AP Business SummaryBrief at 3:04 a.m. EST

Trump's portrayal of 'golden age' is out of sync with how Americans see economy

WASHINGTON (AP) — President Donald Trump sought in his first State of the Union address to sell Americans on the idea of a booming economy, falling prices, and soaring jobs, yet he faces a skeptical public with a much gloomier view. Barely 12 hours before his speech, in fact, The Conference Board, a business research group, released its latest consumer confidence report. It showed that overall confidence in the economy remains historically low, and is barely above the level it plunged to in the depths of the COVID recession. Other polling has yielded similar results: Only 39% of Americans approve of Trump’s economic leadership, according to the latest Associated Press-NORC Center for Public Affairs Research survey.

Nvidia delivers another quarter of stellar growth amid growing concern over AI economy

Artificial intelligence chipmaker Nvidia on Wednesday announced another quarter of astounding quarterly growth as investors try to decipher whether technology’s latest craze is overblown hyperbole or a springboard into a new era of prosperity and productivity. The results for November-January period blew past the analyst projections that shape investors’ perceptions, as has been the case since Nvidia’s high-end chips emerged as AI’s best building blocks three years ago. Nvidia’s fiscal fourth-quarter revenue surged 73% from the previous year to $68.1 billion while its profit nearly doubled. Nvidia’s stock price rose nearly 4% in extended trading after the numbers came out, but then backtracked and was slightly down a few hours later.

AI song generator startups Suno and Udio angered the music industry. Now they're hoping to join it

CAMBRIDGE, Mass. (AP) — AI music platforms Suno and Udio were sued by major record labels in 2024 for allegedly exploiting the recorded works of professional musicians. Since then, the pair have strived to make peace with the industry through settlements and licensing deals. While many professional musicians remain skeptical of the budding AI music industry, some artists, like Christopher “Topher” Townsend, already are embracing the technology and creating hit new tracks and digital extensions of themselves.

One Tech Tip: Group chats are a way of life but come with unspoken etiquette

Group chats now run much of daily life, and etiquette experts say a few simple habits keep them sane. In the latest One Tech Tip, The Associated Press shares tips from etiquette experts at Debrett’s on how to avoid annoying others. Think before you post, and match your message to the group’s purpose. In a practical chat, stay on task. In a social chat, light posts can fit. Keep messages short. Assume work chats can be forwarded. Use emoji carefully. In big groups, do not reply to everything. Mute noisy chats, and leave if needed.

Asian shares mostly rise after Nvidia earnings beat expectations

HONG KONG (AP) — Asian stock markets have mostly advanced following stronger-than-expected earnings from chipmaker Nvidia, which helped ease some investor fears over the boom in artificial intelligence. Japan’s Nikkei 225 surpassed the 59,000 level for the first time and South Korea's Kospi extended its rally after it passed the 6,000 mark earlier this week. U.S. futures declined and Nvidia was up only 0.2% in afterhours trading after giving up earlier sharp gains. On Wednesday, the S&P 500 gained 0.8% for a second straight gain. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq composite rose 1.3%. Nvidia's results came after markets closed on Wednesday.

IMF sees 'buoyant' US economy accelerating this year but warns of risks from tariffs, rising debt

WASHINGTON (AP) — A “buoyant″ U.S. economy is poised to see accelerated growth and lower unemployment this year. But big federal budget debts ”represent a growing stability risk,″ the International Monetary Fund said Wednesday. The 191-country lending organization’s assessment of the world’s biggest economy was mostly positive. The IMF saw U.S. gross domestic product — the country’s output of goods and services — growing 2.4% in fourth-quarter 2026 from the last three months of 2025, up from 2.2% growth the year before. It sees U.S. unemployment dropping from 4.5% in late 2025 to 4.1% in 2026 and inflation falling to the Federal Reserve’s 2% target by 2027.

Trump administration hits Iran with new sanctions as nuclear talks near

WASHINGTON (AP) — The Trump administration is expanding its pressure on Iran by imposing new sanctions aimed at the country's missile, drone and oil networks. Treasury announced the move Wednesday that targets 30 people, companies and ships. The sanctions focus on Iran’s “shadow fleet” and on drone makers like Qods Aviation Industries. The measures block access to any U.S.-held property and ban American dealings with those listed. The penalties are part of the Trump administration's efforts to press Tehran to make a deal to further scale back its nuclear program. They were imposed ahead of another round of talks in Geneva on Thursday.

Bill Gates 'spoke candidly' about Epstein ties at a Gates Foundation meeting, spokesperson says

Bill Gates is addressing his connection to convicted sex offender Jeffrey Epstein, answering questions about their relationship during a town hall meeting of his nonprofit Gates Foundation. A Gates Foundation spokesperson says the Microsoft co-founder “took responsibility for his actions” and “spoke candidly” on Tuesday. Gates appears multiple times in the Justice Department’s release of documents connected to its investigation of the late financier. He says he met with Epstein about philanthropy and regrets the meetings. Increased attention pushed Gates to skip a planned keynote at an AI summit.

Warner Bros gets a higher offer from Paramount in heated fight for the storied Hollywood studio

NEW YORK (AP) — Warner Bros. Discovery said that Paramount has raised the price of its takeover offer to $31 per share, potentially setting the stage for a fresh bidding war with Netflix over the future of the Hollywood giant. The company previously offered $30 per share when it first went directly to Warner stakeholders with its all-cash, hostile bid in December — just days after Warner struck a deal to sell its studio and streaming business to Netflix for $27.75 per share. Beyond upping its proposed purchase price, Warner said Paramount had increased its regulatory termination fee to $7 billion. Paramount also agreed to move up a previously-promised “ticking fee” payable to shareholders.

Samsung rolls out more AI, new privacy shield mode with the new Galaxy S26 lineup

SAN FRANCISCO (AP) — Samsung on Wednesday unveiled its latest Galaxy smartphones, which boast an even bigger toolbox of artificial intelligence technology than the previous two generations and introduce a new privacy shield that blocks snoopy bystanders from sneaking a peek at the display screen. The upgrades on the Galaxy S26 lineup, coming to stores March 11. will also include price increases of 10% to 13% on the basic and mid-tier models while the Ultra device will cost the same as last year’s version. Samsung also is dangling another reason to pony up for its most expensive Galaxy S26 with a new feature called “Privacy Display” that will only be available on the Ultra.