Sphere Entertainment Option Alert: Fri $40 Calls at the Bid: 1100 vs 5118 OI; Earnings 3/4 Before Open [est] 

Sphere Entertainment Option Alert: Fri $40 Calls at the Bid: 1100 @ $7.2 vs 5118 OI; Earnings 3/4 Before Open [est] Ref=$47.12

Sphere Entertainment 株価情報 (NYSE: SPHR)

Sphere Entertainment (NYSE:SPHR) 株価情報

Sphere Entertainment

Sphere Entertainment Co is a live entertainment and media company. The firm creates, writes, casts, produces, and tours shows and events. The group has two reportable segments which includeSphere and MSG Networks. Sphere is a next-generation entertainment medium, and MSG Networks operates two regional sports and entertainment networks, as well as a direct-to-consumer (DTC) and authenticated streaming product.

Sphere Entertainment Co. Class A Common Stock

Sphere Entertainment Co

STARPHARMA HOLDINGS LTD by Starpharma Holdings Ltd.

Starpharma Holdings Ltd

STARPHARMA HLDGS S/ADR by Starpharma Holdings Ltd.

President Donald Trump&#8216;s intensifying trade war with China is stirring up dissatisfaction among young Americans.
What Happened: Trump&#8217;s tariffs on Chinese goods are causing disruptions for young Americans who depend on affordable Chinese products and services. These tariffs have resulted in a 145% surge in the price of many imported goods, impacting everything from fast fashion to tech gadgets.
As per the report <a href="https://www.bloomberg.com/news/articles/2025-05-03/young-americans-sours-on-trump-s-china-tariffs-despite-election-year-bump?srnd=homepage-americas&amp;sref=TBDibEcD">by</a> Bloomberg, the escalating trade war is triggering a negative response among young voters, who were instrumental in Trump&#8217;s election success. 
A recent <a href="https://d3nkl3psvxxpe9.cloudfront.net/documents/econTabReport_pXJ0PxA.pdf">poll</a> by YouGov/Economist indicates that 57% of Americans aged 18 to 29 disapprove of Trump&#8217;s job performance, marking a 14-point drop since he assumed office.
The trade dispute could also influence the future of popular social media app TikTok, which was on the verge of securing a deal to continue its operations in the US before the tariffs disrupted the talks.
Also Read: <a href="https://www.benzinga.com/news/earnings/25/05/45184120/warren-buffett-warns-tariffs-could-backfire-on-economy-says-trade-should-not-be-a-weapon-its-a-big-mistake-i-dont-think-its-wise">Warren Buffett Warns Tariffs Could Backfire on Economy, Says, &#8216;Trade Should Not Be A Weapon. It&#8217;s A Big Mistake, I Don&#8217;t Think It&#8217;s Wise&#8217;</a>
Young consumers like Chelsea Hollins, a 26-year-old content creator and college student, are voicing their discontent. &#8220;Everybody is mad,&#8221; Hollins stated. &#8220;That&#8217;s all that I see on my timeline.&#8221;
Despite the mounting criticism, the White House still has the option to backtrack on its tariffs. However, the tariffs imposed on China could have enduring political implications for the GOP in the upcoming congressional midterms.
Why It Matters: The escalating trade war with China and the resulting tariffs are not only impacting the economy but also the political landscape. The dissatisfaction among young Americans, who played a pivotal role in Trump&#8217;s election, could potentially influence future elections. 
The tariffs&#8217; impact on popular services like TikTok further highlights the wide-reaching consequences of this trade dispute. 
The White House&#8217;s decision on whether to continue or reverse these tariffs could have significant implications for the GOP in the forthcoming congressional midterms.
Read Next
<a href="https://www.benzinga.com/general/market-summary/25/04/45029647/experts-say-new-tariffs-could-spark-higher-prices-and-shortages-within-weeks">Experts Say New Tariffs Could Spark Higher Prices and Shortages Within Weeks</a>

News

Politics

Markets

Young Americans Express Discontent Over Trump's China Tariffs

Elon Musk&#8216;s first wife Justine Wilson recently shed light on the complexities of their marriage and the challenges she faced <a href="https://www.benzinga.com/general/entertainment/24/07/39657381/elon-musks-mother-recounts-time-her-children-used-to-ask-for-food-she-couldnt-afford-after-">being married to the CEO of Tesla Inc.</a>
What Happened: In a recent interview, Wilson gave an insight into her life with Musk, to whom she was married from 2000 to 2008. The pair, who first crossed paths&nbsp;at Queen&#8217;s University in Ontario,&nbsp;Canada, share six children.
Wilson highlighted the pressure she felt as Musk&#8217;s business pursuits expanded, leading her to feel like a &#8220;trophy wife,&#8221; compelled to fit into a certain Hollywood stereotype. 
She also brought up a car accident that marked a significant shift in their relationship, expressing her apprehension of Musk&#8217;s reaction over their safety, <a href="https://www.indy100.com/politics/elon-musk-justine-wilson-trophy-wife-interview-2671642611#">reports</a> Indy100.
After their divorce, Musk started seeing British actor Talulah Riley, who he married in 2010 and divorced two years later. They got remarried in 2013 but divorced again in 2016. 
Also Read:&nbsp;<a href="https://www.benzinga.com/general/social-media/25/03/44209885/elon-musks-ex-wife-spills-the-truth-about-what-it-really-takes-to-be-a-billionaire-there-is-no-roadmap-no-blueprint-for-this" target="_blank" rel="noreferrer noopener">Elon Musk's Ex-Wife Spills The Truth About What It Really Takes To Be A Billionaire: ‘There Is No Roadmap, No Blueprint For This'</a>
The revelations by Wilson provide a rare glimpse into the personal life of one of the world&#8217;s most influential tech moguls. Musk&#8217;s personal life has often been under scrutiny due to his high-profile relationships and his outspoken nature. 
The insights shared by Wilson add another layer to the public&#8217;s understanding of the Tesla CEO.
Read Next
<a href="https://www.benzinga.com/news/25/04/45029504/elon-musks-ex-wives-missed-out-on-his-billion-dollar-wealth-heres-why">Elon Musk&#8217;s Ex-Wives Missed Out on His Billion-Dollar Wealth — Here&#8217;s Why</a>
Image: Shutterstock

Entertainment

TSLA

Musk's Ex-Wife Opens Up About Why Life With Elon Was So Difficult

Barstool Sports founder Dave Portnoy isn't buying President Donald Trump's latest attempt to pin a shaky stock market and economic slowdown on former President Joe Biden.
After Trump claimed in a Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/114427089568235019">post</a> that the current stock market dip is still &#8220;Biden's Stock Market,&#8221; Portnoy fired back. &#8220;What's that old expression? Don't piss down my back and tell me it's raining? Well that applies here,&#8221; he wrote on <a href="https://x.com/stoolpresidente/status/1917607515270901952">X</a> on Wednesday.&nbsp;
&#8220;The stock market is a direct reflection of Trump's first 100 days in office. Doesn't mean it won't get better and that we don't need to be patient, but this is his market not Biden's.&#8221;
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<h2 class="wp-block-heading">Trump Keeps Pointing at Biden</h2>
Following a <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/45100047/recession-odds-spike-wall-street-tumbles-as-q1-gdp-surprisingly-contracts-be-patient-trump-responds">0.3% drop in U.S. GDP</a> for Q1 2025—the first contraction in three years—Trump <a href="https://www.benzinga.com/markets/25/04/45124644/trump-blames-gdp-contraction-on-biden-overhang-nothing-to-do-with-the-tariffs">blamed the results on Biden</a>. &#8220;This is Biden,&#8221; he <a href="https://youtu.be/1QBwJsxN0OQ?si=-u2bcue3Y_rDKqcU&amp;t=6474">said</a> on Wednesday at a Cabinet meeting, adding that even Q2 results should partly fall on his predecessor because &#8220;it doesn't just happen on a daily or an hourly basis.&#8221;
In the same Truth Social post, Trump argued that the U.S. economy was still weighed down by the &#8220;Biden overhang&#8221; and that his own policies, especially tariffs, would soon spark a boom. &#8220;Companies are starting to move into the USA in record numbers,&#8221; he posted. &#8220;Our country will boom, but we have to get rid of the Biden ‘Overhang.' This will take a while, has NOTHING TO DO WITH TARIFFS.&#8221;
But economists say otherwise. The Commerce Department <a href="https://www.bea.gov/data/gdp/gross-domestic-product">attributed</a> the GDP dip to a surge in imports from companies trying to beat Trump's upcoming tariffs. A drop in government spending also played a role. Market analysts note that Trump's policies are already affecting economic behavior.
Trending: Donald Trump just announced a $500 billion AI infrastructure deal — <a href="https://www.benzinga.com/money/seize-a-share-while-you-still-can-in-the-2-trillion-entertainment-market-with-elf-labs-at-just-2-25-share">here's how you can invest in the entertainment market's next big disruptor at $2.25 per share</a>.
<h2 class="wp-block-heading">Executives Cashed Out, Portnoy Stayed In</h2>
While tech and finance insiders were unloading stocks before the market dropped, Portnoy stuck it out and lost big.
As Benzinga previously <a href="https://www.benzinga.com/news/25/04/45028996/in-response-to-zuckerberg-and-dimon-stock-sell-offs-dave-portnoy-says-he-didnt-unload-anything-got-smoked-like-everybody-else">reported</a>, Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg sold 1.1 million shares for $733 million, Oracle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) CEO Safra Catz sold $705 million in stock, and JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon sold $234 million—all before Trump's tariff announcements sent markets into a nosedive.
Portnoy, on the other hand, <a href="https://x.com/stoolpresidente/status/1914429319499165931">wrote</a> to his X followers mid-April, "I did NOT unload any stock. Got smoked like everybody else." He initially estimated a $7 million hit but later revised it to $20 million, around 15% of his net worth.
See Also: Shark Tank's Kevin O'Leary called Missing Ring his biggest mistake — Don't repeat history—<a href="https://www.benzinga.com/money/big-tech-has-spent-billions-acquiring-ai-smart-home-startups-one-company-stands-to-benefit-and-has-already-made-10-million">invest in RYSE at just $1.90/share.</a>
Still, Portnoy isn't jumping ship. On his livestream, he called Trump &#8220;a smart guy&#8221; and said he's going to see how the tariff game plays out.
&#8220;I'm going to roll with him and see how it plays out,&#8221; he said.
<h2 class="wp-block-heading">From Credit to Blame</h2>
Trump is now trying to distance himself from weak economic data, but just last year, he was eager to take credit for market gains under Biden. On Jan. 29, 2024, while still a presidential candidate, Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/111840568643216314">posted</a> on Truth Social in all caps: "THIS IS THE TRUMP STOCK MARKET BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN."
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.30/share!</a></li>
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Image: Shutterstock

ORCL

'Don't Piss Down My Back And Tell Me It's Raining,' Says Dave Portnoy—'This Is Trump's Market, Not Biden's'

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Pony AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) shares were up 48.36% after the company reportedly said it is getting closer to profitability and can build its <a href="https://www.benzinga.com//node/45049945" target="_blank" rel="noreferrer noopener">autonomous driving system for less</a>.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) stock rocketed 45.32% after the company announced a collaboration with Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) to offer a bundled package of all dose <a href="https://www.benzinga.com//node/45074872" target="_blank" rel="noreferrer noopener">strengths of Wegovy on its platform</a>. B of A Securities analyst raised the price <a href="https://www.benzinga.com/quote/hims/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast from $22 to $26</a>.</li>
<li>ODDITY Tech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODD#NASDAQ">ODD</a>) shares surged 42.96% after the company reported better-than-expected first-quarter financial results, raised its FY25 guidance, and issued <a href="https://www.benzinga.com//node/45111584" target="_blank" rel="noreferrer noopener">second-quarter guidance above estimates</a>. Analysts raised price <a href="https://www.benzinga.com/quote/ODD/analyst-ratings" target="_blank" rel="noreferrer noopener">forecasts on the stock</a>.</li>
<li>Metsera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSR#NASDAQ">MTSR</a>) stock escalated by 38.42% last week.</li>
<li>CG Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGON#NASDAQ">CGON</a>) stock increased 29.86% after the company announced that cretostimogene grenadenorepvec monotherapy data was presented at the American <a href="https://www.benzinga.com//node/45043205" target="_blank" rel="noreferrer noopener">Urological Association Annual Meeting</a>. Some analysts initiated coverage/ <a href="https://www.benzinga.com/quote/cgon/analyst-ratings" target="_blank" rel="noreferrer noopener">boosted the price forecast</a>.</li>
<li>Kiniksa Pharmaceuticals, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) shares upped 29.42% after raising <a href="https://www.benzinga.com//node/45063476" target="_blank" rel="noreferrer noopener">its FY25 sales guidance</a>.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) stock rose 27.34%.</li>
<li>Frontdoor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTDR#NASDAQ">FTDR</a>) shares were up 25.44% last week after the company reported better-than-expected first-quarter financial results and raised its FY25 <a href="https://www.benzinga.com//node/45130988" target="_blank" rel="noreferrer noopener">sales outlook</a>.</li>
<li>ATI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATI#NYSE">ATI</a>) stock increased 25.39% after it reported better-than-expected quarterly financial results and raised its <a href="https://www.benzinga.com//node/45130989" target="_blank" rel="noreferrer noopener">FY25 adjusted EPS guidance</a>.</li>
<li>Perdoceo Education Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRDO#NASDAQ">PRDO</a>) stock rose 23.72% after it <a href="https://www.benzinga.com//node/45149554" target="_blank" rel="noreferrer noopener">reported first-quarter results</a>.</li>
<li>iRhythm Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) stock jumped 23.71% after it reported better-than-expected first-quarter results and <a href="https://www.benzinga.com//node/45149802" target="_blank" rel="noreferrer noopener">raised its FY25 sales guidance</a>.</li>
</ol>
Photo by Tada Images via Shutterstock

Equities

Mid Cap

Movers

CGON

FTDR

Hims & Hers Health, Inc. Class A Common Stock

HIMS

IRTC

KNSA

MTSR

PONY

PRDO

Pony AI, Hims & Hers And Frontdoor Are Among Top 11 Mid-Cap Gainers Last Week (Apr 28-May 2): Are The Others In Your Portfolio?

&#8220;You cannot just assume that more data and more compute means smarter AI,&#8221; said Yann LeCun, Meta's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) chief AI scientist, during a keynote on April 28 at the National University of Singapore.&nbsp;
LeCun pushed back on what he described as the "religion of scaling," arguing that AI progress will stall unless systems are taught to understand the physical world — not just crunch more data.
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<h2 class="wp-block-heading">Why Bigger Isn't Always Smarter</h2>
LeCun's criticism challenges the current industry belief that scaling — boosting the number of parameters, the size of the dataset, and the compute— is the surest path to better AI.&nbsp;
"The mistake is that very simple systems, when they work for simple problems, people extrapolate them to think that they&#8217;ll work for complex problems," he said. Meta has historically leaned into scaling, but LeCun believes smarter AI won't emerge from brute force alone.
The idea that "model performance depends most strongly on scale," as outlined in the <a href="https://arxiv.org/abs/2001.08361">2020 paper</a> &#8220;Scaling Laws for Neural Language Models&#8221; by researchers at OpenAI and DeepMind, has guided substantial investments into scaling up model architectures and training data.
Trending: Donald Trump just announced a $500 billion AI infrastructure deal — <a href="https://www.benzinga.com/money/seize-a-share-while-you-still-can-in-the-2-trillion-entertainment-market-with-elf-labs-at-just-2-25-share">here's how you can invest in the entertainment market's next big disruptor at $2.25 per share</a>.
<h2 class="wp-block-heading">LeCun Says Today's AI Struggles With Ambiguity</h2>
LeCun argued that recent breakthroughs appear impressive only because the tasks were relatively easy.&nbsp;
"When you deal with real-world problems with ambiguity and uncertainty, it's not just about scaling anymore," he said at an event in Singapore. He compared modern large language models to a child&#8217;s brain: they're trained on roughly the amount of information stored in the visual cortex of a four-year-old.
As LeCun put it on a <a href="https://www.youtube.com/watch?v=SGSOCuByo24&amp;ab_channel=LexFridman">"Lex Fridman"</a> podcast in 2019, the key difference is that "world models" can predict how the environment evolves based on an action — a critical step toward actual reasoning.&nbsp;
"The extra component of a world model is something that can predict how the world is going to evolve as a consequence of an action you might take," he said.
See Also: Shark Tank's Kevin O'Leary called Missing Ring his biggest mistake — Don't repeat history—<a href="https://www.benzinga.com/money/big-tech-has-spent-billions-acquiring-ai-smart-home-startups-one-company-stands-to-benefit-and-has-already-made-10-million">invest in RYSE at just $1.90/share.</a>
<h2 class="wp-block-heading">Industry Leaders Are Starting to Shift</h2>
LeCun isn't the only prominent AI voice rethinking scale. During the <a href="https://www.google.com/search?q=Alexandr+Wang+on+the+Cerebral+Valley+AI+Summit&amp;oq=Alex&amp;gs_lcrp=EgZjaHJvbWUqCAgBEEUYJxg7MgYIABBFGDkyCAgBEEUYJxg7MgcIAhAuGIAEMgoIAxAuGLEDGIAEMgoIBBAAGLEDGIAEMhAIBRAuGIMBGNQCGLEDGIAEMhAIBhAuGIMBGNQCGLEDGIAEMgYIBxBFGD3SAQg1OTg4ajBqN6gCALACAA&amp;sourceid=chrome&amp;ie=UTF-8#fpstate=ive&amp;vld=cid:8bde0f29,vid:HM7wnQwpJ0w,st:0">Cerebral Valley AI Summit</a> in November, Alexandr Wang, CEO of Scale AI, called scaling "the biggest question in the industry." Meanwhile, Aidan Gomez, CEO of Cohere, labeled it "the dumbest" way to improve AI models in a February TechCrunch Disrupt session.
There's also a data ceiling problem. According to an Epoch AI<a href="https://epoch.ai/blog/will-we-run-out-of-data-limits-of-llm-scaling-based-on-human-generated-data"> study</a>, most high-quality public data has already been used to train existing large models, meaning returns from future scaling may diminish.
<h2 class="wp-block-heading">Understanding The World Is The Next Big Leap</h2>
LeCun's alternative? Teach machines like humans — with physical intuition, common sense, and an ability to learn new tasks quickly.&nbsp;
"We need AI systems that can learn new tasks really quickly," he said last week. "They need to understand the physical world — not just text and language but the real world — have some level of common sense, and abilities to reason and plan, have persistent memory."
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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>
Image: Shutterstock

Meta Chief AI Scientist Yann LeCun Slams AI Hype: 'Scaling Systems More' Won't Make Them Smarter – 'We Need AI That Understands The World'

The week was abuzz with news from the tech world, with artificial intelligence (AI) taking center stage. From potential policy changes affecting AI chip exports to the impact of AI on workloads and coding, the stories were as diverse as they were intriguing. Here&#8217;s a quick recap of the top stories.
Trump Administration Eyes AI Chip Restrictions
The Trump administration is reportedly contemplating significant changes to the Biden-era restrictions on AI chip exports. The proposed overhaul targets the Framework for Artificial Intelligence Diffusion, a rule issued by the U.S. Commerce Department under former President Joe Biden. The changes could potentially tighten access to&nbsp;NVIDIA&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;H100 chips.&nbsp;<a href="https://www.benzinga.com/25/04/45090935/trump-administration-targets-biden-era-ai-chip-curbs-could-scrap-country-tiers-and-tighten-access-to-nvidias-h100-chips-report">Read the full article here.</a>
Nvidia Designs New AI Chips for Chinese Tech Giants
In response to tightened U.S. export restrictions on its H20 chip,&nbsp;NVIDIA is reportedly developing redesigned AI chips. The company has informed key Chinese customers, including&nbsp;Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance, and Tencent Holdings, of its plans to create new AI chip designs that comply with U.S. export regulations.&nbsp;<a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/markets/25/05/45162929/tim-cook-tells-commerce-secretary-lutnick-how-apple-could-bring-iphone-manufacturing-to-us" target="_blank" rel="noreferrer noopener">Tim Cook Tells Commerce Secretary Lutnick How Apple &#8216;Could&#8217; Bring iPhone Manufacturing To US</a>
AI Tools: A Boon or a Bane for Workers?
A recent study has found that generative AI tools, such as ChatGPT, may not be delivering the productivity benefits they promised. Instead, they could be leading to extra work for some workers. The study examined data from 25,000 Danish workers across professions prone to automation.&nbsp;<a href="https://www.benzinga.com/general/education/25/05/45160023/ai-was-supposed-to-save-time-but-many-workers-are-ending-up-with-more-tasks-study">Read the full article here.</a>
Meta&#8217;s Ambitious Revenue Projections for Generative AI Products
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;has projected that its generative AI products could potentially generate revenue ranging from $460 billion to $1.4 trillion by 2035. This information was revealed in recently unsealed court documents related to the Kadrey v. Meta Platforms Inc. case.&nbsp;<a href="https://www.benzinga.com/markets/25/05/45160454/mark-zuckerbergs-meta-targets-1-4-trillion-revenue-from-generative-ai-by-2035-court-filing-reveals">Read the full article here.</a>
AI&#8217;s Growing Role in Coding at Microsoft
Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;CEO Satya Nadella revealed that AI now writes up to 30% of the tech giant's code. This marks a significant shift in software development, indicating how AI tools are reshaping the way tech companies build their products.&nbsp;<a href="https://www.benzinga.com/tech/25/04/45093643/ai-is-reshaping-coding-at-microsoft-says-nadella-30-of-code-now-ai-generated">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/markets/25/05/45183000/warren-buffetts-right-hand-man-greg-abel-is-quietly-taking-over-day-to-day-leadership-at-berkshire-hathaway-gotten-much-more-involved-in-capital-allocation-decisions" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Right-Hand Man Greg Abel Is Quietly Taking Over Day-To-Day Leadership At Berkshire Hathaway: &#8216;Gotten Much More Involved In Capital Allocation Decisions&#8217; </a>
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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/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

Tech

General

BABA

MSFT

NVDA

Nvidia Reportedly Designs New AI Chips For Chinese Tech Giants, Meta Targets $1.4 Trillion Revenue From Generative AI By 2035 And More: Top AI Updates This Week

<a href="https://www.benzinga.com/news/25/04/44865115/figure-ai-shakes-silicon-valley-with-39-5b-valuation-200000-robots-promised-by-2029-beating-out-spacex-and-openai">Figure AI</a>, the robotics company aiming to build the first commercially viable humanoid worker, <a href="https://www.prnewswire.com/news-releases/figure-raises-675m-at-2-6b-valuation-and-signs-collaboration-agreement-with-openai-302074897.html">recently announced</a> it secured a staggering $675 million in funding from some of the biggest names in tech and venture capital, including <a href="https://www.benzinga.com/news/25/04/44821570/bezos-bets-big-slate-auto-quietly-raises-111m-series-a-to-build-25k-ev-truck-eyes-2026-launch-in-indianapolis">Jeff Bezos</a>, Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), OpenAI, and Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
Now valued at $2.6 billion, the San Jose, California-based startup is in talks with United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) to integrate its <a href="https://www.benzinga.com/tech/25/04/44894239/humanoid-robots-make-history-in-beijing-half-marathon-completes-race-in-under-3-hours">humanoid robots</a> into the global shipping giant's logistics infrastructure, according to<a href="https://www.bloomberg.com/news/articles/2025-04-28/ups-in-talks-with-startup-figure-ai-to-deploy-humanoid-robots"> Bloomberg</a>.
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<h2 class="wp-block-heading">UPS in Talks to Introduce Humanoid Robots to Its Network</h2>
Figure AI was founded in 2022 by serial entrepreneur Brett Adcock, who previously launched Vettery and Archer Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>). Adcock&#8217;s<a href="https://www.brettadcock.com/bio"> bio</a> says that his goal is to create a fully autonomous humanoid robot that can safely, efficiently, and intelligently perform a wide range of physical tasks that are currently repetitive, physically draining, or simply undesirable for human workers.
According to Bloomberg, the company's latest model, Figure 02, features integrated cabling, a torso battery, and real-time computing power using Nvidia RTX GPU-based modules. It's outfitted with 6 RGB cameras, directional microphones, speakers, and a custom-built conversational AI developed in collaboration with OpenAI. Figure 02 also boasts 16 degrees of freedom in its redesigned hands, which allow it to lift and maneuver up to 55 pounds. These capabilities are being actively tested in real-world settings, including on the factory floor at BMW.
Trending: Donald Trump just announced a $500 billion AI infrastructure deal — <a href="https://www.benzinga.com/money/seize-a-share-while-you-still-can-in-the-2-trillion-entertainment-market-with-elf-labs-at-just-2-25-share">here's how you can invest in the entertainment market's next big disruptor at $2.25 per share</a>.
While both UPS and rival FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) have incorporated autonomous systems like sorting and ground robots into their operations, neither has implemented humanoid robots until now.
Bloomberg<a href="https://www.bloomberg.com/news/articles/2024-02-23/bezos-nvidia-join-openai-microsoft-in-funding-humanoid-robot-startup-figure-ai"> reported</a> last year that UPS and Figure AI began discussions in 2023 and resumed them in early 2025 as Figure&#8217;s latest model reached new performance milestones. If an agreement is finalized, UPS will become one of the first global logistics companies to pilot humanoid labor at an industrial scale.
This move comes as UPS is undergoing a significant restructuring in response to declining package volumes, particularly from major clients like Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and economic pressures stemming from international tariffs. According to<a href="https://www.reuters.com/markets/us/ups-reports-fall-first-quarter-revenue-2025-04-29/"> Reuters</a>, UPS plans to cut 20,000 jobs and close 73 facilities by June, aiming to save $3.5 billion through workforce reductions, automation, and asset sales. These measures are part of UPS's strategy to adapt to shifting market dynamics and enhance operational efficiency.
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">CEO Brett Adcock&#8217;s Vision for Robotic Integration</h2>
Adcock believes humanoid robots are the next frontier in workforce transformation. He said in a <a href="https://www.prnewswire.com/news-releases/figure-raises-675m-at-2-6b-valuation-and-signs-collaboration-agreement-with-openai-302074897.html">statement</a> that Figure&#8217;s vision is &#8220;to bring humanoid robots into commercial operations as soon as possible. AI and robotics are the future, and I am grateful to have the support of investors and partners who believe in being at the forefront."
Figure's mission has always been about filling the gap where human labor is in short supply or at risk. The startup<a href="https://www.figure.ai/"> says</a> it is building toward a future where robots can work side-by-side with humans, or even independently, across warehouses, manufacturing floors, and homes.
Figure AI is not alone in the humanoid race since competitors like Optimus, created by Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Agility Robotics' Digit are also vying to dominate this emerging sector. However, with backing from the world's top AI labs, chipmakers, and billionaires, Figure AI is showing that humanoid labor is no longer a sci-fi dream but a near-future solution to real-world industrial problems.
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Image: Shutterstock

ACHR

AMZN

INTC

UPS Explores Humanoid Robots As Figure AI Secures $675M From Jeff Bezos, OpenAI, And Intel, Targeting $9B Revenue By 2029

These large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>) shares tumbled 19.90% after the company reported <a href="https://www.benzinga.com//node/45152696" target="_blank" rel="noreferrer noopener">worse-than-expected financial results</a>. Analysts slashed <a href="https://www.benzinga.com/quote/xyz/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>Lineage, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LINE#NASDAQ">LINE</a>) shares fell 18.93% after reporting worse-than-expected <a href="https://www.benzinga.com//node/45093641" target="_blank" rel="noreferrer noopener">first-quarter sales results</a>. Some analysts lowered the <a href="https://www.benzinga.com/quote/line/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Becton, Dickinson and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) stock dipped 17.70%  after the company cut FY25 EPS guidance despite a hike in sales outlook. The company also missed <a href="https://www.benzinga.com//node/45140102" target="_blank" rel="noreferrer noopener">second-quarter revenue estimates</a>. Analysts cut <a href="https://www.benzinga.com/quote/bdx/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>Coca-Cola (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COKE#NASDAQ">COKE</a>) shares decreased 16.36%  after the company reported a year-over-year decrease in <a href="https://www.benzinga.com//node/45116927" target="_blank" rel="noreferrer noopener">first-quarter financial results</a>.</li>
<li>Westlake Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLK#NYSE">WLK</a>) stock fell 14.50% after the company reported worse-than-expected <a href="https://www.benzinga.com//node/45161312" target="_blank" rel="noreferrer noopener">first-quarter sales results</a>.</li>
<li>Pilgrim&#8217;s Pride Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPC#NASDAQ">PPC</a>) stock dived 13.84% after the company reported worse-than-expected <a href="https://www.benzinga.com//node/45118399" target="_blank" rel="noreferrer noopener">first-quarter financial results</a>.</li>
<li>Ecopetrol S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) shares declined 12.27% probably amid a drop in oil and natural gas prices following a decline in U.S. first-quarter GDP, which could weigh on demand outlook.</li>
<li>Alamos Gold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) shares were down 11.59% after the company reported <a href="https://www.benzinga.com//node/45119634" target="_blank" rel="noreferrer noopener">first-quarter results below estimates</a>. The stock may also be down amid a drop in gold spot price.</li>
<li>YPF Sociedad Anonima (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>) stock fell 9.09%.</li>
<li>Targa Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) stock dived 8.87% after the company reported <a href="https://www.benzinga.com//node/45128247" target="_blank" rel="noreferrer noopener">earnings for the first quarter</a>.</li>
</ol>
Photo via Shutterstock

Large Cap

Trading Ideas

COKE

FSLR

LINE

TRGP

Block, Becton Dickinson And Pilgrim's Pride Are Among Top 10 Large-Cap Losers Last Week (Apr 28-May 2): Are The Others In Your Portfolio?

The weekend was a whirlwind of news, with Elon Musk&#8217;s reactions to Ray Dalio&#8217;s warning about U.S. decline and his mixed feelings about his first 100 days in office. Major U.S. retailers are pushing Chinese suppliers to resume shipments, while the Nasdaq has made a significant comeback.
Here&#8217;s a quick recap of the top stories.
Tesla CEO Responds To Dalio&#8217;s Warning
Billionaire investor Ray Dalio recently warned about the future of the United States, predicting a breakdown in the global order and the end of America&#8217;s dominant economic role. Tesla CEO Elon Musk responded by suggesting that China, not the U.S., is now the world&#8217;s true consumption powerhouse.
<a href="https://www.benzinga.com/news/25/04/45063781/elon-musk-reacts-after-ray-dalio-warns-of-us-decline-says-china-has-already-surpassed-america-as-global-consumption-leader">Read the full article here.</a>
Musk&#8217;s Mixed Feelings About DOGE
Elon Musk has expressed mixed feelings about his first 100 days in office, acknowledging progress in the Department of Government Efficiency (DOGE) but admitting limitations due to an "entrenched set of interests".
<a href="https://www.benzinga.com/markets/25/05/45163408/doge-not-as-effective-as-id-like-says-elon-musk-calls-reform-really-difficult-like-changing-direction-of-a-fleet-of-supertankers">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45110267/a-worker-says-weve-been-sold-a-lie-work-like-a-dog-until-65-just-to-enjoy-maybe-10-15-years-of-freedom" target="_blank" rel="noreferrer noopener">A Worker Says We&#8217;ve Been Sold A Lie—&#8217;Work Like A Dog Until 65+ Just To Enjoy Maybe 10-15 Years Of Freedom&#8217;</a>
US Retailers Push Chinese Suppliers
Major U.S. retailers, including Walmart Inc., Home Depot Inc., and Target Corporation, have reportedly asked Chinese suppliers to resume shipments, with tariffs to be absorbed by the American retailers.
<a href="https://www.benzinga.com/markets/equities/25/04/45037102/walmart-home-depot-target-push-chinese-suppliers-to-resume-shipments-agree-to-absorb-tariffs-report">Read the full article here.</a>
Musk Targets Fed&#8217;s Renovation Spending
Elon Musk called for the Department of Government Efficiency (DOGE) to investigate the Federal Reserve's $2.5 billion headquarters renovation spending, escalating his scrutiny of the central bank.
<a href="https://www.benzinga.com/government/regulations/25/05/45160426/elon-musk-targets-feds-2-5-billion-headquarters-renovation-as-doge-scrutiny-of-central-bank-intensifies-thats-an-eyebrow-raiser">Read the full article here.</a>
Nasdaq&#8217;s Remarkable Recovery&nbsp;
The Nasdaq has staged a remarkable turnaround in April, transforming from what was initially dubbed the "worst April for the stock market since the Great Depression" to posting gains for the month.
<a href="https://www.benzinga.com/markets/equities/25/04/45032188/tom-lee-backs-scott-bessent-white-house-put-theory-as-nasdaq-flips-from-worst-april-start-since-great-depression-to-major-comeback">Read the full article here.</a>
Read Next:
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<li><a href="https://benzinga.com/news/events/25/04/44971154/trump-fails-to-impress-americas-young-shows-poll-as-they-still-favor-biden-only-15-think-us-on-right-track" target="_blank" rel="noreferrer noopener">Trump Fails To Impress America&#8217;s Young, Shows Poll As They Still Favor Biden — Only 15% Think US On Right Track</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image via Shutterstock

Economics

Media

Elon Musk Reacts After Ray Dalio Warns Of US Decline, US Retailers Push Chinese Suppliers To Resume Shipments And More: This Week In Economics

A federal rule that aimed to wipe medical debt <a href="https://www.benzinga.com/money/how-to-read-a-credit-report">off credit reports</a> is now on shaky ground — and it could be scrapped before it even takes effect. The policy, introduced during the Biden administration, was designed to prevent medical bills from dragging down credit scores or influencing lending decisions. But now, that effort may be undone.
The Consumer Financial Protection Bureau (CFPB), the agency behind the rule, recently changed course and joined trade groups in asking a judge to vacate the regulation. According to a USA TODAY <a href="https://www.usatoday.com/story/money/2025/05/01/trump-asks-court-to-end-biden-medical-debt-rule/83394901007/">report</a>, the agency argued that the rule exceeded its legal authority, surprising consumer advocates who expected the CFPB to defend its own policy. Originally set to take effect in March, the rule was already paused by a federal court and may now be permanently shelved.
Supporters of the rule say removing medical debt from credit reports is a commonsense reform that protects people from being penalized for unavoidable and often unexpected healthcare costs. About 15 million Americans currently have medical debt listed on their credit reports, which can make it harder to get approved for loans, <a href="https://www.benzinga.com/money/credit-cards">credit cards</a>, or even rental housing. Critics of the reversal warn this move could keep struggling families stuck in a cycle of bad credit caused by something as common as an emergency room visit or surgery.
On the flip side, credit industry groups argued the rule would restrict lenders from seeing the full picture of a borrower's financial situation. They believe access to complete information — including medical debt — helps lenders make more informed decisions and benefits borrowers in the long run.
The debate comes as credit reporting practices are already evolving. In recent years, the major credit bureaus voluntarily removed certain types of medical debt, including paid bills and debts under $500. Still, a large chunk of unpaid medical bills remains, and without a clear federal rule, it's up to the courts and individual lenders to decide how that information is used.
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</ul>
Photo: Shutterstock

Financial Advisors

Personal Finance

Medical Debt Rule On The Brink: Who Is Impacted?

These large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Duolingo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) shares rose 27.39% after the company reported better-than-expected financial results and raised <a href="https://www.benzinga.com//node/45149547" target="_blank" rel="noreferrer noopener">its FY25 sales guidance</a>. Several analysts <a href="https://www.benzinga.com/quote/duol/analyst-ratings" target="_blank" rel="noreferrer noopener">boosted the price forecast</a>.</li>
<li>CoreWeave, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>) shares increased 24.15%.</li>
<li>Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) stock escalated 21.24% after the company reported better-than-expected financial results and raised <a href="https://www.benzinga.com//node/45061907" target="_blank" rel="noreferrer noopener">its FY25 adjusted EPS guidance</a>. Many analysts <a href="https://www.benzinga.com/quote/thc/analyst-ratings" target="_blank" rel="noreferrer noopener">boosted the price forecast</a>.</li>
<li>Carrier Global Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) stock upped 19.10% after it reported better-than-expected first-quarter financial results<a href="https://www.benzinga.com//node/45135625" target="_blank" rel="noreferrer noopener"> and raised its FY25 guidance</a>.</li>
<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) stock upped 18.90%. Akeso, Inc. announced the Chinese Health Authorities, the National Medical Products Administration (NMPA) approved ivonescimab for a second indication based on the results of the Phase 3 <a href="https://www.benzinga.com//node/45046531" target="_blank" rel="noreferrer noopener">trial, HARMONi-2 or AK112-303</a>.</li>
<li>Aurora Innovation, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) stock upped 18.31% last week after the company announced it launched its commercial self-driving <a href="https://www.benzinga.com//node/45128218" target="_blank" rel="noreferrer noopener">trucking service in Texas</a>.</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) shares were up 16.83% after Rosenblatt upgraded the stock from Sell to Neutral and raised its <a href="https://www.benzinga.com/quote/anet/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $55 to $85</a>.</li>
<li>Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>) stock grew 14.83% after the company reported better-than-expected financial results and raised its FY25 GAAP EPS and <a href="https://www.benzinga.com//node/45108290" target="_blank" rel="noreferrer noopener">sales guidance above estimates</a>. Many analysts <a href="https://www.benzinga.com/quote/tt/analyst-ratings" target="_blank" rel="noreferrer noopener">boosted the price forecast</a>.</li>
<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) shares escalated 13.90% f<a href="https://www.benzinga.com//node/45149628" target="_blank" rel="noreferrer noopener">ollowing strong quarterly sales</a>. Many analysts <a href="https://www.benzinga.com/quote/dxcm/analyst-ratings" target="_blank" rel="noreferrer noopener">revised the price forecast</a>.</li>
<li>XPO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) shares increased 13.81%  after the company reported better-than-expected <a href="https://www.benzinga.com//node/45099967" target="_blank" rel="noreferrer noopener">first-quarter EPS results</a>. Many analysts <a href="https://www.benzinga.com/quote/xpo/analyst-ratings" target="_blank" rel="noreferrer noopener">revised the price forecast</a>.</li>
</ol>
Photo by DANIEL CONSTANTE via Shutterstock

ANET

CARR

CRWV

DUOL

DXCM

EXAS

SMMT

Duolingo, CoreWeave And DexCom Are Among Top 10 Large-Cap Gainers Last Week (Apr 28-May 2): Are The Others In Your Portfolio?

The week was a whirlwind for&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with a series of news stories that painted a mixed picture for the tech giant. From tariff impacts to potential manufacturing shifts, easing App Store rules, and AI-enabled iPhone sales, the company made headlines on multiple fronts.
Apple Braces for $900 Million Tariff Impact&nbsp;&#8211; During the company&#8217;s fiscal second-quarter earnings call, CEO Tim Cook revealed that Apple is anticipating a $900 million cost impact in the June quarter due to tariffs. Cook also stated that the majority of iPhones sold in the U.S. during this period will be manufactured in India, with Vietnam serving as the production hub for most iPads, Macs, Apple Watches, and AirPods sold in the U.S.&nbsp;<a href="https://www.benzinga.com/tech/25/05/45156890/apple-ceo-tim-cook-warns-of-900-million-tariff-impact-in-june-quarter-expects-majority-of-iphones-sold-in-us-to-be-made-in-india">Read the full article here.</a>
Tim Cook Discusses Potential iPhone Manufacturing Shift to the U.S.&nbsp;&#8211; In a conversation with U.S. Commerce Secretary Howard Lutnick, Cook reportedly identified a key factor that could lead to iPhone manufacturing moving to the United States.&nbsp;<a href="https://www.benzinga.com/news/25/05/45179104/tim-cook-tells-commerce-secretary-lutnick-how-apple-could-bring-iphone-manufacturing-to-us">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/05/45179100/were-spending-1541-eating-out-and-956-on-groceries-a-month-says-one-couple-now-theyre-wondering-is-that-normal" target="_blank" rel="noreferrer noopener">&#8216;We&#8217;re Spending $1,541 Eating Out And $956 On Groceries A Month,&#8217; Says One Couple. Now They&#8217;re Wondering, Is That Normal?</a>
Apple Ordered to Ease App Store Rules&nbsp;&#8211; Following a U.S. court ruling against Apple&#8217;s anti-steering practices, Epic Games, backed by Tencent Holdings, proposed a peace deal. The deal involves Epic Games returning Fortnite to the App Store if Apple stops collecting commissions on purchases made outside its App Store and ceases blocking developers from linking to alternative payment methods.&nbsp;<a href="https://www.benzinga.com/news/legal/25/04/45123864/apple-ordered-to-ease-app-store-rules-in-us-epic-games-ceo-tim-sweeney-proposes-peace-deal-saying-well-return-fortnite-and-drop-all-litigation-only-if">Read the full article here.</a>
Apple Executive Accused of Lying Under Oath&nbsp;&#8211; U.S. District Judge Yvonne Gonzalez Rogers accused Apple and one of its top executives of deliberately evading a 2021 injunction meant to curb the company&#8217;s control over App Store payments. Rogers stated that Apple&#8217;s vice president of Finance, Alex Roman, &#8220;outright lied under oath&#8221; about when the company decided to impose a 27% commission on certain web-based purchases made through iPhone apps.&nbsp;<a href="https://www.benzinga.com/25/05/45126668/apple-lied-under-oath-judge-says-tim-cook-ignored-internal-warnings-in-epic-games-case-fallout-this-is-an-injunction-not-a-negotiation">Read the full article here.</a>
AI-Enabled iPhone Sales Surge Despite Siri Struggles&nbsp;&#8211; Despite facing scrutiny over delays in rolling out key Apple Intelligence and Siri features, CEO Tim Cook stated that the company&#8217;s AI-powered iPhones are already giving Apple a noticeable sales edge.&nbsp;<a href="https://www.benzinga.com/markets/equities/25/05/45161269/despite-reports-about-apples-ai-and-siri-struggles-tim-cook-says-iphone-16-demand-surged-in-ai-enabled-countries">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/25/05/45176607/bitcoin-ethereum-xrp-dogecoin-relatively-flat-low-volume-weekend-can-change-things-but-well-see" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Hold Steady As Bulls Eye Further Gains &#8211; Benzinga</a>
Photo Courtesy: hanohiki via Shutterstock.com
 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/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a>

AAPL

Apple Braces For $900 Million Tariff Impact, Tim Cook Discusses Potential iPhone Manufacturing Shift To US With Lutnick And More: This Week In Appleverse

<a href="https://www.benzinga.com/news/25/04/44821570/bezos-bets-big-slate-auto-quietly-raises-111m-series-a-to-build-25k-ev-truck-eyes-2026-launch-in-indianapolis">Slate Auto</a>, the Jeff Bezos-backed EV startup making headlines for its stripped-back, deeply customizable approach, has raised over $111 million to bring its first vehicle, the &#8220;Blank Slate,&#8221; to market by the end of 2026.
The startup is taking a different approach to electric vehicle design, stripping away traditional features in favor of simplicity. Its modular, paint-free, screen-free EV pickup has ignited curiosity for its affordability and customization stance, and now, with hundreds of millions in funding and over 400 employees, Slate Auto is scaling up for production in Indiana,<a href="https://techcrunch.com/2025/04/24/bezos-backed-slate-auto-debuts-analog-ev-pickup-truck-that-is-decidedly-anti-tesla/"> TechCrunch</a> writes.
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<h2 class="wp-block-heading">A Truck That Starts With Less So You Can Build More</h2>
Slate Auto's vehicle enters the market with a dramatically different philosophy,<a href="https://www.businessinsider.com/slate-auto-truck-ev-electric-truck-photos-price-details-revealed-2025-4"> Business Insider</a> writes. Priced around $25,000, the truck comes without traditional paint or even power windows, but that's entirely intentional.
The design strips out traditional cost centers to maximize affordability while inviting consumers to build up the vehicle as their needs and budget evolve. Slate <a href="https://www.slate.auto/en/news">said</a> it is launching with over 100 available accessories, including modular kits that transform the truck from a two-seater pickup into a five-passenger SUV.
Instead of a single, fixed model, buyers start with a platform that can be reshaped through &#8220;starter packs&#8221; bundled customization options that include tech, comfort, or utility upgrades. According to TechCrunch, the base model offers a 150-mile range with a 52.7kWh battery and 1,400-pound payload capacity. A larger battery is optional, pushing the range up to 240 miles. Drivers can opt for entertainment screens, upgraded speakers, racks, light kits, and even branded tailgate wraps as aftermarket add-ons.
Trending: Donald Trump just announced a $500 billion AI infrastructure deal — <a href="https://www.benzinga.com/money/seize-a-share-while-you-still-can-in-the-2-trillion-entertainment-market-with-elf-labs-at-just-2-25-share">here's how you can invest in the entertainment market's next big disruptor at $2.25 per share</a>.
Slate has also launched Slate University, a digital DIY learning hub offering how-to videos, installation support, and resources to help owners modify their vehicles on their own terms.
CEO Chris Barman, a longtime auto industry executive with roots at Chrysler, says Slate is offering more than a truck. "We are building the affordable vehicle that has long been promised but never been delivered," Barman<a href="https://www.youtube.com/watch?v=ZWVhkgMIo6I&amp;ab_channel=InsideEVs"> said</a> at Slate's unveiling on April 24 in Long Beach, California.
<h2 class="wp-block-heading">Major Backers Signal A Shift In EV Strategy</h2>
Slate Auto's $111 million Series A fundraising round is backed by high-profile investors, including Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Bezos via his private family office, and Mark Walter, CEO of Guggenheim Partners and majority owner of the L.A. Dodgers.
According to<a href="https://techcrunch.com/2025/04/08/inside-the-ev-startup-secretly-backed-by-jeff-bezos/"> TechCrunch</a>, Walter has played a hands-on role in guiding Slate's early strategy through his existing manufacturing network. Other investors include early backers of Re:Build Manufacturing, where Slate Auto was initially incubated.
With this strategic funding in place, Slate joins a growing class of EV startups shifting their focus away from expensive, feature-heavy vehicles toward more scalable, accessible options for first-time EV buyers,<a href="https://www.businessinsider.com/slate-auto-ceo-jeff-bezos-backed-ev-startup-cheap-pickup-2025-4"> as Business Insider</a> reported.
See Also: Shark Tank's Kevin O'Leary called Missing Ring his biggest mistake — Don't repeat history—<a href="https://www.benzinga.com/money/big-tech-has-spent-billions-acquiring-ai-smart-home-startups-one-company-stands-to-benefit-and-has-already-made-10-million">invest in RYSE at just $1.90/share.</a>
According to<a href="https://www.theverge.com/news/658223/slate-factory-electric-truck-location-indiana"> The Verge</a>, Slate will begin production of its truck in a retooled facility located in Warsaw, Indiana. The move places Slate among a rising number of EV companies committing to domestic production as a means to stabilize supply chains and reduce costs, Business Insider<a href="https://www.businessinsider.com/slate-auto-electric-pickup-truck-indiana-factory-location-2025-4"> reported</a>.
Over 40 of job listings posted on<a href="https://www.linkedin.com/company/slateauto/jobs/"> LinkedIn</a> show that the company is actively hiring across engineering, operations, and customer experience roles in preparation for its 2026 launch window.
<h2 class="wp-block-heading">A Bet On Personalization, Simplicity, And Mass Appeal</h2>
While many EV startups have struggled to reach scale with premium offerings, Business Insider says that Slate is flipping that model entirely. Instead of building high-end vehicles and slowly lowering prices, the company is starting with affordability and betting that personalization and low barriers to entry will drive long-term loyalty.
The company's bold decision to deliver a truly modular EV has already separated it from competitors like Rivian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), and from now-defunct challengers like Fisker and Canoo, which struggled with the capital-intensive path to production. Slate Auto's vision of &#8220;personal, not premium&#8221; could represent a long-overdue shift in how electric vehicles are imagined, built, and sold in the U.S.
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RIVN

Slate Auto Secures $111M From Jeff Bezos And Guggenheim's Mark Walter To Build $20K Electric Truck, Challenging Tesla's Market Dominance

The weekend was a whirlwind of activity in the financial world, with a particular focus on cryptocurrencies. From Peter Schiff&#8217;s surprising preference for Dogecoin over Bitcoin to Riot Platforms&#8217; Q1 results, there was no shortage of intriguing developments. Let&#8217;s dive into the top stories.
Peter Schiff Prefers Dogecoin Over Bitcoin
Known for his criticism of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Peter Schiff has made headlines by expressing a preference for Dogecoin, a meme-based cryptocurrency, over the leading digital currency. Schiff&#8217;s stance on Bitcoin has always been critical, questioning its value and the investment rationale of its holders.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45127948/peter-schiffs-bitcoin-rejection-is-no-surprise-but-the-economist-once-called-dogecoin-a-superior-cryptocurrency">Read the full article here.</a>
Riot Platforms&#8217; Q1 Results
Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) reported its Q1 financial results after market close on Thursday. The company saw a significant increase in total revenue from $79.3 million in the prior year&#8217;s quarter, primarily driven by a $71.5 million increase in Bitcoin mining revenue.
<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45154528/bitcoin-miner-riot-platforms-reports-q1-results-shares-slide">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/45111384/shiba-inu-burn-rate-skyrockets-2094-what-is-going-on" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Skyrockets 2,094%: What Is Going On?</a>
Classover Holdings&#8217; $400 Million Equity Deal
Classover Holdings Inc. announced a $400 million equity purchase facility agreement with Solana Strategies Holdings. The funds will support working capital, acquisitions, and a new treasury strategy centered around Solana tokens.
<a href="https://www.benzinga.com/trading-ideas/movers/25/05/45151295/classover-holdings-kidz-announces-400-million-equity-deal-to-back-solana-based-treasury-strategy-whats-going-on">Read the full article here.</a>
SoFi Reintroduces Crypto
SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) plans to reintroduce cryptocurrency investing by the end of 2025, following a major shift in the regulatory environment under the Trump administration. SoFi had previously discontinued its crypto investment services in late 2023 due to heightened federal scrutiny of digital assets.
<a href="https://www.benzinga.com/news/management/25/04/45084982/sofi-brings-crypto-back-after-trump-policy-changes">Read the full article here.</a>
World Liberty&#8217;s Stablecoin In $2 Billion Deal
Eric Trump announced that the Trump family-backed stablecoin USD1 will be used to close a $2 billion deal with cryptocurrency exchange Binance. The announcement was made at the Token2049 cryptocurrency conference in Dubai.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45160707/eric-trump-says-world-libertys-stablecoin-will-be-used-to-close-a-2-billion-deal-dollar-token-to-also-get-integrated-with-justin-suns-tron-blockchain">Read the full article here.</a>
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image Via Shutterstock

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

Cryptocurrency

$BTC

RIOT

SOFI

World Liberty's Stablecoin In $2 Billion Deal, SoFi Reintroduces Crypto And Riot Platforms' Q1 Results: This Week In Crypto

The week has been a whirlwind of political and financial news. From Elon Musk&#8217;s mixed feelings about his role in the Department of Government Efficiency (DOGE) to the impeachment proceedings against President Donald Trump, there&#8217;s a lot to unpack. Let&#8217;s dive into the top stories of the week.
Musk&#8217;s DOGE Struggles
Elon Musk, CEO of&nbsp;Tesla Inc., has expressed his concerns about the effectiveness of his role in DOGE. Musk described his initial tenure as &#8220;very, very intense,&#8221; praising his team&#8217;s efforts but also acknowledging the challenges posed by an &#8220;entrenched set of interests.&#8221;&nbsp;<a href="https://www.benzinga.com/markets/25/05/45163408/doge-not-as-effective-as-id-like-says-elon-musk-calls-reform-really-difficult-like-changing-direction-of-a-fleet-of-supertankers">Read the full article here.</a>
Impeachment Proceedings Against Trump
Rep. Shri Thanedar (D-Mich.) has initiated impeachment proceedings against&nbsp;President Donald Trump. The impeachment articles include accusations related to various actions by the incumbent that Thanedar claims undermine democracy. However, the impeachment articles face slim chances in the Republican-controlled House.&nbsp;<a href="https://www.benzinga.com/25/04/45056899/michigan-democrat-files-impeachment-articles-against-trump-over-real-damage-to-democracy-enough-is-enough">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/tech/25/04/45057119/anthony-scaramucci-once-purchased-1200-worth-of-microsoft-stock-for-his-son-in-1992-and-then-forgot-about-it-three-decades-later-it-quietly-turned-into-a-small-fortune-that-he-didn" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Once Purchased $1,200 Worth Of Microsoft Stock For His Son In 1992 And Then Forgot About It — Three Decades Later, It Quietly Turned Into A Small Fortune</a>
Trump&#8217;s First 100 Days
President Trump has now been back in the White House for 100 days. This article provides a comprehensive look at where Trump stands with his election promises, voter polls, signing of laws and executive orders, and the stock market after his first 100 days.&nbsp;<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/04/45069781/trumps-first-100-days-what-he-delivered-where-he-fell-short-how-markets-reacted">Read the full article here.</a>
AOC&#8217;s Inquiry into Congressional Stock Trading
Rep. Alexandria Ocasio-Cortez (D-N.Y.) has used the recent tariff-driven market swings to renew her push for a ban on congressional stock trading. She and other Democrats are calling for transparency and legislative reform to address what they view as systemic ethical risks.&nbsp;<a href="https://www.benzinga.com/news/legal/25/04/45056354/alexandria-ocasio-cortez-askshow-much-did-majorie-taylor-greene-make-when-she-bought-the-dip">Read the full article here.</a>
Musk&#8217;s Scrutiny of Federal Reserve Spending
Elon Musk has called for DOGE to investigate the Federal Reserve's $2.5 billion headquarters renovation spending. This move escalates his scrutiny of the central bank as he prepares to reduce his role in the government efficiency initiative.&nbsp;<a href="https://www.benzinga.com/government/regulations/25/05/45160426/elon-musk-targets-feds-2-5-billion-headquarters-renovation-as-doge-scrutiny-of-central-bank-intensifies-thats-an-eyebrow-raiser">Read the full article here.</a>
Read Next:&nbsp;<a href="https://benzinga.com/25/05/45179100/were-spending-1541-eating-out-and-956-on-groceries-a-month-says-one-couple-now-theyre-wondering-is-that-normal" target="_blank" rel="noreferrer noopener">&#8216;We&#8217;re Spending $1,541 Eating Out And $956 On Groceries A Month,&#8217; Says One Couple. Now They&#8217;re Wondering, Is That Normal?</a>
 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/navdeep-yadav" target="_blank" rel="noopener">Navdeep Yadav.</a> 
Image via Shutterstock

Trump's First 100 Days, Michigan Democrat Files For President's Impeachment, Elon Musk's Scrutiny Of Federal Reserve Spending And More: This Week In Politics

The past weekend was a rollercoaster ride for the business world, with a particular focus on the electric vehicle (EV) giant,&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). From criticism of Tesla&#8217;s robotaxi economics to insider stock sales, the EV industry was abuzz with news. Meanwhile,&nbsp;Ford Motor Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) reported a surge in sales, and&nbsp;JetBlue Airways Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) is reportedly in talks with United Airlines.
Here&#8217;s a quick recap of the top stories.
Jim Chanos Criticizes Tesla&#8217;s Robotaxi Economics
Prominent short seller Jim Chanos took a jab at Tesla&#8217;s robotaxi economic projections, labeling them as &#8220;ridiculous.&#8221; Chanos pointed out several overlooked cost factors, including &#8220;dead miles,&#8221; high commercial auto insurance costs, and cleaning expenses.
<a href="https://www.benzinga.com/markets/equities/25/04/45096101/short-seller-jim-chanos-slams-tesla-robotaxi-economics-as-ridiculous-citing-dead-miles-insurance-costs-and-cleaning-expenses">Read the full article here.</a>
Tesla Chairwoman Continues Insider Stock Sales
Tesla board member Joe Gebbia made headlines with a $1 million insider stock purchase, the company&#8217;s first insider buy in years. This comes just before Chairwoman Robyn Denholm&#8217;s planned stock sale, continuing a pattern of exercising Tesla options and selling off common shares.
<a href="https://www.benzinga.com/news/management/25/04/45108729/tesla-chairwoman-files-to-sell-more-stock-continuing-pattern-of-insider-sales-at-ev-giant">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/25/04/44935272/tesla-reports-q1-after-the-bell-68-expect-the-company-to-miss-analysts-estimates" target="_blank" rel="noreferrer noopener">Will Tesla Beat The Street? 68% Expect Something Markets May Not Be Ready For</a>
Ford Reports 16% Sales Growth in April
Ford CEO Jim Farley announced a 16% increase in sales in April, ahead of the company&#8217;s earnings call with investors. Farley attributed the surge to the positive response from customers to their &#8220;From America, For America&#8221; offer of employee pricing.
<a href="https://www.benzinga.com/markets/25/05/45160044/jim-farley-says-ford-sales-grew-16-in-april-ahead-of-earnings-call-customers-have-really-responded-to-our">Read the full article here.</a>
Tesla Board Explored Replacing Elon Musk As CEO
Reports emerged that Tesla&#8217;s board had been considering a successor to CEO Elon Musk following significant financial setbacks. However, both Musk and Chair Robyn Denholm have denied these reports.
<a href="https://www.benzinga.com/markets/25/04/45124373/tesla-board-explored-replacing-elon-musk-as-tesla-ceo-a-month-ago-report">Read the full article here.</a>
JetBlue In Talks With United Airlines Over Possible Partnership
JetBlue is reportedly in discussions with United Airlines Holdings Inc. over a potential partnership. This comes after talks of an alliance with American Airlines Group fell through in 2023.
<a href="https://www.benzinga.com/25/04/45093263/jetblue-in-talks-with-united-airlines-over-possible-partnership-report">Read the full article here.</a>
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Photo Courtesy: Ian Dewar Photography On Shutterstock.com

Short Sellers

JBLU

Tesla Board Denies Considering Elon Musk Replacement, Ford Reports 16% Sales Growth In April And More: This Week In Mobility

"Fast food" used to mean cheap, greasy, and everywhere. You didn't need to check your bank account before grabbing a burger and fries. But now, that dollar menu is looking more like a memory — and according to "Rich Dad, Poor Dad" <a href="https://www.benzinga.com/personal-finance/25/03/44389025/robert-kiyosaki-of-rich-dad-poor-dad-says-fastest-way-to-lose-money-is-investing-in-what-you-dont-understand">author Robert Kiyosaki</a>, it's not just hitting broke college kids or struggling families. It's hitting the rich.
On April 26, <a href="https://x.com/theRealKiyosaki/status/1916273717380059394">Kiyosaki posted on X</a> that even McDonald's and Burger King franchise owners — the ones with multiple stores — are going under.
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"WHY ARE A FEW REALLY REALLY RICH people…getting POORER?" he wrote, all caps and all. "The problem is the franchise stores are going bankrupt."
His reason? The people who used to grab fast food the most can't afford it anymore.
"One reason is today's poor cannot <a href="https://www.benzinga.com/insights/news/25/04/44880308/heres-how-much-1000-invested-in-mcdonalds-20-years-ago-would-be-worth-today">afford to eat at McDonald's</a> or Burger King," he wrote. "While this might be good for the poor to eat healthier less expensive foods like apples and kale, inflation causing even the richest…to become poorer."
Kiyosaki, who's spent decades warning people about inflation, fiat currency, and what he calls "fake teachers," isn't exactly celebrating the shift. He sees it as another sign that the system is cracking — even if a few folks are eating cleaner.
"A few Tweets or ‘Xs' ago, I stated one of McDonald's potato suppliers went bankrupt… because the poor were eating less French Fries," he added. "Today the franchise owners… Some of the richest people in the world are going bankrupt. This is not healthy."
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
He used the post to push his long-running message: turn this crisis into a learning opportunity. "Please use this financial crisis to become healthier, wealthier… by becoming wiser," he wrote. And he urged followers to ditch traditional schooling and look for real-world lessons instead: "Knowledge is the new money."
Kiyosaki closed with a plug for his books, financial games, and favorite assets: "saveing [sic] gold, silver, and Bitcoin."
Americans are clearly rethinking their drive-thru habits. A <a href="https://www.lendingtree.com/debt-consolidation/fast-food-survey/">LendingTree survey</a> from last year found that 78% now see fast food as a luxury, not a budget-friendly meal. Another 62% say they're cutting back altogether.
So yes, the fries are more expensive. The burgers are smaller. And the fallout isn't just hitting the "poor"— it's hitting some of the franchise owners, too…the ones who were supposed to be safe.
Kiyosaki sees it as a signal to wise up and ditch the debt, question what you're being taught, and stop counting on a system that's getting pricier by the combo meal. Whether you agree with his <a href="https://www.benzinga.com/25/04/44981953/strongly-believe-bitcoin-will-reach-180k-to-200k-in-2025-robert-kiyosaki-says">gold-and-Bitcoin gospel</a> or not, he's got a point: when even McDonald's starts to feel like a splurge, it might be time to <a href="https://www.benzinga.com/personal-finance/25/02/43539942/are-you-rich-heres-what-americans-think-you-need-to-be-considered-wealthy-2">rethink what "rich" really means</a>.
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Image: Shutterstock

Robert Kiyosaki, 'Rich Dad Poor Dad,' Says Poor People Can't Afford To Eat McDonald's Or Burger King — Good For Health But Bad News For Economy

Editor's note: This story has been updated to reflect that the announcement was made on Saturday at the Berkshire Hathaway annual meeting.
Warren Buffett shocked attendees at the Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) annual meeting on Saturday by announcing that he will step down as CEO by the end of the year, with Greg Abel set to succeed him.
What Happened: The Associated Press <a href="https://www.politico.com/news/2025/05/03/warren-buffett-retire-00325196">reports</a>&nbsp;that Buffett stated, &#8220;I&nbsp;think the time has arrived&nbsp;where Greg should become the&nbsp;chief executive of the company&nbsp;at year end.&#8221; Buffett will turn 95 on August 30.
Buffett&#8217;s retirement marks the end of&nbsp;a 60-year tenure during which&nbsp;he transformed Berkshire Hathaway from&nbsp;a struggling textile firm into a major conglomerate with a market capitalization of $1.16 trillion.
See Also:&nbsp;<a href="https://benzinga.com/25/05/45158172/amazon-ceo-andy-jassy-predicts-pandemic-like-consumer-shifts-says-company-is-maniacally-focused-on-keeping-prices" target="_blank" rel="noreferrer noopener">Andy Jassy Predicts Pandemic-Like Consumer Shifts, Says Amazon Is &#8216;Maniacally Focused&#8217; On Keeping Prices Low</a>
Buffett plans to retain his Berkshire stock. He said, &#8220;I&nbsp;would add this, the decision&nbsp;to keep every share is&nbsp;an economic decision because I&nbsp;think the prospects of Berkshire&nbsp;will be better under Greg's&nbsp;management than mine.&#8221; He also mentioned his intention to &#8220;hang around&#8221; to provide guidance during the transition, but&nbsp;operational and capital allocation decisions&nbsp;will be under Abel&#8217;s control.
The announcement&nbsp;came as a surprise to&nbsp;most of Berkshire&#8217;s board members, with only Buffett&#8217;s children, Howie and Susie, being aware of the plan. Abel has been considered as Buffett&#8217;s potential&nbsp;successor since at least 2021.
Why It Matters: Buffett&#8217;s retirement signifies the end of an era at Berkshire Hathaway. His investment strategies and leadership have been instrumental in the company&#8217;s growth.
Abel&#8217;s appointment as CEO is a significant move, marking a new chapter in the company&#8217;s history.
His leadership will be closely watched by investors and market analysts alike, as he takes on the challenge of steering the conglomerate in the post-Buffett era.
Read Next:&nbsp;<a href="https://benzinga.com/news/earnings/25/05/45184121/warren-buffett-warns-tariffs-could-backfire-on-economy-says-trade-should-not-be-a-weapon-its-a-big-mistake-i-dont-think-its-wise" target="_blank" rel="noreferrer noopener">Warren Buffett Warns Tariffs Could Backfire on Economy, Says, ‘Trade Should Not Be A Weapon. It's A Big Mistake, I Don't Think It's Wise' &#8211; Benzinga</a>
Photo: Kent Sievers/Shutterstock

Warren Buffett To Step Down as Berkshire Hathaway CEO by End of Year, Asks Board To Confirm Greg Abel as Successor (CORRECTED)

When most investors put billions into a company, they tend to buy in—literally. New phone, new laptop, new earbuds. <a href="https://www.benzinga.com/personal-finance/25/02/43612207/warren-buffett-has-lived-in-his-31500-home-for-67-years-and-calls-it-one-of-his-best-investments-but-warned-a-house-can-be-a-nightmare">Warren Buffett? Not so much</a>.&nbsp;
For years, the Oracle of Omaha held onto a $20 flip phone, even as his Apple investment soared into the tens of billions. The man who could buy a small tech company before breakfast was still using a device most people ditched before Instagram even existed.
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Let's rewind.
Back in 2016, Buffett's Berkshire Hathaway <a href="https://www.benzinga.com/general/education/24/10/41188299/if-you-invested-1-000-in-apple-stock-when-warren-buffett-bought-shares-heres-how-much-youd-have">started scooping up Apple shares</a>. By 2018, he had a serious stake. At that point, he was still proudly carrying a Samsung SCH-U320 flip phone—a relic even then. While Apple's CEO Tim Cook was busy running one of the most valuable companies on Earth, he was also trying to convince his biggest shareholder to at least use the product.
"Tim Cook sent me a Christmas card again this year saying he's going to sell me an iPhone this year," Buffett said in a <a href="https://www.cnbc.com/2018/01/10/warren-buffet-isnt-eager-to-trade-his-flip-phone-in-for-an-iphone.html">2018 CNBC interview</a>, holding up his vintage phone like it was a trophy. He even joked that Cook kept reminding him every Christmas.
Still, Buffett didn't budge.
He didn't switch to an iPhone until 2020, a year when Apple's stock price hit a record high, driving the company's valuation near $1.5 trillion. <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-scored-billions-gain-apple-stock-profit-washed-up-2020-6-1029293940">According to Markets Insider</a>, Berkshire's Apple stake hit roughly $72 billion at the end of 2019—and by mid-2020, that number had jumped by another $11 billion, hitting $83 billion. That single stock made up over 40% of Berkshire's equity portfolio.
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
That's when Buffett finally let go of his beloved burner.
"My flip phone is permanently gone," he told <a href="https://www.cnbc.com/2020/02/24/apple-investor-warren-buffett-traded-in-his-flip-phone-for-an-iphone.html">CNBC's Becky Quick on Squawk Box</a> in February 2020. "I've been given several of them, including [from] Tim Cook." He officially switched to an iPhone 11, though he admitted he mostly used it "as a phone" and wasn't diving deep into apps or emoji keyboards. "You're looking at an 89-year-old guy who's barely beginning to get with it," he said.
It's worth noting: Buffett was already managing one of the largest Apple stakes in the world before ever making a single FaceTime call.
His aversion to upgrades isn't new. Back in a <a href="https://www.cnn.com/2013/10/23/us/warren-buffett-piers-interview/index.html">2013 CNN interview</a>, Buffett pulled out a Nokia flip phone and joked, "This is the one Alexander Graham Bell gave me." He added, "I don't throw anything away until I've had it 20 or 25 years." That wasn't some figure of speech—he meant it. The Nokia was still in his pocket at a time when iPhones had fingerprint scanners.
See Also: <a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a>
The underlying philosophy? Buffett <a href="https://www.benzinga.com/personal-finance/25/03/44464242/warren-buffett-said-i-love-your-business-i-love-you-ill-give-you-4-billion-but-refused-to-cross-an-ocean-to-see-a-business-before-buying-it">never needed to use a product to see its value</a>. He bought Apple not because he wanted to join the iPhone hype, but because he believed in the business model. And he believed in it enough to let it dominate his portfolio.
Fast forward to 2024, and <a href="https://www.benzinga.com/markets/equities/25/03/44349818/warren-buffett-dumped-nearly-70-of-apple-shares-but-its-price-to-sales-ratio-remains-elevated-at-8-2x-warns-this-market-analyst">Buffett began trimming that Apple stake</a>. He sold about 115 million shares in Q1—roughly 13% of Berkshire's total. Then in Q2, Berkshire shed another $80 billion worth of Apple stock. Still, Berkshire retained more than 905 million shares valued at approximately $174 billion, according to company filings. That's 6% of all outstanding Apple shares and nearly one-fifth of Berkshire's entire portfolio.
So while Buffett finally <a href="https://www.benzinga.com/25/04/45032214/analyst-questions-apples-reported-iphone-shift-to-india-amid-china-tariff-pressures-doesnt-solve-all-the-problems">embraced Apple hardware</a>, he did so at his own pace—and only after Apple stock helped add tens of billions to his bottom line.
Because for Buffett, it's never been about chasing trends. It's about buying value and holding it.
Even if that means holding a flip phone long past its expiration date.
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Image: Shutterstock

Warren Buffett Held $72 Billion In Apple Stock — But Still Used A $20 Samsung Flip Phone: 'I Don't Throw Anything Away Until I've Had It 25 Years'

A 28-year-old woman with a master&#8217;s degree in business is pulling in more than $130,000 a year through OnlyFans. She doesn't do nudity, but after years of grinding to build a loyal audience, she runs her <a href="https://www.benzinga.com/content/40885756/discover-how-to-start-an-online-business-with-a-proven-blueprint">online business</a> full-time. Despite the income, she says she's ready to walk away.
<h2 class="wp-block-heading">Success Didn't Cure the Burnout</h2>
&#8220;The job is boring. It's not stimulating at all,&#8221; she wrote in a <a href="https://www.reddit.com/r/careeradvice/comments/1k8rrlb/no_hate_onlyfans_model_looking_to_switch_careers/">Reddit post</a> that went viral with thousands of comments. &#8220;It's hard to date with it and I miss being social. I live alone and work from home and have no coworkers.&#8221;
Her story hit a nerve with many.
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She explained that she <a href="https://www.benzinga.com/startups/24/11/41781866/kevin-oleary-claims-you-have-to-work-25-hours-a-day-for-him-business-is-simple-you-either-make-money">worked nonstop through her early twenties</a>, graduating with honors by 21 thanks to dual enrollment programs and college classes taken in high school. But when it came time to start a career, she said she hit a wall. Employers wouldn't hire her for entry-level roles, saying she was overqualified. Others told her she didn't have enough experience.
&#8220;I applied to thousands and thousands of jobs and I never could land one,&#8221; she wrote. Eventually, she took a job that paid just $30,000 a year and worked night shifts at restaurants to survive. &#8220;I worked about 80+ hours a week. I couldn't sustain it.&#8221;
That led her to OnlyFans. She didn't have a big social media following and avoided explicit content, but she found success producing niche fetish content. She now runs over 10 platforms, does her own marketing, <a href="https://www.benzinga.com/money/expense-tracker">tracks expenses</a>, and manages her business alone.
&#8220;It took years to build a following and I don't think anyone has any clue how hard it actually is,&#8221; she said. &#8220;99% of women make less than $100 a month on OF.&#8221;
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Even with her success, she says the work is isolating and emotionally draining. She wants to move on but doesn't want to take a financial hit. Her goal is to <a href="https://www.benzinga.com/partner/general/24/07/39837486/take-these-5-steps-to-get-a-6-figure-tech-salary-in-2024">find a job that pays six figures</a>, offers some freedom and flexibility, and ideally lets her work from home.
She floated real estate as an option, saying it could let her be social but still work independently. She also noted her experience in sales and digital marketing.
<h2 class="wp-block-heading">Reddit Weighs In on Her Career Dilemma</h2>
The responses to her post were mixed.
Some praised her as a self-made entrepreneur who essentially runs a solo digital marketing firm. &#8220;You don't have to say you were a model on OnlyFans. The job was the marketing, the financial management, the endless paperwork you had to file to be&#8230; a small business owner,&#8221; one former career coach wrote.
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Others pointed her toward sales jobs in tech, pharmaceuticals, or luxury vehicles, where strong communication and hustle can pay off fast. Some said she should launch her own agency to help other content creators grow.
One Redditor summed it up like this: &#8220;You already know what it takes to build something. Go build something you&#8217;re passionate about.&#8221;
Still, many reminded her that jobs offering $100,000 with no direct experience are rare. She may need to take a short-term pay cut to gain long-term career satisfaction.
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She Earns $130K On OnlyFans And Has A Master's Degree In Business. Still, She's Looking To Switch Careers Because 'The Job Is Boring'

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