Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is poised to replace Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) on the Dow Jones Industrial Average index.



What Happened: On Friday, S&amp;P Dow Jones Indices announced that Nvidia, along with paint-maker Sherwin-Williams Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>),&nbsp;will join the index next&nbsp;week.



Intel will be replaced by Nvidia on the Dow Jones Industrial Average index after a 25-year run, while Sherwin-Williams will replace Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>).



This change highlights&nbsp;the shift in the chipmaking&nbsp;market and is another blow for Intel, which has seen a decline in its market position.



Intel&#8217;s shares have dropped 54% this year, making it the worst performer on the index and leaving it with the lowest stock price on the price-weighted Dow.



See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce">Intel Says It Won&#8217;t Even Make $500M From Gaudi AI Chips In 2024 Despite Nvidia Minting Billions: CEO Gelsinger Says Uptake &#8216;Slower Than We Anticipated&#8217;</a>



&#8220;Losing the status of Dow Jones inclusion would be another reputational blow for Intel, as it grapples with a painful transformation and loss of confidence,&#8221; said Susannah Streeter, head of money and markets at Hargreaves Lansdown, reported Reuters.



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.



Why It Matters: Intel, once a dominant player in the chipmaking industry, has lost its manufacturing edge to rival Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and missed out on the lucrative artificial intelligence boom.



This development comes&nbsp;after Intel expressed optimism about&nbsp;its future, despite&nbsp;warning that it had &#8220;a&nbsp;lot of work to do.&#8221;&nbsp;Intel&#8217;s struggles were evident in its <a href="https://www.benzinga.com/news/24/11/41689889/whats-going-on-with-intel-shares-friday">third-quarter earnings report</a>, where it reported a loss of 46 cents per share, missing analyst estimates.



Intel&#8217;s&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41691058/intel-struggles-with-market-share-profitability-q3-analyst-insights">struggles with market share and profitability</a>&nbsp;have led to a cautious outlook from analysts. The company also&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce">fell short of its revenue targets</a>&nbsp;for its Gaudi AI accelerator program in 2024.



On the other hand,&nbsp;Nvidia has emerged as a&nbsp;cornerstone of the global semiconductor&nbsp;industry, thanks to the essential&nbsp;role its chips play in&nbsp;powering generative AI technologies.&nbsp;The company&#8217;s shares have risen&nbsp;more than two-fold this year alone.



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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: Shutterstock

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Nvidia Rides AI Wave To Replace Intel On Dow Jones Industrial Average, Ending Its 25-Year Run

Mark Cuban, the billionaire entrepreneur known for his success with the Dallas Mavericks and his time on Shark Tank, once faced a moment that nearly destroyed his young company. In a candid <a href="https://www.youtube.com/watch?v=0DAVdTTgGcU">conversation</a>, Cuban shared the story of how a trusted employee almost left his business completely bankrupt — taking $82,000 out of the $84,000 they had in the bank.



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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a></li>
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It all happened in the early days of Cuban&#8217;s first company, MicroSolutions. Back then, Cuban and his small team were <a href="https://www.benzinga.com/personal-finance/24/10/41403246/mark-cuban-was-so-broke-he-didnt-even-have-200-needed-to-open-a-bank-account-and-now-hes-worth-b">surviving on a tight budget</a>, making every dollar count.



He recalls the moment he got a call from the bank that would send chills down any entrepreneur's spine. The receptionist at MicroSolutions, Renee Hardy, had a pretty straightforward job: prepare the vendor payments, seal them in envelopes, and drop them at the post office.&nbsp;



However, she had other plans. Instead of sending the payments to their rightful places, she used a trick as old as time — Wite-Out. She covered up the payees&#8217; names and wrote her own, taking those checks straight to the bank.



<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">&quot;She took $82K of the $84K that we had. We were flat broke.&quot; &#8211; <a href="https://twitter.com/mcuban?ref_src=twsrc%5Etfw">@mcuban</a> <a href="https://t.co/3rhdZGwgw2">pic.twitter.com/3rhdZGwgw2</a>&mdash; Club Shay Shay (@ClubShayShay) <a href="https://twitter.com/ClubShayShay/status/1840564721293893787?ref_src=twsrc%5Etfw">September 30, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>



&#8220;I got a call from the bank saying, &#8216;Sir, this woman just came through the drive-thru and the checks were whited out,'&#8221; Cuban said, still amazed by the memory. He asked if they had cashed them, and the response made his heart sink: &#8220;Of course we did, we&#8217;re a bank, sir.&#8221; Just like that, she had drained $82,000 — almost everything MicroSolutions had at the time.



&#8220;We were flat broke,&#8221; Cuban said. Cuban faced a crisis that might have permanently shut down the company, with just $2,000 remaining in the bank and vendor payments already bouncing. He had to give each vendor a call, lay out the circumstances, and implore them to cooperate with his company.&nbsp;



Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>



Fortunately, they agreed, giving Cuban and his team some breathing room. They persisted, and the small business would go on to become <a href="https://www.benzinga.com/personal-finance/24/06/39447720/from-business-sale-to-retirement-wealth-how-mark-cuban-turned-91-of-his-employees-into-millionai">one of Cuban&#8217;s first big achievements</a>.



&#8220;Then I was mad,&#8221; he says, and shared that they couldn&#8217;t find her to press charges and how &#8220;no one&#8217;s found her since.&#8221;



But despite the setback, Cuban remained optimistic about people. Instead of letting this experience turn him bitter, he used it as fuel. &#8220;People steal,&#8221; he said bluntly, but added, &#8220;It's a good problem to have — it means you've got it.&#8221;



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Startups

'She Took $82,000 Of The $84,000 We Had' Says Mark Cuban About The Time His Employee Almost Bankrupted His Company — 'We Were Flat Broke'

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



Major U.S. indexes saw a volatile close to the week, with the S&amp;P 500 and Nasdaq each down over 1%, largely influenced by recent earnings impacts from tech heavyweights like Microsoft and Meta Platforms. The Dow also edged lower by 0.2%, reflecting broader market apprehension following an October close that ended a five-month run of gains.



The CBOE Volatility Index (VIX) spiked 34% in October—its third-highest increase for that month in an election year—indicating heightened market caution. 



Adding to this outlook, October's nonfarm payroll numbers reported only 12,000 new jobs, which has strengthened expectations for a Fed rate cut in the coming weeks. Markets largely predict <a href="https://www.benzinga.com/news/earnings/24/11/41696201/market-volatility-soars-ahead-of-elections-tech-earnings-mixed-strikes-and-hurricanes-knock-employm">another reduction by year-end.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41646462/michael-saylor-says-bitcoin-remedy-to-fix-unhealthy-balance-sheets-as-microstrategy-unveil">Michael Saylor Says Bitcoin Remedy To Fix Unhealthy Balance Sheets As MicroStrategy Unveils Massive $42B BTC Purchase Plan</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reveals MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) CEO Michael Saylor&#8216;s argument that Bitcoin can stabilize corporate finances, announcing a $42 billion initiative to expand its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings, which currently total 252,220 BTC, valued at $18.23 billion.



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41596454/tesla-bull-says-elon-musk-led-ev-giant-is-no-longer-seen-as-an-auto-company-by-inve">Tesla Bull Says Elon Musk-Led EV Giant Is No Longer Seen As An Auto Company By Investors, Explains Why Its Stock Trades At A Hefty Premium To Legacy Rivals</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, shares insights from Gary Black of The Future Fund, who argues that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) commands a premium valuation as investors increasingly view it as a tech company due to its growth in EVs and autonomous driving.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41633360/dogecoins-rally-has-just-begun-for-this-cycle-predicts-trader-who-foresees-parabolic-surge">Dogecoin&#8217;s Rally &#8216;Has Just Begun For This Cycle,&#8217; Predicts Trader Who Foresees Parabolic Surge In November</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, features a trader&#8217;s analysis that Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) could surge in November, fueled by patterns from prior post-halving cycles, with a breakout above 20 cents as a key target. 



&#8220;<a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-">DJT Short Squeeze Could Push Stock To $60 If Trump Wins, But Analysis Says Loss Could Make Shares &#8216;Worthless&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, explains that Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares are poised for volatility amid Election Day, with S3 Partners noting that a Trump victory could trigger a short squeeze pushing prices to $60, while a loss might render shares worthless.



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



<a href="https://www.benzinga.com/general/entertainment/24/10/41616337/google-bought-youtube-for-1-65b-and-now-it-prints-50b-in-revenue-just-in-1-year-sundar-pich">Google Bought YouTube For $1.65B And Now It Prints $50B In Revenue Just In 1 Year — Sundar Pichai Says Alphabet &#8216;Leaning Into The Living Room Experience&#8217;</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41605605/gold-hits-record-highs-defies-market-gravity-why-the-precious-metal-is-decoupling-f">Gold Hits Record Highs, Defies Market Gravity: Why The Precious Metal Is Decoupling From Treasury Yields</a>



<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41633360/dogecoins-rally-has-just-begun-for-this-cycle-predicts-trader-who-foresees-parabolic-surge">Dogecoin&#8217;s Rally &#8216;Has Just Begun For This Cycle,&#8217; Predicts Trader Who Foresees Parabolic Surge In November</a>



The Bears



&#8220;<a href="https://www.benzinga.com/government/24/10/41604100/trump-goes-after-taiwan-semiconductor-on-joe-rogan-podcast">Trump Goes After Taiwan Semiconductor On Joe Rogan Podcast</a>,&#8221; by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, covers Donald Trump&#8216;s critique of Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) on the Joe Rogan podcast, accusing Taiwan of undermining U.S. chip production and promising tariffs if elected.



&#8220;<a href="https://www.benzinga.com/news/24/10/41616230/sundar-pichai-admits-doj-proposals-could-have-unintended-consequences-google-mapping-out-plan-b-in-c">Sundar Pichai Admits DOJ Proposals Could Have &#8216;Unintended Consequences&#8217; — Google Mapping Out Plan B In Case Apple Ends Search Deal</a>,&#8221; by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, reports 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>) CEO Sundar Pichai's concerns over DOJ antitrust proposals potentially destabilizing the tech industry, while hinting at contingency plans if Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) ends its search partnership.



&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41661361/super-micro-analyst-suspends-rating-over-governance-accounting-issues">Super Micro Analyst Suspends Rating Over Governance, Accounting Issues</a>,&#8221; by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, details a Rosenblatt analyst&#8217;s decision to suspend his rating for Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) after Ernst &amp; Young resigned as its auditor due to governance and transparency issues.



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



<a href="https://www.benzinga.com/news/24/10/41619340/blackrocks-larry-fink-warns-against-overly-optimistic-fed-rate-cuts-cites-high-embedded-inflation-an">BlackRock&#8217;s Larry Fink Warns Against Overly Optimistic Fed Rate Cuts, Cites High &#8216;Embedded Inflation&#8217; And Predicts Only 1 Reduction This Year</a>



<a href="https://www.benzinga.com/news/24/10/41616573/ipod-co-creator-tony-fadell-dismisses-chatgpt-type-llms-saying-were-trying-to-make-science-fiction-h">iPod Co-Creator Tony Fadell Dismisses ChatGPT Type LLMs Saying &#8216;We&#8217;re Trying To Make Science Fiction Happen&#8217; — Bashes Silicon Valley&#8217;s Entitlement</a>



<a href="https://www.benzinga.com/markets/asia/24/10/41593032/starbucks-chinese-rival-luckin-coffee-plans-us-comeback-with-2-drinks-after-fraud-scandal-that-led-t">Starbucks&#8217; Chinese Rival Luckin Coffee Plans US Comeback With $2 Drinks After Fraud Scandal That Led To Its Nasdaq Delisting: Report</a>



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



Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Tesla, Alphabet, Trump Media, Super Micro — Trader Predicts Dogecoin Rally Above 20 Cents In November

The stock market indexes have enjoyed record highs in recent years with the S&amp;P 500 outperforming other years with President&nbsp;Joe Biden&nbsp;leading the country for the last&nbsp;<a href="https://www.benzinga.com/general/education/24/02/37275812/if-you-invested-in-the-s-p-500-when-joe-biden-became-president-heres-how-much-youd-have-today" target="_blank" rel="noreferrer noopener">nearly four years.</a>



Not all stocks went up with Biden in office and investors may want to take a look back at the worst performing stocks of 2021 to prepare themselves for what could be ahead with the 2024 election nearing.



What Happened:&nbsp;Biden stepped down from&nbsp;<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">the 2024 presidential election&nbsp;</a>earlier this year. While the current president won&#8217;t be re-elected to the White House, past performance with a Democrat as president could highlight which stocks and sectors could be winners if&nbsp;Kamala Harris&nbsp;is victorious in Tuesday&#8217;s election.



The S&amp;P 500, which is tracked by the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>),&nbsp;was up 26.9% in 2021. This marked the best yearly performance since 2018 and the second-best performance for the key stock market index in the last 11 years.



The 12 months following Election Day 2020, which was won by Biden,&nbsp;<a href="https://www.benzinga.com/news/22/01/25137004/biden-vs-trump-how-did-stock-market-returns-compare-after-their-first-year-as-president" target="_blank" rel="noreferrer noopener">saw the S&amp;P 500 gain 37.4%.</a>&nbsp;This was the best one-year market return under a president in many years.



While many stocks were up in 2021, not all of the publicly traded companies had positive returns on the year.



Here were the 10 best-performing S&amp;P 500 stocks in 2021, according to a <a href="https://www.statmuse.com/money/ask/worst-performing-stocks-in-2021-in-the-s-and-p-500" target="_blank" rel="noreferrer noopener">report </a>from StatMuse, and their sectors.



<ol>
<li>Las Vegas Sands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>): -37.1%, consumer discretionary/casinos</li>



<li>Global Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>): -36.8%, financials</li>



<li>Market Axess (NASDAQ::MKTX): -28.1%, financials</li>



<li>Viatris (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NASDAQ">VTRS</a>): -25.8%, health care</li>



<li>Wynn Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>): -24.8%, consumer discretionary/casinos</li>



<li>Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>): -24.4%, media/entertainment</li>



<li>Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>): -23.8%, technology</li>



<li>Fidelity National Information Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>): financials</li>



<li>PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>): -20.7%, financials</li>



<li>Erie Indemnity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIE#NASDAQ">ERIE</a>): -20.3%, insurance</li>
</ol>



The results above show that financials was an underperforming sector in 2021 and also includes several casino stocks on the list. Peak at the top<a href="https://www.benzinga.com/news/21/12/24848823/10-worst-performing-s-p-500-stocks-of-2021"> 10 best performing</a> S&amp;P 500 stocks here. 



Did You Know?



<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent110224" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>



Why It&#8217;s Important: Click through&nbsp;<a href="https://www.benzinga.com/general/politics/24/10/41584466/these-10-stocks-were-the-best-s-p-500-performers-in-2017-when-trump-was-president-will-history-r" target="_blank" rel="noreferrer noopener">to see the 10 best</a>&nbsp;and&nbsp;<a href="https://www.benzinga.com/general/politics/24/10/41606114/10-s-p-500-stocks-were-worst-performers-in-first-year-of-trumps-presidency-will-they-sink-again" target="_blank" rel="noreferrer noopener">10 worst-performing</a>&nbsp;S&amp;P 500 stocks of 2017,&nbsp;Donald Trump&#8216;s first year in the White House.



What's interesting for investors could be the correlation for some stocks based on who was in the White House.



Wynn Resorts was the fourth best performing stock in the S&amp;P 500 in 2017 under Trump, but was an underperformer in 2021 under Biden. PayPal was the eighth best performing stock in the S&amp;P 500 in 2017, but was an underperformer in 2021.



The results above could show that financials and casino stocks could be underperformers if Harris wins the presidency based on the past results and Democratic Party leadership.



With less than one week until the 2024 election, investors are likely positioning their portfolio based on a Trump or&nbsp;Harris&nbsp;victory in some regards. With a close election predicted, investors may want to look to sectors that could benefit under either candidate.



Freedom Capital Markets&nbsp;Chief Global Strategist&nbsp;Jay Woods&nbsp;previously<a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40515453/exclusive-trump-or-harris-12-stocks-2-etfs-could-win-no-matter-whos-president-says-market-strate" target="_blank" rel="noreferrer noopener">&nbsp;shared some sectors&nbsp;</a>and stocks to watch with Benzinga that could benefit regardless of whether Trump or Harris wins the 2024 election.



Woods named defense stocks and cybersecurity stocks as two of the top sectors to watch ahead of the 2024 election.



"I think you've got to watch this sector closely," Woods said of the defense sector.



Woods added that defense stocks could continue to benefit from geopolitical concerns and the world&#8217;s many adverse events.



Read Next:



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<li><a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: State-By-State 2024 Election Betting Odds, Which Candidate Is Favored To Win In Your Community?</a></li>
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Market Summary

ERIE

MKTX

PLTR

PYPL

VTRS

WYNN

These 10 Stocks Were S&P 500's Worst Performers In Biden's First Year: Could Trend Continue If Harris Wins 2024 Election?

Billionaire Warren Buffett is well-known around the world as one of the best investors of all time. The investor, also known as the Oracle of Omaha, is also known for a frugal lifestyle that involves <a href="https://www.benzinga.com/news/24/09/41095962/billionaire-warren-buffett-still-lives-in-an-old-corner-house-he-purchased-for-32k-i-couldnt-imagine">not buying expensive cars and houses.</a>



A cameo on a television show once highlighted Buffett's frugality.



What Happened: Buffett, who is the CEO of 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>), has turned the conglomerate <a href="https://www.benzinga.com/general/education/24/08/40652464/warren-buffett-celebrates-94th-birthday-with-1-trillion-market-cap-milestone-a-look-back-at-hig">into a $1 trillion company</a> thanks to investing in and buying companies that fit into the billionaire's buying principles, which can include hunting for value.



The billionaire has lived in the same house in Nebraska since 1958 in one of the biggest examples of the frugal lifestyle of Buffett. Other examples include not buying new vehicles and eating McDonald's food.



In 2011, Buffett was <a href="https://www.nbc.com/nbc-insider/warren-buffets-appearance-on-the-office-explained">featured </a>in a cameo role on the hit television show "The Office." The episode titled "Search Committee" aired on May 19, 2011.



In the episode, Buffett was one of the people who were applying for the role of regional manager at Dunder Mifflin.



"Can you do any better on salary," Buffett's character <a href="https://www.youtube.com/watch?v=vZBwa-THGwM">says </a>in the clip.



"Unfortunately, that range is set at corporate," Jim, who is played by John Krasinski, says.



"What about mileage when I use my car, I mean gas ain't cheap you know," Buffett asks.



Jim tells Buffett that 25 cents per mile is generous, which prompts the negotiating skills of the billionaire investor and pokes playful fun at his frugality.



"How about 27? And when I make long distance calls, will it be monitored or is it on the honor system?" Buffett asks.



The episode also saw actors Jim Carrey, Ricky Gervais, Will Arnett and Ray Romano featured as people applying for the same job.



Buffett's character did not get the job.



You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/real-estate/reit/24/10/41549488/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>



Why the Cameo?: Buffett filmed a "The Office" spoof video that aired at his annual Berkshire Hathaway shareholders meeting previously.



The five-minute spoof video played at the annual meeting in 2011, but has not been released publicly outside of the meeting. The opening videos have become a tradition for the annual shareholders meeting and often featured Buffett and the late Charlie Munger along with celebrity cameos.



According to one person who <a href="https://theoffice.fandom.com/wiki/Warren_Buffett">saw </a>the video, the spoof featured Steve Carrell as Michael Scott saying Buffett is "at least 90 years old and runs a company called Berkshire Hathaway that produces all of Anne Hathaway's movies."



Buffett tells Scott that Berkshire Hathaway is "a collection of odds and ends. Mostly odds."



When Buffett is introduced by his nickname of the "Oracle of Omaha," Dwight Schrute, played by Rainn Wilson, says, "Yeah, I'm Dwight Schrute, the Droid of Scranton."



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Entertainment

Warren Buffett's Frugal Lifestyle Was Once Highlighted In 'The Office' Cameo: 'What About Mileage When I Use My Car, I Mean Gas Ain't Cheap You Know'

OpenAI CEO Sam Altman discussed the future of open source in AI development during an &#8220;Ask Me Anything&#8221; session on social media platform Reddit, hinting at the possibility of ChatGPT-parent open-sourcing more of its work.



What Happened:&nbsp;Kylie Robison&nbsp;from The Verge took to X, formerly Twitter, and shared the highlights of the AMA session in which Altman, along with other OpenAI executives participated.



During the session, Altman acknowledged the significant role of open source in the AI ecosystem and expressed his admiration for successful open-source models.



See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41678522/jim-cramer-warns-apple-stock-should-have-never-been-up-that-much-after-q3-earnings-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Warns Apple Stock Should Have &#8216;Never Been Up That Much&#8217; After Q3 Earnings Even As This Analyst Defends iPhone 16 Launch</a>



He also underscored the importance of powerful and user-friendly APIs and services, suggesting that OpenAI&#8217;s strengths align well with these aspects.



&#8220;We are pretty proud of how much value people get out of our service,&#8221; he stated, adding, &#8220;I would like us to open source more stuff in the future.&#8221;



<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">Will Sam ever put the &quot;open&quot; back in OpenAI? <a href="https://t.co/Mc1xHMm51o">pic.twitter.com/Mc1xHMm51o</a>&mdash; Kylie Robison (@kyliebytes) <a href="https://twitter.com/kyliebytes/status/1852082953096171699?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



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.



Why It Matters: OpenAI&#8217;s stance on open source has been a topic of debate in the tech industry. Tesla and SpaceX CEO Elon Musk, who co-founded OpenAI in 2015 and left the company in 2018, has frequently criticized ChatGPT-parent for its closed-source models.



Earlier this year, <a href="https://www.benzinga.com/news/24/03/37582116/elon-musk-says-xai-will-open-source-grok-throws-shade-at-openai-by-calling-it-a-lie">Musk called OpenAI a &#8220;lie&#8221; while announcing</a> that his company xAI would open source the code of its AI chatbot Grok.



Musk&#8217;s criticism was echoed by Meta Platforms Inc. CEO Mark Zuckerberg, who <a href="https://www.benzinga.com/news/24/07/39925842/elon-musk-agrees-with-arch-rival-mark-zuckerberg-after-meta-ceo-slams-closed-providers-like-openai-f">slammed closed model providers</a> for lobbying against open source in July 2024.



Musk has also reignited a <a href="https://www.benzinga.com/news/legal/24/08/40168619/elon-musks-new-lawsuit-against-openai-accusations-of-betrayal-and-deception">legal battle against OpenAI</a>, accusing the company and its co-founders, including Altman, of prioritizing commercial gains over their original mission of benefiting humanity.



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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Disclaimer: 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.



Photo courtesy: Shutterstock

This Is What OpenAI's Sam Altman Had To Say On The Future Of Open Source At ChatGPT-Parent

Perplexity CEO Aravind Srinivas&#8217;s revelation about the ongoing wait for a green card has prompted Tesla and SpaceX CEO Elon Musk to <a href="https://www.benzinga.com/markets/cannabis/24/09/41080016/trump-bashes-harris-border-visit-immigration-policy-worst-crisis-in-history-of-world-its-an-inva">criticize the immigration system</a>.



What Happened: Earlier this week, a user on X, formerly Twitter, highlighted the challenges of immigrating to the U.S., describing it as the &#8220;longest and hardest&#8221; process.



Perplexity CEO Srinivas shared this post, shedding light on his three-year struggle to secure a green card.



&#8220;I have been waiting for my green card for like the last 3 years. Still haven't gotten it. People mostly have no idea when they talk about immigration,&#8221; he wrote on the platform.



See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41663190/openai-rolls-out-chatgpt-search-google-shares-slide?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI Rolls Out ChatGPT Search, Google Shares Slide</a>



Musk responded to Srinivas&#8217;s post, expressing concern over the U.S. immigration system&#8217;s priorities. He questioned why it is easier for criminals to enter the U.S. illegally than for highly skilled individuals to immigrate legally.



&#8220;Why is it easier to get in illegally as a murderer than legally as a Nobel Laureate?&#8221; the tech mogul asked, expressing hope for a resolution in case Republican presidential nominee Donald Trump wins the election.



<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 have an upside down system that makes it hard for highly talented people to come to America legally, but trivial for criminals to come here illegally. Why is easier to get in illegally as a murderer than legally as a Nobel Laureate?<a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> &amp; DOGE will fix this. <a href="https://t.co/RgMGWeyX1X">https://t.co/RgMGWeyX1X</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1851970548714139679?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Musk has previously called for <a href="https://www.benzinga.com/news/24/04/38141313/elon-musk-calls-for-easier-us-immigration-system-for-skilled-workers-very-important-to-make-it-easy">an easier U.S. immigration system</a> for skilled workers, highlighting the importance of simplifying the process for talented individuals to enter the U.S.



He has also criticized the &#8220;bizarrely difficult and agonizingly slow&#8221; <a href="https://www.benzinga.com/news/24/03/37573179/elon-musk-blames-bizarrely-difficult-and-agonizingly-slow-legal-process-to-immigrate-to-us-for-unvet">legal process for immigration</a>, voicing concerns about the influx of unvetted immigrants.



Meanwhile, former President Trump has a more hardline approach toward immigration. He has previously spoken about stricter border security, <a href="https://www.benzinga.com/news/24/10/41301544/trump-steps-up-anti-immigrant-rhetoric-proposes-nationwide-plan-to-target-venezuelan-gang-members">mass deportations</a>, travel bans, and significant reductions in legal immigration, including a focus on ending automatic citizenship for children of undocumented immigrants.



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



Photo courtesy: Wikimedia

Elon Musk Slams Immigration Rules After Perplexity CEO Reveals 3-Year Wait For Green Card: 'We Have An Upside Down System'

Office of the Director of National Intelligence (ODNI,) the Federal Bureau of Investigation (FBI,) and the Cybersecurity and Infrastructure Security Agency (CISA) have traced a video falsely portraying voter fraud in Georgia back to Russian influence actors, days ahead of the <a href="https://www.benzinga.com/topic/2024-election">2024 election</a>.



What Happened: A 20-second video emerged on X, formerly known as Twitter, Thursday afternoon, showing a man claiming to be a Haitian immigrant.



In the clip, he discussed his intention to vote multiple times in two Georgia counties for Vice President and Democratic presidential nominee Kamala Harris.



On Friday, the U.S. intelligence agencies identified this video as a fraudulent creation of Russian influence actors.



See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41678522/jim-cramer-warns-apple-stock-should-have-never-been-up-that-much-after-q3-earnings-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Warns Apple Stock Should Have &#8216;Never Been Up That Much&#8217; After Q3 Earnings Even As This Analyst Defends iPhone 16 Launch</a>



&#8220;This Russian activity is part of Moscow's broader effort to raise unfounded questions about the integrity of the U.S. election and stoke divisions among Americans,&#8221; the joint statement by the agencies read.



Previously, Georgia Secretary of State&nbsp;Brad Raffensperger&nbsp;dismissed the video as &#8220;obviously fake&#8221; and a likely product of Russian trolls &#8220;attempting&nbsp;to sow discord and chaos&nbsp;on the eve of the&nbsp;election,&#8221; <a href="https://apnews.com/article/fbi-russia-georgia-fraud-disinformation-eebea4ab200682ccd3e97fb9f164e6ca">reported</a> the Associated Press. 



Why It Matters: This incident is not an isolated one. It is part of a larger pattern of foreign interference in U.S. elections.



In September, President Joe Biden accused <a href="https://www.benzinga.com/government/24/09/40713107/biden-to-accuse-russia-of-2024-election-interference-expert-says-voting-process-tough-to-tamper-with">Russia of seeking to interfere</a> with the 2024 election. Later that month, Microsoft Corp. vice chair and president, Brad Smith, warned of potential <a href="https://www.benzinga.com/24/09/40931276/this-has-also-become-an-election-of-iran-vs-trump-and-russia-vs-harris-microsoft-president-brad-smit">foreign interference</a> in the upcoming election.



Last month, the&nbsp;<a href="https://www.benzinga.com/news/24/10/41417457/us-offers-10m-reward-for-intel-on-russian-firm-interfering-in-elections">U.S. Department of State offered a $10 million reward</a>&nbsp;for information on any foreign person or entity interfering in the 2024 U.S. presidential election.



Around the same time,&nbsp;Microsoft further reported&nbsp;that Russia, Iran, and China were <a href="https://www.benzinga.com/general/politics/24/10/41496316/microsoft-reports-russia-iran-china-stepping-up-efforts-to-influence-2024-election-voters-candid">stepping up their attempts</a> to influence the outcome of the 2024 presidential election.



Previously, it was also reported that <a href="https://www.benzinga.com/news/24/10/41541512/iranian-hackers-leak-stolen-emails-from-trumps-2024-campaign-ahead-of-nov-5-election-report">Iranian hackers leaked stolen emails</a> from Republican nominee Donald Trump's presidential campaign to a Democratic political operative and independent journalists.



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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.



Photo courtesy: Shutterstock

Politics

FBI Uncovers Russian-Backed Scheme To Sway 2024 Election And 'Stoke Divisions Among Americans' With Fake Voter Fraud Video In Georgia

Japanese automaker Honda Motor&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) 2025 Ridgeline AWD pickup truck is the most American-made truck with 75% of its content sourced from either the U.S. or Canada, according to data shared by U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA.)



What Happened: Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck in comparison, has only 65% of its contents sourced from the two countries.



Tesla&#8217;s 2025 model year Model 3 Long Range vehicle is the most American vehicle in the U.S., with 75% of its content sourced from either the U.S. or Canada.



The Model Y, and Model 3 Performance, meanwhile, have only 70% content sourced from the two countries.



Other EV pickup trucks lag further behind, with both the gas and electric versions of the Ford F-150 having less than 50% of its contents sourced from either the U.S. or Canada. 



Why It Matters: Manufacturing within the U.S. and sourcing components within North America makes EVs eligible for a $7,500 tax credit under the Inflation Reduction Act aimed at promoting domestic clean energy manufacturing.



The tax credit takes the purchase price down for eligible customers, spurring EV adoption. EVs, otherwise, are priced higher than gas vehicles on average. 



All variants of Tesla&#8217;s Model 3 and Model Y are currently eligible for a <a href="https://www.benzinga.com/news/24/07/39743027/tesla-unveils-new-model-3-variant-with-longer-range-eligible-for-7-500-tax-credit">tax credit </a>of $7,500, and the two occupied the two top spots for best-selling EVs in the country in the third quarter, according to <a href="https://www.benzinga.com/news/24/10/41353805/elon-musks-tesla-dominates-us-ev-market-with-3-of-top-5-best-selling-models-in-q3">data from automotive research company</a> Kelley Blue Book. 



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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Photo courtesy: Honda

Honda's Pickup Beats Tesla Cybertruck As Most American Made Truck

Pittsburgh-based autonomous vehicle technology <a href="https://www.benzinga.com/quote/AUR/analyst-ratings">startup</a> Aurora Innovation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) said earlier this week that it is now looking to deploy its autonomous trucks in commercial operations in April 2025, later than expected, as it needs more time to validate the safety of its autonomous driving technology on public roads.



What Happened: &#8220;With additional visibility on the time needed to complete the aforementioned remaining validation, we now expect to launch commercially in April 2025,&#8221; company CEO Chris Urmson said in a letter to shareholders.



&#8220;While this is modestly later than we had intended, this timing remains within the margin of error we have anticipated and conveyed throughout 2024.&#8221;



The delay will have a negligible financial impact, Urmson added.



The company will deploy up to 10 driverless trucks in commercial operations during launch. The company will start with one driverless truck and then transition the others to driverless, it said.



By 2025 end, the company intends to have tens of trucks in operations.



Why It Matters: Aurora is currently hauling freight autonomously for pilot customers including FedEx, Schneider, Hirschback, Uber Freight, and others. As of Oct. 27, the company has autonomously delivered over 8,200 loads, driving over 2.2 million commercial miles, it said. However, the rides were all supervised by vehicle operators, the company said.



For the third quarter, the company reported a net loss of $208 million, up from the loss of $190 million recorded in the corresponding period last year. The company has yet to generate revenue. 



Aurora raised $483 million in August, adding to its $1 billion of liquidity as of the end of the second quarter. The liquidity will support the company&#8217;s planned commercial launch and operations well into 2026, the company then said. 



Price Action: Aurora Innovation shares closed 11.8% higher at $5.81 on Friday. The stock is up by about 56% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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<li><a href="https://www.benzinga.com/news/24/11/41699028/tesla-investor-says-ev-giant-will-admit-it-needs-lidar-despite-elon-musk-calling-it-a-crutch">Tesla Investor Says EV Giant Will &#8216;Admit&#8217; It Needs Lidar Despite Elon Musk Calling It A Crutch</a></li>
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Photo courtesy: Aurora Innovation

Autonomous Vehicle Startup Aurora Pushes Back Commecial Launch Of Driverless Trucks To 2025

Elon Musk on Friday said that he would like former congressman from Texas Ron Paul to be on the Department of Government Efficiency, a department he intends to be part of if former President Donald Trump reclaims the White House in the <a href="https://www.benzinga.com/topic/2024-election">upcoming elections</a>.



What Happened: &#8220;Would be great to have Ron Paul as part of the Department of Government Efficiency!,&#8221; Musk wrote on social media platform X.



<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">Would be great to have Ron Paul as part of the Department of Government Efficiency!&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1852472973728338409?ref_src=twsrc%5Etfw">November 1, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Musk&#8217;s comment comes on the heels of Paul expressing his willingness to help Musk cut government spending in an interview with podcaster David Gornoski. However, the former member of the U.S. House of Representatives said that he wouldn&#8217;t want an official position.



Paul has previously run twice for the Republican presidential nomination. 



Why It Matters: Musk officially endorsed Trump in July after a shooting incident at a rally in Pennsylvania. The billionaire also <a href="https://www.benzinga.com/news/24/10/41197236/elon-musk-and-trump-address-thousands-at-site-of-failed-assassination-attempt-take-aim-at-bidens-lea">attended a Trump campaign event in Pennsylvania</a> in October and termed the election a "must-win situation" for Trump.



Trump, meanwhile, has expressed his intent to set up a&nbsp;<a href="https://www.benzinga.com/government/24/09/40739165/trump-plans-to-appoint-elon-musk-to-government-efficiency-commission-if-elected-tesla-ceo-says-hell" target="_blank" rel="noreferrer noopener">government efficiency commission</a>&nbsp;led by Musk if elected President. The commission will be tasked with conducting a complete financial and performance audit of the federal government and recommending reforms, Trump said in September.



Musk has previously said that the commission will also be aimed at removing what he deems as excess regulation in a bid to kickstart key projects such as building high-speed rail in the country.



Musk is actively gathering votes for Trump both online and offline. He founded a super PAC called America PAC to which he has so far given <a href="https://www.benzinga.com/news/24/10/41417390/elon-musks-pro-trump-super-pac-to-give-1m-every-day-to-people-in-swing-states-for-signing-his-petiti">over $100 million</a> in a bid to support Trump&#8217;s presidential campaign, cementing him as a key figure in this year&#8217;s election. 



Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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</ul>



Photos courtesy: Shutterstock and Gage Skidmore on Flickr

Elon Musk Says 'Would Be Great To Have' Former Congressman And Fed Critic Ron Paul In 'Department Of Government Efficiency' If Trump Wins

Kamala Harris&#8216;s campaign and Democratic Party officials &#8220;fully expect&#8221; a premature victory declaration by Donald Trump in the <a href="https://www.benzinga.com/topic/2024-election">upcoming election</a> and are reportedly preparing for a swift response.



What Happened: Democrats are ready&nbsp;to flood social media and&nbsp;television with calls for patience and calm during the vote-counting process, reported Reuters.



This is in response to Trump&#8217;s statement expressing his intention&nbsp;to declare victory on Election&nbsp;Day, despite warnings from election experts that the final result could take several days, especially if vote recounts are demanded in key areas.



See Also:&nbsp;<a href="https://www.benzinga.com/general/politics/24/10/41630878/djt-short-squeeze-could-push-stock-to-60-if-trump-wins-but-analysis-says-loss-could-make-shares-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">DJT Short Squeeze Could Push Stock To $60 If Trump Wins, But Analysis Says Loss Could Make Shares &#8216;Worthless&#8217;</a>



&#8220;We are sadly ready if&nbsp;he does and, if we&nbsp;know that he is actually&nbsp;manipulating the press and attempting&nbsp;to manipulate the consensus of&nbsp;the American people &#8230; we&nbsp;are prepared to respond,&#8221; Harris&nbsp;stated in a Wednesday interview with ABC.



Democratic Party and campaign officials plan to wage their initial fight against any premature Trump victory claim&nbsp;in the court of public&nbsp;opinion, demanding&nbsp;that all votes be counted&nbsp;before victories are declared.



&#8220;As soon as he (Trump) falsely declares victory, we&#8217;re ready to get up on TV and provide the truth and tap a broad network of people who can use their influence to push back,&#8221; a senior Democratic National Committee official stated in an interview.



Why It Matters: In 2020, <a href="https://www.benzinga.com/news/23/08/33545892/trump-knew-he-lost-2020-election-to-biden-says-former-ag-barr-it-would-not-come-out-very-well-for-hi">Trump declared victory</a> early the morning after Election Day, three days before networks officially called the race. Though he ultimately lost to Joe Biden, he has continued to falsely claim the election was stolen through widespread fraud.



Meanwhile, the 2024 U.S. presidential race has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41687739/nate-silver-says-kamala-harris-may-need-backup-plans-if-the-blue-wal-is-split-but-sees-the">described as &#8220;a near coin flip,&#8221;</a> with Trump narrowly leading Harris, said American statistician and writer&nbsp;Nate Silver on Friday.



Previously, it was reported that <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41576378/donald-trumps-election-odds-improve-to-66-after-viral-joe-rogan-podcast-and-controversial-">Trump&#8217;s election odds have improved</a> to 66% after a viral Joe Rogan podcast and a controversial Madison Square Garden rally, as per&nbsp;Polymarket odds.



However, former GOP strategist Stuart Stevens has forecasted a decisive victory for Harris, predicting her to win by an even larger margin than in 2020.



As the U.S. heads into the elections, economists warn that a <a href="https://www.benzinga.com/government/24/11/41695926/a-republican-sweep-might-be-the-most-inflationary-election-outcome-economists-warn">Republican victory could significantly</a> increase inflationary pressures, primarily from higher tariffs, a swelling budget deficit, and restricted immigration policies.



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<li><a href="https://www.benzinga.com/news/24/10/41668254/conservatives-angry-with-julia-roberts-ad-urging-women-to-vote-for-kamala-harris-nauseating?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Conservatives Angry With Julia Roberts Ad Urging Women To Vote For Kamala Harris: &#8216;Nauseating&#8217;</a></li>
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Disclaimer: 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.



Photos courtesy: Shutterstock

Media

Kamala Harris 'Ready' If Trump Decides To 'Falsely' Declare Victory: 'We Are Prepared To Respond'

The U.S. stock market experienced a setback at the end of October, breaking a five-month winning streak as election uncertainties and mixed tech <a href="https://www.benzinga.com/earnings">earnings dampened risk sentiment</a>.



A key measure of market turbulence, the CBOE Volatility Index, or VIX, surged by 34% last month, marking the third-largest increase for an October <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41665265/vix-index-notches-third-strongest-october-spike-in-an-election-year-s-p-500-snaps-5">in an election year.</a>



Tech giants' earnings were underwhelming, except for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). None of the other &#8220;Magnificent Seven&#8221; companies posted positive weekly performance. As a result, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) fell nearly 2% for the week. This marks the worst weekly performance in two months.



Among mega-cap companies, the top performers for the week were Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), both rising approximately 9%. Booking also marked the strongest weekly gains since August 2022. 



The main laggards were Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), down 9% and 8%, respectively, for the week. 



On the macroeconomic front, the U.S. economy saw a surprising slowdown in job growth in October, with <a href="https://www.benzinga.com/news/econ-s/24/11/41684710/us-economy-adds-only-12-000-jobs-in-october-sharply-misses-estimates-as-hurricane-strikes-pummel-hir">nonfarm payrolls increasing by just 12,000</a>—nearly a four-year low and well below the expected 113,000.



Factors such as hurricanes and strikes likely contributed to the hiring slowdown, while unemployment held relatively steady, indicating no significant rise in layoffs.



The labor market report has strengthened expectations for Federal Reserve rate cuts. Markets are fully pricing in a 25-basis-point cut at Thursday's meeting and assigning an 85% probability to a similar cut at the Fed&#8217;s final meeting of the year in of December.



<h3 class="wp-block-heading">State Betting Odds</h3>



As the 2024 U.S. presidential election approaches, state-by-state betting odds reveal a tight race between Donald Trump and Kamala Harris, with key battleground states like Pennsylvania, Michigan, and Arizona showing narrow margins, making them pivotal <a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi">in the final outcome.</a>



<h3 class="wp-block-heading">Gold ETF Surge</h3>



The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) saw $1.8 billion in inflows during October, its highest in over two years. Rising investment demand continues pushing gold toward record highs as investors turn to this safe-haven asset at a time of political <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-">upheaval and fiscal uncertainty.</a>



Ford Halts F-150 Lightning Production



Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is pausing F-150 Lightning production from Nov. 18 to Jan. 6, responding to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)'s Cybertruck sales surge. The move aims to recalibrate production with demand and improve profitability for <a href="https://www.benzinga.com/news/24/11/41677673/ford-f-150-lightning-pickup-truck-production-to-be-halted-temporarily-after-teslas-cybertruck-races">the Michigan-based automaker.</a>



Now Read:



<ul>
<li><a href="https://www.benzinga.com/general/24/11/41693751/biden-can-blame-boeing-for-massive-jobs-data-miss">Biden Can Blame Boeing For Massive Jobs Data Miss</a></li>
</ul>



Image: Shutterstock

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Market Volatility Soars Ahead Of Elections, Tech Earnings Mixed, Strikes And Hurricanes Knock Employment Down: This Week In The Markets

Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) cost of making the entire Cybercab will roughly equal 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>) subsidiary Waymo&#8216;s cost for installing lidar sensors on its robotaxis, according to Ark Invest analyst Brett Winton.



What Happened: The cost of manufacturing the Tesla Cybercab should be half the cost of manufacturing the company&#8217;s Model 3 or Model Y given the Cybercab has half the content as the other vehicles, Winton said. So once production reaches scale, the cost of manufacturing a Cybercab should be nearly $18,000, according to the analyst.



The cost of purchasing Waymo&#8217;s lidar sensors together with installation charges will cost roughly the same amount, Winton said. While the cost of the lidars alone would come at $13,500, installation and wiring will cost another $1,500, taking the total cost of the lidar sensors alone to $15,000.



Waymo installs its sensor suite on electric vehicles made by auto manufacturers such as Zeekr, implying a separate cost for purchasing the vehicle.



<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">tophat lidar at $7.5k, on-body lidars at $2k &#x2A; 3. Call it $1.5k to install the parts and wiring: $15k cybercab at ~half the content of the average model 3/y should be ~half as expensive to manufacture, scaled. Suggests $18k.&mdash; Brett Winton (@wintonARK) <a href="https://twitter.com/wintonARK/status/1852047930582274310?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Winton is not alone in expecting the cost of making the Cybercab to be lower than Waymo&#8217;s cost for deploying its robotaxis. 



"ARK estimates that Waymo&#8217;s vehicles cost more than $100,000 to produce, its sensor set alone ~$40,000+, though it is working to reduce costs. Tesla&#8217;s Model 3 costs $40,000, sensors included. While it needs to build backend support for remote vehicle assistance and customer support, Tesla should be able to leverage its existing factory, charging, and service infrastructure to scale efficiently," Ark Invest&#8217;s Tasha Keeney also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41247281/teslas-robotaxi-platform-could-account-for-90-of-ev-giants-enterprise-value-over-th">said in a blog post</a> last month.



Why It Matters: Tesla unveiled its Cybercab with no pedals or steering wheel last month. The vehicle, CEO Elon Musk then said, will enter production &#8220;before 2027&#8221; and be priced below $30,000.



During Tesla&#8217;s third-quarter earnings call last month, Musk said that the company expects to start a ride-hail service in Texas and California starting next year, <a href="https://www.benzinga.com/news/24/10/41484511/palo-alto-may-open-streets-to-tesla-robotaxis-but-california-regulators-will-decide-fate" target="_blank" rel="noreferrer noopener">subject to regulatory approval</a>, with self-driving Model 3 and Model Y vehicles.



However, the vehicles might not all operate as driverless robotaxis initially but with a driver as some states demand it until the company touches certain milestones in terms of miles and hours driven, the company then said.



However, Musk also expressed confidence about the&nbsp;<a href="https://www.benzinga.com/top-stories/24/10/41279865/elon-musk-may-unveil-teslas-robotaxi-but-consumers-respond-with-ehhh-new-study-reveals-skepticism-ne" target="_blank" rel="noreferrer noopener">company operating driverless paid rides sometime next year</a>, placing it as a firm competitor to Alphabet Inc&#8217;s Waymo. 



Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>



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<li><a href="https://www.benzinga.com/news/24/10/41617327/lucid-to-start-taking-orders-for-gravity-suv-next-week-but-only-for-premium-variant-priced-at-about" target="_blank" rel="noreferrer noopener">Lucid To Start Taking Orders for Gravity SUV Next Week, But Only For Premium Variant Priced At About $95,000</a></li>
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Photos courtesy: Tesla and Shutterstock

Tesla Can Make Cybercab For The Same Money It Takes Waymo To Install Lidar Sensors On Its Robotaxi, Says Ark Analyst

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