Streetbeat News

Corporate Responsibility

MSFT

The OpenAI internal drama has been humorously likened to the 'Game of Thrones' series, with key figures such as Sam Altman and Mira Murati being compared to characters Jon Snow and Daenerys Targaryen, respectively. Microsoft CEO Satya Nadella, involved in addressing the situation, is likened to Lord Varys. The situation has led to a significant reaction from OpenAI employees, with 747 out of 770 calling for the return of Sam Altman.

Portfolio Pulse from Rounak Jain

November 21, 2023 | 1:55 pm

BIDU

FXI

SPY

Baidu's CEO anticipates that U.S. sanctions will affect China's AI development in the long term. During a conference call, the CEO mentioned that Baidu is actively looking for alternatives to mitigate the impact of these sanctions.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:41 pm

NIR

Near Intelligence's Restructuring Committee terminated the employment of CFO Rahul Agarwal effective immediately, as per an SEC filing on Nov 20.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:37 pm

DXC

HBI

DXC Technology (NYSE:DXC) has signed a five-year contract with HanesBrands (NYSE:HBI) to enhance the work experience of HanesBrands' global workforce through Modern Workplace solutions. The partnership, an extension of their existing multi-year global collaboration, will leverage ServiceNow and DXC UPTimeTM Device Management technologies to improve productivity, connectivity, and efficiency across HanesBrands' operations in 32 countries. The digital transformation aims to facilitate better collaboration among HanesBrands' 51,000 associates worldwide and drive business growth by becoming a more digital and data-driven enterprise.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:34 pm

RELI

Reliance Global Group, Inc. (RELI) has announced a Letter of Intent to acquire a benefits enrollment company, which is expected to more than double Reliance's revenue to $35M in FY24. The acquisition is set to close in Q1 2024, subject to definitive agreement and customary closing conditions. The target company is a leading provider of voluntary benefits to 45,000 employees in the U.S. and is anticipated to generate over $21M in revenue during FY24.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:32 pm

NMRD

Nemaura Medical Inc. has obtained a $10 million non-dilutive credit facility to support its operations and growth. This financial boost is expected to aid the company's development and commercialization efforts without diluting existing shareholders' equity.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:31 pm

WMT

Walmart partners with Bamboo Rose to develop a new enterprise sourcing platform (ESP) to revolutionize its global sourcing operations. The ESP will integrate various systems, enhance efficiency, and support Walmart's commitment to low-cost goods. It will enable better collaboration among Walmart's sourcing associates, buyers, product development teams, and suppliers, leading to more informed purchasing decisions, improved market access, and reduced waste, especially in perishable goods. The initiative aligns with Walmart's strategy to save money for customers and is expected to impact all markets and business units, including Sam's Club.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:19 pm

INFN

Infinera (NASDAQ:INFN) has been awarded a California Competes grant valued at up to $14 million to expand and modernize its U.S.-based production of next-generation semiconductors. The grant, part of the CHIPS Act initiative, will support Infinera's domestic manufacturing of indium phosphide-based compound semiconductor and monolithic photonic integrated circuit technologies, enhancing America's economic and national security in semiconductor innovation and supply chain resilience.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:07 pm

SILO

Silo Pharma has announced that it has exclusivity covering multiple indications, including anxiety disorders, Alzheimer's disease, and anorexia. This could potentially enhance the company's intellectual property portfolio and provide a competitive edge in the development of treatments for these conditions.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 1:00 pm

GOOG

GOOGL

YouTube, a subsidiary of Alphabet Inc. (GOOG, GOOGL), has confirmed that users with ad blockers may experience a 'suboptimal' viewing experience, which includes slower performance and lags. This is part of YouTube's effort to encourage viewers to allow ads or subscribe to YouTube Premium for an ad-free experience. The issue arises amid reports of YouTube being throttled in browsers and coincides with a significant price increase for YouTube Premium subscriptions. Solutions to improve YouTube performance include using incognito/private browsing, disabling ad blockers, or subscribing to YouTube Premium.

Portfolio Pulse from Rounak Jain

November 21, 2023 | 12:07 pm