Rick Perry’s AI power startup Fermi already has a $16 billion market cap—and zero revenue

FortuneFriday, October 10, 2025 at 11:18:18 AM
Rick Perry’s AI power startup Fermi already has a $16 billion market cap—and zero revenue
Rick Perry's AI startup, Fermi, has made headlines with a staggering $16 billion market cap despite having no revenue. This raises questions about the valuation of tech startups and the influence of political affiliations, as Fermi is named after Donald Trump. The situation highlights the intersection of technology, politics, and investment, making it a noteworthy case in the evolving landscape of artificial intelligence.
— Curated by the World Pulse Now AI Editorial System

Was this article worth reading? Share it

Recommended Readings
Trump threatens to impose additional 100% tariff on China and scrap Xi talks
NegativeFinancial Markets
US President Donald Trump has escalated tensions with China by threatening to impose a staggering 100% tariff on Chinese imports, effective November 1 or sooner. This move comes in response to China's new export controls on rare earth elements, which are crucial for various industries. Trump's comments also cast uncertainty on his planned meeting with Chinese leader Xi Jinping during his upcoming trip to South Korea. This situation is significant as it could further strain US-China relations and impact global markets.
Donald Trump Threatens 100% Tariffs on China as Rare Earths Dispute Turns into Global Flashpoint
NegativeFinancial Markets
Donald Trump has escalated tensions with China by threatening to impose 100% tariffs on rare earths, a critical component in many modern technologies. This dispute highlights the fragile state of global trade relations and could have significant repercussions for the economy, affecting everything from electronics to renewable energy. As both nations grapple with these issues, the stakes are high, and the outcome could reshape international trade dynamics.
Wall Street Traders Jolted as Tariff War Flares, Rare Earths Rise
NegativeFinancial Markets
Recent trade tensions between the US and China have caused significant turmoil in the markets, leading to declines in stocks, oil, and cryptocurrencies. President Trump's warning of a potential increase in tariffs has left Wall Street rattled, especially after a week filled with concerns over a possible bubble in AI companies. However, amidst this chaos, rare earth stocks like MP Materials have seen a rise, highlighting the complex dynamics of the market and the ongoing importance of these materials in technology.
Trump Threatens China Tariffs, Sending Ripple Through Global Markets
NegativeFinancial Markets
US President Donald Trump has escalated tensions with China by threatening a significant increase in tariffs on Chinese goods, following Beijing's recent export controls on rare-earth minerals. This move not only jeopardizes an upcoming meeting with Chinese leader Xi Jinping but also sent shockwaves through global markets, causing US stocks to plummet as investors sought refuge in bonds. The implications of these tariffs could lead to a further deterioration of US-China relations, impacting trade and economic stability worldwide.
Controversial burger chain closes all locations (blame ICE)
NegativeFinancial Markets
The controversial burger chain has shut down all its locations, attributing the closure to actions by ICE. This decision has sparked significant debate, especially given the chain's ties to the Trump brand. The closure not only affects employees and customers but also raises questions about the impact of immigration enforcement on businesses. As the political climate continues to shift, this situation highlights the ongoing tensions surrounding immigration policies and their real-world consequences.
Crypto Sees More Than $6 Billion in Liquidations
NegativeFinancial Markets
Cryptocurrency markets faced a significant downturn as prices plummeted following US President Donald Trump's announcement of a 100% tariff on China and new export controls on software. This sudden shift led to over $7 billion in liquidations within just an hour, highlighting the volatility and sensitivity of the crypto market to geopolitical events. Such drastic changes can shake investor confidence and impact the broader financial landscape.
Trump threatens 100% China tariffs as Beijing restricts rare-earth exports
NegativeFinancial Markets
President Donald Trump has escalated trade tensions by threatening to impose 100% tariffs on China, citing Beijing's recent restrictions on rare earth exports crucial for American industries. This move, which could take effect as soon as November 1, has already led to a sharp decline in Wall Street, reflecting investor concerns over the potential economic fallout. The situation underscores the ongoing friction between the US and China, which could have significant implications for global trade and economic stability.
'Tariff Roulette' Causing Uncertainty: DoubleLine's Sherman
NegativeFinancial Markets
The recent threat by President Donald Trump to significantly increase tariffs on China has created a wave of uncertainty in the financial markets, particularly impacting Wall Street. Jeff Sherman from DoubleLine Capital describes this situation as 'tariff roulette,' highlighting the unpredictable nature of trade policies and their potential consequences on the economy. This matters because such volatility can affect investor confidence and market stability, making it crucial for stakeholders to stay informed about these developments.
Shutdown Pain Ripples Through US Economy
NegativeFinancial Markets
The ongoing standoff between President Donald Trump and Congress has entered its second week, causing significant disruptions across the U.S. economy. With no resolution in sight, essential services like air travel, taxpayer assistance, and national parks are feeling the strain. Many federal agencies are resorting to a rolling blackout of services, only responding to emergencies as they try to conserve funds. This situation not only affects federal employees but also impacts countless Americans who rely on these services, highlighting the urgent need for a resolution.
Anduril Looks to Onshore Its Supply Chain
PositiveFinancial Markets
Anduril's CEO Brian Schimpf has emphasized the importance of strengthening the US manufacturing sector in light of potential new tariffs on China proposed by President Donald Trump. This move not only aims to mitigate risks associated with overseas supply chains but also highlights a growing trend towards domestic production, which could bolster the US economy and create jobs. Schimpf's insights on Bloomberg Tech shed light on the strategic shifts companies are making to adapt to changing trade policies.
Trump Threats Roil Stock Bulls ‘Complacent’ About Trade War
NegativeFinancial Markets
President Donald Trump's ongoing trade war is causing significant concern among stock market investors, who may have become too complacent about the potential impacts. As tensions rise, the uncertainty surrounding trade policies could lead to increased volatility in the markets, affecting both domestic and global economies. It's crucial for investors to stay informed and prepared for any sudden shifts.
Stocks Tumble as US, China Trade War Flares
NegativeFinancial Markets
The escalating trade tensions between the US and China have caused significant turmoil in the financial markets, leading to a sharp decline in stocks, oil, and cryptocurrencies. President Trump's warning of a potential increase in tariffs has rattled investors, resulting in the S&P 500 experiencing its worst day since April. This situation is crucial as it not only affects market stability but also raises concerns about the broader economic implications of a prolonged trade war.
Latest from Financial Markets
Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
NeutralFinancial Markets
A prominent Wall Street analyst has shared insights on the recent selloff in U.S.-China stocks, suggesting that this might be a strategic buying opportunity for investors. The commentary comes at a time when market volatility has raised concerns among traders, making it crucial for investors to assess the potential for recovery in these markets. Understanding the dynamics of this selloff is essential for making informed investment decisions.
Trump’s America powers ahead as Europe stalls
PositiveFinancial Markets
The article highlights how the American economy, under Trump's leadership, continues to show robust growth while Europe faces stagnation. This contrast is significant as it underscores the differing economic strategies and outcomes between the two regions, potentially influencing global markets and trade relations.
Is gold really a risk-free asset?
NeutralFinancial Markets
The article explores the notion of gold as a risk-free asset, questioning its reliability in uncertain economic times. While gold has traditionally been viewed as a safe haven, the piece highlights the complexities of market dynamics and the potential risks involved in investing in gold. Understanding these factors is crucial for investors looking to diversify their portfolios and safeguard their wealth.
Which Restaurant Brands Are Trending In 2H25?
NeutralFinancial Markets
As we move into the second half of 2025, various restaurant brands are gaining traction among consumers. This trend is significant as it reflects changing tastes and preferences in the food industry, highlighting how brands adapt to meet customer demands. Understanding these shifts can provide valuable insights for investors and industry stakeholders looking to capitalize on emerging opportunities.
China Flexed. Trump Hit Back. So Much for the Thaw.
NegativeFinancial Markets
Recent developments in U.S.-China relations have taken a turn for the worse, as President Trump has responded sharply to China's assertive actions. This escalation highlights the fragility of diplomatic efforts and raises concerns about future cooperation between the two nations. The situation is significant because it could impact global markets and international stability, making it crucial for observers to pay attention to how these tensions unfold.
French PM Lecornu under immediate pressure ahead of budget deadline
NegativeFinancial Markets
French Prime Minister Lecornu is facing intense pressure as the government approaches a critical budget deadline. This situation is significant because it highlights the challenges the administration faces in balancing fiscal responsibility with public expectations, and the outcome could have lasting implications for the government's stability and public trust.