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NVDA

TSLA

Elon Musk's AI start-up is reportedly seeking to raise $6 billion from investors to compete with OpenAI. The move comes as the race to dominate the AI sector intensifies, with significant implications for companies involved in AI technology and development.

Portfolio Pulse from Charles Gross

January 26, 2024 | 9:56 am

PEP

TSLA

PepsiCo Inc (NASDAQ:PEP) has reported that a Tesla Semi truck covered 1,076 miles in a single day with two drivers. PepsiCo, aiming for carbon neutrality by 2040, received Tesla Semis in 2022 and currently operates about 21 of them at its Sacramento distribution center. The Tesla Semi, still in pilot production, is expected to enter volume production in 2024. Tesla (NASDAQ:TSLA) is expanding Giga Nevada for Semi production and is working with PepsiCo to test the vehicle's durability.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 9:17 am

ERIC

Ericsson (NASDAQ:ERIC) has secured two funding agreements with the European Investment Bank (EIB) totaling EUR 420 million, with EUR 250 million already disbursed in December 2023. These loans will support Ericsson's R&D investments in wireless technology from 2023 to 2025, contributing to its goal of achieving Net Zero by 2040 by reducing energy consumption in mobile networks worldwide.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:33 am

CANG

Cango Inc. has formed a strategic partnership with Caocao Mobility to develop a next-generation smart mobility ecosystem. The collaboration will focus on new car sales, used car transactions, financing services, and mobility offerings, utilizing the strengths and resources of both companies.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:25 am

VNDA

Vanda Pharmaceuticals Inc. has received a notice of allowance from the U.S. Patent and Trademark Office for a patent application related to PONVORY® (ponesimod), which is used in the treatment of multiple sclerosis. The patent covers methods for reducing clinical management events and reinitiating treatment after missed doses, with an anticipated expiration date of October 10, 2042. Vanda plans to list the patent in the FDA's Orange Book upon issuance.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:21 am

JNPR

Juniper Networks has been chosen by James Cook University Singapore to provide an AI-driven network to support transformative blended learning experiences. This collaboration is expected to enhance the university's technological capabilities and offer advanced learning solutions.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:14 am

NSYS

Nortech Systems has announced the expansion of its fiber optic capabilities by introducing the new Expanded Beam XtremeTM technology. This innovation is expected to enhance the company's product offerings in the fiber optic space.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 7:07 am

RHHBY

Roche's Genentech has announced new long-term data for Vabysmo, showing sustained improvements in retinal drying and vision for patients with Retinal Vein Occlusion (RVO). The data indicates that up to 60% of patients could extend treatment intervals to three or four months. Detailed results from two global Phase III RVO studies will be presented at the Angiogenesis, Exudation, and Degeneration 2024 conference. Vabysmo is approved in the U.S. for RVO and in over 90 countries for wet AMD and DME.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 6:33 am

COIN

MARA

MSTR

RIOT

Following the introduction of spot crypto ETFs in the US, stocks like MicroStrategy Inc (MSTR) and Coinbase Inc (COIN) have seen a decline in their stock prices, with MSTR down 25% and COIN down 29% over the past month. Bitcoin mining companies Riot Platforms (RIOT) and Marathon Digital Holdings Inc. (MARA) also experienced significant drops of 41% and 38%, respectively. Despite the downturn in crypto stocks, the new Bitcoin ETFs have attracted significant inflows, with $5.2 billion since their inception, countering outflows from Grayscale's Bitcoin Trust. Bitcoin's price remains volatile, trading at $40,060, up 0.52% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

January 26, 2024 | 5:21 am

WDC

Worldcoin is redesigning its Orb device to be more user-friendly and aesthetically similar to Apple products, as revealed by CEO Alex Blania. The new design is expected in the first half of the year. The Orb scans irises to create a unique 'World ID' for accessing Worldcoin's applications. Despite polarized opinions on the device, Worldcoin has seen significant user growth, with 190,000 new users in the last week, totaling 3.13 million. The company has raised $250 million from investors like a16z and Bain Capital Crypto. OpenAI's CEO Sam Altman, a co-founder of Worldcoin, remains committed to the project amidst regulatory scrutiny in the U.K. and Germany. Worldcoin's cryptocurrency, WDC, is up 5.23% at $0.0079.

Portfolio Pulse from Mehab Qureshi

January 26, 2024 | 4:54 am