Prada is set to create spacesuits for NASA, with a remarkable price tag attached.
In financial news, the Nasdaq composite rose by 1.5%, adding 277 points on Monday afternoon, following President Joe Biden’s exit from the presidential race and his endorsement of Vice President Kamala Harris. The Dow Jones Industrial Average and the S&P 500 experienced increases of 0.3% and 1.1%, respectively.
The crypto-based betting platform Polymarket is backing Harris as the Democratic nominee for president, while New Zealand’s PredictIt forecasts that she will be the 47th president of the United States.
Nvidia’s stock climbed by 4% in the afternoon as Reuters reported that the tech firm is developing a version of its new Blackwell AI chips aimed at the Chinese market. Nvidia is working with local distributor Inspur to launch this chip, labeled “B20,” which is anticipated to start shipping in the second quarter of 2025. Nvidia chose not to comment on the report.
Tesla shares jumped nearly 5% a day before the company’s earnings report, with Elon Musk expected to discuss the delayed launch of the robotaxi. Musk indicated on social media that Tesla would have humanoid robots in limited production for internal use next year and plans to scale production for other companies by 2026.
Meanwhile, CrowdStrike, the cybersecurity firm tied to a recent global tech outage, is still dealing with the consequences of the incident, although recovery efforts are underway. The company reported that many of the affected Windows devices are coming back online. However, CrowdStrike’s stock saw a decline of over 13% on Monday, trading at approximately $263.
Verizon experienced a nearly 6% drop in shares after its quarterly earnings report showed the company missed revenue expectations due to customers holding onto their phones longer, which impacted upgrade rates. Verizon’s second-quarter revenue was recorded at $32.8 billion, just shy of the average analyst estimate of $33.06 billion, and its earnings per share remained steady at $1.15.