After a big-box retailer failed to pay his construction company, Chris Long was left with land, little cash and two years to make a storage-yard idea work. The Ottawa carpenter opened his first site in 2019 with no tenants and just weeks to fill it before winter.
A networking change requested by Microsoft has delayed commissioning at IREN’s data center project in Childress, Texas, the Nvidia-backed cloud provider said Thursday. The company now expects to reach $4 billion in annual recurring revenue from operations in January or February, instead of its earlier year-end target.
Goldman Sachs promoted 109 executives to partner, its largest class since 2010, with new appointments taking effect in January. The group is 15% larger than the 95 executives promoted in 2024 and reflects a growing emphasis on engineering and technology, the bank said.
After losing 5.9% in October, Walleye Capital is restructuring its internal stock-picking operation, parting ways with equity long-short head Anil Gondi and what CEO Will England called a “substantial portion” of the investment teams.
At SALT London on Wednesday, investors’ conversations ranged from whether the AI boom is nearing a bust to whether the technology will create jobs as well as displace them. Speakers also weighed in on Elon Musk’s ambitions, cybersecurity and the infrastructure required to support AI.
After a sweeping Democratic victory on Tuesday, venture capitalists who publicly backed MAGA faced questions about the political wager and its costs for the tech industry. Reid Hoffman said voters’ rejection of the status quo should prompt VCs to reconsider how Americans are experiencing the economy.
Elon Musk’s fortune fell by $33 billion on Wednesday after Tesla and SpaceX shares dropped, but he remained $490 billion wealthier than the next person on Bloomberg’s ranking. At the close, the billionaire’s net worth stood at $865 billion, compared with Jeff Bezos’ $375 billion.
Social Security’s reserves are projected to run out by 2032, potentially cutting benefits by about 22% just as the incoming Senate begins its six-year terms. The 35 senators elected Tuesday will face pressure to address the funding gap, which could mean nearly $17,000 less annual income for a recently retired dual-income couple starting in 2033.
California voters are heading to the polls today to decide the fate of Proposition 40, a contentious ballot measure that would impose a 5% tax on assets held by the state’s wealthiest residents. The result of this vote threatens to reshape the financial landscape for Silicon Valley’s elite.
Ken Griffin’s $77 billion Citadel hedge fund posted a 1.7% gain in October, defying a turbulent month that saw the S&P 500 slide nearly 1%. While peers struggled to navigate shifting tech valuations and geopolitical volatility, the Miami-based firm pushed its year-to-date returns to 15.3%.
Can we really fool ourselves into thinking we know what a company like Anthropic will do five years from now? Howard Marks, co-founder of Oaktree Capital Management, believes the rapid, unpredictable nature of artificial intelligence makes traditional earnings-based valuation models nearly impossible to apply to the sector’s high-flying newcomers.
Amid an unprecedented surge in artificial intelligence infrastructure spending and shifting geopolitical tides, a new generation of financiers is rewriting the industry’s playbook. Business Insider’s 10th annual class of Rising Stars highlights 25 professionals under 35 who are orchestrating the most consequential deals in modern global markets.
With the oldest members of Generation X entering their 60s, only 18% of the cohort express confidence in achieving a comfortable retirement. A widening gulf between current savings and projected needs, compounded by late-career job instability and caregiving responsibilities, has forced many to abandon traditional exit timelines.
When Johnston Osagie learned he was going to be a father at 31, the prospect of spending another decade chasing a corporate paycheck lost its luster. Having hit a $350,000 savings goal, the former Amazon finance manager walked away from his career to trade Tennessee life for full-time parenthood in Cuenca.
A massive $6.3 billion security breach at Binance has triggered market instability and a high-profile digital clash between the exchange’s cofounder, Changpeng Zhao, and Elon Musk. As Binance struggles to contain the fallout from the sophisticated hack, the exchange executive’s plea for decorum was met with further mockery from the billionaire.
“Bill, I haven't had water in 48 years,” Warren Buffett once told hedge fund manager Bill Ackman. The revelation came during a dinner at Ackman’s home, where the billionaire investor politely declined a glass of water in favor of his signature Cherry Coke, a beverage preference he has maintained for half a century.
After a long period of riding high-flying tech stocks, hedge fund managers are abandoning broad macro bets in favor of granular, fundamental research. With the momentum trade cooling, firms are increasingly turning to short-selling and niche industry analysis to protect capital and justify their fees in a volatile market.
When John Santora took the helm of WeWork in 2024, he inherited a company reeling from a disastrous bankruptcy and a reputation for chaotic leadership. Trading the Silicon Valley visionary persona for a disciplined, suit-and-tie approach, the former Cushman & Wakefield executive began his tenure by banning slippers and pajamas in the office.
After dominating Latin American finance, Nubank is betting that its credit-first strategy can crack the notoriously difficult US banking sector. Co-founder and CEO Cristina Junqueira confirmed the firm has opened a US branch, aiming to replicate the success of its low-cost, digital-only model despite a history of foreign failures.
The world’s wealthiest individual, Elon Musk, is urging followers to abandon traditional long-term financial planning. Dismissing the utility of a retirement nest egg, the Tesla and SpaceX CEO argues that rapid breakthroughs in artificial intelligence and robotics will soon render conventional currency and scarcity obsolete.
Two prominent investors, Thomas Stephens and Kevin Cottrell, have departed Corbets Capital, the $37 billion hedge fund’s internal stock-picking unit. Their exit marks a significant leadership shift at the firm, which has seen its overall performance stagnate with gains of less than 1% through the first three quarters of this year.
Barely weeks after securing a $48 billion valuation, San Francisco-based Cognition is already fielding offers that could push its market worth to $80 billion. The startup, which gained prominence for its AI software engineering agent Devin, is currently weighing a new capital injection before the calendar year concludes.
Citadel, Bridgewater, and Man Group are integrating autonomous AI agents into their workflows to automate research and grunt work, yet leadership remains wary of total automation. Executives warn that ceding control to machines creates security vulnerabilities and threatens the fundamental human judgment that drives market success.
Anthropic is actively diluting its reliance on Nvidia by managing its AI operations as a fungible pool across four distinct hardware families. According to the company’s recent S-1 filing, this architectural flexibility—spanning Amazon Trainium, Google TPUs, and AMD GPUs—signals a shift that could eventually undercut Nvidia’s pricing power.
Michael Burry, the investor famously depicted in "The Big Short," remains unimpressed by Anthropic’s path to the public markets. After reviewing the startup's S-1 filing, Burry dismissed the prospectus as insufficient to address the shifting landscape of artificial intelligence, citing cooling growth and structural risks within the sector.
Artificial intelligence is erasing the traditional red flags of fraud, making scams against older Americans more dangerous and harder to detect. As cybercriminals leverage deepfakes and automated voice cloning to exploit human emotions, experts are shifting their focus from spotting typos to implementing systemic defensive habits for families.
The federal government secured $627 million last October by selling Anthropic shares seized from former FTX executives Caroline Ellison and Nishad Singh. While the windfall provided a significant recovery, the rapid valuation of the AI firm suggests the government liquidated an asset that would be worth nearly $4 billion today.
When Anthropic filed its S-1, one name appeared with striking frequency: Spark Capital. With over 50 mentions in the document, the firm’s heavy footprint reflects a calculated, early-stage conviction that transformed its market standing and positioned its partner, Yasmin Razavi, at the center of a potential IPO windfall.
When Brian Rooney lost his wife to cancer in 2013, he expected to mourn, but he never anticipated the total collapse of his livelihood. While he focused on his wife’s treatment and the care of their five children, his email-marketing company stalled, leading to years of compounding debt and eventual bankruptcy.
While the current AI surge mirrors the infrastructure buildout of the dot-com era, Paul Wick of Seligman Investments argues that parallels to a catastrophic market crash are exaggerated. He points to robust enterprise spending and a lack of speculative IPO frenzy as evidence that the sector remains fundamentally healthier today.
