Supporters of California’s proposed billionaire tax say it could raise $100 billion, with 90% of the proceeds earmarked for health care. A pair of Stanford economists warn it could instead leave the state $39 billion worse off in today’s dollars. Proposition 40, on California’s Nov. 3 ballot, would impose a one-time 5% tax on the
Millions of Americans are getting a raise from Social Security next year. But the bigger story may be what happens a few years later, when the program’s main trust fund is projected to run dry. The Social Security Administration (SSA) announced a 3.6% cost-of-living adjustment (COLA) for 2027 on Oct. 14, raising monthly payments as
Even Healthcare has raised $50 million in a funding round led by Khosla Ventures, as the Indian startup seeks to change how hospitals in the world’s most populous country make money and how doctors are rewarded. The all-equity Series B round also saw participation from Alpha Wave and valued it at $300 million, triple its
CoreWeave—and the vast amount of debt it has taken on to fund its business—dragged down the entire stock market this week. According to its Q2 earnings release, it had operating lease liabilities of $16.3 billion and total debt of $35.6 billion. The company only made $4.6 billion in revenue for the first six months, and
In an exclusive interview with Fortune’s Jeremy Kahn and Bea Nolan, Nvidia CEO Jensen Huang shrugged off existential-risk warnings from many leaders in the AI space, including Anthropic’s Dario Amodei, saying the technology was “completely in our control.” “I don’t know why anybody would want to support the advancement of a technology that’s going to
Credit: Jonathan Nackstrand/AFP via Getty The 2026 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to economists Robert E. Hall and Michael Woodford for their research on how to stabilize an economy to avoid socially and economically damaging fluctuations in inflation, growth and employment. The work, in the words
