Author: Editor-In-Chief
OpenAI announced Monday that it has confidentially filed for an IPO in what could be one of the defining public offerings of the decade. Business Insider reports that OpenAI CEO Sam Altman’s other company, Tools for Humanity, is also cutting jobs. TechCrunch has reached out to the company for confirmation. You might know more about Tools for Humanity through its validation project known as World and its associated device, a creepy silver orb that attempts to scan your eyeballs. The idea is that the company will be able to use its proprietary iris scans to verify people’s identities, allowing it…
Tom Lee thinks fears that the market won’t have the liquidity to handle the huge IPOs planned for this year, including Friday’s SpaceX Inc., are overdone. Fundstrat’s managing partner and head of research appeared on CNBC’s “Power Lunch” on Monday and said clients are concerned that SpaceX’s IPO will top a market that has soared on the strength of artificial intelligence. He said such concerns were “misplaced”. “There’s still $7 trillion in cash sitting around,” he said. “We think the market will not only absorb this IPO well, but the post-IPO market will also do well, as wealthy customers have…
US President Donald Trump has warned Israeli Prime Minister Benjamin Netanyahu that if Israel returns to war with Iran, it may end up fighting alone.Monday’s warning came as Israel and Iran announced a pause in attacks following the most serious escalation of attacks since a cease-fire took effect in April.Recommended stories list of 3 itemsend of listPresident Trump, who is reportedly increasingly angry with Prime Minister Netanyahu, called on both sides to stop “shooting” posts on the Truth social platform and said “final negotiations” for peace would proceed “despite ignorance and stupidity that may get in the way.”Media reports said…
Berlin/ParisReuters — The leaders of Germany and France have agreed to halt a landmark project to develop and manufacture a new generation of fighter jets, bowing to industrial tensions over Europe’s most ambitious defense plan, officials said Monday. German Chancellor Friedrich Merz and French President Emmanuel Macron discussed the troubled project on the sidelines of the EU-Western Balkans summit in Montenegro last week and concluded there was no prospect of resolving the months-long impasse between weapons companies involved in the project, German officials said. For this reason, Mr. Merz advised Mr. Macron not to proceed with the construction of a…
In recent days, founders and founders-turned-investors have visited X to share horrifying stories of abuse at the hands of VCs. Their complaints range from venture capitalists falling asleep during pitch meetings to investors suggesting that founders fire co-founders. Brendan Foody, co-founder of AI talent platform Mercor (previously valued at $10 billion), even singled out Sequoia, perhaps one of the world’s most elite VC firms. “The ‘Sequoia Scam’ is worse than any single horror story,” Foudy wrote in X. “In the last six (months), I’ve seen six rounds where Sequoia invests in two tranches. Everyone is pretending that they just gave…
Traders at work at the New York Stock Exchange on June 8, 2026. new york stock exchangeS&P500 futures Stocks fell on Monday night as investors weighed the fragile ceasefire between Iran and Israel.Futures tied to broad market indexes fell about 0.2%. Nasdaq 100 futures It fell by 0.35%. Dow Jones Industrial Average Futures It fell by 148 points (0.29%).Iran halted military attacks against Israel on Monday, but warned it would resume attacks if Israeli forces continue operations in Lebanon, Iran’s Foreign Ministry told CNBC on Monday. Hours later, Israeli Prime Minister Benjamin Netanyahu said the conflict between Iran and Hezbollah…
U.S. emergency crude oil reserves are rapidly dwindling, rapidly approaching the lowest level in 40 years, set under former President Joe Biden. US officials continue to actively deplete the Strategic Petroleum Reserve (SPR) to soften the blow of war with Iran. The SPR fell by another 7.9 million barrels last week, matching the previous week’s decline of 8 million barrels, according to Department of Energy data released Monday. This brings SPR’s crude oil reserves to 349.2 million barrels, the lowest level since August 2023. At this pace, the SPR will fall below 346.8 million this week, the lowest level of…
For years, Apple has been vilified as the biggest loser in the AI arms race. Skeptics say Apple’s lack of a clear AI strategy is hurting its advantage, and Wall Street analysts worry that gap could start to hurt iPhone sales. Now, the company has announced what it is touting as its biggest AI launch to date. Siri AI builds new automation capabilities (powered by a partnership with Google Gemini) into the very bones of the software. Will it be enough to stop people from saying Apple is “losing” the AI race? To be honest, no one really knows. However,…
Beijing’s Lingyi iTech factory is ramping up production of humanoid robots for various startups.CNBC | Evelyn ChenHello, I’m Evelyn. I am writing to you from Beijing. Welcome to the latest edition of The China Connection. This is a snapshot of what I’ve seen and heard from local businesses.Humanoids are popping up everywhere and may even reshape smartphone manufacturers. Who will survive the bubble?big storyJust a few weeks after opening in late April, the humanoid factory in Beijing says it has already produced 300 robots for customers, increasing towards 10,000 this year. Linyi iTech, a 20-year-old smartphone and electronics manufacturer, aims…
CNBC’s Jim Cramer said Monday. Nvidia’s Growing business with sovereign nations could help ease investor concerns about the company’s reliance on a small number of hyperscale customers.”NVIDIA doesn’t want to be hostage to customers who are doing everything in their power to get out of NVIDIA,” the “Mad Money” host said. “We’re trying to turn everyone into a customer.”Investors are aware that major cloud providers such as: Amazon and alphabet Developing its own AI chips could ultimately reduce its dependence on Nvidia. But Kramer said NVIDIA is increasingly finding new sources of demand through its sovereign AI efforts as governments…