Wikipedia Co-Founder: AI Bots Costing Us a Lot of Money

Stocks rose as Bitcoin experienced a notable rebound, climbing back above $90,000 after a significant selloff that had previously erased nearly $1 billion in leveraged bets. This recovery was highlighted during the U.S. market close coverage on Bloomberg Television, where analysts discussed the implications for investors and the broader market.

Dell CEO Michael Dell announced a $6.25 billion initiative to provide 25 million American children with $250 each to start investment accounts, building on the earlier 'Trump accounts' initiative linked to President Donald Trump's One Big Beautiful Bill Act. This announcement was made during an appearance on Bloomberg The Close.

Sanjay Bhakta, the chief product and technology officer at Condé Nast, announced the company's intention to leverage Amazon's 'out-of-the-box' capabilities as they transition from on-premises solutions to cloud-based services during an interview on Bloomberg Tech with Ed Ludlow.

Luma AI, co-founded by Amit Jain, has announced the opening of its new offices in London, marking a significant step in its international expansion strategy. During an interview on Bloomberg Tech with Caroline Hyde, Jain emphasized the importance of Luma's video capabilities in the pursuit of artificial general intelligence (AGI).

Swami Sivasubramanian, vice president for Agentic AI at AWS, discussed the transformative impact of new AI 'frontier agents' during an interview on Bloomberg Tech, highlighting how these agents are reshaping software development at Amazon.

Amazon is embracing the complexities of artificial intelligence (AI) by empowering its employees with advanced AI tools, as stated by Colleen Aubrey, senior vice president of AWS Applied AI Solutions, during an interview on Bloomberg Tech. This approach reflects a commitment to integrating AI into the company's operations and culture.

A federal investigation has been launched into Bitmain Technologies Ltd, a major Chinese manufacturer of Bitcoin-mining machines, to determine if its products pose a national security threat to the United States. This scrutiny follows the sale of 16,000 mining machines to a venture backed by Donald Trump's sons, raising alarms among security experts like David Feith from the Hudson Institute.

Shares of American Bitcoin Corp., co-founded by Eric Trump, plummeted by over 50% within a half-hour on Tuesday, resulting in multiple trading halts as reported by Monique Mulima on Bloomberg Television.