Justin Tallis | Afp | Getty Images Bitcoin dropped on Wednesday to its lowest level since October 2024 amid a pullback in tech stocks, as the crypto bear market drags on. The price of bitcoin slid more than 4% to $59,548.19. Earlier, it hit a low of $59,023.98, its lowest level since Oct. 10, 2024….
Cerebras Systems CEO Andrew Feldman said Wednesday that investors “misunderstood” the artificial intelligence chipmaker’s margin guidance, as shares slid 17% after the company reported results for the first time since going public. Analysts at Mizuho and Wedbush raised their estimates following Cerebras’ earnings call. But the company forecast a narrower gross margin in its core…
At least 20 oil tankers stranded in the Persian Gulf with 35 million barrels have exited the Strait of Hormuz since the U.S. and Iran agreed to open the sea lane, according to data provided by Kpler, a firm that tracks global trade flows. The tankers, which were not Iranian in origin, had been stuck…
LOS ANGELES — Electric vehicle startup Slate Auto expects to defy challenging market conditions and avoid the losses its peers have seen by profitably selling a highly customizable EV that starts at just under $25,000. Slate CEO Peter Faricy said every vehicle produced by the Michigan-based EV startup — which is backed by Amazon founder…
Zoox introduced the “next evolution” of its toaster-shaped robotaxi. Zoox Amazon‘s Zoox unveiled the “next evolution” of its toaster-shaped self-driving vehicle on Wednesday, adding more rider-friendly features ahead of a wider U.S. rollout this year. The company said it’s equipping the vehicles with higher-quality touchscreens, more comfortable seats and headrests, and small interior tweaks that…
The Treasury Department will oversee Iranian funds when they are released under President Donald Trump‘s interim Iran agreement, Treasury Secretary Scott Bessent said Wednesday on CNBC’s “Squawk Box.” “A very large percentage of it will go to buy U.S. foodstuffs and medicines,” Bessent said, repeating what the president had said about how the unfrozen funds…
Jakub Porzycki | Nurphoto | Getty Images OpenAI and Broadcom on Wednesday unveiled their debut custom chip, called Jalapeño, marking the ChatGPT maker’s first entry into artificial intelligence silicon. The chips will be made by Broadcom and used by OpenAI for inference, the compute-intensive process of serving its AI models to users in ChatGPT and…
Treasury Secretary Scott Bessent expressed confidence Wednesday that the U.S. economy can get back on the path to 3% growth as the Iran war nears conclusion. “We can have something with a three in front of it this year,” Bessent said in a live interview on CNBC’s “Squawk Box.” “The underlying economy has been strong.”…
A tourist protects herself from the sun under an umbrella in front of the Louvre Pyramid, designed by Chinese-US architect Ieoh Ming Pei in Paris on June 23, 2026, as France experiences a heatwave. Dimitar Dilkoff | Afp | Getty Images A record-breaking European heat wave has caused a major power outage in France, as…
Russian President Vladimir Putin attends a wreath-laying ceremony marking the 85th anniversary of the Nazi Germany invasion into the Soviet Union in World War II on the Remembrance and Sorrow Day at the Tomb of the Unknown Soldier by the Kremlin wall in Moscow on June 22, 2026. Pavel Bednyakov | Afp | Getty Images…
