The Magnificent 7 has fallen into correction territory amid fears of escalating tensions in the Middle East and AI disruption. Data shows that the Roundhill Magnificent 7 ETF (MAGS), which provides an equal-weight exposure to Mag 7 names, is now in correction mode after dropping 10% this year, from its 2026 opening price of $66.50 to its current value of $59.94. Among the Mag 7 names, Microsoft (MSFT) is the biggest loser so far, dropping 18.34% from $484.38 at the start of the year to $395.55. Elon Musk’s Tesla (TSLA) follows suit, falling 14.55% from $457.8 to $391.2 as of…
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.
Elon Musk says xAI’s days of being behind in performance are numbered as the company makes two key hires to boost its coding ambitions. In a new post on X, Musk says xAI is behind its competitors in coding because the company’s original setup and structure were not designed to support his objectives, including using AI to power robots and a mass driver on the Moon. “xAI was not built right the first time around, so it is being rebuilt from the foundations up. The same thing happened with Tesla.” Musk believes that it’s only a matter of months before…
White House AI Czar David Sacks is urging the Trump administration to take a victory lap and get out of Iran. In a new episode of the All-In podcast, Sacks says the US has done enough damage that it’s time to seriously think about de-escalating the situation in the Middle East. “We’ve degraded Iranian capabilities massively: their army, Navy, Air Force have all been destroyed. This is a good time to declare victory and get out. And that is clearly what the markets would like to see.” But according to Sacks, he’s hearing whispers that some people in the government,…
A former Goldman Sachs chief executive warns that soaring oil prices could trigger rising inflation and low economic growth. In a new PBS interview, Lloyd Blankfein warns that he sees a “very, very bad situation” emerging once oil hits $130 a barrel. According to the former Goldman executive, rising oil prices could make goods and services much more expensive while stifling economic growth. “Well, it raises very difficult questions for people because something like that is just all bad all around. Because higher oil prices, when it seeps into the supply chain, are inflationary on the one hand, and kind…
Billionaire venture capitalist Chamath Palihapitiya says America’s AI industry is having a perception problem as leaders send mixed messages to the public. Earlier this week, NBC released a survey that shows Immigration and Customs Enforcement (ICE) is more popular than AI among American adults. ICE holds a 38% positive view, while AI is near the bottom of the rankings at just 26% favorability. Palihapitiya says AI is experiencing a big PR problem because leaders are not coherent in their messaging, as CEOs push their own agendas to raise funds and generate revenue. The billionaire notes that Anthropic’s Dario Amodei talks…
Tech titan Meta is reportedly planning a massive reduction in its headcount to offset the hundreds of billions of dollars in projected AI investments. Three sources familiar with the matter say Meta is looking at making sweeping layoffs that could impact 20% of its 79,000-strong workforce or 15,800 employees, Reuters reports. The sources say the firm is banking on AI to drive greater efficiency as Meta plans to spend $600 billion on data center construction by 2028. Last month, the company announced its AI CapEx guidance to the tune of $122 billion. According to the sources, the date and the…
Software company Adobe is preparing to shell out tens of millions of dollars to settle allegations involving its subscription practices. The U.S. Department of Justice says Adobe has agreed to a $150 million settlement to resolve accusations that it violated the Restore Online Shoppers’ Confidence Act (ROSCA), which requires firms that offer online subscriptions to clearly disclose important subscription information and to provide subscribers with simple ways to cancel. According to court documents filed with the U.S. District Court for the Northern District of California, Adobe allegedly used “fine print and inconspicuous hyperlinks” to conceal important details about its subscription plans,…
The chief executive of a cloud-based enterprise software platform warns that unemployment among college graduates could surge more than 200% as AI agents proliferate. In a new Squawk Street interview, Bill McDermott says that AI agents are now more than capable of performing tasks that college graduates do for companies. “Well, I think it’s very natural to be concerned about jobs. I think young people coming out of university today is like 9% unemployment. I think it could easily go into the mid-30s in the next couple of years. Because what’s happening now is for the non-differentiating roles, so much…
xAI CEO and founder Elon Musk says he’s comfortable in predicting that AI and robotics will trigger massive economic growth in just a decade. In an interview with Peter Diamandis at the Abundance Summit 2026, Musk says AI models are becoming less reliant on humans en route toward recursive self-improvement. In AI, recursive self-improvement is the process by which a model iteratively redesigns, updates, or improves its own code and architecture without human intervention. According to Musk, it’s only a matter of months before humans are taken out of the loop. “Humans are gradually getting less and less in the…
The chief investment strategist at Bank of America Merrill Lynch Global Research warns that today’s market conditions are reviving ghosts of the pre-2008 Global Financial Crisis. In a new investment note, BofA’s Michael Hartnett warns that oil rallied to as high as $140 per barrel in August 2008 from just $70 in July 2007, reports Bloomberg. According to Hartnett, Wall Street is “ominously trading ‘07-’08 analog.” “Asset performance in 2026 is more ominously close to price action seen from mid’07 to mid’08.” At time of publishing, oil is trading at $98.83 a barrel, up over 71% from its 2026 opening…