Author: Editor-In-Chief
Three weeks ago, Elon Musk’s AI company xAI announced it had raised $20 billion in a Series E funding round. Now it turns out that Tesla is one of the investors. Tesla said in a letter to shareholders Wednesday that it has invested $2 billion in xAI, the Grok chatbot startup that also owns Musk’s social media company X. Previously disclosed investors in xAI include Valor Equity Partners, Fidelity, Qatar Investment Authority, as well as NVIDIA and Cisco as “strategic investors.” This is a truly circular deal, and Tesla shareholders voted against it last year. In November, Tesla asked shareholders…
CNBC’s Jim Cramer said that for investors struggling to make sense of volatile markets, focusing on scarcity as a key determinant of stock performance provides clarity.”When in doubt, ask whether the company in question is selling a shortage or an excess,” Kramer said Wednesday night on “Mad Money.” “If it’s the former, you can buy it, but if it’s the latter, you should stop avoiding it.”Kramer called the framework “the best cheat sheet I can offer at this point in earnings season,” adding, “Scarcity is the true north, oversupply is the kiss of death.” But that may not be obvious…
On January 26, 2024, the SK Hynix flag (R) and the Korean national flag (L) fly outside the Bundang office in Seongnam City. Jung Young Jae | AFP | Getty ImagesSK Hynix maintained its lead in high-bandwidth memory used in artificial intelligence chips, surpassing rival Samsung Electronics in operating profit for the first time in 2025. This week, two Korean memory manufacturers faced off, with SK Hynix announcing its financial results on Wednesday and Samsung announcing its financial results on Thursday morning local time.SK Hynix recorded full-year operating profit of 47.2 trillion won, exceeding Samsung’s 43.6 trillion won. The comparison…
Two great goals from Joao Pedro helped Chelsea beat Napoli 3-2 and advance to the Round of 16 of the Champions League in sixth place.The Blues were in a precarious position heading into the final, remaining in the top eight on goal difference as they hoped to avoid two extra games in the knock-out play-offs. Chelsea got off to a perfect start, despite being awarded an early penalty. Juan Jesus was penalized for handballing a Blues free-kick, which was converted by Enzo Fernandes despite Napoli’s protests. But the setback seemed to energize Napoli. Enzo Fernandes has a 100% penalty success…
Mark Zuckerberg spoke about Meta’s ambitions for its AI smart glasses business during Meta’s Q4 2025 earnings call on Wednesday. After pivoting its Reality Labs investment away from Metaverse, Meta is doubling down on its production of AI wearables and its own AI models. “Billions of people wear glasses or contacts to correct their vision, and I think we’re at a similar point in time to when smartphones came out. It was clearly a matter of time before all these flip phones became smartphones,” Zuckerberg said. “It’s hard to imagine a world in a few years where most of the…
Mark Zuckerberg, CEO of Meta Platforms, Inc., during the MetaConnect event on Wednesday, September 17, 2025 in Menlo Park, California, USA. David Paul Morris | Bloomberg | Getty ImagesMeta CEO Mark Zuckerberg plans to increase his company’s spending on artificial intelligence in 2026. Wall Street seems fine with that strategy. In Wednesday’s fourth-quarter earnings report, Meta posted higher sales and bottom line results, while also revealing that AI-related capital spending this year will range from $115 billion to $135 billion. That’s nearly double the amount Meta spent on capital expenditures when it revamped its AI division last year.Investors had previously…
Mark Zuckerberg says Meta users will start seeing the company’s new AI models and products in the coming months. “In 2025, we rebuilt the foundation of our AI program,” Zuckerberg said on an investor call Wednesday, referring to the company’s recently reorganized AI lab. “Over the coming months, we will begin shipping new models and products…and we look forward to steadily pushing the frontier through the new year.” However, Zuckerberg did not provide specific timelines or products, but highlighted AI-driven commerce as an area of particular focus for Meta. “This has implications for commerce,” Zuckerberg continued. “Our new Agent Shopping…
Gold continued its relentless rally on Thursday, hitting a new record high above $5,500 an ounce. According to LSEG data, spot gold prices rose more than 3% and last traded at $5,501.18 per ounce. February gold futures rose more than 3% to $5,568.66 an ounce. Spot silver prices rose more than 2% to $119.3 an ounce, while March U.S. silver futures prices rose nearly 5% to $118.73 an ounce. Silver surpassed $117 an ounce for the first time on Thursday after rallying more than 145% in 2025, according to LSEG data. The white metal is up about 65% so far…
Meta CEO Mark Zuckerberg gives a speech introducing Meta’s new line of smart glasses wearing Meta Ray-Ban display glasses during the MetaConnect event held at the company’s headquarters in Menlo Park, California, USA on September 17, 2025. Carlos Barria | Reutersmeta Efforts to build a digital world known as the Metaverse continue to be costly.The company reported fourth-quarter results on Wednesday, saying its Reality Labs division posted an operating loss of $6.02 billion on revenue of $955 million. Analysts had expected Reality Labs to post an operating loss of $5.67 billion on revenue of $940.8 million in the fourth quarter.Reality…
Two staff members have been placed on leave amid continued outrage over the shooting death of intensive care nurse Alex Pretty during an immigration investigation.Two U.S. federal officers involved in the shooting death of intensive care nurse Alex Preti during an immigration raid in Minneapolis have been placed on administrative leave as the fallout from the recent killing of Americans continues to spark outrage.The two officers have been on leave since Saturday, following “standard procedure” that U.S. officials announced Wednesday, during an altercation in which Preeti was pushed to the ground by masked immigration agents and shot multiple times, which…