The Grok logo is being displayed on a smartphone with Xai visible in the background in this photo illustration on April 1, 2024. Jonathan Raa | Nurphoto | Getty ImagesElon Musk’s xAI attained an official permit to power its supercomputer facility in Memphis, Tennessee, using natural gas-burning turbines, according to public records shared by the company on Wednesday.The Shelby County Health Department issued the permits on July 2, despite months of protests and public hearings where local residents decried the turbines’ impact on local air quality. Musk’s artificial intelligence startup, which now owns his social media site X, will face formal emissions…
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President Donald Trump’s landmark spending bill is ready to be signed into law after Republicans in both chambers of Congress eked out the necessary votes ahead of the GOP’s self-imposed July 4 deadline to send the legislation to the president’s desk.At its core, the bill permanently extends the tax cuts introduced in the 2017 Tax Cuts and Jobs Act while introducing a raft of new breaks. Some, such as an expanded child tax credit and an above-the-line deduction for charitable contributions, are permanent changes to the tax code. Others are slated to expire in 2028, at the end of Trump’s…
Long-time market bull Tom Lee is considering two new themes for his Fundstrat Granny Shots US Large Cap ETF. On CNBC’s “ETF Edge” this week, he revealed sovereign security could soon make the cut. “It’s now evident to me that the mechanisms are in motion for companies to really fix their supply chains within a sovereign border, and that’s a change,” the firm’s chief investment officer said. “That’s not going to just be one or two years.”He’s also looking at Gen Z. Lee compares the generation to millennials, who he called “the engine” of the market when Fundstrat first began researching themes…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailIn today’s episode, XRP climbs after Ripple CEO Brad Garlinghouse confirmed that the firm is applying for a banking license in the United States. Plus, CNBC Crypto World provides an inside look at the Ethereum Community Conference taking place in Cannes. And, Michael Anderson, co-founder of Framework Ventures, breaks down how the venture capital industry is thinking about the stablecoin space. Source link
President Donald Trump’s One Big Beautiful Bill Act ends long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production.The House of Representatives passed Trump’s megabill Thursday ahead of a White House-imposed deadline, after the Senate narrowly approved the controversial legislation Tuesday.Trump has made his priorities on energy production clear. The U.S. will rely on oil, gas, coal and nuclear to meet its growing energy needs, the president said last weekend, bashing wind and solar power.”I don’t want windmills destroying our place,” Trump told Fox News in an interview that aired June…
Speaker of the House Mike Johnson, R-La., speaks to reporters as he walks back to his office as the House of Representatives waits to vote on President Trump’s “big beautiful bill” reconciliation package on July 3, 2025.Bill Clark | CQ-Roll Call, Inc. | Getty ImagesA massive package of tax cuts championed by President Trump and awaiting a final vote in the House would be a windfall for the wealthiest U.S. households. But the size of that financial benefit depends largely on where high-income taxpayers live, according to a new analysis by the Institute on Taxation and Economic Policy.The legislation would…
Two top chartists were weighing in on Apple this week. Carter Worth of Worth Charting and Katie Stockton of Fairlead Strategies believe Apple is in for a significant run. “We see a short-term trade with upside,” said Worth on CNBC’s “Fast Money” this week. He thinks the stock is likely to go up about 8% from where the stock is currently trading. Worth was right on the money back in the summer of 2022 when he said “sell it all” in a controversial call on Apple. The stock fell shortly after. AAPL .GSPT mountain 2022-08-01 Apple has been greatly outperformed by…
Short and sweet: That was this week’s stock market in a nutshell. The second half of the year kicked off in record style, with both the S & P 500 and the Nasdaq closing at multiple all-time highs, including in Thursday’s holiday-shortened session. The U.S. stock market is closed on Friday for the Fourth of July. Extending its stunning comeback from its April sell-off, Club stock Nvidia broke all kinds of records this week as its market value topped $3.9 trillion on Thursday. It ended the day up 1.3% at $159.34 a share, good for a $3.89 trillion market cap.…
Nvidia CEO Jensen Huang in Taipei, Taiwan, on June 2, 2024.Ann Wang | ReutersNvidia’s Blackwell Ultra chips, the company’s next-generation graphics processor for artificial intelligence, have been commercially deployed at CoreWeave, the companies announced on Thursday.CoreWeave has received shipments of Dell-built shipments based around Nvidia’s GB300 NVL72 AI systems, Dell said on Thursday. It’s the first cloud provider to install systems based around Blackwell Ultra.The Blackwell Ultra is Nvidia’s latest chip, expected to ship in volume during the rest of the year. The systems that CoreWeave is installing are liquid-cooled and include 72 Blackwell Ultra GPUs and 36 Nvidia Grace…
Uncle Sam can take a solid bite out of retirees’ savings once they begin drawing down their hard-earned dollars, and UBS has a way to mitigate the tax bite. Investors may be familiar with portfolio diversification, in which they ensure they have sufficient exposure to an array of asset classes to avoid concentration risk. But there’s also the matter of tax diversification: That is, ensuring that you’re putting money away in accounts with different tax treatments so as to mitigate taxes when you start drawing down assets. These accounts can be taxable, tax-deferred (like your 401(k) plan or your traditional…
