Latest news for FGI Industries (NASDAQ:FGIWW) Stock

FGI Industries Ltd is a supplier of kitchen and bath products. It offers sanitaryware, bath furniture, shower systems, customer kitchen cabinetry, and other accessory items. It is business to business supplier of bath and kitchen products to large retail, wholesale, commercial, and specialty channel customers around the globe. its revenue is generated by sanitaryware. Geographically it operates in the United States, Canada, Europe, Rest of the World, and the majority of its revenue comes from the United States.

FGI Industries Ltd

News

GHRS

Reported Earlier, GH Research Prices $150M Public Offering Of 10M Common Shares At $15/Share

The Company intends to use the proceeds from this Offering primarily for (i) contracting the managerial and operational rights of a new parking lot, (ii) product research and development, (iii) recruitment of specialized technical and operational personnel, and (iv) Working capital and general corporate matters.

IPOs

HCAI

Reported Earlier, Huachen AI Parking Management Prices $6M Initial Public Offering Of 1.5M Common Shares At $4/Share

Landmark Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LARK#NASDAQ">LARK</a>) reported quarterly earnings of $0.57 per share. This is a 23.91 percent increase over earnings of $0.46 per share from the same period last year. The company reported $15.80 million in sales this quarter. This is a 20.24 percent increase over sales of $13.14 million the same period last year.

Earnings

LARK

Landmark Bancorp Q4 EPS $0.57 Up From $0.46 YoY, Sales $15.80M Up From $13.14M YoY

The UK approval marks the fourth regulatory approval Valneva has received for its single-shot chikungunya vaccine. The vaccine is currently approved in the United States (U.S.)2, Europe3 and Canada4 in adults 18 years of age and older. Valneva expects to receive marketing approval in Brazil in the first quarter of 2025, which would represent the first approval in an endemic country. Valneva submitted label extension applications to the U.S. Food and Drug Administration (FDA)5, the European Medicines Agency (EMA) and Health Canada6 to potentially extend the use of IXCHIQ&#xAE; to adolescents aged 12 to 17 years. The Company now also plans to submit a label extension application to MHRA.

VALN

Valneva's Chikungunya Vaccine IXCHIQ Gains UK Regulatory Approval, Expanding Global Access

Outlook&nbsp;
• Organic capital expenditures&#x2A; are estimated at USD 13 billion for 2025 .&nbsp;
• Oil &amp; gas production for 2025 is estimated to grow 4% compared to 2024 level.&nbsp;
• Equinor's ambition is to keep the unit of production cost in the top quartile of its peer group. • Scheduled maintenance activity is estimated to reduce equity production by around 30 mboe per day for the full year of 2025.

Guidance

EQNR

Equinor Estimates $13B Capital Expenditure For 2025, Forecasts 4% Oil & Gas Production Growth

The board of directors proposes to the annual general meeting an ordinary cash dividend of USD 0.37 per share for the fourth quarter 2024, an increase of USD 0.02 per share from the third quarter of 2024, in line with previously announced ambition. The Equinor share will trade ex-dividend on Oslo Børs from and including 15 May and New York Stock Exchange from and including 16 May 2025.

Dividends

Equinor Proposes Q4 Dividend Increase To $0.37 Per Share, Up $0.02 From Prior Quarter, Payable May 28

In this first tranche, shares for up to USD 396 million will be purchased in the market, implying a total first tranche of up to USD 1.2 billion including shares to be redeemed from the Norwegian State. The tranche will end no later than 2 April 2025.
Equinor announces a share buy-back programme of up to USD 5 billion for 2025, including shares to be redeemed from the Norwegian State, in order to conclude the two-year programme for 2024 – 2025, announced in February 2024.

Buybacks

Equinor Kicks Off $5B Share Repurchase Plan With Initial $1.2B Tranche Set For April 2025 Completion

Equinor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) reported quarterly earnings of $0.63 per share which beat the analyst consensus estimate of $0.62 by 1.61 percent. This is a 0.63 percent decrease over earnings of $0.63 per share from the same period last year. The company reported quarterly sales of $26.418 billion which beat the analyst consensus estimate of $25.973 billion by 1.71 percent. This is a 7.25 percent decrease over sales of $28.483 billion the same period last year.

Earnings Beats

Equinor Q4 2024 Adj. EPS $0.63 Beats $0.62 Estimate, Sales $26.418B Beat $25.973B Estimate

The XRP Ledger (XRPL), the blockchain network that powers XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), experienced an unprecedented hour-long interruption in block production on Tuesday before spontaneously recovering, according to Ripple&#8216;s Chief Technology Officer David Schwartz.
What Happened: &#8220;The network is now recovering. We don&#8217;t know exactly what caused the issue yet,&#8221; Schwartz posted on X. He suggested the disruption might have stemmed from a &#8220;silent network&#8221; failure mode, where validators stopped publishing validations while consensus mechanisms continued running.
<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">The network is now recovering. We don&#39;t know exactly what caused the issue yet. Super-preliminary observation: It looked like consensus was running but validations were not being published, causing the network to drift apart. Validator operators manually intervened to choose a…
&mdash; David &quot;JoelKatz&quot; Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1886914174565146852?ref_src=twsrc%5Etfw">February 4, 2025</a></blockquote>
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The incident marks a notable disruption for the XRP Ledger, which has processed over 70 million ledgers since its 2012 launch. During the outage, no validated ledgers were lost, though tentative ledgers were discarded as part of normal protocol operations.
The XRP Ledger&#8217;s unique Federated Consensus mechanism, which relies on over 150 independent validators worldwide, played a key role in the recovery. Some validator operators manually intervened to establish a new starting point after the last fully validated ledger, though Schwartz noted that &#8220;very few UNL operators actually made any changes.&#8221;
See Also: <a href="https://www.benzinga.com/markets/commodities/25/02/43485292/gold-outshines-bitcoin-as-trumps-gaza-plan-us-china-tensions-fuel-rally-peter-schiff-calls-it-extremely-bullish">Gold Outshines Bitcoin As Trump&#8217;s Gaza Plan, US-China Tensions Fuel Rally—Peter Schiff Calls It &#8216;Extremely Bullish&#8217;</a>
Why It Matters: This disruption comes as particularly significant given XRPL&#8217;s reputation for reliability and its growing importance in various financial applications. The network, known for processing 1,500 transactions per second with 3-5 second settlement times, has become integral to payments, tokenization, DeFi, and CBDC initiatives.
For investors, while the incident highlights potential vulnerabilities in distributed ledger systems, the network&#8217;s swift recovery and built-in safety mechanisms demonstrated its resilience. No user funds were affected during the interruption, as the system&#8217;s safety protocols prevented the acceptance of unverified transactions. &#8220;This is the &#8220;silent network&#8221; failure,&#8221; Schwartz said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One possible failure mode for XRPL is if all the validators think something&#39;s wrong with the network, all refuse to send any validations, and then there&#39;s no chatter to let the network reconverge. This is the &quot;silent network&quot; failure. XRPL has safeties both to prevent and…
&mdash; David &quot;JoelKatz&quot; Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1886965687555645873?ref_src=twsrc%5Etfw">February 5, 2025</a></blockquote>
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The development team continues to investigate the root cause of the disruption, with Schwartz emphasizing the preliminary nature of current observations.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43484922/bitcoin-ethereum-dogecoin-drops-as-trumps-crypto-czar-announces-oversight-committee-eric-trump-says-great-time-to-add-eth">Bitcoin, Ethereum, Dogecoin Drops As Trump&#8217;s &#8216;Crypto Czar&#8217; Announces Oversight Committee: Eric Trump Says &#8216;Great Time&#8217; To Add ETH</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.

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

Cryptocurrency

Markets

$XRP

XRP Ledger Suffers Hour-Long Outage Before Recovery: Ripple CTO Says 'Silent Network' Failure Didn't Impact User Funds

GLJ Research LLC CEO and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bear Gordon Johnson on Wednesday slammed bulls for their high price targets based on the assumption that the Elon Musk-owned company is &#8220;more than a car company.&#8221;
What Happened: &#8220;2025E appears set to disappoint the Wall Street bulls taking up their price targets on the idea &#8220;$TSLA is not a car company&#8221; &#8211; i.e., despite the fact that ~88% of its revs came from selling cars in 4Q24,&#8221; Johnson said in a post on social media platform X.
While automotive revenue accounted for most of Tesla&#8217;s fourth-quarter revenue, it was only at 77%, lower than what Johnson claims in his post. The company reported a total revenue of $25.71 billion, of which automotive revenue accounted for $19.8 billion, or roughly 77%. The remaining revenue came from the company&#8217;s energy generation, storage, and service segments.
&#8220;$TSLA is a company valued for exponential growth that has not grown in its most profitable/important market (i.e., California, or 33% of $TSLA&#8217;s 2024 US sales of ~691K) five consecutive quarters,&#8221; Johnson said while adding that <a href="https://www.benzinga.com/25/01/43375903/tesla-researcher-estimates-drop-in-ev-deliveries-for-2025-despite-promise-of-new-models">demand in Europe and Canada</a> are also now in &#8220;free fall.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">2/2&#8230; mainly to E. Musk&#39;s political leanings, 2025E appears set to disappoint the Wall Street bulls taking up their price targets on the idea &quot;$TSLA is not a car company&quot; &#8211; i.e., despite the fact that ~88% of its revs came from selling cars in 4Q24. <a href="https://t.co/57IJXWRWmj">pic.twitter.com/57IJXWRWmj</a>
&mdash; Gordon Johnson (@GordonJohnson19) <a href="https://twitter.com/GordonJohnson19/status/1886933337958203625?ref_src=twsrc%5Etfw">February 5, 2025</a></blockquote>
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The bear is referring to the recent report from the California New Car Dealers Association (CNCDA). The CNCDA said that Tesla had 203,221 vehicle registrations in California in 2024, nearly <a href="https://www.benzinga.com/tech/25/02/43454267/teslas-golden-state-struggles-registrations-decline-in-us-largest-ev-market-for-5th-straight-quarter">12% lower than the year before.</a>
Tesla's new registrations in the state fell 7.8% in the fourth quarter and 11.6% in 2024. For the year, Tesla held a 52.5% share of the zero-emission vehicle market, down from the 60.1% share in 2023.
Johnson, in his post, pegged the decline in registrations mainly to Musk&#8217;s &#8220;political leanings&#8221; towards Republican President Donald Trump. California, on the other hand, is a Democratic stronghold. 
Why It Matters: Wedbush Securities analyst Dan Ives has often reiterated that Tesla is an <a href="https://www.benzinga.com/markets/equities/25/01/43150976/dan-ives-raises-tesla-price-target-to-550-sees-golden-era-for-elon-musk-under-trump-sees-bull-case-upside-of-over-56-if-optimus-robot-counted-in-valuation">AI and robotics company </a>and not a car company, reflecting CEO Musk&#8217;s vision for Tesla. Wedbush has a price target of $550 on Tesla and an &#8220;outperform&#8221; rating. In comparison, GLJ research maintains a &#8220;sell&#8221; rating on the stock with a price target of $24.86. Overall, Tesla has a consensus price target of&nbsp;$320.75&nbsp;based on the ratings of&nbsp;32 analysts tracked by Benzinga.
Tesla reported a fall in vehicle deliveries for the first time in over a decade in 2024. The company reported global&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">deliveries of 1.79 million</a>&nbsp;vehicles in 2024, down from full-year deliveries of 1.81 million in 2023. The company&#8217;s revenue from its automotive segment subsequently fell 6% in 2024 to $77.07 billion while its revenue from the energy generate and storage segment rose 67% to $10.09 billion, thereby preventing a year-on-year dip in overall revenue. 
The EV maker&#8217;s shares closed up 2.22% at $392.21 on Tuesday. The stock is up by nearly 117% over the past year, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro.</a> 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="928" height="358" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05004352/image-31.png" alt="" class="wp-image-766236" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05004352/image-31.png 928w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05004352/image-31-300x116.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/05004352/image-31-768x296.png 768w" sizes="(max-width: 928px) 100vw, 928px" /></figure>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/02/43455022/fords-mustang-mach-e-was-its-saving-grace-in-january-as-sales-of-its-other-evs-dipped" target="_blank" rel="noreferrer noopener">Mustang Mach-E Accelerates Ford&#8217;s EV Sales In January Even As F-150 Lightning Slows Down</a></li>
</ul>
Photo courtesy: Tesla

Analyst Color

Tech

TSLA

Tesla Bear Expects EV Giant's Earnings To Fall Below Bullish Estimates In 2025, Notes Majority Of Company's Revenues Come From Car Deliveries

Macro Economic Events

Econ #s

Economics

Reported Earlier, China Caixin Services Purchasing Managers Index For January 51.0 Vs. 52.3 Est.; 52.2 Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index For January 53.0 Vs. 52.7 Est.; 50.9 Prior

Martin Shkreli, the former hedge fund manager known as &#8220;Pharma Bro,&#8221; defended Palantir Technologies Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) valuation on Tuesday amid the company&#8217;s surging stock price, projecting substantial cash flow growth for the data analytics firm through 2025.
What Happened: Shkreli, writing on X, stated that Palantir&#8217;s cash flow from operations (CFFO) should reach $1.8 billion in 2025 and potentially $2.7 billion by 2026. &#8220;It&#8217;s not as expensive as it looks,&#8221; he wrote, citing an 83x CFFO/FCF multiple for what he described as a &#8220;50% revenue grower with a lot of expense slack.&#8221;
His comments came as Palantir&#8217;s stock jumped 23.90% following strong <a href="https://www.benzinga.com/news/earnings/25/02/43449486/palantir-q4-earnings-revenue-beat-eps-beat-us-revenue-up-52-customer-count-up-43-strong-guidance-this-is-a-new-phase-unlike-anything-that-has-come-before">fourth-quarter results</a> that exceeded analyst expectations. The company reported revenue of $827.52 million, beating estimates of $775.91 million, with earnings per share of 14 cents topping forecasts of 11 cents.
Palantir boasts a market capitalization of $236.42 billion, with a price-to-earnings ratio of 525.32. Despite the strong rally, Palantir&#8217;s Relative Strength Index over a 14-day period stands at 80.36, suggesting the stock may be approaching overbought territory. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">i hear people throwing around the wrong numbers for <a href="https://twitter.com/search?q=%24PLTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PLTR</a>. let me help you. CFFO for 2025 should be 1.8B. 2026 i would guess 2.7B. That&#39;s 83x CFFO/FCF for a 50% revenue grower (with a lot of expense slack). It&#39;s not as expensive as it looks.
&mdash; Martin Shkreli (@MartinShkreli) <a href="https://twitter.com/MartinShkreli/status/1886851180435026219?ref_src=twsrc%5Etfw">February 4, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/25/02/43484176/trump-says-us-will-take-over-gaza-strip-were-going-to-develop-it-create-thousands-of-jobs">Trump Says US Will Take Over Gaza Strip: &#8216;We&#8217;re Going To Develop It, Create Thousands Of Jobs&#8217;</a>
Why It Matters: The AI software company&#8217;s performance was particularly robust in its U.S. operations, with commercial revenue surging 64% year-over-year to $214 million and government revenue <a href="https://www.benzinga.com/markets/equities/25/02/43452860/palantir-soars-23-after-hours-as-cramer-says-i-wont-let-you-down-and-dan-ives-calls-it-the-next-oracle-in-ai-boom">rising 45% to $343 million</a>. Customer count grew 43% compared to the previous year.
CEO Alex Karp emphasized the company&#8217;s position in the AI revolution, stating in a <a href="https://www.benzinga.com/news/earnings/25/02/43449486/palantir-q4-earnings-revenue-beat-eps-beat-us-revenue-up-52-customer-count-up-43-strong-guidance-this-is-a-new-phase-unlike-anything-that-has-come-before">letter to shareholders</a>, &#8220;We are still in the earliest stages, the beginning of the first act, of a revolution that will play out over years and decades.&#8221;
Analysts have responded positively, with several firms <a href="https://in.benzinga.com/analyst-ratings/price-target/25/02/43463909/palantir-stock-is-surging-tuesday-whats-going-on">raising their price targets</a>. Bank of America Securities maintained a Buy rating while lifting its target to $125, and Morgan Stanley upgraded the stock to Equal-Weight with a new $95 target.
Palantir forecasts <a href="https://in.benzinga.com/analyst-ratings/price-target/25/02/43463909/palantir-stock-is-surging-tuesday-whats-going-on">adjusted free cash flow</a> between $1.5 billion and $1.7 billion for the year.
Shkreli&#8217;s analysis comes after serving time for securities fraud related to his previous hedge fund management activities. While controversial, his background includes experience in financial analysis and pharmaceutical industry investments <a href="https://www.benzinga.com/government/21/11/23904774/wall-street-crime-and-punishment-martin-shkreli-the-self-destructive-pharma-bro">before his 2017 conviction</a>.
Price Action: Palantir closed at $103.83 on Tuesday, marking a 23.99% surge for the day. However, in after-hours trading, it edged down 0.90% to $102.90, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43484922/bitcoin-ethereum-dogecoin-drops-as-trumps-crypto-czar-announces-oversight-committee-eric-trump-says-great-time-to-add-eth">Bitcoin, Ethereum, Dogecoin Drops As Trump&#8217;s &#8216;Crypto Czar&#8217; Announces Oversight Committee: Eric Trump Says &#8216;Great Time&#8217; To Add ETH</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

PLTR

'Pharma Bro' Martin Shkreli Defends Palantir's Valuation Amid 24% Surge, Says AI Firm's Cash Flow Justifies 'Expensive' Price

On Tuesday, OpenAI introduced a comprehensive rebranding initiative featuring a new logo and typeface.
What Happened: The revamped logo, referred to as a &#8220;blossom,&#8221; showcases a slightly larger central space and refined lines.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="721" height="721" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231210/OpenAI-black-monoblossom.png" alt="" class="wp-image-766116" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231210/OpenAI-black-monoblossom.png 721w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231210/OpenAI-black-monoblossom-300x300.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231210/OpenAI-black-monoblossom-150x150.png 150w" sizes="(max-width: 721px) 100vw, 721px" /><figcaption class="wp-element-caption">Source: OpenAI &#x7C; The redesigned OpenAI &#8216;Blossom&#8217; logo</figcaption></figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat" target="_blank" rel="noreferrer noopener">OpenAI's SearchGPT Set To Disrupt Google's Search Empire As Former Engineer Sounds Alarm On Deteriorating User Experience Amid Rising Competition</a>
Initially crafted by OpenAI CEO Sam Altman and co-founder Ilya Sutskever, the redesign was executed by an internal team led by Veit Moeller and Shannon Jager, <a href="https://www.wallpaper.com/tech/openai-has-undergone-its-first-ever-rebrand-giving-fresh-life-to-chatgpt-interactions">reported</a> Wallpaper. This transformation is designed to project a &#8220;more organic and more human&#8221; image.
The AI startup has also launched a new typeface, OpenAI sans, which merges geometric precision with a rounded, inviting character. For example, the wordmark&#8217;s &#8220;O&#8221; features a perfectly round exterior and an imperfect interior, aiming to counter robotic precision, according to Moeller.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231455/OpenAI-black-wordmark-1024x458.png" alt="" class="wp-image-766124" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231455/OpenAI-black-wordmark-1024x458.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231455/OpenAI-black-wordmark-300x134.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231455/OpenAI-black-wordmark-768x344.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231455/OpenAI-black-wordmark-1536x688.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/04231455/OpenAI-black-wordmark.png 1604w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: OpenAI &#x7C; OpenAI&#8217;s wordmark is displayed in OpenAI Sans.</figcaption></figure>
When questioned about the role of AI tools like ChatGPT in the design process, Moeller said that the team used AI to calculate type weights.
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.
Why It Matters: On the same day, a federal judge ruled that parts of Elon Musk&#8217;s lawsuit against OpenAI will <a href="https://in.benzinga.com/25/02/43484737/chatgpt-maker-openais-future-hangs-in-the-balance-as-judge-says-musks-lawsuit-will-partially-proceed-to-trial">proceed to trial</a>. The lawsuit challenges OpenAI&#8217;s shift to a for-profit model.
Last month, it was reported that SoftBank Group is in talks to lead a <a href="https://in.benzinga.com/media/25/01/43374528/softbank-may-lead-openais-40-billion-funding-round-at-a-300-billion-valuation-despite-deepseek-disruption-report">$40 billion funding round</a> for OpenAI, potentially valuing the company at $300 billion.
In October 2024, the Altman-led <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">startup raised over $6.5 billion</a>, bringing its valuation to $157 billion.
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:
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<li><a href="https://www.benzinga.com/markets/equities/25/01/42900858/apple-announced-iphone-18-years-ago-today-changing-the-smartphone-industry-forever-heres-how-much-youd-have-now-if-you-invested-1000-back-then" target="_blank" rel="noreferrer noopener">Apple Announced iPhone 18 Years Ago Today, Changing The Smartphone Industry Forever. Here's How Much You'd Have Now If You Invested $1,000 Back Then</a></li>
</ul>
Photo Courtesy: Shutterstock
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.

OpenAI's Big Rebrand: ChatGPT-Parent Wants To Reflect A 'More Organic' Future With New Logo, Typeface

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>) revealed that its artificial intelligence-powered search features are achieving monetization rates comparable to traditional search results, marking a milestone in <a href="https://www.benzinga.com/25/02/43479274/alphabet-q4-earnings-highlights-ai-cloud-youtube-momentum-continues-capex-guidance-sends-shares-lower">the company&#8217;s AI strategy</a>.
What Happened: During Alphabet&#8217;s fourth-quarter of 2024 earnings call, Chief Business Officer Philipp Schindler announced that AI overviews, the company&#8217;s AI-enhanced search feature, is delivering revenue at &#8220;approximately the same rate&#8221; as conventional search results. 
This performance suggests the successful integration of AI technology without sacrificing the company&#8217;s core revenue engine.
The development is particularly noteworthy given that search advertising remains Alphabet&#8217;s largest revenue source, generating $54 billion in the fourth quarter, up 13% from the previous year. The successful monetization of AI features comes as the company significantly expands its AI infrastructure, announcing a planned $75 billion capital expenditure for 2025.
&#8220;AI overviews continue to drive higher satisfaction and search usage,&#8221; Schindler noted during the earnings call, indicating that the technology is not only matching revenue expectations but also improving user engagement. This is especially pronounced among younger users, suggesting potential for long-term growth in user adoption.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43484922/bitcoin-ethereum-dogecoin-drops-as-trumps-crypto-czar-announces-oversight-committee-eric-trump-says-great-time-to-add-eth">Bitcoin, Ethereum, Dogecoin Drops As Trump&#8217;s &#8216;Crypto Czar&#8217; Announces Oversight Committee: Eric Trump Says &#8216;Great Time&#8217; To Add ETH</a>
Why It Matters: The company reported that AI overviews are now available in more than 100 countries, while its newer Circle to Search feature has been rolled out to over 200 million Android devices. Users who have tried Circle to Search now initiate more than 10% of their searches through this feature, demonstrating strong user adoption of AI-powered search tools.
Google faces growing competition in the <a href="https://www.benzinga.com/news/24/02/37412558/watch-out-google-openai-perplexity-ai-reportedly-raising-additional-money-at-significantly-higher-va">AI search market</a> from OpenAI's SearchGPT, Perplexity AI, Microsoft's AI-powered Bing, and China's DeepSeek, all offering advanced conversational and real-time search capabilities.
Price Action: Alphabet&#8217;s Class A stock declined 7.59% in after-hours trading to $190.71, while Class C shares fell 7.27% to $192.60, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43484615/cathie-wood-led-ark-invest-dumps-7m-worth-of-palantir-stock-amid-searing-rally">Cathie Wood-Led Ark Invest Dumps $7M Worth Of Palantir Stock Amid Searing Rally</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.

GOOG

GOOGL

Google AI's Search Revenue Matches Traditional Ads, Says Alphabet But There Is Rising Competition From OpenAI, Perplexity, DeepSeek

Gold prices surged to an unprecedented high of $2,849.05 per ounce on Wednesday, driven by renewed U.S.-China trade tensions and geopolitical uncertainties in the Middle East. The precious metal has demonstrated resilience this year, posting a 7.31% year-to-date gain, outperforming Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) 4.27% increase during the same period.
What Happened: The latest rally came after former President Donald Trump imposed <a href="https://www.benzinga.com/government/regulations/25/02/43462165/china-strikes-retaliatory-measures-against-us-following-trumps-10-tariffs-its-much-less-than-proportional-analyst-says">a 10% tariff on Chinese imports</a>, prompting a measured response from Beijing. 
Peter Schiff, a prominent economist and gold advocate, views current market dynamics as bullish. &#8220;The fact that the public is selling and not buying is extremely bullish for gold. It&#8217;s a contrarian indicator,&#8221; Schiff posted on X, suggesting that retail investors might return to the market at higher price levels.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I forgot to mention it, but the fact that the public is selling and not buying is extremely bullish for gold. It&#39;s a contrarian indicator. Retail gold investors will eventually stop selling, and later, the general public will start buying, but at much higher prices.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1886926686681489803?ref_src=twsrc%5Etfw">February 4, 2025</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/25/02/43484615/cathie-wood-led-ark-invest-dumps-7m-worth-of-palantir-stock-amid-searing-rally">Cathie Wood-Led Ark Invest Dumps $7M Worth Of Palantir Stock Amid Searing Rally</a>
Why It Matters: Market sentiment received additional support from Trump&#8217;s proposal to assume <a href="https://www.benzinga.com/25/02/43484176/trump-says-us-will-take-over-gaza-strip-were-going-to-develop-it-create-thousands-of-jobs">U.S. control over Gaza Strip</a> reconstruction, adding another layer of geopolitical complexity to the precious metal&#8217;s appeal. However, analysts note that persistent high interest rates could potentially cap gold&#8217;s upside.
Gold futures for April delivery reached $2,879.49, up 0.13%, reflecting strong demand. The metal has appreciated 7.56% since Trump&#8217;s November election victory, though this performance trails Bitcoin&#8217;s 40.15% surge over the same timeframe.
The metal&#8217;s performance comes at a time when investors are closely monitoring potential inflationary pressures that could emerge from new tariffs, possibly <a href="https://www.benzinga.com/etfs/25/02/43468406/treasury-etfs-in-focus-as-trumps-tariffs-feds-rate-decision-shake-bond-markets">influencing Federal Reserve monetary policy decisions</a>. 
Despite the robust rally, market participants remain vigilant about interest rate trajectories, which traditionally have an inverse relationship with gold prices.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43484922/bitcoin-ethereum-dogecoin-drops-as-trumps-crypto-czar-announces-oversight-committee-eric-trump-says-great-time-to-add-eth">Bitcoin, Ethereum, Dogecoin Drops As Trump&#8217;s &#8216;Crypto Czar&#8217; Announces Oversight Committee: Eric Trump Says &#8216;Great Time&#8217; To Add ETH</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.

Commodities

$BTC

Gold Outshines Bitcoin As Trump's Gaza Plan, US-China Tensions Fuel Rally—Peter Schiff Calls It 'Extremely Bullish'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has increased the monthly subscription cost for its AppleCare+ service across all iPhone models in the U.S.&nbsp;
What Happened: Apple has raised the monthly fee for AppleCare+ by 50 cents. The standard AppleCare+ for the iPhone 16 now costs $10.49 per month, up from $9.99, <a href="https://www.macrumors.com/2025/02/04/applecare-iphone-price-increase/">reported</a> MacRumors on Tuesday.
This price hike affects all current iPhone models, including both the standard and Theft and Loss plans. However, the two-year AppleCare+ subscription prices, service fees, and deductibles remain unchanged, with the increase specific to monthly payments.
See Also: <a href="https://www.benzinga.com/media/25/02/43425734/apple-watch-faces-are-a-mess-series-10s-biggest-feature-is-limited-to-just-four-faces-frustrating-users">Apple Watch Faces Are A Mess — Series 10&#8217;s Biggest Feature Is Limited To Just Four Faces, Frustrating Users</a>
Moreover, Apple has not changed the AppleCare+ subscription prices for iPad, Mac, or Apple Watch.
Apple did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Why It Matters: On Sunday, Bloomberg&#8217;s Mark Gurman reported that Apple retail stores will stop offering AppleCare+ as a one-time purchase starting next week. Instead, AppleCare+ will only be available as a subscription in stores.
For instance, coverage for the iPhone 16 Pro Max costs $9.99 per month (before the price increase) or a one-time payment of $199 for two years. However, the upfront payment option will no longer be available in physical stores.
For now, Apple will continue to offer one-time AppleCare+ purchase options through its online store, he said.
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.
Last year, Apple also decided to increase the <a href="https://www.benzinga.com/news/24/09/40870767/apple-wants-you-to-pay-more-for-iphone-16-battery-replacement-heres-how-much-it-will-cost">cost of battery replacements</a> for the iPhone 16 Pro and iPhone 16 Pro Max by $20, bringing the new price to $119. The cost for battery replacement in the standard and "Plus" models remained unchanged.
Apple&#8217;s recent <a href="https://in.benzinga.com/news/earnings/25/01/43355688/apple-q1-earnings-revenue-beat-eps-beat-iphone-sales-slip-installed-base-climbs-to-all-time-high-our-best-quarter-ever">first-quarter earnings</a> report revealed a revenue beat, with fiscal first-quarter revenue of $124.3 billion, surpassing analyst estimates. Services revenue reached $26.34 billion, an increase from $23.12 billion compared to the previous year.
Price Action: Apple&#8217;s stock declined 0.021% in after-hours trading, settling at $232.75. Earlier on Tuesday, it closed at $232.80, marking a 2.10% increase, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks">Apple's iPad Turns 15 Today: Here's A Throwback To When Steve Jobs Explained Called It The ‘Third Category' After Phones And Notebooks</a></li>
</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.

Media

AAPL

Apple Raises Monthly AppleCare+ Prices For All iPhones— And You Can No Longer Buy The Warranty Upfront In Stores

The U.S. stock market showed a positive trend on Tuesday, with the Nasdaq Composite surging by over 260 points to end the day at 19,654.02. The Dow Jones Industrial Average also rose by 0.3% to 44,556.04, while the S&amp;P 500 gained 0.7% to 6,037.88.
Let&#8217;s turn our attention to the five stocks that captured the interest of retail traders and investors throughout the day.
Advanced Micro Devices, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)
The company&#8217;s stock rose by 4.58% to close at $119.50. The intraday high and low were $119.85 and $114.79 respectively, with a 52-week range of $112.80 to $227.30. AMD reported <a href="https://in.benzinga.com/news/earnings/25/02/43480688/amd-q4-earnings-revenue-beat-eps-beat-data-center-continued-growth">fourth-quarter earnings</a> that beat analyst estimates, with revenue of $7.66 billion and adjusted earnings of $1.09 per share.
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>)
Alphabet&#8217;s Class C stock increased by 2.50% to close at $207.71. The intraday high was $208.7, and the low was $204.26. The stock&#8217;s 52-week range is $131.55 to $208.70. The company&#8217;s Class A stock ended the day 2.6% higher at $206.38. Both Class A and Class C shares plunged in the after-hours session by 7.6% and 7.3% respectively. The tech giant reported strong fourth-quarter results, with <a href="https://in.benzinga.com/25/02/43479274/alphabet-q4-earnings-highlights-ai-cloud-youtube-momentum-continues-capex-guidance-sends-shares-lower">continued momentum</a> in AI, Cloud, and YouTube. However, the $75 billion CapEx guidance spooked investors.
Snap Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)
Snap&#8217;s stock soared by 3.85% to close at $11.60. The intraday high and low were $11.71 and $11.19, respectively, with a 52-week range of $8.29 to $17.50. The company reported fourth-quarter earnings and revenue that <a href="https://www.benzinga.com/general/social-media/25/02/43480179/snap-stock-soars-after-q4-eps-revenues-beat-details">beat analyst estimates</a>. The Benzinga report noted that Snap had 453 million daily active users in the fourth quarter, up 9% year-over-year.
Chipotle Mexican Grill, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>)
Chipotle&#8217;s stock rose by 1.13% to close at $59.02. The intraday high and low were $59.19 and $58.28, respectively, with a 52-week range of $47.98 to $69.26. The company reported fourth-quarter earnings that beat estimates but <a href="https://in.benzinga.com/general/restaurants/25/02/43479897/chipotle-q4-earnings-revenue-miss-eps-beat-focus-on-generous-portions-drives-food-costs-higher-shares-slide">missed on revenue</a>. The company&#8217;s focus on &#8216;generous portions&#8217; drove food costs higher.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock climbed by 2.22% to close at $392.21. The intraday high and low were $394 and $381.40, respectively, with a 52-week range of $138.80 to $488.54. The company introduced a <a href="https://www.benzinga.com/25/02/43457599/tesla-hikes-foundation-series-cybertruck-price-by-as-much-as-116-in-canada-introduces-non-foundation-series">cheaper Cybertruck version</a> in Canada while raising Foundation Series prices. 
Photo Courtesy: Shutterstock.com
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43484615/cathie-wood-led-ark-invest-dumps-7m-worth-of-palantir-stock-amid-searing-rally">Cathie Wood-Led Ark Invest Dumps $7M Worth Of Palantir Stock Amid Searing Rally</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>

SNAP

AMD, Alphabet, Snap, Chipotle, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Major cryptocurrencies declined sharply on Tuesday following the announcement of a new regulatory oversight committee, with total market liquidations reaching nearly $485 million in the past 24 hours.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8.15 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-2.96%</td>
<td>$98,240.17</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>-4.15%</td>
<td>$2,735.57</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>-7.19%</td>
<td>$0.2649</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The leading cryptocurrency dropped to $97,924.27, its lowest level in the last 24 hours of trading, while the broader crypto market capitalization fell 2.92% to $3.23 trillion. 
The decline coincided with newly appointed &#8220;Crypto Czar&#8221; David Sacks announcing the formation of a bipartisan, bicameral committee to establish a <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43477333/crypto-czar-sacks-says-potential-bitcoin-reserve-to-be-one-of-crypto-committees-first-priorities">regulatory framework for digital assets</a>.
Ethereum also experienced downward pressure despite social media attention from Eric Trump, who suggested on X that &#8220;it&#8217;s a great time to add $ETH.&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In my opinion, it's a great time to add <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>.
&mdash; Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/1886541132903133230?ref_src=twsrc%5Etfw">February 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The second-largest cryptocurrency&#8217;s decline followed Dogecoin&#8217;s retreat after its 15% rally on Monday.
The market turbulence triggered significant trading activity, with over 161,000 traders facing liquidations. The total cryptocurrency open interest decreased by 5.61% to $113.45 billion, while trading volume dropped 43.19% to $194.42 billion, according to CoinGlass.
Market sentiment remains cautious, with the Crypto Fear and Greed Index reading 54 on Tuesday, indicating a neutral stance. 
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8.15 p.m. ET)</td>
</tr>
<tr>
<td>Official Melania Meme (MELANIA)</td>
<td>+11.56%</td>
<td>$1.65</td>
</tr>
<tr>
<td>Pudgy Penguins (PENGU)</td>
<td>+3.96%</td>
<td>$0.01374</td>
</tr>
<tr>
<td>Hyperliquid (HYPE)</td>
<td>+2.04</td>
<td>$25.55</td>
</tr>
</tbody>
</table>
</figure>
The cryptocurrency market&#8217;s decline occurred against a backdrop of mixed traditional market performance. The Dow Jones Industrial Average gained 134.13 points, or 0.30%, closing at 44,556.04, while the S&amp;P 500 rose 0.72% to 6,037.88. 
The tech-heavy Nasdaq Composite, however, fell 1.35% to 19,654.02. Dow futures showed minimal movement in after-hours trading, down just 7 points as of 8:15 p.m. EDT.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43476777/shiba-inu-eyes-393-rally-dogecoin-targets-333-gains-whats-happening">Shiba Inu Eyes 393% Rally, Dogecoin Targets 333% Gains: What&#8217;s Happening?</a>
Analyst Notes:&nbsp; Leading cryptocurrency analyst Rekt Capital expects Bitcoin to consolidate between $98,300 and $101,000 in the near term. &#8220;Bitcoin revisited the $101k level&#8230; but failed the subsequent post-breakout retest of it into new support,&#8221; they noted. 
<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/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin revisited the $101k level (black) In fact, Bitcoin even Daily Closed above it, but failed the subsequent post-breakout retest of it into new support BTC is probably going to consolidate between $98300 and $101000 for the time being<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/X9EPlU6XtO">https://t.co/X9EPlU6XtO</a> <a href="https://t.co/UOysUdhAlr">pic.twitter.com/UOysUdhAlr</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1886773952980087156?ref_src=twsrc%5Etfw">February 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Similarly, analyst Ali Martinez suggested Bitcoin is trading within a broader range between $90,900 and $108,500, with no clear directional trend.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is consolidating between $90,900 and $108,500. Until we see a clear breakout beyond this range, the trend direction remains uncertain. <a href="https://t.co/JRyk9dLjlw">pic.twitter.com/JRyk9dLjlw</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1886875374463963312?ref_src=twsrc%5Etfw">February 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst Michaël van de Poppe offered a contrarian view regarding Ethereum&#8217;s prospects following Eric Trump&#8217;s comments, stating, &#8220;The most hated trade is usually the best trade to take. If Trump bets massively on $ETH, it&#8217;s almost foolish to not follow that route at these valuations.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The most hated trade is usually the best trade to take. If Trump bets massively on <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, it&#39;s almost foolish to not follow that route at these valuations.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1886854990238458120?ref_src=twsrc%5Etfw">February 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/25/02/43482999/robinhood-ends-super-bowl-lix-bets-plan-after-cftc-complaint">Robinhood Ends Super Bowl LIX Bets Plan After CFTC Complaint: &#8216;Work To Roll Out A More Comprehensive Contracts Platform Later This Year&#8217;</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.

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Drops As Trump's 'Crypto Czar' Announces Oversight Committee: Eric Trump Says 'Great Time' To Add ETH

On Tuesday, a federal judge decided that parts of Elon Musk&#8217;s lawsuit against OpenAI will advance to trial. This legal battle centers on Musk&#8217;s efforts to halt OpenAI&#8217;s transition to <a href="https://www.benzinga.com/news/legal/24/12/42493076/openai-challenges-musks-lawsuit-reveals-2017-profit-talks">a for-profit model</a>.
What Happened: U.S. District Judge Yvonne Gonzalez Rogers, based in Oakland, California, said Musk will be required to testify in court, reported Reuters.
&#8220;Something is going to trial in this case,&#8221; she stated, indicating that a jury will ultimately determine the outcome.
See Also: <a href="https://www.benzinga.com/tech/25/02/43453553/palantirs-shyam-sankar-us-is-at-war-with-china-in-ai-and-the-time-to-act-was-yesterday">Palantir&#8217;s Shyam Sankar: US Is At War With China In AI—And The Time To Act Was &#8216;Yesterday&#8217;</a>
The lawsuit, initiated by Musk last year, contests OpenAI&#8217;s shift from a nonprofit to a for-profit organization. Musk argues that the original mission was to develop AI for the benefit of humanity, not for profit.
OpenAI, which was co-founded by Musk in 2015, maintains that the transition is crucial to secure funding for AI development.
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Why It Matters: Last year in December, OpenAI <a href="https://www.benzinga.com/24/12/42712683/openai-lays-out-its-for-profit-transition-plans-says-it-must-evolve-to-advance-its-agi-mission">outlined its plans to evolve</a> into a Delaware Public Benefit Corporation (PBC) to align with its mission of ensuring artificial general intelligence (AGI) benefits all humanity.
OpenAI&#8217;s fundraising efforts, including a $6.6 billion round in October and a potential <a href="https://www.benzinga.com/25/01/43327823/softbank-eyes-historic-25-billion-investment-in-openai-poised-to-dethrone-microsoft-as-chatgpt-parents-biggest-investor">$25 billion round</a> with SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>), depend on this restructuring.
Last month it was reported that SoftBank was in talks to lead a new funding round for OpenAI, potentially <a href="https://in.benzinga.com/media/25/01/43374528/softbank-may-lead-openais-40-billion-funding-round-at-a-300-billion-valuation-despite-deepseek-disruption-report">raising up to $40 billion</a>. This investment would value the ChatGPT-maker at $300 billion.
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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&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.

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