As more workers use AI, companies face a growing risk that their proprietary information could be inadvertently plugged into tools like ChatGPT, increasing the chance of a damaging leak. That’s where startup Cyberhaven comes in.
The firm, which just raised $100 million at a $1 billion valuation, offers AI tools that keep a record of a company’s normal workflow and flag any potential abnormalities. For instance, it can alert IT if an employee uploads proprietary information to a non-work cloud account.
Cyberhaven is competing for a slice of an AI security market that’s expected to more than double to $255 million by 2027, per McKinsey & Company. Still, it’s not interested in being acquired. “We think there’s a huge market here and we think we’ve got really differentiated technology,” CEO Howard Ting told Forbes.
President Donald Trump unveiled his most sweeping tariff package yet, with a baseline 10% levy on all U.S. imports and higher rates for certain countries. Imports from China would face a 34% tax on top of the 20% levy already imposed, while goods from the European Union will be charged 20%, and a 46% tariff will be placed on products from Vietnam.
MORE: Leaders and government officials around the world sharply criticized Trump’s tariffs, including China’s commerce ministry, which warned of “resolute countermeasures.” European Commission President Ursula von der Leyen said the “global economy will massively suffer.” In the U.S., four GOP Senators crossed party lines to reject planned tariffs on Canada, but House Speaker Mike Johnson is seeking to prevent a House vote.
U.S. futures indexes fell sharply early on Thursday, led by a deep slide in major tech stocks, while global markets also faced a major selloff after the tariffs raised fears of a global trade war and recession. The benchmark S&P Futures dropped about 3.1%, Dow Jones Industrial Average futures fell 2.5%, and the tech-heavy Nasdaq 100 slumped 3.45% in premarket trading.
Right-wing media company Newsmax got a dose of reality after its massive gains post-IPO, plunging 77% Wednesday. Still, its $4.7 billion valuation remains loftier than a company with similar financials typically sees.
Last week, Elon Musk announced that his artificial intelligence company, xAI, purchased social platform X in an all-stock transaction, a deal that values the combined company at $113 billion, according to Musk. The move isn’t without criticism, but no one stands to benefit more than the world’s richest man, whose estimated 59% stake in the newly combined xAI Holdings is worth $66.4 billion—double the combined value of his stakes prior to the merger.
The trendy athletic apparel industry has plenty of competition, but Alo Yoga is standing out by winning over celebrities. Incorporating the brand’s famous fans into its marketing push has helped revenue for Alo’s parent company reach nearly $2 billion, Forbes estimates, and made founders Danny Harris and Marco DeGeorge billionaires.
A number of potential TikTok buyers have lined up just days before the deadline for the app to sell to an American buyer or face a U.S. ban, and Amazon and mobile technology firm AppLovin are the latest to make offers. Oracle has reportedly emerged as the leading contender, though President Donald Trump could delay the ban if a deal isn’t reached by the Saturday deadline.
A federal judge dismissed the corruption case against New York City Mayor Eric Adams, after some city officials claimed the DOJ sought to dismiss the case in exchange for Adams’ cooperation with President Donald Trump’s immigration policies. Adams faced federal charges of bribery and fraud over allegations he received illegal campaign donations from the Turkish government.
Multiple reports have indicated that Elon Musk may leave his controversial role with DOGE, with Trump reportedly telling members of his Cabinet and inner circle that the Tesla CEO will be “stepping back” in the coming weeks. As a special government employee, Musk can only work 130 days in a 365-day period, and he remains unpaid.
Amid alarming headlines targeting international students and reports of visa denials, smaller colleges that have thrived in part by attracting foreign students are preparing themselves for an uncertain future. “To say that institutions are extraordinarily anxious is an understatement,” says Angel Pérez, CEO of the National Association for College and Admissions Counseling.
DAILY COVER STORY
If Defense Secretary Pete Hegseth wants to text war plans from his cellphone, he might want to consult Steve Feinberg. It turns out that the billionaire investor, recently sworn in as Hegseth’s deputy secretary of defense, invested millions of dollars into a company named Privoro, which has been working alongside the military on cellphone cases that keep out hackers—and allow officials to carry their devices into sensitive areas.
Privoro is just one of many defense investments Feinberg made in the private sector, giving him insight into virtually every hot-button topic in modern warfare: drones, satellites, hypersonic missiles, artificial intelligence. Private and patriotic, Feinberg bet on such businesses through his Wall Street firm, Cerberus Capital Management, and out of his own pocket. Feinberg also surrounded himself with ex-government officials, including George H. W. Bush’s vice president and Barack Obama’s acting CIA director.
All of this makes the deputy secretary of defense something of an anomaly in the current administration. The president, who equates money with intelligence, stacked the top levels of government with billionaires, but none are as qualified for their jobs as Feinberg.
But in addition to his expertise, Feinberg also brings an arsenal of potential conflicts of interest. Officials often sell their holdings when they take office. The deputy secretary instead suggested he would hand his off to heirs and charities. Given that a family trust held many of his defense investments already—and he had previously donated to various causes—his way of divesting appears to be more of a progression in his estate planning than a clean break from his private investments.
Nonetheless, it’s enough separation to allow Feinberg, who has three daughters, to get around federal ethics laws.
WHY IT MATTERS “Pete Hegseth is off to a rough start in his tenure at the top of the defense department,” says Forbes senior editor Dan Alexander. “But Stephen Feinberg, a well-respected financier, offers reason for optimism—there is an adult in the room. Like all adults, however, Feinberg is not perfect. Will he save the defense department, or blow up in an ethical minefield?”
FACTS + COMMENTS
There are more than 3,000 members of Forbes’ latest World’s Billionaires list, though many have their primary residence in one of just 10 cities. Once again, New York City was home to the most billionaires, followed by Moscow, Hong Kong and London:
Nearly a quarter: The share of billionaires who live in one of the 10 cities
$759 billion: The combined net worth of New York City’s 123 billionaires
90: The number of listmakers in Moscow
STRATEGY + SUCCESS
Your 30s and 40s can often feel like a crossroads in your professional career—you may be reevaluating your definition of success and what once motivated you. Understand that your job title doesn’t define you, working harder doesn’t necessarily mean you’ll be noticed, and that soft skills are a key currency in the professional world. Don’t forget: While loyalty to a company is admirable, it shouldn’t come at the cost of stalling your career.
VIDEO
QUIZ
Nintendo announced that its new Switch 2 video game console will launch in June, but some consumers are balking at its higher price tag. How much will the system cost?
A. $399.99
B. $449.99
C. $487.97
D. $389.90
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.