Tech billionaires pour $120M into killing California’s wealth tax
Government and policy
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Citi boss Jane Fraser says 2 AI races will decide banking’s future
Artificial Intelligence
India orders Meta to remove Instagram ads promoting child abuse material
Government and policy
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Latest news
FUTURE OF WORK
AI-native startups hire fewer juniors and more elites, Harvard study finds
New research shows the firms built around AI are smaller, flatter, and stacked with senior talent from elite schools, and that the career ladder’s bottom rung is the casualty
ARTIFICIAL INTELLIGENCE
The AI chip trade cracked this week, and the hunt for what replaces it has begun
Semiconductor stocks lost 12% in two sessions while the Dow hit a record, as investors rotated from the companies that build AI infrastructure to the ones that sell it
ARTIFICIAL INTELLIGENCE
SAP freezes hiring and travel to shovel cash into AI
SAP has told staff it will freeze most hiring, halt non-essential travel and cut supplier spending to fund a “significant” AI push. The memo lands with Europe’s largest software company down about 33 per cent this year, as investors worry AI will erode demand for its core products.
BUSINESS
Judge grants Alibaba a reprieve from the lobbying ban tied to the Pentagon’s blacklist
The order restores the Chinese giant’s access to Washington lobbyists while a US court weighs whether the law is constitutional
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