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The US government is considering new restrictions on the export of AI chips to China, which could impact Nvidia and other chipmakers. The ban could prevent these companies from shipping their products to China without a license. This news has led to a decline in the shares of US chipmakers, including Nvidia, Advanced Micro Devices, Marvell Technology, and ON Semiconductor. The VanEck Semiconductor ETF, Global X Robotics & Artificial Intelligence ETF, and Pacer Data and Digital Revolution ETF are also expected to see volatility. The US is also considering limiting the leasing of cloud services to Chinese AI companies, which could impact Amazon and Microsoft.

Portfolio Pulse from Piero Cingari

June 28, 2023 | 12:55 pm

RCAT

Red Cat Holdings' subsidiary, Teal Drones, has secured an additional $1.2 million in funding for the U.S. Army's Short Range Reconnaissance (SRR) program. This brings the total funding for Teal's participation to $2.7 million. Teal is one of three vendors competing in the final tranche of the SRR program. The winning vendor will produce a rucksack-portable sUAS to provide Army platoons with a rapidly deployable surveillance and reconnaissance capability.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:47 pm

MSTR

Microstrategy Inc has acquired approximately 12,333 Bitcoins for about $347M in cash between April 29 and June 27, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:47 pm

AREC

American Resources Corporation (NASDAQ: AREC) has received an unsolicited bid for its wholly owned metallurgical carbon division, American Carbon, totaling an implied enterprise value of approximately $260 million. The bid was not accepted due to the duration and structure of the consideration payments. The company remains committed to maximizing the value for shareholders including the sale, lease or expansion of production from the Company's metallurgical carbon assets.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:40 pm

OSIS

OSI Systems (NASDAQ:OSIS) has received a $12 million order from a European customer to provide service and support for its RTT® 110 explosive detection systems used in airport baggage screening. The system has been widely deployed at major international airports and meets the European Civil Aviation Conference's threat detection requirements.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:33 pm

AWX

Avalon Holdings Corporation has announced the appointment of Michael Havalo as CFO and Treasurer, effective from June 26.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 12:28 pm

XWEL

Xwell Inc has announced the appointment of Suzanne A. Scrabis as its new CFO, effective from July 10.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:22 pm

CVX

Russian oil company Roszarubezhneft is seeking permission from Venezuela's state-run company PDVSA to control exports from their joint ventures, similar to a deal PDVSA struck with U.S. oil producer Chevron Corp (NYSE:CVX) last year. The proposal faces significant obstacles as it would require changes to Venezuelan law. The intent is to revive the cash flow from the five companies that U.S. sanctions have negatively impacted. The joint ventures are owed around $3.2 billion from sales managed by PDVSA.

Portfolio Pulse from Vandana Singh

June 28, 2023 | 12:20 pm

BMY

K36 Therapeutics has raised $70M in a Series B financing round to fund clinical proof of concept of KTX-1001, a first-in-class inhibitor of MMSET for treatment of multiple myeloma patients with genetic translocation (4;14). The round was led by Nextech Invest, with participation from Bristol Myers Squibb Company (NYSE:BMY) and other undisclosed investors. The funds will support the ongoing Phase 1 study of KTX-1001 and its expansion into additional hematological and solid tumor indications.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 12:14 pm

INTC

SSNLF

TSM

Samsung Electronics is expanding its chip foundry business, adding production capacity and advanced manufacturing techniques. This move intensifies its rivalry with Taiwan Semiconductor Manufacturing Company and Intel Corp. Samsung plans to introduce 2-nanometer production for mobile phone parts by 2025 and expand applications. It also plans to boost output in South Korea and Texas. The company's 2nm process technology is expected to improve performance by 12% and power efficiency by 25% compared to its current 3nm offering.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 12:02 pm