The CEO of DBS Group is telling investors to prepare for significant market volatility ahead. She specifically highlighted concerns about the “Magnificent Seven” tech stocks and their trillions in market concentration. A 10-20% correction could be coming within the next 12-24 months.
Tesla CEO Elon Musk says the company will likely need to build a “gigantic” semiconductor fabrication plant to keep up with its AI and robotics ambitions. He revealed potential production capacity could reach 1 million wafer starts per month, rivaling industry leader TSMC.
Tesla shareholders have approved a compensation package for CEO Elon Musk that could potentially make him the world’s first trillionaire. The plan requires Tesla to reach a market value of $8.5 trillion and achieve other ambitious targets for Musk to receive the full payout.
US media giant Comcast is exploring a deal for ITV’s television operations. The move could see ITV combined with Sky to build a powerful UK streaming competitor. Multiple potential buyers are reportedly circling the British broadcaster.
In a stunning reversal, Apple is reportedly paying Google nearly $1 billion per year for a custom version of Gemini AI. This comes after Samsung’s Galaxy AI partnership with Google gave them a significant head start in mobile AI features.
SentinelOne’s CEO claims competitors are pushing “agent studios” that shift liability to customers rather than delivering turnkey solutions. He also warns about escalating geopolitical cyber threats and AI model manipulation. The company is positioning itself as the first truly agentic SOC provider.
Employers announced 153,074 job cuts in October, the worst October for layoffs since 2003. Tech stocks led market declines, with the Nasdaq falling nearly 2% as investors grew nervous about AI valuations.
According to internal documents reviewed by Reuters, Meta estimated that 10% of its 2024 sales came from scam and fraudulent advertisements. That translates to roughly $16 billion in revenue from promotions for illegal casinos, investment schemes, and banned medical products.
Senators Hawley and Warner introduced legislation requiring companies to report AI-related layoffs. October job cuts hit 153,074, the highest in over 20 years. Machine learning engineers are the fastest-growing role while creative jobs decline.
Meta reportedly projected $16 billion would come from scam and banned goods advertisements, according to internal documents. The company faces SEC investigations while Zuckerberg’s wealth ranking drops amid stock declines.
