QtrendsTrump defended his business dealings and his children in a tell-all CNBC interview, while also facing scrutiny over his billion-dollar crypto profits amidst a broader market downturn. AI computing stocks experienced a brief panic over an unsubstantiated Meta rumor, but analysts dismissed fears of a hardware glut as overblown. Ford's CEO warned of a looming crisis driven by AI and a shortage of skilled trade workers, as regulators warn AI is outpacing existing rules. Taylor Swift's rumored wedding at Madison Square Garden is projected to cost upwards of $20 million, with the couple also donating $26 million to charities ahead of the event.
President Donald Trump gave a wide-ranging interview with CNBC, defending his business dealings and the role of his children in his enterprises. The interview covered five key takeaways, including his stance on trade and economic policy. CNBC also separately featured an interview with Robinhood CEO Vlad Tenev.
Despite giving the crypto industry red-carpet treatment, the broader crypto market is crashing, leaving many retail investors with significant losses. Reports reveal that Trump personally made over $1 billion from crypto ventures last year while most of his coin's investors lost money. The disparity between Trump's windfall and everyday investor losses has drawn sharp scrutiny.
AI computing stocks took a hit on Thursday following a report that Meta Platforms was developing plans for a cloud business, sparking fears of an AI hardware glut. Analysts at SemiAnalysis and others dismissed the panic as erroneous, arguing that Meta's data center and compute procurement will accelerate rather than slow down. UBS called the rotation into AI infrastructure stocks an 'extraordinary' shift that has overtaken hyperscalers.
Ford CEO Jim Farley warned that the United States faces a 'huge crisis' driven by AI and a worsening shortage of workers for skilled trade jobs. European bankers and regulators also cautioned that AI is outpacing the development of regulatory frameworks. Forbes reported that AI has fundamentally rewritten the corporate landscape, reshaping the Global 2000 ranking.
Rumors are swirling about Taylor Swift's potential wedding to Travis Kelce at Madison Square Garden, with estimates placing the cost at over $20 million. The couple has also made headlines for donating $26 million to various charities ahead of the ceremony. A no-gift policy has been reported, sparking discussion about wedding gift etiquette.