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Years after <a href="https://www.benzinga.com/news/23/05/32382643/ex-meta-employee-oculus-founder-raves-about-apples-so-good-arvr-headset">a controversial split</a>, Mark Zuckerberg's Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Palmer Luckey are teaming up again—this time to equip U.S. soldiers with next-gen combat headsets.
What Happened: On Thursday, Meta and Luckey-led defense tech startup Anduril Industries announced a partnership to develop rugged VR/AR headsets for the U.S. Army.
The new system, called EagleEye, is designed to enhance soldiers' senses using AI, allowing for advanced capabilities like drone detection and target identification, <a href="https://www.wsj.com/tech/meta-army-vr-headsets-anduril-palmer-luckey-142ab72a?mod=tech_lead_pos4">reported</a> the Wall Street Journal.
The devices will combine Anduril's autonomous software with Meta's AI models. "I finally got all my toys back," said Luckey, referring to the partnership giving him access to VR designs he helped pioneer before being fired by Facebook, now Meta, in 2017.
See Also: <a href="https://www.benzinga.com/25/03/44447324/mark-zuckerberg-once-said-the-social-network-made-up-stuff-that-was-kind-of-hurtful-because-real-life-wasnt-glamorous-enough-for-hollywood">Mark Zuckerberg Once Said &#8216;The Social Network&#8217; Made Up Stuff That Was Kind Of Hurtful Because Real Life Wasn&#8217;t Glamorous Enough For Hollywood</a>
Meta and Anduril have jointly submitted a bid for an Army contract worth up to $100 million, the report said. The deal would mark Meta's most <a href="https://www.benzinga.com/news/25/05/45483220/money-spigot-thats-never-going-off-meta-reportedly-hiring-ex-pentagon-officials-as-they-target-defense-contracts">significant collaboration with the Pentagon</a> and is part of a larger $22 billion Army initiative to modernize military wearables.
Notably, the companies say development is continuing regardless of whether they win the bid. "This is way too important of a capability for the United States military to let the last vestiges of a decade-old pissing contest get in the way," said Luckey.
In a statement, Zuckerberg said the EagleEye technology would support U.S. soldiers in protecting "our interests" both domestically and internationally.
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Why It's Important: In 2014, Facebook acquired Luckey's virtual reality startup Oculus <a href="https://www.benzinga.com/general/entertainment/22/05/27485415/4-largest-acquisitions-by-facebook-oculus-instagram-and-more">for $2.2 billion</a>. However, just two years later, the relationship fractured when Luckey faced backlash over a political donation, ultimately leading to his departure in 2017.&nbsp;
Last year, Luckey visited Meta's <a href="https://www.benzinga.com/news/24/09/41084112/mark-zuckerberg-says-orion-is-probably-going-to-be-the-next-major-platform-after-phones-metas-new-ar">headquarters to test</a> its Orion AR glasses. Following the visit, Meta CTO Andrew Bosworth <a href="https://www.benzinga.com/news/24/10/41269578/mark-zuckerbergs-meta-and-oculus-founder-palmer-luckey-mend-fences-the-people-responsible-arent-even">issued a public apology</a> for past comments, which Luckey accepted, noting Meta had undergone major leadership changes.
Zuckerberg also praised Luckey, saying he respects his contributions to VR and success beyond Oculus. Luckey responded positively, signaling openness to working with Meta again.
Luckey's Anduril was valued at $28 billion earlier this month, while Meta currently has a market cap of $1.6 trillion.
Price Action: Meta shares slipped 0.70% in after-hours trading, closing at $640.52, per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
According to Benzinga Edge Stock Rankings, META maintained a strong price trend across short-, medium-, and long-term timeframes. The stock ranked 86.82% for momentum, while its value score stood at 35.17%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More details are available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/30002704/Screenshot-2025-05-30-at-9.53.48%E2%80%AFAM.png" alt="" class="wp-image-932506" /></a></figure>
Photo Courtesy: Tada Images on Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Tech

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Mark Zuckerberg's Meta Reunites With Palmer Luckey To Equip US Soldiers With EagleEye — An AI-Powered Combat Headset That Can Detect Drones

Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO Sundar Pichai says overall Google Search activity is growing, thanks in part to AI-powered experiences.
What Happened: Speaking <a href="https://www.theverge.com/decoder-podcast-with-nilay-patel/673638/google-ceo-sundar-pichai-interview-ai-search-web-future">with</a> The Verge Editor-in-Chief Nilay Patel after <a href="https://www.benzinga.com/content/45592655/alphabet-gets-jpmorgans-vote-of-confidence-after-google-io">Google's I/O</a> developer conference, Pichai addressed reports that search usage has been declining.
Earlier this month, in his testimony, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) executive Eddy Cue stated that, for the first time in over two decades, Safari had experienced a <a href="https://www.benzinga.com/25/05/45339953/apple-exec-says-iphone-users-are-ditching-google-search-now-chamath-palihaptiya-urges-the-tech-giant-to-stop-waiting-for-data-and-start-fighting-models-like-chatgpt">decline in search volumes</a>, which he attributed to the rise of AI-driven searches.
In response, Pichai pushed back, saying the data doesn&#8217;t show a downturn in overall activity. "We've been very clear. We're seeing overall query growth in search."
See Also: <a href="https://www.benzinga.com/25/05/45638355/headline-apples-former-design-chief-jony-ive-called-phones-and-laptops-legacy-platforms-google-ceo-sundar-pichai-said-pulling-out-a-black-glass-rectangle-wont-make-sense-forever-though-new-age-devices-havent-really-taken-off-yet">Apple&#8217;s Former Design Chief Jony Ive Called Phones And Laptops &#8216;Legacy Platforms:&#8217; Sundar Pichai Says Pulling Out A &#8216;Black Glass Display Rectangle&#8217; Won&#8217;t Make Sense Forever</a>
"There can be a lot of noise in search data, but everything we see tells us that we are seeing query growth, including across Apple's devices and platforms," Pichai added.
He attributed much of the increase to new user behaviors driven by AI features like Search Generative Experience (SGE), adding, "The query growth is continuing to grow over time."
Pichai also framed the evolving search landscape as additive rather than competitive. "It feels very far from a zero-sum game to me," he said, drawing comparisons to how YouTube thrived even after TikTok's rise.
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.
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Why It's Important: During his testimony, Cue said Apple is actively <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45259675/apple-alphabet-shares-tumble-amid-potential-ai-search-shift">exploring the integration</a> of an AI-powered search engine into Safari, considering options from OpenAI, Anthropic and Perplexity AI.
Meanwhile, Google at the developer conference <a href="https://www.benzinga.com/markets/25/05/45537306/google-unveils-total-reimagining-of-search-with-chatbot-style-feature-to-compete-with-openai">rolled out a new "AI mode"</a> in its Search and Chrome browser for all U.S. users. The feature provides a conversational, Q&amp;A-style experience, resembling ChatGPT and replacing the conventional list of search result links.
In April, Alphabet <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">posted first-quarter revenue</a> of $90.23 billion, marking a 12% increase from the previous year. The figure surpassed the Street consensus estimate of $89.2 billion, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Revenue from Google Search came in at $50.7 billion, exceeding the expected $46.2 billion.
According to Benzinga Edge Stock Rankings, Alphabet has received a growth score of 88.56%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other companies</a> like Apple.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29233900/Screenshot-2025-05-30-at-9.07.39%E2%80%AFAM.png" alt="" class="wp-image-932493" /></a></figure>
Photo Courtesy: JHVEPhoto On Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/25/05/45599346/why-googles-demis-hassabis-disagrees-with-co-founder-sergey-brin-on-when-agi-will-arrive-and-sets-a-much-higher-bar" target="_blank" rel="noreferrer noopener">Why Google's Demis Hassabis Disagrees With Co-Founder Sergey Brin On When AGI Will Arrive: ‘I Have Quite A High Bar'</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

GOOGL

Apple May See Fewer Searches In Safari, But Google CEO Sundar Pichai Insists AI Is Fueling Overall Query Growth: 'Far From A Zero-Sum Game'

Matt Cole, CEO of Strive Asset Management, publicly called on tech behemoth Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) on Wednesday to buy Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) for its balance sheet.
What happened: Cole dialed the company from the Bitcoin 2025 conference in Las Vegas, listing the benefits of adding Bitcoin to corporate reserves.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">JUST IN: &#x1f1fa;&#x1f1f8; Strive CEO Matt Cole calls Mark Zuckerberg's Meta to buy <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> for their balance sheet. Bitcoin is good for corporations &#x1f64c; <a href="https://t.co/T0eoTVFhjw">pic.twitter.com/T0eoTVFhjw</a>
&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1927783863398412702?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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"The reality is that the corporate balance sheet in cash and short-term reserves is losing its ability to generate value for shareholders almost every single day," Cole said, citing a "global fiat debt crisis." Cole also highlighted potential disruptions from artificial intelligence over the next ten years.
Cole addressed Mark Zuckerberg, stating that the CEO had already done step one by <a href="https://www.benzinga.com/markets/cryptocurrency/21/05/21051620/facebook-ceo-mark-zuckerberg-sparks-bitcoin-speculation-as-he-reveals-the-name-of-his-pet-">naming his goat &#8220;Bitcoin.&#8221;</a>&nbsp;
&#8220;You have already done step one. You have named your goat Bitcoin,&#8221; Cole stated. &#8220;My ask is that you take step two and adopt a bold corporate Bitcoin treasury strategy," Cole added.
Meta didn't immediately return Benzinga's request for comment.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45556899/from-amazon-to-warren-buffetts-berkshire-hathawaybitcoin-is-now-bigger-than-these-wall-street-titans">From Warren Buffett&#8217;s Berkshire Hathaway To Jeff Bezos&#8217; Amazon — Bitcoin Is Now Outshining These Wall Street Titans</a>
Why It Matters: Earlier in January, Meta shareholders had <a href="https://www.benzinga.com/general/market-summary/25/01/42967576/meta-investors-push-mark-zuckerberg-to-replace-72b-cash-with-bitcoin-to-combat-inflation-heres-what-it-means-for-investors">reportedly requested</a> the company's board to conduct an assessment and determine if adding Bitcoin was in its best interest.
Strive, co-founded by entrepreneur-turned-politician Vivek Ramaswamy, is an asset management firm known for its advocacy and optimism about Bitcoin.
It previously <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43963817/gamestop-themed-cryptos-soar-after-vivek-ramaswamy-co-founded-firms-ceo-urges-bitcoin-investment-graduate-from-being-meme-stock-to-sector-leader">sent a letter</a> to video game retailer GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), recommending it add Bitcoin to its reserves. Earlier this week, the company <a href="https://www.benzinga.com/content/45684091/gamestop-buys-bitcoin-smart-strategy-or-big-mistake">made its first purchase</a>, buying 4,700 BTC for $512.6 million.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $106,010.69, down 0.91% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Shares of Meta were down 0.70% in after-hours trading after closing 0.23% higher at 645.05 during Thursday&#8217;s regular trading session.
It demonstrated a very high growth score— a measure of a stock&#8217;s combined historical expansion in earnings and revenue across multiple time periods,—as of this writing. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> can help you determine how it compares to other &#8220;Magnificent 7&#8221; stocks.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="511" height="196" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/30004928/Screenshot-2025-05-30-101859.png" alt="" class="wp-image-932516" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/30004928/Screenshot-2025-05-30-101859.png 511w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/30004928/Screenshot-2025-05-30-101859-300x115.png 300w" sizes="(max-width: 511px) 100vw, 511px" /></a></figure>
Photo Courtesy: Kemarrravv13 on Shutterstock.com
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45611404/anthony-scaramucci-remains-firm-on-bitcoin-as-the-best-investment-idea-even-as-the-largest-crypto-hovers-around-109000">Anthony Scaramucci Remains Firm On Bitcoin As The Best Investment Idea Even As The Largest Crypto Hovers Around $109,000</a></li>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

Mark Zuckerberg Already Made It To 'Step 1' By Naming His Goat Bitcoin — Now Investor Dials Meta To Ask Him To Add BTC To Company's Reserves

To deny that healthcare giant UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) is struggling would be to categorically ignore reality. Since the start of the year, UNH stock dropped more than 41% of market value, an ignominious decline for a blue chip. At the same time, because it's such a revered name (at least prior to the controversies), investors may be tempted to buy the dip.
Presenting a deep dive into the problems impacting UNH stock would take volumes of printed literature. In a nutshell, the sector juggernaut lost nearly $140 billion of market capitalization following a <a href="https://www.benzinga.com/25/05/45558758/as-unitedhealth-group-lost-an-unthinkable-140-billion-in-market-cap-since-april-analysts-weigh-in-on-the-path-ahead">series of awful news items</a>, including downbeat first-quarter results, CEO Andrew Witty stepping down from the helm and a potential criminal investigation by the Department of Justice.
Analysts expressed shock at the dramatic paradigm shift. "This is a stock that every growth-oriented portfolio manager in the world owned for a decade and made money on it like clockwork," said Whit Mayo from Leerink Partners. "It&#8217;s stunning. It&#8217;s unthinkable," the expert added.
Subsequently, many traders have also rushed for the exits and have largely decided to stay on the sidelines. Currently, UNH stock is <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45627855/whats-going-on-with-unitedhealth-stock-today">trading below key moving averages</a> — common benchmarks to gauge market health. Further, other indicators used by technical analysts, such as the Relative Strength Indicator and the Moving Average Convergence-Divergence (MACD) broadcast deflated momentum.
Still, not everything is pointed in the negative direction. Fundamentally, UnitedHealth added 700,000 new clients in the latest quarter thanks to the vertical integration of UnitedHealthcare and Optum. And while there are legitimate concerns regarding rising healthcare costs and heightened regulations, bullish investors note that UNH stock is undervalued, trading at <a href="http://pro.benzinga.com/?tblci=GiBHQ5jGSz2tTIA8W0d9W_RJMHgkmUPdKPzylaI48Ac4RiCN1Vcomc3V5NGfyeiJATDviEo">12.85 times forward earnings</a>.
<h2 class="wp-block-heading">Buy-the-Dip Sentiments Could Potentially Boost UNH Stock</h2>
Recently, an investor wrote on the popular <a href="https://www.reddit.com/r/wallstreetbets/comments/1kt8b8d/i_took_100k_from_our_house_sale_and_bought_303/?tblci=GiBHQ5jGSz2tTIA8W0d9W_RJMHgkmUPdKPzylaI48Ac4RiCN1Vcomc3V5NGfyeiJATDviEo" target="_blank" rel="noreferrer noopener">r/wallstreetbets</a>&nbsp;subreddit that he <a href="https://www.benzinga.com/25/05/45668906/americas-not-gonna-stop-getting-sick-says-investor-who-put-100k-into-unh-stock-his-wife-still-thinks-its-sitting-in-a-savings-account">bought $100,000 worth of UNH stock</a>, while deceptively telling his wife that he heeded her instructions to put the money somewhere safe. While there's a cautionary tale here regarding relational integrity, the point as it relates to UnitedHealth is this: investors historically have a tendency of buying the dip in UNH.
Social media isn't the only source for this claim. Following the implosion of UNH stock that started in April and continued into this month, insiders began loading up the truck. To be fair, insider trades aren't the end-all, be-all when it comes to investing decisions. Nevertheless, there's only one reason why insiders buy their own stock: simply, they believe that shares will move higher.
Adding to the intriguing framework is market breadth data, which is the analysis of accumulation (positive sessions) and distribution (negative sessions) patterns. Currently, UNH stock is riding a "3-7-D" sequence: three up weeks, seven down weeks, with a net negative trajectory across the 10-week period. Notably, in 68.75% of cases, the following week's price action results in upside, with a median return of 2.09%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29152554/UNH-stock-10wk-forecast-1024x576.jpg" alt="" class="wp-image-932195" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29152554/UNH-stock-10wk-forecast-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29152554/UNH-stock-10wk-forecast-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29152554/UNH-stock-10wk-forecast-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29152554/UNH-stock-10wk-forecast.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Assuming that UNH stock closes around $297 by the end of this week, the bulls could theoretically push the price above $303 over the next week or two. Should the bulls maintain control of the market, they could drive the price toward the $308 to $310 range over the next several weeks.
<h2 class="wp-block-heading">An Aggressive But Rational Wager For UnitedHealth</h2>
Those willing to gamble on the potential near-term recovery of UnitedHealth may consider the 300/305 bull call spread expiring June 20. This transaction involves buying the $300 call and simultaneously selling the $305 call, for a net debit paid of $235 (the most that can be lost in the trade). Should UNH stock rise through the short strike price at expiration, the maximum reward is $265, or a payout of nearly 113%.
As a fair warning, the above trade is going to be tight because it ultimately comes down to how strong the response will be to the 3-7-D market breadth sequence. For those who want an extra time cushion, traders may consider the 300/305 bull spread for the July 3 expiration date. It's the same transaction but with an additional two weeks of margin.
Plus, the payout for the July 3 spread is quite high at nearly 105%. This defined-risk, defined-reward trade might be a more suitable idea than lying to a spouse about a six-figure investment.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/25/05/45630622/chwy-stock-short-interest-contrarian-trade">Options Corner: A Contrarian Case Builds As Traders Short Chewy Ahead Of Earnings</a></li>
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Options Corner: UnitedHealth May Be Broken But Contrarian Traders Eyeball A Recovery

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Reported Earlier, Australia Building Approvals (MoM) For April -0.1% Vs. 0.3% Est.; 0.3% Prior

Reported Earlier, Australia Retail Sales (MoM) For April -5.7% Vs. 3.1% Est.; -7.1% (Revised) Prior

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Reported Earlier, Japan Industrial Production (MoM) Preliminary For April -0.9% Vs. -1.4% Est.; 0.2% Prior

Reported Earlier, Japan Tokyo Core Consumer Price Index (YoY) For May 3.6% Vs. 3.5% Est.; 3.4% Prior

Former Treasury Secretary Larry Summers is sounding the alarm on America's fiscal trajectory, placing the blame squarely on President Donald Trump and the GOP&#8217;s &#8220;One Big, Beautiful Bill.&#8221;
What Happened: During his appearance on the Politics War Room podcast on Thursday, Summers criticized the lack of fiscal discipline in current Republican proposals, warning that the United States is on the verge of a crisis if current debt trends continue.
&#8220;We are not paying attention to the first law of holes. Stop digging,&#8221; Summers said, referring to the $36.9 trillion U.S. National Debt, and $1.83 trillion fiscal deficit. 
He believes that the country is not on a sustainable path right now, and adds that the &#8220;Big, Beautiful Bill&#8221; is actually a prescription for &#8220;deadly, dangerous decline.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45686497/jamie-raskin-wants-trump-to-disclose-his-crypto-dinner-guest-list-says-foreigners-cant-donate-dollar-but-are-buying-access-to-president-through-memecoin">Jamie Raskin Wants Trump To Disclose His Crypto Dinner Guest List, Says Foreigners Can&#8217;t Donate Dollar But Are Buying Access To President Through Memecoin</a>
Summers, who served as the Treasury Secretary under President Bill Clinton and as the Director of the National Economic Council under President Barack Obama, notes that the U.S. debt-to-income ratio is now three times higher than it was in 1993, when Clinton took office.
He cautioned that the fiscal outlook is even more dire than it was during the 2010 Simpson-Bowles deficit commission, when long-term budget reform was a bipartisan concern.
&#8220;The world's greatest debtor will not forever be the world's greatest power,&#8221; he says, adding that the U.S. is increasingly dependent on China to finance its deficits, something that he feels is &#8220;massively dangerous.&#8221;
This prompted his criticism of Trump&#8217;s calls to slash Internal Revenue Service enforcement, relying on tariffs instead, which Summers refers to as a regressive tax to raise revenue. &#8220;Is it really a good idea to push the price of a new car up by $4,000?&#8221; he asks, while warning that these policies stand to hurt consumers.
Summers concludes by drawing parallels between the current U.S. fiscal trajectory and that of the U.K. in 2022, calling it a setup for a &#8220;Liz Truss moment.&#8221; 
Here, he is referring to the short, chaotic reign of the former British Prime Minister, whose tenure came to an end following turmoil in the bond markets, triggered by similar unfunded tax cuts and fiscal missteps.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.⁦<a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>&#39;s⁩ big, beautiful bill is a prescription for deadly, dangerous decline. Listen to <a href="https://twitter.com/PoliticsWarRoom?ref_src=twsrc%5Etfw">@PoliticsWarRoom</a>⁩ podcast with <a href="https://twitter.com/JamesCarville?ref_src=twsrc%5Etfw">@JamesCarville</a>⁩ and Al Hunt. <a href="https://t.co/6AhqdRyJAA">https://t.co/6AhqdRyJAA</a>
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1928042641695932910?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
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Why It Matters: Summers has referenced the &#8220;Liz Truss&#8221; moment for America <a href="https://www.benzinga.com/25/05/45484394/gold-hits-3500-as-larry-summers-says-u-s-market-is-on-a-path-to-crisis-like-uks-2022-meltdown">several times in recent weeks</a>, while criticizing the Republican-backed &#8220;One Big, Beautiful Bill.&#8221;
&#8220;I would have said a ‘Liz Truss&nbsp;moment' was very unlikely in the U.S. if you had asked me three months ago,&#8221; Summers said during a BBC Radio interview over a month ago, &#8220;now I think we're on a path towards having an episode like that,&#8221; he adds.
Macro analyst and founder of The Bear Traps Report, Lawrence McDonald, referred to the bill being passed by the Republican-controlled House as &#8220;smoking in the dynamite shed,&#8221; underscoring <a href="https://www.benzinga.com/25/05/45622854/trump-may-be-smoking-in-the-dynamite-shed-as-the-big-beautiful-bill-drives-bond-yields-higher">the major implications</a> of rates being higher for longer, such as the billions in unrealized losses now facing Japan&#8217;s top insurance companies.
Even Trump ally Elon Musk has <a href="https://www.benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doing">criticized the bill</a>, saying that the legislation &#8220;undermines the work&#8221; that the Department of Government Efficiency (DOGE) has been doing under his leadership.
The Director of the National Economic Council, Kevin Hassett, however, claimed that the bill <a href="https://www.benzinga.com/news/25/05/45678485/trump-economic-advisor-kevin-hassett-says-wed-have-had-a-recession-but-passing-of-one-big-beautiful">helps avert a recession</a>, and a loss of revenue for the government.
Price Action: U.S. 10-Year Treasury yields stand at 4.42%, with the 20-Year and 30-Year notes yielding 4.92% and 4.90%, respectively, at the time of writing.
Photo Courtesy: wedmoments.stock on Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/tech/25/05/45685893/trump-says-he-is-having-elon-musk-over-at-the-white-house-tomorrow-for-a-press-conference-as-billionaire-exits-government-this-will-be-his-last-day-but-not-really">Trump Says He Is Having Elon Musk Over At The White House Tomorrow For A Press Conference As Billionaire Exits Government: &#8216;This Will Be His Last Day, But Not Really…&#8217; </a></li>
</ul>

Government

Federal Reserve

Larry Summers Issues Stark Warning: 'The Big, Beautiful Bill' Is Actually A Prescription For 'Deadly, Dangerous Decline'

Venture capitalist&nbsp;Chamath Palihapitiya&nbsp;deemed gold as the &#8220;only safe trade&#8221; Thursday following reports that quantum computers could crack Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) encryption faster than anticipated.
What Happened: In an X post, Palihapitiya expressed concern about Bitcoin&#8217;s vulnerability to quantum computing and questioned the apex cryptocurrency&#8217;s safe haven narrative.
&#8220;If this is even remotely true, combined with everything else happening rn, the only safe trade are hard assets and, dare I say, gold,&#8221; the tech investor said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If this is even remotely true, combined with everything else happening rn, the only safe trade are hard assets and, dare I say, gold. Sheesh. <a href="https://t.co/xXep4kpblI">https://t.co/xXep4kpblI</a>
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1928162226466075094?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
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Aravind Srininvas, CEO of Perplexity AI, responded, saying, &#8220;Quantum is over hyped right now.&#8221;
A few cryptocurrency enthusiasts accused Palihapitiya of spreading FUD. Quinten Francois asked,&#8221; Do you have some financial interests in spreading it?&#8221;
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45678209/ethereum-becoming-more-attractive-for-institutional-investors-jpmorgan-analysts-say" target="_blank" rel="noreferrer noopener">Ethereum Becoming More Attractive For Institutional Investors, JPMorgan Analysts Say</a>
Why It Matters:&nbsp;Palhipatiya&#8217;s concern comes <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45613248/google-warns-quantum-computers-could-crack-bitcoin-like-encryption-20-times-faster-than-expected">after new research</a> conducted by Google suggested that the RSA encryption could be broken with 20 times fewer quantum resources than previously estimated. 
Notably, the&nbsp;<a href="https://www.benzinga.com/money/what-is-cryptography" target="_blank" rel="noreferrer noopener">Elliptic Curve Cryptography algorithm</a>, which secures transactions on Bitcoin with public and private keys, is similar in principle to the RSA.
While some experts<a href="https://www.benzinga.com/24/12/42455205/will-googles-new-willow-chip-break-bitcoin-some-dismiss-it-as-fantasy-while-others-flag-risk-that-isnt-immediate" target="_blank" rel="noreferrer noopener">&nbsp;ruled out immediate dangers</a> to Bitcoin, a few others have advocated for proactive measures to prepare for the threat, such as switching to quantum-resistant algorithms.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $106,127.15, down 1.95% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Interestingly, quantum computing stock Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) has risen over 17% over the past week. During Thursday&#8217;s regular session, however, the shares closed down 2.81%.
QUBT demonstrated a very high momentum score—a measure of the stock's relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. Check out how other quantum stocks are performing using <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="530" height="190" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29232123/image-400.png" alt="" class="wp-image-932477" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29232123/image-400.png 530w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29232123/image-400-300x108.png 300w" sizes="(max-width: 530px) 100vw, 530px" /></a></figure>
Photo Courtesy: Kathy Hutchins On Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/25/05/45661076/peter-schiff-challenges-jd-vances-bitcoins-safe-haven-assertion-urges-him-to-implement-policies-that-reduce-the-n" target="_blank" rel="noreferrer noopener">JD Vance Said Bitcoin Created Wealth, Peter Schiff Says It Did No Such Thing: &#8216;What Has Happened Is A Massive Transfer Of &#8230;&#8217;</a></li>
</ul>

QUBT

Chamath Palihapitiya Says This Old-Fashioned Asset Is Among 'Safe' Trades If The Possibility Of Quantum Computing Cracking Bitcoin Is Even 'Remotely True'

Chipmaker Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) better-than-expected <a href="https://www.benzinga.com/news/earnings/25/05/45657660/nvidia-q1-highlights-china-export-ban-hits-results-but-jensen-huang-says-demand-incredibly-strong">first-quarter earnings</a> resulted in a spike in the stock, but leading analysts and fund managers believe the market&#8217;s reaction didn&#8217;t go far enough.
What Happened: On Thursday, Gene Munster, Managing Partner of Deepwater Asset Management, posted on X expressing his disappointment in the market&#8217;s reaction to Nvidia&#8217;s strong first-quarter performance, amid substantial macroeconomic turmoil and uncertainties.
Munster believes just the company&#8217;s guidance alone should have sparked an 8% to 10% rally in the stock, referring to its $45 billion revenue forecast for the second quarter, despite losing $8 billion in potential sales due to export restrictions.
&#8220;Just based on the guid[ance] (excluding what could be said on the call and the shelf), the stock should be up 8-10%,&#8221; Munster said.
See Also: <a href="https://www.benzinga.com/25/05/45685544/scott-bessent-says-us-china-trade-talks-at-stalemate-need-trump-and-xi-jinping-touch-to-break-the-deadlock">Scott Bessent Says US-China Trade Talks At Stalemate, Need Trump And Xi Jinping Touch To Break The Deadlock</a>
He argues that Wall Street is underestimating Nvidia's forward momentum and failing to properly adjust estimates based on the company's underlying growth, excluding the impact of U.S. export restrictions, which he says &#8220;will only last a year at most.&#8221;
Nvidia posted a 69% year-over-year growth in revenue during its first quarter, but Munster believes it would have been 79%, had it not been for the chip export restrictions to China. Similarly, he says, guidance for second-quarter sales growth would have been 76%, as opposed to 50%, due to the same reason.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just based on the guide (excluding what could be said on the call and the shelf), the stock should be up 8-10%. Thats based on the size of the forward estimate revisions ex curbs and a belief the impact of the curbs to growth rates will only last a year at most. <a href="https://t.co/JYvmtJC0GD">https://t.co/JYvmtJC0GD</a>
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1927830766093828355?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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Munster points out that the company&#8217;s revenue growth slowed slightly from the prior quarter, but he notes that it did so while operating off a much larger revenue base, which he finds &#8220;impressive.&#8221;
&#8220;That fractional decline of revenue growth quarter over quarter off of a much bigger base is impressive,&#8221; he said, framing it as &#8220;the latest evidence that the company's growth will be higher for longer.&#8221;
Despite these robust figures and fundamentals, the stock rallied a mere 3.25% on Thursday, which Munster finds too muted.
Why It Matters: Munster&#8217;s opinions were echoed by leading Wall Street banks and analysts, with as many as 12 institutions raising their Price Targets for the stock, following its results, as compiled and reported by Walter Bloomberg on X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f538; <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>: Summit Insights Upgrades to Buy from Hold &#x1f538; <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>: BofA Securities Raises target price to $180 from $160 &#x1f538; <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>: Melius Raises target price to $205 from $195 &#x1f538; <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>: DA Davidson Raises target price to $135 from $120 &#x1f538; <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>: Morgan Stanley Raises target price to…
&mdash; &#x2A;Walter Bloomberg (@DeItaone) <a href="https://twitter.com/DeItaone/status/1928038733091152262?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
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The stock now has an average <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">consensus price target</a> of $175.62, and $220.00 on the high side, representing an upside of 26.17% and 58% from current levels, respectively.
Analysts at Rosenblatt Securities <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45675006/nvidia-stock-has-significant-upside-as-ai-godfather-jensen-huang-delivers-another-robust-quarter">referred to the company</a> as the &#8220;Godfather of AI,&#8221; while forecasting &#8220;significant upside&#8221; and raising their price target to $200, from $178 prior to the results. 
During its <a href="https://www.benzinga.com/news/earnings/25/05/45657660/nvidia-q1-highlights-china-export-ban-hits-results-but-jensen-huang-says-demand-incredibly-strong">first quarter results</a> on Wednesday, Nvidia reported $44.1 billion in revenue, up 69% year-over-year, and ahead of street estimates at $43.2 billion. It posted a profit of $0.81 per share, which, however, fell short of <a href="https://www.benzinga.com/25/05/45644145/nvidia-stock-is-bullish-ahead-of-q1-earnings-but-will-h20-chip-woes-dampen-the-party">consensus figures</a> at $0.88. 
Price Action: Nvidia shares were up 3.25% on Thursday, trading at $139.19, but are down 1% after hours.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="137" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220555/Screenshot-2025-05-30-at-7.35.40-AM-1024x137.png" alt="" class="wp-image-932439" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220555/Screenshot-2025-05-30-at-7.35.40-AM-1024x137.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220555/Screenshot-2025-05-30-at-7.35.40-AM-300x40.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220555/Screenshot-2025-05-30-at-7.35.40-AM-768x103.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220555/Screenshot-2025-05-30-at-7.35.40-AM-1536x205.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220555/Screenshot-2025-05-30-at-7.35.40-AM.png 1618w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Nvidia scores high across the board in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short, medium, and long term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers, and competitors.
Photo Courtesy: Hepha1st0s On Shutterstock.com
Read More:
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<li><a href="https://www.benzinga.com/25/05/45661825/from-chips-to-switches-nvidia-quietly-builds-8-billion-networking-business-to-dominate-the-ai-datacenter-stackand-wall-street-may-be-overlooking-it">Jensen Huang Points To &#8216;A Powerful New Wave Of Growth&#8217; For Nvidia And Wall Street May Be Overlooking It: Chipmaker Set To Dominate The AI Datastack?</a></li>
</ul>

Earnings

Analyst Ratings

NVDA

Nvidia's Q1 Results Should Have Sparked A Bigger Rally, Says Gene Munster—Deserves An 8-10% Pop, Not Just 3%

A leading Democratic lawmaker launched a probe Thursday into the private dinner held by President Donald Trump for top investors in his Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)
What Happened:&nbsp;Rep.&nbsp;Jamie Raskin&nbsp;(D-Md.), Ranking Member of the House Judiciary Committee, sent a letter to Trump demanding he disclose the guest list of invitees for the event held last week. Raskin also inquired about the origin&nbsp;of the funds the investors used to&nbsp;purchase the meme coin
&#8220;Publication of this list will also let the American people know who is putting tens of millions of dollars into our President's pocket so we can start to figure out what—beyond virtually worthless memecoins—they are getting in exchange for all this money," Rasking wrote.
The legislator also objected to the presence of foreign individuals at the dinner, including controversial cryptocurrency mogul Justin Sun, the<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45367052/trump-memecoin-exclusive-dinner-guest-list-revealed-with-justin-sun-shining-at-the-top-rep"> largest investor</a> in the meme coin.
"Foreign nationals—who are not allowed to donate a dollar to your presidential campaign under federal election laws—are now purchasing access to you by buying millions of dollars of your personal memecoin,&#8221; Raskin alleged.
The White House didn&#8217;t immediately return Benzinga&#8217;s request for comment.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45678209/ethereum-becoming-more-attractive-for-institutional-investors-jpmorgan-analysts-say" target="_blank" rel="noreferrer noopener">Ethereum Becoming More Attractive For Institutional Investors, JPMorgan Analysts Say</a>
Why It Matters: The exclusive dinner was held at Trump&#8217;s private golf club near Washington, D.C., amid <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45581129/trump-gala-dinner-saw-president-wine-and-dine-top-memecoin-holders-as-protestors-flashed-don-the-con-signs-exclusive">protests and ethical concerns</a>.
Since the dinner&#8217;s announcement last month, there has been a growing uproar. <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/45027557/trumps-memecoin-dinner-event-sparks-impeachment-call-from-democratic-senator-says-potus-is-selling-access-to-those-who-enrich-him">Democrats</a>, as well as some <a href="https://www.benzinga.com/markets/25/05/45563302/pro-trump-crypto-enthusiasts-slam-trumps-memecoin-dinner-as-distasteful-and-an-unnecessary-distraction-hes-becoming-a-salesman-in-chief">pro-Trump crypto aficionados</a>, have expressed concerns about potential conflicts of interest and the likelihood that mysterious buyers will obtain access to Trump through such gatherings.
Trump has&nbsp;<a href="https://in.benzinga.com/25/05/45187462/trump-denies-personal-profit-from-memecoin-venture-i-havent-even-looked" target="_blank" rel="noreferrer noopener">refuted claims</a>&nbsp;that he is financially benefiting from the venture. The team behind the meme coin—80% of which is managed by a Trump Organization affiliate—states that TRUMP is neither a political endeavor nor an investment opportunity, but rather a statement of support for Trump&#8217;s principles.
Price Action:&nbsp; At the time of writing, TRUMP was exchanging hands at $11.74, down 6.46% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Over the last week, the coin has plummeted over 18%.
Photo Courtesy: Christopher Sciacca on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Politics

$TRUMP

$TRX

Jamie Raskin Wants Trump To Disclose His Crypto Dinner Guest List, Says Foreigners Can't Donate Dollar But Are Buying Access To President Through Memecoin

On Wednesday, the legal battle between OpenAI and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk escalated as the ChatGPT maker urged a judge to allow its countersuit to proceed, accusing the billionaire of fraud and media manipulation.
What Happened: In a court filing, OpenAI argued that Musk's motion to dismiss its countersuit has "no grounding in facts" and should be denied, reported Reuters.
The AI firm said its claims of fraudulent business practices under California law should remain part of the upcoming expedited trial.
OpenAI's countersuit, filed in April, alleges that Musk launched a "sham" <a href="https://www.benzinga.com/media/25/02/43646042/elon-musks-97-4-billion-openai-takeover-bid-reportedly-not-received-by-chatgpt-parent-another-one-of-his-tactics-says-sam-altman">$97.4 billion takeover bid</a> through a consortium earlier this year, leaking it to the press before presenting it to OpenAI's board in an attempt to generate public attention.
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/05/45664231/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo-jensen-huang-likely-to-be-the-next-multi-trillion-dollar-industry" target="_blank" rel="noreferrer noopener">Tesla's Optimus May Be The First Humanoid Robot To Achieve High Volume And Tech Scale, Says Nvidia CEO Jensen Huang: ‘… Likely To Be The Next Multi-Trillion Dollar Industry'</a>
OpenAI also accuses Musk of engaging in a pattern of harassment against the company, asking the court to block any further &#8220;unlawful and unfair action,&#8221; reported added.
Why It's Important: Musk, who <a href="https://www.benzinga.com/25/02/43609104/elon-musk-co-founded-openai-now-hes-bidding-974b-to-take-back-the-company">co-founded OpenAI in 2015</a> but left in 2018, sued the company last year, claiming it abandoned its nonprofit mission by becoming a for-profit entity.
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.
Earlier this month, OpenAI <a href="https://www.benzinga.com/markets/25/05/45213089/openai-reverses-course-as-sam-altman-says-nonprofit-will-remain-in-control-amid-elon-musks-lawsuit-and-investor-pushback">softened its corporate control structure</a>, with CEO Sam Altman saying, "OpenAI was founded as a non-profit, is today a non-profit that oversees and controls the for-profit, and going forward will remain a non-profit that oversees and controls the for-profit."
Meanwhile, OpenAI&#8217;s plan to become a $300 billion public-benefit corporation has been facing hurdles, including demands from state regulators for independent valuations and disputes among major investors over equity.
Delaware's attorney general is reportedly <a href="https://www.benzinga.com/news/legal/25/05/45665394/openais-300-billion-public-benefit-shift-faces-scrutiny-as-delaware-ag-moves-to-hire-investment-bank-for-independent-valuation-report">bringing in an investment bank</a> to assess the nonprofit's stake in the new for-profit entity.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>. 
Photo courtesy: Svet foto / Shutterstock.com
Read Also:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45664165/amd-deepens-ai-ecosystem-with-enosemi-acquisition" target="_blank" rel="noreferrer noopener">AMD Deepens AI Ecosystem With Enosemi Acquisition</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

TSLA

OpenAI Wants Its Fraud And Media Manipulation Countersuit Against Elon Musk Kept Alive, Labels His $97.4 Billion Bid A Stunt

UP Fintech Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIGR#NASDAQ">TIGR</a>) will release its first-quarter earnings results before the <a href="https://www.benzinga.com/quote/TIGR/earnings">opening bell on Friday, May 30.</a>
On March 18, UP Fintech Holding reported fourth-quarter earnings of 17 cents per share which beat the analyst consensus estimate of 11 cents per share. The company reported quarterly sales of $124.10 million which beat the analyst consensus estimate of $97.00 million.
UP Fintech shares fell 1.3% to close at $8.43 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/WBA/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>Citigroup analyst Judy Zhang upgraded the stock from Sell to Neutral and raised the price target from $5.8 to $9.5 on March 19, 2025. This analyst has an accuracy rate of 58%.</li>
<li>China Renaissance analyst Cindy Wang upgraded the stock from Hold to Buy with a price target of $7.58 on Oct. 24, 2024. This analyst has an accuracy rate of 71%.</li>
</ul>
Considering buying TIGR stock? Here&#8217;s the earnings history of UP Fintech Holding:
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/TIGR/earnings"><img loading="lazy" decoding="async" width="1024" height="425" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220213/image-399-1024x425.png" alt="" class="wp-image-932436" style="width:615px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220213/image-399-1024x425.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220213/image-399-300x124.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220213/image-399-768x318.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29220213/image-399.png 1452w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/25/05/45667868/top-2-materials-stocks-that-are-ticking-portfolio-bombs">Top 2 Materials Stocks That Are Ticking Portfolio Bombs</a> </li>
</ul>
Photo via Shutterstock

Price Target

Pre-Market Outlook

Trading Ideas

TIGR

UP Fintech Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Leading cryptocurrencies slid on Thursday, even as the Securities and Exchange Commission dropped its lawsuit against cryptocurrency behemoth Binance.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.81%</td>
<td>$105,900.54</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.71%</td>
<td>$2,626.22</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-3.80%</td>
<td>$0.2138</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin plunged below $105,000 overnight while its trading volume rose over 15% from the previous day.
Bitcoin&#8217;s slump pushed the entire market lower, with Ethereum falling below $2,600 and Dogecoin down more than 7%.
That said, blue-chip currencies looked set to end May on a high note, with Bitcoin up 12.12% and Ethereum up almost 45% since the month began.
Meanwhile, the SEC ended its nearly two-year-long enforcement action against Binance, which alleged that the cryptocurrency exchange had violated securities law and misled customers.
Binance celebrated the legal win, thanking SEC Chair Paul Atkins and President Donald Trump.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Huge win for crypto today. The SEC's case against us is dismissed. Thank you to Chairman Atkins &amp; the Trump team for pushing back against regulation by enforcement. U.S. innovation is back on track &#8211; and it's just the beginning.
&mdash; Binance (@binance) <a href="https://twitter.com/binance/status/1928202875773034556?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Over $734 million was liquidated from the cryptocurrency market in the last 24 hours, with $628 million in long liquidations wiped out.
Bitcoin&#8217;s Open Interest tumbled 3.34% in the last 24 hours, while Ethereum recorded a 4.15% decline. Interestingly, the majority of Binance traders with open BTC positions were positioned long as of this writing.
The market correction lowered the &#8220;Greed&#8221; sentiment from 74 to 60 in the last 24 hours, as indicated by the Crypto Fear and Greed Index, implying a degree of panic.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>DeXe (DEXE)</td>
<td>+13.11%</td>
<td>$14.08</td>
</tr>
<tr>
<td>SPX6900 (SPX)</td>
<td>+9.18%</td>
<td>$1.13</td>
</tr>
<tr>
<td>Walrus (WAL)</td>
<td>+3.59%</td>
<td>$0.5616</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.36 trillion, following a decrease of 1.71% in the last 24 hours.
Stocks edged higher Thursday. The Dow Jones Industrial Average rose 117 points, or 0.28%, to end at 42,215.73. The S&amp;P 500 gained 0.40% to close at 5,912.17, while the tech-heavy Nasdaq Composite rallied 0.39% to end at 19,175.87.
The market reacted to developments around Trump's tariffs. The U.S. Court of Appeals for the Federal Circuit issued a temporary stay on the judgment of the U.S. Court of International Trade, which had <a href="https://www.benzinga.com/news/legal/25/05/45683326/trump-tariffs-temporarily-preserved-as-appeals-court-pauses-lower-ruling">previously struck down</a> a significant portion of Trump's tariffs.
Additionally, Nvidia Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) first-quarter revenue and earnings beat <a href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45668727/nvidia-stock-is-surging-thursday-whats-fueling-the-move">helped drive the market</a>. The stock rose 3.24% during the regular session.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Blockchain analytics firm CryptoQuant noted that, despite the market being less noisy, the Bitcoin Combined Market Index, which includes key indicators like the Fear &amp; Greed Index, signaled an "early recovery" in market sentiment.
"With on-chain sentiment rising and profit-taking easing, the Bitcoin Combined Market Index suggests the market may be entering an early accumulation phase," CryptoQuant added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Market Still Quiet, But BCMI Says Otherwise "With on-chain sentiment rising and profit-taking easing, BCMI suggests the market may be entering an early accumulation phase." – By <a href="https://twitter.com/Woo_Minkyu?ref_src=twsrc%5Etfw">@Woo_Minkyu</a> <a href="https://t.co/TeX3LhH8JL">pic.twitter.com/TeX3LhH8JL</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1928136618960961840?ref_src=twsrc%5Etfw">May 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely followed cryptocurrency analyst Rafaela Rigo said Bitcoin's correction was expected, and further downsides to $102,000 could be likely.
"Play safe," Rigo stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Drop from $110k to $104k completed as expected. REVERSAL is not confirmed and we could still see some more downside towards $102k &#8211; play safe Will explore charts tomorrow for spot positions, and will long when reversal is confirmed . <a href="https://t.co/9Q9bJjk8PR">https://t.co/9Q9bJjk8PR</a> <a href="https://t.co/xcfcxmdXaY">pic.twitter.com/xcfcxmdXaY</a>
&mdash; &#x2b50;RᗩᖴᗩEᒪᗩ 
</blockquote></div></figure>

Movers

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Fall Even As SEC Ends Lawsuit Against Binance: Analyst Says 'Play Safe' As Downside To $102,000 A Possibility

On Thursday, major U.S. indexes brushed off an appeals court decision to <a href="https://www.benzinga.com/news/legal/25/05/45683326/trump-tariffs-temporarily-preserved-as-appeals-court-pauses-lower-ruling">uphold Trump tariffs</a> temporarily and closed higher. The Dow Jones Industrial Average climbed 0.3% to 42,215.73, while the S&amp;P 500 and Nasdaq each advanced 0.4% to 5,912.17 and 19,175.87, respectively. These are the top stocks that gained the attention of retail traders and investors throughout the day:
Costco Wholesale Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>)
Costco&#8217;s stock slipped by 0.43%, closing at $1,008.74. The stock hit an intraday high of $1,017.54 and a low of $1,003.60, with a 52-week range of $788.20 to $1,078.23. The retailer reported <a href="https://www.benzinga.com/news/earnings/25/05/45682298/costco-q3-earnings-revenue-beat-eps-beat-comps-up-57-membership-fee-growth-and-more">third-quarter revenue</a> of $63.2 billion, surpassing analyst expectations of $63.19 billion. Adjusted earnings per share were $4.28, beating the forecast of $4.13. Membership fee growth also contributed to the positive results.
Dell Technologies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>)
Dell&#8217;s shares fell slightly by 0.12%, closing at $113.63. The stock reached an intraday high of $115.46 and a low of $111.30, with a 52-week range between $66.25 and $178.84. In the after-hours trading, the stock rose nearly 1.9%. The company reported first-quarter revenue of $23.38 billion, exceeding the consensus estimate of $23.14 billion. However, adjusted earnings per share of $1.55 missed the expected $1.69. Dell highlighted <a href="https://www.benzinga.com/news/earnings/25/05/45681613/dell-q1-earnings-revenue-beat-eps-miss-company-highlights-unprecedented-demand-for-ai-optimized-servers">unprecedented demand</a> for AI-optimized servers.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/05/45677493/litecoin-enters-smart-contract-era-with-new-layer-2-chain" target="_blank" rel="noreferrer noopener">Litecoin Enters Smart Contract Era With New Layer-2 Chain &#8211; Benzinga</a>
Marvell Technology, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>)
Marvell Technology saw its stock decline by 1.33%, closing at $63.73. The stock&#8217;s intraday high was $67.59, with a low of $63.33, and a 52-week range of $47.09 to $127.48. The shares declined 3.3% in the after-hours trading. The company <a href="https://www.benzinga.com/news/earnings/25/05/45681892/marvell-technology-stock-slips-after-q1-results-details">reported quarterly adjusted earnings</a> of 62 cents per share, slightly above the Street estimate of 61 cents. Revenue came in at $1.9 billion, beating the consensus of $1.88 billion.
Ulta Beauty, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>)
Ulta Beauty&#8217;s stock rose by 1.15%, closing at $421.79. The stock recorded an intraday high of $427.06 and a low of $414.21, with a 52-week range of $309.01 to $460.00. The company reported quarterly earnings of $6.70 per share, significantly beating the consensus estimate of $5.77. Revenue of $2.85 billion also exceeded expectations. Ulta raised its&nbsp;<a href="https://www.benzinga.com/news/earnings/25/05/45682895/ulta-beauty-stock-climbs-after-better-than-expected-q1-report-raised-fiscal-2025-outlook">fiscal 2025 outlook</a>, boosting investor confidence.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock gained 0.43%, closing at $358.43. The stock&#8217;s intraday high was $367.71, with a low of $356.00, and a 52-week range of $167.42 to $488.54. In the after-hours trading, the shares of the automaker fell nearly 1%. Tesla is experiencing its best rally of 2025, with shares up over 22% in May. The company is benefiting from <a href="https://www.benzinga.com/25/05/45668119/tesla-rides-a-bullish-wave-as-byd-slashes-prices-whos-really-winning-the-ev-war">renewed focus</a> from CEO Elon Musk, driving the stock&#8217;s strong performance.
Benzinga Edge Stock Rankings show that Costco checks out on Short, Medium and Long Price Trend. Here is how the big box store <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">ranks on other metrics</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="438" height="279" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213406/Screenshot-2025-05-30-at-10.33.48.png" alt="" class="wp-image-932408" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213406/Screenshot-2025-05-30-at-10.33.48.png 438w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213406/Screenshot-2025-05-30-at-10.33.48-300x191.png 300w" sizes="(max-width: 438px) 100vw, 438px" /></a></figure>
Photo Courtesy: Tada Images On Shutterstock.com
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
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<li><a href="https://benzinga.com/markets/25/05/45611864/trump-media-group-reportedly-plans-to-raise-3-billion-to-buy-cryptocurrencies-borrowing-a-page-from-mstr-" target="_blank" rel="noreferrer noopener">Trump Media Group Reportedly Plans To Raise $3 Billion To Buy Cryptocurrencies: &#8216;Borrowing A Page&#8217; From MSTR Playbook, Says Peter Schiff</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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

COST

DELL

MRVL

ULTA

Costco, Dell, Marvell Technology, Ulta Beauty, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) will release its fourth-quarter earnings results before the <a href="https://www.benzinga.com/quote/cgc/earnings">opening bell on Friday, May 30.</a>
Analysts expect the Smiths Falls, Canada-based company to report a quarterly loss at 20 cents per share. According to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, Canopy Growth projects to report quarterly revenue at $71.83 million.
On April 1, the company announced that it strengthened its balance sheet with early prepayment of its senior secured term loan. Canopy said it made an optional early prepayment of $100 million under its senior secured term loan. The prepayment results in interest expense savings of approximately $13 million on an annualized basis.
Canopy Growth shares fell 3.4% to close at $1.71 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/cgc/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>Zuanic &amp; Associates analyst Pablo Zuanic initiated coverage on the stock with a Neutral rating on March 27, 2025. This analyst has an accuracy rate of 50%.</li>
<li>Piper Sandler analyst Michael Lavery maintained an Underweight rating and cut the price target from $3 to $2 on July 9, 2024. This analyst has an accuracy rate of 66%.</li>
</ul>
Considering buying CGC stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="579" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213906/image-397-1024x579.png" alt="" class="wp-image-932410" style="width:592px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213906/image-397-1024x579.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213906/image-397-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213906/image-397-768x435.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29213906/image-397.png 1087w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>
Photo via Shutterstock

Canopy Growth Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

On Thursday night, President Donald Trump said that he will host Elon Musk at the White House on Friday to mark the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO's <a href="https://www.benzinga.com/25/05/45661836/tesla-stock-gains-215-after-hours-as-elon-musk-ends-doge-government-role">departure from his official role</a> leading the administration's Department of Government Efficiency.
What Happened: In a post on Truth Social, Trump said, "I am having a Press Conference tomorrow at 1:30 P.M. EST, with Elon Musk, at the Oval Office. This will be his last day, but not really, because he will, always, be with us, helping all the way. Elon is terrific! See you tomorrow at the White House."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29212545/Screenshot-2025-05-30-at-6.55.40%E2%80%AFAM-1024x297.png" alt="" class="wp-image-932398" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/25/05/45661128/ross-gerber-blasts-trump-for-destroying-nvidias-china-business-gene-munster-says-forget-about-the-china-curbs-because-the-chip-giants-co" target="_blank" rel="noreferrer noopener">Ross Gerber Blasts Trump For ‘Destroying' Nvidia's China Business — Gene Munster Says ‘Forget About The China Curbs' Because The Chip Giant's Core Business Is ‘On Fire'</a>
Why It's Important: Musk's move away from DOGE follows <a href="https://www.benzinga.com/25/05/45661836/tesla-stock-gains-215-after-hours-as-elon-musk-ends-doge-government-role">growing scrutiny over possible conflicts</a> of interest and a drop in Tesla's sales.
In an <a href="https://www.benzinga.com/tech/25/05/45637814/elon-musk-admits-he-spent-too-much-time-on-politics-after-tesla-sales-decline-in-multiple-regions">interview earlier this month</a>, the billionaire acknowledged he may have devoted a bit too much time to politics, calling his engagement with government matters a time allocation issue.
Musk's renewed focus on Tesla has reignited optimism among Wall Street analysts. Dan Ives of Wedbush Securities gave a bullish price target of $500, envisioning a potential <a href="https://www.benzinga.com/markets/equities/25/05/45557873/tesla-bull-dan-ives-thinks-elon-musks-ev-giant-could-be-entering-a-golden-era-says-2-trillion-market-cap-on-the-table">$2 trillion valuation for the company</a>.
The Tesla CEO's decision to distance himself from DOGE also comes alongside his <a href="https://www.benzinga.com/news/25/05/45635854/elon-musk-disappointed-with-trumps-big-beautiful-bill-says-it-undermines-the-work-that-the-doge-team-is-doing">disapproval of Trump's $3.8 trillion spending plan</a>, which he criticized as disappointing and detrimental to the efforts of DOGE.
Photo Courtesy: RKY Photo on Shutterstock.com
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Trump Says He Is Having Elon Musk Over At The White House Tomorrow For A Press Conference As Billionaire Exits Government: 'This Will Be His Last Day, But Not Really…'

Trade negotiations between the United States and China have reached an impasse, with both sides awaiting potential involvement from their respective leaders to break the deadlock, according to a report on Thursday.
What Happened: Trade discussions between the United States and China have encountered a slowdown. U.S. Treasury Secretary Scott Bessent indicated. He described the negotiations as &#8220;a bit stalled.&#8221;
Bessent said that achieving a final agreement might require direct input from President Donald Trump and China&#8217;s President Xi Jinping, reported Reuters.
Two weeks have passed since&nbsp;breakthrough negotiations led by Bessent&nbsp;resulted in a temporary truce&nbsp;in the ongoing trade conflict between the two largest global economies. However, Bessent mentioned to Fox News that progress has been sluggish since then.
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Despite the current stall, Bessent remains optimistic, stating that he anticipates further discussions in the upcoming weeks. The involvement of both nations&#8217; leaders is deemed crucial to push the&nbsp;deal over the finish line.
Why It Matters: The recent slowdown in trade talks comes after a series of significant developments in U.S.-China relations. Earlier this month, <a href="https://www.benzinga.com/news/global/25/05/45337811/trump-announces-total-reset-as-us-china-trade-talks-aim-to-end-tariff-war">high-level trade discussions</a> resumed in Geneva, marking the first face-to-face negotiations since the imposition of heavy tariffs by both countries. 
Trump described these talks as a &#8220;very good&#8221; meeting, expressing hope for improved Chinese receptiveness to American businesses.
However, Trump dealt a double blow to US-China relations by cutting off China&#8217;s access to key semiconductor design software and announcing plans to aggressively <a href="https://www.benzinga.com/general/education/25/05/45664141/trump-administration-to-revoke-visas-of-chinese-students-tied-to-ccp-or-critical-fields-tightens-screening">revoke visas for Chinese students</a>, particularly those in sensitive fields or linked to the Communist Party, <a href="https://edition.cnn.com/2025/05/29/china/china-us-truce-chips-student-visa-intl-hnk">reported</a> CNN.
China recently urged the U.S. to <a href="https://www.benzinga.com/markets/25/05/45664337/china-tells-us-to-entirely-revoke-wrongful-unilateral-tariffs-after-court-blocks-trumps-liberation-day-levies">revoke unilateral tariffs</a> after a U.S. federal court blocked most of Trump&#8217;s extensive tariffs. He Yongqian, a spokeswoman for China&#8217;s Ministry of Commerce, called for the U.S. to heed international and domestic voices and withdraw these measures.
Adding to the complexity, a federal appeals court <a href="https://www.benzinga.com/news/legal/25/05/45683326/trump-tariffs-temporarily-preserved-as-appeals-court-pauses-lower-ruling">temporarily preserved</a> Trump&#8217;s tariffs, granting a stay on a lower-court ruling that had invalidated a significant portion of them.
Photo Courtesy: Maxim Elramsisy On Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Scott Bessent Says US-China Trade Talks At Stalemate, Need Trump And Xi Jinping Touch To Break The Deadlock

Retiring by 40 might sound like a pipe dream—unless you're 23, just hit a scratch-off for six figures, and think the stock market is about to do you a solid.
That's the situation one young man <a href="https://www.reddit.com/r/MiddleClassFinance/s/C0eO2LnzPG">shared on Reddit's r/MiddleClassFinance subreddit</a> after his fiancée won a $200,000 lottery prize. Post taxes, they're sitting on $137,500—and they already have a plan.
"We're planning on putting roughly $50K into the S&amp;P 500. $20K into some sort of high-yielding savings account or another investment instrument. $10K on silver and gold," he wrote. The rest? A new car, bathroom remodel, dental surgery for their dog, and a little "fun money to enjoy life."
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The goal? "Financial freedom by our 30–40s." And if you've been around personal finance circles, you know the phrase: The first $100,000 is the hardest. Even Charlie Munger famously said, "The first $100,000 is a b&#x2A;&#x2A;&#x2A;&#x2A;, but you gotta do it."
So does that early head start mean they're on the <a href="https://www.benzinga.com/money/smartasset">road to financial independence</a>?
Reddit had opinions. Lots of them.
"Invest it in a low-cost index fund like [Vanguard S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voo#NYSE">VOO</a>)] and forget about it," one user advised. "Let your money work for you while you keep working."
Another chimed in saying: "You'd be surprised how fast money can go. $100K is not life-changing unless you put it into VOO or something equivalent and don't touch it until you reach your retirement number."
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But others were quick to hit the brakes.
"If they invest $100K for the next 20 years at 10% a year, they'll have about $800K," one wrote. "Not exactly financially free in your early 40s."
Another walked them through a more detailed strategy:
"Open a Fidelity account. Move the $100K. Actually invest it. Set $450/month to VOO. If you live below your means, you may be able to coastFIRE."
But the warnings came just as fast.
"My grandmother passed away. Most of her kids got $100K checks… gone within 2–3 years. They basically lived on it and weren't replacing it."
Some saw the post as grounded. Others saw fantasy. One user questioned if the couple even fit the sub's "middle class" theme, since the original poster is military and said his fiancée doesn't currently work.
"With how young they are, I'd be surprised if they <a href="https://www.benzinga.com/24/11/42173927/how-rich-are-you-find-out-whether-you-rank-as-upper-middle-or-lower-class-based-on-income-and-other-factors">were actually at middle-class income</a>," a commenter said.
Still, whether you think it's wise or wildly optimistic, the idea that $137,000 could launch an early retirement lit a fire. And if there's one thing the internet never scrolls past, it's a 23-year-old casually mapping out financial freedom before most people pay off their student loans.
But let's talk reality.
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According to <a href="https://www.westernsouthern.com/retirement/how-much-do-i-need-to-retire-at-40">Western &amp; Southern Financial Group</a>, the "golden rule" of early retirement is to have 25 times your annual expenses saved. That's the idea behind the 4% rule: you withdraw 4% of your portfolio each year and it lasts around 30 years.
But if you're retiring at 40? You're aiming to cover 50+ years—and you'll probably need more.
Let's say you expect to live on $50,000 a year. You'd need at least $1.25 million by the time you hit 40. And that's in today's dollars.
Because inflation? It doesn't care about your scratch-off dreams.
At <a href="https://www.bls.gov/opub/ted/2025/the-consumer-price-index-rose-3-0-percent-from-january-2024-to-january-2025.htm">just a 3% inflation rate</a>, that same $50,000 lifestyle could cost you closer to $90,000 a year by the time you're 60. So when Redditors raised eyebrows, it wasn't just about the car or gold—it was about whether this windfall could <a href="https://www.benzinga.com/personal-finance/24/11/42236322/ebri-study-reveals-58-of-retirees-retire-earlier-than-expected-heres-why">seriously stretch over five decades</a> of "freedom."
That's the question that lingers: is this couple being bold—or just banking too much on beginner's luck?
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