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High Tide Inc. (NASDAQ: HITI), Canada&#39;s largest cannabis retailer, welcomed the Alcohol and Gaming Commission of Ontario&#39;s decision &#34;to permit retail cannabis licensees to enter into agreements with licensed producers related to store brand or white label cannabis produ

Canada&#39;s Largest Cannabis Retailer, High Tide, Welcomes Gov&#39;s Decision On White Label Products

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Below is a recap of the main news related to the cannabis industry and markets for the week of January 24, 2022.




Contents

The Week In Cannabis: Amazon Supports Legalization, NY Expands Its Medical Program, Stocks Underperform And More

BevCanna Enterprises Inc

The Trump administration is mounting an aggressive push this weekend to secure Senate support for <a href="https://www.benzinga.com/topic/tulsi-gabbard" target="_blank" rel="noreferrer noopener">Tulsi Gabbard</a>'s nomination as Director of National Intelligence (DNI), according to Axios. With the Senate Intelligence Committee vote looming, officials are scrambling to ensure Gabbard, a former Democratic congresswoman and military veteran, clears the crucial first hurdle in her confirmation process.
Senate Republican Conference Chairman Tom Cotton (R-Ark.) has transformed the conference's official X account into a makeshift Gabbard "war room," underscoring the urgency of the administration's efforts. To advance her nomination to the full Senate, Gabbard needs to secure every Republican vote on the Intelligence Committee, though skepticism among some GOP senators threatens to derail her path. The committee includes nine Republicans and eight Democrats.
<h2 class="wp-block-heading">What's The Problem? Mostly Edward Snowden</h2>
The administration's lobbying efforts are reportedly focused on persuading Sen. Todd Young (R-Ind.), who, along with other senators, pressed Gabbard during her confirmation hearing over her reluctance to label whistleblower Edward Snowden a "traitor."
It seems no one has forgotten that Gabbard <a href="https://www.benzinga.com/news/24/12/42257381/snowden-finds-unexpected-allies-in-trumps-new-team">co-sponsored a resolution</a> in 2020 calling for the U.S. to dismiss all charges against Snowden, who has been living in Russia since 2013 after he leaked of classified documents from the National Security Agency.
<h2 class="wp-block-heading">Will Trump Step In? Mostly Likely</h2>
President Donald Trump is apparently considering direct outreach to the committee's Republicans to reassure them he has no intention of pardoning Snowden. 
"The president isn&#8217;t really talking about pardoning Snowden, but if that&#8217;s a guarantee they want to get Tulsi confirmed, the president will have those conversations,&#8221; an anonymous senior White House official <a href="https://www.axios.com/2025/02/01/trump-tulsi-gabbard-senate-intelligence">told</a> Axios.
A member of the Hawaii Army National Guard who deployed to Iraq with a medical unit, Gabbard also supports federal legalization of marijuana. Her outspoken stances over the years, including opposing mainstream intelligence views on Russia, are now raising questions about how she would oversee the nation&#8217;s 18 intelligence agencies with a combined budget of approximately $70 billion.
<h2 class="wp-block-heading">Get On Board Or You&#8217;re Out</h2>
Meanwhile, MAGA-aligned activists are warning of primary challenges against any Republican senator who opposes Gabbard. "We are 100% serious," Turning Point Action spokesperson Andrew Kolvet said in a statement reported by Axios. "GOP senators in red states will open themselves up to well-funded, well-organized primary challenges if they stand in the way of confirming the Cabinet the president wants and the American people voted for."
Now Read:
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<li><a href="https://www.benzinga.com/25/02/43418661/trump-announces-new-tariffs-on-goods-from-canada-mexico-and-china-will-go-into-effect-from-feb-1">Trump Announces New Tariffs On Goods From Canada, Mexico And China: Will Go Into Effect From Feb 1</a></li>
</ul>
Photo: Shutterstock

Government

Politics

Trump Camp Threatens GOP Holdouts: Confirm Tulsi Gabbard For DNI Or Face Reelection Backlash

Esteemed American financier Peter Lynch imparted some key investment wisdom, underscoring the significance of patience, basic arithmetic, and a <a href="https://www.benzinga.com/news/stock-split/25/01/42804677/investment-guru-peter-lynch-if-you-invest-only-in-an-index-youll-never-beat-it-brushing-up-on-stock-picking-skills-is-wise">keen focus on a company&#8217;s fundamentals</a>.
What Happened: In one of his books, One Up on Wall Street, he has highlighted some of the most insightful investment thoughts and guideances. 
Lynch, who achieved an impressive 29.2% annual return during his time at the Fidelity Magellan Fund, underscored the crucial role of patience in investment. He said in the book, &#8220;If&nbsp;you invest $1,000 in a&nbsp;stock, all you can lose&nbsp;is $1,000, but you stand&nbsp;to gain $10,000 or even&nbsp;$50,000 over time if you're&nbsp;patient.&#8221;
Contrary to widespread belief, Lynch argued that basic arithmetic skills are all one needs for successful investing. He stated, &#8220;All&nbsp;the math you need in&nbsp;the stock market you get&nbsp;in the fourth grade.&#8221; He emphasized the importance of understanding a company&#8217;s fundamentals rather than relying on intricate mathematical analysis.
Also Read: <a href="https://www.benzinga.com/markets/25/01/42935107/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a-lot-of-money">Peter Lynch&#8217;s Money-Making Advice: &#8216;When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money&#8217;</a>
Lynch also encouraged investors to concentrate on the companies themselves, rather than the stocks. He argued that aspects such as a company&#8217;s product lineup,&nbsp;growth potential, competitive advantages, and&nbsp;financial health are more indicative of its long-term performance than short-term market fluctuations.
Lynch reminded investors that losses are an inevitable part of investing and that there&#8217;s no disgrace&nbsp;in losing money on a&nbsp;stock. He stressed the importance of focusing&nbsp;on company fundamentals and industry&nbsp;outlook over short-term performance.
"There's no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating," he wrote in the book. &nbsp;
Why It Matters: Lynch&#8217;s insights serve as a timely reminder for investors, particularly those in their 60s, to focus on the long-term potential of their investments. His emphasis on patience, basic math, and company fundamentals over complex analysis and short-term market shifts provides a valuable perspective in today&#8217;s volatile market environment. 
His advice could potentially help investors make more informed decisions, mitigate losses, and maximize returns.
Read Next
<a href="https://www.benzinga.com/markets/24/12/42499608/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-t" target="_blank" rel="noreferrer noopener">Investment Guru Peter Lynch: ‘If You Can&#8217;t Explain To An 11-Year-Old In 2 Minutes Or Less Why You Own The Stock, You Shouldn&#8217;t Own It&#8217;</a>

Success Stories

Peter Lynch's Stock Tips: 'There's No Shame In Losing Money On A Stock, What Is Shameful Is To Hold On To A Stock When Fundamentals Are Deteriorating'

Famed investor&nbsp;Ray Dalio&nbsp;has forecasted China&#8217;s supremacy in the AI industry. Concurrently, Chinese AI startup&nbsp;DeepSeek&nbsp;has caused a significant disturbance in the tech market.
What Happened: Dalio expects&nbsp;China to leverage its manufacturing&nbsp;capabilities in the AI race, similar to its strategy with electric vehicles. He pointed out that leading AI firms like&nbsp;Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) are confronted with &#8220;risk issues.&#8221;
Dalio underscored China&#8217;s potential in the AI sector, saying,&nbsp;&#8220;I think the Chinese are&nbsp;a bit behind in the&nbsp;chips, but they&#8217;re ahead in&nbsp;the applications.&#8221; He envisions China&#8217;s plan to involve low-cost chips integrated into manufactured products, such as robotics.
&#8220;You want to invest in productivity, but there&#8217;s great disruption, great disruption, that&#8217;s going to take place, and they&#8217;re going to be the disruptors and the disruptees,&#8221; Dalio told the outlet.
DeepSeek, a Chinese AI startup, recently grabbed headlines with the launch of its R1 model, creating a buzz in Silicon Valley and resulting in a significant decline in tech stocks. Nvidia&#8217;s market cap plummeted by nearly $600 billion in the aftermath of the news, reports <a href="https://www.businessinsider.com/ray-dalio-deepseek-china-chips-nvidia-2025-1">the</a> Insider.
Also Read: <a href="https://www.benzinga.com/markets/25/01/42805138/ray-dalios-timeless-advice-if-you-dont-own-gold-you-know-neither-history-nor-economics">Ray Dalio&#8217;s Timeless Advice: &#8216;If You Don&#8217;t Own Gold, You Know Neither History Nor Economics&#8217;</a>
Investors are now reevaluating the substantial&nbsp;investments in AI infrastructure and&nbsp;capital expenditures by companies, particularly in light of potentially cheaper models like DeepSeek&#8217;s. An Nvidia spokesperson recognized DeepSeek as an &#8220;excellent AI advancement.&#8221;
Dalio also cautioned investors about the inflated share prices of AI and technology companies, drawing comparisons with the dot-com bubble of the late 1990s.
Why It Matters: The rise of China in the AI sector and the disruptive innovation by DeepSeek have significant implications for the tech industry. China&#8217;s strategy of integrating low-cost chips into manufactured goods could potentially reshape the AI landscape. 
Furthermore, the success of DeepSeek&#8217;s R1 model raises questions about the viability of&nbsp;massive investments in AI infrastructure&nbsp;by companies. 
The market response to these developments, as evidenced by the drop in Nvidia&#8217;s market cap, indicates the potential for a shift in the tech market dynamics.
Read Next
<a href="https://www.benzinga.com/news/24/12/42257531/heres-how-ray-dalio-thinks-trumps-second-term-could-reshape-the-us-and-the-world" target="_blank" rel="noreferrer noopener">Here&#8217;s How Ray Dalio Thinks Trump&#8217;s Second Term Could Reshape the US and the World</a>
Image: Shutterstock

Tech

NVDA

Ray Dalio Predicts China's Rise in AI: Chinese 'Are a Bit Behind in the Chips, But They're Ahead in the Applications'

President Donald Trump&#8217;s pledge to launch America&#8217;s largest deportation operation could face hurdles and could cost nearly $1 trillion over a decade, immigration experts and former officials warn.
The American Immigration Council estimates that deporting 11 million unauthorized immigrants would require building 216 new detention facilities yearly for more than a decade, each costing $36 million to build and $48 million annually to operate.
&#8220;It&#8217;s going to be impossible for them to achieve the goal that they set out — which is really getting rid of all the illegal immigrants in the United States,&#8221; David Bier, director of immigration studies at the Cato Institute, said to the Financial Times.
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Early enforcement actions show the scale of the challenge. ICE <a href="https://www.benzinga.com/news/25/01/43219483/trumps-immigration-enforcement-raids-begin-in-chicago-gov-pritzker-concerned-innocent-could-be-targeted">arrested 956 people Sunday</a>, the largest single-day total under the new administration. Yet even at the heightened pace, deportations would fall far short of Trump&#8217;s targets.
Immigration facilities already strain under current operations. ICE can detain 41,500 people at once, while border czar Tom Homan says he needs &#8220;at least 100,000 beds&#8221; to meet the administration&#8217;s goals.
&#8220;It&#8217;s not like you just flip a switch and immediately start rounding people up and sending them to the border,&#8221; John Torres, former ICE acting director during the George W. Bush and Obama administrations, said to the Financial Times.&nbsp;
Trending: Nancy Pelosi Invested $5 Million In An AI Company Last Year — <a href="https://www.benzinga.com/money/elf-labs-nancy-pelosi">Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000</a>
Current deportation numbers—271,484 in fiscal 2024—pale against Trump&#8217;s million-plus annual target.
The court system presents another bottleneck. Immigration courts face a 3.6-million-case backlog, up from 656,000 in 2017. Most deportations require court proceedings unless immigrants have existing removal orders.
Private prison companies like GEO Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) and CoreCivic Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) have seen their stock prices surge since the election. CoreCivic CEO Damon Hininger said his company could quadruple its current 10,000-bed capacity within six months, but building and staffing new facilities would strain federal resources.
See Also: <a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a>
Republicans promise $100 billion for border security and enforcement, but experts say it falls far short. Former ICE Chief of Staff Jason Houser said, &#8220;There is no way they have the staff, the money and the resources and the legal authority&#8221; for mass deportations. The plan faces additional resistance from &#8220;sanctuary&#8221; jurisdictions that refuse to cooperate with federal immigration enforcement. While <a href="https://www.benzinga.com/news/25/01/43216758/well-go-as-far-as-im-allowed-trumps-plan-with-immigrants-starts-with-1-million-deportations">Trump threatens to withhold federal funding from those areas</a>, similar attempts during his first term were blocked by courts.
Constitutional hurdles also loom. The administration&#8217;s expanded &#8220;expedited removal&#8221; policy, allowing deportations without court review for those who can&#8217;t prove two years of U.S. residency, already faces legal challenges.&nbsp;
The American Civil Liberties Union calls it a &#8220;cheat code to circumvent due process and the constitution.&#8221;
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<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a> </li>
</ul>

'It's Going To Be Impossible': Experts Doubt Feasibility Of Trump's Deportation Plan — Experts Estimate Nearly $1 Trillion Spend In 10 Years

Arab foreign ministers have reportedly rejected U.S. President Donald Trump&#8217;s suggestion to transfer Palestinians from Gaza to neighboring Egypt and Jordan, calling it a destabilizing<a href="https://www.benzinga.com/25/01/43011383/israel-gaza-ceasefire-hostage-exchange" target="_blank" rel="noreferrer noopener"> move that would threaten peace in the region</a>,
In order to reaffirm their commitment to upholding Palestinians&#8217; rights to their land, ministers from Egypt, Jordan, Saudi Arabia, Qatar, the UAE, the Palestinian Authority, and the Arab League issued a joint statement following a meeting in Cairo, Reuters reports.
The statement condemned any attempts to displace Palestinians or alter the status of Gaza, which they consider an integral part of a future independent Palestinian state.
Trump&#8217;s suggestion came after 15 months of Israeli bombardment that left much of Gaza in ruins and millions homeless.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/25/01/43013312/defense-stocks-fall-on-gaza-ceasefire-while-broader-market-rallies-whats-going-on" rel="noreferrer noopener">Defense Stocks Fall On Gaza Ceasefire While Broader Market Rallies: What&#8217;s Going On?</a>
He had proposed that Egypt and Jordan take in Gazans, a proposal quickly rejected by both countries, as well as by Egypt&#8217;s President Abdel Fattah al-Sisi.
&#8220;Displacement of the Palestinian people from their land is an injustice that we cannot take part in,&#8221; Fattah al-Sisi added, Al Jazeera <a href="https://www.aljazeera.com/news/2025/2/1/arab-ministers-reject-trumps-call-to-displace-palestinians-from-gaza">reports</a>.
Critics argue that the proposal could lead to ethnic cleansing, as it would force Palestinians to leave their homeland.
The Arab foreign ministers also expressed support for Egypt&#8217;s efforts to host an international conference with the United Nations to rebuild Gaza, although no date has been set.
They emphasized the need for a peaceful resolution based on a two-state solution, reaffirming their desire to work with the U.S. administration to achieve lasting peace in the Middle East.
The rejection of Trump&#8217;s idea underscores the deep sensitivities surrounding the fate of Palestinians and the ongoing conflict in Gaza.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42948649/goldman-sachs-warns-of-90-oil-risk-trump-may-not-ease-sanctions-once-he-takes-office" target="_blank" rel="noreferrer noopener">Oil Could Hit $90, Goldman Sachs Says: &#8216;Trump May Not Ease Sanctions&#8217; On Russia</a></li>
</ul>

Equities

Arab Nations Reject Trump's Controversial Gaza Plan: Here's Why

<h2 class="wp-block-heading">Federal Judge Orders $5.9 Billion Fine In Ponzi Scheme Case </h2>
Chief Judge David Godbey of the Dallas federal court on Wednesday ordered Allen Stanford to pay a $5.9 billion civil fine, ending the Securities and Exchange Commission&#8217;s 16-year<a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35615187/sam-bankman-fried-joins-the-list-of-convicted-billionaires-but-who-leads-the-winnerslosers"> lawsuit against Stanford. </a>
Stanford is serving a 110-year prison sentence after being convicted in 2012 of defrauding investors in a $7.6 billion ponzi scheme, according to a Reuters report. Authorities said Stanford operated an Antigua-based financial institution, Stanford International Bank, and sold fraudulent high-yielding certificates of deposit over a 20 year period. 
Read Next: <a href="https://www.benzinga.com/news/earnings/25/01/43400701/ups-ceo-says-amazon-is-our-largest-but-not-our-most-profitable-customer">UPS CEO Says Amazon Is &#8216;Our Largest,&#8217; But &#8216;Not Our Most Profitable Customer&#8217;</a>
Judge Godbey also ordered Stanford Financial Group's former CFO James Davis to pay $17.66 million and its former chief accounting officer Gilberto Lopez to pay $3.42 million related to their roles in the fraud.&nbsp;
<h2 class="wp-block-heading">SEC Chairman Appoints New Staff Members</h2>
The Securities and Exchange Commission on Thursday <a href="https://www.sec.gov/newsroom/press-releases/2025-34">announced </a>Acting Chairman&nbsp;
Mark T. Uyeda has named Natalia Díez Riggin as Senior Advisor and Acting Director of the Office of Legislative and Intergovernmental Affairs.&nbsp;&nbsp;
"I'm thrilled that Natalia has joined us after her tenure working for Chairman Scott on the Senate Banking Committee," Acting Chairman Uyeda said. "Her expertise will help guide us as we focus our efforts at the SEC on capital formation and ensuring companies aren't impeded by ineffective regulation."
Last Saturday, Acting Chairman Uyeda selected several senior staff members to replace recent departures from the SEC.&nbsp;
The SEC senior staff selected by Acting Chairman Uyeda include:
<ul>
<li>Jeffrey Finnell, Acting General Counsel</li>
<li>Robert Fisher, Acting Director of the Division of Economic and Risk Analysis</li>
<li>Kathleen Hutchinson, Acting Director of the Office of International Affairs</li>
<li>Samuel Waldon, Acting Director of the Division of Enforcement</li>
<li>Ryan Wolfe, Acting Chief Accountant </li>
</ul>
"These talented individuals are committed to protecting the investing public, building trust with American companies and market participants, and promoting capital formation," Acting Chairman Uyeda said.
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</ul>
Image: Shutterstock

Legal

Financial Crime Weekly: Judge Orders $5.9 Billion Fine In Ponzi Scheme Case, SEC Chairman Appoints New Staff Members

Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), the AI behemoth that has been in the headlines for its artificial intelligence platform, has been the forerunner in providing data analytics tools to government customers for intelligence gathering,<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43420044/benzinga-bulls-and-bears-nvidia-palantir-rigetti-computing-and-shiba-inu-hints-at-major-partnership" target="_blank" rel="noreferrer noopener"> counterterrorism, and military purposes</a>.
The rise of China&#8217;s DeepSeek, with its open-source AI model and lower development costs, raises the question of how it might impact the future growth of Palantir&#8217;s <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43267966/deepseeks-low-cost-model-reshapes-ai-landscape-experts-predict-shift-to-application-layer" rel="noreferrer noopener">stock in an increasingly competitive market</a>.
CEO Alex Karp recently discussed the growing competition in artificial intelligence from DeepSeek, which has raised apprehensions about the U.S.&#8217;s position in the AI race.
In an <a href="https://www.cnbc.com/2025/01/31/palantir-ceo-says-chinas-deepseek-shows-need-for-all-country-effort.html" target="_blank" rel="noreferrer noopener">interview</a> with CNBC, Karp stressed the urgency for the U.S. to accelerate its AI development in light of these emerging threats. He acknowledged that technology, while beneficial, could be misused, especially in the hands of adversaries, and emphasized the need for a coordinated national effort to safeguard American innovation.
Karp remains optimistic that national security will help protect U.S. advancements from manipulation or theft.
Palantir is set to report its <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">fourth-quarter earnings on Monday</a>. The street view for the adjusted earnings per share stands at 11 cents, while the analyst consensus estimate for revenues is $775.907 million.
DeepSeek, an open-source AI model, recently overtook OpenAI&#8217;s ChatGPT as the top free app on Apple&#8217;s U.S. App Store, shaking the tech world.
Read Also: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43250480/nvidia-sinks-below-200-day-average-for-first-time-in-2-years-deepseek-technical-reset" rel="noreferrer noopener">Nvidia Sinks Below 200-Day Moving Average For First Time In 2 Years As DeepSeek Sparks Historic Technical Reset</a>
This success raised questions about the costs of developing AI models, particularly in comparison to the enormous investments made by tech giants like NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Karp expressed doubt about the reported low cost of DDeepSeek&#8217;sdevelopment, stating that he does not fully believe the estimates surrounding the mmodel&#8217;screation.
Palantir, a company valued at nearly $200 billion, has seen substantial growth, largely due to increasing demand for AI solutions.
Karp credited the ccompany&#8217;ssuccess to the focus on improving U.S. technological capabilities, positioning Palantir as a leader in the AI space.
In addition to discussing AI, Karp also addressed political controversies, offering support for Israel following the October 7 attack and defending Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk against allegations related to political gestures. Karp also took a firm stance on illegal immigration, asserting that individuals who enter the U.S. illegally, particularly those engaged in criminal activity, should not be allowed to stay.
Read now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43254923/7-ai-infrastructure-stocks-plunge-over-20-outpace-semiconductor-rout-as-deepseek-upends-investment-landscape" target="_blank" rel="noreferrer noopener">7 AI Infrastructure Stocks Plunge Over 20%, Outpace Semiconductor Rout As DeepSeek Upends Investment Landscape</a></li>
</ul>
Image: Shutterstock

PLTR

TSLA

Palantir CEO Alex Karp Sounds Alarm on China's Deepseek – Could This Threaten Palantir's AI Dominance?

Elon Musk&#8216;s X has expanded its antitrust lawsuit, incorporating more prominent advertisers into the list of defendants. The lawsuit charges these advertisers with a collective conspiracy to boycott advertising<a href="https://www.benzinga.com/news/24/02/37301290/elon-musk-is-still-attempting-to-defend-hateful-speech-amid-xs-growing-pains-and-public-backlash-rep"> on the platform after Musk&#8217;s takeover</a>.
What Happened:&nbsp;X has now included&nbsp;Nestlé, Abbott Laboratories, Colgate, Lego,&nbsp;Pinterest, Tyson Foods, and Shell&nbsp;in its lawsuit, which was initially filed in August. The lawsuit&nbsp;alleges that members of the&nbsp;now-dissolved&nbsp;Global Alliance for Responsible Media&nbsp;(GARM) unlawfully conspired to withhold billions in advertising revenue from X.
The&nbsp;World Federation of Advertisers (WFA),&nbsp;CVS Health, Mars, Ørsted, and&nbsp;Twitch are also named as&nbsp;defendants in the case. The&nbsp;WFA has previously declared its intention to fight the suit, asserting its compliance with competition law.
As <a href="https://www.businessinsider.com/elon-musk-x-adds-more-advertisers-to-antitrust-lawsuit-2025-2">per </a>Business Insider, the lawsuit&nbsp;claims that at least 18&nbsp;GARM members stopped advertising on Twitter between November and December 2022, following Musk&#8217;s acquisition of the platform. 
Also Read: <a href="https://www.benzinga.com/general/social-media/25/01/42805588/elon-musk-announces-changes-to-x-over-negativity-concerns-too-much-negativity-is-being-pushed">Elon Musk Announces Changes to X Over Negativity Concerns: &#8216;Too Much Negativity Is Being Pushed&#8217;</a>
This boycott allegedly led to X becoming a less competitive entity in the digital advertising space and a decrease in user engagement on its platform.
X is demanding trebled compensatory damages&nbsp;and injunctive relief for what&nbsp;it alleges are breaches&nbsp;of US antitrust laws. The&nbsp;WFA, Diageo, and&nbsp;WPP are also facing a&nbsp;similar lawsuit from video site Rumble.
Why It Matters: The expansion of this lawsuit underscores the ongoing tension between X and major advertisers following Musk&#8217;s takeover. The outcome of this case could have significant implications for the digital advertising industry and competition law. 
If X&#8217;s allegations are proven, it could potentially reshape the dynamics of the digital advertising space and set a precedent for future cases involving alleged anti-competitive behavior.
Read Next
<a href="https://www.benzinga.com/news/24/12/42716098/musk-to-arnault-heres-a-look-at-2024s-billionaire-boom-and-bust-who-gained-and-who-lost" target="_blank" rel="noreferrer noopener">Musk To Arnault: Here's A Look At 2024's Billionaire Boom and Bust, Who Gained and Who Lost</a>

Elon Musk's X Bolsters Antitrust Lawsuit With Additional Advertisers

Tom Brady's exclusive Indian Creek Island mansion is making waves in the Miami real estate scene, with bids reportedly topping $150 million, according to Bloomberg. If the sale goes through, it could shatter Miami's single-family home sale record, previously set at $107 million in 2022 when Ken Griffin purchased a Coconut Grove estate.
The football legend's two-acre estate, which he built from the ground up, is located on <a href="https://www.benzinga.com/real-estate/24/10/41119140/how-indian-creek-village-became-a-fortress-for-the-ultra-wealthy-home-to-50-million-mansions-and-247">Indian Creek Island</a>, often referred to as the "Billionaire Bunker." Brady originally bought the vacant lot for $17 million in 2020 alongside his then-wife, supermodel Gisele Bündchen. Since then, he has designed a sprawling waterfront property featuring a two-story home, a private gym, a cabana and a pool, among other high-end amenities, as reported by property records.
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According to sources familiar with the luxury real estate market, Brady's mansion isn't officially listed but is being quietly shopped to select buyers. Bloomberg's sources revealed that offers exceeding $150 million are already on the table, showcasing just how much demand there is for prime real estate on Indian Creek Island.
<h2 class="wp-block-heading">The Bezos Effect</h2>
Indian Creek has always been a haven for the ultra-wealthy, but property values have skyrocketed in recent years, in part <a href="https://www.benzinga.com/real-estate/24/04/38075377/jeff-bezos-buys-90-million-florida-mansion-to-live-in-while-his-other-newly-purchased-147-million-ho">due to Jeff Bezos</a>. The Amazon founder has spent $230 million acquiring three properties on the island since 2023, boosting its already sky-high real estate profile. According to Bloomberg, a nearby vacant lot purchased for $27.5 million in 2018 is now being <a href="https://www.benzinga.com/news/24/12/42715900/jeff-bezos-neighbor-lists-vacant-miami-lot-for-200-million-after-buying-it-for-just-27-5m">marketed for an eye-popping $200 million</a>.
Luxury broker Ilya Reznik told Business Insider in December that new builds on the island command a premium, with buyers willing to pay enormous sums for modern amenities and exclusivity. &#8220;This is just what&#8217;s going on in Miami,&#8221; Reznik told BI. Brady's estate fits this mold perfectly and could reset the bar for high-end Miami real estate.
Trending: Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a>
<h2 class="wp-block-heading">A Record-Breaking Sale?</h2>
If Brady's property sells for more than $150 million, it would set a record for single-family homes in Miami. The potential sale highlights Indian Creek's growing reputation as one of the most expensive and exclusive communities in the United States.
The human-made island is home to just 40 residences spread across 300 acres, offering unmatched privacy and security. Its single-access bridge is guarded by a dedicated police force, ensuring the utmost discretion for its billionaire residents who include Carl Icahn, <a href="https://www.benzinga.com/real-estate/24/11/41912517/inside-ivankas-24-million-billionaire-bunker-mansion-with-a-15-million-mortgage">Ivanka Trump, Jared Kushner</a> and, of course, Jeff Bezos.
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Tom Brady's Billionaire Bunker Estate Gets $150 Million Offers – Could Break Miami Single-Family Home Sale Record In Part Thanks To Jeff Bezos

Secretary of State <a href="https://www.benzinga.com/topic/marco-rubio" target="_blank" rel="noreferrer noopener">Marco Rubio</a><a href="https://www.benzinga.com/topic/marco-rubio" target="_blank" rel="noreferrer noopener">&#8216;s</a> upcoming visit to Panama is expected to offer crucial insight into the direction of U.S. foreign policy, particularly in Latin America, <a href="https://www.benzinga.com/startups/25/01/43036986/trumps-2-5-billion-power-play-what-seizing-the-panama-canal-would-cost" target="_blank" rel="noreferrer noopener">under the Trump administration</a>.
Amid rising tensions over the Panama Canal, the visit could signal whether U.S. policy will take a more aggressive, imperial approach or a pragmatic, negotiation-focused stance, Reuters reports.
The controversy began when President Trump made threatening remarks regarding Panama&#8217;s control over the canal, raising fears of a potential American invasion. Former Panama President Ernesto Pérez Balladares voiced concerns about the potential for significant casualties and international condemnation if U.S. aggression escalates.
Despite the heightened rhetoric, Trump&#8217;s envoy to Latin America, Mauricio Claver-Carone, appeared to offer a more practical solution by suggesting that Panama might preemptively offer the U.S. Navy and Coast Guard free transit through the canal as a means to avoid further tension, Reuters adds.
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Despite these efforts, there remains significant uncertainty about the future of U.S.-Panama relations.
In private conversations, Panamanian officials have dismissed Trump&#8217;s claims about a Chinese military presence in the canal, emphasizing that transit fees are legally set and apply to all nations.
Panama&#8217;s political elite has made it clear that the canal&#8217;s status is non-negotiable, with President José Raúl Mulino strongly defending Panama&#8217;s sovereignty over the waterway, which was handed over from the U.S. in 1999.
In response to Trump&#8217;s threats, Panama has already taken some conciliatory steps, including increasing audits on the port operations managed by Hong Kong-based CK Hutchison Holdings LTD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CKHUY#OTC">CKHUY</a>), a company involved in the canal&#8217;s operations.
However, these moves have done little to calm the diplomatic storm. While some within the Trump administration suggest that the rhetoric should not be taken literally, others remain firm in asserting U.S. dominance in the region.
As Rubio prepares to visit Panama, there is a glimmer of hope that diplomacy may de-escalate the situation.
The U.S. State Department recently indicated a shift towards fostering a more cooperative relationship with Panama, emphasizing the mutual benefits of a strong partnership rather than attempting to exert unilateral pressure.
Ultimately, Rubio&#8217;s visit will be a critical test of whether the Trump administration can balance aggressive rhetoric with practical diplomacy, ensuring that both U.S. interests and Panamanian sovereignty are respected moving forward.
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CKHUY

Marco Rubio's Panama Visit: Will Trump's Aggressive Rhetoric Lead to War or Diplomacy?

On Jan. 26, <a href="https://www.youtube.com/watch?v=rPso1-N9O9s">Face the Nation </a>host Margaret Brennan grilled Vice President JD Vance on the administration's plans to tackle rising grocery prices. Her question was straightforward: "You campaigned on lowering prices for consumers. Which executive order lowers prices?"
Vance, however, sidestepped specifics, focusing instead on broader goals. "We've done a lot, and there have been a number of executive orders that have already caused jobs to start coming back into our country, which is a core part of lowering prices," he said. But he didn't name a single order targeting grocery costs directly.
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Brennan didn't let up, pushing him on when Americans might see relief, particularly for staples like eggs—an item that became a hot-button issue on the campaign trail. <a href="https://www.benzinga.com/personal-finance/24/10/41250565/trump-and-dave-ramsey-break-down-8-eggs-5-gas-and-7-interest-rates-can-anyone-afford-a-house-in-">Egg prices</a> have been through the roof.&nbsp;
According to the U.S. Bureau of Labor Statistics, they jumped a whopping 36.8% between December 2023 and December 2024. A combination of an ongoing bird flu outbreak and state laws requiring cage-free production has put intense pressure on supplies.
"Prices are going to come down, but it's going to take a little bit of time," Vance assured, adding, "The president has been president for all of five days, and in those five days, he's accomplished more than Joe Biden did in four years."
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Still, many experts say lowering food prices isn't as simple as signing executive orders. Patrick Penfield, a supply chain expert at Syracuse University, told the New York Post that egg prices could climb another 20% this year, possibly reaching $5 a dozen in some areas.
"The avian flu outbreak has been devastating, and complying with cage-free laws adds significant costs," he explained.
Brennan also called out the administration's priorities, noting that most of Trump's recent executive orders haven't focused on the economy. While Vance claimed "many of them were," he didn't back it up with examples.
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Meanwhile, broader inflation trends add to the complexity. Food prices rose by 2.5% overall last year, and the current inflation rate sits at 2.9%, according to the Bureau of Labor Statistics.&nbsp;
While that's within manageable levels, experts like Federal Reserve Chair Jerome Powell warn against aiming for outright deflation, which historically has led to economic crises like the Great Depression.
To make matters trickier, <a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">proposed tariffs on imports</a> from major trading partners like Canada and Mexico could push grocery prices higher. The U.S. imports roughly 15% of its food supply, and new tariffs could make everyday items like beef, tomatoes, and avocados even more expensive, according to Eater.
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Personal Finance

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The crypto market might be in for a surprise as a well-known crypto analyst predicts a significant rally for a competitor of&nbsp;Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).
What Happened: The analyst, known as Inmortal, shared on X platform that the meme coin Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>) is showing a Relative Strength Index (RSI) pattern similar to one that previously resulted in a 200% price surge. 
&#8220;Last&nbsp;time we reached this RSI&nbsp;level we bottomed and pumped&nbsp;200% One of my fav&nbsp;charts right now,&#8221; Inmortal stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Last time we reached this RSI level we bottomed and pumped 200% One of my fav charts right now.<a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> <a href="https://t.co/qyRlm2SLJp">pic.twitter.com/qyRlm2SLJp</a>
&mdash; Inmortal (@inmortalcrypto) <a href="https://twitter.com/inmortalcrypto/status/1884709100640231670?ref_src=twsrc%5Etfw">January 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The RSI is a tool used to determine whether an asset is overbought or oversold. At the time of the report, FLOKI was trading at $0.000144, marking a 13.2% increase in the last 24 hours.
Inmortal also pointed out a change in the altcoin cycle, forecasting multiple altseasons with funds moving in and out of digital assets, as opposed to a simultaneous rise of most tokens. 
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He concluded his analysis by emphasizing the current &#8220;brutal&#8221; market conditions, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) needing only a 5% increase&nbsp;to hit a new all-time&nbsp;high, while many altcoins need a 500% surge to match that.
Why It Matters: The predicted rally for FLOKI is significant as it comes amidst a volatile crypto market. The analyst&#8217;s observation of a shift in the altcoin cycle could indicate a new trend in the crypto market, with funds moving in and out of digital assets rather than a simultaneous surge. 
This could potentially lead to more opportunities for investors to profit from different altcoins at different times. 
Furthermore, the current market conditions, described as &#8220;brutal&#8221; by Inmortal, highlight the potential for significant gains for many altcoins, despite the relatively small increase needed for Bitcoin to reach a new all-time high.
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$DOGE

$FLOKI

$SHIB

DOGE

Analyst Forecasts Mammoth 200% Surge for This Dogecoin and Shiba Inu Competitor

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), owned by Elon Musk, experienced an 8% surge in its stock following an earnings miss, leaving JPMorgan analysts scratching their heads.
What Happened: JPMorgan analyst Ryan Brinkman was left perplexed by Tesla&#8217;s stock performance. Despite a 38% shortfall&nbsp;in earnings before interest and&nbsp;taxes and the lowest profit&nbsp;margin in years, Tesla&#8217;s shares soared.
According to the report <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-outlook-jpmorgan-tsla-earnings-fundamentals-profit-miss-2025-1">by</a> Market Insider, Brinkman offered several theories for the stock&#8217;s rise, including CEO Elon Musk&#8217;s ambitious projections during the earnings call. However, he remained skeptical, maintaining his $135 price target for Tesla, indicating a potential 68% downside from current levels.
&#8220;The move higher in Tesla shares bore no relation whatsoever to the company&#8217;s financial performance in the quarter just completed or to its outlook for growth in the coming year,&#8221; Brinkman told the outlet.
On Wednesday, Tesla reported its first annual&nbsp;sales decline since 2008, with&nbsp;fourth-quarter revenue of $25.7 billion,&nbsp;missing estimates by $1.4 billion,&nbsp;and earnings per share of&nbsp;$0.73, missing estimates by $0.02.
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Brinkman also expressed concern over Tesla&#8217;s&nbsp;guidance for a return to&nbsp;growth in 2025, noting that&nbsp;the company&#8217;s financial performance and&nbsp;analyst price targets seem to be moving in opposite directions.
&#8220;Tesla shares continue to strike&nbsp;us as having become completely&nbsp;divorced from the fundamentals,&#8221; Brinkman concluded.
Why It Matters: The unexpected rally in Tesla&#8217;s stock despite the earnings miss raises questions about the factors driving investor sentiment. While Brinkman&#8217;s analysis points to a disconnect between&nbsp;the company&#8217;s financial performance and&nbsp;its stock price, the market seems to be responding to other factors, possibly including CEO Elon Musk&#8217;s ambitious growth projections.
As Tesla navigates the challenges of missed earnings and a declining sales trend, the market&#8217;s response will continue to be closely watched. 
The divergence between analyst price targets and actual stock performance underscores the complexities of the current investment landscape.
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Why Is Tesla's Stock Rallying Despite Earnings Miss? JPMorgan Analyst Puzzled

January 27 stands as one of the most eye-opening days in recent Wall Street history.
That's when the markets realized Western technology consumers had been lining up to download a low-cost yet advanced AI assistant app called DeepSeek-V3.
See, DeepSeek isn't just another ChatGPT-like AI assistant — it performs just as well as but the Chinese developers behind DeepSeek claim they spent just $5.6 million in semiconductor chips, about one-tenth of the astronomical development costs companies like OpenAI and Meta Platforms have spent on chips for their AI apps.
As markets realized the same AI performance can be achieved with fewer, and slower, chips, the companies supplying the expensive chips, and the companies that have spent billions on AI already, took a beating. But that's just the beginning.
Here are three other stocks that will struggle in this new DeepSeek era.
See, DeepSeek engineers leveraged Nvidia's (NVDA) reduced-capacity H800 graphics processing units (GPUs) to train its AI model, which achieved more robust performance outputs with lower development costs. That's a departure from usual AI model construction, as many US companies used significantly more powerful – and way more expensive &#8211; Nvidia H100 GPUs to get, as DeepSeek claims, more or less the same performance results.
On Wall Street, the market carnage rolled in fast and furious.
On January 27, Nvidia shares plummeted 17%, while competitors like Broadcom (AVGO) fell 17.4% and Marvel Technology (MRVL) face-planted by 19.1%. Chip stocks and the companies using those chips for AI technology development rebounded modestly in the days following the DeepSeek news. By January 30, NVDA was only down 15% for the previous five days, while Broadcom (-10.25%) and Marvel (-12.50%) followed suit.
Still, the damage hasn't been contained, at least while the notion of a cheaper and equally effective way of building AI models lingers.
"DeepSeek AI's entry into the market offers a disruptive combination of high-level capabilities at a fraction of the cost of industry giants like OpenAI," said Mel Morris, CEO at Corpora.ai, a London-based research engine technology firm. "This affordability opens the door for smaller companies and startups to leverage advanced AI technology that was previously inaccessible. Additionally, the open-source model empowers developers to fine-tune and experiment with the system, fostering greater flexibility and innovation." Morris said that the emergence of DeepSeek AI could challenge the current competitive landscape and push major players like OpenAI to adapt quickly. "The idea that competition drives innovation is particularly relevant here, as DeepSeek's presence is likely to spur faster advancements in AI technology, leading to more efficient and accessible solutions to meet the growing demand," he notes.
Even so, DeepSeek and similar companies in the AI development pipeline may not be the tech sector wrecking ball investors think.
"Many people felt the rising tech giants&#8217; capital expenditures would likely lead to a bubble, but instead, DeepSeek&#8217;s breakthrough will likely extend the rally for AI over time," said James Wo, founder and CEO of Digital Finance Group (DFG), a global blockchain and digital asset investment firm with more than $1 billion in assets under management.
Wo says the DeepSeek long-term model sustainability is no guarantee as the company (and others like it) must also keep up with market shifts.
"Relying on a single breakthrough of training efficiency without consistent innovation will cause it to plateau and lose its competitive edge over time," he noted. "Overall, DeepSeek&#8217;s breakthrough may not completely replace high-performant AI systems entirely but rather coexist in a hybrid ecosystem where different tools are optimized for specific use cases."
Three Stocks That May Have a Problem With the Ascent of AI
It's early in the game, and pinpointing stocks that will suffer at the hands of the DeepSeek saga is a tall task, as the technology and financial facts linked to the story are still being sorted out. Based on the idea that DeepSeek represents a more efficient way of building AI models, however, the following stocks would be at risk.
Nvidia. Perhaps the biggest DeepSeek-related concern is for manufacturing companies that depend heavily on high-end AI hardware sales. "Nvidia is the obvious choice here, but others, like AMD and certain semiconductor manufacturers, could also face headwinds if AI-reliant companies shift toward more cost-effective solutions," says Drew Cohen, marketing lead at the cryptocurrency company GME Ethereum
Oracle. Technology billionaires took a big financial hit from the DeepSeek dip, with Oracle's Larry Ellison, who saw his net worth fall by $27.6 billion early last week. (Nvidia CEO Jensen Huang wasn't far behind, with his net worth down by $20.8 billion.)
Oracle's stock value fell by $70 billion in the DeepSeek melee, although ORCL recouped half of those losses by the week's end. The longer-term problem is that Oracles has been investing heavily in data center development to match up with AI heavyweights like Amazon and Microsoft. A cheaper way to develop AI models threatens that model, mainly by curbing the need for pricey data center operations.
Broadcom. Broadcom has emerged as a powerful force in the AI network technology realm. If DeepSeek's impact on AI development sticks, it will hurt chip companies developing AI semiconductors and crimp their share performance. This week, Morgan Stanley cut its target price on AVGO from $265 to $246, citing "deflationary" AI evolutionary innovations and reduced AI spending enthusiasm.
The Takeaway on DeepSeek and Impacted AI and Chip Stocks
Even if DeepSeek doesn't see widespread adoption by enterprises in the US, it represents a tipping point.
"The technology industry is waking up to the fact they don't need to rely on the walled gardens and expensive fees of hyperscalers to access highly-advanced and innovative AI capabilities," said Marc Suidan, chief financial officer at Backblaze (BLZE), a data storage cloud company in San Mateo, Cal.
Up until a few days ago, it was conventional wisdom for most that AI innovation required a massive amount of capital and infrastructure that only multi-trillion dollar tech giants could provide. But that was an illusion, Suidan said.
 "Using concepts and practices of the past that would eventually get chips to be way more productive, or disruptive innovation using open source solutions, DeepSeek mastered the second one, and proved that with limited resources, they can develop a powerful AI solution," he noted.
What if you could pinpoint stocks with massive profit potential like Matador Resources, which soared 2,100% in just two years? Or Photronics, a semiconductor stock that doubled in under a year?
That&#8217;s the power of our new <a href="https://www.benzinga.com/premium/ideas/trade-alerts//?utm_source=WebRD-0203&amp;el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}">‘Benzinga Trade Alerts'</a>.
Photo Courtesy: Mamun_Sheikh On Shutterstock.com

Opinion

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Sell These 3 Stocks Most at Risk From China's AI Innovation

&nbsp;Warren Buffett is <a href="https://www.benzinga.com/personal-finance/25/01/43166526/billionaire-warren-buffetts-first-wife-said-he-cared-about-the-win-not-the-money-its-all-mental-with-him-and-money-is-his-scorecard">known for playing the long game</a>, but as a teenager, he wasn't exactly practicing what he preaches today. Long before he became the Oracle of Omaha, Buffett was just a 16-year-old with a knack for numbers, a rebellious streak and a taste for risk. While other kids were busy memorizing equations, Buffett skipped school to bet on horse races and lost a lot. But what he learned from those missteps? Priceless.
In 1946, Buffett, living in Washington, D.C., while his father was serving in Congress, was already fascinated by probability. He wasn't drawn to gambling for the thrill; instead, he was obsessed with how the odds worked. He convinced his father to borrow every book on horse handicapping from the Library of Congress so he could study them as a future hedge fund manager might pore over balance sheets. But theories on paper didn't always translate to wins on the racetrack.
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Buffett's partner in these horse racing escapades was his high school golf coach, Bob Dwyer, who shared his passion for analyzing tip sheets. Together, they'd sneak off to the Charles Town racetrack in West Virginia. Here, Buffett started experimenting with his early models of assessing value – whether a horse was <a href="https://www.benzinga.com/personal-finance/24/04/38275323/warren-buffett-warns-dont-watch-the-market-closely-urges-not-to-obsessively-check-stock-prices-i">"undervalued" or "overvalued"</a> by the odds. Sometimes, his calculations paid off. Often, they didn't.
On one fateful solo trip, Buffett lost all his money after betting on every race to try and recover his earlier losses – breaking what he'd later call the cardinal sin of gambling. By the end of the day, he was down $175, which in 1946 was the equivalent of more than a week's worth of delivering newspapers (his side hustle). With no way to claw back his losses, Buffett made the only reasonable choice: he treated himself to a giant hot fudge sundae at the Hot Shoppe with the last cash.
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While savoring that sundae, Buffett reflected on his mistakes and came to two realizations that would shape his investment philosophy forever: "Nobody goes home after the first race" – a nod to how gamblers (and investors) keep chasing losses – and "You don't have to make it back the way you lost it." In other words, <a href="https://www.benzinga.com/personal-finance/24/03/37589669/warren-buffett-explains-the-stock-doesnt-know-you-own-it-stocks-cant-love-you-back-and-your-feel">doubling down on a bad hand</a> or investment is rarely the smartest move. He also realized that impatience and emotional decision-making were a recipe for disaster.
Buffett never returned to the racetrack after that day, but those hard-learned lessons stayed with him. The discipline to sit out bad opportunities, the patience to wait for the right ones and the awareness that <a href="https://www.benzinga.com/personal-finance/24/03/37563241/warren-buffett-says-hed-trade-a-significant-percentage-of-his-net-worth-for-some-extra-years-of-">losses are part of the game</a> became pillars of his investment philosophy. Unlike gamblers who bet impulsively, Buffett developed a reputation for waiting for the perfect pitch before swinging – whether that's an undervalued stock or an acquisition opportunity.
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Despite this youthful flirtation with horse betting, Buffett is no fan of gambling. He's called it a "tax on ignorance" in 2007 and criticized it for preying on people who don't understand the odds. For Buffett, it's not about luck but about stacking the deck in your favor with careful planning and informed decisions.
So, while Buffett's days of sneaking off to the races may have been short-lived, the lessons they taught him had a long-lasting impact. Who would've thought that a teenage misadventure involving lost bets and a fudge sundae would help build one of the most successful investing careers ever? Sometimes, the track isn't just a place for horses to run – it's a <a href="https://www.benzinga.com/money/are-you-rich">place where billionaires are made</a>.
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Warren Buffett Skipped School To Bet On Horse Races With His Teacher – He Lost All His Money Then Treated Himself To A Hot Fudge Sundae

<h2 class="wp-block-heading"></h2>
President Donald Trump has said that the U.S. will impose tariffs on a variety of imports including computer chips, pharmaceuticals, steel, <a href="https://www.benzinga.com/news/24/12/42635605/exclusive-eric-trump-predicts-inflation-drop-through-energy-policies-and-spending-cuts">aluminum, copper, oil, and gas</a> starting on Feb. 1.
What Happened: President Trump has declared that the U.S. will impose tariffs on a wide range of imports. These tariffs, which could be implemented as soon as mid-February, will target computer chips, pharmaceuticals, steel, aluminum, copper, oil, and gas.
Trump also indicated his intent to raise&nbsp;tariffs on the European Union,&nbsp;citing their unfair treatment of the U.S., but did not provide specifics on the timeline or the extent of the increase. The European Union has yet to respond to these comments.
These newly announced tariffs are separate from the previously announced 25% tariffs on Canada and Mexico, and 10% tariffs on China, which are set to be implemented on Saturday, <a href="https://www.wsj.com/politics/elections/trump-says-tariffs-are-coming-on-computer-chips-steel-and-more-cef9974c">reports</a> The Wall Street Journal.
Trump dismissed concerns about the potential impact of these tariffs on inflation or global supply chains, stating that any disruption would be temporary and that the tariffs would strengthen the U.S. economy.
Also Read: <a href="https://www.benzinga.com/markets/25/01/43219264/trumps-tariff-plans-ignite-market-rally-pushing-stocks-to-record-highs">Trump&#8217;s Tariff Plans Ignite Market Rally, Pushing Stocks To Record Highs</a>
"I think there could be some temporary, short term disruption and people will understand that. The tariffs are going to make us very rich and very strong," said Trump. 
Leaders in Mexico, Canada, and China, as well as CEOs of American companies, are closely monitoring the situation, particularly regarding potential exemptions for major industries. Trump&#8217;s team is currently&nbsp;in negotiations over how to&nbsp;potentially reduce tariffs on these countries, but&nbsp;Trump may still decide to&nbsp;proceed with a full-scale approach.
White House Press Secretary Karoline Leavitt confirmed that the tariffs on Mexico, Canada, and China were imminent, but declined to comment on potential exemptions or what the trading partners could do to avoid the duties.
Trump&#8217;s announcement led to a negative turn in the stock market, with stocks losing morning gains following Leavitt&#8217;s remarks. Trump stated&nbsp;that there was nothing Canada,&nbsp;Mexico, and China&nbsp;could do to avoid the&nbsp;tariffs before Saturday, but mentioned the possibility of&nbsp;a lower tariff on Canadian&nbsp;crude oil.
Why It Matters: The new tariffs mark a significant escalation in Trump&#8217;s second-term trade wars. The move will likely have a substantial impact on global supply chains and could lead to increased inflation. The tariffs could also strain relations with key trading partners, including the European Union, Canada, Mexico, and China. 
The potential for exemptions for major industries adds another layer of uncertainty to the situation. The impact of these tariffs on the U.S. economy and the global market will be closely watched in the coming weeks.
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Trump May Enforce New Tariffs on Key Sectors Starting Saturday — Chips, Steel Among Potential Targets

President Donald Trump unveiled a $500 billion private-sector AI investment package on his second day in office last week, just as Chinese startup DeepSeek demonstrated it can match U.S. technology at a fraction of the cost.
The &#8220;Stargate&#8221; project, backed by OpenAI&#8217;s Sam Altman, SoftBank&#8217;s Masayoshi Son, and Oracle&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>) Larry Ellison, aims to build massive data centers in Texas over four years. &#8220;This is money that normally would have gone to China,&#8221; Trump said during the announcement.
DeepSeek&#8217;s breakthrough <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/01/43253190/deepseek-ai-etfs-take-a-hard-hit-amid">threatens to upend the AI landscape</a>. The nascent Chinese company&#8217;s latest models match leading U.S. chatbots while using fewer resources, challenging the assumption that AI advances require ever-increasing computing power and investment.
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The timing heightens tensions in the U.S.-China tech rivalry. Trump&#8217;s administration includes China hawks like AI czar David Sacks and Under Secretary of State nominee Jacob Helberg, who each view the AI race as crucial to national security.
Silicon Valley executives hope Trump will loosen domestic regulations while maintaining pressure on China. The president already scrapped Biden-era requirements for AI companies to share information with the government, promising Stargate partners to make development &#8220;as easy as it can be.&#8221;
DeepSeek&#8217;s rise suggests U.S. export controls on advanced semiconductors haven&#8217;t prevented Chinese innovation, according to a report by The Economist. The company&#8217;s mobile app topped U.S. iPhone downloads in January, with investor Marc Andreessen calling it &#8220;AI&#8217;s Sputnik moment.&#8221;
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&#8220;More investment does not necessarily lead to more innovation. Otherwise, large companies would take over all innovation,&#8221; DeepSeek founder Liang Wenfeng told Chinese media, noting U.S. chip restrictions remain his main challenge.
The contrast between Trump&#8217;s massive investment push and DeepSeek&#8217;s efficient approach highlights diverging strategies in the AI race. While U.S. firms bet on overwhelming resources, Chinese companies focus on maximizing limited computing power.
The battle extends beyond raw investment numbers. The Biden administration&#8217;s &#8220;Framework for Artificial Intelligence Diffusion,&#8221; now under Trump&#8217;s review, aims to tighten controls on GPU exports and AI data sharing. Critics, including semiconductor giant Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), argue such restrictions could backfire, pushing allies toward Chinese technology.
Meanwhile, DeepSeek&#8217;s models remain constrained by Chinese censorship, automatically deflecting queries about sensitive topics like the Tiananmen Square protests or President Xi Jinping. The company also faces infrastructure challenges, <a href="https://www.benzinga.com/25/01/43257133/chinese-ai-startup-deepseek-hit-by-cyberattacks-after-toppling-us-giants-like-nvidia-with-new-ai-model-dubbed-as-chatgpt-killer">experiencing outages as user numbers surge</a>.
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'As Easy As It Can Be': Trump Promises AI Giants Support With $500B Investment Plan, How Does It Compare With DeepSeek?

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The Nasdaq ended the week down 1.6%, with the S&amp;P 500 losing 1% and the Dow gaining 0.3%, as markets attempted to recover from earlier losses. 
Strong earnings and a more dovish tone from Fed Chair Jerome Powell helped lift sentiment, reinforcing hopes for future rate cuts. However, by Friday, concerns over new U.S. tariffs on China, Mexico, and Canada weighed on the market, leading to renewed volatility. 
White House press secretary Karoline Leavitt confirmed that the 25% and 10% tariffs would take effect Saturday, raising fears <a href="https://www.benzinga.com/25/01/43404983/stocks-trim-deepseek-losses-fed-holds-steady-trump-slaps-25-tariffs-on-canada-mexico-this-week-in-the-markets">of economic disruptions.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/25/01/43196106/rigetti-computing-quantum-stargate">Rigetti Computing, Quantum Stocks Soar On Project Stargate</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, highlights Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) surging 42% after Donald Trump announced Project Stargate, a $500 billion AI investment initiative backed by Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), OpenAI, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and SoftBank, aiming to build AI data centers and enhance computational systems.
&#8220;<a href="https://www.benzinga.com/25/01/43293760/shiba-inus-shytoshi-kusama-teases-extremely-powerful-partnership-for-ecosystemcoin-themed-on-mysterious-personality-rallies-25">Shiba Inu&#8217;s Shytoshi Kusama Teases &#8216;Extremely Powerful Partnership&#8217; — Coin Themed On Him Rallies 25%</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights Shytoshi Kusama's cryptic announcement of a major partnership for the Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) ecosystem, fueling speculation about potential collaborations with Binance or Elon Musk's X.
&#8220;<a href="https://www.benzinga.com/tech/25/01/43242360/jensen-huang-mania-mirrors-taylor-swift-people-are-camping-outside-retailers-for-nvidia-5000-series-gpus">Jensen Huang Mania Mirrors Taylor Swift: People Are Camping Outside Retailers For Nvidia 5000 Series GPUs</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights soaring demand for Nvidia RTX 5000 series GPUs, with enthusiasts camping outside stores ahead of the Jan. 30 launch, reminiscent of Black Friday rushes for Taylor Swift merchandise.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/general/social-media/25/01/43277294/visa-stock-moves-higher-as-company-becomes-first-partner-of-musks-xmoney-whats-going-on">Visa Stock Moves Higher As Company Becomes First Partner Of Musk&#8217;s XMoney: What&#8217;s Going On?</a>
<a href="https://www.benzinga.com/trading-ideas/movers/25/01/43310673/trump-media-technology-group-stock-jumps-on-expansion-into-financial-services">Trump Media &amp; Technology Group Stock Jumps On Expansion Into Financial Services</a>
<a href="https://www.benzinga.com/25/01/43242497/twilio-set-for-strong-growth-after-key-strategic-shifts-says-analyst">Twilio&#8217;s Turnaround Story Is Underway, Analyst Turns Bullish And Boosts Price Forecast</a>
The Bears
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43267966/deepseeks-low-cost-model-reshapes-ai-landscape-experts-predict-shift-to-application-layer">DeepSeek&#8217;s Low-Cost Model Reshapes AI Landscape: Experts Predict Shift To &#8216;Application Layer&#8217;</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights how DeepSeek&#8217;s R1 model, trained for just $5.6 million, challenges billion-dollar AI investments from U.S. tech giants, with Goldman Sachs warning that AI capital expenditures may shift from infrastructure to applications, impacting firms like Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>).
&#8220;<a href="https://www.benzinga.com/analyst-ratings/downgrades/25/01/43255575/fannie-mae-freddie-mac-stock-a-considerable-risk-say-analysts-who-downgrade-both-to-underperform">Fannie Mae, Freddie Mac Stock A &#8216;Considerable Risk,&#8217; Say Analysts Who Downgrade Both To Underperform</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, reports that analysts downgraded Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>) to Underperform, citing risks despite raising their price targets, as privatization attempts remain uncertain following the stocks&#8217; sharp post-election gains.
&#8220;<a href="https://www.benzinga.com/25/01/43373954/cathie-woods-ark-invest-dumps-over-10-million-worth-of-palantir-stock-as-ai-competition-heats-up">Cathie Wood&#8217;s Ark Invest Dumps Over $10 Million Worth Of Palantir Stock As AI Competition Heats Up</a>,&#8221; by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal">Shivdeep Dhaliwal</a>, reports Ark Invest selling 127,969 shares of Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) worth $10.4 million amid growing AI competition from DeepSeek.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/trading-ideas/technicals/25/01/43238883/stock-of-the-day-nvidia-breaks-support-after-deepseek-ai-disruption">Stock Of The Day: Nvidia Breaks Support After DeepSeek AI Disruption</a>
<a href="https://www.benzinga.com/25/01/43269986/taiwan-semiconductor-bounces-back-after-selloff-risks-remain">Taiwan Semiconductor Stock Rebounds After Selloff, US-Taiwan Chip Partnership Still Faces Tariff Threats</a>
<a href="https://www.benzinga.com/25/01/43287042/amd-downgraded-as-nvidias-arm-cpus-threaten-x86-market-and-long-term-revenue-growth-analyst">AMD Gets A Downgrade And It&#8217;s Not DeepSeek Related</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Nvidia, Palantir, Rigetti Computing And Shiba Inu Hints At Major Partnership

<a href="https://www.benzinga.com/general/24/06/39181971/gen-z-job-applicant-rejects-90-minute-task-ceo-faces-backlash">Job interviews can be stressful</a>, especially when they involve flying across the country and meeting top executives. But one candidate's attempt to make a seemingly harmless request during their interview didn't go as planned. In fact, it ended up costing them the job.
<h2 class="wp-block-heading">The Backstory</h2>
A Reddit user recently <a href="https://www.reddit.com/r/tifu/comments/1i9q51i/tifu_went_in_for_a_job_interview_and_asked_to_eat/">shared</a> their &#8220;Today I F&#x2A;&#x2A;&#x2A;ed Up&#8221; (TIFU) moment on the popular subreddit. They described being flown out for a final <a href="https://www.benzinga.com/news/24/03/37562830/how-to-ace-the-most-important-job-interview-question-of-all-time">in-person interview</a> after impressing the company during a lengthy Zoom call. With the CEO and CFO involved in the process, it was clear the position was significant – and the company was making a major effort to evaluate their fit.
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After a rough flight in which their knees were cramped against the metal of an airplane seat, the candidate arrived at the hotel and rested for the night. The next morning, they began their full-day schedule, which included meeting various team members and going out for a team lunch – a moment that turned out to be critical.
<h2 class="wp-block-heading">The &#8220;Unusual&#8221; Request</h2>
When the CEO asked if there was anything they could do to accommodate the candidate, the individual noticed the lunch outing on the schedule and asked if it could take place in the office instead. Why? The flight had left their knees aching. Despite the request&#8217;s insignificance, the CEO&#8217;s response suggested more serious issues. The candidate claims that the CEO answered, &#8220;I guess,&#8221; and walked out of the room perplexedly.
Later in the day, the CEO returned and gently encouraged the candidate to stick with the original plan and take the team out to lunch, saying, &#8220;I really think you need to take the team out to lunch, it will be good for you to bond.&#8221; The candidate quickly agreed, but the damage had already been done.
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<h2 class="wp-block-heading">The Fallout</h2>
After completing the rest of the interviews, the CFO entered the room and delivered a surprising verdict: &#8220;We appreciate your time, but we're going to pass on you and look at other candidates.&#8221; The candidate was ushered into an Uber and sent home.
When the recruiter followed up the next morning, they explained that the company felt &#8220;offended&#8221; by the lunch request. The CEO and other team members interpreted the move as a lack of willingness to engage with the team – a red flag for someone being considered for a leadership role.
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<h2 class="wp-block-heading">Why Did the Company Take it so Personally?</h2>
For many companies, especially those involving high-level leadership, team lunches are not just meals but part of the interview process. They allow executives and team members to observe how a candidate interacts in a social, less formal setting – a crucial test of interpersonal skills.
The company probably had reservations and a schedule in place. Changing everything last minute may have felt inconsiderate to the team.
The company had already invested significant time and money in flying the candidate out, arranging the schedule, and involving top executives. Asking for an accommodation – however small – on day one might have suggested the candidate would prioritize their own comfort over the needs of the group.
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'My Knees Hurt' – CEO Offended By Job Candidate's Unusual Request During An Interview – Here's Why The Company Took It Personally

Representatives of Elon Musk&#8216;s Department of Government Efficiency have reportedly requested access to the payment systems of the U.S. Department of the Treasury, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43219158/trumps-world-liberty-financial-crypto-venture-amasses-over-388-million-in-digital-assets">sparking concerns among officials</a>.
What Happened: The Washington Post reported on Friday that Musk&#8217;s team is seeking access to the Treasury&#8217;s systems, which are used for a variety of functions.
These include the distribution of&nbsp;Social Security and Medicare benefits,&nbsp;federal employees&#8217; salaries,&nbsp;payments to federal contractors, grants,&nbsp;tax refunds, and more.
The <a href="https://www.washingtonpost.com/business/2025/01/31/elon-musk-treasury-department-payment-systems/">report</a> also highlighted conflicts between Musk&#8217;s representatives and David Lebryk, the highest-ranking career official at the Treasury, who announced his retirement on Friday. The motive behind Musk&#8217;s team&#8217;s demand for access to these systems is not yet clear.
Following his election in November, President Donald Trump appointed Musk to head the &#8220;Department of Government Efficiency,&#8221; a commission aimed at eliminating waste, fraud, and abuse in federal spending. After taking office, Trump signed an executive order directing all federal agencies to provide the panel with &#8220;full and prompt access to all unclassified agency records, software systems, and IT systems.&#8221;
Also Read: <a href="https://www.benzinga.com/markets/25/01/42805331/heres-how-trump-could-wipe-out-40-of-teslas-profits-after-taking-office-according-to-jpmorgan-analyst">Here&#8217;s How Trump Could Wipe Out 40% of Tesla&#8217;s Profits After Taking Office, According To JPMorgan Analyst</a>
Musk, who owns X, has previously stated his desire to enable&nbsp;X users to make payments&nbsp;on the platform, with the goal of transforming X into the &#8220;everything app.&#8221; Earlier this week,&nbsp;it was reported that X&nbsp;will partner with VISA to&nbsp;help achieve this objective.
On the same day, Reuters reported that Musk&#8217;s aides had&nbsp;locked out employees of the&nbsp;Office of Personnel Management from&nbsp;the agency&#8217;s&nbsp;computers, according to two employees&nbsp;who spoke to Reuters.
Why It Matters: The move by Musk&#8217;s representatives to gain access to the Treasury&#8217;s payment systems could have significant implications. 
While the exact reasons for this request are unclear, it comes at a time when Musk is making moves to transform his social media platform, X, into a comprehensive app that includes payment functionalities. 
This development could potentially disrupt the traditional financial system and raise questions about data privacy and security.
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