iShares U.S. Digital Infrastructure and Real Estate ETF (ARCA: IDGT)

最新ニュース iShares U.S. Digital Infrastructure and Real Estate ETF (ARCA:IDGT)

Technology

Real Estate

The Fund seeks to track the investment results of the S&P Data Center, Tower REIT and Communications Equipment Index (the Underlying Index), which measures the performance of stocks of U.S.-listed companies, as well as U.S.-listed American Depository Receipts (ADRs) of foreign companies from developed markets, involved in the ownership and management of data centers, telecommunication towers, and related equipment, as determined by S&P Dow Jones Indices LLC (the Index Provider or SPDJI).

American Tower Corp

Crown Castle International Corp

Equinix, Inc.

Digital Realty Trust Inc.

Uniti Group Inc Com

Fastly Inc

Telefonaktiebolaget LM Ericsson B ADR

Arista Networks Inc.

Cisco Systems, Inc.

Motorola Solutions Inc.

Ciena Corp

Qualcomm Inc.

Marvell Technology Group Ltd.

Nokia Corporation (ADR)

Sba Communications Corp.

Juniper Networks Inc.

iShares US Digital Infrastructure and Real Estate ETF

iShares U.S. Digital Infrastructure and Real Estate ETF

On Sunday, OpenAI CEO Sam Altman acknowledged that the last few updates to the GPT-4o model made its personality &#8220;too sycophant-y and annoying.&#8221;
What Happened: Altman took to X, formerly Twitter, and said, "The last couple of GPT-4o updates have made the personality too sycophant-y and annoying (even though there are some very good parts of it), and we are working on fixes asap, some today and some this week."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">the last couple of GPT-4o updates have made the personality too sycophant-y and annoying (even though there are some very good parts of it), and we are working on fixes asap, some today and some this week. at some point will share our learnings from this, it&#39;s been interesting.
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1916625892123742290?ref_src=twsrc%5Etfw">April 27, 2025</a></blockquote>
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In response to a user asking if the old personality could return, Altman replied, "Yeah, eventually we clearly need to be able to offer multiple options."
See Also: <a href="https://www.benzinga.com/general/entertainment/25/04/45026578/bill-ackman-missed-out-on-3-4-billion-payday-by-selling-netflix-stock-before-the-boom-nflx-now-seen-as-a-recession-play">Bill Ackman Missed Out On $3.4 Billion Payday By Selling Netflix Stock Before The Boom: NFLX Now Seen As A Recession Play</a>
His comments follow OpenAI's announcement of a GPT-4o upgrade, aimed at improving both the model's intelligence and personality. At the time, a user noted that ChatGPT had felt &#8220;very yes-man like lately,&#8221; to which Altman agreed, saying, "Yeah, it glazes too much. Will fix."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">yeah it glazes too much will fix
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1915910976802853126?ref_src=twsrc%5Etfw">April 25, 2025</a></blockquote>
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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.
Why It's Important: Earlier this month, <a href="https://www.benzinga.com/25/04/44881778/amid-rising-competition-from-chinas-deepseek-and-us-rivals-openai-ceo-sam-altman-launches-codex-cli-a-coding-agent-that-runs-on-your-computer">OpenAI launched</a> ‘o3' and ‘o4-mini,' the newest additions to its o-series, built to deliver more thoughtful and deliberate responses. It also launched Codex CLI, a new open-source coding agent.
The Altman-led AI startup has also finalized a <a href="https://www.benzinga.com/25/04/44580172/openai-finalizes-historic-40-billion-funding-round-valuing-company-at-300-billion-with-backing-from-softbank-and-microsoft">landmark $40 billion funding round</a>, boosting its valuation to $300 billion. Key investors in the round include SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
This is reportedly the largest funding round in history and nearly doubles OpenAI's previous valuation of $157 billion.
Photo Courtesy: Meir Chaimowitz 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>.
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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.

News

Tech

MSFT

SFTBF

SFTBY

Sam Altman Admits ChatGPT New Upgrade Made It Too Sycophantic And Annoying: OpenAI CEO Says 'Working On Fixes ASAP'

Chamath Palihapitiya took to X on Sunday to discuss Huawei&#8217;s strategic approach in the tech industry. Palihapitiya emphasized that Huawei, a prominent Chinese company, has successfully implemented a &#8220;low-end disruptor&#8221; strategy. This involves creating products that are either equivalent to or better than those of existing market leaders, but at a lower cost.
What Happened: The SPAC King identified several companies that Huawei has already outperformed, including Telefonaktiebolaget LM Ericsson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>), Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>), and Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISCO#NASDAQ">CISCO</a>). He also noted that Huawei is making progress against QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and has set its sights on Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). Palihapitiya&#8217;s comments come amid growing concerns about China&#8217;s technological advancements and their impact on global markets.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Worth noting that Huawei, a Chinese National Champion, has systematically executed a "low-end disruptor" strategy with a lot of success. "Low-end Disruptor" simply means making an equivalent or better product for less than incumbents. End bossed: 1. Ericsson 2. Nokia 3. Cisco…
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1916529549502013649?ref_src=twsrc%5Etfw">April 27, 2025</a></blockquote>
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Palihapitiya&#8217;s remarks align with recent developments in China&#8217;s tech sector, where companies like Huawei are advancing despite international challenges. This includes Huawei&#8217;s efforts to <a href="https://www.benzinga.com/tech/25/04/44970472/chinas-chip-breakthrough-without-asml-makes-chamath-palihapitiya-take-stock-of-beijings-formidable-nature-america-can-win-if">develop in-house chips</a> to counter U.S. sanctions, as reported in March.
See Also: <a href="https://benzinga.com/25/04/45003790/mark-cuban-slams-amazon-for-ripping-off-american-sellers-as-tariffs-are-predicted-to-boost-ecommerce-brands-profi" target="_blank" rel="noreferrer noopener">Mark Cuban Slams Amazon For &#8216;Ripping Off American Sellers&#8217; As Trump Tariffs Are Predicted To Boost Ecommerce Brands&#8217; Profits</a>
Why It Matters: Palihapitiya&#8217;s observations underscore the competitive pressure that Chinese companies are exerting on Western tech giants. Huawei&#8217;s strategy of producing cost-effective yet high-quality products is reshaping the competitive landscape. This is particularly relevant as China continues to make strides in chip manufacturing, even without access to advanced tools like those from ASML Holding .
Huawei is <a href="https://www.benzinga.com/25/03/44356270/huawei-develops-in-house-chips-to-counter-us-sanctions-and-leap-ahead-in-the-tech-war">accelerating efforts</a> to replace U.S. components by developing its own computer chips and operating system, with its Kirin X90 chip recently earning national security certification. As its Windows license nears expiration, Huawei plans to launch HarmonyOS-powered PCs later this year to reduce reliance on American technology amid rising U.S.-China trade tensions.
Palihapitiya has previously <a href="https://in.benzinga.com/markets/25/04/44891778/nvidia-not-acting-in-us-interests-says-chamath-palihapitiya-questions-how-alibaba-or-deepseek-are-one-step-ahead">expressed concerns</a> about companies like Nvidia not acting in the best interests of the U.S., highlighting the geopolitical implications of these technological advancements.
Benzinga Edge Stock Rankings identify Nvidia&#8217;s Growth Momentum in the 94th percentile. How do other chip plays stack up? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a> and find out.
<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="786" height="98" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23.png" alt="" class="wp-image-889985" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23.png 786w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23-300x37.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23-768x96.png 768w" sizes="(max-width: 786px) 100vw, 786px" /></a></figure>
Photo Courtesy: Kathy Hutchins 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>

CISCO

ERIC

NVDA

QCOM

Chamath Palihapitiya Says Nvidia Is Huawei's 'New Target' — A 'National Champion' That Crushed Tech Giants With A 'Low-End Disruptor' Strategy

Bitcoin continues to assert its leadership across the digital asset market, with Bitcoin Dominance climbing to a new local high of 64% as of April 22. This metric, which tracks Bitcoin's share of the total crypto market cap, highlights a clear and growing shift in capital toward BTC as the asset rallies past $90,000, currently trading at $92,700.
With Bitcoin now just 18% off its all-time highs, the asset&#8217;s performance becomes even more impressive when stacked against traditional markets. The S&amp;P 500 remains approximately 15% below its record levels, while the Nasdaq Composite lags by more than 20%. This comparison reinforces Bitcoin&#8217;s relative strength and increasing appeal as a macro asset—especially in a market where liquidity remains tight and investors are gravitating toward quality.
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This resurgence in BTC dominance comes at a time when ETF inflows are once again picking up steam, fueling renewed institutional interest. The regulatory landscape, while still evolving, appears to be stabilizing in Bitcoin's favor, especially when compared to the murky and often unpredictable regulatory path facing many altcoins.
Altcoins, by contrast, are struggling. Outside of isolated daily pumps, most of the altcoin market remains in a downtrend or in accumulation phases far from previous highs. Many lack the institutional interest, product-market fit, or meaningful on-chain activity to justify significant upside in the current environment. Fundamentally, the disparity between Bitcoin and most alts has never been clearer—and the market is pricing that in.
That said, some names did show strength. SUI was a standout performer, posting a gain of over 20% on the day and currently trading at $2.60. Despite the bounce, it remains more than 100% away from its all-time high, reminding investors how deep the bear market drawdowns have been for many newer Layer 1s and speculative projects.
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Ethereum also posted a notable move, gaining 10% in a single session to trade at $1,745. While a positive development, ETH still has a long way to go—needing a 170% rally just to revisit its former highs near $4,900. The underperformance of ETH, traditionally seen as Bitcoin's closest competitor, further illustrates the widening gap in investor confidence between BTC and the rest of the market.
This growing disparity underscores more than just price action—it highlights a changing narrative. Bitcoin is being recognized not only as a risk asset but increasingly as a long-term store of value, particularly in uncertain times. The rise in BTC dominance is a reflection of capital rotating into perceived safety, and away from speculative ventures with shaky fundamentals.
To be clear, this doesn't mean altcoins are obsolete—though let's be honest, many are. But it does show how hard it is to consistently &#8220;beat the market&#8221; when Bitcoin is the market.
As BTC.D continues to climb, it sends a clear and resounding message: in crypto, strength leads. And right now, Bitcoin is doing just that.
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Image: Shutterstock

Personal Finance

Bitcoin Dominance Surges To 64%: What It Means For Altcoins And The Crypto Market Landscape

Greenland's Prime Minister Jens-Frederik Nielsen expressed dissatisfaction with the United States&#8217; approach to discussions about acquiring Greenland. Nielsen reportedly stated, on Sunday, that U.S. officials have not shown respect in their communications.
What Happened: During a press conference near Copenhagen, Nielsen emphasized that Greenland, which is a semi-autonomous region under Denmark, will never be sold, <a href="https://thehill.com/homenews/administration/5270172-greenland-prime-minister-denmark-trump/">reported</a> The Hill. He stressed the importance of unity in response to the U.S. interest, which has been vocalized by President Donald Trump.
The Greenlandic leader added, &#8220;The talks from the United States have not been respectful,&#8221; said Nielsen. &#8220;The words used have not been respectful. That's why we need in this situation, we need to stand together.&#8221;
Danish Prime Minister Mette Frederiksen supported Nielsen&#8217;s stance, highlighting Denmark&#8217;s commitment to investing in Greenland for both historical and commonwealth reasons. She reiterated Denmark&#8217;s dedication to Greenlandic society, as reported by The Hill.
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45002822/letitia-james-attorney-blasts-mortgage-fraud-claims-as-improper-political-retribution" target="_blank" rel="noreferrer noopener">Letitia James Denies Trump Official&#8217;s &#8216;Improper Political Retribution&#8217; Mortgage Fraud Claim, Calls DOJ Referral Hypocritical After $500 Million Verdict</a>
When questioned about a potential meeting with Trump, Frederiksen expressed openness to discussions with the American president but underscored Denmark&#8217;s clear stance regarding its territories. The Hill noted her comments on the importance of maintaining the Danish commonwealth&#8217;s&nbsp;approach to all parts of&nbsp;the Kingdom of Denmark.
Why It Matters: The U.S. interest in Greenland has been a topic of contention, especially following Trump&#8217;s recent comments suggesting the <a href="https://www.benzinga.com/news/global/25/01/42864556/trump-does-not-rule-out-military-force-to-acquire-panama-canal-greenland-we-need-them-for-economic-security">potential use of military force</a> to acquire the territory for economic security. This has raised concerns among Greenlanders, with a <a href="https://in.benzinga.com/startups/25/02/43561516/trump-shouldnt-have-greenland-why-the-arctic-island-is-rejecting-a-us-buyout">February 2025 poll</a> indicating that 85% of residents oppose the U.S. acquisition proposal.
Vice President JD Vance has <a href="https://www.benzinga.com/25/03/44549976/jd-vance-slams-denmark-for-not-keeping-greenland-safe-from-russian-chinese-incursions-we-can-make-them-much-more-secure">criticized Denmark&#8217;s ability</a> to protect Greenland from foreign incursions, suggesting that the U.S. could offer better security.
Photo Courtesy: Polar Media 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>

Politics

General

Trump's Greenland Ambitions Get Rebuked: Prime Minister Says'The Talks From The United States Have Not Been Respectful'

<a href="https://www.benzinga.com/news/25/03/44238467/warren-buffett-shares-biggest-investing-mistakes-433m-deal-that-cost-berkshire-billions-and-trillion-dollar-tech-stocks-he-missed">Warren Buffett'</a>s decades-long track record of beating Wall Street is rooted not just in financial strategy but in an unusual discipline: avoiding distractions. The Berkshire Hathaway&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)) chair and CEO said his success stems from a firm belief that investors focus too much on short-term events.
<h2 class="wp-block-heading">Avoiding Noise, Embracing Discipline</h2>
During the <a href="https://buffett.cnbc.com/video/2009/05/02/morning-session---2009--berkshire-hathaway-annual-meeting.html">2009 Berkshire Hathaway shareholders meeting</a>, Buffett recalled a pivotal moment in his life: a stop in Las Vegas in 1952. He and his wife, Susie, had just married and were driving west when they visited the Flamingo Hotel. What he saw there would shape his views for a lifetime.
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"I looked around and saw all these well-dressed people who had come, in some cases, from thousands of miles away," Buffett said. "This was before jets, so transportation wasn't as good. They'd gone to great lengths to do something that every damn one of them knew was mathematically dumb."
Buffett observed the gambling crowd and quickly recognized a truth that would later fuel his investment philosophy: irrational behavior creates opportunity. He turned to Susie and said, "We are going to make a lot of money."
At Berkshire Hathaway's 2019 shareholders meeting, Buffett revisited the Vegas story with more emphasis. "If people are going to get on a plane in New York and fly a couple thousand miles to stand there and do things with a mathematical expectation that's negative on every action they take, that is a world of opportunity," he said.
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His strategy includes tuning out digital noise. He does not use a smartphone and avoids checking email frequently. He told <a href="https://www.cnbc.com/2018/12/17/warren-buffett-says-read-this-poem-when-the-market-is-tanking.html">CNBC</a> in December 2018 that doing so keeps him focused and immune to what he called "breathless commentary" on business news programs.
In his 2017 <a href="https://www.berkshirehathaway.com/letters/2017ltr.pdf">shareholder letter</a>, Buffett wrote, "Your mind may well be rattled by scary headlines … and an unsettled mind will not make good decisions."&nbsp;
That mindset has paid off. Since the May 2010, "flash crash," when the Dow Jones Industrial Average fell more than 9% in 30 minutes, the index has surged approximately 270%. Over the same period,<a href="https://www.benzinga.com/news/25/02/43912215/berkshire-hathaway-dumps-ulta-beauty-citi-and-etfs-but-buffett-just-bet-1-2-billion-on-this-alcohol-giant"> Berkshire Hathaway</a> shares have gained more than 560%.
Buffett told <a href="https://buffett.cnbc.com/video/2010/01/20/buffett-class-b-stock-split-was-easy-decision-full-interview.html?&amp;start=2763">CNBC</a> in January 2010, "I don't know where the market will be in a day, month, or year, but the greatest mistake investors make is to try to time what business will do. It's always a time of uncertainty. Every single day, but uncertainty can be your friend."
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Image: Shutterstock

Warren Buffett Says 'People React Too Much To Short-Term Things' — Why His No-Phone, No-Email Rule Helped Him Beat Wall Street Noise

<a href="https://www.benzinga.com/personal-finance/25/03/44068159/nba-legend-shaq-says-his-net-worth-quadrupled-once-he-took-note-from-jeff-bezos-and-started-investing-in-things-that-change-peoples-lives">Shaquille O'Neal</a> may have dominated on the court, but in matters of the heart? He's the first to admit — he dropped the ball.
After ex-wife Shaunie O'Neal said she wasn't sure she ever really loved him, Shaq didn't dodge. He didn't deflect. He just posted one simple, <a href="https://www.instagram.com/reel/C6t0miFuSyA/?igsh=Y3hqbzFqZ2Zqa3E5">gut-punch of a message on Instagram</a> last May:
"I understand. I wouldn't have been in love with me either. Wishing you all the best. All love." The post caption read, "trust me, I get it."
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The post sent fans into a frenzy. Some were heartbroken. Others were worried. Was he okay? Even son Shareef jumped into the comments with a reality check:
"Love you, man! You saved my life. Literally the most lovable and likable person on the planet."
Shaunie had just gone public with her memoir, "Undefeated: Changing the Rules and Winning On My Own Terms", where she wrote, "Looking back, I don't know that I was ever really in love with the man, but I was in love with the idea of being married to the man I had a family with."
She described enjoying time with him on NBA road trips — but made it clear the marriage was built more on image and routine than deep connection.
Shaq, to his credit, took the hit. And this wasn't his first time owning up to his role in the collapse. Back in 2022, on <a href="https://youtu.be/HeojkELPHzo?si=LaXUBA8vS1eBzAlq">"The Pivot Podcast"</a>, he said bluntly:
"I was bad. She was awesome. She really was. It was all me. She did exactly what she was supposed to do…gave me beautiful kids, take care of the house, take care of the corporate stuff. It was all me."
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He also revealed what life looked like after she and the kids moved out of their <a href="https://www.benzinga.com/personal-finance/25/01/43106699/i-had-it-all-nba-legend-shaq-blames-himself-for-divorce-76000-sq-ft-house-by-yourself-no-kids-go-to-their-room-and-nobodys-there">76,000-square-foot mansion</a> in Orlando — and spoiler: it wasn't luxury, it was loneliness.
"You go to the gym — nobody. Go to their rooms — nobody. You start to feel it. The silence starts to get to you."
Shaq had it all — fame, money, trophies — but admits he lost the one thing that actually <a href="https://www.benzinga.com/real-estate/24/10/41168132/nba-legend-shaq-only-used-2-rooms-in-his-76-000-sq-ft-mansion-the-kitchen-because-i-like-to-eat-and">made that house a home</a>.
Shaunie remarried in 2022. Shaq remains single — but still full of grace. "I'm happy for her. I hope this gentleman treats her the way she's supposed to be treated. I'ma still love her," <a href="https://www.essence.com/lifestyle/shaquille-oneal-shaunie-2/">he told Essence</a>.&nbsp;
In the end, the Big Diesel reminds everyone: even giants can feel small when the house is too quiet.
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NBA Legend Shaq Says He Felt 'Lost' Wandering His 76,000-Square-Foot House Alone After Divorce — 'The Silence Starts To Get To You'

In 2022, <a href="https://www.youtube.com/live/cdZZpaB2kDM?si=iE1KpBYZGSQsR9oL">during a TED interview in Vancouver</a>, Elon Musk delivered the kind of line that doesn't leave much room for humility.
"At this point, I think I know more about manufacturing than anyone currently alive on Earth," he said, after recounting what he called three years of "excruciating pain" while ramping up production of the Model 3. "We were on the ragged edge of bankruptcy the entire time… I can tell you how every damn part in that car is made."
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That stretch—2017 through 2019—was brutal, Musk admitted. But by 2022, he seemed confident Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp; had cracked the code. Factories were smarter. Processes were streamlined. The future, according to Musk, would be different.
Now in 2025, that confidence is facing a reality check—one stainless steel panel at a time.
Tesla began Cybertruck deliveries in late 2023. Since then, the truck has been recalled eight times in 15 months. The most recent issue came this month, when U.S. safety regulators issued a recall covering 46,096 Cybertrucks—virtually every one on the road.
According to the <a href="https://www.nhtsa.gov/vehicle/2024/TESLA/CYBERTRUCK/PU%2FCC/AWD">National Highway Traffic Safety Administration</a>, a panel known as the cant rail assembly—running along both sides of the windshield—can detach while driving. The part is secured with structural adhesive that, as it turns out, might not hold up in the real world. Tesla's fix involves a stronger adhesive and added reinforcements. Notices are expected to go out to owners by May 19.
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This follows a November recall over an inverter defect that could cause the drive wheels to lose power—just one in a string of problems that's kept the Cybertruck's <a href="https://www.benzinga.com/personal-finance/25/03/44249300/tesla-cybertruck-owner-says-hes-lost-70k-in-business-over-backlash-customers-hate-it-but-he-loves-it-the-best-truck-ive-ever-had">rollout anything but smooth</a>.
Compounding the technical issues, Tesla's efforts to market the Cybertruck have faced challenges. Initially promoted as a futuristic, high-status vehicle, the Cybertruck attracted celebrity attention and generated immense hype.&nbsp;
On an earnings call just a month before the Cybertruck's November 2023 launch, Musk declared that Tesla had racked up "over 1 million" reservations and said demand was "off the charts." However, sales have been disappointing, <a href="https://www.benzinga.com/news/25/03/44536773/demand-is-off-the-charts-elon-musk-claimed-tesla-had-over-1-million-cybertruck-reservations-just-46096-have-been-sold-in-14-months">with fewer than 50,000 units delivered</a>.&nbsp;
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In response, Tesla has shifted its marketing strategy, <a href="https://www.benzinga.com/markets/25/04/44919745/cybertruck-gets-a-down-to-earth-redesign-as-tesla-shifts-to-traditional-pickup-marketing-amid-poor-sales">repositioning the Cybertruck as a practical, work-capable pickup</a> akin to the Ford F-150. This rebranding aims to appeal to traditional truck buyers, particularly in red-state markets, amid concerns that Musk's political affiliations may have alienated some potential customers.
To be clear, none of this erases Tesla's very real achievements in reinventing car factories or scaling production faster than just about anyone thought possible. But it does cast a playful shadow over Musk's boldest manufacturing claims—because knowing how every part is made doesn't always guarantee they'll get along once they hit the road.
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TSLA

Elon Musk Said With Confidence 'I Know More About Manufacturing Than Anyone Alive'—Then the Cybertruck Rolled Out With 8 Recalls And A PR Mess

John Santora, the CEO of&nbsp;WeWork, has revealed that the current economic uncertainty due to tariffs is driving an increase in&nbsp;business for the coworking space&nbsp;company.
What Happened: Speaking&nbsp;at a recent summit, Santora highlighted the reluctance of companies to commit to long-term leases amidst the prevailing tariff uncertainty.
During the summit, he <a href="https://www.youtube.com/watch?v=rfW-nEDvWuQ">pointed</a> out that many businesses are holding back their investments to assess the potential impact of tariffs on their operations. This has led to WeWork witnessing a surge in lease extensions from existing clients and growing interest from new companies in their short-term leasing options.
&#8220;So if we look at it and just take today&#8217;s environment with all the uncertainty around tariffs and what&#8217;s happening, who&#8217;s prepared to commit to a 10- or a 15-year lease with $50 or $100 million spend?&#8221; he said. 
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Speaking with Bloomberg, Santora further underscored the role of WeWork in offering flexibility to its clients during these uncertain times. He also suggested that the return-to-office mandates could potentially fuel WeWork&#8217;s business, as companies wrestle with the unpredictability of future office attendance.
&#8220;You have to think about it. You have to think whether or not to invest that major capital in a market, at least through this short term. You have to step back,&#8221; he <a href="https://www.bloomberg.com/news/audio/2025-04-25/bloomberg-talks-wework-ceo-john-santora-podcast?">said</a>. 
Why It Matters: WeWork&#8217;s business boost comes at a crucial time for the company, which went public through a SPAC in 2021 and&nbsp;filed for Chapter 11 bankruptcy&nbsp;in 2023. 
The company&#8217;s ability to capitalize on the current economic uncertainty and adapt its business model to cater to the changing needs of its clients could be key to its recovery and future growth. 
However, WeWork declined to comment further on this matter.
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Markets

This CEO Says Tariff Uncertainty Is Actually Good for His Business

In a bold move that&#8217;s stirring both excitement and concern, <a href="https://www.benzinga.com/news/25/04/44863402/nissan-taps-1-3b-backed-ai-pioneer-wayve-to-supercharge-propilot-system-ushering-a-new-era-of-human-like-driving">AI</a> researcher Tamay Besiroglu has launched Mechanize, a startup with the ambitious goal of fully automating all human labor.
Announced via a post on<a href="https://x.com/tamaybes/status/1912905467376124240"> X</a>, Besiroglu stated that Mechanize aims for &#8220;the full automation of all work&#8221; and &#8220;the full automation of the economy.&#8221; ​
<h2 class="wp-block-heading">What Comes After Humans? Mechanize Is Engineering the Answer</h2>
Mechanize plans to achieve this by developing virtual work environments, benchmarks, and training data to enable <a href="https://in.benzinga.com/news/25/03/44066026/satya-nadella-says-ai-agents-will-replace-knowledge-work-but-theres-one-role-humans-will-always-need-to-play">AI agents</a> to perform tasks traditionally done by humans. The startup is initially focusing on white-collar jobs, such as those in finance, customer service, and management, rather than manual labor roles that would require robotics. ​
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The startup has garnered significant backing from prominent figures in the tech industry, including former GitHub CEO Nat Friedman, tech investor Daniel Gross, Stripe co-founder and CEO Patrick Collison, podcaster Dwarkesh Patel, Google Chief Scientist Jeff Dean, investor Sholto Douglas, and crypto hedge fund AltX Managing Partner Marcus Abramovitch, according to the<a href="https://www.mechanize.work/"> announcement</a> on startup&#8217;s site.
<a href="https://techcrunch.com/2025/04/19/famed-ai-researcher-launches-controversial-startup-to-replace-all-human-workers-everywhere/">TechCrunch</a> reported that Abramovitch expressed his support, stating, &#8220;The team is exceptional across many dimensions and has thought deeper on AI than anyone I know.&#8221;
Besiroglu estimates the total addressable market for Mechanize&#8217;s services by aggregating all wages currently paid to human workers, amounting to approximately $18 trillion annually in the U.S. and over $60 trillion globally. ​
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Despite the ambitious vision, Mechanize&#8217;s launch has sparked controversy. Critics argue that the startup&#8217;s mission could lead to widespread job displacement and economic inequality. One X user<a href="https://x.com/AnthonyNAguirre/status/1912924156838183182"> commented</a>, &#8220;The automation of most human labor is indeed a giant prize for companies, which is why many of the biggest companies on Earth are already pursuing it. I think it will be a huge loss for most humans, as well as contribute directly to intelligence runaway and disaster. The two are inextricably linked. Hard for me to see this as something other than just another entrant in the race to AGI by a slightly different name and a more explicit human-worker-replacement goal.&#8221;
In response to concerns, Besiroglu contends that fully automating labor could lead to &#8220;vast abundance, much higher standards of living, and new goods and services that we can&#8217;t even imagine today.&#8221; In an interview with<a href="https://techcrunch.com/2025/04/19/famed-ai-researcher-launches-controversial-startup-to-replace-all-human-workers-everywhere/"> TechCrunch</a>, he suggests that even if wages decrease, people could derive income from other sources such as rents, dividends, and government welfare. ​
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<h2 class="wp-block-heading">Mechanize's Vision</h2>
Mechanize&#8217;s approach involves creating simulated environments and evaluations that capture the full scope of what people do at their jobs, including complex tasks like long-term planning and coordination.
The startup believes that by addressing the current shortcomings of AI models, such as unreliability and lack of long-context capabilities, it can unlock the potential for AI to perform a wide range of labor tasks.
As Mechanize moves forward, it joins a growing field of AI startups aiming to revolutionize the workforce. While the path ahead is fraught with ethical and economic challenges, the company&#8217;s vision has definitely ignited a critical conversation about the future of work in an increasingly automated world.
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Mechanize Raises Eyebrows And Millions: Tech Giants And Famous Investors Rally Behind AI Startup Aiming To Fully Automate The Global Workforce

World Network (WLD) outperformed some of the market&#8217;s most valued cryptocurrencies after soaring more than 50% over the week.&nbsp;
What happened: WLD, the native currency of the decentralized identity verification project, jumped 57.48% in the last seven days, becoming the sixth-largest market gain in the period.&nbsp;
The rally outgained returns by market heavyweights 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>), which trailed at 10.17% and 11.12%, respectively.
Over the week, the daily active addresses have more than doubled, while large whale transactions, valued at over $100,000, have soared 393%, <a href="https://app.intotheblock.com/?timeRange=7d">according </a>to IntoTheBlock.
Speculative interest has also spiked, with Open Interest in WLD's derivatives <a href="https://www.coinglass.com/BitcoinOpenInterest">surging </a>to a 3-month high of $340 million, per Coinglass. Over 67% of Binance traders with an open WLD position were betting on its price increase.
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Why It Matters: The searing rally comes ahead of the World Network&#8217;s upcoming event hosted by its founder and well-known tech entrepreneur, Sam Altman.
The San Francisco event, called "At Last," could see major updates for the network and the cryptocurrency, providing further impetus to the rally.
During the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395999/sam-altman-founded-worldcoin-is-changing-its-name-to-world-and-launching-its-own-blockchai">last such event</a> in October 2024, the project rebranded itself from "Worldcoin" to simply "World" and announced the launch of World Chain, an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 network.
<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">Building the largest human network for the age of AI takes all of us. You&#39;re invited &#x2709;&#xFE0F;<a href="https://t.co/0wbBPo4PEZ">https://t.co/0wbBPo4PEZ</a> <a href="https://t.co/zZLAliGXBH">pic.twitter.com/zZLAliGXBH</a>
&mdash; World (@worldcoin) <a href="https://twitter.com/worldcoin/status/1907857216700289273?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
World Network captures people&#8217;s irises to confirm their humanness and build a digital ID, making them eligible for free WLD tokens.
However, it has been mired in controversy over concerns of personal data privacy, getting outlawed in <a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns">Hong Kong</a>, Kenya, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p">Spain</a>.
Price Action: At the time of writing, WLD was exchanging hands at $1.16, up 18.60% 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>.
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Image: Shutterstock/jamesonwu1972

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

Cryptocurrency

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$BTC

$ETH

What Caused Sam Altman-Founded World Network Token To Soar 57% in a Week?

Former NBA player&nbsp;Shaquille O&#8217;Neal&nbsp;has seen a significant increase in his wealth, quadrupling his net worth through an investment strategy inspired by Amazon&#8217;s CEO,&nbsp;Jeff Bezos.
What Happened: In an interview, O&#8217;Neal disclosed that his investment choices are guided by their potential to positively impact people&#8217;s lives, a philosophy he adopted from Bezos.
O&#8217;Neal&#8217;s investments span a broad spectrum of industries, including&nbsp;Five Guys and Big Chicken&nbsp;restaurants, Carnival Cruise Lines, and 24 Hour Fitness. Earlier this year, he also joined the board of directors at Papa John&#8217;s.
The NBA Hall of Famer&#8217;s&nbsp;favorite investment is Krispy Kreme, where he owns multiple franchises. &#8220;Because&nbsp;I like donuts, and Charles&nbsp;Barkley loves donuts. He's my&nbsp;biggest customer,&#8221; O&#8217;Neal said while speaking with <a href="https://www.wsj.com/video/shaquille-oneal-discusses-investing-franchising-and-donuts/8063A172-ABFF-496B-8700-4D51A6234054.html">The</a> Wall Street Journal.
Interestingly, O&#8217;Neal revealed that he declined offers from Wheaties twice, stating, &#8220;Frosted&nbsp;Flakes will always be my&nbsp;first option if you wanna&nbsp;talk cereal business with me.&#8221;
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"I heard Bezos say one time when he was talking, he makes his investment based on if it's going to change people's lives. And once I started doing that strategy whistles, I think I probably quadrupled what I'm worth now," O'Neal said.
Looking forward, O&#8217;Neal has ambitious plans that include becoming a sheriff, attending law school, opening his own law firm, and establishing a K-12 children&#8217;s school.
"My skill is if something comes across my desk and I don't believe in it, I won't even look at it. At all. It's just, one, I can't lie to the people, and two, yeah, it's a gut feeling," he added. 
Why It Matters: O&#8217;Neal&#8217;s investment strategy, inspired by Bezos, highlights the importance of investing in ventures that have the potential to change people&#8217;s lives. 
His diverse portfolio, including fast food, fitness, and cruise lines, demonstrates the value of diversification in investment. His success serves as a testament to the potential of strategic and thoughtful investment decisions. 
Furthermore, his future plans indicate a commitment to public service and education, reflecting a broader vision beyond just financial success.
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Image: Shutterstock

Take Investment Advice From Shaq — His Fortune Grew Thanks To Charles Barkley and Donuts

<ul>
<li>With pharmaceutical tariffs expected to be announced in the next 30 to 60 days, experts are warning they could negatively impact the "pretty fragile supply" of generic drugs</li>
<li>The financial consequences of the levies on countries like China and India, which make many of the ingredients necessary for the drugs, may be so dire that the companies stop doing business with the U.S. entirely</li>
<li>This could have massive consequences, as 90% of medications prescribed in the U.S. are generic</li>
</ul>
When President Donald Trump announced his first round of tariffs on April 2, pharmaceuticals were exempted. But at an April 8 dinner of the National Republican Congressional Committee, he told attendees that "major" pharmaceutical tariffs would be announced "very shortly." Now, experts are warning that the imposition of those levies could lead to major shortages and price increases for generic drugs.
According to <a href="https://www.cnn.com/2025/04/16/business/tariffs-impact-generic-drugs-access/index.html?utm_source=business_ribbon">CNN</a>, generic drug companies are already struggling to deal with increasing competition and tight profit margins. Adding hefty levies on top of those existing issues could leave these companies in a position where they'd be unable to recoup the additional expenses, and therefore unable to do business in the U.S.&nbsp;&nbsp;
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"A resilient and reliable generic medicines supply chain is critical to patient health, U.S. healthcare and national security interests. Tariffs, however, will only amplify the problems that already exist in the U.S. market for affordable medicines. Without substantive regulatory and reimbursement changes to the U.S. market, tariffs will exacerbate current shortages that hinder patient access today, John Murphy III, CEO of the Association for Accessible Medicines, said in a <a href="https://accessiblemeds.org/resources/press-releases/aam-comments-on-section-232-investigation-on-pharmaceuticals/">statement</a>.&nbsp;&nbsp;
There are currently over 250 drug shortages in the U.S., down from the all-time high of 323 in early 2024. According to t<a href="https://www.ashp.org/drug-shortages/shortage-resources/drug-shortages-statistics?loginreturnUrl=SSOCheckOnly">he American Society of Health-System Pharmacists</a>, shortages of antibiotics are a particular problem.&nbsp;
And it's poised to get worse. Rena Conti, an associate professor at Boston University, told CNN that there's already "a pretty fragile supply" of generic drugs in general, as nearly 40% of generic medications have just one or two companies making their ingredients. If these factories are hit by tariffs or forced to shut down by rising prices, we could see a huge drop in supply and/or a huge spike in prices.
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For the American consumer, that's bad news. Generic drugs make up about 90% of the medications prescribed in this country. "The pain will ultimately be borne by the consumer, by the patient," Arthur Wong, managing director for US health care practice at S&amp;P Global, told CNN.
These warnings have fallen on deaf ears among the Trump administration. Earlier this month, officials began an investigation into pharmaceutical imports, hoping to set the stage for future tariffs established on national security grounds. The probe must be completed within 270 days, though results may be expected earlier.&nbsp;
Trump told reporters on April 13 that the investigation and resulting tariffs were necessary safeguards. "We're going to have our drugs made in the United States, so that in case of war, in case of whatever, we're not relying on China and various other countries, which is not a good idea," he said.&nbsp;&nbsp;
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But experts aren't convinced that things will play out the way the Trump administration hopes. Evan Seigerman, a pharmaceuticals analyst with BMO Capital Markets, told CNN, "Given the complexity of the Pharma supply chain, we do not expect the industry to make any major changes."&nbsp;
Kathleen Jaeger, US spokesperson for the Indian Pharmaceutical Alliance, agreed with Seigerman, saying, "If large tariffs are imposed, they will trigger substantially more drug shortages, cause greater US dependence on China for life-saving medications, and delay Indian companies' investments in America." India is a major global supplier of generic drugs, and the US, in particular, is heavily reliant on the country to meet demand.&nbsp;
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Experts Warn Tariffs Could Negatively Impact 'Pretty Fragile Supply' Of Generic Drugs

CNBC&#8217;s Jim Cramer is preparing investors for another action-packed week on Wall Street, packed with earnings reports from major <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">tech players and key economic updates</a>.
On Friday, Cramer emphasized that this week investors should brace for financial updates from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), alongside critical economic indicators, CNBC <a target="_blank" href="https://www.cnbc.com/2025/04/25/cramers-week-ahead-key-economic-data-and-big-tech-earnings.html" rel="noreferrer noopener">reports</a>.
Cramer warned that the uncertainty around tariff policy remains a major market risk.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/25/04/45012801/3-stocks-to-consider-in-this-outperforming-sector" rel="noreferrer noopener">3 Stocks To Consider In This Outperforming Sector</a>
Without meaningful progress on trade deals, he cautioned that Wall Street might struggle to absorb disappointing earnings, despite the recent market rally.
He described the coming days as &#8220;consequential,&#8221; noting that real trade negotiations must be sorted from political maneuvers to maintain investor confidence. CNBC quotes Cramer, &#8220;We're about to get into the weeds with tariffs.&#8221;
Among industrial names, Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) will post results Monday, with Cramer noting its position at the intersection of tariff discussions and recession concerns.
General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) will report Tuesday, offering potential insight into consumer demand and tariff effects on costs.
Meanwhile, consumer brands Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), and Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) will also share quarterly updates.
Wednesday brings earnings from Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), a stock Cramer watches closely for infrastructure spending clues.
Tech giants Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) will release earnings midweek as well, with advertising trends and AI developments under scrutiny.
On Thursday, attention will turn to Apple and Amazon, with Cramer expecting Apple to pivot towards India and Amazon to highlight its retail and advertising strengths despite tariff pressures.
CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) will post results Thursday, with optimism centered on strong drug sales and insurance performance.
McDonald's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) is also expected to report healthy growth amid a tough consumer environment.
To close out the week, Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) will report Friday, while the Labor Department&#8217;s nonfarm payrolls data could influence Federal Reserve rate-cut expectations, CNBC notes.
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Earnings

Equities

AAPL

AMZN

SBUX

SPOT

Cramer's Warning: Tariff Chaos Could Derail Tech Earnings Frenzy This Week

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has embarked on a major overhaul of its artificial intelligence (AI) and machine learning divisions, shifting elements to different departments within the organization.
Bloomberg's&nbsp;Mark Gurman,&nbsp;in his&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2025-04-27/what-is-happening-with-apple-s-ai-team-siri-and-robotics-shifts-mark-a-breakup?srnd=undefined&amp;sref=TBDibEcD">latest</a>&nbsp;weekly "Power On" shared that Apple&#8217;s AI team, previously unified under the guidance of John Giannandrea, is being fragmented due to subpar performance. Giannandrea, an ex-Google executive, joined Apple in 2018 with the mission to consolidate Apple&#8217;s dispersed AI projects and supervise the evolution of Siri and other AI-centric initiatives.
However, the unified strategy has not met expectations after six years. Apple&#8217;s AI ventures, including Siri, have fallen behind rivals such as&nbsp;Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Alexa and Google Assistant. Apple Intelligence, the company&#8217;s AI product launched last year, has also disappointed, with several features being delayed.
Consequently, Apple is reverting to its former management structure. Siri has been handed over to Vision Pro head&nbsp;Mike Rockwell, who now reports&nbsp;to software chief Craig Federighi. 
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The company&#8217;s covert robotics group has also been shifted from Giannandrea&#8217;s leadership to Apple&#8217;s hardware engineering department, headed by John Ternus.
The restructuring is perceived as a reaction to the AI team&#8217;s failure to deliver products promptly, a luxury Apple can no longer afford. The changes have also sparked rumors that the company is gearing up for Giannandrea&#8217;s potential exit.
Why It Matters:&nbsp;The restructuring of Apple&#8217;s AI team is a significant move, reflecting the company&#8217;s struggle to keep pace with competitors in the AI space. 
The shift in management structure indicates a strategic shift as Apple aims to improve its AI offerings. The performance of Apple&#8217;s AI initiatives, particularly Siri, has been a point of concern, and this restructuring could be a step towards addressing these issues. 
The move also suggests potential changes in Apple&#8217;s leadership, hinting at a possible departure of Giannandrea.
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Image: Shutterstock

Apple's AI Team Undergoes Major Restructuring Amidst Performance Concerns

The Securities and Exchange Commission <a href="https://www.sec.gov/newsroom/press-releases/2025-69">filed charges</a> on Tuesday against Ramil Palafox, accusing him of running a fraudulent investment scheme that collected nearly $198 million from Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and foreign exchange investors and misappropriated more than $57 million for<a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44747802/block-fined-40-million-by-new-york-regulator-over-cash-app-compliance-failures"> his personal benefit.</a>
The Details: According to the SEC's complaint, Palafox operated through his company, PGI Global, which he promoted as a cryptocurrency and foreign exchange trading business. Between January 2020 and October 2021, Palafox offered "membership" packages to investors that promised guaranteed high returns from PGI Global's alleged trading activities.
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The SEC alleges that Palafox diverted over $57 million to finance an extravagant lifestyle, including the purchase of luxury cars, expensive watches and high-end goods. The complaint further states that most of the remaining investor money was used to pay returns and referral bonuses to earlier investors, operating in a Ponzi-like fashion until the scheme collapsed in late 2021.
"Palafox used the guise of innovation to lure investors into lining his pockets with millions of dollars while leaving many victims empty-handed," said Laura D'Allaird, Chief of the Commission's Cyber and Emerging Technologies Unit.&nbsp;
"In reality, his false claims of crypto industry expertise and a supposed AI-powered auto-trading platform were just masking an international securities fraud," D'Allaird added.&nbsp;
The SEC's complaint, filed in the U.S. District Court for the Eastern District of Virginia, charges Palafox with violating federal securities laws' anti-fraud and registration requirements. The SEC is seeking permanent injunctions, a ban on Palafox's involvement in similar investment programs, the return of ill-gotten gains with interest and civil penalties.
In a related criminal case, Palafox has been arraigned on charges brought by the U.S. Attorney's Office for the Eastern District of Virginia.
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Photo: Shutterstock

Legal

Financial Crime Weekly: Man Charged With Operating $198 Million Crypto Ponzi Scheme

<ul>
<li>A federal judge ruled Google's online advertising business an illegal monopoly on April 17</li>
<li>The verdict is the second time the courts have found the company guilty of breaking antitrust laws in the last year</li>
<li>Google plans to appeal the ruling, arguing that the court is basing its arguments on frameworks that are no longer relevant</li>
</ul>
Google's ad services are an illegal monopoly, according to a ruling issued by U.S. District Judge Leonie Brinkema. The decision, which was handed down April 17, is the second antitrust ruling against the company in the last year. In her opinion, the judge ruled that the company's ad business, which matches website publishers with advertisers and determines which banner ads appear on which sites across the web, has violated antitrust law.
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"For over a decade, Google has tied its publisher ad server and ad exchange together through contractual policies and technological integration, which enabled the company to establish and protect its monopoly power in these two markets," Brinkema wrote in her <a href="https://ag.ny.gov/sites/default/files/court-filings/united-states-of-america-et-al-v-google-llc-memorandum-opinion-2025.pdf">115-page ruling</a>.&nbsp; Continuing, "Google further entrenched its monopoly power by imposing anti-competitive policies on its customers and eliminating desirable product features."
According to the <a href="https://apnews.com/article/google-illegal-monopoly-advertising-search-a1e4446c4870903ed05c03a2a03b581e">Associated Press</a>, the construction of the monopolizing ad system began back in 2008, when Google bought online ad specialist DoubleClick for $3.2 billion. At the time, U.S. regulators approved the purchase. Now, they've realized that move enabled the company to manipulate ad prices.
The Justice Department argued that Google controls all three corners of the digital ad market— one side that allows website publishers to sell ad space on their websites, the other is the technology that advertisers use to get their ads in front of viewers, and the third is the ad exchanges that conduct automated auctions that connect buyers and sellers.
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Google has said it plans to appeal the ruling. "Publishers have many options and they choose Google because our ad tech tools are simple, affordable and effective," Lee-Anne Mulholand, the company's vice president of regulatory affairs, the media reports.
According to the AP, the company's lawyers argued that the government is basing its case on antiquated concepts that were relevant a decade ago, but are no longer a good framework for understanding the highly competitive market for advertising that exists currently.&nbsp;&nbsp;
The decision marks the Justice Department's second victory over the tech giant in a year. Last August, US District Judge Amit Mehta, ruled that Google held an illegal monopoly on search. In that <a href="https://www.pacermonitor.com/view/VZTUTSQ/UNITED_STATES_OF_AMERICA_et_al_v_GOOGLE_LLC__dcdce-20-03010__1033.0.pdf?mcid=tGE3TEOA">ruling</a>, the judge said that the company's exclusive contracts, which secured them the spot as the No. 1 search engine on smartphones and web browsers, violated the Sherman Antitrust Act. <a href="https://www.cnn.com/2023/12/11/tech/google-app-store-epic-games/index.html">And back in 2023</a>, a federal jury found the Google app store to be an illegal monopoly.
The cases are expected to play out over the next several years as Google appeals the decisions.&nbsp;
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Google Declared An Illegal Monopoly For The Second Time In A Year, Digital Ad Network Under Fire

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares have experienced a 20% surge after CEO Elon Musk said he is stepping back from DOGE.
What Happened: Musk, who had been collaborating with the Trump administration for the past quarter, declared his intention to devote more time to Tesla during the company&#8217;s Q1 earnings call. This announcement served as a trigger for the stock&#8217;s rally, alleviating shareholders&#8217; concerns about Musk&#8217;s divided attention.
By the end of the week, Tesla&#8217;s stock price had climbed to $286.85 per share, marking a 20% increase&nbsp;from Tuesday&#8217;s closing price of&nbsp;$237.97. Analysts are optimistic that this could indicate the beginning of a prolonged recovery for the electric vehicle giant.
Musk&#8217;s association with&nbsp;the Department of Government Efficiency,&nbsp;which involved initiating federal layoffs, had raised concerns about potential harm to Tesla&#8217;s brand. The first quarter of the year witnessed an uptick in Tesla boycotts and protests, coupled with weak sales and delivery data both domestically and internationally.
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&#8220;It&#8217;s going to be viewed&nbsp;historically as probably the most&nbsp;important conference call Musk has&nbsp;ever had,&#8221; stated Dan Ives, an analyst at Wedbush Securities, during an <a href="https://www.youtube.com/watch?v=x4AifoMbd0U">interview</a>. Ives, a staunch Tesla advocate, had previously criticized Musk&#8217;s political aspirations.
On Friday, the&nbsp;US Department of Transportation announced&nbsp;relaxed rules on autonomous vehicles, providing an additional boost to Tesla&#8217;s stock. 
The modifications, designed to maintain the competitiveness of American firms against escalating Chinese rivalry, exempt&nbsp;self-driving cars used for testing&nbsp;from certain safety procedures.
Why It Matters
Musk&#8217;s return to Tesla and his decision to shift focus from his political pursuits have evidently restored investor confidence, as reflected in the recent surge in Tesla&#8217;s stock price. 
The relaxation of rules on autonomous vehicles by the US Department of Transportation further bolsters Tesla&#8217;s position in the market, potentially paving the way for increased testing and development of self-driving cars.
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Image: Shutterstock/Joshua Sukoff

Tesla Stock Skyrockets 20% Following Elon Musk's Return and Shift From DOGE

Experts are predicting that President Donald Trump&#8216;s trade policy could lead to significant supply chain disruptions, resulting in increased product prices and potential shortages in the coming weeks.
What Happened: Supply chain researchers, shipping&nbsp;insiders, and logistics specialists have forecasted major disruptions in product availability and pricing due to Trump&#8217;s tariffs. If the current approach continues, the consequences could intensify,&nbsp;leading to higher domestic unemployment&nbsp;rates, global market instability, and&nbsp;heightened geopolitical tensions by year-end.
Since the inception of Trump&#8217;s broad tariffs, ocean freight shipment bookings have seen a significant drop. Despite a 90-day halt on increased tariffs on goods from numerous countries, a&nbsp;10% baseline tariff on all&nbsp;countries and a&nbsp;145% tariff on imported Chinese&nbsp;goods are still in effect, reports <a href="https://www.businessinsider.com/trump-tariffs-increase-prices-empty-shelves-timeline-supply-chain-holidays-2025-4">The</a> Insider. 
Vizion, a digital logistics firm, has reported a steep global drop of nearly 50% in ocean freight container bookings after Trump&#8217;s initial tariff announcement in early April. This trend has persisted in the following weeks, resulting in what Vizion refers to as a &#8220;tariff shockwave&#8221;.
Bob Ferrari, a supply chain&nbsp;executive and managing director of&nbsp;the Ferrari Consulting and Research&nbsp;Group, expressed his concerns, stating, &#8220;This is a big deal. It&nbsp;has a lot of ramifications&nbsp;because it&#8217;s something that the&nbsp;system is not equipped to&nbsp;deal with, and businesses are&nbsp;not equipped to deal with.&nbsp;It has a lot of&nbsp;far-reaching implications.&#8221;
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With the current tariffs against China standing&nbsp;at 145%, many companies have&nbsp;put a halt to their new stock shipments and are waiting for the next changes before placing large orders. 
Chris Tang, a global supply chain management expert and professor at the&nbsp;University of California, Los Angeles, said,&nbsp;&#8220;Right now, they&#8217;re canceling orders,&nbsp;so the inventory will be&nbsp;running low.&#8221;
Ryan Petersen, the founder and&nbsp;CEO of Flexport, suggested that if Trump manages to reduce the tariffs soon, the impact on consumers could be minimal. However, he warned,&nbsp;&#8220;But if there&#8217;s no deal,&nbsp;then yes, there will be&nbsp;big shortages. Probably&nbsp;worse than anything we&#8217;ve seen&nbsp;in our lifetimes.&#8221;
Why It Matters: The potential disruptions in the supply chain due to Trump&#8217;s aggressive trade policy could have far-reaching implications, affecting not just the businesses, but also consumers. 
The uncertainty surrounding the tariffs has led to a decline in shipment bookings and could result in product shortages if not addressed in a timely manner. 
The situation underscores the importance of stable trade relations and policies in maintaining a healthy global economy.
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Image: Shutterstock/Ceri Breeze

Market Summary

Experts Say New Tariffs Could Spark Higher Prices and Shortages Within Weeks

Cluely, a provocative <a href="https://www.benzinga.com/25/04/44927300/this-nvidia-backed-ai-upstart-boasts-extremely-rapid-revenue-growth-analyst-initiates-overweight">AI startup</a> born from academic controversy, just closed a $5.3 million seed round led by Abstract Ventures and Susa Ventures.
According to<a href="https://futurism.com/columbia-student-ai-cheating-startup"> Futurism</a>, the company's core product is a real-time, invisible <a href="https://www.benzinga.com/news/25/03/44450807/zuckerberg-says-2025-will-be-the-year-an-ai-assistant-hits-1-billion-users-and-he-wants-it-to-be-meta-ai">AI assistant</a> that operates through a hidden browser overlay, giving users live answers during interviews, coding tests, exams, and even meetings.
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<h2 class="wp-block-heading">Ivy League Fallout Sparks a $5.3M AI Startup</h2>
The founders, Chungin "Roy" Lee and Neel Shanmugam dropped out of Columbia University after being suspended for creating the early version of the tool, known then as Interview Coder. That tool, built to help candidates navigate technical interviews on platforms like LeetCode, quickly went viral and caught the attention of Columbia's disciplinary board.
Within weeks of their suspension, the co-founders rebranded the product and announced the funding round on<a href="https://www.linkedin.com/posts/roy-lee-goat_i-got-kicked-out-of-columbia-for-building-activity-7319827343730974720-f4ew/?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAADHUUIEBu9ykWEQA6ZCNi-WBJ4dxkaU6GpY"> LinkedIn</a>. Their AI, marketed as "completely undetectable," sees the screen, hears the audio, and feeds the user context-specific responses in real time.
In an interview with the New York Times' "Hard Fork&#8221;<a href="https://www.nytimes.com/2025/03/21/podcasts/hardfork-ai-action-plans.html?showTranscript=1"> podcast</a>, co-founder Lee stated, &#8220;I read the student handbook quite thoroughly before I actually started building this thing [&#8230;] but I didn't actually expect to get expelled at all. And the student handbook very explicitly doesn't mention anything about academic resources.&#8221;
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<h2 class="wp-block-heading">Growth and Backlash in Equal Measure</h2>
The $5.3 million funding round, completed in just a few weeks following Cluely's rebrand, is being seen as a sign of growing investor appetite for new forms of human-AI collaboration, particularly in areas where performance pressure and assessment bias remain high.
Since launching its current version, Cluely has reported more than $3 million in annual recurring revenue. While critics have raised ethical questions about the software, supporters argue that it highlights inefficiencies in existing gatekeeping systems, particularly the widespread reliance on memorization-heavy assessments like LeetCode in technical hiring processes, writes<a href="https://www.businesstoday.in/amp/technology/news/story/ai-startup-cluely-raises-53-million-to-let-users-cheat-on-everything-even-job-interviews-and-exams-472946-2025-04-22"> Business Today</a>.
A recent promotional video shared by the founder on<a href="https://x.com/im_roy_lee/status/1914061483149001132"> X</a> showed Lee using the software during a date to fabricate knowledge and facts in real-time, sparking debate across social media. While some saw the demonstration as a humorous take on modern dating and digital dependence, others likened it to scenarios featured in dystopian fiction such as Black Mirror. Some developers have already attempted to counteract Cluely's software, with one Reddit user<a href="https://www.reddit.com/r/webdev/comments/1k4hlvw/i_built_a_poc_cluely_detection_tool_in_less_than/"> claiming</a> to have created a Swift-based tool that detects the platform when it is running.
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<h2 class="wp-block-heading">Future Outlook and Industry Impact</h2>
Despite the public controversy, the startup continues to gain traction across industries. Early adopters include tech workers preparing for job interviews, sales professionals seeking support during live calls, and students managing online exam environments. According to<a href="https://fortune.com/article/cluely-ai-cheating-columbia-student-seed-funding/"> Fortune</a>, Cluely offers unlimited access to its AI tool through a subscription model priced at $20 per month or $100 annually.
With funding, momentum building, institutional support from respected venture firms, and rapidly growing user demand, Cluely is signaling a broader shift in the conversation around AI, merit, and human augmentation. Whether the world sees that as a threat or an evolution remains to be seen.
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An influential cryptocurrency analyst flagged Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) next resistance level and a potential bearish signal amid the apex cryptocurrency&#8217;s resurgence this week.
What Happened: Ali Martinez, known for his technical and on-chain analysis of top cryptocurrencies, cautioned Saturday that Bitcoin could face &#8220;heavy&#8221; resistance between $94,125 and $99,150, potentially halting its upside. He called it a &#8220;critical zone&#8221; where 2.61 million wallets have accumulated 1.76 million BTC.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> faces heavy resistance between $94,125 and $99,150, where 2.61 million wallets accumulated 1.76 million BTC. A critical zone to watch! <a href="https://t.co/FJoojPs4P4">pic.twitter.com/FJoojPs4P4</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1916132658423201855?ref_src=twsrc%5Etfw">April 26, 2025</a></blockquote>
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Martinez also identified bearish signs from some key technical indicators. He noticed a bearish divergence against the Relative Strength Index on BTC&#8217;s 4-hour chart, as well as &#8220;multiple&#8221; sell signals from the TD Sequential indicator.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is showing bearish divergence against the RSI on the 4-hour chart, with the TD Sequential flashing multiple sell signals. Caution is warranted! <a href="https://t.co/EdwgsIFiT2">pic.twitter.com/EdwgsIFiT2</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1916098069243834421?ref_src=twsrc%5Etfw">April 26, 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/25/04/44971891/sec-teams-up-with-nayib-bukele-led-el-salvador-for-a-crypto-regulatory-sandbox">SEC Zooms In On Nayib Bukele-Led El Salvador&#8217;s Crypto Regulation Model</a>
Interestingly, exchange netflows were positive in the last 24 hours, as <a href="https://app.intotheblock.com/?timeRange=24h">indicated </a>by IntoTheBlock, implying that more BTCs were being accumulated than deposited.
Why It Matters: These forecasts come amid Bitcoin&#8217;s sharp recovery this week,&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/04/44969947/bitcoin-ethereum-rise-dogecoin-falls-as-trump-reverses-course-on-china-tariffs-analyst-says-btc-setup-bullish-but-its-like-walking-on-thin-ice" target="_blank" rel="noreferrer noopener">pushing through the $94,000</a>&nbsp;mark for the first time since early March.
The rebound has spurred a wave of bullish predictions, with leading multinational bank Standard Chartered <a href="https://www.benzinga.com/personal-finance/25/04/45014801/heres-why-bitcoin-has-decoupled-from-stocks-according-to-standard-chartered">reiterating</a> a $200,000 year-end price target and a $500,000 target for 2028 for the asset.
Moreover, in its Big Ideas 2025 report, Cathie Wood-led asset management firm Ark Invest <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45003759/arks-bitcoin-bear-case-is-300000-by-2030-whats-the-bull-case">upgraded</a>&nbsp;its bear, base, and bull cases&nbsp;for Bitcoin&#8217;s price in 2030 at approximately $300,000, $710,000, and $1.5 million, respectively.
Price Action: At the time of writing, Bitcoin was exchanging hands at $94,318.49, up 0.65% in the last 24 hours, and 10.88% over the week, 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>.
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