In other news, Nvidia's stock price surged following a strong earnings report, showing high demand for its AI chips. Rivian employees are anxiously waiting to find out if they've been laid off, and there are concerns about the future of dining out. The bond market is showing signs of trouble, and hedge funds are betting on Amazon and Microsoft. Meanwhile, lawsuits over digital piracy continue to plague internet companies, and Google employees are mocking the company's numerous AI models and names.
Key takeaways:
- Mergers and acquisitions (M&A) are showing signs of a comeback, with Capital One, Truist, and Walmart announcing acquisitions totaling $53 billion this week.
- Nvidia's stock price has skyrocketed after a blowout earnings report shows a surge in demand for its AI chips.
- Rivian workers have been waiting all night to find out whether they've been laid off, marking the third time Rivian has cut its head count in the past two years.
- Amazon and Walmart are facing legal issues over their points-based attendance system, with fired workers accusing the companies of violating their employment rights.