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Eagle Point Credit Company Inc. 6.6875% Notes due 2028

AI chipmaker Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has reportedly added hundreds of staff in China this year.
What Happened: Nvidia will now end the year with nearly 4,000 employees, marking a significant increase from the 3,000 at the onset of the year, <a href="https://www.bloomberg.com/news/articles/2024-12-12/nvidia-steps-up-hiring-in-china-to-focus-on-ai-driven-cars">reported</a> Bloomberg, citing people familiar with the matter.
The increase in workforce in China is aimed at improving the company&#8217;s research capabilities and focus on new autonomous driving technologies, the report said.
The report said Nvidia has added 200 people to its team of researchers in Beijing working on autonomous driving. People have also been added to the company&#8217;s after-sales service and networking software development teams.
Nvidia has been developing driving automation and AI software for over a decade, the report noted, while adding that the efforts are yet to yield results.
Why It Matters: Overall, Nvidia had 29,600 employees in 36 countries around the world as of February. The company has been adding more to meet the <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">rising demand for its AI chips</a>. 
China has seen a surge in EV sales and companies over the past few years. Autonomous driving technology, therefore, has significant demand in the country.
However, earlier this week, China launched an <a href="https://www.benzinga.com/news/legal/24/12/42404352/nvidia-china-antitrust-probe-may-remain-unsolved-in-near-term-says-top-analyst-investors-should-be-prepared-for-increased-scrutiny">antitrust investigation</a> centered on Nvidia&#8217;s acquisition of Israeli networking company&nbsp;Mellanox Technologies, approved in 2020, and its potential violations of China&#8217;s anti-monopoly laws.
Check out more of Benzinga'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/tech/24/12/42429588/gms-cruise-exit-draws-sharp-reaction-from-co-founder-kyle-vogt-tesla-ceo-elon-musk-says-autonomous-driving-is-a-very-hard-problem" target="_blank" rel="noreferrer noopener">GM's Cruise Exit Draws Sharp Reaction From Co-Founder Kyle Vogt: Tesla CEO Elon Musk Says Autonomous Driving Is A ‘Very Hard Problem'</a></li>
</ul>
Photo courtesy: Shutterstock

News

Global

Tech

NVDA

Nvidia Adds Hundreds To Its Workforce In China To Build Autonomous Driving Tech Amid Antitrust Investigation: Report

Japan-based cryptocurrency exchange Coincheck started trading on the Nasdaq stock exchange Wednesday following a strategic merger with a special purpose acquisition company.
What happened: Coincheck Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNCK#NASDAQ">CNCK</a>), the holding company of the Tokyo-headquartered firm, merged with Thunder Bridge Capital Partners IV, allowing its shares to trade under the ticker &#8220;CNCK,&#8221; according to a press release.
"We are incredibly proud and excited to become a Nasdaq-listed company and for what the future holds for the Coincheck group companies and our shareholders," said Oki Matsumoto, Coincheck's Executive Chairman.
To mark the occasion, Matsumoto rang the opening bell. Shares of Coincheck were up 0.22% in after-hours trading to $13.38.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: Coincheck is one of Japan's biggest cryptocurrency exchanges, recognized as the country's most-downloaded trading app for five consecutive years. It supported trading in cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Litecoin (CRYPTO: LTE) among others.
With the debut, Coincheck became only the second publicly-listed company on Nasdaq with cryptocurrency trading as its core business, after Coinbase.
Photo Courtesy: Piotr Swat on Shutterstock.com
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
<li></li>
</ul>

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

Cryptocurrency

Markets

General

$BTC

$ETH

CNCK

Japan's Coincheck Crypto Exchange Enters Wall Street With Nasdaq Listing

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is reportedly making significant strides in AI healthcare by recruiting former Alphbaet Inc.'s (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>) Google DeepMind staff.
What Happened Mustafa Suleyman, who <a href="https://www.benzinga.com/news/24/05/38664730/googles-deepmind-co-founder-mustafa-suleyman-shares-his-exciting-first-month-at-microsoft-truly-tran">co-founded DeepMind</a> in 2010 and is now Microsoft&#8217;s AI head, is spearheading this initiative, <a href="https://www.ft.com/content/c41b9dec-d823-466f-a880-d223e3c34e19">reported</a> the Financial Times.
He has brought on board Dominic King, the ex-head of DeepMind's health unit, as vice-president of Microsoft&#8217;s new AI health team in London.
Christopher Kelly, a clinical research scientist from DeepMind, has also joined the team, along with two other former colleagues from the AI start-up.
See Also: <a href="https://www.benzinga.com/media/24/12/42407739/trump-announces-plans-to-have-dinner-with-amazon-founder-jeff-bezos-as-billionaire-rivals-turn-unexpected-allies-after-years-of-clashes?itm_source=parsely-api">Trump Announces Plans To Have Dinner With Amazon Founder Jeff Bezos As Billionaire Rivals Turn Unexpected Allies After Years Of Clashes</a>
Microsoft&#8217;s new consumer AI health division aims to leverage generative AI for health-related applications, addressing the growing trend of consumers seeking health information online.
Microsoft confirmed the establishment of its new unit in a statement to the report, underscoring the importance of health as a critical use case for responsible AI. &#8220;We continue to hire top talent in support of these efforts.&#8221;
Microsoft did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
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: The healthcare sector has emerged as a significant growth area in the ongoing AI boom.&nbsp;
According to a 2023 <a href="https://www2.deloitte.com/in/en/pages/life-sciences-and-healthcare/articles/consumers-believe-generative-AI-could-make-health-care-more-affordable.html">survey </a>by Deloitte&#8217;s Center for Health Solutions, involving 2,014 U.S. adults, over half (53%) of respondents believe generative AI could improve access to healthcare, while 46% think it holds promise for reducing healthcare costs.
Moreover, 48% of the people said they use generative AI chatbots like OpenAI's ChatGPT, Google Gemini, Microsoft Copilot, and Claude to ask for health-related help.
Meanwhile, Microsoft has been <a href="https://www.benzinga.com/24/11/42088290/microsoft-defies-the-ai-plateau-pushing-boundaries-with-new-scaling-laws">actively pushing the boundaries</a> of AI. At its Ignite conference last month, the company unveiled over 80 product enhancements.
At the time, JPMorgan analyst Mark Murphy said that Microsoft is uniquely positioned in the market, infusing GenAI across both application and infrastructure stacks.
<a href="https://www.benzinga.com/markets/equities/24/10/41643178/microsofts-ai-business-set-to-hit-10b-revenue-milestone-in-q2-satya-nadella-says-it-is-the-faste">Microsoft&#8217;s AI business</a> is also on track to surpass a $10 billion annual revenue run rate, marking it as the fastest-growing segment in the company&#8217;s history. CEO Satya Nadella highlighted the rapid adoption of AI across the company&#8217;s product portfolio during its <a href="https://www.benzinga.com/news/earnings/24/10/41636770/microsoft-q1-earnings-highlights-ai-driven-transformation-is-changing-work-company-beats-revenue-ep">first quarter earnings</a> call.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42312508/tesla-ceo-elon-musk-agrees-with-apple-co-founder-steve-jobs-on-guiding-talent-you-know-who-the-best-managers-are?itm_source=parsely-api">Tesla CEO Elon Musk Agrees With Apple Co-Founder Steve Jobs On Guiding Talent: &#8216;You Know Who The Best Managers Are?&#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.

Media

GOOG

GOOGL

MSFT

Microsoft's Mustafa Suleyman Is Recruiting Google DeepMind Talent As Redmond Plans AI Healthcare Superiority: Report

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) is positioned to become &#8220;the next&#8221; Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) in 2025, according to Wedbush Securities Managing Director Dan Ives, who named it the most underappreciated tech stock in his annual sector outlook on Wednesday.
What Happened: In his &#8220;Top 10 Christmas Wish List for the Tech Sector in 2025&#8221; published on X, Ives highlighted Palantir&#8217;s artificial intelligence platform (AIP) as a transformative force in enterprise operations. The prediction comes as Palantir continues to expand its presence in both government and commercial sectors.
The company recently demonstrated its AI capabilities through its Warp Speed manufacturing operating system, which has already shown significant results. Anduril Industries, an early adopter, reported a 200-fold improvement in managing <a href="https://www.benzinga.com/24/12/42443206/palantirs-warp-speed-launches-to-accelerate-us-manufacturing-with-advanced-ai-integration">supply shortages using the platform</a>.
&#8220;We believe 2025 will be another breakout year as its flagship AIP product transforms AI use cases within enterprises,&#8221; Ives wrote, dubbing Palantir the &#8220;Messi of AI.&#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">We just published our annual Top 10 Christmas Wish List for the Tech Sector in 2025 &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f4cd;&#x1f447;&#x1f384; <a href="https://t.co/3udicr0J7h">pic.twitter.com/3udicr0J7h</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1866955641862098998?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">Nasdaq Surges Past 20,000 For First Time, Driven By Tech Gains And Rate Cut Hopes</a>
Why It Matters: The company&#8217;s momentum is evidenced by recent developments, including <a href="https://www.benzinga.com/news/legal/24/12/42292744/whats-going-on-with-palantir-technologies-stock-today-9">a $36.8 million expanded contract</a> with U.S. Special Operations Command and achieving FedRAMP High Authorization for its Federal Cloud Service.
Ives&#8217;s broader tech sector outlook predicts AI capital expenditure exceeding $1 trillion in 2025, with the industry potentially seeing a 25% overall growth. He anticipates reduced antitrust pressures following expected leadership changes at the Federal Trade Commission, potentially catalyzing a 50% increase in tech merger and acquisition activity.
Other notable predictions include Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reaching $4 trillion market capitalizations, and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) potentially hitting $2 trillion in market value by the end of 2025.
Price Action: Palantir&#8217;s stock currently trades at $72.51, having risen significantly from its 52-week low of $15.66, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Palantir Technologies Inc. has a consensus price target of $30.22 from 18 analysts. The highest target is $75, and the lowest is $7.50. Recent ratings from BofA Securities, Wedbush, and Goldman Sachs give an average target of $63.67, implying an 11.95% downside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12001323/Screenshot-2024-12-12-at-10.41.32%E2%80%AFAM-1024x378.png" alt="" class="wp-image-688812" /></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42452165/bitcoin-ethereum-dogecoin-spike-after-inflation-data-matches-expectations-top-analyst-foresees-new-btc-ath-if-it-stays-above-this-level">Bitcoin, Ethereum, Dogecoin Spike After Inflation Data Matches Expectations: Top Analyst Foresees New BTC ATH If It Stays Above This Level</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

AAPL

ORCL

PLTR

TSLA

Palantir Positioned To Become 'The Next' Oracle In 2025, Says Dan Ives: 'Messi Of AI' Set For Breakout Year

Popular dog-themed cryptocurrency Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) lifted sharply Wednesday amid a broader market rally.
What happened: The second-largest meme coin by market capitalization jumped over 10% over the last 24 hours, outpacing its senior Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
The uptick came after Bitcoin reclaimed the $100,000 level, sparking a broader market rally.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Widely followed analyst JAVON MARKS predicted a major upside move for SHIB, setting a target of $0.000081.
"With this target at $0.000081 continuing to be in play, we could be soon witnessing a more than 180% climb unfold in front of our eyes, and it may just already be in effect as we speak," the analyst remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> (Shiba Inu) has confirmed recently, yet another Bullish Pattern and all of its recent has led into continuations, so we can be in for yet another major upside move, but with breakouts holding and one implying $0.000081 to be in play, it can be greater than many think! With… <a href="https://t.co/yiK6w67Cly">https://t.co/yiK6w67Cly</a> <a href="https://t.co/9wdsLpZdSi">pic.twitter.com/9wdsLpZdSi</a>
&mdash; JAVON&#x26a1;&#xFE0F;MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1866863114106589234?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The <a href="https://in.tradingview.com/symbols/SHIBUSD/technicals/">readings</a> of moving averages also supported the coin's bullish potential. Nearly all of SHIB's Exponential Moving Averages and Simple Moving Averages flashed a ‘Buy' signal, per TradingView.
The Bull Bear Power indicator, used for measuring the strength of buyers and sellers in the market, also flashed a ‘Buy' signal.
However, the balance held by long-term SHIB investors fell by 0.08% during the last 24 hours, <a href="https://app.intotheblock.com/">according </a>to IntoTheBlock, implying that selling rather than HODLing was the dominant market activity.
Derivatives traders also raised their bearish bets, with the ratio of shorts out of total speculative bets rising dramatically, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass data.
Price Action:  At the time of writing, SHIB was exchanging hands at $0.00002952, up 10.20% 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>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>

Movers

Trading Ideas

$DOGE

$SHIB

Shiba Inu Poised For 180% Upside, Says Analyst — HODLers Keep Selling

Former U.S. Treasury Secretary Larry Summers cautioned on Wednesday that President-elect Donald Trump&#8216;s proposed economic policies could trigger more severe inflation than the surge experienced during President Joe Biden&#8216;s term, highlighting potential <a href="https://www.benzinga.com/markets/24/12/42430772/janet-yellen-warns-trump-tariffs-could-undermine-confidence-in-financial-markets-and-raise-american-household-costs">risks for investors and markets</a>.
What Happened: In an <a href="https://www.ft.com/content/76f323ba-faa0-4e86-a94b-897d08f29bc4">interview</a> with the Financial Times&#8217; Martin Wolf, Summers pointed to Trump&#8217;s proposed combination of maintaining tax cuts, implementing broad tariffs, and potential labor force reductions through deportation as key inflationary factors.
&#8220;If the program were implemented as described in the campaign, I am very confident that the inflationary impulse would be significantly larger than the impulse represented by the Biden program that was put in place in 2021,&#8221; Summers said.
The warning comes as current Treasury Secretary Janet Yellen expressed similar concerns about Trump&#8217;s proposed tariffs, suggesting they could &#8220;undermine confidence in financial markets&#8221; and <a href="https://www.benzinga.com/markets/24/12/42430772/janet-yellen-warns-trump-tariffs-could-undermine-confidence-in-financial-markets-and-raise-american-household-costs">increase costs for American households</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">Nasdaq Surges Past 20,000 For First Time, Driven By Tech Gains And Rate Cut Hopes</a>
Why It Matters: Summers drew parallels to historical precedents, comparing the situation to former President Richard Nixon&#8216;s economic policies in 1971, which included tariff impositions and price controls. He suggested that Trump&#8217;s administration might adopt similar populist price control measures.
Nixon, the 37th president from 1969 to 1974, presided over an inflation rate that rose from 6.2% to 12.3% by the end of his term. In contrast, the latest economic data shows the current <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42440681/markets-have-the-green-light-to-rally-after-novembers-yawner-inflation-report-experts-say">inflation rate stands at 2.7% as of November</a>.
Despite these risks, <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">U.S. stock markets remain bullish</a>, with the S&amp;P 500 and Dow Jones Industrial Average recently hitting record highs. Summers noted this market confidence might be misplaced.
Scott Bessent, Trump&#8217;s economic adviser, and Treasury secretary pick, has attempted to ease market concerns, stating that Trump would support a strong dollar and suggesting that proposed tariffs are merely <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41308042/trump-adviser-defends-ex-presidents-economic-policies-strong-dollar-would-natural">opening positions for negotiations</a>.
However, Summers emphasized that markets are now &#8220;hair-trigger sensitive to inflation,&#8221; which could act as a natural check on potentially inflationary policies. &#8220;The bond vigilantes will be availing in helping us get to more favorable outcomes on inflation,&#8221; he said.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42452165/bitcoin-ethereum-dogecoin-spike-after-inflation-data-matches-expectations-top-analyst-foresees-new-btc-ath-if-it-stays-above-this-level">Bitcoin, Ethereum, Dogecoin Spike After Inflation Data Matches Expectations: Top Analyst Foresees New BTC ATH If It Stays Above This Level</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Larry Summers Warns Of Nixon-Era Risks In Trump's Term: Policies Could Trigger 'Significantly Larger' Inflation

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, purchased Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) worth $10 million on Wednesday.
What Happened:&nbsp;According to on-chain tracking platform Lookonchain, World Liberty Financial&nbsp;spent $10 million worth of stablecoin USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) to buy 2,631 ETH at a per-unit price of $3,801. With this grab, its total ETH holdings shot up to around 14,571, worth over $56 million at the current market price.
The project also bagged $1 million in Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>), and $1 million in Aave (CRYPTO: AAVE.), on-chain data showed.
The purchases were made through&nbsp;the World Liberty Multisig wallet, with the funds being converted from USDC.
The World Liberty Financial team didn&#8217;t immediately return Benzinga&#8217;s request for clarification on these purchases.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump&#39;s World Liberty(<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> and <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>! In the past 9 hours, the World Liberty Multisig wallet spent 10M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 2,631 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> at $3,801, 1M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 41,335 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> at $24.2, and 1M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 3,357 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> at $297.8.<a href="https://t.co/mtD0c2tvvo">https://t.co/mtD0c2tvvo</a> <a href="https://t.co/B11KvcwRJQ">pic.twitter.com/B11KvcwRJQ</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1867036708983935325?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42446000/peanut-the-squirrel-popcat-goat-eclipse-dogecoin-shiba-inu-in-single-day-gains-on-exchange-listing-frenzy">Peanut The Squirrel, Popcat, GOAT Eclipse Dogecoin, Shiba Inu In Single-Day Gains On Exchange Listing Frenzy</a>
Why It Matters:&nbsp; Launched in September as a<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know"> hard fork </a>of the popular decentralized finance protocol Aave, World Liberty Financial is being promoted as a money market that will allow users to borrow, lend, and earn interest on cryptocurrencies. 
The WLFI token would serve as the platform's governance token, enabling users to engage in borrowing, lending, and other DeFi activities. 
Initially targeting a $300 million raise through the token presale, the platform reduced its goal to $30 million in October due to limited demand.
As of this writing, the project has raised $55.69 million, <a href="https://dune.com/fergmolina/world-liberty-financial" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to a Dune Analytics dashboard, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">bolstered</a> by a $30 million investment by cryptocurrency mogul Justin Sun, who eventually became the project&#8217;s advisor.
Trump and his family have aggressively promoted the project, and a firm associated with the President-elect,&nbsp;DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenues</a>.
Price Action:&nbsp; At the time of writing, Ethereum was exchanging hands at $3,935.93, rallying 7.48% 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>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42446237/xrp-price-explodes-20-to-2-43-after-ripple-receives-rlusd-stablecoin-approval">XRP Price Explodes 20% To $2.43 After Ripple Receives RLUSD Stablecoin Approval</a></li>
</ul>

$LINK

$USDC

Trump-Backed World Liberty Financial Bags $10M In Ethereum: What's Going On?

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock reached the $420 mark on Wednesday, sparking reactions from social media and Elon Musk himself. This achievement comes amid a year of impressive stock performance for the electric vehicle giant.
What Happened: Musk took to X, formerly Twitter, and wrote, &#8220;As foretold in the prophecy,&#8221; accompanied by a screenshot of the stock price.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As foretold in the prophecy &#x1f64f; <a href="https://t.co/1SaMvlfvpd">https://t.co/1SaMvlfvpd</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1866935876921725427?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
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Influential investor Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, also chimed in on X with a simple &#8220;420.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">420
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1866939534308680184?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
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Gary Black, managing partner at Future Fund LLC, also shared a screenshot of the stock price graph, noting, &#8220;I see what you did there. $tsla.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I see what you did there. <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://t.co/KJzQ8b3WKP">https://t.co/KJzQ8b3WKP</a> <a href="https://t.co/aMuZrnb0u7">pic.twitter.com/aMuZrnb0u7</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1866941190957896176?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42404312/gary-black-boosts-tesla-price-target-by-27-to-380-citing-25k-hatchbacks-market-potential?itm_source=parsely-api">Gary Black Boosts Tesla Price Target By 27% To $380 Based On &#8216;Increased Conviction&#8217; That Elon Musk-Led Company Will Launch $25K Hatchback</a>
This marks the first time Tesla&#8217;s share price has crossed the $420 threshold since a stock split in August 2022.
Previously in 2018, Musk had teased about taking Tesla private at $420 per share. A year after Musk&#8217;s infamous tweet, the stock hit a record high of $422.01.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Am considering taking Tesla private at $420. Funding secured.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1026872652290379776?ref_src=twsrc%5Etfw">August 7, 2018</a></blockquote>
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The company remains publicly traded despite surpassing the meme-worthy milestone on more than one occasion. In 2023, a jury found Musk <a href="https://www.benzinga.com/news/23/02/30718662/elon-musk-victorious-in-lawsuit-over-2018-funding-secured-tweets-wisdom-of-the-people-has-prevailed">not liable for misleading</a> investors with his &#8220;funding secured&#8221; tweet.&nbsp;
Why It Matters: Tesla&#8217;s stock has surged 70.99% year-to-date. Musk, who is also the founder of SpaceX and owner of X, has been appointed co-leader of the <a href="https://www.benzinga.com/24/11/42253427/elon-musks-doge-dream-team-from-marc-andreessen-to-ubers-travis-kalanick-silicon-valley-titans-join-forces-to-overhaul-federal-spending">Department of Government Efficiency</a> by President-elect Donald Trump. DOGE aims to cut federal spending by $2 trillion.
Morgan Stanley analysts have named <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42449593/tesla-stock-is-analysts-top-2025-sector-pick-elon-musks-political-involvement-will-accelerate-teslas-journey-beyond-autos">Tesla as their top stock pick</a> for 2025. The stock&#8217;s rise is also attributed to <a href="https://www.benzinga.com/tech/24/12/42430502/tesla-tops-nvidia-and-apple-in-innovation-analyst-sees-significant-market-cap-upside-for-elon-musk-led-ev-giant">Tesla&#8217;s innovation</a>, according to Gene Munster of Deepwater Asset Management, who praised the EV giant&#8217;s advancements in autonomy and robotics.
Tesla&#8217;s <a href="https://www.benzinga.com/markets/equities/24/12/42438591/teslas-china-sales-recover-model-y-accounts-for-over-60-of-november-sales">strong sales performance in China</a> has also bolstered its market position, with the Model Y leading sales in November.
Price Action: On Wednesday, Tesla shares closed the trading session with a 5.93% gain, ending at $424.77. In after-hours trading, the stock continued to climb, rising another 0.89% to reach $428.57, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Tesla stock currently holds a consensus "hold" rating from analysts, with Stifel projecting the highest price target of $411 on Dec. 2. Latest targets from Goldman Sachs, Cantor Fitzgerald, and Morgan Stanley average around $370, pointing to a potential 13.67% downside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11222928/Screenshot-2024-12-12-at-8.59.22%E2%80%AFAM-1024x374.png" alt="" class="wp-image-688670" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42383750/elon-musk-mocks-tesla-shorts-after-stock-hits-400-in-overnight-trading-on-robinhood?itm_source=parsely-api">Elon Musk Mocks Tesla Shorts After Stock Hits $400 In Overnight Trading On Robinhood</a></li>
</ul>
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.

Tesla's Red Hot Stock Meets Meme Magic $420 Level, Musk Celebrates 'The Prophecy' — Analysts React

German automaker BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) on Wednesday took down its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42430368/bmw-calls-tesla-fsd-very-impressive-gary-black-says-automakers-will-eventually-license-it-one-deal-will-cause-others-to-follow">appreciation for</a> Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) full self-driving (FSD) driver assistance system without an explanation, merely hours after sharing it on social media platform X.
What Happened: BMW on Tuesday applauded the performance of version 13 of FSD in a post on social media platform X, terming it &#8220;very impressive.&#8221;
However, BMW has now taken it down. 
&#8220;Too bad, that was one of their best posts!&#8221; Tesla CEO Elon Musk responded to the deletion.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Too bad, that was one of their best posts!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1866865120015684000?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
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The now-deleted comment had raised hopes among Tesla bulls that BMW could eventually license FSD for their vehicles.
"At some point $TSLA will sign an FSD licensing deal with another auto mnfr (manufacturer) who hasn&#8217;t developed an autonomous driving package to their liking. One deal will cause others to follow and then analysts will build licensing revs into their TSLA models and price targets. No one knows when the first one will hit, but there is at least one incoming," said the managing partner at The Future Fund and well-known Tesla bull, Gary Black, on Tuesday.
Why It Matters: Tesla CEO&nbsp;Elon Musk&nbsp;said earlier this year that the company would be &#8220;happy&#8221; to license its&nbsp;<a href="https://www.benzinga.com/news/24/04/38039926/not-an-april-fools-teslas-fsd-wows-ex-cruise-exec-who-calls-its-driving-eerily-natural" target="_blank" rel="noreferrer noopener">full self-driving (FSD) technology&nbsp;</a>to other car companies.
However, in January, the company said that it had&nbsp;<a href="https://www.benzinga.com/news/24/01/36772202/elon-musk-says-tesla-hasnt-received-any-fsd-licensing-agreements-from-rivals-i-think-they-dont-belie" target="_blank" rel="noreferrer noopener">not entered into a single FSD licensing agreement</a>.
Though the company had some tentative conversations, no agreement was entered into. "I think they (rival automakers) don't believe it's real quite yet," Musk then said."I do want to emphasize that if I were CEO of another car company, I would definitely be calling Tesla and asking to license Tesla&#8217;s full self-driving technology.&#8221;
Check out more of Benzinga'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/tech/24/12/42432727/lucids-gravity-gets-official-range-estimate-higher-than-teslas-model-x-but-lower-than-its-own-air-sedan">Lucid&#8217;s Gravity Gets Official Range Estimate: Higher Than Tesla&#8217;s Model X, But Lower Than Its Own Air Sedan</a></li>
</ul>
Photo courtesy: Shutterstock

BMWYY

BMW Takes Down Appreciation For Tesla FSD, Dashing Hopes Of A Licensing Deal With The EV Giant: Elon Musk Says 'Too Bad'

Prominent financial market commentator Tom Lee doubled down on his $250,000 price target for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in 2025 on Wednesday, thanks to a friendlier White House.
What happened: Lee, managing partner and head of research at Fundstrat Global Advisors, stated in a CNBC interview that the leading cryptocurrency faced numerous regulatory pressures in the last few years, but the new White House is "embracing" digital assets.
"A new SEC Chair, a new FTC Chair, a new commerce secretary—I think these are being viewed as pro-business reviving animal spirits, but I think a good proxy is watching Bitcoin," Lee said.
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
When asked about Bitcoin&#8217;s price target in 2025, the analyst replied that it would follow the halving cycle, implying a level somewhere around $250,000.
"On top of that, we have a Trump put because Bitcoin is potentially a strategic reserve asset for the U.S.," Lee said.
Why It Matters: Lee's latest remark <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42257250/financial-analyst-says-bitcoin-could-soar-to-250000">reiterated his earlier projections</a> of the marquee digital asset hitting $250,000 by 2025-end.
He also accurately called Bitcoin's breach above $100,000 last week.&nbsp;
As the leading cryptocurrency eventually hit the historic milestone, Lee said <a href="https://www.benzinga.com/24/12/42357083/tom-lee-says-bitcoins-100k-milestone-could-be-a-precursor-for-the-sp-500s-moves-asks-investors-to-stay-focused-on-a-christmas-santa-claus-rally">it could be a precursor to a bullish stock market</a>, setting a target of 6,300 for the S&amp;P 500 by year-end.
Price Action:  At the time of writing, Bitcoin was exchanging hands at $101,029.29, up 4% 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 via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>

Tom Lee Reiterates Bitcoin's $250,000 Target For 2025, Says New White House Is 'Embracing' Digital Assets: 'We Have A Trump Put'

CNBC&#8217;s Jim Cramer expressed strong buying conviction for Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) during Wednesday&#8217;s Lightning Round on &#8220;Mad Money,&#8221; as the streaming giant&#8217;s shares traded near $934 amid <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">broader tech market strength</a>.
What Happened: Cramer&#8217;s <a href="https://www.cnbc.com/2024/12/11/cramers-lightning-round-netflix-is-a-buy.html">recommendation</a> comes as JPMorgan analyst Doug Anmuth raised his price target on Netflix to $1,010 from $850, citing robust subscriber growth and <a href="https://www.benzinga.com/news/24/12/42439988/why-netflix-stock-is-rising">expanding ad revenue</a>. 
The platform recently achieved a milestone with its Jake Paul vs. Mike Tyson boxing match, which became the most-streamed sporting event ever with 60 million households watching live.
Netflix&#8217;s ad-supported tier has reached 70 million monthly active users and is projected to hit 120 million by late 2025. The company is expected to add 10 million subscribers in the fourth quarter, according to JPMorgan&#8217;s estimates.
During the same Lightning Round, Cramer also endorsed Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), calling it &#8220;cheap&#8221; despite lagging behind NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). He expressed cautious optimism about Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) &#8220;even with the talc litigation,&#8221; while showing less enthusiasm for JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), which he described as &#8220;too much of a stretch.&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">Nasdaq Surges Past 20,000 For First Time, Driven By Tech Gains And Rate Cut Hopes</a>
Why It Matters: The endorsement came during a historic day for tech stocks, as the Nasdaq Composite <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">surpassed 20,000 points</a> for the first time, closing at 20,034, marking a 1.77% gain.
The stock picks came as <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">the S&amp;P 500 rose 0.82% to 6,084</a>, though the Dow Jones Industrial Average declined by 99.27 points to 44,148.
Price Action: Netflix Inc&#8217;s stock price rose to $936.56, up 2.54% on Wednesday. After hours, the price remained unchanged. Year to date, the stock has surged by $468.06, marking an increase of 99.91%. 
According to <a href="https://www.benzinga.com/quote/NFLX/analyst-ratings">data from Benzinga Pro</a>, Netflix has a consensus price target of $810.45 from 29 analysts, with a high of $1100 and a low of $550. The latest ratings from JP Morgan, Citigroup, and Canaccord Genuity suggest an average target of $956.67, implying a 2.43% upside.
Netflix&#8217;s stock has increased from $450.76 to $935.27 over the 52 weeks, with a market capitalization of $399.25 billion and a P/E ratio of 51.63. Its RSI is currently at 73.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11212832/Screenshot-2024-12-12-at-7.57.40%E2%80%AFAM-1024x378.png" alt="" class="wp-image-688609" /></figure>
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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.

NFLX

Jim Cramer Bullish On Netflix Nearing $1,000 And AMD's 'Cheap' Valuation Despite Nvidia Dominance

On Wednesday, Cathie Wood-led Ark Invest executed significant trades involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>). The investment firm opted to sell a substantial number of Tesla shares while increasing its stake in Tempus AI. These trades come amid noteworthy market movements, including Tesla&#8217;s stock reaching new all-time highs.
The Tesla Trade
The ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) fund sold 51,335 shares of Tesla, valued at approximately $21.8 million, based on the closing price of $424.77. This decision coincides with Tesla&#8217;s stock reaching a <a href="https://www.benzinga.com/news/econ-s/24/12/42440275/wall-street-gains-tech-rallies-tesla-hits-all-time-highs-as-inflation-data-firms-up-feds-next-interest-rate-cut">new all-time high</a>, driven by a surge in its price following the 2024 presidential election. Analysts have been raising their price targets for the electric vehicle giant, contributing to its stock hitting a 52-week high of $415. The stock&#8217;s performance has been buoyed by favorable market conditions, including anticipated interest rate cuts by the Federal Reserve.
Elon Musk, Tesla&#8217;s CEO, has become the <a href="https://www.benzinga.com/news/management/24/12/42444955/elon-musk-first-person-worth-400-billion-as-tesla-stock-hits-new-all-time-highs-how-2024-election-helped-could-lead-to-future-gains">first person</a> to surpass a net worth of $400 billion, thanks to the stock&#8217;s impressive rally. The stock&#8217;s momentum is expected to continue as market analysts remain optimistic about its future prospects.
The Tempus AI Trade
In contrast to its Tesla trade, Ark Invest significantly increased its position in Tempus AI, purchasing 424,522 shares through its ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) and ARKK funds. The total value of this acquisition is approximately $18.3 million, calculated using the closing price of $43.19. Tempus AI, a healthcare diagnostics company, has been in the spotlight, partly due to <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40419923/tempus-ai-soars-to-new-highs-investments-from-google-and-softbank-boost-bullish-sentimen">strategic investments</a> from major players like Google and SoftBank. 
Other Key Trades:
<ul>
<li>Sold shares of Veracyte Inc. from the ARKG fund.Sold shares of Rocket Lab USA Inc. from the ARKQ fund.Bought shares of Symbotic Inc. through the ARKQ fund.</li>
</ul>
Image via Benzinga YouTube and Unsplash
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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>

ETFs

ARKG

ARKK

Cathie Wood's Ark Invest Trims Tesla Exposure Amid Searing Rally, Sells $21.8M Worth Of Stock — Bets On This AI Medical Company

The stock market experienced a wave of optimism on Wednesday, driven by the latest inflation report. The Nasdaq 100 surged 1.7%, achieving a <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">new record high</a>, while the S&amp;P 500 climbed 0.8%. This bullish sentiment was fueled by expectations of a 25-basis-point rate cut at the upcoming Federal Reserve meeting. The tech sector, particularly the &#8220;Magnificent Seven&#8221; mega-cap stocks, played a significant role in these gains.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
GameStop Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop shares rose 7.58% to close at $28.97, with an intraday high of $30.16 and a low of $27.51. The stock&#8217;s 52-week range is $64.83 to $9.95. The company&#8217;s <a href="https://www.benzinga.com/24/12/42447172/gamestop-shares-are-on-the-rise-wednesday-whats-going-on">third-quarter financial results</a> revealed net sales of $860.3 million, falling short of the $887.7 million consensus estimate. Sales declined across all segments, with hardware and accessories generating $417.4 million, down from $579.4 million the previous year. 
Adobe Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>)
Adobe&#8217;s stock saw a modest gain of 0.53%, closing at $549.93. The day&#8217;s high was $552.3, and the low was $541.74, with a 52-week range of $638.25 to $433.98. The company reported fourth-quarter revenue of $5.61 billion, <a href="https://www.benzinga.com/news/earnings/24/12/42449013/adobe-q4-earnings-revenue-eps-beat-on-strong-demand-related-to-ai-shares-slide-following-soft-guidance">surpassing the $5.54 billion consensus estimate</a>. Adjusted earnings per share were $4.81, beating the $4.66 estimate. Despite this, shares dipped due to soft guidance. 
Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta Platforms&#8217; stock increased by 2.16%, ending the day at $632.68. The stock reached an intraday high of $638.4 and a low of $621.53, with a 52-week range of $638.4 to $324.56. The company faced a <a href="https://www.benzinga.com/general/social-media/24/12/42446823/meta-platforms-suffers-major-outage-facebook-instagram-and-other-apps-down-for-thousands">major outage</a> affecting Facebook, Instagram, Threads, and WhatsApp, impacting thousands of users. Meta acknowledged the issue, which was reported by Downdetector.com.
Candel Therapeutics, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CADL#NASDAQ">CADL</a>)
Candel Therapeutics&#8217; stock skyrocketed 68.11% to $7.75, with a high of $14.60 and a low of $6.13. The 52-week range is $14.60 to $1. The company announced successful results from a <a href="https://www.benzinga.com/24/12/42438029/candel-therapeutics-prostate-cancer-therapy-hits-primary-goal-in-late-stage-study-stock-surges-over-100">phase 3 trial of its CAN-2409 viral immunotherapy</a> for prostate cancer, meeting its primary endpoint and showing significant improvement in disease-free survival. 
Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares climbed 5.93% to close at $424.77, with an intraday high of $424.88 and a low of $402.38. The stock&#8217;s 52-week range is $424.88 to $138.8. The company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/12/42438591/teslas-china-sales-recover-model-y-accounts-for-over-60-of-november-sales">strong performance in China</a>, particularly with the Model Y, contributed to this rise. In November, Tesla&#8217;s retail sales in China reached 73,490 units, marking a significant recovery. 
Image via Pixabay
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
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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>

ADBE

CADL

Gamestop, Adobe, Meta, Candel Therapeutics, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

OpenAI&#8217;s widely-used ChatGPT service is experiencing a major disruption, leaving millions of users worldwide unable to access the platform.
What Happened: The outage on Wednesday has affected both free and premium users, including businesses that rely on OpenAI&#8217;s API.
Monitoring site DownDetector.com had recorded about 30,000 outage reports in the U.S.
See Also: <a href="https://www.benzinga.com/general/social-media/24/12/42406434/meta-and-youtube-remove-accounts-of-luigi-mangione-but-x-reinstates-profile-elon-musk-says-happened-without-my-knowledge?itm_source=parsely-api">Meta And YouTube Remove Accounts Of Luigi Mangione, But X Reinstates Profile: Elon Musk Says, &#8216;Happened Without My Knowledge&#8217;</a>
According to OpenAI, the issue was identified in API, Sora, and ChatGPT, and efforts are underway to restore normal operations.
<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">We&#39;re experiencing an outage right now. We have identified the issue and are working to roll out a fix. Sorry and we&#39;ll keep you updated!
&mdash; OpenAI (@OpenAI) <a href="https://twitter.com/OpenAI/status/1867000372826607627?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
At 8 PM ETC OpenAI updated saying, &#8220;We have identified a pathway to recovery and we are starting to see some traffic successfully return. Continuing to work to return service to normal.&#8221;
However, at the time of writing the issues still persisted, with no estimated resolution time provided yet.
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: The outage comes at a critical time for OpenAI, as the company is conducting its &#8220;12 Days of OpenAI&#8221; event, which <a href="https://www.benzinga.com/tech/24/12/42332451/sam-altman-teases-12-days-of-openai-christmas-magic-users-predict-unveiling-of-sora-o1-reasoning-model-and-more">began on Dec. 5</a>.
Already, OpenAI has introduced <a href="https://www.benzinga.com/tech/24/12/42356469/openai-unveils-200-chatgpt-pro-subscription-inside-the-o1-reasoning-model-and-what-it-means-for-power-users">a new subscription tier</a>, ChatGPT Pro, priced at $200 per month, and Sora, an <a href="https://www.benzinga.com/24/12/42398825/sam-altman-calls-openais-new-video-generator-so-compelling">AI-powered video generation tool</a>, among other things.
The ChatGPT Pro offers unlimited access to all models, including the advanced &#8220;o1&#8221; reasoning model,
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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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.

Sam Altman's '12 Days Of OpenAI' Christmas Magic Gets Interrupted By Uninvited Outage — ChatGPT Parent Says 'Identified A Pathway To Recovery'

Leading cryptocurrencies rallied Wednesday after in-line inflation data boosted expectations of monetary easing by the Federal Reserve.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+5.03%</td>
<td>$100,927.86</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>+6.42%</td>
<td>$3,828.77</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>+6.38%</td>
<td>$0.4121</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Following a minor pullback, Bitcoin reclaimed the $100,000 mark, while Ethereum returned to the $3,800 territory.
Bitcoin's upswing catalyzed the rest of the market, as the altcoin dominance increased by 4.41% over the last 24 hours.
Cryptocurrency liquidations surpassed $240 million in the last 24 hours, with $154 million in leveraged shorts getting wiped out.
Over $400 million in shorts risked liquidation on Binance if Bitcoin rises to $104,000.
Bitcoin's Open Interest surged by 4.90% in the last 24 hours. Interestingly, the number of traders shorting the asset rose dramatically in the last 24 hours, implying a greater expectation of another dip.
Market sentiment returned to the "Extreme Greed" zone, as per the Cryptocurrency Fear &amp; Greed Index, lending credence to the pullback narrative.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Peanut the Squirrel (PNUT)</td>
<td>+27.97%</td>
<td>$1.32</td>
</tr>
<tr>
<td>Virtuals Protocol (VIRTUAL)</td>
<td>+22.87%</td>
<td>$1.92</td>
</tr>
<tr>
<td>Sui (SUI)</td>
<td>+21.35%</td>
<td>$4.47</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.61 trillion, surging&nbsp; 5.02% over the last 24 hours.
The stock market rebounded sharply after consecutive days of losses. The tech-heavy Nasdaq Composite jumped 1.77% to close at a <a href="https://www.benzinga.com/markets/equities/24/12/42452127/nasdaq-breaks-20000-milestone-as-tech-rally-rate-cut-hopes-fuel-market-optimism">record high</a> of 20,034.89. The S&amp;P 500 rallied 0.82%, ending at 6,084.19. The Dow Jones Industrial Average, however, closed another day in the red, slipping 0.22% to 44,148.56.
The tech rally was supported by electric vehicle giant Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock hitting all-time highs after a 5.93% spike.
Additionally, November's Consumer Price Index <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut">matched analyst's expectations</a>, prompting traders to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">raise </a>the likelihood of a 25 basis point rate cut in next week's Federal Reserve meeting to 98.6% from 88.9% a day before, per CME FedWatch data.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst and trader Michaël van de Poppe stated that Bitcoin was headed to new all-time highs in the coming days if it managed to stay above the $97,844 resistance level.
<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">Let&#39;s do some TA on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. It broke through a crucial area yesterday. If it holds above that resistance level, likely we&#39;ll see a new ATH in the coming days. We&#39;re back in $100k+ territory. <a href="https://t.co/eiK45s5aNi">pic.twitter.com/eiK45s5aNi</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1866915100935770325?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed analyst, known by their pseudonym venturefounder, predicted Ethereum to hit $4,900 "very soon" as it reclaimed the $3,800 level as support.
The analyst also set price targets of $5,349, $6,457, and $7,238 by the first quarter of 2025.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> weekly candle not done yet, we are back to $3,800 support level. It took <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> 2 years to complete this cup and handle, and you think it will be shaken out like this? $4,900 very soon. Then it gets explosive, PT are: $5,349 $6,457 $7,238 All this by Q1 2025 the… <a href="https://t.co/9jdbe95uvU">pic.twitter.com/9jdbe95uvU</a>
&mdash; venturefounder (@venturefounder) <a href="https://twitter.com/venturefounder/status/1866867327192412544?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by CMP_NZ on Shutterstock
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Bitcoin, Ethereum, Dogecoin Spike After Inflation Data Matches Expectations: Top Analyst Foresees New BTC ATH If It Stays Above This Level

The Nasdaq Composite broke through the 20,000-point barrier, reaching 20,034 for the first time on Wednesday. The tech-centric index leaped 1.77%, propelled by <a href="https://www.benzinga.com/news/large-cap/24/12/42447567/magnificent-seven-tech-titans-hit-182-trillion-market-cap-alphabet-amazon-apple-meta-tesla-jointly-notch-all-time-highs">widespread advances in tech stocks</a> and growing optimism about Federal Reserve rate cuts in 2024.
What Happened: The S&amp;P 500 rose by 0.82% to hit 6,084. In contrast, the Dow Jones Industrial Average bucked the trend, falling by 99.27 points to 44,148, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Leading the rally were shares of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), which jumped 2.7%, building on Tuesday&#8217;s 5.3% advance. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) climbed 1.2% to $412, reaching its highest level since November 2021, boosted by Goldman Sachs raising its price target to $345.
The Magnificent Seven combined market capitalization surged to an <a href="https://www.benzinga.com/news/large-cap/24/12/42447567/magnificent-seven-tech-titans-hit-182-trillion-market-cap-alphabet-amazon-apple-meta-tesla-jointly-notch-all-time-highs">unprecedented $18.2 trillion</a>.
See Also: <a href="https://www.benzinga.com/news/earnings/24/12/42449013/adobe-q4-earnings-revenue-eps-beat-on-strong-demand-related-to-ai-shares-slide-following-soft-guidance">Adobe Q4 Earnings: Revenue, EPS Beat On Strong Demand Related To AI, Shares Slide Following Soft Guidance</a>
Why It Matters: The milestone comes as November&#8217;s Consumer Price Index showed inflation rose 2.7% <a href="https://www.benzinga.com/news/econ-s/24/12/42440275/wall-street-gains-tech-rallies-tesla-hits-all-time-highs-as-inflation-data-firms-up-feds-next-interest-rate-cut">year-over-year</a>, slightly above October&#8217;s 2.6% but matching economist forecasts. 
Core inflation held steady at 3.3%, meeting expectations. Following the data, traders increased bets on interest rate cuts, with CME FedWatch showing a 96% probability of a quarter-point reduction at the Fed&#8217;s Dec. 18 meeting, up from 86% before the report.
Treasury yields declined, with the rate-sensitive 2-year yield dropping 4 basis points to 4.10% and the benchmark 10-year yield falling 2 basis points to 4.20%, reflecting market optimism about potential monetary easing.
Overseas markets showed mixed performance, with Japan&#8217;s Nikkei 225 and China&#8217;s Shanghai Composite posting modest gains, while Hong Kong&#8217;s Hang Seng declined 0.8%. European markets moved higher, with France&#8217;s CAC 40 leading gains at 0.4%.
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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.

Nasdaq Surges Past 20,000 For First Time, Driven By Tech Gains And Rate Cut Hopes

The New York Police Department has issued a warning about escalating threats to healthcare executives, according to a report on Wednesday. This follows the murder of UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) CEO Brian Thompson. The NYPD&#8217;s bulletin highlights the circulation of online posts listing the names and salaries of several health insurance executives, raising security concerns.
What Happened: The NYPD&#8217;s bulletin, as <a href="https://abcnews.go.com/US/executive-hit-lists-wanted-posters-nypd-warns-threats/story?id=116662519">reported</a> by ABC News, reveals that &#8220;Wanted&#8221; signs featuring corporate executives have appeared across Manhattan. Social media users have been celebrating Thompson&#8217;s death, and the suspect, Luigi Mangione, is being viewed by some as a &#8220;martyr&#8221; who could inspire extremist actions.
The bulletin warns that Mangione&#8217;s actions could incite violence from extremist groups. Companies are urged to enhance security measures for their executives. Mangione was apprehended in Pennsylvania on&nbsp;Monday and faces charges in&nbsp;New York, including second-degree murder.
Additionally, some online users have reacted positively to the killing, encouraged further targeting of similar executives, and spread conspiracy theories about the incident. Viral posts have emphasized a &#8220;hitlist&#8221; of health insurance CEOs, suggesting they should be fearful.
The posters in New York feature the image of Thompson as well as American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) CEO Stephen Squeri. Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-11/cops-investigate-wanted-posters-of-executives-around-nyc">noted</a> that Thompson&#8217;s posters were marked with a red X.
See Also: <a href="https://www.benzinga.com/news/24/12/42404540/whats-going-on-with-dogecoin-rival-shiba-inu-shib-2?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Dogecoin Rival Shiba Inu (SHIB)?</a>
Why It Matters: The murder of UnitedHealthcare CEO Thompson last week, outside the New York Hilton Midtown, has sent shockwaves through the healthcare industry. The targeted <a href="https://www.benzinga.com/general/health-care/24/12/42316904/unitedhealthcare-ceo-brian-thompson-fatally-shot-outside-nyc-hotel">attack occurred</a> during an investor day event, raising questions about the safety of corporate executives. 
Details about the suspect, Mangione, reveal a complex background, including chronic pain and a fascination with the Unabomber. This has added layers to the investigation. Mangione was <a href="https://www.benzinga.com/news/legal/24/12/42418763/unitedhealthcare-ceo-murder-suspect-chronic-pain-unabomber-fascination-isolation-details-emerge">arrested</a> in Pennsylvania with a ghost gun and silencer, matching the suspect&#8217;s description. 
The incident has also <a href="https://www.benzinga.com/24/12/42365853/unitedhealthcare-faces-tough-questions-following-insurance-business-ceos-tragic-death">intensified scrutiny</a> on UnitedHealthcare and the broader insurance industry. Bullet casings found at the crime scene bore inscriptions like &#8220;deny&#8221; and &#8220;delay,&#8221; terms often associated with insurance claim practices. 
Price Action: On Wednesday UnitedHealth Group shares ended the day 5.6% lower at $533.53 and fell another 0.1% in the after-hours trading, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.
Photo via 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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Sixteen years ago, Alphabet Inc.'s (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>) Google Chrome was a scrappy newcomer in a browser market dominated by Microsoft's Internet Explorer.
Today, it stands as the undisputed champion of web browsing, commanding over 65% of the global market share. But how did this transformation happen, and what does it mean for the future of internet technology?
The Unlikely Origin Story
In the mid-2000s, Google&#8217;s co-founders Larry Page and Sergey Brin harbored a radical vision. While then-CEO Eric Schmidt remained skeptical about challenging Microsoft&#8217;s browser dominance, Page and Brin secretly assembled a team of top-tier developers from Mozilla and Netscape.
&#8220;I said there was no scenario we were going to do an operating system and a browser because Microsoft would kill us and I don&#8217;t want to get killed,&#8221; Schmidt later recalled telling the co-founders once with a hint of amusement.
<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">How Chrome was "invented" <a href="https://twitter.com/ericschmidt?ref_src=twsrc%5Etfw">@ericschmidt</a> ‘s fun BTS. <a href="https://t.co/N2fCylQ38f">pic.twitter.com/N2fCylQ38f</a>
&mdash; Vijay Shekhar Sharma (@vijayshekhar) <a href="https://twitter.com/vijayshekhar/status/1396504951048732679?ref_src=twsrc%5Etfw">May 23, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This clandestine approach would prove to be a masterstroke of technological innovation.
See Also: <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">Google Introduces AI Agent Prototype That Can Browse The Web</a>
A Browser Built For The Modern Web
Initially introduced as a beta version on Sept 2, 2008, and then the stable version on Dec. 11, 2008, Chrome wasn&#8217;t just another browser—it was a reimagining of how people interact with the internet.&nbsp;
The browser pioneered revolutionary features like tab sandboxing, which prevented entire browser crashes, and delivered unprecedented speed coupled with remarkable simplicity.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193307/Screenshot-2024-12-12-at-6.03.00%E2%80%AFAM-1024x920.png" alt="" class="wp-image-688503" /><figcaption class="wp-element-caption">Source: Statista&#x7C; Evolution of global market share for a selection of internet browsers between the first quarter of 2009 and the fourth quarter of 2024.</figcaption></figure>
Unlike its predecessors, Chrome was architected as a sophisticated platform for cloud-based web applications, featuring a robust ecosystem of extensions that empowered users with unprecedented customization and functionality.
The impact was swift and decisive. Once a formidable competitor, Firefox saw its market share <a href="https://www.cnet.com/tech/services-and-software/ie-shrinks-in-09-but-maintains-dominance/">plummet</a> from 24.61% in 2009 to a mere 2.59% in November 2024. Internet Explorer, once the unassailable king of browsers, has been dethroned.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-1024x576.png" alt="" class="wp-image-688504" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar.png 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Sundar Pichai: The Architect Of Chrome&#8217;s Success
Sundar Pichai was the driving force behind Chrome. His vision transformed the browser from a simple web tool to an integrated platform that seamlessly connected users with Google&#8217;s expanding ecosystem of services.
In 2015, Pichai became CEO of Google and later Alphabet, overseeing not just Chrome but a vast array of products.&nbsp;
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.
But Now There Are Regulatory Headwinds
Today, Chrome&#8217;s success has <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">attracted intense scrutiny</a>. The U.S. Department of Justice is investigating Google&#8217;s market practices, raising critical questions about anti-competitive behavior in the tech industry.
The DOJ alleged that Google&#8217;s monopoly on search stifles competition and harms consumers. To address this, the DOJ proposes that <a href="https://www.benzinga.com/tech/24/11/42140450/doj-targets-google-chrome-poll-shows-64-oppose-alphabet-breakup-youtube-seen-as-top-prize">Google divest its Chrome browser</a>, ban exclusive deals with companies like Apple Inc. and Samsung, and share valuable search data with competitors.
The DOJ also aims to curb Google&#8217;s influence on Android and prevent it from favoring its own search engine. While the DOJ argues these measures are necessary to promote fair competition, Google has vehemently opposed the proposals.
Chrome&#8217;s journey from underdog to market leader is more than a corporate success story. It&#8217;s a testament to technological innovation, strategic vision, and the rapidly evolving digital landscape.
As regulatory pressures mount and technological boundaries continue to shift, one question remains: Is the internet browser saga coming full circle? The next chapter is yet to be written, but one thing is certain—the world will be watching.
Image via Shutterstock
Check out more of Benzinga&#8217;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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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Chrome Was A Scruffy Underdog 16 Years Ago, But Today It Is The Undisputed Top Dog — Is The Internet Browser Saga Finally Coming Full Circle?

Music legend Elton John voiced strong opposition to the legalization of cannabis in the U.S., arguing that it is addictive and a gateway to more dangerous substances.
"I maintain that it's addictive. It leads to other drugs," said John, who was recently honored as TIME magazine&#8217;s &#8220;Icon of the Year.&#8221; Reflecting on his own experiences, he added, "When you're stoned — and I've been stoned — you don't think normally. Legalizing marijuana in America and Canada is one of the greatest mistakes of all time."
John, now 34 years sober, shared with TIME the turning point that led him to quit drugs and alcohol for good. While cocaine had been his drug of choice, his decision to change came after the death of a 13-year-old boy, marking a pivotal moment in his life.
<h1 class="wp-block-heading">Life-Changing Funeral Of Young AIDS Victim: Ryan White</h1>
"It all came to a climax, really, at the Ryan White funeral in Indianapolis — a really sad and emotional week — and I came back to the hotel thinking I'm just so out of line," John <a href="https://time.com/7201151/icon-of-the-year-2024-elton-john/">told</a> TIME. "It was a shock to see how far down the scale of humanity I'd fallen."
White was one of the first children to be stricken with AIDS. He was diagnosed at 13 in December 1984 after a blood transfusion and told he had six months to live. He died six years later in April 1990. During those years, Ryan gained national attention and became the face of public education about the disease that had especially devastated the homosexual community.
Shortly after Ryan's death, John checked into Chicago's Parkside Lutheran Hospital in July 1990 and remained sober ever since.
"You make terrible decisions on drugs," John said who stopped his touring in 2023. &#8220;It really upsets me, thinking back on how many people I probably hurt."
John credits White and his family with saving his life.
"I knew that my lifestyle was crazy and out of order. And six months later, I got sober and clean and have been ever since," John <a href="https://www.pbs.org/newshour/arts/elton-john-credits-ryan-whites-family-with-saving-his-life">told</a> PBS in 2022. "I cannot thank them enough, because without them, I'd probably be dead." 
<h1 class="wp-block-heading">Throwing The Baby Out With The Bathwater?</h1>
John, like many who've gone off drugs and alcohol, often contends that it's all or nothing. In the singer&#8217;s case, he said marijuana is a gateway drug, a controversial theory that <a href="https://sites.newpaltz.edu/news/2017/09/latest-benjamin-center-brief-debunks-marijuana-gateway-fallacy/#:~:text=The%20Benjamin%20Center%20for%20Public,harder%20drugs%20is%20a%20myth.">has been debunked</a> in scientific circles.
"It's tough to tell someone that they're being an a—hole, and it's tough to hear," he says, saying that when it came to getting sober, "Eventually I made the choice to admit that I'm being an a—hole."&nbsp;
Photo: Courtesy of Shutterstock.

Cannabis

Entertainment

Elton John, TIME's 'Icon Of The Year,' Says Legalizing Cannabis 'Is Greatest Mistake Of All Time'

The market eagerly awaits Donald Trump&#8216;s first day in office as U.S. president, as his new tariffs could have a cascading effect on domestic industries as much as foreign nations.
A proposed 25% tariff on Canadian imports poses a considerable risk to the American Midwest, a region heavily reliant on <a href="https://www.benzinga.com/topic/canada">Canadian oil imports</a>.
Despite being the world&#8217;s largest oil producer, the U.S. depends on Canada for more than four million barrels of oil daily, much of which goes through Midwest refineries configured for heavier Canadian crude.
This type of oil is closer to heavy oil produced by heavily sanctioned countries like Venezuela or Russia and is different from lighter U.S. shale oil. BP's Whiting refinery in Indiana, which employs 1,800 people, has processed more than 57% of its 450,000 barrels per day capacity from Canadian sources.
"We import a lot of energy from Canada. Taxing that would raise costs and not help American jobs," former Commerce Secretary Wilbur Ross said <a href="https://www.youtube.com/watch?v=48FNiTdqZX0">for</a> CBC News. If tariffs go through, gasoline prices in the Midwest could jump as much as 10%, oil analyst Patrick De Haan estimated <a href="https://www.reuters.com/markets/commodities/trumps-proposed-tariffs-canada-would-drive-up-pump-prices-analysts-warn-2024-11-27/">per</a> Reuters.
The American Fuel and Petrochemical Manufacturers (AFPM) group <a href="https://www.afpm.org/newsroom/news/afpm-statement-potential-north-american-tariffs">cautioned against tariffs</a>, stating they could inflate costs, reduce accessible supplies and provoke retaliatory trade measures, further disrupting U.S. energy markets. Even refineries along the West Coast, better equipped for other crude types, would struggle to replace Canadian oil.
While tariffs would hurt both sides, Canada has been fortifying its position by strengthening its logistical chain. Trans Mountain pipeline expansion, in operation since May, has tripled its capacity to almost 900,000 barrels per day. With a strengthened capacity of up to 630,000 barrels per day reaching the coast of British Columbia, Canada is shielding itself from potential impact.
Thus, investors looking for opportunities in the Canadian oil sector might put the following companies on the watchlist.
Tourmaline Oil Corp (OTCPK: TRMLF) is the leading Canadian natural gas producer, with a notable crude oil production of over half a million barrels daily. While tariffs threaten natural gas exports, there are seven liquefied natural gas (LNG) and one infrastructure project in development in Canada. 
Tourmaline has healthy growth forecasts of 25.5%, boasts a good 34.75% margin, and trades at a reasonable 14.8x P/E ratio. The firm has a low debt-to-equity ratio of 10% and a notable 6.3% dividend.
Hemisphere Energy Corp (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/HMENF#OTCQX">HMENF</a>) is a junior petroleum and natural gas company in southeast Alberta specializing in conventional oil extraction. It has no debt, trades at a minuscule P/E ratio of 6x, and boasts a net profit margin of almost 38%. It pays an outstanding 8.6% dividend, but with a mere $127 million market cap, it is a rather speculative opportunity.
ETF investors can check the Global X Pipelines &amp; Energy Services Index (PPLN), which trades on the Toronto Stock Exchange.
Read Next: • <a href="https://www.benzinga.com/general/market-summary/24/12/42372053/europe-says-thanks-but-well-do-it-ourselves-canada-leads-in-raw-cannabis-exports-not-oil">Europe Says Thanks But We&#8217;ll Do It Ourselves &#8211; Canada Leads In Raw Cannabis Exports, Not Oil</a>
Photo: Shutterstock

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Eagle Point Credit Company Inc. Schedules Release of Third Quarter 2024 Financial Results on Thursday, November 14, 2024

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