Latest news for Simply Better Brands (OTC:SBBCF) Stock

Simply Better Brands Corp is an international omni-channel platform with diversified assets in the plant-based and holistic wellness consumer product categories. The company focuses on innovation in the plant-based, natural, and clean ingredient space. It also focuses on expansion into consumer product categories including CBD products, plant-based food and beverage, and the pet care and skin care industries. It operates in one reportable segment being the sale of consumer health and wellness products with sales principally generated from the United States.

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Simply Better Brands Corp. (TSXV: SBBC) (OTCQB: SBBCF) announced on Monday its interim financial results for the second quarter ended June 30, 2024. Revenue totaled $7 million, down from $8.4 million in the second quarter of fiscal 2023. The company attributed a 17% year-over-year decline to a decrease in revenue in the CBD segment.

Simply Better&#39;s Q2 Gross Profit Increases 83% YoY, Revenue Down 17% As CBD Segment Dips

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SBBC&#39;s Q3 2023 sees a 45% revenue spike to $19.4M, with major growth in wellness brands like TRUBAR and PureKana.

Simply Better Brands Lives Up To Its Name With Big Q3 Dive Into Growth Drivers

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Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg revealed ambitious plans for Llama 4, the company&#8217;s next-generation open-source artificial intelligence model, during Meta&#8217;s <a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">fourth-quarter earnings</a> call on Tuesday. The announcement comes as tech giants race to develop more sophisticated AI agents capable of performing complex tasks.
What Happened: &#8220;Llama 4 will be natively multimodal &#8212; it&#8217;s an omni-model and will have agentic capabilities, so it&#8217;s going to be novel and it&#8217;s going to unlock a lot of new use cases,&#8221; Zuckerberg said during the call. The announcement follows OpenAI&#8217;s recent launch of its &#8220;Operator&#8221; AI agent, highlighting the industry&#8217;s shift toward <a href="https://www.benzinga.com/25/01/43186741/openai-debuts-operator-ai-agent-that-performs-web-tasks-but-early-error-has-sam-altman-scrambling-for-a-quick-fix">more autonomous AI systems</a>.
Zuckerberg expressed confidence that 2025 could be the year when Llama and open source become &#8220;the most advanced and widely used AI models.&#8221; He noted that Llama 4 mini has completed pre-training, while the reasoning models and larger versions are showing promising progress.
Meta&#8217;s push into agentic AI comes amid significant infrastructure investments, with the company planning a new 2-gigawatt AI data center. The facility, which Zuckerberg said would &#8220;cover a significant part of Manhattan,&#8221; underscores Meta&#8217;s commitment to advancing AI capabilities.
See Also: <a href="https://www.benzinga.com/markets/25/01/43325490/trump-slams-feds-terrible-job-on-bank-regulation-after-rate-hold-vows-to-unleash-lending-for-all-american-people">Trump Slams Fed&#8217;s &#8216;Terrible Job&#8217; On Bank Regulation After Rate Hold, Vows To &#8216;Unleash Lending For All American People&#8217;</a>
Why It Matters: The company&#8217;s current AI efforts are already showing traction, with Meta AI reaching 700 million monthly active users. Meta <a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">reported strong fourth-quarter results</a> with revenue up 21% year-over-year to $48.4 billion, suggesting robust financial backing for its AI initiatives.
Zuckerberg emphasized the strategic importance of maintaining an American-led open-source AI standard, particularly in light of emerging competition from <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43304027/deepseek-selloff-is-a-correction-not-start-of-sustained-bear-market-goldman-sachs">Chinese AI companies</a> like DeepSeek. Meta plans to detail more of its Llama 4 strategy in the coming months. 
Price Action: Meta Platforms shares were up 2.29% in after-hours, trading at $692 on Wednesday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Mark Zuckerberg Says Meta's Llama 4 To Feature 'Agentic Capabilities,' Unlocking New Use Cases: It Will Become One The Most 'Widely Used' AI Models

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella has acknowledged the significant AI advancements made by China's DeepSeek. However, he did not confirm whether these innovations would lead to reduced AI costs.
What Happened: During the company's <a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details">second-quarter earnings</a> call, Nadella responded to analyst Brent Thill&#8217;s inquiry about AI scaling and cost reduction.
He compared AI developments to the regular compute cycle, underscoring the role of Moore&#8217;s Law and AI scaling laws in driving software optimizations, which have led to a tenfold improvement per cycle.
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments" target="_blank" rel="noreferrer noopener">Mark Zuckerberg's Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: ‘A Big Year For Redefining Our Relationships With Governments'</a>
&#8220;I think DeepSeek has had some real innovations. And that is some of the things that even OpenAI found in &#8216;o1,&#8221; he stated, adding, &#8220;All gets commoditized and it&#8217;s going to get broadly used.&#8221;
He said that these software cycles benefit customers, as falling token and inference computing prices allow for increased consumption and more app development.
The CEO also pointed out the potential for running powerful AI models on PCs, which previously required substantial cloud infrastructure.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: DeepSeek has said that it <a href="https://www.benzinga.com/25/01/43302340/deepseeks-ai-breakthrough-microsoft-poised-to-benefit-but-oracle-faces-cloud-growth-challenges">created its low-cost R1 model</a> in only two months with a $5.6 million investment using less-powerful Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
However, OpenAI has alleged that DeepSeek used its<a href="https://www.benzinga.com/25/01/43296041/openai-alleges-deepseek-used-proprietary-models-without-permission-as-microsoft-investigates-ai-security-risks"> proprietary models without permission</a>, raising concerns over intellectual property protection.
DeepSeek's $5.6 million investment number has also come under scrutiny. Wedbush analyst Dan Ives <a href="https://www.benzinga.com/tech/25/01/43296460/dan-ives-says-chinese-startup-deepseeks-6-million-ai-development-assertion-is-likely-a-fictional-story">called it "a fictional story."</a>
Microsoft&#8217;s quarterly revenue reached $69.6 billion, surpassing the analyst consensus estimate of $68.78 billion, but cloud revenue missed expectations, causing a slide in Microsoft shares.
Price Action: Microsoft stock dropped 4.63% in after-hours trading, settling at $421.85. During Wednesday&#8217;s regular trading hours, it closed at $442.33, reflecting a 1.09% decline, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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>.
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Disclaimer:&nbsp;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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Microsoft CEO Satya Nadella Accepts DeepSeek AI Has Some 'Real Innovations' — But Won't Say If They Mark A Turning Point For AI Cost Reduction

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) revealed transformative momentum in its artificial intelligence business, announcing a $13 billion annual AI revenue run rate alongside a major Azure commitment from OpenAI that propelled commercial bookings to unprecedented <a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details">levels in the second quarter</a>.
What Happened: CFO Amy Hood during the Wednesday earnings call noted that while the OpenAI commitment significantly boosted second-quarter bookings, it represents just the &#8220;first tranche&#8221; of future growth potential. 
The partnership exemplifies Microsoft&#8217;s broader AI strategy, with Hood highlighting that over half of their cloud and AI-related spending targets long-lived assets supporting customer growth over the next 15 years.
The tech giant reported a 175% year-over-year surge in AI revenue, while commercial bookings jumped 67% (75% in constant currency), driven by OpenAI&#8217;s expanded Azure commitment. 
This strategic partnership helped push Microsoft&#8217;s commercial remaining performance obligation to $298 billion, with quarterly cloud revenue exceeding $40 billion for <a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details">the first time</a>.
See Also: <a href="https://www.benzinga.com/25/01/43325888/tesla-likely-to-sell-optimus-to-rival-companies-in-2026-price-point-of-humanoid-robot-to-be-detemined-by-demand-says-ceo-elon-musk">Tesla Likely To Sell Optimus To Rivals In 2026, Elon Musk Says Revenue Potential Of Bot North Of $10 Trillion: &#8216;It&#8217;s Real Bananas&#8217;</a>
Why It Matters: &#8220;Enterprises are beginning to move from proof of concepts to enterprisewide deployments to unlock the full ROI of AI,&#8221; said CEO Satya Nadella. He emphasized that OpenAI&#8217;s APIs exclusively running on Azure gives customers confidence in accessing leading AI models.
Despite this AI momentum, Microsoft faced some headwinds in Azure&#8217;s non-AI services due to execution challenges in their scale motions. However, the company&#8217;s overall performance remained robust with total revenue of $69.6 billion, up 12% year-over-year.
Looking ahead, Microsoft expects to align AI capacity with demand by fiscal year-end 2025, supported by $22.6 billion in quarterly capital expenditures. The company projects continued double-digit revenue growth as enterprise AI adoption accelerates beyond initial testing phases.
Price Action: Microsoft shares are down 4.63% after-hours at $421.85 on Wednesday, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.  
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<li><a href="https://www.benzinga.com/markets/25/01/43325490/trump-slams-feds-terrible-job-on-bank-regulation-after-rate-hold-vows-to-unleash-lending-for-all-american-people">Trump Slams Fed&#8217;s &#8216;Terrible Job&#8217; On Bank Regulation After Rate Hold, Vows To &#8216;Unleash Lending For All American People&#8217;</a></li>
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Microsoft's $13 Billion Run Rate And OpenAI Azure Deal Spark Surge In Enterprise Demand For AI Solutions: Just 'First Tranche' Of Future Growth Potential

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk said on Wednesday that the company will likely have to update hardware for customers whose vehicles are equipped with an older version of the AI hardware called Hardware 3, for it to achieve fully unsupervised autonomous driving with full self-driving (FSD) driver assistance software.
What Happened: &#8220;I think the honest answer is that we&#8217;re going to have to upgrade people&#8217;s Hardware 3 computer for those that have bought full self-driving, and that is the honest answer and that&#8217;s going to be painful and difficult but we&#8217;ll get it done,&#8221; Musk said in response to investor questions on its fourth-quarter earnings call on Wednesday.
&#8220;Now, I&#8217;m kind of glad that not that many people bought the FSD pack,&#8221; Musk laughed.
Another Tesla executive, however, said that the company has not yet given up Hardware 3 yet.
Recent versions of Tesla&#8217;s FSD were rolled out to vehicles with hardware 4 first and hardware 3 vehicles later, raising doubts about the capacity of hardware 3 to support unsupervised versions of the software. 
Why It Matters: Musk himself said during Tesla&#8217;s third-quarter earnings call in October that the company is unsure of hardware 3&#8217;s capability for fully autonomous driving.
&#8220;Hardware 4 has really several times the capability of Hardware 3. It&#8217;s easier to get things to work with. Then it takes a lot of effort to sort of squeeze that functionality into Hardware 3,&#8221; Musk then said while adding that there is a likelihood that Hardware 3 does not achieve the safety level that allows for unsupervised FSD. 
Musk added that the company will upgrade the hardware for those who bought FSD on hardware 3 vehicles, in that case, free of cost to customers.
&#8220;And we have designed the system to be upgradeable so it&#8217;s really just to sort of switch out the computer thing; the cameras are capable,&#8221; Musk then said.
A free upgrade will allow buyers to retain value for the $8000 they spent to purchase FSD capability instead of making a new vehicle purchase. However, the effort might cost the company. 
Financial Results: For the fourth quarter, Tesla reported operating expenses of $2.60 billion, marking an increase of 9% year-on-year. The company also warned that it expects operating expenses to increase in 2025 as it seeks to support its &#8220;growth initiatives.&#8221;
For the entirety of 2024, the company reported a capital expenditure of $11.34 billion, up from $8.9 billion in 2023. 
<a href="https://www.benzinga.com/25/01/43325888/tesla-likely-to-sell-optimus-to-rival-companies-in-2026-price-point-of-humanoid-robot-to-be-detemined-by-demand-says-ceo-elon-musk">Tesla on Wednesday</a> reported fourth-quarter revenue and earnings <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">below estimates</a> as it resorted to cheap financing and discounts to drive vehicle deliveries in the three months. 
The stock, however, rose <a href="https://www.benzinga.com/tech/25/01/43326143/tesla-stock-rises-5-after-hours-on-fsd-and-new-vehicle-promises-despite-q4-revenue-miss">as much as 5%</a> after-hours on the company&#8217;s promises of launching new models in the first half of the year, in addition to other promises regarding the deployment of autonomous vehicles.
Image via Shutterstock
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>
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TSLA

Elon Musk Is 'Kind Of Glad' Many Didn't Pick Up A Tesla FSD Subscription: Here's Why

Platforms selling President Donald Trump-branded merchandise have started to accept his multibillion-dollar-valued meme coin as payment.
What happened: Websites that offer a range of Trump products, including watches, sneakers, and perfumes, are letting customers use the "Solana Pay" option during checkout to pay for the items in Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>).
At last check, the meme coin payment option was available for GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com. The official retail website of the Trump Organization, TrumpStore.com, however, was yet to open up this facility.
Last week, blockchain-based travel booking platform Travala.com also <a href="https://x.com/travalacom/status/1881920700614922240">enabled </a>payments in the memecoin.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43294972/robinhood-ceo-vlad-tenev-pushes-for-tokenization-to-unlock-private-companies-like-spacex-and-openai-for-more-investors">Robinhood CEO Vlad Tenev Pushes For Tokenization To Unlock Private Companies Like SpaceX And OpenAI For More Investors</a>
Why It Matters: These real-world use cases come amid the dramatic ebbs and flows the meme coin has encountered since its launch a couple of weeks ago.
TRUMP <a href="https://www.benzinga.com/25/01/43257114/donald-and-melania-trump-memecoins-defy-market-lull-with-rallyanalyst-says-trump-bottomed-out-at-25">reached a fully diluted valuation</a> of roughly $75 billion shortly after its debut but has since plummeted over 63%.
Entities affiliated with The Trump Organization control 80% of the coin's supply, fueling speculation that the president is personally profiting from the market moves.
When Trump was asked about the &#8220;several billion dollars&#8221; the meme coin has raked in, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43118779/trump-memecoin-regains-momentum-rallies-22-as-the-president-calls-billions-earned-through-the-venture-as-peanuts">he deemed them</a> "peanuts."
Price Action: At the time of writing, TRUMP was exchanging hands at $28.11, up 3.22% 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>.
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TRUMP Coin Can Buy You Donald Trump-Themed Watches And Sneakers: Here's How

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg has addressed the impact of Chinese startup DeepSeek&#8217;s impact during the company's <a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">fourth-quarter earnings</a> call.
What Happened: During the call, Zuckerberg acknowledged that DeepSeek&#8217;s novel approaches are still being evaluated by Meta. He said that the tech industry often learns from new advancements, regardless of their origin.
&#8220;I think there's a number of novel things that they did that I think we're still digesting,&#8221; he stated.
See Also: <a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments">Mark Zuckerberg&#8217;s Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: &#8216;A Big Year For Redefining Our Relationships With Governments&#8217;</a>
However, Zuckerberg said, it is too early to predict how these developments will affect the use of infrastructure and capital spending. He said trends are shifting toward using more computing power for running models after they're trained (inference), rather than just training them.
&#8220;I continue to think that investing very heavily in CapEx and infra is going to be a strategic advantage over time. It&#8217;s possible that we&#8217;ll learn otherwise at some point, but I just think it&#8217;s way too early to call that,&#8221; the CEO stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: DeepSeek has said that it <a href="https://www.benzinga.com/tech/25/01/43296460/dan-ives-says-chinese-startup-deepseeks-6-million-ai-development-assertion-is-likely-a-fictional-story">developed its low-cost</a> R1 model in just two months with a $5.6 million investment, raising questions about the cost-effectiveness of AI development.
This announcement has led to market concerns as the Chinese platform showcases its <a href="https://www.benzinga.com/tech/25/01/43302711/nvidia-hardest-hit-among-mag-7-stocks-by-deepseek-and-this-stock-ranked-second">potential to challenge U.S.</a> AI heavyweights like OpenAI, Meta, and Alphabet.
This development has also sparked concerns about the need for large-scale GPU investments, resulting in Nvidia Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock falling 17% on Monday, <a href="https://www.benzinga.com/markets/equities/25/01/43256425/nvidia-says-deepseek-an-illustration-of-how-new-ai-models-can-be-created-while-being-export-control-compliant-amid-600-billion-market-value-plunge">erasing around $600 billion</a> from its market value.
At the same time, the <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43244872/tech-stocks-tumble-on-ai-nightmare-nvidia-eyes-worst-day-since-march-2020-bitcoin-drops-below-100000-whats-driving-markets-monday">Nasdaq 100 dropped over 3%</a>, its largest decline since Dec. 18.
Meta projects its total expenses for 2025 to range between $114 billion and $119 billion. The company also expects capital expenditures for the year to be between $60 billion and $65 billion, primarily due to investments in generative AI and its core operations.
In the fourth-quarter Meta showed a strong performance, with revenue of $48.39 billion, surpassing analyst estimates of $47.03 billion.
Price Action: Meta&#8217;s stock saw a significant 2.29% increase in after-hours trading, reaching $692. During regular hours on Wednesday, it closed at $676.49, marking a 0.32% gain, as per <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>.
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Disclaimer:&nbsp;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.

Mark Zuckerberg Says China's DeepSeek Did Some Novel Things 'We're Still Digesting,' But Meta May Keep Pouring Billions Into AI Infrastructure Anyway

Former Senator Bob Menendez was handed an 11-year prison term for accepting bribes, including gold bars, and foreign agent offenses, in return for political favors on Wednesday.
What Happened: U.S. District Judge Sidney Stein pronounced the sentence, following the former democratic senator&#8217;s conviction in July 2024 after a nine-week jury trial, according to a press release shared by the Department of Justice.
Aside from Menendez, the court sentenced businessmen Wael Hana and Fred Diabies to 97 months and seven years in jail, respectively, for bribing the former lawmaker.
Menendez and his wife,&nbsp;Nadine Menendez,&nbsp;accepted hundreds of thousands of dollars worth of bribes from Hana and Diablies in the form of gold, cash, and a luxury convertible, the indictment read.
In exchange for these, the erstwhile New Jersey senator used his power and influence to endeavor to protect their business interests and took actions that benefited the government of Egypt.
Charges against Nadine Menendez are still pending. Her corruption trial is set for Mar. 18.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43294972/robinhood-ceo-vlad-tenev-pushes-for-tokenization-to-unlock-private-companies-like-spacex-and-openai-for-more-investors">Robinhood CEO Vlad Tenev Pushes For Tokenization To Unlock Private Companies Like SpaceX And OpenAI For More Investors</a>
Why It Matters: Menendez, who chaired the United States Senate Committee on Foreign Relations, resigned from the Senate in August. 
Interestingly, Menendez was a vocal critic of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), deeming it an &#8220;ideal choice for criminals&#8221; in a letter to the Financial Crimes Enforcement Network.
Menendez had also <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37529921/nayib-bukele-cant-help-laughing-as-bitcoin-critic-who-slammed-adoption-in-el-salvador-gets">co-sponsored legislation to mitigate the risks of El Salvador's adoption of Bitcoin</a>. He infamously said, &#8220;Bitcoin can open the doors of corruption in El Salvador.&#8221;
El Salvador President Nayib Bukele reacted to Menendez&#8217;s conviction, writing, &#8220;The thief judges by his condition" in an X post. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Este senador fue el gran referente de la oposición (portadas, reportajes, etc.) cuando acusó a El Salvador de usar Bitcoin para el lavado de dinero y corrupción. "El ladrón juzga por su condición". <a href="https://t.co/R5El6BDY1p">https://t.co/R5El6BDY1p</a>
&mdash; Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1884757954055770427?ref_src=twsrc%5Etfw">January 30, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by lev radin on Shutterstock
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$BTC

Former Senator Bob Menendez Who Said 'Bitcoin Will Open Doors Of Corruption In El Salvador' Gets 11-Year Jail Term For Accepting Bribes

A PSA Airlines Bombardier CRJ700 regional jet collided in midair with a Sikorsky H-60 helicopter while it was nearing the runway at Reagan Washington National Airport (DCA) around 9 p.m. local time, The Federal Aviation Administration said on Wednesday, placing a pause on all takeoffs and landings from the airport. 
What Happened: The plane fell in the Potomac River near the airport after the crash, Washington DC&#8217;s Fire and Emergency Department said. Fireboats are on the scene, the department said, while adding that it will work together with the police department in a search and rescue operation.
There is no confirmed information on casualties at the time, the police department said. The Department also clarified that its helicopter was not involved in the incident and is currently assisting the rescue operations. 
The FAA said that PSA was operating Flight 5342 for American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), and it had departed from Wichita, Kansas. The National Transportation Safety Board will lead the investigation into the accident, the agency added.
&#8220;All takeoffs and landings have been halted at DCA. Emergency personnel are responding to an aircraft incident on the airfield,&#8221; the airport said in a statement. 
American Airlines said that it aware of the accident and will provide more information as it becomes available.
The airline also confirmed that there were 60 passengers and four crew members on board the aircraft.
Image Via Shutterstock
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>
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</ul>

Takeoffs, Landings Halted At Reagan Washington National Airport After Jet Falls In Potomac River

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock rose as much as 5% after hours over the company&#8217;s promises of launching new and &#8220;<a href="https://www.benzinga.com/markets/equities/25/01/43293219/teslas-30k-ev-risks-being-a-nothing-burger-says-gary-black-warns-of-cannibalization-without-a-new-compact-design">more affordable</a>&#8221; models in the first half of 2025, in addition to other promises regarding the deployment of autonomous vehicles and licensing of the company&#8217;s full self-driving (FSD) driver assistance software to rivals.
Licensing FSD: CEO Elon Musk said on Wednesday that it is in conversation with other automakers regarding licensing FSD. However, the company is only entertaining conversations where the deployment volume will be high, the CEO said. 
The CEO also said that the company will not burden its engineering workforce with sharing the tech with another carmaker. The engineering team would instead focus on making the technology fully unsupervised, Musk said while adding that interest from rivals will likely surge once the technology can enable driverless driving.
Autonomous Ride-Hail Fleet Testing In Texas: The CEO also said that the company will start testing autonomous ride-hailing service in Texas in June with vehicles deployed with FSD. However, Musk has previously <a href="https://www.benzinga.com/news/24/08/40499576/tesla-delays-elon-musks-timeline-yet-again-for-cybertruck-fsd-rollout-this-time-to-september">provided timelines</a> for Tesla products that the company did not deliver. As far back as 2019, Musk said that he was confident about Tesla having operational robotaxis by 2020.
Musk also said on Wednesday that the company is looking to launch unsupervised FSD in California before the end of the year, while also expressing optimism for it being deployed in other regions. 
FSD, as of date, requires active driver supervision.
Why It Matters: Tesla reported revenue, earnings per share, and gross profit margin for the fourth quarter that were <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">below expectations </a>on Wednesday. 
However, the stock rose as much as 5% after-hours after Tesla said that the company is looking to start production of new models, including more affordable ones, in the first half of this year. Musk&#8217;s promises on FSD improvements this year also aided the rally. 
Tesla stock has seen a jump since the election of Donald Trump as President in November. Trump and Musk recently forged a strong relationship with the billionaire supporting and funding the former&#8217;s election campaign. 
The stock has more than doubled over the past year as of Wednesday&#8217;s closing share price of $389.10, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Image via Shutterstock
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Tesla Stock Rises 5% After-Hours On FSD And New Vehicle Promises Despite Q4 Revenue Miss

The stock market ended Wednesday in the red, with the Nasdaq Composite falling over 100 points, closing at 19,632.32, down 0.5%. Meanwhile, the S&amp;P 500 also saw a decline, dropping nearly 0.5% to finish at 6,039.31. The Dow Jones Industrial Average dropped 0.3%, to end the day at 44,713.52. The Federal Reserve <a href="https://www.benzinga.com/25/01/43316048/fed-holds-interest-rates-steady-halts-streak-of-consecutive-cuts-as-inflation-remains-elevated">voted to keep interest rates unchanged</a>, breaking away from a pattern of three consecutive rate cuts that began in September. The rate remains in a target range of 4.25% to 4.5%.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Tesla Inc.
Tesla&#8217;s stock fell by 2.26%, closing at $389.10 but gained more than 4% in the after-hours session. The stock reached an intraday high of $398.59 and a low of $384.48. Over the past 52 weeks, it has ranged from $138.80 to $488.54. The electric vehicle maker reported <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">fourth-quarter earnings</a> with revenue of $25.71 billion, which missed the consensus estimate of $27.26 billion.
Meta Platforms Inc.
Meta&#8217;s stock saw a slight increase of 0.32%, closing at $676.49. The stock&#8217;s intraday high was $681.05, with a low of $665.67. Its 52-week range is $387.10 to $682.53. Meta reported&nbsp;<a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">fourth-quarter results</a>&nbsp;with revenue of $48.39 billion, surpassing analyst expectations of $47.03 billion.
Microsoft Corp.
Microsoft shares declined by 1.09%, closing at $442.33. The stock hit an intraday high of $446.88 and a low of $440.40. Its 52-week high and low are $468.35 and $385.58, respectively. The company reported&nbsp;<a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details">second-quarter earnings</a>&nbsp;with revenue of $69.6 billion, exceeding the consensus estimate of $68.78 billion.
International Business Machines Corp.
IBM&#8217;s stock rose by 1.32%, closing at $228.63. The stock&#8217;s intraday high was $229.47, with a low of $223.73. Its 52-week range is $162.62 to $239.35. IBM reported&nbsp;<a href="https://www.benzinga.com/25/01/43321676/ibm-reports-q4">fourth-quarter earnings</a>&nbsp;with revenue of $17.55 billion, slightly above the analyst consensus of $17.54 billion.
NVIDIA Corporation
Nvidia&#8217;s stock dropped by 4.03%, closing at $123.79. The stock reached an intraday high of $126.89 and a low of $120.05. Its 52-week high and low are $153.13 and $60.70, respectively. The semiconductor giant was <a href="https://www.benzinga.com/tech/25/01/43302711/nvidia-hardest-hit-among-mag-7-stocks-by-deepseek-and-this-stock-ranked-second">hit hard</a> by news of DeepSeek, a Chinese AI, affecting its valuation significantly.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
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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>

Tesla, Meta, Microsoft, IBM, Nvidia: Why These 5 Stocks Are On Investors' Radars Today

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull Gary Black highlighted the company&#8217;s planned autonomous ride-hailing service in Austin as a significant development while expressing concerns about automotive margins and the forthcoming affordable electric vehicle&#8217;s design.
What Happened: Black, managing partner of The Future Fund LLC, called the planned June launch of paid autonomous ride-hailing in Austin &#8220;probably the most bullish thing&#8221; from Tesla&#8217;s <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">fourth-quarter earnings call</a>. 
However, he questioned the company&#8217;s low automotive gross margins of 13.6% excluding regulatory credits and sought clarity on the upcoming lower-priced vehicle&#8217;s design.
The comments came after Tesla reported fourth-quarter revenue of $25.71 billion, <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">missing analyst estimates</a> of $27.26 billion. Automotive revenue declined 8% year-over-year to $19.8 billion, though the company achieved its lowest-ever cost of goods sold per vehicle at under $35,000.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Paid autonomous ride hailing in Austin by June is probably the most bullish thing I've heard on the <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> call. Someone needs to ask: 1/ why auto gross margins ex-ZEV were so low (13.6%) and what's the outlook for FY'25; and 2/ What's the form factor of the new cheaper vehicle?…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1884747504614334825?ref_src=twsrc%5Etfw">January 29, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/earnings/25/01/43320124/microsoft-shares-slide-after-q2-results-cloud-revenue-misses-expectations-details">Microsoft Shares Slide After Q2 Results, Cloud Revenue Misses Expectations: Details</a>
What Happened: On Tuesday, Black said the importance of the new affordable vehicle&#8217;s form factor, warning that simply scaling down existing Models 3 or Y could <a href="https://www.benzinga.com/markets/equities/25/01/43293219/teslas-30k-ev-risks-being-a-nothing-burger-says-gary-black-warns-of-cannibalization-without-a-new-compact-design">cannibalize current sales</a>. &#8220;Much depends on whether the new $30,000-$35,000 Tesla vehicle extends Tesla&#8217;s TAM to the compact category, which represents 15% of global volume,&#8221; he wrote on X.
The automaker confirmed its plans for new vehicle production starting in the first half of 2025, though it cautioned that manufacturing on existing production lines would limit cost reduction potential. Tesla also announced plans for volume production of its Cybercab <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">robotaxi beginning in 2026</a>.
The earnings report comes as Tesla faces increased scrutiny following its first annual <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">delivery decline in 2024</a>, with 1.79 million vehicles delivered compared to 1.81 million in 2023. 
Price Action: Tesla stock is trading 4.15% higher in the after-hours session at $405.25. Its 52-week trading range is $138.80 to $488.54. Shares lost 2.3% to $389.10 in Wednesday's regular session, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43321077/bitcoin-flies-above-104000-after-powell-remarks-stocks-remain-stunned-by-ai-concerns">Bitcoin Flies Above $104,000 After Powell Remarks, Stocks Remain Stunned By AI Concerns</a></li>
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gary Black Calls Tesla's Austin Robotaxi Launch By June 'Most Bullish' Takeaway, But Wants Answers On Auto Margins And Next-Gen EV

Leading cryptocurrencies lifted on Wednesday, defying the stock market's decline as the Federal Reserve snapped its interest rate-cutting streak.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:15 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.61%</td>
<td>$104,300.32</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>+1.31%</td>
<td>$3,146.53</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>+1.83%</td>
<td>$0.3304</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin reclaimed the $104,000 mark, helped by bullish commentary from Fed Chair Jerome Powell.
Ethereum also registered gains, although it waited for a strong upward breach from $3,200.
The second-largest cryptocurrency has trailed Bitcoin thus far in 2025, recording year-to-date losses of 5.80% as opposed to the apex cryptocurrency's 11% gains.
At the press conference, Powell took a positive stance on cryptocurrencies, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43318325/a-different-powell-emerges-fed-chair-softens-hawkish-tone-on-interest-rates-bitcoin">praising the ongoing efforts</a> to provide a clear regulatory framework for the industry.
The rally resulted in $257.59 million in cryptocurrency liquidations in the last 24 hours, with the majority being downside bets.
Bitcoin's Open Interest rose by 2.58% in the last 24 hours, indicating an influx of fresh money into its futures market.
However, over 50% of Bitcoin traders took short positions on the asset, according to the Long/Short ratio, suggesting that the market could reverse.
The "Greed" sentiment softened from 72 to 76, according to the reading on the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:15 p.m. ET)</td>
</tr>
<tr>
<td>Onyxcoin (XCN)</td>
<td>+26.14%</td>
<td>$0.03458</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+20.64%</td>
<td>$0.9892</td>
</tr>
<tr>
<td>Jito (JTO)</td>
<td>+12.81%</td>
<td>$3.30</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.52 trillion, growing by 1.99% in the last 24 hours.
Stocks edged lower on Wednesday. The Dow Jones Industrial Average lost 136.83 points, or 0.31%, to close at 44,713.52. The S&amp;P 500 slid 0.47%, ending at 6,039.31, while the tech-heavy Nasdaq Composite dipped 0.51% to close at 19,632.32.
The slide <a href="https://www.benzinga.com/25/01/43316048/fed-holds-interest-rates-steady-halts-streak-of-consecutive-cuts-as-inflation-remains-elevated">came after the Fed kept interest rates unchanged</a>, pausing its monetary easing cycle that began in September.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Blockchain analytics firm Santiment weighed in on the cryptocurrency market's rebound and its divergence from stocks.
"They [cryptocurrencies and stocks] have been tightly correlated for much of the past 3 years now, but today is a good sign that cryptocurrencies aren&#8217;t entirely fluctuating as simply &#8216;high leveraged tech stocks&#8217;, as many skeptics have been claiming," the research firm said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4c8; Cryptocurrency has not (yet) been phased by Jerome Powell and the Fed&#39;s decision to halt interest rate cuts for the time being. Interest rates have been a sensitive topic for investors and traders of all sectors, particularly after they were aggressively cut in 2020 (as a… <a href="https://t.co/p49FjhLiKI">pic.twitter.com/p49FjhLiKI</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1884735462813614175?ref_src=twsrc%5Etfw">January 29, 2025</a></blockquote>
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</figure>
Influential cryptocurrency analyst and trader Ali Martinez sounded the alarm about the prospect of a major Ethereum downside.
"Ethereum MVRV has dropped below the 160-day MA once again. The last time this happened was on June 23, 2024, which led to a 40% price correction from $3,500 to $2,100," the analyst remarked.
MVRV, which stands for Market Value to Realized Value, is a ratio used to assess the value of a cryptocurrency by comparing its current market value to its realized value.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> MVRV has dropped below the 160-day MA once again. The last time this happened was on June 23, 2024, which led to a 40% price correction from $3,500 to $2,100. <a href="https://t.co/zbnqPqzr0D">pic.twitter.com/zbnqPqzr0D</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1884730743017918771?ref_src=twsrc%5Etfw">January 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Photo by Avi Rozen on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43270841/how-donald-trump-could-make-the-strategic-bitcoin-reserve-a-reality">How Donald Trump Could Make The Strategic Bitcoin Reserve A Reality</a></li>
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Movers

Trading Ideas

$DOGE

$ETH

Bitcoin, Ethereum, Dogecoin Rise, Defy Stocks Decline As Fed Leaves Rates Unchanged: Top Trader Sees Possible 40% Downside For This Large-Cap Crypto

A group of U.S. investors, with backing from YouTube star Jimmy Donaldson, also known as MrBeast, has amassed over $20 billion to bid for TikTok.
What Happened: The group, led by tech entrepreneur Jesse Tinsley, includes Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) CEO David Baszucki and Anchorage Digital CEO Nathan McCauley as investors, <a href="https://www.bloomberg.com/news/articles/2025-01-29/tiktok-bidders-to-offer-significantly-more-than-20-billion">reported</a> Bloomberg on Wednesday.
Tinsley told the publication that their offer is &#8220;significantly higher&#8221; than a competing $20 billion bid. He may have been referring to the <a href="https://www.benzinga.com/general/entertainment/25/01/42834240/kevin-oleary-joins-the-peoples-bid-for-tiktok-as-pending-ban-looms">Project Liberty bid</a> by former Los Angeles Dodgers owner Frank McCourt and &#8220;Shark Tank&#8221; star Kevin O'Leary.
See Also: <a href="https://www.benzinga.com/tech/25/01/43325058/mrbeasts-net-worth-hits-1-billion-but-in-2023-he-promised-to-give-away-all-his-money-what-drives-the-youtubers-philanthropy">MrBeast&#8217;s Net Worth Hits $1 Billion—But In 2023, He Promised To &#8216;Give Away&#8217; All His Money. What Drives The YouTuber&#8217;s Philanthropy?</a>
MrBeast is not solely committed to this bid. A spokesperson for the YouTuber told the publication Donaldson is in talks with several parties and plans to back the leading offer.
Despite the substantial offer, Tinsley said that they "have not heard back directly" from TikTok&#8217;s parent company, ByteDance, which has stated that TikTok&#8217;s U.S. business is not for sale.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Previously President Donald Trump said that Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has also been <a href="https://www.benzinga.com/25/01/43260646/microsoft-eyes-tiktok-us-deal-as-trump-confirms-acquisition-talks-are-underway">in talks to acquire TikTok&#8217;s U.S.</a> operations.
Trump has suggested that the U.S. government should hold a 50% stake in TikTok to ensure no Chinese involvement.
Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) co-founder and chairman Larry Ellison, along with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk, have also emerged as possible contenders for the TikTok deal, which could help the platform reach a $1 trillion valuation.
Wedbush analyst Dan Ives estimates the sale could range <a href="https://www.benzinga.com/general/social-media/25/01/43181940/elon-musk-or-larry-ellison-dan-ives-on-who-could-win-tiktoks-billion-dollar-soap-opera-someone-hand-picked-from-beijing-but-also-trumps-white-house">between $40 billion and $50 billion</a>.
Saudi Prince Alwaleed Bin Talal&#8217;s investment firm has also shown interest in <a href="https://www.benzinga.com/media/25/01/43124020/saudi-princes-investment-firm-reportedly-interested-in-investing-in-tiktok-if-elon-musk-offers-to-buy-it">investing in TikTok</a> if Musk or others make a purchase offer.
Image via Shutterstock
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>.
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Disclaimer:&nbsp;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.

Social Media

Media

ORCL

RBLX

MrBeast And Group Of Investors, Including Roblox CEO, Lock In Over $20 Billion For TikTok Takeover

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Wednesday said that the company intends to make several thousand units of its Optimus humanoid robot this year for deployment in its own factory which will inform the next version of the robot slated for launch next year and likely to be sold to rival companies. 
What Happened: Musk said on Wednesday that the company will make a few thousand Optimus robots this year which will do chores at the Tesla factory by the end of the year which employees do not like to do. These robots will inform the production of the next version of the robot which will be launched mid-next year and be likely sold to other companies, the CEO said, while adding that there is a lack of certainty on the exact timing.
&#8220;I think long-term Optimus has the potential to be north of $10 trillion in revenue. Like, it&#8217;s real bananas,&#8221; Musk said. Musk himself said that his revenue predictions sound &#8220;absolutely insane&#8221; but expressed optimism that they will prove to be accurate. &#8220;My prediction long term is that Optimus will be overwhelmingly the value of the company.&#8221;
Talking about the price of the humanoid robot, Musk said that the robot&#8217;s production cost will be below $20,000 once production touches a million units a year. However, the price of Optimus will be set by market demand, Musk said, while also stating that he expects demand will not be a problem even at a high price. 
Why It Matters: In November, Musk said that Optimus is already doing some tasks at the Tesla factory and its ability is increasing rapidly, 
&#8220;The toughest part by far is improving the design of Optimus for ease of manufacturing and tooling up a complex supply chain, so it can be made in significant numbers,&#8221; Musk then said. 
During Tesla's annual shareholder meeting in June, Musk said that there will be at least&nbsp;<a href="https://www.benzinga.com/news/24/06/39246781/elon-musk-thinks-humanoid-robots-will-one-day-exceed-human-population-from-nvidias-project-gr00t-to" target="_blank" rel="noreferrer noopener">one humanoid robot</a>&nbsp;for every person in the world in the future, implying a total humanoid robot population of at least 10 billion or more, of which the EV company will have a significant share.
&#8220;While autonomous vehicle is a $5-$7 trillion market cap situation,&nbsp;<a href="https://www.benzinga.com/news/24/06/39327644/tesla-ceo-elon-musk-eyes-25-trillion-market-cap-with-optimus-bot-admits-to-being-pathologically-opti" target="_blank" rel="noreferrer noopener">Optimus is a $25 trillion market cap situation</a>,&#8221; Musk then said.
In October, the company showcased its Optimus bots at&nbsp;<a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself" target="_blank" rel="noreferrer noopener">its robotaxi unveiling event</a>&nbsp;in Los Angeles. About 20 active robots walked through the crowd assembled at the event. Optimus poured drinks, handed out snacks, and performed dance moves. However, the robots were&nbsp;<a href="https://www.benzinga.com/news/24/10/41354482/tesla-engineer-admits-optimus-robots-were-human-assisted-to-some-extent-at-robotaxi-unveiling-event" target="_blank" rel="noreferrer noopener">human-assisted to &#8220;some extent"</a>&nbsp;to showcase the company's vision at the event, &nbsp;Head of Engineering For Optimus&nbsp;Milan Kovac&nbsp;said in a post on X.
Tesla reported fourth-quarter earnings and revenue <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">below estimates </a>after market close on Wednesday. However, the company also assured the start of production of new and more affordable models in the first half of 2025, spurring stock growth after hours.
Photo courtesy: Shutterstock
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Tesla Likely To Sell Optimus To Rivals In 2026, Elon Musk Says Revenue Potential Of Bot North Of $10 Trillion: 'It's Real Bananas'

The Kansas City region is currently dealing with one of the most significant tuberculosis outbreaks in U.S. history, as per health officials. Dozens of active cases have been reported, causing concern amongst the public and health authorities.
What Happened: The Kansas Department of Health and Environment has identified 67 active tuberculosis cases in Wyandotte and Johnson counties as of January 24. The outbreak, which started last year, is still under investigation, with the origin yet to be determined, reported Reuters.
The department is currently tracking 384 individuals for potential exposure to the disease, providing testing and treatment assistance. A spokesperson stated, &#8220;While&nbsp;this outbreak is larger than&nbsp;normal, the risk remains low&nbsp;for the general public.&#8221;
Tuberculosis, a disease spread through the air and caused by a bacterium, mainly affects the lungs but can also target other body parts like the brain. If left untreated, it can be deadly. The disease can stay dormant&nbsp;in the body for years&nbsp;without causing symptoms, known as latent TB.&nbsp;Since 2024, 79 latent infections&nbsp;have been reported&nbsp;in the Kansas City area.
Four staff members from the U.S. Centers for Disease Control and Prevention are helping with contact tracing, testing, screening, and health education in the community. According to a World Health Organization report, the U.S. recorded 8,649 cases of tuberculosis last year, surpassing COVID-19 as the top cause for infectious disease-related deaths in 2023.
See Also: <a href="https://www.benzinga.com/general/health-care/25/01/43257413/trumps-executive-order-leads-to-cdc-halting-collaboration-with-who-amid-h5n9-bird-flu-discovery-and-rfk-jrs-senate-hearings">Moderna, Pfizer Surge Amid CDC-WHO Split And Bird Flu; RFK Jr. Nomination Looms — A Recipe For The Perfect Storm?</a>
Why It Matters: The Trump administration recently ordered a halt to all communications from the <a href="https://www.benzinga.com/general/health-care/25/01/43194764/trump-administration-halts-all-communications-from-the-centers-for-disease-control-as-bird-flu-spreads">Centers for Disease Control and Prevention</a> due to the spread of bird flu. 
Furthermore, Robert F. Kennedy, Jr., President Donald Trump&#8217;s nominee to lead the Department of Health and Human Services, is currently <a href="https://www.benzinga.com/25/01/43306674/trumps-hhs-pick-robert-kennedy-jr-begins-senate-confirmation-hearings">undergoing Senate confirmation hearings</a>. His unorthodox views on vaccines and health policies are expected to be scrutinized during these hearings.
Furthermore, recently Trump <a href="https://www.benzinga.com/25/01/43125408/trump-signs-order-to-withdraw-us-from-who-again-cites-funding-governance-concerns">signed an executive order</a> intending to take the U.S. out of the WHO. The president cited the organization&#8217;s handling of the COVID-19 pandemic and its susceptibility to political influence as reasons behind the decision.
The president also signed a <a href="https://www.benzinga.com/25/01/43290381/trumps-federal-spending-freeze-puts-3-trillion-in-limbo-threatens-industries-like-clean-energy-defense-healthcare">spending freeze</a> which put $3 trillion of federal spending in limbo, a move that affected the healthcare sector. However, this move was <a href="https://www.benzinga.com/news/25/01/43322173/trumps-memo-freezing-federal-assistance-money-rescinded-by-another-memo-following-lawsuits">rescinded on Wednesday</a> following opposition and lawsuits.
Photo Courtesy: Komsan Loonprom On Shutterstock.com
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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>

Health Care

General

Kansas City Battles Major Tuberculosis Outbreak, 67 Active Cases, Hundreds Under Watch

On Wednesday, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) said it has agreed to a $25 million settlement with President Donald Trump over his suspension from Facebook and Instagram following <a href="https://www.benzinga.com/news/25/01/43088148/trump-pardons-1500-jan-6-defendants-including-key-proud-boys-figures-after-bidens-final-hour-clemency">the Jan. 6 Capitol riot</a>.
What Happened: During the <a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">company's fourth-quarter</a> investor call, Meta CEO Mark Zuckerberg expressed support for the Trump administration highlighting its role in defending American tech values, <a href="https://www.nytimes.com/2025/01/29/technology/meta-trump-lawsuit-settlement.html">reported</a> the New York Times.
&nbsp;&#8220;This is going to be a big year for redefining our relationships with governments,&#8221; Zuckerberg stated.
See Also: <a href="https://www.benzinga.com/media/25/01/43295150/google-reclassifies-us-as-sensitive-country-just-like-china-and-russia-after-trumps-gulf-of-america-move">Google Reclassifies US As &#8216;Sensitive Country&#8217; Just Like China And Russia After Trump&#8217;s &#8216;Gulf Of America&#8217; Move</a>
Trump&#8217;s lawsuit, initiated in 2021, accused Meta and other tech companies of wrongful censorship. The settlement allocates $22 million for Trump&#8217;s presidential library and $3 million for legal fees and other plaintiffs.
Meta does not admit any wrongdoing as part of the agreement.
Why It Matters: Meta reported fourth-quarter revenue of $48.39 billion, surpassing <a href="https://www.benzinga.com/calendars/earnings">analyst projections</a> of $47.03 billion. The company also reported earnings of $8.02 per share for the quarter, exceeding the expected $6.77 per share.
Earlier it was reported that Zuckerberg is considering purchasing property in Washington, D.C., as part of a strategy to <a href="https://www.benzinga.com/25/01/43296858/mark-zuckerberg-reportedly-explores-buying-property-in-washington-dc-as-meta-ceo-looks-to-work-closely-with-trump">work closely with the Trump</a> administration.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Since the start of the year, companies such as Meta, TikTok, and Amazon have adjusted their products and policies to reflect Trump&#8217;s political views, directives, and executive decisions.
Meta&#8217;s content moderation changes have also <a href="https://www.benzinga.com/25/01/42960291/metas-content-moderation-changes-alarm-advertisers-as-zuckerberg-aligns-with-trump-and-musk">sparked concerns among advertisers</a>.&nbsp;
Other major corporations, such as Target and McDonald&#8217;s, have also made significant <a href="https://www.benzinga.com/news/25/01/43214683/target-ends-dei-program-following-trumps-call-to-eliminate-illegal-preferences-expert-calls-it-brand-suicide-for-retail-giant-with-diverse-customer-base">policy shifts</a> in response to the Trump administration&#8217;s stance on <a href="https://www.benzinga.com/markets/equities/25/01/42835400/mcdonalds-scales-back-diversity-initiatives-amid-conservative-pressure-cites-shifting-legal-landscape">diversity, equity, and inclusion</a> initiatives.
Price Action: Meta&#8217;s stock experienced a notable 2.29% rise in after-hours trading, reaching $692. Earlier in the day, it closed at $676.49, reflecting a 0.32% gain, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Image via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;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.

Legal

Mark Zuckerberg's Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: 'A Big Year For Redefining Our Relationships With Governments'

President Donald Trump criticized the Federal Reserve&#8217;s handling of inflation and banking regulation on Wednesday, following the central bank&#8217;s decision to hold interest rates <a href="https://www.benzinga.com/25/01/43316048/fed-holds-interest-rates-steady-halts-streak-of-consecutive-cuts-as-inflation-remains-elevated">steady at 4.25%-4.5%</a>.
What Happened: In a Truth Social post, Trump pledged to combat inflation through expanded energy production and regulatory cuts if elected, while denouncing the Fed&#8217;s focus on climate initiatives and diversity programs. 
His comments came just hours after the Federal Open Market Committee maintained rates and ended its streak of three consecutive cuts that began in September.
&#8220;The Fed has done a terrible job on Bank Regulation,&#8221; Trump wrote, promising that his administration would &#8220;unleash lending for all American people and businesses&#8221; through Treasury-led regulatory reforms.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/29200623/Screenshot-2025-01-30-at-6.35.30%E2%80%AFAM-1024x773.png" alt="" class="wp-image-757028" style="width:472px;height:auto" /></figure>
The Fed&#8217;s latest policy statement noted that while inflation has moved <a href="https://www.benzinga.com/25/01/43316048/fed-holds-interest-rates-steady-halts-streak-of-consecutive-cuts-as-inflation-remains-elevated">closer to its 2% target</a>, it &#8220;remains somewhat elevated.&#8221; This marks a slight shift from December&#8217;s more optimistic tone about inflation progress, according to multiple economists.
See Also: <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">Tesla Q4 Earnings Highlights: Revenue Miss, EPS Miss, EV Updates, Automaker Says &#8216;2025 Will Be A Seminal Year&#8217;</a>
Why It Matters: Bill Adams, chief economist for Comerica Bank, suggested the Fed&#8217;s cautious stance might reflect concerns about potential inflationary pressures from proposed <a href="https://www.benzinga.com/25/01/43319060/first-rate-cut-in-june-if-at-all-in-2025-economist-says-as-federal-reserve-holds-rates-steady">Trump administration policies</a>, including higher tariffs and stricter immigration controls.
Markets showed mixed reactions to the Fed&#8217;s announcement. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) traded near flat, while the U.S. dollar index strengthened modestly. Treasury yields edged higher, with the policy-sensitive two-year yield rising 3 basis points to 4.24%.
Fed Chair Jerome Powell <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43318325/a-different-powell-emerges-fed-chair-softens-hawkish-tone-on-interest-rates-bitcoin">sidestepped questions about Trump&#8217;s criticism</a> during his press conference, stating &#8220;It&#8217;s not appropriate for me to comment on what the president said.&#8221; Powell emphasized that the Fed isn&#8217;t rushing to adjust rates, noting that recent inflation readings have shown encouraging progress.
Market expectations for <a href="https://www.benzinga.com/25/01/43319060/first-rate-cut-in-june-if-at-all-in-2025-economist-says-as-federal-reserve-holds-rates-steady">future rate cuts have shifted</a>, with investors now pricing in a 30% probability of a March cut, rising to 45% for June. Joseph Brusuelas, RSM&#8216;s chief economist, projects two quarter-point cuts this year, likely in June and December, though he emphasized these moves would depend heavily on incoming economic data.
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Image Via Shutterstock 
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Economics

Federal Reserve

Trump Slams Fed's 'Terrible Job' On Bank Regulation After Rate Hold, Vows To 'Unleash Lending For All American People'

Electric vehicle behemoth Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reported an unrealized gain of $600 million on its cryptocurrency holdings in the fourth quarter.
What happened: Tesla&#8217;s balance sheet showed $1.07 billion in digital assets, up from $184 million from the last several quarters, according to the company&#8217;s <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">earnings report </a>released Wednesday after the market close.
The company also reported a mark-to-market gain of $600 million on digital assets in the fourth quarter. For context, this was 26% of the total income made by the Elon Musk-led firm in the quarter.
Note that Tesla doesn't provide a breakdown of its digital holdings. However, on-chain analytics firms have indicated that the entirety of their stockpile consists of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).&nbsp;
At the time of writing, Tesla held 11,509 BTC on its books, <a href="https://intel.arkm.com/explorer/entity/tesla">according </a>to Arkham Intelligence, unchanged from last quarter. Tesla is the fourth-largest public company with Bitcoin on its balance sheet behind MicroStrategy, Marathon Digital Holdings, and Galaxy Digital Holdings, according to Coingecko data.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43294972/robinhood-ceo-vlad-tenev-pushes-for-tokenization-to-unlock-private-companies-like-spacex-and-openai-for-more-investors">Robinhood CEO Vlad Tenev Pushes For Tokenization To Unlock Private Companies Like SpaceX And OpenAI For More Investors</a>
Why It Matters: The inflated value follows the <a href="https://www.benzinga.com/24/12/42502213/new-crypto-accounting-standards-from-todaywill-it-boost-bitcoins-corporate-adoption">new accounting standard for cryptocurrencies</a>, enabling firms to report their holdings at market value and include them in the company's net income.&nbsp;
Before the mark-to-market standards, companies had to account for impairment charges, accounting for only the unrealized losses but not the gains.
Tesla&#8217;s Bitcoin journey began in January 2021, when it first acquired $1.5 billion worth of the leading cryptocurrency.&nbsp;
Tesla reported lower-than-expected fourth-quarter revenue of $25.71 billion, up 2% year-over-year.
Price Action: At the time of writing, Bitcoin was exchanging hands at $103,969.15, up 2.13% 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 Tesla were up 4.15% in after-hours trading after closing down 2.26% at 389.10 during Wednesday's regular trading session.
Photo by Rcc_Btn on Shutterstock
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Elon Musk's Tesla Records $600 Million In Paper Gains On Bitcoin In Q4 Thanks To New Accounting Rule

<a href="https://www.benzinga.com/real-estate/25/01/43216817/larry-ellison-sean-hannity-and-now-a-285m-mansion-floridas-billionaire-playground-manalapans-star-power-grows">Larry Ellison</a>, the Oracle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) co-founder and one of the richest people on the planet, watched $22.6 billion disappear in a single day on January 27—and he didn't even have to lift a finger. The selloff was brutal, wiping out 12% of his fortune, all because of an AI startup that barely existed two years ago.
But Ellison wasn&#8217;t alone in feeling the sting. In fact, another tech titan took an even bigger hit. Jensen Huang, the co-founder of Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), saw his fortune plummet by a massive $20.1 billion—a drop that set a new record for the "biggest single-day loss of value for any public company in history," according to Forbes.&nbsp;
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DeepSeek's AI Breakthrough Sparked a Market Panic
The chaos started when DeepSeek, a Chinese AI company, launched its DeepSeek R1 chatbot—a model that suddenly had everyone questioning whether Silicon Valley's AI dominance was as untouchable as it seemed.
Here's why: DeepSeek's AI is open-source, meaning developers can inspect and tweak it freely. The open-source nature of DeepSeek&#8217;s model could radically transform the AI ecosystem.&nbsp;
More importantly, it reportedly cost them only $5.6 million to develop—a fraction of the billions being dumped into AI by U.S. tech giants like OpenAI, Google, and, of course, Oracle.&nbsp;&nbsp;
The result? A massive selloff in AI-heavy stocks. Oracle, Nvidia, and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) all took a hit, but Ellison was the day's biggest loser.
Trending: Built on the trusted network of Fortune 500 companies, <a href="https://www.benzinga.com/money/web3-enabler-the-most-boring-blockchain-company-partners-with-salesforce">this blockchain company partners with Salesforce to uproot lengthy and expensive B2B transactions, and you can invest with just $100.</a>
Some Billionaires Came Out on Top
Not everyone suffered. While Ellison and Huang lost billions, Mark Zuckerberg walked away $4.3 billion richer, and Jeff Bezos pocketed an extra $632 million. The market doesn't play favorites—it just rewards whoever's on the right side of the trade.
The Market Rebounded—But This Isn't Over
On January 28, stocks like Nvidia and Oracle started climbing back. Nvidia jumped nearly 9%. Forbes said in an article, "Nvidia's Tuesday bounce became the second best day for any stock ever in terms of market value added." Oracle gained 3.6%, and investors took a deep breath. But this wasn't just another market dip—it was a wake-up call.
DeepSeek's rise proves that the AI race isn't just about who spends the most money. A tiny startup just sent the biggest names in tech scrambling—and it could be anyone next. As <a href="https://www.benzinga.com/general/24/04/38073344/mark-cuban-predicts-worlds-first-trillionaire-wont-be-musk-or-bezos-itll-be-someone-who-masters-ai-a">Mark Cuban famously predicted</a>, the world's first trillionaire will be the person who creates AI in a way we've never imagined before. DeepSeek's sudden dominance shows just how real that possibility is. A company that didn't exist two years ago just shook up Silicon Valley, proving that game-changing AI doesn't have to come from the usual suspects.
As for Larry Ellison? He's <a href="https://www.benzinga.com/real-estate/25/01/43009727/oracles-larry-ellison-has-just-bought-a-london-townhouse-for-202-million-to-add-to-his-global-property-portfolio">still a billionaire</a> several times over, and this loss probably won't keep him up at night. Forbes reports his real-time net worth at $206.6 billion on January 29. But regardless of his climb back to the 4th place spot in the billionaire ranking, Silicon Valley just got a reality check — and it came from China.
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
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Larry Ellison, Oracle Co-Founder And One Of Richest Men In The World, Saw His Net Worth Dip $22.6 Billion In One Day Due To DeepSeek Selloff

Back in 2023, YouTube megastar MrBeast—real name Jimmy Donaldson—found himself at the center of a heated debate after <a href="https://www.benzinga.com/news/23/01/30647448/mrbeasts-1-001-acts-of-charity-the-gift-of-sight-and-a-new-tesla-for-1-teenager">releasing a video</a> in which he paid for 1,000 blind people to have life-changing surgery.
While many praised his generosity, others criticized him for turning philanthropy into content.
At the time, MrBeast defended his actions, stating, "I promise to give away all my money before I die. Every single penny."
<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">Twitter &#8211; Rich people should help others with their money Me &#8211; Okay, I'll use my money to help people and I promise to give away all my money before I die. Every single penny. Twitter &#8211; MrBeast bad
&mdash; MrBeast (@MrBeast) <a href="https://twitter.com/MrBeast/status/1620195967008907264?ref_src=twsrc%5Etfw">January 30, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/tech/24/12/42735755/mrbeasts-daring-new-challenge-live-in-a-jet-for-100-days-and-then-keep-it-are-you-game">MrBeast&#8217;s Daring New Challenge: Live In A Jet For 100 Days And Then Keep It — Are You Game?</a>
In 2019 he also made similar statements. &#8220;I know most people prob won't believe this but my main goal in life is to just make a bunch of money, and then give it all away while doing as much good as possible before I die.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I know most people prob won't believe this but my main goal in life is to just make a bunch of money, and then give it all away while doing as much good as possible before I die. I just don't want to live a meaningless life, I want to make an impact and be content when I'm older!
&mdash; MrBeast (@MrBeast) <a href="https://twitter.com/MrBeast/status/1203937066322681856?ref_src=twsrc%5Etfw">December 9, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
From YouTube Creator To Billionaire
Fast forward to today, and MrBeast has officially joined the billionaire ranks. His massive empire—spanning YouTube, merchandise, food brands, and soon, an Amazon streaming deal—has propelled his net worth to $1 billion, <a href="https://www.celebritynetworth.com/richest-businessmen/producers/jimmy-donaldson-aka-mrbeast-net-worth/">according</a> to Celebrity Net Worth.
However, Forbes estimates his <a href="https://www.forbes.com/profile/mrbeast/">fortune</a> at $85 million. Leaked financial documents from his legal battle with MrBeast Burgers suggest otherwise. A 2024 court case revealed that MrBeast's businesses generated $223 million in revenue in 2023 and were on track for $700 million in 2024.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
The Business Behind The Billionaire
MrBeast's success is not just about viral videos. His empire includes:
YouTube Channels: More than 500 million followers across various channels, with over 352 million subscribers on his main channel alone.
Merchandise and Sponsorships: Millions in revenue from branded merchandise and partnerships with companies like Microsoft and Walmart.
Beast Philanthropy: A nonprofit initiative that funds large-scale charitable projects.
Streaming Expansion: A reported <a href="https://www.benzinga.com/general/entertainment/24/01/36742104/from-amazons-100m-to-chocolate-snacks-a-look-at-mrbeasts-most-profitable-deals">$100 million deal</a> with Amazon to produce an exclusive series, further expanding his reach.
A Self-Made Billionaire Who Still Plans To Give It All Away
Unlike many ultra-wealthy individuals who inherited their fortunes, MrBeast built his empire from scratch—starting as a teenager making gaming videos on YouTube.
Born on May 7, 1998, in Greenville, North Carolina, Donaldson launched his channel under the name &#8220;MrBeast6000&#8221; at the age of just 12.
Then came his big break in 2017: a video where he counted to 100,000—yes, out loud, for 44 straight hours. That mind-boggling feat racked up over 21 million views, proving that sometimes, the internet just loves watching people do absurdly difficult things.
But he didn't stop there. MrBeast went bigger and crazier—counting to 200,000, reading the entire dictionary, reciting the entire Bee Movie script, taking an Uber across America, saying &#8220;Logan Paul&#8221; 100,000 times, and even torturing himself by watching Jake Paul's &#8220;It's Everyday Bro&#8221; on repeat for 10 excruciating hours.
With a billion-dollar empire, MrBeast is now expanding into television, gaming, and global-scale philanthropy. As he continues to balance entertainment with generosity, his rise raises important questions about wealth, charity, and the role of digital creators in shaping the world.
Photo by Joe Seer on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/01/43078570/mrbeast-unhappy-with-billionaires-silence-on-feeding-the-hungry-after-overwhelming-interest-about-tiktok-purchase-when-i-fundraise-its-crickets">MrBeast Unhappy With Billionaires&#8217; Silence On Feeding The Hungry After Overwhelming Interest About TikTok Purchase: &#8216;When I Fundraise It&#8217;s Crickets&#8217;</a></li>
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Disclaimer:&nbsp;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.

MrBeast's Net Worth Hits $1 Billion—But In 2023, He Promised To 'Give Away' All His Money. What Drives The YouTuber's Philanthropy?

Small Cap

Press Releases

SIMPLY BETTER BRANDS ANNOUNCES NEW PARTNERSHIP WITH BMO AND CLOSING OF USD $10 MILLION CREDIT FACILITY TO SUPPORT THE FUTURE GROWTH OF TRUBAR™

SIMPLY BETTER BRANDS CORP. ANNOUNCES SHARES ISSUED UNDER VIBEZ EARNOUT AGREEMENT

SIMPLY BETTER BRANDS ANNOUNCES SENIOR LEADERSHIP APPOINTMENTS

Contracts

SIMPLY BETTER BRANDS CORP'S TRUBAR™ BRAND SELECTED FOR NATIONAL PROMOTION PROGRAM WITH A LARGE NATIONAL U.S. WAREHOUSE CLUB RETAILER

SIMPLY BETTER BRANDS CORP. ANNOUNCES NATIONWIDE LAUNCH OF TRUBAR™ IN SELECT SAM'S CLUB WAREHOUSE STORES

SIMPLY BETTER BRANDS CORP. PROVIDES CORPORATE UPDATE, ANNOUNCING ACTIONS TO FURTHER STREAMLINE PRODUCT PORTFOLIO, SHARPEN FOCUS ON GROWTH STRATEGY

SIMPLY BETTER BRANDS CORP. ANNOUNCES EXPANDED DISTRIBUTION OF TRUBAR™ IN THE E-COMMERCE CHANNEL WITH GOPUFF

OTC Markets Group Welcomes Simply Better Brands Corp. to OTCQX

SIMPLY BETTER BRANDS CORP. UPGRADES TO TRADE SHARES ON THE OTCQX BEST MARKET

SIMPLY BETTER BRANDS CORP. ANNOUNCES RSU GRANT

OTCM

Simply Better Brands

Simply Better Brands Corp. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/SBBC#TSXV">SBBC</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/SBBCF#OTCQB">SBBCF</a>) announced on Monday its interim financial results for the second quarter ended June 30, 2024.



Revenue totaled $7 million for the period, down from $8.4 million in the second quarter of fiscal 2023. The company attributed a 17% year-over-year decline to a decrease in revenue in the CBD segment.



&#8220;I am very pleased with the Company&#8217;s progress over this past quarter, during which we achieved significant milestones in expanding our distribution footprint, enhancing our financial position, and strengthening our leadership team and board," said Kingsley Ward, CEO and chairman of SBBC. "We have completed our restructuring efforts after divesting non-core assets, ensuring we are laser-focused on our key growth areas. We are proud of our accomplishments this quarter and remain committed to delivering value to our shareholders.&#8221;



Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/12/36053627/simply-better-brands-lives-up-to-its-name-with-big-q3-dive-into-growth-drivers">Simply Better Brands Lives Up To Its Name With Big Q3 Dive Into Growth Drivers</a>



<h3 class="wp-block-heading">Q2 2024 Financial Results</h3>



<ul>
<li>Gross profit amounted to $3.3 million (or 47% gross margin percentage) compared to gross profit of $1.8 million for the three months ended June 30, 2023.</li>



<li>Operating costs totaled $4.1 million, representing an increase of $0.8 million (or 24%), compared to $3.3 million for the three months ended June 30, 2023.</li>



<li>Adjusted EBITDA came in positive at $0.3 million from continuing operations, representing a $0.7 million improvement over the positive adjusted EBITDA achieved in the comparable period in 2023.</li>



<li>The net loss from continuing operations was $7.1 million compared to a net loss of $2.7 million for the three months that ended on June 30, 2023.</li>
</ul>



<h3 class="wp-block-heading">Leadership And Executive Changes</h3>



During the second quarter, Better announced the additions of Erica Groussman, Brock Bundy and St. John Walshe to its board of directors.



On July 11, the company announced J.R. Kingsley Ward has become SBBC&#8217;s permanent CEO in addition to his role as chairman of the SBBC board of directors after successfully leading the company through a period of transition and growth since February 2024 as interim CEO.



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</ul>

Simply Better's Q2 Gross Profit Increases 83% YoY, Revenue Down 17% As CBD Segment Dips

Simply Better Brands Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PKANF#OTC">PKANF</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/SBBCF#OTCQB">SBBCF</a>), a Canada-based company operating in emerging plant-based and holistic wellness <a href="https://www.benzinga.com/markets/cannabis/23/03/31300293/the-intersection-of-cannabis-consumer-products-these-non-cannabis-companies-are-benefiting-from-" target="_blank" rel="noreferrer noopener">consumer</a> product categories, announced its financial results for the three and nine months ended September 30, 2023.



<h4 class="wp-block-heading">Q3 2023 Financial Highlights</h4>



<ul>
<li>Revenue for the third quarter of 2023 was $19.4 million, an increase of $6.0 M or 45% growth compared to $13.4 million in Q3 2022.</li>



<li>Net loss was $0.6 million for the third quarter of 2023, which decreased by $5.7 million over the loss in the same period of last year.</li>



<li>Adjusted EBITDA was a positive $0.1 million for Q3 2023, a $2.5 million improvement over the loss incurred in the second quarter of 2023 and an increase of $0.1 million compared to the same period in 2022.</li>



<li>Gross profit for Q3 2023 was $12.7 million, an increase compared to $8.8 million in Q3 2022.</li>
</ul>



The company&#8217;s strategic brands, including TRUBAR, No B.S. Skincare, PureKana, and Vibez Wellness, all contributed to this growth:



<ul>
<li>TRUBAR, the protein bar brand, expanded its presence in major retailers such as Costco and BJ&#8217;s Wholesale, contributing to a forecasted revenue of over $30 million in 2023, a substantial increase from $10 million in 2022.</li>



<li>PureKana Wellness, known for its plant-based <a href="https://www.benzinga.com/markets/cannabis/23/03/31416983/simply-better-brands-purekana-launches-a-line-of-cbd-based-products-for-dogs" target="_blank" rel="noreferrer noopener">products</a>, added over 60,443 customers during the quarter and ventured into the pet wellness market, tapping into a substantial growth opportunity.</li>



<li><a href="https://www.benzinga.com/markets/cannabis/22/03/26084080/simply-betters-no-b-s-skincare-brand-to-sponsor-ufc-champion-julianna-pe-a" target="_blank" rel="noreferrer noopener">No B.S. Skincare</a> extended its retail footprint to 3,200 CVS Health stores and is set to launch nationally in 3,400 Walgreens locations in Q4 2023.</li>



<li>Vibez Wellness, focusing on non-CBD wellness products, reported $3.7 million in revenue for 2023, targeting millennial consumers with products like keto gummy supplements.</li>
</ul>



SBBC's CEO Outlook



&#8220;As our Q3 2023 financial and commercial results illustrate, we are positioned for continued revenue growth, profit optimization, and debt reduction in 2023. Our strategic priorities remain to lead consumer-centric innovation and relentlessly acquire customers to these emerging brands by driving category and omnichannel expansion," says SBBC CEO, Kathy Casey. 



"Our clean ingredient wellness brands are resonating with our targeting Generation Z and Millennial consumers and retailers as we innovate to solve their daily challenges. This commercial relevancy has all four of strategic brands in growth mode, while focusing on cost reduction to fuel the continued momentum. As we assess all opportunities, our highest priority is keeping up with the relentless demand on the unicorn of TRUBAR.&#8221;&nbsp;



PKANF Price Action PKANF's shares were trading at $0.2068 per share at the time of this writing around 3 PM ET Friday.



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<li><a href="https://www.benzinga.com/pressreleases/23/08/n34104592/simply-better-brands-corp-announces-second-quarter-results-at-23-6-m-in-revenue-while-investing-in" target="_blank" rel="noreferrer noopener">Simply Better Brands Corp. Announces Second Quarter results at $23.6 M IN REVENUE WHILE INVESTING IN brand GROWTH and capability expansion</a></li>
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