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The Latest Breaking News from Fortune

Bitcoin whales and ETFs are baling out of the market; UBS warns: ‘Crypto is not an asset’

“We see few bullish indicators that suggest we may be approaching the bottom,” Jefferies analyst Andrew Moss says.

Fortune

Software selloff giving you déjà vu? We’ve been here before, says Deutsche Bank, when the dotcom bubble began to burst

“Interestingly, that pattern echoes what we saw in 2000 as the dotcom bubble started to burst,” Deutsche Bank’s Henry Allen wrote. “Equities started to fall from March 2000 as tech stocks saw significant declines.”

Fortune

Disney's Bob Iger achieves a key feat for any outgoing CEO: giving his successor a clean slate

Also: All the news and watercooler chat from Fortune.

Fortune

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When the music stops: the unravelling of AI companies’ flawed valuations

Right now, we’re already slipping into the Trough of Disillusionment and when the AI bubble bursts, the flawed valuations will be exposed.

Fortune

Gen Z’s latest status symbol is running a marathon—and it’s terrible news for Gucci, Louis Vuitton, and Hermès

“I feel like saying that you ran—or that you run, or that you’re going to run—the New York City Marathon is huge clout in New York,” one influencer said.

Fortune

Top analyst Tom Lee on gold's black swan risk: Elon Musk becoming 'the new central bank'

"It all fits in a swimming pool, all the gold in the world," the Fundstrat head of research said. Plus, it's "extraterrestrial."

Fortune

OpenAI’s new model leaps ahead in coding capabilities—but raises unprecedented cybersecurity risks

Why OpenAI’s latest coding breakthrough is forcing the company to rethink how—and how fast—it can deploy its most powerful models.

Fortune

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Rocket CEO says U.S. mortgage industry is a 'tale of two cities.' His booming business shows a broader reality for American homebuyers

“Mortgage rates dropped to the lowest that they've been in the past three years,” Varun Krishna said, “and Rocket was right there to capitalize.”

Fortune

Gen Z is rebelling against TikTok USA by installing another app—founded by an Oracle alum

TikTok USA isn’t just (arguably) a tool of corporate power, it doesn’t seem to work as well as the old TikTok.

Fortune

Crypto market in free fall as Bitcoin plunges below $70,000 while shares in Coinbase and Circle tumble

Bitcoin holder Strategy is also taking a beating as prices sink to 2024 levels.

Fortune

Tech giants are shelling out up to $400K for AI evangelists to defend against surging American skepticism

Some firms are willing to pay high salaries for communications directors as Americans grow wary of AI.

Fortune

Hey Alexa—Amazon may be teaming up with OpenAI. Here’s why that matters

Amazon had been using a mix of its own models and those from OpenAI rival Anthropic to power Alexa+. Will a pivot to OpenAI's tech finally deliver an updated Alexa that wows users?

Fortune

Metals are the new oil, JD Vance pitches to America: ‘There’s no realer thing than critical minerals’

Trump officials are pitching a new framework to think about raw minerals. It’s not actually new.

Fortune

Forget a degree—$30 billion defense startup Anduril will fast-track your job application if you can win its AI drone-flying contest

Anduril founder Palmer Luckey admits he likes to hire people with experience off the beaten path—and he’s now scouting new talent via a drone-flying contest.

Fortune

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Understanding corporate leaders' muted Minnesota response: the example of Disney, Florida and conservative retaliation

The Minnesota CEO letter is a window into a broader shift.

Fortune

Nestlé’s CEO drinks 8 coffees a day, but says Gen Z staffers are his secret to staying sharp by ‘learning constantly’

In his company’s turnaround effort, Nestlé CEO Philipp Navratil is drinking twice as much coffee as the average American—while admitting it’s Gen Z workers who keep him intellectually alert.

Fortune

OpenAI’s Sam Altman says his highly disciplined daily routine has ‘fallen to crap’—and now unwinds on weekends at a ranch with no cell phone service

The new father is working out how to balance business and the “significantly underhyped” experience of raising a child.

Fortune

Michael Lewis and Tom Lee hold court on the $1 trillion software-stock carnage: ‘I think fear is not a bad thing to be long right now’

90% of stocks go to zero, and the best retail traders are dead.

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news in one place.

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Fortune

ChatGPT’s market share is slipping as Google and rivals close the gap, new app-tracker data shows

ChatGPT’s app market share has plummeted from 69% to 45% in a year as Google’s Gemini gains ground—potentially complicating OpenAI’s widely anticipated IPO.

Fortune

Trump is giving the U.S. economy a $65 billion tax-refund shot in the arm, mostly for higher-income people, BofA says

“The consumer divide is about to get deeper,” BofA senior U.S. economist Aditya Bhave wrote on Wednesday.

Fortune

I'm a 25-year-old founder who loves robots but too many humanoids are militant and creepy-looking. Things need to change—just look at Elon Musk

Who’s raising our robots? Teaching social norms in the age of humanoid robots.

Fortune

Michael Lewis reveals he’s got a deal to write a Sam Altman book—when ChatGPT is ready to write a rival draft

Altman admitted over dinner that ChatGPT wasn’t nearly advanced enough, Lewis claimed. “He said, ‘It’d be a really bad book.’”

Fortune

OpenAI launches Frontier—and potentially redraws the enterprise software map

OpenAI’s new enterprise platform lets companies build and manage agents that sit on top of existing software, blurring the line between partner and competitor.

Fortune

Activist investors are more dangerous to CEOs than ever. Here are 3 ways to safeguard your leadership

Activism thrives on corporate uncertainty and increasingly leverages a fast-changing media environment to exert pressure.

Fortune

Uber has appointed a new CFO—its third in three years

The company's latest finance shake-up comes as it doubles down on robotaxis and faces fresh questions about its long-term AV strategy.

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