Streetbeat News

Partnerships

WDC

Western Digital Corp. (NASDAQ:WDC) is progressing with its plan to separate into two independent, publicly traded companies, focusing on HDD and Flash businesses, by the second half of 2024. The company has made significant advancements in preparation, including establishing legal entities, transferring contracts, and appointing executive leaders for both future companies. David Goeckeler is appointed as CEO Designate for the Flash company, while Irving Tan will become CEO of the standalone HDD company, continuing as Western Digital.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:31 pm

SLP

Simulations Plus, in partnership with the University of Bath, has been awarded an FDA grant to develop an enhanced, validated dermal PBBM/PBPK model. This model aims to inform product development and bioequivalence decisions, marking a significant advancement in the field.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:31 pm

AMZN

GOOG

GOOGL

AI startup Anthropic, backed by Alphabet Inc.'s Google and Amazon.com Inc., has introduced Claude 3, a generative AI model that claims to outperform OpenAI's GPT-4 in several metrics, including graduate-level reasoning and math problem-solving. Claude 3 comes in three sizes and is touted for its superior analysis, forecasting capabilities, content creation, code generation, and multilingual conversation skills. In benchmark tests, Claude 3 Opus slightly outperformed GPT-4 and Gemini Ultra.

Portfolio Pulse from Rounak Jain

March 05, 2024 | 1:24 pm

JPM

MA

V

JP Morgan Chase & Co. (NYSE:JPM) partners with France's Cartes Bancaires CB to expand its European payment network, challenging Visa Inc. (NYSE:V) and Mastercard Incorporated (NYSE:MA). The partnership, granting merchant clients access to the French payment network by end of 2024, positions JP Morgan as the first U.S. bank to be a principal member of Cartes Bancaires CB. This move is expected to enhance JP Morgan's competitive stance in Europe, particularly France, where it processes over $1 trillion of payments daily and supports over 1,500 European clients. Additionally, JP Morgan's AI-powered cashflow management tool, Cash Flow Intelligence, has seen success, reducing manual labor for corporate customers by up to 90%.

Portfolio Pulse from Nabaparna Bhattacharya

March 05, 2024 | 1:20 pm

NGMS

NeoGames S.A. (NASDAQ:NGMS) has expanded its US presence by launching its eInstant games with the Georgia Lottery Corporation, enhancing the lottery's online offerings. This move is part of NeoGames Studio's broader expansion in North America, with future launches planned in West Virginia and Pennsylvania in 2024. The partnership aims to attract a wider player demographic and increase engagement for the Georgia Lottery, which supports the state's HOPE Scholarship and Pre-K programs.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:20 pm

TRIN

Trinity Capital Inc. (NASDAQ:TRIN) has committed $50 million in equipment financing to Electric Hydrogen, a manufacturer of electrolyzer systems for producing green hydrogen. This financing supports Electric Hydrogen's gigafactory in Devens, MA, which is set to begin production in Q2. Electric Hydrogen aims to decarbonize industrial processes with its technology and has raised over $600 million in total capital, including a recent $380 million Series C equity raise.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:19 pm

KMT

Kennametal Inc. (NYSE:KMT) has entered into a strategic partnership with CAM software leader ModuleWorks to drive intelligent and integrated digital manufacturing solutions. This partnership aligns with Kennametal's strategic growth initiatives, particularly in enhancing service for small and medium General Engineering shops and advancing online tool selection, simulation, and tooling packages. The collaboration aims to address customer challenges such as the evolving workforce and the need for greater technical support, aiming for more precise and efficient machining while reducing costs.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:17 pm

SABR

Sabre Corporation (NASDAQ:SABR), a global travel technology provider, announced Gail Mandel as the new non-executive Chair of the Board, effective at the 2024 Annual Meeting on April 24. Mandel, a former Wyndham Worldwide executive and current Sabre Board member since April 2020, will succeed Sean Menke, who is retiring. Mandel's leadership aims to drive Sabre's strategic transformation, focusing on innovation and sustainable growth. Menke, having served since 2016, is credited with leading Sabre through significant challenges and technological advancements.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:17 pm

CRWD

DELL

Dell Technologies (NYSE:DELL) and CrowdStrike (NASDAQ:CRWD) have expanded their strategic partnership to deliver Dell's Managed Detection and Response (MDR) services using the CrowdStrike Falcon XDR platform. This collaboration aims to help customers defend against complex cyberattacks by leveraging Dell's global security operations and CrowdStrike's AI-native platform. The service is now available globally, directly and through channel partners, addressing the cybersecurity skills gap and providing scalable security solutions.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:16 pm

QUIK

QuickLogic Corporation (NASDAQ:QUIK), a developer of embedded FPGA IP and other solutions, has been selected by a large multi-national company to provide eFPGA IP for the TSMC N12e, 12nm process. This IP, scheduled for delivery in fiscal year 2024, is aimed at creating an ultra-low-power SoC for commercial and industrial IoT applications, leveraging AI for data acceleration. QuickLogic's technology was chosen for its ability to adapt to changing AI algorithms, low power consumption, and high throughput.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 1:16 pm