• This $21.7 million ranch for sale in Montana once served as a hideout for a Soviet pilot who defected in a MiG-25. Take a look.

    Green hills with mountains
    Rocking Chair Ranch is located in Philipsburg, Montana.

    • Rocking Chair Ranch in Montana was listed for sale at $21.7 million.
    • The ranch once housed Viktor Belenko, a former Soviet Union fighter pilot who defected to the West.
    • Belenko defected with a MiG-25 and revealed Soviet military secrets before living in Montana.

    A working Montana ranch that recently hit the market for $21.7 million has a unique history, once serving as a hiding place for a Soviet Union pilot who defected to the West.

    Rocking Chair Ranch, located in Philipsburg, Montana, in the western part of the state, spans more than 7,230 acres and includes a cattle operation, meadows, forest, rangelands, agricultural fields, and a semi-private trout fishery.

    Green fields, mountains in background, buildings in foreground
    The ranch has been in the same family for over seven decades.

    The property, which has a historic five-bedroom home and other buildings, has been in the same family for over 70 years. The Vietor family even unknowingly housed Viktor Belenko, a former Soviet Union fighter pilot.

    In 1976, Belenko defected and flew to Hokkaido, Japan, in a MiG-25, a new, powerful Soviet aircraft that was feared by the West. Belenko had been serving in the Soviet Union's Air Defense Forces but "felt he was being treated like an expendable cog in a creaking war machine," The New York Times wrote after his death last year.

    Cows on the ranch
    There is an active cattle operation on the ranch.

    "I have been longing for freedom in the United States," Belenko said, according to Japanese police. "Life in the Soviet Union has not changed from that existing in the days of Czarist Russia, where there had been no freedom."

    After months of planning, Belenko finally defected during a training exercise over the Sea of Japan and was quickly handed over to the US, along with the coveted MiG-25. US officials studied and deconstructed the aircraft before sending the components back to the Soviet Union.

    Home on the ranch
    Buildings on the property include a five-bedroom home.

    The MiG-25 turned out not to be as powerful as the West feared, though Belenko also shared important information about the morale among Soviet soldiers that resembles some of the reporting about Russia's armed forces today: poor living conditions, scarce food, and harsh punishments.

    Belenko was praised in the US and received asylum. He spent a couple years in Washington, DC, and eventually ended up at Rocking Chair Ranch, though with an undercover identity assigned by the CIA, Mansion Global reported. The CIA agent who escorted him from Japan to the US knew the Vietor family.

    Horses on the ranch
    Rocking Chair Ranch spans meadows, forests, and rangelands.

    "As a gift, the CIA asked him where he wanted to live, and he said somewhere in the western part of the country on a ranch," Willy Vietor, patriarch of the Victor family, told Mansion Global. "The CIA agent who knew my parents came up with us."

    Belenko went by Viktor Schmidt when he got to Montana, and was pretending to be a former trade representative from Russia.

    Green fields with creek
    The property is located an hour and 15 minutes from Missoula.

    Vietor told Mansion Global Belenko was put to work on the ranch and first lived in a guest bedroom of the main house.

    "After he had been with us about a year, we connected the dots and realized he was one of the most valuable defectors the US had ever had," Vietor said.

    Fields with irrigation
    The ranch has irrigated fields.

    He also told the outlet that Belenko would occasionally take trips to the East Coast and when asked why he was going, the former pilot would reply, "spooky stuff."

    Vietor told Mansion Global Belenko left the ranch in 1983 but that he stayed in touch with their family.

    Person fly fishing
    There is a semi-private trout fishery on the ranch.

    Belenko received US citizenship in 1980 by an act of Congress and lived in several small towns throughout the midwest and worked as an aerospace consultant, according to the Times. He died in September 2023 at a senior living facility in Illinois at age 76.

    Rocking Chair Ranch, located an hour and 15 minutes from Missoula, is next door to The Ranch at Rock Creek, a luxury dude ranch that's considered one of the most expensive hotels in the US.

    Wild deer on ranch
    Wildlife frequently pass through the ranch property.

    Read the original article on Business Insider
  • Stephen Colbert said Joe Biden debated ‘as well as Abraham Lincoln, if you dug him up right now’

    Joe Biden, Abraham Lincoln and Stephen Colbert.
    Joe Biden, Abraham Lincoln and Stephen Colbert.

    • "The Late Show" host Stephen Colbert has thoughts on the bad Biden debate.
    • "I think that Biden debated as well as Abraham Lincoln, if you dug him up right now," he joked.
    • It was a shame that "Biden's shakiness allowed Trump to get away with 90 minutes of lies, racism and weird golf brags," Colbert added.

    In a monologue laden with wisecracks, "The Late Show" host Stephen Colbert gave his take on President Joe Biden's abysmal debate performance.

    In a clip of the show posted on his Instagram on Monday, he said that Biden is a "great president" and it was a shame that "Biden's shakiness allowed Trump to get away with 90 minutes of lies, racism and weird golf brags."

    Colbert said Biden's bad showing has become the reason "why a lot of people are saying this was the worst debate performance of all time."

    "But I don't think that's fair. I think that Biden debated as well as Abraham Lincoln, if you dug him up right now," he joked.

    Colbert also talked about Biden's mental capabilities, which have Democrats and their donors wondering if he is fit to run for reelection.

    He said: "So, should he stay? Should he go? Who am I to recommend? I don't know what's going on in Joe Biden's mind."

    "Something I apparently have in common with Joe Biden," he added, drawing laughter from the audience.

    Biden is facing mounting pressure from a growing number of rich Democrats who are pulling back their support for Biden over concerns for his fitness to run, such as Netflix cofounder Reed Hastings and Disney's co-founder Abigail Disney.

    But the president has declared that he will stay in the race despite pressure on him to quit.

    Anonymous sources told Politico that during a Zoom call with his staffers on Wednesday, he said: "Let me say this as clearly as I possibly can — as simply and straightforward as I can: I am running."

    He's also said that only the "Lord Almighty" could make him step down.

    Representatives for Biden and Colbert didn't immediately respond to requests for comment sent outside regular business hours.

    Read the original article on Business Insider
  • Whoopi Goldberg says she’d vote for Biden even if he ‘pooped his pants’ or ‘can’t put a sentence together’

    "I don't care if he's pooped his pants. I don't care if he can't put a sentence together. Show me he can't do the job and then I'll say, okay, maybe it's time to go," Whoopi Goldberg (left) said of President Joe Biden (right).
    "I don't care if he's pooped his pants. I don't care if he can't put a sentence together. Show me he can't do the job and then I'll say, okay, maybe it's time to go," Whoopi Goldberg (left) said of President Joe Biden (right).

    • Whoopi Goldberg says she isn't bothered by Joe Biden's recent debate with Donald Trump.
    • "I have poopy days all the time. I step in so much poo you can't even imagine," she said on Monday. 
    • Goldberg said that people should give Biden a chance and wait for his follow-up debate with Trump.

    President Joe Biden's stumbles and gaffes might have fueled calls for him to drop out of the election, but Whoopi Goldberg says she's still backing the 81-year-old.

    "I don't care if he's pooped his pants. I don't care if he can't put a sentence together," the cohost of ABC's "The View" said in an episode that aired Monday. "Show me he can't do the job and then I'll say, okay, maybe it's time to go."

    Goldberg, 68, said that people should give Biden a second chance even though he underperformed at his presidential debate with former President Donald Trump on June 27.

    "I have poopy days all the time. I step in so much poo you can't even imagine. Now, I'm not running the world, but I don't know anybody who doesn't step in stuff at some point," Goldberg added.

    But floundering at his second debate appears to be a redline for Goldberg, who said that she would stop supporting Biden if he flops again. Trump and Biden's follow-up debate is set to take place on September 10.

    "So I'm just simply saying, yeah, there are two debates. And if he can't do what he needs to do for the second debate, I'll join any crew that says get rid of him," Goldberg continued.

    https://platform.twitter.com/widgets.js

    The presumptive Democratic nominee has faced growing calls for him to step down following last month's presidential debate. Biden, however, has repeatedly brushed aside concerns over his age and mental acuity.

    On Monday, Biden sent a letter to congressional Democrats where he reiterated his plans to stay in the race.

    "The question of how to move forward has been well-aired for over a week now. And it's time for it to end," Biden wrote. "Any weakening of resolve or lack of clarity about the task ahead only helps Trump and hurts us."

    "It's time to come together, move forward as a unified party, and defeat Donald Trump," the letter continued.

    https://platform.twitter.com/widgets.js

    Representatives for Biden didn't immediately respond to a request for comment from BI sent outside regular business hours.

    Read the original article on Business Insider
  • This insider just bought a bucketload of NAB shares

    A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares

    Investors who own the ASX 200 bank share National Australia Bank Ltd (ASX: NAB) have more than a few reasons to be smiling today.

    For one, the NAB share price is having a solid Tuesday so far, currently up a happy 0.64% at $35.56 a share.

    But NAB shares have also had one of their best years in quite a long time over the past 12 months. A year ago, this ASX bank was going for $25.64 a share. That means investors have enjoyed a near 39% gain since July 2023. The shares are also up a healthy 15.21% in 2024 to date.

    Check all that out for yourself below:

    If we add on the returns from NAB’s generous dividends, we’re looking at a 12-month gain well north of 40%. And that’s before we even factor in the full franking credits from NAB’s dividends.

    Needless to say, NAB shareholders can’t ask for much better than this.

    But even so, there’s another piece of good news for NAB shareholders to digest this July. That would be a massive insider buy for this bank stock.

    NAB insiders buy up shares

    According to an ASX filing from 3 July earlier this month, one of NAB’s directors has picked up a significant parcel of new shares.

    The filing reveals that NAB board member and non-executive director Sarah Carolyn Kay picked up an additional 2,000 NAB shares on 3 July in an on-market trade. Kay spent $70,880 on this trade, implying that she paid an average share price of $35.44 for those 2,000 shares of stock.

    This trade increases Kay’s total NAB shareholding to 6,182 shares. At today’s share pricing, that parcel would be worth just under $220,000.

    Kay has been on NAB’s board since July 2023. In May, she purchased 1,500 NAB shares, paying $34.75 a share.

    But Kay isn’t the only NAB insider that’s been buying up shares in 2024.

    May was a busy month for these insiders. Another board member in non-executive director Alison Kitchen purchased 4,380 NAB shares back on 7 May for a total sum of $148,920. That implies a purchase price of $34. Kitchen is now the proud owner of 6,120 NAB shares in total.

    Christine Fellowes, another non-executive director, also bought up some shares on 8 May. She purchased 1,457 shares, paying $49,931.39 for the privilege. That works out to be an average buy price of $34.27. Fellowes now holds 4,895 NAB shares in her name.

    All of these directors would now be glad they bought, considering NAB shares are trading at a higher level today than all of these purchase prices.

    Investors of all stripes usually like to see management and insider figures buy up shares of the companies they are well-paid to run. It aligns their financial interest closer to other shareholders. It also ‘puts the money where the mouths are’ by showing to investors that they have some skin in the game.

    So no doubt NAB shareholders will welcome all of this news. But let’s see where the shares of this ASX 200 bank stock go from here.

    The post This insider just bought a bucketload of NAB shares appeared first on The Motley Fool Australia.

    Should you invest $1,000 in National Australia Bank Limited right now?

    Before you buy National Australia Bank Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and National Australia Bank Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Sebastian Bowen has positions in National Australia Bank. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Better megacap stock: Nvidia vs. Microsoft

    A woman walks along the street holding an oversized box wrapped as a gift.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    Let’s face it: 2024 has been all about the megacaps. Nvidia (NASDAQ: NVDA) is up 147% year to date; Meta Platforms is up 44%; Alphabet is up 33%.

    Moreover, Nvidia, Apple, Microsoft, Amazon, Alphabet, and Meta Platforms now boast a combined market cap of $15.6 trillion. That’s roughly equivalent to the size of the Eurozone economy, which has an annual gross domestic product of $15.4 billion, according to the latest estimates from the World Bank.

    So, let’s compare two of the best megacaps, Nvidia and Microsoft (NASDAQ: MSFT), to see which is better positioned to rule the second half of 2024 — and beyond.

    Nvidia

    No company has experienced a more remarkable growth in its market cap over the past two years than Nvidia. The semiconductor giant has added a staggering $2.7 trillion in value, catapulting it to the position of the most valuable company on Earth, if only briefly.

    Its rise is almost entirely thanks to the surge in demand for artificial intelligence (AI) and the hardware behind it. Nvidia designs graphics processing units (GPUs). These powerful devices are often linked together by the thousands — even hundreds of thousands — within data centers to help train the latest and greatest AI models.

    While there are other companies in the GPU design space, Nvidia enjoys several key competitive advantages. The trust and familiarity AI developers have with Nvidia’s GPUs and its software make it challenging for them to switch to another supplier. Moreover, Nvidia’s extensive experience in GPU design prior to the AI boom gives it a unique edge over its competitors.

    Microsoft

    Despite the attention garnered by Nvidia’s rapid ascent, it’s important not to overlook Microsoft’s impressive stock performance. The company once again holds the title of the most valuable company on Earth, a position it regained after briefly being overtaken by Nvidia. To maintain this lead, Microsoft is demonstrating its adaptability to the evolving tech landscape, particularly the AI revolution.

    On that front, Microsoft has already begun integrating AI into its signature software applications. It now offers a generative AI assistant through its Microsoft Copilot add-on, which can analyze data, respond to queries, create images, and generate code.

    What’s more, Microsoft diverse business segments provide a layer of protection, should the AI revolution falter. The company has a massive cloud services unit and a successful gaming division among various other business segments.

    Which stock is a better buy in the second half of 2024?

    Simply put, both Nvidia and Microsoft are outstanding companies. They generate billions in revenue, profits, and free cash flow. They’re also led by some of the top CEOs on the planet: Satya Nadella at Microsoft and Jensen Huang at Nvidia.

    However, there are differences to evaluate.

    For one, Nvidia’s valuation is approaching record highs. Its price-to-sales (P/S) ratio is now 39x more than double its 10-year average of 15x.

    Meanwhile, Microsoft’s P/S ratio is also historically high at 14x. However, that value is less than half of Nvidia’s on an absolute basis.

    MSFT PS Ratio data by YCharts

    In other words, both stocks are historically expensive, but Nvidia is far more costly in a head-to-head comparison.

    At any rate, the rapid growth of the GPU market is what investors are counting on to bring Nvidia’s valuation down. And while those growth estimates are impressive (analysts expect Nvidia’s sales to rise 98% over last year), any signs of slowing growth could lead to a sharp sell-off in Nvidia shares.

    In conclusion, I prefer Microsoft, given the stock’s more reasonable valuation at current levels. That said, long-term Nvidia investors shouldn’t bail on the stock now. Rather, they should remember that one of the keys to successful buy-and-hold investing is to let winners run. 

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    The post Better megacap stock: Nvidia vs. Microsoft appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Microsoft right now?

    Before you buy Microsoft shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Microsoft wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Jake Lerch has positions in Alphabet, Amazon, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Meta Platforms, Microsoft, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Bell Potter says these ASX 200 shares can deliver ~30% returns

    If you’re on the hunt for some big returns for your portfolio, then you may want to check out these ASX 200 shares in this article.

    That’s because Bell Potter has named them as buys and is tipping them to deliver mouth-watering returns over the next 12 months. Here’s what the broker is saying about them:

    Amotiv Ltd (ASX: AOV)

    Bell Potter remains very positive on Amotiv, which was until recently known as GUD Holdings.

    It is a consumer and industrial products company primarily focusing on automotive aftermarket parts and accessories. For automotive aftermarket products, its brands include Ryco, Wesfil, Goss, Brown and Watson. And for 4WD accessories, it operates under the APG brand.

    Bell Potter likes this ASX 200 share due to its undemanding valuation and positive outlook. It explains:

    We are Buy-rated on Amotiv and consider it to be fundamentally a good business and we note upside may exist from APG’s geographic expansion which is not in our earnings forecasts. The legacy auto business has been reasonably strong to date in an environment where there is increased risk around service trade down and deferral. The stock’s valuation is not demanding at 13x FY25 PE. Overall, our Buy rating for AOV is predicated on the relative resilience of the legacy auto business and improving momentum in new car sales, which should be favourable for APG’s earnings.

    The broker currently has a buy rating and $12.80 price target on its shares. This implies potential upside of almost 27% for investors. The total return stretches to 30% including dividends.

    Capricorn Metals Ltd (ASX: CMM)

    Another ASX 200 share that could offer big returns is Capricorn Metals. It is a gold exploration and development company whose primary asset its 100%-owned Karlawinda Gold Project (KGP) in Western Australia.

    Bell Potter has been very impressed with the quality of the KGP operation and management’s strong track record. It explains:

    CMM’s management team has a track record of capital efficient project funding, development, commissioning and operation. In our view, FY25 and FY26 should benefit from higher revenue and EPS increases by 32% and 6% respectively. CMM is a sector leading gold producer with a strong balance sheet, a management team with an excellent track record of delivery and clear organic growth options to lift group production to 270kozpa.

    The broker currently has a buy rating and $6.53 price target on its shares. This suggests that its shares could rise almost 30% from current levels.

    The post Bell Potter says these ASX 200 shares can deliver ~30% returns appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Capricorn Metals Ltd right now?

    Before you buy Capricorn Metals Ltd shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Capricorn Metals Ltd wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Chip giant TSMC crosses $1 trillion market cap, riding on the back of Nvidia’s gains

    Visitors taking photofs at a TSMC booth at the 2024 World Semiconductor Congress in Nanjing, China.
    TSMC's stock is benefiting from the wave in artificial intelligence.

    • Shares of upstream chip companies TSMC and ASML have surged on the back of Nvidia's gains.
    • TSMC's market cap briefly crossed $1 trillion on Monday.
    • The stock price of ASML — Europe's third-most valuable company — crossed 1,000 euros apiece.

    Tech giant Nvidia has been riding the artificial intelligence wave that made it one of the world's most valuable companies.

    Now, Nvidia's suppliers and upstream partners are riding on the hype, too.

    Taiwan Semiconductor Manufacturing Company, or TSMC, ADR shares on the New York Stock Exchange briefly crossed the $1 trillion valuation mark on Monday after gaining as much as 4.8%. The stock is up nearly 80% this year to date.

    TSMC's shares on the Taiwan Stock Exchange were 0.5% higher at 1,040 New Taiwan Dollars apiece, or $32.26 apiece, at 10:55 a.m. local time on Tuesday.

    TSMC's stock surge on Monday came after Morgan Stanley said it expects the chip giant to hike full-year sales estimates next Thursday when it announces second-quarter earnings.

    TSMC produces, by some estimates, 90% of the world's most advanced processor chips and is the sole supplier of key advanced chips to Nvidia and Apple, among others.

    "Our latest supply chain checks indicate that TSMC is delivering a message that leading-edge foundry supply could be tight in 2025 and customers may not get sufficient capacity allocation without 'appreciating TSMC's value,'" wrote Morgan Stanley analysts led by Charlie Chan on Sunday.

    The analysts called the strategy "hunger marketing."

    Last month, TSMC CEO C.C. Wei hinted that the company was considering a price hike for its products.

    Meanwhile, Nvidia CEO Jensen Huang has said there's so much demand for his company's chips that he has to allocate them "fairly."

    It's not just TSMC that's reaping the benefits of Nvidia's meteoric rise.

    Dutch company ASML, TSMC's equipment supplier, also got a lift with shares briefly crossing 1,000 euros, or $1,082, apiece for the first time on Monday.

    ASML shares closed 0.5% higher at 997.90 euros apiece on the Amsterdam Stock Exchange on Monday and are 42% higher year to date.

    ASML's stock is now worth 395 billion euros — making it the third-most valuable company in Europe after Danish pharma giant Novo Nordisk and French luxury behemoth LVMH.

    ASML reports second-quarter results on July 17.

    Read the original article on Business Insider
  • Biden’s doctor says 8 White House visits by Parkinson’s expert were for routine military staff neurology clinics

    Joe Biden.
    President Joe Biden.

    • The New York Times reported that an expert on Parkinson's disease regularly visited the White House.
    • In a Monday letter, Joe Biden's physician said the expert's visits weren't for the president.
    • Dr. Kevin Cannard hosted neurology clinics for active-duty White House staff, per Biden's doctor.

    In a letter released late Monday, Joe Biden's physician said the reason a Parkinson's expert visited the White House monthly was to host routine neurology clinics for active-duty staff.

    Kevin O'Connor, Biden's physician, wrote the letter to address reporting by The New York Times about the repeated visits by Dr. Kevin Cannard, a neurologist specializing in movement disorders.

    The Times' report, published Monday amid growing critiques of Biden's age and capacity to run for reelection, relied on visitor logs to track eight visits by Cannard in as many months but did not specify why he'd traveled to the White House so often.

    O'Connor wrote that Cannard "was the neurological specialist that examined President Biden for each of his annual physicals" but stressed that Cannard's monthly visits are not related to the president.

    "Prior to the pandemic, and following its end, he has held regular Neurology Clinics at the White House Medical Clinic in support of the thousands of active-duty members assigned in support of White House operations," O'Connor wrote.

    He added: "Many military personnel experience neurological issues related to their service, and Dr. Cannard regularly visits the WHMC as part of this General Neurology practice."

    O'Connor reiterated that Cannard's findings related to the president's health have been made public following each annual physical, adding that Biden "has not seen a neurologist outside of his annual physical."

    Representatives for the Biden administration did not immediately respond to a request for comment from Business Insider.

    Read the original article on Business Insider
  • Nicolas Cage says he’s ‘terrified’ of AI: ‘They’re just going to steal my body and do whatever they want with it’

    American actor Nicolas Cage at Cannes Film Festival 2024. The Surfer Photocall. Cannes (Francia), May 17th, 2024
    Nicolas Cage is not a fan of AI.

    • Nicolas Cage is voicing his concerns about the use of artificial intelligence in Hollywood.
    • "I mean, what are you going to do with my body and my face when I'm dead?" Cage told The New Yorker.
    • Cage's comments come amid growing concerns over the impact AI has on jobs across various industries.

    Nicolas Cage, 60, is speaking up against the use of artificial intelligence in Hollywood.

    In an interview with The New Yorker published on Monday, Cage voiced his concerns about having his likeness manipulated by AI after sharing that he was going to "get a scan done" for a show and a movie he was working on.

    "Well, they have to put me in a computer and match my eye color and change — I don't know. They're just going to steal my body and do whatever they want with it via digital AI," Cage told The New Yorker. "God, I hope not AI. I'm terrified of that. I've been very vocal about it."

    He went on to share his discomfort with the direction that creative industries are heading toward.

    "And it makes me wonder, you know, where will the truth of the artists end up? Is it going to be replaced? Is it going to be transmogrified? Where's the heartbeat going to be?" Cage said.

    What's more concerning is that studios can have control over his likeness even after he dies, he added.

    "I mean, what are you going to do with my body and my face when I'm dead? I don't want you to do anything with it!" he said.

    The "National Treasure" actor is no stranger to having his likeness manipulated for a film.

    In November 2023, the actor told Yahoo Entertainment that his Superman cameo in "The Flash" was different from what he had filmed.

    "First and foremost, I was on set," Cage said. "What I was supposed to do was literally just be standing in an alternate dimension, if you will, and witnessing the destruction of the universe."

    But that wasn't the scene he saw in the final movie.

    "When I went to the picture, it was me fighting a giant spider. I did not do that. That was not what I did," Cage said.

    The actor said he wasn't aware of what had happened, although he doesn't think it was AI.

    But then he offered his thoughts on AI: "AI is a nightmare to me. It's inhumane. You can't get more inhumane than artificial intelligence."

    The use of AI in Hollywood has been a controversial topic in recent years and was a key issue of contention during the 2023 SAG-AFTRA strike, which lasted 118 days.

    Cage isn't the only actor who has spoken up against the use of AI in Hollywood.

    In September 2023, Sean Penn argued that studio execs who want to create AI versions of him should be willing to let him do the same to their daughters.

    "So you want my scans and voice data and all that. OK, here's what I think is fair: I want your daughter's, because I want to create a virtual replica of her and invite my friends over to do whatever we want in a virtual party right now. Would you please look at the camera and tell me you think that's cool?" Penn told Variety.

    And not just the acting industry is up in arms over AI replacing jobs.

    A 2023 Goldman Sachs report found that generative AI could lead to "significant disruption" in the labor market and affect around 300 million full-time jobs globally. The study also found that white-collar workers, particularly US legal workers and administrative staff, are most likely to be affected by new AI tools.

    A representative for Cage did not immediately respond to a request for comment sent outside regular business hours.

    Read the original article on Business Insider
  • Up 327% in a year, the Zip share price just smashed new multi-year highs!

    A young man in a retail shop pays for his purchases using a card

    The Zip Co Ltd (ASX: ZIP) share price is at it again.

    And by ‘it’, I mean notching new multi-year highs.

    Shares in the All Ordinaries Index (ASX: XAO) buy now, pay later (BNPL) stock closed yesterday trading for $1.75. Currently, shares are changing hands for $1.76, up 0.7%.

    As you can see on the chart below, this marks a new two-plus year high for the company.

    In fact, you have to go all the way back to February 2022 to find the Zip share price trading at higher levels.

    With another day in the green today, the Zip share price is now up 327% since this time last year. To put that in some perspective, that’s enough to turn a $5,000 investment into $21,350 in just 12 months!

    What’s been driving the Zip share price higher?

    While there’s still a long, long way to go for the Zip share price to potentially reset the $12.35 a share the BNPL stock was trading for on 19 February 2021, the company has clearly turned a corner over the past nine months.

    Part of that comes amid a change in management and strategy, shifting away from an uncompromising growth strategy to one focused on returning the company to profitability. That strategy is proving successful to date, with Zip’s losses continuing to narrow amid rising revenues.

    The company’s most recent quarterly results, Q3 FY 2024, came out on 16 April.

    Highlights included a 14.6% year on year increase in total transaction volumes (TTV). TTV came in at $2.4 billion for the three months.

    While the company’s Australian business hit some headwinds, its Americas business grew strongly, with TTV in the Americas up by 43.6% from Q3 FY 2023.

    And with Apple Inc (NASDAQ: AAPL) announcing in June that it was pulling its United States BNPL service, Apple Pay Later, investors may be optimistic about Zip’s American growth prospects in the year ahead.

    Then there are interest rates.

    BNPL stocks have proven highly sensitive to a higher rate environment, as witnessed by the huge sell-down in the Zip share price when global rates first bottomed and then began to rise from their historic lows in 2022.

    While Aussies may be waiting until 2025 for the first interest rate cut from the Reserve Bank of Australia, markets are increasingly pricing in at least one rate cut from the US Federal Reserve in 2024.

    Any easing by the Fed and other global central banks should come as welcome news to many companies, particularly those in the BNPL space. And it could help the Zip share price continue to outperform.

    The post Up 327% in a year, the Zip share price just smashed new multi-year highs! appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Zip Co right now?

    Before you buy Zip Co shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Zip Co wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple and Zip Co. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.