Business spending on AI surged 500% this year to $13.8 billion, says Menlo Ventures

Enterprise spending on generative AI surged 500% this year, hitting $13.8 billion — up from just $2.3 billion in 2023, according to a new Menlo Ventures report.

Business - CNBC - 20 hours ago

Americans spend $300 billion a year on gift cards. Why some experts say they should stop.

“Gift cards are a good idea for everybody but the person who receives them.”

Business - MarketWatch - November 13

Hurricanes, storms cost US $500 billion this year: Analysis

Hurricanes and tropical storms have caused economic losses of nearly $500 billion as they have ravaged the country this year, according to analysis by AccuWeather. Experts estimated that the ...

Politics - The Hill - November 8

Amazon Shares Rise on Robust Demand, Surge in AI Infrastructure Spending

The tech company’s capital expenditures reached a quarterly record amid a big build-out of artificial-intelligence infrastructure.

Business - The Wall Street Journal - October 31

AI demand drives growth and higher spending at Amazon’s cloud business

Ecommerce company’s shares rise as it also gives an upbeat forecast for the holiday quarter

Business - Financial Times - October 31

Perplexity AI in final stages of raising $500 million round at $9 billion valuation

Perplexity AI is in the final stages of raising $500 million in funding at a $9 billion valuation, a source familiar with the situation told CNBC.

Business - CNBC - November 5

Rivian’s stock soars as joint venture with Volkswagen is upsized to $5.8 billion

Rivian Automotive Inc. and Volkswagen have launched their upsized joint venture, joining forces with the goal of creating “cutting-edge” electric-vehicle technology.

Business - MarketWatch - November 13

Microsoft reports quarterly sales up 16% to $65.6 billion as investors ask if AI spending worth it

Microsoft on Wednesday reported its quarterly sales grew 16% to $65.6 billion as the company sought to assure investors its huge spending on artificial intelligence is paying off

Tech - ABC News - October 30

IBM says AI business is rapidly growing, but that’s not enough to help the stock

IBM’s stock is falling despite a profit beat for the third quarter, as consulting revenue came in flat and infrastructure revenue declined.

Business - MarketWatch - October 24

Small Business Administration-Backed Financing Rose to $56 Billion in Fiscal Year 2024

Smaller loans made up for much of the additional funding.

Business - Inc. - November 8

Thrive Capital: the venture firm staking billions on a few big bets

The ‘all in or all out’ approach of Josh Kushner’s VC business inverts the traditional venture model. Will it pay off?

Business - Financial Times - 11 hours ago

Ukraine war briefing: Biden plans military aid surge from billions still available, say reports

Zelenskyy congratulates Trump on election win – but gloom and uncertainty prevail in Kyiv. What we know on day 988. See all our coverage of the Russia-Ukraine war The Biden White House ...

World - The Guardian - November 7

AI Investments Are Booming, but Venture-Firm Profits Are at a Historic Low

Investors hope the Trump administration will make tech acquisition deals easier.

Tech - The Wall Street Journal - 3 days ago

Why Meta and Snap are spending billions on AR glasses

Meta CEO Mark Zuckerberg and Snap CEO Evan Spiegel are betting big that augmented-reality glasses will replace the smartphone.

Business - CNBC - October 24

'Inflation is like a regressive tax,' economist says — only one group can 'easily afford' holiday spending this year

If the thought of holiday spending makes you wince, you're not alone. Only one group can easily afford this year's costs, a survey found.

Business - CNBC - October 30

MicroStrategy’s stock surges on $4.6 billion bitcoin buy

MicroStrategy shares are surging on the software company and cryptocurrency play’s $4.6 billion bitcoin buy.

Business - MarketWatch - 2 days ago

Rivian-Volkswagen joint venture deal rises to up to $5.8 billion, VW cars expected as early as 2027

The companies said the deal is now up to $5.8 billion, with the first VW models to use Rivian's software and electrical architecture arriving as early as 2027.

Business - CNBC - November 12

This ETF has trounced the S&P 500 with bets on AI in a surprising sector

Macrae Sykes of Gabelli Funds explains his strategy, which looks beyond the Nvidia-focused AI hardware buildout.

Business - MarketWatch - October 26

Meta and Microsoft Won’t Stop Spending on AI

Both tech giants reported strong third quarters but their stocks fell anyway.

Business - Inc. - October 31

Thales Orders Beat Forecasts Amid Defense-Spending Surge

Thales posted orders above analysts’ expectations for the first nine months of the year as its defense and security business continued to benefit from robust military spending amid high ...

Business - The Wall Street Journal - October 23

Uber shares slide on slowing bookings growth

Forecast for customer spending on ride-hailing app fell slightly short of Wall Street’s estimates

Business - Financial Times - October 31

5 Tips to Seamlessly Integrate AI Into Your Business

Small businesses shouldn’t ignore AI during its boom phase, but they shouldn’t get carried away either.

Business - Inc. - November 5

How Sema4.ai is empowering business users to deploy AI agents in minutes

Many early AI agents tend to be singularly-purposed or IT-driven. Sema4.ai says it is the differentiator for diverse horizontal use cases.

Tech - VentureBeat - 6 days ago

Meta’s stock is up 500% in two years. Is it still a ‘set-it-and-forget-it’ play?

Meta reports earnings on Wednesday afternoon.

Business - MarketWatch - October 29

Chancellor to change debt rules to release billions for infrastructure spending

Rachel Reeves tells the BBC the change will allow the government to borrow more money - but cuts are still expected in her first Budget next week.

Outside spending eclipses $1 billion in the presidential race, setting a new record

Outside groups have poured a record-breaking $1.1 billion into the presidential race with less than two weeks to go before Election Day.

Harris, Trump and Allies Spend Over a Half-Billion Dollars in 16 Days

Donald Trump has now raised $1 billion since announcing his run for president. And he has Elon Musk’s $119 million. But Kamala Harris has a huge cash advantage.

Top stories - The New York Times - October 25

A Psychologist Explains Why Americans Spend Billions to Scare Themselves Silly on Halloween

Why do Americans shell out north of $12 billion on Halloween? A psychologist explains the appeal of scaring ourselves silly.

Business - Inc. - October 25

The Budget Hawk Atop a Tech Giant's $64 Billion Spending Spree

Amy Hood is at the center of Microsoft’s bet-the-company dive into AI.

Tech - The Wall Street Journal - November 1

Startup CEO says humans won't be needed for translation in 3 years as it launches AI app

Unbabel on Wednesday announced an artificial intelligence-powered translation service, adding another rival to a highly competitive space.

Business - CNBC - November 13

Inside Goldman Sachs’ years-long power struggle over its China venture

A deal with a prominent Chinese banker gave the US group market access, but securing full control cost a lot more than it expected

Business - Financial Times - November 14

HSBC shares surge on another $3 billion buyback plan and earnings beat

HSBC shares increased 4% on Tuesday as the British bank beat analysts’ earnings expectations for the third quarter and launched another $3 billion share buyback plan.

Business - MarketWatch - October 29

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