Nancy Pelosi Earns Over $2,500,000 from Nvidia Trade
Nancy Pelosi has already made a profit of over $2,500,000 from her deal with Nvidia. She bought shares right before they began to rise sharply, earning a 110% return since the purchase. This profit is equivalent to 14 of her annual salaries.
Elon Musk's xAI valued at $24 billion after fresh funding
(Reuters) -Elon Musk's AI startup xAI raised $6 billion in series B funding, reaching a post-money valuation of $24 billion as investors bet big on challengers to companies like OpenAI in the intensifying AI race.
The funding round was backed by investors including Andreessen Horowitz and Sequoia Capital, the company said in a blog post on Sunday.
The company's pre-money valuation was $18 billion, Musk said in a post on X.
The money will be used to take xAI's first products to market, build advanced infrastructure and accelerate research and development of future technologies, xAI said.
"There will be more to announce in the coming weeks," Musk said in another X post, in response to the announcement of the funding.
Companies like Microsoft (NASDAQ:MSFT) backed OpenAI and Alphabet (NASDAQ:GOOGL)'s are among those leading the fierce race for generative AI dominance, driving significant investments and innovation in the rapidly evolving landscape.
Market and Elections: How the S&P 500 Index Has Performed in Election Years
Over the past nearly 100 years (from 1928 to 2016), the S&P 500 index has shown an average growth of 11.28% in election years. Here's a breakdown based on which party won:
Republican victories: On average, the S&P 500 grew by 15.3%. Democratic victories: The index saw an average growth of 7.6%.
Notably, the year 2020 is not included in the table, but it ended with approximately 16% growth.
Current Year Performance: As of now, in this election year, the S&P 500 has increased by about 10.8%.