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BTDR

UBS predicts a significant expansion in the AI industry, forecasting a growth from $2.2 billion in 2022 to $225 billion by 2027, a 152% CAGR. AI sector revenue is expected to increase 15-fold, from $18 billion to $420 billion, with a 138% CAGR in the application sector. AI infrastructure spending is also projected to grow, benefiting hardware chips and GPUs used in AI training. Despite concerns over regulatory rhetoric, early rule implementation may be advantageous. The tech industry is experiencing 'peak AI hype,' with investors looking for returns on AI investments.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 8:09 am

EWQ

France's preliminary Consumer Price Index (CPI) for December showed a 0.1% increase, which is lower than the estimated 0.2% and a decrease from the previous -0.2%.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:46 am

AMZN

TSLA

Jim Cramer, the host of CNBC's Mad Money, has advised investors to take profits on their Big Tech investments, highlighting the importance of profit-taking even when it's difficult to let go of shares from the 'Magnificent Seven', a group of top-performing tech companies. He mentioned that despite potential regrets of selling these stocks, the current market conditions might present a lower buy-in opportunity. Cramer specifically pointed out Amazon (AMZN) for its Prime Video service's revenue potential and Tesla (TSLA) for its future growth beyond electric vehicles.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 7:46 am

CRM

META

NVDA

Mark Zuckerberg resumed selling Meta Platforms Inc. (META) shares after a two-year hiatus, offloading $428 million worth in the last two months of 2023. Zuckerberg sold shares every trading day from November 1 through year's end, totaling nearly 1.28 million shares. Meta's stock price rebounded in 2023, surging by 194% from a seven-year low. Marc Benioff of Salesforce Inc. (CRM) also sold over $475 million worth of shares in the second half of 2023. Despite the sales, these transactions represented a small portion of the tech moguls' wealth.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 7:35 am

BNR

Burning Rock Biotech has been notified by NASDAQ about not meeting the minimum bid price requirement. The company's stock price has fallen below the required $1.00 minimum bid price for the last 30 consecutive business days. NASDAQ's notification does not result in the immediate delisting of Burning Rock Biotech's shares. The company has a compliance period of 180 calendar days to regain compliance. If at any time during this period the bid price of the company's stock closes at $1.00 or higher for a minimum of 10 consecutive business days, NASDAQ will provide written confirmation of compliance.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:25 am

FGF

FGFPP

FG Financial Group and FG Group Holdings have announced a merger to form Fundamental Global Inc. The merger is expected to result in significant expense savings, improved scale, and capital efficiency. The combined entity will have over $110 million in total assets and $65 million in annual revenue. Post-merger, the company will trade on Nasdaq under the tickers 'FGF' for common stock and 'FGFPP' for Series A cumulative preferred stock.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:14 am

KROS

Keros Therapeutics has announced the pricing of an upsized public offering of 3.5 million common shares at $40 per share, aiming to raise $140 million.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 7:01 am

SLS

SELLAS Life Sciences plans to launch a public offering of common stock and warrants to fund ongoing operations, including clinical development of product candidates, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 6:54 am

BTCUSD

A cryptocurrency whale deposited 3,100 BTC into Binance before Bitcoin's price dropped to $40K, potentially making a $78M profit. The BTC was originally withdrawn from HTX when the price was $20,000. The market slump coincided with concerns over the SEC potentially rejecting spot Bitcoin ETF applications.

Portfolio Pulse from Mehab Qureshi

January 04, 2024 | 6:43 am

F

TSLA

Ford Motor Co (NYSE:F) CEO Jim Farley celebrated Ford's achievement of the new Ford Ranger becoming the best-selling vehicle in Australia for 2023, marking the first time in nearly 30 years a Ford vehicle has topped sales charts in the country. This success follows Ford's entry into the Australian electric vehicle market and plans to introduce at least five new electric vehicles by the end of 2024. Meanwhile, Tesla Inc. (NASDAQ:TSLA) continues to experience strong demand in Australia, with its Model 3 and Model Y nearly selling out in June.

Portfolio Pulse from Ramakrishnan M

January 04, 2024 | 6:25 am