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AMZN

VCR

XLY

Amazon.com, Inc. (NASDAQ:AMZN) is expanding its AWS free credits program to include models from Anthropic, Meta, Mistral AI, and Cohere, aiming to boost its AI platform, Bedrock's market share. The company has invested $4 billion in Anthropic and offered over $6 billion in credits to startups over the past decade. In partnership with Y Combinator, Amazon is offering $500,000 in credits for AI models and chips. Competitors like Microsoft Azure and Google Cloud are also offering credits for AI models. The FTC has launched an inquiry into generative AI investments due to competitive concerns. Investors can gain exposure to Amazon through ETFs like SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR). AMZN shares are currently down 1.03% at $179.11.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 1:33 pm

CXAI

GOOG

GOOGL

CXApp Inc (NASDAQ:CXAI) shares surged 151% on Monday following the announcement of a strategic partnership and development agreements with Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud for the launch of its CXAI Platform. The partnership includes end-to-end security, analytics, monitoring, and SaaS performance enhancements for CXApp clients. Google will also support CXApp's Work SuperApp, generative AI applications, and experiential analytics through its technologies, including the Vertex AI platform. Despite the initial rally, CXAI shares were down 20.6% at $4.88 at the time of publication.

Portfolio Pulse from Adam Eckert

April 02, 2024 | 1:29 pm

FET

NEAR

RNDR

TAO

Eric Wall, co-founder of Taproot Wizards, criticized Bittensor (CRYPTO: TAO) on X, calling it a 'pointless exercise in decentralization' and questioning its utility and tokenomics. Despite Wall's critique, Bittensor has seen an 800% increase year-over-year but fell 15% in the past 30 days. It recently rose 4.5% in 24 hours. The debate highlights differing opinions on the utility of AI coins, with some agreeing with Wall and others defending Bittensor. Other AI coins like Render, Fetch, and Near Protocol are tipped for growth in 2024.

Portfolio Pulse from Ivan Crnogatić

April 02, 2024 | 1:29 pm

AAPL

TSLA

UBS

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a market correction, with analysts predicting all-time highs for Bitcoin as its halving event nears. The US and UK are collaborating to regulate and address risks associated with emerging artificial intelligence technologies. In the US, market sentiment is cautious with Wall Street poised for a weak open, influenced by Fed speeches and key data. Internationally, the Russia-Ukraine conflict may reach a stalemate, and China is seen as a preferred ally in Southeast Asia. In tech, Apple unveils a new AI model, and Tesla's China sales offer hope ahead of its Q1 deliveries report. UBS announces a $2B buyback plan amid its Credit Suisse takeover.

Portfolio Pulse from Akanksha Bakshi

April 02, 2024 | 1:28 pm

GEV

NETZ

PPA

GE Aerospace (NYSE:GE) has officially launched as an independent public company following the spin-off of GE Vernova (NYSE:GEV). Both companies will ring the NYSE opening bell on April 2, 2024. GE Aerospace, with a significant global presence in commercial and military engines, expects a $10 billion operating profit by 2028 and plans to return 70%-75% of available funds to shareholders this year. GE Vernova, focusing on power generation, aims for mid-single digit organic revenue growth and a 10% adjusted EBITDA margin by 2028. TCW Transform Systems ETF (BATS:NETZ) and Invesco Aerospace & Defense ETF (NYSE:PPA) offer exposure to these stocks.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 1:27 pm

TSLA

Tesla's stock is trading lower following the announcement of Q1 production and delivery results. The company attributed the decline in volumes to several factors including the production ramp of the updated Model 3, the Red Sea conflict, and an arson attack at Gigafactory Berlin.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:24 pm

AVCNF

Avicanna Inc. (AVCNF) reported a 314% year-over-year increase in total revenue for 2023, reaching $12.3 million. The growth is attributed to the acquisition of Medical Cannabis by Shoppers and the launch of MyMedi.ca. Gross profit saw a nearly 500% increase to $6.64 million. Despite the revenue and profit growth, the company reported a net loss of $8.7 million, a 40% improvement from the previous year. Shares of Avicanna traded 2.1450% higher at $0.4 per share after the market close on Monday.

Portfolio Pulse from Jelena Martinovic

April 02, 2024 | 1:18 pm

KGRN

NIO

PGJ

XPEV

Shares of Chinese EV manufacturers XPeng Inc. (XPEV) and NIO Inc. (NIO) are trading lower in the premarket session on Tuesday. XPeng reported a 99% monthly and 29% yearly increase in Smart EV deliveries for March 2024, with a total of 21,821 vehicles delivered in Q1 2024. NIO's March deliveries rose 14.3% year-over-year, with a total of 11,866 vehicles. Despite these positive delivery reports, XPEV and NIO stocks have lost over 29% and 52% in the past year, respectively. Investors can also gain exposure to NIO through ETFs like KraneShares MSCI China Clean Technology Index ETF (KGRN) and Invesco Golden Dragon China ETF (PGJ).

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 1:18 pm

RIVN

TSLA

Tesla, Inc. (TSLA) reported a year-over-year decline in Q1 deliveries and production, missing analyst estimates and sending its stock lower in premarket trading. Despite this, Tesla reclaimed its position as the world's leading battery electric vehicle manufacturer by volume. Rival Rivian Automotive, Inc. (RIVN) also reported its Q1 deliveries. Tesla's price cuts failed to significantly boost sales, and the company faces headwinds in Europe and potential supply disruptions in the U.S. Tesla's Q1 earnings report is anticipated on April 23, with investors looking for updates on a sub-$30,000 electric vehicle and the Full Self-Driving software rollout.

Portfolio Pulse from Shanthi Rexaline

April 02, 2024 | 1:18 pm

SDA

SunCar Technology Group has announced an exclusive partnership with China CITIC Bank International Limited to offer airport concierge car services to the bank's private banking clients. This move is aimed at enhancing the travel experience of CITIC's high-net-worth individuals by providing them with personalized and convenient transportation options.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:17 pm