Wall Street mixed
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Rivian impressed Wall Street with its plans for AI and automation, but significant challenges involving demand and capital remain for the EV maker.
Banks are taking steps to stop job candidates from using AI to improve their chances of being picked, including deploying detection software.
Wall Street falls as AI stocks face pressure; Broadcom, Oracle news shake tech sector. Get the latest market update and ETF insights.
Wall Street set records on Thursday, even as a sell-off for Oracle and worries about a potential bubble in artificial-intelligence technology weighed on the market.
The strong result prompted Workiva to increase its full-year revenue guidance for 2025 to $881 million (at the midpoint of the forecast range). It was the second increase this year, so the company is carrying significant momentum, and it's being driven by some of its highest-spending customers.
More than 70% of respondents in a survey by Bloomberg Intelligence also said they expect AI adoption to lead to higher operating costs over the next three years. Most still anticipate productivity to rise more quickly, according to the survey of 151 senior employees in the financial services sector published Wednesday.