Facebook owner Meta Platforms will buy artificial intelligence chips from Advanced Micro Devices in a deal that will also give it the opportunity to buy up to a 10% stake of the chip company.

Meta will buy AMD’s latest chips, the MI450, to help power data centers. The agreement could potentially be worth more than $100 billion.

FedEx joins US firms in seeking tariff refund

FedEx is suing the U.S. government, requesting a full refund on what it paid for tariffs set by President Donald Trump last year after the Supreme Court ruled that the tariffs are illegal.

FedEx said in a filing with the U.S. Court of International Trade that they have “suffered injury” from having to pay the tariffs and that the relief they’re seeking from the court would redress those injuries.

US consumer confidence improves modestly

The American consumer’s confidence in the U.S. economy improved slightly in February after cratering a month earlier.

The Conference Board said Tuesday that its consumer confidence index rose to 91.2 in February from an upwardly revised 89 last month.

US stocks rise, recovering some losses

The U.S. stock market rose after getting a reminder that the artificial-intelligence technology boom may also have an upside.

The S&P 500 climbed 0.8% Tuesday and recovered nearly three-quarters of its loss from the day before, when worries worsened that AI could make some industries obsolete. The Dow Jones Industrial Average rose 0.8%, and the Nasdaq composite gained 1%.

Government penalizes businesses over deaths

Federal workplace safety regulators have penalized three businesses over their failure to protect six Colorado dairy workers who were killed by exposure to highly toxic hydrogen sulfide gas after a manure pipe disconnected in an enclosed space.

The U.S. Occupational Safety and Health Administration announced the proposed fines Tuesday.

Home Depot tops expectations in 4Q

Home Depot’s fiscal fourth-quarter performance was muted, as there was ongoing caution by American consumers amid a weak housing market.

But the home improvement retailer’s adjusted earnings and revenue managed to top Wall Street’s expectations. The Atlanta-based company earned $2.57 billion, or $2.58 per share, for the three months ended Feb. 1.

Top Court rules Postal Service can’t be sued

A divided Supreme Court has ruled that Americans can’t sue the U.S. Postal Service, even when employees deliberately refuse to deliver mail.

By a 5-4 vote Tuesday, the justices ruled against Texas landlord Lebene Konan, who alleges her mail was intentionally withheld for two years. Konan is Black and claims racial prejudice played a role in postal employees’ actions. Justice Clarence Thomas wrote in his majority opinions the federal law that generally shields the Postal Service from lawsuits over missing, lost and undelivered mail includes “the intentional nondelivery of mail.”

US displeased about strikes aimed at Russia

The State Department has expressed its displeasure over Ukraine’s recent attacks on the Russian port of Novorossiysk that have impacted U.S. oil interests in Kazakhstan.

Ukrainian Ambassador Olga Stefanishyna noted the U.S. concern on Tuesday, the fourth anniversary of Russia’s invasion of Ukraine.