California collected an extra $11 billion in tax revenue due to a surge in AI-linked tech stocks boosting capital gains for wealthy residents, exceeding forecasts significantly. AI-driven stock gains from companies like Nvidia propelled the windfall, lifting general-fund revenue above estimates. The boost arrives amid weak job growth and stagnant consumer spending in the state. […]
Source: https://en.coinotag.com/californias-nvidia-driven-ai-stock-gains-yield-11b-tax-boost-amid-deficit-risks
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