Author: Editor-In-Chief

Intuit CEO Sasan Goodarzi speaks during the opening night ribbon cutting ceremony at Intuit Dome on August 15, 2024 in Los Angeles.Amy Sussman | Wire Images | Getty ImagesTax/finance software maker intuition announced Wednesday that it will cut 17% of its full-time workforce. It is the latest tech company to announce major layoffs amid the artificial intelligence boom. Shares fell 13% in extended trading.The decision will affect more than 3,000 people, based on the company’s last reported workforce of 18,200. Intuit said the restructuring is expected to result in costs of $300 million to $340 million, primarily in the current…

Two Washington, D.C., police officers have sued President Donald Trump’s administration over its decision to establish a $1.776 billion fund to compensate victims of alleged government “use of weapons.”In a lawsuit filed Wednesday, board members Harry Dunn and Daniel Hodges call the fund “the most brazen act of presidential corruption in this century.”Recommended stories list of 3 itemsend of listThey aim to dissolve the fund to prevent taxpayer funds from being disbursed to participants in the January 6, 2021, attack on the U.S. Capitol.That day, thousands of Trump supporters stormed Congress in an apparent attempt to block the certification of…

summary Indian leader Narendra Modi has renewed his call for Indian couples to host their weddings at home rather than abroad. Prime Minister Modi wants to preserve India’s foreign exchange reserves under economic strain from the Iran war. Prime Minister Modi has also asked Indians to refrain from buying gold for a year. AI-generated summaries were reviewed by CNN editors. Growing up in India, Shubhangi Seth always envisioned her dream wedding on the enchanting shores of Italy’s Lake Como, surrounded by beautiful high mountains and crystal-clear blue waters. It’s where George and celebrities like Amal Clooney, John Legend, and Chrissy…

SpaceX’s IPO filing says Elon Musk’s xAI had just $3.2 billion in revenue in 2025 and lost $6.4 billion from its operations. And losses are expected to widen further. SpaceX’s filing reveals plans to scale Grok to “trillions of parameters,” which will likely require significant additional computing spending. Elon Musk announced in February that he would merge xAI, the AI ​​company that had acquired his social media platform X (formerly Twitter), with his rocket and satellite company SpaceX, and then take the combined company public this year. While AI competitors OpenAI and Anthropic are also aiming to go public in…

It’s been a while Nvidia This profit shocked the world, or maybe just traders.According to Cboe LiveVol data, option pricing has overestimated the size of NVIDIA’s post-report swings six of the past seven quarters and 14 of the past 20 quarters. The implied volatility reflected in returns averages 6.7%, while the actual average response rate is 4.6%.Perhaps traders are wiser this time. The world’s largest company’s implied volatility hit its highest since March on Friday and fell amid a slide in stock prices this week, with current expectations downgraded to a 5.9% move.Arrow pointing outside zoom in iconThis will likely…

SpaceX spent $131 million on CybertrucksTesla Cybertrucks in front of the company’s store in Colma, California, US, on Monday, Nov. 10, 2025. David Paul Morris | Bloomberg | Getty ImagesSpaceX revealed that it spent $131 million on Tesla Cybertrucks in 2025, purchased at the manufacturer’s suggested retail price.Those purchases followed a high number of voluntary recalls of Tesla’s electric pickup trucks, due to safety issues and declining consumer interest.SpaceX also said it bought $697 million worth of Tesla’s Megapack battery energy storage systems in 2024 and 2025. Tesla previously disclosed the Megapack purchases by xAI.—Lora KolodnyMusk stock awards vest when…

President Donald Trump speaks to members of the media upon arriving at Joint Base Andrews, Maryland, on May 20, 2026.Evelyn HochsteinReuterCongress has the best chance of blocking in court the controversial $1.8 billion “legal costs” compensation fund created by the Justice Department to settle President Donald Trump’s lawsuit against the Internal Revenue Service, former federal prosecutors told CNBC on Wednesday.Both lawyers, now in private practice, said there is ample legal basis for members of Congress to challenge the use of taxpayer funds for the fund, which allegedly pays people unfairly targeted by the Justice Department under the Biden administration.Two days…

It feels like short video clips from podcasts, songs, and movies are suddenly everywhere on social media right now, and that’s not an accident. Brands have realized that the format offers a highly cost-effective way to market products. Brands and marketing agencies often outsource the process of finding the most compelling 30 to 90 seconds of a video, known as ‘clipping’, to independent creators. But managing these gig workers and determining exactly where to distribute those videos presents a massive operational challenge. Clouted, a startup that went through the a16z’s Speedrun accelerator in 2024, is building the infrastructure to automatically…

Eli Lilly announced that it had uncovered a long-running scheme to steal more than $200 million in kickbacks from the company’s diabetes drug Trulicity, and accused several major Pentecostal church bishops of fraud.The company filed a 66-page civil lawsuit Tuesday in U.S. District Court in Miami.Here’s how the plan worked, according to Lilly: A Florida mail-order pharmacy called Drug Place had been purchasing large quantities of Trulicity over the years through authorized distributors, claiming the drugs were being dispensed to patients who were members of a church. However, Lilly alleges that Drug Place was in fact collecting fraudulent kickbacks from…

Goldman Sachs is soaring after securing a key role in SpaceX’s historic IPO. Elon Musk’s rocket company has chosen the bank for its record-setting public debut, according to a prospectus filed Wednesday. The deal is a financial windfall and could give Goldman’s trading arm a leading role in other major IPOs expected in the near future, including OpenAI and Anthropic. “This is a huge win for Goldman Sachs and confirms its Investing Club stock in pole position among all major companies,” said Jim Cramer. Goldman stock rose nearly 6% on Wednesday. SpaceX’s IPO is expected to be the largest in…