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Cristiano Ronaldo partnered with Binance to offer holders of a special CR7 NFT the chance to train with him in Lisbon. The event, which also featured TikTok star Khaby Lame and Binance's Ana Markovic, highlighted the real-world applications of NFTs. The training was part of the CR7 ForeverZone NFT collection, with the Golden Ticket allowing a holder to train with Ronaldo. Ronaldo emphasized the unique connection NFTs provide with fans. Previously, Ronaldo was named in a class-action lawsuit for promoting Binance.

Portfolio Pulse from Murtuza Merchant

January 25, 2024 | 7:20 pm

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NVDA

Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) stock rose on Thursday following the resolution of a significant patent lawsuit involving AI technology and a new partnership with AI software startup Hugging Face. The lawsuit by Singular Computing claimed $1.67 billion, but the terms of the resolution were not disclosed. The partnership with Hugging Face will allow the startup to host its platform on Google Cloud, enhancing access to AI tools for developers and strengthening Google's ties with the open-source AI community. Google's AI focus is part of a broader trend among tech giants like Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Nvidia (NASDAQ:NVDA), who are heavily investing in AI technology.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 7:08 pm

AMD

NVDA

AMD stock is trading higher as UBS analyst Timothy Arcuri raised his price target to $220, citing confidence in AMD's data center GPU revenue opportunity. Arcuri's analysis is based on firm demand commitments for AMD's MI300A/X units and sufficient CoWoS capacity to compete with Nvidia. He projects AMD could reach $5 billion in data center GPU revenue this year and anticipates the company's EPS to annualize at $6+ exiting this year, growing to $8 by the second half of 2025. AMD's stock outperformed the broader indexes last year with a 143% gain.

Portfolio Pulse from Anusuya Lahiri

January 25, 2024 | 7:01 pm

PYPL

PayPal Holdings, Inc. (NASDAQ:PYPL) shares are trading lower despite the company announcing six new innovations at the PayPal First Look keynote event. These include AI-driven personalization for merchants and consumers, reimagined checkout experiences, an advanced offers platform for merchants, a new consumer app with cash back, and enhanced business profiles for Venmo. The initiatives aim to transform commerce and capitalize on the growing digital commerce market, which is expected to exceed $6 trillion by 2024. Despite these announcements, PYPL shares dropped by 3.82% to $60.62.

Portfolio Pulse from Nabaparna Bhattacharya

January 25, 2024 | 6:58 pm

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Insurance company stocks have outperformed the S&P 500 in 2024, with the iShares U.S. Insurance ETF (IAK) rising 5% in January. The surge is attributed to the increasing costs of motor vehicle insurance, which have soared by 20.3% over the past year. The complexity and costliness of repairing high-tech vehicles, especially electric vehicles (EVs), are driving up insurance rates. EVs require more expensive repairs and longer repair times compared to traditional vehicles. The article lists top-performing insurance stocks year-to-date included in the iShares U.S. Insurance ETF.

Portfolio Pulse from Piero Cingari

January 25, 2024 | 6:49 pm

OCUL

Ocular Therapeutix's stock price has risen following the announcement that the FDA has agreed to a Special Protocol Assessment Agreement Modification for its Phase 3 SOL clinical trial of AXPAXLI in wet AMD.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:49 pm

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Ohio's medical cannabis sales reached a record $484.4 million in 2023, but the growth rate has stagnated to only 1.2% year-over-year. The market has seen declining growth rates since its inception, with revenue increases dropping from 297% in 2020 to just 1% in 2023. Despite selling 39% more plant material and 25% more manufactured products in 2023 than in 2022, the average flower retail price fell by 37%. Companies like Green Thumb Industries Inc. (GTBIF), Curaleaf Holdings Inc. (CURLF), and Cresco Labs Inc. (CRLBF) are preparing for Ohio's upcoming recreational cannabis market, which was legalized in November but has not yet commenced sales.

Portfolio Pulse from Jelena Martinovic

January 25, 2024 | 6:48 pm

IXHL

Incannex Healthcare (NASDAQ:IXHL), a clinical-stage pharmaceutical company, is developing medicinal cannabinoid drugs and psychedelic medicine therapies. The company is opening the first dedicated psychedelic-assisted therapy clinic in Melbourne, Australia, and has recently redomiciled to the U.S. from Australia. Incannex is working with the FDA to achieve authorization for its drugs and has 28 assets under development, with a focus on three main assets. The company's strategy is to provide favorable outcomes for shareholders and make a difference in patients' lives.

Portfolio Pulse from Lara Goldstein

January 25, 2024 | 6:44 pm

MSFT

OpenAI has announced a significant price reduction for its Text-Embedding-3-Small model, which is now 5 times cheaper than the previous Text-Embedding-ada-002 model. The new pricing is set at $0.00002 per 1,000 tokens, down from $0.0001.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:42 pm

MSFT

Microsoft has announced that it will introduce a new GPT-3.5 Turbo model, named GPT-3.5-Turbo-0125, next week.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:41 pm