Google boss says trillion-dollar AI investment boom has 'elements of irrationality'

Google CEO Sundar Pichai has commented on the growing concerns surrounding the artificial intelligence (AI) bubble, echoing sentiments shared by industry experts. The discussion gained momentum after OpenAI CEO Sam Altman indicated that it was acceptable to address the issue. Pichai's remarks reflect a broader acknowledgment within the tech community about the potential risks associated with inflated valuations in the AI sector.

A judge has ruled that Meta does not hold a monopoly following its acquisitions of Instagram and WhatsApp. This decision allows the parent company of Instagram to avoid the potential breakup of its business. The ruling comes after a lawsuit filed by the Federal Trade Commission (FTC) in 2020, which accused Meta of maintaining monopoly power in the market.

The European Union (EU) has identified Amazon and Google as 'critical' technology providers for the finance industry. This designation reflects the significant role these companies play in providing essential services and infrastructure to financial institutions across Europe. The EU's recognition underscores the increasing reliance on major tech firms in the financial sector, particularly as digital transformation accelerates.

Google has launched its highly anticipated Gemini 3 AI, marking a significant milestone with its rapid integration into Google Search. This rollout reflects the company's strategic intent to lead in the artificial intelligence sector, showcasing its commitment to innovation and technological advancement.

Cloudflare has issued an apology following a significant outage that affected major platforms, including X and ChatGPT. The web infrastructure company acknowledged the disruption and expressed regret to its customers and the broader internet community. This incident highlights the vulnerabilities in the infrastructure that supports these widely used services.

Funding has been allocated for the establishment of 40 Warm Spaces during the winter months. These centers aim to provide warmth and additional support to individuals facing difficulties with energy bills, ensuring that vulnerable populations have access to necessary resources during colder weather.

Alphabet Inc. has been upgraded from 'hold' to 'buy' by Loop Capital, reflecting a growing optimism on Wall Street regarding the company's prospects. This upgrade is seen as a response to the increasing confidence in the artificial intelligence sector, which is expected to drive growth for Alphabet and its subsidiary, Google.

Chancellor Rachel Reeves is contemplating both tax increases and spending cuts as part of the upcoming Budget scheduled for November 26. This decision comes amid ongoing discussions about fiscal policy and economic management in the country. The Chancellor's proposals are expected to address various economic challenges and set the financial direction for the government in the coming year.