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Cognition, which developed an autonomous AI software engineer named Devin, has raised more than $1 billion at a pre-money valuation of $25 billion ($26 billion post-money valuation), the company announced Wednesday. That’s a big jump from its $10.2 billion post-money valuation just eight months ago, when it closed a $400 million funding round in September. The round was led by Lux Capital, General Catalyst, and 8VC, with participation from existing investors Elad Gil, Soma Capital, Omri Casspi, Founders Fund, and many others. New investors also participated in this round, including Ribbit Capital, Atreides, and Layer Global. This is a huge…
Ferrari unveiled the Ferrari Luce electric car in May 2026 in the emblematic setting of the Vera di Calatrava in the Città dello Sport in Rome. (Ferrari Spa)ferrari spaIn response to the intense backlash following the revelation, ferrari’s The CEO of rival luxury car maker Lamborghini, which developed the first fully electric car, the Luce, said his company made the right decision to cancel its EV plans.Lamborghini CEO Stefan Winkelmann said on Wednesday that the company’s decision to discontinue versions of its all-electric Lanzador and SUV Urus to focus on plug-in hybrid electric vehicles was the “right path” for the…
CNBC’s Jim Cramer said Wednesday that investors should stop worrying about how much stocks have already gone up and instead focus on how much upside they still have left. “Don’t worry about where the stock price was. Concentrate on where the stock price is going,” the “Mad Money” host said. “That’s becoming my watchword for this exploding market.”His comments come as many of the market’s biggest winners, particularly artificial intelligence and data center stocks, continue to rise after posting strong gains already this year. Cramer said one of the biggest mistakes investors make is assuming a stock is “too expensive”…
Eight staff members at a backpacker hostel in Laos have been detained by local authorities during an investigation into the deaths of six foreign tourists from suspected methanol poisoning, according to Southeast Asian state media. The deaths of two Australian teenagers, a British woman, an American man and two Danish women, as well as reports of other infections, prompted warnings from Western countries last week that consuming alcohol contaminated in Laos could have deadly consequences. The employees of Nana Backpacker Hostel in the northern town of Vang Vieng, all Vietnamese nationals aged between 23 and 44, were arrested by local…
Meta is doubling down on subscription services. On Wednesday, the social networking giant announced it would roll out consumer subscription plans for its flagship apps Instagram, Facebook, and WhatsApp globally and begin testing new subscriptions for businesses, creators, and Meta AI users. Consumers who subscribe to Instagram Plus ($3.99 per month), Facebook Plus ($3.99 per month), or WhatsApp Plus ($2.99 per month) will be able to access additional features such as profile customization, super reactions, and story insights for a few dollars per month. Naomi Gleit, head of product at Meta, said in the announcement that “even more fun features”…
Austan Goolsby, President of the Federal Reserve Bank of Chicago, speaks at the 29th Milken Institute World Conference at the Beverly Hilton on May 6, 2026 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty ImagesChicago Fed President Austan Goolsby said Thursday that energy inflation caused by the Iran war is lasting longer than expected, causing a “stagflation shock” for Asian economies.Speaking with CNBC’s Kaori Enjoji at the Bank of Japan’s IMES conference, Goolsby said that initial forecasts in the futures market expected energy prices to be “much lower” than current levels.There are signs of progress in peace…
Small cap ETF trader I.W.M. People may be nervous ahead of Thursday’s set of U.S. economic data, including the latest reading of the Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation.It was up 40% in the past year, compared to 27% the year before. S&P500 and 39% Nasdaq-100 – Option traders russell 2000. Put trading activity accounted for more than 70% of all option premiums exchanged on Wednesday, compared to 60% in 2018. QQQ and less than 40% spy.According to ThinkOrSwim data, the volume of trades in put contracts is almost three times higher than…
sales force CEO Marc Benioff has laid out a strategy to weather the sharp downturn in stock prices, focusing on delivering strong products to customers and continuing to buy back shares.”We remain focused on the success of our customers,” Benioff said Wednesday on “Mad Money.” “We intend to continue to grow our revenues and provide significant cash flow.”Salesforce stock has struggled this year amid growing concerns that generative AI platforms from companies like Anthropic and OpenAI could disrupt traditional software providers. Despite the better-than-expected earnings, the stock fell another 1.5% in after-hours trading on Wednesday as investors focused on softer-than-expected…
An Australian teenager has become the sixth foreign tourist to die in a suspected mass methanol poisoning in Laos, as a growing list of countries warn that consuming contaminated alcohol in the Southeast Asian country can have deadly consequences. A British woman, another Australian teenager, an American and two Danish nationals have also been killed in recent days in a spate of suspected poisonings in the popular backpacker destination of Vang Vieng, authorities said. Holly Bowles, 19, remained on life support in critical condition for several days in neighboring Thailand after evacuating from Laos after a night out, CNN affiliate…
Google I/O has officially announced it. AI-generated answers are now at the forefront of search, and most brands have little visibility into how AI speaks to their customers. For those who have spent years building their strategies around 10 blue links, the rules have changed in a very important way. On this episode of TechCrunch’s Equity podcast, Rebecca Bellan interviews Matt Thompson, vice president of partnerships at Scrunch, a startup at the center of the AI search shift, about what Google’s changes mean and what marketers and founders should actually do about it. Listen to the full episode and hear…