Corporate America

The Financial Times reports that large US companies are increasingly adopting cheaper 'open' AI models instead of costly proprietary systems. The shift reflects growing pressure to cut technology spending while still deploying generative AI across business operations. Open-weight models from providers like Meta and Mistral are gaining ground as firms weigh cost savings against performance and security concerns.

A Federal Reserve survey of corporate finance chiefs finds that chief financial officers have raised their expectations for inflation and now cite interest rates as a key concern. The shift suggests businesses are bracing for price pressures to persist and for borrowing costs to remain a constraint on investment and hiring decisions.

Wisconsin has joined a $2.3 million settlement with Laboratory Corporation of America (Labcorp) related to a data breach. The settlement resolves claims connected to the exposure of customer information in a cyberattack. Residents affected by the breach may be eligible for compensation under the agreement. Details on payment amounts and eligibility deadlines have not been disclosed in the available coverage.