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Partnerships

BMY

TSVT

The U.S. FDA has approved Abecma, a CAR T cell therapy developed by Bristol Myers Squibb (BMY) and 2seventy bio (TSVT), for relapsed or refractory multiple myeloma after two prior lines of therapy. This approval, based on the Phase 3 KarMMa-3 trial, marks a significant advancement in treatment, offering a 51% reduction in disease progression or death risk and a well-established safety profile. Abecma is now available in the U.S., Japan, Switzerland, and the EU for earlier use in treating triple-class exposed relapsed and/or refractory multiple myeloma.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:07 pm

EXPI

eXp Realty, a subsidiary of eXp World Holdings, Inc. (NASDAQ:EXPI), announced Leo Pareja as its new CEO, effective immediately. Pareja, previously the Chief Strategy Officer, is recognized for his innovative leadership and contributions to the company's growth, including strategic initiatives like eXp Exclusives and Revenos. Glenn Sanford, the former CEO, will focus on his role as Founder, Chairman, and CEO of eXp World Holdings. The company has been recognized in the RealTrends 500 report, highlighting its market share growth and agent-centric approach.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:06 pm

BIDU

GOOG

GOOGL

INTC

LPSN

MET

MSFT

NVDA

ORCL

QCOM

Saudi Arabia is advancing its position in the artificial intelligence (AI) sector by establishing a megafund and making direct investments in AI companies. This strategic move aims to diversify the kingdom's economy and enhance its technological capabilities. The initiative could potentially involve partnerships or investments in major US-listed companies known for their AI advancements, such as Baidu (BIDU), Alphabet (GOOG, GOOGL), Intel (INTC), LivePerson (LPSN), MetLife (MET), Microsoft (MSFT), NVIDIA (NVDA), Oracle (ORCL), and Qualcomm (QCOM).

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:04 pm

DELL

Dell Technologies has partnered with Northwestern Medicine to advance patient care through AI innovation. This collaboration aims to leverage artificial intelligence to improve healthcare services and outcomes.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:02 pm

ACGL

Arch Insurance North America, part of Arch Capital Group Ltd. (NASDAQ:ACGL), is set to acquire Allianz's U.S. MidCorp and Entertainment insurance businesses for $450M. The deal includes a $1.4B capital requirement for Arch and involves the transfer of approximately 500 employees. This acquisition aims to expand Arch's presence in the U.S. middle market and enhance its specialty insurance portfolio. The transaction, expected to close in the second half of 2024, is subject to regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:01 pm

CWK

Cushman & Wakefield (CWK) has been chosen by the Massachusetts Institute of Technology (MIT) to participate in a study focused on Generative AI and the future of work. This new initiative brings together top companies and nonprofits, backed by financial support from Google's Community Grants Fund.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:01 pm

GCTS

GCT Semiconductor Holding, Inc. (NYSE:GCTS) shares surged in premarket trading after announcing a strategic collaboration with Aramco to enhance the 4G/5G ecosystem in Saudi Arabia. This partnership aims to develop customized chipsets and modules for LTE, 5G, and the NTN spectrum, supporting wireless device localization and IoT production. The company, which recently went public through a business combination with Concord Acquisition Corp III, sees this collaboration as a catalyst for product development and commercialization in the transition from 4G to 5G.

Portfolio Pulse from Nabaparna Bhattacharya

April 05, 2024 | 12:53 pm

LAES

SEALSQ Corp (NASDAQ:LAES) announces the launch of SEALCOIN, a Hybrid Payment & Utility Token, expected in Q4 2024. SEALCOIN aims to enable seamless data and currency exchanges across billions of internet-connected devices. The platform will introduce a Machine-to-Machine (M2M) Proof of Concept in mid-July 2024, showcasing its capabilities for Service vs Payment transactions. Following the platform's launch, SEALCOIN will be issued and proposed for listing on a digital exchange. This initiative marks a significant step in secured peer-to-peer transactions in both physical and digital realms.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:47 pm

IBM

IBM and the Government of Spain have announced a strategic collaboration to advance Spain's national AI strategy and develop leading Spanish language AI models. This partnership, formalized through a Memorandum of Understanding, aims to promote the development and deployment of open, ethical, and responsible generative AI in Spain. It focuses on creating large and small language models proficient in Spanish and co-official languages, enhancing AI sustainability, reducing biases, and fostering an ecosystem of AI creators. The collaboration also intends to develop AI-enhanced techniques for the semiconductor industry and leverage IBM's AI framework for community contributions.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 12:45 pm

GCTS

GRIN

MDIA

GCT Semiconductor Holding, Inc. (GCTS) and Aramco signed an MOU to boost the 4G and 5G ecosystem in Saudi Arabia. Grindrod Shipping Holdings (GRIN) announced a selective capital reduction, leading to a share price increase. Mediaco (MDIA) shares surged after Standard General L.P. disclosed a 95.2% stake in the company.

Portfolio Pulse from ryanfaloona@benzinga.com

April 05, 2024 | 12:38 pm