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CompoSecure

CompoSecure Inc is engaged in designing and manufacturing premium financial cards. The Company's metal payment card technology and Arculus security and authentication capabilities deliver premium branded experiences which enable people to access and use their assets, and ensure trust at the point of a transaction. Its products include Metal Cards and Arculus, a digital security platform. It has two reportable segments: Payment Card and Arculus.

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Le principali azioni da tenere d&#39;occhio nel mercato pre-apertura, con analisi delle performance recenti e delle prospettive future.

Pre-market: 5 titoli da monitorare oggi, 31 dicembre 2024

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang is reportedly preparing for a key diplomatic mission to China, where the company plans to launch a scaled-down AI chip compliant with <a href="https://www.benzinga.com/markets/asia/25/07/46266218/us-plans-to-restrict-ai-chip-exports-to-malaysia-thailand-to-curb-diversion-to-china">U.S. export restrictions</a>.
What Happened: The processor is a modified version of its Blackwell RTX Pro 6000 chip and omits advanced features such as high-bandwidth memory and NVLink, <a href="https://www.ft.com/content/e496f80f-1789-46b3-9275-a3f54344047e">reported</a> the Financial Times, citing people with knowledge of the plans.
Nvidia is expected to unveil a new AI chip tailored specifically for the Chinese market as early as September.&nbsp;
Huang is also planning to meet with top Chinese officials, including Premier Li Qiang and Vice Premier He Lifeng, during next week's International <a href="https://www.benzinga.com/markets/tech/25/06/45967009/nvidia-to-appear-at-chinas-top-supply-chain-expo-despite-escalating-us-china-chip-war-beijing-calls-participation-a-vote-of-confidence">Supply Chain Expo</a> in Beijing, the report said.
The schedules have not yet been finalized and are still awaiting approval from the Chinese side.
Read Also:&nbsp;<a href="https://www.benzinga.com/general/social-media/24/03/37879478/humble-beginnings-like-nvidia-reddit-was-founded-inside-a-restaurant" target="_blank" rel="noreferrer noopener">Humble Beginnings: Like NVIDIA, Reddit Was Founded Inside A Restaurant</a>
Why It's Important: The visit underscores <a href="https://www.benzinga.com/25/04/44830406/nvidia-to-take-55-billion-hit-over-china-chip-export-restrictions-but-top-analyst-dan-ives-says-hes-not-overly-concerned-all-part-of-the-high-game-of-poker">Nvidia's attempt to maintain</a> its $17.1 billion China business, which makes up 13% of its total revenue.
"China has one of the largest populations of developers in the world," Nvidia said in a statement to the publication, but denied saying anything about the new chip&#8217;s design. "While security is paramount, every one of those applications should run best on the U.S. AI stack."
Nvidia has changed its financial strategy after U.S. export controls blocked AI chip sales to China, causing a $2.5 billion revenue loss in the first quarter of 2025. Last month, Huang said Nvidia will <a href="https://www.benzinga.com/markets/equities/25/06/45918580/nvidia-drops-china-from-guidance-after-2-5-billion-q1-revenue-hit-ceo-jensen-huang-says-hes-not-">no longer include China</a> in its forecasts due to ongoing restrictions, calling any future China revenue a "bonus."
The company also recorded a $4.5 billion charge from excess inventory after <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">halting shipments</a> of its China-specific H20 AI chips.
On Wednesday, the chip giant briefly touched the<a href="https://www.benzinga.com/markets/tech/25/07/46326271/nvidia-breaks-4-trillion-barrier-benzinga-poll-predicted-it-first"> $4 trillion market cap</a> milestone.
Price Action: Nvidia shares are up 17.76% year-to-date and have risen 20.73% over the past 12 months. On Wednesday, the stock gained 1.80%, closing at $162.88, per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings indicate that Nvidia continues to show strong upward momentum in the short, medium and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">Additional performance details can be found 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/2025/07/10024758/Screenshot-2025-07-10-at-12.15.20%E2%80%AFPM.png" alt="" class="wp-image-979468" /></a></figure>
Photo by gguy via Shutterstock
Read More:
<ul class="wp-block-list">
<li><a href="https://benzinga.com/news/25/04/44735140/most-people-dont-have-the-balls-to-do-it-says-mark-cuban-praising-musk-for-going-all-in-with-his-own-money-f" target="_blank" rel="noreferrer noopener">‘Most People Don&#8217;t Have The B&#x2A;&#x2A;ls To Do It,&#8217; Says Mark Cuban, Praising Musk For Going ‘All In&#8217; With His Own Money For His Startups</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

Media

NVDA

Nvidia Prepares China-Specific AI Chip Amid US Export Curbs As CEO Jensen Huang Plans Beijing Visit Next Week To Reassure Market: Report

The Trump administration has filed a lawsuit against California, blaming the state&#8217;s egg regulations for the surge in egg prices across the nation.
What Happened: The Trump administration has accused California of contributing to the nationwide increase in egg prices. The administration has filed a lawsuit to challenge California&#8217;s egg production laws.
The lawsuit states, &#8220;The State of California has contributed to the historic rise in egg prices by imposing unnecessary red tape on the production of eggs
California Governor&nbsp;Gavin Newsom, Attorney General&nbsp;Rob Bonta, and other state officials have been named as defendants in the lawsuit.
The lawsuit, which was filed on Friday, targets three California laws: AB 1437, Proposition 2, and Proposition 12. The administration argues that these laws, which regulate egg production and quality, have led to a decrease in egg production, thereby driving up prices.
The lawsuit also challenges the state&#8217;s minimum-space requirements for farm animals, introduced by Proposition 12 in 2018. The administration contends that these regulations fall under the federal government&#8217;s jurisdiction, in accordance with a 1970 federal law that establishes standards for eggs and egg products.
SEE ALSO: <a href="https://benzinga.com/news/24/09/40956691/spacex-ceo-elon-musk-rains-criticism-at-wrong-person-in-his-ongoing-tirade-against-faa" target="_blank" rel="noreferrer noopener">SpaceX CEO Elon Musk Rains Criticism At Wrong Person In His Ongoing Tirade Against FAA &#8211; Benzinga</a>
Why It Matters: The surge in egg prices has been a recurring issue, with President Donald Trump attributing the problem to the Biden administration&#8217;s handling of inflation during the 2024 election.
However, there was a significant drop in egg prices with prices falling by 61% since January, as reported by Fox Business early in June. This drop in prices coincided with the Trump administration&#8217;s <a href="https://www.benzinga.com/markets/25/02/43998434/trump-team-commits-1-billion-to-combat-bird-flu-lower-egg-prices-hopefully-by-summer-says-usda">commitment </a>in February to invest $1 billion in combating the bird flu epidemic and increasing egg imports.
In April, a Clarify Capital study found that over 30% of Americans stopped buying eggs due to high prices. Analysts noted that weaker demand and fewer new bird flu cases helped bring prices down.
<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/news/politics/25/07/46256467/gavin-newsom-is-going-to-south-carolina-next-week-to-remind-rural-voters-there-they-arent-forgotten-presidential-run-in-2028-on-the-cards">Gavin Newsom Is Going To South Carolina Next Week To Remind Rural Voters There They Aren&#8217;t Forgotten, Presidential Run In 2028 On The Cards?</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Administration Sues Gavin Newsom, Other State Officials Over California's Egg Laws Driving Up Prices Nationwide: 'Unnecessary Red Tape'

The Education Department will restart interest charges on federal student loans held by 7.7 million borrowers in President Joe Biden's stalled Saving on a Valuable Education, or SAVE, repayment plan, the agency said Wednesday.
What Happened: Interest will <a href="https://www.ed.gov/about/news/press-release/us-department-of-education-continues-improve-federal-student-loan-repayment-options-addresses-illegal-biden-administration-actions">begin</a> accruing August 1, ending a year-long, court-ordered forbearance that had kept balances frozen while the administration defended the program against lawsuits from Republican-led states.
The advocacy group Student Borrower Protection Center <a href="https://protectborrowers.org/wp-content/uploads/2025/07/Memo-SAVE-Forb-Rising-Costs-and-Executive-Action.pdf">estimates</a> that the average enrollee could accrue roughly $3,500 in interest over 12 months, or approximately $300 per month. The department stated that the change is required by a February appeals court ruling that broadened an injunction to cover the entire regulation underpinning SAVE, including its interest subsidy.
Education Secretary Linda McMahon, installed under President Donald Trump, <a href="https://www.washingtonpost.com/education/2025/07/09/trump-ends-interest-subsidy-bidens-student-loan-repayment-plan/">told</a> The Washington Post that Biden had "used so-called ‘loan forgiveness' promises to win votes," but courts found those actions unlawful.
See also: <a href="https://www.benzinga.com/news/politics/25/07/46336115/as-trump-calls-for-3-percentage-point-rate-cut-too-late-jerome-powell-to-resign-june-fed-minutes-show-uncertainty-reigns-supreme">As Trump Calls For 3-Percentage Point Rate Cut, &#8216;Too Late&#8217; Jerome Powell To Resign, June Fed Minutes Show &#8216;Uncertainty&#8217; Reigns Supreme</a>
Borrowers can still postpone payments through the same forbearance, but interest will now grow unless they switch to another income-driven plan — a process slowed by a 2 million-application <a href="https://protectborrowers.org/new-court-filing-reveals-backlog-of-2-million-borrower-payment-plan-applications/">backlog</a> at loan servicers. McMahon urged borrowers to "quickly transition to a legally compliant repayment plan."
Why It Matters: The decision follows <a href="https://www.benzinga.com/news/politics/25/07/46211326/one-big-beautiful-bill-passes-senate-with-jd-vances-tie-breaking-vote-trump-says-its-going-to-go-very-nicely-in-the-house">Trump's signature last week</a> on the sweeping "One Big Beautiful Bill," which shutters SAVE to new enrollees and gives current participants until July 2028 to exit. Consumer advocates called the new interest charges a back-door way to push borrowers out sooner.
Critics also questioned the timing. The February order does not explicitly demand reinstating interest and previous department guidance told SAVE borrowers that interest would remain paused until the legal situation changes.
SAVE, unveiled in 2023, promised lower payments and faster forgiveness but has remained in <a href="https://www.benzinga.com/government/24/07/39849095/appeals-court-blocks-bidens-save-student-loan-debt-relief-plan">legal limbo</a> since a Missouri-led coalition sued, arguing Biden lacked congressional authority for the multibillion-dollar initiative.
Photo Courtesy: Pla2na on Shutterstock.com
Read next: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46335273/elizabeth-warren-says-critical-that-trumps-superhighway-of-crypto-corruption-be-shut-down">Elizabeth Warren Says Critical That Trump&#8217;s &#8216;Superhighway Of Crypto Corruption&#8217; Be Shut Down</a>

Education

General

Trump Administration Ends Interest Freeze, Linda McMohan Says Biden Used Student Loan Forgiveness To 'Win Votes'

<ul>
<li>Record Europe, Middle East and Africa (EMEA) ADV of 6.7M, up 15% in Q2 2025</li>
<li>Record Asia Pacific (APAC) ADV of 2.2M, up 30% in Q2 2025</li>
</ul>

CME Group Reported Record 9.2M Average Daily Contracts Traded Outside US In Q2 2025, Up 18% Year Over Year

CONSOLIDATED NET REVENUES (UNAUDITED)
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jun</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">May</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jun</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(NT$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">49,513</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">49,027</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">46,925</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+1.0&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+5.5&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jun</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">May</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jun</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(US$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,661</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,587</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,454</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+4.7&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+14.2&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q2</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q1</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q2</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(NT$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">150,750</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">148,153</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">140,238</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+1.8&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+7.5&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q2</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q1</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Q2</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(US$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">4,838</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">4,518</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">4,351</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+7.1&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+11.2&nbsp;%</td>
</tr>
</tbody>
</table>
</figure>

ASE Technology Reported June Revenue Of $1.66B, Up 14.2% YoY, With Q2 Revenue Rising 11.2% To $4.84B

The U.S. Senate voted to approve President Donald Trump's pick, Bryan Bedford, as the FAA Administrator.
What Happened: The Senate voted 53-43 in favor of approving Bedford, Reuters reported on Wednesday.
Bedford, who was the CEO of Republic Airways, stepped down last week after 25 years at the company following Trump's nomination, the report suggests. Bedford has been approved for a five-year term.
Why It Matters: The news comes as Bedford's nomination has been slammed by Democrats, with Sen. Chuck Schumer (D-N.Y.) saying that the administration is prioritizing profits over passenger safety, as Bedford's commitment to upholding the <a href="https://www.benzinga.com/news/politics/25/07/46311783/chuck-schumer-slams-trumps-faa-chief-pick-bryan-bedford-over-1500-hour-rule-he-will-weaken-safety-standards">1,500-hour flight training rule</a> has been put into question.
Bedford, meanwhile, has said that the U.S.'s Air Traffic Control system needs "<a href="https://www.benzinga.com/news/politics/25/06/45876762/trumps-faa-nominee-says-significant-investment-needed-to-upgrade-air-traffic-control-report">significant investment</a>" as the FAA has dealt with outages as well as staff shortages. He will oversee the Trump administration's $12.5 billion allocation to revamp the ATC tech.
Elsewhere, the agency has said that it is <a href="https://www.benzinga.com/news/space/25/07/46335831/spacexs-starlink-undergoes-widespread-faa-testing-to-improve-air-traffic-control-systems-report">ramping up testing</a> of Elon Musk's Starlink internet service at 41 facilities in the U.S. in a bid to bolster the aging system.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/space/25/07/46312510/elon-musks-spacex-insider-share-sale-could-push-valuation-to-400-billion-starlink-is-the-rocket-fuel">Elon Musk&#8217;s SpaceX Insider Share Sale Could Push Valuation To $400 Billion—Starlink Is The Rocket Fuel</a></li>
</ul>
Photo courtesy: Chad Robertson Media / Shutterstock.com

Politics

Senate Confirms Trump Pick Bryan Bedford As FAA Chief Even As Chuck Schumer Warns He Will Prioritize 'Profits Over Passenger Safety'

OpenAI Inc. has recruited Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) director of data center engineering as the artificial intelligence company bolsters its physical infrastructure capabilities amid a $6.4 billion acquisition of designer Jony Ive&#8217;s hardware startup.
What Happened: Spas Lazarov, who spent nearly 11 years at Apple overseeing data center operations across North America, Europe, and Asia, joined OpenAI as a technical staff member, according to a Wednesday announcement by OpenAI President Greg Brockman on X. Brockman confirmed the company is &#8220;building out our physical infrastructure team&#8221; with multiple new hires.
<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">we&#39;re also building out our physical infrastructure team — welcome to many amazing new team members! <a href="https://t.co/U7ONoYRkRQ">https://t.co/U7ONoYRkRQ</a>
&mdash; Greg Brockman (@gdb) <a href="https://twitter.com/gdb/status/1943043253009551608?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Prior to Apple, Lazarov worked for 26 years at General Electric Co., including as director of critical power systems engineering. He serves on the global advisory council at Infrastructure Masons, an industry group focused on data center development.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46335864/oracle-stock-gains-as-30-billion-ai-cloud-deals-mark-pivotal-moment-in-race-against-rivals-jefferies-calls-it-a-hyperscale-leap-amid-trump-backed-stargate-push">Oracle Stock Gains As $30 Billion AI Cloud Deals Mark &#8216;Pivotal Moment&#8217; In Race Against Rivals — Jefferies Calls It A Hyperscale Leap Amid Trump-Backed Stargate Push</a>
Why It Matters: The hire coincides with OpenAI&#8217;s completed acquisition of io Products Inc., Ive&#8217;s design startup, for approximately $6.4 billion in <a href="https://www.benzinga.com/markets/tech/25/07/46335969/openai-finalizes-6-5-billion-deal-to-acquire-jony-ives-ai-hardware-startup-heres-what-we-know-about-their-first-device">an all-stock transaction announced in May</a>. 
The deal integrates Ive&#8217;s 15-person LoveFrom industrial design team into OpenAI&#8217;s San Francisco operations, where engineers plan to develop <a href="https://www.benzinga.com/news/topics/25/07/46247705/i-still-feel-responsibility-says-ex-apple-executive-sir-jony-ive-pledging-to-fix-techs-harms-with-6-4-billion-ai-device">custom silicon for natural voice dialogue systems</a>.
The hardware initiative represents OpenAI&#8217;s push beyond software as annual recurring revenue climbed to $10 billion from $5.5 billion in 2024, according to company statements. The Pentagon awarded OpenAI a $200 million contract this month to <a href="https://www.benzinga.com/news/topics/25/07/46247705/i-still-feel-responsibility-says-ex-apple-executive-sir-jony-ive-pledging-to-fix-techs-harms-with-6-4-billion-ai-device">prototype AI tools</a>.
TF International Securities analyst Ming-Chi Kuo expects the screen-free device to resemble a neck-worn iPod Shuffle with microphones and cameras. OpenAI CEO Sam Altman described the prototype as &#8220;unobtrusive&#8221; and &#8220;fully aware&#8221; of surroundings, <a href="https://www.benzinga.com/news/topics/25/07/46247705/i-still-feel-responsibility-says-ex-apple-executive-sir-jony-ive-pledging-to-fix-techs-harms-with-6-4-billion-ai-device">designed to function without traditional screens</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: jamesteohart / Shutterstock.com

Equities

AAPL

Apple's Data Center Chief Joins OpenAI As Sam Altman, Jony Ive Team Up In $6.4 Billion 'io' Deal

Shares of Thumzup Media Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TZUP#NASDAQ">TZUP</a>) are trading higher in Wednesday's after-hours trading after the company expanded its cryptocurrency treasury beyond Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What happened: The firm's board permitted the accumulation of other coins, specifically Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>).
The latest initiative expands on Thumzup&#8217;s existing Bitcoin acquisition strategy, which allows it to have up to 90% of its liquid assets in the apex cryptocurrency.
According to Bitcoin Treasuries, the company <a href="https://bitcointreasuries.net/">holds </a>19 BTC as of this writing, worth $2 million at prevailing prices.
See Also:<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46149584/why-crypto-investors-are-receiving-internal-revenue-service-warning-letters"> </a><a href="https://www.benzinga.com/crypto/25/07/46335745/bitcoin-hits-historic-high-above-112000-noted-investor-says-if-you-cant-beat-it-you-have-to-buy-it">Bitcoin Hits Historic High Above $112,000, Noted Investor Says &#8216;If You Can&#8217;t Beat It, You Have To Buy It&#8217;</a>
Thumzup also disclosed in an SEC filing that Donald Trump Jr., the co-founder of cryptocurrency firm World Liberty Financial, holds 350,000 shares of the company, worth $3.71 million.
Price Action:&nbsp; Shares of Thumzup were up 13.7% in after-hours trading after closing 24.6% lower at $9.320&nbsp;during Wednesday's regular trading session, 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>. Year-to-date, the stock has soared over 176%.
The TZUP stock demonstrated a very high momentum score—a measure of the stock&#8217;s relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. Visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> to see how it compares against the world&#8217;s largest Bitcoin treasury company, Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</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="436" height="187" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10020941/image-106.png" alt="" class="wp-image-979411" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10020941/image-106.png 436w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10020941/image-106-300x129.png 300w" sizes="(max-width: 436px) 100vw, 436px" /></a></figure>
Photo Courtesy: Svet foto on Shutterstock.com
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$DOGE

$ETH

$LTC

$SOL

$USDC

$XRP

MSTR

TZUP

Thumzup Media Shares Spike 13% After Hours As Company Adds XRP, DOGE And These Coins To Treasury Along With Bitcoin

Taiwan Semiconductor's June Revenue Hit NT$263.71B ($8.3B), Up 26.9% YoY, With YTD Revenue Climbing 40% To NT$1.77T ($55.8B)

As the minutes of the Federal Reserve&#8217;s June meeting were released on Wednesday, the word &#8220;uncertainty&#8221; reigned supreme amid the ongoing tariff turmoil and President Donald Trump&#8216;s call to cut rates by 3 percentage points.
What Happened: The words &#8220;uncertain&#8221; and &#8220;uncertainty&#8221; appeared 28 times in the June 17-18 meeting minutes, and Fed Chair Jerome Powell mentioned the two words 19 times, as highlighted by Ed Yardeni from Yardeni Research.
&#8220;Most of the uncertainty faced by Fed officials has to do with Trump&#8217;s Tariff Turmoil (TTT). Collectively, they are leaning toward lowering the federal funds rate. But they are in no hurry to do so since they are worried that TTT might still boost inflation,&#8221; he said.
Meanwhile, the chief economist at LPL Financial, Jeffrey Roach, said that the key takeaways from the Federal Open Market Committee&#8217;s June 18 policy meeting suggested &#8220;The FOMC is comfortable remaining in wait-and-see mode. Despite headwinds, the economy continues to trudge along, giving policymakers time to assess the projected impact from tariffs.&#8221;
This comes amid Trump&#8217;s call for slashing the interest rates by 3%, highlighting that Powell was "Too Late" and it &#8220;is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs.&#8221;
<figure class="wp-block-image size-full"><a href="https://truthsocial.com/@realDonaldTrump/posts/114823635614745836"><img loading="lazy" decoding="async" width="678" height="205" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10020019/Trump-truth-social-fed.png" alt="" class="wp-image-979391" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10020019/Trump-truth-social-fed.png 678w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10020019/Trump-truth-social-fed-300x91.png 300w" sizes="(max-width: 678px) 100vw, 678px" /></a></figure>
Trump has hinted at announcing Powell&#8217;s replacement and called for his <a href="https://www.benzinga.com/news/politics/25/07/46237506/trump-says-jerome-powell-should-resign-immediately-after-fhfa-director-alleges-fed-chair-lied-about-2-5-billion-renovation-plan">resignation</a> on multiple occasions because of the Fed&#8217;s &#8220;wait-and-see&#8221; stance.
On Wednesday, Trump also imposed <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46334793/trump-sends-lula-a-letter-imposing-50-tariffs-calls-bolsonaro-trial-a-witch-hunt-brazils-president-hits-back-will-not-accept-any-form-of-tutelage">50% tariffs on Brazil</a>, escalating the trade tensions between the two nations. This was followed by a slew of letters posted on his Truth Social account to Japan, South Korea and other countries, with a deadline of making a deal by Aug. 1.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46313514/warren-buffetts-quiet-dividend-play-9-high-yield-stocks-held-by-a-berkshire-subsidiary">Warren Buffett&#8217;s Quiet Dividend Play: 9 High-Yield Stocks Held By A Berkshire Subsidiary</a>
Why It Matters: According to the Fed Minutes takeaways, the FOMC members were also concerned about stagflation risks if inflation proved persistent while employment weakened.
&#8220;Surprisingly, members thought the uncertainty about inflation and the economic outlook had decreased. Yet, committee members wanted to take a careful approach in adjusting monetary policy,&#8221; said Roach.
The FOMC members also acknowledged that lower and moderate-income households were switching to lower-cost items, and these households could be disproportionately affected by tariff-related price increases.
Roach added that at LPL, they expect next week's inflation data to show a reacceleration, giving the Fed more reason to keep rates elevated. &#8220;We don't expect inflation readings will improve until later this year,&#8221; he added.
Price Action: U.S. stocks climbed Wednesday, buoyed by Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares soaring to an unprecedented $4 trillion market capitalization and a fresh all-time high, pushing the Nasdaq to close at a record high.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, ended higher on Wednesday. The SPY was up 0.60% at $624.06, while the QQQ advanced 0.71% to $556.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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Photo courtesy: Domenico Fornas / Shutterstock.com

Economics

As Trump Calls For 3-Percentage Point Rate Cut, 'Too Late' Jerome Powell To Resign, June Fed Minutes Show 'Uncertainty' Reigns Supreme

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index moved to the &#8220;Extreme Greed&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the Dow Jones index gaining more than 200 points during the session as investors shrugged off fresh trade uncertainty after the White House delayed the start of new tariffs to Aug. 1, raising hopes for new rounds of negotiations.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) grabbed headlines once again, with its market capitalization hitting $4 trillion, solidifying its lead as the world&#8217;s most valuable company. According to the Financial Times, Nvidia is planning to launch a new AI chip designed specifically for China as soon as September.
On the economic data front, U.S. wholesale inventories declined by 0.3% month-over-month to $905.5 billion in May in line with the preliminary estimate and compared to a 0.1% increase in the previous month.
Most sectors on the S&amp;P 500 closed on a positive note, with information technology, utilities and communication services stocks recording the biggest gains on Wednesday. However, energy and consumer staples stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by 218 points to 44,458.30 on Wednesday. The S&amp;P 500 rose 0.61% to 6,263.26, while the Nasdaq Composite gained 0.94% to 20,611.34 during Wednesday's session.
Investors are awaiting earnings results from Conagra Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>), Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 75, the index moved to the &#8220;Extreme Greed&#8221; zone on Wednesday, versus a prior reading of 74.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Photo courtesy: Shutterstock

HELE

S&P 500 Surges Amid Rise In Nvidia Shares: Investor Sentiment Improves, Fear & Greed Index Moves To 'Extreme Greed' Zone

OpenAI has finally completed its <a href="https://www.benzinga.com/tech/25/05/45640879/openais-sam-altman-says-6-5b-deal-with-jony-ive-to-build-ai-companions-could-add-1-trillion-in-company-value-report">$6.5 billion acquisition</a> of Jony Ive's AI hardware startup io Products, officially bringing the former Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) design chief and his team into the fold to build a new generation of AI-native devices.
What Happened: On Wednesday, OpenAI updated, saying the deal has "officially closed."
While Ive's design firm, LoveFrom, will remain independent, it will take on "deep design and creative responsibilities" at OpenAI going forward.
<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">The io Products, Inc. deal has officially closed and we're thrilled to welcome the team to OpenAI. Jony Ive &amp; LoveFrom remain independent. They'll have deep design &amp; creative responsibilities across OpenAI.<a href="https://t.co/mxZIdAyi5x">https://t.co/mxZIdAyi5x</a>
&mdash; OpenAI (@OpenAI) <a href="https://twitter.com/OpenAI/status/1942997166060114166?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to the available reports, the first product will not be a wearable or in-ear device, but rather something that sits in your pocket or on your desk.
See Also:&nbsp;<a href="https://www.benzinga.com/25/05/45364850/mark-zuckerberg-once-set-up-brooklyn-nine-nine-star-andy-sambergs-facebook-account-then-personally-helped-him-with-tech-support-when-things-went-a-bit-haywire" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Once Set Up A Facebook Account For Brooklyn Nine-Nine Star Andy Samberg, Then Personally Played Tech Support When Things Went A Bit Haywire</a>
The rumored pocket-sized gadget will reportedly be context-aware, offering screen-free interactions by understanding the user's environment and behavior, <a href="https://www.macrumors.com/2025/06/24/jony-ive-openai-device-wont-be-wearable/">reported</a> MacRumors.
Why It's Important: Previously, it was reported that the io acquisition brings on board about <a href="https://www.benzinga.com/news/topics/25/06/45746669/jony-ive-described-by-sam-altman-as-the-greatest-designer-in-the-world-joins-openai-in-6-5b-deal-to-build-a-totally-new-kind-of-thing">55 engineers and designers</a> from Apple and LoveFrom, including Tang Tan, Evans Hankey and Scott Cannon — all key figures behind the creation of the iPhone, Apple Watch and other flagship devices.
The acquisition was <a href="https://www.benzinga.com/tech/25/05/45602719/openais-acquisition-of-jony-ives-startup-poses-threat-to-apples-dominance">first announced in May</a>, with OpenAI CEO Sam Altman and Ive unveiling plans to develop new AI hardware that moves beyond legacy interfaces like smartphones and laptops.
After the acquisition was announced, Gene Munster, managing partner at Deepwater Asset Management, said that OpenAI represents the first significant competitive threat <a href="https://www.benzinga.com/news/25/05/45599511/apple-faces-first-serious-threat-in-20-years-as-openai-acquires-iphone-makers-former-design-chief-jo">to Apple in two decades</a>.
However, last month, ​​<a href="https://www.benzinga.com/markets/tech/25/06/46045144/openai-scrubs-jony-ive-deal-from-website-after-trademark-lawsuit-threatens-6-5-billion-io-products-acquisition">OpenAI removed all public</a> materials about its acquisition after IYO Inc. filed a trademark lawsuit claiming the "IO" name infringes on its intellectual property.
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Photo courtesy: Svet foto / Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

OpenAI Finalizes $6.5 Billion Deal To Acquire Jony Ive's AI Hardware Startup—Here's What We Know About Their First Device

Reported Earlier, Laird Superfood Expands Functional Coffee Line With USDA Organic Whole Bean And Swiss Water Process Decaf Options Featuring Adaptogenic Mushrooms

Reported Earlier, Telix Gains CMS Approval Of Permanent Billing Code For Gozellix, Supporting Clinical Use In Prostate-Specific Membrane Antigen PET Scanning

Oracle Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) cloud-services agreements have positioned the company as a leading force in the hyperscale cloud industry, according to analysts. The deals, which could add over $30 billion in yearly revenue by 2028, have sparked optimism about Oracle&#8217;s long-term growth prospects.
What Happened: In a regulatory filing last week, Oracle announced a series of significant cloud services agreements. These agreements, including one expected to generate over $30 billion in yearly revenue&nbsp;starting in fiscal year 2028, have been described as a &#8220;pivotal moment&#8221; in the company&#8217;s transition to a hyperscale cloud power, <a href="https://www.marketwatch.com/story/oracles-stock-is-a-standout-in-the-software-sector-these-analysts-say-heres-why-657de921">reported</a> MarketWatch.
Analysts at Jefferies, led by Brent Thill, highlighted Oracle as a standout among large-cap software companies. The company is positioned to more than double its remaining performance obligations (RPO) while also speeding up its overall revenue growth. 
Analysts view these developments as a major turning point in Oracle's cloud strategy, with the potential to shift investor discussions around backlog growth, the timing of revenue acceleration, and the company's ability to capitalize on large-scale AI demand.
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46329995/bitcoin-holds-109000-as-ethereum-xrp-dogecoin-attempt-to-break-higher" target="_blank" rel="noopener">Bitcoin Holds $109,000 As Ethereum, XRP, Dogecoin Attempt To Break Higher &#8211; Benzinga</a>
Although the deals will not impact revenue in fiscal year 2026, they're expected to improve Oracle's visibility into long-term sales trends and reinforce its position as a hyperscaler capable of landing massive contracts.
Why It Matters: Earlier in July, Oracle made headlines when it <a href="https://www.benzinga.com/markets/tech/25/07/46241424/openais-4-5-gw-lease-from-oracle-fuels-stargates-500-billion-vision">agreed to lease 4.5 gigawatts of computing power</a> to OpenAI, a key player in the AI industry. This lease was part of the $500 billion Stargate project for artificial intelligence data centers and infrastructure, which was announced by President Donald Trump. 
Oracle&#8217;s position in the AI industry was further bolstered when it offered <a href="https://www.benzinga.com/markets/tech/25/07/46270569/oracle-offers-deep-discounts-to-us-government-on-ai-cloud-and-database-tools-report">deep discounts on its AI, cloud, and database tools to the U.S. government</a>. This strategic move not only strengthened Oracle&#8217;s relationship with a major client but also showcased its commitment to becoming a key player in the AI sector.
Despite Oracle&#8217;s successes, it faces stiff competition in the AI infrastructure sector. <a href="https://www.benzinga.com/markets/equities/25/07/46291765/coreweave-ceo-bets-on-custom-built-software-stack-to-outpace-rivals-but-calls-oracle-a-formidable-competitor">CoreWeave CEO Michael Intrator acknowledged Oracle as a strong rival</a> in the AI infrastructure sector, emphasizing the importance of CoreWeave&#8217;s unique selling point in differentiating itself from Oracle.
Price Action: Oracle closed at $235.81 on Wednesday, up 0.56%, and edged to $235.90 after hours. The stock is up 42.03% year to date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Rokas Tenys via Shutterstock

ORCL

Oracle Stock Gains As $30 Billion AI Cloud Deals Mark 'Pivotal Moment' In Race Against Rivals — Jefferies Calls It A Hyperscale Leap Amid Trump-Backed Stargate Push

Macro Economic Events

Econ #s

Germany Consumer Price Index (MoM) For June 0.1% Vs. 0.0% Est.; 0.1% Prior

Germany Consumer Price Index (YoY) For June 2.0% Vs. 2.0% Est.; 2.1% Prior

ATMC

Reported Earlier, AlphaTime Acquisition Corp Regains Nasdaq Compliance After Market Transfer, Effective July 11

Billionaire hedge-fund manager Bill Ackman's wildcard doubles debut lasted just 63 minutes Wednesday as Australians Omar Jasika and Bernard Tomic routed Ackman and former Grand Slam champion Jack Sock 6-1, 7-5 in the first round of the ATP's Hall of Fame Open.
What Happened: The 59-year-old Pershing Square founder had hoped to become the oldest player to earn ATP ranking points, but his serve faltered early and the underdogs raced through the opening set in 21 minutes, as per a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-07-09/bill-ackman-s-quest-for-pro-tennis-win-falls-short-in-early-exit">report</a>.
Ackman did land a handful of crisp volleys, yet Sock's baseline rescue attempts could not force a decider.
Played on the historic lawns beside the International Tennis Hall of Fame, Newport's week-long tournament is the lone U.S. men's grass event and one of the tour's oldest stops, dating to 1881. Next season, it becomes a combined ATP-WTA 125 showcase offering equal prize money.
See also: <a href="https://www.benzinga.com/markets/tech/25/07/46335539/elon-musk-asked-dan-ives-to-shut-up-and-the-tesla-bull-says-thats-cool-heres-why">Elon Musk Asked Dan Ives To &#8216;Shut Up&#8217; And The Tesla Bull Says &#8216;That&#8217;s Cool&#8217;: Here&#8217;s Why</a>
Why It Matters: Ackman <a href="https://www.benzinga.com/news/sports/25/07/46253533/bill-ackman-swaps-wall-street-for-tennis-court-and-he-is-playing-to-win-you-never-know">secured the spot</a> after Sock's original partner withdrew. Critics quickly pounced. Vero Beach Futures director Randy Walker blasted the match on X as "the absolute worst professional tennis match I have ever seen."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I just watched the absolute worst professional tennis match I have ever seen&#8230;. Bernie Tomic and Omar Jasika def. Bill Ackman and Jack Sock 6-1, 7-5 at the Hall of (Fame?) Open Challenger in Newport, RI
&mdash; Randy Walker (@TennisPublisher) <a href="https://twitter.com/TennisPublisher/status/1943022291752976663?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Social-media jeers noted Ackman's name appears in none of the U.S. Tennis Association's competitive databases, while others mocked the hedge-fund star for chasing points without first grinding the lower circuits, as <a href="https://www.forbes.com/sites/yezensaadah/2025/07/09/absolute-worst-bill-ackmans-pro-tennis-debut-defeat-stirs-social-media-backlash/">noted</a> in a Forbes report. Supporters countered that the stunt drew near-sell-out crowds on a day when Wimbledon dominated headlines.
Ackman, who has poured millions into junior tennis philanthropy, has not said whether he will seek another tour wildcard. Sock is focusing on Major League Pickleball but hinted he may accept future doubles invites if the "right opportunity" arises.
For now, Newport's attention returns to its traditional draw and to the debate over whether celebrity money should ever eclipse merit on center court.
Photo Courtesy: Andrew Angelov on Shutterstock.com
Read next: <a href="https://www.benzinga.com/news/financing/25/07/46335189/melinda-french-gates-reveals-why-she-wont-fund-her-daughters-startup-says-others-should-back-it-if-its-a-real-business">Melinda French Gates Reveals Why She Won&#8217;t Fund Her Daughter&#8217;s Startup, Says Others Should Back It If Its A &#8216;Real Business&#8217;</a>

Sports

Bill Ackman Draws Near-Sell-Out Crowd But Also Social Media Scorn After Lopsided Loss In Newport Tennis Doubles Debut

The Federal Aviation Administration, or FAA, has ramped up testing of SpaceX's Starlink satellite-based internet service as the agency hopes to improve the Air Traffic Control System.
What Happened: The agency is currently testing over 41 Starlink connections at facilities across the U.S., Bloomberg reported <a href="https://www.bloomberg.com/news/articles/2025-07-09/faa-ramps-up-testing-of-musk-s-starlink-at-agency-facilities">on</a> Wednesday. The facilities include 2 in New Jersey, 28 in Alaska and over 11 in Oklahoma, the report suggests.
FAA says that it is using the system in Alaska "to restore stable access to weather information for pilots and the FAA's flight services stations." In the Oklahoma and Atlantic City facilities, the FAA could also consider installing wireless technology, the report said.
The agency made the decision as the previous systems experienced outages in the Philadelphia facility, leaving Air traffic control unable to communicate and guide pilots in and out of the Newark Airport in New Jersey, the report suggests.
Why It Matters: The news comes as there has been significant talk over updating the dated ATC technology, with the Trump administration's pick for the FAA administrator, Bryan Bedford, saying that the system needs "<a href="https://www.benzinga.com/news/politics/25/06/45876762/trumps-faa-nominee-says-significant-investment-needed-to-upgrade-air-traffic-control-report">significant investment</a>" to improve the technology.
However, Sen. Chuck Schumer (D-N.Y.) <a href="https://www.benzinga.com/news/politics/25/07/46311783/chuck-schumer-slams-trumps-faa-chief-pick-bryan-bedford-over-1500-hour-rule-he-will-weaken-safety-standards">slammed the Trump administration</a> and Bedford as the senator believes the administration would "prioritize profits over passenger safety" by axing the 1,500 hours of training currently required for aircraft pilots to obtain their license.
The FAA also said it was considering <a href="https://www.benzinga.com/general/travel/25/05/45341520/faa-mulls-cutting-flights-at-newark-airport-amid-staffing-woes-and-equipment-failures-report">scaling back operations</a> at the Newark airport due to the ATC losing communications with aircraft pilots due to the technology, as well as staff shortages.
Elsewhere, Elon Musk&#8216;s SpaceX could be <a href="https://www.benzinga.com/news/space/25/07/46312510/elon-musks-spacex-insider-share-sale-could-push-valuation-to-400-billion-starlink-is-the-rocket-fuel">valued at over $400 billion</a>, as the latest fundraising efforts see the company selling off insider shares. The valuation is reportedly driven by Starlink and the company&#8217;s advancements in commercial space flight with its Starship spacecraft.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/news/politics/25/06/46133937/boeing-787-dreamliner-crash-india-shuts-door-on-un-aviation-expert-probing-plane-accident">Boeing 787 Dreamliner Crash: India Shuts Door On UN Aviation Expert Probing Plane Accident</a></li>
</ul>
Photo courtesy: Shutterstock

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