Former OpenAI employee accused of crashing device had support from Saudi Arabia, court filing shows
US prosecutors claimed that Abdulrahman Alfozan, who worked for the AI company, was in “frequent communication… with a member of the Saudi royal family”, and claimed that a member of the country’s military paid for a one-way…
Micron, Intel Lead Chip Recovery, Adding Nearly $250 Billion as Most of Wall Street Falls: Chart of the Day
Last week, chip stocks helped push Wall Street lower. On Monday, they raise the indices while most stocks continue to fall. A Yahoo Finance basket of 60 chip-related stocks recaptures nearly $250 billion in market value, with gains hitting memory makers,…
Saudi Arabia postpones in-person FII after Wall Street lobbying
Several signals suggest that FII could be postponed: rooms at the Ritz Carlton in Riyadh, which are usually blocked off for the event, have been available for public booking in the last 24 hours. Other scheduled events, such as an exhibition tennis…
Intel drives chip stocks higher as investors jump back into AI trading
Chip stocks rebounded Monday as investors bought the dip following a sharp selloff in AI last week. The PHLX Semiconductor Index (^SOX) rose 2%, reversing the recent semiconductor rout. Intel (INTC) stock jumped 5% after JPMorgan upgraded it to buy,…
Saudi Arabia to postpone ‘Davos in the desert’ after Houthi attacks
Unlock Editor’s Digest for free Roula Khalaf, editor-in-chief of the FT, selects her favorite stories in this weekly newsletter. Saudi Arabia has postponed its flagship “Davos in the Desert” investment conference in Riyadh following…
Amazon Stock Rises After Morgan Stanley Details 5 Catalysts, Raises Price Target
Amazon (AMZN) stock rose more than 3% in early trading Monday after Morgan Stanley named it its top pick and raised its price target to $350 from $335, outlining five catalysts that could send the stock higher. The new target implies an upside of around…
Trader Joe’s announces new stores, plans to open 30 locations in 2027
Jingle Jangle is about to be sold out even more stores. Trader Joe’s — home to infamous seasonal treats like apple cider donuts, pumpkin-flavored Joe-Joe’s and the Christmas favorite Jingle Jangle — announced that more locations are on the…
CLF Stock Issues Buy Signal on Steelmaker’s Massive $4 Billion Outlook
Cleveland-Cliffs on Monday reported stronger-than-expected third-quarter profit and set an extremely high bar for its operating profit for next year, based on new contracts signed with its customers. CLF stock broke through a buy point in early trading.…
Uber wins tender to reject £200m black taxi claims – BBC
Uber wins tender to reject £200m black taxi claims BBC Uber Wins Bid to Dismiss Massive Lawsuit of Black Taxi Drivers in UK Reuters Uber won dismissal of £250m lawsuit from London black cab drivers Quartz Uber wins bid to dismiss £250m lawsuit against…
SpaceX surprises Wall Street with October 20 earnings date – here’s why
While Wall Street was still in a state of disbelief late last week that Elon Musk had made a flying Tesla (TSLA) Roadster, his SpaceX (SPCX) team posted a not-so-small note on its investor relations page. SpaceX results will be released on October 20…