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GCL Global Holdings Ltd is a provider of games and entertainment content based in Asia. The company unites people through games and entertainment experiences, enabling creators to deliver engaging content and fun gameplay experiences to the gaming communities across the globe, with a strategic focus on the rapidly expanding Asian gaming market. Its mission is to bridge cultures and audiences by introducing Asian-developed IP to a multinational audience across consoles, PCs and streaming platforms.

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Acciones de GCL Global Holdings (GCL) se disparan un 107%; 20 acciones que se mueven en el premercado

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A British man has been indicted in the U.S. on charges of espionage for China, as per U.S. officials. The accused, John Miller, is facing multiple charges including interstate stalking and smuggling.
What Happened: The U.S. Justice Department has charged Miller, 63, from Tunbridge Wells, Kent, with interstate stalking, conspiracy to commit interstate stalking, smuggling, and violations of the Arms Export Control Act.
The U.S. is attempting to extradite&nbsp;Miller from Serbia, along with&nbsp;his co-defendant, Cui Guanghai, 43, from China.
The duo is alleged to have solicited the procurement of U.S. defense&nbsp;articles, including missiles, air defense&nbsp;radar, drones, and cryptographic devices&nbsp;for illegal export from the U.S. to China. They reportedly discussed methods&nbsp;to export a cryptographic device&nbsp;from the U.S. to China, including hiding&nbsp;the device in a blender,&nbsp;and shipping the device initially to Hong Kong, <a href="https://www.bloomberg.com/en/news/thp/2025-06-01/british-man-charged-in-us-with-spying-for-china?srnd=homepage-americas&amp;sref=TBDibEcD">reports</a> Bloomberg. 
They are also implicated in a scheme to prevent an individual critical of China&#8217;s President Xi Jinping from protesting his appearance at the Asia Pacific Economic Cooperation (APEC) summit in November 2023. The most serious offence they are accused of &#8211; violation of the Arms Export Control Act &#8211; carries a maximum sentence of 20 years in prison.
Also Read: <a href="https://www.benzinga.com/news/23/07/33088668/us-spies-sound-alarm-on-risks-of-engaging-in-business-with-china">US Spies Sound Alarm On Risks Of Engaging In Business With China</a>
Deputy attorney general Todd Blanche&nbsp;told the outlet, &#8220;This&nbsp;is a blatant assault on&nbsp;both our national security and&nbsp;our democratic values. This Justice&nbsp;Department will not tolerate foreign&nbsp;repression on U.S.&nbsp;soil, nor will we allow&nbsp;hostile nations to infiltrate or&nbsp;exploit our defense systems.&#8221;
Why It Matters: This case underscores the ongoing tensions between the U.S. and China, particularly in the realm of cybersecurity and defense. 
The alleged involvement of a British national adds a new dimension to the geopolitical landscape, potentially straining relations between the U.S. and the U.K. 
The charges against Miller and Guanghai highlight the U.S. Justice Department&#8217;s commitment to safeguarding national security and upholding democratic values.
Read Next
<a href="https://www.benzinga.com/news/social-media/25/05/45710915/elon-musk-once-asked-why-epstein-maxwell-client-list-hasnt-leaked-heres-how-he-responded-to-x-user-who-suggested-he-was-a-client">Elon Musk Once Asked Why Epstein-Maxwell Client List Hasn&#8217;t Leaked — Here&#8217;s How He Responded to X User Who Suggested He Was a Client</a>
Image: Shutterstock/motioncenter

British Man Charged In US With Spying For China — Here's How He Allegedly Did It

Well-known investor and Shark Tank star Kevin O'Leary blasted Americans' mounting credit-card balances in a video posted Wednesday, calling it "crazy" to pay interest that now averages more than roughly 23% annually, urging viewers to wipe out their debt before it "bites you."
What Happened: The "Shark Tank" star took to all his social media platforms said he personally "owns all the credit-card companies" through market investments because cardholders' double-digit interest payments just keep coming in, making these companies and their investors richer.
"You should pay off your balance, retire all your debt and start saving … The key to life is stay out of debt," O'Leary told his followers across Facebook, X, LinkedIn and Instagram. He added that even borrowers in their 30s or 40s can build wealth quickly once interest stops leaking out: "You'd be amazed at the power of compounding interest over even a decade. It's never too late.&#8221;
<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">The reason I own all the credit card companies is I&#39;m getting paid 23% by people that have credit balances on their cards. It&#39;s crazy that you would pay interest of 23% on what you owe the credit card company. You should pay off your balance there and then retire all your debt… <a href="https://t.co/6O1rIO0pQQ">pic.twitter.com/6O1rIO0pQQ</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1927356996786786449?ref_src=twsrc%5Etfw">May 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See also: <a href="https://www.benzinga.com/25/05/45676087/why-pay-1800-instead-of-300-kevin-oleary-breaks-down-the-real-reason-apple-fans-keep-buying-and-how-you-can-copy-it">&#8216;Why Pay $1,800 Instead Of $300?&#8217; Kevin O&#8217;Leary Breaks Down The Real Reason Apple Fans Keep Buying — And How You Can Copy It</a>
What The Numbers Say:&nbsp;The median advertised credit-card APR reached 24.20 percent in May 2025, according to Investopedia data, nearly five points higher than two years prior. Forbes Advisor's broader weekly survey puts the average rate at 28.67%, close to a record high. Meanwhile, the total revolving card debt has climbed to approximately $1.2 trillion, according to Bankrate's April debt report, which cites New York Fed figures.
Why It Matters: O'Leary has long portrayed consumer debt as "<a href="https://www.benzinga.com/news/25/02/43424608/21-interest-rates-youve-got-to-be-kidding-me-kevin-oleary-slams-credit-card-debt-as-the-real-silent-killer-in-america">the silent killer</a>." In February, he <a href="https://www.benzinga.com/personal-finance/25/02/43816145/i-dont-have-any-debt-kevin-oleary-pays-for-everything-in-cash-but-a-finance-youtuber-points-out-its-easy-to-avoid-debt-when-youre-rich">told Graham Stephan&#8217;s podcast</a>, "I don't have any debt. I buy things for cash."
Kevin O'Leary isn't the only one sounding the alarm about credit cards. Fellow "Shark Tank" billionaire Mark Cuban told financial guru Dave Ramsey on "The Ramsey Show" last May, "If you use your credit cards, you do not want to be rich," urging people to <a href="https://www.benzinga.com/personal-finance/24/05/39092288/if-you-use-your-credit-card-you-do-not-want-to-be-rich-warns-mark-cuban-on-the-dave-ramsey-show">pay off all balances</a> and then burn the cards.
Photo Courtesy: Kathy Hutchins on Shutterstock.com
Read next: <a href="https://www.benzinga.com/personal-finance/25/05/45677589/it-will-have-a-chilling-effect-on-the-creation-of-new-foundations-the-gop-tax-bills-effect-on-billionaire-philanthropy">&#8216;It Will Have A Chilling Effect On The Creation Of New Foundations,&#8217; The GOP Tax Bill&#8217;s Effect On Billionaire Philanthropy</a>

Financial Advisors

Personal Finance

Kevin O'Leary Loves Credit Card Companies Because Americans Can't Stop Paying 'Crazy' 23% Interest: Mr Wonderful Has This Suggestion For The Indebted

The tariffs imposed by President Donald Trump are reportedly leading to significant price increases at&nbsp;Walmart Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and&nbsp;Target Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) stores across the U.S.
What Happened: The Walmart employees have been sharing&nbsp;images on Reddit that depict a sharp rise in prices, with some items seeing a surge of up to 45%. Similar price hikes have been noted at Target as well.
For example,&nbsp;a Jurassic World T. Rex&nbsp;toy at Walmart saw its price increase from $39.92 in late April to $55 in late May, a nearly 38% increase. The price of a Baby Born doll shot up&nbsp;from $34.97 in March to&nbsp;$49.97 in May, an approximate rise of 43%.
In addition, a left-handed fishing reel&#8217;s price jumped&nbsp;from $57.37 in April to&nbsp;$83.26 in May, a 45% increase. AisleGopher, a third-party website that monitors Walmart prices, confirmed these price hikes.
Also Read: <a href="https://www.benzinga.com/tech/25/05/45600853/trumps-apple-tariff-threat-hits-stock-hard-but-heres-why-iphones-cant-just-be-made-in-america">Trump&#8217;s Apple Tariff Threat Hits Stock Hard, But Here&#8217;s Why iPhones Can&#8217;t Just Be &#8216;Made in America&#8217;</a>
Last Thursday, Target also increased the price of the Baby Born doll to match Walmart&#8217;s increased price. However, Target CEO Brian Cornell stated that&nbsp;price increases would be a&nbsp;&#8220;very last resort&#8221;.
As per the report <a href="https://www.businessinsider.com/walmart-price-increases-items-tariffs-target-reddit-2025-5">by</a> Insider, in reaction to the tariff-induced price hikes,&nbsp;Walmart CFO John David Rainey&nbsp;warned that prices would continue to rise&nbsp;on some items in the&nbsp;coming weeks and months. President&nbsp;Trump responded by suggesting that&nbsp;Walmart should &#8220;eat the tariffs.&#8221;
Why It Matters: The price hikes at Walmart and Target are a direct result of the tariffs imposed by the Trump administration. These tariffs, aimed at protecting domestic industries, are causing a ripple effect on the retail sector, leading to increased costs for consumers. 
The situation underscores the complex interplay between trade policies and consumer prices, with retailers caught in the middle. 
As the tariff war continues, consumers and retailers alike will be closely watching the impact on prices and overall market dynamics.
Read Next
<a href="https://www.benzinga.com/markets/25/05/45484675/trumps-tariff-challenge-amid-rising-price-concerns-president-tells-walmart-to-eat-the-tariffs">Trump&#8217;s Tariff Challenge: Amid Rising Price Concerns, President Tells Walmart to &#8216;Eat the Tariffs&#8217;</a>
Image: Shutterstock/Iryna Tolmachova

US Tariff Impact: Prices Surge At Walmart And Target, Employees Say—Some Jumps Top 38%

As institutional interest in Bitcoin mining continues to surge, GoMining stands out with its deep-rooted ecosystem, robust infrastructure, and innovative approach to bridging the retail-institutional divide. At the forefront of this evolution is Jeremy Dreier, Managing Director of GoMining Institutional and Chief Business Development Officer (CBDO) at GoMining.
With over 3.5 million users and 350+ megawatts of mining power under management, GoMining has steadily grown into a powerhouse in the crypto mining space. Now, with the launch of a $100 million Bitcoin mining fund tailored for institutional investors, the company is making headlines again—this time with an eye on strategic capital deployment, efficiency, and scale.
In this exclusive conversation with Benzinga, Jeremy Dreier—whose career spans technology, capital markets, and blockchain—unpacks GoMining's institutional strategy, the dynamics behind their mining innovation Miner Wars, and what the future holds for Bitcoin mining in the U.S. and globally. Excerpt from the interaction.
What's the goal of GoMining's new $100M Bitcoin mining fund, and how's the response so far?
GoMining Institutional created the Alpha Blocks Fund to give institutions the simplest possible path to genuine, yield-generating Bitcoin exposure. Instead of buying equity in a public miner or a passive spot ETF, allocators get pro-rata ownership of live hashrate that we actively compound: every satoshi the fleet earns is redeployed into newer, more efficient data centers, so the underlying BTC stream grows block after block.&nbsp;
The vehicle is fully custodied by BitGo and is powered by the infrastructure with a total hashrate of 7.8+ million TH/s. Since our April launch, we've secured early soft commitments from institutional investors and are now preparing to onboard initial LPs. Capital deployment into next-generation data centers is set to begin shortly, laying the groundwork for stable, yield-generating performance from day one.
How is institutional capital changing the dynamics of Bitcoin mining?
A decade ago, mining rigs were whirring away in basements; today, the same activity sits on Fortune 500 balance sheets and is discussed on quarterly earnings calls. Bitcoin ETFs pried the door open, but once inside, allocators realised the real engine of value was the machinery behind the ticker, not just the ticker itself.
Those allocators arrive with infrastructure-sized expectations, they want yield that compounds, transparency they can audit, and governance frameworks their boards already understand. That has forced miners to professionalise everything from custody to ESG reporting while exposing the limits of the "grow-at-all-costs" playbook that plagued early public miners whose quick scale often came with dilution, leverage, and energy-price whiplash. As a result, many institutions now bypass listed equities and instead back managed funds or white-label strategies that deliver block-reward economics without the operational drag.<a href="https://docs.google.com/presentation/d/1gKVhbZ92aFX5A8KFb-Y0RmvyA14sgJAn/htmlpresent">&nbsp;</a>
The influx of deep pockets is also financialising the hashrate itself. What began with equity stakes has expanded into ASIC-backed debt, hashprice options, structured notes linked to network difficulty, and LP funds that treat hashrate as a yield-bearing commodity. That toolkit lets investors tune exposure to Bitcoin issuance, transaction-fee upside, or even grid-balancing revenues, and it's breaking the old one-to-one correlation between mining fortunes and spot BTC.&nbsp;
It's no coincidence that the U.S.-based pools now command more than 40 percent of global hashrate, and trade volumes are emerging for hashrate futures on major venues – the capital is demanding instruments that look and settle like any other real-asset derivative.
3. What shifts have you seen in institutional attitudes toward Bitcoin over the last two years? Institutions are looking for infrastructure-related strategies because they want the economics of blockchain rewards, not just price exposure in the form of BTC on the balance sheet. They also want custody, governance, and transparency – features that are in line with what they expect from traditional investments in real assets or credit.
In 2023, most CIOs still asked whether Bitcoin would be regulated out of existence. The launch of U.S. spot ETFs, the MiCA framework in Europe, and political tailwinds in Washington changed that conversation from "if" to "how much." A Coinbase-EY survey in January found 76% of institutions plan to increase allocations in 2025, with nearly 60% targeting more than 5% of AUM. The Bitwise/VettaFi adviser poll shows crypto allocations in client accounts doubling year-on-year to an all-time high.
 4. How does GoMining Institutional's white-label model work for allocators?
Think of it as "mining-as-a-service." An allocator can brand a feeder vehicle, set its own fee stack, and rely on our global hashrate power of 7.8+ million TH/s, compliance, treasury, and reporting. All this comes with 99% continuous uptime, which is a really high benchmark for a fine-tuned data center operation. We handle power procurement, equipment refresh, SOC-2 reporting, and annual audits; they handle distribution to their LPs. Because we already run 350 MW across four continents, adding another 10 MW for a partner is accretive to everyone's power curve. The result is turnkey exposure to clean, provably sourced Bitcoin that fits neatly into an alternative sleeve.
 5. How does Miner Wars blend gaming with real BTC mining, and why does that matter
Miner Wars is not "play-to-earn": it's "play-the-hashrate." Every NFT inside the game represents actual terahash running in our data centers. When clans solve in-game "blocks," they're competing for a prize pool funded by the real BTC those rigs earn. We now have an average of 71,222+ monthly players within Miner Wars and have paid out over 200 BTC since launch. That matters because it onboards a demographic that would never buy a miner or read an ASIC spec sheet, yet it still drives utilization for the underlying equipment. In other words, the game is a distribution funnel that keeps the hardware sweating 24/7.
6. What's the current state of Bitcoin mining in the U.S. and globally post-halving?
The halving cut rewards to 3.125 BTC per block, so inefficient fleets were brutalized, but the winners are thriving. Hash-rate hit new highs as modern rigs at 14 J/TH came online, and public miners produced nearly $800 million worth of BTC in Q1 2025 alone. Many U.S. operators are stockpiling coins instead of paying selling, betting on price appreciation and the emerging federal Strategic Bitcoin Reserve policy.&nbsp;
Globally, we see expansion into Paraguay and Oman, where stranded renewables and flare gas keep opex below $0.05/kWh.&nbsp;
The key metric of this cycle isn't sheer hashrate, but energy efficiency per delivered terahash, and the spread between top-quintile and bottom-quintile operations is the widest I've ever seen. Bitdeer's February report nails how equipment cost per TH has fallen to $16 even as power prices diverge.
7. What trends will shape the future of institutional Bitcoin mining — tech, energy, or something else?
All of the above, but the connective tissue is flexibility. On the technology front, 3-nanometer ASICs will arrive alongside immersion and hydro-cooling systems that push efficiency below 16 J/TH, enabling high-density data centers that can moonlight as AI inference farms during fee lulls.&nbsp;
On the energy side, flare-gas mitigation and behind-the-meter renewables give miners a seat at climate strategy tables; oil majors are already piloting modular gensets that turn 148 billion cubic meters of wasted gas into low-cost electricity, and allocators love the methane-abatement angle. But the fact still stands: even with new sources, the main factor in the energy market is the cost of energy itself.&nbsp;&nbsp; Finally, capital markets themselves are evolving: as more governments stockpile mined coins, miners become quasi-sovereign infrastructure providers, opening doors to green bonds and export-credit insurance that didn't exist a year ago. The winners will be operators who can toggle between Bitcoin blocks, AI jobs, and grid-balancing services without shutting down a single container.&nbsp;

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

Cryptocurrency

Interview

'Miner Wars Is Not Play-To-Earn, It's Play-The-Hashrate,' Says GoMining's Jeremy Dreier

If you&#8217;re feeling unsure about the <a href="https://www.benzinga.com/topic/housing-market">housing market right now</a>, you&#8217;re not alone. Between high prices, rising interest rates, and economic uncertainty, many people are wondering whether now is the right time to buy a home. And while some are holding off, plenty of prospective buyers are using this time to prepare — saving more, <a href="https://www.benzinga.com/money/how-to-pay-off-debt">paying down debt</a>, and watching the market closely.
A new <a href="https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/05/bofa-report--60--of-homeowners-and-prospective-buyers-uncertain-.html">report</a> from Bank of America confirms this mixed sentiment. The 2025 Homebuyer Insights Report found that 60% of current homeowners and prospective buyers say they're not sure if it's a good time to buy — the highest level of uncertainty in three years. That's up from 48% in 2023. Despite this, more than half (52%) of potential buyers feel the market has improved since last year, and 75% say they're waiting for prices and interest rates to come down before making a move.
In the meantime, many are taking practical steps. Over half of those delaying a purchase are continuing to <a href="https://www.benzinga.com/general/education/20/10/18035279/how-to-save-for-a-down-payment">save for a down payment</a>. Others are using the time to pay off debt or invest their money while they wait.
Younger generations, particularly Gen Z and Millennials, are finding creative ways to move closer to homeownership. In 2025, 30% of Gen Z homeowners said they took on an extra job to afford their down payment, and 22% bought their home with a sibling — a notable increase from previous years. Family support is also playing a bigger role, with more young buyers planning to rely on loans from relatives.
Another factor on buyers' minds? Severe weather. The report found that 62% of homeowners and prospective buyers are concerned about natural disasters, and many are adjusting their home search to avoid high-risk areas.
Overall, the housing market remains uncertain — but many buyers are staying optimistic and taking steps to be ready when the time feels right.
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Photo: Shutterstock

Real Estate

75% Of Homebuyers Are Waiting For Lower Rates, Report Finds

REX Financial and Osprey Funds&#8217; plans to launch US crypto ETFs offering staking rewards have encountered regulatory challenges, even after an initial nod from the Securities and Exchange Commission (SEC).
What Happened: The proposed ETFs, designed to track Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), are facing scrutiny from US regulators. 
The regulators are questioning if these ETFs fulfill the legal criteria of ETFs under federal securities law. The&nbsp;SEC expressed its concerns in a letter to ETF Opportunities Trust, the legal entity issuing the ETFs, on Friday.
The SEC pointed out potential problems with the funds&#8217; registration statement and suggested that the ETFs&#8217; status as investment companies could be misleading.&nbsp;Greg Collett, general counsel at&nbsp;REX Financial, responded, &#8220;We&nbsp;think we can satisfy the&nbsp;SEC on the investment company&nbsp;question, and we don&#8217;t&nbsp;intend to launch the funds&nbsp;until we do that.&#8221;
SEC Commissioner&nbsp;Caroline Crenshaw&nbsp;criticized the agency&#8217;s inconsistent approach to crypto regulation. She raised questions about how crypto assets could be considered non-securities for registration purposes, but be classified as securities when launching a new product, <a href="https://www.bloomberg.com/news/articles/2025-05-31/us-regulators-say-two-crypto-vehicles-may-not-qualify-as-etfs?srnd=homepage-americas&amp;sref=TBDibEcD">reports </a>Bloomberg. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45602645/crypto-mogul-justin-sun-dines-with-trump-then-flexes-100k-watch-whats-the-deal">Crypto Mogul Justin Sun Dines With Trump, Then Flexes $100K Watch — What&#8217;s The Deal?</a>
This incident marks&nbsp;the second time in recent&nbsp;months that the SEC has&nbsp;publicly questioned&nbsp;a listed fund investing in&nbsp;alternative asset classes. Despite the regulatory uncertainty, REX Financial remains hopeful about launching the ETFs by mid-June.
Why It Matters: The SEC&#8217;s scrutiny of these proposed crypto ETFs underscores the regulatory challenges facing the crypto industry. 
The inconsistent approach to crypto regulation, as highlighted by Commissioner Crenshaw, further complicates the situation. 
The outcome of this regulatory review could have significant implications for the future of crypto ETFs in the US, potentially influencing the pace and direction of innovation in this emerging asset class. 
Despite these challenges, the optimism shown by REX Financial indicates the industry&#8217;s resilience and its commitment to navigating the complex regulatory landscape.
Read Next
<a href="https://www.benzinga.com/markets/25/05/45509537/bitcoin-skyrockets-past-105-000-mark-triggers-250-billion-crypto-market-rally">Bitcoin Skyrockets Past $105,000 Mark, Triggers $250 Billion Crypto Market Rally</a>
Image: Shutterstock/Tada Images

$ETH

$SOL

SEC Raises Red Flags Over Crypto ETFs Offering Staking Rewards

Artificial intelligence is moving fast, and according to researchers from Anthropic, an AI startup backed by Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos, it's about to upend white collar work around the world.&nbsp;
In a recent discussion on Dwarkesh Patel&#8217;s <a href="https://www.youtube.com/watch?v=64lXQP6cs5M">podcast</a>, Anthropic researchers Sholto Douglas and Trenton Bricken explored what they see as an almost inevitable future: widespread automation of desk jobs.
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<h2 class="wp-block-heading">Prepare For A World Where AI Replaces Office Work</h2>
Douglas said the transition may happen sooner than many expect. &#8220;There is this whole spectrum of crazy futures. But the one that I feel we&#8217;re almost guaranteed to get—this is a strong statement to make—is one where, at the very least, you get a <a href="https://www.benzinga.com/personal-finance/24/11/42166517/six-figure-job-market-faces-white-collar-recession-as-linkedin-reports-26-drop-in-engineering-roles">drop in white collar workers</a> at some point in the next five years,&#8221; he said. &#8220;I think it&#8217;s very likely in two, but it seems almost overdetermined in five.&#8221;
Bricken agreed, saying, &#8220;We should expect to see them automated within the next five years.&#8221; That kind of shift, Douglas added, &#8220;completely changes the world over the next decade.&#8221;
Even if progress in training algorithms slows down, the models that already exist are good enough to perform many white collar tasks, especially if they&#8217;re fed the right data. &#8220;Even if algorithmic progress stalls out, and we just never figure out how to keep progress going&#8230; the current suite of algorithms are sufficient to automate white collar work, provided you have enough of the right kinds of data,&#8221; Douglas said.
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
They argued that it&#8217;s financially justifiable to automate office tasks, even if it means you need to &#8220;hand spoon&#8221; every single task to the model. The economic impact of automating or drastically reducing white collar jobs, they said, could be massive. And countries that don't prepare could be left behind.
<h2 class="wp-block-heading">Nations Need To Start Planning Now</h2>
Douglas summed it up this way: &#8220;Plan for the case where white collar work is automatable. And then consider, what does that mean for your economy? What should you be doing to prepare policy?&#8221;
Douglas warned that countries without highly advanced, large-scale AI models, also called &#8220;frontier models&#8221;—such as India, Nigeria or Australia—will have tough decisions to make. He advised governments to start <a href="https://www.benzinga.com/markets/equities/25/05/45599854/oracle-to-spend-40-billion-on-nvidia-gb200-chips-for-openais-texas-data-center-report">investing in compute infrastructure</a>, AI companies, and the broader tech ecosystem. &#8220;Compute becomes the most valuable resource in the world,&#8221; he said. &#8220;The GDP of your economy is dramatically affected by how much compute you can deploy.&#8221;
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
<h2 class="wp-block-heading">Automation May Hit Desk Jobs First, Not Physical Labor</h2>
While robots still struggle with physical tasks like opening doors, AI is already capable of coding and performing many computer-based jobs. That could result in a strange future where machines do the thinking and humans handle the physical labor.
&#8220;The really scary future is one in which AIs can do everything except for the physical robotic tasks,&#8221; Bricken said. &#8220;In which case, you&#8217;ll have humans with AirPods, and glasses and there&#8217;ll be some robot overlord controlling the human through cameras by just telling it what to do.&#8221;
Douglas pointed out that this transitional phase could be a &#8220;pretty terrible decade.&#8221; If jobs are lost but scientific breakthroughs and <a href="https://www.benzinga.com/media/25/03/44508019/tesla-and-other-us-robotics-giants-demand-federal-strategy-to-compete-with-chinas-138-billion-push-warn-america-will-lose-the-race-without-it">robotic deployment lag behind</a>, then improvements in daily life may stall. He said the result could be a period where people's main value is their ability to do physical tasks that AI cannot yet handle. People&#8217;s main comparative advantage in that case would be as &#8220;fantastic robots.&#8221; &#8220;That's a shocking, shocking world,&#8221; he said.
Read Next:
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<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>
Image: Shutterstock

AMZN

Anthropic Researchers Warn Of A 'Pretty Terrible Decade' Where AI Outpaces Robotics And People's Main Benefit Is They're 'Fantastic Robots'

In a move that could escalate trade tensions with the U.S., Germany is reportedly contemplating imposing a 10% tax on major online platforms, including&nbsp;Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/25/05/45689009/germany-considers-10-digital-tax-on-tech-titans-alphabet-and-meta-report" rel="noreferrer noopener">and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/05/45689009/germany-considers-10-digital-tax-on-tech-titans-alphabet-and-meta-report" rel="noreferrer noopener">Meta Platforms Inc. </a><a target="_blank" href="https://www.benzinga.com/25/05/45689009/germany-considers-10-digital-tax-on-tech-titans-alphabet-and-meta-report" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</a>.&nbsp;
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) isn&#8217;t a company usually associated with national security, but it is in the crosshairs of President&nbsp;Donald Trump, now an expert has <a target="_blank" href="https://www.benzinga.com/markets/25/05/45603673/trumps-targeting-of-apple-isnt-random-analyst-says-its-a-calculated-move-for-maximum-political-gain" rel="noreferrer noopener">given his take on the situation</a>.
Entertainment
JioHotstar, the newly merged streaming platform from&nbsp;Walt Disney Co.&nbsp;and&nbsp;Mukesh Ambani&#8217;s Reliance, has added 230 million subscribers in just three months, bringing its total to 280 million, nearly matching&nbsp;Netflix Inc.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a target="_blank" href="https://www.benzinga.com/25/05/45604822/disney-and-ambanis-jiohotstar-adds-230-million-subscribers-in-3-months-nears-netflixs-global-total-driven-by-crickets-unmatched-pull-in-india" rel="noreferrer noopener">300 million global users</a>.
Technology
Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO&nbsp;Jensen Huang's&nbsp;rejection of&nbsp;PowerPoint&nbsp;presentations isn&#8217;t a quirky habit—it&#8217;s part of a broader trend among some of the most successful tech leaders who believe slide <a target="_blank" href="https://www.benzinga.com/media/25/05/45614590/jensen-huang-isnt-a-powerpoint-fan-neither-are-jeff-bezos-and-elon-musk-why-slide-decks-dont-cut-it-for-todays-tech-leaders" rel="noreferrer noopener">decks are a barrier to real thinking</a>.
Nvidia CEO&nbsp;Jensen Huang&nbsp;said that he believes&nbsp;Tesla&#8217;s&nbsp;Optimus&nbsp;humanoid robot&nbsp;could be the first to reach mass adoption and trigger <a target="_blank" href="https://www.benzinga.com/media/25/05/45664231/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo-jensen-huang-likely-to-be-the-next-multi-trillion-dollar-industry" rel="noreferrer noopener">a multi-trillion-dollar industry</a>.
Alphabet&#8217;s&nbsp;CEO&nbsp;Sundar Pichai&nbsp;has firmly rejected the notion that anyone at&nbsp;Google&nbsp;can manually alter search rankings, even in response to <a target="_blank" href="https://www.benzinga.com/media/25/05/45635747/sundar-pichai-says-no-one-at-google-can-change-trumps-search-ranking-not-even-him" rel="noreferrer noopener">President&nbsp;</a><a target="_blank" href="https://www.benzinga.com/media/25/05/45635747/sundar-pichai-says-no-one-at-google-can-change-trumps-search-ranking-not-even-him" rel="noreferrer noopener">Donald Trump&#8217;s</a><a target="_blank" href="https://www.benzinga.com/media/25/05/45635747/sundar-pichai-says-no-one-at-google-can-change-trumps-search-ranking-not-even-him" rel="noreferrer noopener">&nbsp;complaints</a>.
Years after&nbsp;a controversial split,&nbsp;Mark Zuckerberg&#8217;s Meta Platforms&nbsp;and&nbsp;Palmer Luckey&nbsp;are teaming up again—this time to equip U.S. soldiers <a target="_blank" href="https://www.benzinga.com/media/25/05/45687185/mark-zuckerbergs-meta-reunites-with-palmer-luckey-to-equip-us-soldiers-with-eagleeye-an-ai-powered-combat-headset-that-can-detect-drones" rel="noreferrer noopener">with next-gen combat headsets</a>.
Smartphones
Apple CEO&nbsp;Tim Cook has found himself at the receiving end of President&nbsp;Donald Trump‘s criticism, marking a stark contrast to their previously warm relationship, but reports suggest iPhone production in <a target="_blank" href="https://www.benzinga.com/25/05/45612848/trumps-recent-wrath-on-apple-ceo-tim-cook-is-also-tied-to-the-middle-east-not-just-india-report" rel="noreferrer noopener">India is not the only reason</a>.
A fresh wave of tariff threats is hanging over&nbsp;Apple, but JPMorgan&#8217;s Samik Chatterjee isn&#8217;t downgrading Apple stock. In fact, he&#8217;s sticking to an Overweight rating, calling&nbsp;the company &#8220;well positioned&#8221;&nbsp;t<a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/25/05/45608580/apple-may-hike-iphone-price-but-well-positioned-to-eat-tariff-bite-says-analyst" rel="noreferrer noopener">o weather the cost shock</a>.
Apple&nbsp;supplier&nbsp;Foxconn&nbsp;is set to announce a partnership with a second Japanese auto manufacturer as the Taiwanese <a target="_blank" href="https://www.benzinga.com/25/05/45667851/apple-supplier-foxconn-set-to-announce-second-japanese-auto-partner-as-it-turns-to-evs" rel="noreferrer noopener">manufacturer turns towards EVs</a>.
A new leak from a&nbsp;Weibo&nbsp;tipster,&nbsp;Digital Chat Station, suggests that&nbsp;Apple is working on a significant camera upgrade for a future&nbsp;iPhone&nbsp;model — <a target="_blank" href="https://www.benzinga.com/25/05/45637477/iphone-camera-could-get-its-biggest-upgrade-yet-with-200mp-sensor-leak-suggests-will-apple-finally-catch-up-to-samsung" rel="noreferrer noopener">a 200-megapixel sensor</a>.
Apple is reportedly preparing to rebrand its software platforms by introducing <a target="_blank" href="https://www.benzinga.com/25/05/45661713/apple-to-rename-all-operating-systems-for-2026-ios-macos-ipados-get-year-based-overhaul-and-fresh-look" rel="noreferrer noopener">a year-based naming system</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45638355/headline-apples-former-design-chief-jony-ive-called-phones-and-laptops-legacy-platforms-google-ceo-sundar-pichai-said-pulling-out-a-black-glass-rectangle-wont-make-sense-forever-though-new-age-devices-havent-really-taken-off-yet" rel="noreferrer noopener">Apple&#8217;s Former Design Chief Jony Ive Called Phones And Laptops &#8216;Legacy Platforms:&#8217; Sundar Pichai Says Pulling Out A &#8216;Black Glass Display Rectangle&#8217; Won&#8217;t Make Sense Forever</a>
Automobiles/Spacecraft
Regulators from China&#8217;s commerce ministry are set to meet with executives from several Chinese automakers, including EV giant&nbsp;BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), to discuss the<a target="_blank" href="https://www.benzinga.com/markets/asia/25/05/45611701/chinese-regulators-will-meet-tesla-rival-byd-other-companies-to-discuss-zero-mile-used-cars-report" rel="noreferrer noopener"> surge in zero-mile used car sales</a>.
One of the major dealers of Chinese EV giant&nbsp;BYD has reportedly shut down its operations across multiple cities in China as the company <a target="_blank" href="https://www.benzinga.com/25/05/45666513/a-major-byd-dealer-in-china-shut-down-its-operations-as-ev-giant-expands-into-europe-report" rel="noreferrer noopener">expands into the European market</a>.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO&nbsp;Elon Musk&nbsp;said that the company&#8217;s Starship rocket, a crucial element in the billionaire&#8217;s plans to set up a colony on Mars, can <a target="_blank" href="https://www.benzinga.com/25/05/45612033/elon-musk-touts-spacexs-starship-rocket-ahead-of-launch-says-it-can-reach-mars-in-six-months" rel="noreferrer noopener">reach the red planet in 6 months</a>.
Elon Musk&#8216;s EV giant recorded over 11,000 new insured registrations in the Chinese market for the week ending May 25, according to a post on social media platform X on Tuesday by&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45614051/tesla-bull-gary-black-weighs-in-as-elon-musks-ev-giant-logs-over-11000-new-registrations-for-straight-second-week" rel="noreferrer noopener">Future Fund LLC</a><a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45614051/tesla-bull-gary-black-weighs-in-as-elon-musks-ev-giant-logs-over-11000-new-registrations-for-straight-second-week" rel="noreferrer noopener">&#8216;s&nbsp;</a><a target="_blank" href="https://www.benzinga.com/markets/equities/25/05/45614051/tesla-bull-gary-black-weighs-in-as-elon-musks-ev-giant-logs-over-11000-new-registrations-for-straight-second-week" rel="noreferrer noopener">Gary Black</a>.
Tesla sales fell 49% YoY in Europe for April as&nbsp;Elon Musk&#8216;s EV giant continues to <a target="_blank" href="https://www.benzinga.com/markets/eurozone/25/05/45616006/teslas-european-woes-see-no-end-april-sales-crash-49-as-rivals-race-ahead-in-ev-market" rel="noreferrer noopener">grapple with global challenges</a>.
Tesla rival&nbsp;Li Auto Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) will release two new SUVs this year and could also release the company&#8217;s first-ever sedan, provided the <a target="_blank" href="https://www.benzinga.com/markets/asia/25/05/45691082/tesla-rival-li-auto-will-release-2-new-suvs-this-year-ceo-li-xiang-hints-at-companys-first-sedan" rel="noreferrer noopener">market conditions are favorable</a>.
Tesla will launch its Robotaxi service in Austin on June 12, with CEO&nbsp;Elon Musk&nbsp;confirming that the company is <a target="_blank" href="https://www.benzinga.com/tech/25/05/45662671/tesla-targets-june-12-for-robotaxi-launch-in-austin-elon-musk-says-company-ramped-up-fsd-testing-a-month-ahead-of-schedule" rel="noreferrer noopener">currently testing the Model Y</a>.
Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO&nbsp;RJ Scaringe&nbsp;has shared a sneak peek of the upcoming Rivian R2&#8217;s rear suspension, <a target="_blank" href="https://www.benzinga.com/25/05/45642153/rivian-ceo-rj-scaringe-touts-45000-rivian-r2s-updated-rear-suspension-cant-wait-for-folks" rel="noreferrer noopener">ahead of the planned 2026 launch</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45617151/ubs-maintains-neutral-rating-for-rivian-stock-sets-price-13-price-target" rel="noreferrer noopener">Rivian Stock Above $15, But UBS Sees Fair Value At $13 Amid Affordability Concerns</a>
Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), the parent company of brands like&nbsp;Dodge&nbsp;and&nbsp;Jeep, has appointed&nbsp;Antonio Filosa&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/eurozone/25/05/45638939/stellantis-names-antonio-filosa-ceo-amid-uncertainty-over-trumps-50-eu-tariff-threat" rel="noreferrer noopener">as the new chief executive officer</a>.
General Motors Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) will invest $888 million in its Tonawanda Propulsion facility, where the company manufactures V-8 engines that power its <a target="_blank" href="https://www.benzinga.com/tech/25/05/45640639/general-motors-to-invest-888-million-in-ny-v-8-engine-plant-despite-surge-in-ev-market-share" rel="noreferrer noopener">SUVs and Full-Size Trucks</a>.
Artificial Intelligence
Some news headlines and social media chatter have stirred excitement—and confusion—over whether all UAE residents now get free access to&nbsp;ChatGPT Plus&nbsp;<a target="_blank" href="https://www.benzinga.com/news/global/25/05/45612410/fact-check-no-openais-chatgpt-plus-isnt-free-for-all-uae-residents" rel="noreferrer noopener">as part of</a><a target="_blank" href="https://www.benzinga.com/news/global/25/05/45612410/fact-check-no-openais-chatgpt-plus-isnt-free-for-all-uae-residents" rel="noreferrer noopener">&nbsp;OpenAI&#8217;s</a><a target="_blank" href="https://www.benzinga.com/news/global/25/05/45612410/fact-check-no-openais-chatgpt-plus-isnt-free-for-all-uae-residents" rel="noreferrer noopener">&nbsp;latest expansion</a>.
On Wednesday, the legal battle between&nbsp;OpenAI&nbsp;and&nbsp;Elon Musk&nbsp;escalated as the&nbsp;ChatGPT&nbsp;maker urged a judge to allow its countersuit to proceed, accusing the billionaire of <a target="_blank" href="https://www.benzinga.com/25/05/45686378/openai-fights-to-keep-countersuit-alive-against-elon-musk-over-profit-shift-calls-his-974-billion-bid-a-media-stunt" rel="noreferrer noopener">fraud and media manipulation</a>.
Chinese AI startup&nbsp;DeepSeek, which triggered a&nbsp;$600 billion drop&nbsp;in&nbsp;Nvidia Corporation&#8217;s&nbsp;market value with the release of its&nbsp;R1&nbsp;model in January, has quietly launched an updated version <a target="_blank" href="https://www.benzinga.com/media/25/05/45662927/chinas-deepseek-quietly-drops-r1-ai-update-that-nearly-matches-openai-o4-mini-and-beats-elon-musks-grok-3-mini" rel="noreferrer noopener">of its reasoning model</a>.
Kevin O&#8217;Leary&nbsp;is on a mission to make AI fluency essential for business leaders—and he&#8217;s hiring <a target="_blank" href="https://www.benzinga.com/25/05/45663361/kevin-oleary-wants-to-teach-every-ceo-how-to-use-aiand-hes-hiring-people-to-do-it-calling-it-a-lifetime-career-opportunity" rel="noreferrer noopener">trainers to make it happen</a>.
Image: Shutterstock/JHVEPhoto

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BYDDF

GOOG

NFLX

NVDA

RIVN

STLA

TSLA

Consumer Tech News (May 26-May 30): Germany May Impose 10% Online Platform Tax, Tesla's European Sales Slump & More

Former Alphabet Inc. CEO Eric Schmidt told an audience at Miami Beach's Faena Forum that worries about employee push-back on artificial-intelligence roll-outs are overblown because AI will &#8220;solve the problems that humans ask for.&#8221;
What Happened: Schmidt was responding to a Ph.D. researcher who mentioned that 75% of digital-transformation projects stall when workers resist new tools. Schmidt argued that today's high failure rate for corporate tech projects reflects buggy "poor-quality" software and not human resistance.
He predicted that the next wave of generative AI systems, trained on hard business goals such as customer satisfaction and profits, will fix that.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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See also: <a href="https://www.benzinga.com/tech/25/05/45661246/warren-buffett-loves-sees-candies-but-even-he-cant-get-the-brand-to-succeed-nationwide-heres-why">Warren Buffett Has Discovered There&#8217;s No Accounting For Tastes Through Berkshire&#8217;s Candy Company: &#8216;There Are All Kinds Of Crazy Things In The World That Consumers Do&#8217;</a>
He urged the questioner to test the hypothesis in his dissertation: "Can you imagine a situation where the software works right?" If AI models are tuned to clear, quantifiable objectives, Schmidt said, businesses will finally get tech that does precisely what it promises.
McKinsey, BCG and Forbes studies put the share of digital initiatives that miss their goals at roughly 80%. Employee acceptance is the Achilles' heel. One 2024 survey by RiseNow found 75–95% fail because staff won't use the new tools.
Why It Matters: Schmidt's Miami remarks expand on his more recent <a href="https://www.ted.com/talks/eric_schmidt_the_ai_revolution_is_underhyped?language=en">warning</a> at TED 2025 that workers who ignore AI "won't be relevant" and his estimate that agentic AI could lift productivity by 30% a year — a surge he explains "economists have no models for."
He also cautioned that AI will <a href="https://www.benzinga.com/25/05/45604065/former-google-boss-eric-schmidt-says-ai-will-only-exacerbate-the-blurred-lines-between-online-perception-and-reality">deepen confusion</a> between online and offline realities, echoing comments he made in the same Faena Forum session about blurred perception.
As far as predictions go, the former Google boss has a knack for getting his tech predictions for the near future right. Schmidt, in 2016, <a href="https://www.benzinga.com/25/05/45379222/former-google-ceo-eric-schmidt-in-2016-outlined-a-playbook-predicting-chatgpts-rise-and-a-new-age-of-100-billion-ai-giants">rightly predicted the playbook</a> for a company like OpenAI to rise to the fore soon. Before that, he&#8217;d similarly predicted the rise of service-based apps like Uber.
It is worth mentioning that Alphabet has earned a growth score of 88.56% according to&nbsp;Benzinga Edge Stock&nbsp;Rankings.&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Click here to compare it with other companies</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="726" height="98" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29104100/goog-edge.png" alt="" class="wp-image-931735" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29104100/goog-edge.png 726w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/29104100/goog-edge-300x40.png 300w" sizes="(max-width: 726px) 100vw, 726px" /></a></figure>
Photo Courtesy: Frederic Legrand &#8211; COMEO on Shutterstock.com
Read next: <a href="https://www.benzinga.com/25/05/45661076/peter-schiff-challenges-jd-vances-bitcoins-safe-haven-assertion-urges-him-to-implement-policies-that-reduce-the-need-to-hedge">JD Vance Said Bitcoin Created Wealth, Peter Schiff Says It Did No Such Thing: &#8216;What Has Happened Is A Massive Transfer Of …&#8217;</a>

Tech

Eric Schmidt Says AI Won't Face Roadblocks Most New Tech Encounter, Ex-Google CEO Explains Why

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has experienced a turbulent year, with its stock value decreasing by 20% since the start of the year. Despite this, some market experts are suggesting that this could be an ideal chance for long-term investors to purchase shares at a lower price.
What Happened: Apple&#8217;s stock performance has been the poorest among the Magnificent Seven stocks in 2025. The tech behemoth&#8217;s downturn is linked to external factors such as the ongoing trade war and tariff uncertainties.
Senior equity strategist at CFRA Research, Angelo Zino, <a href="https://www.businessinsider.com/apple-stock-price-outlook-aapl-mag-7-buy-the-dip-2025-5">told</a> Insider that Apple&#8217;s extensive manufacturing presence in China makes it susceptible to tariff-related impacts. However, he perceives the stock&#8217;s drop as a potential investment opportunity, considering the company&#8217;s robust pricing and brand reputation.
James Demmert, Chief Investment Officer at Main Street Research, shares this view, stating,&nbsp;&#8220;We think all of the&nbsp;bad news is in the&nbsp;current price of shares.&#8221;
Also Read: <a href="https://www.benzinga.com/tech/25/05/45338324/apples-2027-vision-foldable-iphones-smart-glasses-and-ai-innovations">Apple&#8217;s 2027 Vision: Foldable iPhones, Smart Glasses, And AI Innovations</a>
Despite the persisting trade war and regulatory challenges in China, both Goldman Sachs and UBS have shown confidence in Apple&#8217;s future. Goldman Sachs continues to hold&nbsp;a &#8220;buy&#8221; rating for the&nbsp;stock with&nbsp;a 12-month price target of&nbsp;$253, while UBS maintains a &#8220;neutral&#8221; rating and a $210 price target.
However, not all analysts are as optimistic. James Cakmak, Chief Investment Officer at Clockwise Capital, disclosed that the firm has withdrawn&nbsp;its position in Apple stock, citing tariff risks as the primary reason.
Why It Matters: The fluctuating performance of Apple&#8217;s stock and the differing opinions of market experts highlight the dynamic nature of the stock market. 
While some see the dip as a potential investment opportunity, others are more cautious due to external factors such as tariff risks. 
This situation underscores the importance of careful analysis and strategic decision-making for investors in the ever-changing market landscape.
Read Next
<a href="https://www.benzinga.com/tech/25/04/45029758/apples-ai-team-undergoes-major-restructuring-amidst-performance-concerns" target="_blank" rel="noreferrer noopener">Apple's AI Team Undergoes Major Restructuring Amidst Performance Concerns</a>
Image: Shutterstock/Prathmesh T

Apple Stock Lags Behind Peers — Here's What Wall Street Says About the Dip

It's not every day someone casually accuses a former Speaker of the House of defying both math and mortality — but then again, <a href="https://www.benzinga.com/25/05/45516211/grant-cardones-two-most-hated-on-opinions-most-people-should-not-go-to-college-and-a-house-is-a-terrible-investment">Grant Cardone isn't known for pulling punches</a>.
In an <a href="https://youtu.be/-N5ivvV2_Cc?si=rfI64j7wJVC4NikL">interview last year with DJ Vlad</a>, Cardone took aim at Nancy Pelosi's reported wealth, questioning how a public servant making $179,000 a year could be worth $120 million. "You can't do the math on it," he said flatly. "She would have to be 33,000 years old or something." After revising, he settled on a more "reasonable" estimate: "She would have to be on Earth 3,300 years," he said, in order to turn her salary into the fortune she's reported to have.
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Cardone didn't stop there. Factoring in taxes and cost of living, he added, "She's probably paying 50% in taxes… So she's making $89,000 a year, bro. She's worth $120 million minimum. She would have to be 1,500 years old if she never spent one penny."
The math may have been delivered with a smirk, but the underlying message wasn't a joke: "If you make $179,000 a year, you will never be a millionaire — much less worth $120 million." He went on to call out both parties for profiting off insider knowledge, saying, "There's a whole bunch of them… Republicans and Democrats."
His proposed solution? Cut Congressional salaries to the median American wage and ban trading altogether: "If you're in Congress or Senate… you cannot insider trade. Period. In fact, you cannot trade at all."
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.
At the time of the interview, Pelosi's net worth was estimated around $120 million — but today, it's significantly higher. As of early 2025, Pelosi's net worth is estimated to be between $246.8 million and $259 million, <a href="https://www.quiverquant.com/congresstrading/politician/Nancy%20Pelosi-P000197/net-worth">according to Quiver Quantitative</a>. That's more than double what Cardone was reacting to just a year ago.
Much of the wealth is tied to savvy and controversial investments in tech stocks and real estate, largely managed by her husband, Paul Pelosi. While there's no direct evidence of insider trading, public skepticism has remained high — and the numbers haven't exactly helped.
Cardone may have been using hyperbole when he joked that Pelosi would need to be 3,300 years old to earn her wealth. But if the <a href="https://www.benzinga.com/money/are-you-rich">trajectory of her portfolio</a> is any indication, she's aging just fine — and so is her net worth.
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Image: Shutterstock

Grant Cardone Says Nancy Pelosi's $120 Million Net Worth Defies Life And Math — 'She'd Need To Be 33,000 Years Old' On A $179,000 Salary

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol class="wp-block-list">
<li>United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) shares jumped 25.45%. Japan&#8217;s Nippon Steel is set to finalize its acquisition of the company at $55 per share, according to <a href="https://www.benzinga.com//node/45622810" target="_blank" rel="noreferrer noopener">sources familiar with the matter</a>.</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) shares escalated 19.30% after Jefferies analyst Brent Thill upgraded the company from Hold to Buy and raised <a href="https://www.benzinga.com/quote/u/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast from $22 to $29</a>.</li>
<li>Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) shares rose 18.75% after multiple analysts raised their price forecasts on the stock. The company <a href="https://www.benzinga.com//node/45677373" target="_blank" rel="noreferrer noopener">recently raised its FY26 guidance</a>.</li>
<li>BWX Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWXT#NYSE">BWXT</a>) shares upped 16.71% as President Donald Trump signed a suite of executive orders to <a href="https://www.benzinga.com//node/45654523" target="_blank" rel="noreferrer noopener">revive the U.S. nuclear industry</a>.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) shares increased 14.88% after the company reported better-than-expected first-quarter earnings and analysts <a href="https://www.benzinga.com//node/45695903" target="_blank" rel="noreferrer noopener">raised the price forecast on the stock</a>.</li>
<li>Reddit, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) stock increased 14.27% after it was named among the <a href="https://www.benzinga.com//node/45679678" target="_blank" rel="noreferrer noopener">additions to the Russell 3000 index</a>.</li>
<li>Hologic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) stock grew 14.12% after private equity firms TPG and Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) recently bid to acquire the company, <a href="https://www.benzinga.com//node/45629538" target="_blank" rel="noreferrer noopener">valuing it at over $16 billion</a>.</li>
<li>Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) stock upped 13.12%, possibly amid overall market strength after President Trump delayed 50% EU tariffs to July.</li>
<li>Heico Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) shares were up 12.19% after the company reported <a href="https://www.benzinga.com//node/45630872" target="_blank" rel="noreferrer noopener">better-than-expected financial results</a>.</li>
<li>Applovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) stock gained 11.82% last week. It continued upward momentum following <a href="https://www.benzinga.com//node/45543602" target="_blank" rel="noreferrer noopener">strong Q1 earnings</a> and tariff <a href="https://www.benzinga.com//node/45655193" target="_blank" rel="noreferrer noopener">truce tailwinds</a>.</li>
</ol>
Photo via Shutterstock

Large Cap

BWXT

HOLX

INTU

RDDT

ULTA

VEEV

United States Steel, Applovin And Ulta Beauty Are Among Top Large-Cap Gainers Last Week (May 26-May 30): Are The Others In Your Portfolio?

Elon Musk <a href="https://x.com/elonmusk/status/1926660721598681220">posted on X</a> on Sunday a segment from a year-old Yahoo Finance <a href="https://www.youtube.com/watch?v=ER7iqeYx9HU">interview</a> with Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang.&nbsp;
The conversation touched on many interesting points, but the reason Musk posted it is because of Huang's take on self-driving cars that stood out.&nbsp;
<h2 class="wp-block-heading">Huang: Autonomous Driving Is the Future</h2>
<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"><a href="https://t.co/DryiuFJDof">pic.twitter.com/DryiuFJDof</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1926660721598681220?ref_src=twsrc%5Etfw">May 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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<a href="https://www.benzinga.com/news/24/05/38979880/thanks-jensen-elon-musk-reacts-to-nvidia-ceos-praise-of-teslas-full-self-driving-technology">Huang called Tesla</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) &#8220;far ahead in self-driving cars&#8221; and predicted that every automaker will need to follow suit. &#8220;Every single car someday will have to have autonomous capability,&#8221; Huang said. &#8220;It's safer, it's more convenient, it's more fun to drive.&#8221;
He explained that training self-driving systems is evolving. Instead of using labeled images, companies now feed raw video into AI models. &#8220;Now we just put video right into the car and let the car figure it out by itself,&#8221; he said. This shift mimics how large language models are trained and signals a move toward AIs that better understand the physical world.
Huang praised Tesla&#8217;s use of end-to-end generative AI in its Full Self-Driving system. &#8220;It learns from watching video, surround video, and it learns about how to drive end-to-end,&#8221; he said. &#8220;It's really revolutionary.&#8221;
Trending: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
<h2 class="wp-block-heading">Massive Computing Demands Ahead</h2>
Video-based AI requires enormous data and processing power, and Huang made clear that Nvidia is ready. &#8220;The best way to teach these AIs how the physical world behaves is through video—just watching tons and tons and tons of videos,&#8221; he said.
Beyond Tesla, Huang cited growing interest from other automakers and industries. He said biotech companies are <a href="https://www.benzinga.com/news/25/05/45602697/abu-dhabi-backed-g42-and-igenius-team-up-to-build-europes-most-powerful-ai-supercomputer-using-nvidia-chips-in-italy">building AI supercomputers</a> to generate molecules for drug discovery, and that even cloud providers are being outpaced by new sectors jumping into generative AI.
&#8220;We now have a software and AI model that can understand and learn almost any language—the language of English, of images, of video, of chemicals, of protein, even physics,&#8221; Huang said. &#8220;And to be able to generate almost anything.&#8221;
See Also: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
<h2 class="wp-block-heading">Skepticism Around Tesla's Robotaxi Plans</h2>
While Huang praised Tesla's approach, not everyone in the financial world is fully on board with its near-term autonomous driving ambitions. Future Fund LLC Managing Director Gary Black recently <a href="https://www.benzinga.com/25/05/45582499/gary-black-slams-teslas-unsupervised-autonomous-driving-ahead-of-austin-robotaxi-launch-i-have-warned">voiced concern</a> about investor expectations tied to Tesla's Robotaxi rollout.
&#8220;I have warned $TSLA investors numerous times not to get too far ahead of themselves on unsupervised autonomy, including again yesterday,&#8221; Black <a href="https://x.com/garyblack00/status/1925509531397677313">wrote on X</a> on May 22.
He expects the term &#8220;supervised autonomy&#8221; to become more common as Tesla moves closer to launching its ride-hailing Robotaxi service in Austin, Texas. &#8220;Which is a far cry from unsupervised autonomy that supports many investors&#8217; robotaxi valuation models,&#8221; he added.
CEO Elon Musk has said Tesla plans to <a href="https://www.benzinga.com/25/05/45529030/elon-musk-confirms-tesla-robotaxi-launch-is-on-track-for-next-month-these-things-happen-slowly-but-then-all-at-once">launch the Robotaxis by the end of June</a>, starting with over 10 vehicles. He also noted the company would be &#8220;very careful&#8221; with the first introduction of unsupervised full self-driving.
Musk also dismissed the idea of working with ride-hailing company Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), hinting instead at a proprietary Tesla platform where owners could add or remove their vehicles from the fleet.
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Image: Shutterstock

UBER

Jensen Huang Praised Tesla, Said Every Car Will Need Autonomous Capability—'It's Safer, It's More Convenient, It's 'More Fun To Drive'

Anthony Scaramucci,&nbsp;the founder of SkyBridge Capital, shared his journey into the world of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) that started during his brief stint at the White House. His interest in cryptocurrency has since led him to become a significant player in the digital currency space.
What Happened: Scaramucci&#8217;s second encounter with Bitcoin happened in the Roosevelt Room of the White House in 2017. The meeting, attended by then-Treasury Secretary Steve Mnuchin and officials from The Federal Reserve, revolved around cryptocurrency research and was a pivotal moment in sparking Scaramucci&#8217;s interest in Bitcoin and blockchain technology.
After his departure from the White House, Scaramucci delved deeper into digital currency research, eventually becoming a crypto investor through his hedge fund. His publication, The Little Book of Bitcoin, shares stories about people&#8217;s journey to cryptocurrency, reflecting his belief that most people who explore Bitcoin end up believing in it.
As per the Fortune, the book has been well-received, earning praise from Strategy chairman Michael Saylor, despite initial disagreements about investment allocation recommendations.&nbsp;
According to Scaramucci, he approached Saylor to pen the foreword for his book. After reading the manuscript, Saylor called him—while sailing on his yacht—to say he was impressed overall, but strongly disagreed with the final chapter. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42378636/scaramucci-bitcoin-is-a-volatile-asset-but-ready-for-prime-time-institutional-investing">Scaramucci: Bitcoin Is a Volatile Asset, But &#8216;Ready for Prime Time Institutional Investing&#8217;</a>
Saylor questioned why Scaramucci would advocate for Bitcoin with such strong conviction yet suggest only a modest investment. 
Saylor told him, "You just got done telling me this is the greatest investment" but you only recommend a 2% allocation, Scaramucci said. That feedback led Scaramucci to revise the book's conclusion.
While Scaramucci has found success in his crypto investments, he has made it clear that he has no political ambitions. He expressed hope for a resolution to the political impasse and the ongoing tariff issues with Canada.
Why It Matters: Scaramucci&#8217;s journey from the White House to becoming a crypto investor highlights the growing interest and acceptance of cryptocurrencies among traditional finance professionals. 
His story, as told in his book, could inspire more people to explore and invest in digital currencies, potentially driving further growth in the cryptocurrency market.
Read Next
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Image: Shutterstock/Al Teich

$BTC

Michael Saylor Called Scaramucci From a Yacht and It Changed the Ending of His Book

Hollywood actors are often seen as financially set for life, with little reason to seek extra income elsewhere. But acclaimed American actor Josh Brolin revealed in an interview that he turned to stock trading to make ends meet during a difficult stretch in his Hollywood career.
<h2 class="wp-block-heading">‘I Just Wasn't Making Money'</h2>
Speaking with podcaster and journalist <a href="https://www.youtube.com/watch?v=aomL_083OWA">Guy Raz</a> a few months ago, Brolin said he began stock investing to support his family during a time when his acting career hadn't taken off and he wasn't "cutting it."
&nbsp;"I had children going to school and I just wasn&#8217;t making money, man," Brolin said. "If you&#8217;re lucky enough to make 100,000 a year, which I wasn&#8217;t, then you&#8217;re clearing 30,000 after taxes and commissions and if you have a lawyer and you have a manager and an agent and all this stuff that I had back then."
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Brolin said he started taking interest in stocks after meeting entrepreneur and investor Brett Markinson, who introduced him to the technical details and dynamics of trading. Brolin started asking him everything about investing to understand the finer details of the industry. Later, Brolin's role in "Wall Street: Money Never Sleeps" gave him access to market experts and billionaires, with whom he discussed finance, discipline, and other key aspects of investing, he said. All of this proved worthwhile for Brolin, who said he earned more from investing than from his acting career.
"I made more money than I had ever made acting for sure," Brolin told Raz. "It wasn&#8217;t just because I got lucky with one stock that went to the roof, I was very disciplined in the breaths of upward momentum, you know, fairly solid stocks. So I&#8217;d get it when it would go down, I&#8217;d sell it when it would go up."
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<h2 class="wp-block-heading">From Day Trading to Long-Term Investing</h2>
Brolin said that he is a long-term investor now because day trading requires a tight schedule and a disciplined routine.
"If you do that, you have to be up at 4:30 every morning and you have to know your basket and you have done your due diligence for what you&#8217;re trading for that day and the night before," according to Brolin.
<h2 class="wp-block-heading">‘I Knew I Could Figure Financials Out'</h2>
Brolin said he'd accepted early on that he'd spend his career as a working actor, constantly seeking roles to support himself. But he was also confident from the beginning that he&#8217;d always be able to handle his finances and provide for his family.
"I knew that I could figure financials out, I knew that I could support myself, not just through acting. I didn&#8217;t do TV for 20 years, so again, for somebody who needs to provide for their family, there was still some version of integrity," he said.
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Hollywood Star Josh Brolin Says He Made More Money Trading Stocks Than Acting Due to Discipline And 1 Stock That Went 'to the Roof'

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol class="wp-block-list">
<li>Summit Therapeutics Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) stock declined 29.32% after the company announced topline results <a href="https://www.benzinga.com//node/45693375" target="_blank" rel="noreferrer noopener">from its Phase 3 HARMONi trial</a>.</li>
<li>Temu parent PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) shares tumbled 19.44%  after President Trump said China had violated its agreement with the U.S. Additionally, a federal appeals court on Thursday temporarily reinstated most of<a href="https://www.benzinga.com//node/45696218" target="_blank" rel="noreferrer noopener"> the tariffs imposed by Trump</a>.</li>
<li>Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) shares fell 17.86% after the company and Sanofi said the AERIFY-1 study met its primary endpoint, <a href="https://www.benzinga.com//node/45692578" target="_blank" rel="noreferrer noopener">but the AERIFY-2 study did not</a>.</li>
<li>Booz Allen Hamilton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) dipped 17.72% after Barclays maintained an Equal-Weight rating on the stock and lowered its <a href="https://www.benzinga.com//node/45657176" target="_blank" rel="noreferrer noopener">price forecast from $140 to $120</a>.</li>
<li>Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) stock declined 16.74% after the company reported first-quarter financial results and provided cautious forward-looking commentary. Multiple analysts also lowered<a href="https://www.benzinga.com//node/45651210" target="_blank" rel="noreferrer noopener"> price forecasts following the report</a>.</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares were down 16.31%, possibly amid overall market strength, after President Trump had delayed 50% EU tariffs until July.</li>
<li>Copart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) dipped 15.13% last week. The stock continued its decline after reporting a <a href="https://www.benzinga.com//node/45574729" target="_blank" rel="noreferrer noopener">third-quarter revenue miss</a>.</li>
<li>The Cooper Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>) shares decreased 13.90% despite a <a href="https://www.benzinga.com//node/45681308" target="_blank" rel="noreferrer noopener">second-quarter earnings beat</a>. JP Morgan downgraded the stock from Overweight to Neutral and lowered its price forecast from <a href="https://www.benzinga.com/quote/coo/analyst-ratings" target="_blank" rel="noreferrer noopener">$110 to $76</a>.</li>
<li>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) stock fell 12.89%.</li>
<li>HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) stock was down 12.63% after it reported mixed second-quarter earnings and cut its outlook. Additionally, several firms cut their respective <a href="https://www.benzinga.com//node/45698612" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
<li>Burlington Stores, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) stock declined 11.90% after its <a href="https://www.benzinga.com//node/45674314" target="_blank" rel="noreferrer noopener">first-quarter results</a>. Additionally, several firms revised their respective <a href="https://www.benzinga.com/quote/burl/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
</ol>
Image Via Shutterstock

BURL

CPRT

DECK

OKTA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

REGN

SMMT

Temu Parent PDD, Regeneron Pharmaceutical And Burlington Stores Are Among Top 11 Large-Cap Losers Last Week (May 26-May 30): Are The Others In Your Portfolio?

The past week has been a rollercoaster ride for the EV industry, with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) making headlines. From Tesla&#8217;s Cybertrucks being added to the Mexican police fleet for the 2026 FIFA World Cup to Chinese regulators meeting with BYD to discuss &#8216;Zero Mile&#8217; used cars, there&#8217;s a lot to catch up on. Let&#8217;s dive in.
Tesla Cybertrucks Join Mexican Police Fleet For 2026 FIFA World Cup
Despite a dip in consumer demand, Tesla&#8217;s Cybertrucks have found a new customer &#8211; the Mexican police. The bulletproof durability of these vehicles makes them an attractive choice for law enforcement, especially with the 2026 FIFA World Cup on the horizon.
<a href="https://www.benzinga.com/general/sports/25/05/45634051/tesla-cybertruck-demand-slides-but-mexican-police-fleet-buying-for-2026-fifa-world-cup">Read the full article here.</a>
Chinese Regulators Discuss &#8216;Zero Mile&#8217; Used Cars with BYD
China&#8217;s commerce ministry regulators are set to meet with executives from several Chinese automakers, including EV giant BYD, to discuss the surge in zero-mile used car sales. These are cars that have been registered but never driven, and over 4000 vendors sell these cars domestically in China.
<a href="https://www.benzinga.com/markets/asia/25/05/45611701/chinese-regulators-will-meet-tesla-rival-byd-other-companies-to-discuss-zero-mile-used-cars-report">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/news/topics/25/05/45708861/trump-demands-automakers-including-tesla-build-entirely-in-the-us" target="_blank" rel="noreferrer noopener">Trump Demands Automakers, Including Tesla, Build Entirely In The US</a>
Tesla Board Members Sell Shares Ahead Of Robotaxi Launch
Two board members of Tesla have sold nearly $200 million in stock ahead of the company&#8217;s highly anticipated robotaxi launch in Texas. This adds to a history of board members cashing out and could be a red flag ahead of this key potential stock catalyst.
<a href="https://www.benzinga.com/news/insider-trades/25/05/45651670/tesla-insider-sales-increase-ahead-of-robotaxi-launch-kimbal-musk-ira-ehrenpreis-sell-190m">Read the full article here.</a>
Tesla&#8217;s European Sales Dip By 49%
Tesla&#8217;s sales in Europe fell by 49% YoY in April, as the company continues to face global challenges. The company sold 7,261 units in Europe for April, almost half of the 14,228 units it sold last year during the same time.
<a href="https://www.benzinga.com/markets/eurozone/25/05/45616006/teslas-european-woes-see-no-end-april-sales-crash-49-as-rivals-race-ahead-in-ev-market">Read the full article here.</a>
Major BYD Dealer Shuts Down Operations In China
As BYD expands into the European market, one of its major dealers in China&#8217;s eastern Shandong province has reportedly shut down its operations across multiple cities. This has affected over 1,000 customers with warranty and after-sales service-related issues.
<a href="https://www.benzinga.com/25/05/45666513/a-major-byd-dealer-in-china-shut-down-its-operations-as-ev-giant-expands-into-europe-report">Read the full article here.</a>
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

BYDDY

Cybertrucks For FIFA 2026, Chinese Regulators Meet BYD, Tesla's European Troubles, And More: This Week In Mobility

Russian authorities have been accused of concocting a story about an attack on President&nbsp;Vladimir Putin&#8216;s helicopter&nbsp;during his visit to the&nbsp;Kursk region.
What Happened: According to a report, Russian officials had reported an assault on Putin&#8217;s helicopter by Ukrainian drones while he was in the border region. However, The Moscow Times, quoting both&nbsp;current and former Russian officials,&nbsp;suggested that this account may have been a deception by the authorities to persuade&nbsp;the public that Putin was&nbsp;sharing in the same hardships as the average citizen.
The Russian Defense Ministry had previously announced that the helicopter was the target of a large-scale Ukrainian drone attack. 
Yet The Moscow Times proposed that this announcement was merely a &#8220;PR stunt&#8221; designed to portray Putin as sharing in the struggles of ordinary Russians amid the ongoing drone conflict.
As per the report <a href="https://www.themoscowtimes.com/2025/05/30/hero-under-fire-as-putin-visited-kursk-the-kremlin-told-russians-that-he-was-dodging-ukrainian-drones-a89276">by</a> The Moscow Times, officials, who chose to remain anonymous, assured the outlet that Putin&#8217;s safety was guaranteed at the highest level, with hundreds of officers from the Presidential Security Service, the FSB, the National Guard, and the Interior Ministry forming his security detail.
Also Read: <a href="https://www.benzinga.com/tech/25/05/45186088/putin-ally-who-unveiled-tesla-cybertruck-with-machine-gun-now-says-elon-musk-remotely-disabled-the-militarized-ev">Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Now Says Elon Musk &#8216;Remotely Disabled&#8217; The Militarized EV</a>
The&nbsp;Center for Strategic Communications and&nbsp;Information Security in Ukraine refuted the claims that Putin&#8217;s helicopter was attacked by Ukrainians. 
In addition,&nbsp;the Institute for the Study&nbsp;of War noted that, contrary to Moscow&#8217;s assertions, combat continues with Russian forces not making progress in their offensive operations.
Why It Matters: The alleged fabrication of the attack on Putin&#8217;s helicopter underscores the tense relations between Russia and Ukraine, and the lengths to which authorities may go to manipulate public perception. 
This incident, if indeed a fabrication, could further strain relations between the two countries and potentially escalate the ongoing conflict. 
It also raises questions about the transparency and credibility of information released by the Russian authorities.
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Image: Shutterstock/miss.cabul

Russia Accused of Faking Attack on Putin's Helicopter

Astronauts Sunita Williams and Butch Wilmore have shared the harrowing details of their nearly 10-month stay aboard the International Space Station, revealing they were unsure at one point whether they&#8217;d be <a href="https://www.benzinga.com/general/space/25/03/44370917/nasa-astronauts-sunita-williams-and-butch-willmore-head-back-to-earth-on-spacex-dragon-capsule" target="_blank" rel="noreferrer noopener">able to return to Earth safely.</a>
The two astronauts, part of the first crewed test of Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) &#8216;s Starliner spacecraft, faced critical thruster issues during docking, <a href="https://www.bbc.com/news/articles/clygd1vl9yeo" target="_blank" rel="noreferrer noopener">reports</a> BBC.
Unable to proceed forward initially, they relied on support from Mission Control to stabilize the craft. 
&#8220;Docking was imperative,&#8221; Wilmore told BBC. &#8220;If we weren&#8217;t able to dock, would we be able to make it back? We didn&#8217;t know.&#8221;
Originally scheduled for an eight-day test flight in June 2024, the mission took an unexpected turn.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/space/25/05/45700926/exclusive-could-airlines-with-starlink-see-booking-boost-what-benzinga-reader-poll-says" rel="noreferrer noopener"> EXCLUSIVE: Could Airlines With Starlink See Booking Boost? What Benzinga Reader Poll Says</a>
With Starliner struggling to dock, Wilmore admitted the thought of being stranded entered their minds. However, he and Williams refrained from discussing the worst-case scenario aloud, instead focusing on solutions and coordination.
The pair eventually docked and remained aboard the ISS while NASA assessed Starliner&#8217;s readiness for re-entry.
Boeing maintained the vehicle was safe, and later demonstrated that with an uncrewed return in September 2024.
But NASA opted to bring the astronauts back using a SpaceX capsule, extending their stay dramatically.
Despite headlines suggesting they were stranded, both astronauts clarified the ISS had backup spacecraft ready for emergencies.
The situation also became politically charged when President Donald Trump blamed Joe Biden for the astronauts&#8217; extended stay. Wilmore dismissed the politicization, saying, &#8220;We understand space flight is hard.&#8221;
They returned on March 18 and described the physical challenges of readjusting to gravity.
Still, both credited daily resistance training in space for keeping them in top shape—Wilmore claimed he returned &#8220;stronger than I&#8217;ve ever been.&#8221; Williams echoed that sentiment, though admitted Earth&#8217;s gravity wasn&#8217;t easy on her joints at first.
Both astronauts remain optimistic about Starliner&#8217;s future, saying they&#8217;d gladly fly in the capsule again once technical issues are addressed.
&#8220;It&#8217;s a very capable spacecraft,&#8221; Williams told BBC, citing its unique features compared to other vehicles.
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Image: Shutterstock/bella1105

'Would We Be Able To Make It Back?' - NASA Astronauts Recount Harrowing Starliner Mission

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