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Partnerships

VIOT

Viomi Technology Co., Ltd (NASDAQ:VIOT), a leading IoT@Home company in China, has announced the creation of a strategic business unit (SBU) focused on water purification. The company aims to leverage its R&D and manufacturing capabilities in this area. Viomi has appointed Qi Chen, a former executive of A.O. Smith (China) Water Heater Co., Ltd., as president of the new water purification SBU. Chen brings extensive experience from the water purification industry and sales management in FMCG corporations.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 7:17 am

FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) has announced its expansion into the Middle East market through strategic cooperation agreements with Master Investment Group and Siraj Holding LLC. The company also unveiled the FF 91 2.0 Futurist aiFalcon Limited Edition, specifically designed for the Middle East market, featuring exclusive colors and wheel designs. FFIE plans to begin operations in the region in 2024 and will showcase its North American model at the Abu Dhabi Yas Marina Circuit during the Formula 1 Abu Dhabi Grand Prix Weekend starting November 24.

Portfolio Pulse from Charles Gross

November 23, 2023 | 8:34 pm

AAPL

AMZN

CHWY

ETSY

GOOG

META

NVDA

PINS

SNAP

TSLA

Morgan Stanley analyst Brain Nowak highlights key AI debates for 2024, focusing on personal AI assistants, the future of search, AI creator tools, SMID-cap AI beneficiaries, AI ASIC adoption, AI regulation, foundational model market share, robotics, health care, and autonomous vehicles. Alphabet (GOOG, GOOGL) is seen as leading in personal AI assistant technology and health care advances, while Amazon (AMZN), Apple (AAPL), and Meta (META) are also positioned well. SMID-cap companies like Snap (SNAP) and Pinterest (PINS) could benefit in online advertising, and Chewy (CHWY) and Etsy (ETSY) in e-commerce. Nvidia's (NVDA) dominance in GPUs may be challenged by custom AI chips from Amazon, Google, Meta, and Microsoft. Autonomous vehicle development is a sector to watch, with Alphabet, Amazon, Tesla (TSLA), and General Motors (GM) as key players.

Portfolio Pulse from Shanthi Rexaline

November 23, 2023 | 5:53 pm

AAPL

Apple Inc.'s (NASDAQ:AAPL) iPhone exports from India have soared to $5 billion from April to October, marking a 177% increase from the previous year. This growth is attributed to Apple's manufacturing under India's PLI program, with iPhones now comprising 62% of India's smartphone exports. Local company Tata Electronics is set to supply iPhones after acquiring Wistron's assembly lines. The shift in Apple's manufacturing strategy highlights India's rising role in the global smartphone market.

Portfolio Pulse from Shomik Sen Bhattacharjee

November 23, 2023 | 12:02 pm

Coca-Cola Company (NYSE:KO) is entering India's ready-to-drink tea market with 'Honest Tea' through its Indian branch, Coca-Cola India. The organic green tea for the product will be sourced from Luxmi Tea Co Private Ltd's Makaibari Tea Estate in Kolkata. The entry into the market was announced at the Bengal Global Business Summit, where a Memorandum of Understanding was signed between Coca-Cola India and Luxmi Tea Co. The 'Honest Tea' will be available in Lemon-Tulsi and Mango flavors.

Portfolio Pulse from Benzinga India Staff

November 23, 2023 | 11:20 am

MSFT

Microsoft Corp. (NASDAQ:MSFT) had plans to accommodate OpenAI staff in its San Francisco LinkedIn offices following Sam Altman's temporary removal as CEO. The company was preparing resources, including MacBook laptops and training clusters, for OpenAI's team. However, with Altman's reinstatement as CEO, the move might be halted. This comes amid internal discontent at Microsoft due to pay disparities, especially during a period of layoffs and salary freezes. Microsoft, a major investor in OpenAI, also sought to implement management changes at OpenAI to maintain strategic oversight.

Portfolio Pulse from Benzinga Neuro

November 23, 2023 | 4:09 am

MSFT

Sam Altman, CEO of OpenAI, was reportedly dismissed following a staff letter about a significant AI breakthrough named Q*. Elon Musk expressed extreme concern over the development. The AI, Q*, is a step towards AGI and has shown the ability to solve certain mathematical problems. Over 700 employees considered leaving for Microsoft due to the revelation. Altman is set to return as CEO with a new board. Earlier, Musk had called for a pause in advanced AI development, to which Altman had responded skeptically.

Portfolio Pulse from Benzinga Neuro

November 23, 2023 | 12:25 am

BGXX

Bright Green Corporation (NASDAQ:BGXX) reported its Q3 2023 financial results with no revenues, reduced operating expenses from $5.8 million in Q3 2022 to $1.8 million, and a net loss of $1.9 million, which was in line with expectations. The company, under executive chairman Terry Rafih, is a DEA-registered entity for cannabis research and pharmaceutical purposes. It appointed Groovy Singh as CEO, executed an EB-5 capital raising program, and settled $3.6 million in debt with shares and warrants. BGXX also applied for regulatory approval to produce additional controlled substances and joined the Russell 3000 Index in June 2023. The stock traded down at $0.2878 per share, a 3.10% decrease.

Portfolio Pulse from Joana Scopel

November 22, 2023 | 10:57 pm

AMZN

GOOGL

MSFT

OpenAI's leadership turmoil has prompted rivals like Google and Amazon to target its customers with incentives to switch platforms. Google is matching OpenAI's pricing and offering cloud credits and support for customers to use its AI software. Amazon emphasizes the value of its strategy, allowing customers to choose from multiple AI systems. OpenAI, with Microsoft's $13 billion investment, remains a large player, but companies are now considering diversifying their AI suppliers to avoid overreliance on a single provider. OpenAI has reinstated Sam Altman as CEO and named a new board to address concerns. Competitors are quickly moving to capitalize on the situation, with some reporting increased interest from businesses.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 10:21 pm

AAPL

CMCSA

DTC

MCD

NFLX

PARA

WBD

The 97th Macy's Thanksgiving Day Parade will feature new balloons and floats from various companies. Comcast's NBC will broadcast the event, showcasing its properties with a new balloon and float. Paramount Global will feature the Good Burger Mobile and a Teenage Mutant Ninja Turtles float. Warner Bros. Discovery will present a Wonka-themed float. Solo Brands' Solo Stove will have a float emphasizing family memories. Netflix will debut a balloon for its film 'Leo' and highlight the 'One Piece' series. Apple's Peanuts franchise will introduce Beagle Scout Snoopy, and McDonald's will showcase its characters. The parade will also mark the first inclusion of an NFT collection with Cool Cats' balloon.

Portfolio Pulse from Chris Katje

November 22, 2023 | 8:09 pm