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CANTALOUPE INC

Cantaloupe

Cantaloupe Inc operates in the small ticket electronic payments industry. It provides wireless, cashless, micro-transactions, and networking services within the unattended Point of Sale (POS) market. Its products and services portfolio consists of ePort Cashless devices, eSuds, EnergyMisers, and Value-added services which include Loyalty and Prepaid, Intelligent Vending, and others. The company offers services to different industries covering car wash, taxi and transportation, laundry, vending, kiosk, amusement, and arcade. The company derives revenue from the sale or lease of equipment and services to the small ticket, unattended POS market, and the majority of its revenue is derived from subscription and transaction fees.

The National Highway Traffic Safety Administration (NHTSA) has concluded its 14-month investigation into Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) self-driving company, Waymo. The investigation was initiated due to a series of minor collisions and unexpected vehicle behavior.
What Happened: The NHTSA decided to close the investigation without taking further action, as reported by Reuters on Friday. The probe was launched in May 2024 following 22 reports of potential traffic safety law violations and &#8220;unexpected behavior&#8221; by Waymo&#8217;s robotaxis, including 17 collisions.
The NHTSA considered two recalls issued by Waymo and its analysis of available data before closing the investigation. This included a 2024 recall to address a collision with a utility pole and a May 2024 recall of over 1,200 vehicles to update software for better detection and avoidance of roadway barriers.
See Also: <a href="https://benzinga.com/news/topics/25/07/46602872/joe-rogan-says-most-americans-are-one-catastrophe-away-from-losing-everything-says-ai-and-ubi-income-">Joe Rogan Says Most Americans Are One Catastrophe Away From Losing Everything, Says AI And UBI Income Will Bring Chaos And Addiction</a>
Waymo has over 1,500 vehicles on the road in San Francisco, Los Angeles, Phoenix, and Austin, Texas, and is conducting more than 250,000 fully autonomous paid rides weekly. The company aims to expand its services to New York, Miami, and Washington, D.C., and recently launched a service with Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) in Atlanta.
Why It Matters: The closure of the NHTSA investigation comes at a crucial time for Waymo, which has been making significant strides in the autonomous vehicle industry. The company has been expanding its operations and enhancing its technology to ensure the safety and reliability of its self-driving vehicles.
Earlier this year, Waymo&#8217;s CEO, Tekedra Mawakana, emphasized the importance of a <a href="https://www.benzinga.com/tech/25/05/45585674/waymo-ceo-takes-aim-at-teslas-camera-only-approach-you-have-to-be-able-to-have-this-vision-thats-better-than-humans">LiDAR-based system for autonomous driving</a>. This approach has proven to be effective, as evidenced by the recent investigation closure.
Moreover, Waymo&#8217;s <a href="https://www.benzinga.com/markets/tech/25/06/45752429/waymos-explosive-growth-sets-the-pace-as-tesla-prepares-robotaxi-launch">rapid growth in its ride-hailing operations</a> has positioned the company as a leader in driverless vehicle technology. The NHTSA&#8217;s decision to close the investigation further solidifies Waymo&#8217;s position in the autonomous vehicle industry.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tada Images / Shutterstock.coma

Tech

GOOG

GOOGL

UBER

Alphabet's Waymo Cleared As NHTSA Closes 14-Month Robotaxi Safety Probe

The Donald Trump administration is preparing to launch one of the most expensive defense initiatives in U.S. history, kicking off a $151 billion procurement drive for its "Golden Dome" <a href="https://www.benzinga.com/markets/tech/25/07/46544230/trump-turns-to-jeff-bezoss-project-kuiper-as-elon-musk-feud-threatens-spacex-role-in-175-billion-golden-dome-defense-project-report">missile shield</a>.
What Happened: On Friday, the U.S. Missile Defense Agency said it would soon invite proposals for an "advanced, multi-domain defense system" under the project officially known as Scalable Homeland Innovative Enterprise Layered Defense, or SHIELD, <a href="https://www.ft.com/content/b8cbefc9-9e68-4ba9-a621-667024481a5b">reported</a> the Financial Times.
The 10-year plan seeks to fund a sweeping array of contracts covering research and development, cybersecurity and the design and deployment of systems capable of defending against ballistic, hypersonic, and cruise missile threats.
Trump has pledged $175 billion toward the Golden Dome initiative, modeled loosely on Israel's Iron Dome and vowed to have it operational within three years.
See Also:&nbsp;<a href="https://benzinga.com/news/topics/25/07/46590373/elon-musk-richest-man-alive-is-asked-how-he-feels-about-being-labeled-evil-billionaire-its-not-like-ive-got-some-massive-cash-balance" target="_blank" rel="noreferrer noopener">Elon Musk, Richest Man Alive, Is Asked How He Feels About Being Labeled ‘Evil Billionaire' — ‘It's Not Like I've Got Some Massive Cash Balance'</a>
Why It's Important: On the same day, Booz Allen Hamilton Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) CEO Horacio Rozanski told analysts the firm "can play a variety of roles" and is "participating in the procurement process as it ramps up."
During its <a href="https://www.benzinga.com/markets/earnings/25/07/46600670/l3harris-q2-earnings-revenue-beat-eps-beat-raised-guidance-clear-inflection-point">second-quarter earnings</a> call on Thursday, L3Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) also said that the company is preparing to deploy 40 to 45 Hypersonic Ballistic Tracking Space Sensor (HBTSS) satellites, which are vital to the Golden Dome missile defense system.
Major defense contractors—Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOX#NYSE">NOX</a>), RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) and Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)—have <a href="https://www.benzinga.com/markets/earnings/25/07/46565953/lockheed-martin-confirms-talks-with-us-over-trumps-175-billion-golden-dome-missile-shield-ceo-james-taiclet-says-no-contracts-yet-lmt-is-all-in">also signaled interest</a>.
While Trump's initial defense bill allocates just $25 billion toward the project, the Congressional Budget Office estimates a full-scale missile shield could cost up to $542 billion over 20 years, the report stated.
If executed, the plan could trigger a massive windfall for aerospace firms and defense startups alike, with Elon Musk's SpaceX—despite recent tensions with the administration—well-positioned to <a href="https://www.benzinga.com/25/04/44861620/spacex-palantir-frontrunners-in-bid-that-could-build-donald-trumps-golden-dome-report">secure satellite launch contracts</a>.
The Golden Dome project marks a dramatic expansion of U.S. homeland defense ambitions, potentially reshaping military procurement and creating new frontiers for defense technology and private-sector collaboration.
Benzinga&#8217;s Edge Stock Rankings indicate that Booz Allen Hamilton Corp is showing strong upward momentum in the short and medium term, but exhibits a downward trend over the long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">Additional performance metrics can be found here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/26042123/Screenshot-2025-07-26-at-1.50.01%E2%80%AFPM.png" alt="" class="wp-image-1001868" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

News

Trump's $151 Billion 'Golden Dome' Shield Program Will Soon Open Bidding For Defense Tech Giants, Startups: Report

"Shark Tank" investor Kevin O'Leary has cautioned that Donald Trump's <a href="https://www.benzinga.com/news/politics/25/07/46512871/trump-says-he-doesnt-need-scott-bessents-advice-to-fire-jerome-powell-i-know-better-than-anybody-whats-good-for-the-market">attacks on</a> Federal Reserve Chair Jerome Powell could undermine global trust in U.S. financial markets.
What Happened: On Friday, O'Leary shared a video clip from his Fox News appearance on X, formerly Twitter, warning against politicizing the Fed's role.
"Whacking the Fed is not a good idea, period," he said. "This is a weird situation with this Fed renovation deal. Trump doesn't mind letting people watch sausages being made and that's what you saw there, but whacking the Fed is not about renovating buildings in Washington."
O'Leary defended the Federal Reserve's independence, calling it essential to maintaining global investor confidence.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/07/46643657/tesla-shares-rise-nearly-4-on-bay-area-robotaxi-launch-hopes" target="_blank" rel="noreferrer noopener">Tesla Shares Rise Nearly 4% On Bay Area Robotaxi Launch Hopes</a>
"What makes financial markets work globally is the understanding of the balance of the independence of the Fed to make these really important interest rate decisions," he said. "They get it right, they get it wrong, but the fact that they're independent is what gives comfort to trillions of dollars that comes rolling into the U.S."
In the video, O'Leary shared, Fox News correspondent Charles Gasparino agreed that Fed independence is vital but <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46537558/former-fed-chairs-ben-bernanke-janet-yellen-warn-trumps-pressure-on-powell-could-lead-to-inevitably-higher-inflation-and-economic-damage">criticized Powell's track record</a>.
O'Leary acknowledged past policy mistakes but stressed that removing Powell prematurely would jeopardize institutional credibility. "It's not enough to not let him run out his mandate," O'Leary said. "The orderly transition of the Fed chair is the whole deal."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whacking the Fed is not a good idea, period. This is a weird situation with this Fed renovation deal. Trump doesn't mind letting people watch sausages being made and that&#39;s what you saw there, but whacking the Fed is not about renovating buildings in Washington. It's a big deal… <a href="https://t.co/quwpVg1rUR">pic.twitter.com/quwpVg1rUR</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1948735972926988776?ref_src=twsrc%5Etfw">July 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It's Important: The comments came in response to Trump's ongoing clash with Powell over the <a href="https://www.benzinga.com/news/politics/25/07/46361722/jerome-powell-has-grossly-mismanaged-says-russ-vought-as-fed-hq-renovation-costs-soar-to-2-5-billion-the-palace-of-versailles-would-have-cost-3-billion">$2.5 billion renovation project</a> and repeated public criticisms of Powell's performance on inflation and interest rates.
Office of Management and Budget Director Russell Vought earlier slammed the Fed's renovation costs as excessive, comparing them to the Palace of Versailles.
Powell <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46485087/jerome-powell-defends-2-5-billion-fed-hq-overhaul-says-no-vip-dining-rooms-no-private-elevators-as-trump-allies-slam-project-over-versailles-style-excess">defended the spending</a> as necessary for safety and functionality—amid speculation that Trump could use the overruns as justification to fire Powell.
On Thursday, in a rare visit to the Federal Reserve, Trump urged Powell to cut interest rates and criticized the Fed's costly renovation project, though he later clarified he has <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46621837/trump-says-not-necessary-to-fire-jerome-powell-but-presses-fed-chair-on-rate-cuts-and-2-5-billion-renovation-id-love-him-to-lower-interest-rates">no plans to fire Powell</a> despite their tensions.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Kathy Hutchins / Shutterstock.com

Politics

Kevin O'Leary Warns Trump's Powell Criticism Threatens US Financial Credibility: 'Whacking The Fed Is Not A Good Idea'

On Friday, President Donald Trump signaled that the U.S. may abandon trade negotiations with Canada, <a href="https://www.benzinga.com/news/politics/25/06/46150909/trump-canada-tariffs-dollar-deal">suggesting tariffs</a>—not a deal—may be the outcome.
What Happened: Speaking to reporters ahead of his trip to Scotland, Trump said, "We haven&#8217;t really had a lot of luck with Canada. I think Canada could be one where there&#8217;s just a tariff, not really a negotiation," <a href="https://www.bbc.com/news/articles/c9dgdwl609xo">reported</a> BBC.
The comments follow his imposition of a strict Aug. 1 deadline for Canada to reach a new agreement under his broader global tariff strategy.
Trump warned that if no deal is reached, <a href="https://www.benzinga.com/markets/commodities/25/07/46469746/canada-hits-back-at-trumps-50-steel-tariffs-with-1-billion-rescue-new-quota-system">a 35% tariff would apply</a> to imports from Canada—unless goods fall under the existing North American Free Trade Agreement.
He has already levied tariffs of 25% on certain Canadian goods, 50% on aluminum and steel, and 25% on vehicles not built in the U.S.
See Also:&nbsp;<a href="https://benzinga.com/news/topics/25/07/46590373/elon-musk-richest-man-alive-is-asked-how-he-feels-about-being-labeled-evil-billionaire-its-not-like-ive-got-some-massive-cash-balance" target="_blank" rel="noreferrer noopener">Elon Musk, Richest Man Alive, Is Asked How He Feels About Being Labeled ‘Evil Billionaire' — ‘It's Not Like I've Got Some Massive Cash Balance'</a>
Why It's Important: Canadian Prime Minister Mark Carney previously said Canada "will not accept a bad deal" or be rushed into an agreement.
On Thursday, Canadian intergovernmental affairs minister Dominic LeBlanc said talks in Washington were "productive" but stressed that negotiators "have a lot of work" ahead, the report added.
Canada exports about 75% of its goods to the U.S., and its auto industry is tightly linked with American supply chains. Trump's tariffs could significantly disrupt trade and raise prices for U.S. consumers.
While Trump remains optimistic about deals with other nations—citing a new agreement with Japan in <a href="https://www.benzinga.com/markets/economic-data/25/07/46562556/trump-says-550-billion-trade-deal-with-japan-reached-that-will-create-thousands-of-jobs-there-has-never-been-anything-like-it">exchange for a $550 billion investment</a>—his hardline approach with Canada risks escalating trade tensions with a key ally and economic partner.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

US May Ditch Trade Negotiations With Canada, Trump Says: 'Haven't Really Had A Lot Of Luck'

Renowned financial advisor and radio host Dave Ramsey addressed a financial dilemma faced by a married couple.
What Happened: Ramsey responded to an email from a woman named Emily, who expressed concerns about her husband&#8217;s spending habits, according to a report<a href="https://www.thestreet.com/personal-finance/dave-ramsey-has-blunt-words-on-marriage-and-money"> by</a> The Street.
Emily shared that her husband enjoys dining out frequently, which is disrupting their budget. She believes his behavior might be stress-induced due to his recent salary reduction.
Ramsey acknowledged the situation&#8217;s difficulty, noting that financial stress can lead to unhealthy spending habits.
Ramsey emphasized the importance of addressing financial responsibilities within a marriage. He advised against enabling irresponsible spending, comparing it to an indulgent parent-child dynamic.
Ramsey suggested that dining out should not be routine when finances are tight and encouraged working at a restaurant instead to earn extra income.
See Also: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/07/46409445/dave-ramsey-says-dont-buy-a-new-car-unless-youre-worth-1-million">Dave Ramsey Says Don&#8217;t Buy A New Car Unless You&#8217;re Worth $1 Million</a>
He urged Emily to have a compassionate conversation with her husband, showing him the financial impact of his actions. Ramsey concluded with encouraging words, assuring Emily that they can overcome their challenges together.
Why It Matters: The advice from Dave Ramsey comes at a time when many individuals are grappling with financial challenges.
In a recent episode of The Ramsey Show, a caller named Nicole revealed that despite a household income of $350,000, she and her husband<a href="https://www.benzinga.com/personal-finance/management/25/07/46591390/a-dave-ramsey-caller-earns-350000-but-still-lives-paycheck-to-paycheck-how-do-you-even-rack-up-55k-in-credit-card-debt-on-that-income"> were living paycheck</a> to paycheck with $55,000 in credit card debt.
Ramsey&#8217;s financial guidance extends beyond personal budgeting. He has also advised against<a href="https://www.benzinga.com/personal-finance/management/25/07/46319259/dave-ramsey-warns-a-28-year-old-to-avoid-investing-in-a-business-with-zero-experience-you-have-no-freaking-idea-what-youre-getting-into"> investing in businesses without experience</a>, as seen in a recent warning to a young entrepreneur.
Additionally, Ramsey has shared his investment preferences,<a href="https://www.benzinga.com/personal-finance/mutual-funds/25/07/46436088/dave-ramsey-rejects-bonds-and-stocks-calls-mutual-funds-safer-bet-be-the-tortoise"> advocating for mutual funds over bonds and stocks</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Personal Finance

Dave Ramsey Tells Wife How To Deal With Husband Who Won't Stop Overspending On Dining Out: 'Show Him The Numbers'

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is investigating whether a leak from its early alert system for cybersecurity companies allowed Chinese hackers to exploit flaws in its SharePoint service before they were patched.
Check out <a href="https://www.benzinga.com/quote/MSFT">how MSFT stock is trading here</a>.
What Happened: The American tech giant is looking into whether the program, designed to provide cybersecurity experts with an opportunity to fix computer systems before the disclosure of new security concerns, led to the widespread exploitation of vulnerabilities in its SharePoint software globally over the past several days, Bloomberg reported <a href="https://www.bloomberg.com/news/articles/2025-07-25/microsoft-sharepoint-hack-probe-on-whether-chinese-hackers-found-flaw-via-alert">on</a> Friday.
Microsoft has attributed the SharePoint breaches to state-sponsored hackers from China. At least a dozen Chinese companies participate in the initiative, called the Microsoft Active Protections Program, or MAPP, according to Microsoft&#8217;s website.
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46612914/bitcoin-could-go-to-300000-before-great-depression-crisis-traders-argue">Bitcoin Could Go To $300,000 Before &#8216;Great Depression&#8217; Crisis, Traders Argue &#8211; Benzinga</a>
The investigation comes in the wake of a series of cyberattacks, with the victims now totaling more than 400 government agencies and corporations worldwide, including the US&#8217;s National Nuclear Security Administration, the division responsible for designing and maintaining the country&#8217;s nuclear weapons.
Why It Matters: The investigation into the potential exploitation of Microsoft&#8217;s early alert system comes at a time when the company is under scrutiny for its cybersecurity measures.
This <a href="https://www.benzinga.com/news/25/07/46641054/microsoft-probing-if-chinese-hackers-learned-sharepoint-flaws-through-alert-bloomberg">investigation raises questions</a> about the efficacy of Microsoft&#8217;s cybersecurity systems and the potential impact on its business.
Despite these challenges, Microsoft remains a dominant force in the software industry, as evidenced by its strong standing compared to competitors. In a recent <a href="https://www.benzinga.com/insights/news/25/07/46633948/investigating-microsofts-standing-in-software-industry-compared-to-competitors">industry comparison</a>, Microsoft&#8217;s performance was illuminated through a detailed examination of key financial metrics, market standing, and growth prospects, highlighting the company&#8217;s resilience and competitive edge in the industry.
Price Action: Microsoft stock closed at $513.71, marking a 0.55% surge during regular trading hours on July 25.
Benzinga&#8217;s Edge Stock Rankings indicate MSFT has a positive price trend across all time frames. &nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Know how</a> it's similar to other well-known tech companies.
<figure class="wp-block-image aligncenter 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="467" height="114" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/26031233/Screenshot-2025-07-26-124220.png" alt="" class="wp-image-1001823" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/26031233/Screenshot-2025-07-26-124220.png 467w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/26031233/Screenshot-2025-07-26-124220-300x73.png 300w" sizes="(max-width: 467px) 100vw, 467px" /></a></figure>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

MSFT

Microsoft Probes Possible Breach of Its Cyber Threat Notification System After Suspected Chinese Hack: Report

Ken Fisher, the founder of Fisher Investments, has cautioned investors about a prevalent mistake during market downturns, which he terms &#8220;Breakevenitis.&#8221; This warning comes amidst growing concerns about market volatility and potential bubbles.
What Happened: Fisher, whose firm manages over $332 billion, explained that this phenomenon involves investors selling stocks once they return to their original purchase price after a downturn, according to a report<a href="https://www.thestreet.com/investing/billionaire-fund-manager-describes-one-word-phenomena-holding-back-your-portfolio"> by</a> The Street.
Fisher, known for his extensive experience navigating various market crises, emphasized that market corrections and bear markets are frequent occurrences.
He noted that investors often react emotionally, selling stocks during downturns due to fear of losses, which can negatively impact long-term portfolio performance.
See Also:<a href="https://www.benzinga.com/personal-finance/financial-advisors/25/07/46646681/warren-buffett-issues-urgent-warning-on-looming-social-security-cuts"> Warren Buffett Issues Urgent Warning On Looming Social Security Cuts</a>
According to Fisher, historical data show that markets typically recover and continue to rise after downturns. He advised investors to resist the urge to sell at breakeven and instead focus on the potential gains that follow market recoveries.
Fisher&#8217;s insights are backed by economic theories on loss aversion, highlighting the importance of maintaining a long-term perspective in investing.
Why It Matters: Fisher&#8217;s warning comes at a time when concerns about a potential <a href="https://www.benzinga.com/markets/large-cap/25/07/46641084/wall-street-stock-bubble-2025">stock market bubble</a> are growing louder.
In July, experts from major financial institutions like Goldman Sachs and Bank of America pointed to speculative activities and market concentration reminiscent of past financial manias. These red flags suggest that the market could be on the brink of a significant correction.
Understanding the risks associated with &#8220;Breakevenitis&#8221; is crucial for investors, especially in a climate where market bubbles are being widely discussed.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Equities

As Stock Market Bubble Fears Mount, Ken Fisher Warns Of Common Investor Mistake

Chinese Premier Li Qiang has proposed the establishment of a global organization to promote international cooperation in the field of artificial intelligence (AI).
What Happened: Premier Li made this proposal during the World Artificial Intelligence Conference (WAIC) in Shanghai, Reuters reported on Friday.
He emphasized the need for a unified global framework for AI governance, citing the current fragmented state of AI regulation and institutional rules across different countries.
Li&#8217;s proposal comes amidst the ongoing technological rivalry between China and the United States, the world&#8217;s two largest economies.
The U.S. has imposed export restrictions on advanced technology to China, including high-end AI chips, over concerns about their potential military applications.
Despite these restrictions, China continues to make significant AI advancements, drawing scrutiny from U.S. officials. Li warned that AI could become an &#8220;exclusive game&#8221; for a few countries and companies, highlighting challenges such as a shortage of AI chips and restrictions on talent exchange.
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46557760/bitcoin-eyes-120000-as-ethereum-xrp-dogecoin-weaken">Bitcoin Eyes $120,000 As Ethereum, XRP, Dogecoin Weaken</a>
He also expressed China&#8217;s willingness to share its AI development experience and products with other countries, especially those in the Global South.
Why It Matters: The proposal for a global AI cooperation organization by China&#8217;s Premier Li Qiang is a significant move in the ongoing <a href="https://www.benzinga.com/markets/tech/25/07/46567115/anthropic-warns-us-falling-behind-china-in-ai-arms-race-as-energy-crisis-threatens-2028-infrastructure-goals">tech rivalry</a> between China and the U.S.
This proposal comes at a time when China is making substantial strides in AI, despite U.S. export restrictions. It also underscores the growing importance of AI in global technological competition and the need for international cooperation in its development and regulation.
China&#8217;s AI advancements have been notable, with the country&#8217;s tech giants such as Huawei and Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) showcasing their <a href="https://www.benzinga.com/markets/tech/25/07/46626379/alibaba-chinese-tech-firms-slash-ai-model-prices-to-win-developers">latest innovations</a> at the WAIC. This proposal could potentially reshape the global AI landscape and influence the future of AI development and regulation.&nbsp;
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BABA

China Pushes For Global AI Body Amid Rising Tensions With US Over Tech Exports: Report

On Friday,&nbsp; Cathie Wood-led Ark Invest made significant trades in the market, with the most prominent ones being in Veracyte Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCYT#NASDAQ">VCYT</a>), Iridium Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), CRISPR Therapeutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSP#NASDAQ">CRSP</a>), Kratos Defense &amp; Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), Absci Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABSI#NASDAQ">ABSI</a>), Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>), Adaptive Biotechnologies Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADPT#NASDAQ">ADPT</a>) and Guardant Health Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GH#NASDAQ">GH</a>).
The ABSI Trade
Ark&#8217;s ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) bought a whopping 2,248,226 shares of Absci Corp, a drug discovery and development company.
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The VCYT Trade
Ark Invest&#8217;s ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>) purchased 262,141 shares of Veracyte Inc., a leading genomic diagnostics company. This move aligns with Ark&#8217;s focus on disruptive innovation in the healthcare sector.
The IRDM Trade
Iridium Communications Inc., a company that provides satellite communications worldwide, saw a significant investment from Ark. The ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) and ARKK bought a combined total of 66,763 shares.
The CRSP Trade
Ark Invest sold 249,108 shares of CRISPR Therapeutics AG across the ARKG and ARKK ETFs.
The KTOS Trade
Ark&#8217;s ARKQ and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) sold 36,628 shares of Kratos Defense and Security Solutions Inc., a leading provider of unmanned systems, satellite communications, and warfighter solutions.
Other Key Trades:
<ul class="wp-block-list">
<li>AKRG sold 1,916 shares of Veeva Systems Inc.</li>
<li>ARKG sold 75,523 shares of Adaptive Biotechnologies Corp.</li>
<li>ARKG sold 37,350 shares of Guardant Health Inc.</li>
</ul>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ETFs

ABSI

ADPT

ARKG

ARKK

ARKQ

ARKX

CRSP

IRDM

KTOS

VCYT

VEEV

Cathie Wood's Ark Invest Loads Up On Absci, Offloads CRISPR Therapeutics

Despite President Donald Trump's assertion that the U.S. will sell "so much" beef to Australia, economists and traders say supply shortages and record-high prices make major exports unrealistic.
What Happened: On Thursday, Australia eased longstanding biosecurity restrictions on <a href="https://www.benzinga.com/personal-finance/25/04/44790753/howard-lutnick-calls-out-eu-over-beef-restrictions-unbelievable-they-wont-take-our-chicken-our-lobsters-or-our-corn">U.S. beef imports</a>, prompting Trump to declare on Truth Social, "We are going to sell so much to Australia because this is undeniable and irrefutable proof that U.S. Beef is the safest and best in the entire world."
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/26003728/Screenshot-2025-07-26-at-10.07.24%E2%80%AFAM-1024x612.png" alt="" class="wp-image-1001724" style="width:543px;height:auto" /><figcaption class="wp-element-caption">Source: Truth Social </figcaption></figure>
But livestock traders and economists quickly pushed back, reported Reuters.
"We can't get enough beef in the U.S. right now, so we're bringing it in from Australia and Brazil," said Dan Norcini, an independent U.S. livestock trader. "We're not going to be selling anything significant to anyone."
The U.S. cattle herd is at its lowest in decades—94.2 million head as of July 1—due to drought and feed shortages, the report said.
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Last year, Australia exported nearly 400,000 metric tons of beef to the U.S., while American exports to Australia totaled just 269 tons.
"They have more cattle than people," said David Anderson, agricultural economist at Texas A&amp;M University. "That's why they export so much."
Why It Matters: While egg prices are falling, beef prices have surged to record <a href="https://www.benzinga.com/news/restaurants/25/07/46561796/beef-its-whats-for-dinner-if-you-can-afford-it">highs in 2025</a>, pushing grocery bills higher.
Ground beef now averages $6.12 per pound (up nearly 12% year-over-year), and steaks are around $11.49 per pound.
Key factors include shrinking cattle herds (lowest since 1951), persistent drought, costly feed, high interest rates and trade restrictions—such as a U.S. suspension of cattle imports from Mexico and a 50% tariff on Brazilian beef starting Aug. 1.
Despite rising prices, U.S. consumer demand for beef remains strong. However, companies like Hormel Foods Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) may benefit if shoppers shift to pork or chicken, while plant-based alternatives like Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) and Impossible Foods could also see gains.
Tyson Foods Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) CEO has called this the &#8220;most challenging market&#8221; for beef in the company's history.
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BYND

US Can't Meet Its Own Beef Demand, Let Alone Export 'So Much' To Australia, Say Traders After Trump's Boast: 'Not Going To Be Selling Anything…'

The Federal Emergency Management Agency (FEMA) is set to distribute $608 million to states for the construction of immigrant detention centers, a move aligned with the Donald Trump administration&#8217;s efforts to bolster capacity for detaining migrants.
What Happened: FEMA announced the initiation of a &#8220;detention support grant program&#8221; that will cover the expenses of states in building temporary facilities, according <a href="https://www.cnbc.com/2025/07/25/fema-to-send-states-608-million-to-build-migrant-detention-centers.html">to</a> a CNBC report. States have until August 8 to apply for these funds.
This program is part of the administration&#8217;s strategy to encourage states to develop their facilities for detaining migrants, with FEMA partnering with U.S. Customs and Border Protection to distribute the funds.
Florida&#8217;s Republican Governor, Ron DeSantis, has already expressed the state&#8217;s intention to apply for FEMA reimbursement to fund its new immigrant detention center, dubbed &#8220;Alligator Alcatraz.&#8221; The facility is estimated to cost $450 million annually.
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These funds will be distributed through FEMA&#8217;s shelter and services program, which was directed by Congress during the Biden administration to cover the costs of sheltering migrants for state and local governments, as well as nonprofits.
Why It Matters: This move comes in the wake of the Trump administration&#8217;s aggressive immigration policy, which has led to a surge in profits for private prison operators. The administration&#8217;s $45 billion immigration policy has significantly boosted the fortunes of Geo Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) and CoreCivic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>), the two <a href="https://www.benzinga.com/news/politics/25/07/46284121/trumps-45-billion-immigration-policy-supercharges-profits-for-private-prisons-under-big-beautiful-bill">largest private prison contractors</a>.
Florida, under the Trump administration, opened its state-run immigrant detention camp, &#8220;Alligator Alcatraz,&#8221; in the Everglades, with plans to expand it to hold 10,000 detainees. 
The administration&#8217;s aggressive <a href="https://www.benzinga.com/news/politics/25/06/45967200/ice-could-run-out-of-money-in-weeks-trumps-immigration-push-now-threatens-to-break-the-budget-report">immigration stance</a> has also caused a financial strain on the Immigration and Customs Enforcement (ICE), with the agency at risk of running out of funds by next month.
However, not everyone is on board with the administration&#8217;s immigration policies. Jamie Dimon, the CEO of JPMorgan Chase &amp; Co., has criticized the U.S.&#8217;s immigration policies, warning of <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45990167/jamie-dimon-sounds-alarm-on-us-immigration-policies-obsolete-tech-in-defense-strategy-well-be-out-of-missiles-in-seven-days">potential economic vulnerabilities</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

FEMA Commits $608 Million To Support Trump's Migrant Detention Expansion

Amid growing concerns about the financial burden of developing new AI models, Bret Taylor, chairman of OpenAI, has issued a cautionary note to AI entrepreneurs.
Taylor, who has a background with tech giants like Google and Facebook, highlighted the substantial costs involved in training new AI models.
What Happened: During a recent episode of the Minus One podcast, Taylor advised against the creation of new AI models due to their financial demands.
He suggested that only major industry players such as OpenAI, Anthropic, Google, or Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) have the resources to undertake such projects.
Taylor emphasized that the high costs act as a barrier, preventing the emergence of an &#8220;indie data center market.&#8221;
Instead, Taylor recommended that AI entrepreneurs focus on building services and use-cases, collaborating with established AI companies.
This approach could benefit giants like OpenAI, which offers &#8220;tokens&#8221; for API access, allowing developers to integrate AI into their applications. He also suggested exploring opportunities in the &#8220;AI tools market&#8221; or creating &#8220;applied AI companies,&#8221; similar to SaaS applications from 2010.
See Also: <a href="https://benzinga.com/markets/tech/25/07/46625981/jensen-huang-says-hes-created-more-billionaires-than-any-ceo-dont-feel-sad-for-anybody-at-my-layer">Jensen Huang Says He&#8217;s Created More Billionaires Than Any CEO: &#8216;Don&#8217;t Feel Sad For Anybody At My Layer&#8217;</a>
Taylor warned that developing AI models from scratch could quickly &#8220;destroy your capital,&#8221; as they are &#8220;fast-depreciating assets&#8221; requiring significant investment.
Why It Matters: OpenAI&#8217;s<a href="https://www.benzinga.com/markets/tech/25/07/46538119/openai-is-spending-billions-to-stay-ahead-in-ai-but-jpmorgan-warns-this-vibe-spending-could-push-investors-to-their-limit"> aggressive spending on talent</a> and R&amp;D has raised concerns among investors, with JPMorgan analysts warning that such &#8220;vibe spending&#8221; could push investors to their limit.
Despite these concerns, OpenAI continues to push forward with ambitious projects, such as its partnership with Oracle to<a href="https://www.benzinga.com/markets/tech/25/07/46570838/elon-musk-6-months-ago-said-softbank-doesnt-have-the-money-to-power-500-billion-stargate-project-now-openai-says-5gw-with-oracle-will-exceed-the-initial-commitment-made-wit"> expand Stargate data center capacity</a> by 4.5 gigawatts, aiming to bolster U.S. AI leadership.
Meanwhile, OpenAI&#8217;s recent achievements, like its AI model solving problems at the <a href="https://www.benzinga.com/markets/tech/25/07/46511716/openais-new-ai-model-solves-5-out-of-6-problems-on-the-worlds-toughest-math-olympiad-but-critics-say-it-stole-the-spotlight-from-student-geniuses">International Mathematical Olympiad</a>, have drawn criticism for overshadowing human competitors.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Google, Facebook, Then Sierra &#x7C; Bret Taylor" width="500" height="281" src="https://www.youtube.com/embed/tGUsIg9fLkA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
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Photo courtesy: Svet foto / Shutterstock.com

OpenAI Chairman Says Only Tech Giants Can Afford New AI Models—Startups Should Focus On Applications

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has officially named Shengjia Zhao, a former OpenAI researcher, as Chief Scientist of its newly formed Superintelligence Labs.
What Happened: On Friday, Meta CEO Mark Zuckerberg announced Zhao's appointment on Threads, highlighting his central role in building the company's new frontier AI unit.
"I'm excited to share that Shengjia Zhao will be the Chief Scientist of Meta Superintelligence Labs," Zuckerberg said in a memo he shared.
"Shengjia co-founded the new lab and has been our lead scientist from day one. Now that our recruiting is going well and our team is coming together, we have decided to formalize his leadership role."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/25232631/Screenshot-2025-07-26-at-7.35.48%E2%80%AFAM-1024x717.png" alt="" class="wp-image-1001668" /><figcaption class="wp-element-caption">Source: Threads</figcaption></figure>
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Zhao previously contributed to some of OpenAI's most significant breakthroughs, including ChatGPT, GPT-4 and the "o1" reasoning model.
At Meta Superintelligence Labs, Zhao will work under the leadership of Alexandr Wang, former CEO of Scale AI, who was <a href="https://www.benzinga.com/markets/tech/25/06/46019178/why-metas-superintelligence-project-lead-alexandr-wang-says-it-is-a-strange-time-to-be-a-scientist">brought in to head the lab</a>.
<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">We are excited to announce that <a href="https://twitter.com/shengjia_zhao?ref_src=twsrc%5Etfw">@shengjia_zhao</a> will be the Chief Scientist of Meta Superintelligence Labs! Shengjia is a brilliant scientist who most recently pioneered a new scaling paradigm in his research. He will lead our scientific direction for our team. Let&#39;s go &#x1f680; <a href="https://t.co/D93KQWIvFl">pic.twitter.com/D93KQWIvFl</a>
&mdash; Alexandr Wang (@alexandr_wang) <a href="https://twitter.com/alexandr_wang/status/1948834974205182454?ref_src=twsrc%5Etfw">July 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It's Important: Meta has been ramping up infrastructure support for MSL, with Zhao and his team set to gain access by 2026 to Prometheus, a 1-gigawatt cloud computing cluster located in Ohio, <a href="https://techcrunch.com/2025/07/25/meta-names-shengjia-zhao-as-chief-scientist-of-ai-superintelligence-unit/">reported</a> TechCrunch.
With Zhao joining the team, Meta now has two top AI scientists, including Yann LeCun, who heads the company's FAIR lab.
FAIR, unlike MSL, is dedicated to long-term AI research, exploring methods that could come into play over the next five to ten years. However, it remains unclear how Meta plans to coordinate its three AI divisions, the report said.
Price Action: Meta shares declined by 0.30% on Friday but edged up 0.16% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings indicate that META continues to trend upward across short-, medium-, and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">More detailed performance data can be found here</a>.
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Mark Zuckerberg Names OpenAI Veteran Shengjia Zhao As Chief Scientist Of Meta Superintelligence Labs

The National Aeronautics and Space Administration (NASA) has confirmed a substantial reduction in its workforce.
What Happened: According to the Reuters report, a NASA spokesperson revealed on Friday that approximately 20% of the agency&#8217;s employees are expected to leave soon. This equates to around 3,870 individuals, although the exact number could change in the coming days. 
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The remaining workforce will consist of roughly 14,000 employees.
Why It Matters: This move by NASA follows a series of significant workforce changes in the U.S. government. Earlier in July, the Trump administration <a href="https://www.benzinga.com/news/politics/25/07/46380710/trump-administration-lays-off-over-1350-state-department-employees-after-getting-supreme-court-go-ahead">laid off over 1,350 employees</a> from the State Department as part of a broader restructuring initiative under the Department of Government Efficiency (DOGE).
These layoffs, which affected both civil service and foreign service officers, sparked criticism amid the ongoing international crises.
Just two days before the State Department layoffs, the U.S. Supreme Court removed a key legal barrier to President Donald Trump&#8216;s <a href="https://www.benzinga.com/news/politics/25/07/46313304/trumps-federal-job-cuts-gets-supreme-court-go-ahead-doge-outpaces-big-tech-in-layoffs-across-us-bureaucracy">mass federal workforce reduction plans</a>. This ruling potentially impacted tens of thousands of government employees and reshaped bureaucratic operations across various market sectors.
These developments, along with NASA&#8217;s recent announcement, underscore a broader trend of significant workforce changes within the U.S. government, potentially impacting the country&#8217;s ability to address global challenges.
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SPACE

NASA Confirms Major Workforce Reduction: 1 in 5 Employees Expected To Leave

The stock trade made by the wife of Rep. Mike Kelly (R-Pa.) has sparked concerns about insider information. The House Ethics Committee, however, did not find enough evidence to prove that Kelly violated insider-trading laws.
What Happened: The House Ethics Committee released a report on Friday, which expressed &#8220;serious concerns&#8221; about stock purchases made by Kelly&#8217;s wife in 2020, <a href="https://www.wsj.com/politics/policy/stock-trade-by-lawmakers-wife-fuels-insider-information-concerns-46a7645c">reported</a> The Wall Street Journal.
The report found that Kelly had breached the House&#8217;s code of conduct by not being forthcoming during the investigation into his wife&#8217;s stock purchase. The report&#8217;s public release is intended to serve as a reprimand for his actions.
See Also: <a href="https://benzinga.com/news/topics/25/07/46606682/microsoft-is-betting-big-on-a-startup-that-injects-human-and-animal-waste-into-rocks-to-offset-14-9m-">Microsoft Is Betting Big On A Startup That Injects Human And Animal Waste Into Rocks To Offset 14.9M Tons Of Emissions</a>
The stock in question was purchased by Victoria Kelly a day after a significant tariff decision. The company, Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), operated a local steel plant that was at risk of closure. The report did not establish any violations of insider-trading laws by Kelly.
Why It Matters: The Office of Congressional Ethics deemed Victoria Kelly's stock purchase "uncharacteristic." The immediate occurrence after Rep. Kelly's office learned of favorable federal actions for Cleveland-Cliffs, suggesting potential use of nonpublic information.
The case marks a definitive instance where a formal ethics review was initiated due to a lawmaker&#8217;s spouse engaging in stock trading connected to her husband&#8217;s official duties.
Price Action: CLF stock closed up at 4.86% at $11.44 during <a href="https://www.benzinga.com/quote/CLF">regular trading hours</a> on July 25.
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Photo courtesy: khunkornStudio via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Insider Trading Concerns Swirl Around Rep. Mike Kelly After Wife's 'Uncharacteristic' Stock Buy

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) on Friday said that it has received multiple shareholder proposals concerning the company's <a href="https://www.benzinga.com/markets/tech/25/07/46386582/elon-musk-wants-tesla-to-invest-in-xai-but-its-up-to-shareholders-this-analyst-says-grok-is-worth-the-bet">potential investment</a> in Elon Musk's artificial intelligence startup, xAI.
What Happened: In a statement shared on X, Tesla acknowledged growing shareholder interest in the proposed investment in Grok's parent company.
"Thanks for your engagement in this shareholder proposal process! We have received a number of shareholder proposals on xAI," the company said.
Citing U.S. Securities and Exchange Commission rules, Tesla stated that it will "include one properly submitted proposal on each topic" in its annual proxy statement.
"We would invite the shareholder who made the first proper submission on the topic to attend our shareholder meeting in person," the company added.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46643657/tesla-shares-rise-nearly-4-on-bay-area-robotaxi-launch-hopes">Tesla Shares Rise Nearly 4% On Bay Area Robotaxi Launch Hopes</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thanks for your engagement in this shareholder proposal process! We have received a number of shareholder proposals on xAI. Consistent with SEC rules, our proxy statement would include one properly submitted proposal on each topic, and we would invite the shareholder who made…
&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1948852643754807696?ref_src=twsrc%5Etfw">July 25, 2025</a></blockquote>
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Why It's Important: Tesla&#8217;s annual shareholder meeting is scheduled for Nov. 6, and the deadline for submitting proposals is July 31. Those interested in attending were advised to look out for Tesla's proxy for more details.
Musk previously ruled out a merger between Tesla and xAI but said a shareholder vote on a potential investment is being planned.
&#8220;It&#8217;s not up to me. If it was up to me, Tesla would have invested in xAI long ago. We will have a <a href="https://www.benzinga.com/markets/tech/25/07/46435076/gary-black-says-shareholder-vote-the-fairest-way-to-decide-on-tesla-xai-merger-questions-elon-musks-plans-to-sell-xai-likely-to-grow">shareholder vote</a> on the matter,&#8221; he stated in a statement earlier this month.
The xAI-related proposals arrive amid heightened scrutiny of Musk's cross-company dealings and AI ambitions. Earlier this year, xAI raised $10 billion in combined debt and equity financing and <a href="https://www.benzinga.com/tech/25/03/44549314/elon-musk-acquires-his-own-social-media-platform-x-through-xai-in-33-billion-deal-says-combined-entity-now-worth-80-billion">acquired social media platform</a> X to bolster its chatbot Grok.
Price Action: Tesla shares have declined 21.74% so far this year, but over the past 12 months, the stock has gained 43.50%. On Friday, the stock rose 3.52% during regular trading and ticked up another 0.52% in after-hours trading, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings show that while TSLA is experiencing short-term downward pressure, it maintains positive momentum over the medium and long term. The stock boasts a strong growth score, although its value rating remains on the lower side. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance insights are available here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/25220230/Screenshot-2025-07-26-at-7.30.23%E2%80%AFAM-1.png" alt="" class="wp-image-1001628" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

TSLA

Elon Musk's Tesla To Include Shareholder Proposal On xAI Investment In Proxy After Receiving Multiple Requests

Warren Buffett has issued a stark warning about potential Social Security cuts. The billionaire investor emphasized the importance of maintaining current benefit levels, as millions of retirees depend heavily on these payments.
What Happened: Buffett&#8217;s comments come amid growing concerns about the financial stability of Social Security. The program&#8217;s Old-Age and Survivors Insurance trust fund is projected to deplete by 2033, which could lead to a 23% reduction in benefits for seniors, according to a report <a href="https://www.thestreet.com/retirement/warren-buffett-sends-blunt-message-on-social-security-">by</a> The Street.
This potential cut is alarming, given that many retirees already struggle to meet their financial needs with existing benefits.
During the 2005 Berkshire Hathaway annual meeting, Buffett stated, &#8220;I basically believe that anything that would take Social Security payments below their present guaranteed level is a mistake.&#8221; This sentiment resonates even more today as the threat of benefit reductions looms closer.
Lawmakers have options to avert these cuts, such as adjusting employee wage taxes and altering benefit claim rules. However, time is running out, and immediate action is necessary to prevent a widespread crisis among seniors who rely on Social Security for their livelihood.
See Also: <a href="https://benzinga.com/news/topics/25/07/46606682/microsoft-is-betting-big-on-a-startup-that-injects-human-and-animal-waste-into-rocks-to-offset-14-9m-">Microsoft Is Betting Big On A Startup That Injects Human And Animal Waste Into Rocks To Offset 14.9M Tons Of Emissions</a>
Why It Matters: The urgency of Warren Buffett&#8217;s warning is underscored by his broader philosophy on success and wealth.
In a recent discussion with students at Georgia Tech, Buffett highlighted that true success is measured not by wealth, but by the <a href="https://www.benzinga.com/personal-finance/entrepreneurship/25/07/46510607/forget-wealth-warren-buffett-says-this-word-is-the-true-measure-of-success">love and respect one garners</a> from others. This perspective, shared in his biography &#8220;The Snowball: Warren Buffett and the Business of Life,&#8221; suggests that financial security, like that provided by Social Security, is crucial for a dignified life.
Buffett&#8217;s views on wealth and success have been consistent over the years. At the 1999 Berkshire Hathaway annual meeting, he expressed a willingness to trade his net worth for <a href="https://www.benzinga.com/personal-finance/management/25/07/46327199/billionaire-warren-buffett-was-asked-which-is-better-being-rich-or-being-wealthy-he-said-hed-gladly-trade-net-worth-for-extra-years-on-earth">more time on earth</a>, emphasizing the value of life over financial gain. This aligns with his current stance on Social Security, where he advocates for protecting the financial well-being of retirees.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Warren Buffett Issues Urgent Warning On Looming Social Security Cuts

The Future Fund LLC&#8217;s managing director Gary Black expressed skepticism on Monday regarding the excitement surrounding Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&#8217;s second supervised robotaxi test in San Francisco.
Check out the current price of<a href="https://benzinga.com/quote/tsla"> TSLA stock here</a>.
What Happened: Black pointed out that until the safety driver is removed, Tesla&#8217;s Full Self-Driving (FSD) cannot be considered fully autonomous and thus cannot be scaled nationally.
He compared this to Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), which is trading near its all-time high, noting that Uber is the biggest beneficiary as the industry moves towards autonomy.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Not sure why launching a second supervised robotaxi test in San Francisco excites <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> investors. Until the safety driver comes out, TSLA FSD is not fully autonomous so can't be scaled nationally. Meanwhile UBER continues to trade just off its all-time high (YTD <a href="https://twitter.com/search?q=%24UBER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UBER</a> +50%,… <a href="https://t.co/hLZqdgPCdn">pic.twitter.com/hLZqdgPCdn</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1948809119672000654?ref_src=twsrc%5Etfw">July 25, 2025</a></blockquote>
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Black&#8217;s comments come as Tesla plans to launch its robotaxi service in the San Francisco Bay Area, according to a memo seen<a href="https://www.businessinsider.com/tesla-robotaxi-bay-area-launch-san-francisco-memo-2025-7"> by</a> Business Insider. The service, which could start as soon as Friday, will operate with safety drivers who can control the vehicle.
The geofenced area for the service includes Marin, the East Bay, San Francisco, and extends to San Jose.
See Also:<a href="https://www.benzinga.com/markets/tech/25/07/46627485/trump-tariffs-are-causing-decline-in-ev-battery-demand-says-tesla-general-motors-supplier-lg"> Trump Tariffs Are Causing Decline In EV Battery Demand, Says Tesla, General Motors Supplier LG</a>
On the same day, Tesla&#8217;s shares rose nearly 4% following reports of the impending launch of its robotaxi. The service will initially be available to a select group of invited Tesla owners who will pay for rides within the designated area.
Why It Matters: Black&#8217;s remarks highlight the ongoing debate about the readiness and scalability of autonomous driving technology.
Despite Tesla&#8217;s ambitious plans, Black emphasizes the limitations of the current supervised tests. This skepticism is underscored by Tesla&#8217;s recent stock performance, which has seen a 22% decline year-to-date, in contrast to Uber&#8217;s 51% rise.
Elon Musk, CEO of Tesla, has previously stated that a<a href="https://www.benzinga.com/markets/tech/25/07/46626447/elon-musk-says-20-trillion-valuation-possible-for-tesla-even-as-second-quarter-earnings-show-sales-revenue-decline-extreme-execution-is-needed"> $20 trillion valuation</a> for the company is possible, despite<a href="https://www.benzinga.com/markets/eurozone/25/07/46594863/elon-musks-tesla-loses-ground-in-europe-sales-down-23-even-as-ev-market-grows"> recent declines in sales</a> and revenue. However, Black&#8217;s comments suggest that achieving such a valuation would require significant advancements in autonomous technology.
The launch of the robotaxi service in San Francisco is a critical step for Tesla as it seeks to expand its autonomous offerings. However, the presence of safety drivers indicates that fully autonomous operations are still a work in progress.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/25220230/Screenshot-2025-07-26-at-7.30.23%E2%80%AFAM-1.png" alt="" class="wp-image-1001628" /></a></figure>
Benzinga's Edge Stock Rankings show that while TSLA is experiencing short-term downward pressure, it maintains positive momentum over the medium and long term. The stock boasts a strong growth score, although its value rating remains on the lower side. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance insights are available here</a>.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Photo courtesy: Shutterstock

Gary Black Questions Tesla Robotaxi Hype Ahead Of Bay Area Launch: 'FSD Is Not Fully Autonomous So Can't Be Scaled Nationally'

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