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VERITONE INC

Veritone

Veritone Inc is a provider of artificial intelligence (AI) computing solutions and services. It generates revenue through the delivery of its Software Products and Services which consists of revenues generated from Commercial Enterprise and Government and Regulated Industries customers using the company's aiWARE platform and hiring solutions, any related support and maintenance services, and any related professional services associated with the deployment and/or implementation of such solutions, Managed Services which consist of revenues generated from Commercial Enterprise customers using company's content licensing services, advertising agency, influencer management and related services. It has a presence in the United States, the United Kingdom, France, Australia, Israel, and India.

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President Donald Trump's surprise 90-day pause on his aggressive tariff plan, announced Wednesday via social media, sparked immediate reactions from major business and economic figures. Here&#8217;s what they said.
<h3 class="wp-block-heading">Bill Ackman</h3>
Billionaire hedge fund manager Bill Ackman, in a <a href="https://x.com/BillAckman/status/1910031061817647206">post</a> on X, wrote, "This was brilliantly executed by Donald Trump.&#8221; He had previously advocated for a pause "to enable negotiations to be completed without a major global economic disruption that will harm the most vulnerable companies and citizens of our country." 
Ackman <a href="https://x.com/BillAckman/status/1910037445384470611">added</a>, "The benefit of @realDonaldTrump's approach is that we now understand who are our preferred trading partners, and who the problems are," noting "China has shown themselves to be a bad actor." In a direct call to Beijing, he said, "Advice for China: Pick up the phone and call the President. He is a tough but fair negotiator." Ackman also observed, "The countries that showed up first and offered zero tariffs will now be rewarded with more business."
<h3 class="wp-block-heading">Ray Dalio</h3>
Bridgewater Associates founder Ray Dalio <a href="https://x.com/RayDalio/status/1910166431053815819">stated</a> on X, "This is a great time for all involved to reconsider their approaches! … President Trump's decision to step back from a worse way and negotiate how to deal with these imbalances is a much better way." He added, "I hope and expect that he will do the same with the Chinese, which I believe includes negotiating a deal that appreciates the RMB against the dollar."
See also: <a href="https://www.benzinga.com/markets/equities/25/04/44726856/obama-era-economist-jason-furman-says-trump-tariffs-now-higher-more-inflationary-than-announced-warns-theyre-at-century-high-levels">Obama-Era Economist Jason Furman Says Trump Tariffs &#8216;Now Higher &amp; More Inflationary&#8217; Than Announced: Raising China Levies Outweighs 90-Day Delay On Others</a>
<h3 class="wp-block-heading">Mark Cuban</h3>
On Bluesky, Mark Cuban re-posted economist Paulo dos Santos's <a href="https://bsky.app/profile/plbds.bsky.social/post/3lmf65km4ks2m">statement</a> calling Trump's tariffs "the Ivermectin of economic strategy." Before the pause was announced, Cuban <a href="https://bsky.app/profile/mcuban.bsky.social/post/3lmf7rp3ym22n">wrote</a>, "What some people aren't factoring into their analysis is the reality that companies were buying tons of inventory to beat the tariffs."
<h3 class="wp-block-heading">David Sacks</h3>
PayPal and Yammer cofounder David Sacks <a href="https://x.com/DavidSacks/status/1910035952283857213">declared</a>, "They did everything they could to create a panic … They were rooting for Trump to fail even if it meant the market and economy crashed." He continued, "Fortunately their hopes have been dashed. Trump has been vindicated."
<h3 class="wp-block-heading">Richard Branson</h3>
Virgin Group co-founder Richard Branson <a href="https://x.com/richardbranson/status/1910055447324766461">posted</a>, "As I wrote earlier this week, this was a moment for the US administration to accept their mistake and change course." Earlier, he had stated, "Even if you agree with the premise of these tariffs, every reasonable effort should be made to give US companies sufficient time to adapt."
<h3 class="wp-block-heading">Diane Swonk</h3>
KPMG chief economist Diane Swonk <a href="https://x.com/DianeSwonk/status/1910039401511674154">cautioned</a>, "We have not escaped the tariff problems. The effective tariff rate is actually HIGHER with the pause than it was as announced on April 2." She <a href="https://x.com/DianeSwonk/status/1910047401643069676">added</a>, "The tariff pause is a moving target … takes the effective tariff rate to a RECORD."
<h3 class="wp-block-heading">Chris Fralic</h3>
Finally, First Round Capital partner Chris Fralic <a href="https://x.com/chrisfralic/status/1910024126573732166">posted</a>, "Good to be liberated from Liberation Day." He followed up <a href="https://x.com/chrisfralic/status/1910025255080583456">with</a>, "If your portfolio drops by X% and then rises by X%, you'll still be below your starting point."
Image via Shutterstock
Read next: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44726952/trump-media-surges-after-hours-following-a-21-rally-makes-potus-richer-by-410-millionofficial-trump-memecoin-also-gains">Trump Media Surges After Hours Following A 21% Rally, Makes POTUS Richer By $410 Million—Official Trump Memecoin Also Gains</a>

Events

Markets

Mark Cuban, Ray Dalio, Bill Ackman And Other Notables Share Their Take On Trump Tariff Pause: 'We Have Not Escaped…'

A wave of green swept across the meme coin market on Wednesday as President Donald Trump's 90-day reciprocal tariff pause sent top tokens in the sector soaring.
What happened: Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based Fartcoin spearheaded the rally, pumping over 40% in the last 24 hours. The token, with over $700 million in market capitalization, was also the biggest gainer in the entire cryptocurrency market.
With the latest increase, FARTCOIN&#8217;s monthly gains have increased to 221%, well above heavyweights of the space.
Dog-themed coins have also surged, with Bonk and dogwifhat up more than 13% in the last 24 hours.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11:15 p.m. ET)</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+40.37%</td>
<td>$0.7122</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>+13.98%</td>
<td>$0.00001073</td>
</tr>
<tr>
<td>Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td>+13.39%</td>
<td>$0.3627</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>+11.39%</td>
<td>$0.000006666</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/04/44677895/another-crypto-firm-set-to-go-public-galaxy-digital-foresees-nasdaq-listing-soon-after-sec-approves-delaware-move">Another Crypto Firm Set To Go Public: Galaxy Digital Foresees Nasdaq Listing Soon After SEC Approves Delaware Move</a>
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based Pepe joined in the rally, logging double-digit gains of over 11%. Blue-chip meme coins Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) lifted over 10%.
Dogecoin&#8217;s sentiment was also <a href="https://in.benzinga.com/markets/cryptocurrency/25/04/44708344/21shares-launches-dogecoin-fund-backed-by-dogecoin-foundation">bolstered by the launch</a> of an exchange-traded product tied to the memecoin. The ETP, launched by 21Shares, was listed on Swiss exchanges.
The total meme coin market capitalization jumped nearly 11% to $43.64 billion, with around $3.70 billion added in the last 24 hours. The total trading volume zoomed over $7 billion.
The recovery followed President Donald Trump&#8217;s surprise announcement of a <a href="https://in.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty" target="_blank" rel="noreferrer noopener">90-day pause on tariffs for countries</a> that have not retaliated against U.S. trade measures, bringing some relief to the battered cryptocurrency market
Photo by CMP_NZ on Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/04/44677671/does-the-us-government-know-who-is-satoshi-nakamoto-crypto-lawyer-sues-department-of-homeland-security-to-unravel-bitcoin-creators-identity">Crypto Attorney Sues US Government To Unmask Satoshi Nakamoto, Creator Of Bitcoin</a></li>
</ul>

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

Cryptocurrency

News

Movers

Trading Ideas

$BONK

$DOGE

$ETH

$PEPE

$SHIB

$SOL

$WIF

Dogecoin, Shiba Inu Power 10% After Trump Pauses Tariffs But This  Meme Coin Is The Real Winner Today

CNBC host Jim Cramer cheered President Donald Trump&#8217;s <a href="https://www.benzinga.com/news/global/25/04/44725016/us-steel-stock-tumbles-as-trump-says-we-dont-want-to-see-it-go-to-japan">latest comments</a> on the long-pending acquisition of United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) by Nippon Steel Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>)
Cramer took to X, stating that it was a &#8216;Smart move blocking Nippon Dumper Steel deal,&#8217; referring to the President&#8217;s statement that signaled his reluctance to give a go-ahead to the $15 billion deal.
<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">Smart move blocking Nippon Dumper Steel deal
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1910086508675281135?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What Happened: During a press meeting at the Oval Office on Wednesday night, Trump emphasized the importance of United States Steel for American industry, referring to it as &#8220;a very special company,&#8221; before adding &#8220;we don&#8217;t want it to go to Japan or any other place,&#8221; casting fresh uncertainty on the future of this deal.
This comes just days after Trump <a href="https://www.benzinga.com/markets/commodities/25/04/44679320/us-steel-gains-16-as-trump-orders-review-of-nippon-steels-blocked-acquisition-amid-national-security-concerns">ordered another review</a> of the blocked acquisition when the Committee On Foreign Investment In The United States was given 45 days to submit its recommendations.
See More: <a href="https://www.benzinga.com/markets/equities/25/04/44726524/us-futures-edge-higher-nikkei-surges-8-as-trumps-90-day-tariff-pause-triggers-historic-wall-street-rally-gold-gains-slightly">US Futures Edge Higher, Nikkei Surges 8% As Trump&#8217;s 90-Day Tariff Pause Triggers Historic Rally, Analyst Warns &#8216;We&#8217;re Not Out Of The Woods Yet&#8217;</a>
Why It Matters: The deal was blocked by the Biden Administration in January, citing national security issues, but Cramer&#8217;s opposition to it largely centers on the adverse impact it has on other U.S. steel companies, particularly the likes of Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), the largest steel-maker in the U.S, <a href="https://finance.yahoo.com/news/jim-cramer-nucor-nue-sell-142005180.html">reported</a> Yahoo Finance via Insider Monkey
In his Wednesday X post, Cramer refers to the Japanese giant &#8220;Nippon Dumper Steel&#8221; calling out its serial steel dumping activities in the United States. Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-18/commerce-slaps-tariffs-on-nippon-steel-amid-anti-import-promise">reported</a> that the U.S. Department of Commerce imposed tariffs on the Japanese steel giant last year.
Price Action: Shares of US Steel plunged nearly 11% to $40.19 in after-hours trading, following a 2.5% gain to $45.14 during the regular session. Meanwhile, Nippon Steel has been rallying since Thursday morning in Tokyo, climbing over 5% at the time of writing.
According to Benzinga Edge, United States Steel stock is attractive in the short, medium, and long terms, with strong momentum and value scores. However, how does it compare with competitors Nucor and Steel Dynamics? Check out <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> for deeper insights.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="140" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09220700/Screenshot-2025-04-10-at-7.36.38-AM-1024x140.png" alt="" class="wp-image-864986" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09220700/Screenshot-2025-04-10-at-7.36.38-AM-1024x140.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09220700/Screenshot-2025-04-10-at-7.36.38-AM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09220700/Screenshot-2025-04-10-at-7.36.38-AM-768x105.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09220700/Screenshot-2025-04-10-at-7.36.38-AM-1536x210.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09220700/Screenshot-2025-04-10-at-7.36.38-AM.png 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image via Shutterstock
Read More: 
<ul>
<li><a href="https://www.benzinga.com/personal-finance/25/04/44661713/a-beautiful-word-why-trump-insists-on-tariffs-as-essential-in-his-bid-to-save-american-manufacturing">&#8216;A Beautiful Word&#8217;: Why Trump Insists On Tariffs As Essential In His Bid To Save American Manufacturing</a></li>
</ul>

Government

NISTF

NPSCY

STLD

Cramer Praises Trump For Pushback On Nippon 'Dumper' Steel, Calls The Block A 'Smart Move'

Entities tied to President Donald Trump surged on Wednesday, boosting his personal fortune, after he announced a surprise 90-day pause on reciprocal tariffs.
What happened: Trump Media and Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares were up 5.23% in after-hours trading after closing 21.7% higher at $20.27 during Wednesday's regular trading session.
Similarly, the Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) meme coin traded at $8.08, up 7.51% in the last 24 hours.&nbsp; Entities affiliated with&nbsp;The Trump Organization&nbsp;<a href="https://www.benzinga.com/25/01/43082005/market-to-seek-further-information-on-utilization-of-80-trump-token-supply-says-bernstein">control 80% of the coin's supply</a>.
Trump Media, the parent company of social media platform Truth Social, was <a href="https://www.benzinga.com/25/04/44608924/trump-media-technology-stock-drops-on-share-registration-will-president-trump-sell-his-stake">co-founded by Trump</a>, who maintains a 52.9% stake in the company, according to the 13D filing reported on Dec. 30, 2024.
The stake translated to a total of 114,750,000 shares held by Trump, equating to a market value of $2.32 billion as per Wednesday's closing price. This meant that Trump personally gained $410 million in today's rally.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Asset</td>
<td>Value of Trump's Stake At Wednesday's Close</td>
<td>Value of Trump's Stake At Tuesday's Close</td>
<td>Intraday Gains&nbsp;</td>
</tr>
<tr>
<td>Trump Media</td>
<td>$2.32 billion</td>
<td>$1.91 billion</td>
<td>$410 million</td>
</tr>
</tbody>
</table>
</figure>
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/04/44677895/another-crypto-firm-set-to-go-public-galaxy-digital-foresees-nasdaq-listing-soon-after-sec-approves-delaware-move">Another Crypto Firm Set To Go Public: Galaxy Digital Foresees Nasdaq Listing Soon After SEC Approves Delaware Move</a>
Why It Matters: Notably, Trump transferred his entire <a href="https://www.benzinga.com/markets/equities/24/12/42609228/trump-transfers-entire-djt-stake-to-revocable-trust-ahead-of-inauguration">Trump Media stake</a> to a trust controlled by his eldest son, Donald Trump Jr., before his swearing-in.
Earlier this month, <a href="https://in.benzinga.com/25/04/44608924/trump-media-technology-stock-drops-on-share-registration-will-president-trump-sell-his-stake">a filing from the company registered</a> billions of dollars worth of shares for sale as a primary offering and a secondary offering. Interestingly, Trump promised not to sell his stake in the company during a campaign speech.
It's worth pointing out that Trump <a href="https://in.benzinga.com/trading-ideas/movers/25/04/44724530/trump-media-stock-soars-hours-after-president-says-its-a-great-time-to-buy-what-you-need-to-know">promoted DJT in a Truth Social post</a> Wednesday morning, shortly after the market opened, saying, "This is a great time to buy." The 90-day tariff announcement came three hours after his post.
The DJT stock fared low on the value score— a metric that evaluates an asset's relative worth by comparing its market price to fundamental measures—as of this writing. To access high-value stocks amid the ongoing rebound, access <a href="https://www.google.com/url?q=https://www.benzinga.com/premium/ideas/benzinga-edge-2%23:~:text%3DTurn%2520Market%2520Chaos,when%2520markets%2520rebound&amp;sa=D&amp;source=docs&amp;ust=1744256271670851&amp;usg=AOvVaw206KwEa8UKTx2GObOrXPIE">Benzinga&#8217;s proprietary Edge Rankings score</a>.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/04/44677671/does-the-us-government-know-who-is-satoshi-nakamoto-crypto-lawyer-sues-department-of-homeland-security-to-unravel-bitcoin-creators-identity">Crypto Attorney Sues US Government To Unmask Satoshi Nakamoto, Creator Of Bitcoin</a></li>
</ul>

Politics

$TRUMP

Trump Media Surges After Hours Following A 21% Rally, Makes POTUS Richer By $410 Million—Official Trump Memecoin Also Gains

The U.S. and Vietnam have launched trade negotiations after President Donald Trump paused the implementation of a <a href="https://in.benzinga.com/personal-finance/25/02/43858129/as-trump-pushes-for-reciprocal-tariffs-vietnam-looks-to-increase-us-farm-product-imports-to-ease-trade-risks">46% tariff on Vietnam&#8217;s exports</a>, a move that could bolster the country&#8217;s growing tech manufacturing sector.
What Happened: On Thursday, the Vietnamese government announced that it would begin trade talks with the U.S., following the temporary halt of a hefty tariff on Vietnamese goods, reported Reuters.
The 90-day pause, which came after discussions between U.S. Trade Representative Jamieson Greer and Vietnam&#8217;s Deputy Prime Minister Ho Duc Phoc, signals a potential shift in the two nations&#8217; economic relations.
See Also: <a href="https://www.benzinga.com/news/25/04/44703618/microsoft-fires-employee-protestors-who-disrupted-50th-anniversary-event-you-have-shown-no-remorse-f">Microsoft Fires Employee Protestors Who Disrupted 50th Anniversary Event: &#8216;You Have Shown No Remorse For The Effect That Your Actions Have&#8217;</a>
Why It Matters: Vietnam had a $123 billion <a href="https://www.benzinga.com/news/global/25/04/44650903/trump-reveals-vietnam-trade-talks-as-nike-stock-rallies-on-surprise-turnaround">trade surplus</a> with the U.S. last year, meaning Vietnam exported way more to the U.S. than it imported. 
The Southeast Asian nation serves as a vital manufacturing base for major U.S. companies such as Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Alphabet Inc.'s (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>) Google.
These tech giants have been expanding their operations in Vietnam, driven by cost-efficiency, access to skilled labor, and the need to mitigate the risk of higher tariffs on Chinese-made goods.
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Apple, for instance, has been leveraging Vietnam as a key production site for products like MacBooks and AirPods, <a href="https://www.benzinga.com/markets/asia/24/11/41705954/apple-supplier-foxconn-plans-80m-vietnam-chip-plant">with suppliers like</a> Foxconn and Luxshare establishing factories in the country. Apple shares are down 18.45% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Nvidia has also chosen Vietnam as the location for its <a href="https://www.benzinga.com/government/regulations/24/12/42347647/nvidia-partners-with-vietnam-government-to-develop-advanced-ai-and-more">third global AI research hub</a>, while Google has reportedly shifted its <a href="https://www.benzinga.com/news/24/02/37253133/google-follows-apples-lead-set-to-begin-making-smartphones-in-this-asian-country">Pixel production to avoid</a> potential tariffs on Chinese imports.
Intel is also producing semiconductor components in <a href="https://www.benzinga.com/news/23/02/30851197/intel-explores-ramping-chip-investment-in-vietnam-report">Vietnam as part of its broader</a> manufacturing strategy. The company stated last month that its Vietnam operations are central to the IDM 2.0 initiative, employing around 6,000 people in advanced tech roles.
Since launching its assembly and testing facility there, Intel has invested $1.5 billion and generated more than $90 billion in total export value from the site.
Last month, it was reported that Vietnamese Prime Minister Pham Minh Chinh pledged to expedite the licensing process for Elon Musk's companies, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Starlink, as part of a pilot initiative. Tesla is down 28.23% this year.
Image via Shutterstock
Read Next:
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<li><a href="https://in.benzinga.com/25/02/43589437/bill-gates-on-musk-and-bezos-space-obsession-im-not-a-big-mars-person-its-not-a-very-hospitable-place" target="_blank" rel="noreferrer noopener">Bill Gates Would Rather Save Earth Than Colonize Mars — Unlike Elon Musk, Jeff Bezos: ‘I&#8217;m Not a Big Mars Person… It&#8217;s Not a Very Hospitable Place&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Economics

Tech

AAPL

GOOG

GOOGL

INTC

NVDA

TSLA

Vietnam, A Hub For US Tech Giants Like Apple And Nvidia, Wants To Talk Trade After Trump Pauses 46% Tariff

Jason Furman, who served as Chairman of the Council of Economic Advisers under 44th President Barack Obama from 2013 to 2017, warned that U.S. tariffs have reached their highest levels in over a century and could prove more inflationary than initially anticipated, just as markets speculate about potential Federal Reserve interest rate decisions.
What Happened: &#8220;I don&#8217;t think people realize that in important respects tariffs are now higher &amp; more inflationary than what was announced last Wednesday,&#8221; Furman, now a Harvard professor, wrote on X. &#8220;Since then we&#8217;ve gone from 54% to 125% on China, our 3rd largest trading partner.&#8221;
Furman noted these increases &#8220;outweigh delaying the increases on 70+ others.&#8221;
The comments come amid market volatility following President Donald Trump&#8216;s implementation of sweeping tariffs, which briefly went into effect before he announced a 90-day reprieve for non-retaliating countries. 
The pause triggered <a href="https://www.benzinga.com/markets/equities/25/04/44726524/us-futures-edge-higher-nikkei-surges-8-as-trumps-90-day-tariff-pause-triggers-historic-wall-street-rally-gold-gains-slightly">Wall Street&#8217;s strongest rally since 2008</a>, with the S&amp;P 500 tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) surging 9.52% and Nasdaq-100 tracked by Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rocketing 12.2%.
While China now faces steeper 125% tariffs, the market remains concerned about inflation implications ahead of Thursday&#8217;s March Consumer Price Index report. Economists expect headline CPI to ease to 2.6% year-over-year, <a href="https://in.benzinga.com/economics/macro-economic-events/25/04/44716504/sink-or-swim-why-this-weeks-inflation-report-is-crucial-for-markets">down from February&#8217;s 2.8%</a>.
<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">I don&#39;t think people realize that in important respects tariffs are now higher &amp; more inflationary than what was announced on last Wednesday. Since then we&#39;ve gone from 54% to 125% on China, our 3rd largest trading partner. That outweighs delaying the increases on 70+ others.
&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1910103375300943948?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44726524/us-futures-edge-higher-nikkei-surges-8-as-trumps-90-day-tariff-pause-triggers-historic-wall-street-rally-gold-gains-slightly">US Futures Edge Higher, Nikkei Surges 8% As Trump&#8217;s 90-Day Tariff Pause Triggers Historic Rally, Analyst Warns &#8216;We&#8217;re Not Out Of The Woods Yet&#8217;</a>
Why It Matters: CME FedWatch Tool <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">shows</a> an 83.0% chance the Fed will hold rates at 4.25–4.50% at its May 7 meeting, and a 17.0% chance of a cut to 4.00–4.25%.
Fed Chair Jerome Powell has signaled caution, emphasizing the need for &#8220;greater clarity&#8221; before adjusting monetary policy. &#8220;The tariffs are bigger than almost all forecasters expected,&#8221; Powell noted, <a href="https://in.benzinga.com/markets/cryptocurrency/25/04/44650370/trump-powell-rate-cut-polymarket">warning they could raise inflation</a> with &#8220;more persistent effects possible.&#8221;
Trump has publicly urged rate cuts on his Truth Social platform, citing lower inflation and stronger employment, but Goldman Sachs economist Jessica Rindels expects &#8220;a boost to monthly inflation from the escalation in tariff policy.&#8221;
Veteran strategist Ed Yardeni warned that the Fed may remain reluctant to cut rates even if tariffs cause economic slowdown, potentially <a href="https://in.benzinga.com/economics/macro-economic-events/25/04/44716504/sink-or-swim-why-this-weeks-inflation-report-is-crucial-for-markets">keeping rates elevated longer than markets expect</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44720127/bitcoin-hits-82000-as-president-trump-announces-90-day-pause-on-reciprocal-tariffs-for-all-countries-but-china" target="_blank" rel="noreferrer noopener">Bitcoin Hits $82,000 As President Trump Announces 90-Day Pause On Reciprocal Tariffs For All Countries But China</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.

Equities

Federal Reserve

Obama-Era Economist Jason Furman Says Trump Tariffs 'Now Higher & More Inflationary' Than Announced: Raising China Levies Outweighs 90-Day Delay On Others

Wall Street experienced a <a href="https://www.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty">significant upswing</a> today, driven by a surprising announcement from President Donald Trump regarding a temporary pause on tariffs for certain countries. This development led to a broad risk-on rally, propelling major indices to multi-month highs. The Nasdaq 100 surged over 12% to 17,124.97, while the S&amp;P 500 climbed 9.5% to surpass 5,456 points. The Dow Jones Industrial Average rose 7.9% to 40,608.45.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Venus Concept Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>)
Venus Concept shares skyrocketed by 210.07%, closing at $8.93. The stock hit an intraday high of $14.50 and a low of $7.07, with a 52-week range of $17.49 to $2.16. The surge followed the company&#8217;s announcement of securing $23.24 million in <a href="https://www.benzinga.com/25/04/44706310/why-venus-concept-shares-are-trading-higher-by-over-200-here-are-20-stocks-moving-premarket">bridge financing</a> from Madryn Health Partners. In the after-hours trading the stock slipped by over 46%.
United States Steel Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>)
Shares of US Steel rose by 2.47%, closing at $45.14. The stock reached an intraday high of $46.18 and a low of $42.93, with a 52-week range of $46.18 to $26.92. In after-hours trading, the shares crashed nearly 11% to $40.19. The increase on Wednesday&#8217;s regular session came after Trump expressed his desire to <a href="https://www.benzinga.com/news/global/25/04/44725016/us-steel-stock-tumbles-as-trump-says-we-dont-want-to-see-it-go-to-japan">keep the company</a> from being acquired by Nippon Steel, emphasizing its importance as a U.S. company.
Redwire Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDW#NYSE">RDW</a>)
Redwire&#8217;s stock jumped 29.31%, closing at $9.97. It recorded an intraday high of $10.28 and a low of $7.82, with a 52-week range of $26.66 to $3.39. In the after-hours session, the shares rose 4.2%. The rally followed the company&#8217;s announcement of a <a href="https://www.benzinga.com/25/04/44721380/redwire-joins-ispace-us-in-pursuit-of-nasas-26b-lunar-economy-mission">memorandum of understanding</a> with Ispace Technologies-U.S., Inc. to pursue NASA&#8217;s $2.6 billion lunar economy mission.
Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)
Apple shares increased by 15.33%, closing at $198.85. The stock&#8217;s intraday high was $200.61, with a low of $171.89, and a 52-week range of $260.09 to $164.08. A BofA Securities analyst maintains a Buy rating on the stock, despite <a href="https://www.benzinga.com/analyst-ratings/price-target/25/04/44720209/apple-faces-up-to-90-cost-surge-on-iphones-if-us-tariffs-stick-analyst-looks-at-possible-shift-to-india-price-increase">potential cost surges</a> on iPhones due to tariffs.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock rose by 22.69%, closing at $272.20. The stock reached an intraday high of $274.69 and a low of $223.88, with a 52-week range of $488.54 to $138.80. CEO Elon Musk warned that those financing attacks against Tesla will <a href="https://www.benzinga.com/tech/25/04/44706944/elon-musk-warns-those-who-financed-tesla-attacks-will-go-to-prison">face legal consequences</a>.
Benzinga Edge Stock Rankings show Apple Momentum in the 51st percentile and Growth in the 45th percentile. Wondering which stock ranks higher? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Find out here</a>.<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener"></a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="788" height="109" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09222023/Screenshot-2025-04-10-at-11.20.02.png" alt="" class="wp-image-864990" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09222023/Screenshot-2025-04-10-at-11.20.02.png 788w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09222023/Screenshot-2025-04-10-at-11.20.02-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/09222023/Screenshot-2025-04-10-at-11.20.02-768x106.png 768w" sizes="(max-width: 788px) 100vw, 788px" /></a></figure>
Image via Shutterstock
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
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<li><a href="https://benzinga.com/markets/25/04/44660007/mark-cuban-says-between-free-trade-elon-musk-and-full-tariff-trump-it-is-the-president-who-will-win-as-st" target="_blank" rel="noreferrer noopener">Mark Cuban Says Between &#8216;Free Trade&#8217; Elon Musk And &#8216;Full Tariff&#8217; Trump, It Is The President Who Will Win As Stocks Futures Tank</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

VERO

Venus Concept, US Steel, Redwire, Apple, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Leading coins maintained positive momentum Wednesday overnight after pro-cryptocurrency Paul Atkins was confirmed as SEC Chairman.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>7.60%</td>
<td>$82,319.38</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>11.98%</td>
<td>$1,645.63</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>10.69%</td>
<td>$0.1579</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin soared beyond $82,000, while Ethereum topped $1,600, spurring gains in the broader market and erasing some losses from last week&#8217;s &#8216;Liberation Day&#8217; measures.
Over $370 million in short positions was wiped out from the market in the last 24 hours, including $194 million in Bitcoin alone.
The dramatic reversal followed President Donald Trump's surprise announcement of a <a href="https://in.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty">90-day pause on tariffs for countries</a> that have not retaliated against U.S. trade measures.
Later in the day, the confirmation of Atkins as the new SEC chairman boosted sentiment. Atkins had previously stated that building a regulatory framework for digital assets <a href="https://in.benzinga.com/markets/25/03/44531654/trumps-sec-pick-paul-atkins-says-his-top-priority-will-be-rational-crypto-regulations-marking-shift-from-gary-genslers-approach">would be his top priority</a>.
<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">I&#39;m pleased Paul Atkins is confirmed as Chairman of the SEC. I sat down w/ Mr. Atkins to discuss digital asset legislation, empowering Wyoming's blockchain future &amp; implementing reforms to the regulatory rulemaking process. I&#39;m confident his leadership will bring positive change. <a href="https://t.co/1cpGrNjSrg">pic.twitter.com/1cpGrNjSrg</a>
&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1910117597078512069?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Bitcoin&#8217;s Open Interest soared 9.65% in the last 24 hours, signaling a revival in speculative interest and an influx of new money into the derivatives market.
However, the majority of Binance traders flipped from bullish to bearish positioning for the apex cryptocurrency, according to the Long/Short ratio, implying expectations of a pullback.
The market sentiment improved from "Extreme Fear" to &#8220;Fear,&#8221; according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>45.41%</td>
<td>$0.7705</td>
</tr>
<tr>
<td>Flare (FLR)</td>
<td>29.40%</td>
<td>$0.01457</td>
</tr>
<tr>
<td>Sonic (S)</td>
<td>22.70%</td>
<td>$0.4868</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.62 trillion, following a jump of 7.81% in the last 24 hours.
Stocks made a historic comeback Wednesday following days of turmoil. The Dow Jones Industrial Average exploded 2,962.86 points, or 7.87%, to end at 40,608.45, marking its biggest gain since March 2020. The S&amp;P 500 skyrocketed 9.52% to 5,456.90, its best day since October 2008, while the tech-heavy Nasdaq Composite lifted 12.16%, ending at 15,267.91.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular on-chain analytics firm Santiment cautioned against the surge in optimism following the 90-day pause announcement.&nbsp;
The number of bullish comments for Bitcoin and Ethereum sharply exceeded bearish takes on social media.
"Crypto may rally for a bit as retail catches up with the news, but beware of the high level of FOMO and buying on &#8216;kick the can down the road&#8217; news on a topic that has remained unresolved," Santiment stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f973; Trader sentiments have predictably flipped bullish with the US 90-day pause on tariffs. Crypto may rally for a bit as retail catches up with the news, but beware of the high level of FOMO and buying on &#39;kick the can down the road&#39; news on a topic that has remained unresolved. <a href="https://t.co/u7hhIfhpvA">pic.twitter.com/u7hhIfhpvA</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1910051636573323334?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely followed cryptocurrency analyst Ali Martinez noted Bitcoin's breakout from a range.&nbsp;
"If the $80,700 support holds, we could see an upswing to $84,000 or even $87,000," the analyst projected.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is breaking out of a channel! If the $80,700 support holds, we could see an upswing to $84,000 or even $87,000! <a href="https://t.co/HXSS8mGwaZ">pic.twitter.com/HXSS8mGwaZ</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1910032876977914272?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44697841/raoul-pal-says-crypto-market-nowhere-near-covid-19-peak-fear">Raoul Pal Says Crypto Market Nowhere Near COVID-19 &#8216;Peak Fear&#8217;</a></li>
</ul>

$BTC

Bitcoin, Ethereum, Dogecoin Surge Amid Trump Tariff Pause, Paul Atkins SEC Confirmation: Analyst Anticipates BTC's Continued March To $87,000

Opening a <a href="https://www.benzinga.com/personal-finance/25/04/44656837/build-your-retirement-portfolio-while-saving-for-emergencies-a-roth-ira-can-double-as-an-emergency-fund-is-that-true">Roth IRA</a> early in life can lead to significant long-term benefits, thanks to the power of compound growth. Some parents even look into setting one up for their children—but not every type of income qualifies. On a recent episode of the "<a href="https://omny.fm/shows/suze-ormans-women-and-money/ask-kt-suze-anything-can-i-start-a-roth-for-my-3-year-old">Women &amp; Money</a>" podcast, Suze Orman addressed a listener question that highlights a common point of confusion.
<h2 class="wp-block-heading">The Listener Question: Is Medical Study Pay "Earned Income"?</h2>
A listener named Clay asked whether his 3-year-old daughter could open a Roth IRA using payments she received from participating in a medical study. The study, conducted through her pediatrician, involved simply monitoring the child after she received routine vaccinations.
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Orman's co-host, KT, clarified that the payment was sponsored by a medical group and was being issued in the child's name. But the big question was whether that kind of compensation qualified as earned income, which is required to contribute to a Roth IRA.
<h2 class="wp-block-heading">Suze Orman's Answer: It Doesn't Count</h2>
Orman responded with a quick quiz for KT: "Does it qualify for a Roth as earned income?"&nbsp;
KT answered, "No," and Suze confirmed, "Right. So it's taxable… but not earned income."
According to Orman, <a href="https://www.benzinga.com/personal-finance/25/04/44656920/how-a-40-year-old-went-from-earning-5-15-per-hour-to-more-than-1-million-per-year-i-always-kept-my-eyes-open-for-new-opportunities">earned income</a> means you've worked for the money. She drew a comparison to gambling: you might win money in Vegas and pay taxes on it, but that still doesn't make it earned income in the eyes of the IRS.&nbsp;
Trending: <a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a>
<h2 class="wp-block-heading">What the IRS Considers Earned Income</h2>
The IRS has specific rules about what qualifies as earned income for the purpose of IRA contributions. According to IRS guidelines and financial education platforms like Investopedia, earned income includes:
<ul>
<li>Wages, salaries, tips, and bonuses</li>
<li>Self-employment income</li>
<li>Certain scholarship or fellowship payments that are taxable</li>
<li>Taxable alimony (from agreements before 2019)</li>
<li>Nontaxable combat pay (for military members)</li>
</ul>
In contrast, payments received passively or without active labor—like interest, dividends, rental income, and payments for participation in a medical study—do not qualify as earned income, even if they're taxable.
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
<h2 class="wp-block-heading">Roth IRA Options for Minors</h2>
<a href="https://www.benzinga.com/personal-finance/25/01/43037776/11-year-old-aspiring-investor-asks-roth-ira-or-ugma-suze-orman-weighs-in">Children can have Roth IRAs</a>, but only if they have qualifying earned income. In many cases, this might come from a part-time job, working for a family business, or offering services like babysitting or lawn care — as long as it&#8217;s properly documented.
For minors with no earned income, a Roth IRA isn&#8217;t an option yet. However, families can explore spousal IRAs if one parent doesn't work, or wait until the child is old enough to earn income through employment or self-employment.
<h2 class="wp-block-heading">The Bottom Line</h2>
Receiving compensation from a medical study may sound like income, but according to Suze Orman — and the IRS — it doesn't meet the definition of earned income needed to contribute to a Roth IRA. If you're thinking about starting a retirement account for your child, make sure their earnings qualify under IRS guidelines.
When in doubt, consult a tax professional or <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> to ensure you're setting up the account correctly — and legally.
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<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
<li>‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
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Personal Finance

Does A 3-Year-Old Receiving Payments From A Medical Study Qualify For A Roth IRA? Here's What Suze Orman Says

On Wednesday, OpenAI countersued Elon Musk, accusing him of using harassment tactics to slow the company's progress and disrupt its plans for growth, including a <a href="https://www.benzinga.com/media/25/02/43646042/elon-musks-97-4-billion-openai-takeover-bid-reportedly-not-received-by-chatgpt-parent-another-one-of-his-tactics-says-sam-altman">contentious bid</a> for control.
What Happened: In the lawsuit, OpenAI alleges that Musk's tactics include press attacks, legal harassment, and an unsolicited bid for the company's assets.
The filing states, &#8220;Musk has tried every tool available to harm OpenAI,&#8221; and asks the court to stop him from taking further &#8220;unlawful&#8221; actions, reported Reuters.
The dispute centers on <a href="https://in.benzinga.com/tech/25/03/44066117/elon-musk-battles-openai-over-move-to-for-profit-model-and-experts-are-pushing-back">OpenAI&#8217;s transition to a for-profit model</a>, which is crucial for its current $40 billion fundraising round. OpenAI aims to complete this transition by the end of the year, but Musk has attempted to block it.
See Also:&nbsp;<a href="https://in.benzinga.com/markets/25/02/43491547/openais-sam-altman-looks-to-raise-funds-from-abu-dhabis-mgx-amid-increased-competition-report" target="_blank" rel="noreferrer noopener">OpenAI's Sam Altman Looks To Raise Funds From Abu Dhabi's MGX Amid Increased Competition: Report</a>
In a post on X, OpenAI added that Musk's actions were "bad-faith tactics to slow down OpenAI and seize control of the leading AI innovations for his personal benefit."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elon's nonstop actions against us are just bad-faith tactics to slow down OpenAI and seize control of the leading AI innovations for his personal benefit. Today, we counter-sued to stop him.
&mdash; OpenAI Newsroom (@OpenAINewsroom) <a href="https://twitter.com/OpenAINewsroom/status/1910105151492575611?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
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Why It Matters: OpenAI was co-founded in 2015 by 11 people, including Musk and current CEO Sam Altman. However, Musk parted ways with the company in 2018, prior to its rise as a major tech player following the release of ChatGPT.
In 2023, Musk founded his separate artificial intelligence company, xAI, and has since opposed OpenAI&#8217;s shift toward a for-profit structure.
Earlier this year, OpenAI&#8217;s board rejected a <a href="https://in.benzinga.com/25/02/43755069/openai-board-rejects-elon-musks-97-billion-acquisition-proposal-days-after-sam-altman-calls-it-a-move-to-slow-down-a-competitor">$97 billion acquisition proposal</a> from Musk, which was seen as an attempt to slow down a competitor.
Meanwhile, OpenAI has also finalized a historic <a href="https://in.benzinga.com/25/04/44580172/openai-finalizes-historic-40-billion-funding-round-valuing-company-at-300-billion-with-backing-from-softbank-and-microsoft">$40 billion funding round</a>, elevating its valuation to $300 billion. This funding is backed by major players like Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>).
Image via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://in.benzinga.com/25/02/43426111/openai-rethinks-open-source-as-deepseek-gains-ground-sam-altman-hints-at-major-changes-in-ai-model-development" target="_blank" rel="noreferrer noopener">DeepSeek Impact Makes OpenAI Rethink Open Source — Sam Altman Hints At Major Changes In Model Development</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Legal

Media

MSFT

SFTBF

SFTBY

Elon Musk Sued By Sam Altman-Led OpenAI Over 'Harassing' Tactics: ChatGPT Maker Alleges Tesla CEO 'Tried Every Tool' Available To Cause Harm

U.S. stock futures edged higher on Wednesday evening following President Donald Trump&#8216;s unexpected 90-day reprieve on reciprocal tariffs that triggered Wall Street&#8217;s <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44720903/nasdaq-100-eyes-strongest-day-since-2008-as-magnificent-seven-add-15-trillion-in-historic-market-rally">strongest rally since 2008</a>.
What Happened: S&amp;P 500 futures rose 0.5% to 5,488.00, while Dow Jones Industrial Average futures gained 280 points, or about 0.7%, to 40,966.00. Nasdaq-100 futures traded up 0.2% to 19,203.50.
In global markets, Japan&#8217;s Nikkei 225 jumped 8.29% on Thursday morning. Oil prices declined with WTI crude falling 0.79% to $61.86 per barrel, while gold inched up 0.21% to above $3,090 per ounce amid ongoing trade tensions.
The Dollar Index fell 0.23 points, or 0.22%, to 102.67.
The major indexes posted historic gains Wednesday, with the S&amp;P 500 tracked by SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) surging 9.52% and the Nasdaq 100 tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rocketing 12.2% — both marking their strongest one-day gains since October 2008. The Magnificent Seven tech stocks <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44720903/nasdaq-100-eyes-strongest-day-since-2008-as-magnificent-seven-add-15-trillion-in-historic-market-rally">collectively added $1.85 trillion</a> in market capitalization.
Gene Munster, Managing Partner at Deepwater Asset Management, cautioned that despite the market rally, "we're not out of the woods yet," as Trump's effort to "right-size China… will take time and involve some negative headlines." Still, he sees potential for a resolution within three months and believes "revenue and earnings should improve in the back half of the year." 
On a longer horizon, Munster said, "The substance of AI will exceed the hype," predicting 2–3 more years of an AI-fueled bull market before a potential bubble burst.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Interrupting today&#39;s market euphoria with my thoughts on the next three months and three years: • Three Months: Fun to see the move in the market today, but we're not out of the woods yet. Trump's real goal is to right-size China, which will take time and involve some negative…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1910045213680153013?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/04/44726187/kevin-oleary-isnt-satisfied-with-trump-raising-china-tariffs-to-125-the-shark-says-this-isnt-about-politics-its-about-fairness">Kevin O&#8217;Leary Isn&#8217;t Satisfied With Trump Raising China Tariffs To 125%: The Shark Says, &#8216;This Isn&#8217;t About Politics, It&#8217;s About Fairness&#8217;</a>
Why It Matters: The pause comes after Trump&#8217;s administration implemented sweeping tariffs that briefly went into effect before the announcement. Trump said the reprieve <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44721874/trumps-tariff-pause-saves-market-from-edge-of-the-cliff-dan-ives-says-biggest-wild-card-still-remains">applies immediately to non-retaliating countries</a>, while China faces steeper 125% tariffs due to &#8220;lack of respect&#8221; for global markets.
&#8220;This was the news we and everyone on the Street was waiting for,&#8221; Wedbush Securities analyst Dan Ives said, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44721874/trumps-tariff-pause-saves-market-from-edge-of-the-cliff-dan-ives-says-biggest-wild-card-still-remains">noting the announcement</a> &#8220;pulls stocks and the market from the edge of the cliff.&#8221;
Goldman Sachs quickly <a href="https://www.benzinga.com/government/regulations/25/04/44723376/goldman-sachs-scraps-recession-call-after-trumps-surprise-tariff-pause-as-wall-street-marks-strongest-day-since-2008">scrapped its recession forecast</a> following the announcement, reverting to a non-recession baseline with projected GDP growth of 0.5% for 2025 and a 45% recession probability.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44720127/bitcoin-hits-82000-as-president-trump-announces-90-day-pause-on-reciprocal-tariffs-for-all-countries-but-china">Bitcoin Hits $82,000 As President Trump Announces 90-Day Pause On Reciprocal Tariffs For All Countries But China</a></li>
</ul>
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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.

US Futures Edge Higher, Nikkei Surges 8% As Trump's 90-Day Tariff Pause Triggers Historic Rally, Analyst Warns 'We're Not Out Of The Woods Yet'

Last month, Anthony Scaramucci took to social media and shared a video in which he revealed how Warren Buffett's caution in 1999 cost him millions in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) stock and how he believes today's AI hype is following a similar path of skepticism and missed opportunity.
What Happened: In the video, the former Trump White House communications director and investor opened up about a 1999 encounter with Amazon founder Jeff Bezos, which set the stage for one of the most infamous missed opportunities in investing.
Scaramucci recalled sitting in the front row at a conference when Bezos presented his vision for Amazon. Despite Amazon being considered &#8220;overpriced&#8221; at the time and a likely casualty of the dotcom bubble, Bezos laid out a strategic roadmap, explaining how selling books would help the company reverse-engineer the location of warehouses.
&#8220;I listened to the whole thing wrote copious notes,&#8221; he said, adding that he was poised to buy in. But before he could act, legendary investor Buffett took the stage.
The founder of SkyBridge Capital recalled saying that Buffett called Bezos a &#8220;wonderful young man&#8221; and praised Amazon being worth more than Sears, Roebuck and Co. However, the Oracle of Omaha then listed reasons why one shouldn't invest in Amazon.&nbsp;
&#8220;I&#8217;m a disciple of Warren Buffett. I ripped up my notes, threw them in the garbage,&#8221; Scaramucci stated, reminiscing about the time.
Sears, Roebuck and Co. filed for bankruptcy in 2018, and Amazon&#8217;s market capitalization today stands at a staggering $2.025 trillion, making it the fourth most valuable company globally.&nbsp;
&#8220;If you [had] put $10,000 into Amazon on the day that Jeff Bezos made that presentation 26 years ago, it's worth $16.5 million as of this morning,&#8221; Scaramucci reflected. &#8220;You would have had to go through eight periods of time where Amazon dropped 50% one period of time where it actually dropped 90%. You just had to hold it.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Scaramucci drew a direct comparison to today&#8217;s AI hype, likening it to the skepticism faced by Amazon in its early days. He believes that, just like with Amazon, the current AI boom will face volatility and skepticism but ultimately reward those who back it early.
&#8220;We are in 1996 for AI, and I think that there&#8217;s going to be a lot of volatility and a lot of uncertainty and a lot of nay saying, but I am buying things,&#8221; he stated.
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See Also: <a href="https://in.benzinga.com/25/03/44132215/jeff-bezos-once-spoke-about-amazon-primes-risky-beginnings-and-why-free-shipping-seemed-like-a-terrible-idea-at-first">Jeff Bezos Said &#8216;Results Were Horrifying&#8217; After Amazon Prime&#8217;s Free Shipping Introduction But He Went Ahead With It Because Good Decisions Require &#8216;Instinct And Risk-Taking&#8217;</a>
Why It Matters: Previously, Buffett also <a href="https://www.benzinga.com/startups/24/09/40693497/warren-buffett-admitted-he-was-too-dumb-and-an-idiot-for-not-investing-in-amazon-early-on-but-finall">admitted his mistake</a> about Amazon's potential. &#8220;I was too dumb to realize,&#8221; he famously said, even calling himself an &#8220;idiot&#8221; for passing on the investment.
Buffett has also repeatedly praised Bezos, calling him a visionary with rare clarity. In 2016, the legendary investor stated, &#8220;You&#8217;re not going to find another Jeff Bezos.&#8221;
Buffett&#8217;s investment regrets extend beyond Amazon. He has acknowledged missing early opportunities in both Google and Microsoft. At a Berkshire Hathaway annual meeting, he candidly referred to these oversights as &#8220;stupid mistakes.&#8221;
Price Action: So far this year, Amazon (AMZN) shares have dropped 13.22%, but over the past 12 months, the stock is up 2.92%, based on <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
According to Benzinga Edge Stock Rankings, AMZN boasts a strong growth score of 94.20%. Wondering how it compares to other stocks? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here for the full breakdown</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://in.benzinga.com/25/02/43589437/bill-gates-on-musk-and-bezos-space-obsession-im-not-a-big-mars-person-its-not-a-very-hospitable-place" target="_blank" rel="noreferrer noopener">Bill Gates Would Rather Save Earth Than Colonize Mars — Unlike Elon Musk, Jeff Bezos: ‘I'm Not a Big Mars Person… It's Not a Very Hospitable Place'</a></li>
</ul>
Image via Shutterstock
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

AMZN

Anthony Scaramucci Says 26 Years Ago Warren Buffett's Amazon Caution Cost Him Millions: Former Trump Official Sees Today's AI Hype As History Repeating

On Thursday, Kevin O&#8217;Leary, known for his role on Shark Tank, expressed strong views on U.S.-China trade relations. He accused China of unfair practices, including intellectual property theft from American companies. 
What Happened: O&#8217;Leary highlighted that China has not adhered to promises made upon joining the World Trade Organization. He criticized the current U.S. response, stating, &#8220;That ends NOW.&#8221; 
Recently, the Trump administration announced a 90-day pause on global tariffs, excluding China, whose tariff will rise to 125%. 
O&#8217;Leary, however, believes this is insufficient and reiterated a 400% tariff on Chinese imports. He emphasized, &#8220;This isn't about politics. It's about FAIRNESS.&#8221; O&#8217;Leary&#8217;s comments came amid heightened trade tensions and significant policy shifts by the U.S. government.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">China doesn't play fair, and it's time we stop letting them get away with it. For decades, they've STOLEN intellectual property from American companies, including mine, and used it to UNDERCUT us in our own markets. They've broken every promise they made when they joined the… <a href="https://t.co/gqeJcII5GC">pic.twitter.com/gqeJcII5GC</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1910115456167354845?ref_src=twsrc%5Etfw">April 9, 2025</a></blockquote>
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See Also: <a href="https://benzinga.com/25/04/44708103/why-investors-should-watch-chinas-service-trade-amid-us-tariff-escalation-disney-and-imax-most-impacted" target="_blank" rel="noreferrer noopener">China May Hit US Where It Hurts Amid Trump&#8217;s Tariff War — Services Trade In Crosshairs, With Walt Disney, IMAX And Warner Bros. Discovery In Focus</a>
Why It Matters: O&#8217;Leary&#8217;s call for increased tariffs comes as the U.S. takes a more aggressive stance on trade with China. The Trump administration&#8217;s recent announcement of a 125% tariff on Chinese goods has already <a href="https://www.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty">sparked reactions</a> in the market. 
This move led to a surge in U.S. markets, with major indices <a href="https://www.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty">reaching multi-month highs</a>. The policy shift is seen as a targeted realignment, focusing on China while easing tariffs for U.S. allies. 
O&#8217;Leary&#8217;s proposal for a 400% tariff underscores the ongoing debate over how to address trade imbalances and protect American innovation. His stance highlights the broader concerns about China&#8217;s trade practices and the need for a level playing field for U.S. businesses. 
O&#8217;Leary, known as &#8220;Mr. Wonderful,&#8221; recently called for a 400% tariff on China, claiming the current 104% rate is too weak and accusing China of decades of unfair trade practices. He argued that the U.S. holds leverage, as President Xi Jinping&#8217;s power depends on sustaining employment.
O&#8217;Leary has been <a href="https://www.benzinga.com/news/global/25/04/44706557/kevin-oleary-calls-eu-tariff-proposal-a-huge-opportunity-for-trump-to-find-an-off-ramp-amid-global-market-volatility">vocal about trade issues</a>, previously discussing the EU&#8217;s tariff proposal as a chance for de-escalation.
Image via Shutterstock
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Kevin O'Leary Isn't Satisfied With Trump Raising China Tariffs To 125%: The Shark Says, 'This Isn't About Politics, It's About Fairness'

Financial guru <a href="https://in.benzinga.com/personal-finance/25/04/44607650/woman-wins-3-million-in-the-lottery-dave-ramsey-says-i-hope-theres-a-market-crash-right-before-you-put-this-money-in">Dave Ramsey</a> has helped many people with his bestselling books and "The Ramsey Show." However, you can also get valuable insights from Ramsey by looking at his X feed.
He recently <a href="https://x.com/DaveRamsey/status/1907080910706442708">put out an X post</a> saying, "Change is painful. Few people have the courage to seek out change."
While seeking change is intimidating for many people, it may be the exact shift you need to transform your finances.&nbsp;
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<h2 class="wp-block-heading">The Pain Of Change Vs. The Pain of Staying The Same</h2>
One X user left a comment that invited others to consider the pain of change and the pain of staying the same. Ramsey mentioned that change is painful, but the long-term pain can be much worse if you stay on your current path.
Someone who is deep in credit card debt has to make some uncomfortable changes to claw their way out. Consumers in this situation may have to pick up a <a href="https://www.benzinga.com/25/03/44539746/31-of-u-s-workers-have-a-side-hustle-but-which-professions-are-the-most-likely-to-take-on-side-gigs">side hustle</a> to reduce their bills. However, they may also have to cut unnecessary subscriptions and get more disciplined with how they spend money.
Trending: These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a>
<h2 class="wp-block-heading">The Impact Of Change</h2>
Someone who is comfortable with overspending may be in for a rude awakening when they are forced to make changes. One way to make change easier is to consider how the best-case scenario will change your life.
Not everyone wants to work extra hours and learn new skills. However, doing those things can pave the way for significant financial change. Instead of thinking about how much work you have to do now, keep your eyes on the long-term changes.
The actions you take today can bring you from a deep debt to a strong financial position. It takes a lot of work to put yourself in a position where you don't have to worry about money. For most people, that payoff is worth the short-term sacrifices you may have to make to fuel that change.
See Also: <a href="https://www.benzinga.com/money/suze-orman-retirement-bucket">&#8216;Which Bucket Do I Draw From First?&#8217; Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts</a>
<h2 class="wp-block-heading">Using Pain As A Tool</h2>
One X user commented on Ramsey's post saying, "Pain is a tool. Use it as fuel and let it propel you into a better version of yourself."
Many people respond strongly to pain. The pain of loss is more potent than an equivalent gain. It can stir up a significant emotional response and lead to meaningful action. While it's good to view how your life can be different if you follow through on your financial transformation, you can also consider what will happen if you don't change.
Someone who continues on the path of deep credit card debt may have no money left by the time they retire. Then, they'll have to work hard in their 70s and 80s even when their bodies are starting to give out.&nbsp;
Not changing your bad money habits can also result in fewer opportunities for your family and a lower quality of life. You also may not be able to check off many of the items on your bucket list.
Pain can be a great motivator, and it can propel you to make incredible changes in your life. Ramsey said in his post that few people have the courage to make change. However, if you are one of the people who is courageous enough to make a change, it will be easier to act courageously and take action toward other goals.
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<li><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.</li>
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Dave Ramsey Reveals One Trait Among Successful Financial Transformations: 'Few People Have The Courage To Seek Out Change'

<a href="https://www.benzinga.com/news/25/04/44590350/courtroom-clash-no-thank-you-sparks-lawsuit-as-altman-shuts-down-musks-97-4b-bid">Elon Musk </a>is once again making headlines, this time with his AI startup xAI and its massive computing ambitions in Memphis, Tennessee. With plans to install one million Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) graphics processing units, Musk wants to turn the city into a global AI powerhouse.&nbsp;
But there&#8217;s just one small problem—power, lots of it. And Memphis&#8217;s grid might not be ready for the jolt.
<h2 class="wp-block-heading">A Supercomputer Dream Faces a Power Reality Check</h2>
Since June 2024, xAI has filed 14 construction permit applications totaling an estimated $405.9 million. These permits cover everything from a $30 million computer equipment installation to a $3.9 million crash-resistant perimeter fence, according to <a href="https://www.businessinsider.com/elon-musk-xai-data-center-colossus-power-memphis-2025-4">Business Insider</a>. But powering this supercomputer isn&#8217;t as simple as flipping a switch.
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Musk&#8217;s company has requested 300 megawatts from Memphis Light, Gas and Water, or MLGW.&nbsp; Still, it has only secured approval for 150 megawatts so far, according to a Nov. 7<a href="https://tva-azr-eastus-cdn-ep-tvawcm-prd.azureedge.net/cdn-tvawcma/docs/default-source/about-tva/board-of-directors/november--7-2024/2024-11072024-board-meeting-minutes-signed.pdf?sfvrsn=fde0917c_1"> meeting report</a> by the Tennessee Valley Authority board of directors. That&#8217;s not nearly enough to keep 1 million graphics processing units humming.&nbsp;
To make up for this, xAI has applied to build an electrical substation, which uses gas-powered generators from Caterpillar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) subsidiary Solar Turbines, which can produce a combined 250 megawatts. Still, this falls short of the massive energy needs ahead.
In a<a href="https://www.ted.com/talks/shaolei_ren_ai_consumes_a_lot_of_water_but_why"> TED Talk</a>, electrical and computer engineering professor at the University of California Riverside Shaolei Ren, said, &#8220;Every time you ask an AI chatbot a question, you also consume water—without realizing it. AI doesn&#8217;t just require computing power; it needs cooling, and that cooling comes with a cost.&#8221;
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<a href="https://arxiv.org/abs/2304.03271">According to the study</a>, "Making AI Less ‘Thirsty': Uncovering and Addressing the Secret Water Footprint of AI Models," which Ren was the corresponding author of, training the GPT-3 language model in Microsoft&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) state-of-the-art U.S. data centers can directly evaporate 700,000 liters of clean freshwater.
Despite the challenges, Memphis officials are eager to see the project succeed. They&#8217;ve called xAI&#8217;s investment a game-changer that could establish the city as a global AI hub. In an Oct. 5, <a href="https://www.youtube.com/watch?v=sQkYdv1w04o">WMC-TV</a> board meeting, Edge CEO Joann Massey said, &#8220;This is a phenomenal event that just happened in Memphis. This is the catalyst for growth, for moving our city forward, and a big investment. We all expect to see great things happening.&#8221; However, the power concerns are very real.
On Jan. 8, MLGW CEO Doug McGowen acknowledged the potential roadblocks during a <a href="https://memphistn.gov/watch-city-council-meetings/">public meeting</a> of the Memphis City Council, stating, "People can announce many things, and I think that&#8217;s important for our community—that we get excited about upcoming <a href="https://www.benzinga.com/markets/25/02/43575286/retiree-earning-60k-dividends-on-500-000-investment-shares-top-3-stock-picks-not-rich-but-not-compla">opportunities</a>. But as you know, there are pragmatic realities about a lot of things."&nbsp;
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Musk's xAI Aims For 1 Million GPUs In Memphis—But Can The City's Grid Handle A $27B AI Power Surge?

Shares of tech companies soared following President Donald Trump's announcement that he will place a 90-day pause on tariffs for countries that have not retaliated against U.S. trade measures. Markets rose on the news, driven<a href="https://www.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty"> higher by tech stocks. </a>
The Details: Technology was the top performing sector in the S&amp;P 500 on Wednesday with the Technology SPDR Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) gaining 13.43% in the session. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), the fund's largest holding, rose 10.13% and its second-largest holding, Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), climbed 15.33% in its best one-day performance since 1998. 
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The sector's top two gainers were both chip stocks, with Microchip Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) up 27.05% and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), which gained 23.82% in the tech-fueled rally. 
Other notable gainers in the sector include Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), which rose 19% and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which climbed 18.72% in the session. 
Expert Ideas: Wedbush tech analyst Dan Ives said that<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44721874/trumps-tariff-pause-saves-market-from-edge-of-the-cliff-dan-ives-says-biggest-wild-card-still-remains"> he expects</a> "massive negotiations" to start to pick up and noted China remains the "biggest wild card" for markets.&nbsp;
"For tech stocks, this was much-needed relief and pulls stocks and the market from the edge of the cliff, although China remains the biggest X variable related to Apple and the broader supply chain," Ives said.
Markets <a href="https://www.benzinga.com/economics/macro-economic-events/25/04/44720903/nasdaq-100-eyes-strongest-day-since-2008-as-magnificent-seven-add-15-trillion-in-historic-market-rally">shot higher</a> following Trump's announcement, with the tech-heavy Nasdaq 100 posting its best day since January 2001. 
"The market's move upward is violent, and speaks to how badly the market was looking for clarity on this issue," said Chris Brigati, chief investment officer at SWBC.&nbsp;
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Nearly three decades after her passing, Princess Diana's legacy continues to captivate collectors worldwide. On June 26, <a href="https://www.juliensauctions.com/en">Julien's Auctions</a> will host "Princess Diana's Style and a Royal Collection" at the Peninsula Beverly Hills, <a href="https://www.vanityfair.com/style/story/princess-diana-wardrobe-auction?utm_source=nl&amp;utm_brand=vf&amp;utm_mailing=VF_CH_040925&amp;utm_medium=email&amp;bxid=65f99495919a8e1ac2043278&amp;cndid=76750232&amp;hasha=f9aacf9e140c558cf2966f87d3f9090d&amp;hashb=08b5506c634fa4e50453b830301e29884b06756c&amp;hashc=e846c2d8e9b4b53fcb933dfe60dd619a3c6bc2c0df29c6abdaf5307dd3ff1646&amp;esrc=MARTECH_ORDERFORM&amp;mbid=mbid%3DCRMVYF012019&amp;source=EDT_VYF_NEWSLETTER_0_COCKTAIL_HOUR_ZZ&amp;utm_campaign=VF_CH_040925&amp;utm_term=VYF_Cocktail_Hour">according </a>to Vanity Fair, featuring more than 200 items spanning royal history — from Diana herself to Queen Elizabeth II, the Queen Mother, and the Duke and Duchess of Windsor. 
The centerpiece? A curated collection of Diana's clothing and personal items, some originally sold at her famous 1997 Christie's auction — a fundraiser she called a "fresh start" following her divorce. That event raised over $3 million for the AIDS Crisis Trust and the Royal Marsden Hospital's Cancer Fund. 
The auction on June 26 follows two consecutive years of record-breaking sales, including the 2023 auction of a&nbsp;1985 evening gown by Jacques Azagury&nbsp;that fetched $1.14 million, and the 2024 sale of a&nbsp;1987 Victor Edelstein evening gown&nbsp;for $910,000, along with several other dresses commanding six-figure prices, says Julien&#8217;s Auctions.
Julien's Auctions co-founder Martin Nolan attributes this continued fascination to Diana's timeless elegance and her carefully cultivated image. "She knew how to dress and read the room," he says.
Among the standout pieces in this auction is her 1989 Bellville Sassoon "caring dress," a colorful floral day dress worn during hospital visits with children. Another highlight: a cocktail dress symbolizing her post-divorce independence — a nod to her infamous "revenge dress."
Also included are Diana's handwritten notes, along with fashion from other royals. Queen Elizabeth II and the Queen Mother are represented by their signature bright ensembles, while the Duke and Duchess of Windsor offer a glimpse into high fashion.
Before the Beverly Hills auction, the collection will tour globally, stopping at the Museum of Pop Culture in Seattle, Ireland's Museum of Style Icons, and a London venue. For fans, it's a chance to view — and perhaps own — a piece of royal history that continues to resonate across generations.
A portion of the auction proceeds will benefit Muscular Dystrophy UK, <a href="https://www.juliensauctions.com/en/articles/the-crown-jewel-of-couture-princess-diana-s-largest-wardrobe-auction-ever-announced-at-julien-s">says</a> Julien&#8217;s Auctions in a press release.
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Photo: <a href="https://www.shutterstock.com/g/mark+reinstein">mark reinstein</a> via Shutterstock

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BBB Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TBBB#NYSE">TBBB</a>) reported quarterly losses of $(0.001) per share. The company reported quarterly sales of $814.60 million which beat the analyst consensus estimate of $810.71 million by 0.48 percent.

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Shaquille O'Neal might be worth half a billion dollars, but don't expect his six kids to be coasting on that wealth anytime soon.
"I like to let them live a life of trials and tribulations," Shaq said on an episode of <a href="https://youtu.be/QyY8FBqkhzk?si=gHvKbswwW8jlhz32">"The Big Podcast" in 2022</a>. "I don't want to always put it on a platter for them." And he meant it. O'Neal—who has built an empire well beyond basketball—makes it clear that being the child of an NBA legend doesn't come with a free ride.
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At the time of the interview, he was specifically referencing his youngest daughter, Me'arah O'Neal, then 16, who was already drawing attention from college recruiters. Fast forward to the present and she's now 18 and continuing to make her own mark.&nbsp;
While some parents might jump in to micromanage every decision, Shaq prefers to hang back. "They know what I know," he said about his kids navigating college athletics. "I'm here if they need me, but I want them to figure things out for themselves."
Shaq's hands-off-but-there approach isn't just about sports—it's about preparing his children for real life. He's long made it clear that his kids won't inherit his fortune just for being his kids. He expects them to earn their own success. That means college degrees, business plans, and a whole lot of self-motivation.
"If you want me to invest in one of your companies, <a href="https://www.benzinga.com/personal-finance/24/09/40943843/we-aint-rich-im-rich-nba-legend-shaq-says-his-daughters-and-sons-dont-get-equal-treatment-my-boy">you're going to have to present it,</a>" he said on the "Earn Your Leisure" podcast. "I'm not giving you nothing."
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It's a philosophy rooted in his own story. Shaq didn't come from money. Raised in a military household by a strict stepfather, he grew up with discipline, expectations, and hustle. He didn't just land in success—he <a href="https://www.benzinga.com/personal-finance/25/03/44068159/nba-legend-shaq-says-his-net-worth-quadrupled-once-he-took-note-from-jeff-bezos-and-started-investing-in-things-that-change-peoples-lives">worked for it, earned it, and multiplied it</a>. Post-NBA, he's turned that mindset into a brand—investing in franchises, <a href="https://www.benzinga.com/startups/24/09/40677330/shaq-refused-to-pay-80-000-for-security-and-made-a-surprising-choice-he-invested-in-a-company-bezos">tech companies</a>, and everything from Five Guys to car washes.
Now worth an estimated $500 million to $600 million, he's not just sitting courtside—he's in boardrooms, on panels, and behind business deals. But when it comes to family, Shaq is still all about the fundamentals: work hard, stay grounded, and don't skip the hard stuff.
In his eyes, the "trials and tribulations" aren't just obstacles—they're the training ground. And for Shaq, handing over a perfect life would be missing the whole point.
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Shaq Says He Won't Hand Everything to His 6 Kids 'On A Platter' Just Because He's Super Rich  —'Let Them Live a Life of Trials and Tribulations'

As markets wobble, inflation eats at savings, and global instability fuels anxiety, one 65-year-old posed the question that's now echoing across retirement circles: "Is this the worst time to be 65 years old in America?"
The post—shared by a <a href="https://www.reddit.com/r/Retire/s/dhhVFNrEP5">solo business owner in the r/Retire subreddit</a>—wasn't some abstract financial rant. It was personal. "I raised my children on my own for the bulk of their lives and didn't have 2 nickels to rub together until the last few years," the user wrote. "I started saving only in the last 5 or so years." Now, staring down retirement with limited time to catch up, he's watching a volatile economy tighten the screws.
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His concerns weren't just about his own balance sheet. "Did our executive branch just set fire to my hopes and expectation to be able to enjoy the 40+ years of hard work?" he asked.
He's not alone. Many older Americans—especially late savers or small business owners—<a href="https://www.benzinga.com/personal-finance/24/11/41918104/are-you-on-track-to-retire-rich-heres-the-nest-egg-you-need-to-be-considered-a-wealthy-retiree">are looking at their retirement plans</a> and wondering if the ground is shifting beneath them. Even those with some savings are finding that higher costs, uncertain markets, and geopolitical tension are chipping away at long-held expectations.
"I'm glad I'm not young and I feel really bad for my adult children going through these times," one commenter wrote, saying they're now prioritizing <a href="https://www.benzinga.com/personal-finance/24/11/41987495/the-greatest-wealth-transfer-in-history-is-here-but-72-of-americans-say-theyre-not-ready-for-it">leaving money behind for their kids</a> instead of spending it themselves.
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Others pushed back on the gloom, pointing to market resilience: "Where was the market a year ago? Look at the last five years—things have gone on a major tear." A market dip, one said, might actually be a good opportunity for younger investors to jump in.
But one reply hit on something deeper: "The market recovering doesn't fix the damage being done, which is structural." From global trust in the U.S. dollar to growing geopolitical friction, the poster argued that the economic model itself may be shifting in ways that don't resemble anything retirees saw in 2008—or ever.
For this 65-year-old business owner, retirement isn't about a 401(k) or a cushy pension. It's about figuring out how to wind down a niche business with no clear resale value, relocate from expensive New York, and support a partner who hasn't been able to save.
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He's cobbled together "some $" that could sustain them both, but he's not sure it's enough. And that uncertainty—about both personal finances and the bigger picture—is what seems to be hitting a nerve.
For millions of <a href="https://www.benzinga.com/personal-finance/25/04/44639000/thats-a-lot-billionaire-blackrock-ceo-larry-fink-says-people-need-2-08-million-to-retire-comfortably-but-almost-no-one-is-close">Americans approaching retirement age</a>, the question isn't just whether the market will bounce back. It's whether the next 20 years will look anything like the last 40—and if all that effort will buy the retirement they've been promised for decades.
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'Is This the Worst Time to Be 65 in America?' — Business Owner Fears 'Executive Branch' Crushed His Retirement Dreams After 40 + Years Of Hard Work

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