The Latest Breaking News from 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 · Aug 6, 2024

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 · Aug 6, 2024

‘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 · Aug 6, 2024

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 · Aug 5, 2024

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 · Aug 5, 2024

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 · Aug 5, 2024

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 · Aug 5, 2024

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 · Aug 5, 2024

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 · Aug 5, 2024

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 · Aug 5, 2024