A former xAI engineer is suing the company and SpaceX, alleging he was fired for raising AI safety concerns about Grok days before SpaceX's historic IPO.
A former xAI engineer is suing the company and SpaceX, alleging he was fired for raising AI safety concerns about Grok days before SpaceX's historic IPO.
Fonterra Cooperative Group remains unsure how much rising fuel prices will impact the company and its suppliers in the 12 months ahead, according to Chief Executive Officer Richard Allen . Management is currently preparing budgets and business plans for the coming years, and the surge in costs for fuel and freight is a big discussion topic, Allen said in an interview Wednesday at Fieldays, New Zea...
Fonterra Cooperative Group remains unsure how much rising fuel prices will impact the company and its suppliers in the 12 months ahead, according to Chief Executive Officer Richard Allen . Management is currently preparing budgets and business plans for the coming years, and the surge in costs for fuel and freight is a big discussion topic, Allen said in an interview Wednesday at Fieldays, New Zealand’s national agricultural exhibition. “We are anticipating additional costs and doing what we can to mitigate those,” Allen said. “It will have an impact but exactly what that is, I think that’s anyone’s guess.” Fonterra prefers long-term contracts to limit its exposure to volatility in its input costs, Allen said. That protected the company in the current financial year when prices spiked after the Middle East conflict erupted in late February. “It’s a pretty volatile situation and so for us it’s about working with our partners, putting in place those longer term contracts that give us the surety and then doing what we can on any given day to mitigate the impacts,” he said. Allen took over the reins of the world’s largest dairy exporter on May 1. The former global head of ingredients inherited a business streamlined after the sale of its consumer unit. Last month, it raised its full-year earnings forecast, in part citing its ability to navigate ongoing supply chain disruption. Fonterra forecast the milk price in the season ending May 2027 would be centered around NZ$9.75 a kilogram of milksolids, up slightly from the estimated NZ$9.70 a kilogram in the season just ended. For now, the global demand for milk justifies that outlook, Allen said. “Demand is fairly robust but as inflationary pressures start to bite around the world, we might start to see some impacts on consumption and demand and that’s something we’ll watch very carefully,” he said. “At the moment we’re not seeing that, we are continuing to see good demand. But volatility is kind of the constant.” The payout...
Corning (NYSE: GLW) has manufactured glass right here in America since 1851. By 1880, it was the sole supplier of glass for Thomas Edison's original lightbulb, and today, it makes the glass for all of Apple 's iPhones. However, Corning stock has soared by 230% over the past 12 months because of red-hot demand for the company's fiber-optic cables for data centers, which help accelerate processing s...
Corning (NYSE: GLW) has manufactured glass right here in America since 1851. By 1880, it was the sole supplier of glass for Thomas Edison's original lightbulb, and today, it makes the glass for all of Apple 's iPhones. However, Corning stock has soared by 230% over the past 12 months because of red-hot demand for the company's fiber-optic cables for data centers, which help accelerate processing speeds in artificial intelligence (AI) workloads. On Monday, June 8, Amazon announced a multiyear deal to purchase billions of dollars' worth of Corning's optical connectivity solutions, joining Meta Platforms and Nvidia , which have recently made large commitments of their own. These deals could fuel explosive growth in Corning's revenue and earnings, so should investors buy its stock right now? Continue reading
Comparing First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) and iShares U.S. Consumer Staples ETF (NYSEMKT:IYK) reveals a trade-off between the First Trust fund's niche focus and the iShares fund's lower costs and broader sector reach. These two exchange-traded funds both focus on defensive equities, a category of stocks that historically provides stability during market turbulence because they...
Comparing First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG) and iShares U.S. Consumer Staples ETF (NYSEMKT:IYK) reveals a trade-off between the First Trust fund's niche focus and the iShares fund's lower costs and broader sector reach. These two exchange-traded funds both focus on defensive equities, a category of stocks that historically provides stability during market turbulence because they sell essential products like food, beverages, and household staples. While the First Trust Nasdaq Food & Beverage ETF employs a "smart" index methodology to select food and beverage companies, the iShares U.S. Consumer Staples ETF offers a broader, cap-weighted approach to the entire domestic consumer staples sector. This comparison examines how their different scopes and cost structures affect their risk profiles and long-term performance potential for conservative investors. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The one-year return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield. Continue reading
Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners, told CNBC on June 10 that the technical setup under the AI trade has gotten silly. “Stocks in the AI trade got so far above their moving averages that you just knew that usually chart patterns like that are unsustainable,” he said. His call ... Wall Street CIO: The AI Trade is “Technically Unsustainable.” Buy These Two Indu...
Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners, told CNBC on June 10 that the technical setup under the AI trade has gotten silly. “Stocks in the AI trade got so far above their moving averages that you just knew that usually chart patterns like that are unsustainable,” he said. His call ... Wall Street CIO: The AI Trade is “Technically Unsustainable.” Buy These Two Industries Instead.
Gianni Infantino faced the media for the first time in three years, but he did little to convince that Fifa has lost its grip on the organisation of the 2026 World Cup.
Gianni Infantino faced the media for the first time in three years, but he did little to convince that Fifa has lost its grip on the organisation of the 2026 World Cup.
Matt84/E+ via Getty Images The Loch Ness Monster represents the ancient unknown rising out of the depths, and it is only half-believed and still half-dreamed, and yet impossible to fully kill. With that dramatic entrance out of the way, Tesla, Inc. ( TSLA ) stock is approximately the same price as during my last analysis of the company in April. It is very much an unconquerable beast that is heade...
Matt84/E+ via Getty Images The Loch Ness Monster represents the ancient unknown rising out of the depths, and it is only half-believed and still half-dreamed, and yet impossible to fully kill. With that dramatic entrance out of the way, Tesla, Inc. ( TSLA ) stock is approximately the same price as during my last analysis of the company in April. It is very much an unconquerable beast that is headed for so much of a league of its own both in vision and execution that I do not rank it alongside the other robotics companies when analyzing the emerging physical AI industry. TeslaXSpace, aka, X We are only just approaching the Space Exploration Technologies Corp., aka SpaceX ( SPCX ), IPO, but being who I am, I am going to look far ahead instead and build the valuation thesis for the visionaries among us. The caveat remains: the stock market's valuation laws do not apply here. After all, X is going interplanetary. “I think Elon will consolidate control and power of his two seminal assets into one cap table.” — Chamath Palihapitiya, venture capitalist. Source: All-In Podcast . “That’s in his heart. He wants to make this one big company.” — Walter Isaacson, Elon Musk biographer. Source: CNBC Squawk Box . “Musk wants to own and control more of the AI ecosystem and step by step the holy grail could be combining SpaceX and Tesla in some way.” — Dan Ives, Wedbush Securities. Source: Reuters . “Good idea.” — Elon Musk, responding to a proposal for an “X” holding company above Tesla, SpaceX, Neuralink, and The Boring Company. Source: Musk, on X. By 2027-2028, the likeliest clean structure to my mind is a new Texas X HoldCo above TSLA and SPCX, which would be executed all-stock. Imagine that X would become a controlled, multi-class capital-allocation vehicle funding Starship, Starlink, AI compute, Robotaxi, Optimus, and energy. Tesla would contribute $97.9B TTM revenue, $16.5B operating cash flow, and $9.5B capex. While SpaceX would contribute at a $1.75T IPO target , with $19.3B...
The Potemkin Ballot Authored by Spyridon Andrews via American Greatness, The only completely predictable result of an election in a Western democracy is election fraud. Fraud is so fundamental to Western democracies that it is fair to say that democracies exist in name only. In fact, elections have become so essential to illegitimate power that they are almost the surest path to subvert the will o...
The Potemkin Ballot Authored by Spyridon Andrews via American Greatness, The only completely predictable result of an election in a Western democracy is election fraud. Fraud is so fundamental to Western democracies that it is fair to say that democracies exist in name only. In fact, elections have become so essential to illegitimate power that they are almost the surest path to subvert the will of the people. Potemkin elections are essential ways for the ruling class to mask that they are truly in control. The notion of the divine right, or right of the aristocracy to rule, died a relatively quick death after the Renaissance. And the 14th-century political Renaissance led by figures such as Leonardo Bruni, the brilliant Renaissance historian who later became chancellor of Florence, brought back the notion of the Roman Republic to the modern era. Florence reinvented free elections of the citizenry; however, the notion of citizenry was limited compared to today. Palazzo Vecchio, the town hall of Florence, which sits on the Piazza della Signoria. Uniquely, Florence had no king, duke, or hereditary monarch during much of the Renaissance. Power was vested in the city’s executive governing council, or the signoria. The Council was led by a chief magistrate, known as the Gonfaloniere di Giustizia or justice . There were various legislative and advisory councils, as well as guilds that represented merchants, banks, craftsmen, and professionals. In order to avoid “corruption,” the Florentines used the lottery system. When a government position opened, names were drawn from bags. As a further precaution, terms were short, only two months, and rotations were constant. Cosimo the Elder or “Father of the Fatherland.” Posthumous portrait attributed to unknown 16th-century Florentine workshop artists. Enter the Medici. It was Cosimo de’ Medici who transformed the system into the dynasty that is famous in history. The Medici controlled the largest banking network in Europe and, co...
The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed down -1.62%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.87%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.98%. June E-mini S&P futures (ESM26 ) fell -1.62%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed down -1.62%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.87%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.98%. June E-mini S&P futures (ESM26 ) fell -1.62%, and June E-mini Nasdaq futures...
Andrew Yang’s 2020 presidential campaign was based on a warning that automation and AI would hollow out the labor market and concentrate wealth in the hands of a few. At the time, ideas like Universal Basic Income felt fringe. Now Dario Amodei, Sam Altman, and Bernie Sanders are all saying versions of the same thing. An entrepreneur at heart, […]
Andrew Yang’s 2020 presidential campaign was based on a warning that automation and AI would hollow out the labor market and concentrate wealth in the hands of a few. At the time, ideas like Universal Basic Income felt fringe. Now Dario Amodei, Sam Altman, and Bernie Sanders are all saying versions of the same thing. An entrepreneur at heart, […]
Jeff Swensen/Getty Images News Alcoa ( AA ) sank 9.4% on Wednesday, its biggest one-day drop in 14 months, after CFO Molly Beerman warned the company expects its a lumina segment to incur an unfavorable hit of ~$60M in Q2 from energy disruptions and the near-closure of the Strait of Hormuz. "Our alumina segment is very pressured right now," Beerman said at the Wells Fargo Industrials & Materials C...
Jeff Swensen/Getty Images News Alcoa ( AA ) sank 9.4% on Wednesday, its biggest one-day drop in 14 months, after CFO Molly Beerman warned the company expects its a lumina segment to incur an unfavorable hit of ~$60M in Q2 from energy disruptions and the near-closure of the Strait of Hormuz. "Our alumina segment is very pressured right now," Beerman said at the Wells Fargo Industrials & Materials Conference. "The segment as a whole will be underwater." In an investor presentation , Alcoa ( AA ) attributed the $60M impact to $30M in higher production costs at the Pinjarra refinery in Western Australia due to continued instability following Cyclone Narelle, $20M in higher prices of fuel oil and diesel associated with the Middle East conflict, and $10M in lower price and volume impacts from bauxite offtake agreements. Alcoa's ( AA ) alumina segment contributed nearly half of the company's adjusted EBITDA in FY 2025, and the company has been helped by soaring aluminum prices this year, but it is also one of the world's largest suppliers of seaborne alumina, a commodity that is particularly exposed to the disruption caused by the Iran war. The company's alumina refineries typically ship the raw material to aluminum smelters in the Persian Gulf; the refineries also consume large amounts of fuel and electricity, whose prices have surged since the start of the conflict. More on Alcoa Downgrading Alcoa As Aluminum Nears Prior Peak Alcoa: I Remain Bullish After The Massive Rally Alcoa Can See Tailwinds Driven By Geopolitical Risk