Citi cuts tech stock weighting: ‘Difficult to see how everyone in AI/Tech path wins’
The tech trade is becoming rocky, and Citi thinks it’s time for investors to trim positions in the sector.
Citi cuts tech stock weighting: ‘Difficult to see how everyone in AI/Tech path wins’
The tech trade is becoming rocky, and Citi thinks it’s time for investors to trim positions in the sector.
Minneapolis Fed President Neel Kashkari says he expects a rate hike this year
Kashkari said he sees a hike likely this year as the economy continues to feel the hit from spiking inflation.
ON Semiconductor records worst day since 2020 as CEO defends Synaptics deal
The pivot into physical AI grows On Semi’s addressable market by an additional $30 billion, the company said.
OpenAI hasn’t held pre-IPO investor meetings or set timeline yet, sources say
OpenAI said it confidentially filed its prospectus with the SEC earlier this month, but noted it “may be a while” before it goes public.
Billionaire investor Jeremy Grantham says bitcoin will ‘dwindle away with a whimper’
Jeremy Grantham renewed his long-running criticism of bitcoin, predicting it will gradually fade into irrelevance over decades.
Leon Black refuses to answer questions on NDAs at Jeffrey Epstein hearing, Rep. Comer says
“I knew Jekyll. I didn’t know Hyde,” Leon Black says about Jeffrey Epstein in his prepared statement to the House Oversight and Government Reform Committee.
OpenAI and Anthropic face new AI reality as users shift from ‘tokenmaxxing’ to efficiency
Companies are tightening their AI budgets to focus on getting a return on their investment, and that could dampen growth rates at OpenAI and Anthropic.
Polymarket annualized revenue surpasses $1 billion six weeks after its U.S. exchange launch
World Cup trading and the end of its U.S. waitlist are driving rapid growth for Polymarket’s prediction market platform.
Volkswagen plans to cut 15% of its workforce and close four German plants, report says
Auto giant Volkswagen is reportedly planning to cut 100,000 jobs and end production at four German plants over the coming years.
