Author: Editor-In-Chief
Amazon Executive Chairman Jeff Bezos on Wednesday called for zero federal income taxes for the bottom half of earners.Bezos told CNBC’s Andrew Ross Sorkin that the top 1% of taxpayers pay about 40% of all tax revenue, while the bottom half pays 3%.”I don’t think it should be 3%,” Bezos said. “I think it should be zero.”The bottom half of taxpayers will have an adjusted gross income of nearly $54,000 in 2023, according to the Tax Foundation, citing the latest IRS statistics. In contrast, the top 1% of households earned at least $676,000 that year.Read more CNBC’s personal finance coverageBezos…
This pool photo distributed by Russian state agency Sputnik shows Russian President Vladimir Putin and Chinese President Xi Jinping inspecting a photo exhibition on Russia-China relations in Beijing on May 20, 2026. (Photo by Alexander KAZAKOV/POOL/AFP via Getty Images)Alexander Kazakov AFP | Getty ImagesRussian President Vladimir Putin left Beijing on Wednesday with a declaration of lasting friendship with China and a stack of bilateral agreements, but there was no energy pipeline breakthrough that Russia had been eyeing, indicating that the geometry of the partnership is evolving and increasingly tilted in China’s favor.Gas trading has made little progressThe two leaders were…
The Wall Street Journal reported that Anthropic told investors that its revenue more than doubled to about $10.9 billion in the second quarter, marking its first operating profit. This is a major milestone and rapid quarter-over-quarter growth that puts the company in a favorable position compared to its main competitor, OpenAI. However, WSJ reports that it will incur huge computing costs and may not be profitable for the entire year. These financial information were recently shared with the company’s investors as part of a funding round. The startup has grown in popularity over the past year as more professionals prefer…
Making new friends can be scary. There’s always the risk of being rejected or saying the wrong thing.I’ve been researching and reporting on friendships for 10 years. I also wrote a book about why friendships are failing right now, even though it’s easier than ever to stay in touch. Building lasting friendships requires more than just someone who is interested in you. The most lasting friendships are those that allow you to marvel at the world together. It’s an exchange of equals where we talk about what we both value. Use any of these five questions to help create meaningful…
Meta CEO Mark Zuckerberg and Tesla and SpaceX CEO Elon MuskManuel Orbegoso | Chip Somodevilla | ReutersIf SpaceX eventually goes public on the Nasdaq under the ticker symbol SPCX, it will almost certainly set a record for the largest stock in history. Not far away. Elon Musk’s reusable rocket maker filed its long-awaited IPO prospectus on Wednesday. The company has not disclosed how much it plans to raise, but it is reportedly aiming to raise about $75 billion. That’s more than three times the size of the largest U.S. IPO ever. alibabamade a $22 billion offer in 2014. The next…
Immad Akhund, CEO and co-founder of startup Mercury;Provided by: Mercury TechnologiesMercury, a fintech company that provides banking services to startups, has raised $200 million in funding at a valuation of $5.2 billion, CNBC has learned exclusively.The valuation is 49% higher than the San Francisco-based company’s previous funding round just 14 months ago, overcoming the downturn faced by much of the fintech sector.The Series D round was led by venture firm TCV, a backer of other well-known fintech companies such as Revolut and Revolut. Nubank Mercury CEO Imad Akhand told CNBC that existing investors include Sequoia Capital, Andreessen Horowitz and Courtue.Mercury…
Canada – 2025/08/07: In this illustrated photo, the SoftBank Group (SoftBank) logo is displayed on the smartphone screen. (Photo illustration: Thomas Fuller/SOPA Images/LightRocket, Getty Images)Sopa Images | Light Rocket | Getty Imagesshares of Softbank Group skyrocketed on Thursday following blockbuster profits from Nvidia Overnight, it showed strong momentum in the field of artificial intelligence.SoftBank Group stock had been declining for five consecutive sessions, but rose 19.8% on Thursday, adding about $35 billion to its market capitalization.The company’s fortunes are closely tied to the AI boom through its stake in Arm Holdings and its investment in OpenAI, whose chip designs are…
Earlier this month, Anthropic surprised the AI world by signing a deal to buy 300 megawatts worth of computing. This secures the entire output of the Colossus 1 data center near Memphis, Tennessee. As it turns out, computing at this scale doesn’t come cheap. Anthropic plans to pay xAI $1.25 billion per month through May 2029, with discounted rates for the first two months as xAI completes its ramp-up. All told, the deal could net xAI more than $40 billion in revenue. Details of the transaction were revealed in SpaceX’s S-1 filing with the SEC. The company said the deal…
The founder of Authentic Brands Group, a management company that controls dozens of retail and media names including Reebok, Champion and Brooks Brothers, said he plans to take the company public within the next 12 months, consistent with previous announcements. Wynn Resorts The CEO becomes the next chief executive officer. In an exclusive interview with CNBC’s Sarah Eisen, Jamie Salter said Matt Maddox, who joined Authentic as president in January 2025 after a 20-year career at Wynn, will become CEO, allowing Salter to transition to executive chairman.Asked if this meant the company was headed for an initial public offering, Salter…
NVIDIA founder and CEO Jensen Huang waves after a welcoming ceremony for US President Donald Trump at the Great Hall of the People in Beijing on May 14, 2026. Brendan Smialowski AFP | Getty ImagesNvidia CEO Jensen Huang said the company had “significantly conceded” China’s artificial intelligence chip market to Huawei as U.S. export restrictions continue to reshape the global AI semiconductor landscape.Huang’s comments came as Nvidia reported another blockbuster quarter, with revenue surging 85% to $81.62 billion from $44.06 billion a year earlier. The company also announced an $80 billion share buyback program and increased its dividend.However, China remained…