GameStop Preparing Takeover Offer for eBay — Ryan Cohen Eyes $100B Empire
GameStop is quietly building a stake in eBay shares ahead of a formal acquisition bid, as CEO Ryan Cohen pursues plans to transform the struggling retailer into a $100 billion holding company.
Latest Stories
Sunday, 3 May 2026
GameStop Preparing Takeover Offer for eBay — Ryan Cohen Eyes $100B Empire
GameStop is quietly building a stake in eBay shares ahead of a formal acquisition bid, as CEO Ryan Cohen pursues plans to transform the struggling retailer into a $100 billion holding company.
Big Tech AI Spending Hits $725B in 2026 — On Track to Cross $1 Trillion by 2027
Wall Street analysts now project combined hyperscaler AI capex will exceed $800 billion in 2026 and cross $1 trillion in 2027. Microsoft led with a 61% increase to $190 billion.
Pentagon Signs AI Deals with 8 Tech Giants — Blacklists Anthropic Over Weapons Guardrails
The Pentagon awarded classified AI contracts to OpenAI, Google, Microsoft, AWS, Nvidia, SpaceX, Oracle, and Reflection — excluding Anthropic after it refused to allow Claude for autonomous weapons use.
Apple Smashes Records — $111.2B Revenue as iPhone 17 Demand Goes "Off the Charts"
Apple posted its best March quarter ever with $111.2 billion in revenue (+17% YoY), driven by extraordinary iPhone 17 demand. Services hit an all-time record of $31 billion.
Spirit Airlines Shuts Down — 17,000 Jobs Lost as Budget Carrier Collapses Overnight
Spirit Airlines ceased all operations on May 2, 2026, canceling every flight and leaving 17,000 workers jobless. The budget carrier couldn't survive soaring jet fuel costs amid the Iran conflict.
AI & Tech
Musk vs. Altman Trial Week 1: What Happened
The most-watched AI lawsuit in history completed its first week of testimony in Oakland, California. Elon Musk and Sam Altman were feet apart in a federal courtroom as lawyers clashed over OpenAI's founding mission, its $500B+ valuation, and $130B in alleged "wrongful gains." Judge Gonzalez Rogers is expected to deliver a ruling by mid-May.
Pentagon Signs AI Deals With 7 Tech Giants — Anthropic Notably Excluded
The U.S. Department of Defense signed AI agreements with seven major tech firms — OpenAI, Google, Microsoft, Nvidia, Amazon Web Services, SpaceX, and Reflection — to integrate AI into classified military networks for lawful operational use. Anthropic was excluded, reportedly labeled a supply-chain risk for refusing to remove safety guardrails related to autonomous weapons.
Huawei Eyes $12B AI Chip Revenue as Ascend 950PR Dominates China Market
Huawei expects AI chip revenue to surge 60% to approximately $12 billion in 2026, up from $7.5 billion in 2025, as orders for its Ascend 950PR processor pour in from ByteDance, Alibaba, and Tencent. ByteDance alone committed $5.6 billion. With Nvidia effectively exiting China's advanced AI chip market under U.S. export controls, Huawei is on track to capture 60% of China's domestic AI market.
Business & Markets
Apple Posts Best-Ever March Quarter — $111.2B Revenue, $100B Buyback
Apple reported its best-ever March quarter with $111.2 billion in revenue — up 17% year-over-year — crushing Wall Street's $109.7B estimate. Services hit an all-time record of $30.98B, iPhone revenue surged 22%, and the company authorized a new $100 billion share buyback. EPS of $2.01 beat estimates of $1.95.
Alphabet & Microsoft Crush Q1 2026 Earnings as AI Cloud Boom Accelerates
Alphabet reported $109.9 billion in Q1 2026 revenue — up 22% YoY — with Google Cloud surging 63% to $20.03 billion. Microsoft delivered $82.9 billion, up 18%. Both companies beat estimates decisively as enterprise AI adoption drove cloud spending to record levels, even as OpenAI's revenue stumbles provided a stark contrast.
Indian Startup Funding Falls to $865M in April — But Deep Tech Momentum Builds
Indian startup funding declined to $865 million in April 2026 from elevated Q1 levels, according to Entrackr's monthly funding report. But beneath the headline, a structural shift is underway — deep tech funding is gaining real momentum, anchored by a government policy extending startup status to 20 years and tripling the revenue threshold for benefits. India has raised $6.28B in startup funding in 2026 to date.
Trending Stories
Spirit Airlines Shuts Down — 17,000 Jobs Lost as Budget Carrier Collapses Overnight
Spirit Airlines ceased all operations on May 2, 2026, canceling every flight and leaving 17,000 workers jobless. The budget carrier couldn't survive soaring jet fuel costs amid the Iran conflict.
Big Tech AI Spending Hits $725B in 2026 — On Track to Cross $1 Trillion by 2027
Wall Street analysts now project combined hyperscaler AI capex will exceed $800 billion in 2026 and cross $1 trillion in 2027. Microsoft led with a 61% increase to $190 billion.
Apple Smashes Records — $111.2B Revenue as iPhone 17 Demand Goes "Off the Charts"
Apple posted its best March quarter ever with $111.2 billion in revenue (+17% YoY), driven by extraordinary iPhone 17 demand. Services hit an all-time record of $31 billion.
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