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CORTEVA INC

Corteva

Corteva is an agricultural inputs pure play that was formed in 2019 when it was spun off from DowDuPont. The company is a leader in the development of new seed and crop protection products. Seeds generate the majority of profits with the remainder coming from crop protection products. Corteva operates globally, but around half of revenue comes from North America.

Corteva Inc

Seattle-based ElastixAI, founded just months ago by veteran engineers behind <a href="https://www.benzinga.com/news/25/05/45260075/apple-teams-up-with-ai-startup-anthropic-to-integrate-claude-sonnet-into-xcode-challenging-microsofts-github-copilot">Apple</a>'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) $200 million acquisition of Xnor, has raised $16 million from top-tier investors, including Bellevue-based capital venture company FUSE.
The stealth-mode startup with elite Apple pedigree is quietly tackling one of the most expensive pain points in artificial intelligence deployment: <a href="https://www.benzinga.com/markets/equities/25/01/43256925/chamath-palihapitiya-warns-of-ai-shift-the-battle-is-now-more-about-ai-inference-vs-training-as-deepseek-sparks-nvidia-selloff">inference</a>,<a href="https://www.geekwire.com/2025/exclusive-former-apple-leaders-raise-16m-for-stealthy-seattle-startup-building-ai-inference-tech/"> GeekWire</a> reports.
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<h2 class="wp-block-heading">Elite Founders With Track Records at Apple, Waymo, Meta, and AI2</h2>
The founding team behind ElastixAI is no stranger to cutting-edge AI. According to GeekWire, CEO Mohammad Rastegari was co-founder and chief technology officer of Xnor, which was acquired by Apple in 2020 for its groundbreaking edge-based AI tools.
He spent four years at Apple following the acquisition and most recently served as a distinguished scientist at Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). Rastegari is also an affiliate assistant professor at the University of Washington and spent five years at the Allen Institute for AI, co-founded by the late Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) visionary Paul Allen, GeekWire says.
Chief technology officer Saman Naderiparizi, who led hardware engineering at Xnor, was also a senior engineering manager at Apple. He's joined by third co-founder Mahyar Najibi, a former Apple engineer who also spent time at Waymo, Google's self-driving car project, GeekWire reports.
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>
<h2 class="wp-block-heading">Building a Scalable Inference Layer for AI's Next Generation</h2>
While training AI models gets most of the headlines, inference is where the real-world costs pile up. According to<a href="https://www.techtarget.com/searchenterpriseai/tip/AI-inference-vs-training-Key-differences-and-tradeoffs"> TechTarget</a>, every time a chatbot generates or replies to a question, a recommendation system suggests a new item or a smart device reacts to a real-world prompt, the model is performing inference. These post-deployment processes happen at scale and in real time, often thousands or millions of times a day. That volume drives up compute costs, latency concerns, and energy consumption.
GeekWire says that ElastixAI is focused on flexibility and configurability, giving enterprises and hyperscalers the ability to tune their inference infrastructure to specific needs. Whether running on edge devices or large cloud environments, the company's software-centric platform is designed to reduce both compute load and operational cost.
&#8220;We saw a gap when it comes to delivering AI inference at scale and at low cost,&#8221; Rastegari told GeekWire.
The startup remains in stealth, but its positioning puts it in conversation with major players like Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Coreweave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>), and inference-focused startups such as Fireworks.ai and Together.ai, GeekWire says.
See Also: <a href="https://www.benzinga.com/money/this-ai-imaging-technology-has-been-used-in-more-than-500-surgeries-now-you-can-be-part-of-the-ai-imaging-revolution">Be part of the next med-tech breakthrough for only $350 — 500+ surgeries already done with nView's AI system.</a>
<h2 class="wp-block-heading">Strong Investor Support In a Crowded AI Infrastructure Race</h2>
The $16 million round includes participation from Catapult, Tyche Partners, Liquid 2 Ventures, and DNX Ventures, according to GeekWire.&nbsp;
Cameron Borumand, general partner at FUSE, told GeekWire the firm was "thrilled to back the elite technical founders at Elastix to solve the hardest problems around scaling compute and infrastructure in the fast-growing AI inference market."
The company is also well-placed within Seattle's booming AI scene. With Apple's growing presence in the region and continued investment in foundational technologies, ElastixAI has access to both talent and infrastructure, according to GeekWire.
As AI demand continues to surge, inference platforms are becoming critical infrastructure. ElastixAI's unique combination of flexibility, leadership, and investor confidence may position it as one of the most closely watched stealth startups of the future.
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.30/share!</a></li>
</ul>
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NVDA

Ex-Apple Engineers Behind $200M Xnor Deal Launch ElastixAI, Secure $16M To Revolutionize AI Inference Across Devices

It's not a bad thing to live with your parents. Multi-generational households have become more common as young professionals and their parents seek to save money and fortify their finances. Caregiving has also fueled this trend.
However, one 36-year-old is conflicted. He makes $100,000 at his current job but will only earn $75,000 if he <a href="https://www.reddit.com/r/personalfinance/comments/1kozki7/taking_a_paycut_moving_home/">moves back with his parents</a>. On one hand, he's making less money. However, he will also save money since he no longer has to pay rent.
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"I'm a single dude, no debt, no kids," the 36-year-old shared with the Personal Finance Reddit community when sharing his thoughts.&nbsp;
Here's how the Reddit community responded.
<h2 class="wp-block-heading">Quality Of Life Decisions Are Worth It</h2>
The Redditor hinted that moving with his parents would boost his mental health. That was all some people in the comments needed to hear.&nbsp;
"Don't worry about the money. Do what's gonna get you feeling well," one commenter stated.&nbsp;
While it's nice to have a good salary, health comes first. Furthermore, this isn't a sharp cut, since the Redditor is only going down from $100,000 to $75,000. The 36-year-old could pick up a side hustle and learn new skills if he wants to close the gap.
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>
<h2 class="wp-block-heading">Save Money While You Live In Your Parents' House</h2>
The 36-year-old also has a tremendous opportunity to save money while living with their parents. We don't get a breakdown of the Redditor's expenses, but taking away rent can lead to significant savings.&nbsp;
There's more to this decision than money, but if finances were the sole factor, the Redditor should see how their expenses will change if they move back with their parents. Rent is the most obvious cost, but will the Redditor save $25,000 per year by moving back home? If the 36-year-old rents in an expensive city, it's very likely that he will save money, even with the reduced salary.
However, there are other variables to consider. Food and other essentials may be more expensive where the Redditor currently rents. The 36-year-old may also adjust their spending habits upon moving home, which can also boost his net worth.
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<h2 class="wp-block-heading">Build A Financial Cushion Before Starting A Family</h2>
It's unclear if the 36-year-old wants to start a family. Even if he doesn't want to raise a family, it's good to be in the mindset of wanting to pursue that route in the future. That way, the Redditor will be more prudent with his finances, knowing that he might have to support children.
Living with your parents can help you save up for a down payment, especially if you stay with them for years. Housing is the biggest expense for most people, so making a big down payment can make your future years much easier.
The 36-year-old is lucky to be in a position where his family will welcome him home with open arms. Not everyone has that setup, but the people who have this opportunity should capitalize on it for as long as possible.
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Personal Finance

A 36-Year-Old Guy Wonders If He Should Take A Pay Cut To Move Back Home: 'I'm A Single Dude, No Debt, No Kids'

British retail giant Marks &amp; Spencer is bracing for losses exceeding $400 million following a severe cyberattack, which has disrupted its business and exposed sensitive customer data.
What Happened: According to a <a href="https://corporate.marksandspencer.com/sites/marksandspencer/files/05-2025/fy25-rns.pdf">note</a> from the company, the cyberattack has taken a toll on M&amp;S&#8217;s fiscal year 2025-2026 operating budget, with a projected $403 million dip in profits &#8220;before cost mitigation, insurance and trading actions.&#8221;
In the statement, CEO&nbsp;Stuart Machin&nbsp;revealed that the company has been grappling with the cyberattack for several weeks, leading to a &#8220;limited period of disruption.&#8221; 
Despite the hurdles, the team has been working round the clock to manage the incident and restore normal operations, with customer service being a top priority.
Machin, however, cautioned that sales disruptions could persist for the next two months. The cyberattack, which was announced on April 22, has significantly affected online sales and trading profit, especially in the Fashion, Home, and Beauty sectors.
Also Read: <a href="https://www.benzinga.com/markets/25/03/44211409/bank-of-america-sounds-alarm-on-massive-data-breach-millions-could-be-affected-is-your-account-safe">Bank Of America Alerts Customers To Data Breach, Offers Identity Theft Protection For Affected Accounts</a>
The cybercriminals succeeded in accessing sensitive personal information of M&amp;S&nbsp;customers, including contact details, date&nbsp;of birth,&nbsp;and online order history. 
The&nbsp;breach is suspected to be part of a larger&nbsp;operation by a hacking group&nbsp;known as &#8220;DragonForce,&#8221;&nbsp;which has also claimed responsibility&nbsp;for a similar incident at the Co-op Food grocery chain in the UK.
Why It Matters: This incident underscores the increasing threat posed by cyberattacks to businesses worldwide. It highlights the need for robust cybersecurity measures and the potential financial implications of such breaches. 
As companies continue to digitize their operations, the risk of cyberattacks and the associated financial and reputational damage is likely to rise. 
This incident serves as a wake-up call for businesses to prioritize cybersecurity and invest in measures to protect their operations and customer data.
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Image: Shutterstock/WD Stock Photos

Tech

Retail Giant Faces $403 Million Hit After Cyberattack Exposes Customer Data

If you want your children to enjoy a top-notch private school <a href="https://www.benzinga.com/23/09/34694497/how-to-invest-for-your-childs-education-building-a-future-one-dollar-at-a-time">education,</a> sending them to the U.K. could be prudent.&nbsp;
While top American and British private education is costly for anyone, according to U.K.-based<a href="https://www.abbeycolleges.co.uk/2025/01/26/comparing-the-cost-of-uk-vs-us-independent-schools-for-international-students/"> Abbey DLD Group of Colleges</a>, independent schools in Great Britain are slightly more affordable. U.S. private schools range from $20,000 to $45,000 annually, while the U.K. equivalent ranges from £15,000 to £30,000 ($19,500 to $39,000).
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It&#8217;s not a perfect science as schools in more expensive areas in the Northeast and California are generally more expensive than elsewhere in the U.S, and those in and around London are pricier than other places in the UK. Elite British private schools like Eton or Harrow charge around £50,000 per year,<a href="https://www.bbc.com/news/articles/c033dp0z1edo"> the BBC says</a>, although the average is around £15,000.
The reputation of a school can also be a big factor. The exchange rate between the pound and the dollar also plays a role. Recently, amid the economic tariff uncertainty and inflation, the dollar has dropped, meaning that earnings in pounds may give you more dollars than it once did. That is always liable to change, though.
<h2 class="wp-block-heading">Soaring U.K. Private School Fees</h2>
Private school fees in the U.K. have soared by 22.6% in the last year, according to<a href="https://www.independent.co.uk/news/uk/home-news/private-school-fees-uk-government-vat-b2751741.html"> The Independent</a>, bringing the average annual cost to over $22,000. The increase comes on the back of the government&#8217;s value added tax on private school fees of 20%, introduced on Jan. 1. However, <a href="https://in.benzinga.com/news/25/02/43817096/this-shouldnt-be-controversial-vivek-ramaswamy-says-top-teachers-deserve-higher-pay-while-poor-performers-and-admins-shouldnt">U.S. private school tuition</a> has also gone up, seeing the biggest increase of a decade, according to <a href="https://www.bloomberg.com/news/articles/2025-02-12/us-private-school-tuition-nears-50-000-as-inflation-lifts-costs?embedded-checkout=true">Bloomberg</a>, with inflation partly to blame. Yearly fees at U.S. day schools are now $49,284, a 7.4 percent increase from last year.
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The BBC estimates that the additional tax levied on British private schools will generate £460 million in the 2024 to 2025 financial year, rising to £1. 7 billion by 2029 to 2030.&nbsp; Chancellor of the Exchequer Rachel Reeves said &#8220;every single penny&#8221; will go to state schools, the BBC reports. This includes funding the recruitment of 6,500 new teachers in England. A legal case has been brought by parents of private school children, the outcome of which has not been decided.&nbsp;
<h2 class="wp-block-heading">Private School Education Is Increasingly Unaffordable For Many British Parents</h2>
The<a href="https://www.pepf.co.uk/fact-finder/facts-and-figures/#:~:text=Age%20phase:,both%20mainland%20and%20Hong%20Kong)."> Private Education Policy Forum</a> says that about 5% of British private school students are from overseas, with parents living in the U.K. The increase in school tuition, coupled with the increased cost of living in the U.K. has put a private school education increasingly out of reach for many British parents who no longer choose a private school based on name reputation or have decided not to board their children.
&#8220;In the past, you wouldn&#8217;t choose a school just because it was cheaper; you would go for what you felt was right for your family,&#8221; Harry Cobb, a director at the education consultants Bonas MacFarlane, told the<a href="https://www.thetimes.com/best-schools-league-table/guide/article/what-is-happening-private-schools-h383k5v63"> Times of London</a>. &#8220;But we have had calls from people looking outside of boarding now because they feel there is more value for money in day schools, despite having to pay for childcare or other costs.&#8221;
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Also, although the top British private schools have traditionally provided the nation&#8217;s most successful executives and politicians, exam results show that in core subjects, once socio-economic factors are accounted for, state school pupils have closed the gaps on their expensively educated fellow students
<h2 class="wp-block-heading">The Arts Have A Strong Tradition In Private Education</h2>
What might also appeal to American parents who are concerned about the<a href="https://www.theguardian.com/books/2024/mar/14/book-bans-us-schools-surge"> more regimented curriculum</a> that has pervaded the U.S. education system recently is that U.K. private schools, according to the Times, embrace the arts. Statistics show that top-selling musicians are six times more likely to have attended British private schools, while BAFTA-nominated actors have five times the probability of having done so.
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Despite Recent Increases, British Private Schools Are Still More Affordable Than American Ones

The US bond market is experiencing a wave of anxiety due to House passage of the GOP budget bill, which has the potential to add trillions to the federal deficit. This has led to a surge in bond yields and has unsettled the stock market.
What Happened: The bond market is responding to the GOP budget bill that was passed in the House on Thursday. The bill could lead to a significant increase in the federal budget deficit, triggering a sell-off in Treasuries.
The 30-year bond yield has risen above 5.1%, while the 10-year US Treasury yield has increased beyond 4.6%. The GOP&#8217;s tax-cutting bill could add as much as&nbsp;$4 trillion to the deficit&nbsp;over the next decade, as per the Tax Foundation.
Michael Brown, a senior research strategist at Pepperstone, voiced investor concerns about the US debt levels potentially reaching unsustainable levels. &#8220;I think the issue is more that starting to worry about whether we&#8217;re getting close to or whether we are at a sort of tipping point,&#8221; Brown <a href="https://www.businessinsider.com/trump-tax-bill-gop-budget-deficit-bond-market-yields-selloff-2025-5">told</a> Insider.
&#8220;It is not a new phenomenon. I think the problem is we&#8217;re all now starting to wake up to the fact that nobody, certainly in the US, actually wants to do anything to get things under control,&#8221; he added. 
Also Read: <a href="https://www.benzinga.com/markets/25/03/44211421/us-economy-teetering-recession-may-be-looming-as-bond-market-reacts-to-trump-policies">US Economy Teetering? Recession May Be Looming As Bond Market Reacts To Trump Policies</a>
Higher deficits could result in more debt, inflation, and increased prices for Americans. The&nbsp;Yale Budget Lab estimates that&nbsp;a 1% increase in the&nbsp;US debt balance relative to&nbsp;GDP could reduce households&#8217; purchasing power&nbsp;by $300 to $1,250 over&nbsp;the next five years.
For&nbsp;the first time last year,&nbsp;the US spent more on debt service than on the military, with debt service accounting for 3.1% of GDP growth. This increased&nbsp;borrowing and deficit spending could&nbsp;undermine confidence in the US as a safe market for investors&#8217; money.
Brown suggested that the bond market volatility might stabilize in the coming months.&nbsp;&#8220;The market has just got&nbsp;very, very jittery right now&nbsp;over what&#8217;s going on in&nbsp;Congress and digesting it, but&nbsp;actually should be okay in&nbsp;two or three months. Things&nbsp;should settle down,&#8221; he continued.
Why It Matters: The GOP budget bill&#8217;s potential impact on the US deficit is causing significant concern in the bond market. 
The resulting volatility could have far-reaching effects on the economy, affecting everything from inflation rates to household purchasing power. 
As the US continues to grapple with these issues, the stability of the bond market will be a key factor to watch.
Read Next
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Bonds

Markets

US Bond Market Faces Turbulence as GOP Budget Bill Raises Deficit Concerns

President Donald Trump has issued a stringent ultimatum to&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). He has demanded that the tech behemoth start manufacturing iPhones within the United States or&nbsp;be prepared to face a minimum 25% tariff on iPhones produced overseas.
What Happened: The Apple shares fell 3% on Friday. The company has slipped roughly 20% year-to-date, as escalating pressure from Trump's threats converges with rising doubts about the company's position in the fast-evolving AI landscape.
Trump&nbsp;is the latest in a&nbsp;series of attempts over the past decade to persuade Apple to shift its supply chain to the US. Despite these efforts, Apple has chosen to relocate its&nbsp;production from China to other&nbsp;Asian countries such as India, Vietnam, and Thailand. It is estimated that China still manufactures around 80% of iPhones.
In a&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/114556874484491575" target="_blank" rel="noreferrer noopener">post</a>&nbsp;on his Truth Social platform, Trump wrote he had &#8220;long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else.&#8221;
According to a report <a href="https://www.nytimes.com/2025/05/23/technology/apple-iphone-trump-india-china.html">by</a> The New York Times, industry analysts, including Wayne Lam from TechInsights, believe that moving iPhone production to the US would be an expensive and challenging endeavor, potentially causing iPhone prices to soar to $2,000 or more. 
Also Read: <a href="https://www.benzinga.com/markets/25/05/45585977/apple-raises-iphone-trade-in-prices-in-china-to-fend-off-huawei-xiaomi-amid-lagging-sales">Apple Raises iPhone Trade-In Prices In China To Fend Off Huawei, Xiaomi Amid Lagging Sales</a>
This would require Apple to make significant investments in new machinery and heavily depend on automation due to the smaller US population.
Experts in supply chain management consider the proposed shift to US production in 2025 as ill-advised, given the iPhone&#8217;s age and the possibility of it being superseded by AI-based devices within the next decade. 
Apple&#8217;s previous attempt at US-based assembly for Mac desktop computers in 2013 encountered significant challenges, including labor issues and supply chain complications.
Even though Apple has increased iPhone production in India to circumvent local import taxes, the company continues to rely heavily on China for the assembly of intricate iPhone components.
Why It Matters: This ultimatum from President Trump underscores the ongoing tension between the US government and Apple over the company&#8217;s manufacturing practices. The proposed tariff could significantly impact Apple&#8217;s bottom line and potentially lead to higher prices for consumers. 
The situation also highlights the broader issue of global supply chains and the challenges companies face in balancing cost, efficiency, and political pressures.
Read Next
<a href="https://www.benzinga.com/tech/25/04/44780473/apple-escapes-supply-chain-crisis-as-trump-excludes-popular-electronics-from-tariffs">Apple Escapes Supply Chain Crisis As Trump Excludes Popular Electronics From Tariffs</a>
Image: Shutterstock/Novikov Aleksey

Trump's Apple Tariff Threat Hits Stock Hard, But Here's Why iPhones Can't Just Be 'Made in America'

A significant shift in the financial landscape is being mirrored in the recent turmoil in the bond market, with escalating US deficits playing a pivotal role.
What Happened: As highlighted by Greg Ip of The Wall Street Journal, despite peaking at 5% in the fall of 2023, the 10-year Treasury yield has returned to its level at the start of the year, sitting at 4.55%.
Ip wrote that the increase in yield this week is not indicative of a crisis or panic, but it does signal a shift in the financial markets. The days of abundant savings pursuing scarce bonds are over, leading to increased borrowing costs for governments around the globe.
The US stands out due to its yearly deficits, which are projected to surpass $2 trillion and could even touch $3 trillion.
&#8220;The trend is global, but the U.S. is an especially big piece of the story because of annual deficits likely to top $2 trillion on the way to $3 trillion, and the potential erosion of the dollar's reserve status,&#8221; Ip <a href="https://www.wsj.com/economy/central-banking/bond-market-yields-government-borrowing-4a78af80?mod=wsjhp_columnists_pos_2">wrote</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">1/ Rising 10-30 year yields without changed Fed expectations tells you this is about deficits and eroding reserve status of $. The term premium (the statistical junkyard for stuff we can&#39;t explain) has shot up to 90 bp, from negative. My column: <a href="https://t.co/N2A01VZ0Hb">https://t.co/N2A01VZ0Hb</a> <a href="https://t.co/F0RdOXdSqz">pic.twitter.com/F0RdOXdSqz</a>
&mdash; Greg Ip (@greg_ip) <a href="https://twitter.com/greg_ip/status/1925967852768538887?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
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The dynamics of the bond market are shaped by several factors, including the Federal Reserve&#8217;s short-term interest rates and the issuance of additional government bonds.
Also Read: <a href="https://www.benzinga.com/25/05/45510990/federal-reserve-should-do-nothing-at-all-about-the-rising-yields-says-craig-shapiro-let-the-bond-vigilantes-eat">Federal Reserve Should Do &#8216;Nothing At All&#8217; About The Rising Yields, Says Craig Shapiro: &#8216;Let The Bond Vigilantes Eat&#8217;</a>
Ip wrote that since October, 2024, the term premium, which represents the extra return expected from a 10-year bond over holding Treasury bills for the same duration, has been on the rise. This suggests that investors are requiring higher returns for bond ownership.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">2/ This is partly global. But US deficits are now such a huge part of developed market borrowing (67%) that it&#39;s clear the impulse from U.S. to other bond markets is stronger than vice versa. <a href="https://t.co/lXQdg8DBvC">pic.twitter.com/lXQdg8DBvC</a>
&mdash; Greg Ip (@greg_ip) <a href="https://twitter.com/greg_ip/status/1925968388435632634?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
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Country-specific factors are also contributing to the situation. For example, Japan&#8217;s lackluster demand at a 20-year government bond auction triggered this week&#8217;s global bond upheaval. Germany is borrowing more for defense and infrastructure, while Britain is grappling with ongoing inflation.
The fiscal situation in the U.S. is also under scrutiny. The federal deficit surpassed 6% of GDP last year and is expected to exceed 7% for a decade&nbsp;under the budget plan approved&nbsp;by House Republicans earlier this week. This would set a record for the longest sustained period in U.S. history and outpace nearly all other advanced economies.
The decision by Moody&#8217;s Ratings last week to deprive&nbsp;the U.S. of its last&nbsp;triple-A debt rating highlights the country&#8217;s fiscal difficulties. Investors are now contemplating whether to cut back on their U.S. dollar assets after two decades of steady investment.
&#8220;Moody's Ratings' decision last Friday to strip the U.S. of its last triple-A debt rating told us nothing we didn't already know. The U.S. is a fiscal train wreck, which we also knew in 2023, when Joe Biden was president, Fitch Ratings downgraded the U.S. and the 10-year bond yield touched 5%,&#8221; he continued.
Why It Matters: The current bond market turmoil and the U.S.&#8217;s increasing deficits have significant implications for the global financial landscape. 
The shift from an era of abundant savings and scarce bonds to one of higher borrowing costs for governments could potentially reshape the dynamics of global finance. 
Furthermore, US fiscal challenges and the potential impact on the dollar&#8217;s reserve status could have far-reaching effects on global investment patterns.
Read Next
<a href="https://www.benzinga.com/25/05/45579959/ray-dalio-warns-investors-to-be-afraid-of-the-bond-market-says-americas-debt-spiral-is-very-serious">Ray Dalio Warns Investors To Be &#8216;Afraid&#8217; Of The Bond Market, Calls America&#8217;s Debt Spiral &#8216;Very Serious&#8217;</a>
Image: Shutterstock/metamorworks

Global Bond Turmoil: A Shift in Financial Markets Amid Rising US Deficits

Rep. Marjorie Taylor Greene (R-Ga.) has expressed criticism towards Elon Musk&#8217;s AI chatbot, Grok, accusing it of propagating &#8220;fake news and propaganda.&#8221;
What Happened: Greene voiced her concerns about Grok after the AI chatbot challenged her Christian beliefs. The chatbot, a product of Musk&#8217;s xAI and available on X, responded to a user&#8217;s question about Greene&#8217;s religious affiliation by labeling it as &#8220;subjective.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm a Christian, an imperfect sinner saved by grace and faith in Jesus. &#x271d;&#xFE0F; I'm a nationalist, a proud American, who loves my country and wants to make our home nation is the best place for all American citizens and future generations to come. &#x1f1fa;&#x1f1f8; I'm a mother, thankful for the…
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1925914882483863817?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
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Grok also mentioned Greene&#8217;s past involvement&nbsp;with the QAnon conspiracy theory&nbsp;and her self-identification as a Christian nationalist. Greene retaliated on Twitter, stating,&nbsp;&#8220;The judgement seat belongs to&nbsp;GOD, not you a non-human&nbsp;AI platform.&#8221;
Also Read: <a href="https://www.benzinga.com/news/25/05/45482771/did-trump-talk-marjorie-taylor-greene-out-of-georgia-senate-run">Did Trump Talk Marjorie Taylor Greene Out of Georgia Senate Run?</a>
Greene further cautioned about the risks of relying on AI for information analysis. She suggested that those who rely on AI for discernment and cease to seek the truth &#8220;will be lost.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/grok?ref_src=twsrc%5Etfw">@grok</a> the judgement seat belongs to GOD, not you a non-human AI platform. Grok is left leaning and continues to spread fake news and propaganda. When people give up their own discernment, stop seeking the truth, and depend on AI to analyze information, they will be lost. <a href="https://t.co/R0MYSlp2YI">https://t.co/R0MYSlp2YI</a> <a href="https://t.co/36TtpAKYcp">pic.twitter.com/36TtpAKYcp</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1925939601245430143?ref_src=twsrc%5Etfw">May 23, 2025</a></blockquote>
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Despite Greene&#8217;s claim that Grok has a left-leaning bias, recent interactions with the chatbot have indicated otherwise. The AI recently broached the subject&nbsp;of &#8220;white genocide&#8221; in South&nbsp;Africa in response to unrelated&nbsp;queries.
Why It Matters: This incident underscores the ongoing debate about the role and influence of AI in information dissemination and analysis. 
As AI becomes more integrated into our daily lives, the potential for bias and misinformation remains a significant concern. Greene&#8217;s criticism of Grok highlights these concerns, particularly in the context of political and religious beliefs. 
The incident also raises questions about the training and programming of AI systems, and the potential for these systems to reflect or reinforce existing biases.
Read Next
<a href="https://www.benzinga.com/news/24/04/38237873/marjorie-taylor-greene-isnt-backing-down-on-criticism-of-house-speaker-despite-donald-trumps-efforts" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Isn't Backing Down On Criticism Of House Speaker Despite Donald Trump's Efforts To Quell Rift: ‘I'm Not Full Of Sh&#x2A;t Just Like Mike Johnson Is'</a>
Image: Shutterstock/Consolidated News Photos

Social Media

MTG Picks a Fight With Elon Musk's AI Chatbot: 'Grok Is Left Leaning and Continues To Spread Fake News and Propaganda'

If Bill Gates had never given up on his Microsoft stock or engaged in philanthropy at the scale he did, he would be much richer than Elon Musk. By retaining his original stake, Gates would have become the world's first trillionaire, with a fortune of more than $1.2 trillion.
What Happened: In the mid-1980s, Gates owned 49% of Microsoft. This amounted to approximately 11.2 million shares. According <a href="https://www.forbes.com/sites/mattdurot/2025/05/09/bill-gates-would-be-a-trillionaire-if-hed-kept-all-his-microsoft-stock/?utm_source=TWITTER&amp;utm_medium=social&amp;utm_campaign=forbes">to</a> Forbes, that stake would be worth $1.4 trillion in the present day. Dividends would have further added $100 billion in after-tax cash. Combined, Gates and his ex-wife, Melinda French Gates, would have been worth $1.5 trillion—ranking them much ahead of every billionaire on the planet.
However, Gates gradually sold off his Microsoft holdings over the years. Today, he owns 0.9% of the company, which is valued at around $28 billion. His wealth is now distributed across companies such as Republic Services, Deere &amp; Co, and Four Seasons Hotels via his Cascade Investments office. French Gates, who kept a portion of assets in their 2021 divorce, holds approximately 380,000 Microsoft shares, which are worth under $200 million.
See Also: <a href="https://www.benzinga.com/25/05/45513907/is-elon-musks-influence-fading-in-white-house-report-highlights-sharp-decline-in-trump-mentions-truth-social-posts-official-briefings">Is Elon Musk Losing Clout In White House? Report Flags Sharp Drop In Trump Mentions, Truth Social Posts, Official Briefings</a>
Why It Matters: <a href="https://www.benzinga.com/personal-finance/25/04/44659151/bill-and-melinda-gates-agreed-its-not-fair-we-have-so-much-wealth-and-say-their-money-opens-doors-most-people-will-never-get-through">The Gates' decision</a> to donate to philanthropic causes reshaped the trajectory of both their lives. Through the Gates Foundation, the former couple has channelled more than $47.7 billion to initiatives tackling issues like health, poverty, and education. Recently, Gates announced that he will <a href="https://www.benzinga.com/markets/25/05/45286464/bill-gates-commits-99-of-his-remaining-fortune-to-gates-foundation-set-to-wind-down-in-20-years-somebody-should-give-more-money-than-i-did">donate 99% of his remaining&nbsp;tech fortune to the foundation</a>, which will wind down in 20 years.
French Gates, meanwhile, established Pivotal Philanthropies in 2022 and committed $1 billion to back women's and girls' rights. After resigning as co-chair of the Gates Foundation in 2024, she announced another $12.5 billion commitment to her independent work.
"My parents taught me what generosity looked like through how they used their time and resources," Gates wrote in his Giving Pledge letter. "When the time came to choose what to do with my wealth from Microsoft, I knew I had to follow their example."
French Gates, too, echoed similar sentiments in her letter: "I recognize the absurdity of so much wealth being concentrated in the hands of one person, and I believe the only responsible thing to do with a fortune this size is give it away—as thoughtfully and impactfully as possible."
While Gates might have lost out on being the richest man on account of his philanthropic endeavors, he has not shied away from <a href="https://www.benzinga.com/news/25/05/45509139/more-than-a-feud-elon-musk-bill-gates-spat-sheds-light-on-competing-views-of-efficiency">openly criticising</a> the current richest man. <a href="https://www.benzinga.com/25/05/45311187/the-picture-of-the-worlds-richest-man-killing-the-worlds-poorest-children-is-not-a-pretty-one-says-bill-gates-slamming-elon-musk-over-abrupt-usaid-cuts">He recently said</a>, &#8220;The picture of the world&#8217;s richest man killing the world&#8217;s poorest children is not a pretty one,&#8221; referring to Musk's denouncement of USAID.
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>
Photo courtesy: Alexandros Michailidis / Shutterstock

General

Bill Gates Could've Left Elon Musk In The Dust With A $1.2 Trillion Fortune — If He Hadn't Sold His Microsoft Stock Or Given It Away

A Kentucky-based cryptocurrency investor has been accused&nbsp;of torturing an Italian tourist&nbsp;in a high-end New York City apartment. 
What Happened: The accused, 37-year-old John Woeltz, was taken into custody after the 28-year-old victim managed to escape from the SoHo apartment on Friday morning and informed a police officer. 
The victim alleged that he had been held captive for more than two weeks. The alleged motive behind this horrifying act was to extort the victim&#8217;s cryptocurrency account password.
Upon investigation, police found several Polaroid photos in the Prince Street apartment, which Woeltz rented for an estimated $30,000 to $40,000 per month. 
These photos depicted the victim undergoing various forms of torture. The victim was reportedly tied up&nbsp;with an electric cord, Tased, pistol-whipped, forced to consume cocaine, and threatened with an electric chainsaw, reports <a href="https://nypost.com/2025/05/23/us-news/kentucky-crypto-investor-allegedly-tortured-captive-italian-tourist-for-weeks-in-luxury-nyc-apartment-sources/">the </a>New York Post. 
The conflict reportedly stemmed from a cryptocurrency dispute, with Woeltz trying&nbsp;to extort millions of dollars&nbsp;from the victim through a series of gruesome tortures. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/31821234/man-gets-prison-time-after-feds-discover-3-4b-in-stolen-bitcoin-hidden-inside-cheetos-popc">Man Gets Prison Time After Feds Discover $3.4B In Stolen Bitcoin Hidden Inside Cheetos Popcorn Tin</a>
Post the incident, the victim was immediately taken to Bellevue Hospital for medical attention, while Woeltz was arrested and charged with multiple offenses including second-degree assault, first-degree kidnapping,&nbsp;and criminal possession of a&nbsp;weapon.
Along with Woeltz, 24-year-old Beatrice Folchi from Manhattan&nbsp;was also arrested and charged&nbsp;with first-degree kidnapping and first-degree&nbsp;unlawful imprisonment. Two other individuals believed to be associated with Woeltz are expected to be interviewed by the police soon.
Why It Matters: This incident underscores the potential risks and dangers associated with the cryptocurrency market. It serves as a grim reminder that while digital currencies offer numerous benefits, they can also be a target for criminals due to their high value and relative anonymity. 
As the popularity of cryptocurrencies continues to rise, it is crucial for investors to ensure the security of their digital assets and be aware of the potential risks involved.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/23/04/32100171/bitcoin-thief-who-stole-nearly-5-million-and-was-photographed-in-cash-filled-bathtub-gets-">Bitcoin Thief Who Stole Nearly $5 Million And Was Photographed In Cash-Filled Bathtub Gets 4 Years In Prison</a>
Image: Shutterstock/ozrimoz

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Crypto Investor Allegedly Tortured Tourist With a Chainsaw To Steal His Password

This year has been difficult for Tesla (NASDAQ:<a href="https://www.benzinga.com/quote/TSLA"> TSLA</a>), and Lehigh County, Pennsylvania's pension fund, just made it a little bit worse. According to the<a href="https://www.lehighvalleynews.com/lehigh-county/lehigh-county-pension-fund-halts-buying-tesla-stock-because-of-performance-politics"> Lehigh Valley News</a>, the pension board voted 4-2 in favor of a motion to suspend future purchases of<a href="https://www.benzinga.com/insights/options/25/05/45449386/market-whales-and-their-recent-bets-on-tsla-options"> Tesla stock</a>. The board also voted to advise its investment manager to create a written plan on how to divest from Tesla entirely.
&#8220;I introduced this motion out of concern for CEO Elon Musk's political public profile and its adverse impact on Tesla's brand and Tesla's market performance," County Controller Mark Pinsley reportedly said in a statement,"With Tesla&#8217;s earnings down 71% year-over-year and auto revenues falling 20%, our $500 million pension board prioritizes fiduciary responsibility. I believe this decision protects our retirees and may serve as a precedent for other institutional investors.&#8221;
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Pinsley's statement referenced Musk's role with the Department of Government Efficiency as part of the motivation behind the decision. &#8220;This is the first pension fund to make a public decision in response to Elon Musk&#8217;s nefarious activities with DOGE,&#8221; he said. However, the statement also noted that Tesla profits have "Taken a sharp dive. We owe it to our retirees and taxpayers to take a hard look at whether these are wise investments at this time.&#8221;
This would not be the first incident of a public pension fund divesting its Tesla interests. In March,<a href="https://www.bloomberg.com/news/articles/2025-03-14/tesla-dumped-by-danish-pension-over-labor-rights-musk-s-actions"> Bloomberg</a> reported that Denmark's $20 billion AkademikerPension was dropping its Tesla shares. The fund's CEO, Jens Munch Holst, took direct aim at Musk in his announcement explaining the divestiture decision. Holst said, "In short, it's our view that Elon Musk is in the process of destroying Tesla's brand and value."
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>
<a href="https://www.businessinsider.com/europe-pension-sold-entire-585-million-stake-in-tesla-2025-1">Business Insider</a> reported on Dutch pension fund ABP's decision to divest from Tesla in January. That sell-off saw nearly $600 million worth of Tesla stock hit the market, something which likely contributed to the company's massive stock slide. A<a href="https://www.abp.nl/nieuws-en-pers/nieuws/2025/januari/blog-harmen-abp-stapt-uit-tesla"> blog</a> post by ABP President Harman Van Wijnen took issue with the $50 billion bonus Tesla's board authorized for Musk.&nbsp; "We felt this amount was not in line with our rules for good governance," he wrote.
There can be no doubt that Musk's public persona and time with <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45448145/dogecoin-down-1-but-this-pattern-signals-a-breakout-is-imminent">DOGE</a> have made him a lightning rod for criticism, but the intensity of the blowback has been surprising. With that said, not everyone on Lehigh County's pension board supports the decision. Lehigh Valley Commissioner Ron Beitler voiced public frustration with Pinsley's announcement. Beitler told the Lehigh Valley News that Pinsley's announcement was &#8221; A headline grab by a politically motivated controller.&#8221;
However, he also wrote a<a href="https://www.facebook.com/RonBeitlerLehighCounty/posts/pfbid02YMMo88NYmeFvC351omCUUmZNKTEajkqsuxyAkXdh1ZuJt1jiSzefvhyB7jWio8rAl"> Facebook</a> post expressing his commitment to keeping politics out of pension investment decisions. &#8220;It doesn't matter whether a stock is linked to liberal or conservative causes or personalities — I don&#8217;t care. Our job is to make sound financial decisions. And we've done that. Even through tough markets, Lehigh County investments have delivered steady, reliable returns for our retirees," he said.
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Image: Shutterstock

Lehigh County, Pennsylvania Pension Fund's Board Votes To No Longer Purchase Tesla Stock

President Donald Trump&#8217;s administration has quietly removed a longstanding digital archive of presidential transcripts from the White House website, raising concerns about government <a href="https://www.benzinga.com/25/05/45599904/trump-confirms-25-tariff-on-samsung-and-other-companies-making-smartphones-outside-the-us" target="_blank" rel="noreferrer noopener">transparency and historical record-keeping</a>.
Rather than publishing official transcripts of the president&#8217;s speeches and public remarks — a routine followed by prior administrations — the website now primarily hosts YouTube videos with limited archival completeness.
The absence of full text records, combined with a curated video selection, suggests a move toward tighter information control, <a href="https://edition.cnn.com/2025/05/22/media/donald-trump-media-white-house-transcript-purge" target="_blank" rel="noreferrer noopener">reports</a> CNN.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45599923/trump-administration-enforces-new-restrictions-on-reporters-at-the-pentagon" rel="noreferrer noopener">Trump Administration Enforces New Restrictions On Reporters At The Pentagon</a>
HuffPost&#8217;s S.V. Date had earlier <a href="https://www.huffpost.com/entry/trump-secret-transcripts_n_6824fe20e4b021b5064adc84" target="_blank" rel="noreferrer noopener">flagged</a> the administration&#8217;s pattern of omitting some of Trump&#8217;s more controversial statements from official postings.
That trend has escalated, with nearly all transcripts now absent from the site — except for the president&#8217;s inaugural address.
Steven Cheung, White House communications director, dismissed criticism, responding to Date with a remark to &#8220;stop beclowning yourself,&#8221; CNN adds.
Meanwhile, Karoline Leavitt, the press secretary, asserted that the administration remains transparent by livestreaming presidential appearances.
Journalists, researchers, and the public now lack searchable records of presidential statements, complicating efforts to verify or contextualize official comments. Government-employed stenographers still transcribe Trump&#8217;s words, but those transcripts are not being made publicly available.
The disappearance of these documents limits scrutiny and raises questions about the administration&#8217;s commitment to open governance. Analysts argue that while livestreamed footage provides visual access, it doesn&#8217;t replace the utility of searchable, text-based archives.
External platforms like Factba.se — which independently compile and store such data — have become vital. Founder Bill Frischling emphasized the growing need for independent repositories of presidential records.
Beck Dorey-Stein, a former White House stenographer, previously highlighted Trump&#8217;s indifference toward transcript preservation in a 2018 op-ed.
She questioned why a president who often accuses the press of misrepresentation would not want precise records maintained.
In an era when optics and curated media dominate the administration&#8217;s messaging strategy, critics say visibility has replaced transparency — favoring spectacle over substance.
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Image: Shutterstock/Joshua Sukoff

Equities

Politics

Trump White House Removes Media Transcript Archive, Drawing Transparency Criticism

Nearly two decades ago, Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) founder Morris Chang explained why Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) wouldn&#8217;t stand a chance in the foundry business—and history is proving him right.
What Happened: During a 2007 conversation at the Computer History Museum, Chang addressed whether Intel or Samsung could compete with TSMC by using excess production capacity to enter the foundry market.
His response was blunt: "It's a completely different corporate culture."
He elaborated, recalling a conversation with a CEO who evaluated fab managers based on yield and cycle time metrics. "I said, we evaluate our plant managers by the satisfaction of our customers," he told Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang, who was moderating the conversation.
See Also: <a href="https://www.benzinga.com/tech/25/03/44298588/lip-bu-tan-got-high-praise-from-tsmc-founder-morris-chang-for-saving-cadence-from-pretty-big-trouble-will-the-magic-work-at-the-new-intel">Lip-Bu Tan Got High Praise From TSMC Founder Morris Chang For Saving Cadence From &#8216;Pretty Big Trouble&#8217; — Will The Magic Work At The &#8216;New&#8217; Intel</a>
That difference, he said, meant rivals couldn't succeed even if they tried. "I decided right there that this guy is not going to be an effective competitor with me."
"I give you the same comment when you bring up Samsung and Intel. I have a great deal of respect for them in what they are doing, but I do not think that they will effectively compete with me in the foundry business even if they have excess capacity," Chang stated.
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.
After Chang's statement, Huang said that from a customer's perspective, the distinction between a semiconductor company of &#8220;force&#8221; and one of &#8220;agility and force&#8221; is critical.
"Agility is something that's tough to teach large corporations," he said, praising TSMC's culture of service and flexibility.
Chang added that TSMC's ability to manage nearly 50 customers within the same fab was a competitive advantage no other chipmaker had mastered. "We just learned it over 20 years—that's one of our trade secrets."
Why It&#8217;s Important: Today, TSMC is the dominant global foundry player with clients like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia and Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>).
Despite renewed pushes by Intel and Samsung into the contract manufacturing space, <a href="https://www.benzinga.com/news/24/08/40576490/taiwan-semiconductor-leads-foundry-market-samsung-and-intel-ramp-up-advanced-process-efforts-report">TSMC's lead remains formidable</a>, validating Chang's early insights.
According to a March 2025 Counterpoint research, TSMC dominates the global foundry market, steadily increasing its share from 58% in the second quarter of 2023 to 67% in the fourth quarter of 2024.
Samsung Foundry—TSMC's closest competitor—is losing market share, dropping from 12% to 11% during the same period.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/21203333/Screenshot-2025-05-22-at-6.03.24%E2%80%AFAM-1024x586.png" alt="" class="wp-image-923635" style="width:919px;height:auto" /><figcaption class="wp-element-caption">Source: Counterpoint</figcaption></figure>
Meanwhile, Intel&#8217;s foundry business has faced major hurdles, including $13 billion in annual losses last year, job cuts, a suspended dividend and a <a href="https://www.benzinga.com/news/legal/25/03/44157128/intel-beats-investor-lawsuit-after-32-billion-stock-plunge-judge-rules-foundry-losses-werent-misleading">shareholder lawsuit</a> over alleged concealment of internal issues.
The abrupt departure of CEO Pat Gelsinger also <a href="https://www.benzinga.com/news/25/02/43708460/bill-gates-has-a-soft-spot-for-intel-but-says-the-chip-giant-has-lost-its-way-questions-whether-the">added to the turmoil</a>.
Despite these setbacks, Intel remains determined to become the world's No. 2 foundry by 2030, aiming to surpass Samsung while competing with TSMC.
Last month, at the Intel Direct Connect event, new CEO Lip-Bu Tan reaffirmed the company&#8217;s commitment to <a href="https://www.benzinga.com/content/44656300/intels-big-bet-on-18a-will-lip-bu-tans-vision-pay-off">its foundry ambitions</a>.
Price Action: Intel shares have risen 2.32% year to date, while TSMC shares have declined by 4.87%. However, over the past five years, Intel stock has dropped 66.77%, whereas TSMC has surged 285.06%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Rankings give Intel (INTC) a 19.77% growth rating. Want to see how it compares to TSMC and Samsung? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for the full breakdown</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/2025/05/21203434/Screenshot-2025-05-22-at-6.04.07%E2%80%AFAM.png" alt="" class="wp-image-923637" /></a></figure>
Photo Courtesy: jamesonwu1972 On Shutterstock.com
Check out more of Benzinga&#8217;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/25/05/45335671/morris-chang-once-talked-about-how-intel-turned-down-his-vision-for-tsmc-fast-forward-to-today-and-the-taiwanese-chipmaker-has-outgrown-intel-in-market-value-by-hundreds-of-billions">Morris Chang Once Talked About How Intel Turned Down His Vision For TSMC — Fast Forward To Today And The Taiwanese Chipmaker Has Outgrown Intel In Market Value By Hundreds Of Billions</a></li>
</ul>
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.

INTC

SSNLF

Morris Chang Saw Writing On The Wall 20 Years Ago For The Likes Of Intel And Samsung And Why They Would Never Be Able To Beat TSMC In Foundry Business

Billionaire entrepreneur Mark Cuban has founded several successful companies. Cuban is also a minority owner of the Dallas Mavericks and has starred on the popular television show <a href="https://www.benzinga.com/topic/shark-tank" target="_blank" rel="noreferrer noopener">"Shark Tank."</a>
He wouldn&#8217;t be where he is today if he retired in his mid-30s like&nbsp;he originally planned, and he owes a lot of that to his determination to be the best.&nbsp;
What To Know:&nbsp;As a young entrepreneur in his 20s, fresh out of Indiana University&#8217;s esteemed&nbsp;Kelley School of Business, Cuban founded&nbsp;software consulting business&nbsp;MicroSolutions.
According to&nbsp;<a href="https://www.cnbc.com/2022/10/13/why-mark-cuban-didnt-retire-early-after-becoming-a-millionaire.html" target="_blank" rel="noreferrer noopener">CNBC</a>, the young entrepreneur wanted&nbsp;to get rich and enter retirement&nbsp;by age 35.&nbsp;By the time he was 32, he sold the company for $6 million, pocketing around $2 million in profit.
But he didn't stop there like he initially&nbsp;planned. In a&nbsp;September 2022 episode of the&nbsp;<a href="https://podcasts.apple.com/us/podcast/mark-cuban-doesnt-believe-in-following-your-passions/id1346314086?i=1000579347983" target="_blank" rel="noreferrer noopener">"Re:Thinking"</a>&nbsp;podcast, he revealed why he couldn't just call it quits.&nbsp;
"I'm not retired because I'm too competitive," Cuban told&nbsp;Wharton psychologist&nbsp;Adam Grant&nbsp;on the show.&nbsp;
His get-rich-quick mentality drove much of his early decision-making, but chalking the MicroSolutions sale up as a win left the then-millionaire hungry for more.
Every entrepreneur wants to&nbsp;"be that entrepreneur that disrupts an industry and changes it,"&nbsp;Cuban said:&nbsp;"What&#8217;s better than that?"
Check This Out: <a href="https://www.benzinga.com/news/25/05/45555781/mark-cubans-300-000-toilet-paper-bet-now-makes-200m-annually-these-5-shark-tank-bets-made-him-millio">Mark Cuban&#8217;s $300,000 Toilet Paper Bet Now Makes $200M Annually — These 5 Shark Tank Bets Made Him Millions</a>
He's well on his way to&nbsp;<a href="https://www.benzinga.com/news/23/02/30672271/mark-cuban-aims-to-disrupt-a-365-billion-industry-with-the-only-startup-that-bears-his-name">disrupting the pharmaceutical industry</a>&nbsp;with the&nbsp;Mark Cuban Cost Plus Drug Company, which he founded at the beginning of 2022.
Costplusdrugs.com's online pharmacy&nbsp;now carries hundreds of prescription products, which are delivered via&nbsp;mail to thousands of customers each day.
The company is transparent on costs,&nbsp;charging&nbsp;a standard markup on the&nbsp;drugs it sells. That&nbsp;results&nbsp;in prices that&nbsp;often come in at a fraction&nbsp;of the cost of their big pharma&nbsp;alternatives.&nbsp;As a public-benefit corporation, the company's&nbsp;mission of improving public health is just as important as the numbers at the bottom of the balance sheet.
Speaking with Grant on the podcast, Cuban noted&nbsp;that if he were in his 20s again, he would probably have the same mindset as he did before and would look to start something that he could sell for a quick profit.
"But now, the next dollar in my life,&nbsp;the marginal value of my next dollar is de minimis. It&#8217;s not going to change my life a lot. So my decision-making process is completely different," Cuban said.
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Some elements of this story were previously reported by Benzinga and it has been updated. 
Image: Kathy Hutchins/Shutterstock.

Entrepreneurship

Success Stories

Mark Cuban Planned To Quit Working After He Made Millions In His 30s: 'I'm Not Retired Because I'm Too...'

It's not every day a billionaire says a product idea makes him "want to die." But leave it to Elon Musk to put a stake in the smartphone hype—while still keeping one hand on the shovel.
At a <a href="https://youtu.be/2ffHMNuOTQQ?si=fxLrU9uuBV-FFMQb">Pennsylvania town hall in October</a>, someone cut straight to the point:
"I want to know when the X phone's coming out."
Musk didn't hesitate. "Man, I sure hope we don't have to make a phone. That's a lot of work," he said. "The idea of making a phone makes me want to die. But if we have to make a phone, we will. But we will aspire not to make a phone."
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The crowd laughed. Musk didn't. He made it clear this wasn't about competition—it was about pressure. Specifically, pressure from <a href="https://www.benzinga.com/markets/25/05/45483794/apple-iphone-production-in-us-not-feasible-samsungs-surprise-launch-and-more-this-week-in-appleverse">tech giants like Apple</a> and Google.
"They need to make sure they don't have a heavy hand in the App Store… or they will create a forcing function for there to be a competitor."
This wasn't the first time Musk toyed with the idea. Back in November 2023 at the New York Times DealBook Summit, he gave the same energy when asked if he'd ever make a phone—especially as <a href="https://www.benzinga.com/news/24/09/40973399/apples-former-design-maestro-jony-ive-confirms-hes-joined-forces-with-openais-sam-altman-for-a-new-a">rumors swirled</a> about <a href="https://www.benzinga.com/tech/25/05/45338125/openais-sam-altman-reaches-out-o-elon-musk-amid-ongoing-social-media-spat-lets-be-friends">OpenAI CEO Sam Altman</a> teaming up with legendary Apple designer Jony Ive on a sleek AI-powered device.
"I don't think there's a real need to make a phone," Musk told Times journalist and CNBC host Andrew Ross Sorkin.
"If there's an essential need to make a phone, I'll make a phone. But I've got a <a href="https://www.benzinga.com/markets/equities/25/04/45063886/elon-musk-wants-tesla-to-be-most-valuable-company-in-the-world-but-top-investor-doubts-ev-giants-rise-without-apple-style-marketing-strategy">lot of fish to fry</a>."
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And if you're wondering what a Musk-designed phone might look like? Don't. He's already mentally past it.
"You've got basically a black rectangle. How do you make that better?"
His answer: skip the screen altogether. When asked what the future of communication looks like in his head, he pointed there literally.
"Yeah, good phrase—in the head. A Neuralink."
"The best interface would be a neural interface directly to your brain. So that would <a href="https://www.benzinga.com/25/05/45160705/elon-musk-says-neuralink-will-ultimately-be-available-to-all-as-fda-grants-breakthrough-status-for-speech-restoring-brain-tech">be a Neuralink</a>."
So no, Musk doesn't want to build a phone. He thinks it's a "black rectangle" dead-end. He'd rather hook your brain up to a chip than join the smartphone war.
But if Apple picks a fight?
He'll sigh. He'll grumble. And then—he just might build it.
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Elon Musk Says The Idea Of Creating A Phone Makes Him 'Want To Die' But He Will If There's A Need — Although He's 'Got A Lot Of Fish To Fry'

On-chain reinsurance firm OnRe has unveiled a product that offers digital asset investors a stable yield tied to real-world assets.
On Saturday,&nbsp;OnRe&nbsp;launched an innovative structured product that connects $225 billion&nbsp;of stable assets to the&nbsp;vast $750 billion reinsurance market. The product is engineered to provide investors with direct access to diversified, uncorrelated returns.
The initiative, supported by industry giants like&nbsp;Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>),&nbsp;Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and&nbsp;RockawayX,&nbsp;offers returns of up to&nbsp;36.5% from reinsurance performance, collateral&nbsp;yield, and token incentives.
By leveraging&nbsp;the speed and efficiency of&nbsp;Solana&#8217;s blockchain, OnRe aims to facilitate a seamless flow of capital and boost operational efficiency, thereby allowing a new breed of investors to access real-world returns on a large scale.
&#8220;OnRe signifies our dedication to transparency, efficiency, and innovation,&#8221; stated&nbsp;Ted Georgas,&nbsp;Co-Founder and CTO of OnRe.&nbsp;
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44884378/ethereums-2024-gains-erased-in-q1-2025-as-solana-reigns-supreme-in-dex-space-report">Ethereum&#8217;s 2024 Gains Erased In Q1 2025 as Solana Reigns Supreme in DEX Space: Report</a>
&#8220;With this single, structured product, we&#8217;re eradicating friction and opacity, offering&nbsp;investors a clear, scalable path&nbsp;to consistent, uncorrelated returns,&#8221; he added. 
The rise in frequency and impact of natural disasters necessitates efficient capital deployment. Protocols like OnRe, with their innovative approach, are set to play a pivotal role in this space. 
By linking digital assets to the reinsurance market, OnRe is not only diversifying investment opportunities but also enhancing the efficiency of capital flow. 
This could potentially reshape the reinsurance market, making it more accessible and transparent for investors.
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Image: Shutterstock/Sutthiphong Chandaeng

$ENA

$SOL

OnRe's Blockchain-Driven Yield Revolutionizes Reinsurance Market

Grief alone is enough. But imagine adding a five-figure bill from the federal government on top of it. That's what Ruth Podmanik, a 65-year-old widow from Sheffield Lake, Ohio, is dealing with—more than a decade after her husband passed away.
In an <a href="https://www.news5cleveland.com/news/local-news/investigations/local-woman-fighting-for-answers-after-social-security-wants-70k-clawback">interview with WEWS-TV in&nbsp; Cleveland</a>, Ruth shared her story: her husband Ed died in 2012 after battling leukemia. Now, she's being told she owes the Social Security Administration nearly $70,000 in alleged overpayments tied to him.
"He liked spending time with his family and especially my grandson," Ruth said. "He was a good guy and I really miss him."
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The issue? While Ed was out of work during treatment, he received disability payments. But when he eventually returned to work, the checks kept coming—and not because he wanted them to.
"Did he ever question…," the reporter began.
"Yes, he called them constantly," Ruth said. "(He) said ‘I'm back to work. Why am I getting this?' They said because you have Leukemia."
That was over a decade ago. And no one said anything—until now.
Ruth recently retired and applied for her husband's Social Security benefits. That's when she was blindsided with a notice from the SSA: they want $69,087.50 back.
"Not once did they say anything to me about, ‘Hey, you know you still got an overpayment here?'" she told WEWS, pointing to the document.
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Now, she's stuck in bureaucratic limbo, still waiting for clarity and fearing what's next. "I feel scared," she said. "Am I going to have to sell my house?"
While Ruth's case is deeply personal, it points to a broader question: how do these overpayments happen at all—and why are some being discovered so long after the fact?
According to the <a href="https://www.cbpp.org/blog/setting-the-record-straight-on-social-security">Center on Budget and Policy Priorities</a>, Social Security has a payment accuracy rate of over 99%, with only 0.3% of benefit payments considered improper. That statistic—backed by government-reported data—suggests most payments are accurate. But when something does go wrong, it's often due to what advocates and policy experts say are administrative delays, outdated systems, or communication breakdowns inside the SSA.
In cases like Ruth's, the system may have failed to properly flag her husband's return to work, despite his reported efforts to notify the agency. It's a scenario that legal aid groups say happens more often than the public realizes—not because of fraud, but because of bureaucracy.
And while the mistake occurred years ago, the collection effort is still legally sound. The <a href="https://www.ssa.gov/pubs/EN-05-10098.pdf?utm_source=chatgpt.com">SSA has specific timeframes</a> to determine overpayments:
<ul class="wp-block-list">
<li>Title II (Social Security retirement, survivors, disability): The SSA generally has four years to reopen or revise a previous benefits decision.</li>
<li>Supplemental Security Income: The timeframe is two years.</li>
</ul>
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These periods are outlined in SSA regulations and are intended to limit the window for reassessing benefit determinations.
However, <a href="https://www.benzinga.com/general/health-care/25/05/45222153/social-security-halves-overpayment-clawbacks-after-outcry-but-advocates-say-50-cut-still-stings">once an overpayment is identified</a> within these timeframes, the SSA can pursue recovery indefinitely. There is no statute of limitations on collecting overpayments, meaning the agency can seek repayment years, even decades, later. This policy has led to situations where beneficiaries are notified of overpayments long after the fact, as <a href="https://www.cbsnews.com/news/social-security-overpayment-mistakes-can-become-your-responsibility-60-minutes-transcript/">highlighted in a CBS News report</a>.&nbsp;
The SSA provides an appeal process, waiver options, and payment plans—but in many cases, the burden is on beneficiaries to prove they're not at fault.
For Ruth, the paperwork, confusion, and stress keep piling up. She's grieving, retired, and now staring down a bill that she and her husband <a href="https://www.benzinga.com/money/smartasset">tried to prevent from the start</a>.
And she's not the only one asking: if he called "constantly," why is she the one being left to clean it up?
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'I Feel Scared' — 65-Year-Old Widow Hit With $70K Social Security Bill A Decade After Husband's Death, He Called SSA 'Constantly' To Fix  Overpayment

President Donald Trump's push to bring back manufacturing to the U.S. from abroad has forced major companies to rethink their entire business models and invest in the country.
Earlier this year, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) announced plans to invest $500 billion in the U.S. to expand its manufacturing in the country, while Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) said last month that it will produce AI servers worth up to $500 billion in the U.S. Other major tech giants, including Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, GOOGL)) and IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), have also announced their U.S. investment plans.
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In an interview with <a href="https://www.cnbc.com/2025/04/29/cnbc-transcript-united-states-commerce-secretary-howard-lutnick-speaks-with-cnbcs-brian-sullivan-on-the-exchange-today.html">CNBC</a> last month, U.S. Commerce Secretary Howard Lutnick talked about the progress the Trump administration has made so far in reshoring key manufacturing. Lutnick said the U.S. needs to cut its reliance on foreign manufacturing for national security and economic progress.&nbsp;
<h2 class="wp-block-heading">‘Jobs of the Future'</h2>
Asked how the U.S. would secure the workforce needed for manufacturing, Lutnick said community colleges need to start training people for "jobs of the future" based on a "new model" where American families would work in major manufacturing plants.
"It's time to train people not to do the jobs of the past, but to do the great jobs of the future," Lutnick said. "You know, this is the new model where you work in these kinds of plants for the rest of your life and your kids work here and your grandkids work here."&nbsp;
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Lutnick called his proposed model the "future" of American manufacturing and said it would create job opportunities with salaries starting around $80,000 and rising to as much as $200,000.
"This is tradecraft. This is high school-educated, great jobs that start in the 80s and 90s and go up to one hundred and fifty to two hundred thousand dollars," according to Lutnick. "We are going to drive the high-value, high-performance jobs to America."
Lutnick's model assumes that the "rest of the world" will make "low-value" products and sell to the U.S. "inexpensively," he said.
When asked about the potential impact of automation and robotics on manufacturing, Lutnick said that even highly automated plants need humans to operate and fix equipment.
"What you're going to see is a highly automated plant that employs three thousand people per plant," he said. "You&#8217;ve got to remember these plants, all these automated arms and stuff. They need to be fixed. They all need a technician to fix them."
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Lutnick emphasized that bringing critical manufacturing back to the U.S. has national security significance, adding that without domestic semiconductor production, the country cannot build drones or fighter jets for its defense.
He also highlighted the importance of automobile manufacturing, connecting it to the production of military equipment.
"Why do you need to make autos? Because if you decide you want to make tanks and you want to make trucks and in military, if you don't have steel, if you don't have aluminum, if you don't have cars, you know what you are? You're nowhere," he said.
Americans are <a href="https://www.benzinga.com/personal-finance/25/05/45336111/warren-buffett-didnt-buy-a-new-car-for-years-heres-why-you-might-want-to-wait-even-with-looming-tariffs">scrambling</a> to buy new cars as Trump&#8217;s tariffs on imported vehicles and auto parts are expected to drive up prices. Some analysts <a href="https://www.usatoday.com/story/money/cars/2025/05/05/economists-tariff-costs-per-vehicle/83446003007/">estimate</a> the tariff impact to range from $2,000 to $15,000 per vehicle in the U.S.
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Trump's Commerce Secretary Says Future of American Manufacturing is 'Tradecraft' Jobs That Only Require High School Education - 'Great jobs that Start in $80,000'

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener"> many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
U.S. markets experienced heightened volatility this week as President Donald Trump intensified trade tensions by threatening a 25% tariff on foreign-made Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) products and announcing a 50% tariff on European Union imports starting June 1. These announcements led to a decline in major indices, with the S&amp;P 500 falling 0.7%, the Dow Jones dropping 0.6%, and the Nasdaq decreasing by 1%. Apple shares were particularly affected, losing 3% in value.
Investor concerns over the U.S. fiscal outlook grew as the 30-year Treasury yield briefly surpassed 5.15%, reflecting apprehensions about rising deficits and debt sustainability. A weak 20-year Treasury auction further exacerbated these fears, indicating diminished demand for long-term U.S. debt.
Looking ahead, market participants are closely monitoring upcoming U.S.-China trade negotiations and potential adjustments to existing tariffs. The Federal Reserve's stance on interest rates remains a focal point, especially as real borrowing costs rise, tightening broader financial conditions. Additionally, corporate earnings reports and economic indicators will continue to influence market dynamics in the coming weeks.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.

The Bulls
<a href="https://www.benzinga.com/trading-ideas/technicals/25/05/45544614/google-could-smart-glasses-smart-speech-spark-the-stocks-next-big-leap">"Google: Could smart glasses, speech spark the stock's next big leap?"</a>, by Surbhi Jain, reports that Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) is gaining investor attention as its partnership with Warby Parker to develop AI-powered smart glasses and advancements in speech recognition technology signal a potential new growth narrative beyond search.
<a href="https://www.benzinga.com/government/regulations/25/05/45574763/goldman-sachs-defense-stock-golden-dome">"Goldman Sachs: Golden Dome is big win for this defense stock"</a>, by Piero Cingari, reports that Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) analyst Noah Poponak reiterated a Buy rating on L3Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>), highlighting its potential to secure billions in contracts from the Trump administration's $175 billion "Golden Dome" missile defense initiative.
<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45531583/amd-nvidia-shares-jump-after-musk-highlights-xais-gpu-needs-we-expect-to-still-buy-a-lot">"AMD, Nvidia shares jump after Musk highlights xAI's GPU needs: ‘We expect to still buy a lot'"</a>, by Adam Eckert, reports that Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares rose after Elon Musk stated that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and xAI plan to purchase "a lot" of GPUs from both companies to support AI initiatives like robotaxis and the Optimus robot.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45541780/d-wave-quantum-stock-extends-rally-as-momentum-builds-following-launch-of-new-quantum-system">D-Wave Quantum Stock Extends Rally As Momentum Builds Following Launch Of New Quantum System</a>
<a href="https://www.benzinga.com/25/05/45517783/magnificent-7-stun-the-street-with-the-best-earnings-beat-since-2021">Magnificent 7 Stun The Street With Best Earnings Beat Since 2021</a>
<a href="https://www.benzinga.com/25/05/45540768/medtronic-beats-q4-forecasts-hikes-dividend-plans-diabetes-spinoff">Medtronic Beats Q4 Forecasts, Hikes Dividend, Plans Diabetes Spinoff</a>

The Bears
<a href="https://www.benzinga.com/news/legal/25/05/45568107/solar-energy-stocks-drop-as-house-approves-major-rollback-of-climate-incentives">"Solar energy stocks drop as House approves major rollback of climate incentives"</a>, by Erica Kollmann, reports that Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) shares fell after the House passed President Trump's "One Big, Beautiful Bill," which rolls back key climate incentives, leaving the solar industry facing uncertainty as the bill moves to the Senate.
<a href="https://www.benzinga.com/25/05/45540759/target-stock-slips-as-q1-earnings-miss-estimates-fy2025-outlook-cut-amid-slowing-sales">"Target stock slips as Q1 earnings miss estimates, FY2025 outlook cut amid slowing sales"</a>, by Nabaparna Bhattacharya, reports that Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) shares fell after the company missed Q1 earnings expectations and lowered its FY2025 outlook, citing a 3.8% drop in comparable sales driven by tariffs, weakened consumer sentiment, and backlash from scaling back diversity, equity, and inclusion initiatives.
<a href="https://www.benzinga.com/news/rumors/25/05/45555558/wolfspeed-stock-plunges-59-on-bankruptcy-fears-options-traders-cash-in">"Wolfspeed stock plunges 59% on bankruptcy fears: Options traders cash in"</a>, by Erica Kollmann, reports that Wolfspeed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) shares plummeted 59% to $1.28 after reports emerged that the company is preparing to file for Chapter 11 bankruptcy, with options traders profiting from heavy put activity ahead of the news.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/government/regulations/25/05/45554854/health-care-stocks-like-unitedhealth-cvs-tank-on-wednesday-heres-why">Health Care Stocks Like UnitedHealth, CVS Tank On Wednesday: Here's Why</a>
<a href="https://www.benzinga.com/25/05/45567780/hims-hers-health-stock-is-tumbling-thursday-whats-happening">Hims &amp; Hers Health Stock Is Tumbling Thursday: What's Happening?</a>
<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>

Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.
Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Alphabet, L3Harris, Target — And Latest Tariff News Roils Markets

Rain AI, a San Francisco-based chip startup backed by OpenAI CEO <a href="https://www.benzinga.com/news/25/05/45230322/worldcoins-orb-mini-launches-in-u-s-backed-by-sam-altman-visa-and-match-group-to-distinguish-humans-from-ai">Sam Altman</a>, is exploring a sale after its ambitious $150 million Series B funding round failed to secure investors.
Despite early backing from Altman in a $25 million seed round in 2022, Rain AI has struggled to convert technical ambition into scalable business outcomes. The company, which aimed to rival industry giants like Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with its energy-efficient <a href="https://www.benzinga.com/25/05/45427189/tencent-says-it-has-enough-high-end-ai-chips-to-train-models-for-generations-after-trump-administration-bans-huawei-tech-anywhere-in-the-world">chips</a>, is now in discussions with potential buyers, including OpenAI, according to<a href="https://nypost.com/2025/05/15/business/sam-altman-backed-chipmaking-startup-rain-ai-explores-sale-after-150m-fundraising-flops-sources/"> New York Post</a>.
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<h2 class="wp-block-heading">Inside Rain AI's Pivot</h2>
<a href="https://www.wired.com/story/openai-buy-ai-chips-startup-sam-altman/">Wired</a> reports that Rain AI aimed to develop neuromorphic chips designed to process AI workloads more efficiently by mimicking how the human brain functions. According to Wired, the company hoped these chips would deliver better performance at a fraction of the power consumption compared to traditional graphics processing units, making them ideal for generative AI models.
According to the Post, testing showed promising results, but the company failed to secure major commercial contracts or letters of intent, a problem that hampered investor confidence. One source close to the company told the Post that the founders were talented engineers but lacked the sales acumen to close enterprise deals.
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>
Rain AI&#8217;s co-founder, Jack Kendall, acknowledged to stakeholders that the company was rapidly depleting its cash reserves and urgently required a $3 million bridge fund to sustain operations while negotiating a potential acquisition. The Post says that the company has since secured the emergency funding and entered what was described as &#8220;good progress&#8221; in acquisition talks with multiple interested parties.
These talks involve several high-profile technology firms that view Rain AI's hardware as a strategic foothold in the increasingly competitive chip market. While the company had originally planned to launch its Series B round in December, the raise was delayed repeatedly due to leadership instability and difficulty closing large institutional checks, the Post reports.
The company also hired former Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) veteran Jean-Didier Allegrucci to lead chip development efforts, bringing experience from Apple's custom silicon division, the Post says.
See Also: The team behind $6B+ in licensing deals is now building the next billion-dollar IP empire — <a href="https://www.benzinga.com/money/elf-labs-ym?v=123">invest early at $2.25/share.</a>
<h2 class="wp-block-heading">Executive Reshuffle and Emergency Capital</h2>
Will Passo, Rain AI's co-founder and original CEO, stepped down citing personal reasons, and Kendall has since taken over as CEO, the Post reports.
Rain AI is now in discussions with multiple technology giants about a potential acquisition. OpenAI, which has begun interviewing Rain employees to assess talent fit, is a top contender. Altman had previously pitched OpenAI investors to support Rain AI's Series B, aiming for a $600 million valuation, according to the Post.
Rain AI's uncertain future unfolds against a backdrop of aggressive expansion in the AI hardware ecosystem. The Post reports that Nvidia, Elon Musk's xAI, Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) are among the giants investing more than $30 billion to build the next generation of AI infrastructure.
Rain AI may not have achieved its original vision, but its core technology and its team remain valuable assets for any player looking to gain ground in the competitive AI chip race.
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Image: Shutterstock

Sam Altman's $150M AI Chip Bet Crashes: Rain AI Faces Sale As OpenAI, Nvidia, And Microsoft Circle The Wreckage

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