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The EU's center-right EPP alliance advocates for maintaining climate targets while allowing exemptions for e-fuels, urging a reversal of the planned combustion engine ban to ensure technological neutrality. Meanwhile, SpaceX's valuation has surged to $350 billion following a significant share sale, and Adidas is under investigation for customs compliance issues. Additionally, China has initiated proceedings against Nvidia for alleged anti-monopoly violations, and Bitcoin has reached a record high of over $106,000, driven by market optimism following Donald Trump's election.
Boeing's head of government affairs and top lobbyist, Ziad Ojakli, is leaving the company effective immediately, as announced by CEO Kelly Ortberg in an email to employees. Ojakli, who joined Boeing in September 2021, will be temporarily succeeded by Bill McSherry. The company has faced challenges this year, including a significant incident involving a door plug on a Boeing 737 Max 9 jet.
Waymo plans to expand its robotaxi service to Miami, starting with human safety drivers in 2025 and launching the service via the Waymo One app in 2026. This move reflects the company's confidence in operating in challenging weather conditions, building on previous tests in the city. With a recent $5.6 billion funding round, Waymo continues to grow its operations, now offering over 150,000 paid rides weekly across major U.S. cities.
OpenAI has reached a milestone of 300 million weekly active users, as announced by CEO Sam Altman at The New York Times’ DealBook Summit. The company aims to grow to 1 billion users within a year, competing against rivals like Amazon-backed Anthropic and Elon Musk’s xAI. OpenAI's valuation has surged to $157 billion, bolstered by significant investments from Microsoft, while it also recently appointed its first chief marketing officer to enhance its growth strategy.
Stocks futures are stable as investors await the PCE price index report and personal income and consumer spending data, both due at 10 a.m. ET. The Fed is expected to continue gradually cutting interest rates, reflecting confidence in inflation and the labor market.SoftBank plans to invest $1.5 billion in OpenAI, allowing employees to sell shares, following a recent $6.6 billion financing round. Meanwhile, Constellation Brands faces potential challenges from proposed tariffs on Mexican goods, which could significantly increase costs.In entertainment, the Thanksgiving box office is projected to be the best in years, driven by the releases of "Moana 2," "Wicked," and "Gladiator II," potentially leading to record results for the holiday weekend.
U.S. markets are responding positively to President-elect Donald Trump's policies, with the S&P 500 and Dow Jones hitting record highs despite his tariff threats. The Federal Reserve plans to gradually lower interest rates if inflation stabilizes at 2% and employment remains strong. Meanwhile, Softbank invests $1.5 billion in OpenAI, reflecting ongoing interest in tech advancements.
OpenAI has secured a $1.5 billion investment from SoftBank, enabling employees to sell shares in a tender offer. This move allows current and former employees to cash out while SoftBank increases its stake in the AI startup, which has seen its valuation soar to $157 billion since launching ChatGPT. The tender offer is open until December 24 for eligible employees, reflecting a shift in OpenAI's approach to liquidity amid a competitive AI landscape.
Super Micro Computer is experiencing a recovery rally on Wall Street, with the SMI higher in pre-market trading, while major Japanese chip stocks like Tokyo Electron and Advantest saw declines. Concerns linger over Nvidia"s upcoming guidance, as analysts highlight the importance of chip demand for the next quarter, with Nvidia"s performance serving as a key indicator for the tech sector"s AI trajectory.
Zomato anticipates a 30% annual growth in its food delivery business over the next five years, holding a 58% market share compared to Swiggy"s 34%. The sector, still in its early stages, is expected to benefit from increased competition and innovation, especially following Swiggy"s recent public listing valued at $12.1 billion.
Forward, a healthcare startup that aimed to revolutionize basic medical care through high-tech kiosks called "Carepods," has abruptly shut down despite raising over $660 million. The company, which offered services like health screenings and virtual consultations for a monthly fee, struggled to attract customers and faced high operational costs. CEO Aoun envisioned a modern healthcare experience akin to building a Tesla or iPhone, but ultimately, the demand for such a model was lacking.
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