Business

Mortgage rates rose to the highest level in more than a year, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.71% from last week’s reading of 6.66%. It was the highest…

Nvidia announced Thursday that it will buy AI developer platform Hugging Face in a deal valued at approximately $12.9 billion. The chipmaker is betting that growing demand for the open-source AI models hosted on Hugging Face will fuel future growth, even as some of Nvidia’s largest customers develop their own…

Southwest Airlines on Wednesday unveiled plans to debut its first-ever network of airport lounges, with work underway on the first lounges due to open in late 2027. The airline announced that four Southwest lounges will open in late 2027, with those locations including Austin, Baltimore, Honolulu and Nashville.Southwest’s announcement also…

The rapid buildout of artificial intelligence (AI) infrastructure is expected to accelerate in the years ahead, with a new analysis projecting investment in the sector will top $31 trillion through 2050. A report by PwC projects that capital expenditures on AI infrastructure will reach $31.6 trillion by 2050 as companies…