Shares of Nvidia rallied to record highs on Wednesday, with the AI chipmaker’s stock market valuation hitting the $3 trillion mark and overtaking Apple to become the world’s second most valuable company.The latest rally in Nvidia comes as it prepares to split its stock 10-for-one, effective on June 7, a move that could increase its appeal to individual investors.The surge in Nvidia’s stock market value above Apple’s underscores a shift in Silicon Valley, where the company co-founded by Steve Jobs has domina ...

Wall Street titans BlackRock and Citadel Securities are throwing their financial muscle behind the launch of the Texas Stock Exchange — which plans to challenge New York-centric markets in a bid to attract global companies.The Dallas-headquartered bourse, which has raised about $120 million, plans to file registration documents with the Securities and Exchange Commission to start operating as a national securities exchange later this year, TXSE said on Wednesday.TXSE aims to attract listings of exchange-tra ...

Google’s longtime chief privacy officer will leave the company this fall and won’t be replaced — even as the Big Tech giant contends with a wave of leaks and user security concerns.Keith Enright, a 13-year veteran, was responsible for leading the team that safeguards user data and implements security policies across Google’s sprawling empire. He will reportedly exit in September.“After over 13 years at Google, I’m ready for a change, and will be moving on this fall, taking all that I’ve learned and trying s ...

Core Viewpoint - Disney and Florida Governor Ron DeSantis are nearing a $17 billion agreement that would facilitate the development of a fifth major theme park at Walt Disney World, following a settlement that ended their legal disputes [1]. Group 1: Agreement Details - The Central Florida Tourism and Oversight District, now overseen by DeSantis-appointed supervisors, has given initial approval for a new development agreement that will last for the next 15 years [3]. - Under the agreement, Disney is permitted to construct a fifth major theme park and two additional minor parks, such as water parks, over the next decade or two [3][4]. - Disney plans to increase its hotel capacity from nearly 40,000 rooms to over 53,000 rooms and expand retail and restaurant space by more than 20% [4]. Group 2: Obligations and Contributions - In return for the development rights, Disney is required to donate up to 100 acres of its 24,000-acre property for infrastructure projects controlled by the district [6]. - Disney must also allocate at least half of its construction projects to Florida-based companies and invest a minimum of $10 million in affordable housing for Central Florida [6]. Group 3: Background Context - The legal disputes between Disney and DeSantis were initiated after Disney opposed a Florida law known as "Don't Say Gay," which restricts discussions of sexual orientation and gender identity in early education [6][8]. - Following the takeover of the district by DeSantis appointees, Disney's previous agreements with the district were challenged, leading to a series of lawsuits that were ultimately settled in March [8][9].

Walmart is offering new perks for its hourly US workers, ranging from a new bonus plan to opportunities to move into skilled trade jobs within the company.The perks program announced Wednesday comes as the nation’s largest private employer says it’s seeing a decline in worker turnover. But Walmart, like other employers, faces a still-competitive labor market and increasing demands from its employees.Walmart’s new bonus plan for eligible part-time and full-time US store workers — including those in its pharm ...

McDonald’s was stripped of trademark rights to the “Chicken Big Mac” in the European Union after not using the name for five consecutive years, the region’s second top court said on Wednesday,The decision by the Luxembourg-based General Court was a partial win for Irish rival Supermac’s in its long-running trademark dispute with the Chicago-based fast food giant.“The evidence which was submitted by McDonald’s does not provide any indication of the extent of use of the mark in connection with those goods, in ...

Google parent Alphabet has poached Anat Ashkenazi from pharmaceutical firm Eli Lilly to serve as its next chief financial officer, the company announced Wednesday.Ashkenazi, 51, will take over the key role effective July 31 and replace Alphabet’s longtime CFO Ruth Porat. The Big Tech giant had announced nearly one year ago that Porat, 66, would be transitioning to a new role as the company’s president and chief investment officer.“We’re very pleased to have found such a strong CFO, with a track record of st ...

Google has reportedly slashed at least 100 jobs in its cloud-computing unit – the latest sign of an ongoing workforce shakeup at the Big Tech giant.The layoffs hit a variety of roles on in the cloud division, including staffers on the sales, engineering, operations, consulting and “go-to-market” strategy team, CNBC reported, citing internal messages.Some of the laid-off workers had recently contributed to preparations for the Google Cloud Next Conference in April, the outlet reported, citing people familiar ...

Google has confirmed that a massive leak of some 2,500 internal documents related to its search engine is authentic – and one expert said the trove shows that “Google tells us one thing and they do another” when it comes to its mysterious algorithms.The tech giant has been secretive about how its search engine works while wielding outsize influence over the flow of information, traffic and ad revenue online. Some details appeared to contradict past public statements by Google employees regarding which facto ...

Walt Disney will cut its investment in programming for traditional television networks “pretty dramatically” as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said Wednesday.Iger said linear channels such as ABC still serve as an important marketing tool and reach older viewers who are not watching series such as “Abbott Elementary” on Disney’s streaming platforms.Still, the goal is to “reduce pretty dramatically our investment in content specifically aimed at those traditio ...