Streetbeat News

Partnerships

MSFT

Sam Altman, former president of OpenAI, is considering a return to the company if certain board members resign. This follows tensions after his move to Microsoft Corp. (NASDAQ:MSFT) was announced. OpenAI staff have signed an open letter calling for the board's resignation and Altman's reinstatement. Despite the appointment of Emmett Shear as CEO, the situation is uncertain, with employees boycotting a meeting with Shear. Meanwhile, Microsoft's stock hit a record high, with a 2.3% increase on Monday and a 58% year-to-date performance, potentially its best year since 1999.

Portfolio Pulse from Piero Cingari

November 20, 2023 | 8:40 pm

AMZN

BYDDY

HYMTF

TSLA

WKSP

BYD Company Limited (OTC:BYDDY) is poised to potentially overtake Tesla Inc (NASDAQ:TSLA) as the world's largest EV maker by the end of 2023. Worksport Ltd. (NASDAQ:WKSP) has announced that its COR portable battery system has entered the Test Phase, moving closer to market release. Hyundai Motor Company (OTC:HYMTF) will use a customized version of Worksport's SOLIS and COR for its Santa Cruz pickup. Hyundai has also partnered with Amazon.com Inc (NASDAQ:AMZN) to sell cars on Amazon and will use Amazon Web Services as its cloud provider, with plans to integrate Amazon Alexa into its vehicles by 2025.

Portfolio Pulse from Upwallstreet

November 20, 2023 | 8:20 pm

MSFT

Nat Friedman, former CEO of Microsoft's GitHub, declined the offer to become Interim CEO of OpenAI. The offer came after OpenAI's board fired co-founder Sam Altman, leading to several senior resignations. OpenAI co-founder Ilya Sutskever confirmed Altman's non-reinstatement and announced Emmett Shear, Twitch co-founder, as the interim leader.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:19 pm

DIS

PENN

Penn Entertainment (NASDAQ:PENN) received an upgrade from Bank of America analyst Shaun C. Kelley from Neutral to Buy, with a price target increase from $27 to $30, following the successful launch of ESPN Bet. The app's strong initial download and app activity, promotional discipline, and stable Q3 earnings for PENN's core gaming business contributed to the upgrade. ESPN Bet, launched through a licensing deal with The Walt Disney Company (NYSE:DIS), saw 865,000 downloads and topped the sports and overall free apps charts. Kelley suggests ESPN Bet could achieve 6-7% market share in online sports betting and 2% in iGaming. PENN shares rose 7.5% to $26.42 on the news.

Portfolio Pulse from Chris Katje

November 20, 2023 | 8:17 pm

JCI

Johnson Controls (NYSE:JCI) received a $33M DOE grant to expand U.S. heat pump manufacturing, increasing production by 200% and creating 1,000 jobs. Facilities in Texas, Kansas, and Pennsylvania will produce 200,000 heat pumps annually, reducing CO² emissions by 25 million metric tons per year. The expansion is part of the Defense Production Act to boost clean energy tech and will involve local partnerships for workforce development.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 8:15 pm

MSFT

Sam Altman, CEO of OpenAI, reaffirmed the commitment to OpenAI's continuity of operations for partners and customers, emphasizing the strength of the partnership with Microsoft (MSFT) to achieve this goal.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 7:45 pm

MSFT

C3.ai, Inc. (NYSE:AI) stock is trading higher as interest in AI companies grows due to leadership changes at Microsoft Corporation (NASDAQ:MSFT) and OpenAI. OpenAI's board removed CEO Sam Altman, who is joining Microsoft's new AI team, along with former OpenAI president Greg Brockman. OpenAI has appointed former Twitch CEO Emmett Shear as interim-CEO. C3.ai is set to report Q2 financial results on Dec. 6. The stock is popular among retail investors and has a high short interest of 39.64%.

Portfolio Pulse from Erica Kollmann

November 20, 2023 | 7:11 pm

MSFT

Sam Altman is reportedly attempting to return as CEO of OpenAI, with the situation at the company remaining unresolved. Despite earlier reports of Altman's move to Microsoft, this transition is not yet finalized. OpenAI's board dynamics are in flux, with Ilya Sutskever, a board member and chief scientist, now supporting Altman. Only two of the three remaining board members need to change their stance for Altman's return to be possible. Altman hinted at ongoing efforts to work together in a recent post on X. Microsoft has declined to comment on the situation.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 7:05 pm

MSFT

Sam Altman and Greg Brockman, formerly of OpenAI, have been hired to lead a new advanced AI research team at Microsoft following their ouster from OpenAI. Analysts from Wedbush, Oppenheimer, and Evercore ISI view this as a positive move for Microsoft, with all maintaining an Outperform rating and setting price targets ranging from $410 to $432. Microsoft's stock was trading at $376.5 at the time of publication.

Portfolio Pulse from Surbhi Jain

November 20, 2023 | 7:02 pm

IFBD

MSFT

PLTR

VERI

AI sector stocks are trading higher due to increased volatility following Microsoft's announcement that Sam Altman and Greg Brockman will lead a new advanced AI research team.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 6:48 pm