BUSINESS

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Spotify said on Thursday it will start offering physical books for purchase inside its app through a partnership with online retailer Bookshop.org, pushing the music streaming giant further into the book business beyond audiobooks.

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The assembly lines that launched the electric vehicle revolution are being repurposed for the age of robotics. Elon Musk announced Wednesday that Tesla will cease production of its Model S and Model X lineups this year to facilitate a "major retooling" of its California facility for humanoid robot manufacturing. The two vehicles were

introduced in 2012 and 2015, respectively. By retiring the vehicles that fueled its initial rise to dominance, Tesla is betting its future on a transition from a vehicle manufacturer to a leader in autonomous robotics.

Tesla CEO Elon Musk said Wednesday that the company would begin phasing out its Model S and Model X electric vehicles this year and retool a California factory to produce humanoid robots instead. The announcement signals an end of an era. — helped to move electric cars from the consumer fringe into the mainstream. They also fueled Tesla’s rise from a startup into the world’s most valuable automaker.

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Samsung Electronics delivered a sharp earnings surprise after reporting that its fourth-quarter operating profit more than tripled, powered by a surge in demand for memory chips used in artificial intelligence systems.

The South Korean technology giant said profit climbed to 20.1 trillion won for the October-to-December period, exceeding market expectations and marking its strongest quarterly result on record. Revenue rose 24% from a year earlier to 93.8 trillion won, also setting a high.

The results reflect mounting pressure on global chip supply as companies race to build AI data centers. Samsung said its memory division was the primary driver of earnings, benefiting from higher prices and booming sales of high-bandwidth memory, or HBM, which is essential for AI accelerators.

HBM demand has surged as major chip designers compete for limited supply, pushing memory manufacturers to redirect capacity toward higher-margin products. That shift has tightened availability across the broader market, lifting prices for chips used in smartphones, personal computers, and other consumer devices.

Samsung said its Device Solutions division recorded all-time highs in both quarterly revenue and operating profit, with HBM and other premium memory products accounting for a growing share of sales. The company added that AI-related server demand is expected to remain strong into early 2026.

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Walmart Inc. reached a landmark valuation this week, becoming the first retailer ever to surpass a $1 trillion market capitalization, a level typically reserved for the world's most powerful technology companies.

Shares of the Bentonville, Arkansas-based retailer climbed to fresh records in early New York trading, extending a rally that has lifted the stock roughly 26% over the past year and more than quadrupled its value over the last decade. The move places Walmart alongside companies such as Nvidia, Alphabet, Apple and Microsoft in the trillion-dollar club.

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Shares of Puma surged on Tuesday after China's Anta Sports announced it would acquire a significant minority stake in the German sportswear brand, marking a major development in Puma's ongoing turnaround efforts and Anta's global expansion strategy.

Anta said it will pay 1.5 billion euros, equivalent to about $1.8 billion, to acquire a 29.06% stake in Puma from Artémis, the investment vehicle of France's Pinault family. The purchase price of 35 euros per share was paid in cash. Following the transaction, Anta will become Puma's largest shareholder, though the company emphasized it does not currently intend to pursue a full takeover.

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United Parcel Service announced on Tuesday that it will eliminate up to 30,000 operational roles and shutter 24 additional facilities in 2026 as part of a strategic pivot toward higher-margin shipments. This follows a massive restructuring in 2025, during which the world’s largest delivery firm cut 48,000 jobs and closed 93

buildings. The company expects the combined efforts—including driver buyouts—to generate approximately $3 billion in savings throughout this year.

UPS said in January last year that it would accelerate a plan to slash millions of low-profit deliveries for Amazon.com, its largest customer and a growing delivery rival, calling the business "extraordinarily dilutive" to margins.