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The Latest Breaking News from CNBC

Social Security's 2032 Deadline Is Getting Closer—Now One of Its Biggest House Advocates Is Gone

Rep. John Larson (D-Conn.)’s loss in Connecticut’s 1st Congressional District Democratic primary could affect the political debate over Social Security as Congress faces a projected 2032 funding shortfall.

Benzinga

18-year-old American teenager spent $450 on an abandoned storage unit and found paintings worth $36,000; his business has now made over $200,000

An enterprising eighteen-year-old American has turned his love for treasure hunting into a thriving business venture. Operating under the name Mike's Unique Treasures, Michael Haskell purchases abandoned storage units and artfully resells the hidden gems he uncovers. So far, his efforts have yielded over two hundred thousand dollars in revenue,…

The Economic Times

US oil reserves are so low amid Trump’s Iran war the caverns holding them could be damaged

The supply strain comes as drivers face unprecedented late-summer pump prices, with the national average hitting a mid-August record of $4.07 per gallon

The Independent UK

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Sandisk Has Had a Scorching Rally This Year. JPMorgan Thinks It Can Go Much Higher.

The investment bank upgraded Sandisk to overweight from neutral on Friday.

International Business Times

Jeff Bezos Is Now Dabbling In Sports As Part Of a Group With Minority Ownership In a Premier League Giant

FSG consortium will buy a third of Liverpool Football Club.

International Business Times

Uber Is Bringing Thousands Of Chinese Robotaxis To Europe As Its Driverless Push Gets Bigger

The expansion follows the March launch of a commercial robotaxi service in Zagreb involving Uber, Pony.ai and Croatian autonomous-driving company Verne.

International Business Times

Cerebras Stock Sinks 12% on Q2 Revenue Miss. How to Play CBRS Stock After the Plunge.

Cerebras stock fell 12% after Q2 revenue missed estimates, even as the AI chipmaker raised its full-year guidance and reported a smaller loss.

Barchart

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NVIDIA Says ‘Free AI’ Is Great For Chips — Jensen Huang’s Open-Source Bet Could Fuel GPU Demand

NVIDIA Corp. (NASDAQ:NVDA) stock gained about half a percent during Friday’s premarket session as traders lean into a slightly firmer risk tone ahead of the open. Nasdaq futures are up 0.23% while S&P 500 futures have gained 0.08%.

Benzinga

Almost Half Of U.S. Young Adults Have Positive Views Of Democratic Socialists, Poll Shows

Despite the narrow defeat of democratic socialist Francesca Hong in the Wisconsin governor's primary, a new poll shows the leftist movement has strong support among young voters.

International Business Times

Global Chaos Hasn't Stopped Shipping. Executives Are Marveling At The Industry's Resilience.

CEOs from two of the world's largest shipping companies are saying that the industry has shown resilience in the face of challenges such as the Iran war.

International Business Times

Trump-Linked Oil Venture Delays Greenland Drilling Over Government Warning

The setback comes as President Donald Trump renews his push for U.S. control of Greenland and the Arctic territory maintains restrictions on new oil exploration.

International Business Times

Saudi Arabia Scrambles to Avoid Red Sea Attacks. Oil Flows Through Egypt Soar.

Oil exports from Egypt's Mediterranean port of Sidi Kerir have more than doubled in August, reaching about 2.3 million barrels per day compared with roughly 1 million bpd in July.

International Business Times

The AI Buildout Is Fueling The Stock Market. It Could Also Be Contributing To Keeping Inflation Stubborn.

The enormous cost of building the infrastructure needed to power it may be adding to inflation before those promised productivity gains arrive.

International Business Times

AI Agents Are Getting Better at Hacking. Cybersecurity Could Be the Next Spending Boom.

A series of recent incidents has intensified concerns about what happens when autonomous AI systems escape controlled testing environments and gain access to real-world computer networks.

International Business Times

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International Business Times

MySpace Hopes Nostalgia Could Fuel a Comeback. But It Got Burned In Its Last Relaunch.

In a new documentary, the current owners of MySpace say they are planning yet another comeback for the once-dominant social media website.

International Business Times

SpaceX's Stock Keeps Rebounding. Short Sellers Are Now The Ones Under Pressure.

Short interest in SpaceX fell by more than 20% points since its peak as the stock continues to rebound.

International Business Times

Joshua Kushner And Bob Iger Are The New Owners Of The LA Lakers In $12.5 Billion Deal

Bob Iger and Joshua Kushner are the new owners of the LA Lakers in a $12.5 billion valuation.

International Business Times

Norway's Sovereign Wealth Fund Report Stake In SpaceX. Its Stock Rises.

SpaceX shares rose back above the company's IPO price on Wednesday after a tame inflation report and the disclosure from Norway's sovereign fund about a stake in the company.

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International Business Times

A Prolonged Hormuz Closure Could Send Crude to $140 As U.S.-Iran Deal Remains Elusive

Oil prices remain far below the surge above $100 a barrel last month and the peak of more than $110 reached in May, but analysts say the relative calm may become increasingly difficult to sustain.

Latin Times

Zuckerberg Says No Single Company Should Own Superintelligence — Including His Own

Zuckerberg's new essay pledges AI power for everyone, not elites. We fact-checked the claims, numbers and pushback, with sources linked throughout.

International Business Times

Intel Is Increasing The Amount Of Money It's Raising As AI Demand Soars. Its Stock Is Flat.

Intel expects to raise about $19.7 billion after expenses from an upsized stock offering as it increases investment in factories, advanced packaging and other capacity needed for AI chips.

International Business Times

Nvidia Lines Up $500 Billion AI Financing Push As CEO Jensen Huang Says Chips Are Now an 'Investable Asset'

Nvidia has signed memorandums of understanding with Apollo Global Management, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs and KKR to create financing platforms for Nvidia customers.

Barchart

Nvidia AI Chips Are Now an Asset Class. BlackRock CEO Larry Fink Just Compared Them to Mortgage-Backed Securities.

Is Wall Street headed toward another MBS-style financial crisis, this time built on AI chips instead of bundled home loans?

Barchart

Legendary Investor Tom Lee Predicts Record-Breaking August, With S&P 500 to 8,000 by Month's End

Tom Lee's 8,000 target for the S&P 500 just got moved up quite a bit, and recent macro events might just make it happen.

TechRadar

GTA 6 Ultimate Edition is selling more than Standard, says Take-Two CEO, despite the price controversy: 'The most avid consumers are the ones who are pre-ordering now'

According to Take-Two Interactive CEO Strauss Zelnick, the Grand Theft Auto 6 Ultimate Edition is selling more than the Standard Edition.

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