OpenAI chief executive Sam Altman is walking back on the AI jobs displacement narrative, noting that the tech is not as sophisticated as his previous comments suggested. The News In a new CNBC interview, Altman says that his earlier statement that GPT-4.2 could already outperform humans across 44 occupations is not 100% accurate. According to Altman, the statement was made out of an abundance of caution. “What I wish we had said then is that it outperforms professionals at small tasks in 44 occupations, which is, I think, a more accurate thing. And it is the people who are using…
Author: Henry Kanapi
Henry Kanapi
Henry Kanapi is a journalist and editor covering the intersection of artificial intelligence, financial markets, and technology disruption. He has sourced, written, and edited thousands of stories on crypto, banking, and macroeconomics as Senior Editor at The Daily Hodl, where he helped shape coverage for an audience of over two million monthly readers. At CapitalAI Daily, Henry brings a decade of newsroom experience to fast-paced reporting on AI breakthroughs, market shifts, fraud cases, and regulatory battles. His focus is on accuracy, clarity, and exposing how money moves in the age of artificial intelligence. Henry’s work has been cited by leading financial outlets, investment firms, and research communities tracking the future of markets. He is committed to a high editorial standard rooted in transparency and trust.
The popular document database platform MongoDB (MDB) has surged more than 20% in just one trading session, days after the company released its Q1 fiscal 2027 earnings report. The News On May 28th, MongoDB reported $687.6 million in revenue for the first quarter of fiscal 2027, shattering consensus estimates of $644 million. Meanwhile, the firm posted adjusted earnings per share (EPS) of $1.32 to beat estimates of $1.19. MongoDB president and CEO CJ Desai says the company has the right team in place to move with even greater velocity. “We delivered better-than-expected first quarter results, as our go-to-market teams continue…
Warren Buffett’s Berkshire Hathaway is deploying billions of dollars into Alphabet to support the tech titan’s AI ambitions. The News In a new press release, Google parent Alphabet says it is raising $80 billion to support its AI infrastructure plans amid “unprecedented customer demand” for compute capacity. Alphabet says the offering will consist of concurrent underwritten offerings worth $30 billion, split between $15 billion in depositary shares and $15 billion in class A common stock (GOOGL) and class C common stock (GOOG). Additionally, the firm is running an at-the-market offering program to sell $40 billion worth of GOOGL and GOOG…
Michael Saylor’s Bitcoin treasury company, Strategy, abruptly dumps a portion of its massive BTC stack for the first time since 2022. The News In a new 8-K filing with the U.S. Securities and Exchange Commission (SEC), Strategy discloses that it sold 32 BTC worth $2.5 million between May 26th and May 31st. According to the company, proceeds from the sale will be used to pay the dividends to investors of its preferred shares. During the same period, Strategy also sold 801,994 shares of its common stock (MSTR) worth $128.3 million. Following the news, Bitcoin dropped to $70,678, its lowest level…
Banking giants Morgan Stanley and Bank of America (BofA) are issuing a warning about the AI trade, noting that buying at current levels could have more risk than reward. The News Daniel Skelly, head of market research and strategy at Morgan Stanley Wealth Management, says the AI trade could start losing bullish momentum, similar to a pattern witnessed during the mid-1990s tech cycle, reports The Street. According to Skelly, positions are extremely concentrated in semiconductors, IT hardware and power, or areas that are seen as beneficiaries of the massive AI buildout. Skelly recommends that investors pivot from “buy” to “hold,”…
Fundstrat’s head of research warns that the expected public market listings of SpaceX and Claude creator Anthropic could dampen the stock market’s bullish momentum. The News In a new CNBC interview, Tom Lee says he believes that the S&P 500 could still soar a little higher from its Friday close of 7,580 before buying momentum becomes exhausted. Lee says he sees three converging factors that could trigger a marketwide correction. “Our base case for this year, which we expected to be a challenging year, and it feels like it, is that we’d rally towards 7,300 initially. Now we’re above that.…
JPMorgan Chase CEO Jamie Dimon warns of a looming risk that could derail the US equity market’s ascent to new all-time highs. The News In a new interview at the Reagan National Economic Forum, Dimon says he’s starting to see signs of froth and mania in the stock market as companies like Micron Technology (MU) climb to a $1 trillion valuation, the fastest on record after doubling from $500 billion in just 48 trading days. “I do think the market is exuberant. I’ve seen this before. Of course, exuberance can go on for a long time, and it’s not bad.…
Goldman Sachs says it’s keeping a close watch on one stock group that’s being overshadowed by red-hot semiconductor names. The News In a new episode of the bank’s This Is the Markets podcast, Goldman’s TMT specialist, Peter Callahan, says the Nasdaq’s 20% run over the last three months is being fueled by a narrow group of stocks, with semiconductors doing the heavy lifting. “When you look under the hood, only about half of the stocks in the Nasdaq are even up at all over that stretch. So you have narrow breadth again led by semiconductors, which are up nearly 80%…
The billionaire co-founder of the macro-focused hedge fund Discovery Capital is pouring hundreds of millions of dollars into two AI picks-and-shovels plays. The News Discovery Capital’s latest 13F filing shows that Rob Citrone opened a new position in Sandisk Corporation (SNDK), snapping up 183,700 SNDK shares worth $116.711 million in Q1 of this year. Sandisk is a leading provider of high-speed storage for AI data centers and cloud infrastructure, and Discovery’s largest buy by portfolio percentage and dollar value last quarter. The hedge fund also initiated a fresh stake in ON Semiconductor Corporation (ON) last quarter, gobbling up 1,409,300 ON…
Leopold Aschenbrenner’s Situational Awareness LP has disclosed that it bought billions of dollars in shares of a cloud infrastructure company designed for AI workflows. The News The latest filing from the U.S. Securities and Exchange Commission (SEC) shows that Aschenbrenner bought 12,410,060 shares of Nebius (NBIS), valued at more than $2.581 billion at Thursday’s closing price of $208. Aschenbrenner made his name as an investor for his early calls in Intel (INTC), Bloom Energy (BE), and SanDisk (SNDK). Intel is up a whopping 224% year-to-date, while BE and SNDK have surged 229% and 548%, respectively, over the same time frame.…