Business and Finance News - 2.17.25

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Amazon workers at a Garner, North Carolina, facility voted against unionizing, with 2,447 opposing and 829 in favor out of 3,276 ballots cast. The loss is a setback for organizers who sought higher wages and longer breaks, highlighting the ongoing challenges of unionization efforts at Amazon and in low-union states. (CNBC)

Key Insight → Amazon's victory in the North Carolina union vote underscores the company's ongoing success in resisting organized labor, despite growing national support for unions. The defeat signals the continued difficulty of unionizing in historically anti-union states like North Carolina, where membership remains low, and companies leverage aggressive anti-union tactics. For the broader labor movement, this outcome is a setback, but it also highlights the persistent wage and working condition concerns that fuel unionization efforts at Amazon and beyond.

The House Energy and Commerce Committee is divided on how to power AI’s growing energy demands, with Republicans favoring fossil fuels and nuclear while Democrats push for renewables. The debate highlights concerns over grid capacity, environmental impact, and rising electricity costs as AI-driven data centers expand nationwide. (Axios)

Key Insight → AI's surging energy demand is forcing lawmakers to grapple with how to power data centers without destabilizing the grid or driving up costs for consumers. The divide in the House Energy and Commerce Committee reflects a larger market tension—balancing the rapid expansion of AI with the reality of energy infrastructure constraints and emissions concerns. How this debate unfolds will shape future investments in energy sources, grid modernization, and regulatory policies, ultimately impacting AI's growth trajectory and its economic and environmental footprint.

OpenAI’s board rejected Elon Musk’s $97.4 billion acquisition bid, reaffirming that the company is not for sale and remains committed to its nonprofit mission. Musk, who has accused OpenAI of prioritizing profit over public benefit, threatened to withdraw his offer unless the company abandons its for-profit transition plans. (Reuters)

Key Insight → OpenAI’s rejection of Elon Musk’s $97.4 billion bid highlights the deepening rift between the company’s nonprofit origins and its push toward aggressive commercialization. The battle underscores a larger market shift—AI development is now a high-stakes competition dominated by for-profit interests, where access to funding and control over foundational models dictate industry power. How this conflict unfolds could reshape AI governance, investment strategies, and the balance between open-access innovation and corporate dominance in artificial intelligence.

The Trump administration has asked Taiwan Semiconductor Manufacturing Co. (TSMC) to take a controlling stake in Intel’s U.S. factories to boost domestic chip production and maintain technological leadership. While TSMC is open to discussions, the deal faces political and regulatory challenges, and it remains unclear if Intel is willing to proceed. (Yahoo! Finance)

Key Insight → If TSMC were to take control of Intel’s U.S. factories, it would mark a major shift in the semiconductor industry, further consolidating Taiwan’s dominance in advanced chip manufacturing while raising national security and economic concerns for the U.S. This potential deal highlights the ongoing struggle to revitalize American chipmaking, as Washington balances competition with China, supply chain security, and the role of foreign investment in critical industries. For the broader market, the outcome could influence chip supply dynamics, government policy on industrial subsidies, and the long-term trajectory of U.S. semiconductor independence.

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Here’s how the major indexes did on Friday:

• Dow Jones Industrial Average: 44,546.08 -165.35 (-0.37%)

• S&P 500: 6,114.63 -0.44 (-0.01%)

• Nasdaq Composite: 20,026.77 +81.13 (+0.41%)

• Russell 2000: 2,279.98 -2.20 (-0.10%)

Here’s how The Magnificent Seven did on Friday:

• Apple (AAPL) [3.678T]: 244.60 +3.07 (+1.27%)

• Nvidia (NVDA) [3.40T]: 138.85 +3.56 (+2.63%)

• Microsoft (MSFT) [3.036T]: 408.43 -2.11 (-0.51%)

• Amazon (AMZN) [2.423T]: 228.68 -1.69 (-0.73%)

• Alphabet (GOOGL) [2.261T]: 185.23 -0.91 (-0.49%)

• Meta Platforms (META) [1.866T]: 736.67 +8.11 (+1.11%)

• Tesla (TSLA) [1.145T]: 355.84 -0.10 (-0.03%)

Here’s how Bitcoin and Ethereum did yesterday:

• Bitcoin (BTC): $97,197.32 (2:00PM PST on 2/16/25)

• Ethereum (ETH): $2,687.32 (2:00PM PST on 2/16/25)