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Yahoo
18 minutes ago
- Yahoo
Jim Cramer Says Don't Quit Market When It's Frothy: 'Is Widespread Irrationality a Reason To Sell Down in Perfectly Rational Stocks? Absolutely Not'
In the face of a frothy market, financial expert Jim Cramer encourages investors to stay the course, highlighting numerous positive stock narratives that counterbalance the market's irrationality. What Happened: Cramer made a case last week, asserting that the current market conditions are far removed from the dotcom bubble burst of the late 90s. He emphasized that despite the froth, today's market is more rational. Cramer drew attention to the irrationality in recent IPOs like Circle, Figma, and Bullish, which have witnessed significant gains since their launch. On CNBC, he also noted Oklo Inc., a firm with ambitions to construct a compact nuclear reactor powered by nuclear waste, whose stock has surged 247% year-to-date. 'Flying cars, supercharged crypto ETFs, secretive companies that consult in magical ways, all irrational. I could go on and on,' Cramer said. 'Is the widespread irrationality a reason to sell down your positions in perfectly rational stocks? Absolutely not.' Also Read: Jim Cramer Has Blunt Message for Fed Chair Powell After July Job Numbers Tanked On the other hand, Cramer pointed to Amazon Inc. (NASDAQ:AMZN) and Eli Lilly and Company (NYSE:LLY) as instances of rationality. Amazon's stock climbed by 3% after the introduction of same-day fresh food delivery in over 1,000 U.S. cities and towns. Eli Lilly's stock also experienced a boost when a team from the pharmaceutical company's management and board of directors purchased stock on the open market. 'Sure, there's froth, but there are also perfectly legitimate moves in the stocks of great companies. I am calling this the year of magical thinking, but the truth is you can't get the runs in the good ones without the runs in the bad ones,' Cramer added. Read Next Short Seller Slams Jim Cramer Over Palantir, Accuses Him Of Hyping 'High-Multiple, Hype-Driven Narrative' Image: Shutterstock/katz Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? (AMZN): Free Stock Analysis Report ELI LILLY (LLY): Free Stock Analysis Report This article Jim Cramer Says Don't Quit Market When It's Frothy: 'Is Widespread Irrationality a Reason To Sell Down in Perfectly Rational Stocks? Absolutely Not' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Gizmodo
3 hours ago
- Gizmodo
Microsoft Probing Whether Israel Used Its Cloud to Build Palestinian Surveillance System
For the past two years, Microsoft has been dogged by accusations—both within and outside the company—that its technology is aiding the Israeli war effort. Microsoft's own employees have protested the firm's contracts with Israel, and protesters have disrupted the company's various talks and conferences. Even the company's 50th anniversary was ruined by shouts from one of its own employees, who reportedly yelled 'Shame on you' while calling the company's head of AI a 'war profiteer' who was 'using AI for genocide.' Now, the company claims it's launched an 'urgent' probe into whether its cloud business is being used by Israel to conduct a massive surveillance operation in Gaza. The company's announcement comes on the heels of a report published by The Guardian, which claims that Unit 8200, Israel's shadowy intelligence agency, had been using Microsoft's Azure cloud servers. The report claimed that, as part of a deal with Microsoft's CEO, Satya Nadella, the spy unit had been granted access to a 'customised and segregated area within Microsoft's Azure cloud platform.' The siloed cloud setup was ultimately used to build a 'sweeping and intrusive system' designed to collect and store 'recordings of millions of mobile phone calls made each day by Palestinians in Gaza and the West Bank,' the report claimed. On Friday, Microsoft told The Guardian: 'Microsoft appreciates that the Guardian's recent report raises additional and precise allegations that merit a full and urgent review.' The review of Microsoft's dealings with Israel will be overseen by attorneys at the law firm Covington & Burling, the outlet wrote. Gizmodo reached out to Microsoft for more information. In a statement previously shared with The Guardian, the company said that, if Israel is 'using Azure for the storage of data files of phone calls obtained through broad or mass surveillance of civilians in Gaza and the West Bank,' it would represent a violation of its terms of service. This is the second legal probe Microsoft has opened into its relationship with the Israeli government. The prior probe took place earlier this year, after its employees' protests. In May, Microsoft released a report in which it claimed to have found 'no evidence to date that Microsoft's Azure and AI technologies have been used to target or harm people in the conflict in Gaza.' Other big tech firms—most notably Amazon and Google—have also been accused of complicity in Israel's military efforts. In July, a U.N. group released a report that claimed that Microsoft, Alphabet, and Amazon grant Israel virtually government-wide access to their cloud and artificial intelligence technologies, enhancing data processing, decision-making, and surveillance and analysis capacities.'
Yahoo
4 hours ago
- Yahoo
SoundHound's millionaire boss founded 3 software startups before even graduating—he tells Gen Z who want to be their own boss ‘throw darts randomly'
SoundHound AI CEO Keyvan Mohajer built his -inspired $6.5 billion company in his Stanford dorm room—but even before then, he already had three software startups under his belt. They weren't all unicorns, but the willingness to pursue big ideas despite the risk of failure is a lesson Gen Z founders can embrace, he tells Fortune. As someone who immigrated from Iran at age 17 knowing little English, becoming a tech entrepreneur one day may have seemed like a far-fetched dream. But Keyvan Mohajer always kept the mindset: You cannot hit big unless you try. And try he did. By the time he walked across the stage at the University of Toronto to receive his bachelor's degree in engineering, Mohajer already had three software companies to his name. Each later became profitable and helped seed the voice-AI project he began in his Stanford dorm room in 2004—which evolved into SoundHound AI. Today, the AI-voice communication company is worth more than $6.5 billion and has landed deals with clients including Nvidia, Snapchat, Mercedes-Benz, and more. For Mohajer, who serves as CEO, failure has only ever served as motivation. And, it's a lesson Gen Z eager to launch side gigs can learn from: The willingness to go out on a limb and build a company from scratch may sound intimidating—but it only takes one good idea to explode into major success. 'Every attempt, you should think of it as this is the one that's going to succeed… Because if you just throw darts randomly at the target, for every attempt, there is the one that's going to get the bullseye,' Mohajer tells Fortune. From dorm room to the boardroom Mohajer grew up always fascinated by two things: movies and robots. So, after first seeing Star Trek, he always dreamed of how to bring computerized voice systems into the real world. But only after meeting his later cofounders, James Hom and Majid Emami, during his Stanford electrical engineering doctoral program did he realize he could be part of the team to make it a reality. Their first product was simple: query by humming. Two weeks prior to Christmas, the team didn't leave their dorm room until they could build a product that could take their database of 20,000 media files and detect what song was being hummed. But by December 24, the code was cracked.'It was on Christmas Eve that I finally hummed this Godfather soundtrack, and it told me, 'You're singing The Godfather,'' he said to the Iranian Students of California's The Tale of a Success series. His pitch to investors became simple: AI-powered voice is the future. 'In 20 years we will talk to computers and they will talk back to us and that will change computing.' And while it took years for SoundHound to get up off the ground, he tells Fortune finding his passion, or what makes his 'heart beat faster,' has been core to his success today. 'You can do things and go through life and get by and check boxes and be average,' he says. 'But I really wanted to be excellent, and I wanted to push boundaries. I want to go to places others haven't gone before, and that gave me the drive to be an entrepreneur and just push the limits and combining the two.' While SoundHound's market performance has had dramatic ebbs and flows, the stock price is up over 200% in the past year. This is thanks in part to a better-than-expected earnings report from earlier this month; the company's revenue is up 217% year-over-year. Its market cap is over $6.5 billion. Founders who got their start in the dorm room At a time when college students are questioning the value of a degree, SoundHound's founding story is another reminder of the innovation that often spurs across college campuses—even if it is just from cofounders meeting for the first time. Companies such as Databricks, a $62 billion data software company, as well as Google, worth over $2.4 trillion, also planted roots in college. Both sets of founders met on Stanford's campus. But there perhaps is no more famous company that spurred from the college experience than Facebook. Mark Zuckerberg met his cofounders, Eduardo Saverin, Dustin Moskovitz, and Chris Hughes at Harvard University and built the foundation of the social platform now known as Meta (now worth nearly $2 trillion). The billionaire returned to his alma mater in 2017 and said he never expected to be such an entrepreneurial success story. 'The thing is, it never even occurred to me that someone might be us,' Zuckerberg said. 'We were just college kids. We didn't know anything about that. There were all these big technology companies with resources. I just assumed one of them would do it.' 'We've all started lifelong friendships here, and some of us even families,' he added. 'That's why I'm so grateful to this place. Thanks, Harvard.' This story was originally featured on
