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U.S. Power Stocks Tumble Amid DeepSeek AI Breakthrough

Jan 28, 2025 02:23 am UTC| Technology Business

Shares of U.S. power, utility, and natural gas companies plummeted Monday in a historic sell-off. The decline followed news of DeepSeek, a Chinese AI start-up, unveiling advanced, cost-efficient technology that challenges...

Nvidia Chips Drive Chinese AI Growth Despite Export Controls

Jan 28, 2025 02:23 am UTC| Technology Business

Nvidia (NASDAQ:NVDA) highlighted the rising demand for its chips in China after DeepSeek, a leading Chinese AI firm, showcased its advancements using Nvidias H800 GPUs. The statement followed Nvidias shares dropping 17% to...

Global Tech Stocks Tumble Amid DeepSeek AI Disruption

Jan 28, 2025 02:23 am UTC| Technology Business

Investors offloaded tech stocks globally on Monday, wiping $592.7 billion from Nvidias (NASDAQ:NVDA) market value as concerns grew over DeepSeek, a Chinese AI model threatening industry leaders. DeepSeeks free AI...

Global EV Sales to Surge 17% in 2025 Amid Subsidy Extensions and Emission Targets

Jan 28, 2025 02:21 am UTC| Economy Technology Business

Global electric vehicle (EV) sales are expected to grow by over 17% in 2025, surpassing 20 million units, driven by Chinas extension of auto trade-in subsidies and new CO2 emission targets in Europe, according to Rho...

Trump Calls Chinese AI Model DeepSeek a ‘Wake-Up Call’ for U.S. Tech

Jan 28, 2025 02:21 am UTC| Technology Business Politics

U.S. President Donald Trump highlighted the potential impact of Chinas newly launched AI model, DeepSeek, calling it a wake-up call for Silicon Valley during an address to Republican lawmakers in Miami. DeepSeek, released...

Nvidia Stock Plummets Amid Competition from DeepSeek's AI Models

Jan 28, 2025 02:21 am UTC| Technology Business

Shares of Nvidia (NASDAQ:NVDA) plunged 16.86% on Monday, wiping out $589 billion in market value, following the debut of DeepSeeks new AI models. The sell-off marked the largest single-day market value loss in history,...

DeepSeek AI Overtakes ChatGPT as Top App in U.S. App Store

Jan 27, 2025 08:13 am UTC| Technology Business

Chinese startup DeepSeeks AI Assistant has surpassed ChatGPT to become the top-rated free app on Apples (NASDAQ:AAPL) U.S. App Store. Powered by the DeepSeek-V3 model, touted as one of the most advanced open-source AI...

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Economy

UAE Central Bank Probes Banque Misr Over Iran Links

The Central Bank of the United Arab Emirates has launched an urgent investigation into Banque Misrs UAE branches following a U.S. move to restrict the lenders access to the dollar clearing system over alleged financial...

Canadian Dollar Slides as Fed Rate Hike Bets Boost US Dollar

The Canadian dollar weakened on Friday and was on track for its sharpest weekly decline in more than two months, as a stronger U.S. dollar overshadowed surprisingly robust Canadian economic growth. The loonie traded near...

Bessent Defends US Yen Intervention Over Treasury Market Risks

U.S. Treasury Secretary Scott Bessent has defended Washingtons decision to support the Japanese yen in late July, arguing that severe currency volatility could threaten global financial stability and ultimately push U.S....

US Dollar Hits Two-Week High After Hawkish Fed Speech

The U.S. dollar climbed to a near two-week high on Friday after Federal Reserve Chair Kevin Warsh delivered a hawkish message at the Jackson Hole Economic Policy Symposium, strengthening expectations for a September...

Oil Prices Slip as Venezuela Supply Prospects Weigh on Market

Oil prices edged lower on Friday as traders assessed reports that the United States was nearing a deal for long-term access to Venezuelan crude reserves, potentially opening the door to billions of dollars in investment...

Politics

King Haakon VIII Honors Late Father Harald in First Address

King Haakon VIII of Norway paid an emotional tribute to his late father, King Harald, in his first address to the nation since ascending the throne, praising him as a devoted parent and a monarch who championed unity and...

Iceland Counts Votes in Close EU Membership Talks Referendum

Iceland began counting ballots late Saturday after voters took part in a closely contested referendum on whether the country should reopen European Union membership negotiations, reviving a decades-long debate over...

South Korea Leveraged Chip ETF Trading Plunges After New Rules

South Korean retail investors are rapidly retreating from leveraged exchange-traded funds linked to Samsung Electronics and SK Hynix after regulators imposed stricter trading requirements, Bloomberg reported Sunday....

Finland’s Stubb Says Russia Unlikely to Attack NATO

Finland President Alexander Stubb has played down concerns that Russia could launch an attack against a NATO member, arguing that Moscow would have little reason to challenge the worlds most powerful military alliance....

Nepal Declines Foreign Rescue Aid After Deadly Flash Flood

Nepal has said it does not currently require foreign search-and-rescue assistance following a devastating flash flood that killed nearly 500 people and left hundreds of foreign nationals missing. The disaster struck...

Science

Blue Origin New Glenn Explosion Could Delay Launch Operations Until 2028

Blue Origin is facing a significant setback after a dramatic explosion involving its New Glenn rocket severely damaged a launch pad at Cape Canaveral, Florida. According to NASA Administrator Jared Isaacman, repairs to the...

Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions

Blue Origin suffered a major setback after its uncrewed New Glenn rocket exploded during a launch pad test in Florida on Thursday, raising new challenges for Jeff Bezos space company as it competes with Elon Musks SpaceX...

SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO

SpaceX on Thursday postponed the highly anticipated launch of its 12th Starship rocket test from Texas after technical issues interrupted the final countdown. The company now plans to attempt the Starship V3 launch again...

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

Technology

Pinterest Stock Falls as CFO Julia Brau Donnelly Resigns

Pinterest Inc. (NYSE: PINS) shares fell sharply in after-hours trading on Friday after the social media company announced the resignation of Chief Financial Officer Julia Brau Donnelly, prompting investor attention on the...

PayPal Shares Sink as $50 Billion Takeover Bid Collapses

PayPal Holdings (NASDAQ: PYPL) shares plunged in extended trading after a consortium led by private equity firm Advent International and payments giant Stripe reportedly ended its pursuit of the digital payments company....

Nvidia Pauses AI Cloud Financing Deals Amid Antitrust Concerns

Nvidia has temporarily halted some deals tied to a recently introduced financing program for artificial intelligence cloud companies, amid internal concerns that the arrangement could attract greater antitrust scrutiny,...

Google Changes EU Spam Policy Amid Antitrust Scrutiny

Google has revised its spam policy in Europe after concerns from European Union regulators raised the possibility of a significant antitrust fine for Alphabet, the search giants parent company. The company said Friday that...

U.S. Probes Apex Logistics Over Nvidia AI Chip Shipments to China

The U.S. government is investigating Singapore-based Apex Logistics over allegations that the freight company helped transport Nvidia AI chips and computer systems to China despite U.S. export restrictions, Bloomberg...