Over the past 12 months, 10 startups in artificial intelligence (AI) have collectively gained about $1 trillion in market valuation.
Tag: U.S. Economy
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SPOTLIGHT: BIGS GETTING BIGGER
This year’s third quarter alone “featured the richest stretch of private equity (PE) dealmaking in years,” The Wall Street Journal said, led by the astonishing $55-billion acquisition of game maker Electronic Arts by a coalition of PE firms.
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TOP TREND 2023, OFFICE BUILDING BUST: ‘TOO HISTORIC TO TEAR DOWN, TOO COSTLY TO SAVE’
A growing number of cities face a dilemma, according to The Wall Street Journal: historic office towers that hold a portion of the city’s identity are no longer able to pay their own way and fail to qualify for conversion to other uses, but preservationists militate against blowing them up or tearing them down.
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AI PLAYS LARGER ROLE IN U.S ECONOMY AS CONSUMER SPENDING WEAKENS
Some economists have argued that the tech sector—specifically the boom in AI spending—has been the single most important component in U.S. economic growth this year.
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CONSUMERS ARE COOKING MORE AT HOME, BOOSTING GROCERY SALES
Continued inflation and worries about their economic future have more consumers eating at home, a worrying trend for the larger economy but a nice boost for the grocery business.
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DOGE’S COST-CUTTING CAMPAIGN RESULTS
Elon Musk and the computer bro’s in his Department of Government Efficiency (DOGE) came into the government last January with a promise to cut federal spending by $2 trillion—almost a third of the entire federal budget.
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HOMEOWNERS RUSH TO REFINANCE AS MORTGAGE RATE TICKS DOWN
A decline of 0.3 of a percentage point brought the national average mortgage interest rate to 6.26 percent over the three weeks ending 17 September, the lowest rate since last November, according to the Mortgage Bankers Association (MBA).
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THE NUMBER OF LATE-PAYING CAR LOANS CONTINUES TO RISE
As wage increases lag inflation and unemployment ticks up, low-income households are having a harder time keeping up with their car payments.
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CONSUMERS OUTLOOK REMAINS DARK
Households’ negative view of the U.S. economy and its future remains grim, according to the initial October result of the University of Michigan’s monthly survey of consumer sentiment.
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WARNINGS MOUNT REGARDING A STOCK MARKET BUBBLE
The International Monetary Fund and Bank of England have joined Morgan Stanley and JPMorgan boss James Dimon in raising alarms about the growing possibility of a stock market bubble that could be close to bursting.