UAE President Sheikh Mohamed bin Zayed Al Nahyan (R) welcomes his US counterpart Donald Trump upon arrival at the presidential terminal in Abu Dhabi on May 15, 2025. Anadolu | Anadolu | Getty ImagesThe U.S. and United Arab Emirates are partnering on a massive artificial intelligence campus touted as the largest such facility outside the U.S., the White House said Thursday.The Abu Dhabi data center will be built by the Emirate firm G42, which will partner with several U.S. companies on the facility, according to the release from the Department of Commerce. It will have a 5-gigawatt capacity and cover…
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The Coinbase logo is displayed on a mobile phone screen with stock market percentages in the background.Idrees Abbas | Sopa Images | Lightrocket | Getty ImagesCoinbase on Thursday confirmed the U.S. Securities and Exchange Commission has been investigating whether the crypto exchange has misstated its user numbers.The stock was last lower by 6%.The inquiry focuses on the number of “verified users” reported by the company, which it has claimed is more than 100 million in various securities filings and marketing materials, according to The New York Times, which first reported the story that sent the stock lower. The investigation began…
Dan Sundheim’s D1 Capital dumped its shares of some heavyweight tech and media giants during the first quarter, but picked up new positions in a few food and financial stocks, according to a newly released regulatory filing. The hedge fund—which was worth $6.5 billion at the end of the first quarter—sold more than $147 million worth of Meta Platforms shares and nearly $146 million worth of Spotify shares during the period, entirely dissolving its stake in both companies. D1 also sold all of its shares in MongoDB , Delta Air Lines , and entertainment companies Warner Music Group and Live…
US Senator Susan Collins, Republican from Maine, questions Secretary of Health and Human Services Robert F. Kennedy Jr., during a Senate Committee on Health, Education, Labor, and Pensions hearing on the President’s proposed budget request for fiscal year 2026 for the Department of Health and Human Services, on Capitol Hill in Washington, DC, May 14, 2025. Jim Watson | Afp | Getty ImagesSen. Susan Collins of Maine on Thursday captured the growing sense of frustration among Republicans in Congress over President Donald Trump’s plan to accept a $400 million jet from the royal family of Qatar to be converted into…
FBI Director Kash Patel testifies during a House Commerce, Justice, Science, and Related Agencies Subcommittee hearing on the 2026 agency’s budget request on Capitol Hill in Washington, DC, on May 7, 2025. Oliver Contreras | AFP | Getty ImagesThe FBI on Thursday warned that “malicious actors” are impersonating senior U.S. officials in AI-generated voice memos that target current and former government officials, as well as their contacts.”If you receive a message claiming to be from a senior US official, do not assume it is authentic,” the FBI said in an announcement.Since last month, the scammers have “sent text messages and…
Michael Intrator, founder and CEO of CoreWeave Inc., Nvidia-backed cloud services provider, attends his company’s IPO at the Nasdaq Market in New York City on March 28, 2025.Brendan McDermid | ReutersCoreWeave shares jumped more than 5% Thursday as the renter of artificial intelligence servers posted strong revenues and CEO Michael Intrator reinforced the company’s plans to spend on growth.In its first earnings report since its market debut in March, CoreWeave said it expects capex of $20 billion to $23 billion for the year, topping a $4.61 billion estimate for the year from analysts surveyed by LSEG. The range included the…
Investors hoping that reduced trade tensions could push stocks to new heights will most likely be left disappointed, according to JPMorgan. Uncertainty from President Donald Trump’s tariff policies decimated the stock market’s performance to start the year. The S & P 500 tumbled 18.9% between its all-time high in February and its closing low in early April. But all three major averages have bounced back from those losses since April 2, when the president announced his reciprocal tariffs on the U.S.’s largest trading partners, followed by a 90-day suspension the following week. The S & P 500 has climbed 18.5%…
U.S. Secretary of the Treasury Scott Bessent shakes hands with Chinese Vice Premier He Lifeng during the bilateral meeting between the U.S. and China, in Geneva, Switzerland, on May 11, 2025.Keystone/eda/martial Trezzini | Via ReutersChina has temporarily paused export restrictions targeting 28 American companies on the heels of the trade truce Beijing reached with the Trump administration over the weekend in Switzerland.But China is continuing to block exports from that country of seven rare earth metals to the United States, whose defense, energy and automotive industries rely on those metals.According to the Geneva trade statement, China has agreed to “adopt all necessary…
A Youtube podcast microphone is seen at the Variety Podcasting Brunch Presented By YouTube at Austin Proper Hotel in Austin, Texas, on March 8, 2025.Mat Hayward | Variety | Getty ImagesYouTube is solidifying its place in podcasts.The company on Thursday announced the launch of a weekly top podcast shows chart, rivaling those from Spotify and Apple.Podcasts such as “The Joe Rogan Experience,” “Kill Tony” and “Rotten Mango” currently top the YouTube chart.Alphabet-owned YouTube said podcasts earn more than one billion monthly active views. The platform is the most preferred service for listening to podcasts, beating out Spotify and Apple, Edison…
Check out the companies making headlines in midday trading. Walmart — Shares of the big-box retailer dropped 1% after Walmart fell slightly short of first-quarter sales expectations and management warned that consumers could see higher prices caused by tariffs. Walmart reported revenue of $165.61 billion, while the consensus forecast was $165.84 billion, per LSEG. The retailer earned 61 cents per share, after adjustments, beating an LSEG estimate of 58 per share. Dick’s Sporting Goods — The sporting goods retailer tumbled 14% on the announcement that it would buy rival Foot Locker for $2.4 billion , in a deal expected to close in the…
