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MSFT

NVDA

TSLA

This week in tech saw escalating tensions between Elon Musk and OpenAI, Edward Snowden's commentary on AI pessimism, and discussions on Nvidia's H100 GPU's impact on tech spending. Musk accused OpenAI of dishonesty and data theft, while tech experts and analysts weighed in on the potential game-changing nature of Nvidia's GPU and the competitive landscape of Tesla's Optimus project in light of new entrants powered by Microsoft-backed OpenAI.

Portfolio Pulse from Benzinga Neuro

March 17, 2024 | 7:15 am

GOOG

META

Prosecutors in Virginia are investigating Meta Platforms, Inc. (NASDAQ:META) for potentially facilitating and profiting from illegal drug sales on Facebook and Instagram. The investigation, led by Assistant U.S. Attorney Randy Ramseyer, involves subpoenas sent in 2023 as part of a criminal grand jury probe. Meta asserts it has policies against drug sales and collaborates with law enforcement to combat online drug sales. Additionally, NY Gov. Kathy Hochul accused Meta and Alphabet Inc (NASDAQ:GOOG) of promoting unlicensed cannabis businesses.

Portfolio Pulse from Maureen Meehan

March 17, 2024 | 12:58 am

LCID

META

NVDA

SMH

TSLA

Benzinga's weekly review highlights significant movements and sentiments in the stock and cryptocurrency markets, with a focus on Nvidia, Tesla, Meta, and the broader semiconductor sector. Inflation concerns and Federal Reserve's interest rate decisions have created market uncertainty. A DEA rumor boosted cannabis stocks, while significant investments in AI and robotics, along with Elon Musk's comments on Dogecoin, influenced investor sentiment. Disputes and criticisms involving Lucid, Meta, and cryptocurrency valuations also shaped the week's bearish outlooks.

Portfolio Pulse from Michael Cohen

March 16, 2024 | 1:24 pm

TSLA

Tesla Inc (NASDAQ:TSLA) settled a racial discrimination lawsuit with former employee Owen Diaz, who worked at Tesla's Fremont factory in 2015. The lawsuit, which initially awarded Diaz $137 million, was settled for $3.2 million in April 2023. The settlement occurs amidst criticism of Tesla CEO Elon Musk for handling hate speech on his social media platform X and accusations of antisemitism.

Portfolio Pulse from Anan Ashraf

March 16, 2024 | 10:02 am

TSLA

Elon Musk responded to reports of Don Lemon's extravagant demands for hosting a show on X (formerly Twitter) with sharp criticism. Demands included a Tesla Cybertruck, $5M cash, an equity stake in X, and more. Despite initial agreement, Musk found Lemon's interview performance dull and dismissed him. Lemon plans to post the interview on YouTube and X, despite the fallout.

Portfolio Pulse from Rounak Jain

March 16, 2024 | 5:11 am

ADBE

GOOG

GOOGL

Elon Musk expressed concerns about 'woke AI' like Alphabet Inc.'s Google Gemini and Adobe Inc.'s Firefly, suggesting such AI could potentially harm humans to achieve diversity goals. Musk's comments highlight ongoing debates about AI's role in enforcing diversity and the risks of unregulated AI development.

Portfolio Pulse from Rounak Jain

March 16, 2024 | 2:51 am

CSTL

Castle Biosciences announced new data showing its IDgenetix test, which includes drug-drug interactions and lifestyle factors, improves medication recommendations for patients 65 and older with mental health conditions. The study, to be presented at the AAGP Annual Meeting, highlights the test's ability to guide clinicians in selecting optimal neuropsychiatric medications, emphasizing its importance in managing polypharmacy in the elderly. IDgenetix, reimbursed by Medicare for eight mental health conditions, combines genetic information with drug interactions and lifestyle factors to enhance treatment plans.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 8:34 pm

HTZ

Hertz Global Holdings, Inc. (NASDAQ:HTZ) announced Gil West, former COO of Delta Airlines and GM's Cruise unit, as its new CEO effective April 1, 2024, succeeding Stephen Scherr. West aims to focus on operationally-driven revenue and EBITDA growth, leveraging his experience in transportation and operational turnarounds. The transition is part of Hertz's strategy to enhance technology, commercial partnerships, and brand value for long-term success.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 8:32 pm

HITI

High Tide Inc. (NASDAQ:HITI) reported an 8% year-over-year revenue increase to CA$128.1 million for Q1 2024, achieving break-even net income and a significant improvement in Adjusted EBITDA to CA$10.4 million, up 90% from the previous year. The company also highlighted strong cost controls, a growing retail footprint with 165 locations, and a robust membership base. Additionally, High Tide restructured approximately $8.9 million of its outstanding debt and reported record revenue from its Cabanalytics platform.

Portfolio Pulse from Jelena Martinovic

March 15, 2024 | 8:23 pm

BTCUSD

Vanguard's leadership, including Chairman and CEO Tim Buckley and Chief Investment Officer Greg Davis, reaffirmed their stance against offering Bitcoin ETFs, labeling Bitcoin as a speculative asset not suitable for long-term investment portfolios. They emphasized the importance of investing in assets that generate cash flow, such as stocks and bonds, over speculative assets like Bitcoin. This decision reflects Vanguard's commitment to long-term value creation through low-cost index funds.

Portfolio Pulse from Murtuza Merchant

March 15, 2024 | 7:53 pm