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The Latest Breaking News from Fortune

Nvidia's Jensen Huang didn't feel the sharp end of the selloff—he offloaded $360M in stock before shares declined

From July to the time of writing, the average value of Huang's daily sale was $14.44 million.

Fortune

MIT economist: Markets have overestimated AI-driven productivity gains

The promise of an AI-driven productivity boom is music to everyone’s ears—but it has been overestimated.

Fortune

The youngest CFO in the Fortune 500 was set to take over his family's $21 billion chicken empire. Now his future is in doubt

For 89 years Tyson Foods was a family affair—but nobody could protect scion John Randal from his worst instincts.

Fortune

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‘The Godmother of AI’ says California’s well-intended AI bill will harm the U.S. ecosystem

'I am not anti-AI governance—but SB-1047 falls short of standards,' writes Fei-Fei Li.

Fortune

The 5 reasons behind Monday’s global stock market rout

"The ‘Wall of Worry’ certainly has a broad enough foundation currently,” Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers, said.

Fortune

An EV charging company will penalize drivers who take more than they need

Once batteries reach 85%, the cord will shut off automatically, and loiterers will be charged 40 cents-a-minute.

Fortune

How to survive the stock market bloodbath, according to financial advisors

On the worst day in stock markets in nearly two years, financial advisors say: “Stop freaking out and just stay in."

Fortune

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U.S. to ban Chinese software in self-driving cars amid national security fears

Chinese-made autonomous vehicles have driven 1.8 million miles in California alone since 2017.

Fortune

Elon Musk revives feud with OpenAI’s Sam Altman—‘the Emperor has no clothes’

In a lawsuit filed Monday, the Tesla boss alleged OpenAI abandoned its goal of helping humanity in favor of making money.

Fortune

An emergency Fed rate cut of 75 basis point is needed now, Wharton’s Jeremy Siegel says

Another cut of 75 basis points should come at the Fed’s next meeting in September, he added.

Fortune

Nvidia challenger Groq just raised $640 million for its AI chips. Its college dropout CEO says a viral moment was 'a game changer'

The startup, now worth $2.8 billion, develops chips that specialize in speeding up AI "inference" and offers the compute power through its own AI cloud service.

Fortune

Women will soon have more money than men for the first time in history—and they’re following the MacKenzie Scott and Melinda Gates playbook

The unprecedented transfer of wealth to women is projected to reach $30 trillion in the next decade—and it will change the face of philanthropy.

Fortune

The global market meltdown just sent Wall Street’s ‘fear gauge’ to a 4-year high

“[T]his market volatility is mostly a global carry trade unwind and a reevaluation of the AI hype,” Jim Smigiel, chief investment officer at SEI, argued Monday.

Fortune

Steve Jobs was wrong. Finding work that you love might be the worst thing you can do

The pressure to love your work has been heating up since the seminal 2005 commencement speech at Stanford University by late Apple founder Steve Jobs

Fortune

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Exclusive: Savvy Wealth closes Series A at $26.5 million

Savvy has raised $15.5 million in an additional round led by Canvas Ventures, closing the startup’s Series A at $26.5 million, Fortune can exclusively report. Thrive Capital, Brewer Lane Ventures, Index Ventures, The House Fund, and Alumni Ventures, all existing investors, also participated in the round.

Fortune

Powell faces a market mutiny if he doesn't make a September rate cut—Wall Street has 'locked in' timings after unemployment concerns

"The bottom line is that the weaker-than-expected July employment report led us to change our baseline expectation for the first Fed to September."

Fortune

Rolls-Royce employees to benefit from stunning turnaround as it hands out nearly £30 million of company shares

Rolls-Royce employs approximately 42,000 people, all of whom will receive a piece of the company as its business booms.

Fortune

Meet this year's Fortune Global 500

Walmart sits at the top of Fortune's list of the world's largest companies by revenue. Amazon is No. 2. Saudi Aramco, at No. 4, is the most profitable.

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Fortune

How India's fast-growing middle class propelled HDFC Bank into the Global 500

After a recent merger, HDFC has 93 million customers and a huge footprint in mortgages, checking, and savings.

Fortune

Rich, western countries face a stark choice: 6-day workweeks or more immigration, top economist warns

One of the world's foremost economists, Lant Pritchett, has a plan.

Fortune

As AI gobbles electricity, is now the time to buy unloved utility stocks?

Compared to the pricey stocks of Big Tech players like Nvidia and Microsoft, energy and electricity stocks are an affordable way to play the AI boom.

Fortune

Work-life balance is a 'gauntlet' for women, Ellevest founder Sallie Krawcheck says

Sallie Krawcheck has held a variety of top jobs at Wall Street titans like Sanford C. Bernstein, Smith Barney, Merrill Lynch, and Bank of America.

Fortune

Gen Z is going sober. It's changing the alcohol industry

As Gen Z cuts down on alcohol, NA beer sales are soaring.

Fortune

Luxury gyms are changing how we exercise—and how we live

Gyms like Life Time charge high membership fees and require huge spaces. But they pitch consumers on a holistic lifestyle that keeps them coming back.

Fortune

Breaking took decades to make it from New York’s streets to the Paris Olympics. Despite a big sporting debut, its future still hangs in the balance

“Having that Olympic stamp for any sport changes the game of play,” an expert told Fortune. But what will breaking's Olympic future look like?

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