in response to a question following a speech in Washington, D.C., on Thursday, echoing comments from OpenAI Chief Executive Sam Altman before a Senate panel…
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Three years after George Floyd’s death, there’s been a lot of promises but ‘not much substance’ on racial equality, nonprofit CEO says
Three years after George Floyd was murdered by a Minneapolis police officer — a May 2020 killing captured in a shocking viral cellphone video that spurred racial-justice uprisings nationwide — there have been “a lot of pledges” for reform, but “not much substance,” said Gary Cunningham, the outgoing president and CEO of Prosperity Now, a…
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Nutanix stock pops after earnings as company gives upbeat outlook
Nutanix Inc. gave an upbeat outlook for its fiscal fourth quarter Wednesday, and its shares were surging in the aftermarket. The cloud-platform company reported a fiscal third-quarter net loss of $81.2 million, or 35 cents a share, compared with a loss of $112.0 million, or 50 cents a share, in the year-earlier period. On an…
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How much should the average person spend on an engagement ring and today’s 21-year-olds are ‘adulting’ later than people that age did in 1980
Hi, MarketWatchers. Don’t miss these top stories. Jeff Bezos reportedly spent upwards of $5 million on Lauren Sanchez’s engagement ring — but what should the average person spend? How much should you spend on an engagement ring? Here’s what to know when shopping for a ring — and how you can save some money without…
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McCarthy addresses debt-ceiling angst: ‘I would not, if I was in the markets, be afraid of anything’
House Speaker Kevin McCarthy on Wednesday made an effort to address concerns among investors that a divided Washington won’t be able to make a deal on a debt-ceiling increase and thereby avoid a market-shaking default. “We are working night and day. I would not, if I was in the markets, be afraid of anything in…
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Nvidia barrels toward rare $1 trillion valuation after putting a dollar figure on AI boost
Nvidia Corp. headed toward market-capitalization gains of nearly $200 billion in after-hours trading Wednesday, which could put the chip maker within sight of becoming only the seventh U.S. company to top a valuation of $1 trillion. Nvidia shares NVDA, -0.49% jumped 25% in the extended session Wednesday, after executives predicted that revenue would exceed the…
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Bill Ackman resurrects billionaire feud, saying Carl Icahn needs a friend
“‘Icahn’s favorite Wall Street saying: “If you want a friend, get a dog.” Over his storied career, Icahn has made many enemies. I don’t know that he has any real friends. He could use one here.’” — Bill Ackman, Pershing Square Capital Management That was billionaire hedge-fund manager Bill Ackman, founder and chief executive of…
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Nvidia stock soars toward all-time high as record revenue forecast backed by ‘killer app’ of AI
Nvidia Corp. executives predicted record revenue well beyond anything the company has experienced Wednesday, pushing shares toward all-time highs, as margins improve with AI-driven data-center sales. Nvidia NVDA, -0.49% guided for second-quarter revenue of $11 billion, plus or minus 2%; the chip maker has never before reported quarterly revenue higher than $8.29 billion, which it…
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$400 million in crypto was stolen in the year’s first quarter, a 70% decline from the same period in 2022, analysis shows
Less crypto is being stolen this year, thanks to industrywide implementation of anti-money-laundering standards, and increased efforts by law enforcement and regulators to go after bad actors, according to new research by TRM Labs, a blockchain intelligence company, published Tuesday. Around $400 million in cryptocurrencies was stolen across nearly 40 attacks in the first three…
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Natural-gas prices have dropped by nearly half this year, despite output risks and higher demand prospects
[]Risks to U.S. production and an expected spike in demand have failed to rally prices for natural gas, which have dropped by nearly half so far this year. []The natural-gas market is reaching a historically pivotal phase of the year, with the price swings typically occurring in the summer and winter months, said Tyler Richey,…