Latest news for Fuse Group Holding (OTC:FUST) Stock

Fuse Group Holding Inc provides consulting services to mining industry clients to find acquisition targets within the parameters set by the clients when the mine owner is considering selling its mining rights. The services of Fuse Group include due diligence on the potential mine seller and the mine, such as ownership of the mine and whether the mine meets all operational requirements and is currently in operation. Currently, the Company also seeks business opportunities in the biotech area.

FUSE GROUP HOLDING INC by Fuse Group Holding Inc.

Fuse Group Holding Inc

Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) reported a quarterly<a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming"> gross profit of $170 million</a> for the first time in the fourth quarter owing to the sale of regulatory credits and not merely by cutting costs, according to Fund Manager Gary Black.
Analyst Take: Black, Managing Partner at The Future Fund LLC, said in a post on X that in the absence of regulatory credit sale revenue, the company would have lost about $13,000 for every vehicle sold in the quarter. 
&#8220;My sense is Rivian stockpiled their reg credits and then sold them all in 4Q to be able to show they were gross profit positive. Investors should be able to see right through that,&#8221; Black said. 
&#8220;At $99K COGS per vehicle, Rivian is still a long way from making money and absent VOW and AMZN as sugar daddies they would probably be history,&#8221; Black said, referring to Rivian&#8217;s partnerships with German automaker Volkswagen and online retailer Amazon.com. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My sense is <a href="https://twitter.com/search?q=%24RIVN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RIVN</a> stockpiled their reg credits and then sold them all in 4Q to be able to show they were gross profit positive. Investors should be able to see right through that. At $99K COGS per vehicle , <a href="https://twitter.com/search?q=%24RIVN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RIVN</a> is still a long way from making money and absent VOW and AMZN… <a href="https://t.co/ROcV2VKbMb">pic.twitter.com/ROcV2VKbMb</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1892788634710909180?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Rivian Earnings: Rivian, in its earnings report, said that $110 million of its gross profit in the quarter came from the automotive segment and $60 million from the software and services segment.
The automotive segment includes the sale of new consumer and commercial vehicles as well as regulatory credits. The company said that it incurred revenue of $299 million purely from the sale of regulatory credits in the three months through the end of December. Throughout the year, the company reported only $325 million in revenue from regulatory credits, implying a majority of them were sold in the last three months. 
The company also reduced its automotive cost of goods sold by $31,000 per vehicle delivered in the fourth quarter to turn a positive gross profit, it said. 
Rivian expects to achieve modest gross profit for 2025 as well.
Big Shot Trajectory: EV giant Tesla recorded a quarterly profit for the first time in the <a href="https://www.benzinga.com/news/24/04/38485339/elon-musk-reminisces-how-tesla-achieved-its-first-quarterly-profit-11-years-ago-a-case-of-deliver-or">first quarter of 2013</a>. However, Tesla turned a full-year profit only in 2020. The company reported a profit of $721 million for the year, spurred by higher revenue from regulatory credits of about $1.6 billion. 
EV makers receive these credits for building and selling environmentally friendly vehicles. These companies then sell them to rivals who have fallen short of their credit numbers mandated by law for revenue. 
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:
<ul>
<li><a href="https://www.benzinga.com/25/02/43842890/osha-cites-tesla-over-death-of-electrician-report" target="_blank" rel="noreferrer noopener">Elon Musk's Tesla Cited By OSHA Over Death Of Electrician At Giga Texas: Report</a></li>
</ul>
Photo courtesy: Shutterstock

News

Tech

RIVN

Tesla Bull Says Rivian Is A Long Way From Making Money: 'Absent Volkswagen And Amazon As Sugar Daddies They Would Probably Be History'

Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) climbed 4.2% during the pre-market trading session on Friday following strong financial performance for the third quarter.
What Happened: The Chinese tech giant posted stellar results for the December quarter surpassing expectations. Alibaba&#8217;s third-quarter revenue grew 8% YoY to $38.38 billion, surpassing analyst estimates, while adjusted earnings per ADS of $2.93 beat consensus expectations of $2.66. The revenue for Alibaba's Cloud Intelligence Group witnessed a 13% year-on-year growth to $4.37 billion with revenue from AI-related products experiencing triple-digit growth for the sixth straight quarter.
The company&#8217;s CEO Eddie Wu&nbsp;stated, "This quarter's results demonstrated substantial progress in our ‘user first, AI-driven' strategies and the re-accelerated growth of our core businesses.&#8221;
Also, during the company&#8217;s third-quarter earnings call, CFO, Toby Xu, confirmed the 5% net reduction in share count. The Chinese tech behemoth repurchased $1.3 billion of its shares in the December quarter. This follows an approximate $10 billion in buybacks during the first half of fiscal 2024. The company still has $20.7 billion left in its buyback authorization. The buyback strategy was implemented as Alibaba reported $83.6 billion in cash reserves as of Dec. 31. 
SEE ALSO: <a href="https://www.benzinga.com/25/02/43772576/tesla-to-start-delivering-shanghai-made-refreshed-model-ys-next-week">Tesla&#8217;s Refreshed Model Y Rolls Off Shanghai Gigafactory, Deliveries To Start &#8216;Soon&#8217;</a>
Why It Matters: The stock has&nbsp;seen nearly an 80% surge over the past 12 months,&nbsp;bolstered by China&#8217;s&nbsp;economic stimulus measures and growing&nbsp;traction in Alibaba&#8217;s AI offerings. This growth in <a href="https://www.benzinga.com/25/02/43874037/alibaba-sees-ai-gold-rush-in-cloud-computing-not-open-and-closed-source-modelshints-monetization-lies-in-powering-ai-not-selling-it">AI offerings aligns with the company&#8217;s belief</a> that the real value in artificial intelligence will come from cloud infrastructure rather than the models themselves.
Moreover, CEO&nbsp;Eddie Wu&nbsp;revealed expectations that the company's International Commerce Unit would achieve profitability in the next fiscal year.
Meanwhile, Alibaba&#8217;s&nbsp;board-level capital management committee also continues&nbsp;to manage&nbsp;shareholder return initiatives through a&nbsp;mix&nbsp;of dividends, share buybacks, and&nbsp;strategic investments. 
The stock also surged in Hong Kong market on Friday as economists predict China's central bank could lower its main policy rate in March
Alibaba&#8217;s&nbsp;ADR closed at $135.97 on&nbsp;Thursday, gaining 8.09% for the&nbsp;day. In after-hours trading, the&nbsp;stock rose an additional 0.82%.&nbsp;Year to date, Alibaba shares&nbsp;have surged 60.06%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43805852/trump-shakes-global-trade-with-25-auto-chip-and-pharma-tariffs-announcement-asian-stocks-pare-their-five-day-rally">Trump Announces 25% Tariff On Auto Imports, Chips And Pharmaceuticals, Shaking Global Trade: Nvidia, Apple, TSMC And Others In Focus</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.
&nbsp;

Markets

BABA

BABA Stock Climbs Over 4% In Friday Pre-Market: What's Going On?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp.png" alt="" class="wp-image-6173" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/21060806/brk7e-s4eqp-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
A Chinese biotech that made a name for itself by co-developing an anti-Covid drug has filed for a stock market listing to fund research into tackling other conditions
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul>
<li>Vigonvita works closely with the Chinese Academy of Sciences through its founder and biggest shareholder, research scientist Shen Jingshan</li>
<li>After selling rights to its flagship anti-viral product, the drug developer fell back into the red last year</li>
</ul>
As Chinese biotechs beat a path to Hong Kong's IPO market, hoping to catch the eye of investors, one drug developer can point to a commercially launched Covid treatment as proof of its capability.
Vigonvita Life Sciences Co. Ltd., in partnership with Chinese research institutes, began work on the oral anti-viral medicine during the pandemic, later selling the product rights to a major Chinese pharmaceutical brand.
The pandemic project raised the company's profile and is now being leveraged in its pursuit of a Hong Kong stock listing.
Before the Chinese New Year holiday, the developer of innovative drugs&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2025/107116/documents/sehk25012700686.pdf">applied</a>&nbsp;to join the main board of the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor.
Founded in 2013, Vigonvita Life Sciences develops small molecule drugs to treat viral infections, mental health disorders and reproductive issues. Its pipeline contains nine innovative drugs as well as four generic drugs, two of which have gained marketing approval, bringing new revenue streams into the company.
Vigonvita's activities extend from drug research and development to manufacturing and sales. Its founder and biggest shareholder, Shen Jingshan, is a leading researcher and doctoral supervisor at a Shanghai institute within the Chinese Academy of Sciences that was involved in developing the Covid drug.
After the pandemic broke out in 2020, Vigonvita collaborated with Chinese research bodies to develop anti-Covid medicines, acquiring exclusive intellectual property rights to the resulting treatment, VV116.
In September 2021, Vigonvita sold the rights to develop, manufacture, and commercialize the product in most parts of the world to&nbsp;Junshi Biosciences&nbsp;(1877.HK; 688180.SH), while the right to supply the active ingredients was transferred to a pharmaceutical company based in Hainan province.
Together, the two out-licensing deals boosted Vigonvita's finances. China granted conditional marketing approval for the drug in January 2023 and folded it into the national medical insurance system a year later, although by then the pandemic had subsided.
The drug brought in revenues of 110 million yuan ($15.02 million) in the first half of 2023, according to earnings data from Junshi Biosciences, but after that the company stopped releasing specific product figures. Vigonvita is currently working on widening the clinical use of VV116 to cover respiratory syncytial virus (RSV) infections in children. Phase Three clinical trials are expected to be launched in the third quarter of 2025.
The research alliance that produced the Covid drug has also developed two other candidate treatments for which Vigonvita holds the intellectual property rights. According to the IPO prospectus, the company's co-founder and second biggest shareholder, Tian Guanghui, played a key role in developing the two drugs, LV232 and TPN171.
The first of those, a treatment for depression, will enter Phase Two trials in China in the first quarter of 2025. The company expects its TPN171 drug for erectile dysfunction to get marketing clearance in China in the middle of this year, after it was already approved in Uzbekistan. The income would be a welcome boost for the company, after revenues plunged last year.
<h4 class="wp-block-heading">Falling from a high base</h4>
Product sales have not been the company's main source of revenue. Instead, the bulk of the firm's earnings come from licensing deals, contract research services and pharmaceutical sales. On that basis the company brought in 190 million yuan in 2023 and revenues of 10 million yuan in the first nine months of 2024, but it made a net profit of just 48.51 million yuan and a loss of 151 million yuan in the two periods.
The prospectus blamed the sharp drop on a high base effect, after the previous year's earnings had been boosted by milestone payments and the sale of rights relating to VV116. An analysis of the firm's top five revenue sources shows 102 million yuan coming from Junshi Biosciences in 2023, and payments from the supplier of active ingredients amounting to 94.34 million yuan. But in the first three quarters of last year the input from Junshi Biosciences was a mere 7.98 million yuan and there was no payment from the other partner.
With licensing money drying up, Vigonvita quickly fell back into the red, although its research credentials helped it maintain access to capital. The company completed five rounds of financing between 2020 and 2024. The Series B financing in April 2022 boosted the firm's valuation to 4.2 billion yuan from 1.57 billion yuan four months earlier. The last round of Series C in April 2024 brought in another 160 million yuan, pushing the value to 4.45 billion yuan.
Cash and cash equivalents held by Vigonvita had fallen to 95.05 million yuan at the end of September last year. In the absence of licensing revenue and more drug launches, the IPO is an opportunity for the company to replenish its coffers for future R&amp;D.

Asia

Biotech

IPOs

As Covid Drug Cash Dwindles, Vigonvita Targets New Remedies

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) AI-driven Visual Intelligence feature is reportedly coming to iPhone 15 Pro models in an upcoming iOS update.
What Happened: Apple Intelligence, the company's suite of AI-powered features, includes Visual Intelligence, which allows users to analyze objects, translate text, and search for information in real-time using their iPhone's camera.
While iPhone 16 and 16 Pro users can trigger the feature using a dedicated camera button, the iPhone 15 Pro and Pro Max and <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">newly launched</a> iPhone 16e lack this hardware.
See Also: <a href="https://in.benzinga.com/markets/equities/25/02/43873396/apple-stock-has-run-up-over-10-in-a-month-jim-cramer-says-iphone-maker-is-ramping-and-the-credit-goes-to-chinese-subsidies">Apple Stock Has Run Up Over 10% In A Month, Jim Cramer Says iPhone Maker Is &#8216;Ramping&#8217; And The Credit Goes To Chinese Subsidies</a>
&#8220;Apple's solution to enable visual intelligence on the iPhone 16e, despite it lacking the Camera Control button, is two-fold. First, visual intelligence is now available in the Control Center. Second, as demonstrated by Apple in the announcement video, you can assign the Action Button to visual intelligence,&#8221; said Daring Fireball's John Gruber.
Gruber further said that Cupertino will likely assign Visual Intelligence to the Action button or use a Control Center shortcut, citing an Apple representative.
Apple hasn't confirmed which iOS version will bring Visual Intelligence to iPhone 15 Pro models, but Gruber speculates it may arrive in iOS 18.4, which could enter beta testing "any day now."
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: Apple's decision to extend Visual Intelligence to iPhone 15 Pro users reduces the pressure to upgrade to the iPhone 16 series for AI-driven camera enhancements.
Since its launch in September 2023, the iPhone 15 Pro series has seen significant adoption, with the Pro and Pro Max models accounting for 5.44% and 6.83% of the market by November 2024, <a href="https://www.statista.com/statistics/1447263/iphone-15-adoption-rate-by-model-worldwide/?__sso_cookie_checker=failed">according</a> to Statista.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://in.benzinga.com/markets/25/02/43840286/apples-iphone-16e-to-drive-revenue-growth-for-tim-cooks-company-says-top-analyst">Apple&#8217;s iPhone 16e To Drive Revenue Growth For Tim Cook&#8217;s Company, Says Top Analyst</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AAPL

Apple's Visual Intelligence May Come To iPhone 15 Pro: Here's How It Can Transform Your Camera With AI-Powered Real-Time Search

Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) reported quarterly earnings of $5.70 per share which beat the analyst consensus estimate of $5.52 by 3.26 percent. This is a 595.12 percent increase over earnings of $0.82 per share from the same period last year. The company reported quarterly sales of $33.224 billion which beat the analyst consensus estimate of $32.102 billion by 3.49 percent. This is a 580.26 percent increase over sales of $4.884 billion the same period last year.

Earnings

Earnings Beats

VIPS

Vipshop Holdings Q4 2024 Adj. EPS $5.70 Beats $5.52 Estimate, Sales $33.224B Beat $32.102B Estimate

CRWD CLIMBS OVER 14 POINTS AFTER THE ALERT
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="891" height="632" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM.png" alt="" class="wp-image-6162" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM.png 891w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM-300x213.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/20220650/Screen-Shot-2025-02-20-at-4.27.34-PM-768x545.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></figure>
CrowdStrike Holdings, Inc. (CRWD) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions. 
Today, at 10:02 AM on February 20th, a significant trading signal occurred for CrowdStrike Holdings, Inc. (CRWD) as it demonstrated a Power Inflow at a price of $422.37. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in CrowdStrike&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in CrowdStrike&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separate and study both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted as a bullish signal by active traders.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and potentially improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for CRWD, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts. 
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data brought to you by Benzinga APIs</a> and include firms, like&nbsp; &nbsp; <a href="https://www.tradepulse.net">https://www.tradepulse.net</a>&nbsp; which are responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After Market Close UPDATE:
The price at the time of the Power Inflow was $422.37. The returns on the High price ($436.75) and Close price ($436.14)after the Power Inflow were respectively 3.4% and 3.3%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite. In this case, the high of the day and close were very close but that is not always the case
Past Performance is Not Indicative of Future Results

Equities

Technicals

TRADEPULSE POWER ALERT: CROWDSTRIKE HOLDINGS INC.,CRWD,MOVES UP 3.4% AFTER ALERT FROM TRADEPULSE

Kash Patel, the newly confirmed Federal Bureau of Investigation director, has significant exposure to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), according to a financial disclosure.
What happened: Patel reported holding between $50,001 and $100,000 in the Grayscale Bitcoin Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>) and up to $15,000 in its &#8220;spin-off,&#8221; the Grayscale Bitcoin Mini Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTC#NYSE">BTC</a>).
Additionally, he owned a stake worth between $50,001 and $100,000 in leading Bitcoin mining firm Core Scientific Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>).
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a>
Why It Matters: The disclosure was the latest evidence of the involvement of high-ranking officials of the Donald Trump administration in cryptocurrency.&nbsp;&nbsp;
Apart from the president, who holds a significant amount of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42936887/trumps-treasury-pick-scott-bessent-reveals-up-to-500000-bitcoin-stake-via-blackrocks-etf">Treasury Secretary</a> Scott Bessent, Health Secretary Robert F. Kennedy Jr., and <a href="https://www.benzinga.com/general/market-summary/25/02/43809086/us-commerce-secretary-howard-lutnicks-cantor-fitzgerald-increases-bitcoin-exposure-via-etfs-mstr-mara-adds-chinese-firms-like-baba-baidu-jd-in-q4">Commerce Secretary</a> Howard Lutnick have invested in digital assets.
Patel, who was confirmed as FBI director by the Senate on Thursday, previously worked for Trump on the National Security Council in 2019. He also helped with the Pentagon transition effort from Trump to Biden.
Moreover, Patel <a href="https://www.benzinga.com/politics/24/12/42278429/trump-fbi-pick-kash-patels-wealth-has-grown-from-trump-media-board-position-consulting-deal-and-trump-themed-childrens-books">served as a director</a> on the board of Trump Media &amp; Technology Group, which was co-founded by Trump. In the disclosure, Patel said he would terminate the position before taking charge as the FBI director.
Price Action: At the time of writing, Bitcoin was exchanging hands at $98,300.91 up 1.16% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43825637/donald-trump-says-us-is-successfully-negotiating-with-russia-over-ukraine-but-polymarket-traders-arent-convinced">Donald Trump Says US Is &#8216;Successfully Negotiating With Russia&#8217; Over Ukraine, But Polymarket Traders Aren&#8217;t Convinced</a></li>
</ul>
Photo courtesy: Shutterstock

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

Cryptocurrency

$BTC

$ETH

Core Scientific, Inc. - Class A Common Stock

CORZ

GBTC

TSX:ETF

New FBI Director Kash Patel Holds Over $100,000 In Bitcoin ETFs, Has Significant Exposure To BTC Miner Core Scientific

As quantum computing stocks resume their rally after a steep year-to-date decline following Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) &#8216;Majorana 1&#8217; launch, we look at the top five holders of these companies according to the Security Exchange Commission&#8217;s (SEC) 13F filings.
What Happened: Assessing the 13F filings for the fourth quarter, we found that BlackRock, Inc. and Vanguard Group Inc., which also issue several exchange-traded funds, had major positions in quantum computing stocks.
Vanguard&#8217;s total investment value in Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>), Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>), D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>), and IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) stood at $1.201 billion during the fourth quarter.
Similarly, BlackRock&#8217;s total investment was valued at $942.637 million.
Both Vanguard and BlackRock were among the top five holders of these four stocks. State Street Corp., on the other hand, featured among the top five holders of three companies.
<h3 class="wp-block-heading">Rigetti Computing</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>11,892,972</td>
<td>$181.486 million</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>11,746,361</td>
<td>$179.249 million</td>
</tr>
<tr>
<td>American Assets Investment Management, LLC</td>
<td>7,221,216</td>
<td>$110.195 million</td>
</tr>
<tr>
<td>Invesco Ltd.</td>
<td>4,580,317</td>
<td>$69.895 million</td>
</tr>
<tr>
<td>State Street Corp</td>
<td>4,329,019</td>
<td>$66.060 million</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Quantum Computing</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>Anson Funds Management LP</td>
<td>4,230,000</td>
<td>$70.006 million</td>
</tr>
<tr>
<td>Alyeska Investment Group, LP</td>
<td>4,230,000</td>
<td>$69.613 million</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>4,186,729</td>
<td>$69.290 million</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>1,220,816</td>
<td>$20.204 million</td>
</tr>
<tr>
<td>UBS Group AG</td>
<td>1,153,053</td>
<td>$19.083 million</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">D-Wave Quantum</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>Public Sector Pension Investment Board</td>
<td>40,057,252</td>
<td>$336.480 million</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>8,618,832</td>
<td>$72.398 million</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>7,118,322</td>
<td>$59.793 million</td>
</tr>
<tr>
<td>UBS Group AG</td>
<td>4,332,107</td>
<td>$36.389 million</td>
</tr>
<tr>
<td>State Street Corp</td>
<td>3,085,359</td>
<td>$25.917 million</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">IonQ Inc</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Holdings (as of Dec. 31)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>21,374,125</td>
<td>$892.797 million</td>
</tr>
<tr>
<td>BlackRock, Inc</td>
<td>16,005,601</td>
<td>$668.553 million</td>
</tr>
<tr>
<td>Morgan Stanley</td>
<td>6,264,258</td>
<td>$261.658 million</td>
</tr>
<tr>
<td>State Street Corp</td>
<td>4,588,126</td>
<td>$191.646 million</td>
</tr>
<tr>
<td>Geode Capital Management LLC</td>
<td>4,466,094</td>
<td>$186.592 million</td>
</tr>
</tbody>
</table>
</figure>
Please note that these tables exclude any options held by firms
See Also: <a href="https://www.benzinga.com/government/regulations/25/02/43875557/donald-trump-airs-fort-knox-inspection-as-gold-edges-closer-to-3000-it-is-an-essential-component-of-portfolio-says-expert">Gold Is An &#8216;Essential Component&#8217; Of Portfolio, Says Expert As It Nears $3000 While Trump, Musk Suggest Fort Knox Inspection Amid The Surge</a>
Why It Matters: Quantum computing stocks <a href="https://www.benzinga.com/25/02/43844926/quantum-computing-stocks-rgti-qubt-ionq-qbts-cheer-microsofts-majorana-1-launch-satya-nadella-calls-it-a-physics-and-fabrication-breakthrough">jumped</a> after MSFT&#8217;s CEO Satya Nadella launched its chip &#8216;Majorana 1&#8217;. These chips use a different phase of matter called the topological phase for conducting qubits of information.
Nadella described it as &#8220;the transistor moment of quantum computing,&#8221; in the podcast with Dwarkesh Patel.
Following the announcement, the stocks edged higher on Wednesday, following their momentum on Tuesday. However, IonQ, which is backed by Bill Gates&#8216; Breakthrough Energy venture bucked the trend and fell.
Price Action: The stocks were still down in 2025 despite the &#8216;Majorana 1&#8217; bump. The stocks were mixed in premarket on Friday. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>Thursday&#8217;s Performance</td>
<td>Friday Premaret</td>
<td>YTD Performance</td>
</tr>
<tr>
<td>Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)</td>
<td>3.99%</td>
<td>-1.22%</td>
<td>-42.65%</td>
</tr>
<tr>
<td>Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>)</td>
<td>1.63%</td>
<td>0.25%</td>
<td>-56.88%</td>
</tr>
<tr>
<td>D-Wave Quantum Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>)</td>
<td>13.00%</td>
<td>0.14%</td>
<td>-23.10%</td>
</tr>
<tr>
<td>IonQ Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)</td>
<td>-1.14%</td>
<td>-0.30%</td>
<td>-21.69%</td>
</tr>
<tr>
<td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</td>
<td>0.41%</td>
<td>0.23%</td>
<td>3.99%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43875446/walmarts-ai-use-cases-surge-amid-strong-q4-even-as-company-forecasts-weaker-2026">Walmart Expands AI Use Beyond Optimizing Delivery Routes, To Tackling Inventory Issues And Delivering Code Faster</a></li>
</ul>
Photo courtesy: Shutterstock

Market Summary

IONQ

MSFT

QBTS

QTUM

QUBT

RGTI

Top Holders Of Quantum Computing Stocks In Q4: BlackRock, Vanguard, UBS, State Street Pour Money In Rigetti, D-Wave, IonQ, QUBT

Pony.ai has already introduced paid robotaxi rides to and from Beijing Daxing International Airport and to and from Beijing South Railway Station. The simultaneous expansion in Guangzhou's city center and its key transit hubs represents another milestone in the Company's commercialization of autonomous mobility.

PONY

Pony.ai Launches First Robotaxi Service Connecting Guangzhou's City Center To Airport And Railway Station

Integrating advanced data analytics into clinical practice to improve patient care

Philips And Mass General Brigham Collaborate To Unify Medical Data With AI For Smarter Clinical Decisions

Macro Economic Events

Econ #s

Economics

U.K. Services Purchasing Managers Index Preliminary For February 51.1 Vs. 50.8 Est.; 50.8 Prior

U.K. Manufacturing Purchasing Managers Index Preliminary For February 46.4 Vs. 48.5 Est.; 48.3 Prior

U.K. Composite Purchasing Managers' Index Preliminary For February 50.5 Vs. 50.5 Est.; 50.6 Prior

Amid escalating trade tensions between the U.S. and China, Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook is said to have met President Donald Trump.
What Happened: Citing an anonymous source, <a href="https://www.bloomberg.com/news/articles/2025-02-20/apple-s-tim-cook-meeting-with-trump-as-tariffs-threaten-iphones">Bloomberg </a>reported a possible meeting between Cook and Trump at the White House. The purpose of the meeting, however, remains undisclosed.
The escalating trade war between the US and China has put Apple in a tricky situation. The Trump administration&#8217;s&nbsp;10% tariff on Chinese goods&nbsp;could potentially hinder Apple&#8217;s efforts to revive its sluggish iPhone sales.
Moreover, China, Apple&#8217;s largest manufacturing hub, is contemplating an investigation into the company&#8217;s&nbsp;policies and the fees it&nbsp;charges app developers. 
Also, this month,&nbsp;<a href="https://www.benzinga.com/news/global/25/02/43554574/apple-faces-mounting-pressure-from-uk-government-to-grant-spying-access-to-encrypted-data-of-users-worldwide">Apple faced pressure</a>&nbsp;from the U.K. government to create a backdoor for accessing the encrypted data of its users worldwide. 
This meeting with President Trump could be seen in the context of tariffs and privacy-related concerns from the U.K.
Apple did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
SEE ALSO: <a href="https://www.benzinga.com/personal-finance/25/02/43856927/billionaire-blackrock-ceo-larry-fink-says-people-are-saving-too-much-and-not-investing-enough-to-retire-with-dignity">Billionaire Blackrock CEO Larry Fink Says People Are Saving Too Much And Not Investing Enough To &#8216;Retire With Dignity&#8217;</a>
Why It Matters: The tariffs imposed by the Trump administration raised concerns over the impact on the pricing of Apple products. <a href="https://www.benzinga.com/markets/equities/25/02/43839627/apple-may-hike-iphone-prices-by-9-due-to-trumps-tariffs-says-bank-of-america">Analysts at the Bank of America</a>&nbsp;securities have suggested that Apple may need to increase iPhone prices by 9% to counter the tariffs. 
The iPhone maker tried to shift its supply chain from China to India and Vietnam. While India is a major assembling hub for iPhones, Vietnam is a major hub for AirPods. However, the Chinese government is setting obstacles to this shift and has resorted to tightening controls on advanced equipment and critical materials. Additionally, the reciprocal tariffs on India announced by Trump have also become a cause of concern for the Tim Cook-led company.
Post-election, Cook had expressed his willingness to engage with the Trump administration. However, the two have previously had disagreements over Apple&#8217;s privacy policies, with Trump insisting that Apple should do more to assist federal law enforcement in accessing encrypted phones. Apple has consistently opposed such requests citing potential dangers from hackers. 
Despite these challenges, <a href="https://www.benzinga.com/markets/equities/25/02/43873396/apple-stock-has-run-up-over-10-in-a-month-jim-cramer-says-iphone-maker-is-ramping-and-the-credit-goes-to-chinese-subsidies">Apple&#8217;s stock has surged over 10%</a> in the past month, with CNBC's Jim Cramer attributing the momentum to the Chinese government&#8217;s national consumer subsidy programs that also cover Apple products.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming">Rivian Automotive Q4 Earnings Highlights: Revenue Beat, EPS Beat, 2025 Guidance, R2 Update</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.

Apple CEO Tim Cook Reportedly Meets Trump As Tariff Impact Looms On iPhone Sales And Company's China Strategy

Eurozone Services Purchasing Managers Index Preliminary For February 50.7 Vs. 51.5 Est.; 51.3 Prior

HCOB Eurozone Composite Purchasing Managers Index Preliminary For February 50.2 Vs. 50.5 Est.; 50.2 Prior

Eurozone Manufacturing Purchasing Managers Index Preliminary For February 47.3 Vs. 46.9 Est.; 46.6 Prior

Jensen Huang, CEO of&nbsp;Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), addressed investor concerns regarding the necessity of massive AI infrastructure spending during a virtual event uploaded on Thursday. 
What Happened: Huang addressed the DeepSeek-led sell-off of the Nvidia shares and said, that investors misinterpreted the DeepSeek&#8217;s AI advancements. The pre-recorded event, produced by Nvidia partner DDN, was part of the launch of DDN&#8217;s new software platform, Inifinia.
The major reason for the sell-off was due to investors questioning the need for massive AI infrastructure expenditure by Big Tech firms, particularly&nbsp;if models can be trained with lesser computing power. This is a result of DeepSeek&#8217;s advancements in AI, which investors may have misunderstood, triggering a significant market reaction.
The Nvidia Chief clarified that the industry still demands significant computing power for post-training methods, which enable AI models to generate predictions or reach conclusions after training. He emphasized that as these methods diversify and expand, the demand for Nvidia&#8217;s computing power will also increase.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="
</iframe></div></figure>

NVDA

Nvidia Stock Had A Bad Week After DeepSeek Unveiled Its New Model In January—Now CEO Jensen Huang Says Investors Are Misreading AI's Future Impact: 'Obviously, That Paradigm Is Wrong'

President Donald Trump and Tesla Inc. CEO Elon Musk have reignited decades-old discussions about the U.S. government&#8217;s gold holdings at Fort Knox, as the precious metal&#8217;s prices reach historic highs above $2,940 per ounce.
What Happened: Musk initiated the conversation on social media Saturday, questioning the status of the gold reserves and calling for a &#8220;live video walkthrough&#8221; of the facility. Trump escalated the matter Wednesday, announcing plans to inspect the fortress-like depository. 
&#8220;We hope everything&#8217;s fine with Fort Knox, but we&#8217;re going to go to Fort Knox&#8230;to make sure the gold is there,&#8221; Trump said, adding, &#8220;If the gold isn&#8217;t there, we&#8217;re going to be very upset.&#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">.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>: &quot;We&#39;re going to go to Fort Knox — the fabled Fort Knox — to make sure the gold is there.&quot; <a href="https://t.co/nFKlTDGXaO">pic.twitter.com/nFKlTDGXaO</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1892420940220313900?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The U.S. Bullion Depository at Fort Knox currently holds 147.3 million troy ounces of gold, representing approximately 59% of the Treasury&#8217;s total reserves, according <a href="https://www.usmint.gov/learn/tours-and-locations/fort-knox?srsltid=AfmBOorAKfMwGFU3cNWbLEtFSJ31roUnftZ9i27yKhJKN5E3djpNF2s3#accordion-d08d17b2a7-item-13f72f12ff">to</a> the U.S. Mint. At current market prices, these holdings are valued at approximately $434 billion.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43872745/bitcoin-breaches-98k-ethereum-dogecoin-flat-as-sec-relaxes-crypto-enforcement-top-analysts-are-focused-on-this-level-for-a-potential-btc-upside">Bitcoin Breaches $98K, Ethereum, Dogecoin Flat As SEC Relaxes Crypto Enforcement: Top Analysts Are Focused On This Level For A Potential BTC Upside</a>
Why It Matters: The renewed interest in Fort Knox comes amid a broader surge in gold prices, driven by geopolitical tensions and economic uncertainty. Goldman Sachs recently raised its <a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43858757/bullion-boom-gold-etfs-gain-as-geopolitical-storm-fuels-surge">year-end gold target</a> to $3,100 per ounce, citing increased central bank purchasing activity.
The U.S. maintains the world&#8217;s largest government gold reserves, with 8,133 metric tons – more than double Germany&#8217;s holdings, according <a href="https://www.gold.org/goldhub/data/how-much-gold">to</a> the World Gold Council. The Kentucky facility, constructed in the 1930s, was strategically located inland to protect against potential foreign attacks during World War II.
Treasury Secretary Scott Bessent recently dismissed speculation about revaluing the nation&#8217;s gold holdings, stating that &#8220;all the gold is there&#8221; and extending an <a href="https://www.benzinga.com/etfs/specialty-etfs/25/02/43858757/bullion-boom-gold-etfs-gain-as-geopolitical-storm-fuels-surge">open invitation to senators for verification</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/asia/25/02/43872677/alibaba-cfo-toby-xu-touts-5-drop-in-share-count-thanks-to-aggressive-buybacks-as-jack-ma-founded-company-basks-in-stellar-q3-results">Alibaba CFO Toby Xu Touts 5% Drop In Share Count Thanks To Aggressive Buybacks As Jack Ma-Founded Company Basks In Stellar Q3 Results</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

Trump Plans Fort Knox Gold Inspection As Prices Soar Past $2,940: 'If The Gold Isn't There...'

SpaceX CEO Elon Musk on Thursday said that preparations must start already for deorbiting the International Space Station (ISS), ahead of the timeline decided by space agency NASA. 
What Happened: &#8220;It has served its purpose. There is very little incremental utility,&#8221; Musk said in a post on X, formerly Twitter. &#8220;Let&#8217;s go to Mars,&#8221; the billionaire said, calling for a human-operated base on Mars instead of the low Earth orbit. 
<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">It is time to begin preparations for deorbiting the <a href="https://twitter.com/Space_Station?ref_src=twsrc%5Etfw">@Space_Station</a>. It has served its purpose. There is very little incremental utility. Let's go to Mars.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1892621691060093254?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;The decision is up to the President, but my recommendation is as soon as possible,&#8221; Musk said while also recommending that the station be deorbited two years from now, or in 2027. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The decision is up to the President, but my recommendation is as soon as possible. I recommend 2 years from now.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1892627928921329862?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Current Plans For ISS: The ISS&nbsp;is operated by space agencies from the U.S., Europe, Japan, Canada, and Russia. All countries except Russia have committed to operating the station until 2030.&nbsp;The station has spent about 25 years in orbit and over 270 astronauts have visited it to date. 
NASA&nbsp;<a href="https://www.benzinga.com/news/24/07/39574766/spacex-overtakes-ula-in-military-space-missions-as-vulcan-centaur-rocket-experiences-delays" target="_blank" rel="noreferrer noopener">chose SpaceX</a>&nbsp;to develop and deliver the U.S. Deorbit vehicle (USDV) to deorbit the space station and ensure a lack of risk to populated areas in late June. SpaceX will develop the deorbit spacecraft under the contract valued at $843 million and NASA will take ownership afterward and operate it through the mission. 
The space agency previously said that the deorbit spacecraft would move the station out of orbit and into a remote area of an ocean at the end of its operations around 2030.
Both the spacecraft and the station are expected to break up through the process of re-entry into Earth's atmosphere. Any remnants will subsequently fall harmlessly into the ocean as part of the plan. 
Musk&#8217;s Mars Vision: Musk has often talked about landing humans on the surface of Earth&#8217;s <a href="https://www.benzinga.com/news/24/06/39521319/elon-musk-envisions-building-space-station-on-moon-after-spacex-bags-nasa-contract-to-build-iss-deor">neighboring planet Mars</a>. SpaceX&#8217;s Starship launch vehicle, with which he intends to accomplish the dream, is in the testing and development phase. 
Musk last year said that the first Starships will&nbsp;<a href="https://www.benzinga.com/news/24/07/39567836/spacex-ceo-elon-musk-picks-terminus-for-mars-first-starship-enabled-city-after-just-4-test-flights" target="_blank" rel="noreferrer noopener">head to Mars in two years</a>&nbsp;once the next Earth-Mars transfer window opens.
The first launches to Mars in 2026, Musk then said, will not have a crew onboard and will be aimed at testing the flight&#8217;s ability to land intact on Mars.
&#8220;If those landings go well, then the first crewed flights to Mars will be in 4 years,&#8221; Musk wrote, pegging the first crewed Starship flights to the neighboring planet for 2028.
According to the billionaire, humans stand a risk of extinction on Earth due to risks like nuclear war or natural annihilation.
"Having two planets means that all our eggs are not in one basket. From there, we can extend to other star systems," Musk said <a href="https://www.benzinga.com/general/space/25/02/43840887/spacex-ceo-elon-musk-says-making-mars-self-sustaining-will-take-up-to-half-a-century-will-require-10-earth-mars-transfer-windows">earlier this week.</a>
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/general/space/25/02/43874743/elon-musks-spacex-starships-8th-test-flight-could-launch-as-early-as-feb-26">Elon Musk-Led SpaceX Likely To Undertake Starship&#8217;s 8th Test Flight On Feb 26: Here&#8217;s What We Know</a></li>
</ul>
Photo courtesy: Shutterstock

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