Forbes Daily: Warnings Of A Bitcoin ‘Death Spiral’ As Price Continues To Drop |
Despite little fanfare, Tesla is gearing up for the biggest model rollout in the company’s history later this year. The timing couldn’t be worse.
Elon Musk’s firm is finally bringing the electric Semi to the market, even as federal support for electric vehicles dries up. While U.S. consumers are expected to purchase more than 1 million new EVs this year, demand for electric Class-8 semis will likely be just a fraction of that volume.
Shipping company DHL and PepsiCo are among Tesla’s early customers for the trucks, as corporations aim to lower carbon emissions. Still, the economic equation has changed for companies, as electricity costs have spiked.
Bitcoin has wiped out the gains sparked by President Donald Trump’s 2024 election win, plummeting to as low as $72,222 Wednesday afternoon. While some are optimistic on the token’s medium- and long-term outlook, investor Michael Burry, credited with predicting the 2008 housing crisis, warned that bitcoin’s dip could create a “death spiral” for companies that have bet big on the currency.
Google parent Alphabet exceeded expectations in its fourth-quarter earnings, boosted by soaring demand for its AI products as annual revenue topped $400 billion for the first time. The company’s stock has skyrocketed 70% in the last six months, and Alphabet became the fourth company to ever reach a market capitalization of $4 trillion in January.
Shares of software firms like Oracle and Adobe tumbled shortly after trading opened Wednesday, as Anthropic released new AI tools for its Claude chatbot that could automate tasks offered by the firms. Anthropic said its new plugins can generate financial statements, assess non-disclosure agreements, as well as review contracts, legal briefings and build financial models.
January was a sluggish month for hiring, with private payrolls increasing by a fewer-than-expected 22,000 jobs, according to payroll processing firm ADP. The report is........