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Why the A.I. Rally (and the Bubble Talk) Could Continue Next Year

Big Tech’s huge investment in artificial intelligence is making investors nervous. But the technology continues to advance, buoying the bulls.

© Kenny Holston/The New York Times

Jensen Huang, C.E.O. of Nvidia, has seen his company’s value soar to more than $4 trillion on the back of investor enthusiasm for the artificial intelligence boom.
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Shoppers Spent Big This Holiday Season, Despite Economic Pressures

Consumers spent 3.9 percent more from Nov. 1 to Dec. 21 this year compared with last year, according to a Mastercard report on holiday spending.

© Karsten Moran for The New York Times

The holiday shopping figures show that spending has remained resilient, with consumers visiting stores and restaurants even as prices have risen.
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Russia Bombards Ukraine Hours After Zelensky Calls Peace Plan ‘Quite Solid’

The Ukrainian leader cited progress on security guarantees, even as Russia bombed Ukraine overnight, indicating that the Kremlin is prepared to continue fighting.

© Roman Pilipey/Agence France-Presse — Getty Images

Workers clearing debris from the roof of a heavily damaged residential building following a drone strike in Kyiv, Ukraine, on Tuesday.
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Trump May Give SpaceX Some Land In A Texas Wildlife Refuge

In exchange for the land in Texas, the rocket and satellite company would give the government some of its own property nearby, documents show.

© Meridith Kohut for The New York Times

SpaceX’s launchpad near Boca Chica Beach in South Texas.
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YouTube Has a Firm Grip on Daytime TV

YouTube’s big streaming lead over Netflix and other competitors stems in large part to its dominance during daylight hours.

© Fortunate Joaquin

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The Strange Case of the Russian Snickers in U.K. Convenience Shops

The Russian-labeled candy bars are a reminder of how difficult it is to completely disconnect a major economy from the global flow of goods.

© Stephen Castle/The New York Times

Snickers bars, with Cyrillic packaging, at a convenience store in London, alongside other confectionary.
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Private Equity, Saddled With Investments It Can’t Sell, Loses Its Luster

As funds deliver mediocre returns and sheds investors, the industry is struggling to unload 31,000 investments, an increase over this time last year.

© Alex Wong/Getty Images

Harvey Schwartz, chief executive of Carlyle, one of the world’s largest private equity firms, had predicted a banner year for the industry.
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The Complicated Legacy of Mayor Eric Adams

Mr. Adams will be remembered for the drumbeat of scandals that derailed his mayoralty in New York City, a growing affordability crisis and progress on public safety and housing.

© Adam Gray for The New York Times

Mayor Eric Adams came into office in 2022 with bold promises, but he leaves with a mixed résumé tarnished by a federal indictment.
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N.Y.C. Housing Isn’t Being Built Fast Enough, Report Says

Housing experts and politicians agree that New York City needs to add hundreds of thousands of new homes. The Real Estate Board of New York is keeping tally.

© Karsten Moran for The New York Times

In a new report, the Real Estate Board of New York said the city needed to build thousands more units each quarter to meet housing goals this decade.
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The Best Photos From the NYT Styles Desk in 2025

Fashion, characters, celebrities, scenes and more incredible moments that made you look in 2025.

© Landon Nordeman for The New York Times

Lupita Nyong’o wore a powder blue suit by Chanel to the Met Gala in May. This year, the Costume Institute benefit at the Metropolitan Museum of Art celebrated “Superfine: Tailoring Black Style,” an exhibition focusing on the Black dandy and its influence on fashion.
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Trump Announces New ‘Trump Class’ of Warships

The president said development of the vessels would help maintain military superiority and improve the industrial base, but analysts suggested they were the wrong approach to current threats.

© Eric Lee for The New York Times

In giving the new class of ships his own name, Mr. Trump continued a self-aggrandizing streak of imprinting his brand on various aspects of the federal government.
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Trump Needs to Rein in Netanyahu

President Trump should press Prime Minister Benjamin Netanyahu to ease military pressure on Gaza, Lebanon and Syria for the sake of his own policy.

© Jordan Bohannon

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China Delays Plans for Mass Production of Self-Driving Cars After Accident

After years of planning for cars that would let drivers take their hands off the wheel and eyes off the road, China’s regulators have become more cautious.

© Gilles Sabrié for The New York Times

A Changan Automobile assembly line in May. Changan is one of only two automakers approved to conduct limited testing of self-driving taxis.
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