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• A majority of U.S. adults—and more than two-thirds of Gen Z—consider starting a business part of the American dream, a recent survey found.
• The survey mirrors a 2020 surge in business creation that outlived the COVID-19 pandemic that spawned it.
• New demand for businesses serving the work-from-home lifestyle created opportunities for entrepreneurs, and federal stimulus made starting a business more financially realistic for many.

More U.S. adults say they want to start their own businesses, and the data shows it's not just talk.

Among nonbusiness owners, 74% of Gen Zers and 58% of millennials said they wanted to own a business someday, according to the 2026 Wells Fargo Money Study, out last month. The survey found that 61% of adults and 69% of Gen Z consider business ownership "part of the American dream." Among Gen Z non-owners who want to start a business, 80% said it would let them "control their own destiny."

The survey tracks a pandemic-era trend still going strong. Since COVID-19 shuttered much of the economy in 2020, Americans have been filing business applications at rates well above pre-pandemic levels—1.6 million in the first quarter of 2026, up from 1 million in the same quarter of 2019, Census Bureau data show.

Waves of new businesses tend to spur innovation and force incumbents to compete, two drivers of long-run economic growth, according to economists.

Researchers have offered several explanations for why the startup surge has outlasted the pandemic.

First, there was the sudden shift to remote work that restructured the economy, John C. Haltiwanger, a professor of economics at the University of Maryland, argued in a 2022 paper. The new firms clustered in different industries than those they replaced—mostly businesses catering to the work-from-home economy. For example, online retailers drove 33% of the surge.

Financial conditions helped, Haltiwanger found: unlike the 2008 recession, financial institutions stayed healthy during the COVID-19 downturn, while interest rates were at near zero.

That made it easier for people, including those laid off during the lockdowns, to get business loans. On top of that, the federal stimulus kept consumer spending afloat.

The business-start-up boom hasn't gone the way of footprint stickers dotting the floors of public places, and technological changes may be reinforcing the trend.

AI adoption may be driving a wave of new businesses, according to Torsten Slok, chief economist at Apollo Global Management, the private-equity firm.

AI and large language models are "dramatically reducing the cost and complexity of launching a company," Slok wrote in a recent note, pointing to data that new-firm creation is running faster in sectors with above-average AI adoption—led by information, professional services and finance—than in sectors where adoption lags, such as transportation, mining, and food services.

• Meta and Microsoft each confirmed plans to reduce headcount next month as they continue their aggressive investments in artificial intelligence.
• The tech sector has been hit particularly hard by AI-linked layoffs due to factors including AI's coding abilities, the sector's massive investments in the technology, and "AI-washing."

More techies are #opentowork as AI continues to shake up Silicon Valley. 

Tech giants Meta (META) and Microsoft (MSFT) are both cutting thousands of jobs as they continue to spend tens of billions on AI. A Meta spokesperson on Thursday confirmed recent reports from Bloomberg and Reuters that the social media giant plans to cut 10% of its workforce, or about 8,000 jobs, next month. Also on Thursday, Microsoft reportedly announced an early retirement program that could reduce its U.S. headcount by 7%. A Microsoft representative on Friday confirmed the accuracy of those reports.

Both companies are spending huge sums to develop and run artificial intelligence. Meta expects capital expenditures to range between $115 billion and $135 billion this year, with the bulk of that going toward AI data centers. Microsoft does not forecast full-year capex but, halfway through its 2026 fiscal year, is on track to spend more than $140 billion. The tech giants are likely to update Wall Street on their investments when they report quarterly results next Wednesday.

The rise of AI agents and vibe coding has amplified simmering concerns that artificial intelligence will throw millions of Americans out of their jobs and hurt the economy. Research suggests AI has thus far had a limited impact on the labor market, but also that disruptions could broaden over time.

Tech workers have been hit hard by AI-driven layoffs this year. Social media company Snap (SNAP) announced earlier this month it would cut 16% of its workforce, citing greater efficiency due to “rapid advancements in artificial intelligence.” Amazon (AMZN), Block (XYZ), and Salesforce (CRM) have all cut upwards of 1,000 jobs this year. According to tech job marketplace TrueUp, the tech sector has lost about 104,000 jobs in 2026. At their current pace, this year’s layoffs could total 333,000, the most since 430,000 jobs were cut in 2023.

Some onlookers question the extent to which AI is responsible. Skeptics note that tech companies, under pressure from Wall Street to show AI investments are paying off in the form of efficiency, have an incentive to pin “right-sizing” job cuts on AI, a practice sometimes called "AI-washing."

“While some may point to increased AI adoption as the key driving force behind the layoffs, our sense is that these announcements can be attributed to a renormalization in technology company employees after the sharp growth since the COVID-19 pandemic,” wrote analysts at Wolfe Research of this week’s Meta and Microsoft layoffs. Since the start of 2020, headcount has nearly tripled at Tesla (TSLA) and ServiceNow (NOW), and more than doubled at Salesforce. Meta, Alphabet (GOOG), and Microsoft—three of the companies investing most heavily in AI—have all grown their workforces by more than 50% in the past six years. 

AI may not be eliminating jobs at the rate implied by layoff announcements, but that doesn’t mean it’s not a factor. Oracle (ORCL) began laying off an estimated 30,000 employees late last month. The company said earlier this year it plans to borrow up to $50 billion to fund AI investments that far exceed the cash generated by its software business. An internal memo pertaining to Meta’s recent layoffs reportedly called the cuts “part of our continued effort to run the company more efficiently and to allow us to offset the other investments we’re making.” 

Researchers have found that AI-driven unemployment is, for now, concentrated in certain professions and age groups. Employment among early-career software developers has fallen steadily since 2022 while demand for older workers has grown, according to Stanford University's 2026 AI Index. The same is true for customer service representatives, another job at which AI agents excel. Stanford researchers note that surveys suggest executives expect this trend to continue.

"Translation: The disruption is targeted and just beginning," the researchers wrote.

—Kara Greenberg contributed to this article.

• Amazon's next quarterly results are slated for release Wednesday afternoon, with shares expected to potentially rally further into record territory in the days that follow.
• Revenue and profits are each estimated to have risen in the quarter, according to analysts.

Amazon (AMZN) is set to report earnings after the closing bell on Wednesday, with the stock seen potentially rallying to new record highs following the report.

Amazon stock is expected to move as much as 7% following the release by the end of the week, according to current options pricing. A move of that size from Thursday's close could see shares climb to $273, surpassing this week's record highs. At the low end, shares could slip to $237.

Through Thursday's close, Amazon shares had gained 11% in 2026. The stock was on the rise again Friday amid a broader rally in stocks fueled by optimism about corporate earnings and a possible end to the Iran war.

Among recent developments at Amazon, the company recently announced an expansion of its partnership with Anthropic, and a deal to acquire a satellite internet provider as it looks to expand its Leo network. In January, the tech giant also underwent its latest round of layoffs, cutting 16,000 jobs.

Amazon and other big tech firms reporting earnings in the coming days will likely face renewed questions from investors and analysts about their AI spending plans, as pressure has grown for the companies to show a return on their investments.

HSBC analysts recently said that they are bullish on Amazon heading into the earnings report because of the strong Amazon Web Services growth it showed in the fourth quarter, along with solid momentum in its U.S. and international retail sales. Analysts from JPMorgan and Bank of America each raised their price targets to $280 and $298, respectively, ahead of the report, anticipating a strong quarter of AWS demand.

Amazon's first-quarter revenue is expected to come in at $177.36 billion, up 14% year-over-year, with earnings per share seen rising by 4 cents to $1.63, according to analysts surveyed by Visible Alpha.

Analysts are widely bullish on Amazon, with the 22 analysts with current ratings tracked by Visible Alpha made up of 20 "buy" and two neutral ratings. Analysts hold an average price target of nearly $283.

• AMD and other chip stocks rallied Friday following a strong first-quarter report from Intel that pointing to growing demand for AI hardware.
• Analysts said the results bode well for sales of AMD's chips, with the rival chipmaker set to report its own results early next month.

Intel isn't the only chip stock hitting new highs after the chipmaker's strong earnings.

Advanced Micro Devices (AMD) and Arm Holdings (ARM) also climbed to new records Friday, amid expectations that Intel's results could have positive implications for the rival firms. The stocks added about 14% and 15%, respectively, amid a broader chip rally led by shares of Intel (INTC), which surged nearly 24%. The Philadelphia Semiconductor Index (SOX) rallied more than 4% to its own closing high.

Jefferies analysts said Intel's earnings served as "validation of AI tailwinds" boosting demand for server CPUs made by Intel and AMD. They noted Intel sees double-digit sales growth for its servers likely extending into 2027, and said they believe AMD could see even bigger gains.

Intel's better-than-expected results could be taken as a positive signal of demand for other chip companies, sending shares of firms across the sector higher Friday.

Analysts from D.A. Davidson upgraded AMD stock to "buy" from a neutral rating following Intel's results. The analysts said Intel's turnout could point to "meaningful upsides" for AMD's report next month. "We view Intel's results as a precursor for a huge step-up for AMD's CPU franchise," the analysts wrote.

Arm could also be set to benefit from its collaboration with Amazon (AMZN), as Meta Platforms (META) announced a deal Friday to buy custom AI processors from Amazon. Amazon shares rose close to 4% Friday, while Meta climbed about 2%.

Friday's rally leaves AMD shares up more than 60% since the start of the year, while Arm and Intel shares have both more than doubled in value year-to-date.

• The Trump-family owned parent company of Truth Social tapped a new interim chief after Devin Nunes, a former California congressman, stepped down on Wednesday.
• Trump Media & Technology Group's market capitalization, over $10 billion at its peak, is now at about a quarter of that.

Trump Media & Technology (DJT) has taken investors on a wild ride. Unfortunately for them, it's mostly been downhill.

And it's unclear when that might change, with the stock extending its slide as the company—parent of social media platform Truth Social, part-owned by President Donald Trump—appears to plotting a new path under new leadership. Trump Media earlier this week appointed Kevin McGurn its interim CEO after its longtime chief, former Congressman Devin Nunes, stepped down.

Trump Media, then led by Nunes, seemed on the upswing as Trump clinched a second term, with a market capitalization around $9 billion. More recently, it has reported steep financial losses, and announced a deal with fusion energy company TAE Technologies, plans to spin Trump Media businesses including Truth Social into another public company, and the possibility of more deals on the way.

Investors haven't seen much that they like, with the stock generally falling since Trump's reelection and the company's market value now around $2.5 billion.

Though Trump Media started out on a pretty path after its listing debut in March 2024, and shares surging on President Trump's winning a second term—its future now would appear murkier.

Nunes on Truth Social thanked President Trump, saying the time was "appropriate" for McGurn to "take over the Company's leadership and steer Trump Media through its current transition phase." Eric Swider, who was chief of the blank-check company that merged with Trump Media to land "DJT" on public exchanges in 2024, resigned from the board in early April.

Truth Social continues to be a vital communications organ for the president—but its monthly active users on iOS and Android have fallen 9% year-over-year to a little over 2 million, while desktop and mobile web audiences have declined 27% to 4.6 million users, according to estimates from digital intelligence platform Similarweb. Its daily active users, at just under 320,000, are about a tenth of the next biggest platform, Blusky Social, and a sliver of X's roughly 129 million, according to Similarweb data.

Trump Media in February reported 2025 revenue of about $3.7 million and a net loss of more than $712 million, most of which the company said was due to unrealized losses from its digital assets and related securities. At the end of 2025, the company said, it had about $2.5 billion in cash, restricted cash, short-term investments, stock, note receivables, digital assets and pledged digital assets.

McGurn has served as an adviser to Trump Media since late 2024. He was also the chief of at least two blank- check companies that have been in deal talks with Trump Media: Yorkville Acquisition Corp. (MCGA), which per an August announcement is intended to form Trump Media Group CRO Strategy, a digital asset treasury focused on cronos, crypto that is held on Trump Media's balance sheet, and Texas Ventures Acquisition III (TVA), which Trump Media said in February was in "discussions" to merge with Trump Media businesses including Truth Social and other of its businesses after they were spun off.

A merger between spun-off Trump Media businesses and Texas Ventures would occur only after Trump Media's merger with TAE, a company aspiring to make fusion energy a commercial reality, according to the companies.

Trump Media has yet to offer much explanation for the management change or detail regarding what could follow. A Trump Media spokesperson directed Investopedia to official statements and did not directly address emailed questions regarding the resignation of Swider, the status of the pending deals announced by Trump media, and whether McGurn would be handling those deals.

For now, investors are backing off. The shares recently traded below news of the latest round of deals landed—though holding above 2026, and all-time, lows below $9 apiece.

• Federal prosecutors have closed their investigation into Federal Reserve Chair Jerome Powell.
• The investigation's closure could ease the confirmation process for Kevin Warsh, President Trump's nominee to replace Powell.

Federal prosecutors are dropping an investigation of Federal Reserve Chair Jerome Powell, potentially clearing the way for President Donald Trump's nominee to replace him next month.

The Department of Justice is closing the probe into cost overruns on a project to renovate the Fed's headquarters and handing it over to the Inspector General, the Fed's internal watchdog, Jeanine Pirro, the federal attorney for the DC district, said in a social media post Friday.

"I have directed my office to close our investigation as the IG undertakes this inquiry," she posted on the X platform. "Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so."

The end of the federal investigation of Jerome Powell defuses a conflict that had raised concerns over the Federal Reserve's independence and threatened the transfer of power as Powell's term as chair comes to an end.

The investigation has been a sticking point in the transfer of leadership at the Fed as Powell's term comes to an end in May. A key Republican senator, Thom Tillis of North Carolina, said he would not vote to confirm Kevin Warsh, Trump's nominee for the job, unless the department dropped the investigation.

President Donald Trump had praised the investigation in recent weeks and accused Powell of mismanaging the project. Powell and his supporters said the probe was an intimidation tactic to pressure Powell and other Fed officials into following Trump's demands that the central bank sharply lower its key interest rate. Trump has denied knowing about the investigation before it was launched.

The investigation was a flashpoint in a conflict over how independent the Fed should be from White House control.

Congress set up the Fed to be insulated from political pressure. Policymakers serve long terms to ensure that no president can appoint enough officials during their term to secure control over the central bank.

Economists say the Fed's independence is central to its credibility and its ability to fulfill its mission of keeping inflation low and employment high. Studies have shown countries with less independent central banks tend to have higher inflation and less stable economies because heads of state usually push for low interest rates that boost the economy in the short run, but stoke inflation in the long run.

Trump has cranked up the pressure on the Fed in several ways, raising concerns about that independence among economists and former Fed officials. In addition to the investigation into Powell, the White House has attempted to fire Fed Governor Lisa Cook, an effort that was blocked by a federal judge and is now before the Supreme Court.

Trump has frequently criticized Powell and the Fed for not lowering the fed funds rate and has said it should be below 1% rather than its current range of 3.5% to 3.75%. Although Fed officials lowered the rate by three-quarters of a percentage point late last year, the Fed's policy committee has so far voted to keep the rate flat so far this year, out of concern that tariffs and the war in Iran are pushing up consumer prices and raising inflation risks.

Update, April 24, 2026—This article has been updated to include Jeanine Pirro's social media post and additional context about the conflict over the Federal Reserve's independence. It was originally published on April 24, 2026.

• Intel stock rallied to a fresh record Friday, after the chipmaker's latest results came in well above Wall Street's expectations.
• Several analysts lifted their price targets on expectations growing demand for AI hardware will aid Intel's turnaround effort.

Intel shares are soaring to new highs, thanks in large part to booming demand for AI.

Intel's (INTC) stock surged nearly 24% to close just under $83 Friday, a day after the chipmaker posted earnings that blew past Wall Street's estimates and said it's seeing "unprecedented demand" driven by AI.

Friday's jump had the shares topping a record some 26 years old. Intel's stock has more than doubled in value this year so far, and quadrupled over the past 12 months, vaulting off its recent lows last month amid some concerns supply constraints could hold back its progress. CFO David Zinsner told investors during Thursday's earnings call that the company is working on growing its capacity, and that its results would have been even stronger if its supplies were able to keep up.

Citi analysts upgraded Intel to a "buy" rating following the report, citing the company's potential to capitalize on rising demand for AI chips, improvements in its manufacturing methods, and the benefits of joining Tesla (TSLA) and SpaceX's terafab project.

Friday's rally suggests investors are growing more bullish on Intel's turnaround effort, as surging demand for AI hardware drives up sales.

However, some analysts remain more cautious. Wedbush analysts, who maintained a neutral rating, said that Intel's current valuation is "stretched," though its financials are improving and executives pointed to progress in the company's turnaround.

Morgan Stanley analysts hiked their price target to $73 from $56 following the report, but also kept a neutral rating, citing worries that Intel could lose market share to Advanced Micro Devices (AMD) and Arm Holdings (ARM).

Shares of the rival semiconductor firms followed Intel higher Friday, adding about 14% and 15%, respectively. Other chip stocks also gained.

This article has been updated since it was first published to include additional context on Intel's past performance and reflect more recent prices.

News of the day for April 24, 2026

Stock futures are rising Friday, led by huge gains for Intel following a strong earnings report; the chipmaker's first-quarter results blew past Wall Street expectations, as the company cited "unprecedented demand" for chips to support AI; investors are keeping close tabs on developments in the Middle East amid ongoing uncertainty about possible U.S.-Iran peace talks; Procter & Gamble shares are rising after the consumer products giant reported better-than-expected results; and Taiwan Semiconductor shares are rallying thanks to a rule change by Taiwanese authorities. Here's what you need to know today.

Futures are pointing higher this morning as massive gains for Intel (INTC) following a strong earnings report power the chip sector higher (more on that below). Futures tied to the tech-heavy Nasdaq were up 1.3% recently, while those linked to the S&P 500 added 0.4%. Dow Jones Industrial Average futures were hovering near unchanged. The major indexes ended yesterday lower—with the Nasdaq and S&P 500 both setting all-time highs before pulling back—as investors awaited solid news on when peace talks with Iran could take place. The major indexes enter today's session slightly lower for the week, after posting big gains in each of the previous three weeks.

West Texas Intermediate futures, the U.S. crude oil benchmark, were down down roughly 1% recently at around $95 per barrel. Gold futures were little changed at $4,730 an ounce, while bitcoin traded at $78,300, about where it was late Thursday. The yield on the 10-year Treasury ticked lower to 4.31%.

Intel shares are on fire this morning after the chipmaker reported better-than-expected results for the first quarter, thanks to "unprecedented demand" for its chips that big tech companies are buying to support their AI efforts. CFO David Zinsner said in Thursday's earnings call that Intel's revenue could have been even further above estimates if its supply chain were able to keep up with demand. Intel's second-quarter forecast also topped estimates, as executives said they would do what they can to ensure they can meet demand. Shares were up 28% in premarket trading, north of $85 per share, well above their dot-com era records of nearly $75 in 2000.

President Trump said Thursday that after meeting at the White House, officials from Israel and Lebanon had agreed to extend their 10-day ceasefire, originally set to end next Monday, by three weeks. The talks didn't include the Hezbollah militant group that Israel says it is fighting in Lebanon, as the sides have reportedly continued engaging in periodic small attacks with no large-scale fighting. Investors are still waiting for confirmation of another round of peace talks between the U.S. and Iran, after Trump said earlier this week that the ceasefire between the countries would be extended until Iran submits its next proposal of conditions to end the war. Traffic through the Strait of Hormuz remains minimal, as the U.S. and Iran have both attacked and seized boats for alleged violations of their control of parts of the key oil shipping waterway.

Procter & Gamble (PG) on Friday reported better-than-expected results for its fiscal third quarter. The consumer products giant reported $21.2 billion in revenue, while "core," or adjusted, earnings per share came in at $1.59, each above what analysts had forecast, per Visible Alpha estimates. Sales increased by at least 6% across all five of the company's segments in the quarter. Shares of the maker of Crest toothpaste and Old Spice deodorant were up 2% ahead of the opening bell.

Shares of Taiwan Semiconductor Manufacturing Co. (TSM) are rising following the announcement of a new rule by Taiwanese regulators. Under the rule, funds will be allowed to allocate up to 25% of their assets to any single stock with a weighting of at least 10% on the Taiwan Stock Exchange, CNBC reported. The cap was previously 10%, and the move could help boost the stock by allowing institutional investors in Taiwan buy up more of one of the AI trade favorite's shares. Shares of the chipmaker listed on the New York Stock Exchange were up more than 3% premarket to around $395, which would be a new record at the open

• Intel reported first-quarter earnings that topped analysts' estimates and gave a better-than-expected outlook.
• Executives pointed to booming AI demand for the strong results, and improvements in Intel's supply.

Intel's stock is soaring after the latest promising evidence of a turnaround for the chipmaker.

Shares of Intel (INTC) were up over 19% in extended trading Thursday, suggesting a jump to record highs—and above a high-water mark set in 2000— after the company reported earnings that were above analysts' estimates and gave a better-than-expected outlook driven in large part to AI-driven demand.

Intel posted first-quarter earnings per share of 29 cents on a 7% year-over-year rise in revenue to $13.6 billion. Analysts surveyed by Visible Alpha on average expected adjusted earnings of 2 cents per share on revenue of $12.39 billion. CFO David Zinsner said the results reflected growing and "unprecedented demand" for chips to support AI, as well as improvements in the the company's available supply.

Zinsner told investors during the company’s earnings call that Intel’s revenues for the quarter would have been higher, if the company’s supplies had been able to keep up with demand.

Intel's strong results could reinforce recent enthusiasm for the shares, which have been on a tear this year after a string of high-profile deals.

Executives had warned in January that Intel's supplies could hit a low in the quarter, as the company contended with industry-wide shortages of certain components and rising prices. Zinsner said in Thursday's press release that Intel will “remain focused on maximizing our factory network to improve available supply and meet our customers’ needs throughout the year."

The company projected adjusted earnings per share of 20 cents on revenue of $13.8 billion to $14.8 billion for the second quarter. Both figures topped the analyst consensus.

Intel CEO Lip-Bu Tan, who took over the role in March of last year, said demand for Intel's offerings is seen growing along with AI adoption, and touted its "new and deepened relationships with strategic partners.”

Intel earlier this month announced an expanded partnership with Alphabet's (GOOGL) Google and said it would join Elon Musk's terafab project with SpaceX, xAI and Tesla. Reports have suggested that agreements with former client Apple (AAPL) and Amazon (AMZN) could be on the way too.

Shares of Intel were up over 80% for the year through Thursday's close amid growing optimism about its turnaround.

This article has been updated since it was first published to include comments from the company's earnings call and reflect more recent prices.

Episode 291 of the Investopedia Express podcast with Caleb Silver (Apr. 20, 2026)

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A tenuous ceasefire in the Middle East and a potential opening of the Strait of Hormuz pushed U.S. equity markets to all-time highs last week. But the damage from higher oil prices might’ve already been done, calling into question the strength of the global economy and the hopes that companies can keep churning out higher profits.

Stephanie Guild, Robinhood Markets Chief Investment Officer, drops in with a perspective for retail investors and which sectors we should keep an eye on outside the Magnificent 7. Plus, the centuries-old heavy metals ratio is sending warning signals. Should we tune it in?