Elon Musk said his Terafab project — a grand plan to eventually manufacture his own chips for robotics, artificial intelligence and space data centers — will be built in Austin and jointly run by Tesla and SpaceX. Musk, the chief executive officer of both companies, said he will start off with an “advanced technology fab” in Austin that will have all of the equipment necessary to make chips of any...
Elon Musk said his Terafab project — a grand plan to eventually manufacture his own chips for robotics, artificial intelligence and space data centers — will be built in Austin and jointly run by Tesla and SpaceX. Musk, the chief executive officer of both companies, said he will start off with an “advanced technology fab” in Austin that will have all of the equipment necessary to make chips of any kind, and test them. Musk, who has no background in semiconductor production and a history of over-promising on goals and timelines, had said before that the company will start with a smaller scale fab before moving to a bigger one. Musk has said the semiconductor industry is moving too slow to keep up with the supply of chips he expects to need, even as the industry increases output. “That rate is much less than we’d like,” Musk said. “We either build the Terafab or we don’t have the chips, and we need the chips, so we build the Terafab.” Musk’s project would call for one day supporting a terawatt of computing power per year, the amount he expects the companies to eventually use as he ramps up his investments in AI and robotics. Musk detailed some specific plans, including producing chips that can support 100 to 200 gigawatts a year of computing power on Earth, and chips that can support a terawatt in space, but gave no timelines for the facility or its output. Musk has said previously that the facility would produce 2 nanometer chips. The project appears to be planned for an area near Tesla’s existing Austin headquarters and gigafactory, based on a photo shown during the presentation. Read More: Why the AI Boom Will Make Phones, Cars, Devices More Expensive Many executives have expressed anxiety about a shortage of chips — particularly memory chips — during the race to build computing power for AI. But it’s rare to try building them. Bringing semiconductor facilities online typically takes tens of billions dollars and requires the purchase of complex machines from multip...
Latin American governments are launching a sweeping realignment of energy and fiscal policies, warning that the surge in oil prices from the Iran war threatens regional stability. Dominican Republic President Luis Abinader announced in a webcast Sunday a “responsible” adjustment to domestic fuel prices to protect public finances. He called on businesses to adopt remote work and urged a new level o...
Latin American governments are launching a sweeping realignment of energy and fiscal policies, warning that the surge in oil prices from the Iran war threatens regional stability. Dominican Republic President Luis Abinader announced in a webcast Sunday a “responsible” adjustment to domestic fuel prices to protect public finances. He called on businesses to adopt remote work and urged a new level of citizen consciousness to optimize fuel consumption. Warning that the surge creates an escalating fiscal burden that could “jeopardize the sustainability” of the state, Abinader’s administration is preparing to subsidize fertilizers to the tune of 1 billion pesos ($17 million) and redirect 10 billion pesos to bolster social programs. Abinader’s remarks mirror a broader regional pivot as leaders across the political spectrum grapple with the fallout of global energy volatility. “This is not due to domestic economic weakness, but rather because we are facing an external shock of great magnitude,” he said. While the government will bear the brunt of the effort, citizens must prepare for “inevitable sacrifices,” including upward pressure on electricity and food costs, Abinader said. In Chile, President José Antonio Kast said in an interview with La Tercera that “things cannot remain as they are if the price of oil doubles.” Shunning what he termed “populist exits,” Kast signaled he will use executive authority to adjust the MEPCO fuel-price stabilization mechanism. He framed the measures as part of a “culture of responsibility” required to confront an existing “fiscal crisis” now exacerbated by global conflict. Colombian President Gustavo Petro took the lead in the region on Saturday, saying on X that subsidized gasoline prices “can no longer be sustained” and will start tracking international levels. “Gasoline subsidies are no longer possible,” Petro said. “As international prices go up, so will prices in Colombia.” In a strategic pivot, Petro said state oil company Ecopetrol...
Instead of buying someone else's ETF, build an index around your own thesis with Public's AI tools. Get started and see if you qualify for the 1% match. Opendoor Technologies fell 4.14% to $5.33 on Wednesday, as investors weighed rising mortgage rates against a potentially favorable regulatory backdrop. Higher borrowing costs are reducing incentives for homeowners to refinance or move, which in tu...
Instead of buying someone else's ETF, build an index around your own thesis with Public's AI tools. Get started and see if you qualify for the 1% match. Opendoor Technologies fell 4.14% to $5.33 on Wednesday, as investors weighed rising mortgage rates against a potentially favorable regulatory backdrop. Higher borrowing costs are reducing incentives for homeowners to refinance or move, which in turn affects Opendoor's housing turnover and transaction volumes. In pre-market trading on Friday, shares of Rocket Companies were down 0.68% at $14.55, DocuSign fell 0.23% to $47.64 (-0.23%), Zions Bancorp dropped 0.52% to $54, while D.R. Horton was slightly up at $137.70, and Zillow Group dropped 1.51% to $45.57. See Also: Arrived Home's Private Credit Fund’s has historically paid an annualized dividend yield of 8.1%* , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. The order encourages digital modernization of home-buying, including electronic signatures, e-notes, and AI-based appraisals. The administration said its $200 billion in mortgage-backed securities purchases has lowered costs for homebuyers by $5,000. The Federal Reserve kept interest rates at 3.5%–3.75% , noting that “the implications of developments in the Middle East for the U.S. economy are uncertain.” Mortgage applications fell nearly 11% from the prior week. New single-family home sales dropped nearly 18% in January from the previous month and were down 11.3% from a year earlier, according to the Census Bureau. The increase follows the outbreak of the Iran conflict, which has tightened global energy supplies and lifted oil prices, fueling inflation expectations. The 10-year Treasury yield, which influences mortgage rates, rose to 4.26% from 3.96% before the conflict. Mortgage rates in the U.S. jumped to a three-month high this week, adding strain to the housing market as the spring buying season begins. The 30-year fixed mortgage rate rose to ...
Ministers have confirmed the locations for seven new towns, which include under-developed inner-city land, a historic village and an existing new town. The programme is being billed by the housing and communities department as the most ambitious housebuilding project in England for half a century, with the planned construction of between 15,000 and 40,000 homes in each new town. The new towns are ...
Ministers have confirmed the locations for seven new towns, which include under-developed inner-city land, a historic village and an existing new town. The programme is being billed by the housing and communities department as the most ambitious housebuilding project in England for half a century, with the planned construction of between 15,000 and 40,000 homes in each new town. The new towns are intended to be designed in a coordinated way, with schools, access to healthcare, public transport links and walking and cycling paths to be created at the same time as the homes. Only one of the locations will be created around a small existing community, as was the case with the various generations of new towns built after the second world war. Up to 40,000 homes are planned around the Bedfordshire village of Tempsford, which is near the A1, with the new building on a former RAF base. It will also have a major station interchange, linking the adjoining east coast mainline with a new east-west link between Cambridge and Oxford. Five of the projects are within or on the edges of major cities, including two in London. Up to 21,000 homes are planned in the Crews Hill and Chase Park new town in Enfield on the northern edge of the capital, and 15,000 homes in Thamesmead, south-east London, helped by extending the Docklands Light Railway. Two of the urban projects will be relatively central: Victoria North in Manchester, with about 15,000 homes; and Leeds South Bank, with a planned 20,000 homes. The cumbersomely named Brabazon and the West Innovation Arc, with 40,000 homes, is in the north of Bristol. The final project would include 40,000 new homes in Milton Keynes, itself created from Buckinghamshire farmland and villages as one of the second generation of postwar new towns, and which is now a city. The seven chosen locations were among a shortlist of 12 unveiled in September. The five other places – Adlington in Cheshire; Heyford Park in Oxfordshire; Marlcombe in East Devon; ...
Florida Cities Enforce Curfews And Mass Arrests After Spring Break Chaos Do certain groups of people deliberately seek out chaos? Do they revel in it so much that they choose to create it from thin air wherever they go? Or, are they completely unaware of the destruction that follows them around? One thing is certain - they obviously don't care about how it affects the people around them. Spring Br...
Florida Cities Enforce Curfews And Mass Arrests After Spring Break Chaos Do certain groups of people deliberately seek out chaos? Do they revel in it so much that they choose to create it from thin air wherever they go? Or, are they completely unaware of the destruction that follows them around? One thing is certain - they obviously don't care about how it affects the people around them. Spring Break in Florida has always been a wild affair attracting masses of young vacationers from across the US to white sandy beaches, condos and the night life. Decades ago, the locals were complaining just as they are now, but in recent years the demographics have changed dramatically and with this change comes the inevitable increase in random criminal violence. It's not just loud parties and DUIs anymore. BREAKING - Shocking video of what spring break in Daytona Beach, Florida, looks like in 2026 compared to the early 2000s is going viral, showing what were once nice, peaceful beach parties being turned into gangland for black teens and guns. pic.twitter.com/TYhdTDx4Xw — Right Angle News Network (@Rightanglenews) March 19, 2026 Some residents are now referring to these incidents as "Ghetto Spring Break". With the demographic being pushed out of traditional getaways like Miami Beach due to higher fees and restrictions, they have surged into alternatives like Fort Lauderdale and Daytona Beach. This has led to skyrocketing crime and essentially unusable tourist spots. #News | Four shootings and massive unruly crowds turned Daytona Beach’s spring-break weekend into a public safety nightmare, as thousands fled the sand while police from multiple agencies rushed in to restore order. pic.twitter.com/ffaeLjxswR — ONLY in DADE (@ONLYinDADE) March 16, 2026 A large percentage of the crime is committed by minors and college age vacationers. Underage teens roam in massive groups unaccompanied by parents is a common scene. Authorities made more than 130 arrests last weekend, including 84 in ...
Investors may catch their breath next week as earnings season winds down and only a few meaningful economic reports are released. The Iran war will remain front and center. Stock selling accelerated Friday into the close after Reuters reported that Iraq had declared force majeure on all oil fields operated by foreign companies. Oil prices spiked on the news, with Brent crude topping $112 a barrel ...
Investors may catch their breath next week as earnings season winds down and only a few meaningful economic reports are released. The Iran war will remain front and center. Stock selling accelerated Friday into the close after Reuters reported that Iraq had declared force majeure on all oil fields operated by foreign companies. Oil prices spiked on the news, with Brent crude topping $112 a barrel and WTI oil trading over $98 a barrel. As we noted recently, oil is the lifeblood of the global economy. It's a large, unavoidable input cost for Main Street and Wall Street, so when its price rises, the price of most things goes up. As a result, active investors should regularly monitor oil prices every minute the market is open; they dictate how Wall Street views market value because commodity prices move inversely to corporate earnings potential. 1. How is the jobs market? Investors are still trying to get a handle on that question, and will look to the weekly initial claims report on Thursday and the productivity and costs report on Tuesday. These aren't the most important gauges of employment — the monthly nonfarm payroll report is king — but given how little data is coming out amid rising fears of stagnation, market watchers will pay more attention than usual. Expect more talk of stagnation — a prolonged period of slow or no economic growth, characterized by high unemployment and stagnant wages — given higher oil prices, rising concerns about the Middle East conflict, and corporate adoption of AI. Those fears are starting to make their way into the market. Look no further than the change in fed funds futures. One month ago, the odds of an April rate cut were 17%, while there was a 94% chance of at least one cut by the end of this year, and a 75% chance of more than one cut, according to the CME's FedWatch tool , which calculates probabilities using 30-day fed funds futures contracts. Odds of an April cut are now at 10%, and there is a 73% chance of no cuts this year. ...
Gold wavered after the biggest weekly decline in more than 40 years, as traders digested escalating threats by the US and Iran in a war that has entered a fourth week. Bullion traded either side of $4,500 an ounce early on Monday, having lost nearly 11% last week. Surging oil prices have raised inflationary risks and reduced the likelihood of near-term interest-rate cuts by the US Federal Reserve ...
Gold wavered after the biggest weekly decline in more than 40 years, as traders digested escalating threats by the US and Iran in a war that has entered a fourth week. Bullion traded either side of $4,500 an ounce early on Monday, having lost nearly 11% last week. Surging oil prices have raised inflationary risks and reduced the likelihood of near-term interest-rate cuts by the US Federal Reserve and other central banks. This is a headwind for non-yielding gold, which has declined for eight consecutive sessions. Crude gained early on Monday, after US President Donald Trump gave Iran a two-day deadline to reopen the Strait of Hormuz or have its power plants bombed. Iran countered that it would close the strategic waterway “completely” and target energy, information technology and desalination infrastructure if its power facilities come under attack. Trump’s ultimatum came at 7:44 p.m. New York time on Saturday. Read More: Trump and Iran Hurl War Threats With Hormuz Crisis Building Spot gold rose 0.3% to $4,506.57 an ounce at 6:16 a.m. in Singapore, having fallen when trading opened. Silver was steady at $67.95. Platinum and palladium edged higher. The Bloomberg Dollar Spot Index , a gauge of the US currency, fell 0.5% last week.
US President Donald Trump’s border tsar said on Sunday that having immigration agents bolster short-staffed Transportation Security Administration (TSA) teams will speed up airport queues but the union for TSA workers said that does not solve what they see as the underlying problem of pay. In appearances on Sunday news shows, US border tsar Tom Homan and Transport Secretary Sean Duffy argued that...
US President Donald Trump’s border tsar said on Sunday that having immigration agents bolster short-staffed Transportation Security Administration (TSA) teams will speed up airport queues but the union for TSA workers said that does not solve what they see as the underlying problem of pay. In appearances on Sunday news shows, US border tsar Tom Homan and Transport Secretary Sean Duffy argued that Immigration and Customs Enforcement ( ICE ) staff can help with airport security screening, starting on Monday, even though they have not been specifically trained for it. “When we deploy tomorrow, we’ll have a well thought-out plan to execute,” Homan said on CNN’s State of the Union programme. Advertisement Tens of thousands of TSA agents have been working without pay for weeks because of an impasse between Democrats and Republicans in Congress over funding the US Department of Homeland Security (DHS), the parent agency of ICE and TSA. Advertisement Democrats have criticised the department’s immigration operations that have killed US citizens and sparked public outrage, demanding a change in rules. Some 10 per cent of TSA employees have been absent from work in recent days, with the rate even higher at major airports in Atlanta, New York City and Houston, leading to lengthy queues for passengers trying to get to their gates. Hundreds of TSA agents have simply resigned, according to their labour union and TSA.
Traders work on the floor at the New York Stock Exchange, March 17, 2026. Brendan McDermid | Reuters Stock futures fell Sunday night, weighed by the U.S.' latest warning against Iran, after the major U.S. benchmarks posted their fourth-straight weekly slide. Dow Jones Industrial Average futures lost 143 points, or 0.3%. S&P 500 futures shed 0.4%, and Nasdaq-100 futures pulled back by 0.5%. Those d...
Traders work on the floor at the New York Stock Exchange, March 17, 2026. Brendan McDermid | Reuters Stock futures fell Sunday night, weighed by the U.S.' latest warning against Iran, after the major U.S. benchmarks posted their fourth-straight weekly slide. Dow Jones Industrial Average futures lost 143 points, or 0.3%. S&P 500 futures shed 0.4%, and Nasdaq-100 futures pulled back by 0.5%. Those declines came as the Iran war entered its fourth week, with tensions escalating over the weekend. President Donald Trump threatened an attack on Iranian power plants if the Strait of Hormuz — a key shipping route for oil and other energy products — isn't reopened. Iran responded in turn said it would target U.S. infrastructure, including energy and desalination facilities in the Gulf, if the U.S. carried out its threat. Crude prices rose in early trading Sunday. West Texas Intermediate futures climbed 0.5% to $98.73 per barrel. International benchmark Brent advanced 0.5% to $112.76. "Clearly, Iran is not backing down," wrote Ben Emons, CIO and founder of Fed Watch Advisors. "The risk-off sentiment could worsen substantially this week, with the first visible macro effects in a deluge of global PMI data. … Portfolio de-risking could continue, making cash a viable asset again." The S&P Global Flash U.S. PMI report is due Tuesday morning. Investors will also be keeping an eye on support levels. The S&P 500 last week broke below its 200-day moving average for the first time since May. The Dow and Nasdaq fell around 2% each last week, while the S&P 500 lost 1.5%. For the Dow, it also marks its first four-week losing streak since 2023. 7 Min Ago Watch semis this week, says Fundstrat Fundstrat technical strategist Mark Newton thinks semiconductor stocks could be vulnerable if the VanEck Semiconductor ETF (SMH) breaks below $369. It closed Friday's session at $384.74. "There very well could be a rotation back lower in both Memory stocks, Optical names, along with many of the Semi, an...
U.S. stock-index futures fell on Sunday, as new threats of escalation from both President Donald Trump and Iran threatened to intensify the conflict roiling the Persian Gulf region.
U.S. stock-index futures fell on Sunday, as new threats of escalation from both President Donald Trump and Iran threatened to intensify the conflict roiling the Persian Gulf region.