Terran Orbital Corp Warrants (09/03/2028) Stock (OTC: LLAPW)

Latest news for Terran Orbital Corp Warrants (09/03/2028) (OTC:LLAPW) Stock

Terran Orbital Corp Warrants (09/03/2028)

Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Taiwan-based supplier Foxconn (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>) reported its third-quarter results on Thursday. The company, also known as Hon Hai Precision Industry, said its profit margins improved across the board.
According to the company&#8217;s press release, its gross profit margin hit a quarterly record high not seen since 2017. Net profit attributable to owners of the parent company in the third quarter grew by 31% sequentially and 11% annually to NT$43.1 billion or $1.3 billion.
Gross profit margin and operating profit margin also displayed improvement on a sequential and annual basis. With an earnings per share at NT$3.11 or $0.095, the company reported revenue of NT$1.5432 or $47.3 billion indicating a quarterly increase of 18% but a 12% decrease year-on-year.
Also read: <a href="https://www.benzinga.com/tech/24/11/41963064/cathie-woods-ark-invest-says-energy-bottlenecks-cant-stop-ai-growth-companies-could-go-partially-off-grid">Cathie Wood&#8217;s Ark Invest Says Energy Bottlenecks Can&#8217;t Stop AI Growth: Companies Could Go Partially Off-Grid</a>
What Happened: Chairman and Chief Executive Officer, Young Liu said that the six operational pillars outlined at the beginning of this year, ranging from information and communications technology, and new business development to global footprint and ESG practice were implemented according to plan, despite a few challenges.
Liu also highlighted the important influencing factors to observe next year, which include, are monetary policy, inflation and the political and economic situation. &#8220;In addition, with global economic growth expected to slow down next year, the group will hold a relatively neutral view on the outlook for ICT in 2024. Hon Hai will do its best to maintain operational stability, meet customer needs, and leverage the company&#8217;s strengths,&#8221; he added.
Also read: <a href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple's Smart Camera Coming In 2026, Cupertino Eyeing ‘Tens of Millions' In Annual Shipments, Says Top Supply Chain Analyst</a>
Why It Matters: &#8220;Hon Hai is transforming from a manufacturing service company into a platform solution company,&#8221; added Liu. The company&#8217;s proposed focus areas for the future include developing platforms for smart cities, smart manufacturing and smart electric vehicles.
With the ongoing artificial intelligence boom, the company said that it will focus on developing its three major platforms powered by AI factories. The AI factories will analyze a large amount of data and generate various new application content or solutions through self-learning.
On the electric vehicle front, the company in its press release said that it has a total of 51 projects in progress, of which 23 are in the discussion and development stage involving 14 potential customers.
<ul>
<li>Read next: <a href="https://www.benzinga.com/tech/24/11/41932289/ai-capabilities-plateauing-say-andreessen-horowitz-founders-echoing-concerns-of-openai-co-founder-ilya-sutskever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Capabilities Plateauing, Say Andreessen Horowitz Founders, Echoing Concerns Of OpenAI Co-Founder Ilya Sutskever</a></li>
</ul>
Image via Shutterstock

Earnings

Earnings Beats

Earnings Misses

Equities

News

Markets

Press Releases

General

AAPL

HNHPF

Apple's Key Supplier Foxconn's Gross Profit Hit 7 Year High In Q3, Aims To Expand AI Capabilities By Next Year

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; recently reviewed ten stocks that have seen significant growth in 2024, suggesting that they are smart investments, although they are also highly speculative.
What Happened: Cramer, on Wednesday, highlighted ten stocks, each valued at over $1 billion, that have experienced substantial growth this year, <a href="https://www.cnbc.com/2024/11/13/jim-cramer-reviews-ten-stocks-that-are-up-more-than-200percent-this-year.html?ref=biztoc.com">reported</a> CNBC. 
He cautioned that he is not currently recommending these stocks due to their high valuation, but he emphasized the importance of including speculative companies in investment portfolios for long-term performance.
&#8220;Let&#8217;s remember this list of frothy stocks and think of them the next time you&#8217;re about to ignore a stock for being too speculative,&#8221; he said. &#8220;Because these names are often the epitome of speculating wisely, which can be the key for terrific long-term performance — of course, only when melded with index funds.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41931993/dogecoin-tumbles-despite-elon-musk-vivek-ramaswamys-doge-appointment-this-is-what-indicators-tell-about-its-next-moves?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Tumbles Despite Elon Musk, Vivek Ramaswamy&#8217;s &#8216;DOGE&#8217; Appointment: This Is What Indicators Tell About Its Next Moves</a> 
Here are ten stocks up more than 200% year-to-date: 
<ol>
<li>Rocket Lab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>): Cramer sees huge growth potential in its satellite business.</li>
<li>Cava Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>): Cramer believes it could reach Chipotle-like heights, with a familiar and accessible brand.</li>
<li>Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>): Cramer calls it a &#8220;cult stock&#8221; thanks to lucrative Pentagon deals.</li>
<li>Powell Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>): Cramer says it's a key supplier for critical data center infrastructure.</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>): Cramer notes its strong growth is driven by data center energy demand and renewable energy investments.</li>
<li>Carvana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>): Cramer believes its debt reduction has made it more attractive despite past struggles.</li>
<li>AST SpaceMobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>): Cramer sees space technology potential, even though it's currently losing money.</li>
<li>MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>): Cramer praises its Bitcoin holdings as a major growth driver.</li>
<li>AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>): Cramer highlights its AI-driven app marketing success.</li>
<li>NuScale Power (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>): Cramer sees strong investor interest, especially if it secures deals with hyperscalers.</li>
</ol>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41927985/bitcoin-ethereum-consolidate-dogecoin-surges-as-election-rally-takes-a-breather-analyst-says-pullback-typical-for-healthy-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback &#8216;Typical&#8217; For Healthy Market</a></li>
</ul>
Image Via Pexels 
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>

ASTS

CAVA

CVNA

MSTR

PLTR

POWL

RKLB

Jim Cramer Says These 10 'Frothy' Stocks Are Up Over 200% YTD, Including Rocket Lab, Palantir, And Carvana: Here's What He Suggests Investors Can Do For 'Terrific' Long-Term Returns

Mark Zuckerberg&#8217;s Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is reportedly planning to introduce ads on its Threads platform in early 2025 as Elon Musk&#8217;s X is <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">losing favor with major brands</a>.
What Happened: Meta is set to allow a limited number of advertisers to create and publish ads on Threads starting January 2024, <a href="https://www.theinformation.com/articles/meta-to-launch-ads-on-threads-in-early-2025">reported</a> The Information, citing people familiar with the matter.
While the exact format of advertisements on Threads is yet to be revealed, they could potentially appear as &#8220;sponsored&#8221; posts. Meta aims to capitalize on the app's swift expansion, according to the report. Data compiled <a href="https://www.statista.com/statistics/1451377/threads-global-quarterly-mau/">by</a> Statista shows that Threads&#8217; monthly active users stood at 175 million at the end of the June 2024 quarter, up from 150 million in the quarter before.
This move aligns with previous reports about the company&#8217;s plans to monetize the platform. Instagram head Adam Mosseri confirmed earlier that the company is &#8220;definitely&#8221;&nbsp;planning to bring ads to&nbsp;Threads.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Set To Introduce New AI Chips In December To Rival Jensen Huang&#8217;s AI Stalwart: &#8216;We Want To Be Absolutely The Best Place To Run Nvidia&#8217;</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14023240/Screenshot-2024-11-14-at-1.02.35%E2%80%AFPM-1024x268.png" alt="" class="wp-image-647190" /><figcaption class="wp-element-caption">Source: Threads</figcaption></figure>
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: Musk&#8217;s social media platform and Threads&#8217; rival X has been <a href="https://www.benzinga.com/news/24/10/41229905/mark-cuban-says-elon-musk-advertisers-dont-want-to-be-associated-with-explicit-content-on-x-in-the-n">facing a backlash from advertisers</a> due to concerns over explicit content and free speech issues.
In September, a report by analytics group Kantar revealed a significant <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">decrease in marketers&#8217; trust in X</a> as an advertising platform since its acquisition by Musk, with a predicted 26% decline in ad spending on X for 2025.
However, earlier this week, it was <a href="https://www.ft.com/content/34b6fc20-23f7-4e08-9ac4-ef05d5d66c13">reported</a> by the Financial Times that some advertisers are considering a return to X to curry&nbsp;favor with Musk and&nbsp;President-Elect Donald Trump.
Meanwhile, last month <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">Meta reported its third-quarter earnings</a>, which showed a revenue beat and a 5% increase in daily activities. 
During the earnings, the tech giant revealed that it generated&nbsp;$39.8 billion in advertising revenue&nbsp;over the past three months, accounting for 97% of its total revenue.
However, Meta CFO Susan Li stated that the company does not anticipate Threads to be a significant revenue driver in 2025.
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://www.benzinga.com/media/24/11/41873261/apples-ios-18-1-update-adds-inactivity-reboot-to-lock-down-unused-iphones-heres-how-it-protects-your-privacy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s iOS 18.1 Update Adds &#8216;Inactivity Reboot&#8217; To Lock Down Unused iPhones — Here&#8217;s How It Protects Your Privacy</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

Tech

Media

Mark Zuckerberg's Meta Eyes 2025 To Introduce Ads On Threads As Elon Musk's X Loses Favor With Major Brands: Report

Rhythm enrolled 12 patients in its open-label 52-week Phase 3 VENTURE trial designed to evaluate setmelanotide in patients aged 2 to younger than 6 years with BBS or POMC, PCSK1 or LEPR deficiency. Clinically meaningful improvements were observed in both co-primary endpoints at week 52. Results of the trial demonstrated:
<ul>
<li>10 of 12 patients (83%)1 achieved ≥0.2-point reduction in body mass index (BMI) Z-score;</li>
<li>-18% in mean percent change in BMI from baseline;</li>
<li>91% of caregivers reported patients had reduced hunger compared with baseline, and the caregivers also reported feelings of reduced personal burden; and</li>
<li>No new safety signals were observed.</li>
</ul>
Consistent with prior experience, setmelanotide was observed to have been generally well tolerated.&nbsp;No serious adverse events (AEs) leading to study discontinuation or death were reported. The most common treatment-emergent AEs were skin hyperpigmentation (75%), vomiting (58%), nasopharyngitis (42%), upper respiratory tract infection (33%), and injection site bruising (33%).

RYTM

Reported Earlier, Rhythm Pharmaceuticals Publishes Phase 3 Results For Setmelanotide In Patients Between 2 And 5 Years Old

For October 2024, Copa Holdings' capacity (ASMs) increased by 6.6%, while system-wide passenger traffic (RPMs) increased by 6.5%, compared to 2023. As a result, the system load factor for the month was 87.4%, 0.1 percentage points lower than in October 2023.

Reported Earlier, Copa Holdings Reported October 2024 Load Factor Of 87.4%, Down 0.1% YoY; Traffic Up 6.5%

374Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCWO#NASDAQ">SCWO</a>) reported quarterly losses of $(0.02) per share. This is a 100 percent decrease over losses of $(0.01) per share from the same period last year. The company reported $81.490 thousand in sales this quarter. This is a 563.06 percent increase over sales of $12.290 thousand the same period last year.

SCWO

374Water Q3 2024 GAAP EPS $(0.02) Down From $(0.01) YoY, Sales $81.490K Up From $12.290K YoY

Editor&#8217;s Note: The story has been updated to correct the typo in paragraph 6 that Boeing has lost 30% in the past year
Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares are trading <a href="https://www.benzinga.com/movers" target="_blank" rel="noreferrer noopener">lower on Wednesday</a>.
According to Reuters, the company reportedly begins issuing layoff notices to employees affected by a major restructuring plan.
The plan, which aims to reduce Boeing&#8217;s global workforce by 17,000 jobs—approximately 10% of its total—comes as the heavily indebted aerospace giant seeks to cut costs.
On Tuesday, Boeing stated that it projects an average annual increase of 4% in air cargo traffic through 2043.
In particular, it expects the global air cargo fleet to grow by 67% to 3,900 freighters by 2043, from 2,340 freighters in 2023, driven <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">by strong demand in Asia</a>.
According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, BA stock has lost over 30% in the past one year. Investors can gain exposure to the stock via First Trust Exchange-Traded Fund First Trust Indxx Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MISL#NYSE">MISL</a>).
Read More:<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/11/41946311/boeing-forecasts-67-growth-in-global-air-cargo-fleet-by-2043-driven-by-asia-demand" rel="noreferrer noopener"> Boeing Forecasts 67% Growth In Global Air Cargo Fleet By 2043, Driven By Asia Demand</a>
Meanwhile, Boeing also said it successfully delivered the 7th and 8th O3b <a target="_blank" href="https://boeing.mediaroom.com/news-releases-statements?item=131506" rel="noreferrer noopener">mPOWER satellites to SES</a>. These advanced satellites, featuring Boeing&#8217;s cutting-edge software-defined communications technology, are now being shipped to Cape Canaveral for a planned December launch.
&#8220;We&#8217;ve worked closely with SES throughout this program and moved quickly to manufacture these latest satellites,&#8221; said Michelle Parker, Boeing&#8217;s VP of Space Mission Systems. &#8220;We&#8217;re excited to see them enter service and support SES users.&#8221;
The O3b mPOWER satellites use Boeing&#8217;s unique software-driven payload technology, offering flexible, high-efficiency connectivity. With over 5,000 steerable beams, the satellites can provide customized bandwidth and power to specific regions or customers. This enables reliable internet access anywhere—on land, at sea, or in the air—for applications like video streaming, remote work, and critical operations.
Boeing is continuing to produce, integrate, and test the remaining satellites and plans to deliver three more in the first half of 2025.
Price Action: BA shares are trading lower by 2.26% to $142.05 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/41930700/boeing-airbus-and-chinas-comac-compete-as-vietnam-airlines-seeks-bids-for-50-narrowbody-jets-in-2025" target="_blank" rel="noreferrer noopener">Boeing Is Up Against Airbus And China&#8217;s COMAC As Vietnam Airlines Seeks Bids For 50 Planes In 2025</a></li>
</ul>
Photo via Shutterstock

Movers

MISL

Boeing Reportedly Plans Furloughs: What's Going On? (UPDATED)

Aurora Mobile Q3 Sales $11.27M Beat $11.00M Estimate

President-elect Donald Trump is reportedly planning a major overhaul at the Pentagon, with his transition team preparing a list of military officers to be dismissed. This could include members of the Joint Chiefs of Staff, according to sources familiar with the matter.
What Happened: The planning for these dismissals is still in its early stages following Trump&#8217;s election victory on Nov. 5. The sources, who are familiar with the transition process, have requested anonymity to discuss the plans candidly. It remains uncertain if Trump will endorse this plan, although he has previously criticized defense leaders who opposed him, Reuters reported on Thursday.
One source mentioned that the incoming administration might target U.S. military officers linked to Mark Milley, Trump&#8217;s former chairman of the Joint Chiefs of Staff. Milley was recently quoted in Bob Woodward&#8217;s book &#8220;War,&#8221; describing Trump as &#8220;fascist to the core,&#8221; leading to backlash from Trump&#8217;s allies.
See Also: <a href="https://www.benzinga.com/news/24/11/41897895/trump-taps-lee-zeldin-to-lead-epa-the-ex-congressman-who-previously-voted-against-bidens-act-aimed-at-combating-climate-change?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Taps Lee Zeldin To Lead EPA, The Ex-Congressman Who Previously Voted Against Biden&#8217;s Act Aimed At Congressman Who Previously Voted Against Biden&#8217;s Act Aimed At Combating Climate Change</a>
The disclosure of these plans follows Trump&#8217;s selection of Pete Hegseth as <a href="https://www.benzinga.com/news/24/11/41952962/trumps-surprise-defense-secretary-pick-pete-hegseth-jolts-wall-street">his defense secretary</a>. Hegseth, a Fox News commentator, has expressed a desire to overhaul Pentagon leadership. However, some officials have downplayed the likelihood of such a significant shakeup, citing potential disruptions during global conflicts.
Why It Matters: This potential shakeup at the Pentagon comes amid Trump&#8217;s recent <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">announcement of appointing</a> Elon Musk and Vivek Ramaswamy to lead the newly formed Department of Government Efficiency (DOGE). This department aims to slash bureaucracy and reduce federal spending. The move is part of a broader effort to restructure federal agencies and cut wasteful expenditures.
Meanwhile, Pentagon officials are reportedly strategizing responses to <a href="https://www.benzinga.com/news/24/11/41866424/pentagon-officials-weigh-responses-to-possible-illegal-orders-under-trump">potential controversial orders</a> from Trump, including the deployment of active-duty troops domestically. This reflects ongoing concerns about the implications of Trump&#8217;s leadership style on military operations and civilian-military relations.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/41890244/elizabeth-warren-says-trump-and-his-transition-team-are-already-crossing-legal-boundaries-i-would-know-because-i-wrote-the-law?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren Says Trump And His Transition Team Are Already Crossing Legal Boundaries: &#8216;I Would Know&nbsp;Because I Wrote The Law&#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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Government

Politics

Amid Appointment Of Elon Musk, Vivek Ramswamy, Team Trump Now Reportedly Planning To Overhaul Military Posts

GILD

Reported Earlier, Gilead Sciences Prices $3.5B In Senior Notes, Including $1B Each For 2035 And 2054 Maturities

Spectrum Brands Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) announced that its Board of Directors today approved a 12% increase in its dividend payout, and declared a quarterly dividend of $0.47 per share on the Common Stock of the Company. This new quarterly dividend rate represents an annualized dividend yield of 2% based on today's closing stock price. The dividend is payable on December 17, 2024 to shareholders of record as of November 26, 2024.

Dividends

Reported Earlier, Spectrum Brands Announces 12% Quarterly Dividend Increase To $0.47/Shae, Payable December 17, 2024

A special meeting of the Thunder Bridge IV stockholders (the "Special Meeting") to approve, among other things, the proposed business combination, will be held on December 5, 2024, at 10:00 a.m. Eastern Time at 101 Constitution Ave., NW, Suite 900, Washington, DC 20001, USA. Thunder Bridge IV also announced today that it&nbsp;will file&nbsp;with the SEC a definitive proxy statement/prospectus relating to the Special Meeting, which it expects to commence mailing on or about November 12, 2024 to its stockholders of record as of the close of business on October 25, 2024.

THCP

Reported Earlier, Thunder Bridge IV Secures SEC Approval, Schedules Special Meeting For Coincheck Business Combination Vote

Tech mogul and co-head of Department of Government Efficiency (DOGE), Elon Musk, defended the newly formed body&#8217;s efficiency amid criticism from Sen.&nbsp;Elizabeth Warren&nbsp;(D-Mass.)
What Happened: Taking a dig at the <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">appointment</a> of Musk and Vivek Ramaswamy to lead the highly-touted department, the three-time senator wrote in an X post, &#8220;The Office of Government Efficiency is off to a great start with split leadership: two people to do the work of one person. Yeah, this seems REALLY efficient.&#8221;
Musk clapped back by saying, &#8220;Unlike you, neither of us are being paid, so it is very efficient indeed,&#8221; perhaps revealing for the first time that he won&#8217;t be drawing any salary for the work. 
He expressed his confidence in DOGE&#8217;s potential to benefit the American people. &#8220;Let history be the judge.&#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">Unlike you, neither of us are being paid, so it is very efficient indeed.<a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@DOGE</a> will do great things for the American people. Let history be the judge.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1856925863725412706?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice">Ted Cruz Says Running DOGE Won&#8217;t Be A Cake Walk, Offers Reading Advice To Elon Musk</a>
Why It Matters: The initiative, aimed at restructuring federal agencies and reducing government spending, became a huge talking point leading up to the elections, and with the official appointments, curiosity around its operations has grown even more.
Amid the hype, Senator&nbsp;Ted Cruz&nbsp;(R-Texas), who is considered close to Musk, said that running the department <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice">would be challenging</a> for someone from a private corporation due to the stark differences in incentives between the government and private companies.
Warren <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41764839/elizabeth-warren-wins-third-senate-term-overcomes-challenge-from-crypto-backed-gop-candida">won</a> her third Senate term in Massachusetts, beating pro-cryptocurrency opponent John Deaton. Musk, a supporter of 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>), was <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41424071/coinbase-ceo-brian-armstrong-endorses-elizabeth-warrens-pro-crypto-rival-john-deaton-in-se">supportive of Deaton&#8217;s candidacy</a>.
Warren has been&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39070738/remember-elizabeth-warrens-anti-crypto-campaign-donald-trump-promises-to-keep-elizabeth-wa" target="_blank" rel="noreferrer noopener">detested by the cryptocurrency community</a>&nbsp;because of her overtly critical stance on the industry. She has argued for more regulations on the sector, arguing that it facilitates illegal activities that are largely untraceable.
In her defense, Warren said that she was okay with people buying and trading cryptocurrencies as long as they were subjected to the same laws as the traditional market.
Image via Shutterstock
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In a blog post on Wednesday, Cathie Wood-led ARK Invest has projected that the growth and profitability of AI data centers will remain strong, despite increasing power demand and costs.
What Happened: The blog written by Sam Korus, director of Research Autonomous Technology &amp; Robotics at ARK Invest, indicates that AI companies could partially operate off-grid through independent power generation.
For example, Tesla and SpaceX CEO Elon Musk has used generators to power xAI&#8217;s data center in Memphis, Tennessee, bypassing full grid interconnection.
ARK estimates that the additional demand from AI data centers will drive the growth in global electricity demand to 3.2% at a compound annual rate through 2030.
This is despite the average growth in electricity production globally being around 2.7% annually for the past five years.
See Also: <a href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Smart Camera Coming In 2026, Cupertino Eyeing &#8216;Tens of Millions&#8217; In Annual Shipments, Says Top Supply Chain Analyst</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="742" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14015236/Sam-Electricity-Reg-Blog-1-01-1-1024x742.png" alt="" class="wp-image-647104" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14015236/Sam-Electricity-Reg-Blog-1-01-1-1024x742.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14015236/Sam-Electricity-Reg-Blog-1-01-1-300x217.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14015236/Sam-Electricity-Reg-Blog-1-01-1-768x557.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14015236/Sam-Electricity-Reg-Blog-1-01-1.png 1380w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: ARK Invest</figcaption></figure>
ARK&#8217;s research also suggested that the time required to build new generation and distribution capacity will not be a limiting factor.
Electricity accounts for approximately 9% of total AI data center costs, leaving ample room for companies to invest in expedited, non-grid power solutions without disrupting data center economics.
The research suggested that the incremental capital required to meet the incremental electricity demand would be around $235 billion in 2030, roughly 6% of what ARK expects to be spent on AI hardware that year.
<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">AI data center growth and profitability should remain strong despite rising power demand and costs. Independent power generation could allow AI companies to operate partially off-grid, expediting development. <a href="https://twitter.com/skorusARK?ref_src=twsrc%5Etfw">@skorusARK</a> details more in a new research blog.<a href="https://t.co/TgJfUO9Rlj">https://t.co/TgJfUO9Rlj</a>
&mdash; ARK Invest (@ARKInvest) <a href="https://twitter.com/ARKInvest/status/1856712602975338871?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The power demand for AI has been a topic of concern, with President-elect Donald Trump previously <a href="https://www.benzinga.com/news/24/08/40329545/trump-left-shocked-by-power-hungry-ai-tells-elon-musk-requires-twice-the-energy-that-the-country-alr">expressing shock at AI&#8217;s substantial electricity</a> demands in a conversation with Musk.
Earlier, the CEO of Oklo Inc., Jacob DeWitte, also highlighted the <a href="https://www.benzinga.com/news/24/10/41343639/oklo-ceo-highlights-mind-blowing-demand-for-ai-power-says-googles-nuclear-deal-only-tip-of-the-icebe">&#8220;mind-blowing&#8221; demand for AI power</a>, noting that Alphabet Inc.—Google's parent company—partnering with Kairos Power is just the beginning for nuclear power startups eager to collaborate with major tech firms.
In April 2024, it was reported that if energy efficiency does not improve, <a href="https://www.benzinga.com/markets/asia/24/04/38163078/ai-could-consume-25-of-us-power-by-2030-the-more-information-they-gather-the-more-power-it-takes-war">AI data centers could account</a> for up to a quarter of U.S. power demand by the decade's end.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Cathie Wood's Ark Invest Says Energy Bottlenecks Can't Stop AI Growth: Companies Could Go Partially Off-Grid

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