If Elon Musk ever writes a self-help book, chapter one might be titled "Insult First, Pitch Later." Because when it comes to Warren Buffett, Musk has made one thing abundantly clear: he's not a fan of the whole "sit around and read reports" lifestyle — but he would like Buffett to write a <a href="https://www.benzinga.com/personal-finance/25/05/45301579/elon-musk-says-we-didnt-come-up-with-the-name-tesla-bought-it-for-75k-after-sending-the-nicest-guy-to-camp-out-at-the-owners-doorstep">very big check to Tesla</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).



It all started in 2020 when Musk dropped by <a href="https://youtu.be/RcYjXbSJBN8?si=Ss_6KDL5Cpdm2PE2">"The Joe Rogan Experience"</a> and casually roasted Buffett's day job. "To be totally frank, I'm not his biggest fan," Musk said. "He does a lot of capital allocation. He reads a lot of annual reports of companies and all the accounting — and it's pretty boring, really."



Musk didn't stop there. In the same breath, he threw shade at the entire financial and legal profession, saying, "We should have fewer people doing law and fewer people doing finance, and more people making stuff."



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Later that year, Musk doubled down in a <a href="https://www.nytimes.com/2020/07/25/style/elon-musk-maureen-dowd.html">New York Times interview</a> with Maureen Dowd during a round of "Confirm or Deny." When prompted with, "Warren Buffett is overrated," Musk didn't give a straight answer. Instead, he laughed and said, "Hahaha. Um, I think he has managed to create a great image for himself as a <a href="https://www.benzinga.com/personal-finance/25/02/43496879/elon-musk-said-warren-buffett-managed-to-create-a-great-image-as-a-kindly-grandfather-but-thinks-thats-maybe-overstating-the-case">kindly grandfather, which is maybe overstating the case</a>."



Then came 2021, when Time named Musk its Person of the Year — and gave him another chance to repeat himself with more flair. "I'm not Warren Buffett's biggest fan, frankly," he <a href="https://youtu.be/PbVSZvC7UxY?si=nKLe8-6PVPNJMVkQ">said in the interview</a>. "He sits there and reads all these annual reports, which are super boring." Musk added, "Does anybody want that job? I think most people do not. I don't want that job."



Still, even while dragging Buffett's job description, Musk couldn't deny the value Buffett brings to the table. "He's not engaged in insane, conspicuous consumption. So you have to say, ‘Sure, he's got a high net worth, but he's doing a useful job for the economy, and he's very skilled at it and should probably keep doing it.'"



Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.&nbsp;</a>



And just to make sure no one thought his criticism was new, Musk's Buffett commentary dates all the way back to Tesla's 2018 earnings call, when he mocked Buffett's investment philosophy around "moats" — the idea of protecting a company with a durable competitive edge. "First of all, I think moats are lame," Musk declared. "They're nice in a sort of quaint, vestigial way. But if your only defense against invading armies is a moat, you will not last long. What matters is the pace of innovation."



Buffett, of course, didn't take the bait. During the 2018 Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)) shareholder meeting, he responded with Buffett-esque calm and candy-coated sarcasm: "Certainly you should be working on improving your own moat and defending your own moat all the time. And Elon may turn things upside down in some areas. I don't think he'd want to take us on in candy."



But fast forward a few years, and Musk — despite all the digs — wanted Buffett to do what he does best: invest. "He should take a position in Tesla. It's an obvious move," Musk <a href="https://x.com/elonmusk/status/1787325206677401672">posted on X last year</a>, replying to a user who suggested Berkshire Hathaway ditch its $135 billion Apple stake and go all-in on Tesla instead.



See Also: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — <a href="https://www.benzinga.com/money/americans-spend-1000-per-year-on-plastic-water-bottles-kara-pod-gives-you-clean-drinking-water-by-pulling-moisture-from-the-air">And You Can Invest At Just $6.37/Share</a>



Timing-wise, the comment landed just after Berkshire's annual shareholder meeting, where Buffett revealed the company had trimmed its Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) position by about 10%. For context, Buffett and the late Charlie Munger had long expressed skepticism toward the auto industry, calling it capital-intensive and brutally competitive. But they weren't completely closed off to EVs — Berkshire has held a stake in <a href="https://www.benzinga.com/startups/25/10/41120804/574616">Chinese EV giant BYD since 2008</a>.



Still, Musk seemed to carry a grudge — or at least a long memory. In a February 2022 X post, he <a href="https://www.benzinga.com/startups/25/02/43531005/elon-musk-recalls-a-lunch-where-charlie-munger-listed-all-the-reasons-tesla-would-fail-made-me-quite-sad-but-i-told-him-i-agreed">revisited a meeting with Munger over a decade ago</a>. "I was at a lunch with Munger in 2009 where he told the whole table all the ways Tesla would fail," Musk wrote. "Made me quite sad, but I told him I agreed with all those reasons and that we would probably die, but it was worth trying anyway."



So, to recap: Musk thinks Buffett's job is painfully boring, thinks Buffett's investment philosophy is outdated, isn't his "biggest fan" — but also really wants Buffett's backing. If nothing else, Musk has mastered the art of keeping his frenemies close… and maybe within investing range.



Read Next: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.



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Elon Musk Said He's Not Warren Buffett's 'Biggest Fan' And Finds His Job 'Super Boring' — But Also Really Wanted Him To Invest In Tesla

Former Secretary of State John Kerry says fellow Democrats let the U.S.–Mexico border fall "under siege," conceding in an interview that "Trump was right" about the need to enforce immigration laws.



What Happened: Speaking <a href="https://www.bbc.com/news/articles/cr4wk52rwqpo">with</a> BBC correspondent James Naughtie, the 2004 Democratic presidential nominee said he had warned former President Joe Biden that the party had "missed&#8221; on the issue of immigration for years.



"The first thing any president should say … is, &#8216;without a border protected, you don't have a nation,'" Kerry added, lamenting that Biden was not heard often enough promising strict enforcement.



Kerry's remarks come as illegal border crossings have plunged to near-record lows during President Donald Trump's second term. U.S. Customs and Border Protection <a href="https://www.cbp.gov/newsroom/national-media-release/cbp-releases-march-2025-monthly-update">logged</a> just 7,181 Southwest apprehensions in March, a 95% drop from a year earlier under Biden. The agency reported zero migrant <a href="https://www.cbp.gov/newsroom/national-media-release/cbp-releases-may-2025-monthly-update">releases</a> in May after Trump ended most asylum processing.



See Also: <a href="https://www.benzinga.com/news/politics/25/07/46360429/mike-pence-says-trumps-tariff-escalations-with-us-allies-are-like-dismissing-your-front-line-in-a-football-game">Mike Pence Says Trump&#8217;s Tariff Escalations With US Allies Are Like &#8216;Dismissing Your Front Line In A Football Game&#8217;</a>



Asked if Trump would seize on the comments as vindication, Kerry replied, "He was right. The problem is we all should have been right."



Why It Matters: The former climate envoy said Democrats' hesitation opened a political advantage for the Republicans.



Republicans defend the crackdowns as integral to <a href="https://www.benzinga.com/news/politics/25/07/46284121/trumps-45-billion-immigration-policy-supercharges-profits-for-private-prisons-under-big-beautiful-bill">Trump's $45 billion detention surge</a> authorized in the "One Big Beautiful Bill," which also expanded private-prison profits. Democrats counter that aggressive tactics mirror the family-separation furor of Trump's first term and say Biden's <a href="https://www.benzinga.com/government/24/06/39144853/biden-to-sign-executive-order-to-limit-asylum-seekers-crossing-us-mexico-border-report">tougher stance</a> late in his presidency was already cutting crossings.



Kerry's unusually blunt critique highlights a widening Democratic anxiety that immigration remains Trump's strongest issue heading into the 2026 midterms.



Photo Courtesy: Alexandros Michailidis on Shutterstock.com



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John Kerry Says 'Trump Was Right' About The Border And It Was Joe Biden That 'Missed' On Immigration Issue

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener"> many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.



U.S. markets closed this week at record highs, driven by Nvidia (NASDAQ: NVDA) surpassing a $4 trillion market cap — the first ever, marking a historic milestone — amid easing global tensions and broad AI enthusiasm. President Donald Trump's trade rhetoric intensified, with new 50% tariffs planned on copper and Brazilian goods, but markets remained resilient, betting on eventual policy moderation.



Key sectors like airlines and materials also saw gains, while Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) remained under pressure due to Elon Musk's political activities. Gold and the dollar steadied alongside Treasury yields.



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.







The Bulls



<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46321541/nvidia-hits-4-trillion-market-cap-stock-surges-to-all-time-high">"Nvidia hits $4 trillion market cap, stock surges to all‑time high"</a>, by Henry Khederian, reports that Nvidia Corp. (NASDAQ: NVDA) reached a record market valuation above $4 trillion — becoming the first U.S. company to do so — on strong investor momentum, driven by its dominant position in AI chipmaking.



<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46356963/drone-stocks-fly-as-defense-secretary-fast-tracks-drone-production-deployment">"Drone stocks fly as Defense Secretary fast-tracks drone production, deployment"</a>, by Adam Eckert, reports that AeroVironment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>), Kratos Defense &amp; Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), Red Cat Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>), Unusual Machines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UMAC#NASDAQ">UMAC</a>), AgEagle Aerial Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NASDAQ">UAVS</a>), and Ondas Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONDS#NASDAQ">ONDS</a>) all rallied after Defense Secretary Pete Hegseth revoked procurement restrictions and empowered frontline units to fast‑track U.S.-made drone production and deployment.



<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46324594/used%E2%80%91car-boom-prices-supercharging-carvana-autonation-stocks">"Used‑car boom prices supercharging Carvana, AutoNation stocks"</a>, by Adam Eckert, reports that soaring used‑car prices are lifting Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) and AutoNation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), as both retailers benefit from record-high margins and strong consumer demand in the resale vehicle market.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46328802/dell-hpe-named-top-ai-server-plays-as-analyst-cites-14b-backlog">Dell, HPE Named Top AI Server Plays As Analyst Cites $14 Billion Backlog</a>



<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46299701/ge-aerospace-climbs-46-in-2025-as-investors-eye-tariff-strategy-earnings">GE Aerospace Climbs 46% In 2025 As Investors Eye Tariff Strategy, Earnings</a>



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46353542/palantir-next-oracle-trump-backed-ai-surge">Palantir Is The ‘Next Oracle' On Trump-Backed AI Surge: Analyst</a>







The Bears



<a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/07/46308347/trumps-big-beautiful-bill-too-much-for-tesla-stock-direct-hit-to-profitability">"Trump's ‘Big Beautiful Bill' too much for Tesla stock? Direct hit to profitability"</a>, by Shanthi Rexaline, reports that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was downgraded by William Blair analyst Jed Dorsheimer, who warned Trump's new bill eliminates $7,500 EV tax credits and corporate average fuel economy fines — putting Tesla's $2.8 billion in annual regulatory credit revenue, 16% of gross profit, at risk.



<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46280387/unitedhealth-centene-hit-hard-by-guidance-shock-trumps-medicaid-push">"UnitedHealth, Centene hit hard by guidance shock, Trump's Medicaid push"</a>, by Vandana Singh, reports that UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) saw its market cap plunge nearly 41% in Q2 and Centene Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) shares crashed over 40% after Centene withdrew its 2025 guidance — moves driven by unexpectedly high medical costs and President Donald Trump's new legislation targeting Medicaid funding that threatens insurers' risk pools and reimbursement structures.



<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46348352/gorilla-technology-shares-plunge-after-nvidia-fueled-rally-reverses">"Gorilla Technology shares plunge after Nvidia‑fueled rally reverses"</a>, by Akanksha Bakshi, reports that Gorilla Technology Group Inc. (NASDAQ: GRRR) stock tumbled after a brief surge drove by its inclusion as an NVIDIA Solutions Partner on Nvidia's website—without any formal announcement—reversing the prior day's strong rally.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46352461/core-scientific-downgraded-over-concerns-on-acquisition-deal">Core Scientific Downgraded Over Concerns On Acquisition Deal</a>



<a href="https://www.benzinga.com/markets/tech/25/07/46374969/jpmorgan-just-hit-delete-on-tesla-and-rivian">JPMorgan Just Hit ‘Delete' On Tesla And Rivian</a>



<a href="https://www.benzinga.com/news/health-care/25/07/46326465/unitedhealth-slammed-with-another-lawsuit-over-119-billion-stock-plunge">UnitedHealth Slammed With Another Lawsuit Over $119 Billion Stock Plunge</a>







Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.



Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Nvidia, Tesla, Carvana — And Trump Amps Up Tariff Talk

Wall Street posted fresh all-time highs this week, fueled by a relentless rally in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which became the first company in history to surpass a $4 trillion market capitalization, igniting optimism across the<a href="https://www.benzinga.com/tech"> tech and AI sectors.</a>



The chipmaker extended its winning streak to a seventh straight week — and the 11th in the last 12 — nearly doubling its share price from early April lows in just over three months.



This surge pushed the combined market value of the so-called Magnificent Seven — Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) — to a staggering $18.3 trillion.



Chart Of The Week: Nvidia Has Now Rallied 90% Since April&#8217;s Tariff Turmoil



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="525" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/11154407/image-140-1024x525.png" alt="" class="wp-image-982442" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/11154407/image-140-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/11154407/image-140-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/11154407/image-140-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/11154407/image-140-1536x788.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/11154407/image-140-2048x1050.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



President Donald Trump reignited trade war concerns, announcing a 35% tariff on Canadian imports starting Aug. 1. He also proposed blanket tariffs of 15% to 20% on most other U.S. trading partners. Additionally, the administration unveiled 50% duties on copper and Brazilian goods, all set to kick in on the same day.



Trump also escalated his feud with the Federal Reserve. On Wednesday, he called for an aggressive three-percentage-point rate cut, arguing that each point costs the U.S. $360 billion annually in debt service.



The Fed remains cautious. Minutes from the June 17–18 FOMC meeting revealed that most officials expect to cut rates later this year. Still, Chicago Fed President Austan Goolsbee pushed back, saying debt costs shouldn&#8217;t drive monetary policy. He reiterated the central bank's dual mandate: price stability and full employment.



Airline stocks outperformed this week. Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) surged 12% on Thursday after beating earnings expectations and reaffirming its full-year profit forecast. Optimism spilled over to United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) and American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), as investors bet on a strong summer quarter for the travel sector.



Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also broke records, soaring past $118,000. The iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) — the world's largest crypto-related exchange-traded fund — posted inflows in 12 of the past 13 weeks, reflecting surging institutional interest in the top cryptocurrency.



Read now: 



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<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/07/46348036/trump-trade-regional-bank-stocks-2025">This Trump Trade Boomed After Election—Now It May Be Making A Comeback</a></li>
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Photo: Shutterstock

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Wall Street Hits Record Highs As Nvidia Tops $4 Trillion, Trump Ramps Up Trade Tensions: This Week In Markets

A federal judge has ruled against the Donald Trump administration, ordering the Department of Homeland Security (DHS) to halt immigration arrests in Southern California unless there is probable cause.



What Happened: US District Judge Maame Ewusi-Mensah Frimpong found that the DHS had been conducting arrests in Los Angeles without probable cause, as per a CNN <a href="https://edition.cnn.com/2025/07/11/politics/california-immigration-arrests-probable-cause/index.html">report</a>. The judge, an appointee of former President Joe Biden, ordered the DHS to stop detaining individuals based solely on race, spoken language, or occupation.



The ruling, which came after a case was filed by the ACLU of Southern California, is limited to the seven-county jurisdiction of the US Central District of California. The judge criticized the Trump administration for failing to provide information about the basis for the arrests.



See Also: <a href="https://benzinga.com/markets/cannabis/22/11/29756141/oklahoma-minnesota-marijuana-legalization-repercussions-after-congressional-hearing-cannabis-in-">Oklahoma &amp; Minnesota Marijuana Legalization, Repercussions After Congressional Hearing, Cannabis In Thailand &#8211; Benzinga</a>



Additionally, the DHS has been ordered to maintain and provide regular documentation of arrests to plaintiffs&#8217; counsel. The ruling also applies to the FBI and the Justice Department, both of which were listed as defendants in the lawsuit.



Why It Matters: The ruling comes amid a series of immigration-related events. In June, former President Barack Obama called for dignity in <a href="https://www.benzinga.com/news/politics/25/06/45943372/obama-calls-for-dignity-in-immigration-enforcement-as-ice-crackdown-escalates">immigration enforcement</a> as protests against President Donald Trump&#8217;s immigration crackdown escalated. Trump, on the other hand, had <a href="https://www.benzinga.com/news/legal/25/06/45786428/trump-shuts-the-door-on-permanent-immigration-and-most-visas-from-these-12-nations">barred nearly all immigration and travel</a> from 12 nations, citing poor vetting and terrorism threats.



Meanwhile, in California, Governor Gavin Newsom proposed <a href="https://www.benzinga.com/25/05/45436970/amid-12-billion-deficit-california-governor-newsom-proposes-freezing-healthcare-access-for-undocumented-immigrants-sparks-bipartisan-backlash">freezing healthcare access for undocumented immigrants</a> as a strategy to address a $12 billion deficit. The proposed freeze would prevent low-income adults without legal status from applying for Medi-Cal, California&#8217;s Medicaid program, beginning in 2026.



Read Next:



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</ul>



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock

Trump Administration Ordered By Judge To Stop Immigration Arrests Without Probable Cause In Southern California: Report

A preliminary report by the Aircraft Accident Investigation Bureau (AAIB) has identified a cut in the fuel supply to the engines as a contributing factor to the<a href="https://www.benzinga.com/markets/equities/25/06/45899174/boeing-dreamliner-carrying-over-200-passengers-crashes-shortly-after-takeoff-near-indias-ahmedabad-ba-stock-falls-over-5-in-thursday-pre-market"> Air India crash</a> involving the Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) 787 Dreamliner that resulted in the loss of 260 lives.



What Happened: The tragic incident occurred when the engine fuel cutoff switches flipped, leading to a loss of engine power, according to a Reuters report on Friday.



&nbsp;The fuel cutoff switches "transitioned from RUN to CUTOFF position one after another with a time gap of 01 sec," according to the preliminary report.



"In the cockpit voice recording, one of the pilots is heard asking the other why did he cutoff. The other pilot responded that he did not do so," the report adds.



The Boeing 787 Dreamliner was on a flight from Ahmedabad to London when it lost thrust shortly after takeoff. India&#8217;s Aircraft Accident Investigation Bureau (AAIB) reported no apparent fault by Boeing or engine manufacturer GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>).



In 2018, the Federal Aviation Administration (FAA) issued a Special Airworthiness Information Bulletin (SAIB) regarding the potential disengagement of the fuel control switch locking feature based on reports from operators of Model 737 airplanes that the fuel control switches were installed with the locking feature disengaged.



The AAIB report adds that the airworthiness concern was not considered an unsafe condition that would warrant an airworthiness directive (AD) by the FAA. Air India did not conduct the suggested inspections as the SAIB was advisory and not mandatory



See Also: <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">Chuck Schumer Slams Trump&#8217;s FAA Chief Pick Bryan Bedford Over 1,500-Hour Rule: &#8216;He Will Weaken Safety Standards&#8217;</a>



The crash presents a significant challenge to the Tata Group as it strives to enhance Air India&#8217;s reputation. The report highlighted the activation of a backup energy source, indicating engine power loss.



Cockpit voice recordings revealed a pilot questioning the fuel cutoff, with the other denying any action.



Commanding pilot Sumeet Sabharwal and co-pilot Clive Kunder were experienced, with 15,638 and 3,403 flying hours, respectively. The report did not clarify how the switches flipped. U.S. aviation experts noted the improbability of accidental switch movement.



The AAIB leads the investigation, with the U.S. National Transportation Safety Board and Federal Aviation Administration involved.



Why It Matters: The crash has put a spotlight on <a href="https://www.benzinga.com/markets/equities/25/06/45940768/boeings-troubled-2000s-from-a-sweetheart-1-1b-deal-before-deadly-air-india-crash-to-stranding-astronauts-at-iss-and-airline-crashes">Boeing&#8217;s ongoing challenges</a>, as India&#8217;s aviation ministry<a href="https://www.benzinga.com/markets/equities/25/06/45919464/boeing-faces-fresh-turmoil-as-india-mulls-787-8-grounding-after-fatal-crash-ceo-kelly-cancels-paris-trip-report"> considered grounding the Boeing 787 8 fleet</a>.



The incident had also reignited discussions about Boeing&#8217;s troubled history, including past safety concerns and legal issues.



The investigation faced controversy when <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">India denied a UN Aviation investigator</a> the opportunity to join the probe.



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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo Courtesy: Renatas Repcinskas on Shutterstock.com

News

Air India's Boeing 787 Crashed Because Of This Known Issue That FAA Flagged Years Ago: '...Fuel Supply To The Engines Was Cut Off'

With Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) trading in price discovery and institutional capital pouring into crypto markets, the long-anticipated "<a href="https://www.benzinga.com/crypto/25/07/46267392/bitcoin-ethereum-dogecoin-gain-as-trump-tariffs-deadline-delayed-massive-altcoin-season-in-the-works-says-this-analyst">altseason</a>" may finally be underway.



But industry insiders say the biggest gains may not come from Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) or XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>): instead, it's lesser-known tokens like Alpaca Network's PACA or Telegram-linked (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>) that could emerge as breakout performers.



"We&#8217;re in the early stages of what will likely be one of the most historic altseasons we've ever seen," said Michael Gord, CEO of GDA Capital. "Liquidity is re-entering the system… capital is already rotating into ETH and high-beta Layer 1s."



Among those Layer 1s, Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) is gaining momentum as both experts highlighted it as the fastest horse for the next six months. 



"Solana is moving with the agility of a Web2 product and the scalability of a next-gen chain," Gord noted, citing its rapid ecosystem growth across NFTs, DeFi, and gaming.



Thomas Kralow, chairman of Evedex, echoed that view, adding, "If meme coins and NFT volume resurge, SOL could outpace ETH short-term… its ecosystem's retail-driven momentum often outperforms in altseasons."



Still, the real opportunities may lie in less obvious names.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46368946/bitcoin-hits-dollar-all-time-high-but-trails-in-euro-swiss-franc-dollar-whats-driving-the-divergence">Bitcoin Hits Dollar All-Time High, But Trails In Euro, Swiss Franc: Dollar What&#8217;s Driving The Divergence?</a>



Gord named Alpaca Network's PACA as one of the most promising plays in the decentralized AI infrastructure space.



"Through the launch of Modelz.ai, they're tokenizing AI models themselves… transforming AI into a liquid, composable asset class," he said.



He also pointed to Flashy Finance, which combines gaming, social, and DeFi functions, a new category he calls CultureFi. 



"The next wave is about culture as capital," Gord emphasized.



Meanwhile, Kralow suggested The Open Network, backed by Telegram's massive user base, could quietly climb the ranks. 



"It's gaining traction in payments and bots… developer activity is rising," he said. He also mentioned high-performance chains like SEI (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SEI</a>) and SUI (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SUI</a>), which are building strong DeFi and NFT foundations.



Not everyone agrees on the winners, but there's more consensus on who could disappoint.



"ETH might underwhelm relative to expectations," said Gord, pointing to scalability bottlenecks and rising competition. Kralow added that XRP could struggle if legal clarity fails to translate into ecosystem growth.



As for what defines this altseason? Gord said: "This bull run and altseason is going to be the cultural onboarding of Web3 into the global financial narrative."



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Image: Shutterstock

Cryptocurrency

$ETH

$SEI

$SOL

$SUI

$TON

$XRP

Ethereum? XRP? Solana? No, You'll Find Exponential Altseason Returns In Lesser-Known Coins, Experts Say

Former Speaker of the House Nancy Pelosi recently <a href="http://Read Next: •	Top 10 Stock Traders In Congress For 2024: How Nancy Pelosi, Pete Sessions, Susan Collins, Marjorie Taylor Greene Rank">disclosed a new tech stock purchase</a> and the buy was made at a huge discount to what retail investors have been paying. Here's how.



What Happened: Similar to a <a href="https://www.benzinga.com/news/education/25/07/46356805/nancy-pelosis-nvidia-stake-heres-how-much-former-speaker-is-up-on-options-bought-in-2023">huge stake in</a> NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Nancy Pelosi and her husband Paul Pelosi now have a sizable stock stake in Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>).



Broadcom Inc. is one of the largest semiconductor companies in the world, and like Nvidia, is benefiting from the surge in demand for AI chips and networking solutions.



Pelosi's latest disclosure shows that her husband exercised 200 call options for 20,000 Broadcom shares on June 20 with a strike price of $80.



The options had an expiration date of Jun 20, 2025 and were originally purchased by the Pelosis back on June 24, 2024.



Based on a current share price of $273.15, the Pelosis just bought their Broadcom stock at a 71% discount to the market value with the $80 strike price. The Pelosis received a discount of approximately 68% on June 20 when exercising the options.



Pelosi previously disclosed buying 20 call options with an $800 strike price and June 20, 2025 expiration in June 2024. A ten-for-one stock split changed the number of options and strike price.



Along with disclosing the Broadcom trade, the Pelosis also disclosed a rare losing trade. The filing said the Pelosis sold 2,822 units of the Matthews International Fund. The comments section stated that the sale was conducted at a loss of $28,948. The sale could have been done for tax purposes to offset capital gains.



Did You Know?



<ul class="wp-block-list">
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent071125">Get Tips On What They Bought And Sold With Our Easy-to-Use Tool</a></li>
</ul>



Why It's Important: The latest Broadcom stock purchase highlights <a href="https://www.benzinga.com/general/entertainment/22/03/26065543/the-pelosi-options-trading-strategy-3-key-takeaways">a common practice </a>by Paul Pelosi. The venture capitalist likes to buy call options in large-cap technology stocks.



The options bought are typically in-the-money LEAPS, which means the strike price is below the current market price and have an expiration date of more than one year from the current date.



Past disclosures have shown that the Pelosis typically hold the call options until the expiration date when a decision is made to either sell the options or exercise the options and buy a stock stake at the strike price.



With the latest disclosure, Broadcom has now become a top holding for the Pelosis alongside Nvidia.



Nancy Pelosi says she does not share information on congressional activities with her husband. Observers remain skeptical, given the&nbsp;<a href="https://www.benzinga.com/markets/equities/24/01/36768614/tech-giants-nvidia-amd-ibm-microsoft-google-partner-with-us-government-for-ai-research-project" target="_blank" rel="noreferrer noopener">questionable timing</a>&nbsp;of her disclosed trades.



Pelosi&#8217;s annual salary falls between $174,000 and $197,000 as a senior member of Congress. When she served as Speaker of the House, her annual salary was $223,500.



An&nbsp;<a href="https://www.benzinga.com/markets/penny-stocks/23/02/30768851/want-to-copy-master-trader-nancy-pelosis-investments-theres-an-etf-for-that-here-are-the-hol" target="_blank" rel="noreferrer noopener">ETF to track</a>&nbsp;the stock trading activity of Democrats in Congress, the&nbsp;Unusual Whales Subversive Democratic Trading ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/NANC#BATS">NANC</a>),&nbsp;bears the Representative&#8217;s name in the stock ticker.



Increased calls to ban Congress members and their spouses from trading have also centered on Pelosi, a Democrat. One bill even uses her name as an acronym:<a href="https://www.benzinga.com/politics/25/04/45077654/bill-named-after-nancy-pelosi-could-ban-congress-members-from-trading-stocks-what-you-need-to-know-about-the-pelosi-act" target="_blank" rel="noreferrer noopener">&nbsp;the PELOSI Act.</a>



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Photo: Asatur Yesayants/Shutterstock

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NANC

Nancy Pelosi Just Bought Tech Stock At 71% Discount To Current Price—Here's How

XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) has rallied 12% on Friday and 25% on the week as traders see a major breakout beyond all-time highs in the making.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td><td>Market Cap</td><td>7-Day Trend</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.77</td><td>&nbsp;$164.1 billion</td><td>+25.5%&nbsp;</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$116,967.60</td><td>&nbsp;$2.32 trillion</td><td>&nbsp;+8.8%</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,966.40</td><td>&nbsp;$357.9 billion</td><td>+18.9%&nbsp;</td></tr></tbody></table></figure>



Trader Notes: Legendary futures trader Peter Brandt says XRP is currently in a short consolidation phase, marked by a "yellow box" on his chart. He expects the next decisive move to be a strong leg up, calling for a bullish continuation.



<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">Everything I&#39;ve come to know know about charts informs me that the next trend in this mystery market will be Up Up Up The market is just pausing in the yellow box <a href="https://t.co/SA0Cs8JKra">pic.twitter.com/SA0Cs8JKra</a>&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1943618645109641495?ref_src=twsrc%5Etfw">July 11, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



DonAlt <a href="https://x.com/CryptoDonAlt/status/1943661799775068262">echoed</a> this view, stating that XRP is pausing at range highs but is coiled for what he describes as a &#8220;giga go&#8221; move. Given how long XRP has ranged, a strong upside breakout is now more likely if momentum sustains.



Statistics: Coinglass data reveals XRP's open interest jumped 20.2%, while derivatives trading volume soared 108.4% in 24 hours. The rally triggered $33.8 million in liquidations, with $28.9 million from shorts — underscoring the intensity of the upside move. 



Community News: Bitwise CIO Matt Hougan <a href="https://x.com/thecryptobasic/status/1942955041297469697">recommended </a>XRP as one of the best tokens for exposure to the tokenization narrative. He advocates investing in a basket of L1s and infrastructure plays including Ethereum, XRP, Solana, and Chainlink.



Hougan notes that the XRP Ledger (XRPL) is fast emerging as a serious player in the real-world asset (RWA) tokenization space, with increasing institutional involvement. Holding XRP, he argues, may offer access to long-term gains from this expanding market.



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46327959/xrp-spikes-3-is-a-breakout-imminent">XRP Spikes 3%: Is A Breakout Imminent?</a></li>
</ul>

XRP Explodes For 25% Weekly Gain: Is A 'Giga Rally' Imminent?

Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google division will heavily discount cloud computing services for the U.S. government as the Trump administration pressures technology giants to slash prices on lucrative federal contracts worth more than $20 billion annually.



What Happened: The agreement follows Oracle Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) precedent-setting deal that included 75% discounts on some software contracts and substantial reductions on cloud computing services. A senior General Services Administration official <a href="https://www.ft.com/content/f4b6e155-8f2e-4486-8811-aaaa6158228a">told</a> the Financial Times that Google&#8217;s cloud contract is likely &#8220;to land in a similar spot,&#8221; with finalization expected within weeks.



Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure and Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services are expected to follow with equivalent discounts, though negotiations remain less advanced than with Google, according to the GSA official. &#8220;Every single of those companies is totally bought in, they understand the mission,&#8221; the official said. &#8220;We will get there with all four players.&#8221;



The four cloud providers account for the bulk of the government&#8217;s annual $20 billion cloud services spending. President Donald Trump&#8216;s administration is attempting to slash IT procurement costs as part of the Department of Government Efficiency initiative, previously led by Elon Musk.



See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46359669/teslas-annual-shareholder-meeting-set-for-november-6th-dan-ives-says-elon-musks-pay-package-in-the-spotlight">Tesla&#8217;s Annual Shareholder Meeting Set For November 6th, Dan Ives Says Elon Musk&#8217;s $56 Billion Pay Package &#8216;Will Be The Focus&#8217;</a>



Why It Matters: Oracle&#8217;s recent agreements could <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">generate over $30 billion in yearly revenue by fiscal 2028</a>, according to regulatory filings. Jefferies analysts called the deals a &#8220;pivotal moment&#8221; in Oracle&#8217;s transition to hyperscale cloud status, positioning the company to double its remaining performance obligations while accelerating revenue growth.



Tech leaders, including Meta Platforms Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Mark Zuckerberg and Google&#8217;s Sundar Pichai have courted Trump, <a href="https://www.benzinga.com/government/regulations/25/01/43085323/trump-sworn-in-as-47th-president-declares-golden-age-of-america-begins-right-now">appearing at his inauguration</a> and ending diversity programs. Amazon&#8217;s Jeff Bezos has <a href="https://www.benzinga.com/markets/tech/25/06/46107959/jeff-bezos-and-blue-origin-engaged-with-trump-administration-for-government-contracts-amid-elon-musks-rift-with-the-president-report">worked to rebuild relationships</a> after Trump&#8217;s first term saw AWS lose the $10 billion Joint Enterprise Defense Infrastructure contract to Microsoft in 2019.



Oracle founder Larry Ellison has formed close ties with Trump, participating in TikTok <a href="https://www.benzinga.com/tech/25/01/43118289/trump-open-to-elon-musk-or-larry-ellison-buying-tiktok-calls-us-permit-key-to-1-trillion-valuation">acquisition talks and the $100 billion</a> Stargate AI data center project alongside OpenAI.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46359878/cathie-wood-continues-to-back-tesla-as-investors-panic-amid-elon-musks-return-to-politics-calls-robotaxi-bet-a-trillion-dollar-opportunity">Cathie Wood Continues To Back Tesla As Investors Panic Amid Elon Musk&#8217;s Return To Politics: Calls Robotaxi Bet A Trillion-Dollar Opportunity</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: JHVEPhoto / Shutterstock.com

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Trump Pushes Google, Amazon, Microsoft To Cut Cloud Prices: $20 Billion IT Budget On Chopping Block As Oracle Sets Precedent: Report

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