OpenAI Is Losing Executives Left and Right as Its Monster IPO Looms
OpenAI is facing growing internal turmoil as it prepares for a major IPO push led by CEO Sam Altman. A series of executive departures and changes to its safety team have unsettled employees at the company behind ChatGPT. The shake-up raises questions about OpenAI’s direction as it moves toward what could be one of the most high-profile public listings in recent memory.
Georgia Investment CEO Gets Maximum 20-Year Sentence for $380 Million Ponzi Scheme
Todd Burkhalter, a Georgia financial advising CEO, was sentenced to 20 years in prison for orchestrating a $380 million Ponzi scheme. Burkhalter used the fraudulently obtained funds to support an extravagant lifestyle that included yachts, private jets, and luxury shopping, making it one of the largest fraud cases of its kind in the region.
S&P 500 Caps a Record Week Even as Broadcom Drags Chip Stocks Lower
A Record High, Then a Reality Check Wall Street capped an eventful week on a cautious note Friday, August 14, as stocks slipped modestly from a historic peak. The S&P 500 fell 0.17% to 7,786, the Nasdaq Composite lost 0.28% to 26,729, and the Dow…
Federal Regulators Open Probe Into Betting Markets That Wager on What People Say
A White House Scandal Sparks a Broader Reckoning President Trump’s longtime teleprompter operator, Gabriel Perez, is under investigation by federal regulators over potential insider trading on the prediction market platform Kalshi. The allegation is striking in its specificity: Perez is suspected of profiting off his…
Cerebras Stock Drops 17% After Earnings Despite Doubling Its Revenue
Strong Numbers, Punished Anyway Despite delivering second-quarter financial results that exceeded Wall Street’s projections, Cerebras Systems watched its stock price tumble in extended trading — declining approximately 17% to roughly $219 after hours, erasing gains from a 12% rally during the regular trading session. It’s…
South Korea’s KOSPI Roars Back Into Bull Market as AI Chip Frenzy Returns
A Stunning Reversal After July’s Historic Crash South Korean stocks are back in a technical bull market, just two weeks after a brutal selloff. On Thursday, August 13, South Korea’s benchmark KOSPI closed 4% higher, leaving it 22% above its July 30 closing low and…
CoreWeave Revenue Doubles as AI Demand Fuels a $104 Billion Backlog
A Surprise Beat Sends Shares Soaring CoreWeave stock rocketed as much as 20% higher in premarket trading after the AI cloud company reported revenue that doubled year over year. The results, released on August 11, quickly reshaped investor sentiment around a stock that had been…
AI Earnings Explosion and Tame Inflation Give Markets a Double Boost
Three AI Infrastructure Giants Stun Wall Street The AI spending story just got a major vote of confidence. On Wednesday, August 12, three AI infrastructure companies — CoreWeave, Super Micro Computer, and Nebius Group — delivered blockbuster earnings that sent shockwaves through the market and…
Nvidia and Wall Street Titans Forge $500 Billion Alliance to Power the AI Era
A Half-Trillion-Dollar Bet on the Future of AI Nvidia is attempting to turn its artificial intelligence chips into Wall Street’s newest asset class, partnering with six large asset managers on a $500 billion financing push designed to treat compute infrastructure much like commercial real estate,…
Powerball Jackpot Surges to $975 Million as America Waits for a Billionaire
A Jackpot Three Months in the Making The Powerball jackpot has risen to an estimated $975 million after nobody took the grand prize in Monday night’s drawing, which soared to the eighth-largest prize in history. That means America’s most-watched lottery is now knocking on the…
