Streetbeat News

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ACB

CGC

IMCC

LFLY

SNDL

TLRY

Cannabis stocks are experiencing an uptick following the German government's approval of cannabis legalization. This development is seen as a positive catalyst for companies in the cannabis industry, potentially opening up a significant new market.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 2:44 pm

AAPL

BIDU

GOOG

NVDA

Apple Inc is in preliminary talks with Baidu Inc to incorporate Baidu's generative AI technology into Apple devices in China, adhering to local regulations. This move is part of Apple's broader strategy to enhance its AI capabilities, alongside considering partnerships with global AI leaders like Alphabet Inc's Google and OpenAI. The discussions highlight Apple's commitment to the Chinese market, despite efforts to diversify its supply chain and challenges in iPhone sales in China. U.S. sanctions on China impact Nvidia Corp, a key AI chip supplier to Apple, especially as Baidu shifts to Huawei, intensifying competition.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 2:41 pm

ASML

BABA

BIDU

NVDA

Huawei Technologies Co and a Chinese chipmaking partner have developed a patent for self-aligned quadruple patterning (SAQP), potentially bypassing the need for ASML Holding NV's EUV lithography machines, which are restricted from sale to China by US export controls. This development could allow for the production of advanced semiconductors without ASML's technology. Following this news, ASML's stock price fell. Additionally, Huawei's advancements in semiconductor technology and strategic moves, such as outbidding Nvidia Corp for a significant AI chip order from Baidu Inc, alongside Alibaba Group Holding Limited's reported plans to reduce Nvidia chip orders, highlight a shift in the semiconductor landscape.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 2:30 pm

CGC

Canopy Growth Corporation (CGC) shares are rising following Germany's legalization of cannabis, marking a significant shift in the legal and cultural stance on cannabis. This change, effective April 1, 2024, positions Canopy Growth, through its Storz & Bickel vaporizer brand and Canopy Medical, as a top player in the German market. The legalization offers growth opportunities for recreational and medical cannabis sectors, with Canopy Growth aiming to expand its commercial presence and drive medical cannabis awareness and education.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 2:30 pm

IDAI

Trust Stamp President Andrew Gowasack commented on the U.S. Court of Appeals for Fifth Circuit's decision, highlighting the significance for AI-based age estimation services. The decision supports the use of digital facial images for age verification, aligning with Trust Stamp's technology that ensures no biometric data is stored. The Texas statute, HB 1181, imposes penalties on non-compliant sites, indicating a potential rush for compliance. Gowasack sees vast opportunities for their AI-Powered solution in both online and in-person age verification applications.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 2:03 pm

AAPL

The US Justice Department and 17 states have filed a lawsuit against Apple Inc (NASDAQ:AAPL), accusing it of monopolizing the smartphone market by violating federal antitrust law. The lawsuit claims Apple used contractual terms to limit competition in areas such as text messaging, mobile payments, and app integration. This is part of a broader effort by regulators to address the power of Big Tech. Apple, now the world's biggest smartphone seller, disputes the lawsuit, arguing it compromises its ability to innovate. The case highlights Apple's shift from innovation to defending its market share amid increasing regulatory scrutiny and competition.

Portfolio Pulse from Upwallstreet

March 22, 2024 | 1:55 pm

NTLA

REGN

Intellia Therapeutics has informed Regeneron Pharmaceuticals of its decision to opt out of the co-development and co-funding agreement for Factor IX, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:29 pm

ARKG

ARKK

ARKQ

BTCUSD

ARK Investment Management LLC predicts five disruptive technologies (AI, Energy Storage, Robotics, Multiomics, and Public Blockchains) could reach a market value of $220 trillion by 2030. These technologies are expected to drive significant economic growth and productivity. ARK's ETFs, ARKK, ARKQ, and ARKG, track the progress in AI, Robotics, and Genomics, respectively. The report also highlights the potential of cryptocurrencies, especially Bitcoin, to stabilize renewable energy grids and compete with fiat currencies.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 1:26 pm

GOOGL

UMGNF

Tennessee Governor Bill Lee signed the 'ELVIS Act' into law, aimed at protecting artists from unauthorized AI use of their vocal likeness. This first-of-its-kind law in the U.S. underscores the importance of safeguarding artists' intellectual property amidst the rise of AI technologies. The law, effective July 1, allows civil action against unauthorized AI exploitation of artists' voices or likenesses. It reflects bipartisan support and Tennessee's commitment to its music industry. Meanwhile, Universal Music Group and others are taking legal actions against AI misuse, while some artists explore AI's potential in music production.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 1:22 pm

OTLK

Outlook Therapeutics' stock price increased following the announcement that the European Union CHMP has given a positive opinion on ONS-5010 for treating Wet AMD.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:20 pm