Nvidia and Microsoft are building a supercomputer in the cloud

NVIDIA and Microsoft are collaborating on a new cloud-based AI-focused supercomputer, which they claim will be “one of the most powerful in the world” when complete. The new machine will leverage the supercomputing infrastructure of Microsoft Azure combined with NVIDIA GPUs, networking, and AI software. It’s set to contain ND- and NC-series virtual machines specifically…

Wall Street ignored Big Tech’s bloat during boom times. Now it’s ready to slice and dice.

Meta announced on November 9 it would be cutting 11,000 workers, or 13% of its total workforce, as revenue continued to slump. Justin Sullivan/Getty Images The tech sector has laid off 120,000 workers in 2022, including huge layoffs at Meta and Amazon. As tech companies’ stock has slumped, Wall Street now has leverage over companies. …

Gen Z and millennials are driving growth in the luxury-goods market, study shows

Chanel headquarters in Paris, France. Getty Images Gen Z and millennials are the largest drivers of the luxury-goods market, per Bain & Co. Gen Zers purchase luxury items three to five years earlier than millennials, the study found. The luxury-goods market is valued at more than a trillion dollars and is expected to withstand a…

Justin Bieber bought a Bored Ape NFT in January for $1.3 million that’s likely worth about $70,000 in the wake of the FTX collapse

Justin Bieber purchased a Bored Ape NFT for $1.3 million that’s now worth $70,000. Bellocqimages/Bauer-Griffin/ Getty Images Justin Bieber’s bought a Bored Ape NFT for $1.3 million in January. It’s now probably worth $70,000, according to NFT Price Floor. The 95% drop in valuation comes after Sam Bankman-Fried’s FTX collapsed and caused crypto prices to…

Biden’s administration just made it easier for student-loan borrowers to get rid of their debt in court

President Joe Biden delivers an opening statement during a news conference in the East Room of the White House on January 19, 2022. Chip Somodevilla/Getty Images The Education and Justice Department released new guidance on bankruptcy for student-loan borrowers. Borrowers previously had to meet a very strict standard to discharge their loans in court. The…

These 2 charts show how much more expensive Thanksgiving dinner is this year

Liliboas/Getty Images The average 2022 cost for a “classic” Thanksgiving dinner for 10 is $64.05, according to results from the American Farm Bureau Federation. That’s $10.74, or 20%, higher than what it was in 2021. Inflation is a reason for this rise; some stores are offering Thanksgiving deals to help. Thanksgiving is a week away,…

Politicians react to Nancy Pelosi’s announcing she will not run for Democratic leader: ‘There will never be another like her’

House Speaker Nancy Pelosi of Calif., acknowledges applauds from lawmakers after speaking on the House floor at the Capitol in Washington Thursday, Nov. 17, 2022. AP Photo/Carolyn Kaster Nancy Pelosi announced Thursday she will not be seeking re-election as House Democratic leader. Pelosi said “the hour has come for a new generation” to take on…

CarMax auto financing review: A one-stop shop for cars and loans online, with a wide range of borrowing amounts

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page. CarMax only offers financing on its cars. Carmax/Insider The bottom line: CarMax Auto…