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LUMENTUM HOLDINGS INC

Lumentum Holdings

Lumentum Holdings Inc is a California-based technology firm. The company provides two types of optical and photonic products: optical components that are used in telecommunications networking equipment, and commercial lasers for manufacturing, inspection, and life-science lab uses. Its segments are Optical Communications and Commercial Lasers. The firm is also expanding into new optical applications, such as 3-D sensing laser diode for consumer electronics. It generates maximum revenue from the OpComms segment. The OpComms segment products include a wide range of components, modules, and subsystems to support customers including carrier networks for access (local), metro (intracity), long-haul, and submarine (undersea) applications.

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The White House has dismissed the criticism of the budget bill by&nbsp;Elon Musk, asserting that the bill does not contribute to the deficit.
What Happened:&nbsp;White House press secretary&nbsp;Karoline Leavitt&nbsp;responded to Musk&#8217;s criticism during a Tuesday briefing. She affirmed that the President&#8217;s opinion remains firm despite Musk&#8217;s views, characterizing the bill as &#8220;one big, beautiful bill.&#8221;
"It doesn't change the President's opinion. This is one big, beautiful bill, and he's sticking to it," stated Leavitt.
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Leavitt further emphasized the administration&#8217;s belief that it is &#8220;blatantly wrong&#8221; to suggest that the bill adds to the deficit. This was in response to the nonpartisan Congressional Budget Office&#8217;s report, which suggested that the budget package could inflate the deficit by $3.8 trillion over the forthcoming decade. Leavitt accused the office of harboring a bias against Republicans.
House Speaker&nbsp;Mike Johnson&nbsp;also stood by the bill, asserting that Musk was &#8220;terribly wrong&#8221; about it. Johnson, a Republican from Louisiana, promised that Congress would integrate some of DOGE&#8217;s proposed government-spending cuts into a rescissions package. 
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45716383/trump-administration-shuts-down-66-million-food-stamp-fraud-and-bribery-scheme-arrests-usda-employee-and-5-others" target="_blank" rel="noreferrer noopener">Trump Administration Shuts Down A $66 Million Food Stamp Fraud And Bribery Scheme, Arrests USDA Employee And 5 Others &#8211; Benzinga</a>
Why It Matters: Musk&#8217;s criticism of the budget bill comes in the wake of his <a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">recent&nbsp;condemnation</a> of the bill as a &#8220;disgusting abomination&#8221;. The bill, which has been described by Musk as a &#8220;massive, outrageous, pork-filled&#8221; spending package, has stirred controversy among lawmakers and industry leaders.
Musk ended his <a href="https://www.benzinga.com/news/politics/25/06/45764329/130-days-of-elon-musk-elizabeth-warren-releases-blistering-report-accusing-tesla-ceo-of-more-than-100-power-abuses">130-day tenure</a> as DOGE leader a week ago.
Notably, the Wall Street Journal <a href="https://www.wsj.com/politics/policy/trump-seeks-congresss-approval-for-package-of-doge-cuts-09459efc">reported</a> that the White House has submitted a $9.4 billion rescissions package to Congress, seeking lawmakers&#8217; nod to reverse previously approved spending. The proposal includes $8.3 billion in foreign aid cuts and $1.1 billion from public media, needing only a simple majority to pass in the GOP-led Congress. Additionally, the administration is weighing the use of impoundment to reclaim funds without congressional approval, a move that could trigger a legal fight.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45763054/bitcoin-ethereum-dogecoin-slip-as-investors-anticipate-trump-jinping-call-too-early-for-an-eth-top-this-analyst-says-3000-is-on-target" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slip As Investors Anticipate Trump-Jinping Call: Too Early For An ETH Top? This Analyst Says $3000 Is On Target &#8211; Grayscale Bitcoin Mini Trust (BTC) Common units of fractio</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

White House Says Trump Is 'Sticking To' The 'Big, Beautiful Bill' Despite Elon Musk's Sharp Criticism: 'It Doesn't Change The President's Opinion'

On Tuesday, Sen. Elizabeth Warren (D-Mass.) blasted an AI provision in President Donald Trump's sweeping <a href="https://www.benzinga.com/general/health-care/25/05/45345409/trumps-big-beautiful-bill-banks-on-huge-medicaid-cuts-as-its-cost-saving-centerpiece-see-who-risks-losing-coverage-under-the-gop-proposal">tax-and-spending bill</a>, warning it could fuel rising rents and violate Senate procedural rules.
What Happened: Warren took to X, formerly Twitter, to criticize a section in the "One Big Beautiful Bill" that would bar states from regulating artificial intelligence for 10 years.
She argued the measure would shield companies like RealPage, a real estate tech firm, which she accused of using AI to help landlords coordinate rent increases.
"In the middle of a housing crisis, Republicans are sneaking lines into their big beautiful bill that could actually raise your rent," Warren said. "This policy violates the Senate's budget rules."
See also:&nbsp;<a href="https://www.benzinga.com/25/05/45343633/tesla-battery-supplier-catl-to-raise-4-billion-through-hong-kong-listing-report" target="_blank" rel="noreferrer noopener">Tesla Battery Supplier CATL Eyes Over $4B In Hong Kong Listing — Could Become 2025's Biggest IPO Yet</a>
RealPage's pricing software has been scrutinized for allegedly facilitating algorithmic rent-setting, which critics argue can act as a form of price-fixing.
Warren says that states and cities were starting to rein in such practices—until Republicans included a provision that would strip states of that power.
Her opposition adds pressure on Senate Democrats to challenge the provision before the bill reaches final approval. She urged Americans to contact their senators and demand the provision be removed, stating, "God knows your rent is high enough already."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Republicans snuck an AI regulation BAN into the "Big Beautiful Bill."   That means companies like Real Page can use AI to get around price fixing laws and RAISE YOUR RENT.   BUT this policy violates the Senate&#39;s budget rules.   I&#39;m calling foul — and fighting back to reject it. <a href="https://t.co/8F5h5CDKut">pic.twitter.com/8F5h5CDKut</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1930067143388717497?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
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Why It's Important: On Tuesday, Rep. Marjorie Taylor Greene (R-Ga.) also called for <a href="https://www.benzinga.com/news/politics/25/06/45763037/marjorie-taylor-greene-says-shes-adamantly-opposed-to-trumps-big-beautiful-bill-over-this-ai-provision-i-would-have-voted-no-if-i-had-kn">the removal of a contentious AI provision</a> from the tax-and-spending bill, warning she will oppose the legislation unless the Senate eliminates the measure from the final version.
&#8220;I am adamantly OPPOSED to this and it is a violation of state rights and I would have voted NO if I had known this was in there,&#8221; she stated in a post on X.
Previously, a bipartisan group of state attorneys general also voiced their opposition. South Carolina Attorney General Alan Wilson, a Republican, said that rather than offering real solutions, Congress is <a href="https://www.benzinga.com/25/05/45481745/donald-trump-backed-gop-bill-seeks-to-ban-states-from-regulating-ai-for-10-years-critics-warn-its-federal-overreach-that-could-backfire">trying to tie their hands</a>.
Photo Courtesy: Sheila Fitzgerald On Shutterstock.com
Read Next:
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<li><a href="https://benzinga.com/25/04/45071155/mild-recession-is-best-case-outcome-jpmorgan-ceo-jamie-dimon" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Warns Recession Is Best-Case Outcome Of Trump Trade War</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Regulations

Elizabeth Warren Warns AI Provision In Trump's 'Big Beautiful Bill' Could Enable Rent Hikes: 'This Policy Violates The Senate's Budget Rules'

Elon Musk&nbsp;has been accused of exploiting his role in the Trump administration to further his personal and business interests, according to a report released on Tuesday by the office of Sen.&nbsp;Elizabeth Warren (D-Mass).
What Happened: Titled &#8220;130 Days of Elon Musk,&#8221; the report scrutinizes Musk&#8217;s actions during his time as a &#8220;special government employee&#8221; under President Donald Trump. It alleges that Musk and his associates were involved in numerous questionable activities, raising concerns about corruption, ethics, and conflicts of interest.
The 14-page report lists over 100 instances where Musk is believed to have misused his position&nbsp;to gain favors for his private interests.&nbsp;The report accuses Musk of disregarding norms at an alarming rate and engaging in scandalous behavior, regardless of potential criminal prosecution.
Tesla did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
Warren&#8217;s team also accuses Musk of leveraging&nbsp;the federal government to promote&nbsp;his businesses, including Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), SpaceX and xAI. The report highlights the transformation of the White House lawn into a temporary Tesla showroom and the exploration of new lucrative contracts by the Trump administration and government agencies with Musk&#8217;s companies.
It also highlights six instances in which the Trump administration or federal agencies either halted enforcement actions against Musk&#8217;s companies or when the Department of Government Ethics (DOGE) intervened with agencies investigating those companies.
&#8220;Musk's&nbsp;companies have received or are&nbsp;being considered for large contracts&nbsp;with the federal government, with&nbsp;foreign governments, and with other&nbsp;private sector companies,&#8221; the report states.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45734749/after-4-months-elon-musk-learned-what-every-american-already-knows-says-ross-gerber-no-one-in-gover" target="_blank" rel="noreferrer noopener">After 4 Months, Elon Musk Learned What Every American Already Knows, Says Ross Gerber: &#8216;No One In Government Wants To Cut Any Budget&#8217;</a>
Why It Matters: The allegations against Musk come after a series of public calls by Warren for investigations into his activities. In May, Warren <a href="https://www.benzinga.com/markets/25/05/45664976/elizabeth-warren-demands-competitive-ai-contracting-at-pentagon-amid-silent-expansion-of-elon-musks-grok-how-does-dod-plan-to-ensure">urged </a>the Department of Defense to ensure competitive AI contracting, particularly in light of Musk&#8217;s AI chatbot, Grok, gaining traction within the federal government. The&nbsp;Senator did not specifically mention Grok, but highlighted the need for competitive AI contracting to prevent monopolization.
Furthermore, on June 2, 2025, Warren doubled down on her <a href="https://www.benzinga.com/cannabis/25/06/45715155/elizabeth-warren-calls-it-textbook-corruption-once-again-asks-for-probe-into-elon-musk-cashing-in-on-trump-tariffs">accusations </a>that Musk benefited from Trump&#8217;s tariffs, calling for a federal investigation into what she labeled &#8220;textbook corruption.&#8221; Warren alleged that Starlink, Musk&#8217;s satellite internet venture, received favorable foreign operating permits around the same time Trump imposed broad tariffs during trade negotiations.
Notably, Elon Musk ended his 130-day tenure as DOGE leader a week back and has been openly critical about Trump&#8217;s &#8216;Big, Beautiful Bill&#8217; on multiple occasions.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/news/politics/25/06/45763037/marjorie-taylor-greene-says-shes-adamantly-opposed-to-trumps-big-beautiful-bill-over-this-ai-provis" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Says She&#8217;s &#8216;Adamantly Opposed&#8217; To Trump&#8217;s &#8216;Big Beautiful&#8217; Bill Over This AI Provision: &#8216;I Would Have Voted NO If I Had Known This Was In There&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TSLA

'130 Days Of Elon Musk': Elizabeth Warren Releases Blistering Report Accusing Tesla CEO Of More Than 100 Power Abuses

Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) shareholders delivered a rebuke to CEO David Zaslav&#8216;s leadership on Tuesday, with over 59% voting against his $51.9 million compensation package for 2024 in the company&#8217;s annual &#8220;say-on-pay&#8221; ballot.
What Happened: The symbolic vote represents growing shareholder frustration with executive compensation at the media conglomerate, which has seen its stock plummet 59% since the April 2022 merger of AT&amp;T&#8217;s WarnerMedia and Discovery Communications created the company, The Wall Street Journal <a href="https://www.wsj.com/business/media/warner-discovery-shareholders-vote-against-ceo-david-zaslavs-pay-db679d1e?mod=hp_lead_pos6">reported</a>. More than 80% of shareholders participated in the non-binding vote.
Zaslav&#8217;s pay package rejection marks a significant deterioration from last year, when 50.8% of shareholders approved executive compensation. Corporate governance firm ISS considers anything below 70% approval as &#8220;low support.&#8221;
The compensation controversy comes as Warner Bros. Discovery faces mounting financial pressures. S&amp;P Global Ratings downgraded the company&#8217;s debt to junk status in May, <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/06/45731052/warner-bros-debt-downgrade-is-an-ironically-positive-event-analyst">citing challenges in its cable-network business</a> as consumers abandon traditional television for streaming services.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45763260/jim-cramer-says-trump-is-distorting-pretty-much-everything-and-thats-making-it-difficult-to-value-stocks-people-would-just-rather-be-short">Jim Cramer Says Trump Is &#8216;Distorting Pretty Much Everything&#8217; And That&#8217;s Making It Difficult To Value Stocks: &#8216;People Would Just Rather Be Short&#8217;</a>
Why It Matters: Warner&#8217;s cable networks, including CNN, Food Network, and Discovery Channel, continue experiencing rating and revenue declines. The company&#8217;s HBO Max streaming service, while profitable and adding subscribers, lags significantly behind industry leaders Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), the report noted.
Bank of America Securities analyst Jessica Reif Ehrlich <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/06/45731052/warner-bros-debt-downgrade-is-an-ironically-positive-event-analyst">maintains a Buy rating on Warner Bros. Discovery</a> with a $14 price target, calling the debt downgrade &#8220;ironically positive&#8221; for equity holders. Ehrlich argues the downgrade increases strategic flexibility by removing a &#8220;double-trigger&#8221; change of control covenant that previously limited strategic options.
Entertainment industry CEO compensation typically exceeds other sectors, according to the report. Netflix co-CEOs Ted Sarandos and Greg Peters each received over $60 million in 2024, while Disney&#8217;s Bob Iger earned $41.1 million. However, shareholders at both companies have previously rejected executive pay packages in similar non-binding votes.
WBD stock is showing positive momentum with an upward short- to long-term price trend, according to Benzinga Edge Stock Rankings. However, it faces challenges in growth and valuation. See <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">the full stock breakdown here</a>.
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="880" height="638" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021648/image-40.png" alt="" class="wp-image-937646" style="width:486px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021648/image-40.png 880w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021648/image-40-300x218.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021648/image-40-768x557.png 768w" sizes="(max-width: 880px) 100vw, 880px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45763451/jamie-dimon-said-us-should-buy-bullets-not-bitcoin-cynthia-lummis-says-the-us-military-disagrees-with-him">Jamie Dimon Said US Should Buy Bullets, Not Bitcoin — Cynthia Lummis Says The US Military &#8216;Disagrees&#8217; With Him</a></li>
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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: Elzbieta Krzysztof / Shutterstock.com

Equities

NFLX

Warner Bros Discovery Shareholders Reject CEO David Zaslav's $51.9 Million Pay Package Amid Stock Slump, Debt Downgrade

On Tuesday, Palantir Technologies pushed back against a report alleging the company is aiding the Donald Trump administration in building <a href="https://www.benzinga.com/news/25/06/45760755/trump-administration-silently-employs-palantir-to-gather-personal-data-of-each-american-raising-priv">detailed profiles of American citizens</a> using federal data.
What Happened: The New York Times reported that the Trump administration is using Palantir's Foundry platform to implement a March executive order that expands federal data sharing.
The report claims Foundry is being used by agencies such as the Department of Health and Human Services and the Social Security Administration to combine personal data, including bank records, medical claims and student debt, raising alarms about potential privacy violations.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45763363/nvidia-overtakes-microsoft-as-the-worlds-most-valuable-company-with-3-4-trillion-market-cap-as-morgan-stanley-reaffirms-top-pick-status">Nvidia Overtakes Microsoft As The World&#8217;s Most Valuable Company With $3.4 Trillion Market Cap As Morgan Stanley Reaffirms Top Pick Status</a>
Palantir strongly denied the report, calling it "blatantly untrue."
In a statement posted on X, formerly Twitter, the company said, "Palantir never collects data to unlawfully surveil Americans, and our Foundry platform employs granular security protections. If the facts were on its side, the New York Times would not have needed to twist the truth."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The recently published article by the New York Times is blatantly untrue. Palantir never collects data to unlawfully surveil Americans, and our Foundry platform employs granular security protections. If the facts were on its side, the New York Times would not have needed to…
&mdash; Palantir (@PalantirTech) <a href="https://twitter.com/PalantirTech/status/1929863830441542125?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
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The report also revealed internal concerns at Palantir, with 13 former employees signing a letter urging the company to cut ties with the Trump administration.
The Times did not immediately respond to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comments. Why It's Important: Palantir shares have surged <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45655507/tech-analyst-expects-palantir-stock-to-rise-above-400-as-ai-revolution-kicks-into-gear">more than 500% in the past</a> 12 months, fueled by the company's strong foothold in the AI sector.
The company currently has a market cap of $311.60 billion, making it the 30th most valuable company in the world.
In May, Palantir reported <a href="https://www.benzinga.com/news/earnings/25/05/45208000/palantir-q1-earnings-revenue-beat-eps-in-line-customer-count-up-39-company-raises-guidance-citing-surging-and-ferocious-growth">first-quarter revenue</a> of $883.86 million, surpassing <a href="https://www.benzinga.com/calendars/earnings">analyst expectations</a> of $862.83 million. Adjusted earnings came in at 13 cents per share, matching forecasts.
This marked the seventh consecutive quarter in which Palantir has met or outperformed analyst projections for both revenue and earnings.
Price Action: Palantir shares have climbed 77.11% year-to-date. As of the time of writing, the stock was trading at $133.19 in after-hours, up 0.015%, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings highlight Palantir&#8217;s strong price momentum across short-, medium and long-term timeframes. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More in-depth metrics are available here</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/2025/06/04022206/Screenshot-2025-06-04-at-11.50.00%E2%80%AFAM.png" alt="" class="wp-image-937656" /></a></figure>
Photo: Courtesy: Sundry Photography / Shutterstock
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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.

Tech

Palantir Says It Doesn't 'Unlawfully' Spy On Americans, Calls Report Alleging Use By Trump Administration For Surveillance 'Blatantly Untrue'

LOGI

Logitech Announced Signature Slim Wired MK620 & MK625 Combo For Business, A Revamped Keyboard And Mouse Duo Designed For Companies And Industries That Require Wired Technology For Reliability, Physical Security, Or Shared Workspaces, And Need To Switch Between PC, MacOS, and ChromeOS

Buybacks

Royal Philips Announced That It Will Repurchase Up To 6M Shares To Cover Certain Of Its Obligations Arising From Its Long-term Incentive Plans Representing An Amount Of Up To Approximately EUR 125M

Nokia Has Been Selected To Lead PROACTIF, A Project Funded By The European Union's Chips Joint Undertaking

Fresh Del Monte's patented Pinkglow Pineapple Debuts In The UAE With Talabat Mart As Exclusive Delivery Partner

Gerber Kawasaki's CEO and Co-Founder, Ross Gerber, has criticized Tesla Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) FSD or Full Self-Driving technology ahead of the anticipated <a 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">June 12 Robotaxi launch</a>.
What Happened: Gerber shared an anecdote in a post on X on Tuesday about a colleague who owned the new Tesla Model Y as the pair drove through Santa Monica traffic.
"He thought we could get through Santa Monica no problem on FSD," Gerber said before adding that they experienced three disengagements on their three-mile-long route.
"Two were critical, one involved an emergency vehicle the tesla didn&#8217;t hear&#8230;&nbsp; one was a bus it cut in front of as we were in the wrong lane to turn," Gerber noted and said that the company has "a lot of work to do on FSD for it to work."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Had a little bet with someone at work who has a new Model Y with FSD. He thought we could get through Santa Monica no problem on FSD. I said no chance. We had 3 disengagements in 3 miles of driving. Two were critical, one involved an emergency vehicle the tesla didn&#39;t hear&#8230;…
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1929980004596887755?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
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In a separate post, Gerber hailed Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo during the ride with his colleague. "Meanwhile the Waymos are whipping by us no problem&#8230; Same ride…" Gerber said in the post.
He admitted that he was "annoyed" that "the waymos are way better than the teslas…"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Meanwhile the Waymos are whipping by us no problem&#8230; Same ride&#8230; have to say it makes me a bit annoyed the waymos are way better than the teslas&#8230; <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1929980237665976767?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
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Why It Matters: Gerber has been a vocal critic of the EV giant's autonomous driving tech on several occasions, with the <a href="https://www.benzinga.com/25/05/45511328/ross-gerber-slams-teslas-fsd-technology-ahead-of-robotaxi-launch-maintains-bearish-views-on-elon-musks-company-after-dumping-10-stake-in-q1-2025">investor criticizing the technology </a>when driving his Cybertruck.
Gerber also dumped 26,000 shares of Tesla amid a trend that sees several experts, including ARK Investments' Cathie Wood and Future Fund LLC's managing director, Gary Black, <a href="https://www.benzinga.com/tech/25/05/45665076/gary-blacks-future-fund-sells-remaining-tesla-stock-reitrates-310-price-target-tslas-valuation-has-become-disconnected">dumping their Tesla positions</a>. Gerber, however, has said he <a href="https://www.benzinga.com/tech/25/05/45663281/despite-bearish-views-ross-gerber-says-tesla-stake-remains-weve-continued-lowering-our-exposure">still holds Tesla stock</a>.
Elsewhere, the investor has hailed Tesla's Robotaxi launch in Austin as a <a href="https://www.benzinga.com/markets/equities/25/05/45637969/tesla-waymo-to-face-first-head-to-head-competition-for-robotaxis-ross-gerber-says-ahead-of-austin-launch-fascinating-to-watch">pivotal moment for the autonomous ride-sharing </a>sector in the U.S. "I find it fascinating to watch the different approaches to autonomy from Tesla and Waymo," he said in a post on X.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="198" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021515/TSLA-JUN-4-2025-1024x198.jpg" alt="" class="wp-image-937644" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021515/TSLA-JUN-4-2025-1024x198.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021515/TSLA-JUN-4-2025-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021515/TSLA-JUN-4-2025-768x148.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021515/TSLA-JUN-4-2025-1536x297.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04021515/TSLA-JUN-4-2025.jpg 1547w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
TSLA scores well on Momentum, Growth, and Quality metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/06/45741036/tesla-needs-to-consider-a-more-conventional-looking-pickup-truck-says-gary-black-amid-cybertruck-sales-slump">Tesla Needs To Consider A &#8216;More Conventional-Looking&#8217; Pickup Truck Says Gary Black Amid Cybertruck Sales Slump</a></li>
</ul>
Photo courtesy: Ken Wolter / Shutterstock.com

GOOG

GOOGL

Ross Gerber Says Tesla Has 'Lot Of Work To Do' On FSD Ahead Of Robotaxi Launch: 'Waymos Are Way Better'

The MOU includes approval to drill up to 20 additional wells in the Jubilee field, representing investment of up to $2 billion in Ghana over the life of the licenses. As a result of the extension, the JV partnership expects to realize a material increase in gross 2P reserves.

Kosmos Joins Government Of Ghana And JV Partners In MOU To Invest Up To $2B And Drill 20 New Jubilee Wells

Elon Musk has dismissed a report that valued SpaceX at $480 billion, calling it &#8220;too high&#8221; for where the company is at present. In a separate post on X, the billionaire said that the company will reach an important revenue milestone in 2026.
What Happened: "I have no idea how they're arriving at this valuation. Sounds too high for where SpaceX is today," Musk said in a post on social media platform X on Tuesday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have no idea how they're arriving at this valuation. Sounds too high for where SpaceX is today.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1929944955239403611?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
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Musk was responding to a post that claimed that SpaceX had reached a current valuation of $480 billion, up from $350 billion.
Also Read: <a href="https://www.benzinga.com/25/05/45249164/elon-musks-mars-ambitions-take-flight-as-spacex-gets-faa-approval-for-texas-starship-launches">Elon Musk&#8217;s Mars Ambitions Take Flight As SpaceX Gets FAA Approval For Texas Starship Launches</a>
The billionaire also shared his thoughts on SpaceX's predicted revenue. Musk highlighted the "interesting milestone" in a separate post on X on Tuesday.
"@SpaceX commercial revenue from space will exceed the entire budget of @NASA next year. SpaceX revenue this year will be ~$15.5B, of which NASA is ~$1.1B," Musk said in the post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Perhaps an interesting milestone: <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> commercial revenue from space will exceed the entire budget of <a href="https://twitter.com/NASA?ref_src=twsrc%5Etfw">@NASA</a> next year. SpaceX revenue this year will be ~$15.5B, of which NASA is ~$1.1B.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1929950051415273504?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
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Interestingly, official documents from NASA <a href="https://www.nasa.gov/fy-2026-budget-request/">show</a> the space agency's budget has been slashed by the Trump administration to over $18.8 billion for FY 2026.
Why It Matters: SpaceX has doubled down on its efforts to reach Mars, with the company recently testing its flagship rocket Starship, a key element in Musk's ambition to colonize the red planet. However, <a href="https://www.benzinga.com/general/space/25/05/45636692/elon-musks-mars-ambitions-face-new-setback-as-spacex-starship-test-flight-fails">the test failed</a> as the rocket spun out of control 30 minutes into the launch.
It's worth noting that Musk's NASA prediction comes in as U.S. President Donald Trump <a href="https://www.benzinga.com/cannabis/25/06/45715861/donald-trump-withdraws-jared-isaacmans-nomination-for-nasa-administrator-says-new-nominee-would-put-america-first-in-space">withdrew the nomination</a> of Jared Isaacman for the NASA administrator job, citing previous political associations. Interestingly, Isaacman shared Musk's <a href="https://www.benzinga.com/general/space/25/04/44730104/trumps-nasa-chief-pick-isaacman-tells-senate-we-will-prioritize-sending-american-astronauts-to-mars">ambition to reach Mars</a>.
"We will prioritize sending American astronauts to Mars," Isaacman had previously stated.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
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<li><a 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">Elon Musk Says SpaceX&#8217;s Starship Can Reach Mars In 6 Months: &#8216;When The Planets Align&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

Elon Musk Dismisses Reports That SpaceX Is Valued At $480 Billion, Says It Sounds 'Too High:' Predicts Its Revenue Will Exceed NASA's Budget In 2026

CSC, SURF and Nokia Achieve 1.2 Tbit/s Data Transfer to prepare long haul network for new LUMI-AI supercomputer and AI Factories
<ul>
<li>Trial helps researchers prepare network for high performance computing (HPC) clusters and AI Factories handling massive datasets and high-intensity workloads.</li>
<li>Results confirm that multi-domain, high-capacity data transfers across European research networks are both feasible and future-ready.</li>
</ul>

CSC, SURF And Nokia Achieve 1.2 Tbit/S Data Transfer Between Amsterdam And Kajaani To Prepare For LUMI-AI Supercomputer And AI Factories

SSNC

Reported Earlier, Fundhost Selects SS&C To Support Fund Services Operations Including Unit Registry And Fund Administration

Reported Earlier, Avista Enacts Fire Safety Mode For Summer, Halts Automatic Re-Energizing To Reduce Wildfire Risk

Reported Earlier, Kayne Anderson Energy Infrastructure Fund Posts $2.3B In Net Assets And $13.79 NAV As Of May 31, 2025

<ul>
<li>Denifanstat (ASC40), a once-daily oral fatty acid synthase (FASN) inhibitor, demonstrated statistically significant and clinically meaningful improvement compared to placebo in all primary, key secondary, and secondary endpoints</li>
<li>Denifanstat demonstrated a favorable safety and tolerability profile</li>
<li>Denifanstat was 98% and 178% more effective than U.S. Food and Drug Administration (FDA)-approved sarecycline and doxycycline with regard to placebo-adjusted percent treatment success, respectively, 18.6% for denifanstat versus 9.4% for sarecycline, 18.6% versus 6.7% for doxycycline</li>
<li>Denifanstat was 60% more effective than FDA-approved clascoterone cream with regard to placebo-adjusted percent treatment success, 18.6% for denifanstat versus 11.6% for clascoterone cream, respectively</li>
<li>The exceptional efficacy of denifanstat coupled with its favorable safety profile in the Phase III trial provides a potential major break-through for the treatment of acne</li>
</ul>

SGMT

Reported Earlier, Ascletis' Denifanstat, Licensed From Sagimet, Meets All Endpoints In Phase III Trial For Moderate To Severe Acne

Jack Dorsey, co-founder and executive chair of Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), reiterated the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-only strategy of its "Cash App" digital wallet service on Tuesday.
What happened: Dorsey took to X, stating, "We are Bitcoin only. And improving rapidly,&#8221; in response to a post that praised Cash App's Bitcoin features
The quoted post, by a Bitcoin maxi named HFSP.eth &#x7C; ₿itcoin Only, said that Cash App allows users to convert their direct deposits (e.g., paychecks)&nbsp; into Bitcoin without any fees or spread, i.e., the difference between buy and sell prices that platforms often charge.&nbsp;
"It&#8217;s the absolute best way to accumulate Bitcoin," the user said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">we are bitcoin only. and improving rapidly. <a href="https://t.co/BbqBUSmhId">https://t.co/BbqBUSmhId</a>
&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1929974987093393442?ref_src=twsrc%5Etfw">June 3, 2025</a></blockquote>
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The post also mentioned that the withdrawal caps on Bitcoin increased to $10,000 per day and $25,000 per week, calling it a &#8220;huge improvement.&#8221; Previously, users were allowed to withdraw up to $2,000 worth of Bitcoin in a day and up to $5,000 in a week.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740537/forget-dollars-willy-woo-says-bitcoin-will-be-priced-against-global-gdp-gold-used-to-be-that-money-btc-is-the-challenger">Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — &#8216;Gold Used To Be That Money, BTC Is The Challenger&#8217;</a>
Why It Matters: Dorsey's commitment aligned with the company's push to expand its Bitcoin-related offerings.
The fintech firm <a href="https://www.benzinga.com/25/04/44727594/jack-dorseys-block-is-making-it-easy-for-companies-to-manage-their-bitcoin-treasuryheres-how">launched a dashboard</a> in April to help companies effectively manage their Bitcoin corporate holdings. It also announced <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44942475/jack-dorsey-says-major-changes-coming-to-blocks-self-custody-bitcoin-wallet-what-to-expect">major changes</a> to its self-custody Bitcoin wallet, focusing on improved safety, privacy, and usability.
Block was also gearing up for the delivery of its<a href="https://www.benzinga.com/25/05/45158116/jack-dorsey-upbeat-on-blocks-bitcoin-mining-chip-delivery-in-h2-2025-as-industry-faces-disruptions-due-to-high-chinese-equipment-tariffs"> first Bitcoin mining hardware</a> in the second half of the year.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $105,431.31, down 0.03% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Shares of Block rose 0.14% in after-hours trading after closing 2.83% higher at $63.51 during Tuesday&#8217;s regular session.
The stock exhibited a very high growth score—a measure of the stock's combined historical expansion in earnings and revenue across multiple periods. How does it compare with Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and other cryptocurrency-related stocks? 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> and find out.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="445" height="186" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04020443/image-39.png" alt="" class="wp-image-937634" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04020443/image-39.png 445w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/04020443/image-39-300x125.png 300w" sizes="(max-width: 445px) 100vw, 445px" /></a></figure>
Photo Courtesy: Frederic Legrand &#8211; COMEO on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45739199/american-politicians-dont-believe-bitcoin-can-co-exist-peacefully-with-the-dollar-says-this-popular-btc-maximalist-heres-why">American Politicians Don&#8217;t Believe Bitcoin Can &#8216;Co-Exist Peacefully&#8217; With The Dollar, Says This Popular BTC Maximalist: Here&#8217;s Why</a></li>
</ul>

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

Cryptocurrency

$BTC

COIN

Jack Dorsey Touts 'Bitcoin Only' Cash App, Says Block's Wallet 'Improving Rapidly'

Reported Earlier, Brookfield Renewable To Issue C$250M Of Green Subordinated Hybrid Notes Due 2055 At 5.373% Rate

Reported Earlier, Gallagher Named Official Insurance Broker For The All Blacks, Black Ferns, Māori All Blacks, And Sevens Teams

Press Releases

Lumentum to Showcase Cutting-Edge Optical Innovations for Cloud, AI, and Networking Infrastructure at OFC 2025

Lumentum and Marvell Showcase Industry's First Integrated 450G High-Speed Optical Interface at OFC 2025

Lumentum Unveils New Transceivers to Double Fiber Capacity Across Wide Range of Transmission Distances

Lumentum Showcases Next-Generation InP Chip Solutions Enabling Scalable AI Data Centers at OFC 2025

Lumentum Announces Inducement Grants Under Listing Rule 5635(c)(4) of The Nasdaq Stock Market

Lumentum Earns EcoVadis Platinum Medal for Third Consecutive Year

Lumentum to Announce Fiscal Third Quarter 2025 Financial Results on May 6, 2025

Lumentum Announces Upcoming Investor Events

Lumentum Announces Fiscal Third Quarter 2025 Financial Results

Lumentum Announces Inducement Grant Under Listing Rule 5635(c)(4) of The Nasdaq Stock Market

Applied Optoelectronics, Inc. - Common Stock

Applied Optoelectronics

Adtran Holdings

Arista Networks

Aviat Networks

Calix

Ciena

Clearfield

CommScope Holding Company, Inc. - Common Stock

CommScope Holding Co

Cisco Systems

Digi Intl

Ericsson - American Depositary Shares each representing 1 underlying Class B share

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