Bloomberg Tech

The stock rally driven by the exuberance surrounding artificial intelligence is widening beyond the tech industry, defying naysayers and raising concern about an overbought market.

Microsoft Corp. ended at a record-high close on Thursday, becoming the third mega-cap technology firm after Nvidia Corp. and Apple Inc. to scale new heights this year as the software giant races to introduce generative artificial intelligence features into its suite of products and services.

Alphabet Inc. is winding down its Google Domains business and selling its assets to Squarespace Inc., according to a statement Thursday.

Bitcoin’s share of total crypto market value is the highest in about 20 months, a sign of the cautious mood in digital assets.

Wall Street’s embrace of artificial intelligence poses acute risks to the US financial system and demands more congressional scrutiny, according to a key Democratic lawmaker.

Binance.US, the American affiliate of Binance Holdings founded by Changpeng Zhao, laid off an unspecified number of employees as the crypto firm prepares for what is likely to be an expensive legal battle with US regulators.

Multiple US agencies were compromised by a hacking campaign in which attackers have exploited flaws in a popular software tool to gather information from a range of victims.

Defaults are expected to rise among the riskiest companies, as central banks hold interest rates near peak levels while tighter lending conditions and elevated input costs weigh on borrowers, according to Moody’s Investors Service.

LGBTQ+ dating app Grindr repeatedly violated state and global privacy laws by collecting and retaining highly sensitive data including nude photos without clear consent, the company’s former chief privacy officer alleged in a wrongful termination lawsuit.

This year’s annual rebalancing of the FTSE Russell’s stock indexes, when companies are added or kicked out of the equity gauges, will be a headache for active portfolio managers.