Data centers have become the face of AI backlash, with celebrities, politicians and protesters pushing to slow their growth.
Why it matters: America's sharply rising public opposition to data centers — which fuel our everyday use of the internet — could pose an existential threat to AI's growth.
Moderna and Merck shares soared on Wednesday after the companies said a personalized mRNA treatment hit its target of preventing skin cancer from recurring or spreading in a late-stage clinical trial.
Why it matters: The results come at a pivotal moment for Moderna and mRNA research, after Trump administration health officials cut federal funding for new vaccines and asserted the technology poses more risks than rewards.
Many Federal Reserve officials believed that the central bank would have to raise interest rates if inflation did not ease, according to the minutes released on Wednesday from the Fed's July 28-29 policy meeting.
Why it matters: Some of the nation's top policymakers worried that interest rates weren't doing enough to restrain the economy and bring down inflation. They warned that waiting too long to raise rates could mean bigger, more painful increases down the line.
Treasury Secretary Scott Bessent will host finance ministers and economic leaders from around the world, plus heavy-hitting U.S. CEOs, for the G20 Finance Ministerial in historic Asheville, N.C., from Aug. 29 to Sept. 1.
Why it matters: In America's 250th anniversary year, Bessent will use the summit in the Blue Ridge Mountains to emphasize the resilience of the American spirit — and push his global counterparts to focus on growth and prosperity, showcasing results of President Trump's agenda.
The focus on economic growth will be a stark change of tone and topic from climate change, which often dominates global gatherings.
Stripe on Wednesday told investors that January 1st marked the "beginning of the singularity," which it refers to as a major inflection point in longterm trends, according to a letter obtained by Axios.
Why it matters: The payments giant believes that being privately held is the best structure for such a consequential moment, which suggests that any IPO remains on indefinite hold.
Rivian's headlights lit up a family of raccoons on a pitch-black Wisconsin road, then reshaped their beam around another car to avoid blinding its driver, without dimming the road ahead.
Why it matters: A decade after shape-shifting headlights changed nighttime driving in Europe, the technology remains remarkably scarce in North America — a case study in how U.S. regulations can slow the arrival of proven safety innovations.
Stocks have been behaving oddly recently, with downright dull moves for the S&P 500 index, even as companies within it swing like mad.
Why it matters: This dynamic — individual stocks posting large, uncorrelated moves that cancel each other out — is another way the AI boom is reshaping the markets.
Billionaire Mark Walter's surprise sale of the Los Angeles Lakers is drawing attention to, of all things, a once-staid corner of finance: life insurance.
Why it matters: Over the past decade or so, big Wall Street firms like Apollo Global Management and KKR have jumped into the business, buying life insurance companies that have been putting money into opaque private-credit investments that are harder for regulators to track.
Target's turnaround shows signs of accelerating under its new CEO as the retailer reported a sharp uptick in grocery sales and online delivery.
Why it matters: The big-box chain had been mired in a slowdown, struggling to keep up with rival Walmart on price and with other competitors on merchandise mix.
Solar energy and batteries are making it easier for utilities to meet surging electricity demand during extreme heat, but prolonged high temperatures are exposing other vulnerabilities in the grid.
Why it matters: Electricity demand rises as air conditioners work harder in extreme heat, while high temperatures can make parts of the system less efficient and put additional stress on equipment.
OpenAI said Tuesday it is pausing some model work over safety concerns, days after rival Anthropic doubled down on insisting that its own safety measures were solid enough that it didn't need to slow down.
Why it matters: The two leading AI labs are publicly diverging on how to manage safety risks, potentially putting them on different model-release timelines as both prepare for expected initial public offerings.
President Trump said Tuesday night he is pausing for three days 50% tariffs on billions of dollars worth of Canadian goods that were set to take effect early Wednesday.
Why it matters: It follows an intense push in recent days — including talks between Trump and Canadian Prime Minister Mark Carney on Tuesday — to avert another escalation in the North American trade war.
