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Alibaba Group is set to compete with OpenAI, backed by Microsoft, in the artificial intelligence (AI) space. OpenAI's AI large language model GPT-4 Turbo is expected to outperform Chinese rivals. Alibaba and Baidu plan to showcase their AI capabilities at the 2023 World Internet Conference. Nvidia plans to release three new chips for China despite the US embargo on AI technology in China. Alibaba's shares traded lower by 0.40% premarket.

Portfolio Pulse from Anusuya Lahiri

November 09, 2023 | 2:23 pm

WST

West Pharmaceutical Servs (NYSE:WST) has outperformed the market over the past 5 years by 16.41% on an annualized basis, producing an average annual return of 26.43%. If an investor had bought $100 of WST stock 5 years ago, it would be worth $323.01 today.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 2:00 pm

EXR

Extra Space Storage (NYSE:EXR) has outperformed the market over the past 10 years, producing an average annual return of 10.68%. If an investor had bought $100 of EXR stock 10 years ago, it would be worth $277.39 today. The company currently has a market capitalization of $25.08 billion.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 2:00 pm

COOP

Mr Cooper Group Inc has announced that it expects its originations systems to be fully operational shortly. This follows the reestablishment of connectivity with vendors and agencies. The company has already resumed buying mortgage servicing rights, according to an SEC 8K filing.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:51 pm

AREC

American Resources Corporation's (NASDAQ:AREC) subsidiary, ReElement Technologies, has closed a $44.9 million bond purchase agreement for local incentives from the City of Marion, Indiana. The bond will fund the construction of a refining facility for lithium, critical minerals, and rare earth elements. The facility will produce ultra-pure battery elements and rare earth elements for EV battery and permanent magnet supply chains.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:48 pm

GIS

General Mills, Inc. (NYSE:GIS) has acquired Fera Pets, Inc., a pet supplement company, marking its first entry into the pet supplement category and the first acquisition by its newly launched growth equity fund. Fera Pets will join General Mills' new growth equity fund, which is designed to own, scale, and incubate strategically aligned businesses for future integration into the company's core portfolio. This move is part of General Mills' disruptive innovation ecosystem, Gold Medal Ventures, which also includes its internal venture studio, G-Works, and its corporate venture capital arm, 301 INC.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:25 pm

DXR

Daxor Corporation (NASDAQ:DXR), a global leader in blood volume measurement technology, has been granted a new patent for a system that provides remote blood volume monitoring. The patent covers various methods, including wearable devices like smartwatches. The technology will help optimize ongoing care based on the patient's evolving blood volume status. This addition to Daxor's intellectual property portfolio is part of the company's strategy to fuel future product development.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:20 pm

NVDA

RXRX

Recursion (NASDAQ:RXRX) has announced a data collaboration deal with Tempus Labs, an ambition to build a top 50 supercomputer powered by NVIDIA (NASDAQ:NVDA), and an updated focus of collaboration with Bayer in precision oncology. Recursion will pay Tempus up to $160M over the next five years for access to one of the world's largest proprietary oncology datasets. The company also plans to quadruple its supercomputing power with NVIDIA's support. Additionally, Recursion and Bayer will initiate up to seven oncology programs, with Recursion eligible to receive up to $1.5 billion plus royalties on net sales.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:12 pm

CARM

CARISMA Therapeutics has reported Q3 cash, cash equivalents, and marketable securities of $94.1M. This is expected to fund the company into the first quarter of 2025.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 12:58 pm

CABA

Cabaletta Bio reported Q3 losses of $(0.37) per share, beating the analyst consensus estimate of $(0.40) by 7.5%. This is a 5.13% increase over losses from the same period last year. The company's cash, cash equivalents and short-term investments of $164.4M are expected to support operations into Q4 2025.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 12:44 pm