Tech Giants Bend to Washington, GPT-5 Drops, and Crocs’ $5B Meltdown
In today’s episode, tech heavyweights are lining up to please Washington—Amazon pledges $1 billion in cloud discounts, OpenAI offers enterprise ChatGPT to the federal government for $1, and Apple’s Tim Cook delivers gifts alongside new U.S. investments. OpenAI also unveils GPT-5, promising Ph.D.-level expertise and Gmail integration while eyeing a $500 billion valuation. Crocs collapses 29% on its worst guidance in over a decade, and companies tighten the reins on remote work as return-to-office mandates hit a four-year high. Expedia jumps 16% after smashing earnings expectations, President Trump moves to allow crypto and private equity in 401(k)s, and McDonald’s beats Wall Street’s estimates despite fewer diners walking through the door.
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