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Partnerships

MSFT

TSLA

Figure AI Inc., a humanoid robot startup, is in advanced talks to secure up to $500 million in funding led by Microsoft Corporation and OpenAI. Microsoft may invest $95 million and OpenAI $5 million, potentially valuing Figure AI at $1.9 billion pre-funding. The company, which develops AI-powered robots for hazardous tasks, previously raised $70 million led by Parkway Venture Capital. The deal is not yet finalized and may change or not occur at all. Tesla's Optimus robot and China's humanoid robot production plans are also mentioned in the context of the industry.

Portfolio Pulse from Ananya Gairola

January 31, 2024 | 5:59 am

TSLA

Redwood Materials, co-founded by Tesla's J.B. Straubel, used a Tesla Cybertruck to transport 10,000 pounds of recycled battery materials in Nevada. This showcases the Cybertruck's utility in heavy-duty work and supports Redwood's mission to create a circular supply chain for battery materials. Redwood is expanding its operations, including building a cathode plant, and has raised significant capital for enhancing its capacity and selling U.S.-produced battery materials. The company's efforts are crucial as the demand for lithium-ion batteries is expected to increase substantially.

Portfolio Pulse from Benzinga Neuro

January 31, 2024 | 5:59 am

MARK

MSFT

Remark Holdings Inc (MARK) experienced a significant stock price surge after announcing an $80 million partnership with Microsoft (MSFT) on social media. However, after market close, Remark clarified the details of the deal in a regulatory filing, revealing that it involved $80 million of Microsoft Azure services consumption, $2 million in Azure credits, and $0.7 million in consulting credits over five years. This clarification led to a sharp decline in Remark's stock price in after-hours trading.

Portfolio Pulse from Adam Eckert

January 31, 2024 | 12:44 am

MARK

MSFT

Microsoft has entered into a five-year cloud services and marketing agreement with Remark Holdings, according to a recent filing. Remark's AI business unit and its customers are set to consume $80 million of Microsoft Azure cloud services. Microsoft will support Remark AI's integration of new customers with Azure by co-marketing Remark AI’s solutions on the Azure Marketplace, providing $2 million in Azure credits, and approximately $0.7 million in consulting and migration credits.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 10:34 pm

MPTI

M-tron Industries has formed a special independent strategic committee to explore strategies to enhance value, including defense engagements, joint ventures, and potential M&A activity in the aerospace and defense industry.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:51 pm

SINT

SINTX Technologies' stock is up following the announcement that its subsidiary, Technology Assessment & Transfer, has signed a Cooperative Research and Development Agreement with the U.S. Army Combat Capabilities Development Command Army Research Laboratory.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:46 pm

NAVI

Navient, a major player in the student loan servicing sector, has announced plans to outsource its student loan servicing operations following a comprehensive review of its business. Additionally, the company is exploring strategic options for its Business Processing division, which could include a sale or other transaction. These strategic actions are aimed at optimizing Navient's business model and focusing on areas with the most potential for growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:32 pm

SINT

SINTX Technologies, through its subsidiary Technology Assessment & Transfer, has entered into a Cooperative Research and Development Agreement with the U.S. Army. The partnership aims to combine expertise in ceramic additive manufacturing and ceramic matrix composites. Financial terms of the agreement were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:31 pm

NAVI

Navient Corporation plans to outsource its student loan servicing operations to create a variable expense model. The company is also exploring strategic options for its Business Processing division, which may include a potential divestment.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 9:31 pm

MARK

MSFT

The CEO of Remark Holdings has confirmed to Benzinga the company's partnership with Microsoft Azure, indicating a collaboration between the two companies.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 8:06 pm