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HNHPF

NVDA

Foxconn Technology Group, known for assembling Apple Inc.'s iPhones, reported a 72% increase in Q1 net profit despite a 9% revenue drop due to weaker consumer electronics demand. The profit surge was attributed to a low base last year and strong growth in the cloud and networking segment. Foxconn is diversifying its business, including ventures into electric vehicles and AI, and expanding production outside China. The company anticipates revenue growth in Q2 2024 after reporting its best-ever April revenue.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 8:11 am

AAPL

MSFT

OpenAI launched the ChatGPT app for Apple's macOS, bypassing Windows 11 from its top investor, Microsoft, despite Microsoft's $13B investment in OpenAI. The app introduces a new user interface and the GPT-4o model, enhancing user interaction with AI through text and voice. This move has sparked discussions on OpenAI's potential to challenge major tech companies and has been met with skepticism from figures like Elon Musk.

Portfolio Pulse from Rounak Jain

May 14, 2024 | 8:04 am

HLTH

The FDA has issued a warning to Cue Health regarding its Emergency Use Authorized COVID-19 test. The company is reviewing the letter and will respond soon.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:53 am

ARBUSD

ETHUSD

MATICUSD

The Dencun Upgrade for Ethereum has made it inflationary by reducing transaction fees, leading to the highest supply level in over two months. This change could impact Ethereum's value as it diverges from its previously deflationary trend. The upgrade also affects Layer-2 solutions like Arbitrum and Polygon by reducing the Ethereum burned in transactions.

Portfolio Pulse from Aniket Verma

May 14, 2024 | 7:01 am

IPHA

Innate Pharma reported a Q1 revenue of €6.6M, a decrease from €26M YoY. The company highlighted its preclinical data for IPH45 and the progression of SAR443579/IPH6101 to Phase 2. It also announced its participation in the AACR 2024 and ASCO Annual Meeting 2024 with several abstracts. Innate Pharma's cash position was reported at €113.9M, with an anticipated cash runway into the end of 2025.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 6:49 am

NVDA

SSNLF

The global supply of high-performance memory chips is expected to remain tight through 2024 and into 2025 due to surging demand for AI technology. Major manufacturers like SK Hynix and Micron Technology Inc (MU) face shortages, with Samsung Electronics (SSNLF) also in the race, particularly with its advanced 12-layer HBM3E chips. This situation is exacerbated by intense competition and geopolitical factors, including U.S.-China semiconductor spending and discussions on AI risks. NVIDIA Corp (NVDA) is anticipated to benefit from strong demand, impacting pricing power and market dynamics.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 6:45 am

TSLA

Danny Moses, known for his role in the 'Big Short,' predicts Tesla Inc.'s (NASDAQ:TSLA) stock will drop 70% to $50, citing concerns over the company's focus on robotaxis and AI while facing fundamental business challenges. Despite Tesla's efforts in these areas, Moses remains skeptical, especially with the DOJ investigating Tesla's self-driving claims. Meanwhile, Moses praised Wayve, an autonomous driving company, for securing $1 billion in funding.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 6:17 am

AMZN

GOOGL

Anthropic, an AI startup backed by Google and Amazon, has launched its Claude chatbot in Europe, aiming to expand its user base and revenue amidst regulatory challenges. The company, founded by former OpenAI employees, is leveraging its cloud-computing partnerships with Amazon and Google to navigate the EU's stringent data usage regulations. Anthropic's focus on responsible and ethical AI, along with its compliance with the EU's AI Act, positions it as a strong competitor in the AI market against rivals like OpenAI and emerging Chinese AI startups.

Portfolio Pulse from Ananya Gairola

May 14, 2024 | 3:02 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin saw price increases following disclosures of spot Bitcoin ETF investments by major banks and a social media post by Roaring Kitty. Bitcoin's next major resistance level is identified at $66,250, with the overall cryptocurrency market cap rising by 1.42%. Major US stock indices experienced mixed results, with investors looking forward to key inflation data.

Portfolio Pulse from Aniket Verma

May 14, 2024 | 2:15 am

TSLA

Tesla Inc. (NASDAQ:TSLA) faces a challenge with its Full Self-Driving (FSD) technology as only 2% of free trial users subscribe, significantly below the expected rate. Gary Black of Future Fund highlighted the low subscription rate, based on data from Yipit, and suggested Tesla needs to investigate the reasons behind this. The low uptake raises concerns about the market's expectations for Tesla's FSD technology, especially with the latest version, FSD v12.3, and following Tesla's decision to delay FSD deployment on Cybertruck vehicles.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 1:47 am