Últimas noticias sobre HarborOne Bancorp (NASDAQ:HONE) Bolsa

HarborOne Bancorp

HarborOne Bancorp Inc is a bank holding company. The company is engaged in providing financial services like accepting deposits, lending loans, online and mobile banking, cash management, credit cards, money market accounts, and wealth management. The Company has two reportable segments: HarborOne Bank and HarborOne Mortgage. The bank provides financial services to individuals and businesses online and through its full-service branches located in Massachusetts and Rhode Island, one limited-service branch, and a commercial lending office in Boston, Massachusetts, and Providence, Rhode Island.

Advanced Environmental Recycling Technologies

AERT

AILE

CTXR

HONE

HSON

INTZ

KORE

LITM

NATR

PDYN

REKR

SLDP

VINC

WATT

Descubre los mayores ganadores y perdedores en el mercado previo tras movimientos impactantes en acciones clave hoy.

Las acciones de Vincerx Pharma (VINC) suben alrededor del 64%; 20 acciones que se mueven en premercado

HarborOne Bancorp Inc

Hivemapper - United States Dollar

HONEY BADGER SILVER INC by Honey Badger Silver Inc.

Honey Badger Silver Inc

Honeyfund.com Inc

HONEYS HLDGS CO LTD by HONEYS HLDGS CO LTD

Honeys Holdings Co Ltd

Honeytree U.S. Equity ETF

Honeywell International Inc. - Common Stock

Honeywell International Inc

News

Halliburton Launches EarthStar 3DX To Deliver Real-Time Geological Insights Up To 50 Feet Ahead Of The Drill Bit

<ul>
<li>New NVIDIA Isaac GR00T Humanoid Open Models Soon Available for Download on Hugging Face</li>
<li>GR00T-Dreams Blueprint Generates Data to Train Humanoid Robot Reasoning and Behavior</li>
<li>NVIDIA RTX PRO 6000 Blackwell Workstations and RTX PRO Servers Accelerate Robot Simulation and Training</li>
<li>Agility Robotics, Boston Dynamics, Foxconn, Lightwheel, NEURA Robotics and XPENG Robotics Among Many Robot Makers Adopting NVIDIA Isaac</li>
</ul>

NVDA

NVIDIA Taps Global Partners To Build Enterprise AI Factories With RTX PRO 6000 Blackwell GPUs And Full-Stack Validated Designs

Chinese smartphone giant Xiaomi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACY#OTC">XIACY</a>) plans to invest at least 50 billion yuan ($6.93 billion) in chip design over a minimum 10-year period starting from 2021, founder Lei Jun announced Monday on Chinese social media platform Weibo.
What Happened: The Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rival has already invested 13.5 billion yuan to develop its advanced mobile chip XringO1, according to Lei, Reuters reported. The company&#8217;s chip design division now employs more than 2,500 people, underscoring Xiaomi&#8217;s commitment to semiconductor self-sufficiency.
This significant investment comes amid escalating U.S. semiconductor sanctions against Chinese tech companies. Taiwan Semiconductor Manufacturing Co. recently disclosed in its 2024 annual report that ensuring complete compliance with U.S. chip technology <a href="https://www.benzinga.com/government/regulations/25/04/44895326/taiwan-semiconductor-confronts-challenges-of-us-chips-sanction-on-china">embargoes has become increasingly challenging</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period" target="_blank" rel="noreferrer noopener">Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As ‘Greed' Sentiment Takes Over: Analyst Predicts BTC ‘Primed' For A New All-Time High</a>
Why It Matters: TSM, which produces chips for Qualcomm Inc. and MediaTek that are used in Xiaomi devices, noted that business partners have <a href="https://www.benzinga.com/government/regulations/25/04/44895326/taiwan-semiconductor-confronts-challenges-of-us-chips-sanction-on-china">increasingly violated semiconductor sanctions</a> to access advanced technology.
Xiaomi currently <a href="https://www.benzinga.com/news/global/25/04/44796659/apple-tops-global-smartphone-sales-with-19-share-boosted-by-iphone-16e-emerging-market-growth">holds third place in global smartphone market share</a>, according to recent Counterpoint Research data, behind Apple and Samsung Electronics Co. Ltd. 
Price Action: Xiaomi Corp&#8217;s stock was trading at 51.50 HKD ($6.58) on the Hong Kong Exchange as of 11:59 a.m. Monday, marking a 0.98% gain for the day. Year to date, the stock has surged 51.47%.
Read Next:
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<li><a href="https://www.benzinga.com/25/05/45485704/joe-biden-diagnosed-with-advanced-prostate-cancer-trump-wishes-former-president-a-fast-and-successful-recovery" target="_blank" rel="noreferrer noopener">Joe Biden Diagnosed With Advanced Prostate Cancer, Trump Wishes Former President A ‘Fast And Successful Recovery'</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Alan Sau / Shutterstock.com

Asia

Equities

Markets

AAPL

XIACY

Apple Rival Xiaomi To Invest Over $6.9 Billion In Chip Design Through 2031, Boosts Push For Semiconductor Independence Amid US Sanctions

Dairy Queen CEO Troy Bader says the job interview with Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) CEO Warren Buffett that landed him the top seat at the Blizzard maker felt less like a cross-examination and more like a seminar on curiosity.
What Happened: Warren Buffett "was just the opposite" of arrogant, Bader recalls in an <a href="https://www.businessinsider.com/warren-buffett-dairy-queen-ceo-bader-job-interview-berkshire-passion-2025-5?utm_campaign=business-sf&amp;utm_source=linkedin&amp;utm_medium=social">interview</a> with Business Insider, grilling him for lessons Buffett could borrow.
"It was the fall of 2017, I'll never forget the day… I was very anxious going in," Bader said, wondering which "questions" Buffett might lob that he'd "never even thought about." "From Warren it was just the opposite," Bader added. Instead of chest-thumping, Buffett spent "the first 15 or 20 minutes" probing a niche Bader knew well for another deal.
"Warren is a constant learner. He wants to know what you know and what he can learn from you." Buffett drilled into Dairy Queen's future and Bader's love for it, &#8220;digging for something more, that energy, that passion, that connection to the business.&#8221;
See also: <a href="https://www.benzinga.com/tech/25/05/45486639/sundar-pichai-reveals-google-parent-once-super-intensely-debated-about-buying-netflix-in-a-world-of-butterfly-effects">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: &#8216;In A World Of Butterfly Effects…&#8217;</a>
Bader's first takeaway: "Anybody you meet, I don't care who they are — they know something you don't.&#8221; The second: even the &#8220;smartest person in the world&#8221; can be outperformed by &#8220;somebody who has that passion.&#8221;
Buffett <a href="https://www.benzinga.com/general/entertainment/22/03/26224759/warren-buffett-owns-what-10-berkshire-acquisitions-you-may-have-forgotten">snapped up</a> Dairy Queen for about $585 million in 1997, joking he brought a "modicum of product expertise" as a Blizzard devotee. Today, the chain licenses more than 7,700 restaurants across 20-plus countries. While Dairy Queen is barely a slice of Berkshire Hathaway, Bader said Buffett &#8220;is actually paying attention to every business… This is his life, this is who he is.&#8221;
Why It Matters: With Berkshire's 94-year-old chief <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">stepping aside</a> at year-end, Bader's encounter offers a peek at how the Oracle screens for passion and ethics in the sprawling empire.
Microsoft co-founder Bill Gates earlier shared a story of when he joined Buffett on a hands-on Dairy Queen shift—operating the register, greeting customers and perfecting the Blizzard's trademark upside-down presentation. Gates <a href="https://www.benzinga.com/news/23/07/33234002/what-bill-gates-learned-by-serving-blizzards-with-warren-buffett-at-dairy-queen?utm_source=chatgpt.com">praised Buffett's habit</a> of defying convention, from investing in beloved brands to <a href="https://www.benzinga.com/personal-finance/25/01/43341020/warren-buffett-would-give-up-a-year-of-his-life-to-eat-whatever-he-wants-his-daughter-confirms-he-still-gets-daily-mcdonalds-breakfast-at-94">starting his mornings</a> with Oreos and ice cream.
Benzinga Edge Stock Rankings gives Berkshire Hathaway&#8217;s Class-A shares a Growth score of 91.32% and a steady Momentum of 82.05%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Check to see how BRK&#8217;s Class-B shares compare</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="144" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19010934/brka-edge-1-1024x144.png" alt="" class="wp-image-919215" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19010934/brka-edge-1-1024x144.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19010934/brka-edge-1-300x42.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19010934/brka-edge-1-768x108.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19010934/brka-edge-1-1536x216.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19010934/brka-edge-1.png 1622w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo Courtesy: Photo Agency On Shutterstock.com
Read next: <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45486627/elon-musks-new-emperor-kekius-maximus-avatar-sends-pepe-and-this-namesake-coin-rallying">Elon Musk&#8217;s New &#8216;Emperor Kekius Maximus&#8217; Avatar Sends Pepe And This Namesake Coin Rallying</a>

Management

Small Business

Dairy Queen CEO Reveals Warren Buffett's Shocking First Move in Job Interview: 'I'll Never Forget The Day…'

The company reiterates its guidance for full year 2025, with specialties-driven EBITDA of between $0.95 billion to $1.15 billion and Potash sales volumes of between 4.5 million and 4.7 million metric tons.

Guidance

ICL Reaffirms FY25 Guidance For Specialties-Driven EBITDA To $0.95B-$1.15B And Potash Sales Volumes Of Between 4.5M-4.7M Metric Tons

ICL Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICL#NYSE">ICL</a>) reported quarterly earnings of $0.09 per share which missed the analyst consensus estimate of $0.11 by 18.18 percent. This is unchanged from the same period last year. The company reported quarterly sales of $1.77 billion which met the analyst consensus estimate. This is a 1.84 percent increase over sales of $1.74 billion the same period last year.

Earnings

Earnings Misses

ICL Group Q1 Adj. EPS $0.09 Misses $0.11 Estimate, Sales $1.77B Inline

Maye Musk, mother of Tesla Inc. CEO Elon Musk, revealed on Sunday a 1989 computer aptitude test showing her son&#8217;s exceptional engineering potential at age 17.
What Happened: &#8220;While sorting through photos, I came across computer aptitude test results of Elon Musk at 17. My genius boy. Proud mom,&#8221; the 77-year-old model and dietitian wrote on X.
The University of Pretoria document, dated May 17, 1989, shows Musk received A+ scores in both operating and programming on ISM tests, results that the tech mogul claimed were unprecedented.
&#8220;They said I scored the highest for engineering aptitude that they had ever seen,&#8221; Musk commented. &#8220;Or, in other words, not bad for a human, as a future AI might say.&#8221;
This revelation comes amid Musk&#8217;s continued focus on artificial intelligence through his companies, xAI and Tesla, which are developing AI technologies for various applications.
<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">While sorting through photos, I came across computer aptitude test results of <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> at 17. My genius boy. Proud mom. <a href="https://t.co/1MeWDSQ6FZ">pic.twitter.com/1MeWDSQ6FZ</a>
&mdash; Maye Musk (@mayemusk) <a href="https://twitter.com/mayemusk/status/1924125278697034206?ref_src=twsrc%5Etfw">May 18, 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/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As &#8216;Greed&#8217; Sentiment Takes Over: Analyst Predicts BTC &#8216;Primed&#8217; For A New All-Time High</a>
Why It Matters: The aptitude scores offer insight into Musk&#8217;s early technical abilities, long before founding companies like SpaceX and becoming CEO of Tesla. These early <a href="https://www.benzinga.com/personal-finance/25/05/45336279/elon-musks-77-year-old-mom-says-i-have-to-sleep-in-the-garage-and-on-floor-blankets-when-visiting-her-son-richest-man-in-the-world-we-adapt">indicators of technical prowess</a> preceded his emergence as the world&#8217;s richest individual, currently worth over $381 billion according to the Bloomberg Billionaires Index.
Despite her son&#8217;s immense wealth, Maye Musk recently revealed she sleeps in modest accommodations when visiting him. &#8220;You can&#8217;t have a fancy house near a rocket site,&#8221; she <a href="https://www.benzinga.com/personal-finance/25/05/45336279/elon-musks-77-year-old-mom-says-i-have-to-sleep-in-the-garage-and-on-floor-blankets-when-visiting-her-son-richest-man-in-the-world-we-adapt">explained in a previous interview</a>, referencing his Texas SpaceX facility.
Maye has frequently <a href="https://www.benzinga.com/general/entertainment/24/07/39657381/elon-musks-mother-recounts-time-her-children-used-to-ask-for-food-she-couldnt-afford-after-">recounted the family&#8217;s humble beginnings</a> following her 1979 divorce, when financial constraints meant feeding her children bean stew rather than expensive cereals. &#8220;I remember Elon saying, &#8216;I always wanted Coco Pops, but we only got Raisin Bran,'&#8221; she told Fox News.
Read Next: 
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Success Stories

General

TSLA

Elon Musk's Mother Shares 1989 Aptitude Test Results Revealing 'Highest Engineering Aptitude' Score Of Tesla CEO At Age 17

Macro Economic Events

Econ #s

Economics

Reported Earlier, Chinese Unemployment Rate For April 5.1% Vs. 5.2% Est.; 5.2% Prior

Reported Earlier, China Industrial Production Year to Date (YoY) For April 6.4% Vs. 6.5% Prior

Reported Earlier, China Industrial Production (YoY) For April 6.1% Vs. 5.7% Est.; 7.7% Prior

Reported Earlier, China Fixed Asset Investment (YoY) For April 4.0% Vs. 4.4% Est.; 4.2% Prior

Sohu.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOHU#NASDAQ">SOHU</a>) reported quarterly losses of $(0.55) per share. This is a 15.38 percent increase over losses of $(0.65) per share from the same period last year. The company reported $135.65 million in sales this quarter. This is a 2.69 percent decrease over sales of $139.39 million the same period last year.

SOHU

Sohu.com Q1 Adj. EPS $(0.55) Up From $(0.65) YoY, Sales $135.65M Down From $139.39M YoY

Last week, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO Sundar Pichai revealed that the tech giant once came close to acquiring Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
What Happened: In a new interview on the All-In Podcast, Pichai was asked by David Friedberg about the biggest regrets or missed opportunities during his tenure as CEO.
While Pichai said that he tries not to dwell on regrets, when pressed further, he acknowledged one major what-if: Netflix.
"Maybe Netflix, right?" Pichai said. "We debated Netflix at some point super intensely inside."
"I wouldn't call it regrets, but you always look back … in a world of butterfly effects, there were alternate paths, but maybe they are in a different part of the multiverse."
See Also: <a href="https://www.benzinga.com/tech/25/05/45484235/facebook-vs-orkut-one-became-meta-with-a-1-6-trillion-market-cap-the-other-was-shut-down-by-google-heres-why">Facebook Vs. Orkut: One Became Meta With A $1.6 Trillion Market Cap, The Other Was Shut Down By Google: Here&#8217;s Why</a>
Pichai also discussed Alphabet's broader innovation strategy, noting that despite appearing as a holding company, Alphabet focuses deeply on technology-first solutions.
"We are not just looking to invest capital in other attractive businesses," he said, adding that the company looks for problems where its technology and R&amp;D can provide a differentiated value proposition.
He cited innovations like Waymo, Google Cloud and AI advancements through Gemini and DeepMind as examples of Alphabet's approach to incubating transformative businesses rooted in foundational research.
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Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It&#8217;s Important: Over the years, Google has made several <a href="https://www.benzinga.com/25/04/44986406/if-you-invested-1000-in-google-stock-when-it-acquired-youtube-heres-how-much-youd-have-today">successful acquisitions</a> like YouTube, Android and Waze.
While Netflix focused early on original, data-driven content and global productions to become a major entertainment player, Google prioritized user-generated content through YouTube.
The two companies took different paths: Netflix bet on premium storytelling, while Google emphasized scale and creator-driven platforms.
In April, Alphabet <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">reported first-quarter revenue</a> of $90.23 billion, marking a 12% increase from the same period last year. The figure surpassed the Street consensus estimate of $89.2 billion. YouTube advertising revenue came in at $8.9 billion, ahead of the expected $8.1 billion.
Netflix <a href="https://www.benzinga.com/general/entertainment/25/04/44877995/netflix-crushes-q1-says-its-working-hard-to-improve-and-expand-its-offering">reported first-quarter revenue</a> of $10.54 billion, reflecting a 12.5% year-over-year increase. The result slightly exceeded the Street consensus estimate of $10.52 billion.
Price Action: In after-hours trading, Alphabet Inc.&#8217;s Class A shares dropped 1.64%, and Class C shares slipped 1.54%. Meanwhile, Netflix shares declined by 0.88%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Alphabet has a growth score of 66.98% based on Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to 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 decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19003110/Screenshot-2025-05-19-at-10.01.04%E2%80%AFAM.png" alt="" class="wp-image-919188" /></a></figure>
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage&#8217; As China&#8217;s Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Tech

GOOG

GOOGL

NFLX

Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: 'In A World Of Butterfly Effects…'

Pepe and cryptocurrencies tied to "Kekius Maximus" rallied Sunday night after tech mogul Elon Musk changed his X avatar to one centered on the fictional character.
What happened: Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based Kekius Maximus soared 7% in the last 24 hours to a market capitalization of $1.8 million, <a href="https://coinmarketcap.com/currencies/kekius-maximus-army/">according </a>to CoinMarketCap.
Alongside, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based frog-themed PEPE popped over 5%, becoming one of the market's biggest gainers in the 24-hour period. Notably, PEPE's trading volume nearly tripled to $2.19 billion, making it the second-most traded meme coin after Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
Top Gainer (24-Hours)
<figure class="wp-block-table"> 
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 12:30 a.m. ET)</td>
</tr>
<tr>
<td>Kekius Maximus (KM) </td>
<td>+7.76%</td>
<td>$0.001782</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>+5.22%</td>
<td>$0.00001295</td>
</tr>
</tbody>
</table>
</figure>
The rally comes after Musk changed his X profile name to Kekius Maximus and updated his profile picture, depicting him as an ancient warrior called &#8220;Emperor Kekius Maximus.&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="596" height="496" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19004130/Screenshot-2025-05-19-at-13.41.13.png" alt="" class="wp-image-919195" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19004130/Screenshot-2025-05-19-at-13.41.13.png 596w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/19004130/Screenshot-2025-05-19-at-13.41.13-300x250.png 300w" sizes="(max-width: 596px) 100vw, 596px" /></figure>
Screenshot From Elon Musk&#8217;s X Account
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45427302/anthony-scaramucci-forecasts-bitcoin-will-be-deemed-asset-class-akin-to-gold-when-it-reaches-500000">Anthony Scaramucci Says Once Bitcoin Hits $500,000 It Will Be Considered An Asset Class Just Like Gold</a>
Kekius Maximus—a combination of "Pepe the Frog" and &#8220;Maximus Decimus Meridius,&#8221; the iconic character from the movie Gladiator—shot to prominence after <a href="https://www.benzinga.com/24/12/42739155/elon-musk-changes-his-name-to-kekius-maximus-on-x-sending-to-memecoin-skyrocketing-over-600">Musk used it as his X profile name</a> on New Year's Eve 2024. The coin exploded 600%, accumulating millions in market capitalization.
However, the asset lost all its gains after Musk abandoned the avatar. Since then, the speculative asset has <a href="http://benzinga.com/25/03/44429523/elon-musks-new-x-post-sends-kekium-maximus-soaring-75frog-themed-pepe-also-rallies">experienced brief bursts of dramatic growth</a>, aided, of course, by Musk&#8217;s social media activity.
Benzinga Note: Investing in meme coins that lack community support is highly speculative and involves significant risk. They often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading.
Shutterstock/Joshua Sukoff
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45428552/peter-schiff-once-questioned-wisdom-of-hodling-ethereum-at-1200-since-then-the-second-largest-crypto-has-soared-116">Peter Schiff Once Questioned Wisdom Of HODLing Ethereum At $1,200 —Since Then, The Second-Largest Crypto Has Soared 116%</a></li>
</ul>

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

Cryptocurrency

Movers

Trading Ideas

$DOGE

$ETH

$PEPE

$SOL

Elon Musk's New 'Emperor Kekius Maximus' Avatar Sends Pepe And This Namesake Coin Rallying

As Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pursues fresh all-time highs, Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Chairman Michael Saylor&#8217;s wealth multiplication strategies for average wage earners, revolving around the apex cryptocurrency, are back in the spotlight.
What Happened:&nbsp;In a recent interview with podcaster Natalie Brunell, Saylor was asked&nbsp;about the best strategies for an average person to grow their wealth by 100x. 
Saylor advised traders not to quit their jobs and avoid extravagant spending on luxury items like sports cars like Ferrari and yachts, which he described as &#8220;obscenely expensive.&#8221;
&#8220;You would be better invested in an asset that&#8217;s going up 30% a year for the next 20 years, Saylor said, suggesting they rather buy Bitcoin, which he estimates will balloon to $13 million apiece by 2045.
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See Also:&nbsp;<a href="https://benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period" target="_blank" rel="noreferrer noopener">Bitcoin Breaks $107,000, Ethereum Dips, Dogecoin Rallies As &#8216;Greed&#8217; Sentiment Takes Over: Analyst Predicts BTC &#8216;Primed&#8217; For A New All-Time High</a>
He further recommended leveraging mortgage debt to invest in Bitcoin. 
&#8220;If I have any kind of property you know, if I have a house, I would put a long mortgage on it, a 10-year mortgage or a 15 or 20-year mortgage on it, especially a conforming loan and then I would roll it into Bitcoin,&#8221; Saylor said. &#8220;It&#8217;s the cheapest form of permanent capital that someone can get.&#8221;
Saylor&#8217;s argument was that mortgage debt is secured against a &#8220;fairly stable&#8221; asset and the interest rates are subsidized by the government. However, data showed that mortgage rates have been steadily rising.
The 30-year fixed mortgage rate <a href="https://www.benzinga.com/news/25/05/45311797/the-financial-hurdles-to-owning-a-home-have-rarely-been-higher-says-bmo-as-fed-holds-rates-extending-wait-for-homebuyers">shot up to 6.90%</a> for the week ending May 9, up from 6.81% the previous week and reaching the highest level in two months. This marked a sharp increase from the 3.5% rates seen before 2022 that resulted in a Covid-era housing boom.
Why It Matters:&nbsp;Saylor&#8217;s advice underscored his belief in Bitcoin as a long-term investment. One of the most vocal advocates of the apex cryptocurrency, he has put his money where his mouth is, driving his firm Strategy to the forefront of Bitcoin&#8217;s corporate adoption. As of this writing, Strategy held a stash worth over $59 billion as of this writing,&nbsp;<a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to bitcointreasuries.net.
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $104,165.07, up 0.98% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. The cryptocurrency briefly rose above $107,000 late Sunday evening.
Shares of Strategy closed 0.70% higher at $399.80 during Friday&#8217;s regular session.
MSTR stock exhibited a very high momentum score as of this writing. To find out which other companies logged a momentum score in excess of 90, visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="500" height="185" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18232642/Screenshot-2025-05-19-085624.png" alt="" class="wp-image-919132" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18232642/Screenshot-2025-05-19-085624.png 500w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18232642/Screenshot-2025-05-19-085624-300x111.png 300w" sizes="(max-width: 500px) 100vw, 500px" /></figure>
Photo Courtesy: wedmoments.stock On Shutterstock.com
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<li><a href="https://benzinga.com/markets/cryptocurrency/25/05/45485038/robert-kiyosaki-predicts-bitcoin-to-reach-250000-buy-more-do-not-sell" target="_blank" rel="noreferrer noopener">Robert Kiyosaki Predicts Bitcoin To Reach $250,000: &#8216;Buy More. Do Not Sell&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

$BTC

MSTR

Michael Saylor Has A Tip For Average People Looking To Grow Their Wealth By 100x, But He Doesn't Want You To Quit Your Job To Invest In Bitcoin

Tom Lee, co-founder and research head at Fundstrat Global Advisors, endorsed Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) on Sunday, writing &#8220;bitcoin is the way&#8221; in response to Strike CEO Jack Mallers&#8216; prediction that the cryptocurrency is poised to &#8220;go nuclear.&#8221;
What Happened: Mallers, whose Zap company created the popular no-fee Bitcoin Lightning Network app Strike, argued in a video that economic conditions are creating perfect circumstances for Bitcoin&#8217;s rise, particularly citing government monetary policies.
&#8220;They&#8217;re gonna have to print so much money,&#8221; Mallers said. &#8220;Bitcoin is really priced with how much currency slashing around in the world and in order for all of this to work, we have to debase our current value, our debt, and we have to create more.&#8221;
The endorsements come as <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">Bitcoin touched $107,000 Sunday</a>, its highest level in nearly four months. The cryptocurrency has gained over 11% this month, with trading volumes increasing by almost 50% in the latest rally.
See Also: <a href="https://www.benzinga.com/25/05/45486040/chuck-schumer-raises-concerns-over-trump-and-doge-impact-on-us-coast-guard-after-mexican-ship-collides-with-brooklyn-bridge-we-know-theyve-been-meddling">Chuck Schumer Raises Concerns Over Trump And DOGE Impact On US Coast Guard After Mexican Ship Collides With Brooklyn Bridge: &#8216;We Know They&#8217;ve Been Meddling&#8217;</a>
Why It Matters: Market sentiment remains bullish despite $575 million in cryptocurrency liquidations over the past 24 hours. The Crypto Fear and Greed Index registered a &#8220;Greed&#8221; reading of 74, <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">suggesting potential buying pressure ahead</a>.
Cryptocurrency analyst Michaël van de Poppe believes Bitcoin is &#8220;primed for a new ATH [all-time high],&#8221; noting that &#8220;altcoins are outperforming Bitcoin on every move upwards.&#8221; Bitcoin&#8217;s previous record high of $109,114.88 was set on January 20.
Robert Kiyosaki, author of &#8220;Rich Dad Poor Dad,&#8221; recently predicted Bitcoin could reach $250,000 this year, urging followers to &#8220;buy more&#8221; and &#8220;do not sell,&#8221; citing <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45485038/robert-kiyosaki-predicts-bitcoin-to-reach-250000-buy-more-do-not-sell">what he describes as the imminent collapse</a> of the &#8220;Marxist Central Bank system.&#8221;
The cryptocurrency surge contrasts with traditional markets, as U.S. stock futures declined Sunday following Moody&#8217;s downgrade of the <a href="https://www.benzinga.com/25/05/45486095/bitcoin-breaks-107000-ethereum-dips-dogecoin-rallies-as-greed-sentiment-takes-over-analyst-predicts-great-6-8-week-period">U.S. long-term credit rating</a>.
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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: Yalcin Sonat on Shutterstock.com

Tom Lee Says 'Bitcoin Is the Way' After Strike CEO Predicts It's About To 'Go Nuclear'

Treasury Secretary Scott Bessent has issued a fresh warning to the U.S.&#8217;s biggest trading partners, global markets, and economies on trade and tariffs.
What Happened: On Sunday, Bessent warned that U.S. tariffs could soon snap back to their &#8220;reciprocal&#8221; levels seen during &#8220;Liberation Day&#8221; if countries fail to strike trade agreements within the current 90-day window, while speaking at CNN&#8217;s State of the Union with Jake Tapper. 
&#8220;President Trump has put them on notice that if you do not negotiate in good faith, you will ratchet back up to your April 2 level,&#8221; Bessent said, referring to America&#8217;s 18 most important trading partners, which the administration is currently focused on.
See Also: <a href="https://www.benzinga.com/markets/equities/25/05/45486452/jim-cramer-recalls-2011s-6-7-market-decline-after-us-debt-downgrade-says-it-ultimately-meant-nothing-dan-niles-sees-limited-downside-amid-tariff-rollbacks-fomo">Jim Cramer Recalls 2011&#8217;s 6.7% Market Decline After US Debt Downgrade, Says It &#8216;Ultimately Meant Nothing:&#8217; Dan Niles Sees Limited Downside Amid Tariff Rollbacks, FOMO</a>
For smaller trading partners, Bessent said the administration may pursue regional agreements. &#8220;We will do a lot of regional deals,&#8221; he said. &#8220;This is the rate for Central America, this is the rate for this part of Africa.&#8221;
When asked about the impact of unpredictable tariff policy on American businesses, Bessent described the White House strategy as one of &#8220;strategic uncertainty,&#8221; adding that &#8220;If we were to give too much certainty to the other countries, then they would play us in the negotiations.&#8221;
Bessent also addressed criticism from companies like Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), which warned of rising consumer prices. &#8220;Walmart will be <a href="https://www.benzinga.com/markets/25/05/45484675/trumps-tariff-challenge-amid-rising-price-concerns-president-tells-walmart-to-eat-the-tariffs">absorbing some of the tariffs</a>,&#8221; he said, adding that &#8220;some may get passed on to consumers.&#8221;
Why It Matters: This comes amid tariffs pushing Walmart and Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) toy suppliers to the <a href="https://benzinga.com/markets/25/05/45342977/trumps-tariffs-reportedly-push-walmart-and-target-toy-suppliers-to-the-brink-of-closure-if-nothing-changes-well-be-crippled">brink of closure</a> in recent weeks.
On Saturday, President Donald Trump <a href="https://www.benzinga.com/markets/25/05/45484675/trumps-tariff-challenge-amid-rising-price-concerns-president-tells-walmart-to-eat-the-tariffs">posted on Truth Social</a>, asking Walmart to &#8220;eat the tariffs,&#8221; in response to the company&#8217;s warnings of tariff-related price hikes.
Trump also said last week that tariff revenues could <a href="https://benzinga.com/25/05/45447473/trump-says-tariff-money-could-replace-the-income-tax-april-customs-collections-hit-record-15-4-billion-as-new-duties-take-effect">replace income taxes</a>, with April customs collections hitting $15.4 billion. 
However, several economists and policy experts, such as former Treasury Secretary Larry Summers, have claimed that it was Trump who <a href="https://www.benzinga.com/25/05/45365521/larry-summers-says-trump-blinked-on-china-tariffs-sometimes-its-good-to-blink-as-markets-breathe-a-sigh-of-relief">blinked on the tariffs</a>. 
&#8220;Whenever the commitment to the Liberation Day policies increases, markets go down. Whenever there's signs of backing off, markets go up,&#8221; Summers said, clearly highlighting that tariffs aren&#8217;t good for the markets.
Shutterstock/Maxim Elramsisy
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</ul>
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<iframe loading="lazy" title="One-on-one with Treasury Secretary Scott Bessent" width="500" height="281" src="https://www.youtube.com/embed/S4Xyn6UYFUo?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>
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Government

Scott Bessent Signals Liberation Day 2.0 Coming If Countries Don't Sign Trade Deals: 'President Trump Has Put Them On Notice'

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is reportedly in advanced talks to invest in a quantum computing startup.
What Happened: Nvidia is considering a major investment in PsiQuantum, reported Reuters (<a href="https://www.theinformation.com/articles/nvidia-talks-invest-quantum-startup-psiquantum">via</a> The Information).
Quantum technology could handle computations far beyond the capabilities of today's most advanced AI systems powered by Nvidia chips. PsiQuantum is working with the U.S. and Australian governments to build quantum computers in Chicago and Brisbane.
Unlike other quantum computing startups that depend on exotic materials, PsiQuantum leverages standard semiconductor manufacturing methods, the report said.
In March, Reuters reported that PsiQuantum is securing a minimum of $750 million in funding from investors such as BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), valuing the company at a $6 billion pre-money valuation.
See Also: <a href="https://www.benzinga.com/media/25/05/45460918/jensen-huang-led-nvidia-plans-new-shanghai-research-hub-to-stay-competitive-in-china-as-us-export-curbs-threaten-ai-chip-sales-report">Jensen Huang-Led Nvidia Plans New Shanghai Research Hub To Stay Competitive In China As US Export Curbs Threaten AI Chip Sales: Report</a> Why It&#8217;s Important: This would mark a notable change in direction for Nvidia. The chip giant's CEO, Jensen Huang, previously suggested practical quantum <a href="https://www.benzinga.com/25/03/44433571/jensen-huang-admits-mistake-says-i-was-wrong-about-quantum-computing-at-gtc-apology-fails-to-lift-rigetti-ionq-d-wave-qubt">computing was decades away</a>.
In March, however, Nvidia announced a quantum research lab in Boston in collaboration with Harvard and MIT.&nbsp;
Nvidia is scheduled to release its first-quarter earnings on May 28 after the market closes. According to <a href="https://www.benzinga.com/pro/login">Benzinga Pro</a>, analysts expect the company to post earnings of 89 cents per share on revenue of $43.07 billion.
Price Action: On Friday, Nvidia&#8217;s stock ended 0.4% higher at $135.40. 
Benzinga Edge Stock Rankings gives Nvidia a growth score of 95.02%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares with other leading tech 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 decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18233710/Screenshot-2025-05-19-at-9.07.05%E2%80%AFAM.png" alt="" class="wp-image-919141" /></a></figure>
Photo Courtesy: Hepha1st0s On Shutterstock.com
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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.

Media

Nvidia's Quantum Pivot? Jensen Huang-Led Chip Giant Reportedly Mulls Major Stake In PsiQuantum

Moody&#8216;s downgrade of U.S. debt from Aaa to Aa1 marks the country&#8217;s loss of its last <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">remaining top-tier rating</a>, prompting market experts to weigh in on potential impacts.
What Happened: CNBC&#8217;s Jim Cramer recalled on Sunday that &#8220;the market dropped 6.7% after the last downgrade back in 2011 but it, ultimately, meant nothing.&#8221; Despite weeks of market decline following that event, Cramer emphasized investors &#8220;had to stay the course.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As I write a draft for the CNBC investing club for our meeting on Wednesday i am mindful that the market dropped 6.7% after the last downgrade back in 2011 but it, ultimately, meant nothing and while the market kept falling for weeks you had to stay the course
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1924128885228085605?ref_src=twsrc%5Etfw">May 18, 2025</a></blockquote>
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Dan Niles, founder of Niles Investment Management, expects less severe market reactions this time. &#8220;Prior debt downgrades have been followed by S&amp;P drops of 8-10%,&#8221; Niles noted, adding that &#8220;today, tariff rollbacks is driving a pickup in the economy &amp; the decline should be less.&#8221;
Moody&#8217;s joins Fitch and Standard &amp; Poor&#8217;s in downgrading U.S. debt below the highest &#8220;triple-A&#8221; level. Fitch downgraded U.S. debt in August 2023, while S&amp;P&#8217;s historic first downgrade occurred in August 2011.
The 2011 S&amp;P downgrade shocked markets, coming after the S&amp;P 500 had doubled from its 2009 Great Financial Crisis lows. The index plunged 6.7% the following trading day, ultimately falling 8% from the downgrade in October 2011.
Fitch downgrade contributed to a 10% S&amp;P 500 decline from July to October 2023, exacerbated by inflation concerns and rising 10-year yields.
Niles believes current conditions differ significantly. &#8220;Unlike in 2023 or 2011, the economic environment is improving around this debt downgrade,&#8221; he wrote, citing reduced China tariffs driving trade resumption.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Prior debt downgrades have been followed by S&amp;P drops of 8-10%. In 2023 inflation concerns drove 10yr yields to the highest in a decade. In 2011, there were fears of a renewed EU debt crisis. Today, tariff rollbacks is driving a pickup in the economy &amp; the decline should be less.…
&mdash; Dan Niles (@DanielTNiles) <a href="https://twitter.com/DanielTNiles/status/1924261985887096946?ref_src=twsrc%5Etfw">May 19, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/05/45485137/bitcoin-skyrockets-soars-past-105000-mark-triggers-a-250-billion-market-rally">Bitcoin Skyrockets Past $105,000 Mark, Triggers $250 Billion Crypto Market Rally</a>
Why It Matters: Market support could come from retail investors experiencing FOMO (fear of missing out) and professional investors who missed the recent 20% rally from April lows. The AAII survey recently showed bulls surpassing bears for the first time during this rally, according to Niles.
Moody&#8217;s cited persistent fiscal deficits and rising government debt as key factors in its decision. The agency projects U.S. debt-to-GDP ratio will climb from <a href="https://www.benzinga.com/news/econ-s/25/05/45479078/moodys-downgrades-us-credit-rating-over-debt-deficit-concerns">nearly 100% in 2025 to around 130% by 2035</a>.
&#8220;Even in a very positive and low probability economic and financial scenario, debt affordability remains materially weaker than for other Aaa-rated sovereigns,&#8221; Moody&#8217;s stated.
The SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) both slipped in Friday&#8217;s after-hours trading following the announcement.
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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: katz / Shutterstock.com

Jim Cramer Recalls 2011's 6.7% Market Decline After US Debt Downgrade, Says It 'Ultimately Meant Nothing:' Dan Niles Sees Limited Downside Amid Tariff Rollbacks, FOMO

As criticism mounts over the Donald Trump administration's <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45390422/trump-unveils-historic-and-transformative-600-billion-saudi-deal-predicts-markets-will-go-a-lot-higher">AI chip deals with Gulf states</a>, David Sacks and Sam Altman are pushing back, calling the partnerships a strategic win over China.
What Happened: Trump announced multibillion-dollar AI partnerships between U.S. companies and Gulf nations, including Saudi Arabia and the UAE.
The deals involve major players like Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).
Despite <a href="https://www.benzinga.com/25/05/45459318/chuck-schumer-blasts-trump-for-backing-ai-chip-sales-to-saudi-arabia-uae-warns-deal-risks-us-tech-secrets-falling-into-chinas-hands">concerns from lawmakers</a> about potential Chinese access to U.S. AI chips via Gulf allies, Sacks, a tech investor and White House AI advisor, defended the initiative in a post on X, formerly Twitter.
"I'm genuinely perplexed how any self-proclaimed ‘China Hawk' can claim that President Trump's AI deals with UAE and Saudi Arabia aren't hugely beneficial for the United States," Sacks wrote.
See Also:&nbsp;<a href="https://benzinga.com/news/25/04/45090231/elon-musk-says-will-come-as-a-surprise-to-most-as-chinas-economy-surpasses-us-and-eu-amid-rising-tariffs-and" target="_blank" rel="noreferrer noopener">Elon Musk Says Will Come As A ‘Surprise To Most&#8217; As China&#8217;s Economy Surpasses US And EU Amid Rising Tariffs And Growing Recession Fears</a>
He cited semiconductor analyst Dylan Patel that the partnerships "will noticeably shift the balance of power" in the U.S.'s favor and asked critics: "Does China wish it had made these deals? Yes of course it does. But President Trump got there first and beat them to the punch."
Altman shared Sacks&#8217; post on X and echoed his view, stating, "This was an extremely smart thing for you all to do and I'm sorry naive people are giving you grief."
<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">this was an extremely smart thing for you all to do and i'm sorry naive people are giving you grief. <a href="https://t.co/iTkQj9c9QW">https://t.co/iTkQj9c9QW</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1923428713095479437?ref_src=twsrc%5Etfw">May 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It's Important: The Joe Biden administration had previously implemented <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">rules to restrict AI chip exports</a> to countries like Saudi Arabia and the UAE, citing national security risks.
However, those limits have now been rolled back, with new policies still in development, <a href="https://www.axios.com/2025/05/16/trump-ai-deals-gulf-chips-china-trade-policy">reported</a> Axios.
On Thursday, Senate Minority Leader Chuck Schumer (D-N.Y.) cautioned that Trump's backing of efforts to export sensitive U.S. AI chip technology to allies in the Persian Gulf might ultimately give an advantage to China.
Earlier, Nvidia CEO Jensen Huang warned that limiting access to China's AI market could <a href="https://www.benzinga.com/markets/25/05/45243129/nvidia-ceo-jensen-huang-says-losing-access-to-chinas-potential-50-billion-ai-market-would-be-a-tremendous-loss">harm the company, U.S. jobs</a>, and overall technological progress.
His remarks followed a report revealing that Nvidia has notified key Chinese clients — including Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance and Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) — that it is developing a <a href="https://www.benzinga.com/25/05/45182565/nvidia-designing-new-ai-chips-for-alibaba-bytedance-tencent-after-warning-us-export-ban-on-h20-could-cost-the-company-55-billion-report">modified version of its AI chip designed</a> to meet U.S. export restrictions.
Nvidia has earned a growth score of 95.02% from Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other top tech firms</a> like AMD, Qualcomm, Alibaba and Tencent.
<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 decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/18231701/Screenshot-2025-05-19-at-8.46.56%E2%80%AFAM.png" alt="" class="wp-image-919127" /></a></figure>
Photo Courtesy: twenty1studio On Shutterstock.com
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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.

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David Sacks Hails Trump's AI Strategy In Middle East As Power Move Over China — OpenAI CEO Sam Altman Backs Him: 'Sorry Naive People Are Giving You Grief'

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