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Partnerships

META

Meta Platforms Inc. CEO Mark Zuckerberg emphasized the company's ongoing commitment to the metaverse, despite the current focus on AI. In a podcast interview, he highlighted Meta's substantial annual investment of at least $15 billion in both AI and the metaverse. Zuckerberg's remarks underscore the importance of the metaverse to Meta's long-term strategy, even as AI garners more immediate attention. This comes amid scrutiny of Meta's metaverse initiatives, including a public critique by Elon Musk and layoffs in the Reality Labs unit.

Portfolio Pulse from Ananya Gairola

February 19, 2024 | 9:10 am

META

Meta Platforms Inc. CEO Mark Zuckerberg commented on Sam Altman's $7 trillion AI chipmaking plan, calling it 'astronomical' but not dismissing its necessity for AI's future. Zuckerberg highlighted the growing demand for chips in AI model training, suggesting the industry will face physical constraints requiring significant investment. Altman's plan, seeking approval from the U.S. government, aims to prevent a chip shortage that could impede AI adoption.

Portfolio Pulse from Ananya Gairola

February 19, 2024 | 5:14 am

AAPL

GOOG

META

MSFT

Mark Zuckerberg, CEO of Meta Platforms Inc (META), discussed the ongoing trend of layoffs in the tech industry on 'The Morning Brew', attributing it to a shift towards more efficient operational models. He mentioned that the initial layoffs were a correction to the pandemic-induced expansion, but the trend continues as companies, including Meta, Microsoft (MSFT), and Alphabet's Google (GOOG), aim for leaner structures. Zuckerberg also highlighted competition with Apple (AAPL) in virtual reality and augmented reality, expressing respect for Apple's work despite a longstanding rivalry.

Portfolio Pulse from Bibhu Pattnaik

February 17, 2024 | 9:14 pm

INTC

Intel Corporation is in discussions with the Biden administration to receive over $10 billion in subsidies as part of the 2022 Chips and Science Act. This funding, aimed at reviving semiconductor manufacturing in the U.S., could include loans and direct grants. The effort reflects a strategic shift towards domestic chip production. Additionally, Intel is seeking to raise at least $2 billion in equity for a semiconductor plant in Ireland, following a partnership with Brookfield Infrastructure Partners for manufacturing expansion in Arizona.

Portfolio Pulse from Nabaparna Bhattacharya

February 17, 2024 | 7:32 pm

FSR

KARS

LCID

RIVN

STLA

TSLA

Electric vehicle stocks had mixed performances in the week ending Feb. 16, with Tesla seeing a third week of gains and Rivian pulling back after a previous rally. Key events included Tesla's Model 3 LR price hike, Stellantis adopting Tesla's charging standard, a temporary relaxation of a strike against Tesla, Rivian teasing its R2 platform, Lucid's price cuts and CEO bonus controversy, and GM and Ford's openness to partnerships against Chinese rivals. Fisker announced dealer partnerships, and the KraneShares Electric Vehicles ETF saw a weekly gain.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 2:18 pm

INTC

SSNLF

TSM

Sam Altman, CEO of OpenAI, is seeking approval from the Biden administration for a $7 trillion project to increase global semiconductor production for AI chips. Altman has discussed potential investments with major chip manufacturers like Taiwan Semiconductor Manufacturing Co. (TSM), Intel Corp. (INTC), and Samsung Electronics Co. (SSNLF), as well as with Middle Eastern sovereign wealth funds. The project aims to prevent a potential shortage of advanced computing chips, crucial for AI's widespread deployment. However, it faces potential regulatory hurdles, including national security reviews and antitrust concerns.

Portfolio Pulse from Rounak Jain

February 17, 2024 | 4:46 am

MSFT

OpenAI, the company behind ChatGPT, has been valued at $86 billion after finalizing an agreement allowing employees to sell their shares. The deal, led by Thrive Capital, comes after a delay due to the temporary ousting of CEO Sam Altman. OpenAI is considering raising new funding at a valuation over $100 billion and has secured $13 billion from Microsoft and others. The company's success with ChatGPT and new ventures like Sora, a text-to-video generator, highlight its rapid growth and potential to disrupt the tech industry.

Portfolio Pulse from Ananya Gairola

February 17, 2024 | 4:07 am

CMCSA

DIS

DKNG

NKE

PARA

Tiger Woods' return to golf in 2024, starting with the Genesis Invitational, is seen as beneficial for the sport and the sports betting sector. DraftKings CEO Jason Robins highlighted the positive impact Woods' participation could have on golf interest and betting. Woods, who recently launched a new apparel brand with TaylorMade after ending his sponsorship with Nike, is competing in his first official tournament since April. The event is broadcasted by media partners including Walt Disney Co, Paramount Global, and Comcast Corporation, with DraftKings offering various betting odds on Woods' performance.

Portfolio Pulse from Chris Katje

February 16, 2024 | 10:25 pm

FSR

Fisker has signed four dealer partners in the US as part of its strategic shift to a Dealer Partnership model, aimed at scaling up for Fisker Ocean deliveries and future models. The company has received interest from over 250 dealers globally. The new dealers will sell vehicles in six states across seven locations.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 8:54 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares surged on high trading volume following their Q4 earnings report. The company reported a significant reduction in losses per share compared to the previous year and highlighted strong vehicle production and delivery numbers for the quarter. Mullen's strategic pivot to commercial EVs has been fruitful, with increased demand for its vehicles. Additionally, Bollinger Motors, part of Mullen, announced LaFontaine Automotive Group as its first authorized dealer.

Portfolio Pulse from Erica Kollmann

February 16, 2024 | 8:01 pm