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Julio Rodríguez of the Seattle Mariners was the American League Rookie of the Year in 2022. MLB trading card partner Fanatics has plans for new rookie card features this season as part of a bigger plan to increase the value of Topps baseball cards for collectors.

Diamond Images | Diamond Images | Getty Images

Fanatics made waves in the sports and collectibles industries when it pried the rights to make trading cards for Major League Baseball from incumbent Topps in August 2021, ending a partnership that dated back to 1952. The sports platform company made another huge splash last January when it acquired Topps outright for roughly $500 million.

Now, after releasing its first major Topps set alongside the start of the 2023 MLB season, Fanatics is starting to show how it plans to elevate the trading cards and collectibles space.

“Fanatics is focused on the best experience for the fan, and collectibles is focused on the best collector experience,” said Fanatics Collectibles CEO Mike Mahan. “That means having the most innovative, thoughtful, authentic products possible.”

Mahan, who joined Fanatics in June to lead the company’s trading cards and digital collectibles business after serving as CEO of Dick Clark Productions, said the “the collector experience in 2023 will be the best collector experience ever, and 2024 will be even better.”

That belief is driven from Fanatics Collectibles’ main focus areas so far, Mahan said: educating new collectors and better onboarding them into the hobby, building out the marketing around collectibles, enhancing the existing collector ecosystem and experience, and innovation.

Rookies play a big role in increasing baseball card value

Innovation drove one of the new initiatives Fanatics is adding this year around typically one of the biggest points of excitement, and value, for card collectors: the debut cards of highly touted rookies.

“One of the central questions that we’ve been trying to answer is how do we get cards to really capture the big moments,” Mahan said. “Baseball cards have been about the rookies for so long, so if rookie cards are the biggest things in sports, how do we make the best possible card? How do we bring people closer to that moment?”

That led to the creation of MLB Debut Patches, which Fanatics is touting as the first-ever memorabilia made in partnership with a pro sports league specifically for the inclusion on trading cards. Working with MLB and the MLB Players Association, every player who makes their debut this season will have a patch on their jersey. After the game, the patch will be authenticated and placed directly onto their rookie card in a future Topps set.

MLB chief revenue officer Noah Garden said that is the sort of the thing that will continue the momentum among collectibles and trading cards.

“It’s that emotional connection that drives the hobby, and brings fans closer to the game,” said Garden, who described himself as an avid baseball card collector. “They want to feel like a part of the game, and what is a better way to do that than to have something that was actually a part of it?”

While the sports trading card industry had seen growth in recent years, the pandemic put the hobby into overdrive. Cards across sports have been selling for record prices, including a $12.6 million sale for a 1952 Topps Mickey Mantle rookie card, the highest price ever paid for a trading card.

U.S. Google searches for “best sports cards to buy right now” increased by 680% between January 2020 and February 2023, according to data provided to CNBC by online visibility management SaaS platform Semrush. During the same period, average U.S. monthly visits to Topps.com grew by 218.5% to nearly 1.2 million, Semrush data showed.

Business overall has been very good, says Fanatics CEO Michael Rubin

But even as other collectibles that boomed during the pandemic have fallen out of favor like NFTs and Funko Pops, trading cards have looked to maintain their momentum.

Jeff Owens, editor of Sports Collectors Digest, the largest trade publication covering sports trading cards, said that the resurgence of the hobby was “primarily due to a resurgence in buying and selling during the pandemic and a large group of wealthy investors looking for alternative assets.”

The softening of the economy led a decline in the market of modern cards last year, but values and demand are still “well above” what they were before the pandemic, Owens said, adding that the market for vintage cards like the Mantle rookie card is “very, very strong.”

Owens also pointed to the growth and support of card shows across the U.S. – nearly 1,000 planned for 2023, which is a significant increase compared to previous years.

Mahan said that from Fanatics’ perspective, “it’s a very strong time for the hobby right now.”

The global sports trading card market is valued at $44 billion and is expected to approach $100 billion in 2027, according to data from Verified Market Research.

“We think very firmly that the best days are in front of it; we can’t control the broader economy and like any consumer good there’s some correlation with broader spending but go to any card show or shop right now, this is a very vibrant and healthy marketplace,” Mahan said.

When Topps was considering going public in a SPAC deal that would have valued it at $1.3 billion in April 2021, the company reported that it had record sales of $567 million in 2020, a 23% year-over-year increase. That SPAC deal was later canceled after Fanatics acquired the MLB rights, which ultimately led to Fanatics’ acquisition of the company.

Mahan declined to comment on Topps sales today, but he said that “the business and the industry continues to be in a great, great place.”

What MLB gets from the Topps deal

For MLB, the return of trading cards has also served as a boon, which Garden said has parallels to video games or other ways that the league looks to bring in new fans and turn casual fans into diehards.

Garden noted fans like his son, who is an avid baseball fan but may not know every player on a West Coast team besides their stars. “When these players start to break through nationally, you already know who to look for” based on the rookie cards and other cards in the set, he said.

“The importance of cards in the evolution of fandom I’ve always thought was important,” said Garden, noting that’s how he got into baseball. “But the business hadn’t seen innovation in forever and in many ways, it had gotten harder to collect. … What Fanatics has done so far to innovate the product and support the ecosystem has been nothing short of fantastic.”

While MLB cards remain the crown jewel for Topps, Mahan said that Fanatics is excited for what the future holds not only for baseball cards, but also for the other rights the company holds, which includes the ability to produce NBA and NFL cards in the coming years.

“The good news is trading cards and sports cards have been vibrant for a long time, they’ve mattered for a long time, they’ve been meaningful for a long time,” Mahan said. “It’s a business that has traditionally been cyclical and had its ups and downs. … We’re focused on education, innovation, marketing, and community, and bringing all of those together – given where we sit today with all of these good things yet to come, we feel our best is firmly in front of us.”

Earlier this year, Fanatics hired former Snap global head of content and partnerships Nick Bell to head its new Fanatics Live business, which will focus on building a digital customer shopping experience where you can buy trading cards and other collectibles via curated and personality-driven content and entertainment.

Bell told CNBC that one of the first focuses of this new business division will be around “breaking,” a form of social trading card buying. Similar to a blind raffle, a set number of individuals purchase an entry from a seller — called a “spot” — and the seller then opens an entire case of trading cards live online and allocates each of them. Fanatics would receive a cut of each card sale.

Fanatics raised $700 million in December to bring its valuation to $31 billion, capital that it planned to use on potential merger and acquisition opportunities across its collectibles, betting and gaming businesses, according to CNBC.

The company estimates its revenue for Fanatics, including its Lids segment, will be approximately $8 billion in 2023.

Fanatics is a three-time CNBC Disruptor 50 company, and ranked No. 21 in 2022.

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Inside a Utah desert facility preparing humans for life on Mars

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Inside a Utah desert facility preparing humans for life on Mars

Hidden among the majestic canyons of the Utah desert, about 7 miles from the nearest town, is a small research facility meant to prepare humans for life on Mars.

The Mars Society, a nonprofit organization that runs the Mars Desert Research Station, or MDRS, invited CNBC to shadow one of its analog crews on a recent mission.

MDRS is the best analog astronaut environment,” said Urban Koi, who served as health and safety officer for Crew 315. “The terrain is extremely similar to the Mars terrain and the protocols, research, science and engineering that occurs here is very similar to what we would do if we were to travel to Mars.”

SpaceX CEO and Mars advocate Elon Musk has said his company can get humans to Mars as early as 2029.

The 5-person Crew 315 spent two weeks living at the research station following the same procedures that they would on Mars.

David Laude, who served as the crew’s commander, described a typical day.

“So we all gather around by 7 a.m. around a common table in the upper deck and we have breakfast,” he said. “Around 8:00 we have our first meeting of the day where we plan out the day. And then in the morning, we usually have an EVA of two or three people and usually another one in the afternoon.”

An EVA refers to extravehicular activity. In NASA speak, EVAs refer to spacewalks, when astronauts leave the pressurized space station and must wear spacesuits to survive in space.

“I think the most challenging thing about these analog missions is just getting into a rhythm. … Although here the risk is lower, on Mars performing those daily tasks are what keeps us alive,” said Michael Andrews, the engineer for Crew 315.

Watch the video to find out more.

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Apple scores big victory with ‘F1,’ but AI is still a major problem in Cupertino

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Apple scores big victory with 'F1,' but AI is still a major problem in Cupertino

Formula One F1 – United States Grand Prix – Circuit of the Americas, Austin, Texas, U.S. – October 23, 2022 Tim Cook waves the chequered flag to the race winner Red Bull’s Max Verstappen 

Mike Segar | Reuters

Apple had two major launches last month. They couldn’t have been more different.

First, Apple revealed some of the artificial intelligence advancements it had been working on in the past year when it released developer versions of its operating systems to muted applause at its annual developer’s conference, WWDC. Then, at the end of the month, Apple hit the red carpet as its first true blockbuster movie, “F1,” debuted to over $155 million — and glowing reviews — in its first weekend.

While “F1” was a victory lap for Apple, highlighting the strength of its long-term outlook, the growth of its services business and its ability to tap into culture, Wall Street’s reaction to the company’s AI announcements at WWDC suggest there’s some trouble underneath the hood.

“F1” showed Apple at its best — in particular, its ability to invest in new, long-term projects. When Apple TV+ launched in 2019, it had only a handful of original shows and one movie, a film festival darling called “Hala” that didn’t even share its box office revenue.

Despite Apple TV+ being written off as a costly side-project, Apple stuck with its plan over the years, expanding its staff and operation in Culver City, California. That allowed the company to build up Hollywood connections, especially for TV shows, and build an entertainment track record. Now, an Apple Original can lead the box office on a summer weekend, the prime season for blockbuster films.

The success of “F1” also highlights Apple’s significant marketing machine and ability to get big-name talent to appear with its leadership. Apple pulled out all the stops to market the movie, including using its Wallet app to send a push notification with a discount for tickets to the film. To promote “F1,” Cook appeared with movie star Brad Pitt at an Apple store in New York and posted a video with actual F1 racer Lewis Hamilton, who was one of the film’s producers.

(L-R) Brad Pitt, Lewis Hamilton, Tim Cook, and Damson Idris attend the World Premiere of “F1: The Movie” in Times Square on June 16, 2025 in New York City.

Jamie Mccarthy | Getty Images Entertainment | Getty Images

Although Apple services chief Eddy Cue said in a recent interview that Apple needs the its film business to be profitable to “continue to do great things,” “F1” isn’t just about the bottom line for the company.

Apple’s Hollywood productions are perhaps the most prominent face of the company’s services business, a profit engine that has been an investor favorite since the iPhone maker started highlighting the division in 2016.

Films will only ever be a small fraction of the services unit, which also includes payments, iCloud subscriptions, magazine bundles, Apple Music, game bundles, warranties, fees related to digital payments and ad sales. Plus, even the biggest box office smashes would be small on Apple’s scale — the company does over $1 billion in sales on average every day.

But movies are the only services component that can get celebrities like Pitt or George Clooney to appear next to an Apple logo — and the success of “F1” means that Apple could do more big popcorn films in the future.

“Nothing breeds success or inspires future investment like a current success,” said Comscore senior media analyst Paul Dergarabedian.

But if “F1” is a sign that Apple’s services business is in full throttle, the company’s AI struggles are a “check engine” light that won’t turn off.

Replacing Siri’s engine

At WWDC last month, Wall Street was eager to hear about the company’s plans for Apple Intelligence, its suite of AI features that it first revealed in 2024. Apple Intelligence, which is a key tenet of the company’s hardware products, had a rollout marred by delays and underwhelming features.

Apple spent most of WWDC going over smaller machine learning features, but did not reveal what investors and consumers increasingly want: A sophisticated Siri that can converse fluidly and get stuff done, like making a restaurant reservation. In the age of OpenAI’s ChatGPT, Anthropic’s Claude and Google’s Gemini, the expectation of AI assistants among consumers is growing beyond “Siri, how’s the weather?”

The company had previewed a significantly improved Siri in the summer of 2024, but earlier this year, those features were delayed to sometime in 2026. At WWDC, Apple didn’t offer any updates about the improved Siri beyond that the company was “continuing its work to deliver” the features in the “coming year.” Some observers reduced their expectations for Apple’s AI after the conference.

“Current expectations for Apple Intelligence to kickstart a super upgrade cycle are too high, in our view,” wrote Jefferies analysts this week.

Siri should be an example of how Apple’s ability to improve products and projects over the long-term makes it tough to compete with.

It beat nearly every other voice assistant to market when it first debuted on iPhones in 2011. Fourteen years later, Siri remains essentially the same one-off, rigid, question-and-answer system that struggles with open-ended questions and dates, even after the invention in recent years of sophisticated voice bots based on generative AI technology that can hold a conversation.

Apple’s strongest rivals, including Android parent Google, have done way more to integrate sophisticated AI assistants into their devices than Apple has. And Google doesn’t have the same reflex against collecting data and cloud processing as privacy-obsessed Apple.

Some analysts have said they believe Apple has a few years before the company’s lack of competitive AI features will start to show up in device sales, given the company’s large installed base and high customer loyalty. But Apple can’t get lapped before it re-enters the race, and its former design guru Jony Ive is now working on new hardware with OpenAI, ramping up the pressure in Cupertino.

“The three-year problem, which is within an investment time frame, is that Android is racing ahead,” Needham senior internet analyst Laura Martin said on CNBC this week.

Apple’s services success with projects like “F1” is an example of what the company can do when it sets clear goals in public and then executes them over extended time-frames.

Its AI strategy could use a similar long-term plan, as customers and investors wonder when Apple will fully embrace the technology that has captivated Silicon Valley.

Wall Street’s anxiety over Apple’s AI struggles was evident this week after Bloomberg reported that Apple was considering replacing Siri’s engine with Anthropic or OpenAI’s technology, as opposed to its own foundation models.

The move, if it were to happen, would contradict one of Apple’s most important strategies in the Cook era: Apple wants to own its core technologies, like the touchscreen, processor, modem and maps software, not buy them from suppliers.

Using external technology would be an admission that Apple Foundation Models aren’t good enough yet for what the company wants to do with Siri.

“They’ve fallen farther and farther behind, and they need to supercharge their generative AI efforts” Martin said. “They can’t do that internally.”

Apple might even pay billions for the use of Anthropic’s AI software, according to the Bloomberg report. If Apple were to pay for AI, it would be a reversal from current services deals, like the search deal with Alphabet where the Cupertino company gets paid $20 billion per year to push iPhone traffic to Google Search.

The company didn’t confirm the report and declined comment, but Wall Street welcomed the report and Apple shares rose.

In the world of AI in Silicon Valley, signing bonuses for the kinds of engineers that can develop new models can range up to $100 million, according to OpenAI CEO Sam Altman.

“I can’t see Apple doing that,” Martin said.

Earlier this week, Meta CEO Mark Zuckerberg sent a memo bragging about hiring 11 AI experts from companies such as OpenAI, Anthropic, and Google’s DeepMind. That came after Zuckerberg hired Scale AI CEO Alexandr Wang to lead a new AI division as part of a $14.3 billion deal.

Meta’s not the only company to spend hundreds of millions on AI celebrities to get them in the building. Google spent big to hire away the founders of Character.AI, Microsoft got its AI leader by striking a deal with Inflection and Amazon hired the executive team of Adept to bulk up its AI roster.

Apple, on the other hand, hasn’t announced any big AI hires in recent years. While Cook rubs shoulders with Pitt, the actual race may be passing Apple by.

WATCH: Jefferies upgrades Apple to ‘Hold’

Jefferies upgrades Apple to 'Hold'

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Musk backs Sen. Paul’s criticism of Trump’s megabill in first comment since it passed

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Musk backs Sen. Paul's criticism of Trump's megabill in first comment since it passed

Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC.

Kevin Dietsch | Getty Images

Tesla CEO Elon Musk, who bombarded President Donald Trump‘s signature spending bill for weeks, on Friday made his first comments since the legislation passed.

Musk backed a post on X by Sen. Rand Paul, R-Ky., who said the bill’s budget “explodes the deficit” and continues a pattern of “short-term politicking over long-term sustainability.”

The House of Representatives narrowly passed the One Big Beautiful Bill Act on Thursday, sending it to Trump to sign into law.

Paul and Musk have been vocal opponents of Trump’s tax and spending bill, and repeatedly called out the potential for the spending package to increase the national debt.

On Monday, Musk called it the “DEBT SLAVERY bill.”

The independent Congressional Budget Office has said the bill could add $3.4 trillion to the $36.2 trillion of U.S. debt over the next decade. The White House has labeled the agency as “partisan” and continuously refuted the CBO’s estimates.

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The bill includes trillions of dollars in tax cuts, increased spending for immigration enforcement and large cuts to funding for Medicaid and other programs.

It also cuts tax credits and support for solar and wind energy and electric vehicles, a particularly sore spot for Musk, who has several companies that benefit from the programs.

“I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!” Trump wrote in a social media post in early June as the pair traded insults and threats.

Shares of Tesla plummeted as the feud intensified, with the company losing $152 billion in market cap on June 5 and putting the company below $1 trillion in value. The stock has largely rebounded since, but is still below where it was trading before the ruckus with Trump.

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Tesla one-month stock chart.

— CNBC’s Kevin Breuninger and Erin Doherty contributed to this article.

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