Streetbeat News

Partnerships

AMD

MSFT

NVDA

TSM

Nvidia Corp's stock is trading higher despite the artificial intelligence boom causing a supply chain crisis for GPUs. Microsoft's OpenAI and other companies have taken steps to counter Nvidia's H100 and A100 enterprise GPU crisis. Nvidia has addressed the packaging problem with Taiwan Semiconductor Manufacturing Company's 3D stacking chip-on-wafer-on-substrate technology and promises a more robust supply in the second half of 2023. This situation might present an opportunity for Advanced Micro Devices' Radeon 7900 XTX cards. Nvidia's data center business is expected to double sales in 2023, adding $15 billion. However, Nvidia is considered a proxy for the bubble in AI stocks and is nearing its peak, according to Morgan Stanley strategist Edward Stanley.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 12:41 pm

DNA

ELAN

TSN

Elanco Animal Health's Q2 adjusted EPS and sales beat estimates, while Tyson Foods' Q3 adjusted EPS and sales missed estimates. Ginkgo Bioworks announced a collaboration with Merck to improve biologic manufacturing.

Portfolio Pulse from ryanfaloona@benzinga.com

August 07, 2023 | 12:41 pm

MNTK

Montauk Renewables has signed a letter of intent with European Energy to provide CO2 for e-Methanol production. The delivery period is set to begin in 2026 and is expected to last for 15 years.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:40 pm

FOXO

AI-driven biotechnology company GERO and epigenetic biomarker discovery leader FOXO Technologies Inc. (NYSEAM:FOXO) have begun discussions to form a strategic collaboration. The partnership aims to develop an AI-driven personalized wellness and longevity recommendation engine based on proprietary epigenetic data.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:38 pm

PATH

UiPath (NYSE:PATH) has announced its latest AI updates with 'Project Wingman', which allows customers to create powerful automations from simple natural language prompts. The project is now available in private preview for select customers. UiPath will demonstrate its AI capabilities at the Ai4 2023 Conference in Las Vegas. The company's platform combines Specialized AI solutions with the intelligence of Generative AI, aiming to enhance automation creation for developers and make the platform more accessible to those without programming experience.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:35 pm

BABA

META

Alibaba's stock is trading higher following the launch of its open-source large language models, intensifying competition with Meta Platforms. The market is gauging the impact of growth-boosting measures on China's economy. Ant Group, an affiliate of Alibaba, is preparing to offload a chunk of its Paytm shares amid escalating geopolitical tensions between India and China. Paytm founder Vijay Shekhar Sharma will acquire a 10.3% stake from Ant Group, making him the company's biggest shareholder.

Portfolio Pulse from Anusuya Lahiri

August 07, 2023 | 12:29 pm

XSHLF

XS Financial Inc. has provided $7.6 million in CAPEX and equipment financing to PharmaCann Inc. This new lease will support PharmaCann's growth plans in its eight-state footprint. The deal is a testament to XS Financial's commitment to the cannabis industry and its dedication to supporting top-tier operators.

Portfolio Pulse from Vuk Zdinjak

August 07, 2023 | 12:17 pm

BIMI

BIMI International Medical Inc. (NASDAQ:BIMI) has announced a strategic partnership between its subsidiary, Phenix Bio Inc., and China Duty Free Group (CDFG). The agreement, effective from August 1, 2023, allows CDFG to distribute Phenix's healthcare products across its retail stores for a year. The partnership aims to improve the accessibility of dietary supplements to China's growing population and expand BIMI and Phenix's footprint in the Asian market.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:09 pm

NEPT

Neptune Wellness Solutions Inc. has announced the second phase of its review process, which will consider all available alternatives, including the monetization of assets, partnerships, and/or acquisition of the remaining parts of Sprout Organics through an equity/debt transaction.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:04 pm

KULR

KULR Technology Group has partnered with a leading provider of drone-powered package delivery services to develop high-capacity lithium battery packs. The partnership aims to enhance the safety and efficiency of drone deliveries.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:03 pm