Streetbeat News

Partnerships

RXRX

Recursion has launched Valence Labs at the International Conference on Machine Learning, committing to open science with $1M in academic scholarships. The initiative aims to foster collaboration and innovation in the field of machine learning.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 5:23 am

BLK

Jio Financial Services, part of Mukesh Ambani’s Reliance Group, is partnering with US firm BlackRock Inc (NYSE:BLK) to launch an asset management venture in India. Both companies plan to invest $150 million each in the new venture. The joint venture will focus on providing digital-first services, pending regulatory approval. This marks BlackRock’s second foray into India’s asset management sector, after exiting a joint venture with DSP Group in 2018.

Portfolio Pulse from Shomik Sen Bhattacharjee

July 27, 2023 | 5:12 am

GOOG

GOOGL

UBER

Alphabet Inc's autonomous driving technology unit, Waymo, announced it will focus all its efforts and investment on ride-hailing, halting other development plans. The company sees a substantial commercial opportunity in ride-hailing and will push back efforts on trucking. Waymo will continue the technical development of an autonomous truck platform with its partner Daimler Truck North America. The company also has a multi-year partnership with Uber Technologies, enabling users to hail an autonomous Waymo ride via the Uber app in Phoenix.

Portfolio Pulse from Anan Ashraf

July 27, 2023 | 4:27 am

AMZN

GOOG

GOOGL

META

MSFT

Meta Platforms Inc. (META) and Microsoft Corporation (MSFT) have collaborated to introduce Llama-2, an advanced AI technology. The partnership was driven by Meta's lack of a public-cloud offering, allowing them to leverage Microsoft's cloud capabilities. Llama-2 is open-source, but large companies with public-cloud offerings, such as Amazon.com, Inc. (AMZN), and Alphabet Inc.’s Google (GOOG, GOOGL), may need to make revenue-sharing arrangements for commercial usage.

Portfolio Pulse from Ananya Gairola

July 27, 2023 | 4:18 am

Boeing Co (NYSE:BA) is facing a loss of $257 million due to the delay in Starliner's launch, bringing the total overrun costs to about $1.5 billion. SpaceX CEO Elon Musk has offered support to Boeing, stating that SpaceX has provided its knowledge of crewed parachute systems to Boeing. Meanwhile, SpaceX is about to complete all its originally contracted missions and has been awarded additional flights by NASA.

Portfolio Pulse from Anan Ashraf

July 27, 2023 | 2:54 am

BWXT

LMT

TSLA

Lockheed Martin Corp (LMT) has been awarded a contract by the U.S. Department of Defense to develop a nuclear spaceship for manned missions to Mars. The project, in collaboration with NASA and the Defense Advanced Research Projects Agency (DARPA), aims to demonstrate a nuclear thermal rocket in orbit. BWX Technologies Inc (BWXT) will develop and produce the fuel for the mission. Tesla Inc's (TSLA) CEO Elon Musk has also shown interest in the technology.

Portfolio Pulse from Natan Ponieman

July 26, 2023 | 11:29 pm

DIS

NFLX

Epic Games' Fortnite has introduced a collaboration with the animated show 'Futurama', allowing gamers to play as characters Fry, Bender and Leela. The crossover comes as the show returns with a new season after a 10-year absence. Epic Games has previously collaborated with Netflix Inc.'s 'Stranger Things' and Walt Disney Co.'s Star Wars franchise.

Portfolio Pulse from Franca Quarneti

July 26, 2023 | 10:38 pm

ACN

NOW

NVDA

ServiceNow, NVIDIA, and Accenture have teamed up to accelerate the adoption of generative AI for enterprises. The collaboration aims to help customers create AI-based initiatives to transform their business operations.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 9:26 pm

TER

TRSSF

NBA Hall of Famer Chris Webber's $175 million cannabis development in Detroit has been stalled for nearly two years due to challenging market conditions, including a 56% plunge in marijuana prices. The project, under the banner of Players Only, was planned to include an industry training complex, a cultivation site, a consumption lounge, and a dispensary. Webber is planning to revise the development plans, likely resulting in a scaled-down project. Webber's business partnership with Gage Cannabis, a subsidiary of TerrAscend Corp., operates Cookies-branded stores in the state.

Portfolio Pulse from Joana Scopel

July 26, 2023 | 9:04 pm

FLR

Fluor Corporation (FLR) has been awarded an engineering, procurement, and construction contract for a Mitsubishi Chemical Group project in the UK. The financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 8:57 pm