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Astera Labs Inc, backed by Intel Corp (NASDAQ:INTC), is planning an IPO to raise up to $534 million, leveraging the AI boom. The company, specializing in semiconductor connectivity for AI applications, will list on Nasdaq under the ticker ALAB. The IPO is managed by Morgan Stanley (NYSE:MS) and JPMorgan Chase & Co (NYSE:JPM), with a significant investment from Intel's venture arm. This move comes amid a surge in AI-related stocks, like NVIDIA Corp (NASDAQ:NVDA), highlighting the growing interest in AI investments.

Portfolio Pulse from Anusuya Lahiri

March 08, 2024 | 5:25 pm

EQNR

NHYKF

Equinor ASA has initiated operations at its 531 MW Mendubim solar plant in Brazil, expected to boost its equity power production by 30% to over 1.4 TWh in 2024. The plant will generate 1.2 TWh annually, with 60% of the power sold under a 20-year USD-denominated PPA with Norsk Hydro ASA's Alunorte. The project, a joint venture with Scatec and Hydro Rein, aligns with Equinor's diversified energy strategy in Brazil. Despite a 20% Y/Y drop in Q4 FY23 revenue and a 49% fall in adjusted earnings due to lower gas prices, EQNR shares rose by 0.72% to $26.05.

Portfolio Pulse from Lekha Gupta

March 08, 2024 | 5:20 pm

TSM

Taiwan Semiconductor Manufacturing (TSM) is poised to receive over $5 billion in federal grants to support its chipmaking project in Arizona, according to Bloomberg. This funding is part of the U.S. government's efforts to bolster domestic semiconductor manufacturing capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 5:16 pm

LYT

MSTR

ON

PLD

SOFI

Benzinga's Stock Whisper Index highlights five stocks: Lytus Technologies (LYT), MicroStrategy (MSTR), ON Semiconductor (ON), SoFi Technologies (SOFI), and Prologics (PLD). LYT surged after launching Lytus Cloud, MSTR continues to invest in Bitcoin, ON Semiconductor sees investor interest with mixed analyst ratings, SOFI's stock dipped after a convertible notes offering, and PLD attracts attention amid commercial real estate concerns.

Portfolio Pulse from Chris Katje

March 08, 2024 | 5:10 pm

BX

Over the past decade, Blackstone (NYSE:BX) has delivered an average annual return of 14.47%, turning a $1000 investment into $3,765.83 today. With a current market capitalization of $94.50 billion, Blackstone's performance highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:00 pm

MELI

Over the past 5 years, MercadoLibre (NASDAQ:MELI) has achieved an average annual return of 25.88%, outperforming the market by 12.88%. A $100 investment in MELI 5 years ago would be worth $317.61 today, with the company's market capitalization currently at $78.02 billion.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:00 pm

LCID

Lucid Group's (NYSE:LCID) short interest has decreased by 6.57%, now representing 21.6% of its float with 254.07 million shares sold short. It would take about 8.62 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards LCID, potentially impacting its stock price. Compared to its peers, LCID has a higher short interest, suggesting more bearish sentiment among investors.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 4:45 pm

CE

Celanese (NYSE:CE) has seen a decrease in short interest, with 5.58 million shares sold short, representing 5.85% of available shares. This marks a 3.78% decline in short interest since the last report. The current short interest suggests a more bullish market sentiment compared to the peer group average of 3.65%. Short interest is a key indicator of market sentiment, and a decrease can imply a positive outlook for the stock.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 4:45 pm

SOUN

Deep-pocketed investors have shown a significant interest in SoundHound AI (NASDAQ:SOUN), with a split sentiment of 50% bullish and 50% bearish. Benzinga's options scanner revealed 14 extraordinary options activities, indicating a targeted price range of $3.5 to $15.0 for SOUN over the last 3 months. The company, known for its conversational intelligence platform, has seen its stock price increase by 10.66%, reaching $6.23, though it may be overbought according to current RSI values. The next earnings report is expected in 62 days.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 4:31 pm

ADBE

Adobe (NASDAQ:ADBE) has significantly outperformed the market over the past decade, with an average annual return of 23.5%, turning a $100 investment into $813.62 today. The company's market capitalization stands at $250.66 billion, highlighting its substantial growth and the impact of compounded returns over time.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 4:30 pm