Business

Mark Zuckerberg is stacking the deck in the AI race, betting that unlimited capital, top talent, and raw computing power will ensure victory. If the winning hand Zuckerberg is chasing—AI “superintelligence”— is still very much a vague and theoretical concept, the Meta CEO’s remarkable series of moves unveiled Monday instantly changed the reality for everyone else in the game, particularly…

The Justice Department on Monday announced a significant crackdown on the North Korean IT workers fraud scheme, with two new indictments naming more than a dozen alleged conspirators accused of stealing millions from at least 100 companies in the past four years.  According to the first major indictment from the District of Massachusetts, a crew of North Korean IT workers…

President Donald Trump on Monday declared the “12 day war” between Israel and Iran as likely ending in a ceasefire, validating the strategic gamble of a devastating U.S. airstrike this weekend on three Iranian nuclear sites. “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE,” Trump posted on social media, although there was…

A tentative ceasefire announced by President Donald Trump this evening—but not yet verified by Israel or Iran—may have shifted the course of world markets that were staring down a potential oil shock and elevated inflation just hours ago. Iran’s parliament voted on Sunday to close the Strait of Hormuz, a vital waterway to the global oil trade. The surprise vote,…

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The cofounders of WhatsApp resisted ads in the app for years, including after the company was acquired by Meta for $22 billion in 2014.  Brian Acton and Jan Koum left the company in 2017 and 2018, respectively, and on Monday Meta introduced ads in the “Status” feature as well as sponsored Channels in the the “Updates” tab of WhatsApp. WhatsApp…

Chipotle CEO Scott Boatwright says the fast-casual chain is expanding at an “exponential rate,” with plans to open more than 300 new locations this year. Key to making the growth happen is new AI technology, like its hiring platform, “Ava Cado,” Boatwright tells Fortune. If you’re a fan of bowls, tacos, and burritos, there’s good news: there might be a…

When children of wealthy families reach adulthood, they often benefit from the largesse of parents in the form of a trust fund. It’s another way they get a leg up on less affluent peers, who may receive nothing at all — or even be expected to support their families. But what if all children — regardless of their family’s circumstances…

Chime Financial on Monday kicked off the roadshow for its much anticipated IPO that could value the neobank at roughly $11 billion, a more than 50% drop from its $25 billion valuation in 2021. Chime is scheduled to begin trading on the Nasdaq on Thursday, June 12.   The impending IPO will offer 32 million shares at a price range of…

Research estimates that 200 million people in the U.S. rely on tap water contaminated with PFAS, or forever chemicals. This class of chemicals includes more than 9,000 potentially hazardous synthetic compounds linked to cancer and endocrine disruption—and they have become ubiquitous, lurking in everything from non-stick pans to plastic food containers and even beer. PFAS have earned the nickname forever…