Streetbeat News

Acquisitions Mergers

NVDA

TSM

Taiwan Semiconductor (NYSE:TSM) is reportedly considering expanding its advanced chip packaging capacity in Japan, which could significantly impact the global semiconductor industry. The company is exploring the possibility of establishing facilities for its chip-on-wafer-on-substrate (CoWoS) packaging technology in Japan. This technology enhances processing power, saves space, and reduces power consumption. The demand for advanced semiconductor packaging has surged globally, prompting major chipmakers to increase their packaging capacity. TSMC's potential expansion in Japan follows its recent establishment of a plant and an advanced packaging R&D center in the country. The company's shares have soared over 110% since October 2022, mirroring gains of its key client, NVIDIA Corp (NASDAQ:NVDA).

Portfolio Pulse from Benzinga Neuro

March 18, 2024 | 6:33 am

NVEI

Nuvei has acknowledged interest in privatization and has formed a special committee to evaluate strategic alternatives. This development indicates a significant shift in the company's strategy and could have implications for its future direction and stock price.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 6:02 am

JOAN

JOANN has entered into an agreement to reduce its debt by approximately $505 million and receive $132 million in new capital along with related financial accommodations. The company will continue its operations as usual, with stores and JOANN.com remaining open. Vendors, landlords, and other general unsecured creditors will not be impaired by this agreement. JOANN is implementing a prepackaged financial recapitalization plan on an expedited basis.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 5:56 am

META

MSFT

Elon Musk's xAI has open-sourced its AI model Grok, surpassing competitors like Meta's Llama 2 with 314 billion parameters. Grok is available under Apache License 2.0, excluding trademark rights and liability warranty. Despite its open-source status, full training data and real-time X data integration require a paid subscription. This move is seen as a strategic response to Musk's rivalry with OpenAI and a potential lawsuit, positioning xAI as a leading AI entity.

Portfolio Pulse from Ananya Gairola

March 18, 2024 | 1:59 am

FOUR

Shift4's CEO informed employees that potential acquisition offers did not adequately value the company, leading the board to conclude that none of the bids sufficiently valued the business or its future prospects.

Portfolio Pulse from Charles Gross

March 17, 2024 | 9:56 pm

INTJ

RAN

RDDT

Upcoming IPOs for the week include Reddit, Inc (NYSE:RDDT), RanMarine Technology B.V. (NASDAQ:RAN), and Intelligent Group Limited (NASDAQ:INTJ), with their public offerings scheduled to start on March 21, 2024, and March 19, 2024, respectively. Reddit, Inc will offer 22,000,000 shares at $32.50 each, RanMarine Technology B.V. will offer 1,435,000 shares at $5.50 each, and Intelligent Group Limited will offer 2,000,000 shares at $4.50 each, all with a 180-day insider lock-up period.

Portfolio Pulse from Benzinga Insights

March 17, 2024 | 5:13 pm

TSLA

This week's political updates include speculation on a Trump vs. Biden 2024 presidential race, with polls showing Trump leading. Elon Musk, CEO of SpaceX and Tesla Inc. (NASDAQ:TSLA), responded to Putin's nuclear threat with a terse comment on X. Biden's approval ratings are up, with voters blaming inflation on corporations. The Supreme Court ruled Trump can run in 2024, despite the 14th Amendment's insurrection ban. Trump also faced a $91M defamation judgment bailout, potentially leading to another lawsuit.

Portfolio Pulse from Benzinga Neuro

March 17, 2024 | 12:16 pm

BTCUSD

The weekend financial news roundup covered topics from Bitcoin's potential to address the U.S. national debt, Edward Snowden's critique of Janet Yellen, to the unexpected rise in inflation affecting Federal Reserve decisions. Coinbase CEO Brian Armstrong suggested Bitcoin as a solution to the national debt crisis. Edward Snowden highlighted a contradiction in Yellen's statements regarding U.S. financial capabilities. Inflation rates exceeding expectations in February 2024 are likely to influence the Federal Reserve's upcoming decisions, with persisting inflation adding pressure on Fed Chair Jerome Powell. Additionally, Dave Ramsey criticized the traditional retirement paradigm, advocating for a re-evaluation of life and financial planning.

Portfolio Pulse from Benzinga Neuro

March 17, 2024 | 10:45 am

MSFT

NVDA

TSLA

This week in tech saw escalating tensions between Elon Musk and OpenAI, Edward Snowden's commentary on AI pessimism, and discussions on Nvidia's H100 GPU's impact on tech spending. Musk accused OpenAI of dishonesty and data theft, while tech experts and analysts weighed in on the potential game-changing nature of Nvidia's GPU and the competitive landscape of Tesla's Optimus project in light of new entrants powered by Microsoft-backed OpenAI.

Portfolio Pulse from Benzinga Neuro

March 17, 2024 | 7:15 am

DIS

The Walt Disney Company (NYSE:DIS) faces challenges in the film industry with no 2023 releases hitting the $1 billion mark. CEO Bob Iger announced a studio overhaul, leading to the cancellation of several projects, potentially including 'National Treasure 3' as indicated by Nicolas Cage. This decision may disappoint fans, given the franchise's previous success. Disney's recent investment in Epic Games and its performance in Q1 earnings are also noted.

Portfolio Pulse from Chris Katje

March 16, 2024 | 2:08 pm