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BIDU

Baidu Inc's AI chatbot, Ernie Bot, has reached over 200 million users, doubling its user base since December. The chatbot, which was publicly released eight months ago, is now being used 200 million times daily through its API and has attracted 85,000 enterprise clients. Baidu has begun monetizing Ernie Bot, generating significant revenue in the fourth quarter through enhanced ad services and assisting companies in building their models. Despite its success, Ernie Bot faces competition from domestic AI services like Alibaba-backed Moonshot AI's Kimi chatbot. However, Chinese generative AI services, including Ernie Bot, still trail behind Western counterparts like OpenAI's ChatGPT.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 6:31 am

BTCUSD

Crypto.com CEO Kris Marszalek predicts a surge in Bitcoin sales leading up to the 'halving' event around Apr. 20, expected to boost Bitcoin's price over time. Despite potential short-term selling pressure, Marszalek views the event as positive for the market. The introduction of Bitcoin ETFs and endorsements like that from BlackRock Inc have fueled optimism, despite recent price volatility and skepticism among finance professionals. Bitcoin's price has seen a significant year-to-date increase, trading at $62,682 with a recent decline of 1.23%.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 6:12 am

TSLA

Tesla Inc (NASDAQ:TSLA) has halved the price of its 'full self-driving' (FSD) subscription to $99 per month, a move that Gene Munster of Deepwater Asset Management believes signals the end of manual driving. This price reduction is part of Tesla's strategy to make its self-driving technology more accessible, amidst a challenging period for the company, including a 10% workforce reduction and a 20% drop in deliveries. Nvidia's Senior Lead of Robotics praised Tesla's FSD feature, while Tesla CEO Elon Musk continues to push boundaries in AI with his venture, xAI.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 3:20 am

TSLA

Tesla, Inc. (NASDAQ: TSLA) has reportedly put on hold the development of its proposed $25,000 electric vehicle, known as Model 2 or codenamed NV9, according to Electrek. This decision comes amid a round of massive layoffs, including high-profile executives, and a shift in focus towards the self-driving project. CEO Elon Musk had previously emphasized the importance of the low-cost EV and its production at Giga Texas and Giga Mexico, aiming for a second-half of 2025 start. However, the project's defunding and the layoffs of team members involved raise concerns about Tesla's future growth, particularly as the Model 2 vehicle and its sub-$30,000 price point were seen as crucial for driving mass demand globally.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 2:45 am

ARKB

BITB

BRRR

DEFI

GBTC

Cryptocurrency analyst Willy Woo predicts Bitcoin ETFs could drive Bitcoin's price to surpass gold's market cap, with price targets of $91k in bear and $650k in bull markets. The SEC approved Bitcoin ETFs from Grayscale, Bitwise, Hashdex, Valkyrie, and ARK 21Shares. Bitcoin's market cap could rise to $12.8 trillion, exceeding gold's $16.1 trillion cap. Bitcoin ETFs saw $111 billion traded in March, despite a recent 8% price drop and $83M net outflows in spot Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 2:38 am

BLK

IBIT

Despite BlackRock Inc.'s acceptance of Bitcoin, skepticism remains among finance professionals. Portfolio manager Mike Green criticizes Bitcoin as an 'extractive bubble,' yet Simplify Asset Management launched two Bitcoin-exposed funds. Companies like Vanguard and State Street have not offered Bitcoin ETFs, and Goldman Sachs views Bitcoin as unsuitable for investment portfolios. The Miami event highlighted ongoing doubts about Bitcoin's viability as a reserve currency, despite its recent price surge.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 1:49 am

AMZN

MSFT

The release of Amazon.com Inc's Prime Video Fallout TV series has led to a significant increase in player numbers for Microsoft Corp.'s Bethesda's Fallout video game franchise, with Fallout 76 reaching a new peak of 39,455 concurrent players. The resurgence in interest has affected all titles in the series, with Fallout 4 topping Steam revenue charts. Bethesda is responding with promotions and a next-gen update for Fallout 4, while also confirming Fallout 5 in its long-term plans.

Portfolio Pulse from Franca Quarneti

April 15, 2024 | 9:54 pm

BTCUSD

MANU

Gemini founders Cameron and Tyler Winklevoss invested $4.5 million in Bitcoin into Real Bedford FC, aiming to propel the team to the English Premier League. They join Bitcoin podcaster Peter McCormack as co-owners, sharing a conviction in Bitcoin's potential to support the club's ambitions. Manchester United (NYSE:MANU) was also mentioned as an example of a valuable team in the Premier League that recently secured investment from billionaire Jim Ratcliffe.

Portfolio Pulse from Chris Katje

April 15, 2024 | 9:48 pm

IONR

IPX

PLL

Piedmont Lithium received a mining permit for its Carolina Lithium project, expected to boost the U.S. EV supply chain. U.S. Steel faces opposition from senators and a national security review against its acquisition by Nippon Steel. Ioneer progresses on its Rhyolite Ridge project with an upcoming environmental review, aiming for production in 2027. IperionX signs a deal to supply titanium products, enhancing the U.S. titanium supply chain.

Portfolio Pulse from austin@walkonholdings.com

April 15, 2024 | 9:15 pm

CMG

DIN

EAT

JACK

MCD

PZZA

QSR

SBUX

WEN

YUM

California's new law mandates a $20 minimum wage for fast-food employees at chains with at least 60 locations nationwide, affecting major companies like McDonald's, Starbucks, and Yum! Brands. Since the law's implementation on April 1, many of these companies have seen their stock values drop. Some are considering cutting hours and raising prices, while others explore automation to offset increased labor costs. Casual dining restaurants could benefit from this shift if they manage to maintain their pricing.

Portfolio Pulse from Natan Ponieman

April 15, 2024 | 9:12 pm