Macy's Closes Stores as AI Powers Nvidia's Historic Growth
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Macy's is closing 150 stores and shifting its focus to smaller, luxury retail locations as department stores struggle to attract modern shoppers.
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Meanwhile, AI chipmaker Nvidia recently became one of the first publicly traded companies to reach a $2 trillion market capitalization as demand grows for its processors that power AI applications.
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Physical retail stores will remain significant despite the rise of e-commerce, but they may increasingly move out of traditional malls and focus more on community locations and specialized experiences.
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AI is expected to become more embedded in daily life, taking over routine tasks through applications and "AI assistants," although consumers remain somewhat skeptical.
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AI automation may substitute for up to 25% of current jobs, disproportionately affecting college-educated workers in fields like tax preparation, technical writing and web development.