Mateusz Slodkowski | Lightrocket | Getty ImagesReddit is suing artificial intelligence startup Anthropic for what it’s calling a breach of contract and for engaging in “unlawful and unfair business acts” by using the social media company’s platform and data without authority.The lawsuit, filed on Wednesday, claims that Anthropic has been training its models on the personal data of Reddit users without obtaining their consent. Reddit alleges that it has been harmed by the unauthorized commercial use of its content. “For its part, despite what its marketing material says, Anthropic does not care about Reddit’s rules or users: it believes it…
Author: usaeverydaylife
President Donald Trump’s “big, beautiful bill” would add $2.4 trillion to the national debt over the next decade, the nonpartisan Congressional Budget Office estimated Wednesday.The bill passed by House Republicans last month would decrease federal revenues by $3.7 trillion and lower spending by $1.3 trillion, according to the CBO’s latest analysis.The budget package is expected to be tweaked further in the Senate, where it already faces headwinds from deficit hawks who have criticized the bill over concerns that it would lead to exploding deficits.Sen. Ron Johnson, R-Wis., said earlier Wednesday on CNBC’s “Squawk Box” that he would not vote for…
Check out the companies making headlines in midday trading: CrowdStrike — The cybersecurity stock was down nearly 7% after the company’s revenue forecast for the current quarter undershot analysts’ estimates. CrowdStrike said it expects revenue in the range between $1.14 billion and $1.15 billion, while analysts polled by LSEG were looking for $1.16 billion. Dollar Tree — The discount retailer slid 7%. Dollar Tree said adjusted earnings per share could see a pullback of as much as 50% in the current quarter on a year-over-year basis, while analysts polled by FactSet expected a 1.8% decline. The firm cited pressure from…
Here are the biggest calls on Wall Street on Wednesday: Goldman Sachs upgrades XP to buy from neutral Goldman Sachs says it sees “operating leverage” for the Brazilian investment company. “We are upgrading XP to Buy from Neutral with a $23 price target, as we see the company well positioned to benefit from operating leverage, with possible upside risks if revenue growth accelerates further.” UBS reiterates Netflix as buy UBS raised its price target on the stock, citing strong viewership trends. “We believe secular trends and competitive dynamics remain supportive of Netflix’s ability to drive stronger monetization and operating leverage.…
Sam Altman, co-founder and CEO of OpenAI, speaks during the New York Times annual DealBook Summit at Jazz at Lincoln Center in New York City on Dec. 4, 2024.Michael M. Santiago | Getty ImagesOpenAI on Wednesday announced that it now has 3 million paying business users, up from the 2 million it reported in February. The San Francisco-based startup rocketed into the mainstream in late 2022 with its consumer-facing artificial intelligence chatbot ChatGPT, and began launching workplace-specific versions of the product the following year.The 3 million users include ChatGPT Enterprise, ChatGPT Team and ChatGPT Edu customers, OpenAI said. “There’s this really tight…
Russian President Vladimir Putin and U.S. President Donald Trump.Mikhail Metzel | Evelyn Hockstein | Via ReutersPresident Donald Trump on Wednesday said he spoke with Russian leader Vladimir Putin for well over an hour about Ukraine’s latest attack on Russian airplanes and nuclear talks with Iran.Putin in that call vowed retaliation against Ukraine for the stunning surprise attack, which Kyiv said resulted in strikes on more than 40 Russian bombers, Trump said.”It was a good conversation, but not a conversation that will lead to immediate Peace,” Trump wrote on Truth Social.”President Putin did say, and very strongly, that he will have…
A power substation near the LC1 CloudHQ data center in Ashburn, Virginia, on March 27, 2024.Nathan Howard | Bloomberg | Getty ImagesAmazon plans to spend $10 billion on new data centers in North Carolina to expand its artificial intelligence infrastructure, the company said Wednesday.Amazon has earmarked up to $100 billion this year on capital expenditures, with the lion’s share going to AI-related projects. Like other major tech companies, Amazon is racing to build out its capacity to power AI tasks in order to keep pace with rivals including Microsoft, Google and OpenAI.Amazon CEO Andy Jassy has called generative AI a…
Chinese tea chain Chagee is in the early days of a long runway for strong growth, according to Citi Research. Analyst Xiaopo Wei initiated the stock with a buy rating and $43.70 price target, suggesting shares stand to gain nearly 44% from their latest close. Shares of Chagee are down more than 10% since the company made its public market debut on April 17. The stock has rebounded roughly 14% this week, however, after Chagee on Friday reported a significant beat for its first quarter. Chagee is a “fast-growing premium tea play,” Wei said in a Wednesday note to clients, pointing…
A few months of market swings have taken a toll on retirement savers.The average 401(k) balance fell 3% in the first quarter of 2025 to $127,100, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans.The average individual retirement account balance also sank 4% from the previous quarter to $121,983, the financial services firm found. Still, both 401(k) and IRA balances were up year over year.The majority of retirement savers continue to contribute, Fidelity said. The average 401(k) contribution rate, including employer and employee contributions, increased to 14.3%, just shy of Fidelity’s suggested savings rate…
LinkedIn CEO Ryan Roslansky speaks at the Concordia Annual Summit in New York on Sept. 20, 2021. in New York City.Riccardo Savi | Concordia Summit | Getty ImagesMicrosoft is giving LinkedIn CEO Ryan Roslansky a bigger job, expanding his role to include oversight of Office productivity software, CNBC has learned.Roslansky, who took over LinkedIn five years ago, is becoming executive vice president of Office, reporting to Rajesh Jha, Microsoft’s executive vice president for experiences and devices, according to a person familiar with the matter. Microsoft CEO Satya Nadella informed employees about the change in an email on Wednesday, said the…
