Author: Money Mechanics

In a new blog post, OpenAI warns against “unauthorized opportunities to gain exposure to OpenAI through a variety of means,” including special purpose vehicles, known as SPVs. “We urge you to be careful if you are contacted by a firm that purports to have access to OpenAI, including through the sale of an SPV interest with exposure to OpenAI equity,” the company writes. The blog post acknowledges that “not every offer of OpenAI equity […] is problematic” but says firms may be “attempting to circumvent our transfer restrictions.” “If so, the sale will not be recognized and carry no economic…

The Medicare Payment Plan lets you cut up your Part D drug payments and spread them through the entire year.getty 2025 has been a busy year as some of the Inflation Reduction Act initiatives have taken effect. The biggest one is probably the cap on Part D out-of-pocket costs. This year, the most a drug plan enrollee will pay for covered drugs from an in-network pharmacy is $2,000. The other big change, the Medicare Prescription Payment Plan (MPPP) is connected to this cap. Those who reach the threshold can face a big bill at the pharmacy. For instance, one specialty…

Key Takeaways OpenAI runs its AI software on Nvidia’s graphics processing units, or GPUs. Nvidia’s gross profit margins from the industry have been estimated at about 80%, sometimes referred to as the “Nvidia tax.” Google began investing in its own tensor processing units, or TPUs, in 2015, so it doesn’t have to buy hardware from another company. Analysts estimate that Google can operate its TPU capabilities for approximately 20% less than entities that rely on Nvidia GPUs. Artificial intelligence is sweeping the modern world and has already revolutionized how we do business. This technology has opened the door for a…

Key Takeaways Nearly 30% of under-30 job changers cash out their 401(k) and unintentionally erode future retirement wealth as a result. Taxes, penalties, and lost decades of compounding can all make small withdrawals extremely costly. Instead, consider rolling over your 401(k) or slowing contributions to boost take-home pay as smarter alternatives. Changing jobs can be exciting, but for many young workers, it comes with a costly misstep: cashing out their 401(k). According to Vanguard, nearly 30% of workers under 30 take a lump sum from their retirement account when leaving a job. The move can feel like quick access to…

Key Takeaways According to Nuveen, 93% of workers want 401(k) plans to offer lifetime income options, but most don’t.Still, lifetime income can come from sources like Social Security, pensions, annuities, and thoughtfully planned withdrawal strategies using bonds, investments, or income-focused funds.A sustainable withdrawal strategy also involves thinking about spending needs and tax implications, as well as building a reliable income floor. You’ve spent decades building your nest egg, but how do you turn that lump sum into a paycheck that lasts? According to a 2025 Nuveen and TIAA Institute study, nearly all 401(k) participants (93%) say they want retirement plans…

KEY TAKEAWAYS Meta Platforms is reportedly hiring another senior AI executive from Apple for its Meta Superintelligence Labs, where it is moving to freeze headcount.According to Bloomberg, citing people familiar with the matter, the Facebook parent is hiring Frank Chu, who has led Apple AI teams focused on cloud infrastructure, training, and search.Chu is at least the sixth Apple employee working on AI models to defect to Meta, the report said. Meta Platforms (META) is reportedly hiring another senior AI executive from Apple (AAPL) for its Meta Superintelligence Labs division, where it is moving to freeze headcount. According to Bloomberg,…

Key Takeaways Zoom Communications reported second-quarter results that topped estimates as the video conferencing software provider rode the artificial intelligence wave.The company increased the number of customers spending more than $100,000 on Zoom.Zoom raised its full-year profit and sales forecasts. Shares of Zoom Communications (ZM) zoomed more than 8% higher Friday, a day after the provider of video conferencing software posted better-than-expected results and raised its outlook as it benefited from the boom in artificial intelligence. The company reported fiscal 2026 second-quarter adjusted earnings per share of $1.53 on revenue that rose nearly 5% year-over-year to $1.22 billion. Analysts surveyed…

Australia’s public markets have long been regarded as the gold standard for transparent capital raising and efficient price discovery. Underpinned by a robust regulatory framework and supported by world-class financial infrastructure, these markets have served investors and issuers alike with integrity and resilience. Yet, as global capital flows become increasingly mobile and innovation accelerates across financial markets, Australia must evolve to remain competitive.Cboe Australia has submitted a case to the Australian Securities and Investments Commission (ASIC) for regulatory reforms that would enhance competition, resilience and innovation in Australia’s public markets for the benefit of Australia’s investors and its community. These…

Key Takeaways Many Americans said in a new survey that they think moving could improve their lives, but others who said they had moved didn’t make them happier.Nearly all of those surveyed said there was at least one factor holding them back from moving to a more desirable location.Data has shown that moving has become expensive, and more young adults are holding back on moving away from their parents and other milestones. A majority of Americans said in a recent survey that they could be convinced to move to another state or even country, and that they think moving could…

Shares of BJ’s Wholesale Club Holdings (BJ) sank 8% Friday after the member-only warehouse retailer’s second-quarter comparable club sales unexpectedly slipped. The Marlborough, Mass.-based company reported adjusted earnings per share of $1.14 on revenue that increased 3.4% year-over-year to $5.38 billion. Analysts surveyed by Visible Alpha had expected $1.09 and $5.49 billion. BJ’s comparable club sales decreased by 0.3% “due to declining retail prices of fuel,” it said. Analysts had expected comparable club sales to rise about 2.4%. Excluding the impact of gasoline, comparable club sales increased by 2.3%, also below consensus projections. Member count grew to a record 8…