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Ray Dalio, billionaire investor and founder of Bridgewater Associates, has quoted legendary economist John Maynard Keynes to express what he feels about cash as an asset in the current econ

Ray Dalio No Longer Believes Cash Is Trash: &#39;When Facts Change, I Change My Mind&#39;

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China has taken a new step in the ongoing economic battle with the west, launching a new anti-dumping probe of plastics <a href="https://www.benzinga.com/topic/china">made in the U.S. and the European Union</a>.
The move can be read as a possible retaliation against recent protectionist measures by Western countries, including <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">a recent increase of tariffs on Chinese imports led by President Joe Biden</a>.
The Chinese probe was announced on Sunday by the country's commerce ministry, looking into imports of polyoxymethylene copolymer, a type of plastic widely used in consumer electronics, household items, car parts as well as in industrial applications.
Public companies manufacturing this material include Celanese Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>),&nbsp;BASF SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BASFY#OTC">BASFY</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), Mitsubishi Chemical Holdings Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MTLHY#OTC">MTLHY</a>), Asahi Kasei Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AHKSY#OTC">AHKSY</a>) and SABIC (Saudi Basic Industries Corporation) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SABRY#OTC">SABRY</a>).
Over the next year, China will look into imports of the chemical, also known acetal or POM, coming from the U.S., Japan, Taiwan and the EU, in efforts to find out if imports are being priced at equal levels to their domestic markets.
In an anti-dumping probe, a country will try to assess whether companies from a different country are pricing items at lower prices in order to gain market share and take out the local competition.
The probe could be extended for a period of six months after the one-year period is completed.
Also read: <a href="https://www.benzinga.com//node/38915754">Chinese EV Maker Li Auto Misses Q1 Revenue Expectations Despite Surging Vehicle Sales, Stock Tanks</a>
Is China Striking Back? Biden's measures from last week struck a nerve in China as the U.S. government pushed forward a plan to further protect U.S. manufacturing jobs by imposing higher tariffs on Chinese goods.
The heavy taxes include a 25% tariff on Chinese steel and aluminum, a new 100% tariff on Chinese electric vehicles, a 25% tariff on EV batteries and critical minerals, upsized tariffs on Chinese solar panels, raised from 25% to 50%, and a new 50% tariff on semiconductors made in China.
The move is said <a href="https://www.benzinga.com/markets/equities/24/05/38839620/bidens-new-tariffs-on-chinese-imports-are-a-clear-giveaway-to-these-two-tesla-rivals-jim-cramer-">to directly benefit U.S. carmakers Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)&nbsp;and General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)</a>.
Biden's recent measures are part of an all-out campaign to attract undecided voters by pushing protectionist measures aimed at safeguarding U.S. jobs and industrial capabilities. His GOP opponent Donald Trump, who has boasted the more protectionist, anti-China discourse in recent years, <a href="https://www.benzinga.com/general/politics/24/05/38923614/trump-vs-biden-hush-money-trial-fails-to-dampen-support-trump-maintains-1-point-lead-in-2024-ele">maintains a one-point lead, according to the most recent polls</a>.
EU Eyes Chinese EVs, Steel, More: Biden's new tariffs build on previous ones imposed by Trump during the previous White House administration. The new tariff announcement synced with another blow to Chinese international commerce coming from across the Atlantic.
The European Commission, which is the executive arm of the European Union, is halfway through a<a href="https://www.benzinga.com/government/24/01/36751546/xi-jinping-representative-slams-eu-for-unfair-probe-into-ev-subsidies-mostly-targeted-at-china"> probe looking at whether the bloc should impose tariffs on Chinese electric vehicles</a>, following the example of the U.S. 
Last week, the EU announced several new probes aimed at finding out whether Chinese companies are benefiting from state subsidies that could allow them to market cheaper products in Europe, therefore displacing European companies.
The investigations, being carried out by the European Commission, are centered on iron or steel products coming from China, as well as wood flooring and medical devices.
Several Chinese products associated with the production of clean energy, including wind turbines, solar panels, are also being researched by the bloc, according to Reuters.&nbsp;
Now read: <a href="https://www.benzinga.com//node/38912375">&#8216;Oh My Word:&#8217; Tesla FSD Wows Boris Johnson As It Drives His Family Around &#8216;Hair-Raising&#8217; LA Roads; Ex-UK Leader Reveals New Feature In Works</a>
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AHKSY

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SABRY

China Strikes Back At Biden's Tariffs With New Investigation Into Plastics Imports: 6 Stocks Caught In Crossfire

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FIHL

Fidelis Insurance Announces Launch Of Secondary Public Offering Of 9M Common Shares By Certain Of Its Shareholders

PFSI

PennyMac Financial Services Reports Pricing Of Private Offering Of $650M Of Senior Notes

Taro Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TARO#NYSE">TARO</a>) reported quarterly earnings of $0.43 per share which beat the analyst consensus estimate of $0.31 by 38.71 percent. The company reported quarterly sales of $164.941 million which beat the analyst consensus estimate of $156.062 million by 5.69 percent. This is a 12.52 percent increase over sales of $146.587 million the same period last year.

Earnings

Earnings Beats

TARO

Taro Pharmaceutical Indus Q4 Adj EPS $0.43 Beats $0.31 Estimate, Sales $164.941M Beat $156.062M Estimate

Original meme stocks GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) and AMC Entertainment Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) perked up in late trading Monday afternoon on no apparent news. The movement appears to be a continuation from <a href="https://www.benzinga.com/etfs/sector-etfs/24/05/38901285/exclusive-gamestop-amc-buzz-may-prove-to-be-short-lived-ceo-of-company-behind-meme-etf-tells-ben">last week&#8217;s retail investor momentum</a>.
What To Know: Although GameStop and AMC shares have been trending lower in recent trading sessions, the pair of meme stocks are still up significantly in recent weeks. GameStop shares are up approximately 131% over the last month and AMC shares are up just shy of 43%.
The rally started when&nbsp;Keith Gill, best known as&nbsp;Roaring Kitty, posted a simple&nbsp;<a href="https://twitter.com/TheRoaringKitty/status/1789807772542067105" target="_blank" rel="noreferrer noopener">meme</a>&nbsp;of a person leaning forward in a chair last week following a three-year absence from social media.
Gill posted a series of videos on YouTube leading up to the historic short squeeze in 2021. When GameStop shares started soaring, the trader began posting updates of his positions on Reddit's r/WallStreetBets. Gill is often credited with sparking the meme stock mania that took place in 2021.
Gill&#8217;s return to social media was the fuel for last week&#8217;s rally in meme stocks that ultimately resulted in several high short interest names catching bids. He mainly just&nbsp;<a href="https://www.benzinga.com/general/social-media/24/05/38824759/roaring-kittys-timed-posts-on-x-ignite-fresh-rallies-in-gamestop-amc-more-meme-stocks" target="_blank" rel="noreferrer noopener">posted video clips</a>&nbsp;on X throughout the week, but that was enough for retail to run with.
It&#8217;s worth noting that Gill hasn&#8217;t provided an update on his GameStop investment from 2021, so it&#8217;s not clear if he maintains a position. He also hasn&#8217;t posted anything on X since the E.T. post he made at the market close on Friday. Some are suggesting the video was meant as a final farewell to social media.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/24/05/38922165/roaring-kitty-phones-home-gamestop-influencer-goes-silent-after-e-t-movie-clip-signals-potential-go">Roaring Kitty Phones Home? GameStop Influencer Goes Silent After &#8216;E.T.&#8217; Movie Clip Signals Potential Goodbye</a>
Despite the lack of updates from Gill, retail traders are active on social platforms. Both GameStop and AMC were seeing high message volumes on Stocktwits Monday afternoon. The tickers were also among the most mentioned on Reddit&#8217;s r/WallStreetBets over the last 24 hours.
A lot of the chatter seems to be surrounding Gill&#8217;s next potential move. Others are still pointing to the heavy short interest in the meme names, asking other users to buy and hold the pair of stocks in an effort to squeeze short sellers out. 
Both GameStop and AMC took advantage of the rapid surge in their shares last week. GameStop announced plans to sell up to 45 million shares and AMC entered into agreements to&nbsp;<a href="https://www.benzinga.com/news/24/05/38843779/whats-going-on-with-amc-entertainment-stock-wednesday" target="_blank" rel="noreferrer noopener">issue stock in exchange for notes</a>.
GME, AMC Price Action: GameStop shares closed Monday up 4.41% at $23.19 and AMC closed the day up 9.77% at $4.83. Both stocks were trending lower in Monday&#8217;s after-hours session at last check, per <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Photo: Sergei Tokmakov from Pixabay.

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GameStop, AMC Entertainment Shares Spike Monday Afternoon: What's Going On?

Yalla Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YALA#NYSE">YALA</a>) reported quarterly Adj earnings of $0.20 per share. The company reported quarterly sales of $78.729 million which beat the analyst consensus estimate of $78.055 million by 0.86 percent. This is a 7.09 percent increase over sales of $73.518 million the same period last year.

YALA

Yalla Group Q1 2024 Adj EPS $0.20, Sales $78.729M Beat $78.055M Estimate

Hesai Group&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) reported quarterly Adj losses of $(0.08) per share which met the analyst consensus estimate. The company reported quarterly sales of $49.74 million which beat the analyst consensus estimate of $47.44 million by 4.84 percent. This is a 20.55 percent decrease over sales of $62.60 million the same period last year.

HSAI

Hesai Group Q1 Adj EPS $(0.08), Inline, Sales $49.74M Beat $47.44M Estimate

<a href="https://www.coindesk.com/policy/2024/05/20/ether-etfs-filing-process-sees-abrupt-progress-though-approval-not-guaranteed-sources/#:~:text=to%20these%20products.-,Exchanges%20are%20being%20asked%20to%20update%2019b%2D4%20" title="https://www.coindesk.com/policy/2024/05/20/ether-etfs-filing-process-sees-abrupt-progress-though-approval-not-guaranteed-sources/#:~:text=to%20these%20products.-,Exchanges%20are%20being%20asked%20to%20update%2019b%2D4%20">https://www.coindesk.com/policy/2024/05/20/ether-etfs-filing-process-sees-abrupt-progress-though-approval-not-guaranteed-sources/#:~:text=to%20these%20products.-,Exchanges%20are%20being%20asked%20to%20update%2019b%2D4%20filings%20on,a%20key%20deadline%20this%20Thursday.</a>
&nbsp;
The exchanges that want to list and trade shares of spot ether <a href="https://coindesk.com/price/ethereum/">(ETH)</a> exchange-traded funds are abruptly being asked by regulators to update key filings related to these products.
Exchanges are being asked to update 19b-4 filings on an accelerated basis by the U.S. Securities and Exchange Commission, three people familiar with the situation told CoinDesk, suggesting they may be moving to approve these applications ahead of a key deadline this Thursday.
That doesn&#39;t mean the ETFs will be authorized, though. Would-be issuers also need their S-1 applications approved before the products could begin trading. SEC could take an indefinite amount of time to approve the S-1 documents, one person familiar with the matter said, as it isn&#39;t tied to a deadline.

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$ETH

"Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed; Exchanges Are Being Asked To Update 19b-4 Filings On An Accelerated Basis By The U.S. SEC" - CoinDesk

Zepp Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZEPP#NYSE">ZEPP</a>) reported quarterly Adj losses of $(0.19) per ADS which missed the analyst consensus estimate of $(0.03) by 533.33 percent. This is a 29.63 percent increase over losses of $(0.27) per ADS from the same period last year. The company reported quarterly sales of $39.80 million which missed the analyst consensus estimate of $46.24 million by 13.93 percent. This is a 57.64 percent decrease over sales of $93.95 million the same period last year.

ZEPP

Zepp Health Q1 Adjusted Loss Per ADS $(0.19) Misses $(0.03) Estimate, Sales $39.80M Miss $46.24M Estimate

Discover Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) has outperformed the market over the past 15 years by 6.81% on an annualized basis producing an average annual return of 19.25%. Currently, Discover Finl has a market capitalization of $31.23 billion. 
Buying $100 In DFS: If an investor had bought $100 of DFS stock 15 years ago, it would be worth $1,401.69 today based on a price of $124.61 for DFS at the time of writing.
<h3>Discover Finl's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1716238819_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 15 Years Ago Would Be Worth $1,400 Today

Gartner (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>) has outperformed the market over the past 10 years by 9.68% on an annualized basis producing an average annual return of 20.4%. Currently, Gartner has a market capitalization of $35.42 billion. 
Buying $100 In IT: If an investor had bought $100 of IT stock 10 years ago, it would be worth $640.06 today based on a price of $456.30 for IT at the time of writing.
<h3>Gartner's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1716238814_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 10 Years Ago, You Would Have $600 Today

Rubicon Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBT#NYSE">RBT</a>) shares are falling after the company reported its first-quarter financial results Monday. Here's a <a href="https://www.benzinga.com/pressreleases/24/05/b38926484/rubicon-reports-first-quarter-2024-financial-results">look at the details.&nbsp;</a>
The Details:
Rubicon Technologies reported $163.062 million in sales for the quarter, representing a 9.96% decrease from the same period last year. The company also reported quarterly losses of 33 cents per share. 
&#8220;We are pleased to report our results for the first quarter, demonstrating our continued momentum through year-over-year Adjusted EBITDA improvement on our path to profitability. This performance is a testament to the dedication and hard work of our team, as well as the trust and support of our customers,&#8221; said Phil Rodoni, CEO of Rubicon.
&#8220;The recent sale of the fleet technology business unit aligns with our strategic vision to lead our industry by innovating and investing in sustainable practices that meet the evolving needs of both our hauler network and customer base. We are excited to leverage this newfound financial agility to drive growth, enhance our competitive edge, and deliver exceptional value to our shareholders and customers alike.&#8221;
On May 7, the company announced it had sold its fleet technology business and issued convertible preferred stock in Rubicon to Rodina Capital in a sale with a total transaction value of $94.2 million, which includes up-front cash of $61.7 million and an earnout consideration of $12.5 million that could become payable in 2024. 
Rubicon also issued $20.0 million of convertible preferred stock to Rodina Capital.
Rubicon shares are trading lower following the print after gaining 27.4% during regular trading Monday. 
Related News:<a href="https://www.benzinga.com/news/24/05/38741220/whats-going-on-with-pelotons-stock"> </a><a href="https://www.benzinga.com/news/earnings/24/05/38926952/palo-alto-networks-shares-drop-after-q3-results-in-line-guidance-the-details">Palo Alto Networks Shares Drop After Q3 Results, In-Line Guidance: The Details</a>
RBT Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Rubicon Technologies shares are down 36% after hours at 12 cents at the time of publication Monday.
Image: Shutterstock

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Rubicon Technologies Stock Tanks After Q1 Results: Here's Why

On Monday, May 20th, Bloomberg ETF analyst Eric Balchunas posted on X, raising his chances of a spot ETF approval from 25% to 75%. Within an hour, the post received over one million views. Balchunas is regarded as one of the most trusted sources in the crypto ETF space after playing a role in news coverage of the spot Bitcoin ETFs, which were released in January 2024. The update from Balchunas made waves in the crypto markets, causing the price of ETH to skyrocket over 10% within minutes.
Don't Miss:
<ul>
<li>1 in 4 Americans own a share of Bitcoin according to NASDAQ,<a href="https://www.benzinga.com/money/kraken"> how much would $10 get you today</a>?</li>
<li>If you invested $1000 in DOGE when Elon Musk first tweeted about it in 2019,<a href="https://www.benzinga.com/money/etoro-doge"> here&#8217;s how much you&#8217;d have today</a>.</li>
</ul>
Balchunas said that he is "hearing chatter this afternoon that SEC could be doing a 180 on" <a href="https://www.benzinga.com/money/what-is-ethereum-etf">spot Ethereum ETF</a> applications. The SEC has been largely quiet about Ethereum ETFs over the past several months, mainly looking to make a decision on whether ETH should be classified as security or a commodity. Because the SEC has been so quiet, many have taken it as negative for the chances of a spot ETH ETF approval. However, with a final deadline for multiple ETFs on May 23rd and 24th, there is seemingly pressure on the SEC to make decisions before the deadline.&nbsp;
To add more context to <a href="https://x.com/ericbalchunas/status/1792636523050906102?s=46">Balchunas' post</a>, he alluded to <a href="https://x.com/NateGeraci/status/1792330334169903568">another tweet from Nate Geraci</a>, a crypto ETF expert. Geraci's tweet noted that the "SEC must approve both the 19b-4s (exchange rule changes) &amp; S-1s (registration statements) for ETFs to launch. Technically possible for SEC to approve 19b-4s &amp; then slow play S-1s (esp given reported lack of engagement here)."
Essentially, the SEC could give a partial greenlight to the ETFs, giving them time to take a much closer look at S-1s, which would allow them to better vet the applications to see how compliant they would be. This seems to make the most sense, as the SEC has been in the midst of a large debate surrounding the ETFs that could take more time than previously thought to conclude.&nbsp;
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire,<a href="https://www.benzinga.com/money/adv-6eth"> here&#8217;s why it can be true</a>.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Another point of context is that ARK and 21Shares recently amended their application to <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38842331/ark-21shares-amends-spot-eth-etf-filing-cathie-wood-on-ethereum-etf-approvals">remove staking</a>. The move was likely made in an attempt to make their application more appealing to the SEC. While removing staking is obviously a negative for the ETF, it could play a role in increasing the odds of approval.&nbsp;
The buzz that Balchnas is hearing must be significant. Less than a week ago, he posted saying that he believes the odds of a spot ETH ETF are "<a href="https://x.com/EricBalchunas/status/1790384182717190481">slim to none</a>", but has since raised his prediction to 75%.&nbsp;
The path of the Ethereum ETFs does share some similarities with the approval of the <a href="https://www.benzinga.com/money/best-spot-bitcoin-etfs">spot Bitcoin ETFs</a>, as the SEC was largely quiet in the weeks and days leading up to the approval. While the situations are largely different, it does show that it is entirely possible that the SEC could approve spot ETH ETFs later this week despite relative silence from the SEC.&nbsp;
A spot Ethereum ETF would be a huge milestone for crypto adoption, allowing a whole cast of new investors to access the token and could potentially send ETH to new ATHs above the $4,900 level.&nbsp;&nbsp;
Read Next:
<ul>
<li>How much Bitcoin did Michael Saylor says you need to become a millionaire?<a href="https://www.benzinga.com/money/1milbitcoin-adv"> The number may shock you.</a></li>
<li>Bitcoin has jumped another 45% already this year &#8211;<a href="https://www.benzinga.com/money/kraken"> how much would you need to get started today?</a></li>
</ul>

Bloomberg Analyst Raises Spot Ethereum ETF Approval Odds to 75%: Will Approvals Happen This Week?

Federal Reserve

'FDIC Chair Gruenberg Tells Staff He Plans To Resign Once Successor Confirmed, Announcement Comes After Senate Banking Committee Chairman Called For New Leadership' - WSJ

WIIM

Rubicon Technologies shares are trading lower after the company reported a year-over-year decrease in Q1 sales results.

Larimar Therapeutics, Inc. - Common Stock

LRMR

Larimar Therapeutics shares are trading higher after the company announced that the FDA removed the partial clinical hold previously placed on the nomlabofusp clinical program.

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is in the spotlight this week as it prepares to report its first-quarter 2024 earnings on Wednesday. This announcement marks the first anniversary of its remarkable first-quarter 2023 earnings, which ignited an AI-driven rally <a href="https://www.benzinga.com/topic/semiconductors">in the chipmaker industry.</a>
The consensus among Wall Street analysts predicts Nvidia to report an earnings per share (EPS) of $5.60, more than five times the EPS from the same quarter last year. Revenue projections are similarly optimistic, with expectations set at $24.59 billion, over three times the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38924492/nvidia-set-for-steady-gains-with-software-centric-shift-and-blackwell-transition-an">revenue in Q1 2023.</a>
As Bank of America noted in a recent note, since the &#8216;blowout&#8217; Q1 2023, Nvidia&#8217;s market capitalization has surged by $1.5 trillion. The company&#8217;s last twelve months (LTM) EPS has skyrocketed by 617% year-over-year, and mentions of AI during corporate earnings calls have increased by 186%.
Yet, the AI-driven gains initiated by Nvidia are now expected to extend beyond the chipmaking sector to encompass power, commodities, and utilities, according to Bank of America&#8217;s analysts. 
&#8216;It&#8217;s not just about Nvidia anymore,&#8217; Ohsung Kwon, CFA, equity and quant strategist at Bank of America, stated. 
Nvidia has driven 37% of S&amp;P earnings growth over the LTM and 11% of returns. However, it is projected to contribute only 9% to earnings growth over the next 12 months.
Nvidia&#8217;s 1-Year Share Price Performance vs. Semiconductor Industry – iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20151721/image-82-1024x495.png" alt="" class="wp-image-346475" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20151721/image-82-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20151721/image-82-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20151721/image-82-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20151721/image-82-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20151721/image-82.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read also: <a href="https://www.benzinga.com/news/large-cap/24/05/38770955/ai-revolution-on-the-doorstep-the-tidal-wave-is-well-underway-analyst-says">AI Revolution &#8216;On the Doorstep:&#8217; The &#8216;Tidal Wave&#8217; Is Well Underway, Analyst Says</a>
<h3 class="wp-block-heading">Demand From AI Data Centers To Fuel Gains In Power Players</h3>
McKinsey projects a 10-12% annual increase in global data center power demand between 2020 and 2030.
Bank of America analyst Andrew Obin believes that &#8220;AI adoption adds potential upside to these forecasts.&#8221;
The investment bank foresees that various sectors will benefit from AI-centric demand growth, including power producers with merchant capacity, grid equipment providers, pipeline companies, and grid technology providers. Commodities such as copper and uranium are also expected to benefit.
Amid this backdrop, Vertiv Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>), a manufacturer of power and cooling equipment for data centers, has significantly outperformed Nvidia by 300% since Nvidia&#8217;s spectacular AI quarter last year.
Vertiv&#8217;s portfolio, which includes electrical and thermal equipment for data centers, accounts for approximately 75% of its revenue. Projections suggest that global data center demand could reach 126-152 GW by 2030, driving around 250 TWh of new electricity demand, equating to 8% of total US power demand by 2030. Data centers operate a highly power-intensive model, necessitating constant power access and reliable connectivity.
Chart: Power Player Vertiv Holdings Sharply Outperformed Nvidia In The Last Year
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152049/image-83-1024x495.png" alt="" class="wp-image-346484" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152049/image-83-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152049/image-83-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152049/image-83-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152049/image-83-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152049/image-83.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Utilities To Benefit From AI-Driven Power Demand</h3>
Paul Cole, a research analyst at Bank of America, commented, &#8220;Investors in utilities are likely too cautious in estimating the incremental margin opportunities presented by data center growth.&#8221;
He identified Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), Public Service Enterprise Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>), Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>), NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), and Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) as clear beneficiaries of the data center proliferation and the associated increase in power needs.
Chart: Year-To-Date Performance Of $CEG, $VST, $NEE and $D
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152516/image-84-1024x495.png" alt="" class="wp-image-346489" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152516/image-84-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152516/image-84-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152516/image-84-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152516/image-84-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/20152516/image-84.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
 Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38746512/utilities-notch-7th-straight-session-of-gains-potential-derivative-play-to-the-ai-b">Utilities Notch 7th Straight Session Of Gains: &#8216;Potential Derivative Play To The AI Boom&#8217;</a>
Image generated using artificial intelligence via Midjourney.

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