Latest news for Infinitii Ai (OTC:CDTAF) Stock

Infinitii Ai Inc provides environmental monitoring to water infrastructure utilities in the U.S. and Canada. The group has developed AI-driven predictive analytics software for Smart City and Smart Industry infrastructure operations that rely on time-series data. The software performs real-time analysis, checks flow monitoring status, sets alarms through a single interface, accepts all types of data from any source, and offers predictive and prescriptive machine learning analytics. The company serves its customers through a trusted partner network that includes engineering and IT services companies like AECOM, Core & Main, Kerr Wood Leidal, K2 Geospatial, and others. The company has one segment, comprised of data services. It derives the majority of its revenue from Canada.

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Infinitii Ai Inc

Italy&#8217;s largest bank, Intesa Sanpaolo, dipped its toes in the cryptocurrency market, conducting its first Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purchase worth $1 million, according to a report on Tuesday.
What Happened: Intesa Sanpaolo purchased 11 Bitcoins&nbsp;in what CEO Carlo Messina&nbsp;<a href="https://www.reuters.com/business/finance/italys-intesa-buys-1-mln-euros-bitcoin-first-proprietary-trade-2025-01-14/#:~:text=An%20internal%20memo%20seen%20by,through%202028%20for%20company%20investments.">described </a>as &#8220;a test,&#8221; Reuters reported, citing an internal memo.
Speaking to reporters at an event, Messina said that the lender had &#8220;very limited&#8221; room to invest in cryptocurrencies and that the latest trial was conducted to prepare for potential requests for such investments by &#8220;sophisticated&#8221; clients.
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&#8220;We tested how to handle any potential requests from clients, but there will anyway be very tight limits and clients will need to prove they understand potential risks,&#8221; Massino said.
He also advised individual investors to avoid cryptocurrency investments, stating, &#8220;I myself don&#8217;t invest in Bitcoin.&#8221; 
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/markets/cryptocurrency/25/01/42936962/shytoshi-kusama-outlines-treat-tokens-usefulness-ahead-of-launch-optimistic-whales-buy-up-shiba-inu">Shytoshi Kusama Outlines TREAT Token&#8217;s Usefulness Ahead Of Launch, Optimistic Whales Buy Up Shiba Inu</a>
With total assets of €949.18 million ($977.40 million), Intesa Sanpaolo is Italy&#8217;s largest bank. The company didn&#8217;t immediately return Benzinga&#8217;s request for comment.
Why It Matters: This development comes in the wake of Italy&#8217;s recent change in stance towards cryptocurrencies. 
Last month, Italian politicians from the ruling coalition <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42430918/italy-backpedals-on-controversial-tax-hike-on-crypto-capital-gains-following-industry-opposition-no-more-prejudices">announced a significant reduction</a> in the proposed tax hike on cryptocurrency capital gains following industry criticism and internal disagreements.
The Treasury had initially planned to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41367903/italy-eyes-drastic-tax-hike-on-bitcoin-profits-42-looming-in-2025-shocking-countrys-crypto" target="_blank" rel="noreferrer noopener">increase the tax</a>&nbsp;on cryptocurrency capital gains from 26% to 42% under the 2025 budget. However, due to industry protests and internal debates, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42430918/italy-backpedals-on-controversial-tax-hike-on-crypto-capital-gains-following-industry-opposition-no-more-prejudices">rate was reduced</a> to 33%.
Price Action: At the time of writing, Bitcoin was exchanging hands at $97,052.07, up 2.82% 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..">data from Benzinga Pro</a>.
Image Courtesy: Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935597/mark-cuban-advocates-bitcoin-over-gold-during-economic-turmoil-i-think-it-has-more-value-than-gold">Mark Cuban Advocates Bitcoin Over Gold During Economic Turmoil: &#8216;I Think It Has More Value Than Gold&#8217;</a></li>
</ul>
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

Government

Regulations

$BTC

Italy's Largest Bank Leaps Into Bitcoin Trading With $1 Million 'Test' Investment But CEO Says He Doesn't Invest In BTC Personally

<ul>
<li>Portugal's 4th largest bank expands Nasdaq partnership, adopting Calypso's Front Office and Risk platform</li>
<li>Fully integrated system will be deployed in the cloud to enhance flexibility and scalability of novobanco's treasury infrastructure</li>
</ul>

NDAQ

Novobanco Expands Nasdaq Calypso Partnership To Streamline Capital Market Operations

Macro Economic Events

Econ #s

Economics

U.K. Producer Price Index Input (MoM) For December 0.1% Vs. 0.2% Est.; 0.0% Prior

U.K. Consumer Prices Index Including Owner Occupiers' Housing Costs (YoY) 3.5% Vs. 3.5% Prior

U.K. Consumer Price Index (YoY) For December 2.5% Vs. 2.6% Est.; 2.6% Prior

U.K. Consumer Price Index (MoM) For December 0.3% Vs. 0.4% Est.; 0.1% Prior

U.S. semiconductor trade groups have mounted strong opposition to the President Joe Biden administration&#8217;s new chip export restrictions, warning of potential market share losses to global competitors in a private letter to Biden.
What Happened: The letter Tuesday, signed by six trade organizations including the Semiconductor Industry Association and SEMI, criticized the administration&#8217;s approach to implementing stricter controls on advanced computing chips and high-bandwidth memory technology, particularly regarding sales to China, Reuters reported.
The pushback comes as the Commerce Department unveiled new regulations Monday creating a three-tier system for global chip exports. The rules require most nations to obtain licenses for building AI data centers using U.S. chips, while providing unrestricted <a href="https://www.benzinga.com/markets/equities/25/01/42967114/what-does-joe-bidens-last-minute-chip-export-restrictions-mean-for-nvidia-that-has-jensen-huang-led-ai-giant-up-in-arms">access to 18 allied countries</a>.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which controls approximately 90% of the AI chip market, saw its shares drop 3% following the announcement. Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) fell 2% in <a href="https://www.benzinga.com/markets/25/01/42941939/nvidia-down-3-amd-falls-2-after-white-house-imposes-new-ai-chip-export-restrictions">response to the restrictions</a>.
"This rule threatens to derail innovation and economic growth worldwide," said Nvidia&#8217;s VP of government affairs, Ned Finkle, in a statement on Monday.
The pending regulations could particularly impact companies like Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), potentially reversing earlier interpretations that had allowed hundreds of millions in additional revenue from Chinese memory chip makers, according to the report.
&#8220;We understand that this additional rule will even more strictly control high bandwidth memory, without consideration of how such changes may impact U.S. companies or cede market share to global competitors,&#8221; the letter said.
See Also: <a href="https://www.benzinga.com/markets/asia/25/01/42993441/south-korean-president-yoon-suk-yeol-arrested-kospi-edges-higher-despite-political-upheaval-won-stable">South Korean President Yoon Suk Yeol Arrested — KOSPI Edges Higher Despite Political Upheaval, Won Stable</a>
Why It Matters: Oracle Corp. Executive Vice President Ken Glueck warned the restrictions could reduce the international chip market for U.S. companies by up to 80%, significantly <a href="https://www.benzinga.com/markets/25/01/42941939/nvidia-down-3-amd-falls-2-after-white-house-imposes-new-ai-chip-export-restrictions">affecting the domestic cloud industry</a>.
The rules arrive amid escalating U.S.-China tensions over semiconductor technology. In December, the U.S. blacklisted 140 Chinese entities and restricted memory chip exports, prompting Beijing to implement retaliatory export <a href="https://www.benzinga.com/government/regulations/24/12/42265847/biden-targets-china-with-new-chip-restrictions-nvidia-slides">controls on critical minerals</a>.
The regulations are set to take effect <a href="https://www.benzinga.com/markets/equities/25/01/42967114/what-does-joe-bidens-last-minute-chip-export-restrictions-mean-for-nvidia-that-has-jensen-huang-led-ai-giant-up-in-arms">after a 120-day comment period</a>, extending into the incoming President-elect Donald Trump&#8216;s administration, raising questions about their long-term implementation and effectiveness in the rapidly evolving AI chip market.
Read Next: 
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<li><a href="https://www.benzinga.com/news/25/01/42993713/trump-2-0-could-be-thwarted-by-inflation-mohamed-el-erian-notes-ahead-of-cpi-data-release">Trump 2.0 Could Be Thwarted By Inflation, Mohamed El-Erian Notes Ahead Of CPI Data Release</a></li>
</ul>
Image Via Shuttesrock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

LRCX

NVDA

After Nvidia, Semiconductor Trade Groups Oppose  Biden's Chip Export Measures: Rules Threaten To 'Derail Innovation And Economic Growth Worldwide'

IPOs

PLMKU

Reported Earlier, Plum Acquisition Corp. IV Prices $150M Initial Public Offering Of 15M Units At $10/Unit

Gene Munster, managing partner at Deepwater Asset Management, has said that Mark Zuckerberg&#8217;s leadership approach at Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has changed since he started learning jiu-jitsu.
What Happened: On Tuesday, Munster pointed out that <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42986509/meta-platforms-announces-performance-based-job-cuts-whats-going-on">Meta&#8217;s 5% workforce reduction</a> is a reflection of this strategic shift.
This follows previous reductions of 5% in 2024, 11% in 2023, and 13% in 2022. Despite these cuts, Zuckerberg plans to refill the positions, ensuring that severance costs do not impact Meta&#8217;s operating margin, he stated.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/25/01/42906243/netflixs-wwe-monday-night-raw-premiere-more-than-doubles-2024-usa-network-audience">Netflix&#8217;s &#8216;WWE Monday Night Raw&#8217; Premiere More Than Doubles 2024 USA Network Audience</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I believe Zuckerberg&#39;s devotion to jiu jitsu has reshaped how he thinks about running <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a>. Today&#39;s 5% workforce cuts are the latest example. This follows cuts of 5% in 2024, 11% in 2023, and 13% in 2022. If you&#39;re curious, he began his training in 2020. Since he is planning…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1879277095207211046?ref_src=twsrc%5Etfw">January 14, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: At its core, Jiu Jitsu teaches principles of gentleness, mutual welfare, and maximum efficiency, according to Zenyo Jiu Jitsu, a website about the martial art. In 2023, Zuckerberg labeled the year as the company&#8217;s &#8220;year of efficiency&#8221; and announced plans to cut 10,000 jobs.
At the time, he said, &#8220;Change is never easy, but I know we'll get through this and come out an even stronger company that can build better products faster&nbsp;and enable you to do the best work of your careers.&#8221;
In a <a href="https://www.benzinga.com/news/23/06/32807615/how-mark-zuckerberg-harnesses-jiu-jitsu-to-run-meta-better-your-ability-to-keep-doing-interesting-th">June 2023 interview</a> with Lex Fridman, Zuckerberg underscored the importance of embracing embarrassment as a catalyst for growth.
He explained that his commitment to Jiu-Jitsu embodied this philosophy, as the physically challenging discipline humbled him during his early stages, teaching him valuable lessons through moments of being "kicked" and feeling "stupid."
Meta&#8217;s workforce reductions are part of a <a href="https://www.benzinga.com/25/01/42865109/sony-co-founder-akio-morita-once-said-that-management-should-treat-companies-like-families-not-commodities-recession-comes-management-fire-people-but-stays-to-keep-its-profit">broader trend in the tech</a> industry. In December 2024, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) announced a 10% <a href="https://www.benzinga.com/tech/24/12/42635813/google-announces-major-layoffs-as-pichai-stresses-efficiency">reduction in top management</a> roles to streamline operations.
Similarly, Elon Musk&#8217;s X, formerly Twitter, also reportedly faced <a href="https://www.benzinga.com/news/24/11/41698648/elon-musks-x-reportedly-hit-with-new-wave-of-layoffs-engineering-department-faces-major-cuts-amid-un">significant layoffs</a> in November 2024, particularly affecting the engineering department.
Meta is set to announce its <a href="https://www.benzinga.com/general/social-media/25/01/42991174/meta-platforms-analyst-expects-strong-momentum-in-q4-to-continue-in-2025">fourth-quarter earnings</a> on Jan. 29. In October last year, Meta reported <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">third-quarter revenue</a> of $40.59 billion, surpassing analyst expectations of $40.29 billion.
Price Action: Meta&#8217;s stock dropped 2.31% on Tuesday, but saw a 0.21% gain in after-hours trading, closing at $592.52, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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<li><a href="https://www.benzinga.com/news/25/01/42900737/stephen-king-slams-elon-musks-h-1b-visa-stance-musk-thinks-smart-immigrants-can-stay-the-rest-of-you-washing-dishes-get-lost">Stephen King Slams Elon Musk&#8217;s H-1B Visa Stance: ‘Musk Thinks Smart Immigrants Can Stay – The Rest of You Washing Dishes … Get Lost&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Tech

GOOG

GOOGL

Mark Zuckerberg's Jiu-Jitsu Training Has Transformed Meta's Leadership Strategy, Says Gene Munster

The units are expected to trade on The Nasdaq Capital Market ("Nasdaq") under the ticker symbol "RIBBU" beginning January 15, 2025. The Company expects the IPO to close on or about January 16, 2025, subject to customary closing conditions. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the rights are expected to be traded on Nasdaq under the symbols "RIBB" and "RIBBR," respectively.

RIBBU

Reported Earlier, Ribbon Acquisition Corp Prices $50M Initial Public Offering Of 5M Units At $10/Unit

The Notes will mature on March 15, 2030, and may be redeemed in whole or in part at the Company's option at any time prior to February 15, 2030, at par plus a "make-whole" premium plus accrued interest. The Notes will bear interest at a rate of 6.650% per year payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2025.

NCDL

Reported Earlier, Nuveen Churchill Prices $300M 6.650% Notes Offering With Semi-Annual Payments

Concrete Pumping Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBCP#NASDAQ">BBCP</a>) (the "Company") announced today that its Board of Directors has declared a special, one-time cash dividend of $1.00 per share of common stock (the "Special Dividend"). The Special Dividend will be paid on or about February 3, 2025, subject to the closing of the Company's previously announced offering of $425.0 million aggregate principal amount of senior secured second lien notes due 2032. Stockholders of record as of January 24, 2025 will be eligible to receive the Special Dividend. The aggregate amount of the payment to be made in connection with the Special Dividend is expected to be approximately $53 million.

BBCP

Reported Earlier, Concrete Pumping Announces $1.00/Share Special Dividend, Payable February 3, 2025

Calumet intends to use all of the net proceeds from the Offering to redeem a portion of the Issuers' outstanding 11.00% Senior Notes due 2026 (the "2026 Notes") on or before April 15, 2025 (the "Redemption"). The New Notes are a mirror issue to the Issuers' existing 9.75% Senior Notes due 2028, of which $325 million in aggregate principal amount was issued on June 27, 2023 (the "Original Notes"). The New Notes will have substantially identical terms as the Original Notes. However, the New Notes will be issued under a separate indenture and have different CUSIP numbers from the Original Notes.

CLMT

Reported Earlier, Calumet Launches $100M Offering Of 9.75% Senior Notes For Debt Refinancing

Under the terms of the joint venture, NWTN and W Motors will collaborate on research and development, manufacturing, and market expansion strategies, with a focus on mid luxury vehicles, security and enforcement vehicles as well as sustainable mobility solutions with an aim to localize manufacturing and assembly by leveraging W Motors's existing capabilities and infrastructure in the UAE.

NWTN

Reported Earlier, NWTN And W Motors  Form Joint Venture To Advance Mid-Luxury And Sustainable Vehicle Solutions

LICY

Reported Earlier, Li-Cycle Announces Proposed U.S. Offering Of Common Shares And Warrants

MGNI

Reported Earlier, Magnite Expands Programmatic Advertising Partnership With Samsung Ads In Southeast Asia

Strategic partnership to streamline payment solutions and elevate traveller experience, introducing over 40 new payment methods across 8 key Asian markets

BKNG

Reported Earlier, Booking.com Partners With Antom To Introduce Over 40 Local Payment Options In 8 Key Asian Markets

Launch of 'Beyond Tennis': A new generative AI tennis league with AI players and data-driven tournaments

INFY

Reported Earlier, Infosys And Tennis Australia Redefine Tennis Engagement With New AI-Powered Features

California-based EV startup Rivian Automotive said on Tuesday that the company has deployed vehicles to support relief activities in the Los Angeles area <a href="https://www.benzinga.com/news/25/01/42935570/newsom-la-wildfires-could-become-worst-natural-disaster-in-us-history">battling wildfires.</a>
What Happened: Rivian said that it deployed vehicles to support the World Central Kitchen, the Labelle Foundation, OpenClosit, SolarPunks, and more to transport relief supplies and support emergency response.
The company is also engaging with first responders on how it can assist further, the company said. 
To help its EV owners evacuate amid the fires, the company made no-cost DC fast charging available to Rivian vehicles at its own Rivian Adventure Network sites within 150 miles of Los Angeles. 
The company also offered its Rivian South Coast Theater in Laguna Beach as a place to rest or charge devices for people evacuating their homes.
Why It Matters: California has been battling multiple wildfires over the last few days. According to the California Department of Forestry and Fire Protection, the current incidents have burned over 40,000 acres with over 12,300 structures destroyed. About 24 people died in the fires, the department said. 
Other carmakers like Tesla and Ford also contributed to relief efforts. 
Earlier this week, Tesla CEO Elon Musk <a href="https://www.benzinga.com/general/space/25/01/42939786/despite-elon-musks-feud-with-gavin-newsom-tesla-rolls-out-support-for-california-amid-wildfires-with-cybertrucks-starlink-and-megapack-chargers">warned customers</a> awaiting their Cybertruck deliveries in Los Angeles that their orders might be delayed as the company used the trucks to provide power to Starlink internet terminals in areas of LA that lost connectivity. The company also deployed multiple megapack chargers to relieve congestion&nbsp;<a href="https://www.benzinga.com/tech/25/01/42906316/tesla-says-fsd-strikeouts-will-be-forgiven-in-california-to-help-evacuation-efforts-amidst-wildfires" target="_blank" rel="noreferrer noopener">during evacuations</a>, provide power to houses, and aid first responder efforts, it said.
Dearborn-based Ford and its philanthropic arm called Ford Philanthropy, meanwhile, announced two new grants to support the Los Angeles Fire Department Foundation and the California Community Foundation's Wildfire Recovery Fund and cater to urgent relief needs. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data" target="_blank" rel="noreferrer noopener">Cybertruck Success Comes At A Cost: Tesla Sells Nearly 39,000 Units In 2024, But Luxury Model S And X Sales Take A Hit In US, Data Shows</a></li>
</ul>
Photo courtesy: Shutterstock

Rivian Joins Ford, Tesla In Supporting Relief Efforts Amid California Wildfires

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