Streetbeat News

Partnerships

BWA

ON

ON Semiconductor Corp (ON) has signed a deal with BorgWarner Inc (BWA) to expand their strategic collaboration for silicon carbide (SiC) for a total lifetime deal value of over $1 billion. BWA plans to integrate ON's EliteSiC 1200 V and 750 V power devices into their VIPER power modules. ON will offer high-performance EliteSiC technology supporting the EV traction market and successful adoption in high-volume automotive applications.

Portfolio Pulse from Lekha Gupta

July 18, 2023 | 2:49 pm

CGAU

RIO

USGDF

American Pacific Mining Corp (OTC:USGDF) is capitalizing on the energy transition with its portfolio of high-grade precious and base metal projects backed by Rio Tinto (NYSE:RIO), Centerra Gold, Inc (NYSE:CGAU) and Dowa Metals & Mining. The company's CEO, Warwick Smith, emphasized the importance of copper in the EV revolution and clean energy production. American Pacific owns nine projects in the U.S., containing copper, gold, silver, and zinc assets. The company is backed by mining majors, which allows it to fund its drilling projects and spend more on exploration than most other juniors.

Portfolio Pulse from Melanie Schaffer

July 18, 2023 | 2:47 pm

INOD

Innodata Inc (NASDAQ:INOD) has closed a deal with a new customer, one of the five largest technology companies, for training the customer's AI large language models. The customer has budgeted up to $8 million for the remaining months of 2023. Innodata anticipates reaching an annualized run rate of $15 million or more with the customer by the end of 2023 and expects further expansion in 2024. Following the news, INOD shares rose by 16.8%.

Portfolio Pulse from Akanksha Bakshi

July 18, 2023 | 2:31 pm

BTCUSD

COIN

CUBI

FTTUSD

USDCUSD

Customers Bancorp Inc. has become a significant ally for the cryptocurrency industry, partnering with numerous digital asset firms. The bank has become one of the few remaining facilitators of dollar transactions for crypto businesses. Despite being the 81st-largest U.S. bank by assets, Customers Bank now finds itself at the forefront of an industry that is under regulatory scrutiny. The bank's appeal to crypto businesses increased when it avoided the industry's biggest crisis of the past year: the collapse of Sam Bankman-Fried’s FTX exchange.

Portfolio Pulse from Murtuza Merchant

July 18, 2023 | 2:28 pm

CMG

Chipotle Mexican Grill (NYSE:CMG) has signed its first-ever development agreement to expand in the Middle East, in partnership with Alshaya Group. The company plans to open new restaurants in Dubai and Kuwait early next year, with further expansion across the region. Chipotle currently operates over 3,200 restaurants in North America and plans to open more than 255 new restaurants this year.

Portfolio Pulse from Shivani Kumaresan

July 18, 2023 | 2:14 pm

WMG

Warner Music Group Corp has entered into a licensing deal with TikTok for music. The deal will also involve the joint development of additional and alternative economic models.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 2:04 pm

WMG

Warner Music Group and TikTok have announced an expanded agreement that will increase the level of partnership, collaboration, and innovation between the two companies. The deal is the first of its kind.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 2:03 pm

NSANY

RNLSY

Renault SA is reportedly trying to loosen its cooperation pact with Nissan Motor Co. with a deal to revamp their long-standing alliance. The companies are eyeing a 'very small and reduced' cooperation between them. Nissan reportedly planned an investment worth 100 billion yen ($725 million) in Renault's new electric vehicle unit, Ampere.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 1:52 pm

HPCO

Hempacco Co, Inc. (NASDAQ:HPCO) is set to launch its first product from the Snoop Dogg line, 'Dogg lbs' - hemp-derived CBD and Delta-9 infused gummies, at the Champs Summer Trade Show in Las Vegas. The gummies will be available in three flavors and two presentations. Earlier this year, Hempacco partnered with Snoop Dogg to develop hemp-derived products.

Portfolio Pulse from Vuk Zdinjak

July 18, 2023 | 1:33 pm

MULN

Bollinger Motors has started the pilot build of its B4 all-electric Class 4 chassis cabs in partnership with Roush Industries. The first five completed cabs are expected to roll out this summer, with another 15+ vehicles by the end of Q3 2023. Bollinger Motors is majority owned by Mullen Automotive, Inc. (NASDAQ:MULN). The Bollinger B4 will be eligible for a federal purchasing incentive of 30% of the cost of the vehicle, up to a total $40,000, through the Inflation Reduction Act of 2022. Deliveries are expected to begin in July 2024.

Portfolio Pulse from Happy Mohamed

July 18, 2023 | 1:33 pm