Streetbeat News

Regulatory

TSLA

Tesla CEO Elon Musk, at the 2023 World Artificial Intelligence Conference, stated that Tesla is closer than ever to achieving full self-driving (FSD) capability. Musk praised China's potential in various sectors, including AI. Despite previous predictions, Musk believes Tesla is 'very close' to reaching Level 4 autonomous driving. Tesla's FSD software still requires active driver supervision, and the company faced a lawsuit from shareholders claiming the company exaggerated the effectiveness and safety of its Autopilot and FSD technologies.

Portfolio Pulse from Anan Ashraf

July 06, 2023 | 9:42 am

META

Meta Platforms Inc.'s (NASDAQ:META) new app, Threads, has attracted 10 million users in its first seven hours. However, due to the way Threads is designed and linked to Instagram, deleting a Threads account will also delete the linked Instagram account. This is due to a clause in Meta's privacy policy.

Portfolio Pulse from Rounak Jain

July 06, 2023 | 8:26 am

GOOG

GOOGL

MSFT

OpenAI is increasing efforts to prevent the emergence of rogue AI systems, forming a specialized research team called the Superalignment team. The team aims to create a “human-level” AI alignment researcher to address the risks posed by superintelligent AI. OpenAI plans to dedicate 20% of its computing power over the next four years to this mission. The company's co-founder and chief scientist, Ilya Sutskever, will lead the new team. OpenAI's chatGPT and Microsoft Corporation's Bing AI have faced criticism for being 'woke' and going rogue, respectively.

Portfolio Pulse from Ananya Gairola

July 06, 2023 | 7:33 am

STLA

Stellantis NV (NYSE:STLA) has announced it will resume construction at its $3.76 billion battery plant in Windsor, Canada, ending a dispute with the Canadian government over financial support. The plant, which was put on hold in May, is expected to have an annual production capacity of over 45 GWh and is set to launch operations in 2024. The exact amount of government subsidies the plant will receive is not yet clear.

Portfolio Pulse from Anan Ashraf

July 06, 2023 | 4:49 am

BLK

BTCUSD

Larry Fink, CEO of BlackRock Inc, has expressed support for cryptocurrencies, particularly Bitcoin, which he described as an 'international asset'. He suggested that Bitcoin could serve as a hedge against inflation or currency devaluation. BlackRock is currently seeking approval to list a spot Bitcoin ETF, with Coinbase as a surveillance partner. However, the SEC's approval is uncertain given its history of rejecting such applications.

Portfolio Pulse from Mehab Qureshi

July 06, 2023 | 3:31 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline following the Federal Open Market Committee (FOMC) meeting on June 14, which revealed a consensus for further interest rate hikes in 2023. Despite this, analysts suggest that Bitcoin is primed for a significant surge, mirroring historical cycles in 2016 and late 2020. The global crypto market capitalization decreased by 1.66% over the last day, standing at $1.19 trillion. US stocks also declined, with the S&P 500 and Nasdaq Composite experiencing decreases of 0.2% and 0.18% respectively.

Portfolio Pulse from Mehab Qureshi

July 06, 2023 | 2:41 am

GOOGL

META

Canada's Heritage Minister, Pablo Rodriguez, announced plans to halt government advertising spending on Facebook and Instagram, platforms owned by Meta Platforms Inc. (NASDAQ:META). This decision comes in response to Meta and Alphabet Inc's Google (NASDAQ:GOOGL) signaling their intention to block Canadian news content in response to the new Online News Act. The move is expected to significantly impact Meta's advertising revenue.

Portfolio Pulse from Benzinga Neuro

July 06, 2023 | 1:12 am

ALLR

META

RIVN

SAVA

TSLA

US stocks traded mostly lower with the Dow Jones dropping around 120 points. The Federal Open Market Committee (FOMC) meeting revealed a consensus for additional interest rate hikes in 2023. Rivian Automotive, Meta Platforms, Allarity Therapeutics, Tesla, and Cassava Sciences were the top stocks that gained attention. Rivian and Meta Platforms closed higher, Allarity Therapeutics showed potential for improved clinical benefit in a trial, Tesla is expected to launch Cybertruck, and Cassava Sciences announced slowed cognitive decline in a study.

Portfolio Pulse from Benzinga Newsbot

July 06, 2023 | 12:48 am

BNBUSD

BTCUSD

Binance CEO Changpeng Zhao anticipates a surge in trading volume over the next six to 18 months. He attributes the expected increase to several factors, including new applications for spot Bitcoin ETFs and the forthcoming Bitcoin halving event. Despite ongoing legal issues with U.S. regulators, Zhao maintains a positive outlook on the future of crypto and reassures that Binance has the stamina to last even if the bear market persists.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 10:54 pm