Streetbeat News

Partnerships

BGXX

Bright Green Corporation (NASDAQ:BGXX) has received final approval from the New Mexico Board of Pharmacy and the DEA to research and produce Schedule I and II plant-based drugs. This approval allows the company to advance its 'Drugs Made in America' movement, addressing the supply chain shortage for plant-based medicines. The research and production will occur in Albuquerque and Grants, New Mexico, respectively. CEO Groovy Singh plans to leverage capital from an EB-5 partnership and federal agencies for infrastructure expansion. BGXX shares traded 4.5222% lower at $0.2238.

Portfolio Pulse from Jelena Martinovic

February 23, 2024 | 8:10 pm

EWJ

TSM

Japan is set to provide approximately $4.85 billion in subsidies for TSMC's second chip plant in Kumamoto, aiming to enhance domestic chip production competitiveness. The subsidies, announced during the opening of TSMC's first Kumamoto plant, support the construction of a facility that will produce more advanced 6-nanometer chips. This move is part of Japan's broader strategy to bolster its semiconductor industry, with TSMC investing over $20 billion in both plants. The plants are expected to significantly contribute to technologies like autonomous driving and AI.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:16 pm

INTC

TSM

Intel CEO Pat Gelsinger confirmed that two upcoming Intel processors will be manufactured using TSMC's 3nm technology. This marks the first official acknowledgment of Intel's utilization of TSMC's advanced manufacturing processes for its processors.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 5:03 pm

IFFNNF

NVDA

TSLA

Tesla Inc (TSLA) and Nvidia Corporation (NVDA) are highlighted for their advancements in AI and semiconductors, crucial for EV development. Tesla's in-house AI chip efforts pose a potential challenge to Nvidia. Worksport partners with Infineon Technologies (IFFNNF) to enhance its portable power stations and solar-powered tonneau covers, aiming to support EVs like Ford Motor's (F) F-150 Lightning. Infineon bets on the AI boom to boost chip sales, despite a cautious outlook for 2023/2024.

Portfolio Pulse from Upwallstreet

February 23, 2024 | 4:35 pm

AMZN

GOOGL

META

MSFT

NFLX

NVDA

SOXX

XLK

Wedbush analyst Daniel Ives highlighted Nvidia's significant role in sparking a 'generational tech transformation' with its GPUs, driving the AI revolution. He compared the current AI investment wave to the pivotal moment in 1995, predicting a substantial increase in tech spending. Ives also noted the accelerated CapEx for AI by major tech companies like Microsoft, Alphabet, Meta Platforms, Amazon, and others, emphasizing the importance of not missing out on this transformation. The Technology Select Sector SPDR Fund and the iShares Semiconductor ETF saw premarket increases.

Portfolio Pulse from Shanthi Rexaline

February 23, 2024 | 2:24 pm

UCAR

U Power Limited (NASDAQ:UCAR) shares are experiencing a premarket increase after announcing a memorandum of understanding with Durapower Holdings to explore battery swapping technology for various vehicles. This news comes amidst a challenging period for U Power, which saw its shares decline by 45% over the last month and received a delisting notice from Nasdaq for failing to meet the minimum bid price requirement. The company plans to appeal the delisting determination.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 2:17 pm

DIT

AMCON Distributing Company (NYSE:DIT) has acquired a new distribution facility in Colorado City, Colorado, marking a significant expansion of its operations. The facility, spanning 249,200 square feet on 38 acres, will enhance AMCON's service in the Rocky Mountain, Intermountain, and Southwest regions. The company plans to invest further in the facility to expand its frozen and refrigerated capabilities, supporting its foodservice initiatives. The move aligns with AMCON's strategic growth objectives and aims to bolster its distribution capabilities across several states.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 2:16 pm

VMAR

Vision Marine Technologies Inc. (VMAR) announced a partnership with Nautical Ventures Marine Group, including an initial order for 50 units of the Phantom, a recyclable boat, and an exclusive distributorship in South Florida. Additionally, VMAR is addressing a Nasdaq compliance issue regarding its stock price.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 2:09 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares are rising in premarket trading after expanding its partnership with Uline to deploy hydrogen infrastructure and fuel cell solutions at Uline's new campus in Kenosha, Wisconsin. This includes the installation of a large hydrogen storage tank, 17 hydrogen dispensers, and the addition of 250 fuel cell forklifts. The partnership, which began in 2015, has grown significantly, with Uline now set to deploy a total of 520 fuel cells across ten facilities. Additionally, Plug Power recently secured a contract to provide similar solutions to a major U.S. automaker for its electric vehicle and battery manufacturing campus.

Portfolio Pulse from Nabaparna Bhattacharya

February 23, 2024 | 2:06 pm

VMAR

Vision Marine Technologies has entered into an exclusive distributorship agreement with Nautical Ventures Marine Group, making them the sole distributor of the Phantom in South Florida. This partnership kicks off with an initial purchase order of 50 units of the Phantom, Vision Marine's innovative rotomolded, recyclable boat.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 2:06 pm