Streetbeat News

Partnerships

BABA

BIDU

NVDA

TCEHY

Chinese internet giants including Baidu, ByteDance, Tencent, and Alibaba have placed orders totaling $5 billion for Nvidia's A800 processors and graphics processing units (GPUs) for delivery in 2023 and 2024. The A800 processors are a modified version of Nvidia's A100 GPUs, tailored for data centers due to U.S. export restrictions. Nvidia's GPUs are highly sought after for computing power in developing large language AI models. Nvidia dominates the AI chips market with over 80% market share.

Portfolio Pulse from Anusuya Lahiri

August 10, 2023 | 10:28 am

DAL

Wheels Up Experience Inc (UP) is in active discussions about strategic business partnerships and has raised concerns about its ability to continue operations without additional funding. The company has received a short-term capital infusion from Delta Air Lines Inc (DAL) and has signed a non-binding letter of intent with Airshare to sell its non-core aircraft management business. Wheels Up has postponed its earnings call and plans to file its Form 10-Q by August 14, 2023. UP shares are trading lower by 5.77% premarket.

Portfolio Pulse from Lekha Gupta

August 10, 2023 | 9:49 am

El Al Israel Airlines is reportedly in talks with Boeing to purchase 737 Max aircraft. The news was announced by the CEO of El Al Israel Airlines.

Portfolio Pulse from Charles Gross

August 10, 2023 | 8:41 am

BABA

NWSA

PENN

RBLX

USFD

Investor sentiment in the US has declined ahead of fresh inflation data, with US stocks closing lower on Wednesday. PENN Entertainment shares gained over 9% after reporting better-than-expected Q2 results and announcing an exclusive US online sports betting agreement with ESPN. Roblox Corporation shares dipped around 22% after reporting worse-than-expected Q2 results. Investors are awaiting earnings results from US Foods Holding Corp., Alibaba Group Holding Limited, and News Corporation.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 6:15 am

PENN

PENN Entertainment's CEO Jay Snowden discussed the company's divestiture of Barstool Sports back to its founder Dave Portnoy and a new partnership with ESPN. Portnoy bought back his media brand from Penn for $1, following Penn's acquisition of the remaining stake in Barstool Sports for over $500 million. Snowden sees this as a win for all parties involved.

Portfolio Pulse from Ramakrishnan M

August 10, 2023 | 5:51 am

ACRHF

CGC

Acreage Holdings reported Q2 2023 financial results with consolidated revenue of $58.1 million, a 3.8% increase compared to Q1 2023. The company achieved record revenue in New Jersey and Connecticut with YoY increases of 35% and 31% respectively. Acreage also expanded its leadership team, streamlined its governance structure, and launched adult-use retail operations in Connecticut. The company is preparing for a strategic arrangement with Canopy Growth Corporation.

Portfolio Pulse from Maureen Meehan

August 09, 2023 | 10:49 pm

FXI

NVDA

China's internet giants have ordered $5 billion worth of chips from Nvidia to power their AI ambitions, according to the Financial Times.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 9:48 pm

DIS

Disney CEO, Iger, announced that the company is considering partnerships for ESPN, but will retain control. This was revealed during a conference call.

Portfolio Pulse from Charles Gross

August 09, 2023 | 8:47 pm

FOX

FOXA

RUM

Fox Corp's Business unit has been selected to broadcast the second debate of the 2024 Republican presidential primary, solidifying its position as the host for the party’s initial two debates. The first debate will take place on Aug. 23 in Milwaukee and will air on Fox News, and will also be exclusively livestreamed on Rumble Inc.

Portfolio Pulse from AJ Fabino

August 09, 2023 | 8:45 pm

XPER

TiVo, a subsidiary of Xperi Inc. (NYSE:XPER), has announced a multi-year, multi-million-unit agreement with Sharp to launch smart TVs powered by TiVo's operating system. The first TVs are expected to ship in 2024 starting in Europe. The partnership aims to simplify the user experience and increase TV demand and viewership.

Portfolio Pulse from Happy Mohamed

August 09, 2023 | 8:40 pm