Technology shares fell sharply worldwide as investors questioned whether massive AI spending can support lofty valuations. Chipmakers, Alphabet and newly public SpaceX were among the names hit as the sell-off spread to Asian markets.
Posts tagged as “Alphabet”
The S&P 500 and Nasdaq hit record highs Wednesday as investors remain optimistic despite ongoing Iran conflict and rising energy prices. Strong corporate earnings and expectations of de-escalation in the Middle East have fueled the rally.
A remedy hearing has begun in Washington, D.C., to determine penalties for Google following an August court ruling that found the company guilty of monopolistic practices by leveraging its market dominance to suppress competition. The hearing, which could last three weeks, may result in significant actions such as requiring Google to sell its Chrome web browser, potentially reshaping its parent company, Alphabet. This case is seen as pivotal for the future of the search market, with the U.S. Department of Justice advocating for increased competition and consumer choice, while Google faces potential existential threats to its business operations and market strategy.
Juneteenth is a national holiday that marks the end of slavery in the United States, celebrated by communities for over a century. This year, CBS News will host a special marathon of BET's "America In Black" series to commemorate the day. Juneteenth is a day to celebrate the freedom and resilience of African Americans, and to recognize the long and difficult struggle for civil rights in the United States.
Google is developing a new AI-powered search engine called Project Magi to compete with Microsoft's Bing, which is powered by generative AI technology. Google is also making changes to its existing search engine to make it more AI-friendly, introducing features such as natural language processing. Industry analysts are closely watching Google's efforts to stay ahead of the competition and ensure its search engine remains the go-to choice for users.
On Sunday, an avalanche in the French Alps near Mont Blanc killed six people and injured one. Video footage shared by Reuters showed clouds of snow rolling down the mountainside. Interior Minister Gerald Darmanin deployed emergency workers to the scene and one person was sent to the hospital with minor injuries. The local authorities of Haute-Savoie are investigating the cause of the avalanche.
At least four hikers have been killed and two more are missing after an avalanche swept through the French Alps near Mont Blanc on Sunday. Two helicopters were sent in to help in the search, and one person suffered slight injuries while eight others were unharmed. Rescue teams are continuing to search for the two missing hikers and the cause of the avalanche is still under investigation.