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NKLA

Nikola Corp (NASDAQ:NKLA) aims to deliver at least 100 battery-electric trucks in 2024 after addressing fire issues that led to recalls last year. The company plans to restart deliveries in late Q3 or early Q4 2024, with recalled vehicles returned to customers by end of Q2 or early Q3 after receiving new battery packs. The upgraded trucks will feature improved battery packs and other enhancements. Nikola produced 38 trucks last year, down from 258 in 2022, with a gross loss of $214.1 million, attributed to the recall costs.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 10:36 am

AAPL

Apple Inc. is reportedly focusing on developing a foldable iPad or MacBook, expected to launch by 2025 or later, according to a supply chain report by Digitimes. This development suggests Apple's continued interest in foldable technology, diverging from the previously rumored foldable iPhone. The report indicates that design elements for the foldable device are nearing completion, with plans for mass production already underway. However, Digitimes' track record for accurate predictions on Apple's plans is questionable.

Portfolio Pulse from Ananya Gairola

February 23, 2024 | 10:16 am

ADTN

Adtran announced that Vodafone Turkey has deployed its Optical Cesium Solution in its national timing network. This deployment is aimed at enhancing the network's performance and reliability, marking a significant step in Vodafone Turkey's efforts to improve its infrastructure.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 10:06 am

NVDA

Gene Munster of Deepwater Asset Management predicts Nvidia's growth will remain high for an extended period due to AI adoption, despite the company's boom-and-bust nature. He supports the $1,000+ price targets for Nvidia, expecting the stock to surpass this within a year or two. However, he anticipates an 'epic bust' in 3-5 years, differing from analysts who foresee a correction in 2026. Nvidia's recent performance, with a 16.40% increase to $785.38, reflects strong momentum.

Portfolio Pulse from Shanthi Rexaline

February 23, 2024 | 9:42 am

GOOG

GOOGL

Alphabet Inc's CEO Sundar Pichai emphasized the importance of AI in enhancing cybersecurity at the Munich Security Conference. He highlighted AI's role in improving detection and response to cyber threats. Google introduced a new initiative offering AI tools for online security, including a tool named Magika for malware detection. Major companies, including Adobe, Amazon, Google, IBM, Meta, Microsoft, OpenAI, TikTok, and X (formerly Twitter), signed a pact to prevent AI misuse in elections. Google's focus on AI development is also shown through a $60 million deal with Reddit to train AI models.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 9:17 am

GM

General Motors Co's (NYSE:GM) self-driving car unit, Cruise, is set to resume robotaxi testing in Texas with safety drivers in the coming weeks, following a suspension due to a pedestrian accident. Despite a reported operating loss of $3.48 billion in 2023, GM remains committed to Cruise, planning to reduce spending but continue investing in self-driving technology.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 9:02 am

GOOG

GOOGL

Elon Musk hinted at launching 'XMail' as an alternative to Alphabet Inc.'s Gmail, amidst rumors and misinformation about Gmail being phased out. Musk's announcement follows Gmail's assertion of its permanence and comes amid Google's history of discontinuing products. Musk aims to transform the X social media platform into an 'everything app', continuing his trend of introducing new features since acquiring Twitter.

Portfolio Pulse from Ananya Gairola

February 23, 2024 | 8:50 am

DRQ

DRIL-QUIP has been selected to supply subsea wellhead systems for the Woodside Trion development offshore Mexico. This contract signifies a notable achievement for DRIL-QUIP and could potentially influence its market position and financial performance.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 7:58 am

NVDA

Nvidia Corporation (NASDAQ:NVDA) has officially recognized Huawei Technologies as a significant competitor in the artificial intelligence (AI) chip market. This acknowledgment was made in a recent filing with the Securities and Exchange Commission, highlighting Huawei's involvement in AI chips and cloud services. Despite challenges from U.S. sanctions and chip constraints, Huawei remains a leader in the Chinese smartphone market. Meanwhile, Nvidia's market cap is nearing $2 trillion, reflecting its strong market position amidst growing AI demand.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 7:33 am

TSLA

Tesla Inc (NASDAQ:TSLA) has increased the price of its Model 3 Long Range in the U.S. by $250, marking the third price hike for this model in the month. The new starting price is $47,740, while the price of the base rear-wheel-drive variant remains at $38,990. This adjustment comes after Tesla reduced the starting prices of the Model Y SUV's RWD and long-range versions by $1,000 earlier in the month, a move CEO Elon Musk attributed to boosting vehicle deliveries during a seasonal demand slowdown.

Portfolio Pulse from Anan Ashraf

February 23, 2024 | 7:24 am