A federal jury’s emphatic rejection of Elon Musk’s claims against Sam Altman and OpenAI cleared a major legal obstacle for the ChatGPT maker’s ambitious plans to become a trillion-dollar public company, but not without exposing deep tensions at the heart of the artificial intelligence boom. The closely watched trial laid bare bitter power struggles inside
Plug Power, a company that was on the verge of bankruptcy, has staged a strong comeback this year and is beating the broader market. It has jumped by 51% this year and by over 330% in the last 12 months. This surge has brought its market cap to over $5.3 billion, even as the short
Income-focused investors are in a real dilemma as government bond yields surge amid the rising inflation rate in the United States. Do they invest in the blue-chip Schwab US Dividend Equity ETF (SCHD) or invest in the higher-yielding JPMorgan Premium Income ETF (JEPI). JEPI, SCHD, and 10-year government bonds Bond investors argue that yields are
Software stocks rallied sharply on Tuesday, extending a rebound in a sector that had come under intense pressure this year amid concerns that artificial-intelligence agents could threaten traditional enterprise software providers. In US, shares of enterprise software companies moved broadly higher, with ServiceNow (NOW) leading gains after a strong rally in the previous session. The
Strategy (previously known as Microstrategy) MSTR, the bitcoin treasury company led by executive chairman Michael Saylor, disclosed Monday that it acquired an additional 24,869 bitcoin for approximately $2.01 billion between May 11 and May 17. According to an 8-K filing with the Securities and Exchange Commission, the company purchased the bitcoin at an average price
Shares of Dominion Energy surged in trading on Monday after utility giant NextEra Energy announced plans to acquire the company in a $66.8 billion deal that would create the largest electric utility operator in the United States. Dominion shares (D) rose about 10% following the announcement, while NextEra Energy stock slipped more than 3.6% as
US stocks opened cautiously on Monday as investors monitored rising Treasury yields, elevated oil prices, and ongoing tensions in the Middle East following a volatile end to last week’s record-setting rally. The Dow Jones Industrial Average fell roughly 44 points, or 0.08%, while the S&P 500 was unchanged. The Nasdaq Composite was up by 0.13%.
Shares of UnitedHealth Group (UNH) fell over 2% on Monday after Berkshire Hathaway disclosed that it had exited its entire position in the health insurer during the first quarter, ending a brief but closely watched investment. The healthcare giant’s stock had recently staged a strong rebound, posting its seventh consecutive weekly gain after rising about
Europe’s soaring electricity prices are threatening its ambitions to compete with the US and China in artificial intelligence, as power-hungry data centers face mounting costs and investors increasingly look elsewhere, according to a CNBC report. Experts warn that without cheaper energy, Europe risks falling far behind in the AI race. Europe has set its sights
Zeta Global stock price jumped by over 4% on Friday in a high-volume environment after the company joined the Open Semantic Exchange (OSI), an initiative by Snowflake. ZETA jumped to $17.6, its highest point since May 7 as focus shifts to the upcoming JPM Global Technology, Media, and Communications Conference. Zeta Global stock jumped after