Two former executives at a San Francisco-based financial services company were each sentenced to multiple years in federal prison on Friday.
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Nvidia's sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated during the company's latest quarter, a letdown likely to stoke worries that technology's latest craze has been fool's gold. The results announced Wednesday were hotly anticipated because Nvidia has emerged as a bellwether of a two-year-old AI boom that has been propelling the stock market to new heights while making the Silicon Valley chipmaker the first with a $4 trillion market value. Although Nvidia's second-quarter profit and total revenue were higher than analyst forecast, sales in the company division responsible for its AI chips were slightly below projects. Nvidia's stock slid 2% in extended trading.
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Walmart is showing it can keep pulling in shoppers and outpacing rivals like Target in an uncertain economic environment. and tariff concerns to deliver solid second-quarter financial results Thursday, showing it keeps pulling in shoppers and outpacing peers like Target. The nation's largest retailer delivered solid second-quarter financial results on Thursday. It reported a 4.6% quarterly increase in comparable sales, or those coming from established stores and online channels. Company executives say Walmart is attracting customers with fast deliveries, grocery discounts and trendier clothes. The earnings of the Bentonville, Arkansas, company differed notably from those of Target, which on Wednesday reported another quarter of comparable sales declines.
China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status as the world's second-largest economy. It also wants to challenge the dominance of the U.S. dollar in international trade and finance. Restrictions on access to Chinese financial markets and limits on convertibility of the yuan, or "people's money," are big obstacles blocking its global use. Still, Hong Kong already has stablecoin regulations and some Chinese experts are pushing for regulations to prepare for a possible stablecoin pegged to the yuan. Such moves follow President Donald Trump's signing last month of a law regulating stablecoins.
Tesla gave Elon Musk a stock grant of $29 billion on Monday as a reward for years of "transformative and unprecedented" growth despite a recent foray into right-wing politics that has hurt its sales, profits and its stock price. In giving its billionaire CEO 96 million in restricted shares, the electric car company noted that Musk hasn't been paid in years because his 2018 compensation package has been rejected by a Delaware court. Tesla on Monday called the grant a "first step, good faith" way of retaining Musk and keeping him focused, citing his leadership of SpaceX, xAI and other companies.
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San Mateo County saw the highest first-quarter median home sale prices on record, according to Compass data, reaching $2 million.