Streetbeat News

Corporate Responsibility

BTCUSD

Changpeng Zhao, known as CZ, resigned as CEO of Binance following a $4.3 billion settlement with the US Justice Department over alleged violations. A new token named 'CZ coin' surged 4,000% on DEXs post-announcement. Richard Teng will replace CZ as CEO. Bitcoin saw a 3.11% increase in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

November 23, 2023 | 3:41 am

MSFT

The Cambridge Dictionary's Word of the Year, 'hallucinate', reflects a growing concern in the AI industry about the accuracy of AI-generated content. The term now describes AI systems presenting false data as true, leading to issues like job loss and misinformation. Microsoft has faced criticism for inaccuracies in AI-produced articles. Morgan Stanley analysts have noted the problem of AI fabricating facts. The release of Vectara's open-source Hallucination Evaluation Model represents a step towards responsible AI and reducing misinformation risks.

Portfolio Pulse from Benzinga Neuro

November 23, 2023 | 2:49 am

MSFT

Sam Altman, CEO of OpenAI, was reportedly dismissed following a staff letter about a significant AI breakthrough named Q*. Elon Musk expressed extreme concern over the development. The AI, Q*, is a step towards AGI and has shown the ability to solve certain mathematical problems. Over 700 employees considered leaving for Microsoft due to the revelation. Altman is set to return as CEO with a new board. Earlier, Musk had called for a pause in advanced AI development, to which Altman had responded skeptically.

Portfolio Pulse from Benzinga Neuro

November 23, 2023 | 12:25 am

AMZN

GOOGL

MSFT

OpenAI's leadership turmoil has prompted rivals like Google and Amazon to target its customers with incentives to switch platforms. Google is matching OpenAI's pricing and offering cloud credits and support for customers to use its AI software. Amazon emphasizes the value of its strategy, allowing customers to choose from multiple AI systems. OpenAI, with Microsoft's $13 billion investment, remains a large player, but companies are now considering diversifying their AI suppliers to avoid overreliance on a single provider. OpenAI has reinstated Sam Altman as CEO and named a new board to address concerns. Competitors are quickly moving to capitalize on the situation, with some reporting increased interest from businesses.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 10:21 pm

HOLI

Hollysys Automation Technologies plans to hold a special meeting of shareholders in January 2024. The company's special committee is expediting the sale process, indicating potential changes in ownership or structure.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 10:01 pm

RTX

Raytheon Technologies (RTX) has appointed Fredric Reynolds as its Lead Independent Director, effective December 1, 2023. Dinesh Paliwal will step down from the board on the same date. This change in board composition could influence the company's strategic decisions and oversight.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:32 pm

NMFC

New Mountain Finance Corporation (NMFC) has appointed Kris Corbett as its Chief Financial Officer (CFO), effective November 27. This change in the company's financial leadership could signal a strategic shift or a continuation of its current financial policies.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:15 pm

BHP

TAC

TransAlta and BHP Group have announced that their Northern Goldfields solar and battery facility in Western Australia has achieved commercial operation. The facility is now supplying electricity to remote nickel mining operations, marking a significant milestone in the provision of renewable energy to the mining sector.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:13 pm

ASLE

AerSale, a global supplier of aftermarket aircraft, engines, and OEM used serviceable material, has announced the retirement of its Co-Founder and Vice Chairman, Robert Nichols. Nichols will continue to serve as a member of the company's board.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:06 pm

DLTR

Dollar Tree has taken action in response to Wanabana's voluntary recall of its Apple Cinnamon Fruit Puree Pouch by locking its registers to prevent further sales of the product. The company has also removed the product from its website and currently has no financial information to share regarding the impact of the recall.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 9:00 pm