Dow soars 524 points as US stocks notch best day since January after streak of upbeat earnings

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New York Stock Exchange traders
Equities rose despite weaker-than-expected GDP data for the first quarter of 2023.

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Microsoft's bet on AI is still in its early days. But there are signs it's already paying off.

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Satya Nadella
Microsoft CEO Satya Nadella said the company is investing heavily in AI. There are already early signs of success.

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Activision Blizzard sinks 10% as the UK blocks Microsoft's $69 billion buyout on fears it could harm cloud gaming competition

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Call of Duty: Warzone

Activision

The rise of AI will only make Big Tech more powerful, researchers warn

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Tech engineer woman in data center looking at her tablet.
Researchers at AI Now warn that only Big Tech companies have the resources and scale to make AI happen.

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Big tech stocks have started 2023 on a tear. Now they face a moment of truth.

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Wall Street.
Alphabet, Amazon, Meta, and Microsoft will all report their first-quarter earnings this week.

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Fears of an earnings recession are overblown and investors shouldn't panic sell as stocks will hold up fine, BMO chief strategist says

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 9, 2016. REUTERS/Brendan McDermid
Traders work on the floor of the NYSE.

Thomson Reuters

Lyft is reportedly slashing 1,200 jobs — at least 30% of its staff. It's struggling to keep up with Uber.

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Lyft sign
Lyft is cutting 1,200 employees — or 30% of staff — according to the WSJ.

Associated Press

Artificial intelligence will make Big Tech even bigger. Something needs to be done about the power imbalance, researchers warn

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Good morning, readers. I'm Diamond Naga Siu, and I enjoy some of Taylor Swift's music but definitely don't consider myself a Swiftie.

I do, however, find myself enchanted by her financial knowledge.

I was jealous of people who were laid off from Big Tech and posting about it since I got laid off from a startup and felt invisible. Then I realized shame drove my resentment.

Tech Insider : Technology
Hanna Matyiku-Nuñez feeding baby with bottle.
In 2021, Hanna Matyiku-Nuñez was laid off from her job at a tech startup while on maternity leave.

Courtesy of Hanna Matyiku-Nuñez

Just 20 stocks on the S&P 500 are responsible for nearly all its gains this year as Big Tech leads rally

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new york stock exchange traders bank run silicon valley bank

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