TeraWulf (NASDAQ:WULF) Bolsa

TERAWULF INC

TeraWulf

TeraWulf Inc is a digital asset technology company that is engaged in digital infrastructure and sustainable energy development. It is involved in supporting environmentally conscious bitcoin mining operations by developing and operating facilities within the United States. The company's bitcoin mining facilities are powered by clean, affordable, and reliable energy sources. Its primary source of revenue stems from the mining of bitcoin conducted at the company's mining facility sites. Additionally, the company occasionally generates revenue through the provision of miner hosting services to third-party entities.

TeraWulf Inc

News

MXCT

MaxCyte And Ori Biotech Partner To Streamline Cell Therapy Manufacturing With Integrated ExPERT And IRO Platforms

Reported Earlier, Brown & Brown Prices $4B Public Offering Of 39,215,686 Common Stock At $102 Per Share To Help Fund RSC Acquisition

The ASYMTEK Vantage Dispensing system equipped with IntelliJet Jetting system reduced underfill voids and decreased cycle time by almost 30%.

NDSN

Reported Earlier, Nordson And PTI Push Packaging Innovation With High-Yield, Low-Warpage Panel-Level Dispensing For Advanced Semiconductors

A fan page of Vice President JD Vance asked Americans on social media whether they would thank Elon Musk after the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO reportedly lost $113 billion while leading government efficiency efforts. Musk responded Tuesday with a simple &#8220;Worth it&#8221; on X.
What Happened: The fanpage wrote: &#8220;Elon Musk lost 25% of his fortune, approximately $113 billion, while leading efforts to streamline the U.S. government. Are you willing to give Elon Musk a heartfelt &#8216;thank you&#8217;? A. Hell yes B. No.&#8221;
Bloomberg and Forbes data confirm Musk&#8217;s net worth dropped approximately $113-121 billion during his 2025 Department of Government Efficiency (DOGE) role. Tesla&#8217;s stock price suffered as investors questioned Musk&#8217;s divided attention between his companies and government work.
The wealth decline stems from multiple factors beyond Musk&#8217;s political involvement. Market competition and potential Trump administration tariffs have pressured Tesla&#8217;s valuation. Tesla stock represents Musk&#8217;s primary wealth source, making the company&#8217;s performance critical to his net worth.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Worth it <a href="https://t.co/fQk2ULx7jh">https://t.co/fQk2ULx7jh</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1932592159099924509?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45876224/youtube-contributed-55-billion-to-us-gdp-new-report-reveals-the-creator-economy-is-just-getting-started-says-ceo-neal-mohan">YouTube Contributed $55 Billion To US GDP, New Report Reveals: &#8216;The Creator Economy Is Just Getting Started,&#8217; Says CEO Neal Mohan</a>
Why It Matters: The exchange comes amid escalating tensions between President Donald Trump and Musk. Trump has privately called Musk a &#8220;big-time drug addict&#8221; in <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">conversations with allies</a>, according to The Washington Post. 
The feud intensified after Musk criticized Trump&#8217;s budget legislation and suggested impeachment, while Trump threatened to cancel federal <a href="https://www.benzinga.com/markets/25/06/45873939/elon-musk-recently-said-yes-to-impeaching-trump-and-the-odds-of-that-happening-in-2025-rose-on-this">contracts with Musk&#8217;s companies</a>.
The dispute has implications for Musk&#8217;s SpaceX and Tesla operations, particularly regarding federal contracts. Trump withdrew NASA administrator nominee Jared Isaacman, Musk&#8217;s preferred candidate, further straining relations between the <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">billionaire and the administration</a>.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/macro-notification/25/06/45876366/howard-lutnick-says-us-and-china-reached-a-framework-to-implement-geneva-consensus-following-trump-xi-call-csi-300-index-gains">Howard Lutnick Says US And China &#8216;Reached A Framework&#8217; To Implement Geneva Consensus Following Trump-Xi Call — CSI 300 Index Gains</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: Joshua Sukoff / Shutterstock.com

Politics

TSLA

Elon Musk Took A $113 Billion Hit Over Trump's DOGE Mission: Calls It 'Worth It'

Ark Invest, led by Cathie Wood, has a bold new forecast for SpaceX, outlining a multitrillion-dollar future built on rockets, robots, and orbital internet.
What Happened: In collaboration with research firm Mach33, Ark unveiled a comprehensive, open-source model on Tuesday, forecasting a $2.5 trillion enterprise value for SpaceX by 2030, or a compounded annual growth rate of 38% since its last known valuation of $350 billion in 2024.
Using a Monte Carlo simulation with over one million iterations, ARK estimates a bear-case valuation of approximately $1.7 trillion, a bull-case scenario of $3.1 trillion, and the base-case at $2.5 trillion, projecting returns of 385.71%, 785.71% and 614.28% over 5 years, respectively.
&#8220;This estimate is our expected enterprise value for SpaceX in 2030,&#8221; the firm stated. The forecast incorporates 17 independent variables and reflects ARK's &#8220;biases and long-term positive view of the company.&#8221;
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45876683/elon-musk-hails-austin-for-robotaxi-launch-as-waymo-suspends-operations-in-downtown-la-amid-anti-ice-protests">Elon Musk Hails Austin For Robotaxi Launch As Waymo Suspends Operations In Downtown LA Amid Anti-ICE Protests</a>
Central to this thesis is the projected growth of Starlink, SpaceX's satellite broadband business, which ARK believes could generate $300 billion in annual revenue once the constellation is complete, which is expected by 2035, and would account for 15% of total global communications spending.
The analysis also factors in the company&#8217;s Mars ambitions. It believes that once Starlink matures, with steady cash flows, SpaceX can divert resources toward building Martian infrastructure using &#8220;Mars-adapted Optimus Robots (Optimi).&#8221;
It delves heavily into the minutiae of the company&#8217;s operations, accounting for the productivity gains that come from reusable Starship rockets, the economics of Starlink&#8217;s bandwidth, with satellite performance measured in gigabits per kilogram, to arrive at its conclusions.
Wright&#8217;s Law plays a significant role in the firm&#8217;s forecasts, which essentially refers to projecting cost declines as a function of cumulative production.
Ark, nonetheless, covers the risks involved with its thesis, noting that &#8220;space is an inherently challenging domain with significant execution risk,&#8221; while other events such as CEO Elon Musk&#8217;s sudden departure or the failure to scale Optimus, could materially impact outcomes.
Why It Matters: Musk&#8217;s recent feud with President Donald Trump created significant headwinds for SpaceX, given its reliance on government contracts, which Trump <a href="https://www.benzinga.com/news/politics/25/06/45828038/trump-vs-musk-trump-hints-at-canceling-musks-contracts-well-take-a-look-at-everything-hes-got-a-lot-of-money-heres-how-musk-responded">threatened to cancel</a> last week.
However, Musk has <a href="https://www.benzinga.com/news/politics/25/06/45830411/elon-musk-flexes-spacex-advantage-in-feud-with-trump-we-have-got-the-spaceships-and-they-do-not-gets-support-from-this-republican">since hit back</a>, posting on X that &#8220;whatever happens, we have got the spaceships, and they do not,&#8221; a subtle dig aimed at both the President and Bezos.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whatever happens, we have got the spaceships, and they do not
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1931806069220954360?ref_src=twsrc%5Etfw">June 8, 2025</a></blockquote>
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Early this week, it was reported that NASA and Pentagon officials have been <a href="https://www.benzinga.com/markets/tech/25/06/45831309/why-jeff-bezos-might-emerge-as-the-biggest-winner-in-the-trump-musk-feud">urging Musk&#8217;s competitor</a>, Jeff Bezos, and his Blue Origin to expedite the development of alternative rockets and spacecraft. 
SpaceX is a privately held company, but investors looking for exposure to the stock can do so via private market ETFs such as the Ark Venture Fund (NASDAQMUTFUND: ARKVX), the ERShares Private-Public Crossover ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XOVR#NASDAQ">XOVR</a>) and the Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>) 
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<td class="has-text-align-center" data-align="center">Stock / ETF</td>
<td class="has-text-align-center" data-align="center">Year-To-Date Performance</td>
<td class="has-text-align-center" data-align="center">SpaceX Holdings</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Ark Venture Fund (NASDAQMUTFUND: ARKVX)</td>
<td class="has-text-align-center" data-align="center">+3.44%</td>
<td class="has-text-align-center" data-align="center">13.25%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">ERShares Private-Public Crossover ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XOVR#NASDAQ">XOVR</a>)</td>
<td class="has-text-align-center" data-align="center">+1.22%</td>
<td class="has-text-align-center" data-align="center">9.54%</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>)</td>
<td class="has-text-align-center" data-align="center">-27.92%</td>
<td class="has-text-align-center" data-align="center">52.4%</td>
</tr>
</tbody>
</table>
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Price Action: Shares of the Ark Venture Fund were up 0.23% on Tuesday, trading at $30.70.
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45876375/elon-musk-says-tesla-robotaxi-rides-begin-june-22-in-austin-full-self-driving-to-enable-home-delivery-by-june-28-were-being-super-paranoid">Elon Musk Says Tesla Robotaxi Rides Begin June 22 In Austin, Full Self-Driving To Enable Home Delivery By June 28: &#8216;We&#8217;re Being Super Paranoid&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock/JHVEPhoto

SPACE

Startups

DXYZ

XOVR

Cathie Wood's ARK Invest Projects $2.5 Trillion Valuation For Elon Musk's SpaceX By 2030—7x Growth Through Mars, Starlink, Optimus

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) executives Craig Federighi, Senior Vice President of Software Engineering and Greg Joswiak, Senior Vice President of Worldwide Marketing, have addressed <a href="https://www.benzinga.com/media/25/03/44207932/apple-delays-next-gen-siri-its-going-to-take-us-longer-than-we-thought-to-deliver-ai-upgrades">the delay of the promised</a> Siri upgrade, explaining that the company chose reliability over meeting an initial deadline.
What Happened: At <a href="https://www.benzinga.com/news/24/07/39665558/apples-most-awaited-siri-ai-upgrade-will-not-come-until-2025-report">WWDC last year</a>, Apple revealed plans for an upgraded Siri that would have context awareness and the ability to take actions within apps.
However, in March 2025, Apple spokesperson Jacqueline Roy confirmed the delay, stating, &#8220;We&#8217;ve also been working on a more personalized Siri, giving it more awareness of your personal context, as well as the ability to take action for you within and across your apps.&#8221;
Adding, &#8220;It&#8217;s going to take us longer than we thought to deliver on these features, and we anticipate rolling them out in the coming year.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/media/25/03/44350512/apples-ai-crisis-reaches-boiling-point-ahead-of-top-100-executive-retreat-tim-cook-and-key-execs-called-out-over-siri-failure-by-top-analyst" target="_blank" rel="noreferrer noopener">Apple's AI Crisis Reaches Boiling Point Ahead Of Top 100 Executive Retreat — Tim Cook And Key Execs Called Out Over Siri Failure By Top Analyst</a>
On Tuesday, in an interview with the Wall Street Journal, Apple's two top executives pushed back on rumors that the revamped Siri showcased at WWDC was just "demoware," stressing that the software was real but didn't meet the company's quality standards in time for a broader release.
Federighi said that the company had developed a two-phase architecture to upgrade Siri, with an initial version already functional ahead of the WWDC showcase. However, He acknowledged that the system didn't meet Apple's reliability standards in time for a full rollout.&nbsp;
&#8220;It didn&#8217;t converge in the way, quality-wise, that we needed it to,&#8221; he stated.
Joswiak, Apple's marketing chief, echoed this sentiment. "There's this narrative out there that it was just demoware—no," he said.&nbsp;
&#8220;We don&#8217;t wanna disappoint customers. We never do. But it would&#8217;ve been more disappointing to ship something that didn&#8217;t hit our quality standard, that had an error rate that we felt was unacceptable,&#8221; he continued, adding, &#8220;So we made what we thought was the best decision. I&#8217;d made it again.&#8221;
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Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: The <a href="https://www.benzinga.com/tech/25/03/44068020/apples-ai-crisis-falling-behind-in-the-ai-race">delay comes as tech rivals</a> 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>) Google and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) ramp up efforts to advance their AI-powered voice assistants.
Earlier this year, it was reported that Apple <a href="https://www.benzinga.com/media/25/03/44429160/apple-stock-down-over-12-this-year-now-tim-cook-is-reportedly-betting-on-vision-pros-mike-rockwell-to-fix-siri-after-losing-confidence-in-ai-boss-john-giannandrea">decided to shift responsibility</a> for Siri from AI chief John Giannandrea to Mike Rockwell, the executive behind the Vision Pro.
The change came after prolonged delays and missed targets tied to Apple Intelligence. Internally, the situation was described as chaotic, with developers unclear on timelines for major feature rollouts.
These issues are said to have led Tim Cook to question Giannandrea's ability to deliver.
Meanwhile, Goldman Sachs continues to <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45860365/goldman-sachs-stays-bullish-on-apple-despite-post-wwdc25-stock-dip-sees-25-upside">hold a bullish outlook</a> on Apple despite the stock dipping after its WWDC 2025 keynote on Monday. Notably, Siri received only a <a href="https://www.benzinga.com/markets/tech/25/06/45846510/apple-wwdc-2025-from-live-translation-to-genmoji-visual-ai-and-chatgpt-integration-here-are-the-new-apple-intelligence-features">few mentions this year</a>, significantly down from the 54 times it was referenced during WWDC 2024.
Price Action: Apple shares ended Tuesday at $202.67, up 0.61% during regular trading. In after-hours, the stock saw a further modest gain of 0.11%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings indicate a downward trend for Apple 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 detailed performance data is 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/2025/06/11013817/Screenshot-2025-06-11-at-11.04.15%E2%80%AFAM.png" alt="" class="wp-image-945570" /></a></figure>
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/legal/25/03/44344993/apple-reportedly-fights-uk-governments-unacceptable-encryption-order-behind-closed-doors-no-press-or-public-allowed" target="_blank" rel="noreferrer noopener">Apple Reportedly Fights UK Government&#8217;s ‘Unacceptable&#8217; Encryption Order Behind Closed Doors — No Press Or Public Allowed</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: Prathmesh T on Shutterstock.com

Equities

Markets

Tech

Media

AAPL

AMZN

GOOG

GOOGL

Apple Executives Say Reliability Took Priority Over Deadline Amid Siri Delay: 'It Would've Been More Disappointing To Ship Something That Didn't Hit Our Quality Standard'

e.l.f. Teams Up With San Diego Wave FC And Kansas City Current To Deliver Fan-First Soccer Activations Celebrating Women In Sport

<ul>
<li>Strategic capital raise with proceeds used to enhance strategic flexibility, including debt refinancing</li>
<li>A portion of the proceeds to be used to pay for capped call transactions to offset any share dilution up to a 100% premium to the current stock price</li>
</ul>

RBRK

Rubrik Prices $1B 0.00% Convertible Senior Notes Due 2030 To Enhance Strategic Flexibility And Repay Credit Agreement

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul class="wp-block-list">
<li>Wall Street expects Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) to report quarterly earnings at 19 cents per share on revenue of $3.08 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Chewy shares fell 0.5% to $45.55 in after-hours trading.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) reported first-quarter revenue of $732.4 million, missing analyst estimates of $754.24 million. The company reported first-quarter adjusted earnings of 17 cents per share, beating analyst estimates of four cents per share, according to Benzinga Pro. GameStop shares dropped 3.6% to $29.08 in the after-hours trading session.</li>
<li>Analysts are expecting Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) to post quarterly earnings at 9 cents per share on revenue of $1.35 billion. The company will release earnings before the markets open. Victoria&#8217;s Secret shares gained 1.1% to $22.45 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul class="wp-block-list">
<li>Dave &amp; Buster&#8217;s Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) posted downbeat earnings for its first quarter, after the closing bell on Tuesday. Dave &amp; Buster's said it expects total capital expenditures to be less than $220 million in fiscal 2025. Dave &amp; Buster's shares gained 4.8% to $27.10 in the after-hours trading session.</li>
<li>Analysts expect Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) to post quarterly earnings at $1.64 per share on revenue of $15.58 billion after the closing bell. Oracle shares gained 0.01% to $177.50 in after-hours trading.</li>
</ul>
Check This Out: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/06/45858699/top-2-tech-and-telecom-stocks-you-may-want-to-dump-in-q2">Top 2 Tech And Telecom Stocks You May Want To Dump In Q2</a> </li>
</ul>
Photo courtesy: Sundry Photography / Shutterstock.com

Pre-Market Outlook

CHWY

ORCL

PLAY

VSCO

Chewy, GameStop And 3 Stocks To Watch Heading Into Wednesday

President Donald Trump's pick for the Federal Aviation Administration, or FAA, administrator job says that upgrading the Air Traffic Control would need a significant investment.
What Happened: Bryan Bedford, CEO of Republic Airways Holdings and Trump's nominee, says that upgrading the Air Traffic Control system would be his primary responsibility, Bloomberg reported <a href="https://www.bloomberg.com/news/articles/2025-06-10/faa-nominee-says-air-traffic-needs-significant-investment">on</a> Tuesday.
"We must agree that our Air Traffic Control system needs significant investment," Bedford stated in a written testimony ahead of Wednesday's confirmation hearing before the Senate committee.
The report also suggests Bedford asked Trump if he could meet with the FAA before accepting the nomination. He said the senior members of the FAA expressed "serious concerns" with issues like aging tech and problems with the workforce.
Trump's new Big, Beautiful Bill has allocated <a href="https://www.congress.gov/bill/119th-congress/house-bill/1/text">over</a> $12.5 billion to the FAA to address technological updates, as well as staffing woes, among other issues.
Why It Matters: The news comes in as the FAA has been on the receiving end of criticism for a number of safety issues and staffing woes. The agency also shared recently that it could <a href="https://www.benzinga.com/general/travel/25/05/45341520/faa-mulls-cutting-flights-at-newark-airport-amid-staffing-woes-and-equipment-failures-report">scale operations back</a> at New Jersey's Newark airport, citing staff shortages and equipment failures.
The agency was also slammed for a crash in January this year, which resulted in the deaths of 64 people, including the passengers and crew, when an <a href="https://www.benzinga.com/general/travel/25/01/43343648/all-60-passengers-4-crew-members-onboard-american-airlines-jet-feared-dead-after-midair-collision-official-says">American Airlines plane crashed </a>with a U.S. Army Black Hawk Helicopter at Ronald Reagan Washington National Airport.
Safety in the U.S. Aviation industry has become a top priority for airline operators once again, as Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) recently announced a new policy mandating passengers to keep portable chargers in line of sight when in use <a href="https://www.benzinga.com/news/travel/25/06/45766881/southwests-new-battery-policy-in-spotlight-after-a-smoking-battery-charger-diverts-flight">to avoid fires</a>.
Bedford would also have to deal with aircraft manufacturer Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), which has been under scrutiny and faced criticism after multiple incidents, including <a href="https://www.benzinga.com/markets/equities/24/12/42716905/boeing-in-spotlight-after-fatal-737-800-crash-in-south-korea-stock-declined-28-amid-deepening-2024-challenges">a fatal crash</a> involving Boeing aircraft that raised questions about the company's safety and <a href="https://www.benzinga.com/25/04/44811150/faulty-bathroom-latches-could-cost-boeing-34-million-following-faa-directive">quality standards</a>. 
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:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/travel/25/05/45692905/faa-extends-program-allowing-boeing-to-conduct-inspections-on-agencys-behalf">FAA Extends Program Allowing Boeing To Conduct Inspections On Agency&#8217;s Behalf</a></li>
</ul>
Photo courtesy: Chad Robertson Media / Shutterstock.com

Trump's FAA Nominee Says 'Significant Investment' Needed To Upgrade Air Traffic Control: Report

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk said Austin is a better alternative to kickstart Robotaxi services than Los Angeles amid <a href="https://www.benzinga.com/news/politics/25/06/45851810/trump-supports-arrest-of-california-governor-gavin-newsom-as-us-deploys-700-marines-to-los-angeles">anti-ICE protests</a> in the city.
What Happened: Ahead of June 12's Robotaxi launch in Austin, Texas, Musk took to social media platform X on Tuesday to hail the city as a better option to launch autonomous taxis.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Austin &gt;&gt; LA for robotaxi launch lol
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1932588522357358918?ref_src=twsrc%5Etfw">June 10, 2025</a></blockquote>
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"Austin &gt;&gt; LA for robotaxi launch lol," the billionaire said in his post on X.
Why It Matters: Musk's post comes in as 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 had earlier announced it would <a href="https://www.benzinga.com/markets/tech/25/06/45853688/tesla-robotaxi-rival-waymo-suspends-services-in-downtown-la-following-vandalism-during-anti-ice-protests" target="_blank" rel="noopener">suspend</a><a href="https://www.benzinga.com/markets/tech/25/06/45853688/tesla-robotaxi-rival-waymo-suspends-services-in-downtown-la-following-vandalism-during-anti-ice-protests"> its services</a> in Downtown Los Angeles after anti-ICE protests in the area resulted in vandalism of the Waymo fleet.
Over 5 Waymo autonomous vehicles were <a href="https://www.benzinga.com/markets/tech/25/06/45830565/multiple-waymo-vehicles-set-on-fire-during-los-angeles-anti-ice-protests-elon-musk-says-this-is-not-ok">affected by the vandalism</a>, resulting in a loss of over $900,000. The vehicles represented over 0.4% of Waymo's entire fleet of autonomous taxis.
Musk's EV giant is gearing up for the Robotaxi launch in Austin, as the company <a href="https://www.benzinga.com/markets/tech/25/06/45854273/elon-musks-tesla-officially-named-av-operator-in-austin-ahead-of-robotaxi-launch">was officially added</a> to the list of AV operators in the city by the local government. The list also includes Waymo as well as Amazon.com Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) autonomous taxi service Zoox.
<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="200" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10235943/TSLA-June-11-2025-1-1024x200.jpg" alt="" class="wp-image-945524" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10235943/TSLA-June-11-2025-1-1024x200.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10235943/TSLA-June-11-2025-1-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10235943/TSLA-June-11-2025-1-768x150.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10235943/TSLA-June-11-2025-1-1536x299.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10235943/TSLA-June-11-2025-1.jpg 1549w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla scores well on Momentum, Quality and Growth 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 Stock Rankings</a> today!
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/markets/tech/25/06/45871138/teslas-robotaxi-spotted-without-driver-but-can-it-catch-waymos-breakneck-lead">Tesla&#8217;s Robotaxi Spotted Without Driver, But Can It Catch Waymo&#8217;s Breakneck Lead?</a></li>
</ul>
Photo courtesy: Shutterstock

Elon Musk Hails Austin For Robotaxi Launch As Waymo Suspends Operations In Downtown LA Amid Anti-ICE Protests

American Bitcoin, a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining company backed by Eric Trump and Donald Trump Jr., bought millions worth of the apex cryptocurrency, according to a recent filing with the SEC.
What Happened: The firm reported having 215 BTC in its reserve as of May 31, amounting to $23.57 million at current market prices.
&#8220;ABTC considers its Bitcoin holdings to be long-term in nature and expects to continue accumulating Bitcoin. ABTC has not set any specific target for the amount of Bitcoin it seeks to hold,&#8221; the filing read. The company said its goal was to access &#8220;efficient&#8221; capital and use it to increase Bitcoin in reserve per share.
The firm, a majority-owned subsidiary of Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>), plans&nbsp;to go public in the&nbsp;second half of the year&nbsp;<a href="https://www.benzinga.com/news/small-cap/25/05/45347101/gryphon-digital-to-take-trump-affiliated-american-bitcoin-public-in-merger-deal-stock-soars">through a stock-for-stock merger</a> with&nbsp;Gryphon Digital Mining, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRYP#NASDAQ">GRYP</a>) and will be listed&nbsp;on the Nasdaq under the&nbsp;ticker symbol ABTC.
See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/45871245/exclusive-bitcoin-to-hit-200k-in-2025-15-say-yes-while-many-see-new-all-time-highs-coming" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Bitcoin To Hit $200K In 2025? 15% Say Yes While Many See New All-Time Highs Coming</a>
Why It Matters: The Trump brothers launched American Bitcoin in March, stepping deeper into the world of digital assets. Eric Trump, who will serve as the company&#8217;s Chief Strategy Officer, <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44560290/trump-family-to-dive-into-bitcoin-mining-after-defi-meme-coin-projects">said the mission is to build the world&#8217;s largest Bitcoin miner</a>, complete with its reserve of the apex currency.
The Trump family&#8217;s foray into Bitcoin mining seems part of a calculated move. The Trump Media and Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), co-founded and <a href="https://in.benzinga.com/25/03/44268596/trumps-net-worth-plummets-by-nearly-300m-as-djt-stock-drops-to-its-lowest-since-october" target="_blank" rel="noreferrer noopener">majority-owned by</a> 
President Donald Trump, has also <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45635335/donald-trump-jr-says-we-are-seriously-long-bitcoin-and-after-tmtg-reveals-treasury-strategy">announced a Bitcoin reserve strategy</a>. Moreover, Truth Social, the social media platform owned by Trump Media, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45763187/trumps-truth-social-files-for-bitcoin-etf-as-family-goes-seriously-long-on-crypto">submitted a filing</a> for a "Truth Social Bitcoin ETF,&#8221; designed to track the price of the apex cryptocurrency.
Their commitment to cryptocurrency was further solidified in when Donald Trump Jr. stated that they are <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45635335/donald-trump-jr-says-we-are-seriously-long-bitcoin-and-after-tmtg-reveals-treasury-strategy">&#8220;seriously long&#8221;</a> on Bitcoin.
Price Action: At the time of writing, BTC was exchanging hands at $109,639, up 0.08% 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>.&nbsp;
The HUT stock was up 0.38% in after-hours trading after closing 0.11% lower at $18.53 on Tuesday.
As of this writing, the stock exhibited a high Momentum score—&nbsp;a metric that measures a stock&#8217;s relative strength based on its price movement patterns and volatility over multiple timeframes. In case you're looking to pack your portfolio with high-momentum equities, visit&nbsp;<a href="https://www.benzinga.com/screener/top-value-stocks" target="_blank" rel="noreferrer noopener">Benzinga's proprietary Edge Rankings score</a> for inputs.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/screener/top-value-stocks"><img loading="lazy" decoding="async" width="447" height="188" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11004704/image-146.png" alt="" class="wp-image-945547" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11004704/image-146.png 447w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/11004704/image-146-300x126.png 300w" sizes="(max-width: 447px) 100vw, 447px" /></a></figure>
Read Next:&nbsp;
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<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/45875825/will-trumps-national-guard-deployment-in-los-angeles-be-blocked-cryptocurrency-bettors-see-" target="_blank" rel="noreferrer noopener">Will Trump&#8217;s National Guard Deployment In Los Angeles Be Blocked? Cryptocurrency Bettors See Strong Chance As Gavin Newsom Approaches Court</a></li>
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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>
Image Via Shutterstock

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

Cryptocurrency

$BTC

GRYP

Trump Family-Backed Bitcoin Mining Firm Acquires $23 Million Worth Of BTC, Signals More Accumulation In The Future

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has stated that the EV giant expects to begin public robotaxi rides in Austin on June 22.
What Happened: "Tentatively, June 22." Musk said in a social media post on X on Tuesday in response to a query about the Austin robotaxi launch.
However, the billionaire also stated that the launch timeline could be subject to change. "We are being super paranoid about safety, so the date could shift," he said in the post before adding that he expects Teslas to drive straight to a customer's home starting June 28.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tentatively, June 22. We are being super paranoid about safety, so the date could shift. First Tesla that drives itself from factory end of line all the way to a customer house is June 28.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1932591896939147494?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Musk had earlier shared another post touting the company's autonomous driving tech. "These are unmodified Tesla cars coming straight from the factory, meaning that every Tesla coming out of our factories is capable of unsupervised self-driving!" He said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">These are unmodified Tesla cars coming straight from the factory, meaning that every Tesla coming out of our factories is capable of unsupervised self-driving! <a href="https://t.co/n94ln0Uas6">https://t.co/n94ln0Uas6</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1932490521681055952?ref_src=twsrc%5Etfw">June 10, 2025</a></blockquote>
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Why It Matters: The news comes as Tesla was officially named a<a href="https://www.benzinga.com/markets/tech/25/06/45854273/elon-musks-tesla-officially-named-av-operator-in-austin-ahead-of-robotaxi-launch" target="_blank" rel="noopener">n AV operator </a>in Austin, alongside the likes of 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 and Amazon.com Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Zoox.
The billionaire had earlier shared that the company had begun <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">testing its unsupervised FSD </a>in Austin in the buildup to the robotaxi launch on June 12, "a month ahead of schedule."
Elsewhere, Waymo has temporarily <a href="https://www.benzinga.com/markets/tech/25/06/45853688/tesla-robotaxi-rival-waymo-suspends-services-in-downtown-la-following-vandalism-during-anti-ice-protests">suspended its services</a> in Downtown LA following incidents of vandalism in the city that resulted in over 5 Waymo autonomous taxis being vandalized.
<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="200" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10233509/TSLA-June-11-2025-1024x200.jpg" alt="" class="wp-image-945509" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10233509/TSLA-June-11-2025-1024x200.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10233509/TSLA-June-11-2025-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10233509/TSLA-June-11-2025-768x150.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10233509/TSLA-June-11-2025-1536x299.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10233509/TSLA-June-11-2025.jpg 1549w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla scores well on Momentum, Quality and Growth 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 Stock Rankings</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/25/06/45764059/ross-gerber-says-tesla-has-lot-of-work-to-do-on-fsd-ahead-of-robotaxi-launch-waymos-are-way-better">Ross Gerber Says Tesla Has ‘Lot Of Work To Do' On FSD Ahead Of Robotaxi Launch: ‘Waymos Are Way Better'</a></li>
</ul>
Photo courtesy: Ken Wolter / Shutterstock.com

Elon Musk Says Tesla Robotaxi Rides Begin June 22 In Austin, Full Self-Driving To Enable Home Delivery By June 28: 'We're Being Super Paranoid'

The United States and China have reached a long-awaited trade agreement, following two days of high-level discussions in London this week.
What Happened: On Tuesday, representatives from both sides said that they&#8217;ve reached an agreement to implement the provisions of the Geneva trade consensus, which was <a href="https://www.benzinga.com/government/regulations/25/05/45342343/us-stock-futures-rise-as-us-china-agree-to-90-day-tariff-pause-wider-earnings-growth-should-drive-more-balanced-market-performance-says-expert">signed last month</a>, resulting in a 90-day pause on the tariffs imposed on China, <a href="https://www.cnbc.com/2025/06/11/us-china-agree-on-framework-to-implement-geneva-trade-consensus-.html">reported</a> CNBC.
&#8220;We have reached a framework to implement the Geneva consensus and the call between the two presidents,&#8221; U.S. Commerce Secretary Howard Lutnick said, referring to a phone conversation last week between President Donald Trump and Chinese President Xi Jinping that set the tone for further bilateral talks.
China's trade envoy Li Chenggang echoed Lutnick's comments, calling the agreement a &#8220;step forward&#8221; in restoring trust, following the stalled implementation of the Geneva consensus, owing to accusations of non-compliance from both sides.
See Also: <a href="https://www.benzinga.com/markets/large-cap/25/06/45876062/gms-4-billion-bet-on-us-auto-manufacturing-backs-hardworking-americans-amid-trump-tariffs-push">GM&#8217;s $4 Billion Bet On US Auto Manufacturing Backs &#8216;Hardworking Americans&#8217; Amid Trump Tariffs Push</a> 
Lutnick said both sides will now seek final approval from their respective leaders before proceeding with the framework. &#8220;If Xi also approves it, then we will implement the framework,&#8221; he said.
According to Lutnick, issues regarding <a href="https://www.benzinga.com/markets/commodities/25/06/45784952/jim-cramer-says-the-chinese-could-really-hurt-us-as-beijing-tightens-grip-on-rare-earth-magnets-warns-of-threat-to-everything-from-autos-to-data-centers">rare-earth exports</a> from China and restrictions on the sale of advanced technologies imposed by the U.S. were included in the framework negotiations and are expected to be resolved, the report noted. 
Why It Matters: Analysts and observers are weighing in on the announcement, with some criticizing it as nothing but the &#8220;status quo&#8221; being maintained.
<a href="https://x.com/JamesSurowiecki"></a>Writer for Fast Magazine and The Atlantic, James Surowiecki, posted on X saying that &#8220;the U.S. and China have agreed to keep their previously-agreed-upon agreement, which was not a deal, but just restored the pre-Liberation-Day status quo.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So the US and China have agreed to keep their previously-agreed-upon agreement &#8211; which was not a deal, but just restored the pre-Liberation-Day status quo &#8211; in place while they keep talking about reaching another agreement. Victory! <a href="https://t.co/YDcIqMK6My">pic.twitter.com/YDcIqMK6My</a>
&mdash; James Surowiecki (@JamesSurowiecki) <a href="https://twitter.com/JamesSurowiecki/status/1932599195095216214?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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Economist Peter Schiff asks, &#8220;What victory has the U.S. really won from this war?&#8221; since both sides have only retreated from positions implemented after the trade war began.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It appears that once again the U.S. and China have agreed to some type of deal to de-escalate the trade war. From what I can tell the deal centers on both sides retreating from positions implemented after the war started. If so, what victory has the U.S. really won from this war?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1932616727348851104?ref_src=twsrc%5Etfw">June 11, 2025</a></blockquote>
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The markets have reacted modestly to the announcement, with China&#8217;s Shanghai Shenzhen CSI 300 index, tracked by the Xtrackers Hvst CSI 300 China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASHR#NYSE">ASHR</a>), up 0.83%, trading at 3,897.44 points.
U.S. Futures, however, are down Tuesday night, with the S&amp;P 500 futures down 0.29%, trading at 6,027.75, Nasdaq futures down 0.27%, at 21,903.50, and finally the Dow Jones futures, trading at 42,810.00, down 0.24%. 
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/06/45876224/youtube-contributed-55-billion-to-us-gdp-new-report-reveals-the-creator-economy-is-just-getting-started-says-ceo-neal-mohan">YouTube Contributed $55 Billion To US GDP, New Report Reveals: &#8216;The Creator Economy Is Just Getting Started,&#8217; Says CEO Neal Mohan</a></li>
</ul>
Image via Shutterstock

Economics

ASHR

Howard Lutnick Says US And China 'Reached A Framework' To Implement Geneva Consensus Following Trump-Xi Call — CSI 300 Index Gains

The Securities and Exchange Commission asked for revised S-1 forms from potential issuers of Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) spot Exchange-Traded Funds, according to a report dated Tuesday.
What Happened:&nbsp;The SEC requested updated S-1 forms from prospective ETF issuers within the next week and told them that it will provide feedback&nbsp;within 30&nbsp;days of the submission, Blockworks <a href="https://blockworks.co/news/solana-etf-sec-forms">reported</a>, citing sources familiar with the matter.
The SEC&#8217;s request specifically pertains to updates on language related to in-kind redemptions and the approach towards staking. The agency is receptive to the inclusion of&nbsp;staking as part of Solana&nbsp;ETFs.
According to the report, these updates could put Solana ETFs on pace for approval within three to five weeks.
The SEC didn&#8217;t immediately return Benzinga&#8217;s request for comment. 
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/06/45842265/xrp-price-rises-amid-nasdaq-index-addition-weak-on-chain-metrics-raise-concerns" target="_blank" rel="noreferrer noopener">XRP Price Rises Amid Nasdaq Index Addition, Weak On-Chain Metrics Raise Concerns</a>
Why It Matters: Bloomberg analyst James Seyffart said in a report that the SEC &#8220;may act early&#8221; on spot Solana ETFs. The approval odds stood at 90% as of this writing.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I wrote about this topic a bit today as well. Can be read at this link here if you&#39;re a Bloomberg Terminal Client:<a href="https://t.co/Tl3XfNq2Am">https://t.co/Tl3XfNq2Am</a> <a href="https://t.co/jAQ048Ewdr">pic.twitter.com/jAQ048Ewdr</a>
&mdash; James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1932538161260802070?ref_src=twsrc%5Etfw">June 10, 2025</a></blockquote>
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Well-known asset managers like&nbsp;VanEck,&nbsp;Bitwise, and&nbsp;Grayscale&nbsp;<a href="https://www.benzinga.com/25/03/44409641/solana-pumps-7-as-wall-street-braces-for-first-ever-etfs-tracking-the-crypto">have filed applications</a> for Solana ETFs.
Grayscale already operates its Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) and Grayscale Ethereum Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>). 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>&nbsp;to check out their latest momentum and growth-related metrics.
Price Action: At the time of writing, Solana traded at $166.68, up 4.68% 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>. 
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<li><a href="https://benzinga.com/crypto/cryptocurrency/25/06/45830251/elon-musks-political-party-to-launch-in-2025-odds-rise-on-polymarket-the-crypto-betting-market-now-partnered-with-x" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Political Party To Launch In 2025? Odds Rise On Polymarket, The Crypto Betting Market Now Partnered With X</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image Via Shutterstock <a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Movers

Trading Ideas

$SOL

ETHE

GBTC

Solana Spikes 4% As Report Signals Possible Green Light For ETF— Analyst Sets Approval Odds At 90%

On Tuesday, YouTube, a subsidiary of Alphabet Inc.'s (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>) Google, revealed that its <a href="https://www.benzinga.com/partner/emerging-markets/24/05/39061464/this-mark-cuban-backed-company-is-creating-waves-in-the-creator-economy">creative ecosystem</a> contributed significantly to the U.S. GDP in 2024, citing a new report.
What Happened: YouTube's creative ecosystem generated $55 billion for the U.S. economy in 2024. This figure marks a $20 billion increase from 2022, when the ecosystem contributed $35 billion.
YouTube CEO Neal Mohan said, &#8220;Looking at this momentum and toward the next two decades, the creator economy is just getting started. We're excited to see what our next 20 years have in store.&#8221;
See Also:&nbsp;<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" target="_blank" rel="noreferrer noopener">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: ‘In A World Of Butterfly Effects…'</a>
The report, conducted in partnership with Oxford Economics, also highlights the creation of 490,000 full-time jobs within the YouTube ecosystem, up from 390,000 jobs reported in 2022.
Why It's Important: The creator economy, rapidly expanding yet frequently overlooked, has been pushing for more support from U.S. institutions like banks and government bodies, <a href="https://techcrunch.com/2025/06/10/youtube-says-its-ecosystem-created-490k-jobs-and-added-55b-to-the-us-gdp-in-2024/">reported</a> TechCrunch.
Despite clear financial stability, many creators face challenges accessing business credit cards or securing certain types of loans.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
These concerns have gained enough traction to prompt action. Just last week, Rep. Yvette Clarke (D-NY) and Rep. Beth Van Duyne (R-TX) launched a bipartisan Congressional Creators Caucus aimed at acknowledging and advancing the interests of the creator community.
Price Action: Alphabet Inc.'s Class A shares rose 1.43% on Tuesday, while Class C shares increased by 1.34%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga&#8217;s Edge Stock Rankings show Alphabet maintaining strong price momentum across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance metrics can be found 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/2025/06/10230827/Screenshot-2025-06-11-at-8.35.24%E2%80%AFAM.png" alt="" class="wp-image-945493" /></a></figure>
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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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.
Image Via Shutterstock

Social Media

YouTube Contributed $55 Billion To US GDP, New Report Reveals: 'The Creator Economy Is Just Getting Started,' Says CEO Neal Mohan

Bitcoin was little changed on Tuesday even as the U.S. and China reached a trade consensus after London talks.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:45 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) </td>
<td>-0.07%</td>
<td>$109,635.63</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+2.64%</td>
<td>$2,780.94</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.31%</td>
<td>$0.1974</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The apex cryptocurrency stalled after reaching an intraday high of $110,380.12. Trading volume remained thin, dropping nearly 8% in the last 24 hours.
Meanwhile, Ethereum continued to outperform its elder sibling, breaking past $2,800 for the first time since Feb. 24. Trading volume soared 48% to $38.98 billion in the 24-hour period.
Over $321 million was liquidated from the cryptocurrency market in the last 4 hours, with short position traders suffering higher losses. If Bitcoin reaches $111,000, about $240 million in shorts could be wiped out.
Bitcoin's Open Interest cooled 1.83% in the last 24 hours following Monday's surge. More than 66% of Binance traders with open BTC positions, meanwhile, were positioned short, expecting a correction.
The "Greed" sentiment intensified in the last 24 hours, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 9:45 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Uniswap (UNI)</td>
<td>+20.16%</td>
<td>$8.29</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+11.90%</td>
<td>$1.35</td>
</tr>
<tr>
<td>Jito (JITO)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+11.51%</td>
<td>$2.15 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.45 trillion, following a minor increase of 0.38% in the last 24 hours.
Stocks ascended on Tuesday. The Dow Jones Industrial Average rose 105.11 points, or 0.25%, to close at 42,866.87. The S&amp;P 500 gained 0.55% to end at 6,038.81, while the tech-focused Nasdaq Composite spiked 0.63% to close at 19,714.99.
The U.S. and China reached a consensus on trade after a second day of talks in London. Commerce Secretary Howard Lutnick said that the two parties "reached a framework" to implement the Geneva consensus, <a href="https://www.cnbc.com/2025/06/11/us-china-agree-on-framework-to-implement-geneva-trade-consensus-.html">according </a>to CNBC.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst and trader Rekt Capital stated that Bitcoin's daily close above $109,443 could push the apex cryptocurrency to new all-time highs.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Phenomenal Daily candle yesterday, breaking through ~$106600 (black) resistance comfortably In fact, Bitcoin has skipped through the $106600-$109443 Daily Range entirely (black-black) Bitcoin is once again positioning itself like in late May for a retest (green circle)… <a href="https://t.co/DKHTl80OUf">https://t.co/DKHTl80OUf</a> <a href="https://t.co/6CdavL9X9Y">pic.twitter.com/6CdavL9X9Y</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1932471574482825675?ref_src=twsrc%5Etfw">June 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another well-known cryptocurrency analyst, Ali Martinez, highlighted that Ethereum has broken through the key resistance at $2,820 and may target $2,920 next.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$2,820! &#x2705; Now, $2,920 could be next. <a href="https://t.co/TiwKf4XjYz">https://t.co/TiwKf4XjYz</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1932565071000904048?ref_src=twsrc%5Etfw">June 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45871245/exclusive-bitcoin-to-hit-200k-in-2025-15-say-yes-while-many-see-new-all-time-highs-coming">EXCLUSIVE: Bitcoin To Hit $200K In 2025? 15% Say Yes While Many See New All-Time Highs Coming</a></li>
</ul>
Photo Courtesy: PeopleImages.com &#8211; Yuri A on Shutterstock.com

$DOGE

$ETH

Bitcoin Flat, Ethereum, Dogecoin Climb Amid US-China Trade Consensus: Analyst Says ETH Could Target $2,920 Next

Leading U.S. automaker&nbsp;General Motors Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) has unveiled a multibillion-dollar plan to reinforce its manufacturing footprint in the country, spanning both its new electric vehicles and its traditional gas-powered favorites.
What Happened: On Tuesday, the Detroit-based giant announced $4 billion in fresh investments across several of its U.S. manufacturing plants, aimed at expanding finished vehicle output and enabling GM to assemble more than 2 million vehicles each year domestically, up from 1.5 million currently.
This capital is set to be deployed over the next two years, targeting the company&#8217;s facilities across Michigan, Kansas, and Tennessee.
The move also underscores GM&#8217;s commitment to its internal combustion engine (ICE) models, even as it continues to expand its EV offerings. 
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45875791/trumps-ai-czar-david-sacks-dismisses-ai-chip-smuggling-fears-warns-over-regulation-could-hand-ai-dominance-to-china-we-talk-about-these-chips-like-they-could-be-smuggled-in-the-back-of-a">Trump&#8217;s AI Czar David Sacks Dismisses AI Chip Smuggling Fears, Warns Over-Regulation Could Hand AI Dominance To China: &#8216;We Talk About These Chips Like They Could Be Smuggled In The Back Of A Briefcase&#8217;</a>
The Orion Assembly in Michigan will begin producing gas-powered full-size SUVs and light-duty trucks in early 2027, whereas the Detroit-Hamtramck Factory ZERO will be dedicated to EV production, for models such as the Chevrolet Silverado EV, GMC Sierra EV, Cadillac Escalade IQ, and the GMC Hummer EV, among others.
&#8220;Today's announcement demonstrates our ongoing commitment to build vehicles in the U.S and to support American jobs,&#8221; said GM's chair and CEO, Mary Barra.
President Mark Reuss says, &#8220;This is about hardworking Americans making vehicles they are proud to build and that customers are proud to own,&#8221; while highlighting the scale of the company&#8217;s manufacturing footprint and the positive economic impact it has on communities and the country.
The company reiterates that its 2025 capital spending guidance remains unchanged at between $10 billion and $11 billion, despite its plan to ramp up domestic manufacturing.
Why It Matters: The company&#8217;s CEO, Barra, recently <a href="https://www.benzinga.com/25/05/45664131/general-motors-ceo-backs-trumps-auto-tariffs-as-a-tool-to-level-the-playing-fieldtheyve-taken-the-time-to-understand-our-industry">came out in support</a> of President Donald Trump&#8217;s tariffs, calling them a tool to &#8220;level the playing field.&#8221;
&#8220;For&nbsp;decades now, it has not&nbsp;been a level playing field&nbsp;for us automakers globally, with&nbsp;either tariffs or non-tariff trade&nbsp;barriers,&#8221; Barra said.
This was just weeks after she said that the tariffs <a href="https://www.benzinga.com/25/05/45159130/general-motors-ceo-mary-barra-says-prices-will-remain-the-same-amid-donald-trumps-tariffs-that-could-cost-company-5-billion-dollars">could cost the company</a> anywhere between &#8220;$4 to $5 billion,&#8221; while committing to keep prices the same nonetheless.
Late last month, <a href="https://www.benzinga.com/tech/25/05/45640639/general-motors-to-invest-888-million-in-ny-v-8-engine-plant-despite-surge-in-ev-market-share">GM invested $888 million</a> in its NY V-8 Engine Plant at the Tonawanda Propulsion facility, marking the &#8220;single largest investment&#8221; by the company in a manufacturing plant, which once again underscores its commitment to ICE models and domestic manufacturing. 
Price Action: Shares of General Motors were up 2.09% on Tuesday, trading at $48.93, and are up 0.14% after hours.
<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="147" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10220543/Screenshot-2025-06-11-at-7.35.31-AM-1024x147.png" alt="" class="wp-image-945467" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10220543/Screenshot-2025-06-11-at-7.35.31-AM-1024x147.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10220543/Screenshot-2025-06-11-at-7.35.31-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10220543/Screenshot-2025-06-11-at-7.35.31-AM-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/10220543/Screenshot-2025-06-11-at-7.35.31-AM.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Rankings, GM shares score well on Value, Growth and Quality, but lag on Momentum. It has a favorable price trend in the short term, but is unfavorable in the medium and long term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock and how it compares with peers and competitors.
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Image Via Shutterstock

GM's $4 Billion Bet On US Auto Manufacturing Backs 'Hardworking Americans' Amid Trump Tariffs Push

Cryptocurrency bettors saw a strong likelihood that courts would block the deployment of the U.S. military in Los Angeles as protests over President Donald Trump's immigration crackdown entered their fifth day.
What happened: The betting contract "Will courts block Trump&#8217;s National Guard deployment by Friday?" had <a href="https://polymarket.com/event/will-courts-block-trumps-national-guard-deployment-by-friday?tid=1749602834907">65%</a> odds on Polymarket as of this writing.&nbsp;
The market will resolve to &#8220;Yes&#8221; if any U.S. court issues an order that "blocks, restrains, or prohibits" the federal deployment of the National Guard to Los Angeles by June 13.
The Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based prediction platform allows users to buy &#8220;Yes&#8221; and &#8220;No&#8221; shares in USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>). The shares representing the correct outcome are paid out $1 USDC each upon market resolution.
Note that Polygon is not <a href="https://www.benzinga.com/24/11/41838037/will-polymarket-return-to-the-us-after-getting-trump-victory-right-ceo-says-its-part-of-the-plan">accessible to U.S. residents</a> due to regulatory restrictions.
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: These odds come as demonstrations against Trump's immigration raids escalated in Los Angeles.&nbsp;
To <a href="https://www.benzinga.com/news/politics/25/06/45851810/trump-supports-arrest-of-california-governor-gavin-newsom-as-us-deploys-700-marines-to-los-angeles">quell the protests</a>, Trump has authorized the deployment of an additional 2,000 National Guard troops and 700 Marines, following his initial deployment of 2,000 troops. Los Angeles Police Chief Jim McDonnell has <a href="https://www.benzinga.com/news/politics/25/06/45851810/trump-supports-arrest-of-california-governor-gavin-newsom-as-us-deploys-700-marines-to-los-angeles">expressed concerns</a> over the deployment, citing significant logistical and operational challenges
California Governor Gavin Newsom asked a federal court to block the Trump administration from using the National Guard and Marines to assist with immigration raids in the city, calling it a <a href="https://www.benzinga.com/news/politics/25/06/45830221/gavin-newsom-calls-deployment-of-national-guard-in-los-angeles-unlawful-says-there-was-no-problem-until-trump-got-involved-serious-breach-of-state-sovereignty">breach of state sovereignty</a>.
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>
Image Via Shutterstock

Government

$POL

$USDC

Will Trump's National Guard Deployment In Los Angeles Be Blocked? Cryptocurrency Bettors See Strong Chance As Gavin Newsom Approaches Court

On Tuesday, David Sacks, the White House AI czar, downplayed concerns over <a href="https://www.benzinga.com/government/24/09/40748185/chinas-markets-still-manage-to-get-nvidia-ai-chips-via-smuggling-report">AI chip smuggling</a>, arguing that over-regulating U.S. AI exports could stifle innovation and allow China to gain a technological edge.
What Happened: Speaking at the AWS summit in Washington, Sacks dismissed the idea that U.S. AI chips could be easily smuggled, noting that the chips are massive, weighing up to two tons and cannot be hidden, reported Reuters.
&#8220;We talk about these chips like they could be smuggled in the back of a briefcase. That&#8217;s not what they look like. These are server racks that are eight feet tall and weigh two tons,&#8221; he said.
Sacks, a key figure in the President Donald Trump administration&#8217;s AI policy, expressed concern that overly restrictive regulations could impede U.S. technological progress.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45855054/nvidias-jensen-huang-once-called-huawei-chinas-most-formidable-tech-company-but-ceo-ren-zhengfei-says-its-chips-still-lag-behind-us-rivals">Nvidia&#8217;s Jensen Huang Once Called Huawei China&#8217;s Most Formidable Tech Company, But CEO Ren Zhengfei Says Its Chips Still Lag Behind US Rivals</a>
He argued that tightening controls might inadvertently push global markets toward China.
&#8220;I do worry we're on a trajectory where fear could overtake opportunity and we end up sort of crippling this wonderful progress that we're seeing,&#8221; Sacks warned.
Why It's Important: The comments come as U.S.-China relations remain tense, particularly over AI technology.
Sacks criticized the <a href="https://www.benzinga.com/25/05/45291509/nvidia-broadcom-amd-surge-as-trump-reshapes-ai-chip-export-rules-to-ease-market-pressure">export restrictions on AI chips</a> imposed during the former President Joe Biden era, which sought to prevent them from reaching China, fearing their use in military applications.
He stated that such measures could backfire, pushing countries into China's arms.
&#8220;We rescinded that Biden diffusion rule, which&#8230;made diffusion a bad word. Diffusion of our technology should be a good word, he said, highlighting the need for global cooperation on AI.
Last month, it was reported that the U.S. plans to <a href="https://www.benzinga.com/25/05/45196679/nvidia-faces-new-challenges-as-us-tightens-semiconductor-sanctions-and-tracks-ai-chip-smuggling">implement a regulation</a> aimed at confirming the origin of AI chips developed by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and its competitors, to stop them from being illicitly transported to China.
During the same time, <a href="https://www.benzinga.com/25/05/45160136/nvidia-blasts-anthropic-for-backing-stricter-chip-bans-on-china-focus-on-innovation-than-tell-tall-tales">Nvidia criticized AI startup</a> Anthropic, backed by Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc.'s (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>) Google, for advocating stricter U.S. export controls on AI chips to China.
The clash followed a blog post by Anthropic stating that chips had been smuggled into China using methods like hiding them in "prosthetic baby bumps" and with "live lobsters."
In response, a Nvidia spokesperson dismissed these allegations as exaggerated, urging U.S. companies to prioritize innovation over what they called "tall tales."
Previously, Nvidia CEO Jensen Huang also reportedly warned U.S. lawmakers that existing restrictions on AI chip exports might be inadvertently boosting Huawei Technologies' position in the <a href="https://www.benzinga.com/25/05/45157365/nvidia-ceo-jensen-huang-warns-us-lawmakers-that-export-bans-are-backfiring-fueling-huaweis-rise-in-global-ai-chip-race">global competition for AI leadership</a>.
Nvidia is demonstrating solid price momentum over the short, medium and long term, as indicated by Benzinga's Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed 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/2025/06/10213342/Screenshot-2025-06-11-at-7.02.05%E2%80%AFAM.png" alt="" class="wp-image-945433" /></a></figure>
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<li><a href="https://www.benzinga.com/markets/large-cap/25/06/45770679/alibaba-jd-see-sales-soar-in-618-festival-apple-and-xiaomi-emerge-as-top-selling-brands" target="_blank" rel="noreferrer noopener">Alibaba, JD See Sales Soar In 618 Festival, Apple And Xiaomi Emerge As Top Selling Brands</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

NVDA

Trump's AI Czar David Sacks Dismisses AI Chip Smuggling Fears, Warns Over-Regulation Could Hand AI Dominance To China: 'We Talk About These Chips Like They Could Be Smuggled In The Back Of A Briefcase'

Press Releases

TeraWulf Announces December 2024 Production and Operations Update

TeraWulf Announces Participation in Upcoming Investor and Industry Conferences

Crypto Stocks Plunge In Market Rout

TeraWulf Schedules Conference Call for Fourth Quarter and Year End 2024 Financial Results

Earnings

TeraWulf Reports Fourth Quarter and Full Year 2024 Results

TeraWulf Announces Participation in Upcoming Conferences and Events

TeraWulf Schedules Conference Call for First Quarter 2025 Financial Results

TeraWulf Reports First Quarter 2025 Results

TeraWulf Acquires Beowulf Electricity & Data, Streamlining Corporate Structure

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