Stock Market Legacy
Author

admin

Browsing
In Economy

Trump demands resignation of Intel CEO over alleged China ties

No Comments

President Donald Trump on Thursday demanded that the CEO of the tech firm Intel resign immediately, saying he is “highly conflicted” because of alleged ties to China.

“There is no other solution to this problem,” Trump wrote on Truth Social.

Trump’s attack on the Intel chief is his latest attempt to pressure the semiconductor industry, which has fueled the boom in artificial intelligence. On Wednesday, he said he would hit imported computer chips with a 100% tariff unless companies are making them, or plan to make them, in the United States.

The demand also comes after Sen. Tom Cotton wrote to Intel Chairman Frank Yeary to “express concerns about the security and integrity of Intel’s operations and its potential impact on U.S. national security.”

Cotton, a Republican from Arkansas, claims in the letter that Intel’s recently named CEO, Lip-Bu Tan, “reportedly controls dozens of Chinese companies and has a stake in hundreds of Chinese advanced-manufacturing and chip firms. At least eight of these companies reportedly have ties to the Chinese People’s Liberation Army.”

Cotton asked Intel whether it had asked Tan to “divest from his positions in semiconductor firms linked to the Chinese Communist Party or the People’s Liberation Army and any other concerning entities in China that could pose a conflict of interest?”

Cotton also asked the company if it was aware of any subpoenas that Tan’s former firm received and if Tan has disclosed any other ties to China.

Intel has not responded to NBC News’ request for comment on Cotton’s letter and Trump’s social media post.

The senator’s letter cites a recent Reuters story that said Tan “has invested in hundreds of Chinese tech firms, including at least eight with links to the People’s Liberation Army, according to a Reuters review of Chinese and U.S. corporate filings.’

In March, Yeary announced that Tan had been named Intel CEO. Tan started working at the company on March 18. Tan was previously chief executive of Cadence Design Systems, an American chip design company based in California, from 2009 to 2021.

Intel’s rivals such as Taiwan Semiconductor, Samsung, GlobalFoundries and Nvidia have all announced plans to invest billions of dollars in their existing U.S. chipmaking infrastructure or deepen partnerships with U.S. companies like Apple to dodge those long-promised tariffs.

Further management turmoil for Intel likely spells more trouble and delays as it continues to try to play catch up with its competitors. The company’s stock market value, just shy of $90 billion, lags far behind most of its rivals. Its stock dropped more than 2% Thursday, erasing its gains for the year and underperforming the S&P 500’s 9% gain this year.

Intel’s last CEO, Patrick Gelsinger, was forced out at the end of 2024 after the company fell behind Nvidia, AMD and other chip firms in the AI race. That came as Gelsinger sought to transform the long-struggling company by attempting to build major chip factories in the U.S.

But Intel’s debt load and the lead time that other companies already had on Intel were too much for Gelsinger to overcome.

In November, Intel received a nearly $8 billion grant under the Biden administration’s “CHIPS Act” for factory build-outs and to make secure chips for the Defense Department.

But that grant was less than Intel was originally set to receive. It was reduced because U.S. officials worried about Intel’s ability to deliver what was promised, The New York Times reported.

This post appeared first on NBC NEWS

by
Read More
In Investing

Top 9 Global Lithium Stocks of 2025

No Comments

Lithium prices continued their downward trajectory in Q2 2025, with battery-grade lithium carbonate hitting a four-year low of US$8,329 per metric ton in late June.

Lithium hydroxide followed suit, as oversupply and bearish sentiment weighed on the market.

Despite strong electric vehicle (EV) demand, mined supply — driven largely by China, Australia, Argentina and emerging African producers — has outpaced consumption, with Fastmarkets forecasting a 260,000 metric ton surplus for 2025.

“The industry is navigating a period of complexity,” said Paul Lusty, head of battery raw materials at Fastmarkets, speaking at the firm’s June lithium conference.

Still, he emphasized that long-term fundamentals remain “anchored in mega trends,” including the global energy transition, AI expansion and climate change mitigation.

In China, production ramp-ups and new fair competition rules have added volatility, while US policy uncertainty under the Trump administration has dampened investor sentiment. Brief price rebounds in July, spurred by speculation over supply cuts, were short-lived, reflecting the market’s sensitivity to rumors over fundamentals.

Even with near-term headwinds, analysts say the structural case for lithium is solid, offering opportunities for long-term-focused investors.

Against this backdrop, some lithium stocks are seeing share price gains. Below, we profile the lithium stocks in Canada, Australia and the US that have performed the best so far in 2025, updating investors on the lithium companies’ news and activities.

This list of the top-gaining lithium companies is based on year-to-date as per TradingView’s stock screener. Data for Canadian stocks and US stocks was collected on July 22, 2025, and data for Australian stocks was gathered on July 23, 2025. Lithium stocks with market caps above $10 million in their respective currencies were considered.

Top Canadian lithium stocks

1. NOA Lithium Brines (TSXV:NOAL)

Year-to-date gain: 58.82 percent
Market cap: C$488.32 million
Share price: C$0.30

NOA is a lithium exploration and development company with three projects in Argentina’s Lithium Triangle region. The company’s flagship Rio Grande project and prospective Arizaro and Salinas Grandes land packages total more than 140,000 hectares.

As NOA works to advance its flagship asset, the company brought on Hatch in April to lead the preliminary economic assessment (PEA).

The PEA will evaluate the project’s economic and development potential with a target production of 20,000 metric tons of lithium carbonate equivalent (LCE) annually, with a scalable plant design that could double capacity to 40,000 metric tons per year.

NOA has also been working to secure a water source in the arid region through a drilling program targeting fresh water. In late June, the company discovered a fresh water source at the project, located near high-grade lithium zones in the project’s northeast area. According to the company, the location means the water source could support future production facilities or evaporation ponds.

The well, drilled to 190 meters in the northern part of the property, is being tested and developed.

Shares of NOA reached a year-to-date high C$0.425 on July 17, 2025.

2. Wealth Minerals (TSXV:WML)

Year-to-date gain: 40 percent
Market cap: C$23.93 million
Share price: C$0.07

Wealth Minerals is focused on the acquisition and development of lithium projects in Chile, including the Yapuckuta project in Chile’s Salar de Atacama, as well as the Kuska Salar and Pabellón projects near the Salar de Ollagüe.

Wealth Minerals’ shares spiked to a year-to-date high of C$0.095 on February 9, 2025, following the company’s acquisition of the Pabellón project.

According to Wealth, Pabellón has been shortlisted by Chile’s Ministry of Mining as a potential site for a Special Lithium Operation Contract based on its geological and environmental suitability. Located in Northern Chile near the Bolivia border, the project spans 7,600 hectares across 26 exploration licenses about 70 kilometers south of the Salar de Ollagüe.

In May, Wealth formed a joint venture with the Quechua Indigenous Community of Ollagüe to advance the Kuska project. The new entity, Kuska Minerals SpA, is 95 percent owned by Wealth and 5 percent by the community, which also holds anti-dilution rights and a seat on the five-member board.

3. Avalon Advanced Materials (TSX:AVL)

Year-to-date gain: 37.5 percent
Market cap: C$38.26 million
Share price: C$0.055

Avalon Advanced Materials is a Canadian mineral development company focusing on integrating the Ontario lithium supply chain. Avalon is developing the Separation Rapids and Snowbank lithium projects near Kenora, Ontario, and the Lilypad lithium-cesium project near Fort Hope, Ontario.

Separation Rapids and Lilypad are part of a 40/60 joint venture between Avalon and SCR Sibelco, with Sibelco serving as the operator.

Avalon started the year with a revised mineral resource estimate for the Separation Rapids project, which boosted resources in the measured and indicated category by 28 percent.

Company shares rose to C$0.07, a year-to-date high, on July 15, the day after Avalon released its results for its fiscal quarter ended May 31.

A week later, Avalon announced an additional C$1.3 million in funding through its C$15 million convertible security agreement with Lind Global Fund II. The drawdown, expected to close within two weeks, will support project development and general corporate needs, according to the company.

Top US lithium stocks

1. Sociedad Química y Minera (NYSE:SQM)

Year-to-date gain: 10.43 percent
Market cap: US$10.82 billion
Share price: US$40.64

SQM is a major global lithium producer, with operations centered in Chile’s Salar de Atacama. The company extracts lithium from brine and produces lithium carbonate and hydroxide for use in batteries.

SQM is expanding production and holds interests in projects in Australia and China.

Shares of SQM reached a year-to-date high of US$45.61 on March 17, 2025. The spike occurred a few weeks after the company released its 2024 earnings report, which highlighted record sales volumes in the lithium and iodine segments. However, low lithium prices weighed on revenue from the segment, and the company’s reported net profit was pulled down significantly due to a large accounting adjustment related to income tax.

In late April, Chile’s competition watchdog approved the partnership agreement between SQM and state-owned copper giant Codelco aimed at boosting output at the Atacama salt flat. The deal, first announced in 2024, reached another milestone when it secured approval for an additional lithium quota from Chile’s nuclear energy regulator CChEN.

Weak lithium prices continued to weigh on profits, with the company reporting a 4 percent year-over-year decrease in total revenues for Q1 2025.

2. Lithium Americas (NYSE:LAC)

Year-to-date gain: 9.67 percent
Market cap: US$719.1 million
Share price: US$3.29

Lithium Americas is developing its flagship Thacker Pass project in Northern Nevada, US. The project is a joint venture between Lithium Americas at 62 percent and General Motors (NYSE:GM) at 38 percent.

According to the firm, Thacker Pass is the “largest known measured lithium resource and reserve in the world.”

Early in the year, Lithium Americas saw its share rally to a year-to-date high of US$3.49 on January 16, coinciding with a brief rally in lithium carbonate prices.

In March, Lithium Americas secured US$250 million from Orion Resource Partners to advance Phase 1 construction of Thacker Pass. The funding is expected to fully cover development costs through the construction phase. On April 1, the joint venture partners made a final investment decision for the project, with completion targeted for late 2027.

Other notable announcements this year included a new at-the-market equity program, allowing the company to sell up to US$100 million in common shares.

3. Lithium Argentina (NYSE:LAR)

Year-to-date gain: 8.46 percent
Market cap: US$467.28 million
Share price: US$2.90

Lithium Argentina produces lithium carbonate from its Caucharí-Olaroz brine project in Argentina, developed with Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772).

The company is also advancing additional regional lithium assets to support EV and battery demand.

Previously named Lithium Americas (Argentina), the company was spun out from Lithium Americas in October 2023.

While shares of Lithium Argentina spiked in early January to a year-to-date high of US$3.10, the share price has been trending higher since June 19 to its current US$2.90 value.

Notable news from the company this year includes its name and ticker change and corporate migration to Switzerland in late January and the release of the full-year 2024 results in March.

In mid-April, Lithium Argentina executed a letter of intent with Ganfeng Lithium to jointly advance development across the Pozuelos-Pastos Grandes basins in Argentina. The plan includes a project fully owned by Ganfeng as well as two jointly held assets majority-owned by Lithium Argentina.

The company released its Q1 results on May 15, reporting a 15 percent quarter-over-quarter production reduction, which it attributed to planned shutdowns aimed at increasing recoveries and reducing costs.

Overall, the production guidance for 2025 is forecasted at 30,000 to 35,000 metric tons of lithium carbonate, reflecting higher expected production volumes in the second half of the year.

Top Australian lithium stocks

1. Jindalee Lithium (ASX:JLL)

Year-to-date gain: 123.26 percent
Market cap: AU$35.94 million
Share price: AU$0.48

Perth-based Jindalee Lithium is currently focused on its McDermitt lithium project, which it regards as a potential low-cost and long-life lithium source for North America.

On April 22, McDermitt was declared among the US Trump administration’s first 10 resource projects designated as Fast-41 Transparency Projects, which is intended to fast track resource projects important to the US’s critical minerals supply chain. The designation secures publicly accessible permitting timelines and enhances interagency cooperation for the project.

Shares of Jindalee Lithium spiked to a year-to-date high of AU$0.565 April 30, the day after Jindalee released its March 2025 quarterly activities report.

On July 10, Jindalee announced a memorandum of understanding with US-based LiChem Operations, which is developing its lithium refining process for battery grade lithium. Jindalee will initially supply LiChem with 100 kilograms of ore from McDermitt for testwork.

If both companies are satisfied with the result, Jindalee will provide up to 20 metric tons of further ore to LiChem in stages. There is also potential for Jindalee to negotiate for a license to use LiChem’s process in place of the sulfuric acid flowsheet from its prefeasibility study.

2. Liontown Resources (ASX:LTR)

Year-to-date gain: 75.47 percent
Market cap: AU$2.34 billion
Share price: AU$0.93

Liontown Resources has two assets in Western Australia, including the producing Kathleen Valley mine and processing plant. The mine entered open-pit production during the second half of 2024, and the plant reached commercial production in January 2025.

The company is currently transitioning from open-pit to underground mining operations at Kathleen Valley. Underground production stoping kicked off in April of this year, making Kathleen Valley Western Australia’s first underground lithium mine.

Liontown also owns the Buldania lithium project in the Eastern Goldfields province of Western Australia. The project has an initial mineral resource of 15 million metric tons at 1.0 percent lithium oxide.

On June 30, Liontown announced executive leadership changes, appointing Graeme Pettit as interim chief financial officer and Ryan Hair as chief operating officer after CFO Jon Latto and COO Adam Smits decided to step down from the positions.

The company released its fiscal 2025 results on July 29, reporting that Kathleen Valley produced over 300,000 wet metric metric tons of spodumene concentrate during its first 11 months of operations.

Shares of Liontown Resources reached a year-to-date high of AU$1.03 on July 21.

3. Anson Resources (ASX:ASN)

Year-to-date gain: 57.14 percent
Market cap: AU$145.61 million
Share price: AU$0.11

Newport Beach-based Anson Resources is advancing development of its flagship Paradox lithium project and its Green River lithium project, both located the Paradox Basin of Utah, US. It plans to produce lithium from the projects using direct lithium extraction (DLE).

Anson Resources has shared significant developments at Green River this year. According to its March quarterly activities report, the company completed a DLE pilot program with Koch Technology Solutions, producing 43,000 gallons of lithium chloride eluate with an average lithium recovery of 98 percent from brine extracted from Green River’s Bosydaba #1 well.

A June maiden JORC mineral resource for Green River estimated 103,000 metric tons of lithium carbonate equivalent based solely on drilling at the Bosydaba #1 well. The prior month, the company negotiated a lower royalty rate agreement with the Utah government.

On July 1, the company announced it signed a non-binding memorandum of understanding with POSCO Holdings (NYSE:PKX,KRX:005490) to co-develop a DLE demonstration plant at Green River, which POSCO will fully fund.

Anson Resources’ share price spiked in mid-July, ultimately climbing to a year-to-date high of AU$0.11 on July 21, following a pair of announcements.

On July 14, Anson reported it shipped about 2 tons of lithium brine to POSCO in South Korea for test work and due diligence. Two days later, it announced that its polishing system, which is installed at Green River, successfully reduced the minor contaminants from the lithium chloride eluate produced in the KOCH DLE pilot program.

FAQs for investing in lithium

How much lithium is on Earth?

While we don’t know how much total lithium is on Earth, the US Geological Survey estimates that global reserves of lithium stand at 22 billion metric tons. Of that, 9.2 billion MT are located in Chile, and 5.7 billion MT are in Australia.

Where is lithium mined?

Lithium is mined throughout the world, but the two countries that produce the most are Australia and Chile. Australia’s lithium comes from primarily hard-rock deposits, while Chile’s comes from lithium brines. Chile is part of the Lithium Triangle alongside Argentina and Bolivia, although those two countries have a lower annual output.

Rounding out the top five lithium-producing countries behind Australia and Chile are China, Argentina and Brazil.

What is lithium used for?

Lithium has many uses, including the lithium-ion batteries that power electric vehicles, smartphones and other tech, as well as pharmaceuticals, ceramics, grease, lubricants and heat-resistant glass. Still, it is largely the electric vehicle industry that is boosting demand.

How to invest in lithium?

Those looking to get into the lithium market have many options when it comes to how to invest in lithium.

Lithium stocks like those mentioned above could be a good option for investors interested in the space. If you’re looking to diversify instead of focusing on one stock, there is the Global X Lithium & Battery Tech ETF (NYSE:LIT), an exchange-traded fund (ETF) focused on the metal. Experienced investors can also look at lithium futures.

Unlike many commodities, investors cannot physically hold lithium due to its dangerous properties.

How to buy lithium stocks?

Through the use of a broker or an investing service such as an app, investors can purchase lithium stocks and ETFs that match their investing outlook.

Before buying a lithium stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it’s critical to complete due diligence before making any investment decisions.

It’s also important for investors to keep their goals in mind when choosing their investing method. There are many factors to consider when choosing a broker, as well as when looking at investing apps — a few of these include the broker or app’s reputation, their fee structure and investment style.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

by
Read More
In Investing

How to Invest in OpenAI’s ChatGPT

No Comments

OpenAI’s ChatGPT is one of the latest technological breakthroughs in the artificial intelligence space. But what is ChatGPT, and can you invest in OpenAI?

This emerging technology is representative of a niche subsector of the AI industry known as generative AI — systems that can generate text, images or sounds in response to prompts given by users.

Precedence Research expects the global AI market to grow at a compound annual growth rate (CAGR) of 19.2 percent to reach US$3.68 trillion by 2034. Just how much of an impact OpenAI’s ChatGPT will have on this space is hard to predict, but Fortune Business Insights estimates that the total market revenue of generative AI will see a CAGR of 39.6 percent through 2032, increasing from US$67.18 billion last year to US$967.65 billion in 2032.

In September 2024, Reuters reported that OpenAI was planning a restructuring from a non-profit to a for-profit company in order to make it ‘more attractive to investors.’ However, after encountering backlash and potential legal conflicts, in May 2025 OpenAI’s management decided to remain a non-profit while still converting its for-profit arm into a public benefit corporation.

OpenAI completed a new round of funding totaling US$40 billion in late March 2025 projected to bring its valuation to US$300 billion. Japanese multinational investment firm SoftBank made up 75 percent of the funding, while Microsoft (NASDAQ:MSFT), and investment firms Coatue Management, Altimeter Capital and Thrive Capital also took part in the raise.

The US Department of Defense (DoD) awarded a US$200 million contract to OpenAI in June 2025 to provide the DoD with artificial intelligence tools for addressing national security challenges, including cyber defense and warfare.

In this article

    What is OpenAI’s ChatGPT?

    Created by San Francisco-based tech lab OpenAI, ChatGPT is a generative AI software application that uses a machine learning technique called reinforcement learning from human feedback (RLHF) to emulate human-written conversations based on a large range of user prompts. This kind of software is better known as an AI chatbot.

    ChatGPT learns language by training on texts gleaned from across the internet, including online encyclopedias, books, academic journals, news sites and blogs. Based on this training, the AI chatbot generates text by making predictions about which words (or tokens) can be strung together to produce the most suitable response.

    More than a million people engaged with ChatGPT within the first week of its launch for free public testing on November 30, 2022. The introduction of ChatGPT quickly ushered in a new era in the tech industry.

    Based on this success, OpenAI created a more powerful version of the ChatGPT system called GPT-4, which was released in March 2023. This iteration of ChatGPT can accept visual inputs, is much more precise and can display a higher level of expertise in various subjects. Because of this, GPT-4 can describe images in vivid detail and ace standardized tests.

    Unlike its predecessor, GPT-4 doesn’t have any time limits on what information it can access; however, AI researcher and professor Dr. Oren Etzioni has said that the chatbot is still terrible at discussing the future and generating new ideas. It also hasn’t lost its tendency to deliver incorrect information with too high a degree of confidence.

    Further improving on its product, in May 2024 OpenAI launched Chat GPT-4o, with the o standing for omni. OpenAI describes GPT-4o as ‘a step towards much more natural human-computer interaction—it accepts as input any combination of text, audio, image, and video and generates any combination of text, audio, and image outputs.’

    This version has done away with the lagging response time afflicting GPT-4. This proves especially helpful for producing immediate translations during conversations between speakers of different languages. It also allows users to interrupt the chatbot to pose a new query to modify responses.

    More recently, in December 2024, OpenAI introduced ChatGPT Pro subscriptions targeting engineers and academics. For US$200 monthly, users have nearly unlimited access to all ChatGPT models and tools.

    The ChatGPT 3.5 and ChatGPT-4 platforms are free to use, and can be accessed via the web. Those with an iPhone or iPad can also use ChatGPT through an app, and an Android version launched in July 2023. OpenAI also launched a paid subscription, ChatGPT Plus for business use, in August 2023. ChatGPT Plus gives users access to GPT-4 and the newest iteration GPT-4o.

    What is the Stargate Project?

    The Stargate Project is an AI joint venture focused on building new AI infrastructure in the US through US$500 billion in investments. It was announced on January 21, 2025.

    Stargate’s initial funding is coming from OpenAI, SoftBank, Oracle (NYSE:ORCL) and UAE-based technology fund MGX. In addition to OpenAI and Oracle, Stargate’s technology partners include Microsoft, NVIDIA, and British semiconductor and software design company Arm Holdings (NASDAQ:ARM).

    Newly re-elected US President Trump unveiled Stargate during a press conference at the White House highlighting the importance of investment in US AI infrastructure. During the announcement, OpenAI’s Altman, Oracle co-founder Larry Ellison and Softbank CEO Masayoshi Son credited President Trump’s return to office as a major catalyst in making Stargate a reality. The construction of data centers for the Stargate Project are already underway in Texas, according to Ellison.

    How much has Microsoft invested in OpenAI?

    Ascannio / Shutterstock

    Over the years, Microsoft has reportedly invested nearly US$14 billion in OpenAI to help the small tech firm create its ultra-powerful AI chatbot.

    As for how Microsoft could benefit from its investment in OpenAI, OpenAI officially licensed its technologies to Microsoft in 2020 in a then-exclusive partnership. Indeed, Pitchbook has described the deal as an “unprecedented milestone” for generative AI technology. Since then, Microsoft has made good use of OpenAI’s technology in developing new advancement in its Azure cloud computing business.

    However, the relationship between the two has changed in recent months.

    Notably, Microsoft is not a financier of the Stargate Project joint venture, and is instead just described as a technology partner. According to OpenAI’s press release, the new joint venture builds on its existing partnership with Microsoft.

    Microsoft’s lack of a funding role in Stargate led some to wonder if the trillion-dollar tech firm had soured on its relationship with OpenAI. This conclusion was understandable given reports that Microsoft refused to make a bigger contribution than the US$750 million it invested during the OpenAI US$6.6 billion funding round in October 2024.

    Additionally, Microsoft changed the contract between the two companies and is no longer the exclusive cloud provider for OpenAI, but has the right of first refusal for deals the AI firm may make with other cloud companies.

    As Bloomberg technology reporter Dina Bass explained, Microsoft stands to benefit from its role as a technology partner without having to invest a dime into the project.

    “Microsoft views the revised contract with OpenAI as advantageous, according to people familiar with the company’s thinking. The software giant retains its share of OpenAI’s revenue and is the largest investor in a company that may now become even more valuable — though the size of that stake could change as the startup works to restructure as a for-profit,” wrote Bass. “And Microsoft also still has access to OpenAI models, even if they’re trained in a data center funded by Softbank or Oracle.”

    Yet, there are reports that Microsoft and OpenAI’s relationship is on the brink of a big breakup. The tech giant has been pushing for a much larger percentage of OpenAI’s revenues than the 20 percent it currently enjoys. According to the Wall Street Journal, OpenAI is considering making antitrust complaints about Microsoft to regulators even though the two companies are still undergoing high level discussions about the future of the partnership.

    Elon Musk’s position on OpenAI

    DIA TV / Shutterstock

    OpenAI was founded in 2015 by Altman, its current CEO, as well as Tesla (NASDAQ:TSLA) CEO Elon Musk and other big-name investors, such as venture capitalist Peter Thiel and LinkedIn co-founder Reid Hoffman. Musk left his position on OpenAI’s board of directors in 2018 to focus on Tesla and its pursuit of autonomous vehicle technology.

    A few days after ChatGPT became available for public testing, Musk took to X, formerly known as Twitter, to say, “ChatGPT is scary good. We are not far from dangerously strong AI.” That same day, he announced that X had shut the door on OpenAI’s access to its database so it could no longer use it for RLHF training.

    His reason: “OpenAI was started as open-source & non-profit. Neither are still true.”

    Furthering his feud with OpenAI, Musk filed a lawsuit against the company in March 2024 for an alleged breach of contract. The crux of his complaint was that OpenAI has broken the ‘founding agreement’ made between the founders (Altman, Greg Brockman and himself) that the company would remain a non-profit. Altman and OpenAI have denied there was such an agreement and that Musk was keen on an eventual for-profit structure.

    Musk dropped the lawsuit three months later without giving a reason, reported Reuters. The day before he dropped the lawsuit, he reacted to the news that Apple (NASDAQ:AAPL) is partnering with OpenAI to incorporate ChatGPT with Apple devices. On X, Musk declared, ‘If Apple integrates OpenAI at the OS (operating system) level, then Apple devices will be banned at my companies. That is an unacceptable security violation.” It should be noted that OpenAI has said queries completed on Apple devices will not be stored by OpenAI. By August 2024, Musk had resumed his litigation in federal court.

    It seems that the US government also has questions about the restructuring of the private company and the involvement of tech giant Microsoft, as reported by Bloomberg. In early January 2025, the Financial Press also reported the Federal Trade Commission (FTC) has raised questions about the potential anti-trust violations in the newly emerging AI technology space arising from Microsoft’s partnership with and investments in OpenAI.

    Of course, Musk took to X to weigh in on the Stargate Project, suggesting OpenAI and its partners don’t actually have the US$500 million they’ve pledged to invest. Sam Altman was quick to reply, telling Musk he’s mistaken and inviting him to visit their data center under construction in Texas.

    However, Musk is not alone in his skepticism. For example, Atreides Management Chief Investment Office Gavin Baker also questioned the deal on X. “Stargate is a great name but the $500b is a ridiculous number and no one should take it seriously,” Baker wrote, backing up his statement by explaining the financial positions of each of the partners. “Nowhere close to $500b. Everyone should just start issuing press releases for $1 trillion AI projects.”

    OpenAI criticisms and lawsuits

    While ChatGPT has served as a major step forward in generative AI technology, there are many technical and ethical concerns with the program that have emerged since it launched, including fears over job destruction and targeted disinformation campaigns.

    Accuracy of information in ChatGPT’s answers is not guaranteed. Its selection of which words to string together are actually predictions — not as fallible as mere guesses, but still fallible. Even the 4.0 version is “still is not fully reliable (it “hallucinates” facts and makes reasoning errors),” says the company, which emphasizes that users should exercise caution when employing the technology.

    Indeed, ChatGPT’s failings can have dangerous real-life consequences. Among other negative applications, the tech can be used to spread misinformation, carry out phishing email scams or write malicious code.

    There’s also the fear among teachers that the technology is leading to an unwelcome rise in academic dishonesty, with students using ChatGPT to write essays or complete their homework.

    “Teachers and school administrators have been scrambling to catch students using the tool to cheat, and they are fretting about the havoc ChatGPT could wreak on their lesson plans,” writes New York Times tech columnist Kevin Roose.

    Many lawsuits against OpenAI have emerged as well. Multiple news outlets, including the the New York Times, have launched copyright lawsuits against OpenAI, and some of the plaintiffs are also seeking damages from the private tech firm’s very public partner Microsoft.

    Additionally, the Authors Guild, which represents a group of prominent authors, launched a class-action lawsuit against OpenAI that is calling for a licensing system that would allow authors to opt out of having their books used to train AI, and would require AI companies to pay for the material they do use.

    In October, OpenAI researcher Suchir Balaji blew the whistle on the company, reporting that the firm was violating US copyright laws. He died one month later in what was ruled a suicide, but the investigation is still open.

    Cybersecurity risks are also a concern for ChatGPT users, and recent events along these lines add validity to Musk’s warning. For one, in 2024 ChatGPT for macOS was discovered to be breaching Apple’s security rules by storing data as plain text rather than encryption, making it possible for other apps to access.

    What’s the future of OpenAI and ChatGPT?

    What about the long-term goals for OpenAI and ChatGPT? For most of the tech leaders in this space, the end game is artificial general intelligence (AGI) — a system that can perform any function the human brain can, including self-teaching, abstract thinking and understanding cause and effect.

    As uptake increases, AI technology is taking over the role of humans and will likely continue doing so in a number of fields, from content creation and customer service to transcription and translation services, and even in graphic design, software engineering and paralegal fields.

    In addition to Microsoft’s use of the ChatGPT technology as part of Copilot, other companies are working with OpenAI to incorporate the technology into their platforms, including Canva, Duolingo (NASDAQ:DUOL), Expedia Group (NASDAQ:EXPE), Intercom, Salesforce (NASDAQ:CRM), Stripe, Tinder, Upwork (NASDAQ:UPWK) and Visa (NYSE:V).

    For 2025, OpenAI is focusing on developing agentic AI capabilities into its ChatGPT platform. Agentic AI, a part of the evolution towards AGI, involves AI systems and models that can act autonomously and complete tasks without much human guidance. Early in January, OpenAI announced the rollout of new task features for ChatGPT Pro, Plus and Teams users. While still in the beta stage, these features allow users to schedule future tasks to be completed by ChatGPT, such as a weekly news brief or reminders about important meetings.

    OpenAI first debuted its foray into agentic AI in September 2024 with the introduction of ChatGPT o1, stating ‘We’ve developed a new series of AI models designed to spend more time thinking before they respond.’ The release of the next iterations of this model, ChatGPT o3 mini and o4 mini happened in the first half of 2025.

    The recent release of Chinese startup DeepSeek’s AI assistant may present a problem for OpenAI and the US tech industry as a whole. In what tech gurus like Marc Andreesen call AI’s Sputnik moment, DeepSeek unseated ChatGPT as the most downloaded free app in the Apple App Store, at reportedly a fraction of the cost. For reference, in 1957 the Soviets launched Sputnik, the earth’s first artificial satellite, beating out the United States and sparking a Cold War space exploration race between the two nations.

    The DeepSeek launch set off a significant sell off in technology stocks on January 27, 2025, especially among the Magnificent Seven members, including NVIDIA, Microsoft and Alphabet (NASDAQ:GOOGL).

    When will OpenAI go public?

    OpenAI stock is not currently publicly traded, and following the May 2025 decision to remain a non-profit, there are no signs of an on initial public offering (IPO) in the works for 2025. For now, investors can gain exposure through related tech companies discussed below.

    Which stocks will benefit the most from AI chatbot technology?

    Other than companies directly tied to generative AI technology, which stocks are likely to get a boost from generative AI advancements?

    There are several verticals in the tech industry with indirect exposure to AI chatbot technology, such as semiconductors, network equipment providers, cloud providers, central processing unit manufacturers and internet of things.

    Some of the publicly traded companies in these verticals include:

      You can also take a look back at the market with our AI Market 2024 Year-End Review and AI Market Update: Q2 2025 in Review, or read projections for AI this year in our AI Market Forecast: 3 Top Trends that will Affect AI in 2025. Generative AI is also a major theme in the Top 10 Emerging Technologies to Watch.

      FAQs for investing in OpenAI and ChatGPT

      How is OpenAI funded?

      OpenAI raised US$57.9 billion over 11 funding rounds from 2016 to March 2025.

      Top investors include technology investment firm Thrive Capital, venture capital firm Andreessen Horowitz and revolutionary technology investment firm Founders Fund.

      What is the market value of ChatGPT/OpenAI?

      OpenAI has a market valuation of US$300 billion as of June 2025. The company’s annualized revenue reached the US$10 billion mark in June 2025, up from the US$5.5 billion achieved in December 2024.

      Does ChatGPT use NVIDIA chips?

      ChatGPT’s distributed computing infrastructure depends upon powerful servers with multiple graphics processing units (GPUs). High-performance NVIDIA GPU chips are preferred for this application as they also provide excellent Compute Unified Device Architecture support.

      What is DeepSeek?

      DeepSeek is a Chinese AI company that launched new AI-driven, open-source language models known as DeepSeek-V3 and DeepSeek-R1 into the market in January 2025. Reuters reports that ‘the training of DeepSeek-V3 required less than $6 million worth of computing power from Nvidia H800 chips.’

      DeepSeek-R1 is designed to compete with the performance of OpenAI-o1 across math, code, and reasoning tasks.

      Can ChatGPT make stock predictions?

      A University of Florida study from 2023 highlighted the potential for advanced language models such as ChatGPT to accurately predict movements in the stock market using sentiment analysis.

      During the course of the study, ChatGPT outperformed traditional sentiment analysis methods, and the finance professors conducting the research concluded that “incorporating advanced language models into the investment decision-making process can yield more accurate predictions and enhance the performance of quantitative trading strategies.”

      When to expect ChatGPT 5?

      In June 2025, during an OpenAI podcast Sam Altman responded with, ‘Probably some time this summer,’ when asked about when the market can expect to see ChatGPT-5.

      Previously, OpenAI filed a trademark application for ChatGPT-5 in mid-July 2023, which hinted that the next iteration of the generative AI technology is currently under development. There were rumors the company planned to complete training for ChatGPT-5 by the end of 2023, but this did not materialize. PC Guide noted in April 2024 that Sam Altman had teased an “amazing new model this year’ in an interview on the Lex Fridman podcast.

      In November 2024, Altman confirmed that ChatGPT-5 wouldn’t likely hit the market until later in 2025 as the company switched its focus to ChatGPT o1 and its successors.

      Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

      by
      Read More
      In Economy

      Fox One streaming service to launch ahead of NFL season on Aug. 21, at $19.99 per month

      No Comments

      Fox Corp. will launch its direct-to-consumer streaming service, Fox One, on Aug. 21, ahead of the NFL season, the company said Tuesday.

      The new streaming service will cost $19.99 per month, and pay TV subscribers will receive access for free, said CEO Lachlan Murdoch during the company’s earnings call.

      Fox One will host the entirety of the Fox TV portfolio — namely, live sports such as NFL and MLB that appear on its broadcast network, as well as news programming from its Fox News and Fox Business cable TV networks.

      Fox airs NFL games on Sundays during the regular season, which kicks off this year on September 4. The broadcast network also airs MLB postseason games, as well as college football, which also takes place in the fall.

      However, the streaming service won’t offer any exclusive or original content, Murdoch said, adding that much of its costs will come from overhead, marketing and technology. This is in contrast to most of Fox’s competitors, which spend on additional sports rights and other content exclusive to streaming.

      “It’s important to remember that our subscriber expectations or aspirations for Fox One are modest,” Murdoch said.

      The company has been slower than its peers to jump into the streaming game. While it already has the Fox Nation service and Tubi, a free, ad-supported streaming app, it has yet to offer its full content slate in a direct-to-consumer offering.

      Murdoch previously said the cost for the service would be “healthy and not a discounted price,” in an effort to avoid further disrupting the pay TV bundle, which has suffered continued customer losses.

      Fox’s portfolio is mainly made up of sports and news content since it sold its entertainment assets to Disney in 2019. This has shielded Fox from some of the cord-cutting headwinds that have affected its media peers in recent years.

      On Tuesday, Murdoch reiterated that the company will be looking to bundle Fox One with other streaming services. However, he said the company will be careful on that front, similarly so as not to cause further damage to the pay TV ecosystem.

      He said Fox is mindful of two factors when it comes to bundling. First, to offer the consumer a convenient package of its content, and potentially valuable bundles. And second, to keep the service “very focused” on a “targeted audience” of those customers without pay TV subscriptions.

      “Sometimes those two things conflict with each other. So we want to be very targeted, but we also want to make it easy for our consumers and our viewers to gain our content, whether it’s in conjunction with other services or not,” Murdoch said.

      Earlier this year, Murdoch told investors that Fox would launch its own answer to streaming after dropping its efforts for the joint sports streaming venture, Venu.

      It will be joined by a new streaming offering from Disney’s ESPN in the coming weeks. While Disney already offers the ESPN+ streaming service, the company will launch a full-service ESPN direct-to-consumer product this fall. Disney earlier said that the app will cost $29.99 a month. Disney reports its quarterly earnings on Wednesday.

      On Tuesday, Fox reported total revenue for its most recent quarter of $3.29 billion, up 6% from the same period last year.

      While the advertising market has been weak for media companies, particularly for content outside of live sports, Fox reported its advertising revenue increased 7%. The company said this was primarily due to growth from Tubi as well as “stronger news ratings and pricing,” despite a drag from the absence of major soccer events as compared to the year-earlier quarter.

      This post appeared first on NBC NEWS

      by
      Read More
      In Economy

      Tim Cook to join Trump at White House for Apple investment announcement

      No Comments

      Apple CEO Tim Cook will join President Donald Trump on Wednesday for an event touting what the White House calls a new $100 billion investment commitment by the tech giant in the U.S.

      The announcement in the Oval Office, set for 4:30 p.m. ET, includes Apple’s commitment to a new “American Manufacturing Program,” a White House official confirmed to CNBC.

      With the new pledge, Apple’s total investment in the U.S. over the next four years now totals $600 billion, the official said.

      Bloomberg first reported Apple’s new investment pledge earlier Wednesday.

      The meeting comes as Trump has pushed Apple to make its products in America — a feat that experts say would jack up prices by hundreds of dollars, if it can even be done at all.

      Most of Apple’s flagship iPhones have been manufactured in China, though the company is moving some of its production to India.

      Trump has complained about that plan. “We’re not interested in you building in India, India can take care of themselves … we want you to build here,” Trump said he told Cook in May.

      On Wednesday, Trump announced he will double the U.S. tariff rate on Indian goods to 50%. Trump said he was raising the tariff because of India continuing to purchase Russian oil.

      Trump had exempted smartphones, chips and other tech products from his early April “reciprocal” tariff plan, which slapped a 10% baseline duty on nearly the entire world and set significantly higher rates for dozens of individual countries.

      That exemption still applied as of this week, following Trump’s executive order tweaking U.S. tariffs on a slew of countries.

      And it appears to remain intact in Trump’s latest order ratcheting up tariffs on imports from India.

      Apple declined CNBC’s request for comment.

      — CNBC’s Steve Kovach contributed to this report.

      This post appeared first on NBC NEWS

      by
      Read More
      In Investing

      Questcorp Mining and Riverside Resources Announce Commencement of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

      No Comments

      Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to announce that drilling has commenced on its La Union Project in northwest Sonora, Mexico. This work is being carried out by property vendor and operator Riverside Resources Inc. (TSXV: RRI).

      Highlights

      • Initial drill program is designed to expand known zones of mineralization, test new targets, and explore areas surrounding multiple historical mine workings within the 25 km² project area.
      • Drill program will consist of + 1,500m of diamond core drilling across six holes, each averaging 250m in depth.
      • Drilling to test the carbonate-hosted replacement deposit (CRD) style of mineralization, with gold associated with mantos, chimneys, and along structural zones.
      • Angled drill holes are aimed at cutting perpendicular to stratigraphic targets and some structural targets which is typical in CRD systems
      • Structural features may have served as mineralizing conduits and are key targets in the current drill program.

      The recent exploration work over the past three months by Riverside has improved the understanding of the structural geology and stratigraphy in the Sierra El Viejo, the mountain range immediately to the west of La Union Project. The La Union district lies along the flanks of this range, where these updated interpretations help guide current exploration efforts. The exploration target focus is for a large potential gold discovery that expands from previous smaller scale mine operations on the property. The drill program will begin to test the new concepts and expand past previous mining.

      Saf Dhillon, President & CEO states, ‘Questcorp is proud to be working with John-Mark and his whole team at Riverside in what is a historic moment in the development of this property. The La Union Project has had work conducted on it for decades, including the production of 50,000 ounces of gold itself but, it has never had a drill bit pierce the ground until now!’

      Earlier this year, Questcorp entered into a definitive option agreement with Riverside’s wholly owned subsidiary, RRM Exploracion, S.A.P.I. DE C.V. to acquire a 100% interest in the La Union Project. As part of the agreement, Questcorp issued shares to Riverside, making Riverside a shareholder and aligning both parties’ interests in the Project’s success. With funding provided by Questcorp, an initial C$1,000,000 exploration program is now underway. This marks the first phase of a larger, C$5,500,000 work commitment, contingent on exploration results and Questcorp’s continued participation.

      The Drill Program Targets include more than four different areas, beginning with this early-stage stratigraphic and orientation phase of drilling exploration aimed at evaluating the scale of alteration and indications of a mineralized system. This will be the first drilling ever conducted on most of the targets, despite past mining having occurred in the majority of these areas. The initial program will consist of one to three holes per area, primarily for orientation purposes. Follow-up drilling is planned and can be expanded based on initial results, which will help verify the stratigraphy, lithologies, and structural features allowing for improved modeling and next-stage discovery targeting. The four areas are listed below:

      • Union Main Mine Area – The program will use angled drill holes to test limestone and other carbonate stratigraphic hosts within the Clemente Formation, with the potential to reach the underlying Caborca Formation. These units are considered the primary hosts for replacement-style mineralization.
      • North Union Mine Area – The initial focus of the program will be on testing structural interpretations. Additional drilling is anticipated following this first phase, as results will help guide future drill testing of areas with past mining activity and various structural orientations.
      • Cobre Mine Area – The Clemente Formation is the primary host unit, and structural features combined with areas of past mining provide multiple target zones. Drilling will begin with an initial stratigraphic test hole to help orient around the thickness of the host unit and extend into the lower Caborca Formation, which is also a favorable host for CRD-style mineralization.
      • Central Union Area – Structural targets, as possible mineralization feeder zones, are a key focus in this past mining manto area. There are extensive additional target zones in the area, and this initial orientation drilling will provide vectoring for the next stage of drilling and further study of the Clemente Formation, and possibly into the Caborca Formation as currently interpreted.

      General Overview of La Union Project

      The Project is summarized in a recently published NI 43-101 Technical Report available under Questcorp’s SEDAR+ profile (www.sedarplus.ca). Riverside initially acquired the Project and subsequently consolidated additional inlier mineral claims, building a strong land position. Riverside then advanced the Project through surface access agreements and drill permitting, making it a turn-key exploration opportunity for Questcorp.

      The Project was originally identified through Riverside’s exploration work in the western Sonora Gold Belt, conducted in collaboration with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochschild Mining Plc. Earlier research by Riverside Founder John-Mark Staude also contributed to recognizing the district’s potential. Initial work by members of the Riverside team, drawing on more than two decades of geological compilation and analysis, further confirmed the region as highly prospective.

      At the Project, historical mining by the Penoles Mining Company targeted chimney and manto-style replacement bodies within the upper oxide zones. As a result, the underlying sulfide zones represent immediate and compelling drill targets for further exploration.

      The Project features favorable limestone host rocks, an extensive alteration footprint, and multiple small-scale historical workings, with mineralization styles similar to those at the Hermosa Project in southern Arizona. At Hermosa, South32 is advancing mine development following its acquisition of the project from Arizona Mining. On 15 February 2024, South32’s board approved a US $2.16 billion capital investment to develop the Taylor zinc-lead-silver deposit, representing the largest private mining investment in Southern Arizona’s history. The project is now considered one of the most significant undeveloped base-metal assets in the United States.

      At the La Union Project, immediate drill targets offer the potential for significant-scale discoveries. La Union is well positioned for near-term exploration success, with targets that include both oxide and deeper sulfide mineralization.

      Figure 1. Geologic map with the tenure of the Union internal concession shown in pink. Manto and chimney type CRD targets are shown as red polygons. All mineral tenures on this map comprise the La Union project. The drill program will focus on the Union Mine and areas north of the Union Mine with the initial drill work.

      To view an enhanced version of this graphic, please visit:
      https://images.newsfilecorp.com/files/10197/261433_a2ed3d4fb471dade_001full.jpg

      Figure 2. Cross section looking west with conceptual drill targets and schematic drillhole traces. Assays from Riverside’s sampling of rock dump materials from the two mine areas are labeled in black. Red areas are interpreted as manto and chimney target bodies that are now well defined and drill ready. Assays shown on figures 1 and 2 have been previously released and disclosed as summarized below the geochemical QA/QC and in published NI 43-101 Report that Questcorp published 2025 on Sedar+.

      To view an enhanced version of this graphic, please visit:
      https://images.newsfilecorp.com/files/10197/261433_a2ed3d4fb471dade_002full.jpg

      The La Union Project

      The La Union Project is a carbonate replacement deposit (‘CRD’) project hosted by Neoproterozoic sedimentary rocks (limestones, dolomites, and siliciclastic sediments) overlying crystalline Paleoproterozoic rocks of the Caborca Terrane. The structural setting features high-angle normal faults and low-to-medium-angle thrust faults that sometimes served as mineralization conduits. Mineralization occurs as polymetallic veins, replacement zones (mantos, chimneys), and shear zones with high-grade metal content, as shown in highlight grades of 59.4 grams per metric tonne (g/t) gold, 833 g/t silver, 11% zinc, 5.5% lead, 2.2% copper, along with significant hematite and manganese oxides, consistent with a CRD model (see the technical report entitled ‘NI 43-101 Technical Report on the Union Project, State of Sonora, Mexico’ dated effective May 6, 2025 available under Questcorp’s SEDAR+ profile). These targets also demonstrate intriguing potential for large gold discoveries potentially above an even larger porphyry Cu district potential as the Company’s target concept at this time.

      Questcorp cautions investors that grab samples are selective by nature and not necessarily indicative of similar mineralization on the property.

      The technical and scientific information in this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (BC), a director of the Company and a ‘qualified person’ under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

      About Questcorp Mining Inc.

      Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.

      Contact Information

      Questcorp Mining Corp.

      Saf Dhillon, President & CEO

      Email: saf@questcorpmining.ca
      Telephone: (604) 484-3031

      This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Riverside’s arrangements with geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

      To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261433

      News Provided by Newsfile via QuoteMedia

      This post appeared first on investingnews.com

      by
      Read More
      In Economy

      U.S. farm agency allows six more states to bar some items from food aid

      No Comments

      WASHINGTON — The Agriculture Department allowed six additional states Monday to bar participants in the Supplemental Nutrition Assistance Program from using their benefits to buy certain processed foods, such as sodas and candy.

      The SNAP waivers for West Virginia, Florida, Colorado, Louisiana, Oklahoma and Texas amend the statutory definition of food for purchase and put an end to the subsidization of popular types of junk food beginning in 2026.

      The administration of President Donald Trump has encouraged all states to take such measures as part of its “Make America Healthy Again” initiative, named for the social movement led by Health Secretary Robert F. Kennedy Jr.

      The USDA had so far signed waivers to allow six states — Arkansas, Idaho, Utah, Iowa, Indiana and Nebraska — to place similar purchasing restrictions on SNAP recipients.

      “I hope to see all 50 states join this bold commonsense approach. For too long, the root causes of our chronic disease epidemic have been addressed with lip service only,” said the U.S. Food and Drug Commissioner Marty Makary.

      Agriculture Secretary Brooke Rollins announced the additional waivers at an event at the USDA headquarters in Washington.

      “These state waivers promote healthier options for families in need,” said Secretary Rollins.

      More than 42 million people receive SNAP benefits, sometimes called food stamps, as part of the nation’s largest anti-hunger program.

      The massive tax cut and spending bill signed by President Trump in July makes significant changes to the SNAP program, including expanding work requirements and shifting more spending for the program to states.

      This post appeared first on NBC NEWS

      by
      Read More
      In Economy

      Murdoch to provide Trump health updates in deal to delay Epstein case deposition

      No Comments

      Conservative media baron Rupert Murdoch will give President Donald Trump regular updates on his health as part of an agreement to postpone Murdoch’s deposition in Trump’s $10 billion defamation lawsuit against him over a Wall Street Journal article about late sex offender Jeffrey Epstein.

      The unusual stipulation comes a week after Trump’s lawyers sought a quick deposition in the case. Their filing in Miami federal court implied that Murdoch might be either dead or too sick to testify in person by the time the case went to trial.

      “Murdoch is 94 years old, has suffered from multiple health issues throughout his life, is believed to have suffered recent significant health scares, and is presumed to live in New York, New York,” Trump’s lawyers said in their filing last week.

      Murdoch’ agreement to divulge highly personal information about his health to Trump and his lawyers contrasts sharply with the cozy relationship Murdoch’s Fox News has had with the president over the years.

      Fox News for more than a decade has acted as a cheerleader for Trump and his policies. The president is an avid watcher of the conservative network, and several of his key administration officials have worked for Fox. Trump’s daughter-in-law, Lara Trump, currently has a show on Fox News.

      The new deal, outlined in a court filing jointly filed by Trump’s and Murdoch’s lawyers late Monday night, postpones Murdoch’s deposition in the case until after a judge rules on his and other defendants’ motions to dismiss Trump’s lawsuit.

      If the judge denies that dismissal motion, Murdoch would have to sit for questioning under oath from Trump’s lawyers within 30 days.

      The deal has to be approved by the judge, but it is likely to be approved given that both sides have agreed to it.

      When the judge signs off on it, Murdoch will be required within three calendar days to give Trump’s’ lawyers “a sworn declaration describing his current health condition,” according to the stipulation filed Monday.

      “Defendant Murdoch has further agreed to provide regularly scheduled updates to Plaintiff regarding his health, including a mechanism for him to alert the Plaintiff if there is a material change to his health,” the filing says.

      That mechanism is described in a separately signed agreement, which was not publicly filed with the court.

      If Murdoch fails to provide the updates as agreed to in the abatement agreement, he will have to sit for an “expedited” deposition, the filing says.

      A spokesman for Trump declined to comment on the filing.

      CNBC has requested comment from Dow Jones & Co., the publisher of the Journal, which is owned by Murdoch’s News Corp.

      Trump’s suit alleges defamation for a Wall Street Journal article in July which said he had sent Epstein a “bawdy” birthday card in 2003 for Epstein’s 50th birthday.

      Trump, who denies writing the note, sued Murdoch; News Corp and its CEO Robert Thomson; Dow Jones & Co.; and the two reporters who wrote the article.

      For weeks, the president and the Justice Department have faced criticism for a decision not to release investigative files about Epstein, a former friend of Trump’s, who died by suicide in jail in 2019, after being arrested on child sex trafficking charges.

      This post appeared first on NBC NEWS

      by
      Read More
      In Investing

      Fortune Bay Announces Option Agreement for the Woods Uranium Projects

      No Comments

      Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce that it has entered into a definitive option agreement (the ‘Agreement’), dated July 25, 2025, with Neu Horizon Uranium Limited ACN 653 749 145 (the ‘Optionee’), a private Australian arms-length party. Pursuant to the Agreement, the Optionee will be granted the option (the ‘Option’) to acquire an eighty percent interest in The Woods Uranium Projects (‘The Woods’ or the ‘Projects’) located on the northern margin of the Athabasca Basin, Saskatchewan (Figure 1).

      Figure 1: The Woods Uranium Projects – District-Scale Opportunity (CNW Group/Fortune Bay Corp.)

      The Woods Highlights:

      • District-scale opportunity, including five projects covering approximately 40,000 hectares.
      • A dominant land position along the Grease River Shear Zone (‘GRSZ’) within 30 kilometres of the northern Athabasca Basin margin.
      • The GRSZ is significantly underexplored relative to other major Athabasca Basin structures (less than 20 historical drill holes northeast of Fond du Lac, and only 3 historical drill holes on the Projects).
      • Geological settings and structural features are prospective for; 1) unconformity-related basement-hosted uranium deposits, 2) magmatic intrusive uranium deposits and, 3) rare earth element (‘REE’) deposits.
      • Abundant historical uranium and REE showings, and the highest lake sediment uranium anomalies in Saskatchewan.

      Dale Verran, CEO of Fortune Bay, commented: ‘We are pleased to have executed a Definitive Option Agreement with Neu Horizon for the advancement of The Woods Uranium Projects. This partnership combines strong technical capabilities and capital markets expertise to accelerate exploration efforts on these high-potential projects at a time of strengthening uranium market fundamentals. The transaction reflects our disciplined approach to capital allocation—prioritizing spend on our core gold assets at Goldfields and Poma Rosa—while unlocking blue-sky potential from earlier-stage projects through partnerships that preserve upside for our shareholders.’

      Martin Holland, Executive Chairman of Neu Horizon Uranium, added: ‘We’re pleased to have successfully closed the earn-in agreement with Fortune Bay and to partner with an experienced in-country team, complementing Neu’s strong technical expertise. With this foundation in place, we’re eager to hit the ground running and carry out substantial work to position the project for drilling ahead of our planned ASX IPO in Q1 2026.’

      Key Terms

      Consistent with the Letter of Intent (the ‘LOI’) signed in May, 2025, the Option is exercisable by the Optionee completing staged cash payments and share issuances, and incurring the following exploration expenditures on the Project:

      Cash

      Consideration
      Shares

      Exploration
      Expenditures

      Interest Earned

      Signing of Definitive Agreement

      A$50,000

      A$50,000

      Nil

      80 %

      31 December 2025

      Nil

      A$200,000

      A$700,000

      31 December 2026

      Nil

      A$500,000

      A$2,300,000

      Total

      A$50,000

      A$750,000

      A$3,000,000

      The Company will act as the operator during the Option period and will be entitled to charge a management fee of 10% of expenditures incurred on the Projects. A participating Joint Venture (‘JV’) will be formed at the end of the Option period, consistent with customary JV Terms. The JV will allow for dilution and should the Company’s interest fall below 10% the Company will be granted a 2% net smelter returns (‘NSR’) royalty. One-half (1%) of the NSR may be purchased at any time prior to commercial production for a cash payment of A$5 million, subject to Consumer Price Index increase.

      Further Projects details are provided in the Company’s News Release dated May 29, 2025.

      Qualified Person

      The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick, P.Geo., Technical Director of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43-101.

      Technical Disclosure on Historical Results

      The historical uranium and REE occurrences referenced in the ‘Woods Highlights’ section derive from the Saskatchewan Mineral Deposits Index. The lake sediment uranium anomalism referred to in the same section refers to historical results derived from the Saskatchewan Mineral Assessment Database file number 74O09-0004, in comparison with the open-source regional Saskatchewan lake sediment geochemistry database available on the Government of Saskatchewan Mining and Petroleum GeoAtlas. Historical results are not verified and there is a risk that any future confirmation work and exploration may produce results that substantially differ from these. The Company considers these unverified historical results relevant to assess the mineralization and economic potential of the property.

      About Fortune Bay

      Fortune Bay Corp. (TSXV:FOR, FWB:5QN, OTCQB:FTBYF) is an exploration and development company with 100% ownership in two advanced gold projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Poma Rosa Project), both with exploration and development potential. The Company is also advancing seven uranium exploration projects on the northern rim of the Athabasca Basin, Saskatchewan, which have high-grade potential. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company’s corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company’s website at www.fortunebaycorp.com or by contacting us as info@fortunebaycorp.com or by telephone at 902-334-1919.

      About Neu Horizon

      Neu Horizon is a public unlisted Australian company focused on discovering and developing Tier 1 uranium deposits in premier exploration jurisdictions. Through this exciting new partnership with Fortune Bay, the company has access to a dominant land package with over 100,000ha of prime exploration ground covering three projects in Sweden and five projects in Canada.

      Sweden is Europe’s leading mining nation and also hosts the world’s largest low-grade uranium resource within the Alum-shale, where Neu Horizon has a significant landholding. The company aims to take advantage of the Swedish Government’s plans to lift the 2018 moratorium on uranium exploration and mining to delineate a significant European uranium deposit.

      Canada’s Athabasca Basin is the world’s leading source of high-grade uranium. Access to this land package along the northern rim of the basin provides Neu Horizon direct access to this underexplored uranium exploration frontier.

      These strategic projects align Neu Horizon with the global demand for clean, sustainable and low-carbon energy, by taking advantage of both countries’ rich uranium resources and supportive mining legislation.

      On behalf of Fortune Bay Corp.

      ‘Dale Verran’
      Chief Executive Officer
      902-334-1919

      Cautionary Statement Regarding Forward-Looking Information

      Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements.

      Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com.

      Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


      Source

       

       

      This post appeared first on investingnews.com

      by
      Read More