Uber said its net income took a $1.5 billion hit in the first quarter of 2026 due to the revaluation of the company's equity investments.
Defense sector investors should reconsider valuations due to evolving warfare and AI, according to Panmure Liberum strategist Joachim Klement. He notes a shift from legacy platforms to AI-enabled systems and drones, suggesting defense companies may need to be valued like tech firms.
SpaceX President Gwynne Shotwell announced a donation of her and her husband's SpaceX stock to the Trump Accounts program, benefiting approximately 2 million American children, with a focus on those near their central Texas home.
Swedish fintech Klarna has applied to federal and state regulators to establish a U.S. bank subsidiary, Klarna Bank USA, chartered in Utah and backed by FDIC. This move aims to bring banking operations in-house, offer broader consumer services, and enhance competition in the market.
Microsoft is eliminating 4,800 jobs, 2.1% of its workforce, with the Xbox division losing 20% of its staff, or 3,200 roles, by fiscal year 2027. These cuts are part of cost-reduction efforts amid investor concerns about AI and lagging revenue in areas like Windows and Xbox.
Jim Cramer's Charitable Trust plans to buy 120 shares of Intel (INTC) at approximately $124 each, increasing its portfolio weighting to 2.7%. This move follows a 14% drop in Intel shares last week, with Cramer's team remaining bullish on long-term demand and the foundry business.
AI company Anthropic has signed a 20-year lease for a 400-megawatt data center in Hawesville, Kentucky, operated by TeraWulf. The deal is expected to generate $19 billion in revenue and boost TeraWulf's stock, which has already risen over 80% this year.
