UNBELIEVABLE: 36 - The Untold Story

Peter Schiff Says the AI Bubble Has 'a Lot More Air' Left to Come Out Amid SPCX Decline

Economist Peter Schiff has reaffirmed his view that the U.S. stock market is in the midst of an artificial intelligence-induced bubble, as Elon Musk-led Space Exploration Technologies Corp. (NASDAQ:SPCX) continues its downward trend.

Benzinga · Jul 29

KOSPI Sinks Over 12% in Worst Two-Day Drop Ever as AI Chip Sell-Off Deepens After SK Hynix Misses Expectations

South Korea’s benchmark KOSPI index plummeted another nearly 6% on Wednesday, extending a brutal semiconductor sector selloff that was aided by SK Hynix Inc.‘s (NASDAQ:SKHY) profit miss, despite record-breaking second-quarter financial results. The index has slipped over 33% in July and posted the worst two-day fall in history.

Benzinga · Jul 29

Mark Cuban Says Nvidia Is the IPO 'Funding Everyone and Anyone,' but AI Financing Isn't Bulletproof: 'One Breakthrough... Could Crumble It'

Billionaire investor Mark Cuban on Tuesday compared Nvidia Corp.‘s (NASDAQ:NVDA) role in the artificial intelligence boom to the IPO frenzy of the dot-com era, warning that a single breakthrough by a rival chipmaker or a misstep “could crumble” the market.

Benzinga · Jul 29

Betting Against Elon Musk's SpaceX Has Cleared More Than $7 Billion, Says Research Firm

Amidst the AI-induced boom and fears of a bubble, short-sellers identified an opportunity to bet against the rally. However, betting against Elon Musk-led commercial space flight giant Space Exploration Technologies Corp. (NASDAQ:SPCX) has turned out to be particularly profitable.

Benzinga · Jul 29

Mike Johnson’s Defense of Failed Congressional Stock Trading Ban Challenged by Thomas Massie: 'Political Gimmick' With a 'Poison Pill'

Rep. Thomas Massie (R-Ky.) criticized Speaker Mike Johnson’s (R-La.) attack on Democrats over a failed House vote, arguing Republican leadership could have banned congressional stock trading immediately without tying it to a voter ID provision.

Benzinga · Jul 29

Trump Administration Bans New Chinese AI Robots and Power Inverters Over National Security Fears: 'These Devices Could Create Supply Chain Vulnerabilities'

The Federal Communications Commission’s latest restrictions target emerging Chinese technologies that U.S. officials say could threaten America’s AI infrastructure, critical supply chains and cybersecurity.

Benzinga · Jul 29

Trump 'Exploiting' Crypto's Legal Loopholes and Enforcement Weakness, Says Richard Blumenthal: Demands First Family Divest All Digital Assets

Sen. Richard Blumenthal (D-Conn.) on Tuesday accused President Donald Trump of exploiting cryptocurrency regulatory gaps, arguing the Clarity Act in the current form does not do enough to prevent abuses.

Benzinga · Jul 29

Cathie Wood Bets Big on Nvidia Stock: Ark Buys $15.6 Million Worth of Shares as Jim Cramer Calls Chip 'Absurd' — Ark Loads Up on SpaceX, Tesla

On Tuesday, Cathie Wood’s Ark Invest stayed active in a volatile tech tape, adding to several headline growth names while trimming others. The most notable move was another broad push into SpaceX (NASDAQ:SPCX), followed by sizable trades in Tesla Inc. (NASDAQ:TSLA), Nvidia Corp. (NASDAQ:NVDA), Amazon.com Inc. (NASDAQ:AMZN) and Alphabet Inc.…

Benzinga · Jul 29

SK Hynix Stock Dips 2% in Wednesday Premarket After Profit Miss as Jim Cramer Calls the Results Not That 'Bad' (UPDATED)

(Editor’s note: This story and its headline have been updated to reflect SKHY’s premarket move.)

Benzinga · Jul 29

Bitcoin, Ethereum, XRP, Dogecoin Gain Ahead of Fed Rate Cut Decision: Analyst Asks Investors to 'Mark Your Calendar' for Next BTC Bottom

Leading cryptocurrencies rose slightly on Tuesday as investors weighed renewed tensions in the Middle East and the Federal Reserve’s upcoming decision on interest rates.

Benzinga · Jul 29