Traffic warden Rai Rogers mans his street corner during an 8-hour shift under the hot sun in Las Vegas, Nevada on July 12, 2023, where temperatures reached 106 degrees amid an ongoing heatwave. More than 50 million Americans are set to bake under dangerously high temperatures this week, from California to Texas to Florida, as a heat wave builds across the southern United States.
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If you feel like record-level extreme weather events are happening with alarming frequency, you’re not alone. Scientists say it’s not your imagination.
“The number of simultaneous weather extremes we’re seeing right now in the Northern Hemisphere seems to exceed anything at least in my memory,” Michael Mann, professor of earth and environmental science at the University of Pennsylvania, told CNBC.
Globally, June was the hottest June in the 174-year records kept by the National Oceanic and Atmospheric Administration, the federal agency said on Thursday. It was the 47th consecutive June and the 532nd consecutive month in which average temperatures were above the average for the 20th century.
The amount of sea ice measured in June was the lowest global June sea ice on record, due primarily to record-low sea ice levels in the Antarctic, also according to NOAA.
There were nine tropical cyclones in June, defined as storms with wind speeds over 74 miles per hour, and the global accumulated cyclone energy, a measure of the collective duration and strength of tropical storms, was almost twice its average value for 1991–2020 in June, NOAA said.
As of Friday morning, 93 million people in the United States are under excessive heat warnings and heat advisories, the National Weather Service Weather Prediction Center, according to a bulletin published Friday morning. “A searing heat wave is set to engulf much of the West Coast, the Great Basin, and the Southwest,” the National Weather Service said.
A person receives medical attention after collapsing in a convenience store on July 13, 2023 in Phoenix, Arizona. EMT was called after the person said they experienced hot flashes, dizziness, fatigue and chest pain. Record-breaking temperatures continue soaring as prolonged heatwaves sweep across the Southwest.
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Flooding in downtown Montpelier, Vermont on Tuesday, July 11, 2023. Vermont has been under a State of Emergency since Sunday evening as heavy rains continued through Tuesday morning causing flooding across the state.
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On June 27, Canada surpassed the record set in 1989 for total area burned in one season when it reached 7.6 million hectares, or 18.8 million acres. And the total has since increased to 9.3 million hectares, or 23 million acres, which is being driven by record-breaking high temperatures, turning the vegetation into kindling for wildfires to race through.
A view of the city as smoke from wildfires in Canada shrouds sky on June 30, 2023 in New York City, United States. Canadian wildfires smoke creating a dangerous haze as the air quality index reaches 160 in New York City. People warned to avoid outdoor physical activities and for those who spend time outdoors recommended to use well-fitting face masks when air quality is unhealthy.
Anadolu Agency | Anadolu Agency | Getty Images
In all of 2022, there were 18 separate billion dollar weather and climate disaster events according to data from NOAA, including tornado outbreaks, high wind, hailstorms, tropical cyclones, flooding, drought, heatwaves and wildfires. So far, there have been 12 billion-dollar weather and climate disasters in 2023, according to NOAA.
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“This year will almost certainly break records for the number of extreme weather events,” Paul Ullrich, professor of regional and global climate modeling at University of California at Davis, told CNBC.
Global warming is making extreme weather events more severe, scientists said.
“Our own research shows that the observed trend toward more frequent persistent summer weather extremes — heat waves, floods, — is being driven by human-caused warming,” Mann told CNBC.
Ullrich agrees. “Increases in the frequency and intensity of heatwaves, floods and wildfires can be directly attributable to climate change,” Ullrich told CNBC.
Wildfire burns above the Fraser River Valley near Lytton, British Columbia, Canada, on Friday, July 2, 2021. A protracted heat wave continues to fuel scores of wildfires in Canada’s western provinces, with Prime Minister Justin Trudeau calling an emergency meeting of a cabinet crisis group to address the matter.
Bloomberg | Bloomberg | Getty Images
“Through the emission of greenhouse gases, we have been trapping more heat near the surface, leading to increases in temperature, more moisture in the air, and a drier land surface,” Ullrich said. “Scientists are extremely confident that an increasing frequency and intensity of extreme events is a direct consequence of human modification of the climate system.”
El Niño is like adding lighter fuel to an already smoldering fire. “Under recently emergent El Niño conditions, temperatures are pushed higher worldwide, further compounding increases in temperature brought on by greenhouse gas emissions,” Ullrich said.
That combination of anthropogenic climate change and El Niño is “spiking some of these extreme events,” Mann said.
Animation of sea surface temperatures for past 6 months
NOAA
El Niño, which means “little boy” in Spanish, happens when the normal trade winds that blow west along the equator weaken and warmer water gets pushed o the east, toward the west coast of the Americas. In the United States, a moderate to strong El Niño in the fall and winter correlates with wetter-than-average conditions from southern California to the Gulf Coast, and drier-than-average conditions in the Pacific Northwest and Ohio Valley.
When global warming and El Niño are hitting at the same time, “it can be difficult separating what is just a weather event or if it is part of a longer trend,” Timothy Canty, professor in the department of atmospheric and oceanic science at University of Maryland, told CNBC.
But what is clear is that climate change makes it more likely that an extreme weather event will happen.
“Higher temperatures from climate change are indisputable, and with each degree increase we’re multiplying our changes of getting an extreme heat wave. In the wetter regions of the world, including the Northeastern US, we’re expecting more rain and more intense storms,” Ullrich told CNBC. “To avoid even more extreme changes, we need to both reduce our reliance on fossil fuels and act to clean up our polluted atmosphere.”
And as long as global greenhouse gas emissions continues to increase, the trend of more and more frequent extreme weather is expected to continue, Mann says.
Decreasing the greenhouse gas emissions released into the atmosphere by burning fossil fuels will help moderate the extreme weather trends.
An infographic titled “Sea ice in Antarctica drops to lowest level in 43 years” created in Ankara, Turkiye on March 01, 2023. The sea ice level surrounding the Antarctic continent has dropped to its lowest level since 1979.
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“The good news is that the latest research shows that the surface warming driving more extreme weather events stabilizes quickly when carbon emissions cease. So we can prevent this all from getting worse and worst by decarbonizing our economy rapidly,” Mann told CNBC.
Every person’s contributions to reducing their climate footprint helps, Canty says.
“People have asked me essentially ‘What can I do as an individual that matters?’ and decide not to do anything and instead blame everyone else. Honestly, it’s societies made up of individuals that have gotten us to this point,” Canty said.
Individuals can reduce their greenhouse gas emissions by making small changes like turning off the lights when they’re not in a room, turning down the heat or up the air conditioning when they’re not home, avoiding food waste and using public transportation.
Voting also matters a lot, Canty said. Government leaders have been able to make successful progress on international environmental crises in the past, Canty said, pointing to the Montreal Protocol. “There is a roadmap for working together to fix environmental problems in ways that benefit everyone,” Canty said.
“Tackling the ozone hole required governments, scientists, and businesses to work together and the Montreal Protocol and its amendments have been very successful not only for ozone but for climate,” Canty said, noting that the same chemicals that deplete the ozone, chlorofluorocarbons, are also very bad greenhouse gasses. “The ozone hole is slowly recovering and because of actions taken in the 80s we’ve avoided even worse planetary warming, and we still have air conditioning and hair spray which seemed to be the big panic at the time.”
If individuals and organizations don’t commit to aggressively reducing their greenhouse gas emissions, however, then this battery of extreme weather is a harbinger of the future.
“If we fail to act what we’re seeing right now is just the tip of the proverbial — melting — iceberg,” Mann told CNBC.
TikTok’s grip on the short-form video market is tightening, and the world’s biggest tech platforms are racing to catch up.
Since launching globally in 2016, ByteDance-owned TikTok has amassed over 1.12 billion monthly active users worldwide, according to Backlinko. American users spend an average of 108 minutes per day on the app, according to Apptoptia.
TikTok’s success has reshaped the social media landscape, forcing competitors like Meta and Google to pivot their strategies around short-form video. But so far, experts say that none have matched TikTok’s algorithmic precision.
“It is the center of the internet for young people,” said Jasmine Enberg, vice president and principal analyst at Emarketer. “It’s where they go for entertainment, news, trends, even shopping. TikTok sets the tone for everyone else.”
Platforms like Meta‘s Instagram Reels and Google’s YouTube Shorts have expanded aggressively, launching new features, creator tools and even considering separate apps just to compete. Microsoft-owned LinkedIn, traditionally a professional networking site, is the latest to experiment with TikTok-style feeds. But with TikTok continuing to evolve, adding features like e-commerce integrations and longer videos, the question remains whether rivals can keep up.
“I’m scrolling every single day. I doom scroll all the time,” said TikTok content creator Alyssa McKay.
But there may a dark side to this growth.
As short-form content consumption soars, experts warn about shrinking attention spans and rising mental-health concerns, particularly among younger users. Researchers like Dr. Yann Poncin, associate professor at the Child Study Center at Yale University, point to disrupted sleep patterns and increased anxiety levels tied to endless scrolling habits.
“Infinite scrolling and short-form video are designed to capture your attention in short bursts,” Dr. Poncin said. “In the past, entertainment was about taking you on a journey through a show or story. Now, it’s about locking you in for just a few seconds, just enough to feed you the next thing the algorithm knows you’ll like.”
Despite sky-high engagement, monetizing short videos remains an uphill battle. Unlike long-form YouTube content, where ads can be inserted throughout, short clips offer limited space for advertisers. Creators, too, are feeling the squeeze.
“It’s never been easier to go viral,” said Enberg. “But it’s never been harder to turn that virality into a sustainable business.”
Last year, TikTok generated an estimated $23.6 billion in ad revenues, according to Oberlo, but even with this growth, many creators still make just a few dollars per million views. YouTube Shorts pays roughly four cents per 1,000 views, which is less than its long-form counterpart. Meanwhile, Instagram has leaned into brand partnerships and emerging tools like “Trial Reels,” which allow creators to experiment with content by initially sharing videos only with non-followers, giving them a low-risk way to test new formats or ideas before deciding whether to share with their full audience. But Meta told CNBC that monetizing Reels remains a work in progress.
While lawmakers scrutinize TikTok’s Chinese ownership and explore potential bans, competitors see a window of opportunity. Meta and YouTube are poised to capture up to 50% of reallocated ad dollars if TikTok faces restrictions in the U.S., according to eMarketer.
Watch the video to understand how TikTok’s rise sparked a short form video race.
The X logo appears on a phone, and the xAI logo is displayed on a laptop in Krakow, Poland, on April 1, 2025. (Photo by Klaudia Radecka/NurPhoto via Getty Images)
Nurphoto | Nurphoto | Getty Images
Elon Musk‘s xAI Holdings is in discussions with investors to raise about $20 billion, Bloomberg News reported Friday, citing people familiar with the matter.
The funding would value the company at over $120 billion, according to the report.
Musk was looking to assign “proper value” to xAI, sources told CNBC’s David Faber earlier this month. The remarks were made during a call with xAI investors, sources familiar with the matter told Faber. The Tesla CEO at that time didn’t explicitly mention any upcoming funding round, but the sources suggested xAI was preparing for a substantial capital raise in the near future.
The funding amount could be more than $20 billion as the exact figure had not been decided, the Bloomberg report added.
Artificial intelligence startup xAI didn’t immediately respond to a CNBC request for comment outside of U.S. business hours.
The AI firm last month acquired X in an all-stock deal that valued xAI at $80 billion and the social media platform at $33 billion.
“xAI and X’s futures are intertwined. Today, we officially take the step to combine the data, models, compute, distribution and talent,” Musk said on X, announcing the deal. “This combination will unlock immense potential by blending xAI’s advanced AI capability and expertise with X’s massive reach.”
Alphabet CEO Sundar Pichai during the Google I/O developers conference in Mountain View, California, on May 10, 2023.
David Paul Morris | Bloomberg | Getty Images
Alphabet‘s stock gained 3% Friday after signaling strong growth in its search and advertising businesses amid a competitive artificial intelligence environment and uncertain macro backdrop.
“GOOGL‘s pace of GenAI product roll-out is accelerating with multiple encouraging signals,” wrote Morgan Stanley‘s Brian Nowak. “Macro uncertainty still exists but we remain [overweight] given GOOGL’s still strong relative position and improving pace of GenAI enabled product roll-out.”
The search giant posted earnings of $2.81 per share on $90.23 billion in revenues. That topped the $89.12 billion in sales and $2.01 in EPS expected by LSEG analysts. Revenues grew 12% year-over-year and ahead of the 10% anticipated by Wall Street.
Net income rose 46% to $34.54 billion, or $2.81 per share. That’s up from $23.66 billion, or $1.89 per share, in the year-ago period. Alphabet said the figure included $8 billion in unrealized gains on its nonmarketable equity securities connected to its investment in a private company.
Adjusted earnings, excluding that gain, were $2.27 per share, according to LSEG, and topped analyst expectations.
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Alphabet shares have pulled back about 16% this year as it battles volatility spurred by mounting trade war fears and worries that President Donald Trump‘s tariffs could crush the global economy. That would make it more difficult for Alphabet to potentially acquire infrastructure for data centers powering AI models as it faces off against competitors such as OpenAI and Anthropic to develop largely language models.
During Thursday’s call with investors, Alphabet suggested that it’s too soon to tally the total impact of tariffs. However, Google’s business chief Philipp Schindler said that ending the de minimis trade exemption in May, which created a loophole benefitting many Chinese e-commerce retailers, could create a “slight headwind” for the company’s ads business, specifically in the Asia-Pacific region. The loophole allows shipments under $800 to come into the U.S. duty-free.
Despite this backdrop, Alphabet showed steady growth in its advertising and search business, reporting $66.89 billion in revenues for its advertising unit. That reflected 8.5% growth from the year-ago period. The company reported $8.93 billion in advertising revenue for its YouTube business, shy of an $8.97 billion estimate from StreetAccount.
Alphabet’s “Search and other” unit rose 9.8% to $50.7 billion, up from $46.16 billion last year. The company said that its AI Overviews tool used in its Google search results page has accumulated 1.5 billion monthly users from a billion in October.
Bank of America analyst Justin Post said that Wall Street is underestimating the upside potential and “monetization ramp” from this tool and cloud demand fueled by AI.
“The strong 1Q search performance, along with constructive comments on Gemini [large language model] performance and [AI Overviews] adoption could help alleviate some investor concerns on AI competition,” Post wrote in a note.