To The Moon

Several wealthy hedge fund managers sold shares of Nvidia during the fourth quarter, while purchasing shares of red-hot Palantir and Amazon.

LONDON, May 1 - Bitcoin fell for a third day on Wednesday, having posted its worst monthly performance in April since late 2022, ahead of an interest rate decision by the Federal Reserve later and key U.S. labour market data.The value of the world's most traded cryptocurrency fell by nearly 16% in April, as investors booked profits on a sizzling rally that has taken the price to record highs above $70,000.Bitcoin was last down nearly 5% at $56,993, its lowest since late February, while losses i

Changpeng Zhao's lawyers had requested that he be sentenced to probation with no jail time. Binance founder and ex-CEO Changpeng Zhao was sentenced to four months in federal prison Tuesday for violations of anti-money-laundering laws during his time running the world's largest cryptocurrency exchange.U.S. Judge Richard Jones was skeptical of the government's request that Zhao, also known as CZ, be sentenced to three years in prison despite federal sentencing guidelines suggesting an 18-month sentence due to his cooperation with the investigation and his status as a first-time offender.Jones said during the sentencing hearing that he believed that Zhao had accepted responsibility for his actions and pointed to the more than 160 letters of support written by Zhao's family, friends and business associates as evidence of his good character.Zhao's lawyers requested that he be sentenced to probation with no jail time, arguing that "he has already shown remorse for his offense and, more impor

An ancient Chinese proverb that counsels "do nothing, and everything will be done" could sum up the Federal Reserve's latest approach to interest-rate policy.Fed officials will hold their benchmark federal-funds rate steady at its highest level in more than two decades, around 5.3%, at their two-day policy meeting that begins Tuesday.Firmer-than-anticipated inflation in the first three months of the year has likely postponed rate cuts for the foreseeable future. As a result, officials are likely to emphasize that they are prepared to hold rates steady, at a level most of them expect will provide meaningful restraint to economic activity, for longer than they previously anticipated.The Fed's rate outlook hinges on its inflation forecast, and the most recent data raises two possibilities. One is that the Fed's expectation that inflation continues to move lower but in an uneven and "bumpy" fashion is still intact -- but with bigger bumps. In such a scenario, a delayed and slower pace of r

Nvidia was edging lower early Tuesday. The chip maker's new Blackwell hardware likely will hit the market late this year and provide a catalyst for the stock, according to analysts at UBS.Nvidia has erased losses from earlier this month when its shares dropped below $800. However, it remains short of its highs of about $950 as it prepares to launch its new range of Blackwell chips.Compared with Nvidia's existing Hopper chips, Blackwell can train an AI model with one quarter as many graphics-processing units and almost as significant a reduction in power consumption, said CEO Jensen Huang.UBS analyst Timothy Arcuri wrote in a research note Monday that the Blackwell chips could start shipping in December."Blackwell shipments are commencing a little later than our original October assumption with test timelines suggesting late November or December as more likely," Arcuri wrote.That means Nvidia could have a patch of slower growth in the October quarter but that's not a reason to worry abo

Tesla shares dipped 1% in premarket after soaring over 15% on Monday.Elon Musk is thinning Tesla's senior management and laying off hundreds more employees, frustrated by falling sales and the pace of layoffs so far, The Information reported early Tuesday, citing an email sent by the CEO to senior executives.Rebecca Tinucci, senior director of the electric vehicle maker's Supercharger business, and Daniel Ho, head of new products, will leave on Tuesday morning, The Information reported.In the em

Shareholders and onlookers agree: Without Charlie Munger, the Berkshire Hathaway annual meeting on Saturday won't be the same.For decades, attendees of the yearly gathering in Omaha, Neb., relished listening as Warren Buffett and Munger, his longtime friend and partner, spoke for hours about investing, business and life. Munger was 99 when he took the stage for his final annual meeting last May. He died in November, just shy of his 100th birthday.Buffett is the company's chief executive and the more famous investor, but Munger held a special place in the hearts of Berkshire fans. They heard wisdom in his thoughts on everything from the commercial to the personal. They loved that he was unafraid to speak his mind. And his sense of humor, sometimes biting, made them laugh.The pairing of Buffett's lengthier and more diplomatic remarks with Munger's acerbic one-liners, along with the clear camaraderie between the two men, could make their appearances feel like episodes in a great buddy com

Tesla is betting its future on autonomy.

Dividends are a sign of maturing companies, but may also be a diversion for investors amid hefty capital spending. Alphabet Inc.'s surprise issuance of its first dividend is now putting the pressure on Amazon.com Inc. to follow suit, as it is now the last of the Big Tech companies that does not pay its shareholders a dividend.Wall Street, of course, was pleased by the news late Thursday, which was buried on the second page of Alphabet's first-quarter earnings, which were also better than expected. Alphabet said it will begin paying a 20 cents-a-share dividend starting in June.Alphabet is following the example set by Meta Platforms Inc. , which stunned Wall Street in February in its fourth-quarter earnings when it said it would begin paying a dividend. Many investors started to wonder if Alphabet or Amazon would be next among the Big Tech giants to follow their lead.In after-hours trading, Alphabet shares soared about 12%, a gain of roughly $237 billion in market cap. If those gains h