Elon Musk says that in 10 to 20 years, work will be optional and money will be irrelevant thanks to AI and robotics
“It’ll be like playing sports or a video game or something like that,” the Tesla CEO said.
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Intrinsic, an Alphabet company, and Nvidia supplier Foxconn will join forces to deploy AI robots in the latter’s U.S. factories
Companies in the AI space are paying more attention to “physical AI,” or artificial intelligence that operates in the real world.
Big 5 AI ‘hyperscalers’ have quadrupled their use of debt to fund operations, Bank of America says
All five companies generate more than enough cash to cover their operations, but the arrival of debt vehicles to fund AI has complicated the investment case for tech stocks.
‘Bond King’ Jeffrey Gundlach warns of the next financial crisis: ‘It has the same trappings as subprime mortgage repackaging in 2006’
The billionaire founder of DoubleLine Capital is also convinced the $38 trillion national debt will be addressed before 2030: "something has to happen."
Goldman says the stock market has already priced in the AI boom, with $19 trillion of market value running ahead of actual economic impact so far
"Past innovation-driven booms—like the 1920s and in the 1990s—have led the market to overpay for future profits even though the underlying innovations were real."
More groceries may benefit from tariff exemptions as the 2026 midterm elections get closer, analyst says
"Food prices also weigh heavily on consumers' inflation psychology, not to mention their sentiment."
The Coast Guard has seized a record amount of cocaine — while Trump says interdiction has failed and is blowing up suspected drug boats
The U.S. Coast Guard's record haul of 225 metric tons of cocaine over the previous year is nearly 40% higher than the past decade's annual average.
Bessent says Trump’s $2,000 checks would need congressional vote
Trump, who has touted the billions raised in US tariff revenue this year, has talked about the checks as public frustration mounts over the cost of living.
If you think beef is expensive now, just wait until next year when prices could soar nearly 60%
"Families are going to see $10-a-pound ground beef in the grocery store."
