Tech giants dominate business news as AI competition intensifies, while shipping disruptions and retail restructuring reshape traditional industries, alongside growing wealth inequality concerns.

Micron emerging as potential AI memory powerhouse: Wall Street analysts project Micron could become more profitable than any U.S. company except Nvidia and Google, driven by astronomical prices Big Tech pays for AI memory components as demand for AI infrastructure skyrockets.

Media mega-merger underway: Tech scion David Ellison is close to completing a merger combining CBS News with CNN, bringing together a legacy broadcaster and 24-hour cable news network under one roof amid industry consolidation.

Saks bankruptcy exit and luxury rebranding: Retailer emerges from bankruptcy as Exemplar Luxury Group, abandoning non-core businesses to focus exclusively on high-end department store shopping in shifting retail landscape.

AI capturing advertiser attention at Cannes Lions: Marketers grapple with how to influence AI chatbots and stand out to algorithms, marking a fundamental shift in advertising strategy and target audience composition.

Dollar hits 13-month high despite Trump concerns: Foreign investors overlooked administration worries to drive currency to highest levels in over a year, buoyed by AI boom prospects and Federal Reserve rate increase expectations.

Shipping threats in Strait of Hormuz jeopardize recovery: Renewed strike attacks on vessels threaten to reverse shipping industry gains, occurring just as traffic through critical waterway reached highest levels since U.S.-Iran conflict began.

Google restricts Meta's Gemini AI access: Google limited Meta's use of its Gemini AI models after the social media company requested more computing capacity than the rival tech group could provide, intensifying competitive AI landscape.

Wealth inequality stark in online communities: The 'Almost Homeless' Subreddit reveals widening gap as billionaire class grows richer, with ordinary people sharing survival tips for living with minimal resources.

China builds world's fastest supercomputer without U.S. GPUs: LineShine supercomputer achieved top ranking globally while defying American technology restrictions, marking significant technological breakthrough in geopolitical AI competition.

Black middle class employment gap widens despite administration promises: Four Black women with nine combined degrees lack steady paychecks, illustrating how Trump administration policies have deepened employment inequality despite 'Black jobs' rhetoric.