Google is set to unveil advancements in artificial intelligence (AI) for its products at the annual I/O conference, aiming to counter Microsoft's growing influence in the $300-billion search advertising market. Under Project Magi, Google plans to enhance its search engine with generative AI technology, which could transform how consumers access information. Microsoft's Bing has gained US market share thanks to its integration of AI chatbots like ChatGPT. In response, Google is introducing new technology, such as Bard, a ChatGPT rival, and developing a more potent AI model called PaLM 2.

Electric vehicle startup Faraday Future raises $100 million in debt funding to support production and initial deliveries of its FF 91 Futurist vehicle, following multiple delays. The company plans to use the funds to accelerate production, develop its sales and service system, and achieve near-term ramp-up goals.

Investors are increasingly seeking insurance against a potential stock market crash, as demand for such protection hits multi-month highs. The three-month skew on the S&P 500 has risen to its highest level since December 2021, indicating a sense of unease among investors. However, history shows that heightened anxiety can actually bode well for stocks, as it may provide the fuel for a potential melt-up in the market.

Novavax is restructuring to cut costs and extend its cash runway, with plans to reduce annual R&D and SG&A expenses by 40% to 50% relative to the previous year and cut 25% of its global workforce. Despite a mixed Q1 report, the company expects full-year revenue of $1.5 billion (up or down $100 million), largely due to the success of its Covid vaccine, Nuvaxovid. Novavax is on track to deliver an updated version of the vaccine this fall, using a protein-based technology that appeals to people uncomfortable with mRNA vaccines. Positive Phase 2 results for other vaccine candidates are also expected to contribute to revenue growth.

Ryanair has signed a multi-billion-dollar deal with Boeing to acquire up to 300 Boeing 737 Max-10 aircraft, ending an 18-month dispute over pricing. Valued at over $40 billion at list prices, the deal includes 150 options and deliveries are scheduled between 2027 and 2033. The agreement is expected to boost the largest version of Boeing's 737 MAX, create over 10,000 new jobs, and support an 80% increase in traffic growth for Ryanair, from 168 million passengers to 300 million by March 2034.

U.S. stocks paused on Monday, struggling for direction due to disappointing earnings from Tyson Foods and Catalent, and a brief rebound in regional banks. Investors are now focusing on key inflation data set to release later this week.

Kenvue Inc. successfully closed its IPO on May 4, 2023, offering 198,734,444 shares at $22.00 each. Johnson & Johnson retains an 89.6% stake in the company, whose shares now trade on the NYSE as "KVUE." The IPO proceeds will compensate Johnson & Johnson for the transferred consumer health businesses.

After company executives suggested that the market may be reaching a bottom in conjunction with reporting its fiscal second-quarter results, shares of Micron Technology Inc. gained more than 7% on Wednesday.

On Tuesday, shares of Athletic apparel company Lululemon Athletica Inc. jumped after the company reported strong holiday-quarter sales and gave an annual outlook that beat expectations, suggesting wealthier shoppers are still purchasing yoga pants despite higher prices for essential goods.

In the most significant structural overhaul in Alibaba's history, the Chinese e-commerce giant on Tuesday said it would split its $220 billion empire into six business groups, each able to raise outside funding and go public.

Replacing co-founder Logan Green and setting the stage for a potential sale, Lyft Inc. (NASDAQ:LYFT) tapped board member David Risher as its new chief executive officer as the ride-hailing company struggles with competition from rival Uber Technologies Inc. and a battered stock price.

According to a memo sent to staff by Chief Executive Bob Iger, Disney (NYSE:DIS) will begin layoffs this week, the first of three rounds over the next two months, to reduce headcount by around 7,000 across the company.

In a sign that one of the developed world's most reluctant adopters of electric vehicles is finally shifting, there has been a noticeable increase in Teslas on Australian roads in recent months. 

One of the US's largest regional banks, First Citizens Bancshares inc., has agreed to buy Silicon Valley Bank, more than two weeks after the lender's collapse sent shockwaves through the banking system.

After Hindenburg Research disclosed a short position in Block, betting against its share price, and published a critical report on the fintech group run by former Twitter CEO Jack Dorsey, its stock tumbled 14.8% on Thursday and was down another 4% in Friday's premarket.