Motor oil could become the next supply-chain headache as major companies warn that Middle East turmoil is squeezing key ingredients used in synthetic lubricants.
Why it matters: Drivers, repair shops and auto suppliers could soon see higher prices, reduced selection and temporary out-of-stocks for some synthetic motor oils.
Bed Bath & Beyond's comeback is entering its next phase with the opening Saturday of its first co-branded Container Store location in Texas.
Why it matters: The new Bed Bath & Beyond is betting shoppers still have an emotional connection to the brand after its last stores closed in 2023 — and that a smaller co-branded format can succeed where its sprawling big-box stores failed.
We knew the Cerebras IPO would whetpublic market appetite for new AI stocks, ahead of SpaceX next month, but not that it would look more like a nachos platter than an amuse bouche.
Shares opened at $350 — a whopping 89% above its IPO price — and climbed as high as $385 before settling at $311.
For context, it originally filed to price at between $115-$125, and just four months ago sold shares in a Series H round at $89.
Kimmeridge, an energy-focused private equity firm, on Friday announced that its Caturus unit will proceed with construction of its Commonwealth LNG project in Louisiana.
Why it matters: While Commonwealth has been planned for years, the go-ahead arrives as the Iran war is putting fresh focus on gas from outside the Middle East.
The CEOs of Meta, Alphabet, TikTok and Snap have been invited back to Capitol Hill for a broad oversight hearing in June, Axios has learned.
Senate Judiciary Committee Chairman Chuck Grassley is planning a June 23 hearing titled "Examining Tech Industry Practices and the Implications for Users and Families: Is This Social Media's Big Tobacco Moment?" per committee spokesperson Hannah Akey.
The stock market and the bond market are telling different stories about the economy: Bonds fear doom, while stocks see boom.
Why it matters: That's a bit confusing for investors and policymakers looking to these markets to make decisions — or for anyone trying to get a read on (waves hands) everything.
The flood of AI-generated writing unleashed by ChatGPT appears to have leveled off — a sign that AI content hasn't overtaken the web after all.
The big picture: The share of online news articles, blog posts and listicles that are primarily AI-generated has held near 50% for more than a year, according to a new analysis from digital marketing agency Graphite.
Americans across income levels are flocking to cruise vacations despite economic anxiety and broader travel headwinds.
Why it matters:Cruises are one of the travel industry's most resilient sectors — drawing younger travelers and value-conscious consumers even as other parts of the vacation economy show signs of strain.
Attorneys for Elon Musk wrapped up their case against OpenAI on Thursday, asserting in closing arguments that they've proven the AI giant misused the millions of dollars Musk donated and violated their duty to uphold OpenAI's founding ethos.
The other side: OpenAI lawyers countered that Musk's $38 million donations in the early days of OpenAI didn't have specific strings attached and that the organization has continued to pursue its mission, albeit with various changes in structure.
OpenAI and Microsoft are also claiming that the lawsuit was filed too late and that Musk's own misconduct should prevent him from prevailing.
Why it matters: Musk wants Sam Altman ousted as CEO and removed from OpenAI's board, as well as billions of dollars in damages, though he says he would donate any winnings back to OpenAI's nonprofit arm.
Two high-profile doctors are urging policymakers to support autonomous vehicle deployment, arguing the technology is already saving lives and should be a public health imperative.
Why it matters: It adds a public health voice to a broader policy push by the AV industry as state legislation stalls and debate over long-delayed federal regulations heats up in Congress.
Paramount is evaluating a potential distribution deal with Katie Miller as it considers expanding its podcast business beyond creative and more into distribution and monetization, sources told Axios.
Why it matters: More entertainment giants are eyeing podcasts as a way to build up their video intellectual property and find new audiences.
Cerebras Systems, a Silicon Valley-based AI chipmaker, raised $5.6 billion in its IPO.
Why it matters: We knew this would be the year's largest IPO, but it crushed even those high expectations — benefiting from a broader surge in semiconductor stocks.
Jim O'Leary is departing Weber Shandwick to join corporate advisory firm Penta Group as CEO.
Penta co-founder and current CEO Matt McDonald will continue to serve on the firm's board and will work closely with O'Leary as he steps into the role this summer.
Why it matters: O'Leary's departure from a large holding company to a smaller, private equity-backed advisory firm speaks to the shifting PR agency landscape.
Elon Musk's $1 trillion-plus SpaceX isn't a public company yet, but its size and ambitions are already upending the stock market and sparking questions over the power and influence wielded by such behemoths.
Why it matters: The IPO, expected next month, would signal the start of a new AI era for the public markets, potentially valuing SpaceX as much as $2 trillion.
