Three days after announcing the gaming industry's biggest layoff of 2026, Xbox CEO Asha Sharma accepted a new role shaping how the Federal Reserve thinks about AI and jobs for the next decade.
Three days after announcing the gaming industry's biggest layoff of 2026, Xbox CEO Asha Sharma accepted a new role shaping how the Federal Reserve thinks about AI and jobs for the next decade.
Better Off? How Generational Progress Slowed In The US Bettering yourself financially or at least giving your children the opportunity for a more prosperous future has driven people to emigrate to the United States for generations. But is the next generation still better off in this day and age? The answer is yes, but not by that much. At least, as Statista's Katharina Buchholz reports, this is th...
Better Off? How Generational Progress Slowed In The US Bettering yourself financially or at least giving your children the opportunity for a more prosperous future has driven people to emigrate to the United States for generations. But is the next generation still better off in this day and age? The answer is yes, but not by that much. At least, as Statista's Katharina Buchholz reports, this is the verdict given in a discussion paper published by the Federal Reserve Board of Washington D.C. in 2024. It concludes that millennials' median household income at 36 to 40 years old was still 18 percent higher than that of Generation X at the same age. A millennial born in 1982 would have turned 40 in 2022, the last year the study looked at. You will find more infographics at Statista Gen X achieved a similarly low increase of median household incomes over Baby Boomers at 16 percent. This is in contrast to the post-war generation, which at age 36-40 earned 27 percent more than the Silent Generation. For this generation growing up during World War II, the number still stood at 34 percent on average. Taking as a baseline the Greatest Generation, which was born between 1900 and 1927, the Silent Generation earned 34 percent more, while Boomers made a cumulative 70 percent more, Gen X took home 97 percent more and finally Millennials brought in 133 percent more than the Greatest Generation even when adjusted for inflation. The data also shows that the Silent Generation worked 14 percent more hours than the generation before and Boomers worked another 14 percent more. However, working hours have been relatively stable for generations since. While the numbers show that average income wealth rose in the United States over time and that more people gained access to at least a middle-class life over the decades, this doesn't mean that everybody is necessarily making more than those who came before. A study published in 2017 and widely reported then showed that only 50 percent of peop...
Verastem (VSTM) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
Verastem (VSTM) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
AdrianHancu/iStock Editorial via Getty Images Shares of South Korean semiconductor giant SK Hynix ( SKHY ) are set to start trading on the Nasdaq on Friday, and the debut is making some serious waves. Priced at $149 per share, or raising a total of $26.5B, the American Depositary Receipt offering marks the largest-ever listing by a foreign company in the U.S. The issuance was even seven times over...
AdrianHancu/iStock Editorial via Getty Images Shares of South Korean semiconductor giant SK Hynix ( SKHY ) are set to start trading on the Nasdaq on Friday, and the debut is making some serious waves. Priced at $149 per share, or raising a total of $26.5B, the American Depositary Receipt offering marks the largest-ever listing by a foreign company in the U.S. The issuance was even seven times oversubscribed , as the firm's high-bandwidth memory chips continue to power the infrastructure of the AI revolution. Snapshot: SK Hynix ( SKHY ) has already been on a tear in its home country, where its market capitalization topped $1T on the Korean exchange in May (as did rival Samsung Electronics). Its stock price there more than tripled this year, with tech giants far and wide splashing hundreds of billions of dollars to power their AI dreams. The new cash from SK's share sale in the U.S. is going straight into keeping up its manufacturing capacity by building new mega-fabs and purchasing expensive lithography equipment from ASML ( ASML ). The terminology can be confusing. SK Hynix's ( SKHY ) capital raise in New York is being legally structured as a U.S. IPO that's using American Depositary Receipts (ADRs) as the vehicle. Each ADR is equivalent to a tenth of a Seoul-traded common share and gives U.S. investors a way to buy SK shares ( SKHY ) without having to trade via an overseas stock exchange. It should also drive a valuation reset by eliminating the "Korea Discount," or the systemic undervaluation of South Korean companies compared to their American peers, which generally trade at much higher price-to-earnings multiples. SA commentary: "SKHY is about 32% of the DRAM market (57% of HBM) and counts Nvidia ( NVDA ) as an anchor customer, providing it with 70% of its HBM supply. Its HBM revenue as a percent of total is about 14% vs. Micron ( MU ) at 11%, which may explain the slightly higher margins," noted analyst Ricardo Fernandez. "Once SKHY is ADR listed, I believe it ...
OpenAI's ( OPENAI ) CEO of AGI Deployment Fidji Simo is leaving her full-time role at the company and transitioning to being a part-time advisor due to health reasons. Simo joined the AI giant last August and previously served as CEO of Instacart. Simo had gone on medical leave three months ago after an exacerbation of a chronic illness she had lived with for seven years. She said in posts on X an...
OpenAI's ( OPENAI ) CEO of AGI Deployment Fidji Simo is leaving her full-time role at the company and transitioning to being a part-time advisor due to health reasons. Simo joined the AI giant last August and previously served as CEO of Instacart. Simo had gone on medical leave three months ago after an exacerbation of a chronic illness she had lived with for seven years. She said in posts on X and LinkedIn that during that time, it became clear that her road to recovery would be much longer than expected and that she needed to focus on it. "In particular, curing disease is the most important thing AI could accomplish. I’m excited to continue working towards cures through OpenAI but also through my work with ChronicleBio and Complex Disorders Alliance," said Simo in posts on X and LinkedIn. I’m deeply grateful to Sam, Greg and the OpenAI board for their support during this time and for offering a way for me to continue contributing to the mission without sacrificing my chances of recovery. Simo, effectively the number two executive at OpenAI, was selected by CEO Sam Altman to lead OpenAI’s product and business divisions, and she was expected to take on an even larger role once it went public. Reportedly, she had taken many managerial responsibilities from Altman, including overseeing the CFO and chief revenue officer. Simo came aboard to accelerate ChatGPT's growth, and she saw the introduction of ads to the popular chatbot and features such as health advice. "I am really sad about this and very grateful for all fidji has done for openai, and even grateful for her friendship and who she is as a person," said Altman in a post on X. OpenAI did not immediately respond to Seeking Alpha's request for comment about plans to appoint a replacement for the role. More on OpenAI OpenAI IPO Delay: A Symptom Of A Tech Bubble? OpenAI: Mega IPO Faces Anthropic Claude Mythos Reckoning Wall Street Lunch: Hot Labor Market Defies Predictions Of AI-Led Job Losses OpenAI, Google sold AI...
da-kuk/E+ via Getty Images A surge in options market pessimism could signal further gains for U.S. equities if historical patterns hold, according to data shared by Daily Chartbook. The equity put/call ratio climbed above 0.85 on Wednesday, a level that has marked periods of heightened investor fear. Since 2023, the indicator has reached that threshold 11 previous times, with the S&P 500 ( SPX ) p...
da-kuk/E+ via Getty Images A surge in options market pessimism could signal further gains for U.S. equities if historical patterns hold, according to data shared by Daily Chartbook. The equity put/call ratio climbed above 0.85 on Wednesday, a level that has marked periods of heightened investor fear. Since 2023, the indicator has reached that threshold 11 previous times, with the S&P 500 ( SPX ) posting gains five trading days later in 10 of those instances, according to the analysis. The accompanying chart shows the put/call ratio has typically spiked during short-lived bouts of market weakness before retreating as equities recovered. Over the 11 prior signals, the S&P 500 delivered a median gain of 1.2% five days later and recorded positive returns more than 90% of the time over one-, four-, and five-day horizons. The data also suggest downside following these signals has generally been limited. The median maximum drawdown after previous spikes was less than 1% over the subsequent five trading days, while the median peak gain reached about 3% over the same period. The latest reading comes after renewed volatility driven by geopolitical tensions and shifting expectations for interest rates. While the put/call ratio is not a standalone market timing tool, the historical data suggest extreme bearish positioning has often coincided with short-term buying opportunities for U.S. equities. Here is the chart: Daily Chartbook More on markets Selling Winners, Buying Losers Initial Unemployment Claims Down 2K, Lower Than Expected AAII Sentiment Survey: Pessimism Drops Stock futures mixed after chip-led rally as focus shifts to SK Hynix debut U.S. says no fresh attacks on Iran; technical talks continue - report