Streetbeat News

Partnerships

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), co-founded OpenAI but left due to disagreements, launching a competitor, xAI. Musk invested over $40 million in OpenAI, which he envisioned as open-source, but it became profit-focused. Musk's xAI, with $134.7 million raised from investors, aims to innovate in AI, challenging OpenAI's market position. Musk's experience and strategic vision could make xAI a formidable player in the AI space, despite OpenAI's first-mover advantage.

Portfolio Pulse from Caleb Naysmith

January 22, 2024 | 5:37 pm

ELAB

INMB

Elevai Labs, Inc. has entered into a License Agreement with INmune Bio, Inc. to obtain exclusive and non-exclusive rights to develop, manufacture, and commercialize INmune's EMx technology for mesenchymal stromal cells. The agreement includes an upfront payment, scheduled payments, a final technology transfer fee, and a capped nominal royalty on sales of licensed products. Elevai will also supply INmune with hUMSCs at a cost-plus basis after successful manufacturing.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 5:09 pm

GOOGL

Alphabet Inc.'s X, the company's moonshot technology lab, is laying off staff and seeking external funding for its projects. The lab is restructuring to allow its ventures to spin out as independent startups with support from both Alphabet and outside investors. This move is part of Alphabet's broader strategy to enhance cost-efficiency across its operations.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:38 pm

FSR

Fisker Inc. has filed a Form 8-K with the SEC, reporting new agreements with an investor regarding its 2025 convertible notes. The agreements include the release of liens on intellectual property upon a deal with a strategic OEM partner and the waiver of financial covenants related to restricted cash. Fisker's outstanding debt has been reduced by $185.5M to $324.5M, reflecting the conversion of debt to equity by the investor.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:03 pm

ACHR

Shares of Archer Aviation Inc (ACHR) are surging after the company announced a Space Act Agreement with NASA for joint efforts in battery characterization. The collaboration will focus on testing battery cells' safety, energy, and power performance for aerospace applications, including eVTOL, eCTOL aircraft, and potential space usage. Archer's battery system for its Midnight electric air taxi will be tested by NASA, with results aimed at advancing the AAM industry. ACHR stock rose 5.43% to $5.34.

Portfolio Pulse from Lekha Gupta

January 22, 2024 | 3:45 pm

DWAC

FSLY

NS

RUM

SGMT

U.S. stocks traded higher on Monday, with notable gains in several companies. NuStar Energy L.P. (NS) surged after Sunoco's acquisition announcement. Other stocks like Sagimet Biosciences (SGMT), Rumble (RUM), Digital World Acquisition Corp (DWAC), and Fastly (FSLY) also saw significant increases due to various positive news, including clinical trial results, partnerships, and analyst upgrades.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 3:45 pm

PLTR

Palantir Technologies, Inc. (NYSE:PLTR) stock is trading higher, influenced by the broader market's strength after the S&P 500 hit a new all-time high. The company's recent board meeting in Tel Aviv and partnership with the Israeli military for technological support are also contributing factors. Palantir is experiencing heavy trading volume and is set to report Q4 financial results on February 5. The stock has risen 9.2% to $18.33.

Portfolio Pulse from Erica Kollmann

January 22, 2024 | 3:37 pm

RUM

Rumble Inc (NASDAQ:RUM) shares surged after announcing a partnership with Barstool Sports, which will bring Barstool content to Rumble's platform and include marketing and advertising arrangements. The collaboration is expected to leverage Barstool's significant growth and Rumble's appeal to the under-30 demographic, aiming to position Rumble as a leader in video, cloud, and livestreaming services.

Portfolio Pulse from Adam Eckert

January 22, 2024 | 2:31 pm

RUM

Rumble Inc. shares have seen an uptick following the announcement of a new partnership with Barstool Sports. This collaboration is expected to bring new content and potentially increase user engagement on Rumble's platform.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 2:10 pm

GFS

IFNNY

Infineon Technologies AG and GlobalFoundries have extended their long-term agreement to supply AURIX™ TC3x 40 nanometer automotive microcontrollers, power management, and connectivity solutions. This partnership, which began in 2013, focuses on automotive, industrial, and security semiconductor technology. The agreement secures additional capacity for Infineon's business growth from 2024 to 2030 and supports the transition towards autonomous, connected, and electrified vehicles. The collaboration emphasizes the importance of a resilient supply chain and innovation in the automotive industry.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 2:06 pm