Intuit is laying off around 3,000 employees globally, or roughly 17% of its workforce, as the software company restructures operations and intensifies its focus on artificial intelligence initiatives. The job cuts were disclosed in an internal memo sent by Chief Executive Sasan Goodarzi to employees on Wednesday and reviewed by Reuters. According to the memo,
Shares of CoreWeave (CRWV) fell in Tuesday premarket trading after Google and Blackstone unveiled a major artificial intelligence cloud infrastructure partnership that investors viewed as a potential competitive threat to the fast-growing neocloud sector. CoreWeave stock dropped 4.3% in early trading alongside shares of Nebius Group as markets assessed the implications of the new joint
The platinum market is heading for its fourth consecutive year of undersupply, according to the World Platinum Investment Council (WPIC). Commodity analyst Carsten Fritsch of Commerzbank AG said the shortfall is expected to reach 297,000 ounces in 2026, slightly higher than earlier forecasts. “This would mark the fourth consecutive year of a supply deficit in
US stocks moved lower on Tuesday as investors continued pulling back from semiconductor and technology stocks amid rising inflation concerns, elevated Treasury yields, and uncertainty surrounding the Middle East conflict. The S&P 500 fell 0.5%, while the Nasdaq Composite dropped 0.57%. The Dow Jones Industrial Average declined roughly 0.67%, or 332 points. The weakness followed
The European Parliament has approved new foreign direct investment (FDI) screening rules that were provisionally agreed in December with the Council of the European Union, the institution representing EU member states. The legislation still requires formal approval from the Council before it can enter into force 18 months later. Once implemented, EU countries will be
A federal jury’s emphatic rejection of Elon Musk’s claims against Sam Altman and OpenAI cleared a major legal obstacle for the ChatGPT maker’s ambitious plans to become a trillion-dollar public company, but not without exposing deep tensions at the heart of the artificial intelligence boom. The closely watched trial laid bare bitter power struggles inside
Plug Power, a company that was on the verge of bankruptcy, has staged a strong comeback this year and is beating the broader market. It has jumped by 51% this year and by over 330% in the last 12 months. This surge has brought its market cap to over $5.3 billion, even as the short
Income-focused investors are in a real dilemma as government bond yields surge amid the rising inflation rate in the United States. Do they invest in the blue-chip Schwab US Dividend Equity ETF (SCHD) or invest in the higher-yielding JPMorgan Premium Income ETF (JEPI). JEPI, SCHD, and 10-year government bonds Bond investors argue that yields are
Software stocks rallied sharply on Tuesday, extending a rebound in a sector that had come under intense pressure this year amid concerns that artificial-intelligence agents could threaten traditional enterprise software providers. In US, shares of enterprise software companies moved broadly higher, with ServiceNow (NOW) leading gains after a strong rally in the previous session. The
Ronin (RON) has surged sharply over the past 24 hours, climbing 35.8% to $0.1233 and outperforming a largely flat crypto market. The rally pushed the token to an intraday high of $0.1365 from a low of $0.08542. Ronin price chart | Source: Coingecko The move came alongside a massive increase in trading activity, with 24-hour