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Regulatory

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The past week in AI saw concerns over misuse and regulatory scrutiny, alongside bullish market predictions and tech advancements. Stephen Fry voiced concerns over AI misuse, while UK and US officials grappled with ethical and monopolistic challenges. An analyst offered a bullish outlook on Microsoft, citing AI’s potential to drive higher profits. Alphabet announced enhancements to its AI chatbot Bard. Palantir Technologies CEO Alex Karp voiced concerns about the risks AI poses to humanity.

Portfolio Pulse from Benzinga Neuro

September 24, 2023 | 2:02 pm

TSN

The U.S. Labor Department is investigating Tyson Foods (NYSE:TSN) and Perdue Farms over allegations of child labor violations. The probe was triggered by a New York Times Magazine article detailing the employment of migrant children as young as 13 in overnight shifts at the companies' plants in Virginia. Both Tyson and Perdue have denied knowledge of children working in their plants and pledged to cooperate with the investigations.

Portfolio Pulse from Benzinga Neuro

September 24, 2023 | 12:56 pm

BTCUSD

DOGEUSD

ETHUSD

TRXUSD

Last week saw significant developments in the crypto world. Grayscale Investments filed for an Ethereum futures ETF following a court victory against the SEC. The Tron Network hit 1 billion USDT, with founder Justin Sun declaring Tron as the 'king of USDT'. Floki, a coin named after Elon Musk's dog, outperformed other top meme coins like Dogecoin and Shiba Inu. SkyBridge Capital founder, Anthony Scaramucci, expressed optimism for Bitcoin at the Messari Mainnet conference.

Portfolio Pulse from Benzinga Neuro

September 24, 2023 | 1:01 am

ATAI

GOOGL

TSLA

The practice of microdosing psychedelics is gaining popularity among tech leaders for its perceived benefits on creativity, focus, and well-being. High-profile tech figures like Elon Musk of Tesla and SpaceX, and Sergey Brin of Google have reportedly used psychedelics. The trend is also being explored for medical treatments, with companies seeking FDA approval. However, the scientific evidence supporting the benefits of microdosing is still limited.

Portfolio Pulse from Lara Goldstein

September 23, 2023 | 7:22 pm

COIN

HOOD

The crypto wallet market, dominated by offline channels for security reasons, is expected to grow from $8.24 billion in 2022 to around $46.72 billion by 2030, with a CAGR of approximately 24.2%. U.S.-based companies Coinbase (NASDAQ:COIN) and Robinhood Markets (NASDAQ:HOOD) have contributed to this surge by offering wallets to facilitate crypto investment. A recent survey by Nerd Wallet highlighted the top crypto wallets of 2023, including MetaMask, which saw a 31% growth in traffic in 2023. Regulatory challenges persist, with U.S. Senator Elizabeth Warren’s bipartisan crypto anti-money laundering bill gaining support.

Portfolio Pulse from Khyathi Dalal

September 23, 2023 | 3:31 pm

LCID

Lucid Group Inc. (NASDAQ:LCID) has received an operating license to start car production in Saudi Arabia's Special Economic Zone of King Abdullah Economic City. The company plans to start deliveries from the initial facility in the third quarter. Lucid has a purchase agreement with the Saudi government to sell up to 100,000 vehicles over the next 10 years, including vehicles built and assembled at the company’s existing Arizona factory.

Portfolio Pulse from Anan Ashraf

September 23, 2023 | 8:44 am

LFLY

Leafly Holdings, Inc. (NASDAQ:LFLY) has filed a lawsuit against New York's Office of Cannabis Management (OCM) over third-party advertising and marketing services. The New York Attorney General's Office has agreed to a stay, blocking the enforcement of the challenged regulations against Leafly and fully operational licensed cannabis dispensaries in New York. This allows Leafly to continue offering paid advertising services and transmit orders to licensed cannabis retailers.

Portfolio Pulse from Jelena Martinovic

September 23, 2023 | 1:27 am

PMN

ProMIS Neurosciences Inc has filed for a shelf of up to 22.1 million common shares by selling stockholders, according to a SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:54 pm

MGNX

SNY

MacroGenics has amended its royalty purchase agreement, incorporating a sales milestone payment obligation guaranteed by Sanofi. The amendment also eliminates any obligation for Provention Bio to pay royalty interest to MacroGenics, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:48 pm

MGNX

MacroGenics Inc and Provention Bio have amended their asset purchase agreement. Concurrently, MacroGenics and Aventis Inc have mutually terminated their royalty purchase agreement, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:47 pm