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News

Japan's Kyodo News Agency Reported Chinese Military Plane Violates Japan's Airspace, Citing Defense Ministry

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is ramping up production of the adapters required by rival EV companies to charge on the company&#8217;s supercharger network at its gigafactory in New York. 
What Happened: Tesla&#8217;s gigafactory in New York has touched a production milestone of 8000 adapter units in a week, the company said in a post on X last week. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congrats GFNY team ramping NACS adapter production to 8k units per week &#8211; OEMs are also ramping suppliers. <a href="https://t.co/BemW2wV9rH">pic.twitter.com/BemW2wV9rH</a>
&mdash; Tesla Charging (@TeslaCharging) <a href="https://twitter.com/TeslaCharging/status/1827129809094504864?ref_src=twsrc%5Etfw">August 23, 2024</a></blockquote>
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The adapters manufactured in the factory are for rival EV makers including Ford. Ford EV customers can use the adapter to charge on Tesla&#8217;s supercharging network until the company introduces compatible charging ports on its new EVs.
Ford CEO Jim Farley said in an interview in June that the company has&nbsp;<a href="https://www.benzinga.com/news/24/02/37397115/ford-rolls-out-access-to-tesla-supercharging-network-today-what-customers-investors-should-know" target="_blank" rel="noreferrer noopener">received 100,000 applications</a>&nbsp;for adapters and has shipped a few thousand so far, with <a href="https://www.benzinga.com/news/24/06/39159541/really-an-incredible-person-jim-farley-says-theres-respectful-rivalry-with-tesla-ceo-elon-musk-outli">plans to fulfill the remaining 90,000 applications.</a>
Why It Matters: Ford and&nbsp;Rivian entered into partnerships with Tesla to give their EV customers <a href="https://www.benzinga.com/news/24/06/39159541/really-an-incredible-person-jim-farley-says-theres-respectful-rivalry-with-tesla-ceo-elon-musk-outli" target="_blank" rel="noreferrer noopener">access to Tesla&#8217;s supercharger network</a>. EV customers of the two companies can charge at over 15,000 Tesla supercharger stalls across North America with adapters until they introduce compatible charging ports.
Ford and Rivian did not immediately respond to Benzinga&#8216;s request for comment on how many adapters have been delivered to their customers to date. 
Tesla, on its website, has five names in the list of companies it intends to open access to its supercharging network "soon," including Nissan,&nbsp;General Motors,&nbsp;Volvo,&nbsp;Polestar, and&nbsp;Mercedes-Benz.
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 More:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40546244/tesla-engineer-says-enabling-cybertruck-owners-to-use-power-outlets-onboard-when-supercharging-will">Tesla Engineer Says Enabling Cybertruck Owners To Use Power Outlets Onboard When Supercharging Will Be Difficult: Here&#8217;s Why</a></li>
</ul>
Photo via Shutterstock

Tech

TSLA

Tesla's New York Gigafactory Touches New Production Milestone: Makes 8000 Supercharger Adapters In A Week

Aurora Mobile Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JG#NASDAQ">JG</a>) ("Aurora Mobile" or the "Company"), a leading provider of customer engagement and marketing technology services in China, today announced that it has signed a strategic agreement with Closeli, Inc. ("Closeli"), a technology innovation company focused on visual AI cloud platform services and intelligent hardware development. Leveraging Aurora Mobile's push notification solution JPush, the Company will provide intelligent messaging services for Closeli's open cloud platform. The two companies will jointly promote the construction of the intelligent visual cloud platform and create a new user experience.

Aurora Mobile Teams Up with Closeli to Enhance Visual AI Cloud Platform with Intelligent Messaging Services

OUTLOOK
For the full year 2024, the Company currently expects:
-Revenues of the Continuing Businesses to be between RMB1.7 billion and RMB1.9 billion. -Income from operations of the Continuing Businesses to be between RMB110 million and RMB130 million.

Guidance

VIOT

Viomi Technology Co Expects FY24 Revenue From Continuing Businesses Of RMB1.7B-RMB1.9B

Earnings

Viomi Technology Co H1 Adj EPADS $0.03 Up From $(0.11) YoY, Sales $143.13M Down From $179.90M YoY

ANEW MEDICAL, INC. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WENA#NASDAQ">WENA</a>), a leading U.S. biotechnology company pioneering cell and gene-based treatments for aging and age-related diseases, announces the successful conversion of its convertible promissory notes by investors. This strategic move significantly strengthens ANEW's balance sheet by eliminating over $4 million in long-term debt. &nbsp;
The elimination of over $4 million in long-term debt not only clears ANEW's balance sheet but also significantly increases stockholder equity, positioning the company for future growth and investment opportunities. It also eliminates $600,000 in annual interest payments owed by the company. The average conversion price was approximately $1.08 per share, echoing investors' long-term commitment to the Company.

WENA

ANEW Medical Clears $4M Debt, Cuts $600K in Annual Interest Payments, and Prepares for Future Growth

Santech Holdings Limited ("Santech", or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STEC#NASDAQ">STEC</a>), a consumer-focused technology company in China, today announced that the Company's board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$5 million worth of its outstanding American Depositary Shares ("ADSs"), each representing two ordinary shares, over the next 12 months starting from August 26, 2024.

Buybacks

STEC

Santech Holdings Board Approved A $5M Share Repurchase Program For Its American Depositary Shares

Thailand authorities have uncovered an illicit Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining operation, believed to be the cause behind a series of power outages.
What Happened: A combined force of local police and officials from the Provincial Electricity Authorities (PEA) carried out a raid on a house in Ratchaburi town, located west of the capital Bangkok, <a href="https://www.scmp.com/news/asia/southeast-asia/article/3275823/thai-authorities-raid-illegal-bitcoin-mine-after-power-outages">reported</a> the South China Morning Post on Sunday. The raid was prompted by complaints from residents about recurrent blackouts for over a month.
During the raid, the authorities discovered Bitcoin mining rigs, indicating that the house was being used to operate a mine and consume electricity without paying the full charges. 
It further came to authorities&#8217; notice that a company had rented the house for approximately four months, and the power outages started around mid-July, coinciding with the time the mine likely became fully operational.
The raid did not result in any arrests, as the operators fled, expecting an oncoming crackdown. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40527779/shiba-inu-burn-rate-soars-1-198-with-28m-shib-destroyed-amazon-drivers-classified-as-emplo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Time To Become Bullish On Ethereum? Top Trader Highlights Reasons Why It May Just Be</a>
Why It Matters: Illegal mining has been on the rise in recent years, and the latest bust was the fourth such this year in Ratchaburi.
Bitcoin mining is a power-intensive activity, estimated to consume 148.46 terawatt-hours (TWh) of electricity annually, <a href="https://ccaf.io/cbnsi/cbeci">according </a>to the Cambridge Bitcoin Electricity Consumption Index.
To meet these exorbitant expenses, miners, who are the original owners of any Bitcoin, periodically liquidate their holdings.
But since the<a href="https://www.benzinga.com/money/what-is-bitcoin-halving"> last halving</a> in April, their revenue streams have been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40528109/bitcoin-halving-squeezes-miners-but-marathon-cleanspark-stand-out-jpmorgan">greatly impacted </a>due to the 50% cut in rewards they get from successfully adding a new block to the network.
Price Action: At the time of writing, Bitcoin was exchanging hands at $63,792.05, down 0.31% 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: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40541513/bitcoin-atm-market-is-undergoing-necessary-correction-coinflip-founder-daniel-polotsky-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin ATM Market Is Undergoing &#8216;Necessary Correction,&#8217; CoinFlip Founder Daniel Polotsky Says</a></li>
</ul>
Image Via Shutterstock

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

Cryptocurrency

Markets

$BTC

Bitcoin Mining Operation Linked To Month-Long Blackouts Uncovered In Thailand

North Korean leader Kim Jong Un supervised a successful test of the country&#8217;s new &#8220;suicide drones,&#8221; urging researchers to integrate artificial intelligence into these unmanned vehicles, as per state media reports.
What Happened: Kim visited the Drone Institute of North Korea&#8217;s Academy of Defence Sciences on Saturday. The drones successfully identified and destroyed test targets, including a mock tank, following different preset routes. 
Kim encouraged the production of more suicide drones for tactical infantry and special operation units, including underwater suicide attack drones, strategic reconnaissance, and multi-purpose attack drones, Reuters reported.
State media released photos showing at least four different types of drones, some of which were launched with small rocket engines before their propellers took over. When questioned about the visual similarities between some of the North Korean drones and Russia&#8217;s ZALA Lancet and the Iranian-designed Shahed, South Korea&#8217;s Joint Chiefs of Staff stated that further analysis is needed.
See Also: <a href="https://www.benzinga.com/news/24/08/40525794/trump-vs-harris-new-poll-shows-vice-presidents-favorability-surges-by-double-digits-as-rivals-slips?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: New Poll Shows Vice President&#8217;s Favorability Surges By Double Digits As Rival&#8217;s Slips — Pollster Flag This As Key Event For Continued Momentum</a>
Why It Matters: This is the first time Pyongyang has unveiled suicide drones. In 2022, several North Korean drones crossed the border into South Korea, even briefly entering a no-fly zone around Seoul&#8217;s presidential office. In response, South Korea plans to deploy laser weapons to shoot down North Korean drones this year, making it the first country to deploy and operate such weapons in the military. 
This development follows a series of <a href="https://www.benzinga.com/news/23/07/33453769/north-korean-leader-kim-jong-un-displays-new-aircraft-resembling-us-military-drones">military advancements by North Korea</a>, including the display of new aircraft resembling U.S. military drones in 2023, the testing of a new multiple rocket launch system in 2024, and the launch of two <a href="https://www.benzinga.com/news/24/06/39567027/kim-jong-uns-north-korea-launches-2-ballistic-missiles-south-korean-chiefs-of-staff-say-act-seriousl">ballistic missiles in June.</a> 
Amid these increasing threats, South Korea's Defense Minister nominee, Kim Yong Hyun, has <a href="https://www.benzinga.com/news/24/08/40417195/amid-kim-jong-uns-increasing-nuclear-threats-seouls-defense-minister-nominee-is-open-to-all-means-an">signaled readiness to consider </a>all possible measures against North Korea's nuclear threats, emphasizing the significance of the alliance with the United States in addressing these threats.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>
Image via Shutterstock

Politics

General

Kim Jong Un Oversees Successful Test Of North Korea's New 'Suicide Drones' As

The much-awaited earnings report from artificial intelligence stalwart Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is around the corner and analysts expect <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40457660/top-analyst-says-nvidia-poised-for-strong-q2-results-theres-still-a-ton-of-spending">another quarter of robust performance from the company.</a> The earnings report of the Jensen Huang-led company is vital for the continuation of the market rally, according to market strategists.
The Street View: For the second quarter of fiscal 2025, analysts, on average, expect earnings of $0.64 per share and revenue of $28.68 billion, according to data available on Benzinga Pro data. This compares to the year-ago numbers of 25 cents (split-adjusted) in earnings and $13.51 billion in revenue.
It is widely expected that Nvidia shares, which are up over 160% year-to-date, could rally further if quarterly results beat the high bar and the management offers positive commentary regarding AI accelerators&#8217; production and ramp-up. 
The average analysts&#8217; one-year price target for Nvidia shares, based on data compiled by TipRanks, is $149.89, which points to roughly 16% upside from current levels. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best AI Stocks</a>
Biggest Beneficiaries: Nvidia is undoubtedly a retail favorite now but the bulk of the shares (66.75% of the outstanding shares) are held by institutions, and insiders account for 4.29%, according to the Yahoo Finance database. The top institutions holding a big chunk of shares are as follows:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Institutions/Insiders</td>
<td>No of Shares Held</td>
<td>% Of total Outstanding Shares</td>
</tr>
<tr>
<td>Vanguard Group Inc</td>
<td>2.15M</td>
<td>8.72%</td>
</tr>
<tr>
<td>BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>)</td>
<td>1.84M</td>
<td>7.48%</td>
</tr>
<tr>
<td>Fidelity Investments</td>
<td>1.04M</td>
<td>4.24%</td>
</tr>
<tr>
<td>State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>)</td>
<td>0.982M</td>
<td>3.99%</td>
</tr>
<tr>
<td>Jensen Huang (CEO)</td>
<td>0.862M</td>
<td>3.50%</td>
</tr>
<tr>
<td>Geode Capital Management</td>
<td>0.535M</td>
<td>2.17%</td>
</tr>
<tr>
<td>Price T Rowe Associates</td>
<td>0.445M</td>
<td>1.81%</td>
</tr>
<tr>
<td>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>0.391M</td>
<td>1.59%</td>
</tr>
<tr>
<td>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</td>
<td>0.337M</td>
<td>1.37%</td>
</tr>
<tr>
<td>Norges Bank Investment Management</td>
<td>0.292M</td>
<td>1.19%</td>
</tr>
</tbody>
</table>
</figure>
Huang is among the AI billionaires, whose wealth rose in geometric proportion amid the rising popularity and the large-scale adoption of the technology. Forbes estimates Huang&#8217;s wealth at $113 billion, and he is ranked 20 on the publication&#8217;s billionaires list.
Nvidia closed Friday&#8217;s session up 4.55% at $129.37 on Friday and the stock was up an incremental 0.83% in Monday&#8217;s premarket session, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40479226/nvidia-down-about-10-from-all-time-highs-prominent-trader-says-he-has-cashed-out-of">Nvidia Down About 10% From All-Time Highs: Prominent Trader Says He Has Cashed Out Of The Stock Barely A Week Ahead Of Earnings And Will &#8216;Decide On Re-entering&#8217; Later</a></li>
</ul>
Image Via Shutterstock

Equities

Media

NVDA

Nvidia Earnings Round The Corner: Top Investors In Jensen Huang's Company Set To Benefit If Q2 Appeases Street

Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Optimus humanoid robot was displayed at the World Robot Conference in Beijing, which began on Wednesday. The event saw a record 27 humanoid robots debut.
What Happened: While Chinese companies showcased robots performing various tasks like playing the zither and grabbing sodas, Tesla's Optimus remained stationary inside a clear box, <a href="https://www.cnbc.com/2024/08/26/teslas-optimus-faces-humanoid-competition-at-beijing-robot-conference.html">reported</a> CNBC on Sunday. 
Elon Musk has previously claimed that Optimus can perform household chores and plans to test the robots in Tesla factories next year.
Investment in China's robotics industry has surpassed 100 billion yuan ($14.01 billion) over the past decade, according to Wei Cao of Lanchi Ventures. Cao anticipates that humanoid robots will achieve commercially viable use cases in manufacturing within the next year or two.
Several startups, including Shanghai-based Agibot and Shenzhen-based Stardust Intelligence, displayed their humanoid robots at the conference. Agibot plans to start deliveries in mid-October, while Stardust's robots demonstrated tasks like folding shirts and pouring wine.
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40541739/royal-society-may-consider-expelling-elon-musk-has-he-gone-too-far?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Royal Society May Consider Expelling Elon Musk: Has He Gone Too Far?</a>
Why It Matters: The competition between Tesla and Chinese companies in the robotics sector is intensifying. China&#8217;s push towards robotics is backed by President Xi Jinping&#8216;s policy of fostering "new productive forces" in technology. Earlier this year, Beijing and Shanghai <a href="https://www.benzinga.com/news/24/08/40522668/driven-by-xi-jinpings-goal-for-new-productive-forces-china-now-races-against-tesla-to-build-battery">launched a $1.4 billion state-backed fund</a> for robotics, emphasizing the country&#8217;s commitment to this sector.
China&#8217;s Ministry of Industry and Information Technology recently published a blueprint targeting the <a href="https://www.benzinga.com/news/23/11/35656672/china-plans-to-reshape-the-world-by-mass-producing-humanoid-robots">mass production of humanoid robots by 2025</a>. The country aims to support robotics startups to develop talent and &#8220;reshape the world&#8221; through advanced robotics.
Meanwhile, Musk has hinted at a delay in Tesla&#8217;s Optimus production timeline. Initially, Musk projected that Optimus would be performing useful tasks in Tesla factories by the end of this year, with external sales starting in 2025. However, he recently adjusted this timeline, stating that Optimus will &#8220;hopefully&#8221; be available <a href="https://www.benzinga.com/news/24/07/39880470/elon-musk-pushes-back-optimus-timeline-says-teslas-humanoid-robot-will-hopefully-be-available-for-ot">for other companies by 2026</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40542418/elon-musk-lauds-new-boeing-ceo-after-nasa-picks-spacex-to-return-starliner-crew-this-is-the-right-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Lauds New Boeing CEO After NASA Picks SpaceX To Return Starliner Crew: &#8216;This Is The Right Thing To Do&#8217;</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Social Media

Tesla's Optimus On Display At Beijing Robot Conference: Chinese Robotics Industry Gains Momentum With New Innovations

International Dog Day, observed across the world on Aug. 26, is a special day to celebrate the presence of canines in our lives and cherish their companionship.
The cryptocurrency space also has a special affinity with these cute critters, thanks to the numerous popular dog-themed memecoins that have emerged in recent years.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40546223/bitcoins-consolidation-a-prelude-to-a-big-breakout-predicts-popular-crypto-trader-heres-wh">Bitcoin&#8217;s Consolidation A Prelude To A Big Breakout, Predicts Popular Crypto Trader: Here&#8217;s What Next For King Crypto</a>
But apart from capturing their hearts, these memecoins have also captured wallets, as some of them have generated massive returns for their investors.&nbsp;
On that note, let's check out which dog-inspired tokens gained the most this year.
Best ‘Purr'-formers of 2024: Memecoins have ascended this year, helped by a substantial rise in the broader cryptocurrency market.
Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based dogwifhat was the biggest year-to-date gainer as of this writing, returning a whopping 1106% to its investors. The coin was one among only six meme coins with a market capitalization exceeding $1 billion.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains YTD +/-</td>
<td>Price (Recorded at 2:30 a.m. EDT)</td>
</tr>
<tr>
<td>dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td>+1106.05%</td>
<td>$1.85</td>
</tr>
<tr>
<td>Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>)</td>
<td>+274%</td>
<td>$0.0001542</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>+44%</td>
<td>$0.0000149</td>
</tr>
<tr>
<td>Bonk(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>+40%</td>
<td>$0.00002078</td>
</tr>
<tr>
<td>Dogecoin(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+21.42%</td>
<td>$0.1089</td>
</tr>
</tbody>
</table>
</figure>
Floki, the coin named after Tesla CEO Elon Musk's Shiba Inu dog, came at a distant second. The Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based token soared 274% since the beginning of 2024.
Blue-chip canine coins also recorded healthy gains this year. The first-ever memecoin Dogecoin was up 21.42%, while Shiba Inu, which followed in its footsteps, spiked 44% year-to-date.&nbsp;
Solana-based Bonk was another billion-dollar memecoin that fared admirably, with a 40% increase.
What's Next: The upcoming Benzinga<a href="https://www.benzinga.com/events/digital-assets/agenda/"> Future of Digital Assets</a> event on Nov. 19 is expected to shed more light on this controversial yet increasingly influential sector of the digital economy.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40545146/telegram-founder-pavel-durovs-arrest-in-france-sparks-reactions-from-ethereum-creator-vita">Telegram Founder Pavel Durov&#8217;s Arrest In France Sparks Reactions From Ethereum Creator Vitalik Buterin And Tron Founder Justin Sun</a></li>
</ul>
Photo by Dennis Diatel on Shutterstock

$BONK

$DOGE

$ETH

$FLOKI

$SHIB

$SOL

$WIF

From Shiba To Dogecoin, Here Are The Best-Performing Canine Memecoins Of 2024 Fetching Great Returns On International Dog Day

As NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) prepares to report its earnings this Wednesday, investors and analysts are eagerly awaiting results that could justify the <a href="https://www.benzinga.com/news/24/08/40366085/nvidias-rebound-rally-adds-billions-to-market-value-analysts-eye-ai-growth-report">company&#8217;s soaring valuation</a>.
What Happened: Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; <a href="https://www.cnbc.com/2024/08/25/jim-cramer-why-you-must-keep-faith-in-nvidia-even-if-earnings-fail-to-wow.html">suggests</a> that the market is looking for &#8220;a $2 billion upside surprise in the reported quarter and a lift of $2 billion for the current quarter&#8221; from the AI chipmaker.
Cramer emphasized the importance of recognizing Nvidia&#8217;s long-term potential and its pivotal role in the artificial intelligence sector. He highlighted that despite recent market volatility, Nvidia&#8217;s foundational strengths remain intact.
Despite recent market volatility that saw Nvidia&#8217;s stock drop significantly, Cramer argues that the company&#8217;s long-term prospects remain strong. 
He compared Nvidia to a biotech company, stating, &#8220;Nvidia is, in some ways more of a biotech which has developed something that each year saves more people&#8217;s lives.&#8221; This analogy underscores the transformative potential of Nvidia&#8217;s AI technologies.
Cramer also highlighted an often-overlooked aspect of Nvidia&#8217;s business: &#8220;The software business of Nvidia is never talked about. Nvidia, like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), is thought about as a hardware company, due for a multiple contraction.&#8221; This perspective suggests that Nvidia&#8217;s value extends beyond its hardware offerings, potentially justifying its high valuation.
As the market braces for Nvidia&#8217;s earnings report, Cramer advises investors to look beyond short-term fluctuations. 
&#8220;If you believe in me then you believe that Jay&#8217;s [Powell] stance is nothing but icing on the cake of Apple and Nvidia and if you think that, then Wednesday will not be the most important day of the year even as so many think it will be,&#8221; Cramer concluded.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40526660/jim-cramer-praises-l3harris-technologies-says-intel-is-getting-whacked-by-amd-i-much-pre?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Praises L3Harris Technologies, Says Intel Is &#8216;Getting Whacked&#8217; By AMD: &#8216;I Much Prefer&#8230;&#8217;</a>
Why It Matters: Nvidia&#8217;s upcoming earnings report is highly anticipated, with analysts <a href="https://www.benzinga.com/top-stories/24/08/40534794/nvidia-is-next-weeks-top-stock-market-strategist-says-why-best-long-term-idea-is-just-buy-nvidia-and">expecting second-quarter revenue</a> of $28.46 billion, a significant increase from $13.51 billion in the same quarter last year. Earnings per share are projected to be 64 cents, up from 27 cents per share in the previous year.
Recently, Nvidia&#8217;s stock has experienced volatility, with shares falling about 10% from their all-time highs. Prominent trader Steve Grasso has cashed out of his Nvidia holdings, citing the need to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40479226/nvidia-down-about-10-from-all-time-highs-prominent-trader-says-he-has-cashed-out-of">reassess based on price action</a>. 
Despite this, some experts remain optimistic. Eric Jackson, founder of EMJ Capital, believes Nvidia&#8217;s stock could surge to $340 in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40501889/nvidia-stock-to-surge-to-340-in-medium-term-portfolio-manager-sees-strong-rally-int">the medium term</a>, driven by substantial investments in AI data centers. 
Dan Ives of Wedbush Securities has also predicted that Nvidia will deliver &#8220;another masterpiece quarter&#8221; due to the high <a href="https://www.benzinga.com/markets/equities/24/08/40520445/nvidia-expected-to-deliver-another-masterpiece-quarter-driven-by-ai-demand-says-dan-ives">demand for AI</a>. He described the upcoming earnings week as potentially the most critical for the market in years. 
Price Action: Nvidia&#8217;s stock closed at $129.37 on Friday, an increase of 4.55% for the day. Year to date, the stock has surged by 168.57%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/news/earnings/24/08/40524309/us-stocks-eye-strong-start-as-traders-discount-dovish-comments-from-jerome-powell-at-jackson-hole-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Jump Ahead Of Powell&#8217;s Jackson Hole Address: What&#8217;s Going On</a></li>
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Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Analyst Color

AAPL

As Nvidia's Earnings Near, Jim Cramer Sees $2B Revenue Boost Potential: '…Jay's Stance Is Nothing But Icing On The Cake' Of AI Chipmaker

Macro Economic Events

Econ #s

Economics

Germany Ifo Business Climate Index For August 86.6 Vs. 86.0 Est.; 87.0 Prior

Germany Current Assessment For August 86.5 Vs. 86.5 Est.; 87.1 Prior

Germany Business Expectations For August 86.8 Vs. 86.5 Est.; 87 (Revised) Prior

In December 2017, Boeing&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) then-CEO Dennis Muilenburg said that the first person who set foot on Mars would get there on a Boeing rocket, beating Elon Musk&#8216;s SpaceX. But nearly seven years later, NASA is <a href="https://www.benzinga.com/markets/equities/24/08/40541938/nasa-chooses-spacex-over-boeing-for-stranded-astronauts-return-starliners-future-in-doubt">turning to SpaceX</a> to return the astronauts who went to the International Space Station (ISS) aboard Boeing&#8217;s Starliner spacecraft.
7 Years Ago: "Eventually we're going to go to Mars and I firmly believe the first person that sets foot on Mars will get there on a Boeing rocket," Muilenburg told CNBC host Jim Cramer in December 2017, as <a href="https://fortune.com/2017/12/07/boeing-dennis-muilenburg-elon-musk-mars/">reported</a> by Fortune.
Musk responded to the comment on X and said, &#8220;Do it.&#8221; Boeing accepted the challenge, responding to the rival CEO with a short, &#8220;Game on!&#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">Game on!
&mdash; The Boeing Company (@Boeing) <a href="https://twitter.com/Boeing/status/938868155564294146?ref_src=twsrc%5Etfw">December 7, 2017</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Fast Forward To 2024: On Saturday, NASA announced that it would return the two astronauts who went to space via Boeing's Starliner spacecraft &#8211; Sunita Williams and Butch Wilmore &#8211; via a SpaceX vehicle in February. The Starliner spacecraft would return to Earth autonomously in early September, the agency said, citing its commitment to safety.
Williams and Wilmore launched into space on June 5 aboard&nbsp;Boeing&#8217;s Starliner spacecraft. Though the two were supposed to return in about eight days, technical issues identified with the spacecraft while docking delayed the return journey, and now the agency has decided to scrap bringing the astronauts back on the Boeing spacecraft altogether. 
Musk Reacts: Musk on Saturday <a href="https://www.benzinga.com/news/24/08/40542418/elon-musk-lauds-new-boeing-ceo-after-nasa-picks-spacex-to-return-starliner-crew-this-is-the-right-th">expressed optimism for the future of Boeing</a> despite the setback.
&#8220;The new Boeing CEO is spending time in the factories. That is the right thing to do,&#8221; Musk said. The new Boeing CEO, Kelly Ortberg, <a href="https://www.benzinga.com/news/24/08/40282460/boeings-new-ceo-kelly-ortberg-shifts-base-to-seattle-amid-airplane-makers-safety-crisis" target="_blank" rel="noreferrer noopener">took the reins of the company</a> from Dave Calhoun earlier this month.
Had SpaceX not been around, NASA might have turned to Russia to bring the astronauts back home, Musk said in another post. The billionaire also opined that aircraft companies will not dominate the space industry.
<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">Russia is the only other option
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827773685094068298?ref_src=twsrc%5Etfw">August 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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 More:
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<li><a href="https://www.benzinga.com/news/24/08/40525705/fords-e-transit-van-could-be-its-golden-goose-until-new-evs-start-rolling-out-in-2026" target="_blank" rel="noreferrer noopener">Ford's E-Transit Van Could Be Its Golden Goose Near Term As Blue Oval Pushes Back New EV Launch To 2026</a></li>
</ul>
Photos courtesy: Shutterstock and NASA<a href="https://x.com/Boeing/status/938868155564294146/analytics"></a><a href="https://x.com/Boeing/status/938868155564294146/analytics"></a>

SPACE

Boeing's Former CEO Dennis Muilenburg Said In 2017 His Company Will Beat Elon Musk To Mars. 7 Years Later, It Has Been Forced To Abandon NASA Astronauts At ISS, Who Will Now Be Rescued By SpaceX

UGRO

Reported Friday, urban-gro Receives Nasdaq Non-Compliance Notice Due To Delayed 10-Q Filing, Listing Status Unaffected

RILY

Reported Friday, B. Riley Financial Receives Nasdaq Delinquency Notice Due To Delayed 10-Q Filing

<ul>
<li>The Notice indicated that the Company is not in compliance with the periodic financial report filing requirement set forth in Nasdaq Listing Rule 5250(c)(1) as a result of the Company&#39;s delay in filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the &quot;Second Quarter&nbsp;10-Q&quot;), by the applicable due date.</li>
<li>The delay in filing the&nbsp;Second Quarter&nbsp;10-Q is a result of the Company&#39;s need to restate certain previously filed financial statements.</li>
</ul>

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