FT says Apple’s CEO could step down as soon as 2026, Bloomberg disagrees

Late Friday, the Financial Times reported that Apple CEO Tim Cook, a 65-year-old who’s led the company for nearly 15 years, could be stepping down as early as next year. On Saturday, Bloomberg’s Mark Gurman, whose Apple reporting is considered gospel by many, pooh-poohed that timeline, saying that while Apple is readying succession plans, “I don’t get the sense anything is imminent as the @FT is claiming.”

Both the FT and Bloomberg have reported that Apple’s hardware chief, John Ternus, is likely next in line.

The stock is down about 1% premarket, as investors contemplate what Apple, which recently posted a superlative Q4 earnings report, would be like without its longtime supply chain guru.

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Rani Molla2h

Elon Musk runs an AI startup — now, so does Jeff Bezos, as he launches Project Prometheus

Jeff Bezos, the third-richest man in the world and the founder of Amazon, a company increasingly focused on AI, has created a new AI startup of which he will be co-CEO, according to The New York Times. The new venture, Project Prometheus, aims to use AI to engineer and manufacture automobiles and spacecraft. It also sounds quite a bit like Elon Musk’s AI startup, xAI.

Musk, the richest man in the world and the CEO of Tesla, a company increasingly focused on AI, also leads his AI startup and is progressively working on integrating its technology into his vehicle and space companies.

Musk’s space company is SpaceX, while Bezos’ is called Blue Origin. Musk owns social media company X, formerly Twitter, which is now part of xAI. Bezos owns media company The Washington Post. Bezos also has invested in an EV company, Slate Auto, which some see as a “Tesla killer.” Got it?

In other words, Bezos and Musk remain engaged in a billionaire version of “keeping up with the Joneses.”

Rani Molla

Keeping an AI out

11/14/25

Apple’s limited AI exposure is paying off again

Amazon, Google, Microsoft, and Meta are negative this month.

Rani Molla11/14/25

Tesla is back in the negative this year

After falling more than 6% yesterday in its biggest drop since July, Tesla is once again in negative territory for the year. Elon Musk’s company posted record earnings last month, buoyed by pulled-forward demand tied to the final quarter of US federal EV tax credits, but its margins slipped as steep discounts were used to clear inventory.

Now the stock, which only turned positive for the year in September, is under renewed pressure amid a broader tech and AI sell-off, as investors grow concerned that the Federal Reserve may pause its rate-cutting cycle. Adding to the drag are soft sales in Tesla’s second-largest market, China, and news that longtime bull Cathie Wood’s Ark Invest unloaded roughly $30 million in shares this week.

Rani Molla11/13/25

Meta overhauls Marketplace with AI insights and collaborative shopping

Meta announced Thursday that it’s giving its buy-and-sell platform, Marketplace — arguably the best part of Facebook and the most appealing to young people — a “glow up.” Each day in the US and Canada, one out of four Facebook daily active young adult users go to Marketplace, according to Meta. The overhaul includes the ability to create collections of listings you can share with friends or the public.

The site will also offer AI suggestions on what to ask sellers about your potential purchase. Unfortunately for all involved, the much-hated, easy-to-accidentally-press default message to sellers — “Hi, is this available” — remains unchanged.

Most promising, to us, for comedic purposes: “You can now react and comment directly on Marketplace listings, helping others learn about item quality and discover unique finds.”

Facebook Marketplace Gets a Glow Up

Most promising, to us, for comedic purposes: “You can now react and comment directly on Marketplace listings, helping others learn about item quality and discover unique finds.”

$15B

Rani Molla11/13/25

Tesla CEO Elon Musk’s other company, xAI, has raised $15 billion in its latest funding round, CNBC reports. That’s $5 billion more than the company had raised in that same round in September. Its valuation remains at a sky-high $200 billion.

Tesla shareholders recently voted to invest in xAI but, due to a large number of abstentions, the board has yet to approve the proposal.

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