AI SPENDING BOOST SET TO LIFT ALL S&P 500 SECTORS
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
Artificial intelligence investments are beginning to deliver profits across the entire economy, positioning the next earnings season for broad-based growth. Benefits of AI spending are spreading beyond technology companies into traditional sectors.
■ MORE FROM THE BUSINESS DESK
Amazon is increasing its minimum hourly pay for eligible full-time U.S. operations workers by $1 to $20 per hour. The company is also introducing new banking tools for workers.
Apollo Global Management President Jim Zelter said artificial intelligence capital expenditures have reached unprecedented scale, while predicting higher interest rates will persist for an extended period.
Clara Wu Tsai, co-owner of the New York Liberty and Brooklyn Nets, argues that live sports have become increasingly valuable assets in an AI-dominated media landscape. The unpredictability and communal nature of live events offer something artificial intelligence cannot replicate.
Blue Energy Global Inc. has submitted an application to the Nuclear Regulatory Commission for a small modular reactor at a Texas power facility. The reactor will supply electricity to a Crusoe Inc. data center currently under development.