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Partnerships

NOC

Northrop Grumman Corporation (NYSE:NOC) and LIG Nex1 have signed a Memorandum of Understanding to collaborate on airborne electronic warfare and targeting systems for the Republic of Korea. The agreement was signed at the Seoul International Aerospace and Defense Exhibition 2023 (ADEX 2023). Northrop Grumman has a deep expertise in airborne electronic warfare and targeting systems, including the ALQ-257 F-16 Integrated Viper Electronic Warfare System, the LITENING advanced targeting pod and the APR-39D(V)2 and E(V)2 radar warning receivers.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 3:10 pm

AAPL

HNHPF

NVDA

Nvidia Corp (NVDA) is expanding its partnership with Foxconn (HNHPF) to develop AI-powered data centers and robotics platforms. However, Wall Street analysts predict a negative impact on Nvidia due to the US embargo on China, which historically represents 20%-25% of NVDA's data center revenues. KeyBanc analyst John Vinh sees this as a long-term damage for NVDA, potentially presenting a ~$20 billion headwind. Bernstein analyst Stacy A. Rasgon and Raymond James analyst Srini Pajjuri, however, remain confident in the long-term Total Addressable Market (TAM), regardless of China's participation.

Portfolio Pulse from Anusuya Lahiri

October 18, 2023 | 3:03 pm

AMZN

COOL

Noventiq Holdings PLC, a global digital transformation and cybersecurity solutions provider, has announced a multi-year Strategic Collaboration Agreement with Amazon Web Services (AWS). The collaboration aims to support customers in migrating and modernizing their IT workloads and data on the Cloud. Noventiq will expand its AWS solutions and services across India, Europe, and the Middle East. Noventiq is also in a proposed business combination with Corner Growth Acquisition Corp. (NASDAQ:COOL), which is expected to result in the combined company being listed on Nasdaq under the symbol 'NVIQ'.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:58 pm

AVGO

CDNS

Cadence Design Systems (CDNS) has collaborated with Broadcom (AVGO) to implement AI-driven design flows to accelerate the delivery of their innovative 3nm and 5nm designs. Using Cadence's AI-driven Cerebrus Intelligent Chip Explorer, Broadcom achieved performance, power and area (PPA) benefits. The AI technology has helped automate tasks, improve final design data and turnaround time, and provide valuable insights into design data.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:47 pm

FCEL

FuelCell Energy Inc (FCEL) announced that its electrolyzers will be used in a hydrogen and nuclear study in the UK, contracted by EDF Energy. The project aims to decarbonize asphalt production using hydrogen, produced in bulk at a lower cost using FuelCell's 1-Megawatt Solid Oxide Electrolyzer Cell with nuclear generated heat and electricity. The company's shares were trading lower, down 5.37% at $1.32.

Portfolio Pulse from Adam Eckert

October 18, 2023 | 2:36 pm

EIS

SPY

President Biden has announced an agreement with Israel to allow humanitarian aid to move from Egypt to Gaza. He also reiterated his support for a two-state solution.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:22 pm

BA

SPR

Spirit AeroSystems Holdings Inc (NYSE:SPR) shares surged after the company reached an agreement with Boeing Co (NYSE:BA) to support production stability and issued guidance. Spirit anticipates Q3 revenue of $1.43 billion to $1.45 billion, up from $1.277 billion last year, driven by higher production volumes.

Portfolio Pulse from Adam Eckert

October 18, 2023 | 2:11 pm

NVDA

NVIDIA has announced major expansions to its robotics platform, including new generative AI, APIs, and microservices. The company's Isaac ROS robotics framework has entered general availability, and the Metropolis expansion on Jetson is coming next. NVIDIA has also created a Jetson Generative AI Lab for developers. The company's AI and Jetson platform have been chosen by over 1.2 million developers and 10,000 customers, including Amazon Web Services, Cisco, John Deere, Medtronic, Pepsico, and Siemens. Generative AI is expected to add $10.5 billion in revenue for manufacturing operations worldwide by 2033.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:09 pm

CAE

CAE and Aircraft Performance Group (APG) have announced a strategic partnership to enhance CAE's business aviation training. The partnership will leverage APG's expertise in aircraft performance and runway analysis instruction. As part of the partnership, CAE instructor pilots will be trained on runway analysis and the intricacies of mastering the coordination between a SID (Standard Instrument Departure) and an EOP (Engine Out Procedure). The training aligns with FAA notice N 8900.664, emphasizing the importance of proper training in utilizing contractor's data or other airport obstacle analysis programs.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 2:07 pm

ATXG

Addentax Group Corp. (NASDAQ:ATXG) has entered a research and development agreement with Xi'an University of Electronic Science and Technology and GW Reader Sdn. Bhd., a global pan-entertainment platform. The collaboration aims to advance AI-based content extraction and creation for novels. Addentax will retain full copyright, usage, and ownership of the R&D products resulting from this collaboration.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 1:46 pm