Streetbeat News

Partnerships

COST

PEP

TSLA

WMT

Tesla Inc.'s Semi trucks are gaining significant traction among S&P 500 companies, with a recent sighting of a Semi truck featuring the Costco Wholesale Corp. logo in California. This follows previous engagements with Walmart Inc. and PepsiCo Inc., who have also shown interest in Tesla's electric trucks. Tesla anticipates starting Semi deliveries in late 2025, with increased production expected at Gigafactory Nevada.

Portfolio Pulse from Ramakrishnan M

May 07, 2024 | 7:38 am

LCID

Lucid Group (NASDAQ:LCID) anticipates a sales decline in the next two quarters despite a nearly 40% increase in first-quarter deliveries to 1,967 vehicles. CEO Peter Rawlinson attributes the expected slowdown to seasonal factors, including vacations and a slowdown in Saudi Arabia, where over 25% of Lucid's sales occur. The Saudi Public Investment Fund (PIF), a major investor in Lucid, has contributed $6.4 billion since 2018 and agreed to purchase up to 100,000 vehicles over ten years. Despite a Q1 loss of $680.9 million, Lucid raised $1 billion from a PIF affiliate, boosting its liquidity to $5.03 billion. Lucid's stock saw a 9.5% increase before dropping 7.9% after hours.

Portfolio Pulse from Anan Ashraf

May 07, 2024 | 6:41 am

AAPL

RIVN

Apple, Inc. (AAPL) is rumored to be considering a partnership with Rivian Automotive, Inc. (RIVN) for electric vehicle development, following a report by Digitimes. This speculation arises despite Apple previously halting its self-driving car project, 'Project Titan', to focus on generative AI. Rivian, facing its own challenges with losses and production issues, is moving forward with its next-generation EVs on the R2 platform. Both companies have upcoming events, with Rivian reporting Q1 results and Apple hosting a hardware launch.

Portfolio Pulse from Shanthi Rexaline

May 07, 2024 | 6:35 am

GSK

BioVersys and GSK have expanded their partnership to accelerate the clinical development of alpibectir for treating tuberculosis. GSK will participate in the Series C Extension with an equity investment, extending the financing round by CHF 12.3 million to a total of CHF 44.9 million.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:18 am

AAPL

AMZN

GOOG

META

MSFT

TSM

Apple Inc. is reportedly developing its own AI chips for data centers, aiming to join tech giants like Amazon, Alphabet, Microsoft, and Meta in using custom semiconductors. The project, named ACDC, is in collaboration with Taiwan Semiconductor Manufacturing but faces uncertainty. Skepticism arises from a Bloomberg columnist, citing a similar project's cancellation in 2018. Apple's move is part of its broader strategy to advance in generative AI, including acquiring DarwinAI and potentially partnering with OpenAI for iPhone features.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 6:16 am

Boeing Co's (NYSE:BA) first crewed test flight of the Starliner space capsule has been postponed due to a technical issue, marking another setback in its space program. The delay follows a series of challenges, including a parachute failure in 2019 and software glitches in 2020, despite successful milestones like the Starliner's docking with the ISS in 2022. Boeing had aimed for a crewed flight by March 2023, with support from SpaceX's Elon Musk on parachute systems.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 4:26 am

BTCUSD

DOGEUSD

Elon Musk, CEO of Tesla and SpaceX, met with Argentina's President Javier Milei, a known Bitcoin supporter, for the second time in less than a month at the Milken Institute Global Conference. Musk recommended investing in Argentina and highlighted their shared pro-cryptocurrency stance. Both have previously expressed support for cryptocurrencies like Bitcoin and Dogecoin. The meeting could hint at future collaborations in the cryptocurrency field. Bitcoin and Dogecoin experienced slight price movements, with Bitcoin dropping 0.6% and Dogecoin plunging 4.4%.

Portfolio Pulse from aniketverma@benzinga.com

May 07, 2024 | 2:56 am

JPM

JPMorgan Chase announced that Visa has accepted its Class B-1 Common Stock. This development could potentially strengthen the partnership between the two financial giants, impacting their stock performance.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:45 pm

NioCorp Developments Ltd. (NASDAQ:NB) has received a preliminary, non-binding indicative financing term sheet from the Export-Import Bank of the United States (EXIM) for $800 million in debt financing for the Elk Creek Critical Minerals Project. This step is part of the initial due diligence and loan application process with EXIM, and NioCorp's management is actively working with EXIM to advance the project further.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:17 pm

NBR

VIST

Vista Energy (NYSE:VIST) and Nabors Industries (NYSE:NBR) have signed a contract to deploy a third drilling rig to accelerate the development of Vaca Muerta in Argentina. This expansion aims to increase operational excellence and reduce the carbon footprint of operations, with the rig expected to start in the second half of 2024. The partnership highlights the strategic relationship between the two companies, focusing on technological advancement and environmental sustainability.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:11 pm