Luke Vargas

Sam, thanks as always.

Thanks for having me.

As Sam mentioned, a jury is currently deliberating a similar case in Los Angeles, in addition to more than 2,000 lawsuits pending in federal court.

A Meta spokesman said the company disagrees with the verdict in New Mexico and plans to appeal.

As part of yesterday's verdict, Meta was ordered to pay $375 million in civil penalties.

It made 160 times that amount of revenue in the most recent quarter.

And if Meta has its way, it could be making substantially more money in the next five years.

The company is rolling out a new stock incentive program for top execs that could see some earn hundreds of millions of dollars if its market cap tops more than $9 trillion by 2031, a massive leap from its current $1.5 trillion.

Meta has leaned heavily on stock awards amid the AI race, with a journal analysis finding that cash costs tied directly to those awards consumed 96% of its free cash flow last year.

Shares in British semiconductor designer Arm Holdings have soared off hours after it announced plans to sell its own chips for the first time, putting it into direct competition with longtime customers like NVIDIA and Alphabet.

The new chip has been developed with Meta for use in data centers, with OpenAI, SAP, and Cloudflare also signing on as customers.

Arm designs power nearly every smartphone and tablet.

Meanwhile, South Korean chip giant SK Hynix is eyeing Wall Street.

The company plans to list in the U.S.

later this year, looking to tap into global cash to fuel its high-end AI chip production.

The exact size and timing of the listing is still under wraps, with SK Hynix saying it'll make a final decision on whether to list after the SEC's review and considering market conditions.

And I can't believe I'm saying this, but the maker of a toothy elf named Labubu has seen its profits quadruple to nearly $2 billion after the toy became a global status symbol.

China's PopMart specializes in so-called blind boxes of collectible toys where you don't know which character is inside until you open it.

Well, despite massive sales growth, investors appear worried that the company won't be able to keep up the momentum with its stock tumbling more than 20% this morning.

Coming up, a federal judge appears to side with Anthropic as it challenges the Pentagon's labeling of it as a national security risk.