SEE ABOUT THAT: The AI Industry Is Built on a Big Unproven Assumption

 

Benjamin Fanjoy/Bloomberg

Nvidia Shares Drop on Report of Google Challenge in AI Chips

Markets Wrap

US Stock Futures Hold Gains After Tech-Led Rally

Explainer

Why Fears of a Trillion-Dollar AI Bubble Are Growing

Trump Signs ‘Genesis Mission’ Order to Boost Innovation With AI

Trump Weighing Advanced Nvidia Chip Sales to China, Lutnick Says

Dan Bashakov/AP Photo

 

 

 

 

 

 

Russia Bombards Kyiv Hours After Trump Voices Hope for Ukraine Deal

In Trump-Putin Peace Gambit, Both Sides Bet on Lure of Business

2:33

Watch: What Came Out of Trump's Calls With Xi and Takaichi

Trump Moves to Preserve Xi Truce While Reassuring Ally Japan

Exclusive

China Asks Airlines to Extend Japan Flight Cuts Until March 2026

Trump’s Second Term

Questionable Investment BoomBBC LawsuitComey and James

Christian Monterrosa, Andrew Harrer/Bloomberg

James Comey, Letitia James Charges Dismissed by US Judge

The judge ruled that the prosecutor who brought the cases had been illegally appointed.

Listen (18:05)

Big Take: Inside Trump’s Retribution Campaign

Bloomberg Opinion

A Ukraine Plan That Would Actually Work

By Hal Brands, Columnist 

 

 

 

 

 

 

There's Already a Deal to Beat Dirty Fossil Fuels

By Lara Williams, Columnist

The 'Greenspan Put' Beats a Correction, Once Again

By John Authers, Columnist

How Long Can Mamdani Walk This Tightrope?

By Nia-Malika Henderson, Columnist

Dimas Ardian/Bloomberg

 

 

 

 

 

 

U.S. Leveraged Loans Under Strain as Buyers Yank Cash From Funds

Explainer

How the K-Shaped Economy Is Hurting Everyone But the Rich

Adrienne Tong/Bloomberg

 

 

 

 

 

 

 

 

 

 

 

 

The Big Take

Trump’s $21 Trillion Investment Boom Is Actually Short Trillions

Bloomberg Economics analysis shows real investment commitments closer to $7 trillion and many of those are in question.

Jeffrey Epstein

Epstein Files Bill PassesGuarding the FilesBanks Subpoenaed

Joe Schildhorn/Patrick McMullan/Getty Images

U.S. Renews Bid to Unseal Epstein, Maxwell Grand Jury Material

Newsletter: FOIA Files

FBI Deploys Police to Guard Facility Where Epstein Files Are Stored

Latest

3 min

JD Weighs at Least $1 Billion Bond Sale Linked to Health Unit

27 min

Indian Banks Consider Financing Non-Sanctioned Russian Oil Trade

27 min

Shein, Temu Should Be Banned in Europe Until 2028, Casino CEO Says

30 min

Pound Volatility Soars as Traders Hedge for UK Budget Turbulence

40 min

US to Meet Russians in Abu Dhabi as Moscow and Kyiv Trade Fire

40 min

Biggest Mini-Grid Firm Seeks $400 Million, Plans Revenue Surge

See all latest

In Focus

G-20War in UkraineThe AI RaceTrump’s Second TermUS StocksTrump Media Stock

Listen, Watch and Catch Up

Newsletter: Evening Briefing: Americas

Hope for a Fed Rate Cut Springs Eternal

Newsletter: Washington Edition

Trump Still Wrestling With His Own Plan to Fix Healthcare Costs

Listen (18:09)

Big Take: Checking the Math on Trump’s $2,000 Checks

Listen (27:33)

Zero: Climate Summits Are Working as Designed: Poorly

Listen (58:05)

Ray Dalio on the Five Forces Making This a Historical Moment

Bloomberg News Now

Listen to the latest: Russia-Ukraine Confrontation, Google's AI Chip Challenge, More

6:59

Updated 11 min ago

Most Active US Stocks

TSLA

417.78

6.82%

Follow

Tesla’s EU Regulator Denies the Carmaker’s Claim FSD Will Be Approved

GOOGL

318.58

6.31%

Follow

Anthropic Says Its New AI Model Is Better at Coding and Office Work

AMZN

226.28

2.53%

Follow

Amazon Data Center Tally Tops 900 Amid AI Frenzy, Documents Show

NVDA

182.55

2.05%

Follow

Nvidia Shares Drop on Report of Google Challenge in AI Chips

Bloomberg Film

76:10

Watch: Can't Look Away: The Case Against Social Media

Can’t Look Away: The Case Against Social Media

A documentary film explores the real-world consequences of tech companies’ digital practices.

Subscriber Only

Get the Markets Daily newsletter.

What's happening in stocks, bonds, currencies and commodities right now — and what will move them next.

Preview

Xiaomi Founder’s $13 Million Share Purchase Sparks Stock Rebound

The Three Days When BHP Tried to Crash a Copper Mining Mega Deal

Music Mogul Geffen Set for $500 Million From a Warner Bros. Sale

Exclusive

Apple Cuts Jobs Across Its Sales Organization in Rare Layoff

New Economy Forum 2025

Live Q&A: Where Asia Stands as US and China Redefine Global Trade in the Age of AI

AI Can Create Jobs If Leaders Prepare Workers, Jokowi Says

Greece PM Calls Parts of Peace Plan Over Ukraine ‘Problematic’

Singapore Edition Newsletter

Brace for Equity Pullback, Dollar Resilience: NEF Summit Takeaways

Your News

Follow Topics

Choose up to 12 topics to see the latest stories on your homepage.

Recommended

Regions

Sectors

• AI

  • SoftBank Group Shares Tumble on OpenAI Competition Worries

    
  • China’s AI Promise Lures Top Asia Fund Away From Korea, Taiwan

    
  • Nvidia Shares Drop on Report of Google Challenge in AI Chips

    
  • Taiwan Tycoon Backs $1.5 Billion AI Bet With Private Credit Fund

    
  • Alibaba Draws Mainland Buyers as AI Frenzy, Cloud Drive Outlook

    
• Energy

  • Indian Banks Consider Financing Non-Sanctioned Russian Oil Trade

    
  • Biggest Mini-Grid Firm Seeks $400 Million, Plans Revenue Surge

    
  • Opinion

    Jim Ratcliffe’s Chemicals Bonds Are Provoking a Bad Market Reaction

    
  • BII, FirstRand Form $150 Million Energy Transition Facility

    
  • Stegra Shareholder Hitachi Energy Rules Out New Cash for Startup

    
• Monetary Policy

  • UK Greens’ Populist Tilt Worries City With Disregard for Markets

    
  • Copper Gains on Supply Tightness, Rising Bets on Fed Rate Cut

    
  • RBA May Put Rate Hikes Back on Table in 2026, CBA’s Yeaman Says

    
  • Gold Steady After Fed Governor Remarks Raise Bets on US Rate Cut

    
  • Why Trump’s $2,000 Tariff Rebate Plan Is a Hard Sell With His Allies

    
• Crypto

  • Bitcoin Traders See Signs of Selloff Easing as Token Steadies

    
  • Binance Faces Lawsuit by Hamas Victims Under Anti-Terrorism Law

    
  • Novogratz’s Galaxy Digital ‘Experimenting’ in Prediction Markets

    
  • US Banks Show Across-the-Board Gains in FDIC Report

    
  • SPAC Stocks Are Back in Risky Financial ‘Turducken’

    
• Deals

  • JD Weighs at Least $1 Billion Bond Sale Linked to Health Unit

    
  • ABN Amro to Cut 5,200 Jobs by 2028 as Berard Updates Strategy

    
  • Pret A Manger’s Recipe for a Revival? Meal Deals and £13 Salads

    
  • Grab-Backed Super Bank Seeks Up to $186 Million in Jakarta IPO

    
  • Tokyo Gas Said to Plan Sale of Ginza Building for $191 Million

    
• Currencies

  • Pound Volatility Soars as Traders Hedge for UK Budget Turbulence

    
  • Developer Vanke’s Yuan Bonds Plunge as Debt Concerns Grow

    
  • Yuan’s Long-Term Hedge Costs Equalize for First Time Since 2011

    
  • IMF Set to Reclassify India’s FX Regime as Rupee Turns Volatile

    
  • Yen to Strengthen 10% in Coming Months on US Rate Cuts, Morgan Stanley Says

    
• Private Equity

  • Private Equity Firm Gaw Secures Last-Minute Loan Extension

    
  • Private Equity Firm PAG Makes a Big Contrarian Bet on China

    
  • Rowan Says People ‘Lost Their Minds’ Over Private Credit Fears

    
  • Morocco Hospital Giant Eyes $1.6 Billion Gulf Expansion

    
  • The Next Winners in PE’s Big 401(k) Push: Million-Dollar Lawyers

    
• Property

  • Family Office Mecca Run by Harlan Crow Lures Citadel, Kyle Bass

    
  • UBS’s China Property Optimist Now Foresees an Extended Slump

    
  • Julius Baer Warns on Profit After $186 Million Loan Charge

    
  • Canary Wharf Crisis Eases as Dimon Sends Bankers Back to Office

    
  • Dubai Property Frenzy Sets Developers on a $6 Billion Debt Spree

    

BETAWe're working to improve your Bloomberg.com experience. Share your feedback

Bloomberg Businessweek

Mario Tama/Getty Images

Park Service Union Movement Spreads to Grand Canyon, Joshua Tree

Employees in dozens of park units are organizing to fight attempts by the Trump administration to downsize the agency.

By Laura Bliss and Josh Eidelson 

 

 

 

 

 

 

More from this issue:

How an $11 Billion Beauty Company Built a Suburban EmpireThe Fight to Save the $2.7 Billion Botox EmpireThe Chatbot Delusions: Is AI Contributing to a Novel Mental Health Crisis?

The AI Industry Is Built on a Big Unproven Assumption

In addition to the projections about reaching artificial general intelligence and replacing millions of human workers, there’s the mundane matter of how long AI chips will last.

Target Needs More Than a Vibe Shift to Turn Its Business Around

The ailing retailer has lost its cheap-chic appeal. Can a new CEO get it back on its feet with his old boss next door?

What Might Be Inside the Epstein Files?

On this episode, we discuss why your Thanksgiving turkey may be cheaper this year and untangle the business dealings of the late Jefferey Epstein. 

Markets

Odd LotsETFsCryptoDeals

Bloomberg

Indian Banks Consider Financing Non-Sanctioned Russian Oil Trade

Pound Volatility Soars as Traders Hedge for UK Budget Turbulence

Gilts Riding Best Rally Since 2020 Run Into Budget Reality Check

Newsletter: Odd Lots

A Growing, Long-Term Risk to American Internet Giants

Newsletter: Markets Daily

Bitcoin’s Rout Was Brutal Even by Crypto Standards

Ray Dalio on the Five Forces Making This a Historical Moment

Listen: 58:05

Why America’s Cattle Ranchers Keep Getting Squeezed

Listen: 43:20

Odd Lots

Fed’s Collins on the Chances for Another Cut

Listen: 47:52

Tyler Cowen on Why AI Hasn’t Changed the World

Listen: 51:41

Ideas and Culture

Weekend NewsletterThe ForecastThe Interview

The Godmother of AI Didn’t Expect It to Be This Massive

Boomers Are Passing Down Fortunes — And Way, Way Too Much Stuff

Janet Yellen Says the US Is Undermining Its Economic Success

How Breathwork Became the New Meditation

Bloomberg Originals

44:01

The Infinite Explorer with Hannah Fry

Hannah Fry Visits Iceland’s Dramatic Geology

4:23

GLP-1s for Everyone

3:13

‘California Sober’ for the Holidays

48:00

An Optimist's Guide to the Planet

Reclaiming Water for an Increasingly Thirsty World

Space

Boeing Starliner Missions Cut After Botched Astronaut Flight

Space Race With China Drives Antenna-Building Boom in Arctic

SpaceX’s New Starship Booster Bursts Apart in Ground Test

Trump’s Revived NASA Pick, Isaacman, To Face New Senate Hearing

Technology

AICybersecurityScreentime

Na Bian/Bloomberg

JD Weighs at Least $1 Billion Bond Sale Linked to Health Unit

Stegra Shareholder Hitachi Energy Rules Out New Cash for Startup

Grab-Backed Super Bank Seeks Up to $186 Million in Jakarta IPO

Newsletter: Power On

Apple iOS 27 to Be No-Frills ‘Snow Leopard’ Update, Other Than New AI

Newsletter: Tech In Depth

Google’s Having the AI Build the UI in Latest Gemini Update

Wealth

UK Lawmakers Call for New Investor Visa as Wealth Exodus Deepens

Taiwan Tycoon Backs $1.5 Billion AI Bet With Private Credit Fund

The UK Is Probably Less Unequal Than You Think

Family Office Mecca Run by Harlan Crow Lures Citadel, Kyle Bass

Politics

UKEuropeMiddle EastAsia

Efrem Lukatsky/AP Photo

U.S. to Meet Russians in Abu Dhabi as Moscow and Kyiv Trade Fire

New Alcohol Stores to Open in Saudi Arabia for Some Non-Muslims

India to Make Air-to-Ground Weapon at Home with France’s Safran

about 3 hours ago

Taliban Says Pakistani Strikes in Eastern Afghanistan Kill 10

about 4 hours ago

South Africa’s Ruling Alliance Unlikely to Last, DA’s Zille Says

Explainers

Trump Is Dismantling the Education Department. What’s at Stake.

How US-Russia Peace Plan Would Carve Up Ukraine’s Territory

Why France’s Politics Are Broken — and What That Means for Its Economy

Why China Can’t Sort Out Its Property Market Mess

Industries

LegalEnergyHealth

Nathan Laine/Bloomberg

Europe Car Sales Keep Climbing as Automakers Tout Budget EVs

China’s Soybean Glut Spurs Surge in Cooking Oil Exports to India

Copper Gains on Supply Tightness, Rising Bets on Fed Rate Cut

Listen (25:41)

The Deal: Willow Bay

Newsletter: Business of Space

Hurdles Ahead for Bezos’ New Glenn Rocket

Green

New EnergyGreener LivingESG Investing

Waldo Swiegers/Bloomberg

BII, FirstRand Form $150 Million Energy Transition Facility

Deadly Floods Hit Southeast Asia as More Rain Forecast

The Climate Risk Engineers Who Prepare Companies Before Disaster Hits

Listen (27:33)

Zero: Climate Summits Are Working as Designed: Poorly

Watch (1:45)

An Optimist's Guide to the Planet Trailer

Pursuits

For UK Ticket Buyers, It’s Better to be Lucky than Rich

Is Food No Longer What Makes a Great Restaurant Great?

Cannabis Is In, Booze Is Out at This Year’s Thanksgiving Table

The Rise of Resistance Cinema in the Era of Trump

Economics

Inflation & PricesIndicatorsCentral Banks

Maria Feck/Bloomberg

Exports and Household Spending to Blame for Germany’s Stagnation

China Surge Blows Out Thai Trade Deficit to Widest Since 2023

Nigeria Seen Cutting Rates as Inflation Nears Tinubu’s Year-End Target

Newsletter: Economics Daily

The Fed’s Not Ready to Channel Greenspan in Betting on Tech Boom

Listen (32:59)

Bloomberg Surveillance TV: November 24th, 2025

CityLab

High-Rises Are Changing the Slovak Capital of Bratislava Beyond Recognition

Despite Star Architect’s Alleged Misconduct, New Harlem and Princeton Museums Shine

San Francisco Hotels That Echoed City’s Decline Sell for 75% Off

India’s Richest Family Powers Push for Green Space in Mumbai

Work & Life

Management & WorkEqualityBusiness of Sports

Husk Power Systems

Biggest Mini-Grid Firm Seeks $400 Million, Plans Revenue Surge

NBA Coach Billups Pleads Not Guilty to Poker Game Charges

Scaramucci Turns Bruising Setbacks Into $49 Life Lessons

3 days ago

Trump Want Ad Seeks ‘Deportation Judges’ to Aid in Crackdown

3 days ago

EU Pledges €7 Billion Toward Renewable Energy in Africa

Markets Magazine

Glenn Harvey for Bloomberg Markets

The Big Take

Why It’s Harder to Tell Gambling From Investing Nowadays

With a tap on your phone, bet on football, elections and the price a stock will hit just hours from now.

By Lu Wang 

 

 

 

 

More from this issue:

A Firebrand Investor Takes on Japan's Corporate ClubAfter the Lost Decades, A Country Finds ItselfYoung Japanese Investors Embrace Stocks

How to Play the Boom In Video Game Stocks

Electronic Arts’ privatization marks a watershed for the sector that could either extend its remarkable stock rally or reveal its limits.

Morgan Stanley’s Mike Wilson on Contrarian Calls And Conviction

The Wall Street star strategist explains why going against the crowd is his comfort zone.

Japan’s ‘Zombie’ Companies Begin to Disappear in Sign of Renewal

In agonizing decisions for owners, a once-protective society lets the market take its course