Latest news with #TheStreet
Miami Herald
an hour ago
- Business
- Miami Herald
Nvidia CEO hits Warren Buffett milestone
For decades, Warren Buffett has been a beacon for disciplined wealth-building. These days, though, a different kind of empire is flipping the script, and one that's built not on insurance or burgers, but silicon chips and code. Don't miss the move: Subscribe to TheStreet's free daily newsletter Nvidia's (NVDA) AI-powered ascent has pushed the business into record territory, positioning it as the world's most valuable tech giant. Its chips power everything from ChatGPT to robotaxis. However, beyond Nvidia stock's staggering ascent, another quiet story is unfolding - one that involves a black leather jacket, a data center, and a fortune that's suddenly worth watching. Image source: Chesnot/Getty Images It never ceases to amaze me how quickly Nvidia's value has jumped since the AI boom kicked into high gear. Just a couple of years ago, Nvidia skyrocketed past the $1 trillion mark, and by mid-2024, it had already crossed $3 trillion. Then, on July 9, 2025, it briefly became the first company to touch the $4 trillion market cap, underscoring its mission-critical role in powering the AI boom. Related: Veteran analyst drops new clue on Nvidia's next big move That meteoric rise has everything to do with Nvidia CEO Jensen Huang's dynamic leadership. He spotted early on that its powerful GPUs, thought of mostly as gaming hardware, would be ideal for training and running AI models. In no time, Nvidia pivoted to becoming the go-to supplier for data centers, powering everything from generative AI to autonomous vehicles. The tech behemoth built its empire with CUDA brains, blazing H100 and H200 chips, and a cloud crew featuring Amazon, Microsoft, and Google. Its GPUs are the brains behind today's AI boom, running in massive data centers owned by the biggest tech heavyweights. More Tech Stock News: Wall Street pro drops bold price target on Circle stockBank of America drops shocking call on Super Micro stockCathie Wood drops bold message on Apple, Tesla stock Naturally, Nvidia's AI-fueled rocket ride has led to a windfall in sales. Analysts now expect full-year earnings to top $100 billion this year, a far cry from just $4.37 billion in 2023. So hitting $4 trillion isn't just a vanity milestone. It's a statement on how Nvidia's chips have become the key engine that's powering the AI era, and how a bet on the future of computing could redefine its long-term growth runway. Jensen Huang isn't just writing new chapters in Nvidia's AI growth story; he's crafting a personal one, too. He's not from Wall Street and doesn't run a bank. And he didn't make his fortune the Buffett way. Yet Jensen Huang has quietly stepped into a rare position. On Friday, Huang's net worth catapulted to an eye-popping $143.7 billion, according to Fortune, pushing him ahead of the Oracle of Omaha, who sits at $142.1 billion. Bloomberg's Billionaires Index shows a close race, with Huang at $143 billion and Buffett slightly ahead at $144 billion. Huang's explosive rise with Nvidia has been impossible to ignore, with his fortune ballooning by $29 billion this year alone. Related: Veteran analyst drops massive call on AMD stock With that kind of windfall, it's no surprise Huang is diversifying. From July 8 to July 10, he sold about $36.4 million worth of stock. That comes just after another $35.55 million sale earlier in the week. It's important to note that these moves are part of a prearranged plan announced in March to sell up to 6 million shares by the close of the year. In a similar move last year, Huang sold $700 million worth of stock. He's not the only insider taking profits. Longtime board member Brooke Seawell sold off $24 million in Nvidia shares around the same time. However, despite these insider sales, Nvidia shares have held up remarkably well. As mentioned earlier, the company recently surpassed a $4 trillion market cap, leapfrogging Microsoft and Apple. Also, it's important to note that Huang remains all-in, holding over 858 million shares through direct stakes, trusts, and partnerships. Related: Wall Street giant shares bold message on S&P 500's Magnificent 7 The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
an hour ago
- Business
- Yahoo
Live: Bitcoin breaks new all-time highs daily
Live: Bitcoin breaks new all-time highs daily originally appeared on TheStreet. Bitcoin has officially entered uncharted territory. Over the past week, BTC has exploded from just over $107,000 to more than $123,000, smashing its previous all-time high and dragging the entire crypto market into what traders are now calling "crisis mode." The sudden move higher, fueled by macro uncertainty, surging U.S. debt, and a tumbling dollar, has reignited retail FOMO and institutional positioning alike. After more than two months of sideways price action, Bitcoin's breakout has been swift and decisive. Analysts are now eyeing $135,000 and even $145,000 as potential short-term targets. U.S. President has threatened to impose "very severe tariffs" of up to 100% on Russia if there is no peace deal within 50 days. Bitcoin immediately tumbled to $120,143.53 following the has retreated 1.85% from its record high that it reached earlier and was trading at $121,156.15 at press time. As per Coinglass, a little more than $3 million in short BTC positions have been liquidated within the last 4 hours. Bitcoin just surged past $123,091.61 according to Kraken's price feeds, officially setting a new all-time high. Momentum is red-hot, with traders eyeing $125,000 relentless rally shows no signs of fatigue, surging past $122K as momentum accelerates. According to QCP analysts, the market may have underestimated the strength of this move — driven by a technical breakout and a sharp rise in institutional demand. The Crypto Fear & Greed Index jumped from 40 to 70 in just three weeks, flipping sentiment decisively into 'Greed.' Meanwhile, spot BTC ETFs saw over $2 billion in net inflows last week, confirming the trend of institutional buy-in. On the derivatives side, leveraged long positioning continues to build. Perpetual funding rates are nearing 30%, and open interest (OI) has surged past $43 billion, levels last seen during BTC's push through $100K in January. Live: Bitcoin breaks new all-time highs daily first appeared on TheStreet on Jul 14, 2025 This story was originally reported by TheStreet on Jul 14, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
2 hours ago
- Entertainment
- Miami Herald
New lawsuit makes disturbing claims about kids and Fortnite
When I wrote in one of my previous articles that I don't allow my children to play video games, some readers were so caught up in that sentence that they didn't even read the entire article. It looks like I touched the nerve, which was not my intention. I guess my friend was right to say, "You are so brave to open up with that. People are not going to understand what you are saying, and some of them will think you are from the Stone Age." Don't miss the move: Subscribe to TheStreet's free daily newsletter We are all different, but one thing is true - the majority of parents are really doing all they can to do the right thing by their children. Since we are different people, brought up by different parents, with various habits, opinions, and characters, it is expected that we all will raise our children in a different way, but with the same intention - to help them grow up to be good people. So yes, my children don't play video games, and not only are they too small for that, but they are not asking for it. Their lives are filled with so many other wonders, such as hiking, camping, kayaking, bicycle riding, reading, painting, and more, that they don't have time or any reason to be angry about not playing video games. At least for now. I am not all against technology; on the contrary, I consider it very useful when used appropriately, and I try to teach my kids the same. Sometimes, video games can get out of control, and now, a group of parents is raising serious questions about one highly popular game: Fortnite. With around 650 million registered players and 110 million active monthly players, Fortnite is a wildly popular game. It is relatively new, having been released in 2017. Developed by Epic Games, Fortnite provides players with a virtual world where they can compete against each other. Related: Parents should be more worried about Mattel's Barbie than ever There are many game modes, but in most of them, the goal is the same - eliminate the competition and remain the last one still standing. While the game is free to download and play without any limitations, players can make in-game purchases. That is how Epic Games makes billions of dollars in revenue each year. Players are buying V-Bucks, the in-game currency, which they can use to buy customizations and other features. The game operates on a seasonal model, with each season lasting 10 weeks. With meticulously crafted rewards and incentives, this seasonal approach ensures that the experience is consistently fresh and engaging. Then there's a system of daily challenges that motivates players to play every day, a feature called Battle Royale that can't be paused without losing the game, plus continual upgrades of the in-game map and specific games. More on video games: Xbox takes page from Nintendo playbook in a move gamers will lovePopular pizza dining chain expands into adult arcade businessCan Nintendo Snap 'Hit-and-Miss' Console Track Record With Switch 2? Considering all this, it appears that the game can be very addictive, which is the claim some parents are making in a lawsuit, reports Top Class Actions. It is not commonly known that video game addiction is recognized as a mental health disorder, comparable to gambling addiction, writes Lawsuit Update Center. The World Health Organization included gaming disorder in the 11th revision of the International Classification of Diseases and the American Psychiatric Association describes it in its Diagnostic and Statistical Manual of Mental Disorders (DSM-5-TR), which recommends the condition for further research. According to the American Medical Association (AMA), symptoms that show video game addiction or gaming disorder include obsession, withdrawal symptoms when not playing, tolerance, difficulty stopping game play, neglect of other activities, gaming despite negative consequences, deception, and risk ignorance. Lawsuits are being filed across the U.S. by families who feel harmed by video game addiction, particularly related to games like Fortnite. The plaintiffs seek financial compensation for the damages. Usually, these cases are classified as product liability lawsuits involving three major claims: Failure to warnDesign defectManufacturing defect The Fortnite lawsuits mainly focus on the first two claims, arguing that Epic Games negligently failed to warn consumers about the addictive potential of the game. The design defect part of the lawsuits argues that the game was defectively designed with the intent to make it addictive. Epic Games is not the only game maker targeted in a series of lawsuits. One lawsuit filed on May 27, 2025, goes after both Microsoft and Epic Games, with plaintiffs seeking relief against the alleged damage caused to minor users, such as psychological distress, medical expenses related to addiction problems, and more. Lawsuits started mainly last year, and while the majority seem to be ongoing, a few have been dropped. Some people comment on forums that this problem stems from bad parenting. Are they right, or is there a case against these game makers? Perhaps time will tell. Meanwhile, those who have experienced similar harm can check whether their case qualifies for a lawsuit on TopClassAction, Lawsuit Information Center, TorHoerman Law, and many more legal websites. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
2 hours ago
- Business
- Miami Herald
Crumbl makes massive move into popular beverages
While it may seem as if Crumbl's popularity roared out of nowhere right after the pandemic, there's a bit more to the story. Back in 2017, cousins and founders Sawyer Hemsley and Jason McGowan set out on a quest to create the perfect chocolate chip cookie, relying on A/B testing methods and streetside taste tests to nail the flavor they were looking for. Don't miss the move: Subscribe to TheStreet's free daily newsletter They opened their first store in Logan, Utah, using $68,000 of McGowan's personal savings as seed capital. They were only able to afford to launch the menu with a single cookie, so they ran a Twitter poll asking people what they wanted, and the Milk Chocolate Cookie was the winner. In 2018 the iconic pink box launched, and Crumbl caught fire on social media because of it. By August 2020, Crumbl had leaned into franchising and had 100 locations across multiple states. Related: Crumbl announces its newest celebrity collaboration cookie While some of the explosive hype has died down today, Crumbl continues to run a successful business. After a sales dip in 2023, the company rebounded in 2024, with 858 locations reporting average sales of $1.35 million. Like any other company, Crumbl must continue to innovate in order to sustain the enormous amount of success it's gained. And to do that, now it plans to move beyond the cookie. Typically, a visit to a Crumbl involves extremely simple decision-making: all the store offers is cookies. That will soon change, according to food blogger Markie Devo, who has a magical knack of sniffing out food industry trends and changes before anyone else. Devo reports that Crumbl is testing a brand new menu item in Canada called Dirty Soda. A total of 39 flavors are being tested, with trendy names like "Slay the Week," "Delulu," and "Pop Off." These names riff on popular slang, meaning that Crumbl is probably hoping to appeal to Gen Z. Related: Starbucks makes a move to battle slowing customer interest Devo says these will hit the U.S. soon, but does not mention a launch date. TheStreet has reached out to Crumbl for confirmation. The Dirty Soda trend originated on TikTok, using soda as a base and "dirtying" it by adding a syrup, cream, or fruit puree. Other fast-food chains such as Taco Bell have added their own take on Dirty Soda to their menus. The new drinks were posted to the Crumbl subreddit on July 13 and quickly drummed up hundreds of comments. Many were negative about the addition of the viral drinks. "I dunno. This feels like a desperate move. Have no interest paying 4.50 or greater for a drink," wrote user cloudy2t. "My guess is that this will probably flop outside of utah. there's no culture for it anywhere else - most people would pick a $6 coffee over a $6 soda," user and Crumbl employee AquaofSpoPon said in the same thread. However, a few voices opted for the opposite opinion. "In MN we've had at least 3-4 different dirty soda chains pop up in the past 6 months. They all look busy. So who knows!" wrote user Fizziac. "I'm not a big sweets person, but I enjoy soda. My wife loves Crumbl. I could see myself getting one of these when she gets her cookies. Probably not every time, but at least sometimes," said user SwiftSurfer365. Related: Cinnamon Toast Crunch introduces a wild new flavor The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
4 hours ago
- Business
- Miami Herald
Stock Market Today: Tariffs weigh on stocks again
Stocks looked to open lower on Monday after President Trump threatened higher tariffs on goods from a host of countries. The new tariffs would take effect Aug. 1 unless Canada (25%), Mexico (30%), the EU (30%) and others can get a deal done. Don't miss the move: Subscribe to TheStreet's free daily newsletter Futures trading in the Standard & Poor's 500, Dow Jones Industrial Average and the tech-heavy Nasdaq-100 Index were all lower by about 0.3%. European stocks were mostly lower, with Germany's Dax Index and France's CAC-40 Index down as much as 0.5%. Related: Where's the inflation? Not in stores - yet Bitcoin topped $120,000 in early trading and briefly reached a record $123,166. Coinbase (COIN) , MicroStrategy (MSTR) , and Robinhood (HOOD) were higher in premarket trading. The 10-year Treasury yield was at 4.438%, up from Friday's 4.412%. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
