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Blackstone Secured

Blackstone Secured Lending Fund is a non-diversified, closed-end management investment company. The investment objectives of the company are to generate current income and, to a lesser extent, long-term capital appreciation. The company seeks to achieve its investment objectives by investing in originated loans and other securities, including syndicated loans of private U.S. companies, typically in the form of first lien senior secured and unitranche loans, unsecured and subordinated loans, and other securities.

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Blackstone Secured Lending Fund

Hedge fund manager Spencer Hakimian calls out the &#8220;stupidity&#8221; of the current trade and tariff war, while pushing back against the notion that the United States is losing out in global trade.
What Happened: Hakimian, the founder of New York-based hedge fund Tolou Capital Management, posted on X Sunday night, pointing out that S&amp;P 500 companies generate nearly $1.17 trillion in annual revenue from China. 
This is six times more than the value of goods and services these companies export from the U.S. to China, at $200 billion, according to data from FactSet, Macrobond, the Census Bureau, and Apollo&#8217;s Chief Economist.
&#8220;Nobody dominates and benefits more from global trade than the United States,&#8221; Hakiaman says, while highlighting the popularity of American brands and products in China, such as Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone, coffee at Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), and burgers by McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), among several others.
See More: <a href="https://www.benzinga.com/markets/25/04/45030778/trump-running-american-economy-like-a-mafia-don-economist-craig-shapiro-draws-parallels-with-russias-president">Trump Running American Economy Like A &#8216;Mafia Don&#8217;: Economist Craig Shapiro Draws Parallels With Russia&#8217;s President</a>
&#8220;Tearing the current system down voluntarily would be the biggest unforced error in economic history,&#8221; he says, adding that there is &#8220;no precedent for this level of stupidity.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Keep in mind that S&amp;P 500 earn 6x more in China than they export from the U.S. to China. Apple selling iPhones to Chinese consumers. Starbucks selling coffee. McDonald's selling burgers. Etc. Nobody dominates and benefits more from global trade than the United States does.… <a href="https://t.co/JpCBvLmSwQ">pic.twitter.com/JpCBvLmSwQ</a>
&mdash; Spencer Hakimian (@SpencerHakimian) <a href="https://twitter.com/SpencerHakimian/status/1916644436894769332?ref_src=twsrc%5Etfw">April 28, 2025</a></blockquote>
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Why It Matters: Several prominent voices have echoed similar concerns in recent weeks regarding the tariffs and the United States&#8217; widening trade deficit. 
Last week, investor Mark Cuban said that &#8220;having a trade deficit with China isn't such a bad thing for the U.S.,&#8221; citing the <a href="https://benzinga.com/markets/25/04/44897891/mark-cuban-says-its-a-game-of-chicken-with-china-as-he-questions-trumps-strategy-behind-tariffs-you-cant-be-dogmatic-in-business-or-government">surplus in services</a> that the U.S. has with China, which now stands to get hit, along with agricultural exports.
Similarly, former Treasury Secretary Larry Summers <a href="https://benzinga.com/news/25/04/44776458/obama-era-treasury-secretary-larry-summers-rejects-china-cheating-at-trade-narrative-we-get-ev-batte">rejected the narrative</a> that China was cheating on trade, saying that &#8220;if China wants to sell us things at really low prices, it&#8217;s kind of a good deal for us,&#8221; when addressing questions regarding predatory pricing and dumping at the University of Austin two weeks ago.
However, others, such as Ark Invest CEO Cathie Wood, have come out in <a href="https://www.benzinga.com/markets/25/04/44881540/cathie-wood-says-shes-trusting-trump-will-get-call-on-tariffs-right-investors-shorting-the-equity-market-now-will-be-caught-flat-footed-or-worse">support of the tariffs</a>, saying that if negotiations lead to lower tariffs and non-tariff barriers globally, &#8220;it would be a very good thing.&#8221;
Economist Arthur Laffer, while critical of the tariffs themselves, has praised President Donald Trump&#8217;s negotiation style, saying that if this leads to <a href="https://benzinga.com/25/04/44892570/fairer-trade-or-economic-trainwreck-elerian-breaks-down-the-administrations-two-futures">lower global trade barriers</a>, it would be an outcome that he would applaud.
Photo Courtesy: PalSand On Shutterstock.com
Read More: <a href="https://www.benzinga.com/markets/25/04/45029881/this-ceo-says-tariff-uncertainty-is-actually-good-for-his-business">This CEO Says Tariff Uncertainty Is Actually Good for His Business</a>

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S&P 500 Companies Earn 6x More In China Than US Exports: Hedge Fund Manager Says Trade War With Beijing Level Of Stupidity That Has 'No Precedent'

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) &#8220;millionaire&#8221; Glauber Contessoto took to X on Sunday to spotlight the remarkable performance of Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>), noting its 33% rise over the past week. 
What Happened: The post, made through Contessoto&#8217;s X persona SlumDOGE Millionaire, emphasized the coin&#8217;s growth despite major cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) remaining below significant price thresholds. He posed a question to his followers, asking them to consider Floki&#8217;s potential once Ethereum surpasses its previous all-time high. The post concluded with an optimistic &#8220;Strap in,&#8221; along with a rocket emoji.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> is up 33% in the last 7 days Seriously think about that… <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> is still under $100K <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> is still under $2K when <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> finally surpasses all time high &#8211; what do you think <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> will do? Strap in &#x1f680; <a href="https://t.co/b8GC5zBnNe">pic.twitter.com/b8GC5zBnNe</a>
&mdash; SlumDOGE Millionaire (@ProTheDoge) <a href="https://twitter.com/ProTheDoge/status/1916383586703286679?ref_src=twsrc%5Etfw">April 27, 2025</a></blockquote>
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This post comes as Floki has been <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44962519/floki-surges-32-in-7-days-outpaces-dogecoin-shiba-inu-what-is-going-on">outperforming other meme coins</a>, such as Dogecoin and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), as reported by Benzinga last week. Crypto trader Unipcs has noted that Floki is distinguishing itself from other meme coins by surpassing its previous all-time highs.
Over the last Floki, which is a multichain token based on Ethereum and Binance Smart Chain (BSC), has shot up over 30%, leaving behind larger coins like Bitcoin and Ethereum. Bitcoin rose 11% in the period, while Ethereum actually declined over 7%. 
Contrasting Floki&#8217;s performance with meme coins presents an even starker picture. Dogecoin has fallen 1.65% in a 30-day period while SHIB has eked out a mere 1.3% appreciation. 
See Also: <a href="https://benzinga.com/markets/cryptocurrency/25/04/45029372/forget-dogecoin-and-shiba-inu-crypto-analyst-sees-this-coin-surging-100" target="_blank" rel="noreferrer noopener">Forget Dogecoin And Shiba Inu — Crypto Analyst Sees This Coin Surging 100% &#8211; Benzinga</a>
Why It Matters: The surge in Floki&#8217;s value is significant as it suggests a growing interest and potential in the meme coin market. According to Benzinga, Floki&#8217;s recent performance has led some traders to view it as &#8220;incredibly undervalued&#8221; with potential for substantial gains. This sentiment is echoed by SlumDOGE Millionaire&#8217;s post, which highlights the coin&#8217;s impressive growth despite the broader market trends.
However, not all experts share this optimism. Cathie Wood, founder of Ark Invest, has expressed skepticism about the long-term sustainability of meme coins. In a recent interview, she warned that many could <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44390616/cathie-wood-believes-most-memecoins-wont-face-fearsome-declines-end-up-becoming-collectors-items">face &#8220;fearsome declines&#8221; and might only become collector&#8217;s items</a>. This cautionary perspective contrasts with the current enthusiasm surrounding Floki and other meme coins.
Price Action: Over 24 hours, Floki fell nearly 1% to $0.00007811, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Photo Courtesy: Akif CUBUK on Shutterstock.com
Read Next: 
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/45003759/arks-bitcoin-bear-case-is-300000-by-2030-whats-the-bull-case" target="_blank" rel="noreferrer noopener">ARK&#8217;s Bitcoin &#8216;Bear Case&#8217; Is $300,000 By 2030—What&#8217;s The Bull Case? &#8211; Benzinga</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Dogecoin 'Millionaire' Says Give A 'Serious' Thought To Floki As Memecoin Makes Impressive 30% Gains Over 7 Days, Asks Followers To 'Strap In'

ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) provides lithography solutions for the development, production, marketing, sales, upgrading, and servicing of advanced semiconductor equipment systems.
<h2 class="wp-block-heading">If You Bought ASML Stock 10 Years Ago</h2>
The company's stock traded at approximately $108.69 per share 10 years ago. If you had invested $10,000, you could have bought roughly 92 shares. Currently, shares trade at $638.69, meaning your investment's value could have grown to $58,763 from stock price appreciation alone. However, ASML also paid dividends during these 10 years.&nbsp;
Don't Miss:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
</ul>
ASML's dividend yield is currently 1.20%. Over the last 10 years, it has paid about $45.37 in dividends per share, which means you could have made $4,174 from dividends alone.&nbsp;
Summing up $58,763 and $4,174, we end up with the final value of your investment, which is $62,937. This is how much you could have made if you had invested $10,000 in ASML stock 10 years ago. This means a total return of 529.37%. In comparison, the S&amp;P 500 total return for the same period is 199.50%.
<h2 class="wp-block-heading">What Could The Next 10 Years Bring?&nbsp;</h2>
ASML has a consensus rating of "Overweight" and a price target of $851 based on the ratings of 13 analysts. The price target implies more than 33% potential upside from the current stock price.
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
On April 16, the company announced its Q1 2025 earnings, posting revenues of €7.742 billion ($8.764 billion), roughly in line with expectations, according to <a href="https://www.benzinga.com/25/04/44832382/nvidia-supplier-asml-beats-revenue-and-eps-estimates-euv-product-mix-performance-milestones-drive-q1-says-ceo">Benzinga</a>.Sequentially, the revenue declined by 16.75% from €9.3 billion in Q4 2024.
The company reported EPS of €6, above the consensus estimates of $5.760. However, it declined sequentially by 12.41% from €6.85 in Q4.
ASML expects Q2 net sales in the range of €7.2 billion to €7.7 billion, compared to the consensus estimate of €7.73 billion. The company reiterated its full-year 2025 total net sales outlook of €30 billion to €35 billion, compared to the consensus of €32.41 billion.
Given the historical stock price appreciation and expected upside potential, growth-focused investors may find ASML stock attractive. Furthermore, they can benefit from the company's solid dividend yield of 1.20%.
Check out this <a href="https://www.benzinga.com/personal-finance/25/04/44940859/why-johnson-johnson-chevron-and-flowers-foods-are-winners-for-passive-income">article by Benzinga</a> for three stocks offering dividend yields of around 3% to 5%.
Read Next:
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<li>Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.</li>
<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
</ul>
Image: Shutterstock

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ASML

If You Invested $10K In ASML Stock 10 Years Ago, How Much Would You Have Now?

On Friday, while testifying in Washington federal court, Parisa Tabriz, Chrome's general manager, said that the browser's heavy reliance on Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)-owned Google's infrastructure makes it <a href="https://www.benzinga.com/news/legal/25/04/44941262/openai-once-tried-to-use-googles-search-technology-instead-of-microsoft-bing-due-to-quality-issues-was-rejected-now-sam-altmans-startup-says-itd-buy-chrome-if-forced-antitrust-sale-happens">difficult for another company</a> to recreate it.
What Happened: "Chrome today represents 17 years of collaboration between the Chrome people" and the rest of Google, Tabriz said. "Trying to disentangle that is unprecedented," <a href="https://www.bloomberg.com/news/articles/2025-04-25/only-google-can-run-chrome-company-s-browser-chief-tells-judge">reported</a> Bloomberg.
She explained that features like safe browsing mode and password breach alerts depend on the entire Google infrastructure and not just Chrome. "I don&#8217;t think it could be recreated."
Earlier in the day, Harvard University computer science professor James Mickens testified for the Justice Department, the report noted. In his testimony, Mickens said that transferring Chrome ownership is "feasible."
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: The testimonies came as part of a three-week hearing over remedies following Judge Amit Mehta's ruling last year that <a href="https://www.benzinga.com/news/legal/25/04/44876356/google-scores-partial-win-in-antitrust-case-but-faces-setback-on-publisher-tools">Google illegally monopolized</a> the search market.
The Department of Justice has proposed that Google divest Chrome and stop paying for default search placements.&nbsp;
Price Action: Alphabet Inc. Class A shares rose 1.68% on Friday to close at $161.96, while Class C shares climbed 1.47% to $163.85, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Alphabet holds a growth score of 64.44%, based on Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other companies</a>.
Photo Courtesy: Ink Drop on Shutterstock.com.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44999838/can-google-adapt-like-amazon-or-will-it-face-ebays-fate-gene-munsters-candid-take-on-the-search-giants-path-forward-in-the-age-of-ai">Can Google Adapt Like Amazon Or Will It Face eBay&#8217;s Fate? Gene Munster Says ChatGPT &#8216;Overhang&#8217; Isn&#8217;t Going Away, Shares Candid Take On The Path Forward</a></li>
</ul>

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Google Tells Court Only It Can Run Chrome, Warns Forced Divestiture Would Break The Browser: 'Don't Think It Can Be Recreated,' Says Executive

Economist and fund manager Craig Shapiro is not mincing words on President&nbsp;Donald Trump&nbsp;and his latest attempts at centralizing economic power in the White House.
What Happened: On Sunday, Shapiro, the founder of The Collaborative Fund and a macro strategist at The Bear Trap Report, called out Trump in a post on X for running the American economy &#8220;like a Mafia don.&#8221;
Shapiro says that Trump wants to run the entire economy through the White House. &#8220;He has shut down the supply chain simply because he can, seeking to rebuild it in his own vision where loyalists and his supporters run their businesses without interference,&#8221; he says.
See More: <a href="https://www.benzinga.com/news/earnings/25/04/45029759/cramers-warning-tariff-chaos-could-derail-tech-earnings-frenzy-this-week">Cramer&#8217;s Warning: Tariff Chaos Could Derail Tech Earnings Frenzy This Week</a>
The veteran trader and investor argues that Trump is summoning the nation&#8217;s largest companies to his office, &#8220;to beg him to support their efforts, give them exemptions, remove competitors, etc.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump is running the American economy like a Mafia don. He wants the entire economy to run thru the White House. He has shut down the supply chain simply because he can, seeking to rebuild it in his own vision where loyalists and his supporters run their businesses without…
&mdash; Craig Shapiro (@ces921) <a href="https://twitter.com/ces921/status/1916501326831243511?ref_src=twsrc%5Etfw">April 27, 2025</a></blockquote>
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&#8220;He [Trump] doesn&#8217;t care about small business owners,&#8221; Shapiro says, &#8220;because he likes big things, not small things.&#8221; He warns that small businesses don&#8217;t have any voice under this administration, since Trump wouldn&#8217;t want to &#8220;waste any time on you.&#8221;
According to Shapiro, Trump wants companies to &#8220;beg, grovel, and offer gifts&#8221; in exchange for favorable treatment, a dynamic that he compares with Russian President Vladimir Putin, who regularly has all of the nation&#8217;s rich oligarchs come in, &#8220;to kiss the ring and pay the tithe.&#8221;
Shapiro argues that Trump's leadership style is rooted in loyalty and transactional dealings, with dissenters quickly pushed aside. &#8220;He is reducing the number of keys in society he needs to maintain and grow his power,&#8221; he says, warning that when democracies start sliding toward autocracy, the outcomes are usually grim.
Why It Matters: Trump's behind-the-scenes deal-making in the Oval Office has drawn sharp criticism from several other high-profile voices in recent weeks.
Among the critics is investment advisor Ross Gerber, who recently <a href="https://benzinga.com/news/25/04/44868492/art-of-the-steal-ross-gerber-says-small-businesses-get-to-go-bankrupt-while-trump-makes-exceptions-for-mag-7-chinese-imports">described the situation</a> as the &#8220;Art of the Steal.&#8221; Gerber warned that small businesses will be the ones to suffer and go bankrupt, while Trump grants exemptions on Chinese imports for the Magnificent Seven (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#BATS">MAGS</a>) companies. &#8220;This is not only absurd, but just wrong,&#8221; Gerber said.
Sen. Elizabeth Warren (D-Mass.) recently criticized Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook, citing what she described as a pattern of <a href="https://benzinga.com/tech/25/04/44970168/elizabeth-warren-slams-tim-cook-over-alleged-backdoor-deal-with-trump-to-shield-apple-from-crushing-china-tariffs-creates-the-appearance-of-impropriety">influence peddling</a> by &#8220;huge, well-connected corporations&#8221; that, she argued, &#8220;creates the appearance of impropriety.&#8221;
Photo Courtesy: Jonah Elkowitz on Shutterstock.com
Read More: <a href="https://www.benzinga.com/general/market-summary/25/04/45029647/experts-say-new-tariffs-could-spark-higher-prices-and-shortages-within-weeks">Experts Say New Tariffs Could Spark Higher Prices and Shortages Within Weeks</a>

MAGS

Trump Running American Economy Like A 'Mafia Don': Economist Craig Shapiro Draws Parallels With Russia's President

On Sunday, OpenAI CEO Sam Altman acknowledged that the last few updates to the GPT-4o model made its personality &#8220;too sycophant-y and annoying.&#8221;
What Happened: Altman took to X, formerly Twitter, and said, "The last couple of GPT-4o updates have made the personality too sycophant-y and annoying (even though there are some very good parts of it), and we are working on fixes asap, some today and some this week."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">the last couple of GPT-4o updates have made the personality too sycophant-y and annoying (even though there are some very good parts of it), and we are working on fixes asap, some today and some this week. at some point will share our learnings from this, it&#39;s been interesting.
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1916625892123742290?ref_src=twsrc%5Etfw">April 27, 2025</a></blockquote>
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In response to a user asking if the old personality could return, Altman replied, "Yeah, eventually we clearly need to be able to offer multiple options."
See Also: <a href="https://www.benzinga.com/general/entertainment/25/04/45026578/bill-ackman-missed-out-on-3-4-billion-payday-by-selling-netflix-stock-before-the-boom-nflx-now-seen-as-a-recession-play">Bill Ackman Missed Out On $3.4 Billion Payday By Selling Netflix Stock Before The Boom: NFLX Now Seen As A Recession Play</a>
His comments follow OpenAI's announcement of a GPT-4o upgrade, aimed at improving both the model's intelligence and personality. At the time, a user noted that ChatGPT had felt &#8220;very yes-man like lately,&#8221; to which Altman agreed, saying, "Yeah, it glazes too much. Will fix."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">yeah it glazes too much will fix
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1915910976802853126?ref_src=twsrc%5Etfw">April 25, 2025</a></blockquote>
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Why It's Important: Earlier this month, <a href="https://www.benzinga.com/25/04/44881778/amid-rising-competition-from-chinas-deepseek-and-us-rivals-openai-ceo-sam-altman-launches-codex-cli-a-coding-agent-that-runs-on-your-computer">OpenAI launched</a> ‘o3' and ‘o4-mini,' the newest additions to its o-series, built to deliver more thoughtful and deliberate responses. It also launched Codex CLI, a new open-source coding agent.
The Altman-led AI startup has also finalized a <a href="https://www.benzinga.com/25/04/44580172/openai-finalizes-historic-40-billion-funding-round-valuing-company-at-300-billion-with-backing-from-softbank-and-microsoft">landmark $40 billion funding round</a>, boosting its valuation to $300 billion. Key investors in the round include SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
This is reportedly the largest funding round in history and nearly doubles OpenAI's previous valuation of $157 billion.
Photo Courtesy: Meir Chaimowitz on Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

MSFT

SFTBF

SFTBY

Sam Altman Admits ChatGPT New Upgrade Made It Too Sycophantic And Annoying: OpenAI CEO Says 'Working On Fixes ASAP'

Chamath Palihapitiya took to X on Sunday to discuss Huawei&#8217;s strategic approach in the tech industry. Palihapitiya emphasized that Huawei, a prominent Chinese company, has successfully implemented a &#8220;low-end disruptor&#8221; strategy. This involves creating products that are either equivalent to or better than those of existing market leaders, but at a lower cost.
What Happened: The SPAC King identified several companies that Huawei has already outperformed, including Telefonaktiebolaget LM Ericsson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>), Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>), and Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISCO#NASDAQ">CISCO</a>). He also noted that Huawei is making progress against QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) and has set its sights on Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). Palihapitiya&#8217;s comments come amid growing concerns about China&#8217;s technological advancements and their impact on global markets.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Worth noting that Huawei, a Chinese National Champion, has systematically executed a "low-end disruptor" strategy with a lot of success. "Low-end Disruptor" simply means making an equivalent or better product for less than incumbents. End bossed: 1. Ericsson 2. Nokia 3. Cisco…
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1916529549502013649?ref_src=twsrc%5Etfw">April 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Palihapitiya&#8217;s remarks align with recent developments in China&#8217;s tech sector, where companies like Huawei are advancing despite international challenges. This includes Huawei&#8217;s efforts to <a href="https://www.benzinga.com/tech/25/04/44970472/chinas-chip-breakthrough-without-asml-makes-chamath-palihapitiya-take-stock-of-beijings-formidable-nature-america-can-win-if">develop in-house chips</a> to counter U.S. sanctions, as reported in March.
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Why It Matters: Palihapitiya&#8217;s observations underscore the competitive pressure that Chinese companies are exerting on Western tech giants. Huawei&#8217;s strategy of producing cost-effective yet high-quality products is reshaping the competitive landscape. This is particularly relevant as China continues to make strides in chip manufacturing, even without access to advanced tools like those from ASML Holding .
Huawei is <a href="https://www.benzinga.com/25/03/44356270/huawei-develops-in-house-chips-to-counter-us-sanctions-and-leap-ahead-in-the-tech-war">accelerating efforts</a> to replace U.S. components by developing its own computer chips and operating system, with its Kirin X90 chip recently earning national security certification. As its Windows license nears expiration, Huawei plans to launch HarmonyOS-powered PCs later this year to reduce reliance on American technology amid rising U.S.-China trade tensions.
Palihapitiya has previously <a href="https://in.benzinga.com/markets/25/04/44891778/nvidia-not-acting-in-us-interests-says-chamath-palihapitiya-questions-how-alibaba-or-deepseek-are-one-step-ahead">expressed concerns</a> about companies like Nvidia not acting in the best interests of the U.S., highlighting the geopolitical implications of these technological advancements.
Benzinga Edge Stock Rankings identify Nvidia&#8217;s Growth Momentum in the 94th percentile. How do other chip plays stack up? <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here</a> and find out.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="786" height="98" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23.png" alt="" class="wp-image-889985" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23.png 786w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23-300x37.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/27211943/Screenshot-2025-04-28-at-10.19.23-768x96.png 768w" sizes="(max-width: 786px) 100vw, 786px" /></a></figure>
Photo Courtesy: Kathy Hutchins on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

CISCO

ERIC

NVDA

QCOM

Chamath Palihapitiya Says Nvidia Is Huawei's 'New Target' — A 'National Champion' That Crushed Tech Giants With A 'Low-End Disruptor' Strategy

Bitcoin continues to assert its leadership across the digital asset market, with Bitcoin Dominance climbing to a new local high of 64% as of April 22. This metric, which tracks Bitcoin's share of the total crypto market cap, highlights a clear and growing shift in capital toward BTC as the asset rallies past $90,000, currently trading at $92,700.
With Bitcoin now just 18% off its all-time highs, the asset&#8217;s performance becomes even more impressive when stacked against traditional markets. The S&amp;P 500 remains approximately 15% below its record levels, while the Nasdaq Composite lags by more than 20%. This comparison reinforces Bitcoin&#8217;s relative strength and increasing appeal as a macro asset—especially in a market where liquidity remains tight and investors are gravitating toward quality.
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This resurgence in BTC dominance comes at a time when ETF inflows are once again picking up steam, fueling renewed institutional interest. The regulatory landscape, while still evolving, appears to be stabilizing in Bitcoin's favor, especially when compared to the murky and often unpredictable regulatory path facing many altcoins.
Altcoins, by contrast, are struggling. Outside of isolated daily pumps, most of the altcoin market remains in a downtrend or in accumulation phases far from previous highs. Many lack the institutional interest, product-market fit, or meaningful on-chain activity to justify significant upside in the current environment. Fundamentally, the disparity between Bitcoin and most alts has never been clearer—and the market is pricing that in.
That said, some names did show strength. SUI was a standout performer, posting a gain of over 20% on the day and currently trading at $2.60. Despite the bounce, it remains more than 100% away from its all-time high, reminding investors how deep the bear market drawdowns have been for many newer Layer 1s and speculative projects.
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Ethereum also posted a notable move, gaining 10% in a single session to trade at $1,745. While a positive development, ETH still has a long way to go—needing a 170% rally just to revisit its former highs near $4,900. The underperformance of ETH, traditionally seen as Bitcoin's closest competitor, further illustrates the widening gap in investor confidence between BTC and the rest of the market.
This growing disparity underscores more than just price action—it highlights a changing narrative. Bitcoin is being recognized not only as a risk asset but increasingly as a long-term store of value, particularly in uncertain times. The rise in BTC dominance is a reflection of capital rotating into perceived safety, and away from speculative ventures with shaky fundamentals.
To be clear, this doesn't mean altcoins are obsolete—though let's be honest, many are. But it does show how hard it is to consistently &#8220;beat the market&#8221; when Bitcoin is the market.
As BTC.D continues to climb, it sends a clear and resounding message: in crypto, strength leads. And right now, Bitcoin is doing just that.
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Bitcoin Dominance Surges To 64%: What It Means For Altcoins And The Crypto Market Landscape

Greenland's Prime Minister Jens-Frederik Nielsen expressed dissatisfaction with the United States&#8217; approach to discussions about acquiring Greenland. Nielsen reportedly stated, on Sunday, that U.S. officials have not shown respect in their communications.
What Happened: During a press conference near Copenhagen, Nielsen emphasized that Greenland, which is a semi-autonomous region under Denmark, will never be sold, <a href="https://thehill.com/homenews/administration/5270172-greenland-prime-minister-denmark-trump/">reported</a> The Hill. He stressed the importance of unity in response to the U.S. interest, which has been vocalized by President Donald Trump.
The Greenlandic leader added, &#8220;The talks from the United States have not been respectful,&#8221; said Nielsen. &#8220;The words used have not been respectful. That's why we need in this situation, we need to stand together.&#8221;
Danish Prime Minister Mette Frederiksen supported Nielsen&#8217;s stance, highlighting Denmark&#8217;s commitment to investing in Greenland for both historical and commonwealth reasons. She reiterated Denmark&#8217;s dedication to Greenlandic society, as reported by The Hill.
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When questioned about a potential meeting with Trump, Frederiksen expressed openness to discussions with the American president but underscored Denmark&#8217;s clear stance regarding its territories. The Hill noted her comments on the importance of maintaining the Danish commonwealth&#8217;s&nbsp;approach to all parts of&nbsp;the Kingdom of Denmark.
Why It Matters: The U.S. interest in Greenland has been a topic of contention, especially following Trump&#8217;s recent comments suggesting the <a href="https://www.benzinga.com/news/global/25/01/42864556/trump-does-not-rule-out-military-force-to-acquire-panama-canal-greenland-we-need-them-for-economic-security">potential use of military force</a> to acquire the territory for economic security. This has raised concerns among Greenlanders, with a <a href="https://in.benzinga.com/startups/25/02/43561516/trump-shouldnt-have-greenland-why-the-arctic-island-is-rejecting-a-us-buyout">February 2025 poll</a> indicating that 85% of residents oppose the U.S. acquisition proposal.
Vice President JD Vance has <a href="https://www.benzinga.com/25/03/44549976/jd-vance-slams-denmark-for-not-keeping-greenland-safe-from-russian-chinese-incursions-we-can-make-them-much-more-secure">criticized Denmark&#8217;s ability</a> to protect Greenland from foreign incursions, suggesting that the U.S. could offer better security.
Photo Courtesy: Polar Media on Shutterstock.com
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Politics

General

Trump's Greenland Ambitions Get Rebuked: Prime Minister Says'The Talks From The United States Have Not Been Respectful'

<a href="https://www.benzinga.com/news/25/03/44238467/warren-buffett-shares-biggest-investing-mistakes-433m-deal-that-cost-berkshire-billions-and-trillion-dollar-tech-stocks-he-missed">Warren Buffett'</a>s decades-long track record of beating Wall Street is rooted not just in financial strategy but in an unusual discipline: avoiding distractions. The Berkshire Hathaway&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)) chair and CEO said his success stems from a firm belief that investors focus too much on short-term events.
<h2 class="wp-block-heading">Avoiding Noise, Embracing Discipline</h2>
During the <a href="https://buffett.cnbc.com/video/2009/05/02/morning-session---2009--berkshire-hathaway-annual-meeting.html">2009 Berkshire Hathaway shareholders meeting</a>, Buffett recalled a pivotal moment in his life: a stop in Las Vegas in 1952. He and his wife, Susie, had just married and were driving west when they visited the Flamingo Hotel. What he saw there would shape his views for a lifetime.
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"I looked around and saw all these well-dressed people who had come, in some cases, from thousands of miles away," Buffett said. "This was before jets, so transportation wasn't as good. They'd gone to great lengths to do something that every damn one of them knew was mathematically dumb."
Buffett observed the gambling crowd and quickly recognized a truth that would later fuel his investment philosophy: irrational behavior creates opportunity. He turned to Susie and said, "We are going to make a lot of money."
At Berkshire Hathaway's 2019 shareholders meeting, Buffett revisited the Vegas story with more emphasis. "If people are going to get on a plane in New York and fly a couple thousand miles to stand there and do things with a mathematical expectation that's negative on every action they take, that is a world of opportunity," he said.
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His strategy includes tuning out digital noise. He does not use a smartphone and avoids checking email frequently. He told <a href="https://www.cnbc.com/2018/12/17/warren-buffett-says-read-this-poem-when-the-market-is-tanking.html">CNBC</a> in December 2018 that doing so keeps him focused and immune to what he called "breathless commentary" on business news programs.
In his 2017 <a href="https://www.berkshirehathaway.com/letters/2017ltr.pdf">shareholder letter</a>, Buffett wrote, "Your mind may well be rattled by scary headlines … and an unsettled mind will not make good decisions."&nbsp;
That mindset has paid off. Since the May 2010, "flash crash," when the Dow Jones Industrial Average fell more than 9% in 30 minutes, the index has surged approximately 270%. Over the same period,<a href="https://www.benzinga.com/news/25/02/43912215/berkshire-hathaway-dumps-ulta-beauty-citi-and-etfs-but-buffett-just-bet-1-2-billion-on-this-alcohol-giant"> Berkshire Hathaway</a> shares have gained more than 560%.
Buffett told <a href="https://buffett.cnbc.com/video/2010/01/20/buffett-class-b-stock-split-was-easy-decision-full-interview.html?&amp;start=2763">CNBC</a> in January 2010, "I don't know where the market will be in a day, month, or year, but the greatest mistake investors make is to try to time what business will do. It's always a time of uncertainty. Every single day, but uncertainty can be your friend."
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Warren Buffett Says 'People React Too Much To Short-Term Things' — Why His No-Phone, No-Email Rule Helped Him Beat Wall Street Noise

<a href="https://www.benzinga.com/personal-finance/25/03/44068159/nba-legend-shaq-says-his-net-worth-quadrupled-once-he-took-note-from-jeff-bezos-and-started-investing-in-things-that-change-peoples-lives">Shaquille O'Neal</a> may have dominated on the court, but in matters of the heart? He's the first to admit — he dropped the ball.
After ex-wife Shaunie O'Neal said she wasn't sure she ever really loved him, Shaq didn't dodge. He didn't deflect. He just posted one simple, <a href="https://www.instagram.com/reel/C6t0miFuSyA/?igsh=Y3hqbzFqZ2Zqa3E5">gut-punch of a message on Instagram</a> last May:
"I understand. I wouldn't have been in love with me either. Wishing you all the best. All love." The post caption read, "trust me, I get it."
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The post sent fans into a frenzy. Some were heartbroken. Others were worried. Was he okay? Even son Shareef jumped into the comments with a reality check:
"Love you, man! You saved my life. Literally the most lovable and likable person on the planet."
Shaunie had just gone public with her memoir, "Undefeated: Changing the Rules and Winning On My Own Terms", where she wrote, "Looking back, I don't know that I was ever really in love with the man, but I was in love with the idea of being married to the man I had a family with."
She described enjoying time with him on NBA road trips — but made it clear the marriage was built more on image and routine than deep connection.
Shaq, to his credit, took the hit. And this wasn't his first time owning up to his role in the collapse. Back in 2022, on <a href="https://youtu.be/HeojkELPHzo?si=LaXUBA8vS1eBzAlq">"The Pivot Podcast"</a>, he said bluntly:
"I was bad. She was awesome. She really was. It was all me. She did exactly what she was supposed to do…gave me beautiful kids, take care of the house, take care of the corporate stuff. It was all me."
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He also revealed what life looked like after she and the kids moved out of their <a href="https://www.benzinga.com/personal-finance/25/01/43106699/i-had-it-all-nba-legend-shaq-blames-himself-for-divorce-76000-sq-ft-house-by-yourself-no-kids-go-to-their-room-and-nobodys-there">76,000-square-foot mansion</a> in Orlando — and spoiler: it wasn't luxury, it was loneliness.
"You go to the gym — nobody. Go to their rooms — nobody. You start to feel it. The silence starts to get to you."
Shaq had it all — fame, money, trophies — but admits he lost the one thing that actually <a href="https://www.benzinga.com/real-estate/24/10/41168132/nba-legend-shaq-only-used-2-rooms-in-his-76-000-sq-ft-mansion-the-kitchen-because-i-like-to-eat-and">made that house a home</a>.
Shaunie remarried in 2022. Shaq remains single — but still full of grace. "I'm happy for her. I hope this gentleman treats her the way she's supposed to be treated. I'ma still love her," <a href="https://www.essence.com/lifestyle/shaquille-oneal-shaunie-2/">he told Essence</a>.&nbsp;
In the end, the Big Diesel reminds everyone: even giants can feel small when the house is too quiet.
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NBA Legend Shaq Says He Felt 'Lost' Wandering His 76,000-Square-Foot House Alone After Divorce — 'The Silence Starts To Get To You'

In 2022, <a href="https://www.youtube.com/live/cdZZpaB2kDM?si=iE1KpBYZGSQsR9oL">during a TED interview in Vancouver</a>, Elon Musk delivered the kind of line that doesn't leave much room for humility.
"At this point, I think I know more about manufacturing than anyone currently alive on Earth," he said, after recounting what he called three years of "excruciating pain" while ramping up production of the Model 3. "We were on the ragged edge of bankruptcy the entire time… I can tell you how every damn part in that car is made."
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That stretch—2017 through 2019—was brutal, Musk admitted. But by 2022, he seemed confident Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp; had cracked the code. Factories were smarter. Processes were streamlined. The future, according to Musk, would be different.
Now in 2025, that confidence is facing a reality check—one stainless steel panel at a time.
Tesla began Cybertruck deliveries in late 2023. Since then, the truck has been recalled eight times in 15 months. The most recent issue came this month, when U.S. safety regulators issued a recall covering 46,096 Cybertrucks—virtually every one on the road.
According to the <a href="https://www.nhtsa.gov/vehicle/2024/TESLA/CYBERTRUCK/PU%2FCC/AWD">National Highway Traffic Safety Administration</a>, a panel known as the cant rail assembly—running along both sides of the windshield—can detach while driving. The part is secured with structural adhesive that, as it turns out, might not hold up in the real world. Tesla's fix involves a stronger adhesive and added reinforcements. Notices are expected to go out to owners by May 19.
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This follows a November recall over an inverter defect that could cause the drive wheels to lose power—just one in a string of problems that's kept the Cybertruck's <a href="https://www.benzinga.com/personal-finance/25/03/44249300/tesla-cybertruck-owner-says-hes-lost-70k-in-business-over-backlash-customers-hate-it-but-he-loves-it-the-best-truck-ive-ever-had">rollout anything but smooth</a>.
Compounding the technical issues, Tesla's efforts to market the Cybertruck have faced challenges. Initially promoted as a futuristic, high-status vehicle, the Cybertruck attracted celebrity attention and generated immense hype.&nbsp;
On an earnings call just a month before the Cybertruck's November 2023 launch, Musk declared that Tesla had racked up "over 1 million" reservations and said demand was "off the charts." However, sales have been disappointing, <a href="https://www.benzinga.com/news/25/03/44536773/demand-is-off-the-charts-elon-musk-claimed-tesla-had-over-1-million-cybertruck-reservations-just-46096-have-been-sold-in-14-months">with fewer than 50,000 units delivered</a>.&nbsp;
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In response, Tesla has shifted its marketing strategy, <a href="https://www.benzinga.com/markets/25/04/44919745/cybertruck-gets-a-down-to-earth-redesign-as-tesla-shifts-to-traditional-pickup-marketing-amid-poor-sales">repositioning the Cybertruck as a practical, work-capable pickup</a> akin to the Ford F-150. This rebranding aims to appeal to traditional truck buyers, particularly in red-state markets, amid concerns that Musk's political affiliations may have alienated some potential customers.
To be clear, none of this erases Tesla's very real achievements in reinventing car factories or scaling production faster than just about anyone thought possible. But it does cast a playful shadow over Musk's boldest manufacturing claims—because knowing how every part is made doesn't always guarantee they'll get along once they hit the road.
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Image: Shutterstock

TSLA

Elon Musk Said With Confidence 'I Know More About Manufacturing Than Anyone Alive'—Then the Cybertruck Rolled Out With 8 Recalls And A PR Mess

John Santora, the CEO of&nbsp;WeWork, has revealed that the current economic uncertainty due to tariffs is driving an increase in&nbsp;business for the coworking space&nbsp;company.
What Happened: Speaking&nbsp;at a recent summit, Santora highlighted the reluctance of companies to commit to long-term leases amidst the prevailing tariff uncertainty.
During the summit, he <a href="https://www.youtube.com/watch?v=rfW-nEDvWuQ">pointed</a> out that many businesses are holding back their investments to assess the potential impact of tariffs on their operations. This has led to WeWork witnessing a surge in lease extensions from existing clients and growing interest from new companies in their short-term leasing options.
&#8220;So if we look at it and just take today&#8217;s environment with all the uncertainty around tariffs and what&#8217;s happening, who&#8217;s prepared to commit to a 10- or a 15-year lease with $50 or $100 million spend?&#8221; he said. 
Also Read: <a href="https://www.benzinga.com/news/25/04/44890923/mark-cuban-sounds-alarm-over-impact-of-trumps-tariff-war-people-could-die">Mark Cuban Sounds Alarm Over Impact of Trump&#8217;s Tariff War: &#8216;People Could Die&#8217;</a>
Speaking with Bloomberg, Santora further underscored the role of WeWork in offering flexibility to its clients during these uncertain times. He also suggested that the return-to-office mandates could potentially fuel WeWork&#8217;s business, as companies wrestle with the unpredictability of future office attendance.
&#8220;You have to think about it. You have to think whether or not to invest that major capital in a market, at least through this short term. You have to step back,&#8221; he <a href="https://www.bloomberg.com/news/audio/2025-04-25/bloomberg-talks-wework-ceo-john-santora-podcast?">said</a>. 
Why It Matters: WeWork&#8217;s business boost comes at a crucial time for the company, which went public through a SPAC in 2021 and&nbsp;filed for Chapter 11 bankruptcy&nbsp;in 2023. 
The company&#8217;s ability to capitalize on the current economic uncertainty and adapt its business model to cater to the changing needs of its clients could be key to its recovery and future growth. 
However, WeWork declined to comment further on this matter.
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Image: Shutterstock/aushilfe444

This CEO Says Tariff Uncertainty Is Actually Good for His Business

In a bold move that&#8217;s stirring both excitement and concern, <a href="https://www.benzinga.com/news/25/04/44863402/nissan-taps-1-3b-backed-ai-pioneer-wayve-to-supercharge-propilot-system-ushering-a-new-era-of-human-like-driving">AI</a> researcher Tamay Besiroglu has launched Mechanize, a startup with the ambitious goal of fully automating all human labor.
Announced via a post on<a href="https://x.com/tamaybes/status/1912905467376124240"> X</a>, Besiroglu stated that Mechanize aims for &#8220;the full automation of all work&#8221; and &#8220;the full automation of the economy.&#8221; ​
<h2 class="wp-block-heading">What Comes After Humans? Mechanize Is Engineering the Answer</h2>
Mechanize plans to achieve this by developing virtual work environments, benchmarks, and training data to enable <a href="https://in.benzinga.com/news/25/03/44066026/satya-nadella-says-ai-agents-will-replace-knowledge-work-but-theres-one-role-humans-will-always-need-to-play">AI agents</a> to perform tasks traditionally done by humans. The startup is initially focusing on white-collar jobs, such as those in finance, customer service, and management, rather than manual labor roles that would require robotics. ​
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The startup has garnered significant backing from prominent figures in the tech industry, including former GitHub CEO Nat Friedman, tech investor Daniel Gross, Stripe co-founder and CEO Patrick Collison, podcaster Dwarkesh Patel, Google Chief Scientist Jeff Dean, investor Sholto Douglas, and crypto hedge fund AltX Managing Partner Marcus Abramovitch, according to the<a href="https://www.mechanize.work/"> announcement</a> on startup&#8217;s site.
<a href="https://techcrunch.com/2025/04/19/famed-ai-researcher-launches-controversial-startup-to-replace-all-human-workers-everywhere/">TechCrunch</a> reported that Abramovitch expressed his support, stating, &#8220;The team is exceptional across many dimensions and has thought deeper on AI than anyone I know.&#8221;
Besiroglu estimates the total addressable market for Mechanize&#8217;s services by aggregating all wages currently paid to human workers, amounting to approximately $18 trillion annually in the U.S. and over $60 trillion globally. ​
Trending: Donald Trump Just Announced a $500 Billion AI Infrastructure Deal — <a href="https://www.benzinga.com/money/seize-a-share-while-you-still-can-in-the-2-trillion-entertainment-market-with-elf-labs-at-just-2-25-share">Here's How You Can Invest in the Entertainment Market's Next Big Disruptor for Just $998</a>
Despite the ambitious vision, Mechanize&#8217;s launch has sparked controversy. Critics argue that the startup&#8217;s mission could lead to widespread job displacement and economic inequality. One X user<a href="https://x.com/AnthonyNAguirre/status/1912924156838183182"> commented</a>, &#8220;The automation of most human labor is indeed a giant prize for companies, which is why many of the biggest companies on Earth are already pursuing it. I think it will be a huge loss for most humans, as well as contribute directly to intelligence runaway and disaster. The two are inextricably linked. Hard for me to see this as something other than just another entrant in the race to AGI by a slightly different name and a more explicit human-worker-replacement goal.&#8221;
In response to concerns, Besiroglu contends that fully automating labor could lead to &#8220;vast abundance, much higher standards of living, and new goods and services that we can&#8217;t even imagine today.&#8221; In an interview with<a href="https://techcrunch.com/2025/04/19/famed-ai-researcher-launches-controversial-startup-to-replace-all-human-workers-everywhere/"> TechCrunch</a>, he suggests that even if wages decrease, people could derive income from other sources such as rents, dividends, and government welfare. ​
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<h2 class="wp-block-heading">Mechanize's Vision</h2>
Mechanize&#8217;s approach involves creating simulated environments and evaluations that capture the full scope of what people do at their jobs, including complex tasks like long-term planning and coordination.
The startup believes that by addressing the current shortcomings of AI models, such as unreliability and lack of long-context capabilities, it can unlock the potential for AI to perform a wide range of labor tasks.
As Mechanize moves forward, it joins a growing field of AI startups aiming to revolutionize the workforce. While the path ahead is fraught with ethical and economic challenges, the company&#8217;s vision has definitely ignited a critical conversation about the future of work in an increasingly automated world.
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Image: Shutterstock

Mechanize Raises Eyebrows And Millions: Tech Giants And Famous Investors Rally Behind AI Startup Aiming To Fully Automate The Global Workforce

World Network (WLD) outperformed some of the market&#8217;s most valued cryptocurrencies after soaring more than 50% over the week.&nbsp;
What happened: WLD, the native currency of the decentralized identity verification project, jumped 57.48% in the last seven days, becoming the sixth-largest market gain in the period.&nbsp;
The rally outgained returns by market heavyweights Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), which trailed at 10.17% and 11.12%, respectively.
Over the week, the daily active addresses have more than doubled, while large whale transactions, valued at over $100,000, have soared 393%, <a href="https://app.intotheblock.com/?timeRange=7d">according </a>to IntoTheBlock.
Speculative interest has also spiked, with Open Interest in WLD's derivatives <a href="https://www.coinglass.com/BitcoinOpenInterest">surging </a>to a 3-month high of $340 million, per Coinglass. Over 67% of Binance traders with an open WLD position were betting on its price increase.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/04/44971891/sec-teams-up-with-nayib-bukele-led-el-salvador-for-a-crypto-regulatory-sandbox">SEC Zooms In On Nayib Bukele-Led El Salvador&#8217;s Crypto Regulation Model</a>
Why It Matters: The searing rally comes ahead of the World Network&#8217;s upcoming event hosted by its founder and well-known tech entrepreneur, Sam Altman.
The San Francisco event, called "At Last," could see major updates for the network and the cryptocurrency, providing further impetus to the rally.
During the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395999/sam-altman-founded-worldcoin-is-changing-its-name-to-world-and-launching-its-own-blockchai">last such event</a> in October 2024, the project rebranded itself from "Worldcoin" to simply "World" and announced the launch of World Chain, an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 network.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Building the largest human network for the age of AI takes all of us. You&#39;re invited &#x2709;&#xFE0F;<a href="https://t.co/0wbBPo4PEZ">https://t.co/0wbBPo4PEZ</a> <a href="https://t.co/zZLAliGXBH">pic.twitter.com/zZLAliGXBH</a>
&mdash; World (@worldcoin) <a href="https://twitter.com/worldcoin/status/1907857216700289273?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
World Network captures people&#8217;s irises to confirm their humanness and build a digital ID, making them eligible for free WLD tokens.
However, it has been mired in controversy over concerns of personal data privacy, getting outlawed in <a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns">Hong Kong</a>, Kenya, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p">Spain</a>.
Price Action: At the time of writing, WLD was exchanging hands at $1.16, up 18.60% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
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Image: Shutterstock/jamesonwu1972

Movers

Trading Ideas

What Caused Sam Altman-Founded World Network Token To Soar 57% in a Week?

Former NBA player&nbsp;Shaquille O&#8217;Neal&nbsp;has seen a significant increase in his wealth, quadrupling his net worth through an investment strategy inspired by Amazon&#8217;s CEO,&nbsp;Jeff Bezos.
What Happened: In an interview, O&#8217;Neal disclosed that his investment choices are guided by their potential to positively impact people&#8217;s lives, a philosophy he adopted from Bezos.
O&#8217;Neal&#8217;s investments span a broad spectrum of industries, including&nbsp;Five Guys and Big Chicken&nbsp;restaurants, Carnival Cruise Lines, and 24 Hour Fitness. Earlier this year, he also joined the board of directors at Papa John&#8217;s.
The NBA Hall of Famer&#8217;s&nbsp;favorite investment is Krispy Kreme, where he owns multiple franchises. &#8220;Because&nbsp;I like donuts, and Charles&nbsp;Barkley loves donuts. He's my&nbsp;biggest customer,&#8221; O&#8217;Neal said while speaking with <a href="https://www.wsj.com/video/shaquille-oneal-discusses-investing-franchising-and-donuts/8063A172-ABFF-496B-8700-4D51A6234054.html">The</a> Wall Street Journal.
Interestingly, O&#8217;Neal revealed that he declined offers from Wheaties twice, stating, &#8220;Frosted&nbsp;Flakes will always be my&nbsp;first option if you wanna&nbsp;talk cereal business with me.&#8221;
Also Read: <a href="https://www.benzinga.com/general/sports/25/04/45027895/why-shaq-wont-share-his-500-million-fortune-with-his-kids-we-aint-rich-im-rich-im-not-going-to-hand-it-to-you-you-gotta-earn-it">Why Shaq Won&#8217;t Share His $500 Million Fortune With His Kids: &#8216;We Ain&#8217;t Rich. I&#8217;m Rich. I&#8217;m Not Going to Hand It to You, You Gotta Earn It&#8217;</a>
"I heard Bezos say one time when he was talking, he makes his investment based on if it's going to change people's lives. And once I started doing that strategy whistles, I think I probably quadrupled what I'm worth now," O'Neal said.
Looking forward, O&#8217;Neal has ambitious plans that include becoming a sheriff, attending law school, opening his own law firm, and establishing a K-12 children&#8217;s school.
"My skill is if something comes across my desk and I don't believe in it, I won't even look at it. At all. It's just, one, I can't lie to the people, and two, yeah, it's a gut feeling," he added. 
Why It Matters: O&#8217;Neal&#8217;s investment strategy, inspired by Bezos, highlights the importance of investing in ventures that have the potential to change people&#8217;s lives. 
His diverse portfolio, including fast food, fitness, and cruise lines, demonstrates the value of diversification in investment. His success serves as a testament to the potential of strategic and thoughtful investment decisions. 
Furthermore, his future plans indicate a commitment to public service and education, reflecting a broader vision beyond just financial success.
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Image: Shutterstock

Take Investment Advice From Shaq — His Fortune Grew Thanks To Charles Barkley and Donuts

<ul>
<li>With pharmaceutical tariffs expected to be announced in the next 30 to 60 days, experts are warning they could negatively impact the "pretty fragile supply" of generic drugs</li>
<li>The financial consequences of the levies on countries like China and India, which make many of the ingredients necessary for the drugs, may be so dire that the companies stop doing business with the U.S. entirely</li>
<li>This could have massive consequences, as 90% of medications prescribed in the U.S. are generic</li>
</ul>
When President Donald Trump announced his first round of tariffs on April 2, pharmaceuticals were exempted. But at an April 8 dinner of the National Republican Congressional Committee, he told attendees that "major" pharmaceutical tariffs would be announced "very shortly." Now, experts are warning that the imposition of those levies could lead to major shortages and price increases for generic drugs.
According to <a href="https://www.cnn.com/2025/04/16/business/tariffs-impact-generic-drugs-access/index.html?utm_source=business_ribbon">CNN</a>, generic drug companies are already struggling to deal with increasing competition and tight profit margins. Adding hefty levies on top of those existing issues could leave these companies in a position where they'd be unable to recoup the additional expenses, and therefore unable to do business in the U.S.&nbsp;&nbsp;
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"A resilient and reliable generic medicines supply chain is critical to patient health, U.S. healthcare and national security interests. Tariffs, however, will only amplify the problems that already exist in the U.S. market for affordable medicines. Without substantive regulatory and reimbursement changes to the U.S. market, tariffs will exacerbate current shortages that hinder patient access today, John Murphy III, CEO of the Association for Accessible Medicines, said in a <a href="https://accessiblemeds.org/resources/press-releases/aam-comments-on-section-232-investigation-on-pharmaceuticals/">statement</a>.&nbsp;&nbsp;
There are currently over 250 drug shortages in the U.S., down from the all-time high of 323 in early 2024. According to t<a href="https://www.ashp.org/drug-shortages/shortage-resources/drug-shortages-statistics?loginreturnUrl=SSOCheckOnly">he American Society of Health-System Pharmacists</a>, shortages of antibiotics are a particular problem.&nbsp;
And it's poised to get worse. Rena Conti, an associate professor at Boston University, told CNN that there's already "a pretty fragile supply" of generic drugs in general, as nearly 40% of generic medications have just one or two companies making their ingredients. If these factories are hit by tariffs or forced to shut down by rising prices, we could see a huge drop in supply and/or a huge spike in prices.
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For the American consumer, that's bad news. Generic drugs make up about 90% of the medications prescribed in this country. "The pain will ultimately be borne by the consumer, by the patient," Arthur Wong, managing director for US health care practice at S&amp;P Global, told CNN.
These warnings have fallen on deaf ears among the Trump administration. Earlier this month, officials began an investigation into pharmaceutical imports, hoping to set the stage for future tariffs established on national security grounds. The probe must be completed within 270 days, though results may be expected earlier.&nbsp;
Trump told reporters on April 13 that the investigation and resulting tariffs were necessary safeguards. "We're going to have our drugs made in the United States, so that in case of war, in case of whatever, we're not relying on China and various other countries, which is not a good idea," he said.&nbsp;&nbsp;
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But experts aren't convinced that things will play out the way the Trump administration hopes. Evan Seigerman, a pharmaceuticals analyst with BMO Capital Markets, told CNN, "Given the complexity of the Pharma supply chain, we do not expect the industry to make any major changes."&nbsp;
Kathleen Jaeger, US spokesperson for the Indian Pharmaceutical Alliance, agreed with Seigerman, saying, "If large tariffs are imposed, they will trigger substantially more drug shortages, cause greater US dependence on China for life-saving medications, and delay Indian companies' investments in America." India is a major global supplier of generic drugs, and the US, in particular, is heavily reliant on the country to meet demand.&nbsp;
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Experts Warn Tariffs Could Negatively Impact 'Pretty Fragile Supply' Of Generic Drugs

CNBC&#8217;s Jim Cramer is preparing investors for another action-packed week on Wall Street, packed with earnings reports from major <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">tech players and key economic updates</a>.
On Friday, Cramer emphasized that this week investors should brace for financial updates from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), alongside critical economic indicators, CNBC <a target="_blank" href="https://www.cnbc.com/2025/04/25/cramers-week-ahead-key-economic-data-and-big-tech-earnings.html" rel="noreferrer noopener">reports</a>.
Cramer warned that the uncertainty around tariff policy remains a major market risk.
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Without meaningful progress on trade deals, he cautioned that Wall Street might struggle to absorb disappointing earnings, despite the recent market rally.
He described the coming days as &#8220;consequential,&#8221; noting that real trade negotiations must be sorted from political maneuvers to maintain investor confidence. CNBC quotes Cramer, &#8220;We're about to get into the weeds with tariffs.&#8221;
Among industrial names, Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) will post results Monday, with Cramer noting its position at the intersection of tariff discussions and recession concerns.
General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) will report Tuesday, offering potential insight into consumer demand and tariff effects on costs.
Meanwhile, consumer brands Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), and Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) will also share quarterly updates.
Wednesday brings earnings from Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), a stock Cramer watches closely for infrastructure spending clues.
Tech giants Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) will release earnings midweek as well, with advertising trends and AI developments under scrutiny.
On Thursday, attention will turn to Apple and Amazon, with Cramer expecting Apple to pivot towards India and Amazon to highlight its retail and advertising strengths despite tariff pressures.
CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) will post results Thursday, with optimism centered on strong drug sales and insurance performance.
McDonald's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) is also expected to report healthy growth amid a tough consumer environment.
To close out the week, Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) will report Friday, while the Labor Department&#8217;s nonfarm payrolls data could influence Federal Reserve rate-cut expectations, CNBC notes.
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<li><a href="https://www.benzinga.com/news/large-cap/25/04/45027471/consumer-tech-news-apr-21-apr-25-microsofts-copilot-gets-a-sleek-new-look-apple-under-fire-for-influence-peddling-in-us-china-trade-more" target="_blank" rel="noreferrer noopener">Consumer Tech News (Apr 21-Apr 25): Microsoft&#8217;s Copilot Gets a Sleek New Look, Apple Under Fire For &#8216;Influence-Peddling&#8217; In US-China Trade &amp; More</a></li>
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Image: Shutterstock/a katz

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Cramer's Warning: Tariff Chaos Could Derail Tech Earnings Frenzy This Week

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has embarked on a major overhaul of its artificial intelligence (AI) and machine learning divisions, shifting elements to different departments within the organization.
Bloomberg's&nbsp;Mark Gurman,&nbsp;in his&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2025-04-27/what-is-happening-with-apple-s-ai-team-siri-and-robotics-shifts-mark-a-breakup?srnd=undefined&amp;sref=TBDibEcD">latest</a>&nbsp;weekly "Power On" shared that Apple&#8217;s AI team, previously unified under the guidance of John Giannandrea, is being fragmented due to subpar performance. Giannandrea, an ex-Google executive, joined Apple in 2018 with the mission to consolidate Apple&#8217;s dispersed AI projects and supervise the evolution of Siri and other AI-centric initiatives.
However, the unified strategy has not met expectations after six years. Apple&#8217;s AI ventures, including Siri, have fallen behind rivals such as&nbsp;Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Alexa and Google Assistant. Apple Intelligence, the company&#8217;s AI product launched last year, has also disappointed, with several features being delayed.
Consequently, Apple is reverting to its former management structure. Siri has been handed over to Vision Pro head&nbsp;Mike Rockwell, who now reports&nbsp;to software chief Craig Federighi. 
Also Read: <a href="https://www.benzinga.com/tech/25/03/44552954/inside-apples-silent-revolution-ai-doctors-nutrition-tech-and-a-new-retail-boss">Inside Apple&#8217;s Silent Revolution—AI Doctors, Nutrition Tech, And A New Retail Boss</a>
The company&#8217;s covert robotics group has also been shifted from Giannandrea&#8217;s leadership to Apple&#8217;s hardware engineering department, headed by John Ternus.
The restructuring is perceived as a reaction to the AI team&#8217;s failure to deliver products promptly, a luxury Apple can no longer afford. The changes have also sparked rumors that the company is gearing up for Giannandrea&#8217;s potential exit.
Why It Matters:&nbsp;The restructuring of Apple&#8217;s AI team is a significant move, reflecting the company&#8217;s struggle to keep pace with competitors in the AI space. 
The shift in management structure indicates a strategic shift as Apple aims to improve its AI offerings. The performance of Apple&#8217;s AI initiatives, particularly Siri, has been a point of concern, and this restructuring could be a step towards addressing these issues. 
The move also suggests potential changes in Apple&#8217;s leadership, hinting at a possible departure of Giannandrea.
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Image: Shutterstock

Apple's AI Team Undergoes Major Restructuring Amidst Performance Concerns

The Securities and Exchange Commission <a href="https://www.sec.gov/newsroom/press-releases/2025-69">filed charges</a> on Tuesday against Ramil Palafox, accusing him of running a fraudulent investment scheme that collected nearly $198 million from Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and foreign exchange investors and misappropriated more than $57 million for<a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44747802/block-fined-40-million-by-new-york-regulator-over-cash-app-compliance-failures"> his personal benefit.</a>
The Details: According to the SEC's complaint, Palafox operated through his company, PGI Global, which he promoted as a cryptocurrency and foreign exchange trading business. Between January 2020 and October 2021, Palafox offered "membership" packages to investors that promised guaranteed high returns from PGI Global's alleged trading activities.
Read Next: <a href="https://www.benzinga.com/25/04/45012792/trump-administration-to-resume-collections-on-student-loans-5-million-borrowers-in-default?utm_source=articleShare">Trump Administration To Resume Collections On Student Loans: 5 Million Borrowers In Default&nbsp;</a>
The SEC alleges that Palafox diverted over $57 million to finance an extravagant lifestyle, including the purchase of luxury cars, expensive watches and high-end goods. The complaint further states that most of the remaining investor money was used to pay returns and referral bonuses to earlier investors, operating in a Ponzi-like fashion until the scheme collapsed in late 2021.
"Palafox used the guise of innovation to lure investors into lining his pockets with millions of dollars while leaving many victims empty-handed," said Laura D'Allaird, Chief of the Commission's Cyber and Emerging Technologies Unit.&nbsp;
"In reality, his false claims of crypto industry expertise and a supposed AI-powered auto-trading platform were just masking an international securities fraud," D'Allaird added.&nbsp;
The SEC's complaint, filed in the U.S. District Court for the Eastern District of Virginia, charges Palafox with violating federal securities laws' anti-fraud and registration requirements. The SEC is seeking permanent injunctions, a ban on Palafox's involvement in similar investment programs, the return of ill-gotten gains with interest and civil penalties.
In a related criminal case, Palafox has been arraigned on charges brought by the U.S. Attorney's Office for the Eastern District of Virginia.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/global/25/04/44952117/apple-and-meta-fined-nearly-800-million-for-violating-european-unions-digital-markets-act?utm_source=articleShare">Apple And Meta Fined Nearly $800 Million For Violating European Union&#8217;s Digital Markets Act</a>&nbsp;</li>
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