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Bitfarms

Bitfarms Ltd engaged in the cryptocurrency Mining industry mainly consists of selling its computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. Its geographic operations are currently located in Canada, the United States, Argentina. It owns and operates server farms comprised of computers designed to validate transactions on the Bitcoin Blockchain.

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RIOT

最近、ビットコイン（仮想通貨：BTC）マイニング会社ライオットプラットフォーム（NASDAQ:RIOT）は、ライバル企業ビットファーム（NASDAQ:BITF）に対する持ち株比率を12%に引き上げました。

ライオットプラットフォームがビットファームの持ち株比率増加

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BITFRONTIER CAPITAL HLDGS by BitFrontier Capital Holdings, Inc.

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BitFuFu Inc

Chamath Palihapitiya says the true dividend of college isn't a diploma but "culture."
What Happened: During the latest All-In podcast, the Social Capital founder told co-host David Friedberg, "My son is a rising junior and his entire focus is that he wants to go to an SEC school because of the culture."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Chamath on sending his kids to college: Culture &gt; Credentials<a href="https://twitter.com/friedberg?ref_src=twsrc%5Etfw">@friedberg</a>: &quot;As a parent, I think a lot about, so much of education in America in the middle class, upper class is all about what college, how do you get them there?&quot; &quot;And honestly, lately I&#39;m like, I don&#39;t think… <a href="https://t.co/aR2aXlF8U3">pic.twitter.com/aR2aXlF8U3</a>
&mdash; The All-In Podcast (@theallinpod) <a href="https://twitter.com/theallinpod/status/1924975045379604565?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
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Palihapitiya conceded his own mindset has flipped. "Two years ago I would&#8217;ve panicked … and now I&#8217;m like, that&#8217;s actually the best thing you could do," he said, adding that college is where young adults get "socially well-adjusted&#8221; and learn to &#8220;… deal with different kinds of failures." The billionaire framed college less as a career gatekeeper, more as years of structured experimentation.
See also: <a href="https://www.benzinga.com/25/05/45534631/jim-cramer-praises-elon-musk-interview-says-he-likes-the-stock-very-much-internet-reacts-its-over">Jim Cramer Praises Elon Musk Interview, Endorses Tesla—Will His Call Age Well? Internet Says &#8216;It&#8217;s Over&#8217;</a>
Why It Matters: He's hardly alone in down-ranking credentials. Elon Musk has <a href="https://www.benzinga.com/personal-finance/24/04/38319479/elon-musk-thinks-college-is-basically-for-fun-and-to-prove-that-you-can-do-your-chores-says-degr">long argued</a>, "college is basically for fun and to prove that you can do your chores," and calls mandatory degrees "absurd." PayPal co-founder Peter Thiel goes further, paying would-be scholars <a href="https://www.benzinga.com/startups/24/12/42366606/peter-thiel-is-a-stanford-grad-but-thinks-college-is-such-a-waste-that-he-offers-100000-to-students-who-quit-compares-education-to-santa">$100,000 to drop out</a> because he "thinks college is such a waste."
Yet heavyweights still defend the classroom. According to <a href="https://time.com/3908338/bill-gates-college-grads/">an account</a> by TIME, Bill Gates — himself a Harvard dropout — maintains that graduates "are more likely to find a rewarding job, earn higher income, and even … live healthier lives," warning of an 11-million-worker shortfall without more degrees.
The debate lands as U.S. tuition tops $28,000 a year and surveys show half of employers no longer <a href="https://ssti.org/blog/bachelors-degrees-are-no-longer-required-many-jobs">require</a> four-year degrees. The ROI calculus is simple for Palihapitiya: classrooms teach facts, but tailgates teach life.
Photo Courtesy: Kathy Hutchins On Shutterstock.com
Read next: <a href="https://www.benzinga.com/25/05/45534923/elon-musks-xai-plans-3040-billion-gpu-buy-near-memphis-nvidia-set-to-be-the-biggest-winner-says-top-analyst">Elon Musk&#8217;s xAI Plans $30–$40 Billion GPU Buy Near Memphis — Gene Munster Says Its A &#8216;Good Day&#8217; To Be A Nvidia Salesperson</a>

Education

General

Chamath Palihapitiya Says He'd Send His Son To College Only For The Culture, 'The Best Thing You Could Do..'

The odds of the U.S. entering a recession in 2025 have plummeted sharply on prediction platforms, aided by a de-escalation in the U.S.-China trade conflict.
What happened: Wagers in favor of a contract titled "US recession in 2025?" <a href="https://polymarket.com/event/us-recession-in-2025">dropped</a> from a peak of 66% in early April to 39% currently on Polymarket, a Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based platform that allows users to bet using cryptocurrencies.&nbsp;
As of this writing, bookmakers have invested about $5.5 million on the bet. To resolve the outcome to &#8220;Yes,&#8221; the economy must record another quarter of negative growth or the National Bureau of Economic Research must declare a recession before January 1, 2026.
Similarly, recession odds on Kalshi, a federally authorized betting platform, were cut to 38% from 71%. Note that, unlike Kalshi, Polymarket is not <a href="https://www.benzinga.com/24/11/41838037/will-polymarket-return-to-the-us-after-getting-trump-victory-right-ceo-says-its-part-of-the-plan">available to U.S. residents</a> due to regulatory restrictions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After reaching a high of 71% this year, recession odds are now back down to 38% <a href="https://t.co/yESm9K5tyv">pic.twitter.com/yESm9K5tyv</a>
&mdash; Kalshi (@Kalshi) <a href="https://twitter.com/Kalshi/status/1924890643811205373?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
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See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45511186/coinbase-says-justice-department-has-launched-probe-into-its-recent-cyberattack">Coinbase Says DOJ Probing Latest Attack On Its Platform, Clarifies Its Not The &#8216;Subject&#8217; Of The Investigation</a>
Why It Matters: Recession odds <a href="http://benzinga.com/markets/cryptocurrency/25/04/44640419/recession-in-2025-crypto-betters-now-see-over-50-probability-after-trumps-sweeping-tariff-rollout">soared</a> following President Donald Trump's so-called "Liberation Day," which placed sweeping tariffs on trade partners.&nbsp;
The measures sparked a tariff war with China, one of America's biggest trade partners, with the two countries engaging in a tit-for-tat battle for weeks.
However, things eased after the two economic giants announced a <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45339289/bitcoin-taps-105000-ethereum-steady-dogecoin-falls-as-us-announces-china-trade-deal-analyst-says-btc-in-for-a-price-discovery-uptrend-if-it-secures-a-weekly-close-above-this-lev">trade deal</a> in Geneva following high-level talks earlier this month.
These odds were consistent with JPMorgan Chase&#8217;s <a href="https://www.benzinga.com/markets/25/05/45485111/jpmorgan-chase-us-economy-likely-to-skirt-recession-forecasts-sluggish-growth">projection that the U.S. would likely avoid a full-scale recession</a> this year, although a slowdown was on the cards.
Photo Courtesy: Dilok Klaisataporn On Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45512252/want-a-tesla-cybertruck-geminis-new-bitcoin-credit-card-could-be-your-ticket">Want A Tesla Cybertruck? Gemini&#8217;s New Bitcoin Credit Card Could Be Your Ticket</a></li>
</ul>

Econ #s

$POL

Recession Odds Slip Below 40% On Crypto Betting Marketplace As Trump Tariff Fears Fade After China Deal

Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) reported quarterly earnings of $1.55 per share which missed the analyst consensus estimate of $1.60 by 3.13 percent. This is a 20.16 percent increase over earnings of $1.29 per share from the same period last year. The company reported quarterly sales of $473.65 million which beat the analyst consensus estimate of $472.86 million by 0.17 percent. This is a 12.83 percent increase over sales of $419.78 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Wix.com Q1 Adj. EPS $1.55 Misses $1.60 Estimate, Sales $473.65M Beat $472.86M Estimate

Euronav (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMBT#NYSE">CMBT</a>) reported quarterly earnings of $0.21 per share which missed the analyst consensus estimate of $0.26 by 19.23 percent. This is a 91.46 percent decrease over earnings of $2.46 per share from the same period last year. The company reported quarterly sales of $235.04 million which missed the analyst consensus estimate of $255.50 million by 8.01 percent. This is a 2.22 percent decrease over sales of $240.38 million the same period last year.

CMBT

Euronav Q1 EPS $0.21 Misses $0.26 Estimate, Sales $235.04M Miss $255.50M Estimate

Flex LNG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLNG#NYSE">FLNG</a>) reported quarterly earnings of $0.54 per share which beat the analyst consensus estimate of $0.49 by 10.2 percent. This is a 22.86 percent decrease over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $88.44 million which beat the analyst consensus estimate of $87.60 million by 0.96 percent. This is a 1.99 percent decrease over sales of $90.23 million the same period last year.

FLNG

Flex LNG Q1 Adj. EPS $0.54 Beats $0.49 Estimate, Sales $88.44M Beat $87.60M Estimate

On Tuesday, Deepwater Asset Management's managing partner, Gene Munster, noted that Elon Musk's AI enterprise xAI's plans for a massive investment could result in Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) as the biggest beneficiary.&nbsp;
What Happened: In a post on X, formerly Twitter, Munster highlighted Musk's revelation on CNBC that his AI company, xAI, plans to deploy 1 million GPUs near Memphis.
The majority of the 1 million GPUs expected to be deployed will come from Nvidia, with a smaller portion supplied by Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), said Munster, adding that the estimated total cost of acquiring these chips could range between $30 billion and $40 billion.
See Also: <a href="https://www.benzinga.com/general/health-care/25/05/45384935/trump-again-promises-lower-drug-prices-by-cutting-out-middlemen-like-unitedhealth-cvs-will-it-work-this-time?utm_source=articleShare" target="_blank" rel="noreferrer noopener">Trump Again Promises Lower Drug Prices By ‘Cutting Out Middlemen' Like UnitedHealth, CVS: Will It Work This Time?</a>
&#8220;If it was done in CY26, it would account for about 15% of the current Street revenue estimate,&#8221; he stated, adding, &#8220;Good day to be an Nvidia salesperson.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good day to be an Nvidia salesperson. Musk tells CNBC xAI will be implementing 1 million GPUs outside of Memphis (most of which will be Nvidia and some AMD). That&#39;s basically a $30-40B ticket to <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>, or if it was done in CY26, it would account for about 15% of the current…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1924928826645123547?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
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Why It's Important: Nvidia is scheduled to release its first-quarter earnings on May 28 after the market closes. Analysts, as per <a href="https://www.benzinga.com/pro/login">Benzinga Pro</a>, expect the company to post earnings of 89 cents per share on revenue of $43.07 billion.
The stock currently holds a consensus price target of $172.32, based on ratings from 39 analysts. The highest target, $220, was issued by Rosenblatt on Feb. 24, 2025.
Recent updates from BofA Securities, UBS and Seaport Global have set an average price target of $145, indicating a potential upside of 8.21%.
Price Action: Nvidia shares have dropped 0.28% in after-hours trading, currently sitting at $134, according to Benzinga Pro data.
According to Benzinga Edge Stock Rankings, Nvidia holds a robust growth score of 95.02%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other leading tech companies</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21004844/Screenshot-2025-05-21-at-10.18.39%E2%80%AFAM.png" alt="" class="wp-image-922139" /></a></figure>
Photo Courtesy: Hepha1st0s On Shutterstock.com
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/large-cap/25/05/45414265/nvidia-climbs-on-saudi-ai-investments-analyst-estimates-15-billion-to-20-billion-in-revenue">Nvidia Climbs On Saudi AI Investments: Analyst Estimates $15 Billion To $20 Billion In Revenue</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

NVDA

Elon Musk's xAI Plans $30–$40 Billion GPU Buy Near Memphis — Gene Munster Says Its A 'Good Day' To Be A Nvidia Salesperson

Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) memecoin led the cryptocurrency gainers on Tuesday, defying the sideways trajectory of blue-chip coins.
What Happened: TRUMP popped over 12%, becoming the top-gaining cryptocurrency over the last 24 hours. The token's trading volume jumped 120% to $1.45 billion, signaling high liquidity and trader interest.
The rally occurred on a day when market heavyweights like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) <a href="https://www.benzinga.com/25/05/45534460/bitcoin-taps-107000-again-ethereum-dogecoin-flat-analyst-predicts-next-bullish-breakout-will-power-btc-above-ath">were trapped in their respective ranges</a>.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45511186/coinbase-says-justice-department-has-launched-probe-into-its-recent-cyberattack">Coinbase Says DOJ Probing Latest Attack On Its Platform, Clarifies Its Not The &#8216;Subject&#8217; Of The Investigation</a>
The rise comes just two days before President Donald Trump&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45367052/trump-memecoin-exclusive-dinner-guest-list-revealed-with-justin-sun-shining-at-the-top-rep">gala dinner</a> with the top 220 holders of his meme coin. The event has received widespread media coverage, with critics, particularly from the Democratic Party, <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45027557/trumps-memecoin-dinner-event-sparks-impeachment-call-from-democratic-senator-says-potus-is-selling-access-to-those-who-enrich-him">accusing Trump of selling access</a> to wealthy and foreign actors invested in his ventures.
The topic reverberated during SEC Chairman Paul Atkins&#8217; congressional hearing on Tuesday. Atkins was asked about the meme coin&#8217;s launch leading up to Trump&#8217;s inauguration, the special dinner, and cryptocurrency mogul Justin Sun, the <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45367052/trump-memecoin-exclusive-dinner-guest-list-revealed-with-justin-sun-shining-at-the-top-rep">token&#8217;s largest holder</a>.
Atkins reiterated the <a href="https://www.benzinga.com/25/02/44032560/memecoins-like-trump-dogecoin-pepe-not-securities-says-the-sec-but-fraud-related-to-offer-and-sale-subject-to-enforcement">SEC&#8217;s previously clarified position</a> that meme coins should be viewed as collectibles, not securities.
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Price Action:&nbsp; At the time of writing, TRUMP was exchanging hands at $14.41, up 12.30% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo Courtesy: Christopher Sciacca on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45512252/want-a-tesla-cybertruck-geminis-new-bitcoin-credit-card-could-be-your-ticket">Want A Tesla Cybertruck? Gemini&#8217;s New Bitcoin Credit Card Could Be Your Ticket</a></li>
</ul>

Movers

Trading Ideas

$ETH

$TRUMP

TRUMP

TRUMP Soars 12% Ahead Of Gala Dinner—SEC Chair Paul Atkins Grilled On Memecoin, Justin Sun Link During Congressional Hearing

A recent post on X by Jim Cramer has sparked a flurry of discussions on social media, highlighting the CNBC host&#8217;s polarizing influence on the markets.
What Happened: On Tuesday, Cramer posted on X, congratulating his &#8220;partner&#8221; and fellow CNBC market news analyst, David Faber, following his recent interview with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO, Elon Musk.
&#8220;Congratulations to my partner David Faber for his amazing interview with [Elon Musk],&#8221; Cramer wrote, and that would have been the end of it if not for his follow-up remark that ignited a wave of reactions online.
See More: <a href="https://www.benzinga.com/media/25/05/45534314/elon-musk-just-got-grilled-on-doge-spending-hits-back-with-were-not-kings-here">Elon Musk Just Got Grilled On DOGE Spending, Hits Back With &#8216;We&#8217;re Not Kings Here&#8217;</a>
&#8220;I like that stock very much&#8230; (Tesla)&#8221; Cramer added, highlighting his bullish stance on the EV giant, which has experienced significant volatility in recent months.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's over
&mdash; greg (@greg16676935420) <a href="https://twitter.com/greg16676935420/status/1924952917452243001?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
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Reactions from X users quickly followed, with greg, a popular influencer on the platform, offering a blunt reply, &#8220;it&#8217;s over,&#8221; while Hexdline quipped, &#8220;It has never been more over for Tesla than it is now.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BREAKING?src=hash&amp;ref_src=twsrc%5Etfw">#BREAKING</a> It has never been more over for Tesla than it is now. Jim Cramer says he likes <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/YRJKSHQe6t">pic.twitter.com/YRJKSHQe6t</a>
&mdash; Hexdline (@HexdlineNews) <a href="https://twitter.com/HexdlineNews/status/1924991109907780037?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
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Others, such as Nova Real Invest, sarcastically praised Cramer's &#8220;golden touch,&#8221; reflecting a rather popular meme in financial circles that his endorsements often precede stock declines, fueled by his mixed track record over the past couple of years.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">OMG, Jim Cramer just blessed <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> Tesla with his golden touch! &#x1f680; He likes the stock &quot;very much&quot;… <a href="https://t.co/4gq9ySB8mM">pic.twitter.com/4gq9ySB8mM</a>
&mdash; NOVA REAL INVEST (@novarealinvest) <a href="https://twitter.com/novarealinvest/status/1925014115870703926?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
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Why It Matters: Cramer&#8217;s picks are renowned for moving in the opposite direction, giving rise <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/32017123/john-oliver-joins-inverse-jim-cramer-craze-says-youd-live-50-years-after-cramer-predicts-y">to the popular meme</a> in financial circles and communities online, with even the likes of talk show host John Oliver joining in on the frenzy.
His reputation for market predictions that often miss the mark has become so well-known that it inspired the creation of the Inverse Cramer ETF by Tuttle Capital Management, designed to bet against his recommendations. The fund has since <a href="https://www.benzinga.com/etfs/specialty-etfs/24/01/36793492/exclusive-inverse-cramer-etf-shuts-down-how-the-magnificent-7-stocks-factor-in-and-a-broken-c">been shut down</a>.
Cramer, however, <a href="https://www.benzinga.com/news/22/10/29184870/i-want-you-to-bet-against-me-jim-cramer-calls-out-new-inverse-etf-with-his-42-years-of-success">takes this in good jest</a>, saying, &#8220;As always, I welcome people betting against me. I have done this for 42 years.&#8221;
&#8220;Those who know that you would have been betting against Apple at 5, Google since inception, Meta at $18, Amazon at ten, Nvidia at $25 and AMD at $5. I welcome all comers,&#8221; he said.
Price Action: Shares of Tesla were up 0.51% on Tuesday, trading at $343.82 a share, and are largely flat after hours, trading up by 0.01%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="133" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20234951/Screenshot-2025-05-21-at-9.19.40-AM-1024x133.png" alt="" class="wp-image-922113" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20234951/Screenshot-2025-05-21-at-9.19.40-AM-1024x133.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20234951/Screenshot-2025-05-21-at-9.19.40-AM-300x39.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20234951/Screenshot-2025-05-21-at-9.19.40-AM-768x100.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20234951/Screenshot-2025-05-21-at-9.19.40-AM-1536x200.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20234951/Screenshot-2025-05-21-at-9.19.40-AM.png 1616w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, Tesla&#8217;s shares have a favorable price trend in the short, medium, and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a> for deeper insights into the stock.
Photo courtesy: katz / Shutterstock.com
Read More:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/25/05/45510862/apple-unwittingly-powered-the-rise-of-huawei-xiaomi-oppo-and-vivo-says-apple-in-china-authorindia-pivot-a-decade-too-late">China Warns Of Legal Retaliation Against US Chip Sanctions, Threatens Lawsuits For Aiding &#8216;Discriminatory&#8217; Tech Crackdown</a></li>
</ul>

ETFs

TSLA

Jim Cramer Praises Elon Musk Interview, Endorses Tesla—Will His Call Age Well? Internet Says 'It's Over'

On Tuesday, at Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google I/O 2025, Sergey Brin admitted his past <a href="https://www.benzinga.com/news/23/03/31376205/what-went-wrong-with-google-glass-enterprise-inside-look-at-the-discontinued-ar-project">missteps with Google Glass</a>.
What Happened: During a surprise interview, Brin said that he "made a lot of mistakes with Google Glass," adding that he didn't know much about the consumer electronics supply chains or the difficulties involved in building smart glasses at a reasonable price point, <a href="https://techcrunch.com/2025/05/20/googles-sergey-brin-i-made-a-lot-of-mistakes-with-google-glass/">reported</a> TechCrunch.
Brin then said he is glad that the Sundar Pichai-led company is pursuing the product innovation again with "great partners who are helping us build this."
The Google co-founder also revealed that he's come out of retirement to actively work on Gemini efforts and has been helping the team with multiple projects, including the Veo 3 <a href="https://www.benzinga.com/24/12/42307366/googles-veo-video-generator-arrives-on-cloud-how-quora-and-mondelez-are-using-ai-for-creative-content">video model</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/05/45486639/sundar-pichai-reveals-google-parent-once-super-intensely-debated-about-buying-netflix-in-a-world-of-butterfly-effects" target="_blank" rel="noreferrer noopener">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: ‘In A World Of Butterfly Effects…'</a>
"Anybody who's a computer scientist should not be retired right now," he stated, adding, "They should be working on AI."
Why It's Important: Google is now working with partners like Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and Xreal Inc. and has decided to invest up to $150 million in eyewear brand Warby Parker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRBY#NYSE">WRBY</a>).
Earlier on Tuesday, <a href="https://www.benzinga.com/markets/25/05/45509746/google-i-o-2025-a-big-deal-says-gene-munster-sundar-pichais-alphabet-has-no-choice-but-to-disrupt-itself-before-someone-else-does">at the I/O event</a>, Google and Xreal also unveiled Project Aura — the first eyewear to run Android XR. The Pichai-led company also said that it is partnering with Samsung on a separate smart glasses project and plans to release reference hardware later this year, <a href="https://www.bloomberg.com/news/articles/2025-05-20/xreal-and-google-debut-project-aura-ar-glasses-to-rival-meta-s-orion-glasses?srnd=undefined&amp;sref=9hGJlFio">reported</a> Bloomberg.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Xreal CEO Chi Xu said in an interview that Samsung's device is Google&#8217;s answer to Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Vision Pro. Similarly, Xreal's Android XR glasses aim to compete with Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/news/24/09/41084112/mark-zuckerberg-says-orion-is-probably-going-to-be-the-next-major-platform-after-phones-metas-new-ar">augmented reality glasses</a>.&nbsp;
Project Aura glasses are expected to launch between late 2025 and early 2026 and will be priced significantly lower than competitors like Meta and Samsung, likely under $600, the report noted, citing Xu.
Price Action: Alphabet Inc.'s Class A shares fell by 1.54% on Tuesday, with Class C shares down 1.52%. Apple shares slipped 0.92%, while Meta declined 0.52% during the same session, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Per Benzinga Edge Stock Rankings, Alphabet has a growth score of 66.81%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other companies</a> like Apple and Meta.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20234830/Screenshot-2025-05-21-at-9.18.24%E2%80%AFAM.png" alt="" class="wp-image-922112" /></a></figure>
Photo Courtesy: Hattanas On Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage&#8217; As China&#8217;s Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a></li>
</ul>

Media

AAPL

GOOG

GOOGL

SSNLF

WRBY

Sergey Brin Comes Out Of Retirement To Work On Gemini, Admits He Made A 'Lot Of Mistakes' With Google Glass As Alphabet Ramps Up To Compete With Meta And Apple

America's full retirement age (FRA) for claiming 100 percent of Social Security rises to 67 in 2025, capping a four-decade phase-in that permanently trims checks for anyone filing earlier and rewards those who delay until 70.
Workers who understand the new timetable and the penalties for jumping the gun can still lock in higher benefits despite warnings that the system's main trust fund could run short by 2033.
<h3 class="wp-block-heading">Why FRA Hit 67</h3>
The two-year age hike was baked into the Social Security Amendments of 1983, signed by President Ronald Reagan to shore up a program now paying nearly 74 million Americans. Beginning next year, every new retiree born in 1960 or later must reach 67 to collect an unreduced benefit. Those born in 1959 reach their FRA — 66 years, 10 months — in November.
<h3 class="wp-block-heading">The Cost Of Claiming Early</h3>
You can still file at 62, but doing so slashes the monthly check by up to 30 percent. You get lower benefits if you claim before that retirement age. Every month you claim early, you get a reduction. Wait until 70 and delayed-retirement credits lift payments roughly 8 percent a year, pushing the maximum 2025 benefit above $5,100.
See also: <a href="https://www.benzinga.com/25/05/45514426/spain-cracks-down-on-airbnb-asks-to-remove-over-65000-listings-amid-housing-crisis-no-more-excuses-enough-with-protecting-those">Spain Cracks Down On Airbnb, Asks To Remove Over 65,000 Listings Amid Housing Crisis: &#8216;No More Excuses. Enough With Protecting Those&#8230;&#8217;</a>
<h3 class="wp-block-heading">Medicare Still Turns On At 65</h3>
Turning 65 remains pivotal because it opens the Medicare door, a milestone that "is in many ways more important than the full retirement age," says Gal Wettstein of Boston College's Center for Retirement Research <a href="https://www.usatoday.com/story/money/2024/12/18/social-security-2025-retirement-age-benefits/77067663007/">tells</a> USA Today. Retirees who claim Social Security early yet exit the workforce before 65 must budget for private coverage until Medicare starts.
<h3 class="wp-block-heading">Planning Beyond 2025</h3>
Delaying even a few months can recoup thousands over a lifetime, advisors note, and online calculators at SSA.gov let users test break-even ages. Policymakers warn time is short: the OASI trust fund is projected to pay full benefits <a href="https://www.benzinga.com/personal-finance/24/09/40817544/report-warns-of-16-500-annual-social-security-benefit-cut-for-dual-income-couples-by-2033">only through 2033</a>, after which incoming taxes would cover 79 percent, making personal savings and <a href="https://www.benzinga.com/25/05/45298194/interested-in-the-new-super-funding-401k-opportunity-heres-how-to-know-if-you-qualify">401(k) catch-ups</a> more critical.
Read next: <a href="https://www.benzinga.com/tech/25/05/45513883/larry-ellison-once-said-to-be-the-next-steve-jobs-you-need-that-obsessive-compulsive-personality-combined-with-picassos-aesthetic-and-edisons-inventiveness">Larry Ellison Once Said, To Be &#8216;The Next Steve Jobs,&#8217; You Need &#8216;That Obsessive Compulsive Personality&#8217; Combined With &#8216;Picasso&#8217;s Aesthetic and Edison&#8217;s Inventiveness&#8217;</a>

Financial Advisors

Personal Finance

Social Security Full Retirement Age Shift Could See Your Check Chopped By 30% — What Everyone Born In 1960 Or Later Must Know

China has threatened legal action against any individual or organization assisting with or implementing U.S. semiconductor restrictions, escalating tensions in the ongoing tech rivalry between the world&#8217;s two largest economies.
What Happened: China&#8217;s commerce ministry said there could be &#8220;corresponding legal liabilities&#8221; for those involved in U.S. measures it characterized as &#8220;discriminatory restrictive measures&#8221; against Chinese firms, Reuters reported. 
The warning comes after the U.S. published guidance last week cautioning companies against using Ascend AI chips from Huawei Technologies.
The dispute highlights growing friction as both nations compete for dominance in advanced technology. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang recently criticized U.S. chip export controls as &#8220;exactly wrong for America,&#8221; revealing his company wrote off $5.5 billion in inventory and lost <a href="https://www.benzinga.com/25/05/45513246/nvidia-ceo-jensen-huang-says-chinese-ai-researchers-are-world-class-and-us-companies-are-hiring-a-whole-bunch-of-them">approximately $15 billion in sales</a> due to these restrictions.
&#8220;China&#8217;s doing fantastic, 50% of the world&#8217;s AI researchers are Chinese and you&#8217;re not going to hold them back,&#8221; Huang said at Computex 2025, arguing American companies should be allowed to compete in China to &#8220;offset the trade deficit.&#8221;
See Also: <a href="https://www.benzinga.com/general/space/25/05/45532125/l3harris-stock-moves-higher-after-being-named-in-golden-dome-missile-defense-system">L3Harris Stock Moves Higher After Being Named In &#8216;Golden Dome&#8217; Missile Defense System</a>
Why It Matters: The technology standoff has intensified since April, when China imposed retaliatory tariffs up to 125% on U.S.-made chips, while <a href="https://www.benzinga.com/25/04/44770461/intel-on-slump-as-china-hits-us-made-chips-with-tariffs-amd-and-taiwan-semiconductor-rise-on-exemption-boost">exempting Taiwan-manufactured semiconductor</a>s. This policy benefits companies like Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) that outsource to Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), while potentially harming U.S.-based fabricators like Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder Bill Gates recently noted that export bans have <a href="https://www.benzinga.com/news/25/05/45342962/bill-gates-slams-trumps-tariffs-we-told-china-to-make-their-own-chips-and-theyre-making-great-progress-warns-its-a-bad-time-to-inte">only accelerated China&#8217;s self-reliance efforts</a>. &#8220;We made clear to them that they needed to make their own chips, and they&#8217;re making great progress on doing that,&#8221; Gates told CNN.
China&#8217;s ministry urged the U.S. to &#8220;abide by international economic and trade rules&#8221; and respect other countries&#8217; technological development rights.
Image Via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/25/05/45529030/elon-musk-confirms-tesla-robotaxi-launch-is-on-track-for-next-month-these-things-happen-slowly-but-then-all-at-once">Elon Musk Expects Tesla Robotaxi Launch For June: &#8216;These Things Happen Slowly, Then All At Once&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Economics

INTC

MSFT

QCOM

China Warns Of Legal Retaliation Against US Chip Sanctions, Threatens Lawsuits For Aiding 'Discriminatory' Tech Crackdown

Leading cryptocurrencies moved sideways on Tuesday as investors waited for Bitcoin&#8217;s breakout to new highs.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.61%</td>
<td>$106,779.14</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.17%</td>
<td>$2,534.18</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.18%</td>
<td>$0.2263</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin tapped $107,000 late evening before pulling back slightly to the $106,000 region. The apex cryptocurrency was just 2.51% shy of its all-time high of $109,114.88.
Ethereum dipped to $2,440 in the early morning but recouped the losses overnight.
May has been a success for these blue-chip currencies. While Bitcoin increased by more than 14% this month, Ethereum rebounded with a 40% gain following months of decline.
Over $212 million in upside bets were liquidated from the cryptocurrency market in the last 24 hours, while $90 million in shorts were erased.
About $557 million in Bitcoin shorts could be liquidated if the apex cryptocurrency rallies to $109,000.
Bitcoin&#8217;s Open Interest increased by 1.87% in the last 24 hours and by more than 10% in the last week to $74.48 billion, suggesting that fresh money was being injected into derivatives.
The market maintained the "Greed" sentiment, according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:30 p.m. ET)</td>
</tr>
<tr>
<td>Official Trump (TRUMP)</td>
<td>+10.46%</td>
<td>$14.17</td>
</tr>
<tr>
<td>FARTCOIN (Fartcoin)</td>
<td>+7.18%</td>
<td>$0.7403</td>
</tr>
<tr>
<td>Curve DAO Token (CRV)</td>
<td>+4.64%</td>
<td>$0.7165</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.37 trillion, following a marginal increase of 0.44% in the last 24 hours.
Stocks retraced on Tuesday. The Dow Jones Industrial Average slid 114.83 points, or 0.27%, to end at 42,677.24. The S&amp;P 500 snapped its six-day winning streak, closing 0.39% lower at 5,940.46. The tech-heavy Nasdaq Composite dipped 0.38% to end at 19,142.71.
Major averages have rallied substantially over the last six weeks, with the S&amp;P 500 recovering 19.22% from its April lows.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: On-chain analytics firm Santiment drew attention to the surge in capital inflows into Bitcoin exchange-traded funds lately.
"Over the past 5 weeks, there has been a net inflow of $6.63 billion across BTC ETFs. This is historically a bullish sign for future price movement," Santiment added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4c8; Bitcoin ETF&#39;s are seeing massive inflows, a trend that began in mid-April. Over the past 5 weeks, there has been a net inflow of $6.63B across <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> ETF&#39;s. This is historically a bullish sign for future price movement.<a href="https://twitter.com/santimentfeed?ref_src=twsrc%5Etfw">@santimentfeed</a> ETF Dashboard &#x1f449; <a href="https://t.co/4xSKM9RmAg">https://t.co/4xSKM9RmAg</a> <a href="https://t.co/V4EXRoHG96">pic.twitter.com/V4EXRoHG96</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1924857440475959736?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst and investor Reed Carson anticipated a "big move" after analyzing Bitcoin's 4-hour chart.
"Since April bottom, BTC has formed ascending channel and each time a breakout has happened to the upside," Carson stated. "First breakout pumped BTC above $93,000, the second breakout pumped BTC to $105,000 and the upcoming one will send BTC above its previous ATH."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> 4-hr candle is clearly telling the next big move. And it&#39;ll be to the upside. Since April bottom, BTC has formed ascending channel and each time a breakout has happened to the upside. First breakout pumped BTC above $93K, second breakout pumped BTC $105K and the upcoming… <a href="https://t.co/BMvDnvxmC0">pic.twitter.com/BMvDnvxmC0</a>
&mdash; Reed Carson (@reed_carss) <a href="https://twitter.com/reed_carss/status/1924896656337862664?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Igor Faun On Shutterstock.com
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45520339/is-a-dogecoin-breakout-to-0-30-brewing">Is A Dogecoin Breakout To $0.30 Brewing?</a></li>
</ul>

$DOGE

Bitcoin Taps $107,000 Again, Ethereum, Dogecoin Flat: Analyst Says 'Massive' ETF Inflows A Bullish Sign For Future BTC Price Movement

Silicon carbide component manufacturer&nbsp;Wolfspeed Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) is preparing to file for&nbsp;prepackaged Chapter 11 bankruptcy protection in the coming weeks.
What Happened: Facing mounting debt and failed out-of-court restructuring talks with key creditors, the company is reportedly pursuing bankruptcy options, according to a <a href="https://www.wsj.com/articles/wolfspeed-prepares-to-file-for-bankruptcy-within-weeks-7bd98040">report</a> from the Wall Street Journal on Tuesday, citing sources familiar with the matter.
The company, which was expected to benefit from U.S. government efforts to expand domestic semiconductor production through the 2022 CHIPS Act, has struggled to address its $6.5 billion debt, including a $575 million balloon payment due in May 2026.
See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45532892/legendary-investor-jeremy-grantham-warns-of-50-stock-market-crash">Legendary Investor Jeremy Grantham Warns Of 50% Stock Market Crash</a>
Wolfspeed is aiming for a bankruptcy plan that would have the support of the majority of its creditors. This comes after rejecting a debtholder restructuring deal in March, following pushback from Apollo Global Management LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>). 
The deal involved converting some of its convertible debt holdings and loans into equity, which would have diluted Apollo&#8217;s position.
Apollo, which owns $1.5 billion of Wolfspeed&#8217;s debt, sits on top of the company&#8217;s credit stack and has the right to approve any new secured financing deal. It also has a make-whole provision in its agreement, which essentially shields the PE firm from losses in the event of a bankruptcy, according <a href="https://www.sec.gov/Archives/edgar/data/895419/000119312523174504/d462549d8k.htm">to</a> Wolfspeed&#8217;s SEC filings. 
Wolfspeed had previously said it was exploring restructuring or bankruptcy options after difficulties refinancing its debt threatened its ability to access up to $750 million in taxpayer funds through the CHIPS Act. That funding was contingent on the successful refinancing of convertible notes maturing in 2026, 2028, and 2029.
Both Wolfspeed and Apollo have yet to respond to Benzinga&#8217;s requests for a comment on this matter. The story will be updated once we hear back.
Why It Matters: During its <a href="https://www.benzinga.com/news/earnings/25/05/45303071/wolfspeed-stock-slides-after-q3-revenues-miss-estimates-heres-what-to-know">third quarter results</a> two weeks ago, Wolfspeed outlined plans to strengthen its capital structure and improve its path to profitability.
The company recently hired an ex-Micron executive, Robert Feurle, as <a href="https://www.benzinga.com/25/03/44515658/wolfspeed-names-ex-micron-exec-feurle-as-ceo-to-revive-struggling-chipmaker">its new CEO</a>, who comes with several decades of semiconductor experience, to help in its turnaround efforts.
Price Action: Wolfspeed&#8217;s shares were down 10.32% on Tuesday, ending the day at $3.13 per share, and are down 60.38% after hours. The stock is down 52.79% year-to-date.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="131" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20224506/Screenshot-2025-05-21-at-8.14.53-AM-1024x131.png" alt="" class="wp-image-922075" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20224506/Screenshot-2025-05-21-at-8.14.53-AM-1024x131.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20224506/Screenshot-2025-05-21-at-8.14.53-AM-300x38.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20224506/Screenshot-2025-05-21-at-8.14.53-AM-768x98.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20224506/Screenshot-2025-05-21-at-8.14.53-AM-1536x197.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20224506/Screenshot-2025-05-21-at-8.14.53-AM.png 1594w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The stock fares poorly in Benzinga&#8217;s Edge Stock Rankings with low scores across the board, and an unfavorable price trend in the short, medium, and long term. You can find deeper insights on the stock <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a>.
Photo Courtesy: T. Schneider on Shutterstock.com
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<li><a href="https://www.benzinga.com/25/05/45533872/cathie-wood-just-spent-8-4-million-on-this-top-chip-stock-and-its-not-nvidia">Cathie Wood Just Spent $8.4 Million On This Top Chip Stock (And It&#8217;s Not NVIDIA)</a></li>
</ul>

WOLF

Wolfspeed Reportedly Prepping Bankruptcy Filing After Snubbing Debt Deals, Buckling Under $6.5 Billion Burden—Stock Plunges Over 60%

On Tuesday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk found himself in a heated discussion with CNBC's David Faber regarding his involvement in federal spending cuts under President Donald Trump&#8217;s administration.
What Happened: The conversation, part of CNBC&#8217;s &#8220;Power Lunch,&#8221; initially centered on Tesla and autonomous vehicles but soon shifted to Musk&#8217;s role with the Department of Government Efficiency, <a href="https://thehill.com/policy/technology/5310122-elon-musk-tensions-cnbc-interview/">reported</a> The Hill.
Faber questioned Musk about the tangible impact of DOGE&#8217;s cost-cutting efforts, highlighting the criticism Musk has faced.
Musk responded, &#8220;We are advisers. We are not—we're not kings here.&#8221;
See Also: <a href="https://www.benzinga.com/tech/25/05/45510245/elon-musk-was-once-a-microsoft-intern-now-his-company-is-bringing-grok-to-azure-incredibly-important-for-ai-to-be-grounded-in-reality-xai-ceo-tells-satya-nadella">Elon Musk Was Once A Microsoft Intern — Now His Company Is Bringing Grok To Azure: &#8216;Incredibly Important For AI To Be Grounded In Reality,&#8217; xAI CEO Tells Satya Nadella</a>
The tech mogul then interrupted Faber, saying, &#8220;So why are you attacking this? Given that we've made so much progress?&#8221;
Faber then said that he was simply asking questions, not attacking. The exchange began when Faber mentioned Musk&#8217;s initial goal of cutting $1 trillion in federal spending, which Musk admitted was not immediately feasible, the report said.
Musk said that DOGE has managed to cut nearly $160 billion in spending, though Faber noted discrepancies in reported figures. Musk explained the methodology behind the numbers, while Faber suggested alternative budget strategies.
Why It Matters: Musk&#8217;s involvement with DOGE has been a topic of debate since his appointment. Despite efforts to cut costs, <a href="https://www.benzinga.com/25/04/44778750/musks-government-efficiency-push-falls-short-as-treasury-data-shows-spending-up-sharply-under-trumps-second-term-report">federal spending has reportedly increased</a> by $154 billion since President Trump&#8217;s return to office, according to Treasury data.
Earlier this month, Musk shared mixed sentiments about his first 100 days in office, noting some progress within the DOGE while also <a href="https://benzinga.com/markets/25/05/45163408/doge-not-as-effective-as-id-like-says-elon-musk-calls-reform-really-difficult-like-changing-direction-of-a-fleet-of-supertankers">recognizing its limitations</a>. &#8220;We haven't been as effective as I'd like.&#8221;
Last month, during <a href="https://www.benzinga.com/news/earnings/25/04/44937440/tesla-q1-misses-estimates-as-tariff-pressures-weigh-on-outlook-lower-cost-evs-still-on-track">Tesla's first quarter earnings</a> call, Musk announced <a href="https://www.benzinga.com/25/05/45381782/elon-musk-vows-to-spend-less-time-in-white-house-doge-office-investors-warn-the-damage-is-done-and-teslas-troubles-are-far-from-over">plans to reduce his time at DOGE</a>. This decision comes amid investor concerns that his political role has distracted from Tesla&#8217;s core operations.
Price Action: Tesla shares edged up 0.51% on Tuesday, ending the session at $343.82. The stock saw a marginal after-hours gain of 0.015%, based on <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
According to Benzinga Edge Stock Rankings, Tesla holds a growth score of 45.44%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to compare it with other leading stocks</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="438" height="277" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20223429/Screenshot-2025-05-21-at-11.34.05.png" alt="" class="wp-image-922066" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20223429/Screenshot-2025-05-21-at-11.34.05.png 438w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20223429/Screenshot-2025-05-21-at-11.34.05-300x190.png 300w" sizes="(max-width: 438px) 100vw, 438px" /></a></figure>
Shutterstock/Joshua Sukoff
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Elon Musk Just Got Grilled On DOGE Spending,  Hits Back With 'We're Not Kings Here'

U.S. stock markets experienced a downturn today, with the Nasdaq dropping over 75 points or nearly 0.4% to 19,142.71. The Dow Jones Industrial Average decreased by 0.27% to 42,677.24, while the S&amp;P 500 fell by 0.39% to 5,940.46.
Despite the overall market decline, these stocks captured the spotlight among retail traders and investors throughout the day.
Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) saw a decline of 1.45%, closing at $104.51. The stock reached an intraday high of $106.27 and a low of $103.62, with a 52-week range of $86.67 to $169.52. In the after-hours trading, the shares shot up nearly 5.1% to $109.81. The homebuilder reported <a href="https://www.benzinga.com/news/earnings/25/05/45531911/toll-brothers-shares-are-up-after-strong-q2-results-eps-beat-revenues-beat">strong second-quarter results</a>, with earnings per share of $3.50, surpassing the consensus estimate of $2.92. Revenue also exceeded expectations, coming in at $2.71 billion compared to the anticipated $2.48 billion.
D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) surged 25.93%, closing at $16.56. The stock hit an intraday high of $17.59 and a low of $14.60, with a 52-week range of $0.75 to $17.59. The quantum computing company announced the release of its <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45518005/d-wave-quantum-stock-is-surging-tuesday-heres-why">advanced Advantage2 system</a>, designed for real-world applications in optimization and AI. This announcement drove significant investor interest.
See Also:&nbsp;<a href="https://benzinga.com/25/05/45511553/elizabeth-warren-slams-republicans-for-dead-of-night-voting-strategy-on-trumps-big-beautiful-billwhy-hide" target="_blank" rel="noreferrer noopener">Elizabeth Warren Slams Republicans For &#8216;Dead Of Night&#8217; Voting Strategy On Trump&#8217;s &#8216;Big, Beautiful Bill&#8217;—&#8217;Why Hide?&#8217;</a>
Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) edged up 0.09%, closing at $194.48. The stock&#8217;s intraday high was $194.93, with a low of $192.66, and a 52-week range of $142.01 to $208.39. The cybersecurity firm reported <a href="https://www.benzinga.com/news/earnings/25/05/45530408/palo-alto-reports-q3-earnings-raises-fy25-guidance-shares-slide">third-quarter revenue</a> of $2.29 billion, slightly above the consensus estimate of $2.28 billion. Adjusted earnings per share were 80 cents, beating the expected 77 cents.
Warby Parker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRBY#NYSE">WRBY</a>) jumped 15.63%, closing at $20.34. The stock reached an intraday high of $22.15 and a low of $17.39, with a 52-week range of $12.46 to $28.68. The eyewear company announced a <a href="https://www.benzinga.com/news/25/05/45528349/warby-parker-wrby-stock-explodes-on-google-partnership-whats-going-on">strategic partnership</a> with Google, involving up to $150 million in support for AI-powered smart glasses development. This collaboration sparked investor excitement.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 0.51%, closing at $343.82. The stock&#8217;s intraday high was $354.99, with a low of $341.63, and a 52-week range of $167.42 to $488.54. CEO Elon Musk reaffirmed his commitment to leading the company, providing stability amid recent challenges. He also noted that Tesla has &#8220;already turned around&#8221; following a difficult first quarter. For more insights, view the <a href="https://www.benzinga.com/news/25/05/45519469/tesla-stock-rises-after-musk-reaffirms-leadership-and-business-rebound">full article</a>.
Benzinga Edge Stock Rankings indicate that the trending stock TOL has a strong price trend in the short term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out how it compares on other metrics</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="448" height="278" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20222131/Screenshot-2025-05-21-at-11.21.08.png" alt="" class="wp-image-922063" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20222131/Screenshot-2025-05-21-at-11.21.08.png 448w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20222131/Screenshot-2025-05-21-at-11.21.08-300x186.png 300w" sizes="(max-width: 448px) 100vw, 448px" /></a></figure>
Photo Courtesy: Phongphan On Shutterstock.com
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

PANW

QBTS

Toll Brothers, D-Wave Quantum, Palo Alto Networks, Warby Parker, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Businessman and television personality Kevin O&#8217;Leary deemed Sen.&nbsp;Elizabeth Warren&#8217;s&nbsp;(D-Mass.) opposition to the stablecoin legislation &#8220;un-American&#8221; on Tuesday.
What Happened:&nbsp;O&#8217;Leary&nbsp;took to X to express his disagreement with&nbsp;the Democratic lawmaker&nbsp;over the GENIUS Act that aims to establish the first U.S. regulatory framework for issuers of stablecoins.
The &#8220;Shark&#8221; dismissed Warren&#8217;s criticism of the bill as a &#8220;Trump product,&#8221; arguing that it is crucial for&nbsp;the future of U.S. financial&nbsp;dominance.
&#8220;This bill has nothing to do with Trump. This is about a digital payment system that establishes the U.S. dollar as the default currency around the world for price discovery on every commodity on earth,&#8221; O&#8217;Leary&nbsp;said.
He accused Warren of taking an &#8220;un-American&#8221; position and one that could lead to other fiat currencies challenging the dollar&#8217;s dominance.
&#8220;She's confusing politics with progress, and this time, it could cost America dearly,&#8221; O&#8217;Leary&nbsp;added. &#8220;That's not just wrong. It's dangerous.
Warren&#8217;s office didn&#8217;t immediately return Benzinga&#8217;s request for comment.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elizabeth Warren is at it again&#8230; She's confusing politics with progress, and this time, it could cost America dearly. Her latest rant? She's calling stablecoin legislation a &quot;Trump product.&quot; That's not just wrong. It's dangerous. This bill has nothing to do with Trump or meme… <a href="https://t.co/rZmlNBXL18">pic.twitter.com/rZmlNBXL18</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1924629991754760310?ref_src=twsrc%5Etfw">May 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45527096/bitcoin-whale-trader-up-over-20-million-in-unrealized-gains-on-700-million-btc-pepe-positions" target="_blank" rel="noreferrer noopener">Bitcoin Whale Trader Up Over $20 Million In Unrealized Gains On $700 Million BTC, Pepe Positions</a>
Warren had previously urged Congress to vote against the bill, citing concerns that it would enable President Donald Trump&#8217;s &#8220;crypto corruption&#8221; and threaten
Why It Matters: Warren had <a href="https://www.benzinga.com/25/05/45509721/elizabeth-warren-urges-congress-to-vote-against-genius-act-citing-potential-for-trumps-corruptionanthony-scaramucci-warns-democrats-against-political-suicide">urged Congress to vote</a> against the bill, citing concerns that it would enable Trump&#8217;s &#8220;crypto corruption,&#8221; threaten national security and give criminals easy access to money.
The bone of contention is the Trump family-backed&nbsp;USD1, currently available on Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>). The stablecoin <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45160707/eric-trump-says-world-libertys-stablecoin-will-be-used-to-close-a-2-billion-deal-dollar-token-to-also-get-integrated-with-justin-suns-tron-blockchain">was chosen to close</a> a $2 billion deal between Abu Dhabi investment firm MGX and cryptocurrency exchange Binance.
Despite Warren&#8217;s opposition, the <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45510057/senate-crypto-bill-passes-key-vote-genius-act-moves-toward-final-passage">Senate voted in favor of advancing the GENIUS Act</a> on Monday, paving the way for the bill&#8217;s final passage.
Photo Courtesy: Sheila Fitzgerald On Shutterstock.com
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Politics

$BNB

Mr Wonderful Kevin O' Leary Says Elizabeth Warren Taking An 'Un American' Position By Challenging Crypto Law: 'Bill Has Nothing To Do With Trump'

The Securities and Exchange Commission leveled fraud charges against cryptocurrency firm Unicoin and its top three executives Tuesday for misleading investors and raising over $100 million in the process.
What Happened: The SEC stated in a press release that Unicoin and&nbsp;its CEO and Board Chairman&nbsp;Alex Konanykhin&nbsp;lured investors with false promises. The company had claimed that its tokens were backed by valuable real estate assets. However, the SEC alleges that these assets were significantly less valuable than Unicoin had stated.
Mark Cave, Associate Director in&nbsp;the SEC's Division of Enforcement, stated, &#8220;the majority of the company's&nbsp;sales of rights certificates were&nbsp;illusory.&#8221; In addition to this, Unicoin and Konanykhin are accused of violating&nbsp;federal securities laws by engaging&nbsp;in unregistered offers and sales&nbsp;of rights certificates.
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Photo Courtesy: alfernec on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Crypto Company Unicoin, Executives Face SEC Fraud Charges Over Deceptive Claims

On Tuesday, Cathie Wood-led Ark Invest made notable trades, prominently acquiring shares of Taiwan Semiconductor Manufacturing Co. Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>). This strategic move involved significant purchases across multiple Ark ETFs, reflecting a strong belief in TSMC&#8217;s future potential.
The TSM Trade: Ark Invest&#8217;s acquisition of TSMC shares on Tuesday was substantial, with the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) purchasing 27,099 shares and the ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>) acquiring 16,172 shares. On Tuesday, Taiwan Semiconductor stock was largely unmoved at $193.45. The Ark trades were valued at $8.4 million. Earlier, on Monday, Ark had <a href="https://www.benzinga.com/25/05/45509626/cathie-woods-monday-moves-ark-bets-on-nvidia-supplier-tsmc-sells-6-5-million-of-mark-zuckerbergs-meta-shares">picked up $3.83 million worth</a> of TSMC stock.
TSMC&#8217;s <a href="https://www.benzinga.com/media/25/05/45515826/taiwan-semiconductor-qualcomm-mediatek-team-up-to-power-next-gen-mobile-and-ai-chips">ongoing collaborations</a> with Qualcomm and other original design manufacturers in Taiwan further highlight its pivotal role in advancing next-generation mobile and AI chips. Qualcomm&#8217;s chief, Cristiano Amon, emphasized the importance of TSMC in their supply chain ahead of the Computex trade show. This partnership is expected to solidify TSMC&#8217;s position as a leader in the semiconductor industry.
Other Key Trades:
<ul class="wp-block-list">
<li>Sold 1,300 shares of UiPath Inc. (PATH) from the ARK Fintech Innovation ETF (ARKF).</li>
<li>Bought 84,478 shares of Nextdoor Holdings Inc (KIND) through the ARK Next Generation Internet ETF (ARKW).</li>
<li>Acquired 839 shares of Blade Air Mobility Inc (BLDE) via the ARK Space Exploration &amp; Innovation ETF (ARKX).</li>
</ul>
TSMC ranks 82nd in Momentum and also on Growth, according to Benzinga Edge Stock Rankings. For a fuller analysis of the stock, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">click here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="797" height="99" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41.png" alt="" class="wp-image-922020" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41.png 797w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41-300x37.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/20211856/Screenshot-2025-05-21-at-10.18.41-768x95.png 768w" sizes="(max-width: 797px) 100vw, 797px" /></a></figure>
Photo Courtesy: Ira Lichi On Shutterstock.com
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ARKK

ARKW

Cathie Wood Just Spent $8.4 Million On This Top Chip Stock (And It's Not NVIDIA)

The Senate has passed a bill aimed at removing federal taxes on tips, marking a key victory for President Donald Trump and his administration&#8217;s agenda.
What Happened: The Senate approved a bill on Tuesday that aims to remove federal taxes on tips, as reported by&nbsp;<a href="https://thehill.com/homenews/senate/5310424-senate-no-tax-on-tips/">The Hill</a>. This legislative move, supported by Democrats, fulfills a key campaign promise of&nbsp;President Trump.
Sen.&nbsp;Jacky Rosen&nbsp;(D-Nev.) introduced the bill, expecting opposition. However, Sen.&nbsp;Ted Cruz&nbsp;(R-Texas) did not block it, allowing it to pass through unanimous consent. Rosen highlighted the significance of this bill for Nevada, emphasizing the financial relief it offers to hospitality and service workers facing rising costs.
Cruz praised Trump&#8217;s &#8220;political genius&#8221; in removing taxes on tips.
See Also: <a href="https://benzinga.com/25/05/45513154/trump-tariffs-triggered-price-surgeimports-hit-first-but-made-in-usa-goods-caught-in-the-crossfire-harvard-study-" target="_blank" rel="noreferrer noopener">Trump Tariffs Hit Imports For Sure, But Made In USA Purchases Also Didn&#8217;t Escape Price Rise Gauntlet, Shows Harvard Study</a>
Trump initially proposed the idea&nbsp;during a campaign stop in&nbsp;Nevada, a state with a high number of tipped workers. Cruz acknowledged the efforts of Nevada senators Rosen and&nbsp;Catherine Cortez Masto&nbsp;(D-Nev.), noting that about 25% of Nevada&#8217;s workforce depends on tips.
The bill, known as the No Tax on Tips Act, will now proceed to the House, where it is anticipated to pass one way or another either as another legislation advanced on Monday. Cruz expressed confidence that the bill will soon become law, offering a new tax deduction of up to $25,000 for tips.
Why It Matters: On Monday, a broader legislative package, dubbed by Trump as &#8220;<a href="https://www.benzinga.com/government/regulations/25/05/45506863/trumps-big-beautiful-bill-advances-heres-who-wins-and-loses">One, Big Beautiful Bill</a>, advanced in the congress. That bill seeks to extend The Tax Cuts and Jobs Act (TCJA) of 2017 and eliminate federal taxes on tips and overtime pay.
While the tax exemption on tips is seen as a boon for service workers, it could have significant fiscal implications. A report by the Committee for a Responsible Federal Budget (CRFB) suggests that the tax-free tips proposal might <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39350922/trumps-tax-free-tips-proposal-may-inflate-federal-deficit-by-up-to-250b-report">increase the federal deficit</a> by up to $250 billion over the next decade. 
This potential deficit increase is comparable to the projected revenue loss from the extension of the 2017 tax cuts for small businesses and pass-through companies, which are set to expire soon. The proposal is also viewed as a strategic move to garner support from younger voters, particularly in states like Nevada, where a significant portion of the workforce relies on tips.
Photo Courtesy: MargJohnsonVA on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump's No Tax On Tips Agenda Gets A Boost As Senate Approves Bill, Ted Cruz Praises President's 'Political Genius' For Backing The Idea

<ul class="wp-block-list">
<li>Morgan Stangely has estimated that generative AI revenue could surpass $1.1 trillion by 2028</li>
<li>In an effort to capitalize on that growth, tech companies like OpenAI, Meta, and Alphabet have been rushing their products to market</li>
<li>Now, tech experts are warning that in doing so these companies have been sacrificing the safety and security of their products</li>
</ul>
Tech experts are concerned that safety is taking a backseat to profit potential in AI development, <a href="https://www.cnbc.com/2025/05/14/meta-google-openai-artificial-intelligence-safety.html">CNBC</a> reports.&nbsp;&nbsp;
In the early days of AI, research was a priority for companies like Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, GOOGL)), and OpenAI, but the release of ChatGPT in late 2022 changed that, according to the outlet. As the groundbreaking chatbot proved hugely popular and financially lucrative, other major companies took note and began rushing their own AI platforms to market.
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In March, <a href="https://www.morganstanley.com/insights/articles/genai-revenue-growth-and-profitability">Morgan Stanley</a> estimated that generative AI revenue could surpass $1.1 trillion by 2028, making it a huge market with lots of potential for growth. And in an effort to stay competitive, many companies are now cutting corners when it comes to the rigorous safety testing of their AI models before they are released to the public, industry experts told CNBC.
James White, chief technology officer at CalypsoAI, told CNBC that new AI models are sacrificing security for response quality, meaning they're less likely to reject malicious kinds of prompts. "The models are getting better, but they're also more likely to be good at bad stuff," said White. "It's easier to trick them to do bad stuff."
White, whose company runs safety and security audits of popular models from Meta, Google, OpenAI among others, says that this shift is readily apparent at companies like Meta and Alphabet.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>&nbsp;
According to insiders who spoke to CNBC, Meta has deprioritized its AI research unit, the Fundamental Artificial Intelligence Research unit, in favor of Meta GenAI. Similarly, Alphabet has lumped its research group, Google Brain, in with its DeepMind division, which leads the development of new AI products.&nbsp;
Other experts readily agree with White, telling CNBC that as employees face increasingly shortened development timelines, they are left with the idea that they can't afford to fall behind when it comes to getting new models and products to market. Under this sort of pressure, they spend less time on security and more time on proficiency.
Google's Gemini 2.5 model, which was released in March, is a perfect example of this. According to CNBC, for weeks after its release, Gemini 2.5 was missing its model card, a common tool for AI transparency that shares information about how the model works, its limitations, and any potential dangers.
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In a memo obtained by CNBC a month before Gemini 2.5's release, Google co-founder Sergey Brin told DeepMind and Gemini staffers that "the final race to AGI is afoot." "We have all the ingredients to win this race but we are going to have to turbocharge our efforts," he said, noting that Google needed to speed up the process of AI testing and cut out the habit of "minor tweaking and overfitting" products.
"We can't keep building nanny products," Brin wrote. "Our products are overrun with filters and punts of various kinds."&nbsp;
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Image: Shutterstock

'The Models Are Getting Better, But They're Also More Likely To Be Good At Bad Stuff,' Tech Experts Sound The Alarm As AI Charges On

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Press Releases

Pomerantz Law Firm Announces the Filing of a Class Action Against Bitfarms Ltd. and Certain Officers – BITF

Shareholders who lost money investing in Bitfarms Ltd.  (BITF) Should Contact Wolf Haldenstein

Levi & Korsinsky Reminds Bitfarms Ltd. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of July 8, 2025 – BITF

BITF Class Action Alert: Robbins LLP Reminds Bitfarms, Ltd. Stockholders of the Pending Lead Plaintiff Deadline of July 8, 2025

The Gross Law Firm Notifies Bitfarms Ltd. Investors of a Class Action Lawsuit and Upcoming Deadline - BITF

ROSEN, A TOP RANKED LAW FIRM, Encourages Bitfarms Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action – BITF

Investors in Bitfarms Ltd. Should Contact Levi & Korsinsky Before July 8, 2025 to Discuss Your Rights - BITF

Pomerantz Law Firm Announces the Filing of a Class Action Against Bitfarms Ltd. and Certain Officers - BITF

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Small Cap

BITF Investors Have Opportunity to Lead Bitfarms Ltd. Securities Fraud Lawsuit with the Schall Law Firm

BITF Investor Notice: Robbins LLP Reminds Stockholders of the Securities Class Action Against Bitfarms Ltd.

HC Wainwright & Co.

Alliance Global Partners

Cantor Fitzgerald

B. Riley Securities

Untitled design - 2024-08-30T174008.310

FUFU

BitFuFu Posts 70% Revenue Growth And Outlines Strategic Expansion – Company Expects Continued Growth Amid Market Volatility

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EcoAI Coin: Leading The Charge Towards Sustainable Cryptocurrency Practices

Screenshot 2024-05-29 at 5.42.06 PM

CLSK

MARA

BitFuFu Q1 Earnings: Adjusted EBITDA Up 430.9% To $49.4 Million On Revenue Growth Of 149%, Cash Position Rises To $163.7 Million

最近、ビットコイン（仮想通貨：<a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>）マイニング会社ライオットプラットフォーム（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>）は、ライバル企業ビットファーム（NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BITF#NASDAQ">BITF</a>）に対する持ち株比率を12%に引き上げました。
出来事：ライオットプラットフォームはビットファーム約150万株を、1株あたり約2.45ドルの価格で取得しました。これは水曜日のロイターの報告によるものです。この取得は、Bitfarmsの約11.63%にものぼる既存の持株割合に加えられたものです。
RiotはBitfarmsの企業統治に関する懸念から、Bitfarmsの取締役会に独立取締役を含めるための特別株主総会の開催を計画していると述べています。
この動きは、先日Kerrisdale CapitalがRiot Platformsの空売りポジションを発表し、結果としてRiotの株価が9%下落したという発表に続くものです。
さらに、Riot PlatformsはKerrisdale Capitalによる空売り報告の対象になりました。Kerrisdale Capitalは、Riotの株に対してネガティブな見解を示しています。この騒動がRiot Platformsの株式の変動性に追加されました。
株価動向：水曜日の取引の中で、Riot Platformsの株は1株9.650ドルで0.21%下落し、<a href="https://pro.benzinga.com/dashboard?_gl=1#380nj0&#x2A;_ga&#x2A;MTYyMDYzMDIyNi4xLjEuMS4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">Benzinga Proのデータ</a>によると、この日の取引を終えました。Bitfarmsの株は1株2.510ドルで4.15%上昇し、この日の取引を終えました

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