world

The rise of Zohran Mamdani, a democratic socialist, fueled a wave of spending to oppose his candidacy and back the former New York Gov. Andrew Cuomo. Source link

AMD smashed expectations, and IBM impressed with cloud strength. Yet the Nasdaq fell, revealing Wall Street’s playlist is stuck on one track: AI mania. Source link

The AI-led rally has pushed the S&P 500’s forward P/E above 23—its highest since 2000, according to FactSet. Source link

The widening gap followed a period of spending spree in the private equity industry in 2021, when money rushed into deals at ultra-low interest rates and high valuations. Source link

“I think we are transitioning from the energy transition,” the CEO of the American Petroleum Institute lobby group told CNBC. Source link

Asia Pacific markets fell, pressured by declines in AI-related names like Palantir. Source link

The chipmaker is working on a major deal with OpenAI Source link

Both automakers have already cut vehicle production guidance, while Rivian also has negatively changed its adjusted earnings and gross profit expectations. Source link

Beta’s IPO marks a big step for the electric vertical takeoff and landing industry that’s been vying for approval from the Federal Aviation Administration. Source link

IBM recently delivered stronger earnings than expected, thanks to a 10% jump in revenue from software, meeting consensus. Source link