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Paolo Confino

Paolo Confino

Fortune

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Silicon Valley billionaire warns ‘absolutely there’s a bubble’ in AI valuations: ‘Nobody would be surprised’ if OpenAI ‘disappeared next Monday’

Longtime tech executive Tom Siebel said the market is "way, way overvaluing" AI companies of all sizes, from startups to the $157 billion OpenAI.

yesterday 20

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Paolo Confino

Nvidia crushes expectations, more than doubling its profit amid a 94% surge in revenue as AI demand booms

Nvidia topped analyst estimates across all metrics on its third quarter earnings call.

yesterday 1

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Goldman Sachs tells investors Trump’s tariffs pose a major ‘event risk’ and to expect growth to slow in 2025

The investment bank forecasts 11% growth in the S&P 500 next year and warns the economy will be pulled in two different directions.

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Exclusive: Manufacturing platform Keychain raises $15 million in Series A funds, including from the maker of iconic breakfast cereals

Keychain is an online platform that connects food and beverage brands to manufacturers.

tuesday 30

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Trump’s pick for FCC chair wants to eliminate the law shielding social media companies from legal consequences for posts on their platforms

Section 230 lets social media companies like Meta, X, and TikTok bear no legal responsibility for content users post on their platforms.

tuesday 6

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Trump Media is near an all-stock deal to buy crypto platform Bakkt, report says

The move would be the first major acquisition on behalf of Trump Media, which already owns the small social media platform Truth Social.

tuesday 8

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Top Trump Media investor cashes out almost all his shares, filings show

ARC's current stake is just 30,147 shares of Trump Media after owning more than 11 million shares in September.

16.11.2024 10

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Cathie Wood says Elon Musk will succeed in his audit of the federal government because he has ‘more proprietary data’ than anyone

Wood said Musk understands the world is at “the threshold of a convergence among many technologies."

15.11.2024 10

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Trump Media has lost almost 50% of its value since a preelection rally sent the stock soaring

Many traders hoped to cash in on a possible Trump win—and once it happened, they sold.

15.11.2024 10

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The dream of mentally responding to text messages and emails without a device faces one very practical hurdle — ‘People like their skulls,’ a neurologist says

Here's what the CEO of a brain-implant company sees as the industry's biggest problem.

14.11.2024 6

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Trump and Musk both own social media platforms. Some think an alliance between X and Truth Social is coming

Although its user base is smaller, Truth Social had a higher valuation than X earlier this year when its stock price shot up.

14.11.2024 10

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DEI efforts are critical to the U.S. economy because ‘there’s not enough white men,’ John Hope Bryant says

The U.S. can’t remain the leading global economy if it doesn’t let its citizens become financially stable.

13.11.2024 20

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Recession could create an ‘abrupt shift’ in AI adoption: ‘That’s when you really see the effects of automation’

During recessions companies lay people off, automate their jobs, and never hire them back.

12.11.2024 5

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Trump could ‘kick off a crypto Golden Age’ by delivering guardrails and regulations the industry has been craving, finance CEO says — ‘there’s so much pent-up demand’

As President-elect Donald Trump fills out his administration, the industry hopes for crypto-friendly appointees.

12.11.2024 7

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Former CIA chief Leon Panetta says Trump’s economic boost contains a hidden $7 trillion threat

The ex-Secretary of Defense said Trump's policies could propel the economy but might send the national debt soaring even higher.

12.11.2024 7

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NBA commissioner says women’s sports is booming because legacy media gatekeepers can’t ignore it anymore

Adam Silver said fans can find women’s sports more easily after decades of it being considered an afterthought by media companies.

12.11.2024 10

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Former Secretary of State Mike Pompeo says Trump won’t let Putin ‘roll through Ukraine’

Pompeo said it was critical the West be seen as having beaten Putin. “I’m very hopeful President Trump will see that imperative.”

11.11.2024 10

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Reclusive billionaire heir Timothy Melon gave $125 million to help elect Trump, even more than Elon Musk donated

A grandson of industrialist baron Andrew Mellon, he once railed against federal entitlements, which he said make Black people “belligerent.”

09.11.2024 10

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Wall Street is foaming at the mouth with all the possible mergers and acquisitions that may now go through with Trump as president

Goldman Sachs expects a 20% increase in M&A activity next year.

07.11.2024 8

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American voters were asked about the economy. The overwhelming answer shows why they picked Trump over Harris

Voters who were concerned about the economy did what they so often do—punish the incumbent party.

06.11.2024 8

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Trump Media stock was halted three times on Election Day after its price dropped 15% in just 15 minutes

The stock has often moved in sync with former President Donald Trump’s political prospects.

06.11.2024 40

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Polymarket users have wagered $3.2 billion on the outcome of the election—and the majority of bets are on Trump winning

The majority of bets went for Trump, with $1.3 billion wagered on the former president and $827 million on Harris.

05.11.2024 3

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Meta’s plans to build a nuclear-powered data center for AI fell through because of rare bees

Meta's plans for a new data center were scuttled by environmental complications.

05.11.2024 10

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Wall Street’s Trump trade unravels after a shock poll dented his election odds

The dollar, Treasury yields, and Bitcoin fell on Monday after a closely watched poll over the weekend showed Harris with a lead in Iowa.

04.11.2024 9

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ChatGPT releases a search engine, an opening salvo in a brewing war with Google for dominance of the AI-powered internet

For decades, Google had an ironclad grip on internet search. Now OpenAI, the startup synonymous with AI, senses an opening.

02.11.2024 30

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Distraught Amazon employees send AWS chief open letter against RTO policy, calling it an ‘outright abdication’ of its role as industry leader

Hundreds of employees criticized Amazon’s leadership for making a gut decision rather than a data-driven one.

31.10.2024 9

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Sam Altman’s decade-old investment in Reddit is now worth over a billion dollars

Altman has known the Reddit founders since they were in the first class at Y Combinator, the famed startup accelerator he would go on to lead.

30.10.2024 6

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Trump Media stock drops the day after trading was halted five times for being too volatile

The stock has had a 270% increase over the last month since from its all-time low.

30.10.2024 4

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Trump Media soars to $10 billion market cap, overtaking the value of X, which has hundreds of millions more users

After surging almost 300% from its all-time low, TMTG’s share price means it’s now one of the most valuable social media companies in America.

29.10.2024 5

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Philadelphia DA sues Elon Musk for $1 million election sweepstakes—’indisputably’ unlawful

The DA’s office questioned whether the winners were even chosen at random.

28.10.2024 5

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Robinhood wants a piece of the prediction markets pie: Users can now bet on who will win the presidential election

In recent weeks, prediction markets have shifted heavily in favor of Donald Trump, while voter polls show him tied with Kamala Harris.

28.10.2024 7

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Trump Media bear says stock ‘goes to zero’ if Trump loses the election—and a $4 billion stake could become worthless

Investors swarmed Trump Media over the last month in the hopes of cashing in on Donald Trump’s election odds, but a bloodbath may be coming.

25.10.2024 10

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Trump Media stock soars nearly 200% as momentum traders ride its coattails to chase major returns

Trump Media stock had its two biggest trading weeks ever, as the stock soared from an all-time low in September.

25.10.2024 8

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Wall Street has already priced in a Trump victory—just look at European stocks and the inflation market

Across Wall Street, investors see a Trump win as increasingly likely. They’re governing their portfolios accordingly.

25.10.2024 10

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How actress Eva Longoria saved ‘John Wick’ with a last minute $6 million investment

As the first installment of the popular franchise was wrapping, it ran into financial problems.

25.10.2024 10

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A network of conservative billionaires donated $140 million to ‘election integrity’ efforts to lay the groundwork for a repeat of 2020

Should Trump lose again, efforts to overturn the election will be much better funded this time around.

24.10.2024 8

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Donald Trump is eking ahead in the polls as the ‘excitement’s over’ for Kamala Harris

After surging in the polls after Harris’s dramatic entry into the race, the election tightens.

22.10.2024 5

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Donald Trump’s policies would drain Social Security’s finances faster, report finds

Under Trump, Social Security’s trust fund would run out three years earlier than currently projected, according to the Committee for a...

21.10.2024 10

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Jensen Huang and Mark Zuckerberg each got $76 billion richer this year—equal to Spotify’s market cap

The increase in their wealth also exceeds the entire market cap of CVS, Target, and Capital One.

21.10.2024 9

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Trump praises Tim Cook, says Apple wouldn’t be as big under Steve Jobs

The former President said he recently spoke to the Apple CEO about the roughly $15 billion in fines the EU issued against the company.

18.10.2024 8

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Microsoft and OpenAI are haggling over the tech giant’s stake in the startup

The two companies each hired a major investment bank to negotiate how big Microsoft’s share in OpenAI will be after its $14 billion investment.

18.10.2024 4

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The company building Trump Media’s tech has historic links to Iran, Russia, and China

Three companies brokered a complex deal to build Donald Trump’s Truth Social. How they’re all involved is a mystery even to them.

18.10.2024 10

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WNBA legend Sue Bird on teamwork: ‘If the country was run the way sports teams are, we’d be in a better place’

During an appearance at Fortune’s Most Powerful Women Summit, Bird reflected on which skills from her playing career served her best in the “real...

16.10.2024 10

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Guild founder Rachel Romer had a stroke at 34. Her nurses inspired her company’s next phase

After spending months in the hospital recovering from a debilitating stroke, Rachel Romer started to think about how she could improve health care...

16.10.2024 10

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AI chatbots need some healthy disagreement to work best together, tech exec says

AI assistants are “too agreeable” and can’t replicate the very human dynamic of a good-natured discussion, Babak Hodjat, chief technology...

15.10.2024 7

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Nobel laureate Geoffrey Hinton is both AI pioneer and frontman of alarm

After making the scientific breakthrough that led to contemporary AI programs, Hinton frets that he “can’t see a path that guarantees safety.”

10.10.2024 5

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“Below Deck” boat captain Sandy Yawn shares the secret to assembling a dream team

The beloved reality television personality says she looks for certain qualities and doesn’t skimp on rewards. “You pay peanuts, you get...

08.10.2024 9

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Enterprise CEO said only 11% of consumers know the company does more than just car rentals

After taking over the family company in 2020, CEO Chrissy Taylor is dead set on expanding the company beyond car rentals.

08.10.2024 8

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First Black president of an MLS team talks sustaining growth amid $775 million valuation and record attendance numbers

Danita Johnson compared the MLS to the WNBA because both leagues are in the midst of a period of massive expansion.

07.10.2024 10

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Google DeepMind exec says AI has increased efficiency so much the company’s legal department uses it for 50% of info requests

Executives are focusing on specific use cases that can be made more efficient by AI.

07.10.2024 10

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