Shares of technology companies took a hit as long-term Treasury yields reached their highest point in 12 years. The surge in yields is expected to have a negative impact on equities, particularly mega-cap tech stocks, according to Alex McGrath, the Chief Investment Officer for NorthEnd Private Wealth.
Intel Plans to Hire 3,000 for Semiconductor Factory
Intel has announced that it will be hiring 3,000 individuals to work at its newly planned semiconductor factory in eastern Germany. This move signals the company’s commitment to expanding its capabilities in the region by the end of the decade.
Amazon Faces Lawsuit Alleging Monopoly Practices
Amazon.com experienced a drop in its share price after the Federal Trade Commission (FTC) filed a lawsuit against the e-commerce giant. The lawsuit accuses Amazon of engaging in monopolistic practices that stifle competition by controlling various aspects of online selling.
Revealing Revenue-Sharing Deals in Google’s Antitrust Case
The Department of Justice’s antitrust case against Google has shed light on revenue-sharing agreements between the search giant and major smart-phone manufacturers such as Apple and Samsung. These deals ensured that Google’s search engine remained the default option on these devices.
OpenAI Considers Share Sale at Record Valuation
OpenAI, the artificial intelligence startup behind ChatGPT, is reportedly in talks with investors for a share sale that could value the company at $80 billion to $90 billion. This valuation would nearly triple its previous value earlier this year, indicating strong investor interest in the potential of AI technologies.