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Ethereum co-founder Vitalik Buterin discussed the potential of AI in the cryptocurrency space, highlighting its current use in trading bots and future applications in prediction markets and user guidance. He also pointed out the risks of AI, such as vulnerability to manipulation and increased computational demands. Buterin remains optimistic about AI's constructive use cases in crypto. Meanwhile, Ethereum's price was up 1.13% at $2,340.

Portfolio Pulse from Mehab Qureshi

January 31, 2024 | 5:12 am

BTCUSD

DOGEUSD

ETHUSD

FBTC

IBIT

Cryptocurrencies showed mixed performance ahead of the Federal Reserve's rate decision, with Bitcoin ETFs experiencing significant inflows, particularly from BlackRock's IBIT and Fidelity's FBTC. The Invesco Galaxy Bitcoin ETF announced a fee reduction to 0.25%. Analysts suggest Bitcoin may consolidate before a potential increase due to the upcoming halving event, while Bitcoin whales have been accumulating, indicating bullish sentiment.

Portfolio Pulse from Mehab Qureshi

January 31, 2024 | 3:04 am

AMD

AMZN

GOOGL

MSFT

TSLA

U.S. stock indices showed mixed results with the Dow Jones up, while the S&P 500 and Nasdaq fell. Microsoft's stock declined slightly despite strong Q2 earnings and its Activision Blizzard acquisition. AMD's stock dropped ahead of its Q4 earnings, with high expectations from its diverse business segments. Alphabet's shares fell even though Q4 revenue exceeded estimates, driven by Search, YouTube, and Cloud services. Amazon's stock decreased amid customer dissatisfaction over ads in Prime Video. Tesla's shares rose slightly, but a court ruling voided Elon Musk's $55-billion compensation plan, potentially affecting his net worth and stake in the company.

Portfolio Pulse from Benzinga Neuro

January 31, 2024 | 2:44 am

BTCUSD

ETHUSD

SOLUSD

Ethereum (ETH) has seen an 8% increase week-over-week, with mixed analyst views on its performance against Bitcoin (BTC). While some traders expect ETH to underperform BTC, others anticipate a potential bottom for ETH/BTC due to rumors of an Ethereum ETF approval. The SEC has delayed decisions on ETF proposals from Grayscale and BlackRock's iShares Ethereum Trust. Bullish factors for Ethereum include increased staking, deflation, less availability on exchanges, and upcoming upgrades like the Dencun Upgrade. Major projects on the Ethereum network are expected to contribute to its growth, and the BTC/ETH correlation has dropped, suggesting a potential divergence in price movements. Ethereum aims to maintain its lead over Solana (SOL), which is seen as a growing competitor.

Portfolio Pulse from Khyathi Dalal

January 30, 2024 | 11:46 pm

BLK

BTCUSD

Anthony Scaramucci, founder of Skybridge Capital, predicts Bitcoin could reach $170,000 after the next halving event, citing historical price patterns and increased institutional demand. He credits BlackRock CEO Larry Fink for his evolved understanding of Bitcoin. Despite a tough 2022, Scaramucci's coin fund was up 160% in 2023. He remains optimistic about Bitcoin's resilience despite potential market upheavals.

Portfolio Pulse from Murtuza Merchant

January 30, 2024 | 10:52 pm

MARK

MSFT

Microsoft has entered into a five-year cloud services and marketing agreement with Remark Holdings, according to a recent filing. Remark's AI business unit and its customers are set to consume $80 million of Microsoft Azure cloud services. Microsoft will support Remark AI's integration of new customers with Azure by co-marketing Remark AI’s solutions on the Azure Marketplace, providing $2 million in Azure credits, and approximately $0.7 million in consulting and migration credits.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 10:34 pm

AXS

Chris Dixon of a16z claimed on the Hard Fork podcast that their portfolio companies do not sell tokens to the public. However, a review of a16z's investments shows otherwise, with DFINITY, Fei Protocol, and Sky Mavis (Axie Infinity) having conducted public token sales. Additionally, a16z-backed companies like VeeFriends, Yuga Labs, and PROOF Collective have sold NFTs to retail customers.

Portfolio Pulse from Murtuza Merchant

January 30, 2024 | 10:31 pm

TER

Teradyne, a provider of automated test equipment, anticipates a decrease in tester utilization affecting demand in the first half of the year. However, the company expects semiconductor test demand to improve incrementally from 2023 over the full year.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 10:18 pm

AMD

INTC

SOXX

AMD reported Q4 results in line with expectations, with strong Data Center revenue offsetting weaknesses in Embedded and Gaming. The company guided Q1 revenue above consensus, but the stock fell in after-hours trading. CEO Lisa Su highlighted the impact of AI on the market and the company's strong performance in high-performance data center products. AMD's Data Center segment saw significant growth, while the Client segment was affected by a weak PC market. AMD's outlook for Q1 includes flat Data Center revenue and declines in other segments. Analysts expect continued growth in AI revenue, with a projected $4 billion run-rate by the end of 2024. Raymond James downgraded AMD from Strong Buy to Outperform due to high AI revenue expectations. After the earnings call, AMD's stock price decreased, contrasting with the overall positive performance in January and the previous year.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 9:41 pm

GOOG

GOOGL

During Alphabet's conference call, CEO Sundar Pichai reported that the company's cloud segment experienced accelerated growth, attributing this to the impact of generative AI and product leadership. Pichai also mentioned that Alphabet is experimenting with Gemini AI in its search operations.

Portfolio Pulse from Charles Gross

January 30, 2024 | 9:40 pm