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Wall Street recently criticised major tech firms for their AI spending, but Amazon, Microsoft, Meta, and Alphabet plan to invest even more, exceeding $200 billion this year. These companies are securing chips and building data centers to support AI, aiming for future profitability despite current high expenses.
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News and Media
The Reserve Bank of India's foreign exchange reserves decreased by $3.5 billion to $684.8 billion in the week ended September 25, primarily due to the central bank's dollar sales to prevent rupee depreciation. Foreign currency assets fell significantly while gold reserves saw a rise. Outflows from Indian stocks and bonds added pressure on the rupee.
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News and Media
Elon Musk's ownership of Twitter, now called X, has drastically shifted its political neutrality. Despite pledges for impartiality, Musk's posts and platform policies now favour Trump and his allies, suppressing opposing views and funding partisan efforts. His $120 million into America PAC supports Trump's campaign, drawing legal scrutiny.
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News and Media
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