Author: James Harden
Jonathan Raa | Nurphoto | Getty ImagesDebt markets are sending a message to AI data center builders: we’re hiking the interest rate on your credit card and may put some new curbs on your credit limit.That analogy comes courtesy of Jefferies global head of equity strategy, Christopher Wood, who put it in a note on Friday: “The most plausible way the AI capex arms race will end is that the credit card will be taken away.”That isn’t happening yet, but credit markets have been spooked by the new political landscape — seeing more hurdles to data centers under Democratic governors…
A key early investor has sold the last of its Tesla shares and sharply reduced its SpaceX holding, taking profits from two of its most successful long-term bets.Scottish Mortgage Investment Trust, a London-listed closed-end fund managed by Baillie Gifford, said Friday that SpaceX represented 11.1% of its total assets as of Wednesday, down from 15% at Sept. 30. The position helped drive Scottish Mortgage’s 31.5% net asset value return in the six months to the end of September. In its half-year results statement, Scottish Mortgage also said it sold its remaining Tesla stake in April, ending an investment that dated back…
Amid a powerful rout in tech stocks, investors told CNBC on Thursday that something may be fundamentally breaking in the AI trade following the big success of Democrats in Tuesday’s midterm elections and the threat they try to slow the data center buildout.Democrats are more aggressively anti-data center than Republicans, and Wall Street is quickly redoing its math what any restrictions they implement could mean for the related companies’ future growth.”Right now, investors are questioning that $1.2 trillion of capex that we forecast for next year,” Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, told CNBC. “Well,…
Moonshot AI, a Chinese artificial intelligence lab that the White House accused of accessing Nvidia advanced chips remotely in East Asia, has sought access to the chips through data centers in Europe, sources have told CNBC.Deals have been discussed this year for Moonshot to rent capacity from neoclouds hosting Nvidia graphics processing units, or GPUs, at facilities in Europe, four people familiar with the matter said. They asked not to be named because they were discussing private information.Nvidia’s effective monopoly over the most powerful chips has made U.S. export controls a key tool in Washington’s effort to preserve its advantage…
Flights across Europe were targeted by “hoax” bomb threats on Thursday for the second time this week, disrupting air travel across London, Dublin, and Helsinki, among others. At least 27 different flights were impacted, according to Reuters, with some forced to land unexpectedly and others escorted by fighter jets. Aer Lingus, Finnair, Wizz Air and Polish airline LOT confirmed to CNBC that some of their flights were affected. It comes after seven passenger planes across Europe, two departing from the U.K., were targeted by suspected bomb threats on Tuesday and were described as “malicious hoax threats” by the U.K. government.…
The rising sun illuminates the sky behind the US Capitol building in Washington, DC, on November 2, 2026.Jemal Countess | Afp | Getty ImagesDemocrats’ sweep of Congress likely resets the political calculus for crypto, ushering in a more adversarial approach in Washington and pushing industry-friendly legislation like the Clarity Act to the back burner. With crypto critics like Sherrod Brown (D-Ohio) returning to the Senate and Sen. Elizabeth Warren (D-Mass) retaining significant influence over financial policy, analysts say the new Congress is likely to focus on scrutinizing President Donald Trump’s personal crypto dealings over supportive industry legislation. For years, crypto…
French right wing party Les Republicains MP Philippe Juvin speaks during a session at The National Assembly for the first-reading review of the 2027 state budget bill in Paris on Nov. 4, 2026.Ludovic Marin | Afp | Getty ImagesFrench lawmakers rejected the government’s cost-cutting budget on Wednesday evening, as the country’s finances fuel widespread protests and worry bond markets.Politicians in the National Assembly — the lower house of France’s parliament — voted unanimously against adopting 2027 budget plans drafted by Prime Minister Sebastien Lecornu’s government. The government is trying to appease France’s creditors — traders in its bonds — by…
Bottles of Spanish olive oil are displayed for sale at a Carrefour supermarket in Spain.Sopa Images | Lightrocket | Getty ImagesShares of Deoleo, the world’s largest olive oil company, plummeted Thursday after two rivals announced plans to acquire the company, a deal that would further consolidate Spain’s dominance in the sector. Spanish olive oil firms Dcoop and Acesur will each hold a 50% stake in the company, resulting in a new olive oil giant in the region. The deal is intended to boost olive oil consumption worldwide and support farmers in creating value through the supply chain, Dcoop said in…
German defense giant Rheinmetall cut its full-year guidance late Wednesday, citing delays to military contracts and ammunition deliveries.It marks the company’s second outlook cut since August, when Germany scrapped plans to build warships in what would have been Rheinmetall’s biggest order since World War II. The defense company now expects sales to rise to around 13.2 billion euros ($14.9 billion) in 2026, down from a prior outlook range of between 13.7 billion and 14.2 billion euros. It is expected to have an operating margin of around 18.5%, down from the previously expected 19%.Rheinmetall said it’s revising its 2026 guidance due…
Close up of the hands of a nurse from the French Blood Establishment holding blood collection tubes intended to receive blood samples during a plasma donation session at the Maison du Don in Saint Brieuc Cotes d Armor Brittany France on July 28, 2026. Helene Rigny | Afp | Getty ImagesFrench blood banks were on Monday affected by the recent wave of cybersecurity attacks on European refrigeration systems, the French Blood Establishment confirmed on Wednesday.The organization said that while it wasn’t the direct target of the attack, cold storage units operated by external providers containing the EFS’ blood products were…