The Rundown Meta Poaches OpenAI Employees, U.S. Dollar Reaches Three-Year Low
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Jun 26, 2025 The podcast dives into the stock market volatility, highlighting NVIDIA's impressive rebound despite trade issues. Meta's audacious poaching of AI talent from OpenAI takes center stage, underscoring the heated competition in tech. The hosts also dissect the U.S. dollar's drop and its repercussions on travel and commerce. Mixed sentiments arise around Jeff Bezos's extravagant wedding in Venice, intertwining personal dramas with economic discussions.
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NVIDIA's Remarkable Stock Comeback
- NVIDIA stock faced major setbacks due to China trade issues and tariffs but has since rallied over 60% from its lows in April.
- The company reached a market cap of $3.7 trillion and is now the world's most valuable company again.
U.S. Dollar Weakness Explained
- The U.S. dollar is at its weakest in three years, down 10% this year, influenced by trade policy uncertainty and Fed leadership doubts.
- Although a weak dollar raises travel costs abroad, it benefits U.S. exporters and tourism.
Meta's AI Talent Poach Drama
- Meta hired three top AI researchers from OpenAI, which surprised many as some of OpenAI's top talent were supposedly not taking Zuckerberg's calls.
- Meta is aggressively pursuing AI talent with huge offers as it aims to win the AI wars.