Economy

Tech companies' AI race
Tech giants have lost $900 billion in market value

Amazon, Google and Microsoft have together lost about $900 billion in market value after they announced that they plan to spend $660 billion on AI during the year. This is reported by the FT.

Meta also announced that the company is doubling its AI investments to $135 billion. The stock initially rose, but then followed the broader tech market downwards.

The costs of data centers and special chips are increasing sharply, which worries investors despite the companies reporting higher revenues.

- AI bubble fears are returning. Investors are taking a short break from tech, and nothing the companies say really matters, says Brent Thill, an analyst at Jefferies.

Apple, which has chosen to stay out of the AI ​​investment, has fared best and its stock has risen 7.5 percent after the report.

Streaming war
US investigates Netflix's actions in Warner deal

The US Department of Justice is investigating whether Netflix tried to limit competition in connection with the planned acquisition of Warner Bros Discovery studios and the streaming service HBO Max. This is shown by documents obtained by the Wall Street Journal.

The department's questions about how Netflix competes with rivals indicate that the authority is examining whether the planned deal could consolidate the company's position in the market or lead to a future monopoly, the newspaper writes.

Netflix's rise was somewhat dampened after the report and the stock closed 1.6 percent higher for the day.

Trump's USA  Health policy
FDA acts against the copycat - Novo's depositary receipts rose in after-hours trading

The US drug agency FDA will take "strong action" against unapproved obesity drugs - including Hims & Hers, which has launched a copy of Novo Nordisk's Wegovy pills, according to a press release.

– The measures are intended to protect consumers from drugs whose quality, safety or efficacy the FDA cannot verify, says FDA Commissioner Martin A Makary in a statement.

Legal action may await actors who manufacture, distribute or market unapproved obesity drugs, the agency writes.

Hims & Hers plunged double digits in after-hours trading on the news, while Novo Nordisk's US depositary receipts rose 4.5 percent.