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Nvidia faces competition from Huawei's new AI chip, the Ascend 910B, which reportedly matches or surpasses Nvidia's A100 in some tests. This comes amid US export restrictions on Nvidia's advanced GPUs to China. Huawei's AI strategy has gained traction domestically, with major Chinese tech firms adopting its chips. Despite technological challenges, Huawei's AI chips present substantial competition to Nvidia within China. Nvidia's market valuation recently surpassed $3 trillion, but its shares were trading lower by 1.15% at $1,196.05.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 1:56 pm

BRZE

BTCUSD

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GME

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Bitcoin, Ethereum, and Dogecoin declined as markets await job data. GameStop reported Q1 results and announced a capital raise ahead of the 'Roaring Kitty' event. Semler Scientific purchased more Bitcoins, pushing its total portfolio past $58M. Braze shares rose by 14% premarket. The Federal Reserve needs more data before slashing rates. GameStop's stock is back above $60, driven by premarket activity.

Portfolio Pulse from Akanksha Bakshi

June 07, 2024 | 1:46 pm

EADSY

Airbus SE is constructing a new assembly line for its A320neo-family aircraft in Toulouse to replace an older one, aiming to modernize and expedite production starting next year. This move is part of Airbus' strategy to tackle supply chain issues and boost production of its best-selling A320neo model.

Portfolio Pulse from Shivani Kumaresan

June 07, 2024 | 1:44 pm

BTCUSD

Bitcoin experienced a sharp drop of $1,300 following the release of the U.S. employment report, which showed higher-than-expected non-farm payrolls and a slight increase in the unemployment rate. Despite this, institutional investors are driving significant Bitcoin accumulation, with new whale wallets adding around $1 billion in BTC daily. The demand for Bitcoin from large investors is growing, and holdings in Bitcoin spot ETFs in the USA have increased. However, the growth of stablecoin liquidity, particularly Tether's USDT, has slowed, which could hinder a sustained price rally.

Portfolio Pulse from Murtuza Merchant

June 07, 2024 | 1:25 pm

GFI

HMY

NEM

Shares of precious metals companies are trading lower amid a drop in gold and silver following US economic data.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:20 pm

Kroger has announced a new program allowing patients to explore medical treatments, including GLP-1s like Wegovy and Zepabound, as part of their weight loss journey. The program, starting at $99 per visit, is available both in-person and via telehealth, with insurance plans accepted to help cover costs.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:09 pm

APD

TTE

TotalEnergies and Air Products have signed a 15-year agreement for the annual supply of 70,000 tons of green hydrogen in Europe starting in 2030.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:04 pm

PPSI

Pioneer Power Solutions has received an order exceeding $5 million from a major U.S. metro transit authority for its E-Boost mobile EV charging solutions.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 1:01 pm

NVDA

Nvidia's stock has rallied 8% this week, and financial advisor Delano Saporu suggests investors be patient or look for buying opportunities at lower levels. Nvidia's valuation has surged due to high demand for its AI chips, making it the second most valuable company in the U.S. The company plans a ten-for-one stock split to attract more individual investors.

Portfolio Pulse from Benzinga Neuro

June 07, 2024 | 1:00 pm

AAPL

AMD

FTXL

NVDA

SSG

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) reported a 30% increase in May sales, driven by high demand for AI and recovering consumer electronics. TSMC produces semiconductors for Nvidia, Apple, and AMD, and expects AI development to drive sector recovery in 2024. Nvidia and Alphabet have significantly boosted the number of generative AI unicorns. TSMC stock gained 62% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 12:56 pm