XRP rebounds to $1.85 as VivoPower's acquisition of Ripple Labs shares boosts sentiment
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The sell-off in tech stocks reflects rising doubts about AI profitability, with Citadel stating that there is very little margin for error in AI trading. Grayscale noted that demand is parabolic, and capital expenditure presents a two-sided risk.
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On Monday, a U.S. judge dismissed Novo Nordisk's request to prohibit Eli Lilly from continuing to run advertisements for weight-loss drugs. The Danish pharmaceutical company argued that the ads were false and misleading, in a market with annual sales worth tens of billions of dollars.
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The market generally believes that if Tesla and SpaceX achieve a merger, it could drive up Tesla's stock price. However, Dan Levy from Barclays believes that the automaker's own business prospects also contain upward momentum, prompting the institution to upgrade Tesla's stock rating from "Neutral" to "Overweight."
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