Stock market slides on strong jobs data as investors anticipate rate hikes, while AI productivity tools gain traction and data center investments surge globally.

The S&P 500 fell more than 2.6% on Friday, marking its worst one-day drop of the year and ending nine weeks of gains, as investors reacted to unexpectedly strong May jobs data that signaled potential interest rate increases ahead.

U.S. employers added 172,000 jobs in May, significantly exceeding estimates of around 80,000 gains, demonstrating economic momentum despite earlier concerns about labor market weakness in fall and winter months.

AI adoption among business leaders is accelerating, with CEOs and Harvard professors using AI twins to answer questions and attend meetings as a new productivity hack, reflecting broader workplace transformation.

Google is paying SpaceX $920 million per month for compute services, highlighting massive corporate spending on AI infrastructure and satellite-based computing resources.

Pakistan's Quantum Global Data Center (QGDC) announced a $230 million investment to develop the nation's largest data center, signaling international expansion in digital infrastructure amid global AI demand.

Chip sector stocks including Marvell and Micron tumbled as the industry experienced its worst day in six years, with investors cooling on momentum stocks following the strong jobs report.

Monterey Park voters approved the nation's first permanent data center ban, reflecting growing public resistance to computer warehouse expansion as communities grapple with rapid tech industry growth.

American consumer spending continues to prop up the economy despite rising prices eroding savings, though concerns about economic sustainability are mounting among households.

Reid Hoffman is departing Microsoft's board to focus on startup Manus in 'founder mode,' exemplifying a trend of venture leaders returning to hands-on entrepreneurship.

Sriram Krishnan is leaving his role as White House AI advisor, and the Trump administration is considering taking an equity stake in OpenAI, signaling shifting government relationships with AI companies.