The Chinese tech giant is spending tens of billions of dollars on AI despite concerns that companies are spending too much on the tech with limited results.
Fintech startup Upgrade valued at $7.3 billion in new funding round
Upgrade raised $165 million in a new funding round that valued the fintech startup at $7.3 billion.
Swiss government slashes growth outlook as Trump tariffs put ‘heavy burden’ on economy
The risks are mounting for the Swiss economy as the country’s goods face one of the Trump administration’s most punitive tariff rates.
Stocks making the biggest moves after hours: J.B. Hunt, United Airlines, Zion and more
These are some of the stocks posting the largest moves in after-hours trading.
CEOs of Wells Fargo and Pfizer caution the U.S. could lose its edge to China without innovation
Speaking at CNBC’s Invest in America Forum, the CEOs said the U.S. still leads in many sectors, but inconsistent policy and underinvestment is ceding ground.
Big banks like JPMorgan Chase and Goldman Sachs are already using AI to hire fewer people
Even during a blockbuster year for Wall Street as trading and investment banking spins off billions of dollars in revenue, the banks are hiring fewer people.
Tariffs are pushing prices higher and consumers are feeling the hit, Fed’s Beige Book shows
Companies are caught between absorbing the costs or passing them onto customers, according to a Federal Reserve report.
Tech billionaires’ ramp up bets on AI, biotech
CNBC’s Robert Frank joins ‘Money Movers’ with the latest investment trends in tech.
Stocks making the biggest moves midday: Bank of America, Morgan Stanley, Bunge, Progressive and more
These are some of the stocks posting the largest midday moves.
Fed’s Miran sees China trade tensions as a further reason for quick interest rate cuts
Miran said the latest impasse in trade talks between the U.S. and China poses new dangers to the economic outlook.