Streetbeat News

Partnerships

GOOGL

MSFT

OpenAI is set to announce a new AI-powered search product on Monday, aiming to compete with Google's search engine. This move intensifies the rivalry between OpenAI, supported by Microsoft, and Alphabet's Google. The product, an extension of ChatGPT, will allow the chatbot to fetch real-time information from the web with citations. The announcement is strategically planned before Google's I/O conference. Meanwhile, startup Perplexity, with a former OpenAI researcher and 10 million monthly users, is also mentioned as a competitor in the AI search space.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:40 pm

LIDR

AEye, Inc. (LIDR) shares surged following the announcement of a partnership with LITEON Technology Corporation, signaling a positive development for the company.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:13 pm

LIDR

AEye, Inc. (NASDAQ:LIDR) and LITEON Technology Corporation have announced a partnership to supply AEye's 4Sight-based lidar products to automotive OEMs for use in Advanced Driver Assistance Systems (ADAS). This collaboration aims to leverage AEye's capital light business model and LITEON's industrialization capability to deliver competitive long-range lidar solutions.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 10:12 pm

META

NTDOY

Nintendo ADR (OTC:NTDOY) announced it will end X/Twitter integration on the Switch by June 10, 2024, following similar moves by PlayStation and Xbox. The decision, influenced by X's increased API charges, affects sharing capabilities to X but retains Meta Platforms Inc.'s (NASDAQ:META) Facebook integration. X, despite the change, commits to enhancing the gaming community's experience and continues its partnership with Nintendo.

Portfolio Pulse from Franca Quarneti

May 09, 2024 | 9:59 pm

EVC

Entravision has appointed Mark Boelke as its new CFO. Boelke, with over 30 years of experience in business and legal fields, particularly in media, advertising, and technology, has been with Entravision since 2005, serving as General Counsel and Secretary since 2006. His expertise includes mergers and acquisitions, strategic partnerships, and corporate finance among others.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:47 pm

NVDA

RXRX

Recursion Pharmaceuticals Inc (RXRX) shares rose in after-hours trading following Q1 earnings that surpassed analyst expectations. The company reported $13.491 million in revenue, beating estimates of $12.65 million, and a loss of 39 cents per share, better than the expected 42 cents loss. Recursion highlighted its partnership with Nvidia (NVDA) in expanding its supercomputer capabilities, specifically mentioning the near completion of BioHive-2, a powerful supercomputer designed with Nvidia's help. Nvidia has also been identified as a significant investor in Recursion.

Portfolio Pulse from Adam Eckert

May 09, 2024 | 9:25 pm

KNTK

Kinetik Holdings Inc. (KNTK) has announced a series of strategic transactions including the acquisition of Durango Permian LLC for $765 million in cash and equity, a new 15-year service agreement in Eddy County, New Mexico, and the sale of its 16% stake in the Gulf Coast Express pipeline (GCX) for $540 million. These moves aim to expand Kinetik's operations in the Permian Basin, doubling its pipeline mileage and processing capacity, and adding over 60 new customers. The transactions are expected to be over 10% accretive to Kinetik's free cash flow per share starting in the second half of 2025.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:22 pm

CMPO

FISV

HOOD

CompoSecure, Inc. (CMPO) has partnered with Robinhood Markets, Inc. (HOOD) and Fiserv (FISV) to launch the Robinhood Gold Card, a new payment card program. This partnership aims to introduce a unique product in the payment card market, combining innovative design with top industry rewards.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:14 pm

BE

INTC

Bloom Energy Corporation (NYSE:BE) reported Q1 financial results with losses of 17 cents per share, missing analyst estimates, and quarterly sales of $235.3 million, also below expectations. The company announced an expanded agreement with Intel Corporation (NASDAQ:INTC) for additional fuel cell-based Energy Server installations at Intel's Santa Clara data center. Despite the financial miss, Bloom reaffirmed its 2024 revenue outlook of $1.4 billion to $1.6 billion. Bloom Energy shares rose 5.88% in after-hours trading.

Portfolio Pulse from Erica Kollmann

May 09, 2024 | 9:11 pm

ARLO

Arlo Technologies, Inc. (NYSE:ARLO) has renewed its strategic partnership with Verisure to provide SaaS platform services, AI analytics, and innovative products until 2029. This agreement supports Verisure's expanding business in Europe and Latin America, serving over 5 million customers.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:50 pm