Scale AI CFO Dennis Cinelli.Courtesy of Scale AI.After Meta shocked the tech world in June by announcing plans to invest $14.3 billion in Scale AI, primarily as a way to hire the startup’s founder, Alexandr Wang, and a handful of his employees, the future of Scale was immediately thrown in doubt.OpenAI soon disclosed that it had been winding down its work with Scale, which prepares the data that artificial intelligence labs and big tech companies use to train their models. Companies including Google and Elon Musk’s xAI also paused work with Scale after the deal, according to multiple media reports. But…
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These are some of the stocks posting the largest moves midday. Source link
Bank of America on Tuesday downgraded gambling stocks DraftKings and FanDuel owner Flutter Entertainment , warning that online sports betting faces a rocky road ahead as competition from prediction markets grows and regulatory uncertainty mounts. BofA cut its rating for DraftKings and Flutter from buy to hold and slashed its price targets for the stocks by 23% and 27%, respectively. The bank now has a price of $250 per share for Flutter, suggesting 8% upside from Monday’s close. It sees DraftKings hitting $35 per share, indicating about a 14% gain from current levels. Polymarket is poised to return to the…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. Stocks declined Tuesday after Palantir’s quarterly results and subsequent stock drop stoked valuation concerns about AI-related names. The S & P 500 was down nearly 1%, while the Nasdaq lost nearly 1.5%. The market move lower is nothing to be concerned about, Jim Cramer said. “So, what’s really happened? The answer is nothing.” Instead, he added, “There is just a concentrated group of people who believe that right now the market is overvalued.” 2.…
A flag hangs on campus at Harvard University in Cambridge, Massachusetts, U.S., September 4, 2025. Shannon Stapleton | ReutersTwo Massachusetts men have been arrested in connection with a weekend explosion at Harvard Medical School, authorities said Tuesday.The FBI’s Boston office announced the arrests on social media ahead of a 1 p.m. news conference. It didn’t provide further details.The explosion occurred early Saturday on the fourth floor of Harvard Medical School’s Goldenson Building. No one was injured. The building houses labs and offices associated with the school’s neurobiology department.Medical school officials said the explosion caused no structural damage and that all…
The recent wave of white-collar layoffs may have employees and job seekers rattled, but according to New York University Stern School of Business professor Robert Seamans, his current class of MBA students isn’t worried.”I don’t get a huge sense that they’re dreading the job market or that they think there are going to be dramatic changes,” Seamans told a gathering of technology executives at last week’s CNBC Technology Executive Council Summit in New York City. “These students have been in the job market already before coming back to school and they’re used to the ups and downs of being in…
At South Korea’s largest amusement park, crowds of people wait for hours to be a part of the “KPop Demon Hunters” craze.U.S. streaming giant Netflix, the distributor of the Sony Pictures Animation film, has collaborated with the Everland park outside of capital city Seoul to create a themed zone featuring whack-a-mole, dance games and snacks from the movie.It’s the latest iteration of the “KPop Demon Hunters” frenzy as the film takes Netflix by storm — and delivers a boost to the $10 billion K-pop music industry along with it.Netflix said in August that “KPop Demon Hunters” had become the most…
As November kicks off, JPMorgan added Alphabet to its list of favorite stocks. Every month, the bank updates its analyst focus list. This includes top ideas from JPMorgan analysts aligned with the growth, income, value and short investment strategists. The bank’s changes follow a strong October, propped up by robust quarterly earnings results from major tech giants such as Amazon. The S & P 500 added 2.3% and the Nasdaq Composite advanced 4.7%. The Dow Jones Industrial Average climbed 2.5%, notching its sixth positive month for the first time since 2018. Still, an ongoing government shutdown — and fears that…
Treasury Secretary Scott Bessent said Tuesday that there are other options in case of defeat as the Supreme Court is about to hear a landmark case on President Donald Trump’s tariffs.The high court is set Wednesday to hear arguments on whether Trump exceeded his authority under the International Emergency Economic Powers Act to enact sweeping duties on U.S. trading partners.At stake is the leeway presidents have to wield over trade measures as a tool of economic policy. Bessent expressed confidence in a CNBC “Squawk Box” interview that the administration will prevail, but has additional outlets it can use in case…
Republican gubernatorial candidate Winsome Earle-Sears and Democratic gubernatorial candidate, former U.S. Rep. Abigail Spanberger (D-VA).Anna Moneymaker | Chip Somodevilla | Getty ImagesVirginia voters on Tuesday are poised to pick their first female governor and weigh in on a scandal-rocked state attorney general’s race.The race for governor will make history, regardless of whether the winner is Democratic former U.S. Rep. Abigail Spanberger or Winsome Earle-Sears, the state’s Republican lieutenant governor.Virginia is one of 18 states that have never had a female governor. The winner will succeed Gov. Glenn Youngkin, a Republican who is term-limited from running again.Polls of the governor’s race,…
