Latest news for Pola Orbis Holdings (OTC:PORBF) Stock

Pola Orbis Holdings Inc is a beauty and health company. The company has a multibrand and multichannel strategy, being engaged in mail-order sales (online and catalog) and retail-store sales. The business divisions comprise the beauty care business, the real estate business, and others. The beauty care business, generating more than 90% of sales, has two main brands--Pola and Orbis--which are sold internationally. The real estate business leases office buildings, while the others segment is engaged in development of pharmaceutical and dermatological products.

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POLA ORBIS HOLDINGS INC by Pola Orbis Holdings Inc

Pola Orbis Holdings Inc

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has <a href="https://www.benzinga.com/24/12/42321349/drakes-legal-fight-involving-kendrick-lamar-takes-center-stage-and-so-do-their-mega-mansions">strongly denied allegations</a> from Drake that it &#8220;artificially inflated&#8221; streaming numbers for rival artist Kendrick Lamar&#8217;s track &#8220;Not Like Us.&#8221;
What Happened: In opposition papers filed, Spotify stated it &#8220;has no economic incentive&#8221; to favor Lamar&#8217;s track over Drake&#8217;s music, <a href="https://variety.com/2024/music/news/spotify-slams-drake-claim-inflated-kendrick-lamar-streams-1236256265/">reported</a> Variety.
&#8220;Marquee was purchased on behalf of the song, for €500 to promote the track in France. Marquee is a visual ad that is disclosed to users as a Sponsored Recommendation,&#8221; stated a Spotify spokesperson.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/09/41009103/spotifys-ai-playlist-now-available-in-us-other-countries-heres-how-it-works">Spotify&#8217;s AI Playlist Now Available In US, Other Countries: Here&#8217;s How It Works</a>
Drake&#8217;s company Frozen Moments had previously filed a petition claiming that Spotify and Universal Music Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UMGNF#OTC">UMGNF</a>) artificially boosted Lamar&#8217;s streaming numbers.
The petition alleged UMG offered Spotify a 30% discount on licensing rates in exchange for promoting &#8220;Not Like Us,&#8221; a claim both companies deny.
Earlier, Universal Music Group rejected the accusations as &#8220;offensive and untrue,&#8221; underscoring their commitment to ethical marketing practices. A UMG spokesperson stated that fan choice, not manipulation, drives streaming numbers.
Drake&#8217;s legal team responded through a statement to Variety, challenging both companies to comply with discovery requests if they have &#8220;nothing to hide.&#8221;
Why It Matters: The dispute has expanded beyond streaming numbers, with Drake filing a separate action in Texas alleging defamation and improper radio promotion practices.
Neither artist is directly signed to UMG, instead licensing their music through their own companies &#8211; Drake&#8217;s OVO and Lamar&#8217;s pgLang &#8211; to Universal labels for marketing and distribution.
Sources familiar with the matter suggest that Drake&#8217;s petition primarily targets Universal — the label responsible for distributing his music since his 2009 debut with Lil Wayne's Young Money — rather than Spotify, iHeart, or Lamar himself, the report noted.
However, the timing of the legal action, revolving around a song tied to the prolonged feud between the two artists, seems far from coincidental.
"Not Like Us" stands out as a diss track that not only climbed to the top of the Billboard Hot 100 but also secured multiple nominations for the 2025 Grammy Awards.
Price Action: Spotify&#8217;s stock rose by 1.48% on Friday, closing at $460.88. Year-to-date, the company&#8217;s shares have skyrocketed 144.11%, significantly outperforming the Nasdaq 100 index, which has gained 28.68% during the same timeframe, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42522048/jim-cramer-warns-nvidias-vicious-and-fast-reversal-is-coming-amid-174-surge-this-year-and-china-antitrust-probe?itm_source=parsely-api">Jim Cramer Warns Nvidia's ‘Vicious' And ‘Fast' Reversal Is Coming Amid 174% Surge This Year And China Antitrust Probe</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">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
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UMGNF

Spotify Fires Back At Drake: Calls 'Artificially Inflated Streams' Allegation Over Kendrick Lamar's Hit Unfounded

Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) shares are soaring in after-hours trading Friday after the company announced it has entered into a definitive agreement for a <a href="https://www.benzinga.com/pressreleases/24/12/g42630663/rumble-announces-775-million-strategic-investment-from-tether">strategic investment of $775 million</a> from Tether. 
The Details: Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) has agreed to purchase 103.33 million shares of Rumble Class A Common Stock at a price per share of $7.50, totaling $775 million in gross proceeds to Rumble. 
Rumble said it will use $250 million of the proceeds to support growth initiatives and the remaining proceeds to fund a self tender offer for up to 70 million of its Class A Common Stock at $7.50 per share.
Tether's investment and the tender offer are expected to close in the first quarter of 2025. Rumble&#8217;s existing Board and governance structure will remain unchanged following the closing of the transaction.
Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42598651/mystery-drone-sightings-all-over-the-country-trump-says-what-to-know-about-investigations-lawmakers-reactions">&#8216;Mystery Drone&#8217; Sightings Spark Investigations, Politicians Respond: &#8216;Shoot Them Down,&#8217; Trump Says</a>
Chris Pavlovski, Rumble&#8217;s CEO, will retain his controlling stake in the company following the completion of the transaction.&nbsp;
&#8220;I could not be more excited about this collaboration with Tether for a number of reasons. First, many people may not realize the incredibly strong connection between the cryptocurrency and free speech communities, which is rooted in a passion for freedom, transparency, and decentralization," said Pavlovski.&nbsp;
"Second, the immediate commitment of adding $250 million in cash to our balance sheet not only confirms the level of support and commitment to a collaboration between our companies, it also fuels our growth initiatives. And, third, this transaction provides an immediate liquidity event for all of our stockholders who elect to participate in the self tender offer," he added.&nbsp;
Paolo Ardoino, CEO of Tether, commented on the investment in Rumble.&nbsp;
&#8220;Tether&#8217;s investment in Rumble reflects our shared values of decentralization, independence, transparency, and the fundamental right to free expression. In today&#8217;s world, legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative," said Ardoino.
RUM Price Action: According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>, Rumble shares are up 50.7% at $10.79 in after-hours trading Friday. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42564443/santa-came-early-with-rate-cut-but-federal-reserve-brings-coal-next-year-experts-weigh-in-on-rate-cut-feds-2025-projections">&#8216;Santa Came Early&#8217; But Fed Brings &#8216;Coal Next Year&#8217;: Experts Weigh In On Interest Rate Cut, 2025 Projections</a></li>
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Image: Shutterstock

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

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Rumble Stock Soars On $775 Million Investment From Tether: What To Know

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining company MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) announced the acquisition of 15,574 BTC for $1.53 billion, funded by $1.925 billion raised through zero-coupon convertible notes issued in November and December.
What Happened: In a post on social media platform X, MARA revealed its total Bitcoin holdings now stand at 44,394 BTC, valued at approximately $4.3 billion based on Bitcoin&#8217;s current price of $97,377.
The Florida-based firm acquired the cryptocurrency at an average price of $98,529 per Bitcoin.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a>
Additionally, MARA repurchased $263 million of its existing convertible notes due in 2026 and plans to use the remaining funds to buy more Bitcoin.
The company also highlighted its Bitcoin yield achievements, reporting a quarter-to-date (QTD) yield of 22.5% and a year-to-date (YTD) yield of 60.9%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">MARA raised $1.925 billion from 0% convertible notes in November and December. Using the proceeds from its zero-coupon convertible notes offerings, MARA has acquired 15,574 BTC for ~$1.53 billion at ~$98,529 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> and repurchased ~$263 million in aggregate principal amount… <a href="https://t.co/ycGRk9BYfv">pic.twitter.com/ycGRk9BYfv</a>
&mdash; MARA (@MARAHoldings) <a href="https://twitter.com/MARAHoldings/status/1869729480211664974?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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Why It Matters: Bitcoin proxy MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42509614/microstrategy-expands-bitcoin-holdings-by-15350-btc-worth-15-billion-after-joining-nasdaq-100">aggressively buying up BTC</a> by raising funds through both stock offerings as well as debt. It holds 2.1% of the Bitcoin supply, or about 439,000 BTC, at an average price of $61,725.
Other Bitcoin mining firms are similarly bolstering their reserves.
Hut 8 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) <a href="https://www.benzinga.com/24/12/42596774/whats-going-on-with-hut-8-shares-today">recently acquired 990 BTC</a> for $100 million, bringing its total holdings to 10,096 BTC, worth approximately $983.1 million.
The company's CEO Asher Genoot emphasized the strategic value of building Bitcoin reserves to strengthen the company's financial position while pursuing growth in power and digital infrastructure.
Riot Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) also increased its Bitcoin holdings by <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42485534/riot-platforms-acquires-5117-bitcoin-for-510million">purchasing 5,117 BTC</a> through company-issued bonds, bringing its total to 16,728 BTC, valued at $1.63 billion.
Price Action: Bitcoin was hovering around $97,606 at the time of writing, gaining 0.71% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
MARA Holdings stock gained nearly 2% in after-hours trading on Friday, after closing at $19.96 during the regular trading session.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42495782/crypto-market-predicted-to-surge-to-all-time-highs-by-late-2025-but-a-30-drop-in-bitcoin-prices-could-come-first">Crypto Market Predicted To Surge To All-Time Highs By Late 2025, But A 30% Drop In Bitcoin Prices Could Come First</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

$BTC

MARA

MSTR

RIOT

Bitcoin Miner MARA Holdings Embraces MicroStrategy Playbook, Acquires $1.53 Billion Worth BTC

Electric vehicle manufacturer Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) has reportedly struck a confidential deal with the United Auto Workers (UAW) union.
What Happened: This "secret" agreement would see Rivian remain neutral towards unionization efforts at its Illinois plant if the company achieves certain financial milestones, including profitability, according <a href="https://www.bloomberg.com/news/articles/2024-12-19/uaw-rivian-rivn-strike-secret-deal-to-ease-unionization-of-ev-factory-workers">to</a> a report by Bloomberg, citing sources familiar with the matter.
This &#8220;secret&#8221; deal could smooth the path for the UAW to represent Rivian&#8217;s workers, potentially giving them a greater voice in areas like pay and working conditions.
The deal is also believed to be a factor in Rivian securing a $6.6 billion conditional loan from the U.S. Department of Energy to support its expansion plans, including a new factory in Georgia.
While Rivian has yet to turn a profit, it aims to do so in the near future. The company is ramping up production of its existing R1 models and plans to launch a more affordable R2 model in 2026, significantly increasing its production capacity.
See Also: <a href="https://www.benzinga.com/24/12/42633974/tesla-cybertruck-units-reportedly-found-with-cell-dent-issues-ev-giant-starts-replacing-battery-packs">Tesla Cybertruck Units Reportedly Found With Cell Dent Issues: EV Giant Starts Replacing Battery Packs</a>
This potential unionization comes as the UAW has been actively targeting the growing EV sector. If successful, it could have broader implications for labor relations in the rapidly evolving EV industry.
Why It Matters: Rivian Automotive is intensifying efforts to achieve profitability by 2025 through strategic initiatives, including a significant partnership with Volkswagen, cost-cutting measures, and the introduction of more affordable electric vehicles (EVs).
Rivian is also focusing on reducing production costs and plans to launch the R2 series, a line of budget-friendly EVs, by 2026.
Vivek Ramaswamy, recently appointed to lead the Department of Government Efficiency (DOGE) alongside Tesla Inc. CEO Elon Musk, <a href="https://www.benzinga.com/news/24/11/42255070/musk-ally-ramaswamy-takes-aim-at-bidens-6-6b-loan-to-tesla-rival-rivian">criticized the Biden administration&#8217;s approval</a> of a $6.6 billion loan to Rivian.
Ramaswamy argues that the loan is an inefficient use of taxpayer money, estimating a cost of approximately $880,000 per job created, and suggests it may be a politically motivated move against Tesla. He has indicated that DOGE will scrutinize such expenditures upon taking office.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42633922/qualcomm-bags-win-in-chips-licensing-trial-against-arm-but-the-battle-is-not-over-yet">Qualcomm Bags Win In Chips Licensing Trial Against Arm, But The Battle Is Not Over Yet</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

RIVN

Rivian Reportedly Struck A 'Secret' Deal With UAW That Also Helped It Secure $6.6 Billion Loan From Department Of Energy

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has reportedly found some units of <a href="https://www.benzinga.com/topic/cybertruck">Cybertruck</a> with "cell dent" issues and the company has started replacing battery packs of those cars.
What Happened: According to a report <a href="https://electrek.co/2024/12/20/tesla-finds-cell-dent-issues-in-cybertrucks-starts-replacing-battery-packs/">by</a> Electrek, citing sources familiar with the matter, Tesla has identified the cell dent issue with some Cybertruck units and it has begun sending them back to Gigafactory Texas to solve the problem.
Tesla identified the issue in several inventory vehicles but has not found it in customer-delivered models. The Cybertruck is unique among Tesla&#8217;s lineup as the only vehicle using the company's in-house 4680 battery cells.
Tesla currently produces several thousand Cybertrucks weekly at Gigafactory Texas but has already issued multiple recalls. Many owners have reported frequent service visits, with some even asking Tesla if it would buy back those faulty units.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No, I don't really want to talk about it &#x1f34b; After several failures in our sub 1500 VIN Cybertruck including but not limited to: front motor inverter, rear motor inverter, rear wheel steering, and more under 25k mi, I asked if Tesla would consider buying it back. Overall it's been… <a href="https://t.co/g0n7gvJeho">pic.twitter.com/g0n7gvJeho</a>
&mdash; The Kilowatts &#x1f697;&#x26a1;&#xFE0F; (@klwtts) <a href="https://twitter.com/klwtts/status/1869814610049806737?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
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Why It Matters: While Tesla has big ambitions for the Cybertruck, it has recently faced demand hurdles. The EV giant reportedly <a href="https://www.benzinga.com/24/12/42501487/cybertruck-production-rate-was-reduced-even-before-decembers-production-pause-says-tesla-researcher">reduced the production rate</a> of the Cybertruck, with over 9,000 units still in its inventory.
According to Tesla researcher Troy Teslike, Cybertruck production was reduced by over 55% on Nov. 10.
Tesla also <a href="https://www.benzinga.com/24/12/42283708/tesla-gives-cybertruck-production-line-workers-three-days-off-report">announced a three-day production pause</a>, giving workers on the Cybertruck line paid time off.
Another sign of possible demand hurdles is that Tesla is <a href="https://www.benzinga.com/tech/24/12/42524912/teslas-99k-foundation-series-cybertrucks-still-available-a-sign-of-possible-demand-hurdles">still selling</a> its premium $99,990 foundation series Cybertruck, suggesting that it has not yet sold out all of its inventory.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/12/42523474/alphabets-waymo-expands-global-reach-with-tokyo-robotaxi-testing-eyes-left-hand-traffic-challenges" target="_blank" rel="noreferrer noopener">Alphabet's Waymo Expands Global Reach With Tokyo Robotaxi Testing, Eyes Left-Hand Traffic Challenges</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

TSLA

Tesla Cybertruck Units Reportedly Found With Cell Dent Issues: EV Giant Starts Replacing Battery Packs

On Friday, ChatGPT-maker OpenAI unveiled its next-generation reasoning model, o3, as the successor to o1, capping off the company's <a href="https://www.benzinga.com/tech/24/12/42332451/sam-altman-teases-12-days-of-openai-christmas-magic-users-predict-unveiling-of-sora-o1-reasoning-model-and-more">12 days of shipmas</a> announcements.
What Happened: On the final day of its &#8220;12 Days of OpenAI&#8221; event, the AI startup revealed o3, which brings significant advancements in reasoning and coding capabilities.
Alongside o3, Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI also introduced o3-mini, a smaller version designed for specific, more targeted applications.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We announced <a href="https://twitter.com/OpenAI?ref_src=twsrc%5Etfw">@OpenAI</a> o1 just 3 months ago. Today, we announced o3. We have every reason to believe this trajectory will continue. <a href="https://t.co/Ia0b63RXIk">pic.twitter.com/Ia0b63RXIk</a>
&mdash; Noam Brown (@polynoamial) <a href="https://twitter.com/polynoamial/status/1870172996650053653?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/12/42509206/soundhound-ai-soars-over-700-short-squeeze-potential-has-traders-talking?itm_source=parsely-api">SoundHound AI Soars 700%: Short Squeeze Potential Has Traders Talking</a>
"We view this as the beginning of the next phase of AI. Where you can use these models to do increasingly complex tasks that require a lot of reasoning," stated OpenAI CEO Sam Altman.
The company has begun rolling out o3 to select safety researchers, with plans for broader availability soon. The application window closes on Jan. 10.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">if you are a safety researcher, please consider applying to help test o3-mini and o3. excited to get these out for general availability soon. extremely proud of all of openai for the work and ingenuity that went into creating these models; they are great.
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1870176283851903152?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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Altman also stated that the o3-mini may launch by the end of January, followed by the full release of the o3 model.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Notably, OpenAI skipped over naming the new model &#8220;o2,&#8221; to avoid potential trademark conflicts with British telecom provider O2, <a href="https://www.theinformation.com/briefings/openai-announces-new-reasoning-model-o3">according</a> to The Information.
Why It Matters: OpenAI's progress is evident in the ARC-AGI benchmark, where o3 scored 87.5% on the high compute setting, tripling o1's performance on the lower setting.
The ARC-AGI test is often used to measure progress toward achieving Artificial General Intelligence (AGI) by assessing a model's performance in areas that require advanced problem-solving and reasoning.
However, ARC-AGI co-creator François Chollet also noted that o3 struggles with "very easy tasks" in ARC-AGI, suggesting it has "fundamental differences" from human intelligence.&nbsp;
&#8220;While the new model is very impressive and represents a big milestone on the way towards AGI, I don&#8217;t believe this is AGI &#8212; there&#8217;s still a fair number of very easy ARC-AGI-1 tasks that o3 can&#8217;t solve, and we have early indications that ARC-AGI-2 will remain extremely challenging for o3,&#8221; Chollet stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today OpenAI announced o3, its next-gen reasoning model. We&#39;ve worked with OpenAI to test it on ARC-AGI, and we believe it represents a significant breakthrough in getting AI to adapt to novel tasks. It scores 75.7% on the semi-private eval in low-compute mode (for $20 per task… <a href="https://t.co/ESQ9CNVCEA">pic.twitter.com/ESQ9CNVCEA</a>
&mdash; François Chollet (@fchollet) <a href="https://twitter.com/fchollet/status/1870169764762710376?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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As part of its &#8220;12 Days of OpenAI&#8221; event, the AI startup rolled out the ChatGPT Search engine to all users, <a href="https://www.benzinga.com/tech/24/12/42523020/chatgpt-search-goes-free-openai-challenges-googles-unbroken-search-dominance">including those on the free tier</a>.
The AI startup also unveiled its text-to-image model, Sora, and introduced a $200 monthly ChatGPT Pro <a href="https://www.benzinga.com/tech/24/12/42356469/openai-unveils-200-chatgpt-pro-subscription-inside-the-o1-reasoning-model-and-what-it-means-for-power-users">subscription</a>.
Earlier this month, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) also launched the <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">second generation</a> of its Gemini AI model to regain its position at the forefront of the AI technology race.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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<li><a href="https://www.benzinga.com/tech/24/12/42499609/micron-gets-investment-from-white-house-china-launches-antitrust-investigation-on-nvidia-apple-faces-1-2-billion-lawsuit-in-california-more-consumer-tech-news-december-9-13?itm_source=parsely-api">Micron Gets Investment From White House, China Launches Antitrust Investigation On Nvidia, Apple Faces $1.2 Billion Lawsuit In California &amp; More: Consumer Tech News</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">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

GOOG

GOOGL

MSFT

ChatGPT Maker OpenAI Drops o3 Reasoning Model As o1's Successor: Greg Brockman Calls It A 'Breakthrough'

Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) bagged a key win <a href="https://www.benzinga.com/news/global/24/12/42520522/arm-qualcomm-face-off-in-court-what-to-expect-from-silicon-soap-opera">in its legal battle</a> against semiconductor design company Arm Holdings Plc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>).
What Happened: A federal jury in Delaware ruled that Qualcomm did not violate its licensing agreement with Arm, clearing a hurdle for the San Diego, California headquartered chipmaker.
Qualcomm's win was the result of a mistrial after the jury could not resolve one of the three questions put before it for deliberation. This means Arm can take Qualcomm to the court once again in the future.
While the ruling said Qualcomm did not breach its licensing agreement with Arm, the jury could not determine if Nuvia is guilty of doing so. Nuvia is a startup that was acquired by Qualcomm in 2021 for $1.4 billion.
Qualcomm used Nuvia to bolster its Snapdragon X line of chips that power some Windows laptops. The company projected savings of up to $1.4 billion a year thanks to Nuvia acquisition.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42378342/intel-stock-is-where-it-was-27-years-ago-how-the-worlds-leading-chipmaker-lost-the-plot-thrice">Intel Stock Is Where It Was 27 Years Ago: How The World&#8217;s Leading Chipmaker Lost The Plot, Thrice</a>
Why It Matters: SoftBank Group-backed Arm <a href="https://www.benzinga.com/markets/equities/24/10/41481425/softbank-backed-arm-threatens-to-cancel-qualcomms-chip-design-license-ahead-of-trial-in-december">threatened to cancel</a> Qualcomm's chip design license ahead of the December trial.
Qualcomm's chips power many Android smartphones and tablets – these chip sales account for a large portion of the company's $39 billion revenue.
The company called it an attempt to "strong-arm a longtime partner."
"We are confident that Qualcomm&#8217;s rights under its agreement with Arm will be affirmed," a Qualcomm spokesperson said, according to the report.
Price Action: Qualcomm stock gained over 1.8% in after-hours trading to hover around $152.89, while Arm stock fell by over 1.4% to $132.15, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;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:
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<li><a href="https://www.benzinga.com/24/12/42310095/apple-shares-hit-new-high-despite-iphone-sales-slowdown-expert-reiterates-that-street-is-starting-to-realize-iphone-16-is-the-start-of-a-super-cycle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AAPL Stock Hits New High Despite Sales Slowdown: Tech Bull Says ‘Street Is Realizing&#8217; iPhone 16 Marks The ‘Start Of A Super Cycle&#8217; For Apple</a></li>
</ul>
Photo courtesy: Qualcomm

QCOM

Qualcomm Bags Win In Chips Licensing Trial Against Arm, But The Battle Is Not Over Yet

Tesla and SpaceX CEO Elon Musk, who had earlier expressed skepticism over Speaker Mike Johnson's (R-La.) latest plan, shifted his stance after the passage of a spending package to avert a government shutdown.
What Happened: Taking to X, formerly Twitter, Musk praised Johnson's efforts saying, "The Speaker did a good job here, given the circumstances. It went from a bill that weighed pounds to a bill that weighed ounces."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Speaker did a good job here, given the circumstances. It went from a bill that weighed pounds to a bill that weighed ounces. Ball should now be in the Dem court. <a href="https://t.co/KnSwLEjvjd">https://t.co/KnSwLEjvjd</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1870236798267298044?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/09/41016869/mike-johnson-vows-no-christmas-omnibus-breaking-from-a-terrible-tradition-were-not-going-to-do-any-b">Mike Johnson Vows No Christmas Omnibus, Breaking From A &#8216;Terrible Tradition&#8217;: &#8216;We&#8217;re Not Going To Do Any Buses, OK?&#8217;</a>
Musk had previously questioned whether Johnson's plan, which involved a vote on the failed bill without a debt ceiling provision, was more aligned with Republicans or Democrats.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So is this a Republican bill or a Democrat bill? &#x1f914; <a href="https://t.co/C54cbLGoGR">https://t.co/C54cbLGoGR</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1870210936616755632?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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On Friday, the House of Representatives <a href="https://www.benzinga.com/news/24/12/42633817/house-passes-spending-bill-to-avert-government-shutdown-sidesteps-trumps-demand-to-suspend-federal-debt-limi">passed a stopgap funding measure</a>, narrowly avoiding a government shutdown just hours before the deadline.
Following the passage of a spending package to avert a government shutdown, House minority leader Hakeem Jeffries (D-N.Y.) said, &#8220;House Democrats have successfully stopped extreme MAGA Republicans from shutting down the government, crashing the economy, and hurting working-class Americans all across the land.&#8221;
In response to Jeffries' comments, Musk sarcastically congratulated him on the spending bill victory. His post featured a stack of documents split into two piles—one significantly larger than the other—seemingly critiquing the complexity of legislative processes.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations on your "victory", <a href="https://twitter.com/RepJeffries?ref_src=twsrc%5Etfw">@RepJeffries</a> lol <a href="https://t.co/uxtHKXOamZ">pic.twitter.com/uxtHKXOamZ</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1870241934511329359?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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Why It Matters: The House&#8217;s decision came after a week of intense Republican infighting.
Speaker Johnson had initially brokered a bipartisan funding deal with Democrats, but it was derailed by <a href="https://www.benzinga.com/general/social-media/24/12/42566558/house-republicans-reject-spending-bill-under-pressure-from-trump-musk-government-faces-shutdown">opposition from both</a> President-elect Donald Trump and Musk.
&#8220;Your elected representatives have heard you and now the terrible bill is dead. The voice of the people has triumphed,&#8221; the tech mogul posted on X at the time.
To avoid a government shutdown set for midnight on Friday, Republican leaders unveiled a &#8220;Plan C.&#8221;&nbsp;
This strategy involved holding separate votes on three crucial measures: a short-term funding bill to extend government operations for three months, a $100 billion disaster relief package, and a $10 billion farm aid bill.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Government

Politics

Elon Musk Changes Tone, Applauds Speaker Johnson: 'It Went From A Bill That Weighed Pounds To One That Weighed Ounces'

On Friday, the House of Representatives approved a stopgap funding bill, just hours before a <a href="https://www.benzinga.com/24/12/42544562/congressional-leaders-reach-bipartisan-deal-to-avert-government-shutdown">potential government shutdown</a>.
What Happened: The legislation, which extends funding into mid-March and includes disaster relief, now moves to the Senate, <a href="https://www.nytimes.com/live/2024/12/20/us/government-shutdown-trump-news">reported</a> the New York Times.
The bill passed with a vote of 366 to 34, with all &#8220;no&#8221; votes coming from Republicans, and one Democrat, Jasmine Crockett of Texas, voting present.
See Also: <a href="https://www.benzinga.com/24/12/42545204/marjorie-taylor-greene-pushes-to-sell-off-usps-amid-doge-momentum-we-need-to-privatize-ive-been-saying-it-for-years?itm_source=parsely-api">Marjorie Taylor Greene Pushes To Sell Off USPS Amid DOGE Momentum: &#8216;We Need To Privatize&#8230;I&#8217;ve Been Saying It For Years&#8217;</a>
The House removed a provision demanded by President-elect Donald Trump to suspend the federal debt limit, which had caused a Republican revolt on Thursday.
The Senate majority leader, Chuck Schumer (D-N.Y.), expressed confidence that the Senate would quickly pass the bill despite not including all Democratic priorities.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The House has overwhelmingly passed a bill to keep the government open and I'm confident the Senate will pass it as well. We hope to get it passed as soon as possible. Though this bill does not include everything Democrats fought for, there are major victories in this bill for…
&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1870263553271226399?ref_src=twsrc%5Etfw">December 21, 2024</a></blockquote>
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Why It Matters: The House&#8217;s decision followed a tumultuous week marked by Republican discord.
Speaker Mike Johnson (R-La.) had initially reached a bipartisan funding agreement with Democrats, but it was derailed by <a href="https://www.benzinga.com/general/social-media/24/12/42566558/house-republicans-reject-spending-bill-under-pressure-from-trump-musk-government-faces-shutdown">opposition from Trump</a> and Elon Musk.
To prevent a government shutdown set to begin at midnight on Friday, Republican leaders introduced a Plan C.
This approach involved holding separate votes on three key measures: a short-term funding bill to extend government operations for three months, a $100 billion disaster relief package, and a $10 billion bill for farm aid.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sounds promising <a href="https://t.co/aNaCj0Jnfi">https://t.co/aNaCj0Jnfi</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1870139884385538550?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
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The bill&#8217;s passage is crucial to prevent a funding lapse at 12:01 a.m. Saturday, ensuring the continued operation of federal agencies.
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<li><a href="https://www.benzinga.com/news/global/24/12/42559347/trump-administration-could-ban-amazons-top-selling-routers-linked-to-chinese-cyberattacks-report?itm_source=parsely-api">Trump Administration Could Ban Amazon&#8217;s Top-Selling Routers Linked To Chinese Cyberattacks: Report</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">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

House Passes Spending Bill To Avert Government Shutdown, Sidesteps Trump's Demand To Suspend Federal Debt Limit

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