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Taiwan’s leading computer chip maker, TSMC, said Thursday that its net profit surged nearly 40% in the last quarter, boosted by the surge in use of artificial intelligence. Taiwan Semiconductor Manufacturing Corp. is the world’s biggest semiconductor manufacturer. It reported a net profit of a record 452.3 billion new Taiwan dollars ($15 billion) in the July-September quarter, higher than analysts’ forecasts. The company earlier said its revenue jumped 30% year-on-year in the last quarter. TSMC has been building chip fabrication plants in the United States and Japan to help hedge against risks from China-U.S. trade tensions. The chipmaker is a major supplier to compani…

When my teenage son developed mysterious symptoms, I followed the same path anyone else would: I put his health in the hands of a team of medical professionals. Multiple myeloma is a rare blood cancer. It is so uncommon in 17-year-olds that it doesn’t appear on diagnostic checklists. Despite having no clear starting point to work from, my son’s doctors worked their way to an accurate diagnosis through a process of trial and error, bouncing ideas off each other and testing and discarding hypotheses until they could tell us what was wrong. The process felt inefficient and uncertain at a time when I wanted fast answers and cast-iron guarantees. But this messy and distinctive…

During a recent New York Fashion Week, a wood-paneled boutique popped up in SoHo next to Louis Vuitton and Bottega Veneta. On the racks were tailored, wide-leg jeans and simple black Henley dresses that signaled understated elegance. But unlike those of neighboring boutiques, the clothes weren’t from a storied European maison de couture. They were some of the newest collections from Scoop and Free Assembly, two brands led by Brandon Maxwell, creative director at the House of Walmart. The pop-up—which featured items priced between $8 and $75—was part of the Bentonville, Arkansas–based retailer’s strategy to get its products in front of urban shoppers who might not be f…

Welcome to AI Decoded, Fast Company’s weekly newsletter that breaks down the most important news in the world of AI. I’m Mark Sullivan, a senior writer at Fast Company, covering emerging tech, AI, and tech policy. This week, I’m focusing on the role of NSFW material on AI platforms, which could be complicated when AI platforms turn into social platforms. I also look at a powerful new Anthropic model for free Claude chatbot users. Sign up to receive this newsletter every week via email here. And if you have comments on this issue and/or ideas for future ones, drop me a line at sullivan@fastcompany.com, and follow me on X (formerly Twitter) @thesullivan. Sam Al…

When the lights finally dimmed at the 2025 Victoria’s Secret Fashion Show last night, the first thing guests saw was a gold light emanating from backstage. Model Jasmine Tookes, nine months pregnant, opened the show in a gold macramé dress with drop pearls and a pearl and crystal wing in the shape of a clamshell. Art buffs might notice that the shell is a callback to Sandro Boticelli’s renaissance painting “Birth of Venus,” symbolizing sensuality, divine beauty, rebirth, and new beginnings. The cultural reference is a more elevated and considered nod to womanhood than the show’s previous themes, which have included “Santa’s Helpers” or “delicious sweets.” The loo…

Russia, China, Iran, and North Korea have sharply increased their use of artificial intelligence to deceive people online and mount cyberattacks against the United States, according to new research from Microsoft. This July, the company identified more than 200 instances of foreign adversaries using AI to create fake content online, more than double the number from July 2024 and more than ten times the number seen in 2023. The findings, published Thursday in Microsoft’s annual digital threats report, show how foreign adversaries are adopting new and innovative tactics in their efforts to weaponize the internet as a tool for espionage and deception. AI’s potent…

U.S. stock indexes are ticking higher on Thursday following an encouraging signal for the artificial-intelligence boom. The S&P 500 rose 0.4%, though trading has been erratic this week, and stocks have repeatedly swung between gains and losses. The Dow Jones Industrial Average was up 85 points, or 0.2%, as of 11 a.m. Eastern time, and the Nasdaq composite was 0.7% higher. Technology stocks helped lead the way after Taiwan Semiconductor Manufacturing Co. reported a bigger jump in profit for the latest quarter than analysts expected. Chief Financial Officer Wendell Huang also said TSMC expects “continued strong demand for our leading-edge process technologies” g…

It’s been two years since Howard Schultz retired from the board of directors of Starbucks, a company he founded and led for decades, but he still enjoys chatting with customers—as he did on Tuesday before sitting down for a wide-ranging interview with Dan Roth, editor-in-chief of LinkedIn. Schultz was curious to know what a customer thought of the coffee chain’s protein lattes that debuted last month and he says there’s no better place to source this information than one of the 40,000-plus Starbucks locations around the world. A sense of curiosity is important for a business leader, as well as a willingness to “be in the mud” and learn directly from customers, Schultz…

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Speaking Tuesday at the National Association for Business Economics meeting in Philadelphia, Federal Reserve Chair Jerome Powell offered his clearest reflection yet on the Fed’s pandemic-era mortgage bond buying. He acknowledged that the central bank may have kept purchasing mortgage-backed securities (MBS) for too long—but he also suggested that those purchases may have had a smaller effect on the housing market’s trajectory than some assume. “Regarding the composition of our purchases, some have questioned the inclusion of agency MBS purchases …

Uber’s U.S. drivers and couriers have a new way to earn extra money. The ride-hail app announced on Thursday a new pilot program that will offer gig workers the opportunity to train artificial intelligence (AI) through so-called “digital tasks.” They include simple, quick tasks for workers such as uploading photos, recording themselves speaking in their native language, and submitting documents written in different languages—which are then fed into AI models. Uber already offers this for gig workers in India. “A lot of these tasks are digital, meaning you can do them from your phone . . . from anywhere, and at the same time create earnings opportunities,” Sac…

After months of uncertainty, some federal student loan borrowers will soon have their debt canceled. But there’s a hook: You must be enrolled in a very specific program and have made sufficient payments to qualify. Some borrowers have been receiving notices in recent weeks that read: “You are now eligible to have some or all of your federal student loan(s) discharged because you have reached the necessary number of payments under your Income-Based Repayment (IBR) Plan.” The IBR plan, first introduced in 2007, offers debt cancellation after 20 or 25 years of repayment, depending on the age of the loans. Nearly 2 million borrowers were enrolled in this program as o…

One of the most vital drugs with a high price tag will get dramatically more affordable next year – if you live in California. California will start selling insulin next year after striking out on its own in a bold deal to lower the cost of prescription drugs, making it the first state in the nation to do so. The state will offer low-cost insulin through CalRx, a state program designed to provide affordable life-saving drugs in California. “California didn’t wait for the pharmaceutical industry to do the right thing — we took matters into our own hands,” California Governor Gavin Newsom said in a press release. “… No Californian should ever have to ration insulin…

As we scroll through our feeds, it’s not unusual to stumble upon AI-generated slop—the kind of empty, nonsensical content that’s unmistakably artificial. You click on one, and before you know it, your feed’s flooded with more of the same. It’s left users craving the authenticity they once savored—a pervasive frustration spreading across social media Pinterest has not been immune to the phenomenon. Described by Futurism as “strangled by AI slop,” the platform has been “engulfed in a torrent of uncanny AI-generated content, drowning out the human-made inspiration that once thrived there.” Amid a surge of complaints, the platform has rolled out new generative AI cont…

On Thursday October 16, New Yorkers and people across the country who have been watching the city’s mayoral race will tune in as Democratic nominee Zohran Mamdani, former New York Governor Andrew Cuomo, and Republican nominee Curtis Sliwa face off in the first of two mayoral debates, ahead of New York City’s upcoming election on November 4. The debate is set to take place in Manhattan’s Rockefeller Center starting at 7:00 p.m. ET this evening. NBC 4 New York/WNBC, Telemundo 47/WNJU, and POLITICO New York are partnering to host the debate. The hotly contested three-way race is between Mamdani, a state assemblyman; Cuomo, who is running as an independent after losin…

As OpenAI rolls out its new social media app Sora—which allows users to prompt the company’s Sora 2 model to produce fantastical videos of almost anything—there are obvious concerns that the platform could be used to generate deepfakes and otherwise misleading content. To combat this problem, the company says it adjusted its systems to prevent users from manipulating images of other people, including political leaders like Donald The President, Kamala Harris, or Emmanuel Macron. If you try to generate an image of a public figure, the Sora app—which is still invitation-only—will generally tell you your prompt violates the platform’s guidelines. But OpenAI is also…

In business, there’s one skill no leader would dare neglect: the financials. Financial literacy, like understanding a balance sheet, cash flow, or P&L, is one of the foundations for decision making. As climate change rewrites supply chains, consumer demand, and regulation, another fluency is becoming just as essential. Climate literacy will protect business growth and resilience, while leaders who ignore it are being left behind. But mastering it means more than knowing that emissions are a problem. It’s about being able to read, question, and apply environmental data the way a CFO interprets financials. Leaders must be able to ask, and know the answer to, questio…

What if, instead of working toward an exit strategy, we built companies for longevity? That’s the question at the heart of employee ownership. It’s not just a perk to lure talent. It’s a fundamentally different way of building a business, and one that might just be the key to long-term resilience. I’ve spent nearly my entire career inside a 100% employee-owned architecture, engineering, planning, and interiors design firm. Today as CEO, I lead its 1,800 employee-owners. I’ve seen firsthand how this model changes everything, from how team members treat clients to how the organization is able to weather change. But this isn’t a story about just one company. It’s abo…

On a recent weekday in Aspen, Colorado, Stu Landesberg stood with a group of firefighters on a mountainside and watched a drone take off and fly toward a simulated fire. The drone detected the “hotspot”—a pile of ice, since wildfire risk was too high that day for real flames—and then aimed and blasted it with fire suppressant. The test flight was one of thousands that Landesberg’s startup, Seneca, has run while operating in stealth mode over the last several months. The company officially launched today, announcing that it has raised $60 million. It aims to reshape wildfire response—and help protect wildfire-prone communities in a way that hasn’t been possible until n…

China’s economy expanded at the slowest annual pace in a year in July-September, growing 4.8%, weighed down by trade tensions with the United States and slack domestic demand. The July-September data was the weakest pace of growth since the third quarter of 2024, and compares with a 5.2% pace of growth in the previous quarter, the government said in a report Monday. In January-September, the world’s second largest economy grew at a 5.2% annual pace. Despite U.S. President Donald The President’s higher tariffs on imports from China, its exports have remained relatively strong as companies expanded sales to other world markets. China’s exports to the United States fell 2…

President Donald The President said Sunday that the United States could purchase Argentinian beef in an attempt to bring down prices for American consumers. “We would buy some beef from Argentina,” he told reporters aboard Air Force One during a flight from Florida to Washington. “If we do that, that will bring our beef prices down.” The President promised earlier this week to address the issue as part of his efforts to keep inflation in check. U.S. beef prices have been stubbornly high for a variety of reasons, including drought and reduced imports from Mexico due to a flesh-eating pest in cattle herds there. The President has been working to help Argentina bolster i…

A popular frozen food producer has recalled nearly 92,000 pounds of breakfast burrito and breakfast wrap products that contain eggs due to a risk of contamination with Listeria monocytogenes. The ready-to-eat burritos and wraps were recalled after the producer, M.C.I. Foods, discovered a positive Listeria result while doing routine testing on scrambled eggs from external suppliers, according to a recall notice posted by the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS). The recall impacts multiple brands supplied by M.C.I. Foods, including some that contain branding from the popular Minions animated franchise. The California-base…

U.K. banks and government tech systems going down. University students in Australia struggling to complete their coursework. Homes across Europe losing access to their Ring doorbells. While you were sleeping, large parts of the Amazon Web Services (AWS)-based internet went offline around the world. According to the AWS outage monitor, the problem stemmed from a misconfiguration of Domain Name System (DNS) resolution within the company’s cloud infrastructure. The problem was remedied within three hours of being encountered—by people unable to log onto Roblox or search the web with Perplexity. But the outage highlights just how much the web’s day-to-day function…

Americans are growing increasingly concerned about their ability to find a good job under President Donald The President, an Associated Press-NORC Center for Public Affairs Research poll finds, in what is a potential warning sign for Republicans as a promised economic boom has given way to hiring freezes and elevated inflation. High prices for groceries, housing and health care persist as a fear for many households, while rising electricity bills and the cost of gas at the pump are also sources of anxiety, according to the survey. Some 47% of U.S. adults are “not very” or “not at all confident” they could find a good job if they wanted to, an increase from 37% when the …

On September 30, OpenAI launched its new Sora social network, powered by its Sora 2 video generation model. To call Sora’s launch successful is a gross understatement. Despite “invite only” access and restrictions outside North America, Sora exploded to over 1 million users in only five days. That’s faster than ChatGPT’s user base grew after its own record-setting launch. Sora is a vertical video app, aping the interface and user experience (short clips, vertical swiping to select a new video, Likes and Shares) of every other app in its category. Except with Sora, there’s a key difference–every video on the app is explicitly and joyfully fake. I resorted …

French luxury goods company Kering said Sunday it is selling its beauty division to L’Oreal for 4 billion euros ($4.66 billion). Under the agreement, Clichy, France-based L’Oreal will acquire the House of Creed high-end fragrance company as well as licenses to create beauty and fragrance products for Kering brands like Gucci, Bottega Veneta and Balenciaga. The companies said they will establish a strategic committee to ensure coordination between Kering brands and L’Oréal. Kering and L’Oréal said they are also exploring joint business opportunities in the wellness and longevity market, combining L’Oreal’s innovation with Kering’s deep understanding of luxury clients. T…