Topic
spending
Business Meta shares fall 11% as investor frustration grows over $130bn AI spending plans
Meta shares fell 11% on Wednesday after Q2 results revealed a 14% profit drop despite 28% revenue growth. Investors balked at CEO Mark Zuckerberg's plan to spend $130bn-$145bn this year, mostly on AI. The company also announced plans to sell AI models to other businesses.
Technology Google's AI spending surges, pushing free cash flow to negative $5.9bn in second quarter
Alphabet reported negative free cash flow of $5.9bn in Q2 2026 as AI infrastructure spending surged to $45bn in the quarter. CFO Anat Ashkanazi said 60% of capital expenditure went to servers and 40% to data centres. CEO Sundar Pichai described the AI shift as 'early innings' and said the company remains disciplined on returns.
Finance India's Credit Card Market Grows 8x in Decade but Penetration Remains Low at 25%
A TransUnion CIBIL report reveals India's credit card market has expanded sharply over the past decade, with outstanding balances rising 8.3 times to Rs 3.1 lakh crore. However, penetration remains low at 25%, compared to over 60% in Colombia, UK, USA, and Hong Kong. New-to-credit additions have slumped to 8% of fresh cards, indicating limited expansion of the formal credit ecosystem.
E-Commerce & Marketplaces Rips Card-Pack App: Digital Packs for Physical Pokémon Cards Spark 6 Million Downloads
The Rips app, launched in October 2025, allows users to pay from $1 to $2,500 to open digital card packs for physical Pokémon, Basketball, or One Piece cards, with instant resale options. With over 6 million downloads, the platform features volatility settings and automatic sell-back after a week. The app is restricted to users aged 18 and older.
Business What Do Americans Spend on Housing? WIRED Survey Reveals Affordability Crisis Deepens
WIRED's 2026 reader survey of over 200 Americans reveals a severe housing affordability crisis. Nearly half of renters and a quarter of homeowners exceed the 30% income threshold. Median monthly mortgage for new buyers is $2,152; median asking rent is $1,579. The data indicates significant consumer financial stress with implications for housing markets and consumer spending.