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GOOG

GOOGL

MSFT

NVDA

Following the removal of Sam Altman as CEO of OpenAI, competitors like Google (Alphabet Inc), Anthropic, Nvidia, and Salesforce have reported increased interest from customers and potential employees. Google has seen a surge in activity, Cohere has experienced a rise in inquiries, and over 100 customers have reached out to Anthropic. Salesforce's CEO Marc Benioff has invited OpenAI researchers to join his company. This comes after an internal revolt at OpenAI, with reports of employees willing to leave for Microsoft, where Altman is now employed.

Portfolio Pulse from Ananya Gairola

November 22, 2023 | 5:49 am

MSFT

Microsoft (NASDAQ:MSFT) is facing internal discontent after announcing the hiring of OpenAI employees with matched compensation. This has caused unrest among existing staff who have experienced job insecurity, layoffs, and salary freezes. The hiring of OpenAI's ex-CEO Sam Altman and President Greg Brockman to lead a new AI research group has added to the perceived disparities. OpenAI's board is struggling to manage a crisis as over 96% of its employees demanded the board's resignation and are ready to quit, potentially following Altman to Microsoft.

Portfolio Pulse from Benzinga Neuro

November 22, 2023 | 3:49 am

COIN

Coinbase CEO Brian Armstrong responded to Binance co-founder Changpeng Zhao's resignation, viewing it as a chance for a new industry chapter. Armstrong highlighted Coinbase's commitment to compliance since 2012. Zhao resigned as part of a plea deal with the DOJ, where Binance agreed to a $1.8 billion fine and a $2.5 billion forfeiture. Armstrong noted the challenges of compliance but believes it was the right decision. Coinbase's Chief Legal Officer, Paul Grewal, criticized the U.S. government's enforcement-only approach to crypto regulation, calling for legislation to protect consumers and promote a responsible marketplace.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 10:36 pm

FWONA

FWONK

GME

Citadel CEO Ken Griffin, known for betting against GameStop, is reportedly interested in acquiring a minority stake in the NFL's Miami Dolphins. The team's owner, Stephen Ross, is considering selling a minority stake, which includes the Hard Rock Stadium and Formula 1 Miami Grand Prix rights, to invest in other sports ventures. The Dolphins are valued at $5.24 billion, with $600 million in revenue and $128 million in operating profit in 2022. Griffin's move to Miami and his interest in the Dolphins align with his vision of Miami becoming a major financial hub.

Portfolio Pulse from Chris Katje

November 21, 2023 | 10:27 pm

GBNH

Greenbrook TMS has settled a breach of contract lawsuit related to a $2 million promissory note issued to a lender associated with Mr. Benjamin Klein, a seller of Check Five LLC, which Greenbrook acquired in July 2022. The company will pay the plaintiff a total of $2.2 million.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 10:05 pm

CLAY

Mobix Labs, Inc. and Chavant Capital Acquisition Corp. (NASDAQ:CLAY) have announced the SEC's effectiveness of the Registration Statement for their proposed business combination. The extraordinary general meeting for Chavant shareholders to approve the merger is scheduled for December 14, 2023. Post-merger, Mobix Labs expects to trade on Nasdaq under the ticker symbols 'MOBX' and 'MOBXW'.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:23 pm

NFLX

PARA

PARAA

STLA

General Motors Company (GM) has decided not to spend on Super Bowl LVIII commercials, a move that may be related to cost-cutting measures following a UAW strike. The strike could lead to billions in losses for Detroit's big three automakers, including GM, and has resulted in increased wages for UAW employees. GM's CEO Mary Barra has announced delays in electric vehicle launches and cost-cutting initiatives. Stellantis (STLA) and Ford Motor Company (F) were also targeted by UAW strikes, with Ford's CEO expressing a preference for vehicle updates over Super Bowl ads.

Portfolio Pulse from Chris Katje

November 21, 2023 | 8:35 pm

MSFT

Microsoft is preparing for the potential arrival of OpenAI employees by readying office space and resources in LinkedIn's San Francisco offices. This follows the announcement that Sam Altman and Greg Brockman are joining Microsoft to lead a new AI research team. Despite Altman's firing from OpenAI and ongoing negotiations, Microsoft is offering OpenAI employees similar compensation to join them. The situation is still uncertain, with the possibility of Altman returning to OpenAI.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:10 pm

MSFT

Microsoft is preparing for the potential arrival of OpenAI employees by readying office space and resources in LinkedIn's San Francisco offices. This follows the announcement that Sam Altman and Greg Brockman are joining Microsoft to lead a new AI research team. Microsoft was surprised by Altman's firing from OpenAI but is open to him returning if the board is reconstituted. The company is setting up workspaces and providing legal and HR support for onboarding, and promises similar compensation for OpenAI employees joining Microsoft.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:09 pm

INCY

Goldman Sachs downgraded Incyte Corp (NASDAQ:INCY) from Buy to Neutral, reducing the price target from $98 to $65 due to uncertainties around Jakafi's lifecycle management and competitive concerns. The FDA's complete response letter for once-daily Jakafi requires a modified formulation, potentially delaying approval until 2026/2027. Incyte is not seen as a likely M&A target because of Jakafi's small biotech drug exemption, which would not apply if acquired. Incyte is focusing on M&A and business development, with over $3.5 billion in cash reserves and no debt.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 8:05 pm