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The Latest Breaking News from Fortune

CEOs are making the business case for AI—and dispelling talk of a bubble

Also: All the news and watercooler chat from Fortune.

Fortune

You don’t need to have fun at work—take it from NBA head coach Joe Mazzulla: ‘Fun is a cop-out sometimes when things aren’t going well’

The famously intense Mazzulla was fielding a question about “fun” from a child reporter: “I struggle with that, to be honest with you.”

Fortune

Alex Karp claps back at Wall Street critics who think he's an 'arrogant prick': 'If you're right a lot, maybe exerting that you're going to be right tomorrow is pretty important'

Karp argues extreme confidence—checked by a “painfully flat” internal culture—is the only way to resist the “bailout culture” of modern corporate America.

Fortune

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How two leaders used design thinking and a focus on outcomes to transform two Fortune 500 giants

Phil Gilbert and Tony Bynum, speakers at the Fortune Brainstorm Design conference in Macau, worked to transform IBM and Northwestern Mutual, respectively.

Fortune

Should form always follow function? Architect Ole Scheeren isn’t sure: ‘We think of buildings as living organisms’

“When form follows function, architecture … offers no more than is asked of it,” architect Ole Scheeren said during Fortune Brainstorm Design on Dec. 2.

Fortune

Bill Gates decries ‘significant reversal in child deaths’ as nearly 5 million kids will die before they turn 5 this year

The Gates Foundation rings the alarm on the century’s first reversal in progress to save the world’s poorest children, following cuts to international aid.

Fortune

Bitcoin bounces back more than 10% after brutal week

The biggest cryptocurrency gets a big lift from Vanguard’s surprise embrace of crypto ETFs

Fortune

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Inside Silicon Valley’s ‘soup wars’: Why Mark Zuckerberg and OpenAI are hand-delivering liquid lunch to poach AI talent

Mark Zuckerberg’s soup is hand-cooked. OpenAI’s soup comes from a high-end Korean restaurant. It’s soup for the AI soul.

Fortune

Bank of America predicts an ‘air pocket,’ not an AI bubble, fueled by mountains of debt piling up from the data center rush

“Is this 2000? Are we in a bubble? No,” BofA’s strategy chief Savita Subramanian said. “Will AI continue in unfettered leadership? No.”

Fortune

Alex Karp credits his dyslexia for Palantir’s $415 billion success: ‘There is no playbook a dyslexic can master … therefore we learn to think freely’

The Palantir chief says his inability to follow traditional learning patterns forced him to innovate, fueling both his unconventional politics and the company’s explosive growth.

Fortune

Scott Bessent calls the Giving Pledge well-intentioned but ‘very amorphous,’ growing from ‘a panic among the billionaire class’

“When you see that people have a stake in the system, they don’t want to bring the system down,” the Treasury secretary argued at the DealBook Summit.

Fortune

Dave’s Hot Chicken is placing broad bets on AI to give the restaurant chain an edge in the chicken wars

Dave’s Hot Chicken has ramped up investments on AI, including at the drive-thru, mobile ordering, food delivery, and even at the french fry station.

Fortune

IBM CEO warns there’s ‘no way’ hyperscalers like Google and Amazon will be able to turn a profit at the rate of their data center spending

The profits needed to justify massive data center spending don’t add up, said Arvind Krishna.

Fortune

Scott Galloway got mostly B’s and C’s in high school, never studied for the SAT, and had to try twice to get into UCLA. Now he’s worth $150 million

“It’s worked out for all of us,” Galloway said.

Fortune

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Fortune

While Billie Eilish slams non-philanthropic billionaires, this CEO says telling people what to do with their cash is ‘invasive’ and to ‘butt out’

William Stone has an estimated net worth of $3.8 billion and has donated millions to his hometown—but he says billionaires have the right to donate anonymously, if at all.

Fortune

Designer Kevin Bethune: Bringing 'disparate disciplines around the table' is how leaders can 'problem solve the future'

“Collaboration is the currency that informs future innovation,” said Bethune, the founder of dreams • design + life, at Fortune Brainstorm Design.

Fortune

Scott Bessent is defiant on whether tariffs are a tax, demands Democrats work to cut actual taxes instead

Saying that some Democrats had walked into his “bear trap,” the Treasury secretary urged them: “Join me and cut taxes, and that will be disinflationary.”

Fortune

Tony Cuccio started with $200 selling beauty products on Venice Beach. Then he brought gel nails to the masses—and forged a $2 billion empire

Cuccio, 71, says he makes $100 million a year.

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Fortune

Bitcoin’s biggest booster Michael Saylor fights to stave off an $8 billion collapse and being the first major crypto domino to fall

A rule change could force Saylor's company to sell some of its $650 billion holdings—but crypto veterans say Strategy will be just fine.

Fortune

Microsoft AI's design head wants her team to be AI-native by the end of the fiscal year

Danzico noted that she helped put together an in-house AI course for her team's 200 employees, to a "tremendously positive" positive response.

Fortune

Donald Trump says national debt is ‘peanuts’ compared with tariff income, which will pay dividends—but the math isn’t adding up

A $2,000 dividend for each citizen would increase the deficit by $6 trillion, according to one estimate, roughly twice as much as Trump’s tariffs are estimated to raise.

Fortune

Gen Z grads in the U.K. are earning 30% less than millennials did—new data shows the degree payoff is collapsing

The promise of a high-paying graduate job is slipping away for Gen Z as pay premiums plummet by half in the U.K.

Fortune

Former Citadel employees raise $17 million for Fin, a global stablecoin app ‘without all the complexity’

The startup aims to allow businesses to conduct big cross-border transactions in cheap and rapid fashion.

Fortune

L’Oréal CHRO cut her teeth at luxury brands Chanel and Kiehl’s. Like Walmart’s CEO she says the secret to her success was always saying yes

Like Walmart’s CEO, the L’Oréal exec says the secret to her success was always saying yes—to grabbing coffee, taking notes, moving abroad.

Fortune

China does not need Nvidia chips in the AI war — export controls only pushed it to build its own AI machine.

If the U.S. wants to lead in AI, chip controls are not the answer.

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