Costco says thousands of its longtime hourly workers have built retirement accounts worth more than $1 million.
 

Costco is turning some checkout workers into millionaires. The company's chief financial officer says thousands of its hourly workers have built 401(k) retirement accounts worth more than $1 million, mostly by steadily contributing part of their paychecks over decades. A 401(k) lets workers set aside earnings into an investment account that grows over time, often with added contributions from an employer.

One longtime cashier who started decades ago earning under $6 an hour now makes $32.90 an hour and has himself surpassed the milestone. Costco says the pattern shows up broadly among workers who stay long term, a sign that steady saving and time in the market can matter more than a high salary.

Apple sued OpenAI for allegedly stealing trade secrets.
 

Apple is suing OpenAI for stealing trade secrets to build hardware. The company claims over 400 former employees jumped to OpenAI, with Apple alleging that departing employees were coached to evade security processes when leaving the company. OpenAI's hardware chief, a former Apple executive, allegedly directed job candidates who were still working at Apple to bring actual parts from Apple to their interviews for show-and-tell sessions.

This marks a dramatic flip from 2024, when the two companies partnered on iPhone features. Apple already replaced OpenAI with a different AI assistant this year and is now seeking damages and a court order to block OpenAI from using its confidential information.

Strategy abandoned its Bitcoin buy-and-hold model, selling $216 million as holdings plunged in value.

Strategy is breaking from the buy-and-hold-only approach that made it the largest public holder of bitcoin, selling $216 million worth of the cryptocurrency last week in its largest sale ever. The move helps fund promised dividends to shareholders and rebuild cash reserves instead of only adding to its stockpile. It follows a rough quarter: Strategy posted an $8.32 billion loss on its bitcoin holdings as the token fell 14% over three months and remains down more than 45% from a year ago.

Strategy's own shares have fallen about 75% over the past year, and the company bought most of its bitcoin at an average price well above today's level. The shift suggests that preserving cash now matters as much to Strategy as growing its bitcoin stockpile does.

SK Hynix debuted on the Nasdaq, raising $26.5 billion in one of the largest ever foreign listings on the US stock market.

SK Hynix began trading on the Nasdaq last week, raising $26.5 billion in one of the largest US listings ever by a foreign company. The chipmaker priced its American shares at $149 each, with investor demand strong enough to oversubscribe the offering several times over before trading began. The company plans to use the proceeds to expand production, including a new advanced packaging plant in Indiana.

Memory chips act like short-term storage in phones and computers, holding information a device needs quickly. Artificial intelligence systems need a more powerful version of that memory to process massive amounts of data at once, and demand has outpaced supply.

JPMorgan Chase posted record profits and revenue, signaling strong banking momentum despite economic headwinds ahead.

JPMorgan Chase posted its highest quarterly profit ever, earning $21.2 billion in net income as stock traders blew past expectations. The bank's stock-trading revenue jumped 86% from a year earlier to $6.03 billion, pushing total trading revenue to a record $12.1 billion. A long-held stake in Visa added another $4.6 billion to the bottom line, after JPMorgan cashed in part of the stake it has held for nearly two decades. Revenue climbed to $58 billion for the quarter, with every part of the bank's business posting record results.

Despite the strong results, CEO Jamie Dimon flagged a growing list of risks building beneath the surface, including geopolitical conflicts, persistent inflation, large government deficits, and elevated asset prices, warning that they could cause real disruption if those pressures collide.