Author: Fortunes Wall

President Donald Trump signed an executive order on Thursday creating a Strategic BitcoinReserve, marking a major shift in U.S. digital asset policy. White House Crypto and AI Czar David Sacks, a Silicon Valley venture capitalist, wrote in a post on X that the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden. According to estimates, the U.S. government controls approximately 200,000 bitcoin, though no full audit has ever been conducted. Trump’s order mandates a comprehensive accounting of federal digital asset holdings and prohibits the sale of bitcoin from…

The GPU chipmaker has become one of the most closely watched companies in the world as a barometer for AI investment — and the broader stock market. Rarely has a single company’s earnings report been so closely watched by Wall Street as a make-or-break moment for the broader market. Nvidia, the chipmaker whose central role in the global artificial intelligence arms race has turned it into one of the world’s most valuable companies, reported its much-anticipated quarterly results Wednesday. It posted $39.3 billion in revenue, up a hefty 78% for the quarter that ended in January and ahead of analysts’…

Megacap technology companies funneled billions of dollars into artificial intelligence last year to try and keep up with unfettered demand. The hype isn’t dying down in 2025. Meta, Amazon, Alphabet and Microsoft intend to spend as much as $320 billion combined on AI technologies and datacenter buildouts in 2025, based on comments from their CEOs early this year and throughout earnings calls in the past two weeks. That’s up from $230 billion in total capital expenditures in 2024. Tech companies have already poured many billions of dollars into AI projects since ChatGPT’s 2022 debut, as they race to expand data…

GOTHENBURG, Feb 3 (Reuters) – Hemanth Mandapati, boss of German startup Novo AI, was an early adopter of DeepSeek chatbots when he switched to the Chinese AI model from OpenAI’s ChatGPT two weeks ago. “If you have built your application using OpenAI, you can easily migrate to the other ones … it took us minutes to switch,” he said in an interview on the sidelines of the GoWest conference for venture capitalists in Gothenburg, Sweden. DeepSeek’s emergence is changing the landscape for AI, offering companies access to the technology at a fraction of the cost, according to interviews with more…

As European automakers brace for a possible trade war waged by President Donald Trump, they are working to ward off another threat on their home turf: the prospect of paying hundreds of millions of dollars to Tesla and Chinese competitors muscling in on their core markets. Under stricter European Union regulations taking effect this year, automakers selling cars in Europe face hefty penalties if their vehicle production fails to meet tough targets for reducing carbon emissions. With demand for electric cars in Europe slumping and manufacturers squeezed by competition from China, automakers, politicians and industry groups are lobbying for relief.…

Truth Social parent Trump Media and Technology Group said on Wednesday its board of directors has approved the launch of a financial services and FinTech brand Truth.Fi, sending shares of the firm up over 11% in early trading. The company board has also authorized an investment of up to $250 million through Charles Schwab as it seeks to diversify its cash holdings, which exceeded $700 million at the close of the previous year. The Sarasota, Florida-based company said it plans to allocate these funds into various investment options, including exchange-traded funds, separately managed accounts (SMAs), Bitcoin, and other cryptocurrencies. Trump…

Boeing, grappling with staggering financial losses from a crippling strike and years of operational and safety challenges, is now turning to major banks and Wall Street to raise tens of billions of dollars in much-needed cash. The aerospace giant has been struggling to stabilize amid mounting crises that have rocked its operations and reputation. In a regulatory filing released early Tuesday, Boeing announced plans to borrow $10 billion from a consortium of banks. Simultaneously, it revealed plans to raise an additional $25 billion through a combination of stock and debt sales. The $10 billion loan would be included in the…

In today’s competitive landscape, attracting and retaining top talent is vital for the growth and success of any business. As organizations increasingly rely on human capital to fuel innovation and profitability, Chief Financial Officers (CFOs) need to take an active role in shaping recruiting strategies. However, creating an effective recruiting budget can be a complex task, requiring a deep understanding of various factors influencing both immediate and long-term financial outcomes. Here’s what every CFO should know about recruiting budgets. 1. The Strategic Importance of Recruiting Budgets A recruiting budget isn’t just an operational expense—it’s a strategic investment. The effectiveness of…

Cerebras Systems, a leading artificial intelligence chip startup, has officially filed for an initial public offering (IPO) under the ticker symbol “CBRS” on the Nasdaq. The move positions Cerebras to take on industry giant Nvidia, as it aims to capitalize on the rapidly growing demand for AI processing power. Cerebras’ competitive edge lies in its unique WSE-3 chip, which boasts more cores and memory than Nvidia’s widely-used H100 chip. According to the company, the WSE-3 is physically larger and designed to outperform its rivals. In addition to hardware, Cerebras provides cloud-based services powered by its computing clusters, offering a comprehensive…

Meta announced the Quest 3S, its latest virtual reality headset and a more affordable alternative to the Quest 3. Priced at $299, the headset will be available for purchase starting October 15, significantly lower than the Quest 3’s $499 entry point. The Quest 3S is designed for a variety of applications, from watching movies to running VR fitness apps and gaming, as highlighted during Meta’s Connect event in Menlo Park, California. Positioned as a multitasking device, the Quest 3S competes directly with Apple’s $3,499 Vision Pro headset. Meta’s previous Quest models have been popular, with millions shipped, but the company…