Stock Movers: Samsung, Nike, PayPal
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Meta Faces Italy Probe Over WhatsApp AI
Meta Platforms (NASDAQ:META) sees Italy's antitrust watchdog taking a hard look at its AI?WhatsApp tie?up. Ask Italy's Competition Authority and you'll learn it opened a probe into bundling Meta AI within WhatsApp without users asking for it. Warning! GuruFocus has detected 5 Warning Sign with META. Working with the Special Antitrust Unit of the Italian Financial Police, AGCM even inspected Facebook Italy's offices last week. The regulator warns that forcing AI into a familiar chat app risks trapping users in services they didn't choose. Meta insists it's simply giving millions of Italians free access to AI where they already spend time, and says it's fully cooperating with investigators. Regulators aren't convinced. They fear that as Meta AI learns from chats and grows more useful, users will become dependentand competitors will be squeezed out. Under EU rules, fines could reach 10% of Meta's global turnover if the probe finds antitrust breaches. This investigation highlights Europe's tougher stance on default AI integrations and could force Big Tech to unbundle or face heavy penalties. Investors will be watching AGCM's findings through year?end as the outcome may set a precedent for AI bundling across the EU. This article first appeared on GuruFocus. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Yahoo
19 minutes ago
- Yahoo
Trump calls GOP's Hawley 'second tier' senator after stock trading ban bill advances
WASHINGTON (AP) — President Donald Trump lashed out at Sen. Josh Hawley on Wednesday after the Republican's proposal to ban stock trading by members of Congress — and the president and vice president — won bipartisan approval to advance in a committee vote. It's the second time in as many days that Trump laid into senators in his own party as the president tries, sometimes without success, to publicly pressure them to fall in line. A day earlier Trump tore into veteran GOP Sen. Chuck Grassley of Iowa over an obscure Senate procedure regarding nominations. Trump called Hawley a 'second rate Senator.' GOP senators had been working with the White House on the stock trade bill, and proposed a carve-out to shield the president from the ban, but it failed. But Trump complained that Hawley joined with Democrats to block another amendment that would have investigated the stock trades of Democratic Rep. Nancy Pelosi, the speaker emerita. 'Why would one 'Republican,' Senator Josh Hawley from the Great State of Missouri, join with all of the Democrats, to block a Review,' Trump said. Hawley did not immediately respond to Trump's post. But Hawley's legislation with the panel's top Democrat, Sen. Gary Peters of Michigan, sailed out of the Senate Committee on Homeland Security and Governmental Affairs on a bipartisan vote over the objections of the other Republicans, who have majority control. 'We have an opportunity here today to do something that the public has wanted to do for decades,' Hawley told the panel. 'And that is to ban members of Congress from profiting on information that frankly only members of Congress have on the buying and selling of stock.' Stock trading by members of Congress has long been an issue that the parties have tried to tackle, especially as some elected officials have become wealthy while in elected office. During the COVID-19 pandemic, in particular, it was disclosed that lawmakers were trading as information about the health crisis as it became known. Insider trading laws don't always apply to the types of information lawmakers receive. In a joint statement, Hawley and Peters said the legislation, called the Honest Act, builds on an earlier bill and would ban members of Congress, the president, vice president and their spouses from holding, buying or selling stock. If the bill were to become law, it would immediately prohibit elected officials, including the president, from buying stocks and would ban them from selling stocks for 90 days after enactment. It also requires the elected officials to divest from all covered investments, starting at the beginning of their next term in office. 'We are one step closer to getting this bill passed into law and finally barring bad actors from taking advantage of their positions for their own financial gain,' Peters said in a statement. But during the committee hearing, tensions flared as Republicans sought other approaches. GOP Sen. Rick Scott of Florida proposed one amendment that would exempt the president, the vice president, their spouses and dependent children, from the legislation, and another that would have required a report on Pelosi's trades. Both were defeated, with Hawley joining the Democrats. One Republican, Sen. Ron Johnson of Wisconsin, said the overall bill is 'legislative demagoguery.' 'We do have insider trading laws. We have financial disclosure. Trust me, we have financial disclosure,' Johnson said. 'So I don't see the necessity of this.' Trump's post criticizing Hawley comes after a similar blowback directed Tuesday night at Grassley. In that post, Trump pressured Grassley to do away with the Senate's longtime 'blue slip' custom that often forces bipartisan support on presidential nominations of federal judges. The practice requires both senators in a state to agree to push a nominee forward for a vote. Trump told Grassley to do away with the practice. 'Senator Grassley must step up,' Trump said, while claiming that he helped the senator, who was first elected in 1980, to win reelection. Grassley earlier Wednesday said he was 'offended' by what the president said. ___
Yahoo
19 minutes ago
- Yahoo
Why Nvidia Could Be the Biggest Tech Winner of the 'One Big Beautiful Bill'
Key Takeaways Certain tax changes within the One Big Beautiful Bill Act, enacted earlier this month, could incentivize tech giants to increase their spending on Nvidia chips and other AI infrastructure in coming years. The ability to immediately write off certain capital investments is expected to increase Amazon, Alphabet, and Meta Platforms' free cash flows by nearly $50 billion in 2025. Alphabet last week raised its full-year capital expenditures forecast, citing the need to increase AI investments to meet booming this month, Nvidia became the first company in history to be valued at $4 trillion, a figure that could look paltry in coming years if the recently enacted One Big Beautiful Bill Act is the tailwind some on Wall Street think it could be. The bill, signed into law by President Donald Trump on July 4, allows the immediate depreciation of capital investments that previously were written off over years. Morgan Stanley expects that and related depreciation changes to raise Amazon (AMZN), Alphabet (GOOGL), and Meta Platforms' (META) collective free cash flows by nearly $49.5 billion this year and about $29.2 billion in 2026. Analysts expect the tech giants will invest those savings in infrastructure as they race to meet booming demand for artificial intelligence and cloud computing. "In our view these tax benefits could be designed to incentivize/enable the leading US tech companies to invest even more aggressively in GenAI in order to keep the US in a secure position in the global GenAI race," wrote Morgan Stanley analyst Brian Nowak in a note on Sunday. AI Investment 'Yet To Hit Full Stride' Hyperscalers Microsoft, Amazon, Alphabet, and Meta have cumulatively spent hundreds of billions of dollars on AI infrastructure in the past few years. Yet executives repeatedly have said their cloud computing and AI businesses cannot keep up with demand. The ability to deduct AI investments in the year they're made will likely incentivize tech giants to increase those investments, both to increase computing capacity and to save on taxes. Less than a month after OBBBA was passed, there already are signs that AI investment could pick up this year. Last week, Google's parent, Alphabet, the first of the four hyperscalers to report second-quarter earnings, raised its capital expenditures forecast by $10 billion, or about 13%. That, according to Morgan Stanley analyst Joseph Moore, is evidence that "demand for GPUs has yet to hit full stride in 2025." Nvidia Expected To Retain Majority of AI Spend Nvidia has been the biggest beneficiary of AI investment. The chip maker's quarterly revenue has more than quintupled in the last two years, reaching a record $44 billion in the first quarter of the current fiscal year. Nvidia's chips are one of the largest expenses for tech giants building data centers, and the company's share of the fast-growing pie is expected to get bigger in the coming years. BofA forecasts AI accelerators will account for more than 65% of all data center spending by 2030, up from about 38% in 2024. And Nvidia is expected to command about 80% market share over that period. Read the original article on Investopedia Sign in to access your portfolio
