Victor Dergunov warns that the S&P 500 may experience a near-term pullback and longer-term correction due to an unsustainable AI-driven earnings bubble fueled by hyperscaler spending. Additional risks include rising U.S. debt, hawkish Federal Reserve policies, and geopolitical tensions in the Strait of Hormuz, which could impact market liquidity and global growth. Dergunov maintains a cautious outlook with a wide year-end S&P 500 target range of 7,200 to 7,700 and anticipates a potential market meltdown within 2 to 5 years as the AI bubble unwinds.
Anthropic has received final court approval for its $1.5 billion settlement in a class action lawsuit over copyright infringement related to its AI training data. The settlement will pay $3,000 per copyrighted work to authors and publishers for about...
Mark Zuckerberg has become the world's fifth-richest person, surpassing Michael Dell after Dell's shares dropped 3.3% amid a recent selloff. Dell's stock has fallen over 18% since its peak on June 1, reducing his net worth by $2 billion to $221.1 bil...
The US is considering banning China's open-weight AI model Kimi K3 due to concerns over competition with American AI firms and potential data security risks. OpenAI and other US AI leaders worry that open-source Chinese models could undercut their in...
Meta Platforms is forecasted to exceed Wall Street's Q2 earnings expectations, with Bank of America predicting $60.6 billion in revenue and $7.50 earnings per share, driven by healthy advertising demand and AI improvements. Despite foreign exchange c...
Meta Platforms' Q2 earnings will highlight its capital expenditure guidance, already revised for 2026, with market attention on its ability to monetize AI infrastructure investments. The company is shifting toward becoming a neocloud provider and com...
