ENCE Energia y Celulosa Stock (OTC: EEYCF)

Latest news for ENCE Energia y Celulosa (OTC:EEYCF) Stock

ENCE Energia y Celulosa SA produces and sells pulp. The company has two segments namely ENCE Pulp and ENCE Renewables. ENCE Pulp segment includes the pulp production and sale activities. ENCE Renewables segment involves Biomass, Biogas, Energy services and generation and sale of carbon credits. The vast majority of revenue comes from Pulp Segment.

ENCE ENERGIA Y CELSA by Ence Energia Y Celulosa SA

ENCE Energia y Celulosa SA

Hyundai Motor America (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) on Monday said that the company&#8217;s existing EV owners will get free adapters to charge on Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) supercharger network in the first quarter of 2025.
What Happened: The adapters will allow Hyundai EV owners to charge their vehicles at more than 20,000 Tesla superchargers in the U.S., the company said. Adapters will also be available to purchase at authorized dealers, it added.
Owners of the model year 2024 and earlier KONA electric, Ioniq, Ioniq 5, and Ioniq 6 as well as model year 2025 Ioniq 6, Ioniq 5N, and Kona electric will be eligible to get free adapters.
These vehicles have a Combined Charging System (CCS) charge port, necessitating the use of an adapter to charge on Tesla's supercharger network equipped with North American Charging Standard (NACS.)
Why It Matters: Hyundai USA&#8217;s model year 2025 Ioniq 5 comes with a NACS port, meaning it would not need an adapter to charge on Tesla&#8217;s supercharger network. 
In Oct. 2023, Tesla CEO Elon Musk <a href="https://www.benzinga.com/news/23/10/35347614/elon-musk-predicts-inevitable-adoption-of-this-tesla-tech-by-all-major-automakers-to-the-well-organi">expressed his conviction</a> that the widespread adoption of Tesla's North American charging standard (NACS) by&nbsp;<a href="https://www.benzinga.com/news/23/09/34338382/honda-joins-ford-gm-volvo-in-adopting-teslas-ev-charging-standard" target="_blank" rel="noreferrer noopener">all major automakers</a>&nbsp;is "inevitable."
Several automakers have signed up to adopt Tesla&#8217;s charging standard including Ford, General Motors, and Rivian Automotive. 
According to Tesla, <a href="https://www.benzinga.com/markets/equities/24/12/42505310/tesla-prepares-for-holiday-rush-tapping-into-global-supercharger-demand-to-drive-revenue-growth">its superchargers make up three of four fast chargers</a> in North America. 
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/24/12/42640472/tesla-exec-bemoans-cost-of-sending-letter-to-owners-affected-by-ev-giants-recent-recall-of-nearly-700000-vehicles" target="_blank" rel="noreferrer noopener">Tesla Exec Bemoans Cost Of Sending Letter To Owners Affected By EV Giant's Recent Recall Of Nearly 700,000 Vehicles</a></li>
</ul>
Photo courtesy: Tesla

News

Tech

HYMTF

TSLA

Tesla Supercharger Network Opens Up For Hyundai EV Owners Starting Q1 2025

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Bank of Japan Core Consumer Price Index (YoY) 1.7% Vs. 1.5% Est.; 1.5% Prior

Decentralized cryptocurrency exchange Hyperliquid (CRYPTO: HYPE) witnessed its biggest-ever single-day outflow on Monday after an investigation sounded alarm over the presence of North Korean hackers on the platform.
What Happened: Tay Monahan, a security expert at cryptocurrency wallet provider MetaMask, disclosed in an X post that hackers with ties to the&nbsp;Democratic People's Republic of Korea have been active on the platform since October.
Monahan shared the addresses of the alleged DPRK wallets and their activity on the platform, followed by a cheeky dig at HyperLiquid&#8217;s lack of seriousness about the situation. 
&#8220;Hyperliquid dudes dont seem worried at all though, so im sure its fine,&#8221; the security expert said. She stated that North Korean hackers typically trade on platforms to identify potential loopholes.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">DPRK&#39;s trading career is&#8230;uh&#8230;.going&#8230;..&#x1f648; tbh if i was the dude managing Hyperliquid&#39;s 4 validators (or those fucking ghetto ass binaries on gh) I would be shitting my pants right now. Hyperliquid dudes dont seem worried at all though so im sure its fine. &#x1fae0; <a href="https://t.co/JrrU7t1sJe">pic.twitter.com/JrrU7t1sJe</a>
&mdash; Tay &#x1f496; (@tayvano_) <a href="https://twitter.com/tayvano_/status/1870960207842701358?ref_src=twsrc%5Etfw">December 22, 2024</a></blockquote>
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A HyperLiquid core developer said in a <a href="https://www.bloomberg.com/news/articles/2024-12-23/crypto-exchange-s-outflows-swell-on-north-korean-trader-concern">statement </a>to Bloomberg that the team was aware of suspicious activity by DPRK-linked wallets but denied any exploit or loss of user funds.
But the FUD had already spread far and wide by then. Outflows from HyperLiquid hit an all-time high of $502 million on Monday, <a href="https://dune.com/entropy_advisors/hyperliquid-bridge-tvl">according </a>to Dune Analytics, as panic-stricken users rushed to move their funds out of the trading platform.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42665334/will-dogecoin-hit-the-widely-anticipated-1-target-in-q1-2025-probably-not-but-musk-led-doge-could-hold-the-key">Dogecoin &#8216;Parabolic Rally&#8217; In 2025 Foreseen By Popular Analyst If &#8216;History Repeats&#8217; Just Like In 2017, 2021</a>
Why It Matters: This incident comes amid growing fears over threats posed by cybercriminals allegedly backed by the North Korean government. 
Hackers from the &#8220;Hermit Kingdom&#8221; <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42611171/kim-jong-uns-north-korea-linked-hackers-steal-13b-in-bitcoin-and-other-cryptocurrencies-in-2024-report">stole a staggering $1.3 billion in cryptocurrencies</a> in 2024, accounting for more than half of their total $2.2 billion in global thefts.
Significant&nbsp;incidents this year <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42258615/japans-dmm-bitcoin-shuts-down-amid-320m-fraud-plans-to-transfer-assets-to-sbi-group#:~:text=Japan's%20DMM%20Bitcoin%20Shuts%20Down,(OTC%3ASBHGF)%20%2D%20Benzinga">included the&nbsp;theft of $300 million</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) from&nbsp;DMM Bitcoin&nbsp;in Japan and <a href="https://in.benzinga.com/content/39853537/beyond-our-control-wazir-xs-multimillion-dollar-crypto-hack-may-have-links-to-north-korea">nearly $235 million</a> from&nbsp;WazirX&nbsp;in India.
The report also pointed out that a significant portion of the stolen crypto was due to compromised private keys, crucial for controlling access to user assets on crypto platforms. This highlights the crypto industry&#8217;s need to address the evolving threat landscape, especially in light of the recent Hyperliquid outflows.
Price Action: At the time of writing, HYPE, HyperLiquid&#8217;s native cryptocurrency was surprisingly unaffected, up over 11% 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 Wikimedia Commons
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42665004/robinhood-ceo-says-open-to-holding-bitcoin-for-investment-purposes-but-it-could-complicate-things-for-investors">Robinhood CEO Vlad Tenev Says Open To Holding Bitcoin For Investment Purposes But It Could &#8216;Complicate&#8217; Things For Investors</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

$BTC

North Korean Hackers' Suspected Presence Triggers Over $500 Million In Outflows From Crypto Exchange

Elon Musk&#8216;s artificial intelligence company xAI announced on Monday it has secured $6 billion in Series C funding from major technology and financial institutions, marking its second <a href="https://www.benzinga.com/tech/24/12/42358400/elon-musks-xai-raises-6b-for-the-2nd-time-this-year-as-it-looks-to-take-the-challenge-to-openai-google-and-jeff-bezos-backed-anthropic">major funding round this year</a>. 
What Happened: The investment includes strategic participation from NVIDIA Corp. and Advanced Micro Devices, Inc., alongside financial giants BlackRock, Inc. and Morgan Stanley.
The funding will support xAI&#8217;s ambitious expansion of its Colossus supercomputer, which currently operates with 100,000 Nvidia Hopper GPUs. The company plans to double this capacity to 200,000 GPUs using Nvidia&#8217;s Spectrum-X Ethernet networking platform.
Since its founding in July 2023, xAI has rapidly grown to a <a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">reported valuation of $50 billion</a>, positioning itself as a significant competitor to OpenAI, which is valued at $157 billion. The company&#8217;s growth has outpaced other AI startups including Anthropic ($19 billion valuation) and Perplexity ($2.8 billion valuation).
See Also: <a href="https://www.benzinga.com/24/12/42665033/tesla-shorts-gordon-johnson-and-james-chanos-express-skepticism-on-robotaxi-potential-as-usage-data-sparks-debate">Tesla Shorts, Gordon Johnson, And James Chanos Express Skepticism On Robotaxi Potential Amid Usage Data Debate: The &#8216;Promise&#8217; Worth Much More Than Reality</a>
Why It Matters: The funding announcement coincides with xAI&#8217;s expansion of its <a href="https://www.benzinga.com/24/12/42645821/elon-musks-xai-expands-with-new-chatbot-app">chatbot Grok&#8217;s availability</a>. Previously exclusive to paying subscribers of X, formerly known as Twitter, Grok is now being tested as a standalone iOS app and will be accessible through Grok.com. The chatbot features real-time web access and generative AI capabilities, including text rewriting and image generation.
Additional investors in the round include Andreessen Horowitz, Fidelity Management &amp; Research Company, Kingdom Holdings, Lightspeed, Sequoia Capital, and several sovereign wealth funds. According to an SEC filing, the minimum investment in this round was $77,593, with <a href="https://www.benzinga.com/tech/24/12/42358400/elon-musks-xai-raises-6b-for-the-2nd-time-this-year-as-it-looks-to-take-the-challenge-to-openai-google-and-jeff-bezos-backed-anthropic">nearly 97 investors participating</a>.
The funds will support xAI&#8217;s continued development of advanced AI systems, including Grok 3, which is currently in training. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42665216/sam-altman-backed-nuclear-power-startup-oklo-receives-outperform-rating-from-wedbush-amid-ai-revolution-buzz">Sam Altman-Backed Nuclear Power Startup Oklo Receives Outperform Rating From Wedbush Amid &#8216;AI Revolution&#8217; Buzz</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.

Short Sellers

Startups

Elon Musk's xAI Secures $6 Billion In Series C Funding To Expand Colossus Supercomputer, Attracts Investments From Nvidia And BlackRock

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 has relaunched its Pixel Referral Program, offering users the chance to earn up to $500 in store credit for recommending a Pixel phone to friends and family.
What Happened: Those who have received an email to participate in the referral program are all set to join, while others can expect eligibility to expand in the future.
According to Google&#8217;s landing page, participants can distribute up to 10 referral codes to friends and family, who will receive a 10% discount on the highest-value Pixel phone in their cart. The code giver will earn a $50 Google Store credit.
See Also: <a href="https://www.benzinga.com/tech/24/12/42610669/mkbhds-smartphone-of-the-year-2024-is-here-and-apple-fans-wont-be-happy?itm_source=parsely-api">MKBHD&#8217;s Smartphone Of The Year 2024 Is Here, And Apple Fans Won&#8217;t Be Happy</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23231355/Screenshot-2024-12-24-at-9.43.41%E2%80%AFAM-1024x618.png" alt="" class="wp-image-705212" /><figcaption class="wp-element-caption">Source: <a href="https://store.google.com/ideas/pixel-referrals/">Google</a></figcaption></figure>
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Each referral code is single-use and cannot be applied during peak times like Black Friday. The total reward is capped at $500, paid in Google Store credit after the referred purchase surpasses the return period of 15 days.
The offer is expected to conclude on June 30, 2025. However, at the time of writing, clicking the &#8220;Refer your friends&#8221; option led to a 404 error page. It was briefly visible on the U.S. Google Store and <a href="https://www.androidauthority.com/google-pixel-referral-rewards-program-3511055/">spotted</a> by 9to5Google.
An October report by Counterpoint Research suggested that the third quarter of 2024 saw the highest-ever quarterly sales for Google Pixel.
Price Action: According to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>, Alphabet's Class A shares increased by 1.68% on Monday, finishing at $194.63, while Class C shares rose 1.57%, closing at $195.99.
Image Credits &#8211; Google
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/12/42569744/apple-reportedly-in-talks-with-tencent-tiktok-parent-bytedance-to-roll-out-ai-features-in-china?itm_source=parsely-api">Apple Reportedly In Talks With Tencent, TikTok-Parent ByteDance To Roll Out AI Features In China</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.

GOOG

GOOGL

Want $500 In Google Store Credit? Here's What You Need To Do

Dog-themed cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) could be in for a &#8220;parabolic rally&#8221; if history is repeated, an influential cryptocurrency expert said Monday.
What happened: The world's largest meme coin was up over 3% in the last 24 hours, part of a broader rally in which altcoins gained significantly.
Popular on-chain analyst and trader Ali Martinez connected Dogecoin&#8217;s ongoing moves with what transpired in 2017 and 2021. 
&#8220;In 2017, when Dogecoin began a parabolic run, it surged 212%, retraced 40%, then rallied 5,000%. In 2021, it went up 476%, retraced 56%, then skyrocketed 12,000%,&#8221; Martinez said.
The meme coin has followed a similar trajectory in 2024 and retraced sharply in recent days. &#8220;If history repeats, another parabolic rally is on the way,&#8221; the analyst expected.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In 2017, when <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> began a parabolic run, it surged 212%, retraced 40%, then rallied 5,000%. In 2021, it went up 476%, retraced 56%, then skyrocketed 12,000%. Now, in 2024, <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> is up 440% and has retraced by 46%. If history repeats, another parabolic rally is on the way! <a href="https://t.co/uhf2kMc0Id">pic.twitter.com/uhf2kMc0Id</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1871097660888813871?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/12/42640293/trump-congratulates-bitcoiners-on-new-all-time-highs-as-apex-crypto-suffers-first-weekly-loss-since-election-triumph">Trump Congratulates Bitcoin Community On New All-Time Highs Just As Top Crypto Suffers First Weekly Loss Since His Election Triumph</a>
The Story Thus Far: Like the rest of the cryptocurrency market, DOGE has cheered the victory of Donald Trump as president, and since election day, the meme coin has soared 192%.
Tech mogul Elon Musk, who aggressively campaigned for Trump, has been<a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37388549/i-will-keep-supporting-dogecoin-said-elon-musk-one-summer-heres-how-much-doge-has-gained-s"> DOGE&#8217;s most prominent celebrity backer</a> in recent years, and casual mentions by the Tesla CEO have caused the coin to spike in minutes.
Additionally, the establishment of the Musk-led <a href="https://www.benzinga.com/news/24/11/41965420/elon-musk-vivek-ramaswamy-led-department-of-government-efficiency-opens-account-on-x-says-it-is-working-overtime">Department of Government Efficiency</a>, popularly known as DOGE, has provided further impetus to the coin.&nbsp;
With the new Trump administration set to take over in 2025, developments around the newly constituted department are anticipated to accelerate, creating greater potential for price increases.
Additionally, there were expectations of capital rotation into altcoins from Bitcoin during the holiday season.
Popular on-chain analytics firm Glassnode <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42500189/could-altcoins-outshine-bitcoin-in-holiday-rally">stated that Bitcoin dominance has turned bearish</a>, paving the way for altcoins to grow at a faster rate.&nbsp;
Will DOGE Hit $1 In Q1 2025? In 2024, DOGE has grown 258%, hitting a yearly peak of $0.4357. As of this writing, the coin was still 56% away from its all-time high of $0.7316.
A target of $1 would require the coin to surge 211% from its prevailing price of $0.32. Given that it showed enough promise even before the formation of DOGE, one wouldn't rule out $1 as a realistic price target in 2025.
However, the likelihood of this happening in the first quarter of 2025 looked unlikely.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42640482/dogecoin-flips-into-the-green-as-trump-appoints-longtime-loyalist-katie-miller-to-join-the-department-of-government-efficiency">Dogecoin Turns Green As Trump Appoints Loyalist Katie Miller To The Department Of Government Efficiency</a></li>
</ul>

Markets

Movers

Trading Ideas

$DOGE

Dogecoin 'Parabolic Rally' In 2025 Foreseen By Popular Analyst If 'History Repeats' Just Like In 2017, 2021

OpenAI CEO Sam Altman-backed nuclear power startup Oklo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NASDAQ">OKLO</a>) received an outperform rating from Wedbush Securities, marking another milestone in its push to power the artificial intelligence revolution through advanced nuclear technology.
What Happened: Wedbush analyst Dan Ives set a $26 price target for Oklo, citing the company&#8217;s strategic position to capitalize on surging energy demands from data centers. &#8220;With the AI revolution underway, the industry will need roughly a tenfold increase in computing power by 2030,&#8221; Ives wrote in his Thursday <a href="https://www.investors.com/news/nuclear-stocks-sam-altman-oklo-data-center-deal/">note</a>, according to Investor&#8217;s Business Daily.
The rating follows Oklo&#8217;s Wednesday announcement of an agreement to supply up to 12 gigawatts of nuclear power to Switch, an AI provider and data center operator, through 2044. The company plans to develop, construct, and operate powerhouses across the United States, with its first Aurora reactor <a href="https://www.benzinga.com/insights/options/24/12/42601289/spotlight-on-oklo-analyzing-the-surge-in-options-activity">expected to be operational by 2027</a>.
See Also: <a href="https://www.benzinga.com/24/12/42664762/after-investing-nearly-14-billion-in-openai-microsoft-reportedly-moves-to-reduce-its-dependence-on-chatgpt-parent">Microsoft Invested Nearly $14 Billion In OpenAI But Now Its Reducing Its Dependence On The ChatGPT-Parent: Report</a>
Why It Matters: Oklo&#8217;s shares have surged approximately 100% in 2024, despite a 9% December decline. The stock&#8217;s momentum aligns with broader <a href="https://www.benzinga.com/partner/commodities/24/11/42188152/amazon-google-and-microsoft-bet-big-on-nuclear-ais-growing-energy-demands-fuel-new-projects">nuclear energy sector gains</a>, sparked by Constellation Energy Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) September deal to power Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) data centers.
According to McKinsey &amp; Co., data center energy demand is projected to grow from 4% to 11-12% of total U.S. energy consumption by 2030. This surge has attracted major tech companies, with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) all investing in small modular reactor technology.
While Oklo forecasts a full-year operating loss of $40-50 million, its customer pipeline has grown significantly, reaching approximately 2,100 megawatts by the third quarter of 2024. 
Price Action: Oklo stock closed at $22.02 on Monday, up 2.32% for the day. In after-hours trading, the stock dipped to $22.00. Year to date, Oklo shares have surged by 107.74%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Oklo has a <a href="https://www.benzinga.com/quote/OKLO/analyst-ratings">consensus price target</a> of $15.33 from 4 analysts, with a high of $26 and a low of $10. The most recent ratings from Wedbush, Citigroup, and B. Riley Securities imply a downside of 30.30% from the average target.
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Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42665033/tesla-shorts-gordon-johnson-and-james-chanos-express-skepticism-on-robotaxi-potential-as-usage-data-sparks-debate">Tesla Shorts, Gordon Johnson, And James Chanos Express Skepticism On Robotaxi Potential Amid Usage Data Debate: The &#8216;Promise&#8217; Worth Much More Than Reality</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.

Equities

AMZN

MSFT

OKLO

ORCL

Sam Altman-Backed Nuclear Power Startup Oklo Receives Outperform Rating From Wedbush Amid 'AI Revolution' Buzz

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) highly anticipated M4 MacBook Air could arrive ahead of schedule.
What Happened: On Monday, Bloomberg columnist Mark Gurman, who has a strong track record of predicting Apple's moves, gave an update.
He said that while the new entry-level iPads (11th generation), iPhone SE, and refreshed iPad Air models are slated for a spring release, the M4 MacBook Air is now anticipated to be available sooner.
See Also: <a href="https://www.benzinga.com/media/24/12/42640232/apple-airpods-to-get-heart-rate-temperature-sensors-and-cameras-to-help-with-ai-features-top-analyst">Apple AirPods To Get Heart Rate, Temperature Sensors, And Cameras To Help With AI Features: Top Analyst</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As I wrote in October, new entry level iPads (J481 and J482) are coming in the spring. iPhone SE, new iPad Air are on the same general timeline. The M4 MacBook Air will be earlier. <a href="https://t.co/0tUlePyFRZ">https://t.co/0tUlePyFRZ</a>
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1871298143494795319?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
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Gurman had previously reported that the new M4 MacBook Air models, available in both 13-inch and 15-inch sizes, will largely resemble their 2022 predecessors. The models were expected to launch following a December software update between January and March.
The analyst had also reported that Mac Studio has been delayed slightly.
Apple did not immediately respond to <a href="https://benzinga.grsm.io/lxquj26b2sag">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: In October 2024, Apple announced fiscal <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a> of $94.9 billion, surpassing analyst predictions of $94.56 billion.
Mac revenue totaled $7.74 billion, slightly up from $7.61 billion in the previous year.
In the <a href="https://www.benzinga.com/news/24/04/38211401/apple-in-ai-arms-race-looks-to-revamp-lagging-mac-sales-report">fourth quarter of 2023</a>, Mac sales reflected a 34% decline from $11.5 billion in the same period the previous year. For the full year of 2023, Mac&#8217;s revenue totaled $29.4 billion, compared to $40.2 billion in 2022.
Price Action: Apple shares have risen 37.51% year-to-date. In after-hours trading, the stock dipped by 0.13%, reaching $254.95 at the time of publication, as reported by <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
Photo by Isaac Martin on Unsplash
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.&nbsp;
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42495579/lawmakers-demand-apple-and-google-remove-tiktok-by-jan-19-what-you-need-to-know?itm_source=parsely-api">Apple, Google Directed To Remove TikTok From Respective App Stores By Jan 19: Here's What You Need To Know</a></li>
</ul>

Media

AAPL

New M4 MacBook Air Could Be Available Sooner Than Expected: Top Apple Analyst

Honda Motor Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNDAF#OTC">HNDAF</a>) shares soared nearly 13.55% in Tokyo trading on Tuesday, marking their biggest one-day gain since 2008, after the Japanese automaker announced a massive share buyback plan and <a href="https://www.benzinga.com/24/12/42642773/honda-nissan-start-merger-talks">confirmed merger discussions</a> with Nissan Motor Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>).
While Honda shares jumped on the Tokyo exchange to 1,452 Japanese yen, Nissan stock declined marginally by 0.22% to 449 Japanese yen in Tuesday trading. U.S.-listed Honda Motor Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) traded higher on Monday, closing at $26.93, up 12.72% for the day. In after-hours trading, the stock rose by an additional 2.94%.
Honda plans to repurchase up to 1.1 trillion yen ($7 billion) worth of shares, representing about 24% of its outstanding stock, by December 2025. The buyback significantly exceeds its previous November plan to acquire 100 billion yen in shares.
The two Japanese auto giants confirmed they have entered formal negotiations to merge operations, which could create the world&#8217;s third-largest automaker by sales volume. 
The companies expect to conclude merger discussions by June 2025. Mitsubishi Motors Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MMTOF#OTC">MMTOF</a>), Nissan&#8217;s existing strategic partner, has until January to decide whether to join the combined entity.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42664887/apples-near-term-success-will-be-driven-by-strong-holiday-season-iphone-16-says-dan-ives-analyst-sees-stock-hitting-300-cupertino-hitting-4-trillion-marketcap">Apple&#8217;s Near Term Success Will Be Driven By Strong Holiday Season, iPhone 16, Says Dan Ives — Analyst Sees Stock Hitting $300, Cupertino Hitting $4 Trillion Marketcap</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.

Asia

HNDAF

MMTOF

NSANY

Honda Stock Surges Nearly 14% On Buyback, Merger Talks With Nissan

Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) robotaxi ambitions face fresh skepticism from prominent market critics, with new data from New York City&#8217;s ride-sharing market fueling debate about the technology&#8217;s revenue potential.
What Happened: GLJ Research analyst Gordon Johnson argued on social media platform X that Tesla shorts would benefit from robotaxi approval, stating the &#8220;promise is worth much, much more than the reality.&#8221; 
His comments came alongside data shared by veteran short-seller James Chanos, President and Managing Partner, Chanos and Company showing New York City&#8217;s daily ride-sharing usage averages 768,000 trips, or roughly three rides per capita monthly.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The VERY best thing that can happen for <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> shorts is for robotaxis to be approved, and for the economics to be come clear to all. The &quot;promise&quot; is worth MUCH, MUCH more than the &quot;reality&quot;. <a href="https://t.co/r1XUr24dRd">https://t.co/r1XUr24dRd</a>
&mdash; Gordon Johnson (@GordonJohnson19) <a href="https://twitter.com/GordonJohnson19/status/1871218869567914083?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
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The skepticism contrasts sharply with bullish forecasts from leading Tesla analysts. Wedbush Securities&#8216; Dan Ives, who maintains a Street-high price target of $515, values Tesla&#8217;s autonomous business at $1 trillion and projects robotaxis could capture 20% of ride-shares by 2030.
Gary Black, Managing Partner at The Future Fund LLC, takes a more measured stance with a $380 target. Black recently questioned Tesla owners&#8217; willingness to add their vehicles to a robotaxi fleet, despite potential earnings of $40,000 annually per vehicle based on his <a href="https://www.benzinga.com/24/12/42642606/elon-musk-wants-to-raise-a-tesla-fleet-expert-estimates-vehicle-owners-can-make-40kyear-but-remains-doubtful">calculations of 25 daily trips at $1 per mile</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42664887/apples-near-term-success-will-be-driven-by-strong-holiday-season-iphone-16-says-dan-ives-analyst-sees-stock-hitting-300-cupertino-hitting-4-trillion-marketcap">Apple&#8217;s Near Term Success Will Be Driven By Strong Holiday Season, iPhone 16, Says Dan Ives — Analyst Sees Stock Hitting $300, Cupertino Hitting $4 Trillion Marketcap</a>
Why It Matters: Uber Technologies CEO Dara Khosrowshahi has also expressed doubts about Tesla&#8217;s robotaxi strategy, citing challenges in fleet management and customer service that differ <a href="https://www.benzinga.com/news/24/08/40299293/uber-ceo-dara-khosrowshahi-doubts-teslas-robotaxi-fleet-management-plans-but-maintains-hope-for-part">significantly from vehicle manufacturing</a>.
Tesla <a href="https://www.benzinga.com/markets/equities/24/12/42575664/tesla-reportedly-in-talks-with-austin">reportedly plans to launch its ride-hail service</a> in Texas and California in 2025, pending regulatory approval. The company is in early talks with Austin authorities for autonomous vehicle testing.
The electric vehicle maker&#8217;s stock has gained 71% year-to-date, with Morgan Stanley naming it their top pick for 2025. According to Benzinga Pro, Tesla currently has a <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">consensus price target</a> of $280.41 from 33 analysts, with recent ratings from Baird, Mizuho, and Goldman Sachs averaging $446.67.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23212242/Screenshot-2024-12-24-at-7.51.57%E2%80%AFAM-1024x378.png" alt="" class="wp-image-705130" /></figure>
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<li><a href="https://www.benzinga.com/24/12/42664762/after-investing-nearly-14-billion-in-openai-microsoft-reportedly-moves-to-reduce-its-dependence-on-chatgpt-parent">Microsoft Invested Nearly $14 Billion In OpenAI But Now Its Reducing Its Dependence On The ChatGPT-Parent: Report</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.

Tesla Shorts, Gordon Johnson, And James Chanos Express Skepticism On Robotaxi Potential Amid Usage Data Debate: The 'Promise' Worth Much More Than Reality

Robinhood Markets Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) CEO Vladimir Tenev said Monday that the company doesn&#8217;t rule out the prospect of holding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) on the balance sheet for investment purposes, but there are some factors to consider.
What Happened: In an interview with Anthony Pompliano, a well-known cryptocurrency advocate, Tenev indicated that the idea came up due to the company&#8217;s growing involvement in the cryptocurrency space.
He said that the company buys cryptocurrencies for its core trading business. &#8220;We have to do the work of accounting for it, and it&#8217;s essentially on the balance sheet anyway, so there&#8217;s a real reason for it,&#8221; the CEO added.
On the question of solely holding Bitcoin for investment purposes, Tenev argued that this could possibly &#8220;complicate&#8221; things for public market investors. &#8220;You&#8217;re thinking about RobinHood as a company, generally speaking. Not like it complicates the picture to think of it as like a company, but also this quasi-Bitcoin holding play.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I sat down with Robinhood CEO <a href="https://twitter.com/vladtenev?ref_src=twsrc%5Etfw">@vladtenev</a> to discuss the company&#39;s growth, their new crypto product, whether they will put bitcoin on their balance sheet, how financial markets are evolving, changes in regulation, and the future of the company. YouTube: <a href="https://t.co/CcvzTrI5qV">https://t.co/CcvzTrI5qV</a>… <a href="https://t.co/u79l0pE9bS">pic.twitter.com/u79l0pE9bS</a>
&mdash; Anthony Pompliano &#x1f32a; (@APompliano) <a href="https://twitter.com/APompliano/status/1871264913823350907?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
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Tenev emphasized that Robinhood stock is already highly correlated to Bitcoin even without the firm holding the asset on its books.
&#8220;So I would say we wouldn&#8217;t rule it out. We haven&#8217;t done it thus far but those are the kind of considerations we have,&#8221; he added.
See Also:&nbsp;<a href="https://www.benzinga.com/government/regulations/24/12/42658143/exclusive-insights-founders-of-polygon-skybridge-custodia-wonderfi-cardone-bullish-on-btc-in-2025">Exclusive Insights: Founders Of Polygon, SkyBridge, Custodia, WonderFi &amp; Cardone Bullish On BTC in 2025</a>
Why It Matters: The remarks by the CEO come amid sharp growth in the company&#8217;s cryptocurrency arm. 
Robinhood reported a twofold <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41643195/robinhood-crypto-volumes-double-in-q3-october-number-set-to-exceed-quarterly-average-at-5b">surge in cryptocurrency volumes </a>in the third quarter. The surge in volumes helped power cryptocurrency-related revenue by 165% year-over-year.
Robinhood also held $19.45 billion worth of user cryptocurrencies as part of a safeguarding obligation.
Price Action: At the time of writing, Bitcoin was exchanging hands at $93,903.34, down 0.09% 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>.&nbsp; 
Shares of Robinhood closed 2.17% lower at $37.50 during Monday&#8217;s regular session. The stock has a consensus price target of  $38.19 based on the ratings of 16 analysts. The highest is $55, issued by Morgan Stanley on Nov. 25, and the lo<a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">https://www.benzinga.com/quote/HOOD/analyst-ratings</a>w is $11, issued by Barclays on Feb. 14.
Courtesy of Robinhood Markets, Inc.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42660092/microstrategy-sinks-after-nasdaq-100-inclusion-bitcoin-bet-under-fire">MicroStrategy Sinks After Nasdaq 100 Inclusion: Bitcoin Bet Under Fire?</a></li>
</ul>

HOOD

Robinhood CEO Vlad Tenev Says Open To Holding Bitcoin For Investment Purposes But It Could 'Complicate' Things For Investors

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is on track to become the first company to reach a $4 trillion market capitalization by &#8220;early 2025,&#8221; driven by strong iPhone sales and artificial intelligence innovations, according to Wedbush Securities analyst Dan Ives.
What Happened: The tech giant&#8217;s shares have surged nearly 40% since January, closing at $255 per share on Monday with a market cap of $3.86 trillion. This performance puts Apple ahead of rivals NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) at $3.35 trillion and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) at $3.22 trillion.
Recent supply chain checks in Asia indicate robust iPhone 16 upgrade trends heading into the Christmas season. &#8220;We believe the success of iPhone 16 with a strong holiday season ahead over the next week will be the launchpad for a renaissance of growth in Cupertino over the next 12 to 18 months,&#8221; Ives wrote in a weekend report, according <a href="https://nypost.com/2024/12/23/business/apple-poised-to-hit-4t-valuation-thanks-to-iphone-sales/">to</a> New York Post.
Apple&#8217;s recent iOS 18.2 update showcases its AI ambitions, introducing features like Visual Intelligence for text summarization and Image Playground for generating original images. These enhancements are exclusive to iPhone 15 Pro and iPhone 16 users.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/TozS00Mqgy">https://t.co/TozS00Mqgy</a> Dan Ives forecast that Apple's stock will eclipse the $300 per share plateau within the next 12 months and that the company's market capitalization will blow past $4 trillion "by early 2025." <a href="https://twitter.com/nypost?ref_src=twsrc%5Etfw">@nypost</a> &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f384;&#x1f34f;&#x1f34e;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1871277919118496164?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42660092/microstrategy-sinks-after-nasdaq-100-inclusion-bitcoin-bet-under-fire">MicroStrategy Sinks After Nasdaq 100 Inclusion: Bitcoin Bet Under Fire?</a>
Why It Matters: The company&#8217;s renewed focus on AI appears to be paying off. Apple reported iPhone sales of $46.22 billion in its fiscal fourth quarter, marking a 6% year-over-year increase and reversing two consecutive quarters of decline.
Despite its strong position, Apple faces industry challenges. The company&#8217;s revenue growth of 6.07% lags behind the technology hardware sector average of 21.95%, <a href="https://www.benzinga.com/insights/news/24/12/42592861/in-depth-analysis-apple-versus-competitors-in-technology-hardware-storage-amp-peripherals-industry">according to Benzinga data</a>. However, Apple maintains superior profitability metrics, with its EBITDA of $32.5 billion significantly exceeding industry averages.
The stock&#8217;s current price-to-earnings ratio of 40.8 suggests potential undervaluation compared to industry peers, even as the company strengthens its AI capabilities through partnerships, including a recent collaboration with NVIDIA to enhance <a href="https://www.benzinga.com/24/12/42568204/nvidia-and-apple-team-up-to-supercharge-llms-with-redrafter-technique">large language model performance</a>.
Price Action: Apple stock closed at $255.27 on Monday, up 0.31% for the day. In after-hours trading, the stock edged down 0.13%. Year to date, Apple shares have surged by 37.51%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Apple has a <a href="https://www.benzinga.com/quote/AAPL/analyst-ratings">consensus price target</a> of $242.26 from 31 analysts, with a high of $300 by Wedbush and a low of $180 by DZ Bank. The most recent ratings from Morgan Stanley, Needham, and Wedbush set an average target of $277.67, implying an 8.91% upside for the stock.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23202742/Screenshot-2024-12-24-at-6.57.03%E2%80%AFAM-1024x376.png" alt="" class="wp-image-705096" style="width:695px;height:auto" /></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.

NVDA

Apple's Near Term Success Will Be Driven By Strong Holiday Season, iPhone 16, Says Dan Ives — Analyst Sees Stock Hitting $300, Cupertino Hitting $4 Trillion Marketcap

The U.S. stock market ended in the green on Monday. The Nasdaq Composite gained over 100 points, reflecting a nearly 1% increase to 19,764.88. Meanwhile, the Dow Jones Industrial Average saw an increase of 0.2%, closing at 42,906.95. The S&amp;P 500 also experienced a rise, gaining 0.7% to reach 5,974.07.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
NVIDIA Corporation
NVIDIA shares rose by 3.69%, closing at $139.67. The stock reached an intraday high of $139.79 and a low of $135.12, with a 52-week range between $47.32 and $152.89. The increase follows the Biden administration&#8217;s announcement of a&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42660079/nvidia-shares-are-on-the-rise-today-whats-going-on">trade investigation</a>&nbsp;into China&#8217;s semiconductor industry, focusing on &#8220;legacy&#8221; semiconductors, which could result in higher U.S. tariffs.
Taiwan Semiconductor Manufacturing Company Ltd.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42638957/warren-buffetts-timeless-advice-if-youre-gonna-do-dumb-things-because-your-stock-goes-down-you-shouldnt-own-a-stock-at-all?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett's Timeless Advice For Investing $10,000: &#8216;If You're Gonna Do Dumb Things Because Your Stoc</a>
Taiwan Semiconductor&#8217;s stock climbed 5.15% to close at $207.36, with an intraday high of $208.05 and a low of $200.91. The 52-week range is $98.8 to $212.6. The stock&#8217;s rise is attributed to the U.S.&nbsp;<a href="https://www.benzinga.com/24/12/42661821/taiwan-semiconductor-shares-are-up-today-whats-going-on">trade probe</a>&nbsp;into China&#8217;s semiconductor policies, potentially leading to increased tariffs on Chinese components.
Advanced Micro Devices, Inc.
AMD shares increased by 4.52%, ending the day at $124.60. The stock&#8217;s intraday high was $126.34, with a low of $120.47, and a 52-week range of $117.91 to $227.30. Analysts, including Steve Frankel, have maintained a <a href="https://www.benzinga.com/24/12/42657620/amd-and-micron-top-analyst-picks-for-ai-and-next-gen-tech-growth">positive outlook</a> on AMD, citing its potential in AI and next-gen tech growth.
Rumble Inc.
Rumble&#8217;s stock surged by 81.22%, closing at $13.03, with a high of $14.63 and a low of $9.66. The 52-week range is $3.33 to $14.63. The significant rise follows Rumble&#8217;s announcement of a <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42650642/rumble-stock-is-ripping-higher-monday-whats-going-on">strategic investment</a> from Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), amounting to $775 million.
Tesla Inc.
Tesla shares rose by 2.27%, closing at $430.60. The stock&#8217;s intraday high was $434.51, with a low of $415.41, and a 52-week range of $138.8 to $488.54. Concerns have been raised about the potential impact of the cancellation of the $7,500 <a href="https://www.benzinga.com/24/12/42641207/researcher-says-cancelation-of-7500-ev-tax-credit-could-impact-teslas-deliveries-despite-ceo-elon-musk-claiming-otherwise">EV tax credit</a> on Tesla&#8217;s U.S. deliveries.
Image via Shutterstock
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>

$USDT

Nvidia, Taiwan Semiconductor, AMD, Rumble, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is reportedly planning to <a href="https://www.benzinga.com/24/12/42428505/google-asks-ftc-to-kill-microsofts-monopoly-over-hosting-openai-technology-on-its-cloud-servers-report">reduce its dependence</a> on ChatGPT-maker OpenAI.
What Happened: Microsoft has been working on integrating internal and third-party artificial intelligence models into its AI product, Microsoft 365 Copilot, reported Reuters, citing sources familiar with the effort.
This move is a strategic step to diversify from the current underlying technology of OpenAI and reduce costs.
The Satya Nadella-led company is also decreasing 365 Copilot&#8217;s dependence on OpenAI due to concerns about cost and speed for enterprise users, the report noted, citing the sources.
See Also: <a href="https://www.benzinga.com/markets/24/12/42642020/steve-ballmers-bold-investment-strategy-80-of-his-portfolio-is-in-microsoft-stock-heres-why-his-keep-it-simple-approach-is-winning-big?itm_source=parsely-api">Steve Ballmer&#8217;s Winning Investment Strategy: Billionaire Says &#8216;Keep It Simple&#8217; As His Microsoft Bet Pays Off Thanks To AI Boom</a>
A Microsoft spokesperson was quoted in the report saying that OpenAI continues to be the company&#8217;s partner on frontier models. &#8220;We incorporate various models from OpenAI and Microsoft depending on the product and experience.&#8221;
OpenAI and Microsoft did not immediately respond to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga's</a> request for comments.
Microsoft 365 Copilot is reportedly yet to prove its return on investment to enterprises. The tech giant has not shared specific sales data on the number of licenses sold.
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Why It Matters: This move mirrors those of other Microsoft business units which have altered the ways they use OpenAI models. For instance, GitHub, <a href="https://www.benzinga.com/news/23/11/35623886/microsofts-github-poised-for-growth-with-ai-tools-analyst-sees-5b-arr-potential">acquired by Microsoft</a> in 2018, added models from Anthropic and 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 in October as alternatives to OpenAI's GPT-4.
Previously it was reported that company insiders were concerned about Microsoft&#8217;s AI strategy being <a href="https://www.benzinga.com/news/24/03/37605368/is-microsoft-turning-into-it-for-openai-insiders-say-tech-giants-ai-strategy-is-overly-reliant-on-ch">heavily reliant on its partnership</a> with OpenAI.
In October, the two companies engaged in talks to decide how Microsoft's $14 billion investment in OpenAI would be <a href="https://www.benzinga.com/news/24/10/41407196/openais-for-profit-structure-adds-valuation-complexity-to-microsoft-and-other-equity-investors-repor">converted into equity</a> in the AI firm.
OpenAI plans to <a href="https://www.benzinga.com/24/12/42382569/elon-musk-asks-was-it-ever-not-a-lie-as-he-accuses-openai-of-selling-out-to-microsoft-and-betraying-its-founding-mission">remove a clause that restricts</a> Microsoft&#8217;s access to its most advanced AI models upon achieving artificial general intelligence, according to a report published in December.
Price Action: Microsoft&#8217;s stock fell 0.31% on Monday, closing at $435.25. However, year-to-date, the shares have risen by 17.36%, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Photo via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42633922/qualcomm-bags-win-in-chips-licensing-trial-against-arm-but-the-battle-is-not-over-yet?itm_source=parsely-api">Qualcomm Bags Win In Chips Licensing Trial Against Arm, But The Battle Is Not Over Yet</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.

Microsoft Invested Nearly $14 Billion In OpenAI But Now Its Reducing Its Dependence On The ChatGPT-Parent: Report

Bitcoin moved sideways while the altcoin market rallied significantly on Monday as traders pivoted away from the leading cryptocurrency ahead of Christmas.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.37%</td>
<td>$94,282.97</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>+4.35%</td>
<td>$3,405.60</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>+4.51%</td>
<td>$0.3227</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin remained choppy, oscillating between the $92,000-$96,000 zone. The sideways movement comes a day after the apex cryptocurrency<a href="https://www.benzinga.com/24/12/42640293/trump-congratulates-bitcoiners-on-new-all-time-highs-as-apex-crypto-suffers-first-weekly-loss-since-election-triumph"> closed at a weekly loss for the first time</a> since Donald Trump's election victory last month.
Investors shifted their capital to Ethereum and the rest of the altcoin market. The world&#8217;s largest cryptocurrency rose 4.35% to nearly $3,400.
Bitcoin's dominance fell by 1.53%, while Ethereum and altcoin saw increases in their respective market shares.
Over $278 million was liquidated from the market in the last 24 hours, with nearly equal proportions of long and short liquidations.
Bitcoin's Open Interest rose 2.49% in the last 24 hours. An increase in Open Interest, coming alongside a sideways price action, indicated a potential upside move.&nbsp;
More than 66% of traders on Binance were leveraged long on Bitcoin, according to the Long/Short Ratio.
The market remained in the "Greed" zone, according to the Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Virtuals Protocol (VIRTUAL)</td>
<td>+29.76%</td>
<td>$2.99</td>
</tr>
<tr>
<td>Aave (AAVE)</td>
<td>+22.56%</td>
<td>$385.47</td>
</tr>
<tr>
<td>XDC Network (XDC)</td>
<td>+15.14%</td>
<td>$0.08652</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.32 trillion, following an increase of 2.04% in the last 24 hours.
Stocks began the holiday week high on spirits. The Dow Jones Industrial Average rose 66.69 points, or 0.16%, to close at 42,906.95. The S&amp;P 500 added 0.73%, ending at 5,974.07, while the tech-heavy Nasdaq Composite spiked 0.98% to 19,764.88.
Data released Monday <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42657230/us-consumer-confidence-drops-in-december-expectations-signal-potential-economic-weakness-in-2025">indicated a sharp fall in U.S. consumer morale</a>, with the Conference Board&#8217;s Consumer Confidence Index falling to 104.7 in December, returning to mid-range levels seen during the previous two years.
The New York Stock Exchange and the Nasdaq will close early on Christmas Eve, and the markets will be shut on Christmas Day.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: In a note to Benzinga, Arthur Azizov, CEO of cryptocurrency payment provider B2BINPAY attributed the market's ongoing correction to Bitcoin's growing dominance.
"Naturally, we can now anticipate a decline in Bitcoin's dominance, which should create room for altcoins to pick up momentum again," Azizov predicted. "Overall, this is all playing out as expected, with most assets returning to the 50% retracement zone of their recent impulse moves."
Widely followed cryptocurrency analyst and trader Ali Martinez drew attention to Ethereum's "most significant" support level of $3,030 &#8211; $3,130 and the "most significant" resistance level of $3,640 &#8211; $3,740.
"A sustained close outside of this no-trade zone will determine the direction of ETH&#8217;s trend," Martinez remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most significant support level for <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is between $3,030 &#8211; $3,130, and the most significant resistance wall is $3,640 &#8211; $3,740. A sustained close outside of this no-trade zone will determine the direction of <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a>&#39;s trend. <a href="https://t.co/YCGKucGvjt">pic.twitter.com/YCGKucGvjt</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1871280113209266444?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42660092/microstrategy-sinks-after-nasdaq-100-inclusion-bitcoin-bet-under-fire">MicroStrategy Sinks After Nasdaq 100 Inclusion: Bitcoin Bet Under Fire?</a></li>
</ul>

$ETH

Bitcoin Flat, Ethereum, Dogecoin Spike Ahead Of Christmas: Analyst Says Decline In BTC Dominance Leaves 'Room For Altcoins To Pick Up'

On Monday, Cathie Wood-led Ark Invest executed notable trades involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>).
The Tesla Trade
Ark Invest made a significant move by selling 13,040 shares of Tesla Inc. through its ARK Innovation ETF (NYSE: ARKK). This transaction, valued at approximately $5.6 million, comes as <a href="https://www.benzinga.com/24/12/42641207/researcher-says-cancelation-of-7500-ev-tax-credit-could-impact-teslas-deliveries-despite-ceo-elon-musk-claiming-otherwise">Tesla faces potential challenges</a> related to the possible cancellation of the $7,500 EV tax credit in the U.S. Researcher Troy Teslike has highlighted that similar tax credit cancellations in Europe have previously led to a decline in Tesla&#8217;s sales. Despite these concerns, Tesla&#8217;s stock closed at $430.60, marking a 2.27% increase.
The Palantir Trade
Ark Invest sold shares of the Alex Karp-led company on Monday. Palantir, which closed at $80.69, has been actively expanding its footprint in the defense sector. Ark sold 22,807 Palantir shares through the flagship ARKK ETF. The transaction was valued at $1.84 million.
The company, alongside Anduril Industries, is leading a consortium to <a href="https://www.benzinga.com/markets/equities/24/12/42640010/palantir-and-anduril-reportedly-lead-consortium-partner-with-spacex-and-openai-to-compete-against-traditional-defense-contractors-in-850-billion-us-military-market">challenge traditional defense contractors</a>, according to a previous report. This move positions Palantir as a formidable player in the $850 billion U.S. military market.
The Amazon.com Trade
Ark Invest&#8217;s trade activity on Amazon was also noteworthy. The firm purchased 7,499 of the e-commerce giant&#8217;s shares through Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). The transaction was valued at nearly $1.7 million. The company&#8217;s stock, which closed at $225.06 with a slight 0.06% uptick, has been the subject of optimistic projections. An analyst with an 86% accuracy rate has predicted a 24% upside for Amazon, as detailed in a <a href="https://www.benzinga.com/analyst-ratings/price-target/24/12/42646865/this-analyst-with-86-accuracy-rate-sees-around-24-upside-in-amazon-com-here-are-5-stock-picks-for-last-week-from-wall-streets-most-accurate-analysts">recent analysis</a>. This forecast aligns with Ark&#8217;s strategic interests in high-growth potential stocks.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42638957/warren-buffetts-timeless-advice-if-youre-gonna-do-dumb-things-because-your-stock-goes-down-you-shouldnt-own-a-stock-at-all?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett's Timeless Advice For Investing $10,000: &#8216;If You're Gonna Do Dumb Things Because Your Stoc</a>
Other Key Trades:
<ul>
<li>Bought stock of 10X Genomics Inc. via ARKK and ARKG. </li>
<li>Bought shares of Gitlab Inc. through ARKK.</li>
</ul>
Image via Benzinga YouTube and Unsplash
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42635671/analyst-bullish-on-shiba-inu-sees-235-surge-despite-recent-fall?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Analyst Bullish on Shiba Inu, Sees 235% Surge Despite Recent Fall</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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