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Shenandoah Telecommunications Expands Glo Fiber FTTH To 2,600 More Homes In Frederick County, MD, Bringing 5 Gbps Service To Walkersville And New Market By 2026 At Straightforward Pricing

Aurora Mobile Expands Stablecoin Use Cases In SaaS, Content, And Advertising With HashNut-Powered Web3 Payments

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) strengthened its partnership with OpenAI after the ChatGPT maker confirmed it has no plans to deploy 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>) in-house artificial intelligence chips at scale, despite recent cloud collaboration between the rivals.
What Happened: &#8220;We&#8217;re proud to partner with OpenAI and continue powering the foundation of their work,&#8221; Nvidia wrote on X Monday, citing a Reuters report that OpenAI rejected Google&#8217;s tensor processing units (TPUs) for large-scale deployment.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We're proud to partner with <a href="https://twitter.com/OpenAI?ref_src=twsrc%5Etfw">@OpenAI</a> and continue powering the foundation of their work. <a href="https://t.co/CWgsn1uAIk">pic.twitter.com/CWgsn1uAIk</a>
&mdash; NVIDIA (@nvidia) <a href="https://twitter.com/nvidia/status/1942270425607569562?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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OpenAI spokesperson confirmed to Reuters on Sunday that the AI lab is conducting early testing with some Google TPUs but has no active plans to use them at scale. The company continues relying on Nvidia&#8217;s graphics processing units (GPUs) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) AI chips to meet growing computational demands.
The statement comes two days after Reuters reported OpenAI signed a cloud services deal with Google Cloud in May, marking a rare partnership between direct AI competitors. 
See Also: <a href="https://www.benzinga.com/markets/hedge-funds/25/07/46290114/bill-ackman-bets-over-60-of-pershing-squares-portfolio-in-these-4-stocks-uber-hhh-and-more">Bill Ackman Bets Over 60% Of Pershing Square&#8217;s Portfolio In These 4 Stocks: UBER, HHH And More</a>
Why It Matters: The agreement provides OpenAI access to Google&#8217;s <a href="https://www.benzinga.com/news/23/05/32645037/nvidia-vulnerable-to-in-house-ai-chip-production-by-google-meta-microsoft-amazon">infrastructure to support training and deployment</a> of models like ChatGPT, reducing reliance on Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure.
Google has expanded external availability of its TPUs, historically reserved for internal use, winning customers including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and AI startups Anthropic and Safe Superintelligence. The <a href="https://www.benzinga.com/markets/equities/24/10/41615800/googles-cost-advantage-with-custom-chips-only-nvidia-tops-it-says-analyst">custom chips offer Google a cost advantage</a> second only to Nvidia in performance, according to D.A. Davidson analyst Gil Luria.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/biotech/25/07/46289610/palantir-co-founder-joe-lonsdale-wants-a-fda-overhaul-with-special-forces-style-ai-team-because-china-is-racing-to-outpace-us-in-biotech">Palantir Co-Founder Joe Lonsdale Wants A FDA Overhaul With Special Forces-Style AI Team Because China Is Racing To Outpace US In Biotech</a></li>
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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: Jack Hong / Shutterstock.com

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OpenAI Sticks With Nvidia: ChatGPT Maker Says No Plans To Use Google's AI Chips At Scale

In the wake of&nbsp;Elon Musk&#8216;s political aspirations, traders who bet against&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) are projected to earn approximately $1.4 billion due to a resultant drop in the company&#8217;s stock.
What Happened: Elon Musk's plan to launch a new U.S. political party has sparked doubts about his focus on Tesla's future. Coupled with his ongoing public clash with President Donald Trump over the tax-cut and spending bill, this led to nearly a 7% drop in Tesla's shares during early trading on Monday, according to a Reuters. 
With the shares valued at $296, those who bet against the electric vehicle maker are poised to make around $1.4 billion, according to data from analytics firm Ortex. This follows a $4 billion profit made by short sellers on June 5, after Tesla&#8217;s largest single-day market value drop, also due to the Musk-Trump social media spat.
By the close of trading, Tesla&#8217;s shares had dropped 6.8% to $293.94, marking a total loss of 22.5% year-to-date.
SEE ALSO: <a href="https://benzinga.com/markets/tech/25/07/46288500/elon-musk-may-be-callous-insensitive-and-extremely-cruel-but-black-swan-author-nassim-taleb-is-prayi" target="_blank" rel="noreferrer noopener">Elon Musk May Be Callous, Insensitive And &#8216;Extremely Cruel&#8217; But &#8216;Black Swan&#8217; Author Nassim Taleb Is Praying For His Safety Amid Rift With Trump</a>
Why It Matters: Musk&#8217;s political ambitions have been a point of concern for investors, with some suggesting that the lack of an<a href="https://www.benzinga.com/markets/tech/25/07/46273662/no-plan-b-teslas-musk-premium-is-on-thin-ice"> alternative CEO </a>could be detrimental to Tesla&#8217;s future. The company&#8217;s shares have been on a downward trajectory, with profits and deliveries hitting multi-quarter lows, leading to investor unease.
Notably, veteran investors and analysts, including Ross Gerber and Dan Ives, have criticized Musk&#8217;s return to politics and questioned the Tesla Board of Directors as the company&#8217;s stock was <a href="https://www.benzinga.com/markets/tech/25/07/46288776/ross-gerber-slams-joke-tesla-board-as-elon-musk-returns-to-politics-dan-ives-says-musk-cannot-start-own-political-party-and-remain-ceo">on a declining</a> spree on Monday.
President Donald Trump has also expressed<a href="https://www.benzinga.com/news/politics/25/07/46266957/trump-calls-america-party-a-train-wreck-blasts-elon-musk-for-going-completely-off-the-rails-president-says-system-not-designed-for-a-third-player"> his discontent </a>with Musk&#8217;s political plans, describing them as a &#8220;train wreck&#8221; and suggesting that the U.S. system is not designed for third-party disruption.
<ul class="wp-block-list">
<li>READ MORE: <a href="https://www.benzinga.com/news/politics/25/07/46290046/beijing-rejects-elon-musk-as-a-geopolitical-asset-lukewarm-response-to-chinese-diplomatic-overreach-trump-feud-reportedly-diminishes-musks-value">Beijing Rejects Elon Musk As A &#8216;Geopolitical Asset&#8217;: Lukewarm Response To Chinese Diplomatic Overreach, Trump Feud Reportedly Diminishes Musk&#8217;s Value</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.

TSLA

Tesla Short Sellers To Earn Nearly $1.4 Billion In Profits Amid Elon Musk's Political Ambitions: Report

Memecoins themed around Elon Musk's ‘America Party' are making a splash on price charts, netting quick gains for volatility-loving degens.
What happened: Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based America Party (AMERICA) exploded 129% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/americaparty/">according </a>to CoinMarketCap.
The coin's self-reported market capitalization hit nearly $180 million, although CoinMarketCap said that it had not verified the figures.
Similarly, the America Party (AP) <a href="https://coinmarketcap.com/currencies/america-party/">rose</a> 6.71% in the last 24 hours and a whopping  483% since the party's launch.
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<td>Cryptocurrency</td>
<td>24-hour Gains +/-</td>
<td>Price (Recorded at 4:30 a.m. ET)</td>
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<td>America Party (AMERICA)</td>
<td>+129%</td>
<td>$0.0000004123</td>
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<td>America Party (AP)</td>
<td>+5.79%</td>
<td>$0.03137</td>
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Note that these memecoins have no connection to Musk or the party and are merely seeking to profit from the buzz.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/news/politics/25/07/46289626/ron-desantis-warns-elon-musk-the-america-party-could-hand-congress-to-democrats-dont-want-to-see-that-happen">Ron DeSantis Warns Elon Musk The &#8216;America Party&#8217; Could Hand Congress To Democrats: &#8216;Don&#8217;t Want To See That Happen&#8217;</a>
Why It Matters: Musk, the world&#8217;s richest individual, and founder of tech giants such as Tesla and SpaceX, <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill" target="_blank" rel="noreferrer noopener">announced the formation</a>&nbsp;of a new political party, the America Party, as a countermeasure to what he views as a flawed two-party system.
Musk conducted a poll on X, asking voters about their desire for independence from the existing political framework. The poll garnered over 1.2 million votes, with a majority of 65.4% favoring a new political party.
Interestingly, he confirmed that the party will &#8220;embrace&#8221; Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) because fiat currencies have become &#8220;hopeless.&#8221;
Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/politics/25/07/46267326/elon-musks-america-party-is-a-move-in-the-opposite-direction-says-dan-ives-analyst-gary-black-says-difficult-to-predict-impact-on-tesla-brand-short-term">Elon Musk&#8217;s America Party Is A Move In The &#8216;Opposite Direction,&#8217; Says Dan Ives, Analyst Gary Black Says Difficult To Predict Impact On Tesla Brand Short Term</a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46148904/donald-trump-says-bitcoin-takes-a-lot-of-pressure-off-the-dollar"> </a></li>
</ul>
Image Credit: Jasen Vinlove/Imagn Images

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Elon Musk's 'America Party' Inspires Wild Memecoin Surge — One Token Jumps 129% In 24 Hours

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) was forced to reimburse the $10,000 fee charged for its Full Self-Driving or FSD package to a Model Y owner, as well as an additional $7,975 for the arbitration process.
What Happened: Marc Dobin, a lawyer based in Kirkland, Washington, said that Tesla breached the contract under which Dobin purchased the Model Y by not providing him the FSD service even after paying $10,000 extra, the lawyer wrote in a blog post <a href="https://dobinlaw.com/dobin-tesla-arbitration-fsd-refund/">on</a> Monday.
Dobin purchased a 2021 Model Y due to his wife's increasing mobility issues. He purchased the Model Y with the FSD package, which wasn't active at the time. "The promise of a car that could drive my wife around gave us hope that she'd maintain independence as her motor skills declined," he said about the FSD tech.
However, Tesla introduced a "safety score" rating system that rated drivers based on undisclosed parameters before unlocking FSD beta. "This requirement was nowhere in any paperwork related to the purchase," he said in the post before adding that the service remained locked &#8220;despite safe driving."
Dobin also said that FSD required driver intervention even when unlocked. "It was clear Tesla's &#8216;Full Self-Driving&#8217; was nowhere near autonomous," Dobin wrote in the post.
He filed an arbitration after waiting 60 days, as stipulated in the contract. Dobin waited for almost a year before the evidentiary hearing was held via Zoom. Tesla had two lawyers and a sales technician present to defend the $10,000 case.
On June 30, it was ruled that Tesla breached the agreement by "failing to disclose the Safety Score prerequisite" and was ordered to pay $10,600 (FSD + tax) to Dobin.
"The company probably spent far more than our refund defending a clearly indefensible practice," Dobin said.
Why It Matters: The news comes as Tesla's FSD system has been under scrutiny by the authorities for <a href="https://www.benzinga.com/markets/tech/25/06/46067027/tesla-robotaxi-faces-nhtsa-scrutiny-over-traffic-violations-during-austin-launch">possible traffic violations</a> during last month's Robotaxi launch in Austin.
The company is also facing a <a href="https://www.benzinga.com/markets/tech/25/06/46068107/elon-musks-tesla-faces-wrongful-death-lawsuit-over-model-s-crash-which-claimed-3-lives-plaintiffs-call-cars-design-defective-and-unreasonably-dangerous">wrongful death lawsuit</a>, filed by the estate of the victims, following a 2024 crash in New Jersey involving a Tesla Model S. The plaintiffs claim the crash happened due to the Model S's "defective and unreasonably dangerous design."
In two separate incidents, a Tesla Model 3 was <a href="https://www.benzinga.com/markets/tech/25/06/45945298/tesla-model-3-on-fsd-mode-struck-by-train-after-getting-trapped-on-railroad-tracks-report">struck by a train</a> as it got stuck on a railroad track and a Tesla Cybertruck was <a href="https://www.benzinga.com/markets/tech/25/06/45991698/tesla-cybertruck-caught-driving-in-wrong-lane-on-fsd-just-days-before-robotaxi-launch">driving in the wrong lane</a> for an extended period. Both incidents posed a danger to the occupants' safety and happened as the vehicles were in "self-driving mode."
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="199" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08043900/TSLA-JUL-8-2025-2-1024x199.jpg" alt="" class="wp-image-976039" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08043900/TSLA-JUL-8-2025-2-1024x199.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08043900/TSLA-JUL-8-2025-2-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08043900/TSLA-JUL-8-2025-2-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08043900/TSLA-JUL-8-2025-2-1536x298.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08043900/TSLA-JUL-8-2025-2.jpg 1552w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla offers satisfactory Momentum and Quality while scoring well on the Growth metric. However, the stock offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46289556/trumps-tax-bill-axes-the-7500-ev-credit-heres-how-you-can-still-claim-it">Trump&#8217;s Tax Bill Axes The $7,500 EV Credit: Here&#8217;s How You Can Still Claim It</a></li>
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Photo courtesy: VTT Studio / Shutterstock.com

Elon Musk's Tesla Forced To Pay Nearly $18,000 In Model Y FSD Arbitration: 'Full Self-Driving Was Nowhere Near Autonomous'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has filed an appeal against the €500 million ($586 million) fine imposed by the European Union (EU) over alleged anti-competitive practices on its App Store.
What Happened: The EU&#8217;s executive arm, the European Commission, previously charged Apple of violating its laws by restricting app developers from informing customers about alternative offers or marketplaces outside the App Store. The commission also alleged that Apple was steering customers towards in-app purchases, <a href="https://www.bbc.com/news/articles/cpvjdm4mp92o">reported</a> BBC.
Apple has contested the fine, calling it &#8220;unprecedented&#8221; and stated that the decision and its penalty &#8220;go far beyond what the law requires&#8221;. The company is also objecting to the additional concessions the Commission is demanding, which it claims will add complexity to its services and negatively impact users and businesses.
The fine imposed on Apple in April was the first under the EU&#8217;s Digital Markets Act (DMA), a significant legislation aimed at promoting fair business practices in online markets. The DMA also imposes stricter obligations on companies designated as dominant &#8220;gatekeepers&#8221; in certain sectors and threatens hefty fines for rule breaches.
Paolo Pescatore, a technology analyst at PP Foresight, described Apple&#8217;s appeal as a &#8220;widely expected move&#8221; that could set a precedent for others. He also noted that the process of enforcing the required changes could be lengthy and complex.
SEE ALSO: <a href="https://benzinga.com/markets/tech/25/07/46268414/as-elon-musks-rift-with-donald-trump-deepens-former-google-executive-says-maga-and-tech-world-cant-t" target="_blank" rel="noreferrer noopener">As Elon Musk&#8217;s Rift With Donald Trump Deepens, Former Google Executive Says MAGA And Tech World Can&#8217;t Thrive Without Each Other</a>
Why It Matters: This appeal follows a series of events that began with the European Union imposing a total of $800 million in fines on Apple and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) in April 2025 for violating the bloc&#8217;s Digital Markets Act. Apple was fined approximately $570 million for <a href="https://www.benzinga.com/news/global/25/04/44952117/apple-and-meta-fined-nearly-800-million-for-violating-european-unions-digital-markets-act">restricting app </a>developers from informing users about alternative sales or promotions outside the App Store and for limiting access to competing app stores on Apple devices.
In response, Apple announced new terms in June 2025, allowing developers in the European Union to communicate and promote external purchase offers, marking a significant <a href="https://www.benzinga.com/markets/tech/25/06/46133145/apple-opens-eu-app-store-to-external-payments-to-avoid-fines-under-digital-markets-act-but-adds-new-fees">compliance step</a> under the Digital Markets Act. The updated terms enable developers to direct users to alternative payment channels, including websites, alternative app marketplaces, or other apps.
On a year-to-date basis, Apple stock slumped 13.9%, as per Benzinga Pro.
<ul class="wp-block-list">
<li>READ MORE:<a href="https://www.benzinga.com/markets/tech/25/07/46246152/iphone-sales-bounce-back-in-china-but-huawei-and-xiaomi-intensify-pressure"> iPhone Sales Bounce Back In China, But Huawei And Xiaomi Intensify Pressure </a></li>
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Apple Fights Back Against EU's $586 Million Fine, Says Penalty 'Far Beyond What The Law Requires'

Atul Khekade, co-founder of XDC Network, on Tuesday predicted that tokenization will surpass Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) transformative power, outlining how tokenization—digitizing and fractionalizing assets like real estate, bonds, and commodities—will reshape the global economy.
Reflecting on his early years in Silicon Valley, Khekade recalled his first experience with Bitcoin. 
"For the first time, value didn't just travel. It disappeared from one phone and appeared on another," he said. "That was the moment I realized this was bigger than just payments. It was the beginning of tokenization."
In his view, the evolution from Bitcoin to tokenization marks a broader transformation in how digital systems handle value. 
"Where Web2 gave us access to information," he said, "Web3 will give us access to assets, not through paperwork or intermediaries, but directly from machine to machine, peer to peer."
Khekade contrasted this emerging model with the limitations of traditional financial systems. "Banks may show you that a transaction is done," he said, "but the actual movement of value happens hours or days later."
He explained that the focus is no longer just about creating standalone solutions but providing the foundational infrastructure that others can build on. 
"We don't build solutions for every sector ourselves," he said. "We build the layer others can use to tokenize what matters to them."
Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46260599/ripples-national-bank-ambition-how-could-it-disrupt-stablecoins-and-traditional-banking">Ripple&#8217;s National Bank Ambition: How Could It Disrupt Stablecoins And Traditional Banking?</a>
According to Khekade, regulatory acceptance is already underway in several parts of the world. 
"We're already working with regulators in Indonesia and the Philippines where XDC is approved for payments," he said. "Several African nations are piloting asset tokenization using XDC."
He emphasized that this shift from speculative assets to tokenized real-world value is already underway and grounded in real deployment. 
"Bitcoin solved trustless money," he said. "Tokenization solves global ownership."
Even as the technology gains traction, Khekade acknowledged that the broader tokenization economy is still early in its lifecycle. "It's like the early days of Amazon. You knew something big was being built, but it wasn't in every home yet. That's where we are with RWA tokenization today."
Read Next:
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46260124/social-media-without-middlemen-wallstreetbets-founder-backs-creator-controlled-platform">Social Media Without Middlemen? WallStreetBets Founder Backs Creator-Controlled Platform</a></li>
</ul>
Photo courtesy: XDC Network

Why Tokenization Could Outgrow Bitcoin: Crypto's Biggest Success Story

Amid mounting fears of foreign espionage and <a href="https://www.benzinga.com/25/02/43426111/openai-rethinks-open-source-as-deepseek-gains-ground-sam-altman-hints-at-major-changes-in-ai-model-development">alleged model theft</a> by Chinese rival DeepSeek, ChatGPT-parent OpenAI has reportedly ramped up its internal security protocols.
What Happened: OpenAI has tightened security to prevent corporate espionage and leaks of its foundational model technologies, reported <a href="https://www.ft.com/content/f896c4d9-bab7-40a2-9e67-4058093ce250">the</a> Financial Times, citing several people close to the company.
This follows allegations that Chinese AI startup DeepSeek used a technique <a href="https://www.benzinga.com/news/25/01/43354099/openai-alleges-deepseek-used-proprietary-models-without-permission-as-microsoft-investigates-ai-secu">known as &#8220;distillation&#8221; to copy</a> OpenAI's models and build a rival system.
The company has adopted an internal "deny-by-default" egress policy, cutting off internet access to internal systems unless explicitly permitted, the report said.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/fda/25/06/45945282/sarepta-therapeutics-stock-plummets-over-40-on-second-fatal-case-linked-to-its-gene-therapy" target="_blank" rel="noreferrer noopener">Sarepta Therapeutics Stock Plummets Over 40% On Second Fatal Case Linked To Its Gene Therapy</a>
It has also installed biometric fingerprint scans at secure facilities and restricted employee access under a system known as information "tenting."
For instance, staff working on the internally code-named "Strawberry" model were warned not to discuss the project outside the designated "tent," ensuring only authorized personnel had access to critical conversations and code, the report noted.
"It got very tight — you either had everything or nothing," a source told the publication, describing the new protocols. Over time, more staff are being granted limited access to specific components without visibility into broader projects.
To lead this transformation, OpenAI hired Dane Stuckey, former chief information security officer at Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), last October. He now oversees cyber and data defense alongside Matt Knight, OpenAI's VP of security products.
The company has also brought on retired U.S. Army General Paul Nakasone to its board, bolstering its defense posture.
Why It's Important: As tensions escalate between the <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. and China over AI</a> leadership, OpenAI's moves reflect a broader concern that foundational model data could be weaponized by geopolitical adversaries.
U.S. authorities have warned that China is aggressively <a href="https://www.benzinga.com/news/global/25/02/43600852/china-sets-sights-on-us-tech-companies-as-trade-tensions-rise">targeting American tech firms</a> to gain access to advanced models and IP.
OpenAI insists these measures are part of its commitment to security and not a response to a specific breach.
Last month, OpenAI also landed a $200 million <a href="https://www.benzinga.com/markets/tech/25/06/45965573/openai-wins-200-million-us-defense-contract-for-ai-warfare-capabilities-as-the-company-looks-to-raise-40-billion">defense contract to build</a> artificial intelligence tools for national security purposes.
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46258669/tesla-made-2-76-billion-from-zev-credits-in-2024-in-us-but-trumps-tax-bill-just-killed-this-revenue-stream" target="_blank" rel="noreferrer noopener">Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump's Tax Bill Just Killed This Revenue Stream</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Svet foto / Shutterstock.com

PLTR

After DeepSeek Scandal, OpenAI Locks Down Its Labs With Fingerprints, Firewalls, Ex-Palantir Security Chief: Report

The Donald Trump administration is moving to significantly reshape the Public Service Loan Forgiveness (PSLF) program, aiming to restrict student loan cancellation for employees of organizations deemed to be engaged in &#8220;illegal activities.&#8221;
What Happened: A draft proposal from the U.S. Education Department, set to take effect in July 2026, outlines new criteria that could impact a vast array of public and non-profit employers, sparking concerns among advocates.
The core of the proposed overhaul targets organizations involved in activities such as &#8220;aiding or abetting&#8221; federal immigration law violations, supporting foreign terrorist organizations, or violating the Civil Rights Act of 1964, particularly regarding diversity, equity, and inclusion (DEI) policies.
Most controversially, the draft includes &#8220;engaging in the chemical and surgical castration or mutilation of children,&#8221; defining this to include hormone therapy or puberty blockers for individuals under 19. This directly targets entities providing gender-affirming care to transgender youths.
Regarding these significant policy changes, the U.S. Department of Education did not respond to an email seeking commentary sent by Benzinga.
Critics, however, fear the changes grant the Education Secretary subjective authority, potentially allowing entire hospital systems, state governments, or universities to be deemed ineligible for political reasons.
Betsy Mayotte, president of the Institute of Student Loan Advisors, viewed the proposal as &#8220;politically motivated and perhaps will be used as a tool for political punishment,&#8221; as <a href="https://apnews.com/article/student-loan-forgiveness-public-service-trump-145f6a07a477e5c82f4374bc89e1eea7">reported</a> by the Associated Press. 
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46269226/stocks-just-hit-rare-golden-cross-for-1st-time-since-2023-heres-what-it-means-for-investors">Stocks Just Hit Rare Golden Cross For 1st Time Since 2023 — Here&#8217;s What It Means For Investors</a>
Why It Matters: The PSLF program currently allows government employees, teachers, firefighters, and many non-profit workers to have their federal student loans canceled after 10 years of payments.
President Trump, who ordered these changes in March, stated the program had &#8220;misdirected tax dollars into activist organizations.&#8221;
Beyond the specific definitions, the proposal also requires employers to certify that they do not engage in illegal activities, raising further concerns about administrative hurdles.
This move could block large numbers of borrowers from receiving forgiveness, effectively forcing them into new jobs or facing continued debt.
The formal proposal will undergo a public comment period before finalization, with its implementation expected in July 2026.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/forex/25/07/46272823/as-us-dollar-sinks-top-economist-warns-10-slide-could-spark-new-inflation-spike">As US Dollar Sinks, Top Economist Warns 10% Slide Could Spark New Inflation Spike</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Joey Sussman / Shutterstock.com

Education

Student Loan Forgiveness Faces New Restrictions Under Trump's PSLF Overhaul: Report

China&#8217;s exports to the United States have plunged over 43% year-over-year in May, representing a $15 billion drop in trade value, yet at the same time, China&#8217;s total exports have increased 4.8%, according to official figures, despite the trade and tariff-related turbulence.
What Happened: On Monday, in a post on X, The Kobeissi Letter shared the latest trade data coming in official Chinese sources, hinting at the rerouting of goods to circumvent the current U.S. trade and tariff regime.
The post notes that exports to the Association of Southeast Asian Nations (ASEAN) rose 15% year-over-year during the month, while shipments to the European Union climbed 12%. Meanwhile, there was a 30% spike in Chinese exports routed through Vietnam, and a similar 25% increase via Indonesia. 
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46264889/india-hits-back-at-us-plans-retaliatory-tariffs-at-wto">India Hits Back At US, Plans Retaliatory Tariffs at WTO</a>
These figures have since fueled speculations that China is shifting its trade strategy, rerouting exports through regional partners to maintain global market access while reducing direct exposure to U.S. tariffs.
This comes amid growing efforts made by the U.S. Government to <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">close potential backdoors</a> for Chinese goods. The recent trade deal with Vietnam, which involved a 40% tariff on rerouted goods, is largely aimed at the same, and is thus being seen as a &#8220;proxy trade war&#8221; with China.
<figure class="wp-block-embed aligncenter 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">Is China dodging US tariffs? China&#39;s exports to the US fell -43% YoY in May, representing a $15 billion decline in trade value. However, the country's total exports jumped +4.8% during the same period, per official Chinese data. This comes as shipments to the Association of… <a href="https://t.co/qtWdnQAZNS">pic.twitter.com/qtWdnQAZNS</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1942313242455429551?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Economists believe that President Donald Trump&#8217;s 40% <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">tariff on rerouted goods</a> from Vietnam could warrant backlash from China, with economist&nbsp;Rana Sajedi saying that it might be seen as a direct challenge, leading to targeted trade measures. 
The U.S. has also been urging Vietnam to <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45949304/us-pressures-vietnam-to-cut-chinese-tech-dependency-amid-tariff-talks-report">reduce its reliance</a> on Chinese technologies that are used in the production of goods that are later exported. 
Experts have long viewed tariffs as an <a href="https://www.benzinga.com/general/travel/25/06/45869934/mpcc-co-ceo-on-container-feeder-market-trade-disruptions-and-growth-opportunities">opportunity for rerouting</a> and transshipment, rather than a threat. &#8220;During 2018-19 when similar tariffs were put into effect, cargo was rerouted through Southeast Asia, Mexico and Europe, and a similar pattern is emerging now,&#8221; says Moritz Fuhrmann, the Co-CEO of MPC Container Ships ASA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MPZZF#OTC">MPZZF</a>).
Read More: 
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<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46288472/japans-prime-minister-criticizes-trumps-tariff-decision-shigeru-ishiba-calls-move-truly-regrettable">Japan&#8217;s Prime Minister Criticizes Trump&#8217;s Tariff Decision: Shigeru Ishiba Calls Move &#8216;Truly Regrettable&#8217;</a></li>
</ul>
Photo courtesy: miss.cabul / Shutterstock.com

MPZZF

Is China Dodging US Tariffs? Direct Exports To America Plunge 43% As Vietnam And Indonesia See Big Spurts: Report

<h3>Companies Reporting Before The Bell</h3>
<h3>Companies Reporting After The Bell</h3>
• Aehr Test System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) is expected to report quarterly loss at $0.01 per share on revenue of $14.82 million. 
• Kura Sushi USA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRUS#NASDAQ">KRUS</a>) is expected to report quarterly loss at $0.01 per share on revenue of $72.04 million. 
• Saratoga Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAR#NYSE">SAR</a>) is projected to report quarterly earnings at $0.72 per share on revenue of $32.79 million. 
• Penguin Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $330.82 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

AEHR

KRUS

Penguin Solutions, Inc. - Ordinary Shares

PENG

Earnings Scheduled For July 8, 2025

<a href="https://www.ft.com/content/3750419f-5473-4c11-9fed-bb072c683d68" title="https://www.ft.com/content/3750419f-5473-4c11-9fed-bb072c683d68">https://www.ft.com/content/3750419f-5473-4c11-9fed-bb072c683d68</a>

IPOs

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Financial Times Reported Earlier. Shein Files For Hong Kong IPO To Pressure UK To Save London Listing

Financial Times Reported Earlier, Shein Files For Hong Kong IPO To Pressure UK Regulators To Save London Listing

Novartis today announced Coartem (artemether-lumefantrine) Baby has been approved by Swissmedic as the first malaria medicine for newborns and young infants. The new treatment, also known as Riamet Baby in some countries, was developed in collaboration with Medicines for Malaria Venture (MMV) to treat the potentially deadly mosquito-borne disease.

Novartis Earlier Announced It Received Approval For First Malaria Medicine For Newborn Babies And Young Infants

Pershing Square Capital Management, L.P., founded and led by the billionaire Bill Ackman, has a portfolio valued at $11.930 billion, which is concentrated in these four stocks as of the end of the first quarter of 2025.
What Happened: The hedge fund, with Ackman as its CEO, had 11 holdings as of the most recent reported quarterly period, which ended on May 15, highlighted in its 13F filing.
According to Pershing Square&#8217;s Net Asset Value (NAV) and performance report for June 2025, the fund&#8217;s portfolio had no short positions and most of its funds were invested in large-cap companies.
The portfolio was exposed to various sectors, including consumer products, consumer services, financials, leisure and hospitality, technology, and special purpose rights companies.
According to its 13F filings, the four major stock holdings in the foundation's portfolio made up at least two-thirds or 62% of the fund's holdings valued at $7.286 billion as of the first quarter of the ongoing calendar year.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Company</td>
<td>Value (as of March 31)</td>
<td>% Of Holdings (as of March 31)</td>
<td>Number Of Shares</td>
<td>Change From Dec. 31, 2024 (in %)</td>
</tr>
<tr>
<td>Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>)</td>
<td>$2.207 billion</td>
<td>19%</td>
<td>30301161</td>
<td>New</td>
</tr>
<tr>
<td>Brookfield Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BN#NYSE">BN</a>)</td>
<td>$2.149 billion</td>
<td>18%</td>
<td>41004657</td>
<td>18%</td>
</tr>
<tr>
<td>Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</td>
<td>$1.532 billion</td>
<td>13%</td>
<td>23000914</td>
<td>0%</td>
</tr>
<tr>
<td>Howard Hughes Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>)</td>
<td>$1.396 billion</td>
<td>12%</td>
<td>18852064</td>
<td>0%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">Uber Technologies</h2>
<ul class="wp-block-list">
<li>Pershing Square has freshly acquired 30.301 million shares of Uber, making it the hedge fund&#8217;s largest position at the end of the first quarter.</li>
<li>The stock has advanced 53.05% on a year-to-date basis and 10.97% in the last month.</li>
</ul>
<h2 class="wp-block-heading">Brookfield Corp.</h2>
<ul class="wp-block-list">
<li>Ackman has been acquiring the shares of the Canadian alternative investment management company, Brookfield Corp., over the last year, with an 18% or 6.111 million shares added at the end of the first quarter.</li>
<li>Its businesses are spread across several segments, including real estate, renewable power facilities, and infrastructure.</li>
<li>The stock has grown 9.37% YTD and 7.42% in the last month.</li>
</ul>
<h2 class="wp-block-heading">Restaurant Brands International Inc.</h2>
<ul class="wp-block-list">
<li>Holding 23 million shares, Ackman&#8217;s Pershing Square has held a stake in this company for over 10 years, since the fourth quarter of 2014.</li>
<li>The fund has made no change in its holding of the stock over the last three quarters. </li>
<li>Restaurant Brands&#8217; stock has advanced 3.51% YTD and declined by 2.71% in the last month.</li>
</ul>
<h2 class="wp-block-heading">Howard Hughes Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>)</h2>
<ul class="wp-block-list">
<li>Pershing Square owns 12% or 18.852 million shares of the real estate development and management company.</li>
<li>Ackman also serves as the executive chairman of the company&#8217;s board with an agenda to <a href="https://www.benzinga.com/25/05/45199902/bill-ackman-strikes-deal-to-form-mini-version-of-berkshire-hathaway-a-free-money-generating-company-he-wouldnt-bet-against">transform Howard Hughes</a> into a diversified holding company like Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>).</li>
<li>The stock has declined 9.38% YTD and 0.68% over the last month.</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/forex/25/07/46272823/as-us-dollar-sinks-top-economist-warns-10-slide-could-spark-new-inflation-spike">As US Dollar Sinks, Top Economist Warns 10% Slide Could Spark New Inflation Spike</a>
Why It Matters: Apart from holding 62% of the aforementioned companies, Pershing Square&#8217;s other investments also includes Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), Canadian Pacific Kansas City Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Hilton Hotels Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), with holdings in single digits ranging from 5.7% to 9.1%.
Along with less than 1% portfolio holdings in Seaport Entertainment Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEG#NYSE">SEG</a>) and Hertz Global Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>).
Price Action: 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, declined on Monday. The SPY was down 0.75% at $620.68, while the QQQ also declined 0.75% to $552.03, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pr</a>o data.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/07/46269226/stocks-just-hit-rare-golden-cross-for-1st-time-since-2023-heres-what-it-means-for-investors">Stocks Just Hit Rare Golden Cross For 1st Time Since 2023 — Here&#8217;s What It Means For Investors</a></li>
</ul>
Photo courtesy: T. Schneider / Shutterstock.com

Hedge Funds

UBER

Bill Ackman Bets Over 60% Of Pershing Square's Portfolio In These 4 Stocks: UBER, HHH And More

Chinese officials have reportedly cooled on&nbsp;Elon Musk, the CEO of&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), as a potential geopolitical asset due to his public fallout with President&nbsp;Donald Trump.
What Happened: In January, Chinese Vice President&nbsp;Han Zheng&nbsp;met with Musk in Washington, expressing Beijing&#8217;s hope that Musk would play a constructive role in U.S.-China relations,&nbsp;<a href="https://www.wsj.com/business/autos/tesla-china-elon-musk-0f38940e?st=3kgiF7&amp;reflink=article_copyURL_share">according</a> to The Wall Street Journal. However, Musk&#8217;s response was reportedly lukewarm and due to his now strained relationship with Trump, Beijing no longer sees Musk as a valuable &#8220;geopolitical asset&#8221; and is unlikely to publicly engage with him.
One of the sources, who consults with Chinese officials, stated, &#8220;Tesla remains important for China&#8230;but&nbsp;for authorities, helping domestic companies&nbsp;still matters more.&#8221; This is a significant setback for Musk, who has been focusing on Tesla&#8217;s operations in China, its second-largest market by revenue.
Nevertheless, China remains important for Tesla, especially as its sales in the U.S. and Europe have declined, partly due to Musk&#8217;s past ties with Trump. China also serves as a crucial testing hub for technologies such as Full Self-Driving (FSD) and autonomous taxis, which are among Musk&#8217;s top priorities.
SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/07/46282859/bitcoin-ethereum-dogecoin-dip-slightly-while-xrp-holds-firm-on-tariff-driven-monday" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Dip Slightly While XRP Holds Firm On Tariff-Driven Monday &#8211; Benzinga</a>
Why It Matters: Musk&#8217;s relationship with China is crucial for Tesla&#8217;s future. Despite the recent cooling of Musk&#8217;s geopolitical value, Tesla&#8217;s sales in China have seen a rise. In June, Tesla saw a&nbsp;3.7% year-over-year <a href="https://www.benzinga.com/markets/tech/25/07/46239731/elon-musks-tesla-sales-surge-3-7-in-china-as-other-markets-cool">increase in sales&nbsp;</a>in the Chinese domestic market, amid declining sales in other markets. 
However, Tesla continues to face stiff competition from local rivals like <a href="https://www.benzinga.com/markets/tech/25/07/46215206/tesla-rival-byd-reports-2025s-best-selling-month-in-june-amid-exports-surge">BYD</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), which reported its best sales performance of 2025 in June.
Despite this, Musk has found an unlikely source of support in Chinese netizens. Amid his feud with Trump, Chinese social media users have been&nbsp;<a href="https://www.benzinga.com/news/25/07/46252278/after-trump-warns-elon-musk-to-close-up-shop-china-rallies-behind-worlds-richest-man-theres-no-need">rallying behind Musk</a>, hailing his stance against Trump. However, the recent cooling of Musk&#8217;s geopolitical value in China could pose a significant challenge for Tesla&#8217;s future in the country.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/politics/25/07/46268640/china-expresses-concern-to-eu-over-russias-potential-defeat-in-ukraine-conflict-amid-fears-that-tru" target="_blank" rel="noreferrer noopener">China Expresses Concern To EU Over Russia&#8217;s Potential Defeat In Ukraine Conflict Amid Fears That Trump Would Do &#8216;This&#8217;: Report</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.

BYDDF

Beijing Rejects Elon Musk As A 'Geopolitical Asset': Lukewarm Response To Chinese Diplomatic Overreach, Trump Feud Reportedly Diminishes Musk's Value

Seasoned investor&nbsp;Cathie Wood&nbsp;on Monday praised an analyst from Ark Invest&#8217;s Digital Assets team for their successful take on Circle Internet Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) from a month ago.
What Happened:&nbsp;Wood took to X to welcome Raye Hadi, the new member of the cryptocurrency research team, and praised their immediate impact, notably their work on Circle, the issuer of USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin.
<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 are thrilled that you have joined the ARK team, <a href="https://twitter.com/rhadiARK?ref_src=twsrc%5Etfw">@rhadiARK</a>. You hit the ground running with <a href="https://twitter.com/search?q=%24CRCL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CRCL</a>, the first of many successes likely in the years ahead! <a href="https://t.co/D79FpqGQEA">https://t.co/D79FpqGQEA</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1942332851841614311?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Hadi, along with Lorenzo Valiente. Director of Research at Ark Invest, <a href="https://www.ark-invest.com/newsletters/issue-466">wrote</a> on Circle&#8217;s successful Wall Street launch last month, with shares <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45852973/circle-ipo-success-suggests-markets-open-to-new-listings-especially-from-crypto-businesses-says-spac-king-chamath-palihapitiya">exploding 168%</a> from the IPO price on debut.
&#8220;Circle's successful IPO could inspire more crypto-native firms to pursue public listings, further highlighting the sector's role as an innovator in the global financial infrastructure space,&#8221; the blog post read.
See Also:&nbsp;<a href="https://benzinga.com/crypto/25/07/46288196/bitcoin-ethereum-dogecoin-dip-on-macro-jitters-from-trumps-japan-south-korea-tariffs-analyst-says-btc-6-months-away-from-top-if-history-repeats" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Dip On Macro Jitters From Trump&#8217;s Japan, South Korea Tariffs: Analyst Says BTC 6 Months Away From Top If History Repeats</a>
Why It Matters: Circle began June with an<a href="https://www.benzinga.com/markets/ipos/25/06/45819104/cathie-wood-calls-circles-ipo-an-amazing-debut"> IPO priced at $31 per share</a>. The stock opened for trading on the New York Stock Exchange at $69 per share and has continued to see strong momentum.
CRCL exploded to $240 apiece by June 20, but has since retreated. Nonetheless, it has<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46281595/circle-internet-group-st[%E2%80%A6]rming-the-sp-500-over-the-past-month-whats-driving-the-rally"> rallied over 92%</a> during the past month of trading, surpassing the S&amp;P 500.
Wood deemed the IPO&nbsp;<a href="https://www.benzinga.com/markets/ipos/25/06/45819104/cathie-wood-calls-circles-ipo-an-amazing-debut" target="_blank" rel="noreferrer noopener">an "amazing debut,"</a>&nbsp;with her firm&nbsp;ARK Invest&nbsp;bagging hundreds of millions worth of the company's shares immediately. 
As of this writing, the ARK Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>), ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>) and ARK Next Generation Internet ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>) held a total of $562.7 million worth of Circle shares.
Price Action:&nbsp; Shares of Circle were down 0.70% in after-hours trading after closing 9.90% higher at $207.46&nbsp; during Monday&#8217;s regular trading session, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Are you looking for cryptocurrency-linked stocks for your portfolio? Check out&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>&nbsp;to filter out the best performers on key measures such as Momentum, Growth, and Quality.
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Circle Shares Surge 92% Since NYSE Debut — Cathie Wood Highlights Ark's Successful Take On Stablecoin Issuer's IPO

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) experienced a sharp drop in sales in the Chinese domestic car market during the week of June 30 to July 6, 2025.
Check out the current price of <a href="https://benzinga.com/quote/tsla">TSLA stock here</a>.
What Happened: The EV giant recorded 5,010 new insured registrations in China, according to data compiled by influencer Roland Pircher on social media platform X on Tuesday.
The registrations this week dropped 75.8% from the preceding week's 20.7K registrations. Tesla sales are down 22.9% from the same time last year. However, the sales are up over 38% compared to Q2 2025.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In China, 5010 Tesla insurance registrations were reported for the week of June 30 to July 6. &#x1f1e8;&#x1f1f3; The week is down 75.8% from last week and -22.9% year-over-year. The quarter is +38.8% QoQ and -22.9% YoY. YTD is at -5.3% YoY. <a href="https://t.co/DWHR5A5Mpp">pic.twitter.com/DWHR5A5Mpp</a>
&mdash; Roland Pircher (@piloly) <a href="https://twitter.com/piloly/status/1942442683613532254?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: The news comes after Tesla recorded a <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">better-than-estimated Q2</a> performance, with the EV giant delivering over 384,122 vehicles in the quarter. The deliveries were largely driven by the Tesla Model 3 and Model Y.
Tesla sales also picked up<a href="https://www.benzinga.com/markets/tech/25/07/46257617/elon-musk-led-tesla-sales-surge-12-in-the-uk-during-june-q2-deliveries-beat-analyst-estimates"> over 12% in the UK</a>, with Elon Musk's company delivering over 7,189 units during Q2 2025, according to sales data released recently.
However, Tesla has had to deal with troubles stemming from Musk's political ambitions with the "America First" party as the company stock fell over 7% in 24 hours. The move has been <a href="https://www.benzinga.com/markets/tech/25/07/46288776/ross-gerber-slams-joke-tesla-board-as-elon-musk-returns-to-politics-dan-ives-says-musk-cannot-start-own-political-party-and-remain-ceo">criticized by experts</a>.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="199" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08024338/TSLA-JUL-8-2025-1-1024x199.jpg" alt="" class="wp-image-975880" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08024338/TSLA-JUL-8-2025-1-1024x199.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08024338/TSLA-JUL-8-2025-1-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08024338/TSLA-JUL-8-2025-1-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08024338/TSLA-JUL-8-2025-1-1536x298.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/08024338/TSLA-JUL-8-2025-1.jpg 1552w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla offers satisfactory Momentum and Quality while scoring well on the Growth metric. However, the stock offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Photo courtesy: Tada Images / Shutterstock.com

Tesla China Sales Plunge Over 75% In First Week Of July Despite Strong Q2 Deliveries

Donald Trump's much-touted plan to sell $5 million "gold card" visas to the ultra-wealthy may never leave the runway, immigration lawyers and policy analysts say.
What Happened: The proposal would create a brand-new residency class for investors willing to wire in billions, but experts note a president cannot invent a visa on his own, according to a <a href="https://www.washingtonpost.com/politics/2025/07/07/trump-gold-card-visa-immigration/">report</a> by The Washington Post. Only Congress can add categories to the Immigration and Nationality Act.
Since February, Trump has waved a laminated prototype at reporters, promised an "immediate rollout," and opened a TrumpCard.gov wait list that Commerce Secretary Howard Lutnick says has attracted <a href="https://www.benzinga.com/news/events/25/06/45967070/howard-lutnick-says-nearly-70000-register-for-5-million-trump-card-visa-as-us-eyes-1-trillion-windfall-from-premium-immigration-plan">nearly 70,000 names</a>. The White House claims the <a href="https://www.benzinga.com/personal-finance/25/03/44237846/trump-proposes-special-a-gold-card-for-wealthy-immigrants-that-costs-5-million-says-selling-enough-could-wipe-out-americas-national-debt">fees could wipe out</a> the $1.3 trillion annual deficit and, eventually, the entire national debt.
But no bill has surfaced on Capitol Hill, and Republican leaders who are already skeptical of expanded immigration paths show "zero appetite" for the idea, said Alex Nowrasteh of the Cato Institute.
See also: <a href="https://www.benzinga.com/news/politics/25/07/46289626/ron-desantis-warns-elon-musk-the-america-party-could-hand-congress-to-democrats-dont-want-to-see-that-happen">Ron DeSantis Warns Elon Musk The &#8216;America Party&#8217; Could Hand Congress To Democrats: &#8216;Don&#8217;t Want To See That Happen&#8217;</a>
Why It Matters: Supreme Court precedent gives Congress "plenary power" over visas, former DHS counsel George Fishman noted. "I'm very dubious it can be done without an act of Congress."
Critics also warn of lawsuits from would-be EB-5 investors, who now wait years after putting in at least $800,000. Former USCIS adviser Doug Rand said opponents will almost certainly challenge any fast-lane plan for newcomers and almost certainly defeat it.
Billionaire Trump donor John Paulson originally proposed the concept as a debt reduction mechanism for America's $36 trillion burden. The program represents a significant shift in targeting high-net-worth individuals. Billionaire Mark Cuban previously <a href="https://www.benzinga.com/25/03/44070799/mark-cuban-supports-trumps-new-gold-card-scheme-if-sold-to-corporations-for-employee-citizenship-have-a-look-at-the-listed-companies-with-most-number-of-immigrants">supported the concept</a> provided corporations buy cards for high-earning employees, while Elon <a href="https://www.benzinga.com/news/25/03/44519944/elons-building-me-the-software-right-now-commerce-secretary-howard-lutnick-says-he-sold-1k-trump-cards-for-5m-each-in-one-day">Musk was involved</a> in developing the application software.
Photo Courtesy: Shutterstock AI
Read next: <a href="https://www.benzinga.com/crypto/25/07/46289599/trump-inaugural-donor-loses-250000-in-crypto-scam-by-steve-witkoff-impersonator-fbi-recovers-over-40000">Trump Inaugural Donor Loses $250,000 In Crypto Scam By Steve Witkoff Impersonator, FBI Recovers Over $40,000</a>

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