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RIVERSTONE CR OPPS INCOME by RIVERSTONE CR OPPS INCOME PLC

<ul>
<li>AI infrastructure provider's first GPU cluster in the US will service customer workloads from early 2025</li>
<li>GPU cluster in Kansas City has potential capacity to house up to about 35 thousand GPUs after expansion</li>
<li>Nebius's new customer hubs in San Francisco and Dallas have been operational since September; third office in New York coming by year-end</li>
</ul>

News

NBIS

Nebius Expands AI Infrastructure In the U.S. With Kansas City GPU Cluster And Three New Offices

Truist Securities analyst Bertrand Donnes maintains BKV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKV#NYSE">BKV</a>) with a Buy and raises the price target from $24 to $25.

Price Target

Analyst Ratings

Truist Securities Maintains Buy on BKV, Raises Price Target to $25

CME Group To Launch Mortgage Rate Futures In Jan. 2025, Pending Regulatory Review

WIIM

ACRS

Aclaris Therapeutics shares are trading higher after Piper Sandler upgraded the stock from Neutral to Overweight and raised its price target from $3 to $13. Also, BTIG upgraded the stock from Neutral to Buy and announced a price target of $8.

Truist Securities analyst William Stein maintains NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and raises the price target from $148 to $167.

NVDA

Truist Securities Maintains Buy on NVIDIA, Raises Price Target to $167

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has secured up to $6.6 billion in subsidies from the U.S. Department of Commerce under the CHIPS Incentives Program.
The funding is contingent upon the contract chipmaker&#8217;s commitment to producing semiconductors using its cutting-edge A16 process technology at its Arizona facilities, the Taipei Times <a target="_blank" href="https://www.taipeitimes.com/News/front/archives/2024/11/19/2003827127" rel="noreferrer noopener">cites</a> the department.
Taiwan Semiconductor&#8217;s Chair, C.C. Wei, told the Taipei Times that the agreement with the U.S. would accelerate the development of the company&#8217;s most advanced semiconductor manufacturing capabilities within the country.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42044510/warner-bros-stock-jumps-after-securing-11-year-nba-deal-extension" rel="noreferrer noopener">Warner Bros. Secures 11-Year NBA Deal Extension</a>
Taiwan Semiconductor is constructing two advanced semiconductor fabs in Arizona. The first will likely start mass production of 4nm chips in early 2024, while the second will produce 3nm and 2nm chips by 2028.
The company also announced plans to establish a third fab in the state by 2030, using its A16 technology or a more advanced process, increasing its total investment in Arizona to over $65 billion.
Previously, Taiwan Semiconductor announced that its &#8220;A16&#8221; chip manufacturing technology will likely begin production in the latter half of 2026.
The advanced <a target="_blank" href="https://www.benzinga.com/news/24/04/38429949/taiwan-semi-sets-2026-launch-for-a16-chip-technology-aiming-to-outpace-intel-in-speed" rel="noreferrer noopener">1.6-nm chipmaking technology</a> will likely bolster Taiwan Semiconductor&#8217;s competitive position against Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
The A16 process builds on Taiwan Semiconductor&#8217;s 2nm technology and utilizes an innovative &#8220;super power rail&#8221; for enhanced logic density and performance.
According to the report, this next-generation nanosheet-based technology is tailored for high-performance computing and artificial intelligence applications. Analysts predict growing demand for A16 chips as the AI boom continues.
In addition to direct funding, the U.S. government has proposed up to $5 billion in loans to support Taiwan Semiconductor&#8217;s Arizona expansion. These funds are part of the $75 billion authorized under the CHIPS and Science Act.
Prior reports indicated Taiwan Semiconductor is producing Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) A16 system-on-chip (SoC) at Phase 1 of its <a target="_blank" href="https://www.benzinga.com/news/24/09/40920976/taiwan-semiconductor-begins-production-of-apple-a16-smartphone-chips-at-arizona-facility-report" rel="noreferrer noopener">Fab 21 facility in Arizona</a>.
The A16 chip, built using Taiwan Semiconductor&#8217;s 5nm N4 process, was first introduced with the iPhone 14 Pro in 2022.
In 2024, Taiwan Semiconductor&#8217;s board approved a new investment of up to $7.5 billion to expand operations at its Arizona facility. According to Tim Culpan, Taiwan Semiconductor plans to scale up production volumes after completing the second stage of the Phase 1 fab.
Taiwan Semiconductor stock surged 85% year-to-date.
Taiwan Semiconductor&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/10/41388050/apples-3nm-push-boosts-taiwan-semis-q3-ai-revenue-set-to-triple-analyst" rel="noreferrer noopener">third-quarter results</a> highlighted robust 3nm performance, fueled primarily by Apple, while 5nm showed steady leveling, Needham analyst Charles Shi said.
It reported <a target="_blank" href="https://www.benzinga.com/news/24/10/41388050/apples-3nm-push-boosts-taiwan-semis-q3-ai-revenue-set-to-triple-analyst" rel="noreferrer noopener">third-quarter revenue</a> of $23.50 billion, up 39%, beating the $22.4 billion-$23.2 billion guidance and the consensus estimate.
The analyst praised Taiwan Semiconductor&#8217;s gross margin improvement to 57.8%, overcoming earlier cost concerns linked to 3nm and electricity increases.
The contract chipmaker expects AI revenue to triple in 2024, hitting $13 billion, and projects AI to comprise 20% of total revenue by 2028. It anticipates a 2024 CapEx of $30 billion, with fourth-quarter spending likely surging to $12 billion, partly for the initial 2nm buildout.
Price Action: TSM stock closed higher by 1.24% at $189.80 premarket at the last check on Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42043480/alibabas-monetization-strategy-gains-momentum-but-gmv-growth-lags-analyst" target="_blank" rel="noreferrer noopener">Alibaba&#8217;s Monetization Strategy Gains Momentum, But GMV Growth Lags: Analyst</a></li>
</ul>
Image via Shutterstock

Emerging Markets

Tech

Media

AAPL

INTC

Taiwan Semiconductor's US Subsidy Boosts 'A16' Tech Production in Arizona

Jim Cramer, the host of &#8220;Mad Money,&#8221; has offered his perspective on the current state of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) as its stock faces a decline amid a rising Nasdaq index.
What Happened: Cramer stressed the importance of holding onto Apple shares rather than engaging in frequent trading, CNBC <a href="https://www.cnbc.com/2024/11/18/cramers-lightning-round-eli-lilly-is-a-buy.html">reported</a> on Tuesday.
Cramer advised investors to wait for a dip in Apple&#8217;s stock price, pointing out the prevailing bearish sentiment. He remarked, &#8220;The bears are all over it every minute of the day,&#8221; urging caution before making any investment decisions.
His comments come at a time when Apple shares are under pressure despite the Nasdaq index, known for its tech-heavy composition, experiencing gains.
As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Apple stock has dropped by 3.58% in the past month while the past five days have been slightly better with an increase of 1.48%, as of Tuesday. Meanwhile, the Nasdaq Composite has increased by 1.36% in the past month but dropped 2.58% in the past five days.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42028523/cathie-wood-draws-reagan-era-parallels-as-elon-musk-takes-doge-helm-this-bull-market-has-just-begun-to-broaden-out?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood Draws Reagan-Era Parallels As Elon Musk Takes DOGE Helm: &#8216;This Bull Market Has Just Begun To Broaden Out&#8217;</a>
Why It Matters: Cramer&#8217;s recent comments follow his earlier warning that Apple&#8217;s stock &#8220;should never have been up that much&#8221; after the company&#8217;s Q3 earnings report. This cautionary note came after Apple issued a lowered financial forecast, which Cramer suggested had been absorbed by the market, bringing expectations to a more reasonable level. Despite this, Dan Ives defended <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41678522/jim-cramer-warns-apple-stock-should-have-never-been-up-that-much-after-q3-earnings-">Apple&#8217;s strong iPhone 16 launch,</a> indicating mixed sentiments around the company&#8217;s performance.
Additionally, a recent surge in options activity for Apple has been observed, with<a href="https://www.benzinga.com/insights/options/24/11/42039187/spotlight-on-apple-analyzing-the-surge-in-options-activity"> investors taking a bullish stance</a> on the stock. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42030200/bitcoin-dominance-decline-expected-next-month-analyst-projects-altseason-to-peak-by-march-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Dominance Decline Expected Next Month, Analyst Projects &#8216;Altseason&#8217; To Peak By March 2025</a></li>
</ul>
Image via Shutterstock

Analyst Color

Equities

Markets

General

Jim Cramer Weighs In As Apple Slips While Nasdaq Climbs: 'I Would Wait For A Dip Because The Bears Are All Over It…"

TRNR

Interactive Strength shares are trading higher after the company announced its CLMBR vertical climbing machines are being installed in three locations by Armah Sports Group in Saudi Arabia.

ELBM

Electra Secures 10-Year Exploration Permit For Idaho Cobalt Belt Projects

Truist Securities analyst Joseph Civello downgrades Academy Sports (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASO#NASDAQ">ASO</a>) from Buy to Hold and lowers the price target from $63 to $50.

Downgrades

Truist Securities Downgrades Academy Sports to Hold, Lowers Price Target to $50

PRFX

PainPerform shares are trading higher. The company announced a 1-for-4 reverse stock split.

FINV

FinVolution Group shares are trading higher after the company reported a year-over-year increase in Q3 financial results.

State Street Partners With Bridgewater To Broaden Access To Alternative Investment Strategies

SNGX

Soligenix Reveals Formation Of European Medical Advisory Board To Provide Additional Medical/Clinical Strategic Guidance; Phase 3 Clinical Study Of HyBryte In CTCL Initiating In 2024

Leveraging established platforms like Coinbase, Thumzup will seamlessly integrate Bitcoin payments into its existing payout system. This provides members of its ASP greater financial flexibility and control over their earnings.
 &nbsp;

TZUP

Thumzup Plans To Soon Offer Payments In Bitcoin To Its Gig Economy Workforce Through Its Recently Launched Account Specialist Program

ESLT

Elbit Systems shares are trading higher after the company reported better-than-expected Q3 financial results.

Covering 91 designated drill pad locations and hundreds of potential drill targets, this long-term permit enhances project certainty, offers greater planning flexibility, and significantly reduces administrative requirements compared to annual permits.

Electra Secures 10-year Exploration Permit For Its Idaho Copper And Cobalt Properties, Including Its Iron Creek Project

SCPX

Scorpius  Introduces Scorpius Ventures To Advance U.S. Biotech Innovation With Adaptive Equity-Based Onshoring Model

TCOM

Trip.com Group shares are trading higher after the company reported better-than-expected Q3 financial results.

These acquisitions have the potential to dramatically increase company revenue and will underpin its Drone-as-a-Service (DaaS) business by integrating ZenaDrone's drone technology into the target company operations.

ZENA

ZenaTech Plans To Pursue Series Of Acquisitions To Launch Its Drone-As-A-Service  Operations

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