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This week in AI, Google faced criticism over its Gemini AI's inaccuracies, Apple shifted focus from its EV project to generative AI, and Elon Musk sued OpenAI and Microsoft. Google's CEO addressed the Gemini AI issues, Apple informed employees about the EV project's halt, and Musk's legal actions highlight concerns over AI's direction and Microsoft's practices. Additionally, c3.ai, Inc. reported strong Q4 results, indicating a growing AI revolution.

Portfolio Pulse from Benzinga Neuro

March 03, 2024 | 4:50 am

GOOG

Alphabet Inc's Google is facing calls for CEO Sundar Pichai to step down amid concerns over its pace of innovation, especially in AI. Analysts like Ben Thompson and Mark Shmulik suggest a leadership change might be necessary for Google to navigate the AI era effectively. Despite Pichai's success in growing Google's market cap significantly, recent missteps and the tech industry's rapid shift towards AI have led to debates about the company's future direction and leadership. Gartner predicts a 25% drop in traditional search volume by 2026 due to AI, highlighting the urgency for Google to adapt.

Portfolio Pulse from Bibhu Pattnaik

March 02, 2024 | 11:56 pm

BTCUSD

DOGEUSD

Billy Markus, co-founder of Dogecoin, made a controversial statement on X as Dogecoin's price surged 18% overnight. The comment, reflecting on Dogecoin's original intent as a joke, coincided with a broader cryptocurrency market rally, notably Bitcoin's 21.74% increase following excitement over spot Bitcoin ETFs led by BlackRock.

Portfolio Pulse from Bibhu Pattnaik

March 02, 2024 | 9:44 pm

CVX

Chevron Corporation (NYSE:CVX) has paused biodiesel production at two facilities in the U.S. Midwest due to unfavorable market conditions, despite acquiring Renewable Energy Group in 2022 for $3.15 billion to boost renewable fuel output. Biodiesel prices have fallen, and renewable credits' value has decreased. Concurrently, Chevron unveiled a green hydrogen initiative in California's Central Valley, aiming to produce low carbon energy using solar power and non-potable water.

Portfolio Pulse from Nabaparna Bhattacharya

March 02, 2024 | 7:06 pm

BTCUSD

SHIBUSD

Shiba Inu (SHIB) has seen a significant surge, increasing by 68.5% to $0.00002196, with a weekly gain of 122.8%. This follows Bitcoin's (BTC) rise above $64,000. SHIB's rally, marked by an 8-day streak of gains and a 407% increase in trading volume, is attributed to a partnership with Zama for a privacy-centric network and various community developments. Notably, a whale transaction and a 3,0187% increase in SHIB's burn rate have also contributed to the bullish sentiment.

Portfolio Pulse from Bibhu Pattnaik

March 02, 2024 | 5:23 pm

AVGO

DELL

META

NVDA

Michael Dell has joined the $100 billion club as Dell Technologies Inc. (NYSE:DELL) shares surged by 32% after strong Q4 earnings, driven by demand for AI-related equipment. Dell's net worth reached $104.3 billion, making him the 12th richest globally. The company's AI servers, like the H100 and MI300X, have been highlighted for their effectiveness. Dell's wealth also benefits from his stake in Broadcom Inc. (NASDAQ:AVGO), valued at over $31 billion, acquired after Broadcom's acquisition of VMWare in 2021.

Portfolio Pulse from Nabaparna Bhattacharya

March 02, 2024 | 5:08 pm

RIVN

TSLA

VWAGY

Rivian Automotive (NASDAQ:RIVN) reported Q4 financial results, highlighting 2023 milestones and a 2024 production goal of 57,000 vehicles. The introduction of leasing for its R1S SUV, which was the fifth bestselling EV in the U.S. for Q4, could significantly boost sales. Electric vehicles' market share of new retail sales in the U.S. reached 8.55% in Q4, with a record 30.7% of new EVs leased in 2023. Rivian's R1S had the lowest leasing percentage among the top five EVs, suggesting room for growth with its new leasing option.

Portfolio Pulse from Chris Katje

March 02, 2024 | 4:24 pm

AAPL

FSR

GOEV

KARS

TSLA

Electric vehicle stocks saw gains, with Tesla closing above $200 for the first time since mid-February. Key events included Tesla's Roadster update and Model Y price cut reversion, Apple shelving its self-driving car project, Fisker seeking partnerships to stay afloat, Biden's administration blocking Chinese EVs due to security risks, and Canoo's shareholder approval for a reverse stock split. The KraneShares Electric Vehicles ETF also saw a weekly increase.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 2:21 pm

AAPL

CVNA

DIS

GOOG

Benzinga's weekly review highlights market movements, with the Nasdaq and S&P 500 seeing gains, while the Dow slightly declined. Bitcoin surpassed $60,000, anticipating the halving event. Bullish views include Ackman's confidence in Alphabet for its AI and advertising, optimistic forecasts for Dogecoin and Shiba Inu, and predictions of Bitcoin reaching $200,000. Bearish perspectives involve Goldman Sachs removing Apple from its Conviction List, criticism of Disney by Gov. DeSantis, and a short report on Carvana questioning its valuation.

Portfolio Pulse from Michael Cohen

March 02, 2024 | 2:02 pm

DELL

Jim Cramer praised Dell Technologies, Inc. (NYSE:DELL) CEO Michael Dell for advancing AI, following impressive Q4 results. Dell's earnings and sales exceeded expectations, with significant growth in AI-optimized servers. The company's stock rose 31.24% after the announcement and Cramer's comments.

Portfolio Pulse from Ananya Gairola

March 02, 2024 | 11:36 am