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Venture capital is tapping into the artificial intelligence transformation that enterprise software has not been able to deliver. Rather than selling AI tools to companies, startups are acquiring legacy companies outright and rebuilding them from within around AI. This bet will put VCs on the offensive and leave traditional private equity, which spent the last cycle buying enterprise software at the highest prices, on the defensive.In Silicon Valley, this strategy is known as an AI rollup. In the past six months, the company has entered the public market twice. General Catalyst and Trian took Janus Henderson (JHG) private in December…
Today is not the day to bury your head in the sand. After all, the first collaboration between Phoebe Dynevor and Patrick Schwarzenegger, who play January Andrews and Augustus “Gus” Everett in “Beach Read,” arrives nearly two months after news of their casting made headlines. A sneak preview of Emily Henry’s film adaptation has been released in the form of a still from filming in which Schwarzenegger’s Gus gazes lovingly at Dynevor’s January, while she, for her part, stares straight ahead, oblivious to his adoration. This snapshot was shared by writer and director Yulin Kuan, who is helming the book-to-film…
Eli Lilly’s expanding pipeline of obesity drugs gives the stock little reason to take profits at this point, even after hitting record highs. “This is a parabolic spike. I don’t buy parabolic things,” Jim Cramer said Monday on “Squawk on the Street.” “But we can’t sell it. We’re not going to take the profits.” Jim said he’d like to let Lilly rise for now, noting that the club’s shares are up 35% from their year-to-date low in late April and 85% from last August’s 52-week low of nearly $624. Eli Lilly’s stock traded at an all-time high during Monday trading…
Apple’s WWDC 2026 event kicked off this morning at 10am PT at Apple Park, kicking off a week packed with developer events and demos, as well as anticipated announcements about Siri, iOS 27, Apple Intelligence, and more. This year’s event is particularly noteworthy in several ways. This will be CEO Tim Cook’s last stint at the company, after he announced on September 1 that he would be handing over the reins to John Tarnas, senior vice president of hardware engineering. It’s also expected to play host to Apple’s attempt to give Siri and its overall AI efforts a major boost…
Apple delivered what Wall Street expected: a complete overhaul of artificial intelligence, leveraging Google’s Gemini with a new conversational Siri and updating its internal AI efforts. Apple shares were up more than 3% on Monday afternoon, just before the Siri news was announced at the company’s Worldwide Developers Conference (WWDC). We know it’s not all about one-day stock price movements, but the stock was down more than 1% by the end of the event. Buy rumors and sell news? perhaps. Stocks have been soaring heading into WWDC, with Monday’s trading high hitting another intraday high. Whatever the reason, we’ve seen…
Netflix is in the doghouse with some Scooby-Doo fans. The streaming platform released a first look at the live-action remake of the popular cartoon on June 8, but die-hard fans of the series are taking issue with Scooby’s casting. The 21-second clip shared with X begins with Scooby’s POV as he tries to sniff out a suspect in the woods. As eerie music plays, fans catch a glimpse of young Shaggy Rogers (Tanner Hagen) before he scoops up an adorable brown puppy and he lovingly licks it. “Scooby is finally real!!!” Netflix captioned the teaser. “Introducing the best kids in…
Pharmaceutical stocks have recently been decoupled from the broader market, giving the group an increasingly important leadership position in healthcare. Eli Lilly is a leader in this space, already hitting new highs, and its strength is reflected in sector-level proxies like the iShares US Pharmaceuticals ETF (IHE). The positive absolute and relative momentum for the pharmaceutical company creates a favorable environment for other major players, including Johnson & Johnson, to follow suit. IHE is extending its cyclical uptrend towards new highs, a move confirmed by the weekly moving average convergence/divergence (MACD) crossover reflecting new medium-term momentum. Lilly owns roughly 25%…
Historical data shows that large IPOs typically do not lead to bull market peaks in the following year. SpaceX is poised to launch its largest IPO in history when trading begins this Friday. However, recent analysis from Canaccord Genuity shows that the stock market’s broad averages typically tend to outperform large IPOs after a year. “Recent history shows that large IPOs are not a headwind for index performance,” Canaccord analysts said. The investment bank reviewed the historical impact of the world’s largest public offerings since 2008, including the seven IPOs that raised the most capital in the world (Visa, Facebook,…
Amazon on Monday introduced a new feature that allows anyone to design products using AI, posing further challenges to online product platforms such as Redbubble, Bonfire, Spring, and Fourthwall. The company announced that you can now create new products using AI prompts through the shopping app’s Alexa feature. That way, anyone can turn their ideas into designs and feature them on items from apparel to tumblers and more that can be purchased through Amazon’s print-on-demand service, Merch on Demand. Amazon suggests that the service could be useful for printing one-off designs, such as creating T-shirts for family gatherings, some types…
Former FTX CEO Sam Bankman Fried (left) and President Donald J. Trump.Reuters | Getty ImagesSam Bankman Fried has formally submitted a request for presidential pardon to President Donald Trump, according to information posted on the U.S. Department of Justice’s Office of Pardon Counsel website.The co-founder of the now-defunct FTX cryptocurrency exchange is currently serving a 25-year federal prison sentence after being convicted of orchestrating a massive fraud scheme that misappropriated billions of dollars in customer funds at FTX and its affiliated trading company Alameda Research. The exact date of the application is unclear, but according to Justice Department records, the…