Character.AI is going social, adding an interactive feed to its mobile apps.
Rolled out on Monday, the new social feed may initially look similar to traditional social media platforms. But rather than liking friends’ holiday photos or commenting on influencers posts, users interact with user-generated characters, from computer game avatars to Elon Musk and Harry Potter.
The new feed is the front door to the app and a great way for users to discover new creators, characters, and content, Character.AI CEO Karandeep Anand tells Fast Company. Unlike traditional social feeds, users dont just watch creator contentthey actively participate. They can customize, adapt, and build on what they see, making the experience uniquely their own.
Instead of passively scrolling, users are encouraged to become active cocreators. They can rewrite narratives, insert themselves into storylines, or shift characters from scenes to streams. Our goal with the feed is not to push purely AI-generated content like some other platforms, Anand added. Instead, its to showcase and encourage human creativity with the help of AI.
Character.AI users can post Chat Snippets, which capture parts of conversations with AI chatbots, stream character debates, or share custom Character Cards that preview specific characters. We have a really engaged community of creators who are building fun content of all kinds with these new features, said Anand. For consumers, the feed unlocks the more immersive experience theyve been looking for.
Paying subscribers with access to Character.AIs new video generation feature, Avatar FX, can also post short AI-generated videos of any character on the platform, along with AI-generated images based on their chats.
Character.AI already boasts over 100 million characters in its library. With users spending more than 2 billion minutes per month chatting with virtual personalities, the shift toward a more social and public experience raises safety concerns, especially given the scrutiny the platform has faced.
Our goal is to provide an engaging space that fosters creativity while maintaining a safe environment for all, Anand says. Along with our general text and video classifiers, the community feed will be moderated by our trust and safety team in addition to community moderation. Users are also able to hide and flag inappropriate content if needed.
Novo Nordisk cautioned on Wednesday that it expects continued competition this year from copycat versions of its Wegovy obesity drug, as it battled pressure from compounding pharmacies in the United States and rival Eli Lilly.
The Danish drugmaker, which became Europe’s most valuable company worth $650 billion last year on sales of its blockbuster weight-loss drug, is facing a pivotal moment as Wegovy loses market share, especially in the U.S.
Last week, competition from compounders who make copycat medicines based on the same ingredients as Wegovy prompted the company to cut its full-year sales and profit outlook. That took investors by surprise and wiped $95 billion off Novo’s market value.
On a media call on Wednesday, outgoing CEO Lars Fruergaard Jorgensen said the copycat market has “equal size to our business” and compounded versions of Wegovy were sold at a “much lower price point.”
In May, the company said it expected many of the roughly one million U.S. patients using compounded GLP-1 drugs to switch to branded treatments after a U.S. Food and Drug Administration (FDA) ban on compounded copies of Wegovy took effect on May 22, and it expected compounding to wind down in the third quarter.
However, CFO Karsten Munk Knudsen said on Wednesday that more than one million U.S. patients were still using compounded GLP-1s and that Novo’s lowered outlook has “not assumed a reduction in compounding” this year.
ENCOURAGING PRESCRIPTION DATA
Knudsen reiterated that the company was pursuing multiple strategies, including lawsuits against compounding pharmacies, to halt unlawful mass compounding of its blockbuster medicine.
Jorgensen said the company was encouraged by the latest U.S. prescription data for Wegovy. While Novos weight-loss drug was overtaken earlier this year by rival Lillys Zepbound in terms of U.S. prescriptions, that lead has narrowed in the past month.
Second-quarter sales of Wegovy rose by 36% in the U.S and more than quadrupled in markets outside the U.S. compared to a year ago, Novo said.
Barclays analysts said in a note that while Wegovy’s U.S. pricing held steady in the second quarter, the company expects deeper erosion in the key U.S. market in the second half, due to a greater portion of sales expected from the direct-to-consumer or cash-pay channel, as well as higher rebates and discounts to insurers.
Knudsen said it is expanding its U.S. direct-to-consumer platform, NovoCare, launched in March, and may need to pursue similar cash sales directly to patients, outside of insurance channels, in some markets outside the U.S.
COST CUTS
The company reiterated its full-year earnings expectations on Wednesday after last week’s profit warning reduced its 2025 sales outlook, and named veteran insider Maziar Mike Doustdar to take over from Jorgensen on Thursday.
Jorgensen said Novo was acting to “ensure efficiencies in our cost base” as the company announced on Wednesday it would terminate eight R&D projects. Doustdar said last week the company will pursue “savings and efficiencies.”
“There seems to be a larger R&D clean-out than usual, but we do not know if this reflects a strategic re-assessment or just a coincidence,” analysts at Jefferies said in a note.
Investors have questioned whether Novo Nordisk can stay competitive in the booming weight-loss drug market. Several equity analysts have cut their price targets and recommendation on the stock since last week.
Shares in Novo plunged 30% last week their worst weekly performance in over two decades and were down 1.8% in morning trading on Wednesday.
Sales rose 18% in the quarter to 76.86 billion Danish crowns ($11.92 billion), below analysts’ initial expectations.
Jacob Gronholt-Pedersen and Maggie Fick, Reuters
Between rising prices and dwindling job growth, using “buy now, pay later” on everything from concert tickets to fast food deliveries is becoming increasingly appealing. But greater use could also mean greater trouble, as more people fall behind on repaying these loans.Buy now, pay later loans gained popularity during the pandemic, especially among young people. While these loans can help you make large purchases without paying interest or undergoing a hard inquiry in your credit report, they can also easily be overused.About 4 in 10 Americans under the age of 45 say they’ve used “buy now, pay later” services when spending on entertainment or restaurant meals, or when paying for essentials like groceries or medical care, according to a poll from The Associated Press-NORC Center for Public Affairs Research.Buy now, pay later loans were not previously reported to the three major credit reporting bureaus. But consumers will soon see the impact of buy now, pay later loans on their FICO credit scores.Whether you’re a first-time or recurring user of buy now, pay later plans, here are some expert recommendations to use this tool responsibly.
Focus on needs vs. wants
Buy now, pay later plans divide purchases in monthly installments, typically in four payments. These loans are marketed as having low or no interest. Klarna, Afterpay, PayPal and Affirm are among the most popular buy now, pay later companies.These loans should ideally be used for large purchases or necessities, said Lauren Bringle, Accredited Financial Counselor at Self Financial.Bringle recommends asking yourself these questions before purchasing: Can I survive without this purchase right now? Do I need it for work, school, or a basic household need?Buy now, pay later is best used when you have a plan for the purchase, not for impulse buys. For example, when you need to buy a computer for school or a new refrigerator for your house, recommended Tyler Horn, head of planning at Origin, a budgeting app.
Pause before purchasing
Before deciding to take out a buy now, pay later loan, it’s a good idea to pause and consider if it’s the best financial decision for you, recommended Erika Rasure, Chief Financial Wellness advisor for Beyond Finance.Buy now, pay later plans can be positive budgeting tools when used strategically. However, it’s essential you know your spending behaviors before using them, said Rasure. If you’re an emotional spender, it might be hard for you to moderate your use of this tool and you could end up adding to your financial stress.“Buy now, pay later can become a coping mechanism rather than a financial tool that can get you a good deal or improve your cash flow,” said Rasure.If you have other payments due, such as credit card or student loan payments, consider how a buy now, pay later loan will add to your monthly payments, recommended Sarah Rathner, Senior Writer for NerdWallet.
Read the fine print
Like credit cards, each buy now, pay later loan has terms and conditions that can vary by purchase and providers. It’s crucial that you know what you’re agreeing to before you sign up, recommended Michael Savino, Chief Lending Officer at Municipal Credit Union.“Always read the fine print. Understand fees, repayment schedules, and what happens if you miss a payment or go into default,” said Savino.In general, if you miss a buy now, pay later payment, you can face fees, interest, or the possibility of being banned from using the services in the future.
Avoid stacking BNPL loans
You can easily run into difficulty keeping up with the cost and schedule of your repayments if you’re trying to simultaneously pay off two, three or more loans, Savino said.“Juggling multiple plans creates a blind spot and overall debt load, and multiple repayment dates are hard to manage,” Savino said. “So more loans makes it more difficult to budget.”The best approach: Stay mindful of your overall spending, and limit the number of buy now, pay later loans.
Keep track of your loan(s)
Whether or not you’re paying for multiple buy now, pay later purchases at once, you want to be aware of where your money is going at any given time, recommended Courtney Alev, consumer advocate at Credit Karma.“Buy now, pay later often requires automatic payments, so you want to make sure that your account is funded so that those payments are processing successfully,” recommended Jennifer Seitz, director of education at Greenlight, a financial literacy app for families.There are many ways to track your loan payments from setting a reminder on your calendar, to creating an intricate excel spreadsheet or tracking them on an app, said Jesse Mecham, founder of the budgeting app YNAB.Finding the best method that works for you will help you stay on track and avoid late fees.
Make buy now, pay later work for you
For shoppers with low credit scores or no credit history, buy now, pay later loans can seem like the best, if not the only, loan option. If used moderately and responsibly, these short-term loans can be a positive lending exercise, said Savino.“It allows you to to establish a baseline (and) get access to other affordable credit options that you can leverage that will ultimately provide financial wellness,” he added.Still, NerdWallet’s Rathner emphasized that shoppers using these tools always remember that buy now, pay later is a form of borrowing money.“It just kind of feels like you’re given a little extra time to pay back,” Rathner said. “But the reality is, if you miss payments, it can hurt your credit, much like missing payments with any other loan.”The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.
Adriana Morga and Luena Rodriguez-Feo Vileira, Associated Press
Claires, the fashion and accessories retailer that has been a staple of American malls for decades, has filed for Chapter 11 bankruptcy protection for a second time.
The retail chain, aimed at the teen and tween market, has been struggling with the same headwinds faced by many brick-and-mortar businesses, including the broader shift to online shopping, increased competition, rising prices, and an unsustainable debt load.
In a press release on Wednesday, parent company Claire’s Holdings LLC said it will use the Chapter 11 process to “maximize the value” of its business. That includes exploring a potential sale.
“We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives,” Claire’s CEO Chris Cramer said in a statement.
Which Claire’s stores are closing?
While Claire’s said its North American stores will remain open as part of the Chapter 11 process, it’s likely that many will not survive as the company reviews its physical footprint and assesses which locations may be underperforming.
In fact, in a bankruptcy court filing, Claire’s says it has already reviewed its lease portfolio and decided that some stores “should be exited.”
The filing identifies 18 locations across numerous states that will almost certainly begin store closing sales soon, if they haven’t already:
Market Street at Lynnfield Claire’s Lynnfield Massachusetts
Woodinville Plaza Claire’s Woodinville Washington
Galleria at Tyler-ICG Icing Riverside California
Provo Town Center Claire’s Provo Utah
Newpark Mall Claire’s Newark California
Shops at Highland Village Claire’s Highland Village Texas
Mall of Abilene (ICG) Icing Abilene Texas
8456 Greece Ridge (ICG) Icing Rochester New York
Pinnacle at Turkey Creek Claire’s Knoxville Tennessee
Union Town Mall Claire’s UnionTown Pennsylvania
Ford City Mall Claire’s Chicago Illinois
Northtown Mall Claire’s Blaine Minnesota
Bay City Town Center Claire’s Bay City Michigan
Eastdale Mall Claire’s Montgomery Alabama
Junction Commons Claire’s Park City Utah
University Orem (ICG) Icing Orem Utah
Woodland Mall (ICG) Icing Grand Rapids Michigan
Livingston Mall Claire’s Livingston New Jersey
Closing sales were expected to begin as early as July 25 and conclude no later than September 7.
Claire’s says it has retained Hilco Merchant Resources to act as its liquidation agent to facilitate the store closings.
The filing also identifies additional stores that are expected to be added to the closing list as part of Claire’s agreement. The list includes 1,326 locations that could be closed by October 31 unless Claire’s is unable to find a buyer.
Reached for comment, a spokesperson for Claire’s referred Fast Company to Wednesday’s press release but did not comment on a more specific timeline for store closures or whether additional stores will be added to the list.
This story is developing…
In China, wait times for U.S. visa interviews are so long that some students have given up. Universities in Hong Kong are fielding transfer inquiries from foreign students in the U.S., and international applications for British undergraduate programs have surged.President Donald Trump’s administration has been pressuring U.S. colleges to reduce their dependence on international enrollment while adding new layers of scrutiny for foreign students as part of its crackdown on immigration.The U.S. government has sought to deport foreign students for participating in pro-Palestinian activism. In the spring, it abruptly revoked the legal status of thousands of international students, including some whose only brush with law enforcement was a traffic ticket. After reversing course, the government paused new appointments for student visas while rolling out a process for screening applicants’ social media accounts.The U.S. remains the first choice for many international students, but institutions elsewhere are recognizing opportunity in the upheaval, and applicants are considering destinations they might have otherwise overlooked. The impact on U.S. universities and the nation’s economy may be significant.New international enrollment in the U.S. could drop by 30% to 40% this fall, according to an analysis of visa and enrollment data by NAFSA, an agency that promotes international education.That would deprive the U.S. economy of $7 billion in spending, according to the analysis. Many international students pay full price, so their absence would also hurt college budgets.
Britain stands to gain as the US takes ‘a massive hit’
As the second most popular destination for international students, Britain is positioned to benefit.The country’s new Labour government has vowed to cut migration, and officials have imposed time limits on post-study visas allowing graduates to stay and work. But admissions consultants say the United Kingdom is still seen as the most welcoming of the traditional “big four” English-speaking destinations in higher education the U.S., U.K., Canada and Australia.After declining last year, the number of international applications for undergraduate study in the U.K. this fall grew by 2.2%, official figures show. A record number of applications came from China, up 10% compared with the previous year. Applications from the U.S. also reached nearly 8,000 students an increase of 14% and a 20-year high.Acceptances of international students for graduate programs in the U.K. grew an estimated 10% from last year, driven by demand for business and management courses in particular, according to data from UniQuest, which works with many British universities on admissions.Data showing the extent of any impact will not be available until fall, said Mike Henniger, CEO of Illume Student Advisory Services, a consultancy that works with colleges in the U.S., Canada and Europe. “But the American brand has taken a massive hit, and the U.K. is the one that is benefiting,” he said.
Staying in Asia is becoming more popular
Demand from Chinese students has risen rapidly for universities places in Hong Kong, Singapore and Malaysia, said Will Kwong, managing director of AAS Education, a consultancy in Hong Kong. Many Western universities have offshore campuses there that are more affordable than going to the U.S. or U.K.“Opting for study in Asia has been a trend since the easing of COVID-19,” Kwong said. “But obviously it’s been exacerbated by the change of administration in the U.S.”Some Asian families have told him the U.S. is no longer their clear first choice because of political turbulence and visa difficulties, many are still waiting for U.S. visa interviews and will likely miss the start of the fall term, Kwong said.Chinese college student Alisa, who is studying data science, plans to attend an exchange program this fall at the University of California, Berkeley. She hopes to pursue a master’s degree in the U.S.But she is also looking into other options “just so I could still go to school if the extreme scenario occurs,” said Alisa, who spoke on condition of partial anonymity out of fear of being targeted.Hong Kong will welcome any students who are denied entry to the U.S., the city’s leader John Lee has said. Last year, the Chinese territory decided to allow international students to work part-time.Hong Kong University said it has received over 500 inquiries from students in the U.S. and is processing around 200 applications for transfer. At another school, the Hong Kong University of Science and Technology, international undergraduate applications have surged by 40% from last year, said Alison Lloyd, associate provost on institutional data and research.
Upheaval could be a boon for countries with satellite campuses
Countries including the United Arab Emirates have invested heavily in attracting international students by partnering with universities elsewhere to host branch campuses. These arrangements could appeal to students who fear being denied access to the U.S.Dubai, which has designs on becoming a global education hub, hosts dozens of international institutions’ satellite campuses. It saw international student numbers grow by a third in 2024-2025.Lisa Johnson, principal of Dubai’s private American Academy for Girls, said her mostly Emirati student body is increasingly looking away from the U.S. for college.“Every student wants and dreams to go to Harvard,” she said. “But as college options increase in the United Arab Emirates, more and more students are staying.”Kazakhstan has similar ambitions, said Daniel Palm, who has helped U.S. universities set up campuses abroad. Illinois Tech and the University of Arizona are among colleges offering degree programs in the Central Asian country, drawing students mostly from China and Russia.“All of a sudden U.S. colleges are asking how to provide diversity, provide access,” Palm said, “because you have students who want to come to the U.S. and can’t.”
Associated Press writers Kanis Leung in Hong Kong; Albee Zhang in Washington, D.C.; and Gabe Levin in Dubai contributed.
Sylvia Hui, Associated Press
Vision boards are now getting the AI treatment.
From Lucky Girl Syndrome to the whisper method, the idea of manifesting your dream life into existence has been trending on social media for some time. Now, with the rise of generative AI tools, people are creating personalized life trailers with the help of platforms like Freepik, Runway, and ChatGPT in order to bring those dreams to life in entirely new ways.
For one 24-year-old The New York Times recently interviewed, her digital vision boardcreated using Freepikincluded flying on a private plane, giving a keynote address to a packed room, and getting a notification on her computer that she reached 100,000 subscribers on YouTube, the newspaper reported.
Instead of writing down her wishes in a journal or cutting out aspirational images from magazines and Pinterest boards, she was able to place an avatar of herself directly into her ideal future using artificial intelligence technology.
Shes not alone. I accidentally manifested a trip to Paris with AI, one TikTok creator claimed, showing AI-generated images of herself in front of the Eiffel Tower, followed by a text from her boyfriend with a booking confirmation. If you are not using AI to read you a play-by-play of your future, you are using it wrong, another user posted. I am literally giddy and kicking my feet right now.
@sabi.manifests Was playing with an AI to visualise myself in Paris, didnt tell a soul about it – and my man sends me this.. HOW? #lawofattraction #manifestation #howtomanifest Jet2 Advert – A7-BBH | MAN
Some TikTokers have shared prompts theyve used to clarify the life they want to manifest. Others suggest writing down those visions, turning them into a podcast using ChatGPT or Google AI, and listening to it on repeat throughout the day.
@sophie.riichards Go manifest your dream life queens! Who says AI is bad now ey? #chatgpt #manifesting #manifestyourdreamlife #visionboard #goals #howtomanifest original sound – Sophie Richards
As AI becomes more embedded in daily life, its no surprise that people are finding inventive ways to maximize these tools. Earlier this year, a Harvard Business Review study found organizing my life and finding purpose were the second- and third-most popular uses for generative AIjust behind therapy/companionship.
At the same time, with much of the world feeling uncertain, manifestation content has seen a surge. After months of bleak headlines, rising unemployment, and ongoing economic instability, who wouldnt want to watch a personalized highlight reel of themselves landing their dream job or stepping into the life theyve always envisioned?
Just dont get so caught up in replaying your life trailer that you forget to actually live it.
U.S. President Donald Trump raised the tariffs on Canadian goods to 35% last week, but a key exemption for Canada and Mexico shields the vast majority of goods from the punishing duties.Goods that comply with the 2020 United States-Mexico-Canada Agreement that Trump negotiated during his first term are excluded from the tariffs.Here’s a look at Trump’s tariffs on the two countries and their exemptions:
Most Canadian exports reaching the US duty free
Canada’s central bank says 100% of energy exports and 95% of other exports are compliant with the trade pact, known as USMCA. The Royal Bank estimated that almost 90% of Canadian exports appear to have accessed the U.S. market duty free in April.Canadian Prime Minister Mark Carney said the commitment of the U.S. to the core of USMCA, reaffirmed again last week, means the U.S. average tariff rate on Canadian goods remains one of its lowest, and over 85% of Canada-U.S. trade continues to be tariff free.“Canada is better off than any of the trading partners right now because the Americans appear to be relying as a default on USMCA,” said Flavio Volpe, president of the Automotive Parts Manufacturers’ Association. “That gives them the tough tariff headline but also allows them the access to the stuff they need from us. Because of that we’re in a relative better position.”Canadian and Mexican companies can claim preferential treatment under the USMCA based on where the products are made.“The headline news is 35% tariffs but it’s somewhat targeted,” said John Manley, Canada’s former industry minister, finance minister, foreign affairs minister and deputy prime minister.Manley said Canada is doing okay despite the economic uncertainty.“There is a lot of resilience I’d say. The Canadian economy has done relatively well, better than most of us expected, and remember that there is no tariffs on any of our energy exports,” he said.
25% tariffs on Mexican goods target a small slice of trade
Trump said last week he would enter into a 90-day negotiating period with Mexico, also one of America’s largest trading partners. The current 25% tariff rates are staying in place, down from the 30% he had threatened earlier.But that 25% only applies to the fraction of Mexico’s trade with the U.S. that isn’t covered by the USMCA. Shortly after speaking with Trump on Thursday, President Claudia Sheinbaum said that within the “new commercial world order,” Mexico was still the best positioned nation because of the free trade agreement.“What’s within (USMCA) has no tariff, with the exception of what we already know: autos, steel and aluminum; and what is outside the treaty has 25%,” Sheinbaum said.But Economy Secretary Marcelo Ebrard pointed out that under the USMCA no tariffs were paid on more than 84% of Mexico’s trade with the United States.Most imports from Canada and Mexico are still protected by the USMCA, but the deal is up for review next year. U.S. Commerce Secretary Howard Lutnick said last month: “I think the president is absolutely going to renegotiate USMCA.”Preserving the free trade pact will be critical for Canada and Mexico.“It would be an incredible disruption to lose it especially if you lost it to the levels of tariffs Trump is imposing, 30%, 25% or even 20%. You can absorb a single digit tariff level across the board but you can’t adjust that kind of increase,” Manley said.More than 75% of Canada’s exports go to the U.S. while more than 80% of Mexico’s exports go there.Manley said that depending on how the trade war plays out the risk to the USMCA is very high. “Uncertainty in business is the enemy of decision making,” he said.
Charging for access
Carney said in a series of recent agreements with other countries that America is, in effect, charging for access to its economy.Manley said the investment thesis for Canada is pretty straightforward as Canada is rich in natural resources, has a skilled labor force, is open to immigration and has unfettered access to the U.S. market, the largest economy in the world.“If that latter point is no longer the case, we’ve still got all the others, but we’ve got to really redevelop the investment thesis for attracting investment to Canada,” Manley said.Trump has some sector specific tariffs, known as 232 tariffs, that are having an impact. There is a 50% tariff on steel and aluminum imports and a 25% tariff on auto imports, though there is a carve-out for Canadian and Mexican made cars.“Despite our advantages, certain major Canadian industries are being severely impacted by U.S. trade actions. These strategic sectors include autos, steel, aluminum, copper, pharmaceuticals, semiconductors, and of course, softwood lumber,” Carney said on Tuesday as he announced an aid package for the lumber industry as the U.S, ratches up duties.“It is clear we cannot count or fully rely on what has been our most valued trading relationship for our prosperity,” he added.
Associated Press writer Fabiola Sánchez in Mexico City contributed to this report.
Rob Gillies, Associated Press
One of the worlds newest so-called meme stocks is having a very bad day today. Shares in Opendoor Technologies (Nasdaq: OPEN) are currently slumping more than 20% in premarket trading. Heres what you need to know.
Opendoor reports its Q2 2025 results
Yesterday, Opendoor announced second-quarter results for its fiscal 2025. Heres what Opendoor reported:
Revenue of $1.6 billion
Gross profit of $128 million
Net loss of $29 million
The company also revealed that it had an inventory balance of 4,538 homes with a total value of $1.5 billion. Additionally, it said that during the quarter, it purchased 1,757 homes, which was down 51% from the previous quarter and down 63% from the same quarter a year earlier.
For its current Q3, Opendoor issued revenue guidance of $800 million to $875 million.
But unfortunately for the companys shareholders, after Opendoor announced its results, the stock plummeted over 20%.
When are OPEN shares down so much?
There are a few reasons why OPEN shares have fallen so much since the company announced its results yesterday.
The first is that the company reported a disappointing revenue guidance for the current Q3. It said it expects revenue of $800 million to $875 million. As noted by CNBC, that would represent a 36% decline from the same period a year ago.
This revenue decline is partly expected due to the current challenging home-buying environment. High interest rates, which in turn make mortgage rates high, deter home buyers, resulting in decreased home sales.
Another possible factor in Opendoors stock price slump today is that the company did not give much detailed information on its evolving business model, which it has dubbed Product to Platform.
This new model will see Opendoor moving from a single product to a distributed platform with multiple offerings delivered through agents, according to comments from CEO Carrie A. Wheeler on the companys earnings call.
When a company radically changes its business model, it introduces uncertaintyand uncertainty makes investors nervous.
A third possible reason why OPEN stock is falling so much today is much simpler: It’s a meme stock, and meme stocks are highly volatile.
Yesterday’s earnings announcement was the first since OPEN stock went stratospheric last month, and the lackluster results may be prompting some investors who got in at the right time to take profits.
OPEN stocks wild summer
Over the past month, Opendoors stock has been on a wild ride. Starting around mid-July, the stock surged in popularity within the meme stock community. Shares went from being worth around 75 cents each to surging to over $3.20 per share in little more than a week.
As of yesterdays close, OPEN shares had surged more than 313% in the past month.
However, as todays 20% share price drop shows, when it comes to meme stocks, what goes up rapidly can come down just as rapidly.
Cyberattacks are on the rise, and artificial intelligence is making it easier for bad actors to scam individuals and businesses alike. In response, Visa is launching a new initiative that offers businesses tailored data to better combat cybercrime.
Today, August 6, Visa unveils its new Cybersecurity Advisory Practice, providing customers and businesses with access to advanced tools designed to protect against the growing threat of cybercrime.
Over the past year, the digital payments giant says it has invested billions in cybersecurity infrastructure and enhanced its global payments network by deploying generative AI to detect and block fraud. With its latest initiative, Visa plans to share those capabilities directly with clients to address mounting concerns around information security in the AI era. The new practice will leverage Visas internal fraud-fighting insights and adapt them to meet the specific needs of each business.
Utilizing AI and drawing from a team of 2,000 consultants, data scientists, and product experts, Visa aims to help clients defend against increasingly sophisticated cyberattacks.
Visas Cybersecurity Advisory Practice emerged from what Carl Rutstein, the companys global head of advisory services, describes as a clear need from clients for deeper, more proactive support amid a rapidly evolving threat landscape. As online commerce grows, so does cybercrime. There has been a nearly 300% increase in internet fraud just over the last few years, he tells Fast Company, prompting businesses to seek new ways to proactively identify, evaluate, and obviously mitigate emerging cyber threats.
According to cybersecurity and compliance firm VikingCloud, cybercrime could cost businesses as much as $10.5 trillion by years end, and up to $15.63 trillion by 2029.
The FBI reported that in 2024 the top three internet crimes were phishing/spoofing, extortion, and personal data breaches. Cybercriminals are increasingly turning to AI, using it to crack passwords, manipulate or poison data, and create deepfakes.
Rutstein says fraud has escalated as bad actors adopt AI to exploit the financial system. Visa, he notes, blocked $14 million in presumed fraud in 2024a 30% increase over 2023.
The Cybersecurity Advisory Practice is intended to build on Visas current payment ecosystem, offering services such as dark web threat detection, vulnerability testing, enumeration defense, employee training, and cybersecurity maturity assessments.
Other digital payments providers are also responding to the growing threat. Just last month, Mastercard announced its Security Solutions Program, which includes financial investments in startups that are developing cybersecurity and fraud prevention technologies.
Much like Mastercards strategy of investing in next-gen security, Visa says its approach focuses on advising businesses of all sizes directly, emphasizing a proactive, rather than reactive, stance.
We built it to just help our clients, Rutstein said. We do exactly what you would expect an advisory firm connected to a network to be doing, and therefore these are resources and capabilities that are available.
Two of the tech industrys AI hardware companies are seeing their share prices drop after they reported their most recent quarterly earnings after the closing bell yesterday.
The stock prices of Super Micro Computer, Inc. (Nasdaq: SMCI) and Advanced Micro Devices, Inc. (Nasdaq: AMD) are down significantly over investor fears that artificial intelligence-related growth is lagging expectations. Heres what you need to know.
Supermicro misses expectations
Shares in Super Micro Computer (aka Supermicro) are trading sharply lower in premarket as of the time of this writing. Currently, SMCI shares are down more than 16.2% to $47.95. The reason for this dramatic stock price drop has everything to do with the companys just-announced Q4 2025 results.
The server maker announced Q4 net sales of $5.8 billion, which was up significantly from the $4.6 billion it posted in Q3. Net income for the quarter was $195 million, which was also up from Q3, when the company posted $109 million in net income. Finally, its Q4 earnings per share (EPS) were 41 cents, up from 31 cents in Q3.
So if Supermicro’s results were up over the last quarter, why is the stock falling?
Its a combination of expectations and sales that fall short of past quarters. While Supermicro posted net income of $195 millionaround $86 million more than the previous quarterthat was down from its $297 million in net income during the same quarter a year earlier.
As noted by CNBC, the year-over-year Q4 net income decline is partially attributable to Supermicro’s costs from President Trumps tariffs. However, costs arent the only thing bugging Super Micro Computer investors. The company’s results also didnt meet investor expectations.
LSEG consensus estimates for the quarter were an EPS of 44 cents, three cents short of what Supermicro delivered. Investors also expected revenue of $5.89 billionmore than the $5.76 billion that Supermicro reported.
As Reuters notes, many attribute the companys lower-than-estimated revenue to Supermicro losing out on AI server sales to its bigger competitors, including Dell and HP.
Finally, Super Micro Computer also disappointed investors by forecasting full-year fiscal 2026 net sales to total at least $33 billion. Previously, the company had said it expected net sales of around $40 billion in 2026.
All this has led to growth fears: While the AI revolution may mean high demand for servers that are needed for artificial intelligence, Supermicro isnt benefiting from that demand as much as hoped.
AMD missed expectations, too
AI chipmaker AMD is also facing stock price declines this morningthough not as severe as Super Micros.
The company posted its Q2 2025 results after the bell yesterday, and since then its shares are down nearly 7% to $162.16 in premarket trading as of the time of this writing.
AMD posted a Q2 revenue of $7.7 billion and net income of $781 million. Its earnings per share (EPS) for the quarter was 48 cents.
However, as with Supermicro, AMDs EPS was below expectations. As noted by CNBC, the LSEG consensus was that AMD would report an EPS of 49 cents.
The company also suffered hundreds of millions in lost sales after the Trump administration banned sales of its MI308 chips to China. However, this ban may soon be reversed.
As Reuters notes, AMD did post a 14% revenue rise in its important data center unit, yet this sum of $3.2 billion was also slightly below expectations, suggesting investors fear that AMD isnt benefiting to the maximum degree that it can from the AI chip boom.
Stock price history and future challenges
Before todays premarket decline for Supermicro and AMD, shares in both companies have had a good run in 2025.
As of yesterdays close of market, AMD shares had risen 44% in 2025. SMCI shares surged 87% in the same period.
Looking back over the past 12 months, AMD shares were up nearly 30% as of yesterdays close.
SMCI shares were down nearly 6% for the same period. However, the company had been plagued last year and earlier this year by an accounting crisis that had risked its delisting from the Nasdaq. It eventually filed delinquent forms with the Securities and Exchange Commission (SEC) in February.
