What to Make of Elon Musk's Last Day in Washington?
Bloomberg's Wendy Benjaminson discusses Elon Musk departing from his role today in the Trump Administration and weighs in on the impact Musk may still have on the President. She also talks about the latest on President Trump's relationship with China. Wendy speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
2 Top Tech Stocks That Can Double by 2030
Nvidia continues to meet insatiable demand for AI chips in the data center market. Lam Research is seeing its addressable chip market expand as AI-based demand continues to grow. 10 stocks we like better than Nvidia › Investing in innovative technology leaders can help you build wealth over the long term. The tech-centric Nasdaq Composite has doubled in the last five years, and there are still opportunities to buy top tech stocks at attractive valuations relative to their growth prospects. Here are two companies serving the increasing demand for artificial intelligence (AI) chips whose shares could potentially double in value by 2030. Nvidia (NASDAQ: NVDA) is the leading supplier of graphics processing units (GPUs), which are in high demand to power AI workloads in data centers. After the stock dipped earlier this year over concerns about potential softening in data center spending, Nvidia reported another quarter of strong growth that has its stock closing in on new highs. Revenue was reported at $44 billion, up 69% year over year and 12% over the previous quarter. Despite missing out on $2.5 billion in revenue for its H20 chip over new export requirements to China, the company still managed to beat Wall Street's revenue estimate in the quarter. CEO Jensen Huang spoke to how strong the demand for AI is in the earnings report. "Countries around the world are recognizing AI as essential infrastructure -- just like electricity and the internet -- and Nvidia stands at the center of this profound transformation," he said. AI spending is expected to boost the global economy by $20 trillion by 2030, according to IDC. AI is the next industrial revolution, and it spells enormous growth potential for the leading AI chip supplier. Nvidia continues to benefit from growing demand from the leading cloud service providers like Amazon Web Services and Alphabet's Google Cloud. Demand based on cloud applications made up nearly half of the chipmaker's data center sales last quarter, which grew 73% year over year to $39 billion. It is providing AI computing systems for a variety of markets, including autonomous driving and robotics. These are potentially multitrillion-dollar industries that could drive long-term demand for the company's chips. Nvidia faces increasing competition from other technology leaders designing their own custom semiconductors. But these chips are still no comparison for the general-purpose computing power its GPUs provide. The company should continue to see growing revenue this year as it ramps up its Blackwell computing system, which provides a significant boost in performance for AI workloads. Analysts expect earnings to grow 29% on an annualized basis over the next several years. Assuming the stock continues to trade at the same forward price-to-earnings multiple of 33, this would be more than enough earnings growth to double the share price in five years. Another company playing a vital role in meeting increasing demand for chips is Lam Research (NASDAQ: LRCX). Its expertise is in providing etch and deposition equipment, which are essential steps in the chip manufacturing process. The rise in demand has sent the stock up more than 200% in the last five years. Shares are currently trading about 25% off previous highs, which sets up a good buying opportunity. Lam just reported another solid quarter of growth with revenue surging 24% year over year. While there is near-term uncertainty for the semiconductor industry due to the impact of tariffs, Lam's management is very upbeat about its long-term prospects. CEO Tim Archer said, "Lam's portfolio is the most compelling it's ever been, driving opportunities to expand our addressable market, gain share, and deliver innovative services as deposition and etch intensity increases in the production of advanced semiconductors." The semiconductor industry can be cyclical, but it has grown for decades. AI will be a major catalyst over the next decade. As it relates to Lam, wafer equipment spending grew at an annualized rate of 11% from 2013 through 2024, while revenue grew faster at 14%. The company expects to outperform the industry. As semiconductors continue to transition to more sophisticated designs, Lam's focus on etch and deposition, which create the intricate electrical patterns on a wafer, should drive more growth for shareholders. Analysts expect Lam Research to grow earnings at an annualized rate of 15%, yet the stock trades at a reasonable forward earnings multiple of 21. Investors should expect the stock to climb on par with the company's earnings, which are pointing to a double in five years. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. John Ballard has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Lam Research, and Nvidia. The Motley Fool has a disclosure policy. 2 Top Tech Stocks That Can Double by 2030 was originally published by The Motley Fool
Yahoo
40 minutes ago
- Yahoo
Washington Lottery Powerball, Cash Pop results for May 31, 2025
The Washington Lottery offers several draw games for those aiming to win big. Here's a look at May 31, 2025, results for each game: 01-29-37-56-68, Powerball: 13, Power Play: 2 Check Powerball payouts and previous drawings here. 07 Check Cash Pop payouts and previous drawings here. 7-7-4 Check Pick 3 payouts and previous drawings here. 02-04-14-21 Check Match 4 payouts and previous drawings here. 13-22-25-27-32 Check Hit 5 payouts and previous drawings here. 08-09-14-19-21-25-29-32-34-46-47-57-59-60-67-69-73-77-78-80 Check Keno payouts and previous drawings here. 02-08-11-16-31-47 Check Lotto payouts and previous drawings here. 34-44-61-64-68, Powerball: 19 Check Powerball Double Play payouts and previous drawings here. Feeling lucky? Explore the latest lottery news & results All Washington Lottery retailers can redeem prizes up to $600. For prizes over $600, winners have the option to submit their claim by mail or in person at one of Washington Lottery's regional offices. To claim by mail, complete a winner claim form and the information on the back of the ticket, making sure you have signed it, and mail it to: Washington Lottery Headquarters PO Box 43050 Olympia, WA 98504-3050 For in-person claims, visit a Washington Lottery regional office and bring a winning ticket, photo ID, Social Security card and a voided check (optional). Olympia Headquarters Everett Regional Office Federal Way Office Spokane Department of Imagination Vancouver Office Tri-Cities Regional Office For additional instructions or to download the claim form, visit the Washington Lottery prize claim page. Powerball: 7:59 p.m. PT Monday, Wednesday and Saturday. Mega Millions: 8 p.m. PT Tuesday and Friday. Cash Pop: 8 p.m. PT daily. Pick 3: 8 p.m. PT daily. Match 4: 8 p.m. PT daily. Hit 5: 8 p.m. PT daily. Daily Keno: 8 p.m. PT daily. Lotto: 8 p.m. PT Monday, Wednesday, and Saturday. Powerball Double Play: 8:30 p.m. PT Monday, Wednesday and Saturday. This results page was generated automatically using information from TinBu and a template written and reviewed by a Washington editor. You can send feedback using this form. This article originally appeared on Kitsap Sun: Washington Lottery Powerball, Cash Pop results for May 31, 2025
Yahoo
41 minutes ago
- Yahoo
Australia asks China to explain 'extraordinary' military build-up
Australia's defence minister Richard Marles has called on China to explain why it needs to have "such an extraordinary military build-up". He said Beijing needs to provide greater transparency and reassurance as it is the "fundamental issue" for the region. Meanwhile, the Philippines defence minister Gilberto Teodoro Jr has called China "absolutely irresponsible and reckless" in its actions in the South China Sea. The ministers had separately addressed reporters on the sidelines of an Asian defence summit held in Singapore. China has yet to respond to either Marles or Teodoro. Organised by the think tank International Institute for Strategic Studies, the Shangri-la Dialogue has traditionally been anchored by the US and China, which have been jostling for power in the region. This year China has sent a lower-level delegation and scrapped its speech. In the absence of a strong Chinese presence, the dialogue has been dominated by criticism and questions of Beijing posed by the US and its allies. On Sunday morning, Marles asserted that "what we have seen from China is the single biggest increase in military capability and build up in conventional sense, by any country since the end of the Second World War". It is not just the size of the military build-up that concerns other countries, he told reporters. "It's the fact that it is happening without strategic reassurance. It's happening without a clear strategic intent on the part of China… what we want to see is strategic transparency and strategic reassurance be provided by China, and an understanding of why it is needed to have such an extraordinary military build-up." He cited Australia as an example of such transparency, noting that Canberra makes public its national defence strategy and defence reviews, and makes it "utterly clear" that when they build up their defences it is for Australia and Asia's security. "So there is total strategic clarity and assurance that is being provided by Australia to our neighbours, to the region, to the world. That's what we would like to see," he said. China is capable of working with international rules, noted Marles, pointing to a highly-scrutinised Chinese military exercise conducted near Australia and New Zealand's waters in February. While it was "disruptive, and we believe that it could have been done in a better way", he said, "ultimately China was acting in accordance with international law". "The guiding light, the bedrock here, needs to be compliance with international law. That's what we keep talking about, is the rules-based order." Marles was also asked about Hegseth's call for Indo-Pacific partners to increase defence spending as a bulwark against the threat of China. Marles said "we actually are taking steps down this path… we understand it, we're up for it." US President Donald Trump has called on Australia to increase its spending to 3%, but Canberra has yet to publicly commit to that number. Marles added that part of that spending would come under Aukus, the defence pact between Australia, the UK and the US. He said projects under the pact were "on track" and he was "very optimistic" about the progress, including more visits of American nuclear-powered submarines to Australia and submarine rotations through a Perth-based navy base. In a separate interview with the BBC's security correspondent Frank Gardner, the Philippines defence minister Teodoro said China has been "absolutely irresponsible and reckless in appropriating most, if not all, of the South China Sea and in a way the world cannot tolerate". The two countries have repeatedly clashed over competing claims in the South China Sea, and the Philippines has complained of aggressive and violent tactics by the Chinese coast guard. He echoed the call for a preservation of the international order, saying that "the takeaway of a lot of defence ministers is that Europe and the US must continue to lead" on this. "That was the call of the Philippines. That is the call of Lithuania, Latvia, the smaller countries who have a way of life that values freedom and dignity of the human being." "And with a way of life that we don't want the deep state looking over our shoulders or being scared of what we say," he said, referring to China. On Saturday, US Defense Secretary Pete Hegseth had warned of China's "imminent" threat towards Taiwan and accused Beijing of becoming a "hegemonic power" in the region. China has vigorously attacked Hegseth in two separate statements, with the latest posted on its Foreign Ministry website early on Sunday. It said that Hegseth had "vilified China with defamatory allegations, and falsely called China a 'threat'. "No country in the world deserves to be called a hegemonic power other than the US itself, who is also the primary factor undermining the peace and stability in the Asia-Pacific." Earlier in the defence summit, French President Emmanuel Macron had made a pitch for Europe to be a new ally to Asia. China also responded to Macron, who had compared the defence of Taiwan to the defence of Ukraine, and said the comparison was "unacceptable" as the "Taiwan question is entirely China's affair". China claims Taiwan, a self-governing island, as its territory and has not ruled out the use of force to eventually "reunify" with it. Hegseth warns China poses 'imminent' threat to Taiwan and urges Asia to boost defence Macron warns the West could lose credibility over Ukraine and Gaza wars
