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Assets

EXAS

Exact Sciences announced a debt exchange transaction and private placement of convertible senior notes. The company will issue $620.7 million in new 1.75% Convertible Senior Notes due 2031 in exchange for retiring $359.7 million of existing 0.375% notes due 2028 and receiving $266.8 million in cash. The transaction is expected to close on April 17, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 10:03 am

META

NVDA

Meta Platforms Inc. (NASDAQ:META) has unveiled its next-generation AI chip, the MTIA, aimed at competing with Nvidia Corporation's (NASDAQ:NVDA) AI chips in the cloud business. The MTIA, built on Taiwan Semiconductor Manufacturing Co's 5nm process, is designed for AI workloads, specifically ranking and recommendation models. This development is part of a broader trend where major tech companies are developing their own AI chips to reduce dependency on Nvidia's GPUs.

Portfolio Pulse from Ananya Gairola

April 11, 2024 | 8:31 am

BTCUSD

'Rich Dad Poor Dad' author Robert Kiyosaki has endorsed Cathie Wood's prediction that Bitcoin could reach $2.3 million per BTC. Kiyosaki, a strong proponent of Bitcoin, emphasizes the importance of personal belief in the cryptocurrency's potential and encourages owning Bitcoin as a way to gain insight and knowledge. His endorsement follows his recent advocacy for Bitcoin in light of inflationary concerns and the Federal Reserve's policies.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 8:22 am

TSM

The U.S. has surpassed China as Taiwan's largest export market for the first time in over two decades, with Taiwanese exports to the U.S. increasing by 65.7% year-on-year in March to $9.1 billion. This shift reflects efforts by the U.S. to reduce dependence on Chinese goods and is part of broader changes in global trade dynamics. The change comes amid significant geopolitical events, including meetings between Chinese and U.S. leaders, a major earthquake in Taiwan affecting the semiconductor supply chain, and a surge in Taiwan's ETF market driven by AI stock interest, notably in Taiwan Semiconductor Manufacturing Co (TSM).

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 7:27 am

STM

STMicroelectronics (STM) and Centrica Energy have signed a ten-year Power Purchase Agreement (PPA) for the supply of approximately 61 GWh of renewable energy annually from a new solar farm in Italy. This agreement aids STM's goal to become carbon neutral and source 100% renewable energy by 2027 for its operations, including two large-volume semiconductor manufacturing sites in Agrate and Catania, Italy.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 7:20 am

DOGE-USD

Mishaboar, a prominent Dogecoin influencer, warned DOGE holders against using leverage and derivatives in cryptocurrency trading, citing the high risks especially during expected market volatility. This advice aligns with other experts' warnings about the dangers of overconfidence and leveraging in volatile crypto markets.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 7:18 am

WD

Walker & Dunlop, Inc. arranged $120M in financing for the refinancing of 1111 Church, a Class A mixed-use multifamily community in Nashville's Gulch neighborhood.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 6:17 am

AHT

Ashford Hospitality Trust has successfully completed the sale of the Hilton Boston Back Bay for $171 million, utilizing all proceeds for debt reduction, including a $68 million payment towards the company's strategic financing.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 6:02 am

BTCUSD

Galaxy Digital CEO Michael Novogratz discussed investment strategies in an inflationary environment on the Business Untitled podcast, advocating for hard assets like real estate, gold, silver, stocks, and Bitcoin. Despite Bitcoin's recent correction, Novogratz remains positive on its value as a hard asset for younger generations. The conversation also covered America's debt, inflation, and strategies for wealth building without initial capital, emphasizing perseverance and entrepreneurship.

Portfolio Pulse from Benzinga Neuro

April 11, 2024 | 4:37 am

EWA

Australia's Building Approvals for the month showed a decrease of 1.9%, aligning with the estimated -1.9% and showing a slight improvement from the previous -2.5% (revised).

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:31 am