Bill Gates has said he thinks artificial intelligence is the most revolutionary technology he’s seen in decades, on par with computers, cellphones and the internet. “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet and the mobile phone,” he wrote in a blog post on Tuesday. … Read more
Chief Executive Andy Jassy said in a statement that the company had recruited a significant number of employees in recent years, a step he defended as necessary given what was happening in Amazon’s business at the time. era. “Given the uncertain economy we reside in and the uncertainty that exists for the near future, we … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Meta Platforms, parent company of Facebook Inc. created a tool to predict the structure of hundreds of millions of proteins using artificial intelligence. Researchers say promises to deepen scientists’ understanding of biology, and perhaps accelerate the discovery of new drugs. Meta’s research arm, Meta AI, used the new AI-based computer program known as ESMFold to … Read more
WASHINGTON — The Biden administration is demanding that Chinese owners of TikTok sell their shares in the video-sharing app or face a possible U.S. ban on the app, according to people familiar with the matter. The move represents a major shift in policy by the administration, which has been criticized by some Republicans who say … Read more
UberTechnologies Inc., UBER -0.93% Lyft Inc. LYFT -2.87% and other companies won a victory with a California court ruling that preserves their independent contractor model in the state and could bolster their efforts to maintain that model elsewhere. A state appeals court said workers should continue to be treated as independent contractors under a California … Read more
Investors feared the fastest interest rate increases in decades meant something in the economy could snap. Last week it was. Now investors are wondering: what else could crack? Silicon Valley Bank was shut down on Friday after being hit by a run on its deposits, the second-largest bank failure in US history. The fallout rocked … Read more
Metaplatforms related to Facebook Inc. META -1.20% plans to announce additional layoffs in several rounds over the next few months that, in total, would be about the same magnitude as the 13% reduction in its workforce last year, according to people familiar with the matter. The new cuts, the first wave of which is expected … Read more
WASHINGTON—The Federal Trade Commission has asked Twitter Inc. to turn over internal communications related to owner Elon Musk, along with detailed information about the layoffs—citing concerns that the staff cuts could jeopardize the company’s ability company to protect users, documents viewed by the Wall Street Journal show. In 12 letters sent to Twitter and its … Read more
One of the best-performing stocks of recent years isn’t a tech giant or a high-flying startup. Instead, it’s a family-owned department store chain that doesn’t have a large following on Wall Street. Shares in Dillard’s Inc. DDS 1.48% have climbed more than 1,500% since April 2020. The company’s market value is similar to that of … Read more
