NEW YORK — Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher Thursday after a rush of profit reports from some of the country’s most influential companies. The Standard & Poor’s 500 rose 0.5%, as 4 in 5 stocks in the index climbed. The Dow Jones industrial average added 0.4%, and the Nasdaq composite gained…
US government faces a “Fork in the road,” just as Twitter did when Musk bought the company in 2022. Musk’s Twitter job cuts were partly driven by the need to save money for big debt payments. US government debt has also soared, leaving annual interest payments over $1 trillion. President Donald Trump‘s administration has launched…
DeepSeek has sent shockwaves through the technology, financial, and geopolitical spheres. The low-cost Chinese AI chatbot won’t surprise anyone who knows Beijing’s playbook. Chinese has disrupted many industries in similar fashion, including mining and electric vehicles. A Chinese startup’s launch of a ChatGPT rival has startled tech gurus, stunned investors, and stupefied geopolitical commentators. But…
Microsoft co-founder Bill Gates praised the world’s richest man Elon Musk’s work, saying he “admires a lot he’s done”, but admitted that the Tesla chief’s comments on European politics “surprised” him. In an interview with the Wall Street Journal (WSJ), Bill Gates reflected on his childhood, autism and early start of Silicon valley tech juggernaut…
On its last business day, the Biden administration issued a report that now has an unlikely fan. Elon Musk is using the report as evidence in his antitrust suit against Sam Altman and OpenAI. Biden’s outgoing DOJ also weighed in on Musk’s behalf. Former President Joe Biden left Elon Musk what amounts to a parting…
Good morning. The S&P 500 closed at a record high yesterday for the first time since early December, fueled by comments from President Donald Trump calling for lower oil prices and interest rates. The comments were part of Trump’s speech at the World Economic Forum in Davos, which is the focus of today’s newsletter. BI…
Sam Altman’s new AI joint venture, Stargate, has drawn criticism from Elon Musk. Musk said on X that Stargate didn’t have the funds to build AI infrastructure. Altman has responded. The exchange between the pair is another chapter in their long-running feud. Elon Musk took to X to post a jab at Sam Altman after…
TikTok went dark for 170 million US users on Saturday. Users have taken to other corners of the internet to react to the shutdown. Internet personality James Charles, who boasted over 40 million followers, called the move “dystopian.” TikTok shut down its app for 170 million US users on Saturday as the deadline for the…
Bank of America sees small-cap stocks as key indicator to watch for the broader stock market. High concentration in a handful of stocks and elevated valuations limit stock market upside, BofA said. Small-cap stocks face challenges from high interest rates, affecting profitless companies. Bank of America said in a Friday note that one key area…
Co-leading DOGE means Elon Musk is spread increasingly thin. Tesla shareholders told BI that Musk’s position could help reduce regulatory red tape for the EV giant. Others said Musk proved his ability to multitask and DOGE has an expiration date. With his new role co-leading the Department of Government Efficiency, Elon Musk has another plate…