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AI has skyrocketed Nokia shares by 140%. Now comes the hard part

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For years, Nokia seemed to be trapped in our memory as a company from the past: indestructible mobile phones, the ‘Snake‘, recognizable tones and a fall which ended up becoming a warning for the entire technology industry. But that image is somewhat unfair. Nokia did not disappear when it lost its step in the smartphone market. The company continued to exist, far from the consumer’s showcase, in a less visible and much more difficult to explain business: the networks, the infrastructure for operators and the technology that allows modern communications to work. And now, suddenly, AI has put it back on the map. The stock market turn. According to BloombergNokia shares have risen more than 140% so far this year, a move that has made it the fourth best value in the Stoxx Europe 600 and has taken its shares to levels not seen since 2008. The key is that investors are beginning to read the company in a different way: less as a traditional supplier of telecommunications equipment and more as a piece of the infrastructure that can sustain the rise of AI. Not for phones, but for their optical equipment for data centers. The important clarification. The signature of the rise is Nokia Oyj, not to HMD Global. The difference matters because HMD is the company that has marketed mobile phones under the Nokia brand under license, while Nokia Oyj is the listed Finnish company. The separation point came in 2014, with the sale of the mobile division to Microsoft. From then on, the Nokia name continued to circulate on two different levels: as a recognizable brand for many consumers and as an industrial company within the global telecommunications market. An assessment that becomes complicated. The stock market euphoria has left Nokia in a delicate position: the more a stock rises, the harder it is to justify what comes next. Information from the American economic media places its 12-month forward P/E, the relationship between the share price and the expected profits for the next year, at about 36 times, more than double the approximately 17 times at the beginning of the year. The data that cools the enthusiasm is another: the part linked to AI and cloud, which is fueling much of the new narrative, barely represented 8% of the group’s sales in the first quarter. The technical piece. Nokia’s appeal lies in a layer that often falls beneath the more visible narrative of AI. While much of the conversation revolves around chips, models and applications, data centers also need optical networks to move information quickly between computing systems. The purchase of Infineraa company specialized in optical networks, gave Nokia more muscle in that field and now seems like a particularly timely operation. Added to this are three signals collected by Bloomberg: sales linked to AI grew by 49% in the first quarter, the company raised its forecasts in April for segments exposed to cloud clients and NVIDIA made an investment of 1 billion dollars. The bottom ballast. The enthusiasm for optical networks does not erase the size of the business that Nokia already had before investors began to read it in terms of AI. The mobile networks division still contributes more than half of total sales and, according to the information cited by the American economic media, works with lower margins than the part more linked to cloud and artificial intelligence. That weight conditions any optimistic reading. Operators have reduced spending in recent years and Nokia has also suffered important contract losses in the United States, so the company is not starting from a blank slate. The real test. For years, the big question around Nokia was whether anyone would look at it again as anything more than a memory of another technological era. That part, at least in the stock market, has already happened. The problem is that investors do not forgive second chances when they become too expensive: after a rise of more than 140%, the company no longer only has to prove that it has exposure to AI, but that that exposure can be converted into orders, revenues and margins. The story is attractive again. Now the most difficult thing remains: for the numbers to be up to par. Images | NOKIA In Xataka | Huawei has found a way to counteract US sanctions: overcoming Moore’s Law

OpenAI employees who sold their shares

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In October of last year, OpenAI closed a secondary share sale which raised its valuation to 500,000 million dollars (Today it is already worth 852,000 million). This allowed employees to sell their shares, becoming multimillionaires even before the IPO. 6.6 billion. It is the total amount of the operation in which more than 600 employees, both current and former employees, benefited. In previous similar operations, OpenAI limited the maximum per person to 10 million, but in this case, due to high demand from investors, they decided to triple it to 30 million. Of all of them, 75 employees reached the maximum number, becoming multimillionaires in one fell swoop. The AI ​​winners. Uncertainty about the future profitability of AI continues to loom large, but that is not affecting workers in the most important AI laboratories. The case of the secondary sale of OpenAI is just one example of how AI engineers have become the biggest winners of this boom. Last summer, Meta offered up to $100 million to competing engineers and NVIDIA paid 900 million by an employee. Tender offers. The usual thing when you started to work in a startup is that you received a low salary and a lot of shares, but you had to wait for the IPO to be able to make cash. This made many employees rich only on paper, but without real liquidity. A tender offer allows employees to get paid much sooner, allowing them to sell stakes to private investors. They count in the Wall Street Journal That this mechanism, which was previously a one-time thing, has become a central piece in Silicon Valley achieves a double effect: in addition to turning employees into millionaires in advance and thus retaining them to stay in the company, it helps to consolidate stratospheric valuations, causing each new operation to set a higher reference price for OpenAI shares. The local impact. The rain of millions had an almost immediate consequence on the real estate market in San Franciscowhich is seeing prices rise even more. In February of this year the rents had increased by 14% compared to the same period in 2025 and the purchase prices of apartments and single-family homes rose by 12 and 23% respectively. At the same time, the sale of homes valued above $5 million has increased by 220%. The AI ​​gap. In the end, the AI ​​boom is not only redefining which companies rule Silicon Valley (and the world), but also who can afford to live there. The combination of exorbitant valuations, tender offers billionaires and a stressed real estate market is turning AI engineers into a new urban aristocracy that, in practice, is redefining what it means to have a “good salary.” The income that a few years ago guaranteed access to the best neighborhoods is no longer enough today. Image | Xataka with Gemini In Xataka | Companies are turning their workers who know how to use AI into “stars”: the new labor gap

In 1962, someone donated shares in a company to the elderly in his town. The company was Nokia and today they live like millionaires

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There are stories that seem taken from a Hollywood script. That of Onni Nurmi, a young Finnish entrepreneur, has a name, surname, date and even a street named after him. The story of our protagonist It has all the elements for a script worthy of an Oscar: a man who was born in misery, fell into debt with his neighbors, crossed the Atlantic to settle his outstanding accounts and returned to his country. Decades after he died, he has become the greatest benefactor of his people. All this, for having donated to the nursing home in his town the shares of a rubber company that did not attract anyone’s attention. A Nurmi always pays his debts Onni Nurmi was born in 1885 in Savijoki, a small town within the municipality of Pukkila, in Finland, a town of just under 1,700 inhabitants. Nurmi grew up in a humble home marked by the hardships of being raised by a single mother who worked in the fields and ran a small canning store in the town. When she died unexpectedly at age 49, Onni was only 13 years old and had no future in Pukkila, so he moved to Helsinki. In 1912, he returned to Pukkila and resumed the family business by opening a store. However, his business did not work out. The following year, indebted to dozens of neighborstook a ship to America and spent 15 years working as a game warden in Minnesota. When he returned in 1928, he went door to door paying off every outstanding debt owed to Pukkila residents, some of them incurred a decade earlier. He didn’t do it because no one demanded it. Onni was simply that type of person. Onni Nurmi. Source: Kylä Savijoki Helsinki’s most unlikely investor With his debts paid off, Onni moved back to Helsinki, where he worked as a property manager and led an orderly, quiet life. He never married or had children. At some point he discovered investments in the stock market and, without financial training and with the only help of his intuition, he decided to buy shares of a small company that manufactured paper, rubber, rubber tires and boots which had its headquarters in the city that gave it its name: Nokia. In 1959 he wrote his will and decided to leave all the shares of that company that manufactured wellies to the municipality of Pukkila, with two conditions: They should never be sold and his donation was to be used solely for the well-being of the town’s elders. Onni Nurmi died in 1962 at the age of 77. The 780 shares he donated to the town where he had lived most of his life were then worth about $30,000, the equivalent of about $320,000 today. His gesture was undoubtedly generous, but not extraordinary…yet. The Buffett Effect: Let Time Do Its Work The clause preventing the sale of the shares seemed a problem at first. If the town had been able to cash in on the stock portfolio at any time, it would have obtained funds to improve the nursing home. However, the will was blunt on that point: shares had to be keptand they could only use dividends that these actions will generate over time. However, what seemed like a limitation to local authorities eventually became the best investment decision anyone in Pukkila could have made. The will was forcing them to apply a technique that for more than six decades has become a millionaire to Warren Buffett: leave let time do its work. Throughout the 80s and 90s, Nokia left rubber boots behind to become the largest mobile phone manufacturer in the world, position he held between 1998 and 2012. The original 780 shares that Nurmi had donated multiplied by a thousand due to its growth in the stock market and the overwhelming sales domain of their phones. At the height of the technology boom, Pukkila’s portfolio was valued at around 90 million dollarsmaking their Pukkila retirees the most prosperous in Finland, at least on paper. What do we do with so much money? The prosperity of the actions opened a new debate among the residents of Pukkila. They were sitting on a fortune and doing nothing to profit from it. In 1997, the city council proposed selling part of the shares to diversify the portfolio and reduce the risk of a hypothetical fall of Nokia. Not everyone agreed. A section of the town argued that selling the shares was against Nurmi’s will. Another sector even proposed that the benefits be used so that residents would not pay municipal taxes for 12 years. Given the disagreement, the debate reached the courts and lasted for several years. Ironically, the “Buffett effect” came into play again, and the judicial paralysis was the best possible news for the people’s coffers: while the issue of the sale of shares was being settled in court, Nokia shares did not stop increase its value. The courts finally approved an agreement by which the municipality could sell a part of the portfolio and diversify its funds, always respecting the original will of the will to support the town’s elders. as main beneficiaries of those actions. With that money the Onni Wellness Centeropened in 2008. The building stands on Onnintie Street (which in Finnish literally means Happiness Street) and includes sheltered housing, spaces for people with memory disorders, a health center, pharmacy, swimming pool, gym, library, cafeteria and a Japanese garden. All this in a municipality of less than 2,000 inhabitants. Onni Nurmi never imagined the magnitude of his donation decades after his death, but in some ways, he more than repaid the patience his neighbors had in waiting decades to pay off their debt. In Xataka | Giving money away wasn’t enough: Warren Buffett turned Christmas into an investing masterclass for his family Image | Unsplash (Pawel Czerwinski, Joe Zlomek, MW), Kylä Savijoki.

All the founders of OpenAI have become billionaires with ChatGPT. Everyone except Sam Altman, who has no shares

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Sam Altman is the most recognizable face of the AI ​​industry in the world. He directs OpenAI, the company that created ChatGPT and is today valued at 852,000 million of dollars. However, a leaked document during the ongoing trial between Altman and Elon Musk Due to the change in status from an NGO to a for-profit entity, it has revealed who the true investors of OpenAI are and how much their participation in the company amounts to. In the box next to his name, only three letters appear: TBD, which in English means “to be determined.” The man who leads the biggest technological revolution in recent years does not own a single share of his own company. Sam Altman works for the love of art. OpenAI was born in 2015 as non-profit organization with an ambitious mission: to develop AI safely and for the good of humanity. That Altman did not take stock then made some sense since his role was presented as the neutral guardian, the leader whose decisions were not tainted by money. A noble mission, without a doubt. But that It is not the scenario in 2026. In 2019, OpenAI’s charity structure began to become too small to compete in the AI ​​race. OpenAI created a for-profit subsidiary under the so-called “capped-profit” model, in which investors they could make profits limited. That opened the door for capital and also for executives and co-founders to secure huge stakes in OpenAI. Altman’s name, paradoxically, remained blank. Those who did get rich, and a lot. As and how I collected Forbes, Greg Brockman, co-founder and former president of OpenAI, admitted during the trial that he owns a stake worth about $30 billion for which he paid nothing. Ilya Sutskever, former scientific director, has a participation between 30,000 and 35,000 million dollars. Figures very far from the annual compensation of $76,001 that its CEO receives, according to the tax form from OpenAI. The other major beneficiary is the Sound Ventures fund, linked to actor Ashton Kutcherinvested 30 million dollars in an early phase and that bet is now worth 1.3 billion, a return of 43 times the investment. In total, current and former employees control about $165 billion in company shares. The distribution among the greats. The block of corporate investors formed by Microsoft, SoftBank, Amazon and NVIDIA, together control 46.58% of OpenAI, with a stake valued at $396.9 billion against a combined investment of $122.7 billion. Microsoft leads that group with 26.79% of the company, a position valued at $228.3 billion built from an initial investment of 13,000 million. SoftBank occupies second place with 11.66% of OpenAI, valued at 99.3 billion compared to an initial payment of 64.6 billion, which represents a profitability of 1.5 times. amazon It has 4.66% of the company, valued at 39.7 billion dollars with an investment of 15 billion and a profitability of 2.6 times. At the top of the table is the OpenAI Foundation, the original non-profit entity, with 25.80% of the company and a stake valued at $219.8 billion which, having been formed with contributions without financial compensation, technically has an infinite return. Here may lie the key to the mystery of Altman’s retribution. A calculated move. The most widespread theory is that Altman and the board of directors, which he has firmly controlled since surviving the 2023 impeachment attempt, They are simply biding their time. Once the dispute with Musk concludes, the OpenAI board is likely to retroactively determine that Altman deserves participation commensurate with his responsibility. It is likely that, as is the case with other CEOs, This remuneration is linked to milestones like taking the company public with a valuation of more than a billion dollars. Perhaps this retribution will arise from that reserved fund now controlled by the OpenAI Foundation. Meanwhile, Altman is not exactly in trouble and your personal assets exceeds 2 billion dollars thanks to investments in companies that, curiously, are very well positioned to benefit from the growth of OpenAI. Without being a shareholder in his own company, he has built a personal business ecosystem that prospers directly thanks to his success. In Xataka | “The problem is Sam Altman”: more and more voices within the AI ​​industry are beginning to question the CEO of OpenAI Image | Flikr (TechCrunch)

Netflix makes more money than ever and its shares fall 9%. The explanation is that Netflix is ​​the new mainstream

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Reed Hastings founded Netflix 29 years ago with an idea as simple as it was revolutionary: charge a fixed fee in exchange for access to content on demand and without interruptions, in a digital version of the video store by mail in which the company took its first steps. This Thursday, as the company posted solid quarterly results that still disappointed Wall Street, it was announced that Hastings will step down from the board of directors in June. The man who built Netflix is ​​leaving now that the platform is no longer what he envisioned. The results. The results for the first quarter of 2026 are, in absolute terms, notables. They reached 12.25 billion dollars, 16% more than in the same period of the previous year, meeting what the company itself had projected and slightly exceeding the average expectations of analysts. Net profit grew 82% to $5.23 billion. It is a spectacular percentage, yes, but that earnings per share of $1.23 includes the $2.8 billion break-up fee Frustrated deal with Warner Bros. Discoverywhich inflates the accounting result. Without it, the number would have been more modest. And that’s why shares fell 9% on Wall Street. Fall in the stock market. The main reason for this stock market crash was not the data for the quarter, but the outlook for the second. Netflix projects 13% growth in revenue for Q2, to about $12.6 billion, when the Wall Street consensus was closer to $13.1 billion. The difference is small in relative terms, but enough to remind us that investors have been accustomed for years to Netflix far exceeding its forecasts. Goodbye Hastings… The company has also announced that Reed Hastings, co-founder and until now president of the councilwill not stand for reelection when his term expires at the shareholders meeting on June 4, 2026. This ends 29 years with the company which he himself co-founded. Hastings had already given a step back in January 2023when he left the co-CEO position in the hands of Ted Sarandos and Greg Peters. His definitive departure from the board, the company explained, responds to his desire to focus on philanthropy and other projects. During the call to analysts after the presentation of results, Sarandos had to respond to whether Hastings’ departure had any relationship with the failure of the operation with Warner Bros. Discovery. Sarandos stated that “I’m sorry to anyone who seeks palace intrigue. Reed was a great defender of that agreement.” …hello to the announcements. Hastings was for years one of the most visible skeptics within the company regarding the use of streaming advertising. In 2022, when Netflix first lost subscribersdeclared to be “against the complexity of advertisements.” Four years later, the advertising business has become one of the structural pillars of the company. The company works with more than 4,000 advertisers, 70% more than the previous year, and the advertising-supported plan already accounts for more than 60% of new registrations in the 12 countries where it is available, according to data from Netflix itself. The projection of advertising revenue for 2026 is 3,000 million dollars, double the 1.5 billion generated in 2025. It is paradoxical that the platform that has been seen as an evolutionary step of traditional television, without its inconveniences (among which, without a doubt, is advertising), now competes directly with YouTube and linear television for brand advertisements. What’s more: Netflix has migrated its advertising technology to its own platform, leaving behind dependence on Microsoft, and programmatic purchasing It is already close to 50% of its advertising business not tied to events. The paradox. That is, everything in these results points to a great paradox. The company itself recognizes which represents less than 5% of the share global television, but projected annual revenues of between $50.7 billion and $51.7 billion place it among the largest media companies on the planet. And meanwhile, its shares fall 9%. There is an explanation for all of this. For years, Netflix was a company of exponential growth, the type of asset that technology funds love: skyrocketing subscriber metrics, unstoppable geographic expansion, its own content that accumulated prestige and audience… Now it is something else: the mainstreamprofitable and predictable, with several monetization levers (subscription, advertising, live sports, gaming) and a business model that is no longer surprising, but widely imitated. A solid company, with a dominant position and prospects for growing profitability, but at a calm pace, in the medium term. It is certainly not the Netflix that Hastings built. In Xataka | Netflix is ​​desperate to find the next franchise that will make it gold. The problem is that he can’t find it.

Yuanjie is the unknown Chinese photonics technology company whose shares have risen 780%. The surprise is who is behind it: Huawei

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Yuanjie Semiconductor Technology It probably doesn’t sound familiar to you. And it’s completely normal. Until very recently, this Chinese company barely had visibility outside its domestic market, and even within it it played in the background compared to other giants in the sector. However, something has changed radically in the last year. Your actions They have risen nearly 780%a leap that has not only caught the attention of investors, but has placed its founder, Zhang Xingang, in the billionaires’ club. And there is a detail that adds another layer to the story: Huawei would be behind the company. So you may be wondering what exactly this company does. The key is not so much in Yuanjie itself as in the terrain on which he plays. Yuanjie makes laser chips that are used to transmit data in the form of light inside artificial intelligence-oriented data centers, a field that fits within the broader boom in photonics. It may sound technical, but the idea is quite direct: move more information, faster and with less consumption. As explained by PhotonDeltathis type of technology allows the use of photons to transmit and process information, in addition to integrating several photonic and optoelectronic functions in a single chip, with clear advantages over traditional electronics in high-demand environments. A movement that targets Huawei The other key point appears when you look at who is behind. Forbes presents to Yuanjie as a company backed by Huaweia connection that adds another dimension to their recent growth. From there, details are scarce. It has not been publicly explained how this relationship takes shape or what role each party plays, but there are a series of interesting data that are worth analyzing carefully. Now, if we go down one more level in the documents, the relationship becomes somewhat clearer. Huawei’s presence in Yuanjie would have materialized through Hubble Investment, an investment firm controlled by the Chinese group. As collected by Sina Finance Its entry occurred in September 2020 through a double formula: purchase of existing shares and subscription to a capital increase. With this operation, Hubble controlled 4.36% of Yuanjie, a percentage that later remained at 3.27% after the IPO. If we analyze the jump we can say that it is not only explained by the trend of the sector, but also by recent decisions. Yuanjie announced in February an investment of 1,251 million yuan, about 181 million dollarsto build a new production base in Xixian New Area, in the Chinese province of Shaanxi, where it also has its headquarters. Shortly after, in March, communicated his intention to explore an independent listing in Hong Kong. Two years earlier, in addition, the company had announced an investment of 50 million dollars in the United States to strengthen its international presence. Yuanjie’s journey is also best understood by looking at its founder. Zhang Xingang trained in the United States, where he obtained a doctorate in materials science at the University of Southern California and worked in companies linked to fiber optics. His time at Luminent and, later, at Source Photonics, placed him at the heart of this type of technology before returning to China. There he founded Yuanjie in 2013, with an initial focus more linked to the competitive Chinese telecommunications market, and in 2022 he took it to the STAR market in Shanghai, a platform designed for technology companies. To better understand this case, it is also worth looking at the moment that Huawei is going through. After the sanctions imposed by the United States in 2019the company was forced to reconfigure much of its business, especially in key areas such as semiconductors and software. Far from disappearing, it has gone rebuilding his position relying on its own development, from its Kirin chips to HarmonyOSand has regained weight in its domestic market. This context helps to understand why any movement linked to strategic technologies once again attracts attention to the Chinese company. In this framework, Yuanjie’s relationship with Huawei, as reported by Forbes, fits as one more possible piece within this process of technological reinforcement. There are no public details that allow us to talk about a defined strategy in the field of photonics or the specific role played by each party. But there is an underlying idea that is difficult to ignore: in the midst of a race to expand the infrastructure of artificial intelligence, technologies capable of moving data more quickly and efficiently are gaining weight. Images | Huawei | Yuanjie In Xataka | The looming bottleneck in AI is neither RAM nor gas: it’s that TSMC’s N3 node is absolutely saturated

Its shares have fallen 99% and threaten to sink it

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As I write these lines, X (the artist formerly known as Twitter) is full of memes and jokes about Fernando Alonso and the vibrations of the AMR26. I don’t know what happened to him in qualifying for the Australian Grand Prix. I don’t even know if, given what I’ve seen, He will at least be able to run on Sunday. The only thing that is clear is that Aston Martin is a meme factory. They have kept Fernando Alonso, capable of selling us the impossible. They have signed Adrian Newey, one of the most successful people in the history of Formula 1. And the preseason is summarized in that, in a year that Honda powers the team, Fernando Alonso has been seen walking with a Toyota Yaris through Monaco. Did you think it couldn’t be worse? Well, tell that to those who bought Aston Martin shares in 2018. Today they have depreciated 99%. The company’s fate hangs by a thread, mired in debts that seem like a slab that is impossible to lift. No clear candidates for purchase. With Lawrence Stroll, owner of the Formula 1 team and endorsement for his son to drive one of the cars, buying the company’s image to be able to use its name, colors and logo in the future. You can do it no matter what. And that’s not good at all. A life on the brink of bankruptcy The story of Aston Martin is a story of survival. Actually, few luxury companies can say that they have not encountered serious viability problems throughout their history. Ferrari, who sees the world burning around him and who seems untouchable on his throne, It was saved by Fiat in 1969. Lamborghini did not find stability until it was bought by the Volkswagen Group. Bugatti, which is also inside, it’s a money losing machine. And if we look at the British, Jaguar is in a process of reinvention. Lotus was bought by the Chinese conglomerate Geely and today little remains of what it was. McLaren is not much better than Aston Martin. As Raymond Blancafort explains in The Vanguardbarely 10 years had passed when Aston Martin encountered its first bankruptcy. After a first adventure focused on the world of competition, it was in the 1930s when the management at that time began to focus the company on street sports cars. Things would not improve later and David Brown, a businessman, would be the one to buy the company after World War II, assume the accumulated debts and pay his own tribute. And since then, Aston Martin sports cars have the letters DB associated with them. As the decades passed, the brand maintained two things: fame and debt. While James Bond rode around in his sports cars, the company’s buying and selling games marked the future. To the point that the company came to form Premier Groupthe umbrella under which Ford held Jaguar, Land Rover, Volvo… and Aston Martin. Things would not end well (Ford announced historic losses) and In 2007 it changed hands again to go to David Richards, who already controlled the future of the competing company, with the support of an American banker and two Kuwaiti groups. In 2013, Mercedes joined the company with a small participation and the objective of sharing knowledge and developments. In 2020 Lawrence Stroll arrived. A more than complicated crisis We have stopped along the way because the arrival of Lawrence Stroll marked a before and after. In 2018, this Canadian businessman creates the Racing Point group and buys the Force India Formula 1 team. The following year, he formed a team with the Mexican driver Sergio Pérez and a debutant: his son Lance Stroll. It would not be until 2021 when Racing Point became the Aston Martin Formula 1 teamwhich remains in a completely separate structure from the car manufacturer. But how do you get to this point? At the same time that Lawrence Stroll was taking his first steps in Formula 1, the Canadian acquired 16.7% of the vehicle manufacturer. The agreement included that the Formula 1 team would inherit its name. For this, Stroll paid almost 240 million dollars and a rights issue of 417.5 million dollars was carried out, which already anticipated that his weight in the company would continue to increase. The promise was to get Aston Martin out of a complicated situation. With less than 6,000 cars sold, the company announced losses of more than 120 million euros, 89% more than the previous year. Stroll arrived with the intention of turning the Aston Martin DBX, its future SUV, into a luxury product. Yes to Porsche had rescued him with the Cayenneif Lamborghini was producing the Urus, Aston Martin would regain momentum with the DBX. The truth is that the car is being a failure. The British SUV has never had enough traction and nor did it have the advantage of the Cayenne or the Urus, which share a platform and development with other Volkswagen Group cars, which helps reduce the risks. The projections of selling 5,000 cars annually have remained at 1,000 units placed on the market each year. With the Aston Martin DBX in free fall, the next ones to jump off the cliff were investors. Since going public in 2018, the shares have fallen 99% and The company now costs just over 400 million euros. last summer Liverpool invested more money in signings than what the entire company costs. Although the SUV has not found its place in the market, the DBX has not been the only thing that has failed. In 2017 the development of the Rapide Ewhich was supposed to be a rival to the Tesla Model S. The project ended up being canceled for a very simple reason that was pointed out by Tom Stacey, a senior lecturer at Anglia Ruskin University who worked for the company at BBC: In all parameters, the Aston Martin was a worse car than the Tesla. Not only that. Time has shown … Read more

“I wish I had kept some shares”

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In 1993, three young engineers sat around a table at a Denny’s from Silicon Valley with an ambitious idea: to create processors capable of generating realistic 3D graphics on a computer. Thirty years later, the result of that conversation is called NVIDIA and it is the company with largest market capitalization in history, with a market value that exceeds the 4.6 trillion dollars. Of those three founders, only one has remained at the helm: Jensen Huang. Paradoxically, Curtis Priem, the engineer who designed his first chips, lives almost disconnected from the world. He took a completely opposite path from Huang by selling all of his NVIDIA shares. Today he would be the second richest person in the world, only behind Elon Musk. Three engineers who only wanted quality graphics Jensen Huang, Chris Malachowsky and Curtis Priem were three young engineers who already saw the potential of GPUs long before they became popular. the AI ​​engine. In those years, their goal had a much more practical focus: to make video game graphics They will improve. As confirmed by Jensen Huang himself in an interview For the Stanford Graduate School of Business, the initiative came from its two partners. “Chris and Curtis said that one day they would like to leave Sun Microsystems, and that they would like me to figure out why they were leaving Sun Microsystems. They insisted that I figure out with them how to build a company.” Months later, NVIDIA was a reality. The company started with $40,000 in the bank. Huang ended up being the visible face of the company, while Priem focused on the more technical part and Malachowsky remained on a more discreet level as a senior executive. NVIDIA went public in January 1999 at a valuation of about $1.1 billion, and at that time, Priem already owned approximately 12.8% of the company. The Invisible Architect: Curtis Priem While Huang served as the company’s CEO, Priem worked in the shadows designing the architecture that would allow engineers to program NVIDIA chips. It was not the first time he had done this job since he had worked at companies such as Vermont Microsystems, GenRad, IBM and Sun Microsystems, where he was part of the design team for the IBM Professional Graphics Adapter, the first dedicated graphics processor for PCs. Priem accumulated nearly 200 patents in the US and internationally throughout his career, according to indicated in the profile of your foundation. Priem’s ​​role at NVIDIA was so technical and so far from the media spotlight that the founder himself counted to Forbes that his colleagues had created an unwritten rule for him: “never put Curtis in front of a camera, and never put Curtis in front of a client.” The 600 billion dollar man Priem was never much of a business person, so he didn’t feel comfortable at NVIDIA. Shortly after the company’s IPO, he founded the Priem Family Foundation and transferred more than three-quarters of his stake in NVIDIA to it. As and as you estimate Fortunewould have been the equivalent of about 100 million NVIDIA shares. By 2006, Priem had already sold all of his shares in the company. If Priem had retained his initial 12.8% stake, without taking into account potential share dilution, that stake would be worth more than $597 billion today. That figure would have made Priem the second richest person in the world, surpassed only by Elon Musk. Instead, Forbes esteem that Priem’s ​​current assets are around $30 million, which gives him enough to live without pressure, although he acknowledges that “I did something crazy. And I wish I had kept some more shares.” Philanthropy and a clock that reminds you of NVIDIA twice a day Currently, Priem lives in a large house in California, in an area with unreliable cell coverage. He has a private plane, but he uses it only four times a year to travel home. alma mater: he Rensselaer Polytechnic Instituteto which since 2001 it has been making regular donations that now total more than 275 million dollars. As he explained, philanthropy gives him “purpose and sanity.” His family foundation is dedicated to financing educational and innovation projects in areas such as art, science and technology, currently has about $160 million in assets and plans to cease operations in 2031. According to collected FortuneCurtis Priem thinks about NVIDIA at least twice a day: when he puts on and when he takes off his Omega Speedmaster X-33 Mars, a watch that NVIDIA itself gave him on the occasion of his fifth anniversary with the company. Meanwhile, the only one of the three founders who is still in the company, Jensen Huang, accumulates a net worth of about $157 billion with just a 3% stake. AND Chris Malachowskythe other co-founder, continues as senior vice president of NVIDIA, with a net worth that, although unknown exactly, places him in the category of billionaire… although not at the levels that Priem could be. In Xataka | Jensen Huang has done something highly paranormal in Silicon Valley: being in favor of more taxes Image | RPINVIDIA

Not collecting the shared shares of the Gordo de Navidad correctly can cost you a lot of money

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El Gordo de Navidad is much more than a lottery draw. It is a cultural tradition that has taken root in Spain, causing many people to share tenths with family, friends or co-workers as a symbol of hope and good wishes sets. However, this gesture of good will, so common these days, can become a serious problem if the prize is not collected correctly. The Technicians of the Ministry of Finance (Gestha) they insist in which the way of collecting and distributing the prize is key to not ending up paying more taxes than necessary nor face subsequent tax penalties. Treasury is one more to distribute. In the Christmas Lottery, prizes over 40,000 euros are taxed at 20% on the part that exceeds that amount, so that a tenth awarded with the Gordo de Navidad (400,000 euros) becomes 328,000 euros net for the winner and 72,000 euros for the Treasury. Aitor Fernández, head of the tax area of TaxDownexplains that “the first 40,000 are always exempt. That leaves us with a total of 360,000 euros on which the 20% tax is applied,” and remembers that the bank already delivers the money with the withholding applied, so that the winning person directly receives the net amount. How to collect a shared tenth without fears. The Tax Agency recommends that, when a tenth is shared by several people, all participants identify themselves at the time of collection or designate a representative with notarial power to certify the identity and the percentage of prize that corresponds to each participant. Fernández details that the banking entity is in charge of taking the data of “how many are the winners, how it is distributed and is in charge of settling the tax before the Administration, giving each beneficiary their already net part.” If all the participants are identified, the financial institution distributes the exemption of the first 40,000 euros among all of them and applies to each one the corresponding withholding on the part of the prize that corresponds to them, in proportion to their percentage. Thus, they all appear as beneficiaries before the Treasury, which can verify that each one has supported 20% of what exceeds 40,000 euros without there being any double taxation or suspicion of donations covert The mistake that one collects and then distributes. The TaxDown expert warns that the greatest risk appears when a single participant collects the tenth in his name without leaving a record that this prize will be distributed later, and then distributes the money through transfers to the rest. “It is a mistake that can be made and should be avoided at all costs,” emphasizes Fernández. In that case, both the 40,000 euro exemption and the 20% withholding apply only to the person listed as the prize holder, while subsequent movements can be seen as cash gifts. As Fernández details, for the Tax Agency “subsequent transfers corresponding to a hypothetical distribution would be considered donations, which consequently implies that they are taxed.” This means that whoever receives the money could have to pay the Inheritance and Donation Tax, with the added problem that many autonomous communities only reduce this tax among first-degree relatives, while among friends, unmarried couples or other distant relatives the tax cost can skyrocket. A prize free of charge. Regarding the treatment of the prize in personal income tax, the TaxDown tax expert recalls that, once the withholding corresponding to the special tax Regarding lotteries, the amount obtained is not taxed again in the Income Tax return and does not affect access to scholarships or aid that depend on income, although it may influence the Wealth Tax of those who are obliged to present it. Fernández emphasizes that “what they pay us is what we can dispose of” and that there will only be new taxation if that money is invested and generates interest or capital gains, which, then yes, will have to be declared in the personal income tax as capital gains, but not for the money received from the lottery. For this reason, the expert remembers that it is best not to rush when investing that money and it is best to think about it calmly. At the end of the day, letting it “rest” is not going to entail an additional tax expense. In Xataka | Why do millionaires like Zuckerberg and Gates decide not to leave all their money to their children? Image | Flickr (Aiaraldea Gaur eta Hemen)

Seagate shares soaring

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A picture, they say, is worth a thousand words. Here is that image. So far this year Seagate shares have gained 148%, and Western Digital shares have gained 156%. Source: Google Finance. These two graphs show the evolution of Seagate and Western Digital shares so far this year. The first has grown 148.38% on the stock market in the last ten and a half months. The second, a little more: 156.09%. Both companies are the major players in the field of traditional hard drives. They divide the market equally (approximately 40% share each) along with Toshiba (approximately 20%), but that market seemed to have been relegated to the background, correct? Incorrect. A second youth for the traditional hard drive It is true that SSD units are the clear protagonists due to their performance and the fact that their prices have not stopped falling in recent years, but hard drives continue to be the absolute champions of capacity. AND that matters a lot (a lot) in the world of AI. The reason is obvious: AI data centers make use of thousands of advanced GPUs both for model training and inference, but everything we say to ChatGPT, Gemini or Claude is stored, and we also have to save the images, videos or documents that we upload to interact with those AI models. There are terabytes and terabytes of content who need an efficient and economical storage medium. And that’s where hard drives come in. If you want to store a lot of data, these drives are the clear choice. Both Seagate, Western Digital and Toshiba continue to offer continuous advances to bring together more and more data on their drives. In recent months we have seen hard drives that, thanks to HAMR technology, reach an amazing 36 TB. The price, which is around 700 euros, is almost ridiculous considering that capacity: less than 20 euros per TB. There is nothing even remotely similar in the world of SSD units: there it is normal to find 8 TB units at most, although it is true that some companies prepare mammoth 256 TB units that have not reached the market and will probably have exorbitant prices. That has caused the demand for traditional hard drives to skyrocket again when it seemed that this technology could go out of fashion. This is exactly what these two firms have taken advantage of, as they are experiencing a surprising new golden age. The gigantic investment in data centers benefits both companies, because they too will benefit from spectacular demand into storage units for those data centers. And if everything goes as it seems—and the theoretical bubble does not burst— the short-term future looks especially rosy for both companies. In Xataka | If the question was how the US was going to get rare earths after China’s veto, the answer is: hard drives

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