Dollars & Sense with Pam Cook: Gmail’s Anniversary and the $852 Billion AI Race

KTVU anchor Pam Cook dives into the biggest business stories of the day: The Anniversary of Gmail Google launched Gmail on April 1, 2004, a move that was initially mistaken for an April Fool’s joke due to its then-unprecedented 1GB of storage. Market Reactions and Nike’s Forecast Nike stock dropped by 14% following a disappointing forecast that included a projected 20% sales decline in China. Federal Spending on Retirees A report from the Penn Wharton Budget Model reveals the federal government spent $2.7 trillion on Americans aged 65 and older last year. Surging Mortgage Rates Mortgage applications have declined as the 30-year fixed rate average jumped to 14.65%, marking a seven-month high. Lucid Motors Safety Recall Lucid Motors is recalling 4,000 Gravity SUVs due to improperly installed seatbelts in the second row that may break during a crash. Threats Against US Tech Companies Iranian military officials have issued threats to attack 18 US tech companies with Middle Eastern operations, including Nvidia, Apple, Microsoft, and Google. OpenAI’s Massive Valuation Boost OpenAI reached a valuation of $852 billion after a new funding round raised $122 billion from investors like Amazon, Nvidia, and SoftBank. Oracle’s AI Transition and Layoffs Oracle is reportedly laying off thousands of employees globally as it pivots its focus and capital toward AI development. Learn more about your ad choices. Visit podcastchoices.com/adchoices