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Tech News
Investment in AI data centers has surpassed the combined historical spending on canals, railroads and the electrical grid, according to reporting on the current buildout. The surge is generating jobs and lifting stock valuations tied to AI infrastructure, even as it strains construction resources and materials markets.
Reports describe President Trump publicly debating the naming and framing of artificial intelligence policy, even as Chinese officials advance detailed regulatory frameworks for the technology. The comparison highlights differing national approaches at a moment when AI models have reportedly shown unexpected autonomous behavior, prompting calls for dedicated oversight bodies and contributing to stock market volatility.
Piper Sandler lowered its price target on Cisco Systems to $125 from $132, citing a lower price-to-earnings multiple assumption amid worries that networking-industry growth is peaking. Cisco shares fell about 5% on the news. The stock had hit a record high in June and remains up roughly 56% over the past year, helped by revenue growth tied to AI demand, including a fourth-quarter earnings beat last month with $17.25 billion in revenue versus a $16.8 billion estimate.
Apple shares briefly touched $345.34 shortly after markets opened, topping the previous intraday record of $344.57 set in July. The milestone comes just three weeks after Tim Cook handed the CEO role to John Ternus, with shares having recovered from post-earnings losses and a shaky start to the transition.
AMD's stock surged roughly 9% on Monday morning, pushing its market capitalization above $1 trillion for the first time. The rally capped a month-long climb of about 29% in AMD shares, with most of that gain coming in the past week alone. The milestone puts AMD ahead of rival Intel, whose market cap sits near $648 billion.
Wall Street saw another volatile week as the Federal Reserve raised interest rates a quarter point to a range of 3.75%-4%, its first hike in three years, while renewed concerns about AI safety rattled tech stocks. The Dow fell 1.7% for its third consecutive losing week, led by steep declines in bank stocks including Goldman Sachs, which dropped nearly 8.5%. The S&P 500 and Nasdaq held up better, with the Nasdaq even gaining slightly as investors bought back into AI names after an early sell-off, while oil price swings tied to Mideast tensions added further pressure on companies like Boeing and FedEx.
Amazon received warrants to buy up to 1.69 million Generac shares at $200.93 each, potentially worth up to $8 billion, as part of a deal for Generac to supply backup power generators to Amazon's data centers. Generac shares jumped more than 40% in after-hours trading following the news, with initial generator deliveries expected to total $2.4 billion between 2027 and 2028.
X has rolled out a new feature letting U.S. users trade stocks, ETFs, and cryptocurrencies directly from ticker mentions on their timelines. Tapping a Cashtag now shows a live price chart and related posts, with a 'Trade' button that routes users to partnered brokerages like Interactive Brokers, Moomoo, Gemini, Kraken, and Coinbase to complete transactions.
Oracle announced Saturday that executive chairman Larry Ellison has called off a plan to sell 50 million of his shares, worth roughly $7.5 billion, that had been disclosed in an earlier regulatory filing. The company said no shares were sold under the plan and that Ellison has no other plans to sell Oracle stock, without explaining the reversal.
Oracle co-founder Larry Ellison called off a prearranged plan to sell as many as 50 million shares of Oracle stock, a transaction that could have been worth up to $7.5 billion. Ellison confirmed that no shares were actually sold under the arrangement before it was withdrawn.
AMC CEO Adam Aron says Robinhood issued tokenized versions of AMC shares without the company's authorization, and he is considering legal action in response. The dispute centers on whether a brokerage can create blockchain-based tokens tracking a public company's stock without that company's consent.
Researchers report that psilocybin, the psychoactive compound found in magic mushrooms, shows potential to protect cancer patients from developing long-term chronic pain. The finding points to a new therapeutic application for the psychedelic beyond its studied uses in mental health treatment.