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Just Eat Takeaway.com (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JTKWY#OTC">JTKWY</a>) has announced the sale of its U.S. food delivery business, Grubhub, to Wonder Group for an enterprise value of $650 million.
What Happened: This deal follows ongoing efforts to divest Grubhub after pressure from investors. The transaction is expected to generate net proceeds of up to $50 million for Just Eat Takeaway after adjustments. 
The completion is set for the first quarter of 2025, pending regulatory approval. The sale is aimed at improving Just Eat's financial position, supporting investment in key markets, and boosting cash flow. 
Wonder, which acquired meal kit company Blue Apron in 2023, plans to integrate Grubhub into its food service platform. Shares of Just Eat rose 20% following the announcement. 
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/41960833/cathie-wood-cashes-out-on-rocket-labs-28-surge-in-9m-share-sale-but-expands-bet-on-flying-cars">Cathie Wood Cashes Out On Rocket Lab&#8217;s 28% Surge in $9M Share Sale But Expands Bet On Flying Cars</a></li>
</ul>
Image Via Pixabay 
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>

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Global

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JTKWY

Just Eat Takeaway Sells Grubhub To Wonder For $650M, Marking Strategic Exit From US Market

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang on Wednesday said that he passed on an opportunity to acquire full ownership of the chipmaker, now valued at $3.6 trillion when SoftBank Group&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) Masayoshi Son offered financial backing years ago.
What Happened: During a candid exchange at Nvidia&#8217;s AI summit in Tokyo, Huang revealed that Son approached him about a decade ago with an offer to help finance a complete buyout of Nvidia, believing the stock market undervalued the company at the time.
&#8220;Now I regret not taking you up,&#8221; Huang told Son during their public conversation. &#8220;That was a great idea.&#8221;
The conversation took a lighter turn when Son playfully pretended to cry on Huang&#8217;s shoulder after discussing <a href="https://www.benzinga.com/markets/equities/24/06/39429393/regret-missing-out-on-nvidia-rally-youre-not-alone-as-softbanks-masayoshi-son-laments-157b-lost-">SoftBank&#8217;s early exit from Nvidia investments</a>. &#8220;We can cry together,&#8221; Huang joked. &#8220;Could you imagine if today, you were the largest shareholder?&#8221;
See Also: <a href="https://www.benzinga.com/24/11/41960833/cathie-wood-cashes-out-on-rocket-labs-28-surge-in-9m-share-sale-but-expands-bet-on-flying-cars">Cathie Wood Cashes Out On Rocket Lab&#8217;s 28% Surge in $9M Share Sale But Expands Bet On Flying Cars</a>
Why It Matters: Nvidia&#8217;s remarkable ascent has been fueled by the artificial intelligence boom, with the company&#8217;s chips playing a crucial role in powering AI technologies. The company&#8217;s stock has surged nearly 200% this year alone, propelling Huang&#8217;s net worth to $128 billion and making him the 11th richest person globally, according to the Bloomberg Billionaires Index.
The discussion preceded the announcement of a new <a href="https://www.benzinga.com/news/global/24/11/41929194/nvidia-and-softbank-to-build-japans-top-ai-supercomputer-on-blackwell-platform-jensen-huang-says-tokyo-is-leaping-into-the-ai-industrial-revolution">partnership between Nvidia and SoftBank</a> to develop Japan&#8217;s most powerful AI supercomputer, marking a significant development in Japan&#8217;s AI infrastructure expansion.
Son, who ranks 133rd on Bloomberg&#8217;s wealth index with a $15.9 billion fortune, has seen his wealth increase by more than $5 billion this year, though that pales in comparison to what might have been had SoftBank retained its earlier Nvidia investments.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/41961054/softbank-returns-to-profit-driven-by-indian-ipos-whats-next-for-masayoshi-son">SoftBank Is In Profit Once Again Thanks To Indian IPOs: What&#8217;s Next For Masayoshi Son?</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.

NVDA

SFTBF

SFTBY

Nvidia's CEO Reveals The Massive Deal He Missed And Why It Is Today A $3.6 Trillion Regret

The Department of Government Efficiency aka DOGE, not Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which is going to be formed with Elon Musk and Vivek Ramaswamy at the helm, could be a &#8220;quid-pro-quo riddled with conflicts of interest,&#8221; said the Bill Clinton-era secretary of labor, Robert Reich.
What happened: Reich took to his Instagram and X to question the intentions behind forming this task force. &#8220;It should be clear that this new Department of Government Efficiency for Musk isn&#8217;t actually about efficiency. It&#8217;s simply a quid-pro-quo riddled with conflicts of interest,&#8221; he opined.
Taking a jibe at the President-elect Donald Trump he further said, &#8220;Anything and everything will always be for sale under Trump. Musk is just the latest person to take advantage of this.&#8221;
As per 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">notice</a> shared by Trump, the initiative is expected to focus on dismantling bureaucracy, reducing regulations, and cutting wasteful expenditures. The department is scheduled to complete its work by July 4, 2026, coinciding with America&#8217;s 250th independence anniversary.
<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">So the richest man in the world spent $130 million to elect Donald Trump. Now he&#39;s being put in charge of a &quot;government efficiency&quot; agency while controlling corporations with billions in government contracts that are also under federal investigations. See how this works?
&mdash; Robert Reich (@RBReich) <a href="https://twitter.com/RBReich/status/1856746613190095237?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Also read: <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">Trump Appoints Elon Musk And Vivek Ramaswamy To Lead &#8216;DOGE,&#8217; Aiming to Slash Bureaucracy And $6.5 Trillion Federal Spending: &#8216;We Will Not Go Gently&#8217;</a>
According to <a href="https://www.nytimes.com/2024/10/20/us/politics/elon-musk-federal-agencies-contracts.html">The New York Times</a>, Musk's businesses, including SpaceX and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), were scheduled to receive approximately $3 billion in federal contracts from 17 agencies in 2023. Furthermore, his companies have been the subject of at least 20 federal investigations or reviews. These factors have led to concerns about potential conflicts of interest arising from a Musk-led federal commission.
Sharing an NY Times graphic, Reich asked, &#8220;What do you think he&#8217;ll cut first in the name of efficiency — the billions of dollars in government contracts his corporations control or your Social Security and Medicare benefits?&#8221;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="590" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14002014/robert-reich-1024x590.png" alt="" class="wp-image-646940" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14002014/robert-reich-1024x590.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14002014/robert-reich-300x173.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14002014/robert-reich-768x442.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14002014/robert-reich.png 1393w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Also read: <a href="https://www.benzinga.com/government/regulations/24/11/41931503/trump-forms-doge-with-elon-musk-and-vivek-ramaswamy-at-the-helm-will-it-impact-tesla-ceos-role-at-the-ev-giant-and-spacex">Trump Forms DOGE With Elon Musk And Vivek Ramaswamy At The Helm: Will It Impact Tesla CEO&#8217;s Role At The EV Giant And SpaceX?</a>
Why It Matters: As the department promises to restructure federal agencies and reduce government spending, it is still unclear if the committee would come under the Federal Advisory Committee Act, which dictates how external groups that advise the government must operate and be accountable to the public.
"Since this is not an official Cabinet or US government position and it&#8217;s essentially newly created, there will be NO changes to Musk's CEO roles with Tesla and SpaceX importantly from the Street's perspective," said Wedbush's Dan Ives.
Such external advisory committees have played an important role in shaping federal programs and policies in the past; former presidents Ronald Reagan and Bill Clinton established similar task forces. However, it is still ambiguous how President-elect Trump, along with unconventional businessman Elon Musk and former presidential candidate Vivek Ramaswamy, will structure and lead this committee.
Image via Flickr/ Wikimedia Commons
Read next:&nbsp;<a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction" target="_blank" rel="noreferrer noopener">Trump&#8217;s Potential ‘Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: ‘Shoot First Reaction&#8217;</a>

Government

Politics

$DOGE

TSLA

Trump's DOGE With Musk At The Helm 'Riddled With Conflicts Of Interest' Says, Clinton-Era Official Robert Reich

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Unemployment Rate For October Unchanged At 4.1%

Reported Earlier, Australia Full Employment Change For October 9.7K Vs. 48.8K (Revised) Prior

Reported Earlier, Australia Employment Change For October 15.9K Vs. 25.2K Est.; 61.3K (Revised) Prior

Meme coins have been on the charge this year, as a marked improvement in overall market sentiment has propelled tokens to skyrocketing returns in 2024.
What happened: Cat-themed cryptocurrency, Popcat has been the star performer, exploding as much as 23,895% year-to-date.&nbsp;
The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based coin had a market capitalization of nearly $1.9 billion as of this writing, ranking eighth among meme tokens.
In the last 24 hours, POPCAT blasted to a record high of $1.99, with a 66.66% jump in trading volumes.
Some of the other big gainers have been dogwifhat, which was up over 2500% year-to-date, and frog-themed Pepe, which returned 1246% to its holders since the year began.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>YTD Gains +/-</td>
<td>Price (Recorded at 11:00 p.m. EDT)</td>
</tr>
<tr>
<td>Popcat (POPCAT)</td>
<td>+23895.24%</td>
<td>$1.93</td>
</tr>
<tr>
<td>dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td>+2574.99%</td>
<td>$4.09</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>+1246.17%</td>
<td>$0.0000233</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+333.75%</td>
<td>$0.3881</td>
</tr>
</tbody>
</table>
</figure>
Both PEPE and WIF rallied sharply in the last 24 hours after premium cryptocurrency exchange Coinbase <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41945111/pepe-listed-on-robinhood-coinbase-reaches-new-all-time-high-on-44-gain-traders-speculate-about-dogecoin-like-run">announced listing</a> the two tokens for trading. While Pepe jumped 80%, WIF popped 41% in the said time period. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
In comparison, Dogecoin, the largest meme coin by market value, experienced a modest 333% increase this year.
However, the "original meme coin" stands to benefit from the establishment of D.O.G.E., an acronym for <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">Department of Government Efficiency</a>, headed by Elon Musk in the incoming Donald Trump administration.&nbsp;
Overall, the meme coin sector expanded by monumental proportions in 2024, adding nearly $95 billion to the cumulative market capitalization.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/41928272/cathie-woods-ark-invest-foresees-crypto-industry-boost-under-incoming-trump-administration">Cathie Wood-Led Ark Sees Boost For Bitcoin, Crypto Under Trump Administration, Says IPO Window For Circle, Kraken Could Reopen</a></li>
</ul>

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

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$PEPE

$SOL

$WIF

Dogecoin Shot Up Over 300% In 2024 But Cat-Themed Popcat is The Real Top Dog With 23800% Returns This Year

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO co-founder, Mark Zuckerberg, has joined forces with renowned rapper T-Pain to release a cover of Lil Jon&#8217;s &#8220;Get Low.&#8221; 
What Happened: On Wednesday, Zuckerberg and T-Pain shared the reimagined high-energy track into a slower tempo song on Instagram, which featured an acoustic guitar.
Zuckerberg&#8217;s autotuned voice is prominent, singing the lyrics, with T-Pain making an appearance halfway through the song.
On Instagram, Zuckerberg said, &#8220;&#8216;Get Low&#8217; was playing when I first met Priscilla at a college party, so every year we listen to it on our dating anniversary.&#8221;
See Also: <a href="https://www.benzinga.com/tech/24/11/41872968/amazon-offers-early-black-friday-deals-with-up-to-350-off-on-apple-macbooks-heres-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Offers Early Black Friday Deals With Up To $350 Off On Apple MacBooks: Here&#8217;s More</a>
At the time of writing, the song wasn&#8217;t playing on Instagram&#8217;s web app, even though Zuckerberg tried to include it in his post. Users can listen to the track on Instagram&#8217;s smartphone app. The track is also available on Spotify.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13233549/Screenshot-2024-11-14-at-10.05.37%E2%80%AFAM-1024x610.png" alt="" class="wp-image-646837" /><figcaption class="wp-element-caption">Source: Instagram</figcaption></figure>
Why It Matters: Zuckerberg's public image has shifted dramatically from the stereotypical "tech bro" in gray t-shirts to a more polished, <a href="https://www.benzinga.com/news/24/05/38865744/carthago-delenda-est-was-mark-zuckerbergs-cryptic-birthday-tee-a-meta-message-or-a-party-joke">fashion-forward CEO</a>, signaling a strategic rebranding.
While the makeover has <a href="https://www.benzinga.com/news/23/09/34949713/from-evil-mark-to-great-philanthropist-meta-ceo-zuckerberg-opts-for-a-bill-gates-style-metamorphosis">helped improve his public image</a>, making him seem more approachable <a href="https://www.benzinga.com/news/23/06/32807615/how-mark-zuckerberg-harnesses-jiu-jitsu-to-run-meta-better-your-ability-to-keep-doing-interesting-th">and authentic</a>, critics argue it distracts from ongoing concerns about Meta's societal impact.
Last month, Meta, formerly known as Facebook, reported <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">third-quarter revenue</a> of $40.59 billion, surpassing analyst estimates of $40.29 billion.
The company also reported third-quarter adjusted earnings of $6.03 per share, beating analyst estimates of $5.25 per share.
Read Next:
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<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>
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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.

Entertainment

Mark Zuckerberg Teams Up With T-Pain For A Jaw-Dropping 'Get Low' Cover — Prepare For The Z-Pain Experience You Didn't Know You Needed

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bullish turn since early September has reflected well on MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), with the proxy firm increasing its valuation by $50 billion in the last two months.
What happened: Widely considered a TradFi alternative to holding Bitcoin, shares of MicroStrategy <a href="https://www.benzinga.com/markets/equities/24/11/41892752/microstrategy-shares-hit-24-year-high-jumps-most-since-dot-com-bubble-as-bitcoin-trades-at-record-levels">hit a record closing high</a>, past $350, earlier this week. The surge marked the highest level for the shares since the dot-com bubble in March 2000.
The rally propelled the firm's market valuation to $72.26 billion, reflecting an increase of $50 billion since Sept. 6, or 225%. Just for context, the gain was higher than the total capitalization of Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Cognizant Technology Solutions Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>).
Year-to-date, MicroStrategy has leaped 374%, outperforming some of the hottest stocks on Wall Street, including the "Magnificent Seven."
The upswing coincided with the record-breaking play of Bitcoin, which was swiftly approaching the $100,000 milestone. Since Sept. 6, Bitcoin has surged more than 60% in value.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Why It Matters: The Bitcoin portfolio of MicroStrategy—a company that has pioneered the leading cryptocurrency's corporate adoption—has ballooned past a whopping $25 billion, <a href="https://bitcointreasuries.net/">according </a>to data from bitcointreasuries.net.&nbsp;
At an average acquisition price of $11.92 billion, the firm racked up over $13 billion in unrealized profit on its Bitcoin purchases.&nbsp;
In its third-quarter results report, the company <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41646462/michael-saylor-says-bitcoin-remedy-to-fix-unhealthy-balance-sheets-as-microstrategy-unveil">announced plans</a> to raise as much as $42 billion in equity and debt funding over the next three years to accumulate more Bitcoin.
Price Action: At the time of writing, Bitcoin was exchanging hands at $89,917.11, up 3.06% 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>. Shares of MicroStrategy were up 2.87% in after-hours trading, after pulling back 7.91% during Wednesday's regular trading session.
Image via Shutterstock
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/11/41928272/cathie-woods-ark-invest-foresees-crypto-industry-boost-under-incoming-trump-administration">Cathie Wood-Led Ark Sees Boost For Bitcoin, Crypto Under Trump Administration, Says IPO Window For Circle, Kraken Could Reopen</a></li>
</ul>

$BTC

CTSH

MSTR

Bitcoin Proxy MicroStrategy Added More To Its Market Cap In Last 2 Months Than What Ford Is Worth Currently

Rocket Lab USA Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) stock <a href="https://www.benzinga.com/news/contracts/24/11/41941068/rocket-lab-stock-is-blasting-off-wednesday-whats-going-on">surged nearly 30% in trading on Wednesday</a> following strong third-quarter results, with CEO Peter Beck highlighting the company&#8217;s expanding presence across multiple space sectors during an interview.
What Happened: The space company reported third-quarter revenue of $104.81 million, exceeding analyst expectations and marking a 55% year-over-year increase. Beck emphasized the company&#8217;s growing $1.05 billion backlog for their small Electron rocket and confirmed the larger Neutron rocket remains on schedule for its debut launch next year.
&#8220;Launch is super important; it&#8217;s literally the key to space,&#8221; Beck <a href="https://www.youtube.com/watch?v=Hf3WnoKvrGU">told</a> CNBC&#8217;s Morgan Brennan. &#8220;But the Space Systems group is what enables us to build infrastructure in orbit.&#8221; He noted the division currently has over 40 spacecraft in backlog, ranging from Mars missions to telecommunications and national security projects.
Addressing potential political implications, Beck expressed optimism about space policy under President-elect Donald Trump&#8216;s administration, citing its focus on space, national defense, and efficient contracting. &#8220;When space does well, Rocket Lab does well,&#8221; he stated.
See Also: <a href="https://www.benzinga.com/24/11/41961054/softbank-returns-to-profit-driven-by-indian-ipos-whats-next-for-masayoshi-son">SoftBank Is In Profit Once Again Thanks To Indian IPOs: What&#8217;s Next For Masayoshi Son?</a>
Why It Matters: The company&#8217;s recent performance has been remarkable, with shares up more than 350% over six months. Beck attributed this partly to investors&#8217; growing understanding of Rocket Lab&#8217;s position as the second-largest space company behind Elon Musk-led SpaceX, which is valued at over $200 billion compared to Rocket Lab&#8217;s sub-5% relative valuation.
Looking ahead, Rocket Lab <a href="https://www.benzinga.com/general/space/24/11/41922070/rocket-lab-q3-earnings-revenue-beat-eps-beat-continued-strong-demand-growth-multi-launch-agreement-air-force-award-and-more">projects fourth-quarter revenue</a> between $125 million and $135 million, anticipating continued growth through year-end. The company has also secured new contracts, including a multi-launch agreement with a commercial satellite constellation operator and an $8 million award from the U.S. Air Force Research Laboratory.
Price Action: Rocket Lab stock closed at $18.83 on Wednesday, up 28.44% for the day. In after-hours trading, the stock dipped 0.58. Year-to-date, Rocket Lab has surged 254.61%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/41960833/cathie-wood-cashes-out-on-rocket-labs-28-surge-in-9m-share-sale-but-expands-bet-on-flying-cars">Cathie Wood Cashes Out On Rocket Lab&#8217;s 28% Surge in $9M Share Sale But Expands Bet On Flying Cars</a></li>
</ul>
Image Via Shutterstock 
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.

SPACE

RKLB

Rocket Lab CEO Touts SpaceX Rival Status, Trump Impact On Space As Stock Surges Almost 30%

Advanced Micro Devices&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) has reportedly decided to lay off approximately 1,000 employees, representing 4% of its global workforce.
What Happened: AMD is realigning its resources to compete with Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in the data center chip market, reported Reuters.
&#8220;As a part of aligning&nbsp;our resources with our largest&nbsp;growth opportunities, we are taking&nbsp;a number of targeted steps,&#8221;&nbsp;an AMD spokesperson told the publication.
The company has been aggressively investing in the development of AI chips, which command high&nbsp;prices and are in demand among hyperscalers like Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
See Also:&nbsp;<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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Appoints Elon Musk And Vivek Ramaswamy To Lead &#8216;DOGE,&#8217; Aiming to Slash Bureaucracy And $6.5 Trillion Federal Spending: &#8216;We Will Not Go Gently&#8217;</a>
The company&#8217;s data center segment, which includes its AI graphics processors, witnessed a more than two-fold increase in revenue in the September quarter.
Analysts forecast that the data center unit will&nbsp;grow 98% in 2024, outpacing&nbsp;the&nbsp;expected total revenue growth of&nbsp;13%. 
AMD plans to start mass production of its MI325X AI chip in fourth-quarter of 2024, although ramping up production is costly due to limited manufacturing capacity
Why It Matters: Last month, AMD reported <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-">third-quarter revenue of $6.8 billion</a>, surpassing analyst expectations of $6.71 billion. The chipmaker also reported earnings of 92 cents per share, matching analysts&#8217; forecasts, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Prior to the earnings, analysts highlighted concerns about <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41339315/nvidia-and-intel-competition-threaten-amds-growth-analyst-says">AMD&#8217;s ability to maintain</a> a profitable business model in the face of stiff competition from Nvidia and Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
Earlier this month, AMD&#8217;s stock saw a <a href="https://www.benzinga.com/news/24/11/41848544/whats-going-on-with-amd-stock-this-week">5% increase in the week following</a> the 2024 U.S. presidential election.
Price Action: AMD shares closed Wednesday&#8217;s session down by 3.01%, finishing at $139.30. However, in after-hours trading, the stock saw a slight uptick, rising to $139.41 as of the latest update.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/24/11/41890968/bitcoin-kisses-89500-ethereum-dogecoin-extend-trump-victory-rally-how-long-before-btc-hits-100000-analysts-reveal?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hovers Around $90K, Ethereum, Dogecoin Extend Trump Victory Rally: How Long Before BTC Hits $100,000? Analysts Reveal</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

Media

INTC

MSFT

AMD Plans To Cut 4% Of Workforce Amid Strategic Shift Toward AI Chip Development To Rival Jensen Huang-Led Nvidia's Dominance: Report

Senator Ted Cruz (R-Texas) anticipated the newly established Department of Government Efficiency (DOGE) department to yield &#8220;good results&#8221; but warned that Elon Musk and Vivek Ramaswamy would have their work cut out.
What happened: During a podcast with Ben Ferguson, Cruz said he was upbeat about Musk&#8217;s <a href="https://www.benzinga.com/government/regulations/24/11/41931503/trump-forms-doge-with-elon-musk-and-vivek-ramaswamy-at-the-helm-will-it-impact-tesla-ceos-role-at-the-ev-giant-and-spacex">new role </a>in the administration but emphasized the fundamental differences between working for a private company and a government department.
Cruz said he had a phone conversation with Musk and urged the tech tycoon to read the book &#8220;Bureaucracy&#8221; by Austrian economist Ludwig von Mises, who argued why private players may find it difficult to administer a government agency.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am excited to see Elon Musk use DOGE to make our government more efficient.<a href="https://twitter.com/benfergusonshow?ref_src=twsrc%5Etfw">@benfergusonshow</a> and I break down the Department of Government Efficiency on Verdict &#x1f447;<a href="https://t.co/Et7wlOPL3D">https://t.co/Et7wlOPL3D</a> <a href="https://t.co/hknpqqjQ0X">pic.twitter.com/hknpqqjQ0X</a>
&mdash; Ted Cruz (@tedcruz) <a href="https://twitter.com/tedcruz/status/1856834428770848833?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
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The senator emphasized that the incentives in the government department were opposite to the profit motive seen in private companies.
Cruz added he asked Musk to take note of the fact that unlike private institutions, one cannot fire government employees because of civil service protections in place.
"I pointed out to Elon. Look, when you went into Twitter, you fired 60% of the employees. That's the flexibility you have."
On the DOGE connection, Cruz said that the nomenclature was not accidental as everyone knows that Musk is a vocal supporter of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Why It Matters: Cruz and Musk have a friendly relationship, and the senator <a href="https://www.benzinga.com/news/23/08/33691352/ted-cruz-visits-elon-musks-spacex-says-maintaining-american-leadership-in-space-is-critical">previously lauded</a> the SpaceX CEO for maintaining the U.S.&#8217;s leadership in space technology.
A known cryptocurrency advocate, Cruz has invested in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and believes in the upside potential of the leading digital asset.
Price Action: At the time of writing, DOGE was exchanging hands at $0.3853, up 0.92% 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>. 
Photo by Consolidated News Photos on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/41928272/cathie-woods-ark-invest-foresees-crypto-industry-boost-under-incoming-trump-administration">Cathie Wood-Led Ark Sees Boost For Bitcoin, Crypto Under Trump Administration, Says IPO Window For Circle, Kraken Could Reopen</a></li>
</ul>

Ted Cruz Says Running DOGE Won't Be A Cake Walk, Offers Reading Advice To Elon Musk

SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) has made a significant financial turnaround, reporting a profit of $7.8 billion in its latest quarter, largely attributed to successful Indian <a href="https://www.benzinga.com/news/global/24/11/41929194/nvidia-and-softbank-to-build-japans-top-ai-supercomputer-on-blackwell-platform-jensen-huang-says-tokyo-is-leaping-into-the-ai-industrial-revolution">IPOs and improved tech valuations</a>.
What Happened: The Japanese conglomerate&#8217;s profit in the quarter ending September starkly contrasts the $6.05 billion loss in the same period last year, <a href="https://www.ft.com/content/a86569e7-8743-4474-a6a8-13a3f30085e3">reported</a> the Financial Times.
The Vision Fund, known for its high-risk, tech-heavy investments, contributed to this turnaround with a $3.95 billion profit. This is the first time in nine quarters that the Vision Fund&#8217;s cumulative investment gains have turned positive.
Notable IPOs in India, including those of Ola Electric and FirstCry, have significantly boosted SoftBank&#8217;s valuations. The company&#8217;s CFO, Yoshimitsu Goto, highlighted the positive impact of these IPOs, which lifted valuations by $1.7 billion.
Other factors contributing to SoftBank&#8217;s improved financial position include valuation gains at Coupang in South Korea and DiDi in China, as well as a favorable impact on net income from the weak yen.
See Also: <a href="https://www.benzinga.com/24/11/41890968/bitcoin-kisses-89500-ethereum-dogecoin-extend-trump-victory-rally-how-long-before-btc-hits-100000-analysts-reveal?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hovers Around $90K, Ethereum, Dogecoin Extend Trump Victory Rally: How Long Before BTC Hits $100,000? Analysts Reveal</a>
Why It Matters: SoftBank&#8217;s <a href="https://www.benzinga.com/news/24/08/40387488/masayoshi-sons-plans-to-rival-nvidia-with-softbanks-own-ai-chip-production-hit-a-roadblock-as-intel">interest in AI</a> has been a recurring theme, with CEO Masayoshi Son predicting the advent of artificial superintelligence within a decade.
More recently, SoftBank has been in the news for its plans to rival Nvidia with its own AI chip production. However, these plans hit a roadblock as negotiations with Intel <a href="https://www.benzinga.com/news/24/08/40387488/masayoshi-sons-plans-to-rival-nvidia-with-softbanks-own-ai-chip-production-hit-a-roadblock-as-intel">reportedly fell through</a>. This latest financial success may provide SoftBank with the resources to further pursue its AI ambitions.
In August, SoftBank <a href="https://www.benzinga.com/markets/asia/24/08/40213337/masayoshi-sons-softbank-announces-3-4b-share-buyback-as-vision-fund-tech-arm-yields-investment-gains">announced a $3.4 billion share buyback program</a>, following pressure from concerned shareholders. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/24/11/41960485/nvidias-crypto-past-returns-to-haunt-as-supreme-court-signals-green-light-for-lawsuit">Nvidia&#8217;s Crypto Past Returns To Haunt As Supreme Court Signals Green Light For Lawsuit</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>

Asia

SoftBank Is In Profit Once Again Thanks To Indian IPOs: What's Next For Masayoshi Son?

Deepwater Asset Management&#8217;s managing partner Gene Munster has supported Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk&#8217;s <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">new role in President-elect</a> Donald Trump&#8217;s administration.
What Happened: On Wednesday, Munster took to X, formerly Twitter, and advised critics not to underestimate Musk.
&#8220;It takes longer for Elon&#8217;s&nbsp;visions to become reality,&#8221; he stated, adding, &#8220;It&#8217;ll likely take many years&nbsp;for Musk&#8217;s plans to result&nbsp;in a $2T reduction in&nbsp;government spend.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/personal-finance/24/11/41773588/elon-musks-mom-knew-he-was-a-genius-by-3-years-old-but-worried-hed-end-up-in-a-basement-now-hes-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Mom Knew He Was A &#8216;Genius&#8217; By 3 Years Old But Worried He&#8217;d &#8216;End Up In A Basement&#8217; – Now He&#8217;s The Richest Man In The World</a>
Munster also said that&nbsp;the Tesla CEO operates under &#8220;first principles,&#8221; and he expects Musk to propose numerous ways to improve government operations in the coming months.
His final advice to those skeptical about Musk&#8217;s role in government was simple: &#8220;Don&#8217;t bet against Elon.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Three thoughts for those in DC who are up in arms at the prospect of Elon coming in hot and changing the way government is done: 1) It takes longer for Elon&#39;s visions to become realty. Retail investors and Wall Street more broadly have seen this in play for the last decade.…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1856768018749296872?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
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Why It Matters: This development follows Trump&#8217;s plan to appoint Musk and former presidential candidate Vivek Ramaswamy to lead a new Department of Government Efficiency (DOGE).
Meanwhile, the leading dog-themed cryptocurrency, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surged by more than 93% over the past week, securing the sixth spot among the largest cryptocurrencies by market capitalization. The cryptocurrency shares the same acronym as the efficiency department.
The initiative, compared to &#8220;The Manhattan Project,&#8221; will focus on dismantling bureaucracy, reducing regulations, and cutting wasteful expenditures.
Previously,&nbsp;<a href="https://www.benzinga.com/personal-finance/24/11/41701075/elon-musk-warns-of-hardship-for-americans-if-trump-puts-him-in-charge-of-cutting-33-trillion-deb">Musk had warned</a>&nbsp;of &#8220;temporary hardship&#8221; for Americans as he aims to drastically reduce federal spending.
At the time, he said that cuts would be so broad that &#8220;everyone&#8217;s going to have to take a haircut,&#8221; and predicted pushback, calling it a necessary path to &#8220;long-term prosperity.&#8221;
Price Action: Following Trump&#8217;s announcement regarding the new department, Tesla shares ended Wednesday&#8217;s session with a 0.53% increase, ending at $330.24. However, in after-hours trading, the stock saw a slight dip, falling to $329.69 as of the latest update, according to the <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>. 
Dogecoin is currently priced at $0.3854, reflecting a 0.65% gain over the last 24 hours. However, the trading volume for DOGE has dropped by 38.05%, standing at $25.06 billion at the time of writing.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41890024/much-wow-dogecoin-is-now-larger-than-ford-adidas-lululemon-roblox-15-companies-worth-less-than-meme-crypto?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Much Wow! Dogecoin Is Now Larger Than Ford, Adidas, Lululemon, Roblox: 15 Companies Worth Less Than Meme Crypto</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Gene Munster Says Elon Musk's DOGE Efficiency Plans Should Not Be Underestimated, But Warns 'It'll Likely Take Many Years' To Achieve $2 Trillion In Government Spending Cuts

On Wednesday, major U.S. indices showed mixed results: the Dow Jones Industrial Average edged up 0.1% to close at 43,958.19, while the S&amp;P 500 gained a slight 0.02% to end at 5,985.38. Meanwhile, the Nasdaq slipped 0.3% to finish at 19,230.72.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir closed the day with a 1.42% gain at $60.70, with an intraday high and low of $63.39 and $59.85 respectively. The stock&#8217;s 52-week high and low stand at $63.39 and $15.66. The company recently announced the renewal of its <a href="https://www.benzinga.com/24/11/41936392/whats-going-on-with-palantir-stock-after-renewing-collaboration-with-rio-tinto">multi-year enterprise agreement</a> with mining giant Rio Tinto Plc, extending the partnership for an additional four years.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
Amazon&#8217;s shares rose by 2.48% to close at $214.10. The stock&#8217;s intraday high and low were $215.09 and $209.14, with a 52-week high and low of $215.09 and $139.53. The company <a href="https://www.benzinga.com/news/global/24/11/41949051/whats-going-on-with-amazon-stock-wednesday-2">launched</a> a low-cost shopping storefront called "Haul" to compete with heavily discounted Chinese products from competitors like Temu and Shein.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41867104/lucid-ceo-scrambles-for-damage-control-as-shares-plunge-47-this-year-as-a-major-shareholderbelieve-me-nobody-is-more-incentivized-than-me-for-success?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lucid CEO Scrambles For Damage Control As Shares Plunge 47% This Year: &#8216;As A Major Shareholder…Believe Me</a>
Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>)
Cisco&#8217;s stock increased by 0.80% to close at $59.18. The intraday high and low were $59.28 and $57.84, while the 52-week high and low were $59.38 and $44.5. The company reported <a href="https://www.benzinga.com/24/11/41936392/whats-going-on-with-palantir-stock-after-renewing-collaboration-with-rio-tinto">first-quarter revenue</a> of $13.84 billion, beating the consensus estimate of $13.77 billion.
Intuitive Machines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>)
Intuitive Machines saw a significant 13.08% increase to close at $11.76. The stock&#8217;s intraday high and low were $12.99 and $10.60, with a 52-week high and low of $13.25 and $2.09. The company&#8217;s shares rose in <a href="https://www.benzinga.com/news/earnings/24/11/41952975/intuitive-machines-ast-spacemobile-shares-are-surging-whats-going-on">anticipation of its earnings report</a>, set to be released on Thursday.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares saw a slight increase of 0.53% to close at $330.24. The stock&#8217;s intraday high and low were $344.60 and $322.50, with a 52-week high and low of $358.64 and $138.80. The EV giant recalled 2,431 Cybertrucks in the U.S. over concerns of a <a href="https://www.benzinga.com/news/earnings/24/11/41952975/intuitive-machines-ast-spacemobile-shares-are-surging-whats-going-on">potential loss of drive power</a> to the wheels.
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Image via Shutterstock
Read Next: 
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<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>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

AMZN

CSCO

LUNR

PLTR

Palantir, Amazon, Cisco, Intuitive Machines, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Wednesday, the Cathie Wood-led Ark Invest made substantial trades in Rocket Lab USA Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Archer Aviation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>).
The Rocket Lab USA Inc Trade
Ark Invest sold 479,628 shares in Rocket Lab USA. The trades were made through ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) and were valued at almost $9 million. On Wednesday, Rocket Lab shares shot up over 28% to $18.83.
This sale came after Rocket Lab reported better-than-expected financial results for the third quarter and announced a multi-launch agreement with a <a href="https://www.benzinga.com/news/contracts/24/11/41941068/rocket-lab-stock-is-blasting-off-wednesday-whats-going-on">confidential customer</a>. The company was also awarded a defense contract worth up to $8 million. Rocket Lab&#8217;s shares surged after it reported revenue of $104.81 million, beating the consensus estimate of $102.28 million. The company also reported a loss of 10 cents per share, which was less than the expected loss of 11 cents per share. Rocket Lab expects fourth-quarter revenue in the range of $125 million to $135 million and plans to end the year with more Electron launches. The company has already set an annual launch record with 12 Electron launches to date. 
The Amazon.com Trade
Ark Invest also purchased Amazon.com shares. Those transactions were made through ARKQ and ARKX and were valued at $956,812. On Wednesday, Amazon shares ended the day 2.48% higher at $214.10.
Amazon&#8217;s stock rose after the company launched an <a href="https://www.benzinga.com/news/global/24/11/41949051/whats-going-on-with-amazon-stock-wednesday-2">online storefront</a> called &#8220;Haul,&#8221; designed to compete with Temu. The storefront offers low-cost shopping, with products priced to compete with heavily discounted Chinese products from competitors like Temu and Shein. Chinese e-commerce platforms have built loyal user bases by offering steep discounts on merchandise. Amazon began talking with China-based sellers about offering a similar service earlier this year. 
The Archer Aviation Trade
Archer Aviation was another significant trade made by Ark Invest. The firm purchased 57,395 shares of the company for $245,650. The trades were made through ARKQ and ARKX. Archer Aviation shares closed Wednesday 8.15% lower at $4.28.
Archer Aviation, a frontrunner in the electric vertical takeoff and landing (eVTOL) aircraft sector, has seen its stock price soar after signing a <a href="https://www.benzinga.com/content/41897968/archer-aviation-taking-off-in-tokyo-and-beyond">major deal</a> with a Japanese aviation giant and reporting solid earnings for the third quarter of fiscal year 2024. Archer Aviation&#8217;s strategic alliance with Soracle, a joint venture between Japan Airlines (JAL) and Sumitomo Corporation, has electrified the eVTOL market. Soracle has obtained the right to purchase up to 100 of Archer&#8217;s Midnight aircraft, with a potential value reaching $500 million. This agreement marks a significant financial boost for Archer and a calculated entry into a market ripe for urban air mobility disruption. 
Importantly, Ark also purchased 55,770 shares of Joby Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>). Joby is also an eVTOL company. The transaction amounted to $329,043.
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>
Other Key Trades: 
<ul>
<li>Ark purchased 1,000 shares of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) through ARKX. The transaction was valued at $139,300.</li>
<li>The Wood-led firm purchased shares of Iridium Communications Inc. (IRDM), L3Harris Technologies Inc. (LHX), and Schrodinger Inc. (SDGR).</li>
<li>Ark Sold shares of Repare Therapeutics Inc. (SNTI) and Adaptive Biotechnologies Corp. (ADPT) along with Exact Sciences Corp. (EXAS).</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41891682/dogecoin-bitcoin-returns-are-dazzling-but-first-neiro-on-ethereum-and-popcat-have-run-up-55000-and-20000-so-far-in-2024?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Bitcoin Returns Are Dazzling But First Neiro On Ethereum And Popcat Have Run Up 55000% and 20000% So Far In 2024</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

ACHR

ARKQ

ARKX

JOBY

Cathie Wood Cashes Out On Rocket Lab's 28% Surge in $9M Share Sale But Expands Bet On Flying Cars

Bitcoin continued to make records as supportive inflation numbers raised the market's expectations of further interest rate cuts by the Federal Reserve.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.79%</td>
<td>$89,874.80</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.11%</td>
<td>$3,190.24</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.10%</td>
<td>$0.3925</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency sailed above $93,000 during U.S. trading hours Wednesday, before a sharp correction into the $89,000 zone.
Bitcoin's dominance rose to 60%, reflecting that investors were far more confident in it than other cryptocurrencies.
Ethereum also rallied to an intraday high of $3,366, later cooling down to $3,190, as investors began cashing out.
Nearly $850 million in derivatives contracts was erased in the last 24 hours, with leveraged longs accounting for 61% of the total.
Bitcoin's Open Interest (OI) rose 2.30% in the last 24 hours, signaling higher speculative interest.&nbsp;
Most top trader accounts on Binance were still positioned for Bitcoin's decline, as seen from the Long/Short Ratio indicator.
The "Extreme Greed" sentiment strengthened as the reading on the Cryptocurrency Fear and Greed Index rose from 84 to 88.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Peanut the Squirrel (PNUT)</td>
<td>+443.42%</td>
<td>$2.32</td>
</tr>
<tr>
<td>Pepe (PEPE)</td>
<td>+46.86%</td>
<td>$0.00002171</td>
</tr>
<tr>
<td>Floki (FLOKI)</td>
<td>+30.28%</td>
<td>$0.0000024</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.98 trillion, following an increase of 1.32% in the last 24 hours.
Stocks ticked slightly higher on Wednesday. The Dow Jones Industrial Average rose 47.21 points, or 0.11%, to close at 43,958.19. The S&amp;P 500 gained 0.02% to end at 5,985.38. The tech-heavy Nasdaq Composite registered the second straight day of decline, closing down 0.26% at 19,230.72.
Consumer Price Index (CPI) rose from 2.4% in September to 2.6% in October, <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41938762/october-inflation-rate-rises-to-2-6-as-expected-december-interest-rate-cut-remains-uncertain">in line with economist predictions</a>. Investors raised the odds of a 25 basis-point cut at next month's FOMC meeting to 82% from 58% a day before, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">data </a>from the CME FedWatch tool showed.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: In a note to Benzinga, Chris Kline, COO and Co-Founder of BitcoinIRA, said that Bitcoin was likely to witness heightened volatility on the road to $100,000.
"This is not an unexpected phenomenon, as the market often experiences corrections and fluctuations as it navigates uncharted territory," Kline added.
He also backed Bitcoin's appeal as a wealth preservation asset, predicting that it would catch up given the higher chance of another interest rate cut next month.
Influential cryptocurrency analyst Ali Martinez spotted a cup-and-handle pattern for Bitcoin, widely considered a bullish signal in technical analysis.
Martinez set a price target of $255,000 for the leading cryptocurrency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> price action is following a cup-and-handle pattern, the bullish target could reach $255,000! <a href="https://t.co/EMuA0QAPKA">pic.twitter.com/EMuA0QAPKA</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1856710863023190231?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41959476/fbi-raids-polymarket-ceo-over-crypto-betting-platforms-us-activities-he-fires-back-in-the-face-of-adversity-we-build">FBI Raids Polymarket CEO Over Crypto Betting Platform&#8217;s US Activities — He Fires Back: &#8216;In The Face Of Adversity, We Build&#8217;</a></li>
</ul>

$ETH

Bitcoin Flirts With $100K, Dogecoin Edges Higher, Ethereum Dips As CPI Numbers Fuel Rate Cut Hopes: Analyst Says BTC Could See Over 180% Upside Due To This Bullish Pattern

The U.S. Supreme Court has signaled its inclination to uphold a class-action lawsuit against Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for allegedly providing misleading information to investors about its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41931788/nvidia-set-for-major-surge-to-204-analyst-predicts-post-q3-boost-driven-by-blackwell-gpu-demand-strong-margins">reliance on cryptocurrency mining</a>.
What Happened: The Supreme Court heard arguments on Wednesday regarding Nvidia&#8217;s appeal to dismiss a lawsuit accusing the company of misrepresenting its dependence on selling computer chips for cryptocurrency mining, <a href="https://apnews.com/article/supreme-court-nvidia-securities-fraud-cryptocurrency-e146e0d9a4d6887b187ea662bf4c9a6c">reported</a> the Associated Press.
The lawsuit, initiated by a Swedish investment management firm in 2018, persisted despite Nvidia&#8217;s appeal of a lower-court ruling. The case is one of two high-profile class-action lawsuits against tech companies currently under the Supreme Court&#8217;s scrutiny.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41893461/dogecoins-golden-cross-sparks-hype-after-meme-coin-doubles-over-last-week-previous-cycle-saw-a-7000-rally-could-history-repeat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s Golden Cross Sparks Hype After Meme Coin Doubles Over Last Week: Previous Cycle Saw A 7,000% Rally, Could History Repeat?</a>
Following a downturn in cryptocurrency profitability, Nvidia&#8217;s revenues fell short of projections, leading to a 28% decline in the company&#8217;s stock price. In 2022, Nvidia paid a $5.5 million fine to the Securities and Exchange Commission for failing to disclose that cryptomining was a significant revenue source from the sale of graphics processing units marketed for gaming.
Despite the lawsuit, Nvidia has maintained its position as a leading company in the artificial intelligence sector. The company&#8217;s chipmaking dominance has solidified its status as a key player in the AI boom.
Why It Matters: Nvidia has been making significant strides in the AI space. The company recently partnered with SoftBank to build Japan&#8217;s most <a href="https://www.benzinga.com/news/global/24/11/41929194/nvidia-and-softbank-to-build-japans-top-ai-supercomputer-on-blackwell-platform-jensen-huang-says-tokyo-is-leaping-into-the-ai-industrial-revolution">powerful AI supercomputer</a>, marking a crucial step in Japan&#8217;s global AI dominance.
Analysts have also predicted a major surge in Nvidia&#8217;s stock following its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41931788/nvidia-set-for-major-surge-to-204-analyst-predicts-post-q3-boost-driven-by-blackwell-gpu-demand-strong-margins">third-quarter performance</a>, driven by strong demand for its Blackwell GPUs. Despite this, the ongoing lawsuit could potentially impact the company&#8217;s financial standing.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41952923/bitcoin-crosses-90000-ethereum-dogecoin-move-upwards-as-pepe-dogwifhat-get-listed-on-coinbase">Bitcoin Crosses $90,000, Ethereum, Dogecoin Move Higher As Coinbase Lists Pepe, Dogwifhat</a></li>
</ul>
Image via Unsplash
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>

Legal

Nvidia's Crypto Past Returns To Haunt As Supreme Court Signals Green Light For Lawsuit

The final supermoon of 2024 will appear in the night sky on Thursday, offering a brighter, bigger view of Earth&#8217;s satellite.
This supermoon will come within 225,000 miles of Earth, reaching its full lunar phase on Friday. If you miss it, you'll have to wait until 2025 to see another.
This supermoon arrives after the Taurid meteor shower and before the peak of the Leonids later this month. The closest supermoon this year occurred in October, at just over 222,000 miles from Earth.
What Makes A Moon ‘Super'
The term &#8220;supermoon&#8221; isn't scientific. It simply refers to a full moon that appears when the moon is at its closest point to Earth in its orbit. Though only slightly larger, it can appear up to 30% brighter than a regular full moon.
See Also: <a href="https://www.benzinga.com/tech/24/11/41931521/apples-2024-mac-mini-is-a-compact-powerhouse-but-its-power-button-placement-is-not-the-most-accessible-here-are-some-workable-fixes">Apple&#8217;s 2024 Mac Mini Is A Compact Powerhouse, But Its Power Button Placement Is Not The Most Accessible: Here Are Some Workable Fixes</a>
Tips For Capturing The Supermoon On Your Smartphone
Taking a clear photo of the full moon with a smartphone is challenging but achievable with a few simple tips:
Step I: Charge Your Phone And Bring A Backup Battery
Moon photography can drain your battery, so start with a full charge and pack a portable battery.
Step II: Find The Right Timing And Position
Use a moonrise calculator to determine when the moon will rise locally. Look for an open view to the east, ideally somewhere with minimal obstructions like a beach or hill.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044815/benjamin-davies-9b5dvrjb05g-unsplash-1024x576.jpg" alt="" class="wp-image-644809" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044815/benjamin-davies-9b5dvrjb05g-unsplash-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044815/benjamin-davies-9b5dvrjb05g-unsplash-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044815/benjamin-davies-9b5dvrjb05g-unsplash-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044815/benjamin-davies-9b5dvrjb05g-unsplash-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044815/benjamin-davies-9b5dvrjb05g-unsplash.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representation Image &#x7C; Source: Unsplash</figcaption></figure>
Step III: Use A Tripod For Stability
A smartphone tripod will help avoid blurry images. If you don't have one, rest your phone on a steady surface and use a shutter delay feature to prevent any movement.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="681" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044530/atsushi-tsubokura-bkgfQWYl8W0-unsplash-1024x681.jpg" alt="" class="wp-image-644804" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044530/atsushi-tsubokura-bkgfQWYl8W0-unsplash-1024x681.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044530/atsushi-tsubokura-bkgfQWYl8W0-unsplash-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044530/atsushi-tsubokura-bkgfQWYl8W0-unsplash-768x511.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044530/atsushi-tsubokura-bkgfQWYl8W0-unsplash-1536x1022.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13044530/atsushi-tsubokura-bkgfQWYl8W0-unsplash.jpg 1623w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representation Image &#x7C; Source: Unsplash</figcaption></figure>
Step IV: Lock Focus And Adjust Exposure
Tap and hold on to the moon on your screen to lock focus, then adjust the exposure manually. This is especially useful when the moon is near the horizon and has a warm hue.
Step V: Shoot In RAW Mode
Enable RAW mode in your phone's settings for better detail and dynamic range, capturing both the moon's highlights and the surrounding shadows.
Step VI: Use Binoculars Or A Telescope
For even more detail, align your phone with a telescope or binoculars for a magnified view.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1000" height="667" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/03/14081103/shutterstock_1698713530.jpg" alt="Moon Photo by Paitoon Pornsuksomboon on Shutterstock" class="wp-image-13718" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/03/14081103/shutterstock_1698713530.jpg 1000w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/03/14081103/shutterstock_1698713530-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/03/14081103/shutterstock_1698713530-768x512.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /><figcaption class="wp-element-caption">Representation Image &#x7C; Source: Shutterstock</figcaption></figure>
Bonus Tip: Apps like Camera+ 2 or VSCO allow you to control ISO and shutter speed, giving you more flexibility and overexposure.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo by Paitoon Pornsuksomboon on Shutterstock
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<li><a href="https://www.benzinga.com/news/24/09/41061167/ios-18-includes-apples-new-passwords-app-with-end-to-end-encryption-heres-how-you-use-it" target="_blank" rel="noreferrer noopener">iOS 18 Includes Apple&#8217;s New Passwords App with End-to-End Encryption: Here&#8217;s How You Use It</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

General

Last Supermoon Of 2024: Tips To Take That Perfect Shot With Just Your Phone

At LAUNCH Festival 2015, Peter Thiel offered insights into how Elon Musk simultaneously transformed the auto and aerospace industries through Tesla Inc. and SpaceX.
What Happened: In a conversation with Jason Calacanis, Thiel explained that Musk succeeded partly by choosing &#8220;weak competition.&#8221;
He noted that while traditional car companies and the U.S. aerospace sector had &#8220;barely innovated in 50 years,&#8221; Musk entered these industries with strategic foresight.
&#8220;If you&#8217;re going to start a search company, that would be tough because Google's a really tough company… going up against General Motors… and Lockheed, you're at least picking pretty weak competition,&#8221; he stated.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41945659/dogecoin-to-69-cents-or-1-benzinga-readers-predict-how-high-it-could-fly-by-end-of-2024?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin To 69 Cents Or $1? Benzinga Readers Predict How High It Could Fly By End Of 2024</a>
Thiel also described Musk's talent for &#8220;complex coordination.&#8221; This involves combining existing components in new ways, as seen in SpaceX&#8217;s rockets and Tesla&#8217;s cars.
The Paypal and Palantir Technologies co-founder and billionaire investor compared this approach to Apple Inc.&#8217;s creation of the iPhone, which also involved bringing together existing technologies in a novel way.
Thiel also expressed his confidence in Musk&#8217;s ventures, stating, &#8220;I would never bet against&nbsp;Elon in anything.&#8221; 
While Musk was on vacation, PayPal's board, led by Thiel and Max Levchin, <a href="https://www.benzinga.com/fintech/23/08/33975786/elon-musks-paypal-merger-tactics-slammed-by-former-paypal-executive-now-that-were-married-let-me-tel">ousted him as CEO</a>, appointing Thiel in his place in September 2000.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Peter Thiel on being a contrarian" width="500" height="281" src="https://www.youtube.com/embed/ryFB6mvy4uE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It Matters: Musk founded SpaceX in 2002, investing $100 million from his PayPal earnings.
Following his ousting from PayPal, Musk reportedly grew frustrated with NASA's lack of Mars plans and began pursuing private space projects, including a $100,000 pledge to the Mars Society.
SpaceX initially operated out of hotel conference rooms before moving to Hawthorne, California, where Musk, serving as Chief Engineer, led the development of the Falcon 1 rocket.
In 2008, Falcon 1 became the <a href="https://www.benzinga.com/news/21/12/24731951/its-a-wrap-elon-musks-spacex-launches-final-falcon-9-to-space-for-2022-31st-such-mission-for-the-yea">first privately developed</a> liquid-fueled rocket to reach orbit. Musk's goal was clear: cut space transportation costs and make Mars colonization possible.
However, in 2022, Musk expressed his wish for <a href="https://www.benzinga.com/news/22/04/26775439/elon-musk-rues-lack-of-competition-for-spacex-heres-why">more competition for SpaceX</a>, believing it would aid in making life multi-planetary.
In the first half of 2024, SpaceX <a href="https://www.benzinga.com/news/24/07/39612042/elon-musks-spacex-launches-67-missions-in-first-half-of-2024-trailing-own-targets">launched 67 missions</a> using its Falcon launch vehicles.
Meanwhile, Musk&#8217;s journey with Tesla began in 2004, a year after founders Martin Eberhard and Marc Tarpenning launched the company.
He joined as an early investor and board chairman, contributing $6.35 million of Tesla's initial $6.5m Series A financing, as <a href="https://www.forbes.com/sites/quora/2014/12/29/how-much-equity-did-elon-musk-get-from-investing-in-teslas-series-a/">per</a> Forbes.
His role quickly expanded, and after internal tensions led to Eberhard&#8217;s exit, <a href="https://www.benzinga.com/general/24/01/36574844/elon-musk-says-he-never-wanted-to-be-ceo-of-tesla-or-anything-running-companies-hurts-my-heart-but-h">Musk took over as CEO in October 2008</a>.
Thiel's Founders Fund has invested in SpaceX but holds no stake in Tesla. Previously, Thiel has said that he typically avoids public companies, and Tesla went public relatively early in 2010—though he has since <a href="https://www.benzinga.com/news/24/07/39639542/palantir-chair-peter-thiel-praises-elon-musks-risk-taking-ability-regrets-not-investing-in-tesla-the">admitted having some regrets</a>.
&#8220;We should have invested in that one,&#8221; he said at the Aspen Ideas Festival in late June 2024.
Last month, <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">Tesla reported third-quarter revenue</a> of $25.18 billion, up 8% year-over-year, missing a Street consensus estimate of $25.37 billion.
Image via Wikimedia Commons
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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