CNBC

OpenAI is in talks to pay about $3 billion to acquire Windsurf, an artificial intelligence tool for coding help, CNBC has confirmed. Windsurf, formerly known as Codeium, competes with Cursor, another popular AI coding tool, as well as existing AI coding features from companies like Microsoft, Anthropic and OpenAI itself. Bloomberg was first to report on the potential deal, which CNBC confirmed with a person familiar with the matter who asked to remain anonymous since the talks are ongoing.

Federal Reserve Chair Jerome Powell gave no indication on where he sees interest rates headed, but noted that, “For the time being, we are well positioned to wait for greater clarity before considering any adjustments to our policy stance.” Find more: cnb.cx/4jlbLOc

Supplies of new and used vehicles for sale in the U.S. are declining rapidly as consumers flock to purchase cars and trucks ahead of potential price increases due to tariffs, according to auto dealers and industry analysis. cnb.cx/3Eq2XqQ

Retirees may think moving all their investments to cash and bonds — and out of stocks — protects their nest egg from risk. They would be wrong, experts say. Most, if not all, retirees need stocks — the growth engine of an investment portfolio — to ensure they don't run out of money during a retirement that might last decades, experts said.

Federal Reserve Chair Jerome Powell expressed concern in a speech Wednesday that the central bank could find itself in a dilemma between controlling inflation and supporting economic growth. Full details: cnb.cx/4jlbLOc

New York City has 818 centimillionaires, the most of any wealth hub in the world, followed by the Bay Area of California and Los Angeles, according to a new report. cnb.cx/4ctBAZz

Billionaire philanthropist Melinda French Gates likes to stockpile advice for when she feels uncertain. Whenever someone tells her something helpful, French Gates writes down their quotes so she can "replay them in my head," she told the Wall Street Journal Magazine in a story published on Monday. One piece of wisdom from her longtime friend Warren Buffett — once given to her and ex-husband Bill Gates — has been particularly useful for her work at her philanthropic investment company Pivotal Ventures, she said. "If I get tough on myself about philanthropy, I remember what Warren Buffett said to us originally, which is, 'You're working on the problems society left behind, and they left them behind for a reason. They are hard, right? So don't be so tough on yourself,'" French Gates, 60, recalled.

U.S. importers are being notified of an increase in canceled sailings by freight ships out of China as ocean carriers try to balance the pullback in orders resulting from President Trump's tariffs and the escalation of tensions in the trade war. A total of 80 blank, or canceled, sailings out of China have been recorded by freight company HLS Group. It wrote in a recent note to clients that with the trade war between China and the U.S. leading to a demand plummet, carriers have started to suspend or adjust transpacific services. Major ocean freight alliance ONE has "suspended until further notice" a route it had previously been planning to bring back in May, which would include ports of Qingdao, Ningbo, Shanghai, Pusan, Vancouver, and Tacoma. Meanwhile, an existing route is planning to cancel its port call at Wilmington, North Carolina.

The countdown to graduation is on for the class of 2025. For college graduates, that means it's time to decide what's next and that includes where to live — should they stay local? Move back home? Or head to an entirely new city in search of more opportunity? A new report from Apartment Advisor might help new grads better make a decision. The report, released in April, evaluated and ranked 98 cities to determine the best places for recent college grads. Apartment Advisor gave each one a final score based on the following categories:

[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Wednesday afternoon at the Economic Club of Chicago, delivering policy remarks with markets on edge over the effect of President Donald Trump's tariffs. The appearance will be the last public speech Powell delivers before the central bank's rate-setting Federal Open Market Committee meets May 6-7. Markets widely expect the FOMC to keep its key overnight borrowing rate unchanged in a range between 4.25% and 4.50%.