A cooling tower is seen at the nuclear-powered Vogtle Electric Generating Plant in Waynesboro, Georgia, U.S. August 13, 2024. Megan Varner | Reuters The Energy Department announced Tuesday that it will provide $17.5 billion in loans to speed the deployment of 10 big nuclear reactors across the U.S. Energy Secretary Chris Wright said the loans…
The logo of the software and hardware manufacturer Oracle can be seen at the German headquarters. Picture Alliance | Picture Alliance | Getty Images Oracle shed 21,000 jobs, almost 13% of its workforce, in the past year, as tech giants carry out sweeping layoffs as a result of AI. The company’s total workforce stands at…
SpaceX shares fell more than 3% in premarket trading on Tuesday, following a $400 billion selloff on Monday as a post-debut rally fizzled out. The space and AI company saw huge gains after a record-breaking IPO on June 12, briefly surpassing Amazon and Microsoft in market capitalization, before falling back below both as sentiment cooled….
Billboards in Times Square celebrate the SpaceX IPO debut at the Nasdaq on June 12th, 2026. Adam Jeffery | CNBC SpaceX stock fell 16% on Monday, continuing a selloff that has seen shares tumble over the past three full days of trading after an initial rally from its record-breaking initial public offering. Elon Musk‘s space…
Chevron will fuel a massive Microsoft data center in West Texas with natural gas under a 20-year agreement, the oil major announced Monday. The data center, called Project Kilby, is expected to consume nearly 2.7 gigawatts of electricity, equivalent to the power needed to run about 2 million homes. Most of the electricity will come…
Google is on pace for its worst day on the stock market in a year, as artificial intelligence concerns have mounted and two high-profile researchers departed for rivals in recent days. Shares of parent company Alphabet slid 7% Monday morning, underperforming both the Nasdaq and the rest of its megacap peers. Google’s brain drain concerns…
We are beginning to see the real weaknesses in these hyperscalers. Amazon , Alphabet , Microsoft and Meta Platforms may have the money, but they have run into a brick wall in this stock market. That brick wall is hardware. I should have realized how acute the shortage is when we saw how the memory…
Club name FedEx will soon step into the earnings spotlight after a holiday-shortened week of trading brought good news on the Iran war and oil prices. Also on our radar in the week ahead is May inflation data — though caveats are needed, as we’ll explain later — and earnings from memory chipmaker Micron ,…
Artificial intelligence is giving tech investors an entirely new reason to pay attention to the Federal Reserve. For years, megacap tech companies with hefty balance sheets have been able to shrug off rising rates, which tend to weigh more heavily on smaller, less-profitable peers. But companies that were once cash cows are depleting reserves and…
Apple CEO Tim Cook and Jalen Brunson, basketball player for the New York Knicks, during the first day of in-store sales of Apple’s latest products at Apple’s Fifth Avenue store in New York, Sept. 19, 2025. Bloomberg | Bloomberg | Getty Images For the past few years, consumers have been swarming to AI chatbots and…
