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Fitell

Fitell Corp engages in primary operations of selling gym and fitness equipment in Australia through its indirectly held wholly owned subsidiaries. It operates in two segments: online fitness equipment distribution and licensing business to service the large and growing boutique fitness sector of the broader health and fitness club industry. The majority fitness equipment business is conducted in Australia via its own e-commerce platform and, through third-party sites. Licensing service offers a turnkey solution for personal training studios and commercial gym chains. The company earns maximum of revenue for retail.

Fitell Corp

The foreign inflows in the U.S. equity funds have started &#8220;re-accelerating,&#8221; putting 2025 on the path to become the second-largest year of record inflows of $136 billion, annualized as of mid-2025.
What Happened: According to an X post by the Kobeissi Letter, since 2020, overseas investors have poured $547 billion into U.S. assets, and the foreign purchases of U.S. assets are on track to reach $138 billion in 2025.
However, out of this $138 billion, the investor interest in U.S. equity funds alone could lead to inflows of about $136 billion, the second-highest after 2024.
Such funds have garnered inflows of approximately $350 billion since the beginning of 2020. &#8220;After a brief pause, international buying of US assets is back,&#8221; the post highlighted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Foreign inflows to US assets are re-accelerating: Foreign purchases of US assets are on track to reach $138 billion in 2025, the second-largest year on record, according to Bank of America. Since 2020, overseas investors have poured $547 billion into US assets. This surge has… <a href="https://t.co/2EJK4IMPN2">pic.twitter.com/2EJK4IMPN2</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1934697738488435194?ref_src=twsrc%5Etfw">June 16, 2025</a></blockquote>
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According <a href="https://www.yodelar.com/insights/top-performing-us-equity-funds-of-2025-so-far">to</a> Yodelar, the top-performing U.S. equity funds of 2025 so far include the following;
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<table class="has-fixed-layout">
<tbody>
<tr>
<td>Top U.S. Equity Funds</td>
<td>YTD</td>
<td>3 Years Annualized</td>
<td>5 Years Annualized</td>
</tr>
<tr>
<td>Alger American Asset Growth Fund</td>
<td>-0.73%</td>
<td>24.03%</td>
<td>14.10%</td>
</tr>
<tr>
<td>CT North American Equity 2 Fund</td>
<td>-2.86%</td>
<td>14.79%</td>
<td>15.24%</td>
</tr>
<tr>
<td>Fidelity Index US P Fund</td>
<td>1.66%</td>
<td>17.29%</td>
<td>14.16%</td>
</tr>
<tr>
<td>HSBC American Index C Fund</td>
<td>-6.15%</td>
<td>14.52%</td>
<td>13.77%</td>
</tr>
<tr>
<td>Invesco EQQQ NASDAQ 100 UCITS ETF</td>
<td>-7.28%</td>
<td>21.81%</td>
<td>16.97%</td>
</tr>
<tr>
<td>iShares S&amp;P 500 Industrials Sector UCITS ETF</td>
<td>0.06%</td>
<td>14.62%</td>
<td>15.34%</td>
</tr>
<tr>
<td>Schroder QEP US Core Fund</td>
<td>-5.35%</td>
<td>14.44%</td>
<td>14.33%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/markets/commodities/25/06/45948096/exxon-mobil-chevron-occidental-petroleum-in-focus-as-expert-says-us-economy-is-far-less-sensitive-to-an-oil-shock-amid-israel-iran-conflict">Exxon Mobil, Chevron, Occidental Petroleum In Focus As Expert Says &#8216;US Economy Is Far Less Sensitive To An Oil Shock&#8217; Amid Israel-Iran Conflict</a>
Why It Matters: U.S. equities took a beating in April amid the tariff-induced volatility, but the major benchmark indices have recovered to trade near their all-time highs following a blip.
While <a href="https://www.benzinga.com/markets/equities/25/06/45950097/war-shocks-could-drag-sp-500-down-5-but-market-typically-roars-back-heres-what-data-from-25-wars-70-years-shows">Israel and Iran</a>&#8216;s ongoing conflict poses a threat to the market, analysis of historical data shows that the S&amp;P 500 index drops by 5% and recovers over the next three, six, and 12 months during wars, sans recessions.
Price Action: After falling on Friday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, advanced on Monday. The SPY was up 0.95% at $602.68, while the QQQ advanced 1.39% to $534.29, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
The futures of the Dow Jones, S&amp;P 500, and Nasdaq 100 indices were trading lower on Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/06/45950097/war-shocks-could-drag-sp-500-down-5-but-market-typically-roars-back-heres-what-data-from-25-wars-70-years-shows">War Shocks Could Drag S&amp;P 500 Down 5% — But Market Typically Roars Back: Here&#8217;s What Data From 25 Wars, 70 Years Shows</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

US Equity Funds Are Raking In Billions—These Are The Ones Beating Trump's Tariff Shock in 2025

News

RTX Teams Up With Norway And Kongsberg To Co-Develop GhostEye Radar For NASAMS Air Defense System

Aurora Mobile's Unit EngageLab Inks Pact With Leading Chinese Tea Brand To Boost Global Expansion Via High-Delivery AppPush Notifications

Macro Economic Events

Economics

Trump Says EU Not Yet Offering A Fair Deal; Says Chance Of Japan Deal But They're Tough; Reiterates Threat To Send Letters With What Tariffs He'll Charge; Says Pharma Tariffs Coming Very Soon

TCTM Kids IT Education To Acquire HopeAI In Strategic Move Into AI-Powered Clinical Development, Strengthening Company's Intelligent Healthcare Footprint

iShares MSCI Israel Capped Investable Market Index Fund

Trump Says Seeking Real End to Iran Conflict; Seeking Better Than Ceasefire; May Send Vance, Witkoff To Negotiate

The Trump administration&#8217;s aggressive immigration stance is reportedly causing a financial strain on the Immigration and Customs Enforcement (ICE), with the agency at risk of running out of funds by next month.
What Happened: ICE, the agency responsible for detaining and deporting unauthorized immigrants, is reportedly over budget by $1 billion, with more than three months left in the fiscal year, <a href="https://www.axios.com/2025/06/16/ice-cash-crisis-immigration-crackdown-trump?ref=biztoc.com">Axios</a> reported. This has raised concerns among lawmakers from both parties, who fear that President Trump might divert funds from other agencies to keep ICE afloat, the report added.
The Department of Homeland Security (DHS), which oversees ICE, also risks breaching U.S. law if it maintains its current spending pace. This has intensified calls for the passage of Trump&#8217;s &#8220;Big Beautiful Bill,&#8221; which could allocate an additional $75 billion to ICE over the span of five years, the report said.
The funding crisis is attributed to the Trump administration&#8217;s demand for ICE to arrest 3,000 immigrants daily, a pace that ICE is struggling to meet.&nbsp;The agency&#8217;s detention facilities, with about 41,000 beds, are well beyond capacity, prompting DHS to seek additional detention space both&nbsp;in the U.S. as well as overseas.
DHS recently reallocated nearly $500 million to fund immigration operations, but it still needs at least $2 billion more by September. Lawmakers warn the agency could run out of money by July, risking a violation of the Anti-Deficiency Act.
ICE did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/health-care/25/06/45954557/ozempic-patent-expires-in-canada-after-novo-nordisk-fails-to-pay-450-fee-its-the-second-largest-" target="_blank" rel="noreferrer noopener">Ozempic Patent Expires In Canada After Novo Nordisk Fails To Pay $450 Fee: &#8216;It&#8217;s The Second-Largest Semaglutide Market In The World,&#8217; Says Sandoz CEO Richard Saynor</a>
 Why It Matters: The financial crisis at ICE comes in the wake of President Trump&#8217;s <a href="https://www.benzinga.com/news/politics/25/06/45943800/trump-orders-ice-to-launch-the-single-largest-mass-deportation-program-in-history-targeting-los-angeles-chicago-and-new-york">directive to</a> ICE to initiate the &#8220;single largest Mass Deportation Program in History,&#8221; targeting cities like Los Angeles, New York, and Chicago. 
Additionally, ICE has been leveraging a network of<a href="https://www.benzinga.com/news/legal/25/06/45742565/ice-taps-nationwide-ai-driven-camera-network-it-doesnt-have-a-contract-with-to-track-immigration-activity-through-local-police-requests-report"> AI-powered license</a> plate cameras, installed across more than 5,000 communities in the U.S., to track immigration activity. This has further strained the agency&#8217;s resources, contributing to its current financial predicament and raising concerns over privacy and civil liberties.
In May, Rep. Alexandria Ocasio-Cortez (D-NY) accused the Trump administration of <a href="https://finance.yahoo.com/news/trump-administration-funneling-money-private-141633715.html">channeling money</a> to private prison companies running immigration detention centers. 
If Trump's bill fails to pass soon, he may declare a national emergency to divert funds from other government departments to ICE, says Chris Marisola, a former Defense Department lawyer and professor at the University of Houston Law Center, as per Axios. Notably, this move could be similar to Trump&#8217;s 2020 decision to divert nearly $4 billion from the Pentagon to fund his border wall project.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45965595/eric-trump-says-he-doesnt-have-public-involvement-in-justin-suns-mstr-type-public-venture-b" target="_blank" rel="noreferrer noopener">Eric Trump Says He Doesn&#8217;t Have &#8216;Public Involvement&#8217; In Justin Sun&#8217;s MSTR-Type Public Venture, But Admits He&#8217;s A &#8216;Fan&#8217; Of Tron And Its Founder</a> </li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ICE Could Run Out Of Money In Weeks — Trump's Immigration Push Now Threatens To Break The Budget: Report

<h3>Companies Reporting Before The Bell</h3>
• Tsakos Energy Navigation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEN#NYSE">TEN</a>) is estimated to report quarterly earnings at $0.40 per share on revenue of $154.01 million. 
• Jabil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) is expected to report quarterly earnings at $2.32 per share on revenue of $7.07 billion. 
• John Wiley &amp; Sons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLY#NYSE">WLY</a>) is expected to report quarterly earnings at $1.27 per share on revenue of $435.00 million. 
• Kirkland's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KIRK#NASDAQ">KIRK</a>) is likely to report quarterly loss at $0.47 per share on revenue of $85.56 million. 
• Vince Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNCE#NYSE">VNCE</a>) is expected to report quarterly loss at $0.42 per share on revenue of $56.12 million. 
• John Wiley &amp; Sons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLYB#NYSE">WLYB</a>) is projected to report earnings for its fourth quarter. 
<h3>Companies Reporting After The Bell</h3>
• Vistagen Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTGN#NASDAQ">VTGN</a>) is projected to report quarterly loss at $0.49 per share on revenue of $209 thousand. 
• La-Z-Boy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LZB#NYSE">LZB</a>) is expected to report quarterly earnings at $0.93 per share on revenue of $557.44 million. 
• Beyond Air (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAIR#NASDAQ">XAIR</a>) is expected to report quarterly loss at $0.14 per share on revenue of $1.39 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

KIRK

VNCE

VTGN

WLYB

XAIR

Earnings Scheduled For June 17, 2025

Nearly 70,000 people have registered interest in President Donald Trump&#8216;s new $5 million &#8220;Trump Card&#8221; visa program, Commerce Secretary Howard Lutnick announced Monday. The waiting list reached 68,703 applicants within hours of Lutnick&#8217;s morning update showing 67,697 registrations.
What Happened: The Trump administration launched TrumpCard.gov last week, allowing foreign nationals to register for the premium residency program. The website features a gold card design displaying Trump&#8217;s face, signature, an eagle, the Statue of Liberty, and the American flag.
&#8220;The card will be made of gold. It will be beautiful,&#8221; Lutnick <a href="https://www.ft.com/content/468b885d-679d-4419-8d6b-2a7d708d6c6e">told </a>the Financial Times. He emphasized Trump&#8217;s attention to aesthetic details, noting the president &#8220;deeply cares about&#8221; how the investment vehicle looks and feels.
The program targets business leaders and companies seeking U.S. legal residency for executives or employees. One unnamed global technology CEO indicated plans to purchase over 100 cards if the scheme reaches &#8220;fruition,&#8221; viewing it as attracting &#8220;the world&#8217;s best and brightest&#8221; entrepreneurs, engineers, and scientists, according to the report.
Lutnick plans to <a href="https://www.benzinga.com/news/politics/25/06/45898900/pay-5-million-get-the-trump-card-new-visa-program-now-accepting-applications">replace the existing EB-5 investor visa program</a>, which granted approximately 14,000 visas last year with minimum investments up to $1.8 million. The Commerce Department expects to issue tens of thousands of Trump Cards this summer, with Lutnick projecting that 200,000 visas could generate $1 trillion in Treasury revenue.
See Also: <a href="https://www.benzinga.com/news/politics/25/06/45966745/trump-uks-keir-starmer-strike-g7-trade-deal-aerospace-tariffs-slashed-auto-quotas-set-steel-aluminum-still-in-limbo">Trump, UK&#8217;s Keir Starmer Strike G7 Trade Deal: Aerospace Tariffs Slashed, Auto Quotas Set—Steel, Aluminum Still In Limbo</a>
Why It Matters: Billionaire Trump donor John Paulson originally proposed the concept as a debt reduction mechanism for America&#8217;s $36 trillion burden.
The program represents a significant shift targeting high-net-worth individuals. Immigrant entrepreneurs comprise <a href="https://www.benzinga.com/25/03/44070799/mark-cuban-supports-trumps-new-gold-card-scheme-if-sold-to-corporations-for-employee-citizenship-have-a-look-at-the-listed-companies-with-most-number-of-immigrants">22.6% of all U.S. entrepreneurs</a> and founded 46% of Fortune 500 companies. 
Billionaire Mark Cuban previously supported the concept if corporations buy cards for high-earning employees, while Elon Musk was involved in <a href="https://www.benzinga.com/news/25/03/44519944/elons-building-me-the-software-right-now-commerce-secretary-howard-lutnick-says-he-sold-1k-trump-cards-for-5m-each-in-one-day">developing the application software</a>. 
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/06/45965418/lockheed-martins-f-35-jets-spark-outcry-in-madison-as-pentagon-rejects-18-million-noise-mitigation-grant">Lockheed Martin&#8217;s F-35 Jets Spark Outcry In Madison As Pentagon Rejects $18 Million Noise Mitigation Grant</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Courtesy: Joshua Sukoff / Shutterstock.com

Government

Howard Lutnick Says Nearly 70,000 Register For $5 Million 'Trump Card' Visa As US Eyes $1 Trillion Windfall From Premium Immigration Plan

Senate Republicans presented the long-awaited version of President Donald Trump's "big, beautiful bill" on Monday, with notable changes made to the <a href="https://www.benzinga.com/25/05/45582778/trumps-big-beautiful-bill-passes-house-what-it-means-for-taxes-student-loans-medicaid-and-more">version that passed the House</a>.
What Happened: Spearheaded by Senate Finance Committee Chair Mike Crapo (R-Idaho), the bill includes tax provisions such as deductions for tips and overtime pay, as well as a boost to the standard deduction, according to <a href="https://benzinga.slack.com/archives/C06S461L7PZ/p1750139335022209?thread_ts=1750139221.697549&amp;cid=C06S461L7PZ">a</a> report by The Hill.
The Senate also raises the federal debt ceiling by $5 trillion, which is $1 trillion more than the House version. Stricter <a href="https://www.benzinga.com/25/05/45278823/over-5-million-americans-set-to-lose-health-coverage-by-2034-amid-proposed-gop-medicaid-cuts-cbo-analysis">Medicaid eligibility</a> requirements have also been drawn up.
Noteworthy policy changes include semi-annual <a href="https://www.benzinga.com/news/25/06/45762220/medicaid-cuts-are-heroic-speaker-mike-johnson-says-4-8-million-wont-lose-healthcare-unless-they-choo">Medicaid eligibility redeterminations</a> and restrictions on states' ability to use provider taxes to draw down federal funds.
The bill maintains a $10,000 cap on state and local tax (SALT) deductions, reversing a House deal to raise it. It <a href="https://www.benzinga.com/general/health-care/25/05/45537041/trumps-tax-bill-expands-child-benefits-with-2500-credit-and-1000-savings-boost-for-babies-born-through-2028">also sets a lower increase for the Child Tax Credit than the House bill</a> and phases out <a href="https://www.benzinga.com/news/politics/25/06/45786416/joe-biden-calls-trump-probe-a-distraction-from-disastrous-gop-bill-aiming-to-raise-costs-for-americans-all-to-pay-for-tax-breaks-for-the-ultra-wealthy">Biden-era clean energy credits</a> more gradually, while terminating the hydrogen tax credit by 2026 unless projects are already underway.
See Also: <a href="https://www.benzinga.com/news/politics/25/06/45965629/trump-exits-g7-summit-early-citing-obvious-reasons-amid-escalating-iran-israel-conflict-gold-oil-etfs-spike-in-after-hours-trading">Trump Exits G7 Summit Early Citing &#8216;Obvious Reasons&#8217; Amid Escalating Iran-Israel Conflict: Gold, Oil ETFs Spike In After-Hours Trading</a>
Why It Matters: The proposal is already facing backlash from multiple factions. Sen. Rand Paul (R-Ky.) is against the large debt ceiling increase, while Sen. Ron Johnson (R-Wis.) argues the bill does not go far enough to curb the deficit, saying, "We're not seriously addressing our long-term deficit and debt issues."
The Medicaid cuts, estimated by the CBO to reduce spending by $863 billion over a decade, would leave 10.9 million <a href="https://www.benzinga.com/news/health-care/25/06/45930856/trumps-tax-plan-could-leave-millions-uninsured-hit-rural-america-hard">more Americans uninsured if enacted</a>. Sen. Josh Hawley (R-Mo.) criticized the rural impact, saying, "We're going to pay for [green subsidies] by defunding rural hospitals. That's going to be a hard argument to make in Missouri."
Senators from blue states also criticized the SALT cap rollback. "Instead of undermining the deal already in place… the Senate should work with us to keep our promise of historic tax relief," wrote House SALT Caucus co-chairs Reps. Young Kim (R-Calif.) and Andrew Garbarino (R-N.Y.).
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45965638/amid-trumps-anti-ev-push-senate-republicans-propose-tax-bill-to-axe-7500-ev-credit">Amid Trump&#8217;s Anti-EV Push, Senate Republicans Propose Tax Bill To Axe $7500 EV Credit</a></li>
</ul>
Photo courtesy: Maxim Elramsisy / Shutterstock.com

Politics

Senate Republicans Unveil Trump Tax And Health Plan With $5 Trillion Debt Ceiling Hike, Tighter Medicaid Rules In The 'Big, Beautiful Bill'

CRTO

Criteo Launches Auction-Based Display Ads To Bring Programmatic Flexibility And New Value To Global Retail Media

Max Keiser, known for his early advocacy and unwavering enthusiasm regarding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), has made some eye-popping forecasts regarding its price.
What happened: During an interview with Simply Bitcoin in September of last year, Keiser dissected how Bitcoin is mathematically guaranteed to increase in purchasing power and potentially hit a market capitalization of even $300 trillion
"The price is just a proxy for how quickly the fiat world is disintegrating," said Keiser, who also serves as the senior Bitcoin advisor to the El Salvador president.
Keiser expressed confidence that Bitcoin will "demonetize" gold, the bond market and the stock market.&nbsp;
"So now you&#8217;re talking about Bitcoin worth $100 trillion, $200 trillion, $300 trillion. These are all completely within the realm of highly probable going forward," he projected.&nbsp;
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<iframe loading="lazy" title="Max Keiser: Why Bitcoin Could Be A $300 Trillion Asset Class &#x7C; Ep 1075" width="500" height="281" src="https://www.youtube.com/embed/lnE7o9B0dhQ?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>
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/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>
Let's assume Keiser's prediction comes true and Bitcoin indeed rises to a market value of $300 trillion. This would mean a whopping 14900% jump from its current capitalization of $2.11 trillion.
Assuming that this feat is reached once the entirety of BTC&#8217;s supply, i.e., 21 million, is mined in 2140, the price of one Bitcoin will rise to roughly $14.29 million.
But what if we get there much earlier? As of this writing, 19.87 million BTC have been mined. Assume the $300 trillion figure is achieved when the circulating supply reaches 20 million. At that point, one Bitcoin will cost $15 million.
It&#8217;s worth noting that Keiser&#8217;s faith in Bitcoin was so strong that<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39420309/who-is-bitcoin-influencer-max-keiser" target="_blank" rel="noreferrer noopener">&nbsp;he became one of the first mainstream journalists</a>&nbsp;to cover it when it was priced at only $0.30. Moreover, he predicted it to hit $100,000 when it was around $1 in 2011.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The only Bitcoin prediction of mine that truly matters is in 2011, at $1, I said it was going to $100,000 This was said on my show, etc As far as new predictions… The only metric you need to know is that everything is going to zero against Bitcoin. <a href="https://t.co/GXTdn8asvl">https://t.co/GXTdn8asvl</a>
&mdash; Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1932809530628583567?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $106,744.49<span style="color: rgb(255, 255, 255); font-family: Inter, -apple-system, BlinkMacSystemFont, &quot;segoe ui&quot;, Roboto, Helvetica, Arial, sans-serif; font-size: 15px; white-space-collapse: collapse; background-color: rgb(13, 20, 33);">, down 0.35% 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>.&nbsp;
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45942372/anthony-scaramucci-welcomes-philippe-laffonts-bitcoin-advocacy-after-billionaire-hedge-fund-manager-says-apex-crypto-has-become-central-to-investment-portfolios">Anthony Scaramucci Welcomes Philippe Laffont&#8217;s Bitcoin Advocacy After Billionaire Hedge Fund Manager Says Apex Crypto Has Become &#8216;Central&#8217; To Investment Portfolios</a></li>
</ul>
Photo: Shutterstock

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

Cryptocurrency

Markets

$BTC

AMZN

Max Keiser Once Predicted Bitcoin Could Hit A $300 Trillion Market Cap — Here's How Much 1 BTC Would Be Worth If That Happens

STMicroelectronics Unveils AI-Powered Human Presence Detection To Cut Laptop Power Use by 20% And Boost Privacy

China announced Tuesday that Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) will attend its flagship China International Supply Chain Expo for the first time in July, marking a significant development as U.S.-China tech tensions reach new heights over semiconductor trade restrictions.
What Happened: Yu Jianlong, deputy director of the China Council for the Promotion of International Trade, called the participation of over 100 U.S. and European exhibitors a &#8220;vote of confidence&#8221; in China&#8217;s supply chain amid a &#8220;complex and volatile&#8221; global trade landscape, <a href="https://www.scmp.com/economy/china-economy/article/3314715/nvidia-hands-china-symbolic-victory-attendance-beijing-expo?module=perpetual_scroll_0&amp;pgtype=article">reported</a> the South China Morning Post. 
The artificial intelligence chipmaker&#8217;s Beijing appearance comes despite escalating export controls that cost Nvidia $2.5 billion in first-quarter revenue. CEO Jensen Huang recently said that the <a href="https://www.benzinga.com/markets/equities/25/06/45918580/nvidia-drops-china-from-guidance-after-2-5-billion-q1-revenue-hit-ceo-jensen-huang-says-hes-not-">company no longer includes China in revenue forecasts</a>, stating, &#8220;I&#8217;m not counting on it, but if it happens, then it will be a great bonus.&#8221;
See Also: <a href="https://www.benzinga.com/news/politics/25/06/45965629/trump-exits-g7-summit-early-citing-obvious-reasons-amid-escalating-iran-israel-conflict-gold-oil-etfs-spike-in-after-hours-trading">Trump Exits G7 Summit Early Citing &#8216;Obvious Reasons&#8217; Amid Escalating Iran-Israel Conflict: Gold, Oil ETFs Spike In After-Hours Trading</a>
Why It Matters: The timing highlights mounting pressure on China&#8217;s semiconductor independence. Chinese automakers, including BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), Geely Automobile Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYF#OTC">GELYF</a>), and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) are accelerating plans to eliminate foreign chips by 2027, targeting 100% <a href="https://www.benzinga.com/markets/equities/25/06/45966176/after-nvidia-pauses-china-outlook-top-chinese-automakers-race-to-ditch-foreign-chips-aim-for-100-domestic-supply-by-2027-report">domestic semiconductor supply chains</a>.
This represents a dramatic shift from Beijing&#8217;s previous 25% domestic chip usage goal for this year. Major automakers currently rely heavily on Nvidia&#8217;s AI processors for autonomous driving and Qualcomm Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) <a href="https://www.benzinga.com/markets/equities/25/06/45966176/after-nvidia-pauses-china-outlook-top-chinese-automakers-race-to-ditch-foreign-chips-aim-for-100-domestic-supply-by-2027-report">smart cockpit solutions</a>.
Washington&#8217;s export controls have blocked Nvidia&#8217;s <a href="https://www.benzinga.com/tech/25/05/45309175/nvidia-modifies-h20-chip-for-china-after-us-restrictions-block-sales-aims-to-deliver-new-version-by-july-report">China-specific H20 AI chip shipments</a>, requiring special licenses. 
The restrictions aim to limit China&#8217;s access to advanced semiconductor technology critical for <a href="https://www.benzinga.com/tech/25/05/45309175/nvidia-modifies-h20-chip-for-china-after-us-restrictions-block-sales-aims-to-deliver-new-version-by-july-report">AI development and military applications</a>.
Benzinga Edge Stock Rankings indicate Nvidia continues to show strong upward momentum across short-, medium-, and long-term timeframes. Full <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">performance insights are available here</a>.
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="886" height="648" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17030137/image-253.png" alt="" class="wp-image-951718" style="width:461px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17030137/image-253.png 886w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17030137/image-253-300x219.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/17030137/image-253-768x562.png 768w" sizes="(max-width: 886px) 100vw, 886px" /></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: Evolf on Shutterstock.com

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Nvidia To Appear At China's Top Supply Chain Expo Despite Escalating US-China Chip War: Beijing Calls Participation 'A Vote Of Confidence'

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The relationship between&nbsp;OpenAI&nbsp;and&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is becoming increasingly strained, with OpenAI reportedly contemplating a drastic move in the ongoing negotiations.
What Happened: OpenAI is exploring the option of accusing Microsoft of anticompetitive practices — a step that could potentially strain their long-standing partnership, <a href="https://www.wsj.com/tech/ai/openai-and-microsoft-tensions-are-reaching-a-boiling-point-4981c44f">reported</a> The Wall Street Journal on Monday. This potential move might include requesting a federal regulatory review of their contract terms for possible antitrust violations, along with launching a public campaign, 
The negotiations have entered a pivotal stage, with OpenAI reportedly aiming to reduce Microsoft&#8217;s influence over its AI products and access to computing resources, but Microsoft&#8217;s consent is pivotal for OpenAI&#8217;s transition into a for-profit entity, a change that could facilitate increased fundraising and a potential public listing.
OpenAI and MSFT did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/events/25/06/45964856/trump-asks-everyone-to-immediately-evacuate-tehran-odds-of-us-striking-iran-spike-on-crypto-betting-p" target="_blank" rel="noreferrer noopener">Trump Asks &#8216;Everyone&#8217; To Immediately Evacuate Tehran, Odds Of US Striking Iran Spike On Crypto Betting Platform</a>
Why It Matters: Microsoft, once a key driver of OpenAI's early growth in return for priority access to its technology, has now emerged as a rival—adding complexity to ongoing negotiations. The two companies are also in disagreement over the stake Microsoft would hold if OpenAI transitions into a public-benefit corporation.
In May, OpenAI was&nbsp;reportedly in <a href="https://www.benzinga.com/25/05/45340216/openais-ipo-ambitions-hang-in-the-balance-as-microsoft-negotiates-equity-report">high-stakes</a> negotiations&nbsp;with Microsoft to revise the terms of their multibillion-dollar partnership. A key point of contention was the amount of equity Microsoft would receive in the restructured OpenAI entity in exchange for its over $13 billion investment to date.
OpenAI&#8217;s future as a for-profit company is also closely tied to its relationship with Microsoft. The company&#8217;s&nbsp;Texas <a href="https://www.benzinga.com/personal-finance/entrepreneurship/25/05/45705941/openai-secures-11-6b-for-texas-data-center-expansion-reducing-microsoft-dependence">data center</a> expansion&nbsp;was seen as a move to reduce its dependence on Microsoft&#8217;s computing resources. 
Later in June, Microsoft integrated OpenAI&#8217;s Sora model into its Bing app, bringing generative video tools to everyday users. This move came after&nbsp;Google&#8217;s <a href="https://www.benzinga.com/markets/tech/25/06/45739990/microsoft-brings-openais-sora-to-the-masses-with-free-ai-video-generator-in-bing-app-after-googles-veo-3-wowed-the-internet-heres-what-you-can-and-cant-do">Veo 3 video AI</a> made headlines, highlighting the competitive landscape of the AI industry.
OpenAI&#8217;s potential transition into a public-benefit corporation and its&nbsp;<a href="https://www.benzinga.com/25/05/45340216/openais-ipo-ambitions-hang-in-the-balance-as-microsoft-negotiates-equity-report">IPO ambitions</a>&nbsp;have been a focal point of the negotiations with Microsoft. The outcome of these discussions will shape the future of their partnership and the broader AI industry.
On a year-to-date basis, Microsoft stock surged 14.47%, according to data from <a href="http://pro.benzinga.com">Benzinga Pro. </a>
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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The U.S. Department of Homeland Security reversed guidance Monday that had paused Immigration and Customs Enforcement raids at farms, hotels and restaurants, potentially impacting labor-intensive sectors and supply chain operations critical to market stability.
What Happened: Immigration and Customs Enforcement officials told agency leaders during a Monday call that workforce site raids must continue at agricultural businesses, hotels and restaurants, the Washington Post <a href="https://www.washingtonpost.com/immigration/2025/06/16/trump-farms-hotels-immigration-raids/">reported</a>, citing sources. The reversal comes after internal guidance last week had directed agents to pause such operations.
President Donald Trump&#8216;s administration had initially directed immigration officials to largely halt raids on farms, hotels, restaurants and meatpacking plants, according to the report. The policy shift occurred as ICE operations <a href="https://www.benzinga.com/news/politics/25/06/45919950/appeals-court-allows-trump-to-keep-national-guard-in-california-for-now">averaged 2,000 daily arrests</a>, significantly exceeding the 311 daily average under former President Joe Biden.
Recent enforcement actions have targeted retail locations, including Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) stores in Westlake, Whittier and Huntington Park without prior notification.
ICE did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45966113/tesla-crashes-significantly-lower-than-national-average-chamath-palihapitiya-weighs-in-on-why-its-the-ideal-choice-for-teenage-drivers">Tesla Crashes Significantly Lower Than National Average: Chamath Palihapitiya Weighs In On Why It&#8217;s The Ideal Choice For Teenage Drivers</a>
Why It Matters: The raids target sectors including agriculture, hospitality and food processing. Trump took office in January, pledging to deport millions of immigrants in the U.S. illegally, with thousands of suspected immigration offenders with no criminal records swept up in recent months.
California Governor Gavin Newsom has opposed federal deployment of over 2,000 National Guard troops and 700 Marines to Los Angeles during immigration protests, marking the first federal National Guard activation without gubernatorial consent since 1965. 
Current enforcement operations have prompted protests across major metropolitan areas, including Los Angeles, Chicago and Seattle, with <a href="https://www.benzinga.com/news/politics/25/06/45938132/us-marines-detain-civilian-in-los-angeles-amid-immigration-protests-first-known-incident-of-its-kind-report">197 arrests reported in a single day</a> in Los Angeles. The administration has deployed 200 Marines and over 2,000 National Guard members to Los Angeles.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

ICE Raids Return To Farms, Hotels And Restaurants As DHS Reverses Course, Escalating Trump's Crackdown On Illegal Immigration: Report

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