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AAPL

MSFT

OpenAI launched the ChatGPT app for Apple's macOS, bypassing Windows 11 from its top investor, Microsoft, despite Microsoft's $13B investment in OpenAI. The app introduces a new user interface and the GPT-4o model, enhancing user interaction with AI through text and voice. This move has sparked discussions on OpenAI's potential to challenge major tech companies and has been met with skepticism from figures like Elon Musk.

Portfolio Pulse from Rounak Jain

May 14, 2024 | 8:04 am

TSLA

Tesla Inc's head of Cybertruck manufacturing, Renjie Zhu, has resigned, joining a series of senior executives leaving amid workforce downsizing. Zhu's departure follows Tesla's announcement of a 10% workforce reduction and comes amidst challenges like declining sales and pricing pressures. Tesla's Q1 revenue fell to $21.3 billion from $23.33 billion a year earlier, marking its first quarterly revenue drop since 2020. Despite these challenges, Tesla's stock closed 2% higher at $171.89 and gained an additional 0.5% after hours.

Portfolio Pulse from Anan Ashraf

May 14, 2024 | 7:26 am

AAPL

GOOG

GOOGL

MSFT

Gene Munster of Deepwater Asset Management predicts OpenAI could challenge Google's search business, despite OpenAI's ties with Microsoft. Munster believes OpenAI will become a formidable competitor in the search market, potentially making significant announcements by year-end. This comes as Apple is reportedly finalizing a partnership with OpenAI, which could enhance its AI features. Google, meanwhile, faces challenges, including a $20 billion payment to Apple to remain the default iOS search engine, amidst antitrust allegations.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 3:33 am

UBER

Uber Technologies, Inc. acquires Delivery Hero's foodpanda delivery business in Taiwan for $950M in cash, and will also purchase $300M in newly issued ordinary shares of Delivery Hero. This strategic acquisition aims to consolidate their merchant, delivery partner, and consumer bases into a single app, marking one of the largest-ever international acquisitions in Taiwan. The deal, subject to regulatory approval, is expected to close in the first half of 2025.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 3:15 am

AMZN

GOOGL

Anthropic, an AI startup backed by Google and Amazon, has launched its Claude chatbot in Europe, aiming to expand its user base and revenue amidst regulatory challenges. The company, founded by former OpenAI employees, is leveraging its cloud-computing partnerships with Amazon and Google to navigate the EU's stringent data usage regulations. Anthropic's focus on responsible and ethical AI, along with its compliance with the EU's AI Act, positions it as a strong competitor in the AI market against rivals like OpenAI and emerging Chinese AI startups.

Portfolio Pulse from Ananya Gairola

May 14, 2024 | 3:02 am

ARKF

ARKK

ARKW

SHOP

Cathie Wood's Ark Invest made notable trades by purchasing shares of Shopify Inc (SHOP) for approximately $18.45 million and selling shares of Block Inc (SQ) valued at around $7.7 million. The trades were executed across Ark Invest's ETFs, including ARKF, ARKK, and ARKW, following Shopify's price dip after its Q1 earnings report and Block's price increase post its earnings and Bitcoin investment announcement.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 2:27 am

LGF/A

LION

Lionsgate Studios is set to become a standalone publicly-traded company on NASDAQ under the ticker 'LION' starting May 14, following a successful business combination with Screaming Eagle Acquisition. This move, raising $350 million, is part of Lionsgate's strategy to separate its Studio and STARZ businesses, valuing Lionsgate Studios at $4.6 billion. The full separation is expected by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:45 pm

HTCR

HeartCore Enterprises, Inc. (HTCR) announced the sale of a Go IPO client's warrant to a Japanese financial institution for $9 million, with $5 million received in Q1 2024 and the remaining $4 million in April 2024. After referral fees to So Management Inc., net sales were $5.64 million. However, the $9 million will be classified as debt until the client is publicly listed in Fall 2024, due to specific accounting treatments.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:37 pm

EVE

EVe Mobility Acquisition, a blank check company, has announced an extension of its deadline to complete an initial business combination from May 17 to June 17.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:23 pm

LPA

Logistic Properties of the Americas (LPA) announced leadership changes with Annette Fernandez appointed as COO and Paul Smith as CFO. These appointments come as part of LPA's strategy to strengthen its team in alignment with its next growth phase following its NYSE listing in March 2024.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:38 pm