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Ferrari unveiled the Ferrari Luce electric car in May 2026 in the emblematic setting of the Vera di Calatrava in the Città dello Sport in Rome. (Ferrari Spa)ferrari spaIn response to the intense backlash following the revelation, ferrari’s The CEO of rival luxury car maker Lamborghini, which developed the first fully electric car, the Luce, said his company made the right decision to cancel its EV plans.Lamborghini CEO Stefan Winkelmann said on Wednesday that the company’s decision to discontinue versions of its all-electric Lanzador and SUV Urus to focus on plug-in hybrid electric vehicles was the “right path” for the…
Database provider ClickHouse’s annual revenue run rate exceeded $250 million, triple its business last year, co-founder and president of products and technology Yury Izrailevsky told TechCrunch. Isralewski expects sales to reach high nine digits by the end of the year. ClickHouse was valued at $15 billion in January following a $400 million Series D funding round led by Dragoneer Investment Group. The latest valuation implies a significant multiple of more than 60 times annual earnings. Izrailevsky (pictured left) said the less-than-five-year-old company could go for an IPO within the next few years due to its rapid revenue growth and premium…
Small cap ETF trader I.W.M. People may be nervous ahead of Thursday’s set of U.S. economic data, including the latest reading of the Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation.It was up 40% in the past year, compared to 27% the year before. S&P500 and 39% Nasdaq-100 – Option traders russell 2000. Put trading activity accounted for more than 70% of all option premiums exchanged on Wednesday, compared to 60% in 2018. QQQ and less than 40% spy.According to ThinkOrSwim data, the trading volume of put contracts is almost three times higher than that…
Cognition, which developed an autonomous AI software engineer named Devin, has raised more than $1 billion at a pre-money valuation of $25 billion ($26 billion post-money valuation), the company announced Wednesday. That’s a big jump from its $10.2 billion post-money valuation when it closed a $400 million funding round just eight months ago in September. The round was led by Lux Capital, General Catalyst, and 8VC, with participation from existing investors Elad Gil, Soma Capital, Omri Casspi, Founders Fund, and many others. New investors also participated in this round, including Ribbit Capital, Atreides, and Layer Global. This is a huge…
CNBC’s Jim Cramer said Wednesday that investors should stop worrying about how much stocks have already gone up and instead focus on how much upside they still have left. “Don’t worry about where the stock price was. Concentrate on where the stock price is going,” the “Mad Money” host said. “That’s becoming my watchword for this exploding market.”His comments come as many of the market’s biggest winners, particularly artificial intelligence and data center stocks, continue to rise after posting strong gains already this year. Cramer said one of the biggest mistakes investors make is assuming a stock is “too expensive”…
Eight staff members at a backpacker hostel in Laos have been detained by local authorities during an investigation into the deaths of six foreign tourists from suspected methanol poisoning, according to Southeast Asian state media. The deaths of two Australian teenagers, a British woman, an American man and two Danish women, as well as reports of other infections, prompted warnings from Western countries last week that consuming alcohol contaminated in Laos could have deadly consequences. The employees of Nana Backpacker Hostel in the northern town of Vang Vieng, all Vietnamese nationals aged between 23 and 44, were arrested by local…
Cynthia Erivo isn’t discouraged by rumors about her friendship with Ariana Grande. The Tony Award winner cleared the air amid speculation that Grande’s “really conscious decision” to start a relationship was just a sham, as she was incredibly close to the “Thank U, Next” singer during the press tour for Wicked in November 2024. “I don’t think people believed that we were actually friends,” Erivo, 39, explained in an interview with Variety on May 27. “But it’s also because people don’t know me very well. If I’m a friend, I’m a friend. If I’m not a friend, I’m not a…
Micron has joined the multi-trillion dollar valuation club, but according to multiple metrics, Micron is the black sheep of it all. While giants like Alphabet, Amazon, Nvidia, Microsoft, and Apple reached the $1 trillion mark with the backing of promoter CEOs and ubiquitous brand recognition, Micron’s rise as a parts maker owes much to its position in the rapidly changing technology supply chain amidst the explosive artificial intelligence boom. Micron isn’t the only company rising. South Korean memory chip makers SK Hynix and Samsung have also recently been valued at trillions of dollars as the overall importance of the sector…
Meta is doubling down on subscription services. On Wednesday, the social networking giant announced it would roll out consumer subscription plans for its flagship apps Instagram, Facebook, and WhatsApp globally and begin testing new subscriptions for businesses, creators, and Meta AI users. Consumers who subscribe to Instagram Plus ($3.99 per month), Facebook Plus ($3.99 per month), or WhatsApp Plus ($2.99 per month) will be able to access additional features such as profile customization, super reactions, and story insights for a few dollars per month. Naomi Gleit, head of product at Meta, said in the announcement that “even more fun features”…
sales force CEO Marc Benioff has laid out a strategy to weather the sharp downturn in stock prices, focusing on delivering strong products to customers and continuing to buy back shares.”We remain focused on the success of our customers,” Benioff said Wednesday on “Mad Money.” “We intend to continue to grow our revenues and provide significant cash flow.”Salesforce stock has struggled this year amid growing concerns that generative AI platforms from companies like Anthropic and OpenAI could disrupt traditional software providers. Despite the better-than-expected earnings, the stock fell another 1.5% in after-hours trading on Wednesday as investors focused on softer-than-expected…