Consumer prices are rising quickly in the United States. But workers aren’t seeing big pay hikes despite becoming more productive. Federal Reserve Chairman Kevin Warsh delivered an update on the U.S. economy to lawmakers on Capitol Hill in July. His comments  on AI and economic growth foreshadow how workers may fare moving forward.  CNBC’s Matt Peterson and Jeff Cox report.

Credits:
Reporters: Matt Peterson, Jeff Cox
Produced and Edited by: Carlos Waters
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty Images

Chapters:
00:48 Wages
01:47 Economic growth
03:28 Interest rates

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Why Workers Stopped Getting Big Raises

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Chinese automakers have captured more than 30% of the UK’s EV market, up from less than 1% seven years ago. Government subsidies allow brands like BYD and Geely to price vehicles thousands of pounds below European competitors. As Volkswagen’s profits fall and Tesla’s UK market share drops, American and European automakers are racing to respond to China’s growing global push.

Chapters:
Intro | 00:00 – 01:08
Chapter 1: Chinese cars in the UK | 01:09 – 02:28
Chapter 2: China’s global growth | 02:29 – 4:46
Chapter 3: American brands | 4:47 – 6:06

Credits:
Reporting by
Philip LeBeau

Senior Field Producer
Meghan Reeder

Camera by
Michael Green

Edited by
Darren Geeter

Senior Director of Video
Lindsey Jacobson

Additional Footage
Getty Images

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How Chinese Automakers Like Geely And BYD Are Taking Over The UK

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Daniel Ives, GBH Insights, and Mark Mahaney, RBC Capital Markets, provide their play on the sell-off in tech stocks.
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Tech Stocks Selling At ‘Garage Sale’ Prices | CNBC

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The home assistant just got a lot cuter. Electronics and artificial intelligence company Anki just released a new home robot called Vector.
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Amazon Alexa Has A New, Cute Competitor | CNBC

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Elon Musk’s xAI, now known as SpaceXAI following a merger with SpaceX, has made the Memphis, Tennessee area the center of its AI ambitions. XAI is building three data centers there, as well as a power plant in Southaven, Mississippi. XAI’s AI infrastructure there truly deserves its name Colossus. It’s a modern marvel that was built with breakneck speed. Anthropic and Google are now renting compute capacity at the data centers in a deals worth billions of dollars. But some say the buildout has been chaotic. XAI is now facing multiple lawsuits accusing the company of using loud, pollution-emitting gas turbines, some without the required Clean Air Act permits. CNBC traveled to Memphis and Southaven to speak with locals to learn why the data centers are such a flashpoint, to find out why backlash against data centers is spreading nationwide, and to learn what hyperscalers can do to win support as they race to build AI infrastructure.

Chapters:
00:00 – 3:54 Introduction
3:55 – 10:28 SpaceX’s AI ambitions
10:29 – 17:02 Gas-burning turbines
17:03 – 20:28 Constant noise
20:29 – 22:37 Millions of gallons of water
22:38 – 28:59 Growing AI backlash

Senior Director: Jeniece Pettitt
Reporter: Lora Kolodny
Camera and Additional Editing: Andrew Evers
Edited by: Marisa Forziati
Animation: Jason Reginato, Emily Park
VP, Executive Producer: Kamelia Angelova
Senior Technology Editor: Ari Levy
Bureau Chief: Christina Passariello

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How Memphis Became The Epicenter Of SpaceX’s AI Ambitions

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