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PGIM Global High Yield

PGIM Global High Yield Fund, Inc is a diversified, closed-end management investment company. The fund's investment objective is to provide a high level of current income. The fund seeks to provide a high level of current income by investing in higher-rated, below-investment-grade fixed income instruments of issuers located around the world, including emerging markets.

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PGIM Global High Yield Fund, Inc

Goldman Sachs Access High Yield Corporate Bond ETF

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China&#8217;s Geely Auto said on Thursday that it is looking at delivering 320,000 units of its Zeekr brand EVs in 2025, 44% more than what the company delivered in 2024.
What Happened: Zeekr sold 222,123 EVs in 2024, marking a jump of 87% year-on-year. For 2025, the company is now aiming for 320,000 sales. 
Geely, overall, is looking to deliver 2.71 million vehicles in the new year including 2 million units under the Geely brand. In 2024, the company delivered 2.18 million vehicles.
Why It Matters: Zeekr began delivering EVs in October 2021 and has delivered over <a href="https://www.benzinga.com/24/11/41973728/zeekr-sees-51-surge-in-q3-deliveries-but-faces-lower-margins-amid-pricing-shifts">350,000 vehicles to date</a>. The brand now operates in Europe, Hong Kong, and <a href="https://www.benzinga.com/news/24/08/40647203/teslas-chinese-rival-zeekr-takes-on-elon-musks-ev-giant-with-a-more-affordable-electric-suv-in-china">over 30 markets worldwide</a>.
Zeekr, though a Geely brand, is listed on the New York Stock Exchange as Zeekr Intelligent Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>). It has a consensus price target of $31.83 based on the ratings of 5 analysts tracked by Benzinga and a consensus &#8220;buy&#8221; rating.
Zeekr shares closed down 4.44% on Thursday at $27.12. The stock is down 4% over the past year, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. 
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:
<ul>
<li><a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4">Tesla Overtaken by BYD Again: Chinese Player Becomes World&#8217;s Biggest EV Seller In Q4</a></li>
</ul>
Photo courtesy: Zeekr

Global

Tech

Zeekr Targets 320,000 EVs In 2025 As Geely Pushes For Record 2.71 Million Deliveries

Quantum computing stocks <a href="https://www.benzinga.com/general/market-summary/24/12/42569883/quantum-computing-rigetti-d-wave-skyrocket-up-to-300-in-5-sessions-after-google-unveils-willow-chip-but-analysts-urge-caution-not-every-tiktok-guitarist-is-the-next-taylor-swift">surge</a> to record highs in 2024, fueled by Google&#8217;s recent Willow chip announcement. Here&#8217;s an exchange-traded fund that offers investors exposure to this burgeoning sector. 
What Happened: Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>) is an ETF that tracks the BlueStar Quantum Computing and Machine Learning Index, which helps investors capture the growth potential of the quantum computing sector. 
The ETF has gained 16.41% over the last month, 29.03% over the last six months and 54.88% in 2024, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
<h3 class="wp-block-heading">Defiance Quantum ETF In 2024</h3>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010930/QTUM-in-2024-1024x576.png" alt="" class="wp-image-716373" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010930/QTUM-in-2024-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010930/QTUM-in-2024-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010930/QTUM-in-2024-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010930/QTUM-in-2024-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010930/QTUM-in-2024.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The ETF invests in over 70 global stocks across the value chain, including hardware, software, and application-focused companies. Its top holdings include Rigetti with a weightage of 3.79% and D-wave with a 3.27% weight, followed by IONQ, Alchip Technologies, and Teradyne.
<h3 class="wp-block-heading">Top 10 Holdings Of Defiance Quantum ETF </h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>ETF Weight</td>
<td>Shares Held</td>
</tr>
<tr>
<td>Rigetti Computing</td>
<td>3.79%</td>
<td>1,571,360</td>
</tr>
<tr>
<td>D-wave Quantum</td>
<td>3.27%</td>
<td>2,814,719</td>
</tr>
<tr>
<td>IONQ</td>
<td>2.02%</td>
<td>388,758</td>
</tr>
<tr>
<td>Alchip Technologies</td>
<td>1.58%</td>
<td>139,102</td>
</tr>
<tr>
<td>Teradyne</td>
<td>1.47%</td>
<td>96,480</td>
</tr>
<tr>
<td>Tower Semiconductor</td>
<td>1.47%</td>
<td>236,327</td>
</tr>
<tr>
<td>Global Unichip Corp</td>
<td>1.45%</td>
<td>306,991</td>
</tr>
<tr>
<td>Palantir Technologies</td>
<td>1.45%</td>
<td>159,931</td>
</tr>
<tr>
<td>Taiwan Semiconductor Manufacturing</td>
<td>1.45%</td>
<td>59,591</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: <a href="https://www.defianceetfs.com/qtum-full-holdings/">Defiance ETFs</a></figcaption></figure>
Quantum computing stocks like Quantum Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>), Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</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>) have scaled fresh highs in 2024, especially after Alphabet Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google launched Willow on Dec. 9, 2024.
<h3 class="wp-block-heading">Quantum Computing Stocks In 2024</h3>
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="614" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010908/Quantum-computing-stocks-in-224-1024x614.png" alt="" class="wp-image-716371" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010908/Quantum-computing-stocks-in-224-1024x614.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010908/Quantum-computing-stocks-in-224-300x180.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010908/Quantum-computing-stocks-in-224-768x461.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010908/Quantum-computing-stocks-in-224-1536x922.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03010908/Quantum-computing-stocks-in-224.png 1800w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also: <a href="https://www.benzinga.com/general/market-summary/25/01/42762341/sofi-tech-downgraded-over-valuation-concerns-stock-priced-three-times-its-peers">SoFi Tech Downgraded Over Valuation Concerns: Stock Priced Three Times Its Peers </a>
Why It Matters: Quantum computers, leveraging qubits, offer the potential to revolutionize computing by exponentially accelerating complex calculations.
Google&#8217;s recent Willow chip, showcasing advancements in quantum memory, achieved a benchmark computation in minutes that would take a supercomputer 10 septillion years. Despite this progress, high error rates remain a significant hurdle, hindering widespread commercial adoption and creating uncertainty around the timeline for practical applications.
According to Jon Najarian, the co-founder of Market Rebellion, Rigetti is a standout in the quantum computing space.
<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">Was on <a href="https://twitter.com/FoxBusiness?ref_src=twsrc%5Etfw">@FoxBusiness</a> to discuss Rigetti <a href="https://twitter.com/search?q=%24RGTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RGTI</a> With options extending to May 2025, it&#39;s a standout in the quantum computing space. Despite past surges, expect pullbacks but the future looks bright for <a href="https://twitter.com/hashtag/quantumcomputing?src=hash&amp;ref_src=twsrc%5Etfw">#quantumcomputing</a>. <a href="https://twitter.com/search?q=%24QUBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QUBT</a> <a href="https://twitter.com/search?q=%24QBTS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QBTS</a> Google&#39;s Willow chip and <a href="https://twitter.com/hashtag/JPMorgan?src=hash&amp;ref_src=twsrc%5Etfw">#JPMorgan</a>&#39;s… <a href="https://t.co/5HTAhAKf1d">pic.twitter.com/5HTAhAKf1d</a>
&mdash; Jon Najarian (@jonnajarian) <a href="https://twitter.com/jonnajarian/status/1874199822011347015?ref_src=twsrc%5Etfw">December 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The Kobeissi Letter, in an X post, also highlighted that &#8220;Call options trading value on quantum computing stocks is now 2,500% above average.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Are quantum computing stocks the next big thing? Call options trading value on quantum computing stocks is now 2,500% ABOVE average. Call options volume in <a href="https://twitter.com/search?q=%24IONQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IONQ</a>, <a href="https://twitter.com/search?q=%24RGTI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RGTI</a>, <a href="https://twitter.com/search?q=%24QBTS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QBTS</a>, and <a href="https://twitter.com/search?q=%24QUBT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$QUBT</a> relative to their average volume has risen 10 TIMES in just 1 month. To put this into… <a href="https://t.co/THqQWfuGQc">pic.twitter.com/THqQWfuGQc</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1871348688158966072?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Based on an X <a href="https://x.com/CitronResearch/status/1866859551166959963?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1866859551166959963%7Ctwgr%5E9f62868771334299e3b321953cbd1e018bf1f161%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost.php%3Fpost%3D716359action%3Dedit">post </a>from Dec. 11, Citron Research said, "Buying $RGTI based on Google&#8217;s quantum success is as misguided as believing every TikTok guitarist is the next Taylor Swift," said Citron Research.
What Are Other Analysts Saying: According to the analysts tracked by <a href="https://www.benzinga.com">Benzinga</a>, most of these quantum computing companies face a potential downside in the future, with the exception of IBM.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>Last Three PT's Average</td>
<td>Up/Downside Potential</td>
</tr>
<tr>
<td>Rigetti Computing</td>
<td>$6.17</td>
<td>-69.20%</td>
</tr>
<tr>
<td>Quantum Computing</td>
<td>$8.63</td>
<td>-52.95%</td>
</tr>
<tr>
<td>D-Wave Quantum</td>
<td>$8.00</td>
<td>-17.27%</td>
</tr>
<tr>
<td>IONQ</td>
<td>$39.00</td>
<td>-9.68%</td>
</tr>
<tr>
<td>IBM</td>
<td>$226.67</td>
<td>3.69%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Benzinga</figcaption></figure>
Image via Rawpixel
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/01/42763136/jim-cramer-says-year-end-selloff-triggered-by-fear-of-higher-capital-gains-taxes-here-are-the-rates-listed-by-irs">Jim Cramer Says Year-End Selloff Triggered By Fear Of Higher Capital Gains Taxes: Here Are The Rates Listed By IRS </a></li>
</ul>

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GOOG

GOOGL

IONQ

QBTS

QTUM

QUBT

RGTI

Quantum Computing Stocks Like Rigetti Computing Are Soaring And This ETF Lets Investors Participate In The Boom Story

HIMX

Himax And Calumino Collaborate To Launch Advanced CMOS Imager-Based Thermal Sensor For AI Applications

Chinese government bond yields dropped below 2% for the first time ever, highlighting <a href="https://www.benzinga.com/markets/asia/24/12/42456825/china-might-be-pivoting-to-moderately-loose-monetary-policy-but-experts-feel-bazooka-style-stimulus-wont-arrive-immediately">deepening concerns about deflation</a> in the world&#8217;s second-largest economy as the U.S. dollar reaches new highs amid diverging economic trajectories.
What Happened: The yield on China&#8217;s benchmark 10-year bond fell 1.5 basis points to 1.598%, while the 30-year yield declined 2.9 basis points to 1.819%. The People&#8217;s Bank of China is reportedly considering interest rate cuts this year, according <a href="https://www.ft.com/content/794577b2-6bdd-4a03-bfab-19463543048a">to</a> the Financial Times, as policymakers grapple with persistent deflationary pressures.
Since President-elect Donald Trump&#8216;s election victory, market dynamics have shifted significantly. The U.S. Dollar Index has surged to 109.4, its highest level since October 2022, gaining 5.54% since Nov. 5. The strengthening dollar reflects expectations of prolonged higher U.S. rates and Trump&#8217;s proposed growth-focused policies.
The yuan has weakened to 7.30 against the dollar, down 2.82% since early November, adding to Beijing&#8217;s economic challenges. Chinese stocks continued their downward trend, with the CSI 300 index falling 0.18% on Friday, even as other Asian markets gained ground.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/42779827/joe-biden-to-decide-on-nippon-steels-14-9b-us-steel-acquisition-on-friday-amid-veto-offer-labor-concerns">Joe Biden To Decide On Nippon Steel&#8217;s $14.9B US Steel Acquisition On Friday Amid Veto Offer, Labor Concerns</a>
Why It Matters: The deflationary pressure in China has <a href="https://www.benzinga.com/markets/equities/24/10/41182930/china-was-tipping-into-a-japan-style-lost-decade-of-deflation-and-stagnation-before-late-septemb">become particularly acute</a>, with <a href="https://www.benzinga.com/government/regulations/25/01/42767647/chinese-stocks-drop-as-manufacturing-growth-slows-and-geopolitical-tensions-hit">producer prices declining</a> for 26 consecutive months, dropping 2.5% year-over-year in November. This has created a challenging environment for manufacturers, forcing many to cut prices amid overcapacity and weak demand.
U.S. markets have also started 2025 on a cautious note, with the Dow Jones Industrial Average down 0.36% to 42,392.27, the S&amp;P 500 falling 0.22% to 5,868.55, and the Nasdaq Composite declining 0.16% to 19,280.79.
Japan&#8217;s 10-year government bond yield edged up to 1.09%, near its 13.5-year high of 1.11%, reflecting the country&#8217;s ongoing battle with inflation – a stark contrast to China&#8217;s deflationary struggles.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/42779846/tesla-stock-slides-as-jim-cramer-wall-street-react-to-first-ever-annual-sales-drop">Tesla Delivery Miss Fuels Heated Debate On Autonomy, Robots: Gordon Johnson Compares Optimus With 1980s Chucky Cheese Tech</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.

Bonds

Economics

Chinese Bond Yields Fall Below 2% For First Time Amid Rising Deflation Concerns And US Dollar Surge Since Trump Victory

SLRN

Reported Earlier, Acelyrin To Reveal New Phase 2 Results And Phase 3 Plans For Subcutaneous Lonigutamab

An adult-themed meme coin went ripping on price charts Thursday after tech mogul Elon Musk dropped a funny post referencing the cryptocurrency.
What happened: BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)-based CumRocket (CUMMIES) <a href="https://coinmarketcap.com/currencies/cumrocket/#About">skyrocketed </a>175% in the last 24 hours, resulting in a market capitalization of over $15 million.
The coin outstripped the gains of major cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) while its trading volume exploded 1451% to $6 million.
The searing rally followed an X post by the Tesla and Space X CEO that poked fun at the existence of adult-themed digital assets, including CUMMIES and a non-fungible token collection, NFTitties.
<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">&#x1f602; <a href="https://t.co/DkFCihb14r">pic.twitter.com/DkFCihb14r</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1874978009628950699?ref_src=twsrc%5Etfw">January 3, 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/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
The photograph depicted &#8220;Pepe the Frog&#8221; attempting to understand his tax liabilities from the Internal Revenue Service.&nbsp;
While the popular meme coin Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) gained marginally, its variant Apu Apustaja (APU) jumped 13% in response to Musk's post.
Musk might be referring to the IRS delaying new cryptocurrency tax reporting requirements by <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42774313/did-the-irs-really-just-delay-crypto-tax-reporting-requirements">providing temporary transition relief to investors</a>.
The tech titan&#8217;s social activity continues to make waves in the cryptocurrency space. He recently changed<a href="https://www.benzinga.com/24/12/42739155/elon-musk-changes-his-name-to-kekius-maximus-on-x-sending-to-memecoin-skyrocketing-over-600" target="_blank" rel="noreferrer noopener"> his name on X</a>&nbsp;to Kekius Maximus, triggering a massive rally for a coin bearing the same name.
Coins tied to adult themes were also a thing in the intriguing cryptocurrency market, with Mother Iggy (MOTHER), themed around <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39156417/iggy-azaleas-mother-meme-coin-makes-dramatic-comeback-after-launch-controversy">Australian rapper</a> Iggy Azalea, being the most prominent with a market value exceeding $34 million, <a href="https://coinmarketcap.com/view/adult/">according </a>to CoinMarketCap.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758291/elon-musks-return-to-original-x-avatar-causes-coin-themed-on-kekius-maximus-to-crash-90-frog-themed-pepe-slips-as-well">Elon Musk&#8217;s Return To Original X Avatar Causes Coin Themed On &#8216;Kekius Maximus&#8217; To Crash 90% — Frog-Themed PEPE Slips As Well</a></li>
</ul>

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

Cryptocurrency

$BNB

$BTC

$DOGE

$PEPE

Elon Musk's X Post Sends Adult-Themed Crypto Shooting Up 175%

While 2024 witnessed Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) vehicle deliveries fall year-on-year for the first time, its energy storage deployments hit new highs.
What Happened: The EV company said on Thursday that it deployed 31.4 GWh of energy storage products in 2024, up from 14.7 GWh in 2023 and marking a growth of 114% year over year.
Tesla&#8217;s energy storage deployments have been steadily rising for the past five years. In 2019, the company deployed only 1.7 GWh of energy storage.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="710" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--1024x710.png" alt="" class="wp-image-716331" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--1024x710.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--768x533.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh-.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: Tesla</figcaption></figure>
However, Tesla also reported its <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on">first fall in annual vehicle deliveries</a> on Thursday. The company delivered 1,789,226 vehicles in 2024, 1.1% less than the 1,808,581 deliveries reported for 2023. 
Why It Matters: Tesla manufactures two energy storage products –&nbsp;<a href="https://www.benzinga.com/news/24/08/40478134/tesla-breaks-powerwall-production-record-at-giga-nevada-as-it-aims-to-ramp-up-energy-storage-deploym" target="_blank" rel="noreferrer noopener">the Powerwall&nbsp;</a>and the<a href="https://www.benzinga.com/news/24/11/41737630/tesla-makes-10-000th-megapack-at-california-as-energy-segment-booms" target="_blank" rel="noreferrer noopener"> Megapack</a>. While the powerwall is a compact home battery that stores energy generated by solar or from the grid, each Megapack unit can store over 3.9 MWh of energy.
Tesla currently operates a Megafactory in Lathrop, California, capable of making 10,000 Megapack units in a year. The company is also putting up a Megafactory in Shanghai which it expects to start shipping Megapacks in the first quarter of 2025. It has already <a href="https://www.benzinga.com/news/global/24/12/42737037/tesla-shanghai-megafactory-starts-trial-production-seven-months-after-breaking-ground">commenced trial production</a>.
In the three months through the end of September, Tesla's energy generation and storage revenue&nbsp;<a href="https://www.benzinga.com/news/24/10/41537560/teslas-energy-segment-boom-in-q3-sparks-leadership-changes-veteran-mike-snyder-promoted-as-vp" target="_blank" rel="noreferrer noopener">touched $2.38 billion</a>, marking a growth of 52% as compared to the corresponding period of last year. The revenue from the segment, in fact, accounted for 9.4% of the company&#8217;s total revenue in the period.
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>
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</ul>
Photo courtesy: Shutterstock

TSLA

Tesla's Energy Storage Deployments Hit New Highs In Q4 Even As Vehicle Deliveries Disappoint

As of December 31, 2024, the Company's net assets were $2.4 billion, and its net asset value per share was $13.90. As of December 31, 2024, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 653% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 488%.

Reported Earlier, Kayne Anderson Energy Infrastructure Fund Net Assets Were $2.4B, And	Net Asset Value Per Share Was $13.90 As Of December 31, 2024

U. S. Steel is making this commitment to thank the local communities for supporting us as we pursue our transaction with Nippon Steel, and in recognition of the vital role our employees play to drive the local economy and the American steel industry.
This commitment will only be made possible with the investments that Nippon Steel will make in our company, securing our facilities for generations to come, especially at the Mon Valley in Western Pennsylvania.

NPSCY

Reported Earlier, U.S. Steel And Nippon Steel To Fund Workforce Training Center In Western PA

Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) has introduced two new devices in the U.S. market: the Galaxy Fit 3 and the Galaxy A16 5G.&nbsp;
What Happened: These products, initially launched in other regions last October, are now available for American consumers.
Galaxy Fit 3: It is a budget-friendly fitness tracker, similar to the Fitbit Charge 6 or Fitbit Inspire 3, owned by Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google. The device is available for $59.99 and comes in three color options: Gray, Silver, and Pink Gold.
See Also: <a href="https://www.benzinga.com/tech/24/12/42735755/mrbeasts-daring-new-challenge-live-in-a-jet-for-100-days-and-then-keep-it-are-you-game?itm_source=parsely-api">MrBeast&#8217;s Daring New Challenge: Live In A Jet For 100 Days And Then Keep It — Are You Game?</a>
It features a 1.6-inch AMOLED display, which is 45% larger than its predecessor, and offers up to 13 days of battery life. It is water-resistant and can track over 100 workout types.&nbsp;
The Galaxy Fit 3 also includes sleep tracking and <a href="https://www.benzinga.com/news/24/01/36690640/masimo-ceo-wholeheartedly-feels-apple-watch-users-are-better-off-without-blood-oxygen-monitoring-fea">blood oxygen monitoring</a> — a feature that's missing from Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Watch Series 10.
Galaxy A16 5G: The smartphone is priced at $199 and boasts a 6.7-inch Full HD+ AMOLED display with a 90Hz refresh rate.
It is powered by Samsung&#8217;s Exynos 1330 chip and a 5,000mAh battery. The phone includes a 50-megapixel primary camera and promises six years of Android OS updates and security patches.
The device is available in Blue Black and Light Gray options.
Availability: Both devices will be available for purchase starting Jan. 9. 2025, through Samsung&#8217;s website, retailers, and carriers. Purchasing the Galaxy A16 5G offers a 50% discount on the Galaxy Fit 3.
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.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="724" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-1024x724.jpg" alt="" class="wp-image-716319" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-1024x724.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-300x212.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-768x543.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1.jpg 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: Samsung</figcaption></figure>
Why It Matters: According to <a href="https://www.benzinga.com/24/12/42570544/apple-watch-is-getting-a-run-for-its-money-as-chinese-tech-giants-led-by-huawei-lead-20-growth-in-global-wrist-worn-device-market">an IDC report released</a> last month, the global wrist-worn device market saw shipments reach 139 million units in the first three quarters of 2024.
This growth was driven by Chinese tech giants like Huawei Technologies, challenging established players such as Apple. Samsung ranked fourth globally with 11.5 million units shipped, securing an 8.3% market share.
Samsung is also preparing to launch its Galaxy S25 series, <a href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max">expected to be released</a> on Jan. 22 later this month. The South Korean giant has been <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">facing intense competition</a> from Apple and Huawei in the smartphone market.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

SSNLF

Samsung Challenges Google With $60 Fitbit Killer, Also Brings $200 Budget Smartphone To The US: What You Need To Know

It's not news that crazy things happen in the cryptocurrency space. But if someone told you a coin named Fartcoin (FARTCOIN) would run into a billion-dollar valuation and hit new highs every week, you might still scratch your head, trying to make sense of it all.
What happened: The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based coin, having the most frivolous of names, soared 21% to become the market's third-best-performing cryptocurrency in the last 24 hours.
The coin hit an all-time high of $1.45 on Thursday before a slight correction. At its peak, FARTCOIN was worth more than Nasdaq-listed Papa John&#8217;s International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>).
It boasted a market capitalization of $1.32 billion at the time of writing, with trading volumes jumping 228% in the last 24 hours.
FARTCOIN outshone mainstream cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), which gained just 2.19% and 2.32%, respectively.
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"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
The meme coin has triggered polarizing opinions in the cryptocurrency space.&nbsp;
"Pharma Bro" Martin Shkreli said the coin was worth nothing and would go to zero.
<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 am saying Fartcoin is worth nothing and will go to zero. fuck you and your memes. PVP draining each other when we should be upliftin&#39; and shit <a href="https://t.co/ukYlPn6tqH">https://t.co/ukYlPn6tqH</a>
&mdash; Martin Shkreli (@MartinShkreli) <a href="https://twitter.com/MartinShkreli/status/1874881496600936677?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, a widely followed trader who goes by the pseudonym of Altcoin Sherpa has been on a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42756059/crypto-analyst-bullish-on-this-meme-coin-thats-turned-heads-with-4000-surge">FARTCOIN accumulating spree</a>, attributing his confidence to the coin's strong meme potential.
Price Action: At the time of writing, FARTCOIN was exchanging hands at $1.36, up 21.6% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/fartcoin/">according </a>to CoinMarketCap.
Photo Courtesy: file404 On Shutterstock.com
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$ETH

$SOL

PZZA

Fart Coin Goes From Giggles To Gains As Meme Coin Hit New Highs, Equals Papa John's Valuation

Chinese EV giant BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) overtook Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) yet again as the world&#8217;s biggest battery electric vehicle (BEV) seller in the fourth quarter of 2024. 
What Happened: Tesla reported on Thursday that it delivered <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on">495,570 BEVs in the three months</a> through the end of December, significantly lower than the 595,413 BEVs <a href="https://www.benzinga.com/25/01/42758760/tesla-rival-byd-marks-50-growth-in-december-passenger-vehicle-sales-likely-to-trump-tesla-in-q4-bev-sales-yet-again">sold by BYD</a> in the period.
Though BYD managed to trump Tesla in the fourth quarter, the American EV giant delivered 1,789,226 BEVs through 2024, retaining its position as the bestselling pure EV brand for the year. BYD, meanwhile, managed to deliver only 1,764,992 BEVs in the twelve months, or 24,234 units less than Tesla. 
Why It Matters: BYD first took over Tesla as the world&#8217;s largest BEV seller in the last quarter of 2023. Tesla took back the title in the first quarter of 2024 and <a href="https://www.benzinga.com/24/12/42680542/tesla-or-byd-which-ev-giant-will-sell-more-battery-electric-vehicles-in-q4">retained it for three consecutive quarters</a>. 
2024 marks the first year that Tesla&#8217;s annual deliveries have fallen (1.1%) as compared to the previous year. In 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company had to deliver at least 514,926 vehicles in the three months through the end of December.&nbsp;However, the company could not even breach the 500,000 target. 
BYD&#8217;s 2024 BEV sales, meanwhile, marked a growth of 12% year-on-year, according to a previous report.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Photo via Shutterstock
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</ul>

BYDDF

BYDDY

Tesla Overtaken by BYD Again: Chinese Player Becomes World's Biggest EV Seller In Q4

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has agreed to pay $95 million to settle a lawsuit alleging its Siri voice assistant recorded users&#8217; private conversations without consent, according to court documents filed Tuesday at the U.S. District Court for the Northern District of California.
What Happened: The preliminary settlement could benefit millions of U.S. consumers who owned Apple devices between September 2014 and December 2024, Reuters reported. 
Eligible users can receive up to $20 per Siri-enabled device, with a limit of five claims per person. Approved claimants should receive payments within 60 days of filing.
The lawsuit stemmed from user complaints that Siri would accidentally activate and record private conversations, which allegedly resulted in targeted advertising. Users claimed Apple shared these recordings with third-party companies, though Apple has denied these privacy violation allegations.
See Also: <a href="https://www.benzinga.com/25/01/42779889/carvana-unity-software-supercom-rigetti-computing-tesla-why-these-5-stocks-are-on-investors-radars-today">Carvana, Unity Software, SuperCom, Rigetti Computing, Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
Why It Matters: As part of the settlement, Apple must delete any unauthorized <a href="https://www.benzinga.com/news/23/12/36270839/apple-settles-family-sharing-class-action-lawsuit-for-25m-heres-how-you-can-claim-your-share">recordings made before</a> October 2019 within six months of the agreement&#8217;s effective date. The company will also revise its user guidance about the &#8220;Improve Siri&#8221; option to clarify what information may be stored.
In late 2023, Google settled a similar lawsuit for $700 million over unauthorized <a href="https://www.benzinga.com/news/23/12/36296656/google-agrees-to-700m-settlement-in-antitrust-case-promises-play-store-policy-revisions">recordings by its voice assistant</a>.
The court has scheduled the next hearing for Feb. 14 in Oakland to finalize the settlement terms. 
Price Action: Apple&#8217;s stock closed at $243.85 on Thursday, down 2.62% for the day. In after-hours trading, the stock rose 0.057%. Over the past year, Apple has seen a significant increase, rising by 31.36%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Apple Settles $95 Million Lawsuit Over Siri Privacy Violations: Here's The Amount Affected Users Will Receive

Bettors on the cryptocurrency-based prediction market Polymarket eyed a strong possibility that a new country would switch to the "Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Standard" this year.
What happened: A new contract titled, "Will a new country buy Bitcoin in 2025?" went live on the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based platform on New Year's Day, with odds in favor jumping past 75% as of this writing.
As per rules, the market will resolve to "Yes" if any sovereign U.N. member buys the apex cryptocurrency for the first time before Dec. 31. As of this writing, over $40,000 has been wagered on this bet.
Polymarket's official X handle posted the contract with the caption, "Who will follow in Nayib Bukele's footsteps?" referring to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42740881/can-bitcoin-as-legal-tender-reshape-a-nations-economy-lessons-from-el-salvador">pioneering Bitcoin embrace </a>of El Salvador. The post was reshared by Bukele.
<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">There&#39;s a 75% chance a new country buys Bitcoin this year. Who will follow in <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a>&#39;s footsteps? <a href="https://t.co/MM6fQJRMUc">pic.twitter.com/MM6fQJRMUc</a>
&mdash; Polymarket (@Polymarket) <a href="https://twitter.com/Polymarket/status/1874849664425767267?ref_src=twsrc%5Etfw">January 2, 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/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
Why It Matters: El Salvador was indeed the first country to buy Bitcoin as a treasury reserve asset back in 2021, in what was seen as an audacious move with regards to fiscal policy. The country has adopted a plan <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37763988/pro-bitcoin-president-nayib-bukele-says-el-salvador-will-purchase-btc-daily-until-king-cry">to buy one Bitcoin every day</a>, until it becomes unaffordable with fiat currencies.
The Central American nation currently sits on a stockpile of 6,005 BTCs, worth nearly $582 million.&nbsp;
The list is dominated by bigger countries like the U.S., China, and the UK, although none of them treat Bitcoin as a strategic reserve asset.
As for the U.S., expectations have run high after Donald Trump's victory, who pledged to establish a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42720168/will-trump-administration-sell-gold-to-buy-bitcoin-for-strategic-reserve-in-2025-analyst-s">national Bitcoin stockpile</a> during the election campaign. As of this writing, the <a href="https://polymarket.com/event/us-national-bitcoin-reserve-in-2025/us-national-bitcoin-reserve-in-2025?tid=1735875200334">odds </a>of the U.S. establishing a reserve in 2025 were 38% on Polymarket.
The U.S. government holds 198,109 Bitcoins in asset forfeiture funds, <a href="https://intel.arkm.com/explorer/entity/usg">according </a>to latest data analytics firm, Arkham Intelligence
Price Action: At the time of writing, Bitcoin was exchanging hands at $96,815.55, up 1.99% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
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$POL

Bitcoin Adoption By Another Nation? Polymarket Shows 75% Odds Of New Country Following El Salvador's Path In 2025

Mexican authorities have imposed a 19% tariff on goods imported via courier from China, affecting popular online retailers Shein and PDD Holdings Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39708215/amazon-vs-temu-shein-tiktok-shop-whos-winning-the-us-e-commerce-battle">rivals to</a> Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
What Happened: This tariff, effective Wednesday, targets countries without relevant international treaties with Mexico, <a href="https://asia.nikkei.com/Economy/Trade-war/Temu-and-Shein-face-fallout-from-Mexico-s-new-tariff">reported</a> Nikkei Asia.
For imports from the U.S. and Canada, which are part of the U.S.-Mexico-Canada Agreement or USMCA, a 17% tariff will apply to goods priced between $50 and $117.
Previously, such small package imports were not subject to tariffs, according to Mexico&#8217;s Tax Administration Service.
See Also: <a href="https://www.benzinga.com/tech/24/12/42718022/days-after-key-nvidia-supplier-warned-of-ai-spending-slowdown-another-nvda-partner-considers-accelerating-expansion-to-meet-growing-demand?itm_source=parsely-api">Days After Key Nvidia Supplier Warned Of AI Spending Slowdown, Another NVDA Partner Considers Accelerating Expansion To Meet Growing Demand</a>
With inflation in Mexico above 4%, Chinese retailers have gained traction by offering low-cost products, partly due to reduced shipping and handling expenses.
Temu and Shein have expanded by selling Chinese-made items in markets with higher prices, leveraging de minimis exemptions that waive tariffs for packages below certain values, the report noted.
Why It Matters: The new tariff may signal a message to President-elect Donald Trump, who has criticized Mexico&#8217;s openness to Chinese imports.
Following Trump&#8217;s election, Mexico, under President Claudia Sheinbaum, has taken stricter measures against Chinese goods, including raids on suspected illegal imports.
Last year, Trump announced plans to impose a 25% tariff on all products from Mexico and Canada, <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">citing concerns over</a> border security and illegal immigration. He also plans to increase tariffs on Chinese imports by 10% to address the flow of fentanyl into the U.S.
Economists have warned that Trump&#8217;s proposed tariffs could <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it">lead to higher costs</a> for American households, particularly on essential items like groceries, housing, and cars.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Amazon's Chinese Rivals Temu And Shein Got Hit Hard By Tariffs In This Country, Is It A Sign Of Things To Come Under Trump?

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk said on Thursday that the company will put the Cybertruck that was involved in an <a href="https://www.benzinga.com/general/entertainment/25/01/42757028/tesla-cybertruck-ignites-outside-trump-international-hotel-in-las-vegas">explosion outside the Trump International Hotel </a>on New Year's Day back on the road after repairs.
What Happened: &#8220;Once we get this Cybertruck back to Tesla, we'll buff out the scratches and get it back on the road,&#8221; Musk said in a post on social media platform X while adding that neither the vehicle battery pack nor its tires were damaged as a result of the explosion. 
<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 battery pack never even caught fire and the tires are still inflated! Once we get this Cybertruck back to Tesla, we'll buff out the scratches and get it back on the road.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1874923549745627610?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On Wednesday morning, a Tesla Cybertruck exploded outside the Trump International Hotel. The only occupant of the vehicle, believed to be 37-year-old Matthew Livelsberger, died in the incident and several others sustained injuries. 
Why It Matters: According to police officials, the vehicle occupant rented the vehicle on Dec. 28 and died of a self-inflicted gunshot wound before the explosion. The police also recovered firearms, fireworks, and gas canisters from the vehicle. An investigation into the motive behind the incident is ongoing. 
Musk confirmed on the day of the explosion that it was caused by &#8220;fireworks and/ or a bomb&#8221; in the <a href="https://www.benzinga.com/tech/25/01/42757901/elon-musk-fireworks-or-explosive-device-caused-fatal-cybertruck-incident-at-las-vegas-trump-hotel-vehicle-was-rented">truck bed of the rented Cybertruck</a> and is unrelated to the vehicle.
&#8220;All vehicle telemetry was positive at the time of the explosion,&#8221; Musk then said.
Image via Shutterstock
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>
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Tesla Will Put Cybertruck Involved In Explosion At Trump Hotel Back On Road, Says Elon Musk: 'We'll Buff Out The Scratches'

On Thursday, the U.S. Court of Appeals for the 6th Circuit struck down the Federal Communications Commission&#8217;s net neutrality rules.
What Happened: This decision represents a major policy win for Republicans and poses a challenge to the Joe Biden administration&#8217;s internet regulation agenda.
Democrats have been advocating for stricter controls akin to those on traditional telephone networks, while Republicans favor a more relaxed approach.
The 6th Circuit judges referenced a Supreme Court ruling from June that struck down the Chevron deference principle, enabling them to question the FCC&#8217;s authority. Chevron deference refers to the flexibility federal judges grant agencies in interpreting the statutes they oversee when disputes occur.
See Also: <a href="https://www.benzinga.com/tech/24/12/42718022/days-after-key-nvidia-supplier-warned-of-ai-spending-slowdown-another-nvda-partner-considers-accelerating-expansion-to-meet-growing-demand?itm_source=parsely-api">Days After Key Nvidia Supplier Warned Of AI Spending Slowdown, Another NVDA Partner Considers Accelerating Expansion To Meet Growing Demand</a>
The court argued that internet service providers are not simply &#8220;dumb pipes&#8221; and should not be regulated like utilities.
FCC chairwoman Jessica Rosenworcel has called on Congress to legislate open internet principles.
Brendan Carr, President-elect Donald Trump-appointed FCC chairman, praised the court&#8217;s decision and promised further deregulatory actions.
"The work to unwind the Biden Administration's regulatory overreach will continue," he said, <a href="https://www.washingtonpost.com/technology/2025/01/02/net-neutrality-fcc-sixth-circuit-strike-down/">reported</a> The Washington Post.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Net neutrality is based on the <a href="https://www.benzinga.com/general/politics/17/12/10865684/survey-heres-how-americans-feel-about-net-neutrality">principle that internet service providers</a> like Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), and Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) are required to treat all internet traffic equally, ensuring uniform speed and access, no matter which company is behind the content.
Supporters of net neutrality argue that these rules are crucial to prevent internet service providers from abusing their power, such as throttling access to certain websites.
Critics, however, say there&#8217;s little evidence of such discrimination and warn that increased regulation could hinder innovation.
Previously, the Computer &amp; Communications Industry Association, which counts Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) among its members, supported the reinstatement of the rules, stating that they are necessary to maintain open internet access.
Price Action: According to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>, Comcast&#8217;s stock dropped 0.29% on Thursday, while AT&amp;T rose by 0.26% and Verizon increased by 0.55%.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Image via Flickr
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Biden-Era Net Neutrality Rules Overturned By Federal Appeals Court: What It Means For Net Freedom, Cybersecurity And Consumers

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