BIG TECH Panic: Saudi AI Splurge and Ford Recall Rattle Wall Street
— Nvidia-backed CoreWeave just announced a massive $23 billion plan to grow its AI data centers in 2025. Investors got spooked, dropping CoreWeave’s stock by 7%. Wall Street is worried about the risks of spending so much, so fast. This move shows how fierce the fight for AI dominance has become — and how quickly companies can burn through cash.
Saudi Arabia is throwing billions at AI chips after Biden relaxed some chip rules. Nvidia shares soared on news of a huge $600 billion tech and defense deal between Saudi Arabia and the US. The market clearly believes global demand for artificial intelligence will keep growing fast.
Ford is recalling almost 274,000 Expedition and Lincoln Navigator SUVs because of a brake problem that could cause crashes. This recall puts another spotlight on carmakers’ ongoing reliability issues as regulators keep a close watch.
Boeing landed a giant $200 billion jet order from Qatar — good news after recent troubles. At the same time, Accord Financial is cutting costs as economic worries linger, Tata Power plans big growth in India’s energy sector, and automakers like Nissan are laying off workers even though there’s now less tension between the US and China over trade.
