Streetbeat News

Partnerships

GNZUF

TM

Toyota Motor Corp (TM) has formed a joint venture with autonomous driving tech company, Pony.ai, and Guangzhou Automobile Group Co Ltd (GNZUF) to create a self-driving taxi business in China. The venture will be established this year with an investment of over 1 billion yuan (~$139 million). The companies plan to launch a Robotaxi vehicle based on Toyota's pure EV brand. In 2020, Toyota invested $400 million in Pony.ai to boost collaboration. Toyota's Q1 FY24 sales revenue was ¥10.5 trillion ($76.98 billion), higher than ¥8.5 trillion ($65.56 billion) a year ago.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 3:03 pm

CAT

PLTR

Palantir Technologies Inc (PLTR) and WesTrac Pty Ltd have renewed their partnership for five years. WesTrac, a major Caterpillar Inc (CAT) dealer, will use Palantir's Foundry operating system to enhance ROI and enable data-driven decisions. The financial terms of the deal were not disclosed.

Portfolio Pulse from Shivani Kumaresan

August 04, 2023 | 3:03 pm

AHI

Advanced Health Intelligence Ltd (ASX: AHI) (NASDAQ:AHI) has signed an exclusive, perpetual license agreement with Shanghai-based Changlin Network Technology Ltd. The deal includes an upfront payment of $10 million to AHI, an annual license fee of $5 million, and a 25% revenue share of gross sales. Changlin, which plans to go public in 2024, will initially issue a 50% holding to AHI, expected to be restructured to 25% but not less than 20% at the IPO. The deal is contingent on Changlin securing financing and SAFE approval in China.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:55 pm

AHI

FXI

Advanced Health Intelligence Ltd (AHI) has signed an exclusive, perpetual license agreement with Shanghai-based Changlin Network Technology Ltd. The deal includes an upfront payment of $10 million to AHI, an annual license fee of $5 million, and a 25% revenue share of gross sales. Changlin, planning an IPO in 2024, will initially issue a 50% holding to AHI, which will later be reduced to 25-20%. The deal is contingent on Changlin securing financing and SAFE approval in China.

Portfolio Pulse from Charles Gross

August 04, 2023 | 2:54 pm

TSLA

Tesla Inc (NASDAQ:TSLA) executives reportedly held a discreet meeting with India's commerce minister, Piyush Goyal, to discuss the possibility of setting up a manufacturing plant in India. This follows Tesla's previous expressions of interest in building a factory for a low-cost electric vehicle (EV) priced at $24,000 for the domestic Indian market and potential export opportunities. Tesla is looking to expand into India as it seeks to branch out beyond China, one of the company's biggest markets.

Portfolio Pulse from Arpit Nayak

August 04, 2023 | 2:52 pm

BTCUSD

DOGEUSD

Elon Musk's super app, X, formerly known as Twitter, is reportedly considering adding a trading hub for cryptocurrencies and other assets. The company has allegedly sent requests to financial-data providers for proposals on financial content and real-time stock data. However, Musk stated that no work is being done on this to his knowledge. Earlier this year, eToro announced plans to offer trading services to Twitter users through a partnership.

Portfolio Pulse from Mehab Qureshi

August 04, 2023 | 2:50 pm

CAT

PLTR

Palantir Technologies Inc. (PLTR) and WesTrac Pty Ltd, a Caterpillar dealer, have announced a multi-year expansion of their partnership to deploy Palantir's Foundry across WesTrac's core operations. The expanded partnership will focus on WesTrac's Component Rebuild Centres and Inventory Management teams.

Portfolio Pulse from Charles Gross

August 04, 2023 | 2:46 pm

EQRX

GTHX

EQRx has provided a written notice to G1 Therapeutics, terminating the exclusive license agreement dated July 22, 2020. The termination will be effective as per the terms of the agreement.

Portfolio Pulse from Charles Gross

August 04, 2023 | 2:44 pm

LIAN

LianBio (NASDAQ:LIAN) has announced the first patient has been dosed in its Phase 1 clinical trial of BBP-398, an investigational SHP2 inhibitor, in combination with AstraZeneca's osimertinib, for the treatment of patients with non-small cell lung cancer (NSCLC) with EGFR mutations. The trial is designed to evaluate the safety, tolerability, pharmacokinetics, and anti-tumor activity of BBP-398 in combination with osimertinib. BBP-398 is being developed for difficult-to-treat cancers and was founded through a collaboration between BridgeBio and The University of Texas MD Anderson Cancer Center's Therapeutics Discovery division.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:39 pm

NUGL

SILFF

Psychedelics and wellness company Silo Wellness (OTCQB:SILFF) and Jamaican NUGL Inc. (OTC:NUGL) have announced a strategic partnership to offer psychedelic wellness experiences and retreats in Jamaica. As part of the partnership, Silo Wellness has acquired 25,081,369 NUGL shares and issued 15,293,640 of its Class A shares. The shares cannot be transferred or sold for a minimum of 12 months. The partnership will combine Kaya's retail locations and wellness center with Silo's expertise in managing psilocybin wellness retreats.

Portfolio Pulse from Lara Goldstein

August 04, 2023 | 2:26 pm