ProFrac Holding (NASDAQ:ACDC) Azioni

ProFrac Holding

ProFrac Holding Corp is engaged in providing hydraulic fracturing, completion services, and other complementary products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. Its operations are focused in West Texas, East Texas/Louisiana, South Texas, Oklahoma, Uinta, and Appalachian. The company operates in three segments: Stimulation Services, Proppant Production, and Manufacturing. Stimulation services, which generate the majority of the revenue for the company operate a fleet of mobile hydraulic fracturing units and other auxiliary equipment that generates revenue by providing stimulation services.

ProFrac Holding Corp. - Class A Common Stock

ProFrac Holding Corp

ProFrac Holding Corp Warrants (09/11/2023)

<ul>
<li>A Bubblemaps report has suggested that the Official Melania Meme team is kicking holders while they are down.</li>
<li>The recent report has put the spotlight back on MELANIA and LIBRA architect Hayden Davis.</li>
<li>Bubblemaps has warned that more pain may be coming for MELANIA token holders at the hands of insiders.</li>
</ul>
From ethical to tokenomics concerns, Official Melania Meme, the Solana memecoin backed by first lady Melania Trump, just like OFFICIAL TRUMP, the Solana memecoin launched by President Donald Trump, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43078040/trump-coin-tanks-36-even-as-melania-trump-launches-her-own-token-top-analyst-says-his-short-is-going-very-very-well">raised several red flags when it launched</a>.
Fast-forward months and these concerns have been more or less validated as the coin trades 96% below its all-time high, and insiders continue to dump on holders.
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<h2 class="wp-block-heading">MELANIA Team Quietly Cashing Out Millions In Community Funds</h2>
The Official Melania Meme team is kicking token holders while they are down.
On Monday, blockchain data provider Bubblemaps <a href="https://x.com/bubblemaps/status/1909304949160165530?t=y7xJ1NYwkRsCQ5gTNeMYZQ&amp;s=19">reported</a> that the token with the ticker MELANIA was facing &#8220;huge sell-offs&#8221; as the team behind the project quietly siphoned millions from the community fund.
Crypto projects typically set aside community funds for everything from ecosystem development to community incentivization programs. But Bubblemaps suggests that members of the MELANIA team appear to be using the project&#8217;s community fund as a personal piggy bank.
According to the blockchain data provider, MELANIA team members have moved 50 million tokens worth approximately $30 million from the project&#8217;s community fund. Splitting the tokens across multiple addresses, $3 million worth of tokens have made it to exchanges, with $500,000 worth of tokens confirmed sold.
Trending: If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?
Just over a week ago, Bubblemaps <a href="https://x.com/bubblemaps/status/1905600617612968258?t=uF3QmVxO3TMSYYtw7czfkw&amp;s=19">highlighted</a> a $2 million extraction from MELANIA&#8217;s liquidity pools, with $1 million sent to exchanges. In this instance, the firm squarely pointed the finger at Hayden Davis.
Davis is widely seen as the mastermind behind MELANIA and the Argentine President Javier Milei-backed LIBRA token. According to Bubblemaps, wallets tied to Davis moved $1 million worth of MELANIA tokens via single-sided liquidity, the same tactic he infamously used <a href="https://www.benzinga.com/25/02/43839293/entitied-tied-to-libra-token-creator-reportedly-removed-99-million-in-liquiditytraders-lost-over-250-million-in-scam">to extract $100 million in liquidity from LIBRA</a>.
&#8220;Hayden may have seen the recent drop in attention as a window to quietly move funds while fewer people were watching,&#8221; the blockchain data provider wrote at the time.
Davis&#8217; involvement with LIBRA has put him under significant scrutiny, with one Argentine lawyer <a href="https://in.benzinga.com/news/global/25/03/44296984/libra-token-fallout-argentine-lawyer-demands-extradition-of-project-creator-from-us">seeking an Interpol red notice</a> for the controversial crypto entrepreneur&#8217;s arrest and extradition.
The recent MELANIA sales are concerning, as Bubblemaps highlights that wallets tied to the team control 92% of the token supply.
&#8220;The damage isn&#8217;t done yet,&#8221; the firm warned.
See Also: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
Unsurprisingly, the recent report of Illicit MELANIA token sales has sparked mixed reactions. While some appear unsurprised, others have gone as far as asking that the first lady be made to answer for her role in the grift.
<a href="https://twitter.com/jynxbt/status/1909465356906693031?t=76s9LSSGVaaxuT_rmWc8XA&amp;s=19">https://twitter.com/jynxbt/status/1909465356906693031?t=76s9LSSGVaaxuT_rmWc8XA&amp;s=19</a>
Despite the many concerns, MELANIA still appears to have several thousand holders. Specifically, data from Solana blockchain explorer Solscan <a href="https://solscan.io/token/FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P">shows</a> that the token has over 245,000 holders.
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Personal Finance

Melania Trump's Memecoin Sees Huge Sell-Offs As Team Quietly Cashes Out Millions In Community Funds

Economist and gold advocate Peter Schiff is back with sharp criticism of both Bitcoin and President Donald Trump's latest economic policies. On Monday, Schiff said the newly formed <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44423999/peter-schiff-says-strategic-bitcoin-reserve-is-a-scam-to-lure-americans-into-buying-more-crypto">Strategic Bitcoin Reserve</a> has already lost more than 12% of its value since it was created on March 6. He argued that if the government had opted to invest in gold instead, the reserve would be showing a 2% gain.
<h2 class="wp-block-heading">Bitcoin Loss, Gold Gain</h2>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A month ago on Mar. 6th, Trump established the Strategic Bitcoin Reserve. So far, the value of the Bitcoin held in that reserve has declined by over 12%. Had the U.S. sold it and added to our gold reserve, not only would we have avoided that loss, but we would now have a 2% gain.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1909361122269938074?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
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"A month ago on Mar. 6th, Trump established the Strategic Bitcoin Reserve," Schiff <a href="https://x.com/PeterSchiff/status/1909361122269938074">posted</a> on X. "So far, the value of the Bitcoin held in that reserve has declined by over 12%. Had the U.S. sold it and added to our gold reserve, not only would we have avoided that loss, but we would now have a 2% gain."
When a user pushed back, asking about the trillions lost when the U.S. sold Bitcoin years ago, Schiff replied, &#8220;That&#8217;s irrelevant, as we didn&#8217;t have a Strategic Bitcoin Reserve years ago. We can only count how much money the government gains or loses going forward of the reserve.&#8221;
Last month, Schiff warned that the Strategic Bitcoin Reserve is <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44423999/peter-schiff-says-strategic-bitcoin-reserve-is-a-scam-to-lure-americans-into-buying-more-crypto">being used to lure in</a> unsuspecting investors. &#8220;The crypto industry is using the Strategic Bitcoin Reserve to scam more Americans into buying crypto. Thanks to Trump, more Americans will lose more money in crypto than in any prior speculative mania in history.&#8221; He mentioned the $TRUMP meme coin as a &#8220;perfect example,&#8221; saying it was already down over 80%.
Trending: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.55 per share now</a>.
<h2 class="wp-block-heading">Tariffs &#8216;Dumber&#8217; Than Bitcoin Reserve</h2>
Schiff didn't stop with Bitcoin. He also took aim at Trump's new round of tariffs, <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44670683/peter-schiff-says-trumps-tariffs-are-dumber-than-a-strategic-bitcoin-reserve">calling them an even worse idea</a>. &#8220;Tariffs are worse. Doing nothing would be less harmful than what Trump is doing,&#8221; Schiff <a href="https://x.com/PeterSchiff/status/1909065989179736362">said</a>.
He argued that the crypto market has been trending downward when measured in gold and <a href="https://x.com/PeterSchiff/status/1909170751669776822">warned</a> that Ethereum could fall below $1,000, a level it last saw in June 2022. At the time of writing, the price is $1,463. Despite pushback from crypto traders highlighting the technology and ecosystem growth, Schiff stuck to his stance: over the past three-and-a-half years, Bitcoin has lost more than 30% of its value in gold terms.
<h2 class="wp-block-heading">Why Nike Won't Bring Jobs Back</h2>
Schiff also weighed in on how Trump's tariffs could affect major American brands. In a post last week, he said <a href="https://www.benzinga.com/markets/equities/25/04/44640220/peter-schiff-says-nike-wont-build-factories-in-us-they-will-sell-to-countries-like-china-a-much-better-strategy-amid-trump-tariffs">Nike won't be shifting manufacturing back</a> to the U.S. despite steep new tariffs.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Nike won&#39;t build factories in the U.S. to make sneakers. That would add more cost than the 40% tariffs. Plus, they need to stay competitive selling to customers in other countries that don&#39;t impose tariffs. The result will be fewer sneakers sold in the U.S. at much higher prices.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1907812445260800264?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
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"Nike won&#8217;t build factories in the U.S. to make sneakers. That would add more cost than the 40% tariffs," he <a href="https://x.com/PeterSchiff/status/1907812445260800264">wrote</a>. &#8220;They will eventually sell more sneakers to consumers in other countries instead, as they buy what Americans can no longer afford.&#8221;
Nike's stock dropped over 17% after Trump announced the new tariffs. Countries like Vietnam and Indonesia—where Nike makes a large portion of its products—were hit with tariff increases of up to 46%.
Schiff says that higher costs and shrinking U.S. sales will force companies like Nike to look elsewhere for growth. "The result will be fewer sneakers sold in the U.S. at much higher prices," he warned.
As markets continue to react to the administration's policies, Schiff has positioned himself as a loud critic, arguing that both the Bitcoin reserve and tariff strategy are costly missteps.
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News

Peter Schiff Says Trump's Strategic Bitcoin Reserve Is Already Down 'Over 12%,' Claims If We'd Bought Gold Instead, We'd Be Up 2% Right Now

Kimbal Musk, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) board member and brother of CEO Elon Musk, has gone public with sharp criticism of President Donald Trump&#8217;s trade policies, calling tariffs a &#8220;structural, permanent tax on the American consumer&#8221; and accusing Trump of celebrating economic self-sabotage.
<h2 class="wp-block-heading">Kimbal Questions U.S. Strategy of Self-Inflicted Economic Harm</h2>
&#8220;Mmm.. Celebrating causing China&#8217;s stock market to go down, by causing our own stock market to go down? Maybe this is why Trump brought back the R word.&#8221; Kimbal <a href="https://x.com/kimbal/status/1909304585019105540">posted</a> on X, in response to a message from Trump touting the impact of U.S. tariffs.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Mmm.. Celebrating causing China&#39;s stock market to go down, by causing our own stock market to go down? Maybe this is why Trump brought back the R word. <a href="https://t.co/uTBXwDry74">https://t.co/uTBXwDry74</a>
&mdash; 
</blockquote></div></figure>

TSLA

Elon Musk's Brother Kimbal Blasts Trump: 'Celebrating Causing China's Stock Market To Go Down, By Causing Our Own Stock Market To Go Down?'

Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) has begun testing an artificial intelligence–powered search engine that enables subscribers to find movies and TV shows based on their emotions, preferences, or specific situations.
What Happened: The feature, powered by OpenAI technology, is currently available to select users in Australia and New Zealand using iOS devices. Netflix says the test will expand to additional markets, including the U.S., in the coming weeks, <a href="https://www.bloomberg.com/news/articles/2025-04-11/netflix-tests-new-ai-search-engine-to-recommend-shows-movies">reported</a> Bloomberg.
The streaming giant has long used machine learning and AI to <a href="https://www.benzinga.com/news/24/07/39822614/disney-develops-tech-to-rival-netflix-and-boost-streaming-profits-report">power its recommendation</a> algorithm, but this new tool marks a significant expansion in user-facing AI features.&nbsp;
See Also: <a href="https://www.benzinga.com/general/entertainment/25/03/44428025/netflix-to-launch-first-mmo-video-game-is-it-the-streaming-companys-biggest-gaming-bet-yet">Netflix To Launch First MMO Video Game: Is It The Streaming Company&#8217;s Biggest Gaming Bet Yet?</a>
Unlike the current search tool, which relies on basic inputs like actor names or genres, the&nbsp;
Subscribers must opt in to test the new tool, a departure from Netflix's usual practice of quietly rolling out new features, the report noted.
Why It Matters: Netflix&#8217;s viewership <a href="https://www.benzinga.com/25/04/44662003/netflix-seen-as-safe-bet-amid-market-volatility-says-analyststrong-value-digital-model-make-it-recession-ready">jumped by almost 8%</a> in the first quarter of 2025, reflecting solid gains in both subscriber count and revenue.
Although the stock trades at a premium, analysts believe the current consensus forecasts are modest, justifying a $1,000 price target based on a 33x multiple of projected 2026 earnings.
Last year, Netflix co-CEO Ted Sarandos said that <a href="https://www.benzinga.com/news/24/05/39026759/netflixs-ted-sarandos-dismisses-ai-threat-to-writers-actors-directors-ai-is-not-going-to-take-your-j">AI is unlikely to take over</a> the creative roles of writers, actors, and directors within the entertainment industry.&nbsp;
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.
&#8220;I don't believe that an AI program is going to write a better screenplay than a great writer, or is going to replace a great performance, or that we won't be able to tell the difference,&#8221; he stated.
The streaming company has previously <a href="https://www.benzinga.com/23/07/33424040/netflix-faces-backlash-an-exploration-into-its-controversial-900-000-ai-job-offer-amid-a-surprising">drawn criticism after posting</a> a machine learning product manager position with a striking annual salary range of $300,000 to $900,000.
Price Action: So far this year, Netflix shares are up 3.56%, while they&#8217;ve surged 47.44% over the past 12 months, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga Edge's Stock Rankings award Netflix a strong growth score of 69.69%. Want to see how it compares to other stocks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for the full breakdown</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo courtesy: Shutterstock

Entertainment

Tech

NFLX

Netflix Debuts OpenAI-Backed Search Engine That Lets You Discover Movies And TV Shows Based On Emotions, Not Just Titles

Despite aggressive cost-cutting by the Department of Government Efficiency, federal spending has reportedly climbed by $154 billion since President Donald Trump returned to office,
What Happened: Government spending is significantly higher under Trump's second term compared to the same period in 2024 under President Joe Biden, <a href="https://www.wsj.com/politics/policy/trump-doge-government-spending-increases-5903992d?mod=politics_lead_pos4">according</a> to the analysis by the Wall Street Journal, citing the Treasury Department&#8217;s daily financial statements.
The increase—$154 billion—comes even as the Department of Government Efficiency (DOGE), led by Elon Musk, <a href="https://www.benzinga.com/25/04/44759007/did-elon-musk-just-lower-doges-1-trillion-savings-target-to-150-billion-in-a-second-revision-since-jan">touts $150 billion in cost savings</a> through job cuts, contract terminations, and the rollback of diversity and aid programs.
&#8220;I&#8217;m excited to announce that we anticipate savings in &#8217;26 from reduction of waste and fraud by $150 billion,&#8221; Musk said during Thursday&#8217;s cabinet meeting, referring to the period from October 2025 to September 2026.
Most of the spending increase is driven by mandatory obligations like Social Security, Medicare, Medicaid, and ballooning interest payments on the national debt.
See Also: <a href="https://benzinga.com/25/04/44754349/bitcoins-final-crash-peter-schiff-predicts-2025-crisis-will-end-what-2008-created" target="_blank" rel="noreferrer noopener">Bitcoin's Final Crash? Peter Schiff Predicts 2025 Crisis Will End What 2008 Created</a>
Social Security costs alone are up $32.7 billion, fueled by 1.3 million new beneficiaries and a 2.5% cost-of-living adjustment.
Medicare and Medicaid spending has risen another $29 billion since Jan. 20 due to enrollment growth and rising healthcare costs.
Meanwhile, interest payments on the national debt have soared by $25.5 billion, a result of higher interest rates and increasing federal borrowing.
Musk, who has warned that interest costs could eventually consume the entire federal budget, has made trimming government inefficiencies a top DOGE priority—but the numbers so far suggest minimal bottom-line impact, the report said.
"I think the net effect of DOGE on federal spending, at least insofar as we can track it in the daily Treasury statement, has been pretty small," said Don Schneider, deputy head of U.S. policy at Piper Sandler, according to the report.
"It will take time for those savings to accumulate, but it will also be dependent on the administration prevailing in court over some of these actions."
Why It Matters: The data complicates the administration's messaging around fiscal responsibility. While Musk and DOGE have aggressively cut thousands of federal jobs, ended diversity programs, and sought to <a href="https://www.benzinga.com/news/25/03/44156631/elon-musks-doge-team-has-door-slammed-on-it-at-africa-aid-agency-amid-raging-turf-war">scale back foreign aid</a>, these efforts have been met with <a href="https://www.benzinga.com/news/25/02/43768756/privacy-concerns-emerge-as-elon-musks-doge-team-seeks-access-to-taxpayer-data">legal setbacks and limited short-term</a> savings.
Litigation over the firing of 25,000 probationary employees is ongoing, and some of those <a href="https://www.benzinga.com/general/social-media/25/02/43579276/elon-musk-plans-reinstatement-of-doge-employee-fired-over-social-media-posts">workers have been reinstated</a>. Foreign aid cuts were temporarily blocked by the Supreme Court in March, and spending has since rebounded to near-2024 levels.
DOGE has seen small wins—like a $4 billion drop in <a href="https://www.benzinga.com/markets/25/03/44271318/us-department-of-education-to-slash-nearly-2000-jobs-as-trump-moves-closer-to-shutting-it-down">Education Department spending</a> and cost delays at the TSA—but these have yet to materially shift overall expenditures.
In fact, federal salary payments are $2.8 billion higher than a year ago, partly due to a 2% raise approved under Biden and ongoing payments to employees who accepted buyouts.
Bank of America (BofA) Securities previously suggested that DOGE may be exaggerating its reported savings from canceled or renegotiated contracts. As of March 30, DOGE claimed it had saved around $24.8 billion—up from $21.6 billion the previous week—through these efforts.
Read More:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Government

Politics

Elon Musk's Government Efficiency Push Falls Short As Treasury Data Shows Spending Up Sharply Since Trump's Inauguration: Report

As <a href="https://www.benzinga.com/interview/25/03/44539183/exclusive-tesla-protest-organizer-says-elon-musk-seems-to-have-purchased-the-american-government">the backlash against</a> Elon Musk intensifies, a record number of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) owners are rushing to offload their vehicles, flooding the used market and driving prices down.
What Happened: The used car market saw a record surge in Tesla listings in March, with over 13,000 used Teslas posted for sale on Autotrader, according to Cox Automotive, <a href="https://www.businessinsider.com/used-tesla-listings-record-high-march-elon-musk-protests-2025-4">reported</a> Business Insider.
That marks a 67% year-over-year increase and comes amid nationwide protests dubbed the &#8220;Tesla Takedown,&#8221; which targeted Musk's growing political affiliations — including <a href="http://benzinga.com/markets/25/03/44242181/elon-musk-admits-juggling-between-tesla-doge-is-difficult-says-running-businesses-with-great-difficulty-a">his role as head of</a> DOGE and close ties to the Donald Trump administration.
See Also: <a href="https://www.benzinga.com/markets/25/04/44584934/elon-musks-father-defends-tesla-says-son-is-doing-the-right-thing-and-the-stock-would-recover-to-600-by-2025-end-heres-what-analysts-think-about-tsla">Elon Musk&#8217;s Father Defends Tesla, Says Son Is &#8216;Doing The Right Thing&#8217; And The Stock Would Recover To $600 By 2025 End: Here&#8217;s What Analysts Think About TSLA</a>
A Cox Automotive spokesperson told the publication that the spike in listings is being driven by two main factors: Tesla's massive growth between 2021 and 2023, which naturally feeds into the used market now, and Musk's increasingly polarizing public image.
"We cannot ignore the influence of Elon Musk's new high-profile job as DOGE boss and presidential confidant. That is certainly influencing some owners and buyers," the spokesperson said.
Stephanie Valdez Streaty, director of industry insights at Cox Automotive, said that Musk's political and public persona is creating &#8220;significant challenges&#8221; for Tesla, compounding issues like rising competition and an aging vehicle lineup.
Why It Matters: The surge in used Tesla inventory is weighing on prices. According to CarGurus, the average used Tesla now sells for about $10,000 less than other electric vehicles, the report noted.
Tesla is trying to regain momentum with two major launches this year: a <a href="https://www.benzinga.com/government/regulations/25/03/44330619/tesla-bets-on-low-cost-evs-in-china-after-february-sales-hit-two-year-low">more affordable EV model</a> expected in the first half and a <a href="https://www.benzinga.com/25/03/44392619/elon-musks-tesla-secures-first-approval-towards-rolling-out-robotaxi-in-california">robotaxi service</a> slated to debut in Austin, Texas, in June.
According to a Cox Automotive report, the U.S. EV market saw a <a href="https://www.benzinga.com/25/04/44755934/us-q1-ev-sales-data-shows-106-yoy-growth-tesla-experiences-decline-but-still-dominates-domestic-ev-sales">10.6% year-over-year growth</a> in the first quarter of 2025, although Tesla experienced a decline.
Despite this, Tesla remains a dominant force in the domestic EV market. Despite an 8.6% drop in sales year over year, Tesla still leads the segment with a commanding 43.5% market share.
<a href="https://www.benzinga.com/25/04/44728787/tesla-to-make-saudi-arabia-debut-amid-infrastructure-challenges">Tesla&#8217;s expansion</a> into new markets, such as Saudi Arabia, highlights its global ambitions despite challenges in Europe. However, a new consumer survey in March revealed that Musk is making Americans <a href="https://www.benzinga.com/trading-ideas/25/03/44572341/elon-musk-has-55-unfavorable-rating-in-new-poll-how-tesla-ceo-could-be-hurting-ev-giants-future-sales">less inclined to purchase</a> a new Tesla.
According to <a href="https://www.benzinga.com/quote/TSLA">Benzinga's Proprietary Edge Rankings</a>, Tesla holds a momentum rating of 90.20% and a growth rating of 67.67%. For more stock insights and growth opportunities, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">subscribe to Benzinga Edge</a>.
The consensus price target for Tesla is $299.99, based on evaluations from 29 analysts. Benchmark set the highest target at $475 on Feb. 12, while GLJ Research gave the lowest at $24.86 on the same day. The three latest price targets from UBS, Mizuho, and Benchmark average around $305, indicating a potential upside of 20.58%, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/quote/TSLA"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/12034019/Screenshot-2025-04-12-at-1.10.13%E2%80%AFPM.png" alt="" class="wp-image-868827" style="width:526px;height:auto" /></a></figure>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Markets

Elon Musk's Political Fallout Fuels Record Dump of Used Tesla Cars — Now Selling For Thousands Below Market Value

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) have reportedly decided to invest in the artificial intelligence startup co-founded by former OpenAI <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">chief scientist</a> Ilya Sutskever.
What Happened: The specific terms of Nvidia's and Alphabet's investments in Safe Superintelligence (SSI) have not been disclosed, reported Reuters, citing a source familiar with the matter.
Earlier this week, Alphabet's cloud division signed an agreement to provide SSI with access to its custom-built AI chips, known as tensor processing units (TPUs).
See Also:&nbsp;<a href="https://benzinga.com/news/global/25/04/44777274/kevin-oleary-says-xi-jinping-is-playing-with-fire-if-this-gamble-doesnt-pay-off" target="_blank" rel="noreferrer noopener">Kevin O&#8217;Leary Says Xi Jinping Is &#8216;Playing With Fire:&#8217; &#8216;If This Gamble Doesn&#8217;t Pay Off…&#8217;</a>
While TPUs were initially reserved for internal use only, Google is now scaling up external sales of these chips to support advanced AI research, the report noted, citing Darren Mowry, a managing director overseeing Google's startup collaborations
Traditionally, AI developers have leaned on Nvidia's GPUs, which dominate the AI chip market with an over 80% share. However, according to two individuals familiar with the matter, SSI is largely relying on Google's TPUs over GPUs for its AI work.
Google Cloud currently provides access to both Nvidia GPUs and its own TPUs. These proprietary chips are already instrumental in training major AI models — including those from Anthropic, a key OpenAI rival supported by billions in funding from both Google and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
Meanwhile, Amazon has entered the <a href="https://www.benzinga.com/media/24/12/42356920/amazon-halts-inferentia-ai-chip-development-to-take-on-nvidia-how-trainium-is-shaping-up-to-be-the-new-weapon-in-ai-chip-wars">fray with its own chips</a> — Trainium and Inferentia — aimed at competing in the AI infrastructure space. As early as 2023, the company disclosed that Anthropic would build its systems using Amazon's chips.
In December, Amazon unveiled a supercomputer powered by hundreds of thousands of its in-house processors, with Anthropic as its inaugural user.
Despite these developments, sources say Anthropic continues to actively use Google's TPUs and hasn't cut back on its investments in them, the report said.
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 Matters: The trend of cloud giants investing in AI startups that not only develop foundational models but also act as infrastructure clients is gaining momentum.
Amazon and Google have both backed Anthropic, while Microsoft has made major investments in OpenAI. Nvidia, meanwhile, supports both OpenAI and Elon Musk's xAI venture.
SSI, which has reached a reported <a href="https://www.benzinga.com/tech/25/02/43772135/ex-openai-chief-scientist-ilya-sutskevers-ai-startup-valued-at-30-billion-in-latest-funding-round-report">valuation of $32 billion</a> in a funding round led by Greenoaks, has quickly become one of the most closely watched companies in the AI space.
Meanwhile, Mira Murati, another former OpenAI executive, is also reportedly seeking to raise a <a href="https://www.benzinga.com/media/25/04/44756971/former-openai-cto-mira-murati-targets-record-breaking-2-billion-seed-round-for-new-ai-startup">record-breaking $2 billion</a> for her new AI venture, Thinking Machines Lab.
Amazon boasts an impressive growth score of 94.18%, according to Benzinga Edge Stock Rankings. You can compare this with companies like Nvidia, Alphabet, and <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">others by clicking here</a>.
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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: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AMZN

GOOG

GOOGL

NVDA

Nvidia, Alphabet To Back OpenAI Co-Founder Ilya Sutskever's New AI Startup Safe Superintelligence: Report

Billionaire entrepreneur Mark Cuban grew up in a middle-class family, which helped him learn the value of independence and a <a href="https://www.benzinga.com/general/education/24/10/41222013/it-wasnt-anything-horrific-how-12-year-old-mark-cuban-developed-tough-skin-to-reach-billionaire">strong work ethic early on</a>.
When looking for employees, Cuban said there are two qualities he looks for in people that could be more important than talent alone.
What Happened:&nbsp;During a recent MasterClass course, Cuban shared the &#8220;two things that matter the most&#8221; for potential job candidates.
The &#8220;Shark Tank&#8221; judge told&nbsp;<a href="https://www.cnbc.com/2024/03/07/mark-cuban-looks-for-these-qualities-when-hiring-new-employees.html" target="_blank" rel="noreferrer noopener">CNBC</a>&nbsp;that culture and competency are the two most important qualities.
&#8220;Are they competent enough to do the job? And do they fit in the culture of the organization? If they fail on either one, you&#8217;re going to be in trouble,&#8221; Cuban said.
Culture is more important than a person&#8217;s raw talent, Cuban argues.
The act of hiring employees who don&#8217;t fit a company&#8217;s culture is &#8220;probably the biggest mistake I&#8217;ve seen my portfolio companies (make)," he added.
Cuban looks for employees and partners who &#8220;complement&#8221; him and his skills, not just having the same skills and ideals. And he doesn&#8217;t mind having partners and employees who aren&#8217;t afraid to disagree with him.
&#8220;I think one of the biggest problems and entrepreneur (or) CEO can make is they hire people who are like them," he said. "You don&#8217;t need to hire people like you. You&#8217;ve got you.&#8221;
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Why It&#8217;s Important:&nbsp;Cuban also shared potential interview questions, which could help employers find the right candidates:
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<li>What&#8217;s one thing you&#8217;ve failed at and one thing you&#8217;ve succeeded at?</li>
<li>Tell me about a time you took a chance at work.</li>
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<li>What&#8217;s the best culture of a company that you&#8217;ve ever worked in?</li>
<li>Who&#8217;s the best manager you&#8217;ve ever worked for?</li>
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&#8220;I want to get them talking about their positive or negative experiences, so I can understand whether or not they&#8217;re going to be a fit,&#8221; Cuban said.
You may not be a billionaire like Mark Cuban, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/trading-ideas/25/03/44546189/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-59">check out five stocks flying under the radar that deserve your attention.</a>
This article was previously published by Benzinga and has been updated.
Image: Shutterstock

Education

Entrepreneurship

Startups

Small Business

General

Mark Cuban Wants Employees Who 'Complement' Him: These Are The Two Skills He Looks For

<ul>
<li>On Monday, Colossal Biosciences announced that it had successfully created three dire wolf puppies</li>
<li>The biotechnology and genetic engineering company received a $10.2 billion valuation, placing it in the "decacorn club</li>
<li>This resurrection achievement is a massive step in validating that valuation</li>
</ul>
Colossal Biosciences, a biotechnology and genetic engineering company that focuses on de-extinction, announced Monday that it had successfully resurrected the dire wolf, <a href="https://www.cnn.com/2025/04/07/science/dire-wolf-de-extinction-cloning-colossal/index.html">CNN</a> reports. In January, the company secured $200 million in Series C funding, <a href="https://www.benzinga.com/general/biotech/25/01/42999856/colossal-joins-ranks-of-spacex-openai-with-10-2-billion-valuation">earning it a valuation of $10.2 billion</a>. This price tag places it in the elite "decacorn" club, the nickname given to privately held companies with valuations north of $10 billion.&nbsp;
Founded in 2021, the company's banner project is bringing back the woolly mammoth, the large prehistoric elephant-like creature that roamed millions of years ago. While there is still quite a ways to go before that goal is accomplished, <a href="https://time.com/7264043/colossal-biosciences-woolly-mouse-bring-back-mammoth/">Time</a> reported that the company is making notable progress and has successfully bred woolly mice.&nbsp;&nbsp;
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And while plenty doubt the company's ability to actually resurrect the woolly mammoth and thereby prove their valuation, Colossal Biosciences just took a major step in proving them wrong.
The dire wolf was a top predator that once roamed North America. Larger in size than modern grey wolves, thes carnivores died out some 12,500 years ago. Now, Ben Lamm, Colossal's CEO and co-founder, told CNN the company used DNA from a 13,000-year-old tooth and a 72,000 year old skull to make healthy dire wolf puppies. "This massive milestone is the first of many coming examples demonstrating that our end-to-end de-extinction technology stack works," he said.&nbsp;
The three puppies, which were carried by domestic dog surrogates, are living on an undisclosed&nbsp; 2,000-acre site. Their habitat is enclosed by 10-foot tall zoo grade fencing, and they are continuously monitored by security personnel, drones, and live camera feeds. Their living space has reportedly been certified with the American Humane Society and registered with the U.S. Department of Agriculture.
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Prior to the announcement, Colossal had not publicized its work on the dire wolf. Perhaps, this was in part because it was worried about the criticisms the project may have garnered. Christopher Preston, a professor of environmental philosophy at the University of Montana, discussed the concerns people have had about Colossal's work with CNN, namely that the money it's investing could be better used elsewhere and that these resurrected animals could imperil existing species.
"Colossal have taken thoughtful precautions to screen against any unintended genetic consequences of their edits, eliminating risky edits known to be associated with poor outcomes," he said. "It is hard to imagine dire wolves ever being released and taking up an ecological role. So, I think it is important to ask what role the new animals will serve."
For its part, Colossal also hopes that the technologies it has developed can be used to directly help endangered species. So far, the company told CNN, it has used the less invasive cloning processes it developed during its dire wolf research to produce two litters of red wolves, the most critically endangered wolf species.&nbsp;
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De-Extinction Company Colossal Biosciences Has Resurrected the Dire Wolf, Validating Its $10.2 Billion Valuation

Anthony Scaramucci, the&nbsp;former White House communications director, has suggested that nations will counteract against the U.S. in response to President Donald Trump&#8216;s contentious tariff impositions.
What Happened: Scaramucci opines that countries like China&nbsp;are banking on the U.S.&nbsp;to rein in Trump until they can &#8216;break&#8217; him. This comes in light of Trump&#8217;s ongoing trade war, which has sent ripples through the global economy and stock market within a week.
Scaramucci proposed that nations should counter the U.S. by levying their own tariffs, thereby nudging Trump&#8217;s allies towards the Democratic Party. 
&#8220;We&nbsp;have this new manifestation of&nbsp;an ogre that's out of&nbsp;control. And I think the&nbsp;right way to handle him&nbsp;is what the Chinese and&nbsp;the Canadians are doing, which&nbsp;is, &#8220;No&nbsp;problem. We're going to lock&nbsp;in the cockpit with you&nbsp;until we break you,&#8221; Scaramucci stated in the "The Rest is Politics" <a href="https://www.youtube.com/watch?v=HBbO2SStM30">podcast</a>.
Trump&#8217;s tariff announcement last week sparked global unrest, compelling leaders to react to his expensive import levies. In retaliation, Trump put a 90-day hold&nbsp;on most of his tariffs. However, he intensified&nbsp;the trade war with China&nbsp;by imposing a 145% tax.
Also Read: <a href="https://www.benzinga.com/news/25/04/44658808/scaramucci-on-tariffs-there-is-stupid-and-then-there-is-donald-trump-stupid">Scaramucci on Tariffs: &#8216;There Is Stupid and Then There Is Donald Trump Stupid&#8217;</a>
"They're making the bet that the U.S. system will absorb Donald Trump. Meaning, there's still enough checks and balances in the system. There's still enough wise people, the Rand Pauls, the John Kennedys of Louisiana, the Tom Emmers, that will say, ‘OK, guy, we're going to now caucus with the Democrats because we need to save the system from your insanity,&#8221; Scaramucci added.
Scaramucci said that he is confident Trump&#8217;s actions will lead to his downfall. 
&#8220;It&nbsp;will break him. Unless you're&nbsp;telling me the US system&nbsp;is going to collapse because&nbsp;of one orange human being,&nbsp;then okay, but I'm for&nbsp;breaking him, because he is&nbsp;perversely bad for the system.&nbsp;He's bad for the United&nbsp;States, and he's bad for&nbsp;the global economy,&#8221; he concluded.
Why It Matters: Scaramucci&#8217;s prediction underscores the potential global backlash against Trump&#8217;s trade policies. The escalating trade war has already disrupted the global economy and stock market, and further retaliation could deepen these impacts. 
The shift of Trump&#8217;s allies towards the Democratic Party, as suggested by Scaramucci, could also significantly alter the political landscape in the U.S. 
The potential &#8216;breaking&#8217; of Trump, as foreseen by Scaramucci, could have far-reaching implications for the U.S. and the global economy.
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Image: Shutterstock

Scaramucci Foresees Global Retaliation Against Trump's Trade Policies: 'It Will Break Him'

President Donald Trump slammed the European Union during a joint <a href="https://www.youtube.com/live/0u3_E5LaJ7c">press conference</a> with Israeli Prime Minister Benjamin Netanyahu on Monday, claiming Europe has used unfair rules and regulations to keep American cars out of its markets.
<h2 class="wp-block-heading">Trump Targets European Trade Barriers</h2>
&#8220;They drop a bowling ball on the top of your car from 20 feet up, and if there&#8217;s a little dent, they say, &#8216;No, I&#8217;m sorry, your car doesn&#8217;t qualify,'&#8221; Trump said, describing what he called &#8220;nonmonetary barriers&#8221; that make it nearly impossible for U.S. vehicles to pass European tests.
&#8220;The same car from Germany or any [other country] would dent likewise—unless you&#8217;re going to have an army tank, it&#8217;s going to dent,&#8221; he added.&nbsp;
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&#8220;So they come up with rules and regulations that are just designed for one reason—that you can&#8217;t sell your product in those countries. And we&#8217;re not going to let that happen.&#8221;
According to German news agency <a href="https://nordot.app/1282372704765412334">Deutsche Presse-Agentur</a>, the TÜV SÜD testing authority and the country's KBA motor vehicle authority said that such a test does not exist for dent issues. However, similar tests are used for windshields and uniformly for all vehicles.
A broken windshield is normal and doesn't lead to a failed test, a TÜV SÜD spokesperson told DPA.
Trump said while the U.S. allows droves of European vehicles into the country each year, American automakers face a stacked deck when trying to sell overseas. &#8220;They send millions and millions of cars into the U.S., but we don&#8217;t have a car that&#8217;s been sold to the European Union,&#8221; he said.
He criticized the EU&#8217;s 10% <a href="https://www.benzinga.com/news/25/02/43910177/trumps-tariff-threats-sends-this-industry-into-a-100-billion-bind">tariff on imported American vehicles</a>, compared with the 2.5% the U.S. currently charges on European cars, and said that the current trade structure &#8220;was formed to really do damage to the United States in trade.&#8221;
&#8220;We&#8217;re not going to be the stupid people anymore,&#8221; he said.&nbsp;
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<h2 class="wp-block-heading">Why Don't Europeans Buy American Cars?</h2>
Trump&#8217;s comments come as he implemented a sweeping 20% tariff but also a <a href="https://www.benzinga.com/25/03/44506345/trump-imposes-25-tariffs-on-auto-imports-says-this-will-continue-to-spur-growth-canada-eu-slam-the-move">25% import tariff</a> on steel, aluminum and cars. However, the reasons U.S. cars struggle in Europe go beyond policy.
For instance, there are practical issues at play. Europe&#8217;s historic cities and narrow streets simply aren't built for massive American trucks and SUVs. &#8220;Try to go around Italy in a big SUV. I&#8217;ve done it, and it&#8217;s very difficult,&#8221; car analyst Hampus Engellau told the <a href="https://www.bbc.com/news/articles/cq8kn5v37wxo">BBC</a>.
Fuel efficiency is another factor. Because fuel is more expensive in Europe than in the U.S., drivers tend to choose smaller, more efficient vehicles over large gas-powered ones.&nbsp;
<h2 class="wp-block-heading">The Trade Gap</h2>
In 2022, the EU exported 692,334 cars to the U.S., worth $39 billion, while the U.S. sent just over 116,000 vehicles to Europe, worth about $5.7 billion, according to the BBC. Trump says this imbalance shows the system is broken.
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European brands like BMW, Volkswagen and Mercedes continue to gain ground in the U.S. market, while American brands have pulled back from Europe. Ford Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), for example, has been shifting away from small passenger cars and toward electric and commercial vehicles.
Trump insists tariffs will be key to rebuilding American manufacturing. &#8220;Tariffs will make this country very rich,&#8221; he said. &#8220;We&#8217;re going to bring great trade and we&#8217;re going to be fair to other countries.&#8221;
But even Trump acknowledged that bringing U.S. car production up to speed will take time. &#8220;You&#8217;ve got to build a thing called a factory,&#8221; he said. &#8220;You have to build your energy. You have to do a lot of things.&#8221;
For now, the dispute between the U.S. and Europe on car trade remains unresolved, but the pressure is building on both sides of the Atlantic.
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'They Drop A Bowling Ball On Your Car From 20 Feet Up,' Trump Says, Mocking European Rules That Keep US Cars Out

The recent trade wars have created quite a stir on Wall Street, and some investors are wondering what their next steps should be.&nbsp;
One of those investors is a husband who posted in the Investing subreddit. He's <a href="https://www.reddit.com/r/investing/comments/1judcm4/401k_advice_in_this_market/">seeking advice</a> after his wife's 401(k) lost $12,000 from the market's reaction to tariffs.
"Should we trust the 401(k) management to make the right moves?" the husband asked the community.&nbsp;
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Redditors were quick to comment on the post. Some people offered encouragement, while others scrutinized the husband's desire to retire in five to 10 years.
<h2 class="wp-block-heading">Remain Patient</h2>
Many commenters encouraged the husband to remain patient and wait for the market to recover.
"The most important thing is to not panic and make rash decisions. While this is quite scary, I'm not making any changes," one commenter responded. However, that commenter noticed that they have a 25-year timeframe before it's time for them to retire.&nbsp;
"Leave it alone! It will rebound. Go on about your way and your day, and don't think about it," another commenter suggested.
The stock market has endured many corrections and crashes. It's returned to all-time highs each time. While it's difficult to remain patient during tough times, many investors endured tariffs in 2018. Stocks didn't do well that year but proceeded to rebound sharply in the following year.
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<h2 class="wp-block-heading">Know Your Risk Tolerance</h2>
Before following any piece of advice, it's important to consider who is giving the advice. Someone in their 20s will likely tell you to buy the dip and wait for stocks to recover. However, the advice should be different as an investor gets older.
For instance, the husband said that he and his wife plan to retire in the next five to 10 years. In this scenario, it may make sense to de-risk their portfolio. Instead of investing in high-growth stocks, it may make more sense to invest in blue-chip dividend stocks.
Panic selling isn't the best response, but it's also bad to blindly invest without considering your risk tolerance. The husband seems stressed about a $12,000 dip, and that stress may mean the husband is taking too much risk. However, it's normal for some investors to lose much more than that when the market enters a correction.&nbsp;
Many stocks recover after corrections, especially if their fundamentals are strong. Removing your emotions from the situation and asking if a stock's fundamentals are good can help you decide if it makes more sense to buy, hold, or sell. Most commenters suggested buying the dip, but you have to consider your risk tolerance before making any decisions.
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<h2 class="wp-block-heading">The Couple Isn't Ready To Retire</h2>
One of the top comments came from a Redditor who questioned whether the couple is really ready to retire. A $12,000 loss from the current stock market probably isn't significant enough to warrant a retirement in the next five to 10 years.&nbsp;
"If you lost only $12,000, [it] sounds like you're not that close to retirement. This wouldn't be your first significant drop since investing in your 401(k) either," the commenter stated.
Most of the people who replied to this comment agreed. The only exception is if the couple has enough money coming in from Social Security and pensions to cover their living expenses. The couple may want to focus on pursuing new income streams and advancing in their careers if they want to retire in five to 10 years. If not, it may be best for them to readjust their retirement plans, because you don't want to risk outliving your nest egg.
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A Redditor Seeks Advice After Wife's 401(k) Lost $12,000 From The Trade Wars: 'Should We Trust The 401(k) Management To Make The Right Moves?'

The popularity of Elon Musk has seen a significant downturn, as per a new tracker initiated by polling data analyst Nate Silver.
What Happened: The tracker, which was launched on Friday, indicates that a mere 39.6% of Americans hold&nbsp;a favorable view of Musk,&nbsp;while a majority of 53.5% view him unfavorably.
The tracker has been gathering data since January 2024 and shows a marked decrease in Musk&#8217;s popularity following his endorsement of President Donald Trump in July of the preceding year. Musk&#8217;s popularity suffered another blow after Trump assumed office and Musk launched DOGE, a move perceived as disruptive to American governmental institutions.
Responding to Silver's post on X announcing the tracker, Musk wrote, "The inevitable outcome of having a political propaganda war waged against me while I have almost no countervailing campaign.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The inevitable outcome of having a political propaganda war waged against me while I have almost no countervailing campaign and, at times, digging my own grave way better than my enemies do &#x1f923;&#x1f923;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1910789570796413346?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
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Also Read: <a href="https://www.benzinga.com/news/25/02/43768756/privacy-concerns-emerge-as-elon-musks-doge-team-seeks-access-to-taxpayer-data">Privacy Concerns Emerge As Elon Musk&#8217;s DOGE Team Seeks Access to Taxpayer Data</a>
The unveiling of the tracker comes in the wake of a Rolling Stone report that b underscored the difficulties senior Trump administration figures faced due to Musk&#8217;s behavior. One official likened interacting with Musk to &#8220;listening to really rusty nails&nbsp;on a chalkboard.&#8221;
Why It Matters: The decline in Musk&#8217;s popularity is significant, given his status as a prominent figure in the tech industry and his influence on public opinion. His endorsement of President Trump and the launch of DOGE have been controversial moves that have seemingly impacted his public image negatively. 
The tracker&#8217;s data, which has been collected over a significant period, provides a clear indication of the shift in public sentiment towards Musk.
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Image: Shutterstock

Elon Musk: 'Digging My Own Grave' by Tying Himself to DOGE

<ul>
<li>Billionaire investor Bill Ackman has publicly split with President Donald Trump over tariffs</li>
<li>On Sunday, he posted to X that the tariffs amount to an "economic nuclear war" for the U.S.</li>
<li>Ackman is not the only billionaire to turn on Trump over the tariffs; several others have also vocalized their disapproval of the levies</li>
</ul>
As President Donald Trump's tariffs begin to take effect and their impact on the economy is becoming more evident, billionaires who were once vocal supporters of Trump have begun to turn their backs on him, <a href="https://www.cnn.com/2025/04/07/business/bill-ackman-criticize-trump-tariffs-intl/index.html">CNN</a> reports.&nbsp;
Bill Ackman, the CEO of Pershing Square Capital Management, who <a href="https://x.com/BillAckman/status/1812308245194682749">endorsed</a> Trump in July, is one of the latest billionaires to express his disagreement with the president over his levies. Ackman on Sunday made a lengthy post on <a href="https://x.com/BillAckman/status/1908992002366292286">X</a>, writing that, thanks to Trump's plan, "we are heading for a self-induced, economic nuclear winter, and we should start hunkering down."
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"Business is a confidence game. The president is losing the confidence of business leaders around the globe. The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative. This is not what we voted for," he continued.&nbsp;
Ackman isn't the only wealthy businessman to express displeasure with Trump's new tariffs that range from 10% on all countries to <a href="https://www.cnn.com/2025/04/08/business/trump-china-tariff/index.html">104% on big trading partners like China</a>.&nbsp;
Stanley Druckenmiller, the billionaire founder of the Duquesne Family Office, also took to <a href="https://x.com/StanleyDruckenm/status/1909154734751035410">X</a> on Monday to express his thoughts on the tariffs. In one of only about two dozen posts to his account, he wrote, "I do not support tariffs exceeding 10%."
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Hours later, Ken Fisher, the founder and executive chairman of Fisher Investments, <a href="https://x.com/KennethLFisher/status/1909271920513605773">wrote on X</a>, "What Trump unveiled Wednesday is stupid, wrong, arrogantly extreme, ignorant trade-wise and addressing a non-problem with misguided tools.&nbsp; Yet, as near as I can tell it will fade and fail and the fear is bigger than the problem, which from here is bullish." He followed the initial post with: "I was not much vocal on Biden's errors or Trump's in first term &amp; don't usually go there with any POTUS but on tariffs Trump is beyond the pale by a long shot."
Even Elon Musk, the world's richest man, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO, seems to be opposed to the president's tariff agenda. He told Italian Deputy Prime Minister Matteo Salvini on Saturday in a video-link interview during the far-right League party in Florence that he hoped for a "zero-tariff situation" between the U.S. and the E.U. "At the end of the day, I hope it's agreed that both Europe and the United States should move ideally, in my view, to a zero-tariff situation, effectively creating a free-trade zone between Europe and North America," he said.&nbsp;
Historically, Trump has relied on the support of billionaires like Ackman, who publicly endorsed him throughout the last election cycle, and Musk, who spent an estimated $200 million to help elect him in November. But it remains to be seen whether their displeasure with the decision and their advice against it will sway Trump's decision-making going forward.&nbsp;
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'We Are Heading For A Self-Induced, Economic Nuclear Winter.' Billionaire Investor Bill Ackman Has Turned On Trump Over Tariffs

Ross Gerber, CEO of Gerber Kawasaki Wealth &amp; Investment Management, is openly criticizing President Donald Trump's trade policies. As <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44698697/markets-reverse-gains-as-trumps-104-china-tariff-announcement-rattles-wall-street">markets react</a> to Trump's latest round of tariffs, Gerber says the damage to the U.S. economy is already underway—and could get worse.
&#8220;The stock market doesn't lie. Simplest way to get back to ATH is reverse everything that Trump has done. It's that simple,&#8221; Gerber <a href="https://x.com/GerberKawasaki/status/1909378952608838066">wrote</a> on X. &#8220;Even a rumor sent the market way higher.&#8221;
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<h2 class="wp-block-heading">Tariffs Could Hurt, Not Help</h2>
In a series of posts on April 7, Gerber argued that Trump's aggressive tariff strategy is pushing the economy in the wrong direction.
&#8220;There is no way these tariffs can go into effect without serious damage to the US economy,&#8221; he <a href="https://x.com/GerberKawasaki/status/1909367262747980074">wrote</a>. &#8220;This is basically a crappy way to negotiate. We moved from a position of strength to weakness. Whatever &#8216;deals&#8217; we make would be worse than if this was handled by a professional.&#8221;
Gerber also predicted that the administration will eventually be forced to soften its approach. &#8220;Just a matter of time till we see all the &#8216;exceptions&#8217; and &#8216;deals&#8217; being made to lessen this disaster in 3rd grade Econ,&#8221; he <a href="https://x.com/GerberKawasaki/status/1909366239098814578">added</a>.
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<h2 class="wp-block-heading">A Heated Exchange With Bill Ackman</h2>
Gerber&#8217;s criticism didn't stop with Trump. On April 3, he <a href="https://www.benzinga.com/25/04/44643409/ross-gerber-and-gary-kasparov-slam-bill-ackmans-defense-of-trumps-trade-war-tactics-this-is-garbage-policy">responded directly to hedge fund manager</a> Bill Ackman, who had defended Trump&#8217;s negotiation tactics by suggesting that appearing &#8220;crazy&#8221; could be strategic.
&#8220;Bill please. Enough excuses. You&#8217;re a smart man. This is garbage policy,&#8221; Gerber replied.
Chess grandmaster and a prominent critic of authoritarianism, Gary Kasparov, also weighed in, saying, &#8220;That only works if you're not actually crazy, I'm afraid,&#8221; in a clear jab at Trump's leadership style.
<h2 class="wp-block-heading">Global Market Fallout</h2>
Their comments came after Trump announced <a href="https://www.benzinga.com/markets/equities/25/04/44620423/trumps-sweeping-tariffs-could-cost-us-20-trillion-crash-markets-warn-economists-monstrously-destructive">sweeping tariffs</a> on nearly all U.S. trading partners. The move triggered a $2 trillion drop in global market value and reignited debate about how effective these trade tactics really are. At the time of writing, April 9, the global markets are down more than $10 trillion.&nbsp;
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Ackman later suggested that foreign leaders should reach out to Trump directly, calling him a dealmaker who sees the world as transactional. But Gerber wasn't buying it. Responding to Fox Business senior correspondent Charles Gasparino, who said that the goal of the new tariff policy is to negotiate reciprocal agreements to reduce tariffs with trading partners, Gerber <a href="https://x.com/GerberKawasaki/status/1907786058106069309">said</a>, &#8220;This is a bad way to do business.&#8221;
At the core of Gerber's argument is a belief that Trump's approach to trade is creating more instability than strength. For Gerber, the fastest way to calm markets and restore confidence is to undo what's been done.
&#8220;Even a rumor&#8221; of change, he said, was enough to send markets higher. That alone, he believes, says everything.
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Ross Gerber Says, 'The Simplest Way To Get Back To ATH Is To Reverse Everything Trump Has Done.' Even A Rumor, He Says, Sent Markets Soaring

Arthur Hayes, co-founder of BitMEX, has projected a significant increase in the value of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). This anticipated surge is linked to the tariff policies of President Donald Trump.
What Happened:&nbsp;On X Hayes stated that the sell-off of US treasuries and the rise in 10-year bond yields could trigger more money printing. This factor has been known to ignite significant&nbsp;Bitcoin rallies in the past.
Hayes also indicated that the devaluation of China&#8217;s&nbsp;yuan due to central bank&nbsp;money printing could encourage investors to transfer&nbsp;their wealth into Bitcoin as&nbsp;a safeguard. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's on like donkey kong. We will be getting more policy response this weekend if this keeps up. We are about to enter UP ONLY mode for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://t.co/KL3OSYfiMc">pic.twitter.com/KL3OSYfiMc</a>
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1910707923824894114?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
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He added that banks might be given&nbsp;a Supplementary Leverage Ratio (SLR)&nbsp;exemption, a proposal supported&nbsp;by JPMorgan Chase CEO Jamie&nbsp;Dimon. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44065728/crypto-analyst-predicts-195-bitcoin-rally-says-bull-market-not-over-yet">Crypto Analyst Predicts 195% Bitcoin Rally, Says Bull Market Not Over Yet</a>
This exemption would permit banks to hold more treasuries without the need to increase required capital reserves, thus providing banks with additional liquidity to lend.
At the time of writing, Bitcoin was trading at $83,343, showing a 4.9% increase&nbsp;in the last 24 hours.
Why It Matters: Hayes&#8217; prediction is significant as it highlights the potential impact of global economic policies on the value of cryptocurrencies. The sell-off of US treasuries and the rise in bond yields, combined with the weakening of China&#8217;s yuan, could potentially create a favorable environment for Bitcoin. 
Furthermore, the possibility of an SLR exemption for banks could increase liquidity in the market, potentially boosting Bitcoin&#8217;s value. 
This forecast underscores the interconnectedness of traditional financial systems and the growing cryptocurrency market.
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Shutterstock: PV Productions

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

Cryptocurrency

$BTC

Arthur Hayes Forecasts Bitcoin Boom Amid US Tariff Policies

Aetherflux, the space-based solar energy startup founded by <a href="https://www.benzinga.com/25/04/44599184/cathie-woods-tuesday-bet-ark-loads-up-on-more-robinhood-stock-amid-platform-expansion">Robinhood</a> billionaire Baiju Bhatt, has secured $50 million in a Series A funding round to push forward its vision of transmitting power from orbit to Earth, writes<a href="https://techcrunch.com/2025/04/02/space-solar-startup-aetherflux-raises-50m-to-launch-first-space-demo-in-2026/"> TechCrunch</a>. The raise comes as the company prepares to launch its first satellite demonstration mission in 2026.
The new <a href="https://www.benzinga.com/news/25/04/44630762/mark-cuban-says-black-women-entrepreneurs-should-stop-looking-for-funding-heres-the-surprising-reason-why">funding</a> brings Aetherflux's total capital to $60 million, bolstered by Bhatt's own $10 million contribution. Leading the round are Index Ventures and Interlagos, with notable backing from Breakthrough Energy Ventures, Andreessen Horowitz, NEA, and a few high-profile individuals, including actor Jared Leto.
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<h2 class="wp-block-heading">Key Investors and the Road Ahead for Aetherflux</h2>
The company, based in San Carlos, California, came out of stealth mode in late 2023 and is working to build satellites that will generate solar power in orbit and beam it back down to ground stations using electricity-powered laser technology. It's a science fiction-inspired futuristic pitch, specifically from Isaac Asimov's 1941 short story Reason, but one Bhatt is determined to make real.
Speaking with TechCrunch, Bhatt said they want to &#8220;demonstrate that we have made this transformative progress of going from humans not having power from space to, for the very first time, there being power from space for humans.&#8221;
The first step is placing an operational satellite into low Earth orbit, which is built on a bus platform based on Apex Space's Aries design. The payload riding on top will harness energy captured by solar panels and convert it to a laser beam that can deliver about one kilowatt of energy back to the surface of the Earth.
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On the ground, special photovoltaic arrays will receive and store that energy. These so-called "ground stations" are still in development, with Aetherflux determined to consider military sites as possible locations because of the controlled airspace in these areas. Ultimately, the company intends to miniaturize the stations into mobile units that can deliver electricity to remote or energy-insecure areas.
Bhatt emphasized the importance of providing "end-to-end power linking" in the upcoming demo, saying the plan is to light up an installation or run simple electronics on the ground using energy transmitted from space.
The company's team includes engineers from NASA, SpaceX, Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Anduril and the U.S. Navy, showcasing the technical strength behind this bold initiative.
So far, very few have managed to transfer solar energy from space wirelessly. According to TechCrunch, Caltech's 2023 microwave beaming experiment is still the most famous example but Aetherflux is aiming higher with a scalable system.
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<h2 class="wp-block-heading">Aetherflux's Push for Groundbreaking Innovation</h2>
The new round of funding will help Aetherflux recruit more engineers and deepen its investment in satellite payload, laser systems, and receiving infrastructure.
Aetherflux's momentum has also been recognized by the U.S. government. In a post on <a href="https://x.com/BaijuBhatt/status/1894188569553522894">X</a>, Bhatt said that the Department of Defense awarded the company with funds from its Operational Energy Capability Improvement Fund to aid solar power innovation for military applications.
With an ambitious mission, elite support, and a founder with a track record of shaking up established systems, Aetherflux is positioning itself to lead the next frontier in clean energy by harvesting the sun's power where it shines brightest: in space.
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Robinhood Co-Founder Baiju Bhatt Launches $50M Space Solar Bet To Beam Energy From Orbit, Eyes 2026 Demo In Sci-Fi Comeback

President&nbsp;Donald Trump&#8217;s&nbsp;announcement that he will place a 90-day pause on tariffs for countries that have not retaliated against U.S. trade measures. Markets rose on the <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/04/44725578/technology-stocks-outperform-after-trumps-tariff-pause-microchip-technology-amd-lead-sector-higher" rel="noreferrer noopener">news, driven&nbsp;higher by tech stocks</a>.&nbsp;
U.S. President&nbsp;Donald Trump&nbsp;has been on the receiving end of criticism from Michigan auto and business groups as tariffs on<a target="_blank" href="https://www.benzinga.com/25/04/44729157/michigan-auto-groups-criticize-trump-for-not-halting-auto-tariffs" rel="noreferrer noopener">&nbsp;automotive imports&nbsp;remain in effect</a>.
The U.S. and Vietnam have launched trade negotiations after President&nbsp;Donald Trump&nbsp;paused the implementation of a&nbsp;46% tariff on Vietnam's exports, a move that could bolster the country's <a target="_blank" href="https://www.benzinga.com/tech/25/04/44726879/vietnam-a-hub-for-us-tech-giants-like-apple-and-nvidia-wants-to-talk-trade-after-trump-pauses-46-tariff" rel="noreferrer noopener">growing tech manufacturing sector</a>.
The European Union and China have agreed to explore setting minimum prices for Chinese-made electric vehicles as an alternative to tariffs imposed last year, <a href="https://www.benzinga.com/news/global/25/04/44756940/europe-china-eye-ev-price-pact-to-avert-trump-tariff-escalation-after-tesla-ceo-elon-musk-pushes-for-zero-eu-tariffs-amid-declining-sales" target="_blank" rel="noreferrer noopener">a European Commission spokesperson</a>.
The sales figures for Q1 2025 for EVs showcase a growth in U.S. EV sales for several manufacturers and paint a strong picture <a href="https://www.benzinga.com/25/04/44755934/us-q1-ev-sales-data-shows-106-yoy-growth-tesla-experiences-decline-but-still-dominates-domestic-ev-sales" target="_blank" rel="noreferrer noopener">for the domestic EV sector</a>.
Technology
European Commission president&nbsp;Ursula von der Leyen&nbsp;has said the EU is preparing a&nbsp;slate of retaliatory measures&nbsp;that could include levies on digital advertising <a target="_blank" href="https://www.benzinga.com/markets/25/04/44754753/meta-google-and-other-big-us-tech-firms-could-end-up-paying-up-if-trump-tariff-talks-collapse-warns-european-commission-president-no-winners-in-this-only-losers" rel="noreferrer noopener">revenues from U.S. tech companies</a>.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly fired two employees who disrupted the tech giant&#8217;s 50th-anniversary event on Friday after protesting the company&#8217;s contracts with Israel and <a target="_blank" href="https://www.benzinga.com/25/04/44677497/microsoft-fires-employee-protestors-who-disrupted-50th-anniversary-event-you-have-shown-no-remorse-for-the-effect-that-your-actions-have" rel="noreferrer noopener">accusing its&nbsp;AI CEO of war profiteering</a>.
Microsoft has decided to suspend its billion-dollar data center project in Licking County, Ohio. ​This decision marks the most recent in a line of data center project <a target="_blank" href="https://www.benzinga.com/25/04/44733013/microsoft-shelves-1-billion-ohio-data-center-plans-amid-global-project-withdrawals-we-are-slowing-or-pausing-some-early-stage-projects" rel="noreferrer noopener">cancellations by the software behemoth</a>.
Microsoft reportedly contemplating another wave of job cuts, primarily <a target="_blank" href="https://www.benzinga.com/25/04/44729860/microsoft-stock-had-a-rough-ride-over-the-past-year-and-the-satya-nadella-led-company-is-now-mulling-more-job-cuts-this-time-focused-on-managers-and-non-coders" rel="noreferrer noopener">targeting middle managers and non-coders</a>.
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) announced new restrictions for teen users, prohibiting those under 16 from live streaming on Instagram without parental permission, as the company expands its Teen <a target="_blank" href="https://www.benzinga.com/general/social-media/25/04/44704723/meta-restricts-live-streaming-for-teens-under-16-as-part-of-expanded-safety-measures" rel="noreferrer noopener">Account&nbsp;protections across its platforms</a>.
Taiwan Semiconductor Manufacturing Co. Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported first-quarter revenue growth of 41.6% year-on-year to&nbsp;839.25 billion<a target="_blank" href="https://www.benzinga.com/25/04/44732800/taiwan-semiconductor-reports-255-billion-q1-revenue-surges-42-in-despite-us-tensions" rel="noreferrer noopener"> New Taiwan dollars ($25.5 billion)</a>.
Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) newly appointed CEO,&nbsp;Lip-Bu Tan, has deep financial ties to China&#8217;s tech sector, including investments in companies <a target="_blank" href="https://www.benzinga.com/25/04/44755999/new-intel-ceo-lip-bu-tan-linked-to-hundreds-of-chinese-tech-firms-including-companies-tied-to-chinas-military-report" rel="noreferrer noopener">reportedly linked to the Chinese military</a>.
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly shifting more of its&nbsp;iPhone&nbsp;production to India to mitigate the financial impact of President&nbsp;Donald Trump&#8217;s&nbsp;escalating tariffs on Chinese goods, potentially&nbsp;offsetting the projected 30% to 40% <a target="_blank" href="https://www.benzinga.com/25/04/44677880/apple-reportedly-plans-to-move-more-iphone-production-to-india-amid-trump-tariff-fearscould-this-solve-the-300-price-hike-on-550-hardware" rel="noreferrer noopener">price&nbsp;increase on its device</a>.
U.S. consumers are reportedly rushing to&nbsp;Apple stores to purchase new&nbsp;iPhones&nbsp;ahead of potential price hikes caused by President&nbsp;Donald Trump&#8217;s&nbsp;newly <a target="_blank" href="https://www.benzinga.com/media/25/04/44679666/apple-customers-flock-to-stores-as-tariffs-threaten-to-drive-iphone-prices-up-by-45-report" rel="noreferrer noopener">announced tariffs on Chinese imports</a>.
Apple completed an urgent logistics operation in late March, transporting five planeloads of iPhones and other products from manufacturing centers in India and<a target="_blank" href="https://www.benzinga.com/25/04/44706383/apple-airlifts-iphones-from-india-and-china-in-72-hour-race-to-beat-trumps-tariffs-as-stock-sinks-amid-us-china-trade-panic" rel="noreferrer noopener"> China to the U.S. within 72 hours</a>.
Automotive &amp; Social Media
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;has unveiled a new trim for its Cybertruck. The new trim is RWD (rear-wheel drive) and offers a range of over 362 <a target="_blank" href="https://www.benzinga.com/markets/equities/25/04/44755221/tesla-unveils-new-cybertruck-long-range-trim-with-a-362-mile-range-and-reduced-features" rel="noreferrer noopener">miles on a single charge</a>.
Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO&nbsp;Andy Jassy&nbsp;has warned that President&nbsp;Donald Trump&#8217;s&nbsp;new tariffs on Chinese imports could result in higher prices for consumers, as many of the company&#8217;s third-party sellers <a target="_blank" href="https://www.benzinga.com/25/04/44754457/amazon-ceo-andy-jassy-says-trump-tariff-costs-could-hit-consumers-as-sellers-pass-them-on-company-working-to-limit-price-hikes-amid-1771-ytd-stock-drop" rel="noreferrer noopener">are unlikely to absorb the additional costs</a>.
Amazon reportedly pulled back on importing a wide range of consumer goods from Asia, leaving vendors stuck with <a target="_blank" href="https://www.benzinga.com/media/25/04/44729831/amazon-halts-orders-worth-over-500000-from-china-vietnam-and-other-asian-countries-following-trumps-tariff-plans-report" rel="noreferrer noopener">unsold inventory and mounting costs</a>.
TikTok&nbsp;has reportedly laid off some of its U.S.-based e-commerce governance and experience team, just days after President&nbsp;Donald Trump&nbsp;extended the deadline&nbsp;for parent company&nbsp;ByteDance&nbsp;<a target="_blank" href="https://www.benzinga.com/general/social-media/25/04/44754260/with-tiktoks-future-in-limbo-e-commerce-team-reportedly-hit-by-layoffs-days-after-trumps-bytedance-deadline-push-amid-chinas-opposition-and-tariff-hikes" rel="noreferrer noopener">to divest its U.S. operations</a>.
Artificial Intelligence
OpenAI&nbsp;is reportedly in discussions to acquire the AI hardware startup co-founded by&nbsp;Jony Ive&nbsp;and&nbsp;Sam Altman&nbsp;in a deal <a target="_blank" href="https://www.benzinga.com/25/04/44678864/openai-eyes-500-million-deal-to-acquire-jony-ive-and-sam-altmans-ai-hardware-startup-report" rel="noreferrer noopener">worth approximately $500 million</a>.
OpenAI&nbsp;countersued&nbsp;Elon Musk, accusing him of using harassment tactics to slow the company&#8217;s progress and disrupt its plans for growth, <a target="_blank" href="https://www.benzinga.com/25/04/44726544/elon-musk-faces-legal-backlash-as-sam-altman-led-openai-countersues-over-harassing-tactics-and-bid-for-control-musk-has-tried-every-tool-available-to-harm-openai" rel="noreferrer noopener">including a&nbsp;contentious bid&nbsp;for control</a>.
Mira Murati, the former chief technology officer of ChatGPT-parent OpenAI, is reportedly seeking to raise a staggering $2 billion seed round for her <a href="https://www.benzinga.com/media/25/04/44756971/former-openai-cto-mira-murati-targets-record-breaking-2-billion-seed-round-for-new-ai-startup" target="_blank" rel="noreferrer noopener">new AI venture, </a><a href="https://www.benzinga.com/media/25/04/44756971/former-openai-cto-mira-murati-targets-record-breaking-2-billion-seed-round-for-new-ai-startup" target="_blank" rel="noreferrer noopener">Thinking Machines Lab</a>.
Image: Shutterstock

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Consumer Tech News (April 7-April 11): US President Puts 90-Days Pause On Tariffs, Microsoft May Cut Jobs & More

President Donald Trump&#8216;s escalation of his tariff war with China has significantly disturbed the global economy.
What Happened: This week, Trump announced a 90-day pause on tariffs against most multiple countries, but simultaneously ramped up import taxes on China to a whopping 145 percent. In a countermove, China raised its own tariffs to 125 percent on Friday.
While Trump insists that China is keen to negotiate a deal, he remains uncertain about the process. On the other hand, Chinese leaders have put a cap on their latest tariff hikes, cautioning that the ongoing conflict could turn into a global economic farce.
The U.S. President&#8217;s strategy has raised questions about his ultimate goal and the potential economic repercussions of this escalating trade war. Trump is of the belief that the&nbsp;tariffs will reduce the trade&nbsp;deficit and bring back manufacturing jobs to the U.S.
"What's the endgame here? Are we really going to reshore manufacturing based in China? And if we're hitting every country on earth with additional tariffs, where are we going to see companies flee China to?" Marc Busch, a professor of international business diplomacy at Georgetown University <a href="https://thehill.com/homenews/administration/5245475-trump-tariff-battle-china/">told</a> The Hill. "They're not coming back to the United States, so what is the endgame here?"  
Also Read: <a href="https://www.benzinga.com/news/25/04/44658808/scaramucci-on-tariffs-there-is-stupid-and-then-there-is-donald-trump-stupid">Scaramucci on Tariffs: &#8216;There Is Stupid and Then There Is Donald Trump Stupid&#8217;</a>
On Wednesday,&nbsp;Trump announced the latest tariff&nbsp;hike on China, increasing it after imposing a&nbsp;104 percent rate that day.&nbsp;A White House official confirmed on Thursday that&nbsp;the rate is now 145&nbsp;percent on China, factoring in&nbsp;an additional 20 percent that&nbsp;includes sectors the reciprocal tariffs&nbsp;do not cover.
Trump also&nbsp;implemented a 90-day reprieve from&nbsp;the &#8220;Liberation Day&#8221;&nbsp;tariffs against all other trading&nbsp;partners, which brought immediate relief to the stock market. He attributed this decision to China&#8217;s disrespect towards the World&#8217;s Markets.
In response, China&#8217;s Ministry of Finance accused the U.S. of violating&nbsp;international economic and trade rules,&nbsp;and disregarding&nbsp;the post-World War II global&nbsp;economic order. Beijing then increased tariffs on U.S. goods to 125 percent on Friday and declared it would cease participating in the tariff hike exchange.
Why It Matters: Despite the ongoing conflict, the U.S. and China continue to be significant trading partners. In 2024, the&nbsp;two countries traded an estimated&nbsp;$582.4 billion,&nbsp;according to data from the&nbsp;U.S. trade representative&#8217;s&nbsp;office. 
The trade deficit with&nbsp;China was at $295.4 billion,&nbsp;up 5.8 percent from the&nbsp;previous year. This escalating trade war could have far-reaching implications for both economies and the global market at large.
Read Next
<a href="https://www.benzinga.com/news/25/04/44645172/china-retaliates-with-34-tariff-on-all-us-imports-urges-trump-to-immediately-cancel-the-tariffs-calls-for-negotiation">China Retaliates With 34% Tariff On All US Imports, Urges Trump To Immediately Cancel The Tariffs, Calls For Negotiation</a>
Shutterstock: Engineer studio

As Trump Intensifies Tariff War With China, Global Economy Feels the Tremors: 'What's the Endgame Here?'

In a surprising move, President Donald Trump has exempted a range of technology products, including some consumer electronics produced in China, from reciprocal tariffs.
What Happened: On late Friday, the Trump administration published a list of exclusions through the&nbsp;U.S. Customs and Border Protection,&nbsp;effectively reducing&nbsp;the scope of the levies.&nbsp;
The exclusions apply to smartphones,&nbsp;laptop computers, hard drives,&nbsp;and computer processors and memory&nbsp;chips, shielding them&nbsp;from Trump's 125% China tariff&nbsp;and his baseline 10% global&nbsp;tariff on nearly all other&nbsp;countries.
This decision brings significant relief to global tech giants like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), albeit potentially for a limited period, <a href="https://www.bloomberg.com/news/articles/2025-04-12/trump-exempts-phones-computers-chips-from-reciprocal-tariffs?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg.
However, this tariff relief may be temporary. The exclusions are part of the initial order, which aimed to prevent&nbsp;extra tariffs on certain sectors&nbsp;from cumulatively stacking&nbsp;on top of the country-wide&nbsp;rates. This suggests that these products could&nbsp;soon be subject to a&nbsp;different tariff, likely&nbsp;a lower one for China.
Also Read:&nbsp;<a href="https://www.benzinga.com/25/04/44652222/trumps-tariffs-may-shift-us-spending-from-goods-to-services-creating-uncertainty-for-ecommerce-and-advertising-industries-analyst-warns" target="_blank" rel="noreferrer noopener">Tariffs To Impact End Demand: Goldman Sachs Analyst Expects Drag On Corporate Spending, Hiring</a>
Notably, machines used to make semiconductors are also exempt from the new tariffs. This is significant news for companies like Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), which recently announced a major new investment in the US, as well as other chipmakers.
Despite this reprieve, the Trump administration&#8217;s 20% duty on China, imposed&nbsp;to pressure Beijing to crack&nbsp;down on fentanyl, including the&nbsp;shipment of precursor materials, remains in place.&nbsp;
Other previously existing levies, including&nbsp;those that predate Trump's current&nbsp;term, also appear unaffected.
Why It Matters: This tariff exemption is a significant development for the global tech industry, particularly for companies like Apple and Nvidia. 
The decision may provide temporary relief from the financial strain caused by the tariffs, potentially boosting their profit margins. 
However, the temporary nature of the reprieve suggests that the industry may need to brace for potential changes in the tariff landscape in the future.
Read Next
<a href="https://www.benzinga.com/markets/25/04/44656680/trumps-10-tariff-on-most-imports-is-finally-here-taking-effect-saturday">Trump&#8217;s 10% Tariff On Most Imports Is Finally Here, Taking Effect Saturday</a>
Shutterstock: nikkimeel

Trump Grants Tariff Reprieve to Tech – Including From China - In Surprise Move

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