Latest news for BCE (OTC:BCEFF) Stock

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with over 10 million customers constituting about 30% of the market. It is also the incumbent local exchange carrier, or ILEC—the legacy telephone provider—throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. Additionally, BCE has a media segment, which holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz.

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Stocks That Fell Through 52-Week Lows Wednesday

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Stocks That Managed to Breach 52-Week Lows Friday

BCE Inc

About a billion Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) tokens were removed from circulation on Thursday, applying further deflationary pressure on the popular dog-themed cryptocurrency.
What Happened:&nbsp;Kaal Dhairya, a key figure in the ecosystem, took to X to announce the massive burning event to celebrate upgrades made to ShibTorch, Shiba Inu&#8217;s community-driven burn portal.
&#8220;To celebrate the progress team is making the deployer has burnt pending 1B SHIB, enjoy,&#8221; Dhairya said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">To celebrate the progress team is making the deployer has burnt pending 1B SHIB, enjoy <a href="https://t.co/3fbkLUDjQp">https://t.co/3fbkLUDjQp</a> <a href="https://t.co/YsdwuATIyz">https://t.co/YsdwuATIyz</a>
&mdash; Kaal (@kaaldhairya) <a href="https://twitter.com/kaaldhairya/status/1885068301505569195?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Coin burning involves purposely sending a cryptocurrency to an unusable wallet address to remove it from circulation. This is done to generate scarcity and gradually boost the market value of the token in the long term.
Due to the massive incineration, the burn rate shot up to 43325.59% in the past 24 hours, <a href="https://www.shibburn.com/">according </a>to Shiba Inu&#8217;s official burn tracker. As of this writing, nearly 410.744 trillion SHIB tokens have gone up in smoke.
ShibTorch was launched in August last year on Shibarium, Shiba Inu&#8217;s Layer-2 blockchain, allowing users to actively participate in burning tokens. Note that a portion of transaction fees paid on Shibarium are set aside and burned.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/43325381/elon-musks-tesla-racks-up-600-million-paper-gains-on-bitcoin-in-q4">Elon Musk&#8217;s Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule</a>
Why It Matters:&nbsp;The mega-burning event comes on the heels of a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43261673/shytoshi-kusamas-biggest-announcement-ever-tease-triggers-rally-in-shiba-inu-ecosystem-tokens">big tease</a> by Shytoshi Kusama, Shiba Inu&#8217;s lead ambassador. Earlier this week, they hinted at the &#8220;biggest announcement&#8221; ever related to the blockchain ecosystem.
Kusama continued to pique the interest of the community, announcing that an <a href="https://www.benzinga.com/25/01/43293760/shiba-inus-shytoshi-kusama-teases-extremely-powerful-partnership-for-ecosystemcoin-themed-on-mysterious-personality-rallies-25">&#8220;extremely powerful partnership&#8221;</a> was the works.
Meanwhile, SHIB&#8217;s daily active addresses rose by 1.15% in the last 24 hours, although large transactions involving whales dipped significantly, <a href="https://app.intotheblock.com/?end_offset=20">according</a> to data from IntoTheBlock. 
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001859, up 0.41% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Image via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/43326463/former-senator-bob-menendez-who-said-bitcoin-will-open-doors-of-corruption-in-el-salvador-gets-11-year-jail-term-for-accepting-bribes">Former Senator Bob Menendez Who Said &#8216;Bitcoin Will Open Doors Of Corruption In El Salvador&#8217; Gets 11-Year Jail Term For Accepting Bribes</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$SHIB

Shiba Inu's Burn Rate Explodes 43325% As A Billion SHIB Tokens Kicked Out Of Circulation

SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) is reportedly in discussions to spearhead a new funding round for OpenAI, potentially raising up to $40 billion.
What Happened: This investment would value the ChatGPT-maker at $300 billion, marking a record-setting funding round for a private entity, reported Reuters, citing sources.
As per the report, SoftBank assessed OpenAI&#8217;s value at $260 billion before the funding round, a notable increase <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">from $157 billion just months ago</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/25/01/43295689/tesla-gears-up-for-q4-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-analysts" target="_blank" rel="noreferrer noopener">Tesla Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts</a>
Earlier on Thursday, the Wall Street Journal also <a href="https://www.wsj.com/tech/ai/openaiin-talks-for-huge-investment-round-valuing-it-up-to-300-billion-2a2d4327">reported</a> that OpenAI could be valued at around $340 billion with this funding round.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Previously, it was reported that <a href="https://www.benzinga.com/25/01/43327823/softbank-eyes-historic-25-billion-investment-in-openai-poised-to-dethrone-microsoft-as-chatgpt-parents-biggest-investor">SoftBank might invest</a> $15 billion to $25 billion directly into OpenAI. This investment would represent a significant commitment for SoftBank and its CEO, Masayoshi Son, who has approximately $30 billion in cash reserves.
It could make it the largest stakeholder in OpenAI, surpassing Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has invested nearly $14 billion.
The move comes as DeepSeek, a Chinese startup, has said it developed its cost-effective R1 model <a href="https://www.benzinga.com/tech/25/01/43327016/microsoft-ceo-satya-nadella-accepts-deepseek-ai-has-some-real-innovations-but-wont-say-if-they-mark-a-turning-point-for-ai-cost-reduction">in just two months</a>, investing $5.6 million and using lower-end Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
<a href="https://www.benzinga.com/25/01/43296041/openai-alleges-deepseek-used-proprietary-models-without-permission-as-microsoft-investigates-ai-security-risks">OpenAI has accused DeepSeek</a> of using its proprietary models without authorization.
Photo by NP27 on Shutterstock.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple's iPad Turns 15 Today: Here's A Throwback To When Steve Jobs Explained Called It The ‘Third Category' After Phones And Notebooks</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

Media

MSFT

NVDA

SFTBF

SFTBY

SoftBank May Lead OpenAI's $40 Billion Funding Round At A $300 Billion Valuation Despite DeepSeek Disruption: Report

Despite the slower-than-expected economic growth in the US for the final quarter of 2024, the stock market ended in the green on Thursday. The S&amp;P 500 and Nasdaq indices witnessed a rise of 0.5% and 0.4% respectively, as the GDP growth rate <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43336153/us-economy-grows-below-q4-estimates-as-consumer-spending-hits-7-quarter-high">fell short of the forecasted 2.6% expansion</a>. The tech-heavy Nasdaq ended the day 0.25% higher at 19,681.75.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)
Apple&#8217;s stock dipped by 0.74%, closing at $237.59. However, the shares were seen trading nearly 3% higher in the after-hours session. The intraday high and low were $240.79 and $237.21, respectively, with a 52-week range of $260.09 to $164.08. The tech giant reported a successful first quarter, with <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">revenue of $124.3 billion</a> and adjusted earnings of $2.40 per share, both surpassing analyst estimates. 
Intel Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)
Intel&#8217;s shares rose by 1.32%, closing at $20.01. The intraday high and low were $20.10 and $19.43, respectively, with a 52-week range of $46.63 to $18.51. Investors were closely watching the company&#8217;s CEO search and potential segment spin-offs following its fourth-quarter financial report. The company <a href="https://www.benzinga.com/news/earnings/25/01/43354712/intel-stock-climbs-on-better-than-expected-q4-report-details">reported earnings per share</a> of 13 cents which beat the consensus estimate of 12 cents.
Walgreens Boots Alliance Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>)
Walgreens&#8217; stock climbed by 1.87%, closing at $11.46. The intraday high and low were $11.60 and $11.25, respectively, with a 52-week range of $23.77 to $8.08. The company announced the <a href="https://www.benzinga.com/trading-ideas/dividends/25/01/43357768/walgreens-boots-alliance-shares-slide-as-board-suspends-dividend">suspension of its quarterly dividend</a> as part of a longer-term turnaround strategy. 
United Parcel Service Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>)
UPS shares plummeted by 14.11%, closing at $114.9. The intraday high and low were $117.98 and $109.62, respectively, with a 52-week range of $158.95 to $109.62. The company reported a YoY <a href="https://www.benzinga.com/news/earnings/25/01/43335015/ups-q4-earnings-major-customer-volume-cut-raises-jitters-stock-tanks">consolidated revenue growth</a> of 1.5% in the fourth quarter, missing the consensus. 
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock rose by 2.87%, closing at $400.28. The intraday high and low were $412.50 and $384.41, respectively, with a 52-week range of $488.54 to $138.80. CEO Elon Musk announced that the production of the new Model Y vehicle would result in <a href="https://www.benzinga.com/25/01/43328898/elon-musk-warns-teslas-new-model-y-will-result-in-several-weeks-of-lost-production-for-ev-giant-in-q1">several weeks of lost production</a> in the first quarter.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/01/43373930/ross-gerber-says-robotaxi-is-here-and-it-is-a-waymo-from-google-highlights-teslas-severe-hardware-limitations">Ross Gerber Says Robotaxi Is Here And It Is A Waymo From Google, Highlights Tesla&#8217;s &#8216;Severe Hardware Limitations&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Equities

AAPL

INTC

TSLA

Apple, Intel, Walgreens, UPS, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Leading cryptocurrencies lost their early gains on Thursday as investors awaited the release of crucial inflation data.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.03%</td>
<td>$104,582.18</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.95%</td>
<td>$3,267.77</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.05%</td>
<td>$0.3308</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin broke through $106,000 in the morning before falling back to the $104,000 region. Popular dog-themed meme coin Dogecoin witnessed a similar price pattern.
Ethereum, on the other hand, sustained its gains, rising nearly 4% in the last 24 hours.
About $86 million in short bets were wiped out in the last 24 hours, out of a total of $143 million in cryptocurrency liquidations.
Interestingly, traders placing short bets on Bitcoin rose against those gunning for price increases, according to the Long/Short Ratio.
That said, if Bitcoin reclaims its all-time high, more than $530 million in short positions will be liquidated.
"Extreme Greed" emotion dominated the market, according to the reading on the Crypto Fear &amp; Greed Index, sparking concerns of a further correction.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>DeXe (DEXE)</td>
<td>+30.15%</td>
<td>$20.80</td>
</tr>
<tr>
<td>JasmyCoin (JASMY)</td>
<td>+29.66%</td>
<td>$0.03193</td>
</tr>
<tr>
<td>Arweave (AR)</td>
<td>+27.44%</td>
<td>$16.46</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.57 trillion, growing by 1.92% in the last 24 hours.
Stocks closed in the green on Thursday. The Dow Jones Industrial Average added 136.83 points, or 0.38%, to close at 44,882.13. The S&amp;P 500 gained 0.53% to end at 6,071.17. The tech-focused Nasdaq Composite popped 0.25% to 19,681.75.
The uptick came as investors parsed the earnings of the "Magnificent 7" companies. Shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) rose 2.87% and 1.55%, respectively.
The focus now shifts to Friday's personal consumption expenditures index report, considered the Federal Reserve's preferred inflation gauge.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst and trader Ali Martinez emphasized the "critical importance" of $97,877 for Bitcoin, stating that a sizable amount of the apex cryptocurrency was scooped at this level.
"If it holds, the bull run could continue," Martinez predicted. "However, a break below $97,877 and $91,700 could put the entire bull market in jeopardy."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With a significant amount of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> accumulated at $97,877, this level holds critical importance. If it holds, the bull run could continue. However, a break below $97,877 and $91,700 could put the entire bull market in jeopardy.<a href="https://t.co/adz1GAiTFL">https://t.co/adz1GAiTFL</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1884901807228436492?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another influential cryptocurrency trader, Michaël van de Poppe, ruled out the possibility of Bitcoin having 30% corrections this cycle.
"The markets become larger, through which a lot more liquidity is added and Bitcoin becomes more &#8216;boring&#8217;. Just a gradual upward pace," the trader noted.
Van De Poppe forecast that a Bitcoin peak could come either in the fourth quarter of 2025 or early 2027.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I don&#39;t think we&#39;ll have many 30% corrections on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> during this cycle. The markets become larger, through which a lot more liquidity is added and Bitcoin becomes more &#39;boring&#39;. Just a gradual upwards pace. Either Bitcoin peaks in Q4 2025 or somewhere beginning 2027.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1885005301436531134?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Avi Rozen on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32811591/winklevoss-twins-say-elizabeth-warren-and-gary-genslers-war-on-crypto-will-cost-democrats-">Winklevoss Twins Say Elizabeth Warren And Gary Gensler&#8217;s War On Crypto &#8216;Will Cost Democrats 2024 Election&#8217;</a></li>
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$BTC

$DOGE

$ETH

Bitcoin, Dogecoin Trade Flat, Ethereum Rises Ahead Of Fed's Preferred Inflation Gauge Release: Will Bitcoin Peak In Early 2027?

On Thursday, Cathie Wood-led Ark Invest made significant trades involving Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
The Palantir Trade
Ark Invest&#8217;s decision to sell Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) shares on Thursday comes amid a backdrop of competitive pressures in the AI space. 
Recently, Palantir has <a href="https://www.benzinga.com/25/01/43234047/palantir-stock-is-falling-monday-whats-going-on">faced challenges</a> from Chinese startup DeepSeek, which has introduced a high-performance AI computing solution at a lower cost. This development has caused some concern among investors, leading to fluctuations in Palantir&#8217;s stock price.
Ark Invest executed a sale of 127,969 Palantir shares worth $10.4 million through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The stock closed at $81.22 on Thursday, January 30, marking a 1.83% increase from the previous day.
Notably, Ark has been on a Palantir share-selling spree. In early January, the firm had <a href="https://www.benzinga.com/25/01/42835519/cathie-woods-monday-moves-dumps-15m-worth-of-hot-stock-palantir-loads-up-amazon-com">sold $14.93 million worth</a> of the Alex Karp-led technology company&#8217;s shares.
Other Key Trades:
<ul>
<li>10X Genomics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>) &#8211; Ark Invest purchased 314,472 shares through the ARKK fund and 55,354 shares via the ARKG fund. </li>
<li>Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) &#8211; Sold 33,404 shares from the ARKK fund. </li>
<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) &#8211; Sold 57,238 shares from the ARKK fund.</li>
<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) &#8211; Acquired 8,304 shares through the ARKW fund.</li>
</ul>
Photo courtesy: Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Cathie Wood's Ark Invest Dumps Over $10 Million Worth Of Palantir Stock As AI Competition Heats Up

Prominent Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor Ross Gerber has highlighted significant challenges facing the electric vehicle maker&#8217;s Full Self-Driving system while praising competitor Waymo&#8216;s autonomous driving technology.
What Happened: Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, pointed to Waymo&#8217;s growing presence in the robotaxi space. 
&#8220;Waymo waymos everywhere. Driving flawlessly, with confidence. Robotaxi is here&#8230; and it&#8217;s called Waymo. Coming to your city soon,&#8221; he wrote on X on Thursday, referring to Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Waymo waymos everywhere. Driving flawlessly, with confidence. Robotaxi is here… and it's called Waymo. Coming to your city soon. <a href="https://twitter.com/search?q=%24goog&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$goog</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1885094196891312312?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The investment manager&#8217;s comments come amid mounting concerns about Tesla&#8217;s hardware capabilities. Responding to Tesla investor Sawyer Merritt, Gerber suggested that even Tesla&#8217;s Hardware 4 system won&#8217;t achieve full autonomy, citing &#8220;severe hardware limitations&#8221; compared to Waymo&#8217;s proven robotaxi technology.
These observations follow Tesla CEO Elon Musk&#8216;s recent acknowledgment that the company will need to upgrade Hardware 3 vehicles for FSD customers, a process Musk described as &#8220;painful and difficult.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At some point he will also admit HW4 isn't going to get to level 5 autonomy either. Tesla FSD has severe hardware limitations and waymo has proven exactly what you need to work as a robotaxi. <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://twitter.com/search?q=%24goog&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$goog</a> <a href="https://t.co/B71oNWCAYJ">https://t.co/B71oNWCAYJ</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1884986277277401151?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">Apple Q1 Earnings: Revenue Beat, EPS Beat, iPhone Sales Slip, Installed Base Climbs To All-Time High — &#8216;Our Best Quarter Ever&#8217;</a>
Why It Matters: The criticism extends beyond hardware concerns. Just a day after Musk celebrated Tesla&#8217;s achievement in &#8220;unsupervised&#8221; FSD operation, Gerber <a href="https://www.benzinga.com/markets/equities/25/01/43329365/a-day-after-elon-musk-hailed-teslas-unsupervised-fsd-ross-gerber-criticizes-ev-makers-autonomous-driving-system-doesnt-work-when-dust-or-ash-get-in-the-cameras">highlighted the practical limitations</a> of the system&#8217;s vision-only approach. &#8220;My Tesla FSD doesn&#8217;t work when dust or ash gets in the cameras. Vision-only systems have some big limitations. Also, the sun shines into them wrong,&#8221; Gerber noted on X.
These developments come at a crucial time for Tesla&#8217;s autonomous driving program. The company faces an ongoing National Highway Traffic Safety Administration investigation into 2.6 million FSD-equipped vehicles, while Musk maintains that FSD will <a href="https://www.benzinga.com/25/01/42894743/tesla-ceo-elon-musk-says-fsd-will-be-safer-than-human-drivers-in-q2-2025">exceed human driving safety</a> by the second quarter of 2025.
The debate intensified following Tesla&#8217;s <a href="https://www.benzinga.com/25/01/43327837/tesla-ceo-elon-musk-dismises-lidar-again-says-if-humans-drive-without-shooting-lasers-from-their-eyes-so-can-autonomous-cars">recent fourth-quarter earnings call</a>, where Musk defended the company&#8217;s camera-only strategy, arguing that humans drive without &#8220;shooting lasers out of their eyes,&#8221; in contrast to competitors&#8217; use of LiDAR technology.
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Ross Gerber Says Robotaxi Is Here And It Is A Waymo From Google, Highlights Tesla's 'Severe Hardware Limitations'

On Thursday, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook lauded DeepSeek, a China-based AI startup.
What Happened: During Apple's <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">first-quarter earnings</a> call, Cook was asked about the perception that Cupertino is benefiting from lower compute costs.
The analyst inquired about Cook&#8217;s perspective on the DeepSeek situation and whether any changes in the cost landscape could impact Apple's margins.
In response, the Apple CEO detailed the company's use of a hybrid AI model, where simple tasks are executed locally on devices, while complex operations are managed in the cloud through AI partnerships.
Currently, Apple collaborates with OpenAI, leveraging ChatGPT to assist iPhone users via a private cloud.
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"From a CapEx point of view, we&#8217;ve always taken a very prudent and deliberate approach to our expenditure and we continue to leverage a hybrid model, which I think continues to serve us well," Cook stated.
Despite <a href="https://www.benzinga.com/25/01/43296041/openai-alleges-deepseek-used-proprietary-models-without-permission-as-microsoft-investigates-ai-security-risks">OpenAI&#8217;s accusation of DeepSeek</a> using its models without permission, Cook acknowledged DeepSeek&#8217;s contributions.
"In general, I think innovation that drives efficiency is a good thing. And, you know, that's what you see in that model," he said on the earnings call.
Why It Matters: Apple has previously indicated that it is <a href="https://www.benzinga.com/media/24/11/42030331/heres-when-google-gemini-could-be-integrated-with-apple-intelligence">open to incorporating AI models</a> from other companies, like Google's Gemini or Anthropic's Claude, into future iPhones.
<a href="https://www.benzinga.com/tech/25/01/43296460/dan-ives-says-chinese-startup-deepseeks-6-million-ai-development-assertion-is-likely-a-fictional-story">DeepSeek claims to have developed</a> its cost-efficient R1 model in just two months with an investment of $5.6 million. While these claims have been scrutinized they have also raised questions about the need for large-scale GPU investments.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
On Wednesday, Meta CEO Mark Zuckerberg also <a href="https://www.benzinga.com/markets/25/01/43326499/mark-zuckerberg-says-chinas-deepseek-did-some-novel-things-were-still-digesting-but-meta-may-keep-pouring-billions-into-ai-infrastructure-anyway">acknowledged DeepSeek&#8217;s novel approaches</a>. However, he said it's too soon to determine how these developments will impact infrastructure usage and capital expenditures.
Microsoft CEO Satya Nadella also recognized DeepSeek&#8217;s AI innovations but remained cautious about their <a href="https://www.benzinga.com/tech/25/01/43327016/microsoft-ceo-satya-nadella-accepts-deepseek-ai-has-some-real-innovations-but-wont-say-if-they-mark-a-turning-point-for-ai-cost-reduction">potential to reduce AI costs</a>.
Apple&#8217;s earnings report revealed a fiscal first-quarter <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">revenue of $124.3 billion</a>, surpassing analyst estimates, despite a decline in iPhone sales.
Price Action: Apple's stock rose by 3.01% in after-hours trading, hitting $244.75. In regular trading on Thursday, it closed at $237.59, reflecting a 0.74% decline, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Image via Shutterstock
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tim Cook Praises China's DeepSeek For Driving Efficiency, Stresses Apple's 'Prudent And Deliberate' Approach Toward Capital Expenditure

Entrepreneur and TV personality Kevin O'Leary has thrown his support behind <a href="https://www.benzinga.com/news/25/01/43203763/trump-wants-to-get-rid-of-federal-emergency-agency-its-not-good-he-says-while-visiting-disasters-in-california-north-carolina">President Donald Trump's plan</a> to overhaul or even scrap the Federal Emergency Management Agency. O'Leary's endorsement comes amidst growing debate over the effectiveness of FEMA and Trump's proposal to shift disaster relief funding directly to state governments.
On social media and in a Fox News interview, O'Leary <a href="https://x.com/kevinolearytv/status/1883270303952077040">said</a> Trump's plan is "smart" and "efficient." He explained that giving state governors control of disaster money, along with clear rules to track spending, would make things more transparent. "Every taxpayer wants accountability, and this plan delivers," he wrote.
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<h2 class="wp-block-heading">Trump's FEMA Criticism and Vision for Reform</h2>
Trump has been very critical of FEMA, saying it's not doing a good job and has too much red tape. During a visit to hurricane-hit North Carolina last week, Trump stated bluntly, "FEMA has turned out to be a disaster. I think we recommend that FEMA go away. I think, frankly, that FEMA is not good." He suggested redirecting disaster relief funds straight to state governors, whom he views as the CEOs of their states, capable of managing resources more effectively.
An <a href="https://www.whitehouse.gov/presidential-actions/2025/01/council-to-assess-the-federal-emergency-management-agency/">executive order</a> issued by Trump lays out a plan for a 20-member council that will be led by the secretaries of Defense and Homeland Security to evaluate FEMA and propose reforms within 180 days. While the White House clarified the review is aimed at reform rather than immediate elimination, Trump's sharp criticism has sparked intense discussion about FEMA's future.
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<h2 class="wp-block-heading">A Legacy of Challenges for FEMA</h2>
FEMA, established in 1979 under President Jimmy Carter, was created to centralize disaster management after decades of inefficiency. More than 100 federal agencies were involved in disaster relief, creating a chaotic and uncoordinated system prior to FEMA. The agency's role has since been enshrined in federal law, making it impossible for a president to unilaterally abolish it without congressional approval.
Despite its vital role, FEMA has faced challenges over the years. Under President Ronald Reagan, conservative appointees prioritized downsizing, and during President George W. Bush's tenure, FEMA's status was reduced within the Department of Homeland Security, which many critics say undermined its effectiveness. Trump's proposal to overhaul FEMA is seen by some as part of a broader strategy to disrupt government agencies.
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<h2 class="wp-block-heading">Mixed Reactions to Trump's Proposal</h2>
Critics argue that dismantling FEMA would set disaster management back decades, returning to a fragmented system where states struggled to manage large-scale emergencies. During his visit to disaster-stricken areas in North Carolina and Southern California last week, Trump's remarks about FEMA drew fire for undermining emergency workers and ignoring the agency's critical role.
However, O'Leary and others see merit in Trump's plan. O'Leary highlighted the inefficiencies of FEMA's bureaucracy, pointing out that disaster funds often fail to promptly reach those in need. He praised Trump's vision of milestone-based funding, saying it ensures transparency and effective use of taxpayer money.
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If governors are given the responsibility and accountability, taxpayers will know exactly how their money is being used, he said. &#8220;Let&#8217;s check in every month or every quarter or every year and see exactly how that Capital was used, and I think every taxpayer, including me, listening to that, says, ‘I like that idea. I want some accountability, and I want to see executional skills in action.'&#8221;
<h2 class="wp-block-heading">A Turning Point for Disaster Management?</h2>
The debate over FEMA's future comes at a critical time. Natural disasters, <a href="https://www.benzinga.com/news/25/01/43095813/california-wildfires-to-cost-275-billion-critics-slam-gov-newsoms-101m-firefighting-cuts-amid-record-rainfall-in-2023">from hurricanes to wildfires</a>, have been increasing in frequency and intensity. Critics of Trump's approach warn that eliminating FEMA could leave states overwhelmed during large-scale crises. Supporters, however, see it as a chance to streamline disaster relief and reduce federal inefficiency.
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'Every Taxpayer Wants Accountability, And This Plan Delivers,' Says Kevin O'Leary, Backing Donald Trump's Plan To Possibly Scrap FEMA

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