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- Shares in Musk’s SpaceX plunge as tech and AI stocks fall
The market has been reacting to possible tougher scrutiny of data centre construction and the AI industry following the US mid-terms [TheTopNews] Read More.44 mins ago - Stocks Erase Post-Midterm Elections Rally, Dragged Down by Tech
The S&P 500 slumped to its worst daily decline in more than a year, dragged down by the technology sector as investors fretted about the durability of the A.I. build-out. [TheTopNews] Read More.1 hour ago - Marc Lore’s Wonder confidentially files for IPO
Marc Lore's latest startup Wonder has confidentially filed for an initial public offering. [TheTopNews] Read More.2 hours ago - How Democrats’ midterm gains could reshape the political landscape for AI
The midterm elections ushered in Democratic majorities in both the House and Senate for the next two years, along with state-level gains that could shake up oversight of artificial intelligence (AI).The AI sector has faced political scrutiny in a variety of areas, including the amount of electricity consumed by data centers and its impact on consumers, as well as cybersecurity and labor force impacts.President Donald Trump has made the development of artificial intelligence – which he has rebranded in official White House policies as "superintelligence" – a priority in his administration and has the authority to veto legislation passed by the Democratic Congress, while he will also retain control of regulatory agencies in the executive branch.With the AI buildout advancing at a rapid pace, Democratic policymakers at the federal and state level could make moves that affect how companies approach those investments as they deal with oversight and political pressure.BUSINESS LEADERS, INVESTORS WEIGH IMPACT OF DEMOCRATS' MIDTERM SWEEP ON MARKETS, AI AND TRAVELState Street chief macro policy strategist Elliot Hentov and investment strategist Christine Norton wrote that "Democratic gains could create additional headwinds for… and increase scrutiny of AI providers and data center development, particularly the impact of power demand on local communities.""These concerns are heightened by some of the state gubernatorial results," Hentov and Norton added. "Yet at a federal level, congressional control alone would not be enough to curtail AI-related data center construction in the face of a presidential veto.""AI also remains a strategic priority for both parties, suggesting that greater policy scrutiny should not automatically be equated with an end to the AI capital spending cycle. AI investment will likely continue to be robust in 2027, albeit tempered by strains on the supply chain and tighter credit," they added.TRUMP REBRANDS AI, REJECTS 'GLOBALIST SCHEME' TO CONTROL TECHDallas Dolen, technology, media and telecom lead at PwC told FOX Business that with Democratic control of Congress "we're likely to see greater scrutiny around AI safety, bias, labor, copyright and transparency, but more oversight doesn't necessarily mean more certainty.""Companies will still be navigating an evolving patchwork of state requirements, and they can’t put major AI investments on hold while the rules take shape," Dolen said. "They need a strong governance baseline that allows them to keep investing, building and scaling AI responsibly."WHAT THE MIDTERM ELECTIONS COULD MEAN FOR MARKETS, DEBTStrategists at UBS noted that potential pauses on data center construction… [TheTopNews] Read More.2 hours ago - Martha Stewart Now Blames Craig Melvin for Homeless Halloween CostumeStewart, the media mogul and entrepreneur, had posted a photo of a costume with tattered clothes and a sign asking for help. [TheTopNews] Read More.2 hours ago
- Expedia CEO says AI agents aren’t changing booking habits — yetExpedia CEO Ariane Gorin told CNBC that AI agents present an exciting time for the travel industry but that they haven't yet impacted bookings. [TheTopNews] Read More.2 hours ago
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