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WFC

TradeSun, a company specializing in trade finance and compliance digitization solutions, has signed an agreement with Wells Fargo (WFC) to implement its technology. This partnership aims to enhance the efficiency and security of Wells Fargo's trade finance operations.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 10:03 am

MSFT

Microsoft Corp. has invested $1.5 billion in UAE's leading AI firm G42, securing a board seat and indicating a strategic pivot towards reducing G42's presence in China. The deal includes G42's use of Microsoft's Azure cloud for AI applications and plans to establish a $1 billion fund for developers. This investment is part of Microsoft's broader strategy to enhance its AI and cloud capabilities, aligning with predictions of leading in public cloud by 2032 and benefiting from increased IT spending on AI technologies.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 9:51 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares are facing a potential third consecutive session decline, premarket trading shows a 1.98% drop to $161.48. This downturn is attributed to concerns over significant layoffs, including high-profile executives, which erased about $30 billion from its market cap. The upcoming Q1 earnings report and rumors of halting a sub-$30,000 electric car project have also contributed to negative sentiment. Additionally, weak insurance registration data in China could further impact Tesla's stock.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 9:23 am

FXI

INTC

SPY

Intel plans to launch two AI chips, HL-328 and HL-388, with reduced capabilities in China to adhere to U.S. export controls. The launches are scheduled for June and September, respectively. This move is in response to the regulations aimed at limiting China's access to advanced computing chips.

Portfolio Pulse from Charles Gross

April 16, 2024 | 9:14 am

JG

Aurora Mobile has launched GPTBots.AI, Asia's first on-premise AI bot platform, marking a significant advancement in the region's AI capabilities.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 9:01 am

EGHT

8x8 has introduced Operator Connect for Microsoft Teams, leveraging its Global Reach network to offer reliable calling and simplify deployment and management for Microsoft Teams Phone customers. This solution aims to enhance admin efficiency.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:06 am

ZS

GLP, a global real estate logistics provider and investment manager, has chosen Zscaler's cloud security platform, Zscaler for Users, to enhance its cybersecurity measures. This decision comes as GLP seeks to address the limitations and risks of its legacy VPN-based security stack, which was deemed inadequate against sophisticated cyber attacks.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 7:48 am

NBIX

Nxera Pharma's NBI-1117568, an oral, selective muscarinic M4 receptor agonist, has successfully completed a long-term preclinical toxicity program. This achievement, part of a collaboration with Neurocrine Biosciences, triggers a $15 million payment to Nxera from Neurocrine. NBI-1117568 is advancing through Phase 2 clinical development.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 7:46 am

TSLA

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has indicated a strategic shift towards 'wartime CEO' mode, focusing on the robotaxi project after laying off over 10% of the global workforce. The layoffs aim to reduce costs and eliminate duplicate roles amid Tesla's faltering fundamentals since 2022. Senior executives Drew Baglino and Rohan Patel have departed, and projects, including a cathode factory at Giga Texas, have been dropped in favor of the robotaxi initiative. Tesla's workforce has significantly increased over the years, but its revenue per employee in 2023 was lower than competitors like GM and Ford. Amidst this, Tesla is preparing to unveil its robotaxi on August 8, despite concerns over the cancellation of a low-cost electric vehicle project.

Portfolio Pulse from Anan Ashraf

April 16, 2024 | 7:29 am

ARGX

argenx has announced transformative results for VYVGART and VYVGART Hytrulo in treating autoimmune diseases. ADHERE data indicate VYVGART Hytrulo could be the first major advancement for CIDP patients in 30 years. Additionally, real-world data show significant reduction in steroid use for gMG patients within the first six months of VYVGART treatment.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 7:18 am