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Elon Musk Fights Sam Altman in $150 Billion Trial Over OpenAI’s Future

Key Points: Elon Musk is suing OpenAI and its leaders for $150 billion, claiming they illegally transformed a charity into a profit-making business. A federal judge warned Musk to stop attacking Sam Altman on social media after Musk repeatedly called him "Scam Altman" online. Lawyers for OpenAI argue that Musk simply wanted to control the company and filed the lawsuit out of pure jealousy to...

Semiconductor Stocks Tumble as OpenAI Data Center Spending Rumors Spook Investors

Key Points: A fresh Wall Street Journal report claims OpenAI missed its goal of 1 billion weekly active users, sparking a massive sell-off in semiconductor stocks. The PHLX Semiconductor Index broke an incredible 18-day winning streak that previously included 13 consecutive record highs. Top artificial intelligence companies like Nvidia, AMD, and Oracle saw steep declines alongside smaller equipment makers like Rambus and Arm. Wall Street...

European Parliament Demands 10% Budget Increase and New EU Taxes for 2028-2034 Cycle

Key Points: The European Parliament voted to demand a 10% increase, adding nearly 200 billion euros to the next long-term EU budget. Lawmakers want to introduce five new European taxes to raise 58.2 billion euros annually without asking member states for more cash. Parliament members strongly oppose using the regular budget to pay off the massive COVID-19 debt from 2020. Political leaders promise a fierce...