Uber Technologies Inc. has set usage caps on some artificial intelligence-powered tools used by its staff, a move meant to manage costs after the company blew through its AI budget earlier this year. The rideshare giant is limiting all employees to $1,500 in monthly token spending per AI coding tool, an Uber spokesperson said in response to a Bloomberg News inquiry. That means spending on one tool...
Uber Technologies Inc. has set usage caps on some artificial intelligence-powered tools used by its staff, a move meant to manage costs after the company blew through its AI budget earlier this year. The rideshare giant is limiting all employees to $1,500 in monthly token spending per AI coding tool, an Uber spokesperson said in response to a Bloomberg News inquiry. That means spending on one tool doesn’t have a bearing on the budget for another. The limits, which have been instituted in recent months, only apply to agentic coding software such as Cursor or Anthropic PBC ’s Claude Code. Every employee has a dashboard where they can track their usage across various tools. The company has also implemented a process by which individuals can seek permission to exceed their normal cap. “We think this is all a pretty straightforward way to responsibly encourage agentic AI adoption and experimentation at scale across the company,” the spokesperson said. Shares of Uber hit a session low as they extended declines to trade 2.7% lower. The limits, which have not been reported, come in response to Uber’s growing embrace of AI tools internally. Chief Technology Officer Praveen Neppalli Naga told the Information in April that the company had already maxed out its full-year AI budget. Chief Executive Officer Dara Khosrowshahi said last month that about 10% of the company’s code was submitted and built by AI agents, and that the legal and marketing teams have seen an uptick in usage. Beyond Uber, other companies in different sectors are toeing a line between seeking a productivity boost from AI tools while trying to rein in associated costs. Uber said last month that it will moderate the overall pace of hiring relative to its plans entering the year, as a result of the benefits from using AI internally. Still, it remains to be seen whether leaning into AI tools is translating into more new features for Uber’s customers, according to Chief Operating Officer Andrew Macdonald . “It’s ...
The S&P 500 has overcome worries about artificial intelligence and the fallout from the war in Iran to stage one of its strongest two-month showings on record.
The S&P 500 has overcome worries about artificial intelligence and the fallout from the war in Iran to stage one of its strongest two-month showings on record.
AppLovin (NASDAQ: APP) has shifted from a gaming-linked ad company into a high-margin AI software platform. Axon 2, the sale of its gaming business, and the push into e-commerce could create a powerful next chapter, but the stock's huge run and debt load make this a story investors need to watch carefully. *Stock prices used were the market prices of May 22, 2026. The video was published on May 30...
AppLovin (NASDAQ: APP) has shifted from a gaming-linked ad company into a high-margin AI software platform. Axon 2, the sale of its gaming business, and the push into e-commerce could create a powerful next chapter, but the stock's huge run and debt load make this a story investors need to watch carefully. *Stock prices used were the market prices of May 22, 2026. The video was published on May 30, 2026. Continue reading
If you want to buy America's most prominent tech stocks, one of the easiest ways to do that is to buy the Invesco QQQ Trust (NASDAQ: QQQ) . This fund tracks the tech-heavy Nasdaq-100 index, so it gives you exposure to all the major tech names driving the artificial intelligence (AI) boom . And this tech ETF is so well-regarded and popular that it's known by its nickname: "The Qs." In the past 10 y...
If you want to buy America's most prominent tech stocks, one of the easiest ways to do that is to buy the Invesco QQQ Trust (NASDAQ: QQQ) . This fund tracks the tech-heavy Nasdaq-100 index, so it gives you exposure to all the major tech names driving the artificial intelligence (AI) boom . And this tech ETF is so well-regarded and popular that it's known by its nickname: "The Qs." In the past 10 years, the ETF has delivered average annual returns of 21.1%. This fund has outperformed the S&P 500 index 88% of the time during the past 10 years. Why would anyone buy anything else? Some investors might not want to buy the Qs but still want exposure to major tech stocks . Some investors might not have access to the Qs through their retirement plan or brokerage account platform. If you want an alternative to buying the Invesco QQQ Trust, Vanguard offers a low-cost index fund called the Vanguard S&P 500 Growth ETF (NYSEMKT: VOOG) , which could be a good choice. Continue reading
Europe and Japan’s earnings outlooks have improved, with double-digit growth expectations, though upgrades are concentrated in technology and energy, while inflation pressures could weigh on valuations. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, and co-host Laurent Douillet, senior equity strategist at BI, speak with Tom...
Europe and Japan’s earnings outlooks have improved, with double-digit growth expectations, though upgrades are concentrated in technology and energy, while inflation pressures could weigh on valuations. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, and co-host Laurent Douillet, senior equity strategist at BI, speak with Tom Coutts and Lawrence Burns, portfolio managers at Baillie Gifford, and subadvisers on the Vanguard I
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. The S & P 500 touched fresh record highs on Tuesday, driven by Nvidia and other chipmakers. However, Jim Cramer said he is unimpressed by the parabolic moves in the AI trade, pointing to Marvell Technology's 29% surge on Tuesday after Nvidia CEO ...
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. The S & P 500 touched fresh record highs on Tuesday, driven by Nvidia and other chipmakers. However, Jim Cramer said he is unimpressed by the parabolic moves in the AI trade, pointing to Marvell Technology's 29% surge on Tuesday after Nvidia CEO Jensen Huang said it would be the next trillion-dollar company. "I don't like that level of enthusiasm," Jim said, noting that these moves draw money away from other sectors. 2. Shares of Alphabet are down over 2% after the Google parent announced plans to sell $80 billion in stock to fund its AI buildout, including a $10 billion investment by Berkshire Hathaway . Alphabet's plan to raise half of its capital using an at-the-market (ATM) strategy — in which a company incrementally sells newly issued shares into the secondary market over time to raise capital — is not a win for investors looking to buy the stock, Jim said. "You're not going to be able to get the stock really rolling because as soon as it starts rolling, they put [more] stock out. That's part of the problem with an ATM program." 3. Palo Alto Networks shares are down more than 1.5% on Tuesday, going into earnings after the close. The bar is high for the cybersecurity name, which has rallied more than 80% since the end of March. For this quarter's report, the company needs to show that AI is accelerating its business. The Street will also like to see more on the deal integrations with CyberArk and Chronosphere, and how they're supporting the consolidation of its platform. Jim is a fan of the company's performance under CEO Nikesh Arora, who will appear on "Mad Money" this evening. Jeff Marks, director of portfolio analysis, said that if we weren't restricted, we'd probably consider a trim to lock in profits. 4. Stocks covered in Tuesday's rapid fire at the end of the video were: Hewlett Packard Enterprise , Doll...
Elon Musk’s SpaceX is negotiating to pay razor-thin fees to Wall Street firms handling its IPO — but banks are still likely to rake in about $500 million from the record-setting market debut. Musk’s space and artificial-intelligence conglomerate is negotiating to pay less than 0.75% for the $75 billion it aims to drum up in an initial public offering this month, according to people with knowledge ...
Elon Musk’s SpaceX is negotiating to pay razor-thin fees to Wall Street firms handling its IPO — but banks are still likely to rake in about $500 million from the record-setting market debut. Musk’s space and artificial-intelligence conglomerate is negotiating to pay less than 0.75% for the $75 billion it aims to drum up in an initial public offering this month, according to people with knowledge of the matter. Even at that low spread, it will likely amount to one of the biggest fee events ever for Wall Street firms that arrange public listings. The lead banks — Goldman Sachs Group Inc. and Morgan Stanley — are positioned to take in a bigger share of the fee pool than the other 21 brokers involved. For more, we speak with Sri Natarajan, Chief Wall Street Correspondent for Bloomberg News. (Source: Bloomberg)
Revered investor Warren Buffett has said this about inflation: "The arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislature. The inflation tax has a fantastic ability to simply consume capital." The current rate of inflation in the U.S. is 3.8%, and even if that sounds manageable, it can do a number on your finances. Let's say y...
Revered investor Warren Buffett has said this about inflation: "The arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislature. The inflation tax has a fantastic ability to simply consume capital." The current rate of inflation in the U.S. is 3.8%, and even if that sounds manageable, it can do a number on your finances. Let's say your monthly expenses are $3,000. After one year, a 3.8% inflation rate means those expenses will cost $3,114. If inflation remains at 3.8% over five years, you'll be looking at monthly expenses of $3,617. Image source: Getty Images. Continue reading
Perplexity AI Inc. is trying to manage the huge demand for artificial intelligence computing power by building a platform that diverts AI work between personal computers and cloud-based servers. The AI search company developed software that acts like an air-traffic controller for AI tasks, Perplexity Chief Executive Officer Aravind Srinivas announced during the Computex conference in Taipei. The s...
Perplexity AI Inc. is trying to manage the huge demand for artificial intelligence computing power by building a platform that diverts AI work between personal computers and cloud-based servers. The AI search company developed software that acts like an air-traffic controller for AI tasks, Perplexity Chief Executive Officer Aravind Srinivas announced during the Computex conference in Taipei. The system decides in real time which jobs can run locally on a PC and which parts need to be handled by more powerful cloud servers. The goal is to reduce the cost of computing needed to run AI-enabled tasks, Srinivas said in a Bloomberg Television interview on Tuesday. “You don’t want all your compute centralized in servers and everything running through the largest models,” he said. “You’re already reading reports of how people are freaking out about their cost. Some people are spending half a billion dollars per month. What you actually want is for efficient value per watt per user.” Srinivas made the announcement alongside Intel Corp. CEO Lip-Bu Tan , whose company leads the market for PC processors. Still, the platform works with other technology, including Nvidia Corp. processors, and Srinivas said Perplexity plans to remain “chip agnostic.” As chips become more powerful, more inference — the process of running AI models after they are trained — is moving from data centers onto PCs and other devices at the edge of networks. Nvidia highlighted that shift at Computex with its new RTX Spark platform for AI-powered laptops and desktops. Read More: Nvidia Is Taking On Intel and AMD With AI Chip for Computers Like other top AI startups, Perplexity has seen the AI boom supercharge revenue growth. Srinivas posted on X in April that Perplexity’s revenue rose fivefold, from $100 million to $500 million, while headcount increased just 34%. The growth from bigger rivals such as OpenAI and Anthropic PBC has actually helped fuel Perplexity’s expansion, Srinivas said. “Every time any of...
J Studios/DigitalVision via Getty Images Thesis Back in 2023, we wrote an article on the Invesco Fundamental High Yield Corporate Bond ETF (PHB), an active high yield fund from Invesco. In that piece we detailed why we did not think PHB was an efficient investment vehicle for the asset class, and we assigned it a 'Sell' rating. The fund manager has recently changed both the name and the mandate fo...
J Studios/DigitalVision via Getty Images Thesis Back in 2023, we wrote an article on the Invesco Fundamental High Yield Corporate Bond ETF (PHB), an active high yield fund from Invesco. In that piece we detailed why we did not think PHB was an efficient investment vehicle for the asset class, and we assigned it a 'Sell' rating. The fund manager has recently changed both the name and the mandate for the fund, and we are going to explore these topics in depth in today's article while upgrading the name to Hold/Neutral given the composition. Name and mandate change From time to time, asset managers make changes to their funds if they do not gather as much investor capital as expected. To this end, the ETF's board of directors voted for changes in December 2025: At a meeting held on December 17, 2025, the Board of Trustees of the Invesco Exchange-Traded Fund Trust II approved changes to the name, underlying index, investment objective, principal investment strategies, non-fundamental investment policy and unitary management fee of the Fund. These changes will be effective on or about February 23, 2026 (the “Effective Date”). Therefore, on the Effective Date, the following changes will occur: 1.) Name and Ticker Symbol Change. The Fund’s name will change to Invesco Bloomberg Enhanced Fallen Angels ETF, and its ticker symbol will change to IFLN. 2.) Underlying Index and Index Provider Change. Bloomberg Index Services Limited (the “Index Provider”) will become the index provider of a new underlying index (the “New Underlying Index”) for the Fund. The New Underlying Index will replace the Fund’s Current Underlying Index, as set forth in the table below. So the new name is the Invesco Bloomberg Enhanced Fallen Angels ETF ( IFLN ) , but more importantly, the mandate has changed. Name changes do not matter if the underlying risk factors do not change, but usually you do not have one without the other. In this case the new focus of the ETF is a 'fallen angels' index: The ETF is...
Massachusetts Church Cancels Traditional July 4th Celebration "To Better Understand Our Own Whiteness" Authored by Jonathan Turley via JonathanTurley.org , In Nantucket, there is an interesting conflict between churches after the Nantucket Unitarian Universalists (NUU) canceled its traditional celebration . In a letter from the church and the Rev. Erin Splaine of the Second Congregational Meeting ...
Massachusetts Church Cancels Traditional July 4th Celebration "To Better Understand Our Own Whiteness" Authored by Jonathan Turley via JonathanTurley.org , In Nantucket, there is an interesting conflict between churches after the Nantucket Unitarian Universalists (NUU) canceled its traditional celebration . In a letter from the church and the Rev. Erin Splaine of the Second Congregational Meeting House Society , residents were told the traditional reading of the Declaration of Independence would be canceled to better focus on the "on-going process within the congregation to better understand our own whiteness." Across the country, July 4th celebrations are being canceled, and protests are planned for the nation's 250th anniversary. MS NOW anchor Ali Velshi declared this week, "I feel a deep unease about the celebrations to which I am invited to mark the 250th anniversary of our so-called democracy." The comment mirrors a recent poll showing that 85% of Democrats describe the U.S. in negative terms, and only 10% said they view it positively. For 25 years, the historic Nantucket Unitarian Meeting House has hosted a public reading of the Declaration of Independence and the Bill of Rights. The letter announcing the cancellation from Splaine and the NUU Nantucket church is full of the usual virtue-signaling jingoism that has become common on the left: "Our cancelling the 4th of July celebration this year reflects ... an on-going process within the congregation to better understand our own whiteness. ...For those of us who are white the experience of the Rights and Privileges conferred by the Declaration of Independence, The Bill of Rights, and the Constitution of the United States have, for centuries, been tragically, often violently, and unequally applied to fellow citizens who are not white." This type of pandering and posturing has become the norm today. In a time when the American flag is denounced as a divisive and "triggering" symbol, a refusal to celebrate our Ind...