Money, Wealth & Power—A Daily Look at the Financial World
Singtel and Nvidia have jointly established the Singtel Digital InfraCo-NVIDIA Centre of Excellence for Applied AI, a facility designed to help governments and enterprises develop artificial intelligence systems while keeping sensitive data within national borders. The Singapore government formally backed the initiative, with Senior Minister of State Tan Kiat How delivering a speech at the…
Lucid Group, the Saudi-backed electric vehicle startup that positioned itself as a direct challenger to Tesla, reported a net loss of about $2.7 billion for fiscal year 2025 while cutting roughly 2,500 U.S. jobs across multiple rounds of layoffs. The company’s manufacturing ambitions, once fueled by billions in sovereign wealth funding, now face a harsh…
Lamborghini has abandoned its plan to build an all-electric supercar, killing the Lanzador project that was expected to carry a price tag near $300,000 and instead redirecting its electrification strategy toward plug-in hybrids. The Italian automaker reportedly dismissed the pure-EV effort as an “expensive hobby,” a sharp reversal for a company that had staked its…
Microsoft is facing scrutiny over how its business relationships intersect as Elon Musk presses a lawsuit against OpenAI, the AI lab closely associated with Microsoft. Separately, Microsoft has been linked in reports and market discussion to Starlink-related connectivity work for Azure customers, which would put the software giant in direct business with Musk’s SpaceX even…
Seven major corporations have announced tens of thousands of job cuts in early 2026, spanning industries from tech and logistics to chemicals and beer. Employers slashed 108,435 positions in January alone, the worst start to a year since 2009, driven by automation strategies, shifting consumer habits, and cost reduction campaigns. The wave of layoffs has…
JPMorgan Chase Chief Executive Officer Jamie Dimon warned that he is seeing echoes of the period before the 2008 financial crisis, pointing to what he described as aggressive risk-taking by rival banks in the fast-growing private credit market. His comments arrive as major financial institutions expand lending outside traditional banking channels, and as the International…
Meta Platforms has agreed to purchase AI chips from Advanced Micro Devices in a deal valued at up to $100 billion, making it one of the largest semiconductor procurement agreements in history. The pact, which covers AMD’s MI450 processor family for Meta’s data centers, arrives just months after Meta deepened its partnership with OpenAI and…
A senior JPMorgan executive expressed disbelief that market participants and commentators are treating rising stress in private credit as a surprise, pointing to years of regulatory warnings that highlighted similar risks in adjacent markets. The reaction was described as coming during a closed-door industry panel, where the executive reportedly said the warning signs were hiding…
OpenAI and Nvidia abandoned a previously announced $100 billion multi-year infrastructure deal, replacing it with a far smaller $30 billion equity investment as investor concerns forced a rethink of the AI company’s spending ambitions. The retreat comes alongside reports that OpenAI has told investors it is now targeting roughly $600 billion in total compute spending…
Several major U.S. retail chains have published work-from-home information and/or remote job listings, giving job seekers a direct path to remote employment backed by established brands. Nordstrom and Walgreens lead the verified list, with first-party career-page documentation of remote customer care work, while at least five other retailers have a track record of remote hiring…