Longboard Pharmaceuticals에 대한 매도 수량은 투자자에게 Longboard Pharmaceuticals의 주식 하락에 베팅하는 정도를 알려줍니다. 매도 수량 데이터는 2주마다 업데이트됩니다.

Longboard Pharmaceuticals (NASDAQ:LBPH) 주식, 공매도 수량 보고

Longboard Pharmaceuticals

Longboard Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases. The company is working to improve a portfolio of centrally acting product candidates designed to be selective for specific G protein-coupled receptors (GPCRs). The company is evaluating LP352, an oral, centrally acting 5-hydroxytryptamine 2C (5-HT2C) receptor superagonist, with negligible observed impact on 5-HT2B and 5-HT2A receptor subtypes, in development for the potential treatment of seizures associated with a broad range of developmental and epileptic encephalopathies.

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이들 7개 중형주는 지난주 최고의 성과를 거두었다. 그것들이 당신의 포트폴리오에 있나요?

오클로, 클린스파크 및 울프스피드는 지난주 최고 성과를 보여준 7개 중형주 중 일부 (10월 14일-18일)

Longboard Pharmaceuticals, Inc. - Common Stock

Longboard Pharmaceuticals Inc

<ul>
<li>New Granite 3.0&nbsp;8B&nbsp;&amp;&nbsp;2B&nbsp;models, released under the permissive Apache 2.0 license, show strong performance across many academic and enterprise benchmarks, able to outperform or match similar-sized models</li>
<li>New Granite Guardian 3.0 models deliver IBM&#39;s most comprehensive guardrail capabilities to advance safe and trustworthy AI</li>
<li>New Granite 3.0 Mixture-of-Experts models enable extremely efficient inference and low latency, suitable for CPU-based deployments and edge computing</li>
<li>New Granite Time Series model achieved state-of-the-art performance in zero/few-shot forecasting, outperforming models&nbsp;10 times larger</li>
<li>IBM unveils next generation of Granite-powered watsonx Code Assistant for general purpose coding; Debuts new tools in watsonx.ai for building and deploying AI applications and agents</li>
<li>Announces Granite will become the default model of Consulting Advantage, an AI-powered delivery platform used by IBM&#39;s 160,000 consultants to bring new solutions to clients faster</li>
</ul>

IBM Releases Granite 3.0 AI Models, Featuring Strong Performance, Trustworthy AI, and Low-Latency Capabilities

VEON

VEON Secures Full Compliance With Nasdaq After 2023 20-F Filing

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index moved to the &#8220;Extreme Greed&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the Dow Jones index and S&amp;P 500 jumping to fresh record highs during the session.
All three major indices recorded gains for the sixth straight week, with the Dow and S&amp;P 500 gaining 0.96% and 0.85%, respectively. The Nasdaq, meanwhile, added 0.80% last week.
On the economic data front, U.S. housing starts fell by 0.5% from the previous month to an annualized rate of 1.354 million units in September. Building permits declined by 2.9% to an annual rate of 1.428 million in September.
Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) shares jumped around 11% on Friday after the company reported better-than-expected third-quarter earnings. The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) posted upbeat quarterly earnings, while revenue missed estimates.
As far as the earnings season is concerned, over 70 S&amp;P 500 companies have released quarterly results so far, with around 75% of those exceeding market estimates.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, communication services, and real estate stocks recording the biggest gains on Friday. However, energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 37 points to 43,275.91 on Friday. The S&amp;P 500 gained 0.40% to rise to 5,864.67, while the Nasdaq Composite rose 0.63% to close at 18,489.55 during Friday's session.
Investors are awaiting earnings results from SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), and Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 75, the index moved to the &#8220;Extreme Greed&#8221; zone on Friday, versus a prior reading of 70.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41402086/wall-streets-most-accurate-analysts-give-their-take-on-3-financials-stocks-delivering-hi">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Financials Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

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Markets

LOGI

NFLX

Dow, S&P 500 Settle At Record High Levels, Record 6th Consecutive Week Of Gains: Fear Index Moves To 'Extreme Greed' Zone

Guidance
The original 2024 business EPS&nbsp;guidance&nbsp;issued on February 1, 2024, and upgraded on July 25, 2024, anticipated Opella as a fully consolidated segment in Sanofi for 2024. Under the previous scope of&nbsp;guidance&nbsp;including Opella, Sanofi would have upgraded its 2024 business EPS&nbsp;guidance&nbsp;to between stable to a low single-digit percentage growth at CER3, from previously stable at CER. This upgrade is substantiated by an expected strong business performance in the&nbsp;third quarter&nbsp;that will be detailed as part of&nbsp;Q3&nbsp;2024 results.
Under the new scope excluding Opella, preliminary business EPS in 2023 was &euro;7.25. Sanofi expects its 2024 business EPS to grow by at least a low-single digit percentage at CER.
For 2025, Sanofi continues to anticipate a strong rebound in business EPS at CER under both the previous and the new scope.

Guidance

Sanofi Eyes Low Single-Digit EPS Growth For 2024 After Opella Stake Transfer, Forecasts Strong Rebound In 2025

Ross Gerber, CEO of Gerber Kawasaki Wealth and a prominent investor in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), recently shared his thoughts on X regarding the competitive landscape in autonomous driving, specifically highlighting Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary Google&#8217;s Waymo. 
What Happened: He stated, &#8220;Google has the money and resources to scale globally. Costs will come down and their system will have several revenue sources. Like ads.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Google has the money and resources to scale globally. Costs will come down and their system will have several revenue sources. Like ads. Tesla has a level two vision system that has many issues. <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://twitter.com/search?q=%24goog&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$goog</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1847992223528255503?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
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Gerber&#8217;s remarks come in light of Waymo&#8217;s recent expansion into Los Angeles, where they have increased their robotaxi service area significantly. 
He noted, &#8220;A Waymo came up to us yesterday… they are everywhere in West LA. Wasn't sure why it was there. Then a girl came out. Professed her love for Waymo and took off. Robotaxi has been solved by Google. It works. Game over.&#8221; This anecdote underscores the growing presence and acceptance of Waymo&#8217;s autonomous vehicles in urban settings.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A Waymo came up to us yesterday… they are everywhere in west LA. Wasn't sure why it was there. Then a girl came out. Professed her love for Waymo and took off. Robotaxi has been solved by Google. It works. Game over. <a href="https://twitter.com/search?q=%24goog&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$goog</a> <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://t.co/hDgZ7YR3Ca">pic.twitter.com/hDgZ7YR3Ca</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1847989737199456390?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41417379/nvidia-stock-is-up-over-233-in-the-past-year-and-tech-bulls-say-it-could-go-even-hi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Is Up Over 233% In The Past Year And Tech Bulls Say It Could Go Even Higher From Here: &#8216;…You&#8217;ll See The Stock Double Over The Next Several Years&#8217;</a>
Why It Matters: This critique comes amid a broader conversation about the competitive <a href="https://www.benzinga.com/news/24/10/41355911/waymo-co-founder-says-tesla-has-an-advantage-in-race-to-autonomous-driving-id-rather-be-in-teslas-sh">landscape of autonomous driving</a>. Recently, Waymo&#8217;s co-founder expressed optimism about Tesla&#8217;s self-driving vision, citing its extensive data collection as a key advantage. In contrast, Gerber&#8217;s comments highlight potential vulnerabilities in Tesla&#8217;s technology.
Meanwhile, Uber&#8217;s CEO Dara Khosrowshahi has discussed the<a href="https://www.benzinga.com/news/24/10/41328039/as-elon-musk-unveils-cybercab-uber-ceo-weighs-in-on-robotaxi-competiton-from-waymo-tesla-dont-think"> competitive robotaxi market</a>, noting Uber&#8217;s strategic positioning through partnerships with companies like Waymo. This dynamic market is further complicated by Uber&#8217;s shift from developing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41267936/as-elon-musk-gears-up-for-highly-anticipated-robotaxi-unveil-this-ridesharing-netwo">autonomous vehicles to leveraging its ridesharing network</a>, creating a strong competitive edge.
Gerber&#8217;s recent critique of Google&#8217;s business model, adds another <a href="https://www.benzinga.com/news/24/10/41374621/tesla-investor-ross-gerber-warns-google-faces-existential-threat-from-ai-search-tools-like-chatgpt-a">layer to the discussion</a>, as he warns of threats from AI search competitors like ChatGPT and Perplexity AI. This highlights the rapidly evolving landscape of technology and its impact on established giants.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/esg/24/10/41409688/this-small-cap-nuclear-stock-is-up-over-100-in-a-month-will-it-keep-generating-momentum?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Small-Cap Nuclear Stock Is Up Over 100% In A Month: Will It Keep Generating Momentum?</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

GOOG

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TSLA

Tesla Investor Ross Gerber Calls It 'Game Over' As Google's Waymo Expands Robotaxi Presence In West LA

Eric Quinnell, senior staff engineer at Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), who was working on the company&#8217;s Dojo supercomputer project, said on Friday that he is leaving the EV giant.
What Happened: &#8220;With a heavy heart I say farewell today to Tesla,&#8221; Quinnell wrote on social media X. The post was adjoined by his resignation letter. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With a heavy heart I say farewell today to Tesla. (Feel free to use my farewell email as a template for less lame/mopey goodbyes) <a href="https://t.co/vciD62PGB8">pic.twitter.com/vciD62PGB8</a>
&mdash; Eric Quinnell (@divBy_zero) <a href="https://twitter.com/divBy_zero/status/1847339102087094412?ref_src=twsrc%5Etfw">October 18, 2024</a></blockquote>
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Quinnell, as per his resignation letter, worked at Tesla for about three years. According to Quinnell&#8217;s LinkedIn profile, he joined Tesla in December 2020 and was Dojo fabric lead. Prior to that, he was Principal Engineer at semiconductor company Arm Holdings Plc.
Tesla <a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees" target="_blank" rel="noreferrer noopener">laid off several employees earlier this year</a> and several senior executives left the company including then Senior Director of Charging Infrastructure Rebecca Tinucci, AI Manager Paril Jain, Director of New Product Introduction Daniel Ho, Senior Vice President of Powertrain and Energy Engineering Drew Baglino, and Vice President of Public Policy and Business Development Rohan Patel.
Earlier this month, Tesla&#8217;s Chief Information Officer Nagesh Saldi also <a href="https://www.benzinga.com/news/24/10/41189500/tesla-cio-quits-before-major-robotaxi-event-exec-departures-continue-in-2024">left the company</a>.
Promotions Amid Departures: The company <a href="https://www.benzinga.com/news/24/10/41378568/tesla-promotes-key-executives-and-gives-them-more-responsibilities-in-leadership-shuffle">also promoted several executives</a> over the past few weeks including Wes Morrill, Milan Kovac, and Ashok Elluswamy.
Omead Afshar&nbsp;is now a vice president in charge of sales and manufacturing with senior executives in North America and Europe reporting to him, The Wall Street Journal&nbsp;<a href="https://www.wsj.com/business/autos/musk-taps-longtime-aide-to-oversee-teslas-operations-in-north-america-europe-dec46a80" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;earlier this month. 
Elluswamy, meanwhile, has been promoted from Director of Autopilot Software to Vice President of AI Software.
Kovac, who was Director of Optimus and Autopilot Engineering, has been promoted to Vice President of Optimus.
Morrill, who was Cybertruck's lead engineer, is now Senior Director of Engineering- Reliability, Test, and Analysis, according to the exec's Linkedin. Morrill assumed the new role in September.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41417197/elon-musk-tesla-refute-inefficiency-concerns-with-wireless-charging-on-cybercab-there-is-no-meaningf" target="_blank" rel="noreferrer noopener">Elon Musk, Tesla Refute Inefficiency Concerns With Wireless Charging On Cybercab: ‘There Is No Meaningful Efficiency Difference…&#8217;</a></li>
</ul>
Photo courtesy: Tesla

Tech

Tesla Dojo Fabric Lead Leaves Company Amid Major Talent Upheaval At EV Giant

Macro Economic Events

Econ #s

Economics

Germany Producer Price Index (MoM) For September -0.5% Vs. -0.2% Est.; 0.2% Prior

With U.S. stock futures trading mixed this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) to report quarterly earnings at $1.33 per share on revenue of $9.29 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. SAP shares gained 0.2% to $230.87 in after-hours trading.</li>
<li>Public Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>) named Chris Sambar as COO. Public Storage shares gained 0.1% to close at $345.62 on Friday.</li>
<li>Analysts are expecting Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) to post quarterly earnings at $1.47 per share on revenue of $7.28 billion. The company will release earnings after the markets close. Nucor shares gained 0.1% to close at $158.24 on Friday.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) shares fell in after-hours trading after a report suggesting the company has resumed merger discussions with Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) after the conversation ended last year. Cigna shares fell 4.7% to $320.26 in the after-hours trading session.</li>
<li>Analysts expect Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>) to report quarterly earnings at 99 cents per share on revenue of $1.11 billion after the closing bell. Logitech shares rose 1.2% to close at $88.63 on Friday.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41402086/wall-streets-most-accurate-analysts-give-their-take-on-3-financials-stocks-delivering-hi">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Financials Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo courtesy: SAP

SAP, Nucor And 3 Stocks To Watch Heading Into Monday

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) investors were suddenly waking up after years of dormancy to move around their stash as the leading cryptocurrency gathers upward momentum toward all-time highs.
What Happened: On-chain analytics firm Whale Alert reported that a Bitcoin address, dormant for roughly 11 years, transferred 21.87 BTC to another address Sunday overnight. 
The stash was worth $16,252 when it last moved in 2013, Whale Alert added. As of this writing, the total value of the holdings was around $1.5 million, indicating a massive 9159% return. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4a4; A dormant address containing 21 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (1,516,136 USD) has just been activated after 10.9 years (worth 16,252 USD in 2013)!<a href="https://t.co/nraQNaK8Ho">https://t.co/nraQNaK8Ho</a>
&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1848160593011789866?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
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Similarly, a Satoshi-era whale transferred 20 BTCs to another wallet a little earlier in the day, which at the time of the transfer netted 411596% in return.
"Satoshi Era" is a popular term in cryptocurrency parlance, referring to the phase from 2009 to 2011, when Nakamoto was actively working and promoting the project.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4a4; A dormant address containing 20 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (1,370,949 USD) has just been activated after 13.4 years (worth 333 USD in 2011)!<a href="https://t.co/kVjmSgEdlf">https://t.co/kVjmSgEdlf</a>
&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1848027361616277642?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41406816/dogecoin-sets-the-stage-but-ai-meme-coin-goat-steals-the-show-ripping-from-zero-to-400-mil">Dogecoin Sets The Stage, But AI Meme Coin GOAT Steals The Show, Ripping From Zero To $400 Million In 1 Week</a>
Why It Matters: The movement of <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41223923/bitcoin-market-buzzes-as-satoshi-era-whale-shifts-another-634k-to-crypto-exchange">such old Bitcoins has picked up pace</a> this month. It wasn&#8217;t immediately clear whether the transfer was meant to sell and lock in profits.
The movements of Bitcoin whales, especially those from the Satoshi era, are closely watched by the cryptocurrency community. These whales hold a significant amount of Bitcoin, and their transactions can potentially impact the market.
According to blockchain research firm CryptoQuant, whale inflows to exchanges <a href="https://cryptoquant.com/asset/btc/chart/flow-indicator/exchange-whale-ratio?exchange=all_exchange&amp;window=DAY&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line">lifted</a> significantly last week, sparling fears of sell-offs. 
Bitcoin, the world&#8217;s largest cryptocurrency, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420178/bitcoin-ethereum-dogecoin-on-the-rise-as-uptober-may-be-finally-here-analysts-predict-bull">surged above $69,000 late Sunday evening</a>, the first occurrence since early June. The coin gained over 7% in the last week, with top cryptocurrency analysts projecting a swift return to its all-time highs.
Price Action: At the time of writing, Bitcoin was exchanging hands at 68,773.18, up 0.73% 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>. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41410605/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-meme-crypto-heres-h">If You Invested $100 In Dogecoin When Elon Musk First Tweeted About The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

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

Cryptocurrency

Quiet Bitcoin Whales, Sitting On A Windfall, Spring Back To Activity — Price Retrace Imminent?

Sanofi and CD&amp;R partner to fuel Opella&#39;s ambitions in consumer healthcare
<ul>
<li>Sanofi and CD&amp;R enter exclusive negotiations to transfer a&nbsp;50%&nbsp;controlling stake in Opella with Sanofi to remain a significant shareholder</li>
<li>With 11,000 talented and passionate people bringing iconic brands to life, Opella poised to ignite new bold development journey</li>
<li>Sanofi to become a focused science-driven biopharma delivering innovative medicines and vaccines to patients</li>
<li>Sanofi 2024 business EPS&nbsp;guidance&nbsp;upgraded today</li>
</ul>

Sanofi And CD&R Enter Exclusive Talks To Shape Opella's Global Healthcare Journey, Sanofi To Remain A Significant Shareholder

Brian Armstrong, CEO of cryptocurrency exchange Coinbase, has publicly endorsed GOP nominee David McCormick for the Pennsylvania senate seat, citing his friendlier stance on cryptocurrency.
What Happened: Armstrong took to X Sunday to back the Senate hopeful. &#8220;If you live in Pennsylvania, you should vote for Dave McCormick. He is the better candidate on crypto (among many other credentials),&#8221; Armstrong wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you live in Pennsylvania you should vote for <a href="https://twitter.com/DaveMcCormickPA?ref_src=twsrc%5Etfw">@DaveMcCormickPA</a> He is the better candidate on crypto (among many other credentials) <a href="https://t.co/BMFIVwB8NO">https://t.co/BMFIVwB8NO</a>
&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1848082903348965422?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41397551/riding-dogecoins-wave-indicators-point-to-what-could-happen-next?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Riding Dogecoin&#8217;s Wave: Indicators Point To What Could Happen Next</a>
The former CEO of Bridgewater Associates <a href="https://www.benzinga.com/government/23/09/34807903/he-ran-bridgewater-associates-now-hes-running-for-senate-in-pennsylvania-again">announced his candidacy last year</a>, aiming to unseat three-time incumbent Democratic Sen. Bob Casey Jr.
A U.S. Army veteran and former Treasury Department official, McCormick has publicly expressed his pro-cryptocurrency stance. He stated that American <a href="https://www.davemccormickpa.com/2024/03/26/america-must-lead-on-cryptocurrency/">leadership </a>in blockchain and cryptocurrency is important to the country&#8217;s economic and national security.
Interestingly, in May earlier this year, his <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38888214/reddit-co-founder-alexis-ohanian-highlights-democrats-including-chuck-schumer-who-crossed-">rival Casey crossed the party line to support a resolution</a> against the SEC&#8217;s anti-cryptocurrency SAB121. On the other hand, he cosponsored the Digital Asset Anti-Money Laundering Act of 2023, brought forward by anti-cryptocurrency crusader Sen. Elizabeth Warren (D-Mass.)
According to the cryptocurrency-based prediction market Polymarket, Donald Trump&nbsp;had a 57% chance, against Kamala Harris&#8217; 43%, of <a href="https://polymarket.com/event/pennsylvania-presidential-election-winner">winning </a>the popular vote in the key swing state. 
Why It Matters: Armstrong&#8217;s endorsement of McCormick was significant, given his position as the head of one of the world&#8217;s largest digital asset trading platforms. 
The cryptocurrency mogul had previously said that cryptocurrency is a non-partisan issue, with advocates from both sides of the political spectrum <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40123413/coinbase-ceo-brian-armstrong-was-asked-if-another-democratic-administration-would-prove-di">championing its cause</a>.
The company <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40699678/trump-campaign-more-explicit-in-embracing-crypto-says-coinbases-legal-head-but-encouraged-">revealed earlier this year</a> it was engaging with both the&nbsp;Trump&nbsp;campaign and the&nbsp;Harris&nbsp;campaign to push for regulatory clarity for the industry.
Did You Know?&nbsp;
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>

Politics

COIN

Coinbase CEO Brian Armstrong Supports Republican Dave Mccormick For Pennsylvania Senate Seat: 'He Is The Better Candidate On Crypto'

Wedbush Securities analyst Dan Ives forecasts a &#8220;robust&#8221; third-quarter earnings season for technology companies, citing artificial intelligence adoption, improved enterprise spending, and rebounding <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41280243/q3-earnings-preview-analyst-predicts-tech-will-triumph-while-energy-will-struggle">digital advertising as key growth drivers</a>.
What Happened: In a post on X, formerly Twitter, Ives highlighted an expanding roster of companies beyond traditional AI leaders that are now capitalizing on the technology revolution.
While NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are &#8220;the core drivers of AI, now we are seeing many other tech stalwarts join the AI Party,&#8221; Ives wrote, listing Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), ServiceNow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), IBM Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) among the companies making significant moves in artificial intelligence.
The analyst expressed optimism about the technology sector&#8217;s near-term prospects, stating, &#8220;We believe the next phase of the AI Revolution has begun.&#8221; He expects this momentum, combined with strengthening enterprise spending and a recovery in digital advertising, to push technology stocks higher through the end of the year.
This expanding AI landscape indicates a broader range of investment opportunities beyond the few companies that initially dominated the AI narrative earlier in the year, according to Ives.
<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">While Nvidia and Microsoft are the core drivers of AI, now we are seeing many other tech stalwarts join the AI Party including Oracle, SAP, ServiceNow, Palantir, Salesforce, Dell, IBM, Apple, and AMD among others &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f; <a href="https://t.co/kfpqGZYmYu">https://t.co/kfpqGZYmYu</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1848061647484760323?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>
Why It Matters: The anticipation of a strong third quarter for tech firms aligns with recent trends in the industry. Nvidia remains a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41410262/ai-creates-generational-opportunity-why-nvidia-analyst-says-stock-will-hit-190">top pick within the AI sector</a>, with analysts labeling it a &#8220;generational opportunity&#8221; due to its dominant market position in AI chips. 
This sentiment is echoed by Taiwan Semiconductor Mfg. Co. Ltd.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) recent earnings, which <a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips">exceeded expectations due to strong demand</a> for AI chips, further supporting the bullish outlook for tech companies.
Additionally, the third quarter earnings preview suggests that the tech sector is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41280243/q3-earnings-preview-analyst-predicts-tech-will-triumph-while-energy-will-struggle">poised to outperform</a>, while other sectors like energy may face challenges. 
This optimism is further supported by increased ad spending, as seen with Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), where analysts have raised price targets ahead of its earnings report, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41390020/analysts-lift-price-targets-on-meta-platforms-stock-ahead-of-q3-earnings-heres-why">driven by strong ad spending</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41401233/tech-bull-says-investors-should-take-advantage-of-amazon-stocks-period-of-relative-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tech Bull Says Investors Should Take &#8216;Advantage&#8217; Of Amazon Stock&#8217;s &#8216;Period Of Relative Underperformance&#8217; Ahead Of Q3 Earnings</a></li>
</ul>
Image Via Flickr
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

AAPL

DELL

MSFT

NVDA

ORCL

PLTR

Dan Ives Acknowledges Nvidia, Microsoft As 'Core Drivers Of AI' But Sees Palantir, IBM, AMD And Apple Joining The Party As Well — Robust Q3 Earnings Expected

Reported Earlier, People's Bank of China Loan Prime Rate 3.10% Vs. 3.15% Est.; 3.35% Prior

Reported Earlier, China Loan Prime Rate 5Y For October 3.60% Vs. 3.65% Est.; 3.85% Prior

OpenAI CEO Sam Altman has voiced his not-so-surprising support for Meta Platforms CEO Mark Zuckerberg in a <a href="https://www.benzinga.com/news/23/08/33699214/elon-musk-thinks-an-unconventional-cage-match-debate-with-zuckerberg-is-a-good-idea">hypothetical cage match</a> against Tesla and SpaceX boss Elon Musk.
What Happened: His comments came in an interview with Xfund&#8217;s Patrick Chung that took place at Harvard University on May 1 and was posted on Harvard Business School&#8217;s YouTube channel last week.
During a quick-fire question round, Altman was asked to pick between Musk and Zuckerberg, to which he promptly asked, &#8220;Like in a cage match?&#8221;
When Chang prodded further saying, &#8220;Who would you bet on,&#8221; Altman said, &#8220;Zuck in a cage match.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/10/41401752/nvidia-executive-defends-teslas-optimus-robots-amid-criticism-thats-a-huge-advancement-not-something?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Executive Defends Tesla&#8217;s &#8216;Optimus&#8217; Robots Amid Criticism: &#8216;That&#8217;s A Huge Advancement&#8230;Not Something That Should Be Downplayed&#8217;</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="A fireside chat with Sam Altman OpenAI CEO at Harvard University" width="500" height="281" src="https://www.youtube.com/embed/FVRHTWWEIz4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The <a href="https://www.benzinga.com/general/entertainment/23/08/33763649/zuckerberg-to-musk-is-it-all-talk-or-will-you-walk-the-cage-walk">concept of a &#8220;cage match&#8221;</a> between the two tech moguls gained traction last year, after Zuckerberg announced Threads, a new text-based social media platform as a potential rival to Musk&#8217;s X, formerly Twitter.
Musk, who <a href="https://www.benzinga.com/news/23/04/31810229/elon-musk-bought-twitter-1-year-ago-a-look-back-at-whats-happened-since-and-what-could-be-next">acquired Twitter for $44 billion</a> in October 2022, challenged Meta CEO for a cage match, which Zuckerberg accepted.
Musk continued to fuel the idea, suggesting Las Vegas as a potential venue and even hinting he might <a href="https://www.benzinga.com/general/gaming/23/08/33843834/knock-knock-whos-there-musk-challenges-zuckerberg-to-monday-night-fight-plans-to-live-stream-on-x">confront Zuckerberg at his home</a>. Zuckerberg, however, maintained a more cautious approach, expressing interest but waiting for concrete plans from Musk.
UFC president Dana White also confirmed that <a href="https://www.benzinga.com/news/24/03/37926826/elon-musk-vs-mark-zuckerberg-would-have-been-the-biggest-fight-ever-done-says-ufcs-dana-white">serious discussions were happening</a> behind the scenes. However, as of now, the potential cage match remains uncertain.
Earlier this year, Musk re-ignited this conversation by <a href="https://www.benzinga.com/news/24/07/39947719/elon-musk-says-he-will-fight-mark-zuckerberg-any-place-any-time-any-rules-cage-match-vibes-anyone">publicly challenging</a> Zuckerberg. The Tesla CEO later <a href="https://www.benzinga.com/general/politics/24/07/40086207/move-over-zuckerberg-musk-now-has-a-fight-with-venezuela-president-maduro-on-his-mind-if-i-win-h">proposed a fight</a> with Venezuela&#8217;s President Nicolas Maduro.
Meanwhile, the feud between Musk and Altman has also escalated. Last month, Musk <a href="https://www.benzinga.com/news/24/09/41039287/elon-musk-isnt-pleased-that-sam-altman-likely-to-get-7-stake-after-chatgpt-parents-planned-for-profi">expressed displeasure</a> over Altman&#8217;s potential 7% stake in OpenAI, the AI startup he helped co-found in 2015, following its transition to a for-profit entity.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41418188/ai-power-demand-skyrockets-nvidia-ceo-lauds-openai-and-teslas-optimus-robots-assisted-by-humans-this?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Power Demand Skyrockets, Nvidia CEO Lauds OpenAI, And Tesla&#8217;s Optimus Robots Assisted By Humans: This Week In AI</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Mark Zuckerberg Or Elon Musk? OpenAI CEO Sam Altman Says He'd Back This Tech Titan In A Cage Fight

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) continues to face significant headwinds in its automotive business, with concerns mounting over sustained margin pressure and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41415287/tesla-bull-gene-munster-breaks-down-ev-giants-robotaxi-plans-and-future-of-autonomy">underperformance against broader tech indices</a>, according to an analysis from The Future Fund LLC.
What Happened: Gary Black, managing partner at The Future Fund, emphasizes his firm&#8217;s analytical approach to valuation, notably excluding potential revenue from robotaxis and Optimus until competitive dynamics and economics become clearer.
Black, highlighted Tesla&#8217;s recent underperformance, noting a 24% decline against the Nasdaq 100&#8217;s 32% gain over three years. However, Future Fund maintains a long position in Tesla, citing robust global EV adoption trends and expansion opportunities.
&#8220;Global EV adoption continues to surge, from 15% today to 50% by 2030, representing a 25.8% CAGR,&#8221; Black noted on X, formerly Twitter. The firm projects Tesla can maintain its market share by entering new segments, including a $25-30K compact vehicle, robotaxi services, and small pickups.
Future Fund&#8217;s detailed valuation model includes:
<ul>
<li>2030 delivery target of 8.8 million vehicles</li>
<li>Projected adjusted EPS of $15.00</li>
<li>Price target of $270, based on a 1.5x PEG ratio and 25% forward EPS growth</li>
<li>2030 valuation of $562, discounted at a 14.2% cost of equity</li>
</ul>
&#8220;We realize many $TSLA investors disdain our analytical-based approach to TSLA valuation, but that's how the investment world works. One can't just make up valuations out of thin air.&#8221; Black wrote. 
Black explained that The Future Fund models EV demand and market share, FSD adoption rates, energy, and services. However, they refrain from including Robotaxi or Optimus in their valuation until they can evaluate the competitive dynamics and economics of these future products. 
The firm believes that multiple automakers will be approved for generalized unsupervised autonomy around the same time, suggesting that a demand-driven model is more appropriate for valuation rather than a supply-driven one.
Near-term challenges include:
<ul>
<li>Auto loan interest rates of 0.99% globally</li>
<li>Negative Cybertruck margins</li>
<li>Limited scale production, with Q3 Cybertruck deliveries estimated at 13,500 units</li>
</ul>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> to start moving higher after 3 years of underperformance (TSLA -24% vs NDX +32%), the negative earnings trajectory of the past few years has to reverse (FY'24 Adj EPS -49% over past 12 months, FY'25 Adj EPS -47%, FY'28 Adj EPS -40%). WS's focus in this week's earnings… <a href="https://t.co/VxwpQ1hs4t">pic.twitter.com/VxwpQ1hs4t</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1848157662657032526?ref_src=twsrc%5Etfw">October 21, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/insights/options/24/10/41411253/palantir-technologies-unusual-options-activity?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Technologies Unusual Options Activity</a>
Why It Matters: Tesla&#8217;s financial performance is crucial as the company navigates a series of strategic shifts. Recently, Tesla showcased its <a href="https://www.benzinga.com/news/24/10/41376564/tesla-showcases-optimus-autonomous-navigation-charging-abilities-after-admitting-they-were-human-ass">Optimus humanoid robot</a>, demonstrating advancements in autonomous navigation and charging capabilities. 
This move aligns with Tesla&#8217;s broader vision for autonomy, a field where Waymo co-founder Anthony Levandowski sees Tesla having an edge due to its <a href="https://www.benzinga.com/news/24/10/41355911/waymo-co-founder-says-tesla-has-an-advantage-in-race-to-autonomous-driving-id-rather-be-in-teslas-sh">extensive data collection</a>.
Additionally, Tesla&#8217;s recent <a href="https://www.benzinga.com/news/24/10/41378568/tesla-promotes-key-executives-and-gives-them-more-responsibilities-in-leadership-shuffle">executive promotions</a> indicate a strategic realignment to bolster its sales and manufacturing operations. 
These developments come as Gene Munster from Deepwater Asset Management discusses Tesla&#8217;s ambitious plans for robotaxis, which could revolutionize transportation and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41415287/tesla-bull-gene-munster-breaks-down-ev-giants-robotaxi-plans-and-future-of-autonomy">save significant time and resources</a>.
Price Action: Tesla Inc. closed at $220.70 on Friday, down 0.086%. In after-hours trading, the stock further declined 0.25%. Year to date, Tesla&#8217;s stock has decreased by 11.16%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41417379/nvidia-stock-is-up-over-233-in-the-past-year-and-tech-bulls-say-it-could-go-even-hi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Is Up Over 233% In The Past Year And Tech Bulls Say It Could Go Even Higher From Here: &#8216;…You&#8217;ll See The Stock Double Over The Next Several Years&#8217;</a>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gary Black Explains Why He Doesn't Factor In Robotaxi Or Optimus To Tesla Valuation: Investors May Not Like  Analytical Approach, But That's How 'Investment World Works'

A well-known cryptocurrency analyst issued a bullish prediction for Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), coinciding with a significant jump in the token&#8217;s burn rate over the last 24 hours. 
What Happened: On Sunday, widely followed X personality Kevin observed a &#8220;rounding bottom formation with an inverse head-and-shoulders&#8221; pattern for the popular dog-themed meme coin, prompting a massive 50% price increase projection.
For those unaware, inverse head-and-shoulders is a key chart pattern that signals a potential shift from a bearish to a bullish trend.
<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"><a href="https://twitter.com/hashtag/ShibaInu?src=hash&amp;ref_src=twsrc%5Etfw">#ShibaInu</a> has formed a very nice rounding bottom formation with a inverse head n shoulders. Price target is 50% higher from here at the macro golden pocket and .703 Fib. <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://t.co/TfDys7imBT">pic.twitter.com/TfDys7imBT</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1848111840213225502?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Additionally, Shiba Inu&#8217;s Moving Average Convergence Divergence (MACD) indicator flashed a buy signal, <a href="https://in.tradingview.com/symbols/SHIBUSD/technicals/">according </a>to data from charting platform TradingView. 
The MACD is primarily used to gauge an asset's overall trend. When the MACD line crosses above the signal line, it is interpreted as bullish.
In another development, the coin&#8217;s burn rate <a href="https://www.shibburn.com/">spiked </a>389% in the last 24 hours, with nearly 6.3 million SHIBs going up in smoke and exerting more deflationary pressure on the cryptocurrency. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41415299/bitcoin-predicted-to-hit-6-figure-price-in-2025-bitwise-ceo-says-next-year-will-be-">Bitcoin Predicted To Hit 6-Figure Price In 2025, Bitwise CEO Says Next Year Will Be &#8216;Exceptional&#8217; For King Crypto</a>
Why It Matters: The second-largest meme coin by market valuation has been on a roll over the month, gaining over 32%. 
An <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41411471/dogecoin-killer-shiba-inu-is-the-obvious-catch-up-play-for-those-who-missed-doge-rally-tra">unknown whale recently withdrew</a> 105.9 billion SHIB, valued at $1.99 million, from cryptocurrency exchange Coinbase, signaling strong accumulation and anticipation for future price rises.
Kevin&#8217;s prediction aligns with the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41420178/bitcoin-ethereum-dogecoin-on-the-rise-as-uptober-may-be-finally-here-analysts-predict-bull">current bullish trend</a> in the cryptocurrency market. Leading cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) have rallied sharply in recent days, boosting expectations for new all-time highs.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001897, up 1.98% 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>. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41411471/dogecoin-killer-shiba-inu-is-the-obvious-catch-up-play-for-those-who-missed-doge-rally-tra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">FBI Arrests Alabama Man Who Allegedly Hacked</a><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41415033/fbi-arrests-alabama-man-who-allegedly-hacked-secs-x-account-to-prematurely-announce-bitcoi"> SEC&#8217;s X Account To Prematurely Announce Bitcoin ETF Approval</a></li>
</ul>

$ETH

$SHIB

Shiba Inu Ready For A Lift-Off To The Moon? Popular Analyst Predicts 50% Surge For Memecoin As Burn Rate Spikes 389%

Amid the U.S. chip sanctions, Chinese artificial intelligence firms, including&nbsp;01.ai,&nbsp;Alibaba Group Holding Ltd&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), and&nbsp;ByteDance, are making strides in reducing AI costs.
What Happened: Chinese AI companies, including startups like 01.ai and DeepSeek, and giants like Alibaba, Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), and ByteDance, are driving down AI model costs.
They are focusing on smaller data sets, hiring cheaper engineering talent, and optimizing hardware, <a href="https://www.ft.com/content/0a6da1bb-2bda-40f3-9645-97877eb0947c">reported</a> the Financial Times.
These companies have cut &#8220;inference&#8221; costs—the price to generate responses from AI models—by over 90%, offering much cheaper rates compared to their Western counterparts like OpenAI, the parent company of ChatGPT.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41373962/trump-campaigns-snapchat-absence-potentially-gives-harris-edge-among-young-voters?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Campaign&#8217;s Snapchat Absence Potentially Gives Harris Edge Among Young Voters</a>
01.ai, led by former Google China head Lee Kai-Fu, has managed to&nbsp;cut inference costs by building&nbsp;a model&nbsp;that requires less computing power&nbsp;and optimizing its hardware.
&#8220;China&#8217;s&nbsp;strength is to make really&nbsp;affordable inference engines and then&nbsp;to let applications proliferate,&#8221;&nbsp;Lee told the publication.
Many Chinese AI companies are using a &#8220;model-of-expert&#8221; approach, which trains multiple specialized neural networks rather than a single dense model.
&#8220;China's strength is not doing the best breakthrough research that no one has done before where the budget has no limit,&#8221; stated Lee. &#8220;China's strength is to build well, build fast, build reliably and build cheap.&#8221;
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Why It Matters: This is a significant achievement, considering the challenges posed by Washington&#8217;s ban on exports of high-end Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI chips, which are crucial for developing advanced models in the US.
Earlier this month, it was reported that China has informally urged its companies to <a href="https://www.benzinga.com/government/24/10/41204521/nvidias-gpu-sales-at-risk-as-china-pushes-local-ai-chips-in-retaliation">prioritize domestic AI chips</a> over those from Nvidia, potentially affecting the Jensen Huang-led company&#8217;s GPU sales.
Chinese AI firms have also been making significant strides. Alibaba, for instance, <a href="https://www.benzinga.com/startups/24/09/41052368/chinas-alibaba-just-launched-a-wave-of-100-open-source-ai-models-including-a-text-to-video-tool-that">launched over 100 open-source AI models</a> last month. This move was seen as a bold step to outpace rivals both domestically and internationally.
Chinese tech giants Alibaba and Tencent have been ramping up their <a href="https://www.benzinga.com/markets/asia/24/08/40480304/chinese-tech-giants-alibaba-and-tencent-ramp-up-ai-investments-with-nearly-a-third-of-deals-since-20">investments in AI startups</a>, with nearly a third of their deals since 2023 aimed at AI startups.

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 AI tools and was reviewed and published by Benzinga editors.

Media

BABA

BIDU

OpenAI's Chinese Cousins Alibaba, And ByteDance Are Slashing AI Costs And Defying US Chip Sanctions: Beijing's Strength Is To 'Build Fast, Build Reliably And Build Cheap'

Former President Barack Obama took to X to wish Kamala Harris a happy birthday and endorse her presidential campaign.
What Happened: On Sunday, the former president said on the platform. &#8220;She has spent her life fighting on behalf of people who need a voice and a chance—now it's our turn to help elect her as our next president,&#8221; he tweeted.
<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">Happy birthday to my friend <a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a>! She has spent her life fighting on behalf of people who need a voice and a chance—now it's our turn to help elect her as our next president. Make sure you&#39;re ready to vote at <a href="https://t.co/NKXRGNgbZX">https://t.co/NKXRGNgbZX</a>. <a href="https://t.co/6W20I2btDB">pic.twitter.com/6W20I2btDB</a>
&mdash; Barack Obama (@BarackObama) <a href="https://twitter.com/BarackObama/status/1848077416826110200?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/10/41417224/trump-unleashes-scathing-attack-on-former-friend-mark-cuban-after-billionaire-criticizes-ex-presiden?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Unleashes Scathing Attack On Former Friend Mark Cuban After Billionaire Criticizes Ex-President&#8217;s T</a>
Harris turned 60 years old on October 20. She was born in 1964. Her Republican opponent Donald Trump was born in 1946 and is 78 years old.
President Joe Biden also extended birthday wishes to Harris and called a &#8220;dear friend, partner, and a remarkable leader.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Happy Birthday to my dear friend, partner, and a remarkable leader – Kamala Harris. <a href="https://t.co/nIBz7zjAvx">pic.twitter.com/nIBz7zjAvx</a>
&mdash; President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1848008935178977714?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
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This endorsement from Obama comes at a crucial time in the election cycle. Recent polls show former President Trump leading Harris, with a 52% chance of winning the presidency compared to Harris&#8217;s 42%, according to a latest poll. This is a <a href="https://www.benzinga.com/news/24/10/41419769/trump-leads-harris-ex-president-improves-polling-averages-in-these-2-key-battleground-states-poll-sh">significant shift</a> from late August when Harris was leading with a 54 to 56% chance, and Trump was trailing with a 44 to 46% chance.
Why It Matters: Obama&#8217;s endorsement could potentially sway voters in this tight race. His support for Harris is not new, as he has been <a href="https://www.benzinga.com/news/24/10/41415466/obama-criticizes-trumps-town-hall-appearance-at-arizona-rally-you-would-be-worried-if-your-grandpa-w">vocal about his endorsement</a> and has criticized Trump&#8217;s leadership in previous rallies and social media posts.
Earlier this month, Obama <a href="https://www.benzinga.com/news/24/10/41284435/obama-compares-trumps-behavior-with-fidel-castro-he-has-not-stopped-whining-about-his-problems-since">compared</a> Trump&#8217;s behavior to that of Fidel Castro, stating that Trump has not stopped &#8220;whining about his problems&#8221; since his initial presidential campaign. 
Meanwhile, former Trump was <a href="https://www.benzinga.com/news/24/10/41419892/trump-turns-up-to-serve-fries-at-mcdonalds-i-could-do-this-all-day-i-wouldnt-mind-this-job">spotted serving customers</a> at a McDonald's drive-thru in Pennsylvania — a key wing state. He swapped his suit jacket for an apron. While at the fry station, he ridiculed Kamala Harris&#8217;s past work at McDonald's, calling it a fun experience. Videos of the event were shared online.
Trump while working the drive-through also wished the vice president &#8220;Happy Birthday.&#8221; He said, &#8220;She&#8217;s turning 60.&#8221; When asked if he would get her some fries, he said, &#8220;I think i&#8217;d get her some flowers.&#8221; Then changing his mind again he said he would get her McDonalds.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING &#x1f6a8; Donald Trump wishes Kamala Harris a Happy Birthday while working at McDonald's. This is the guy they compare to Hitler. This is the guy they claim is a threat to democracy. This is the guy they tried to kill not once but twice. <a href="https://t.co/5PcFBN3jjP">pic.twitter.com/5PcFBN3jjP</a>
&mdash; Cinema Shogun (@CinemaShogun) <a href="https://twitter.com/CinemaShogun/status/1848112028797592044?ref_src=twsrc%5Etfw">October 20, 2024</a></blockquote>
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Photo courtesy: Wikimedia
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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>

General

Kamala Harris Turns 60 — Gets Birthday Greetings From Obama, Biden And Even Donald Trump: Republican Opponent Says, 'I Think I'd Get Her Some Flowers'

Perplexity, an artificial intelligence startup, is in discussions to raise its valuation to $8 billion or higher in its latest funding round, a significant increase from its previous valuation of $3 billion.
What Happened: The San Francisco-based company, which has seen its valuation triple in the past year, is looking to raise approximately $500 million in its fourth funding round, <a href="https://www.wsj.com/tech/ai/ai-startup-perplexity-in-funding-talks-to-more-than-double-valuation-to-8-billion-54d36787?mod=latest_headlines">reported</a> The Wall Street Journal on Sunday, citing people familiar with the matter. The funding would be a test of investor interest in high-growth AI startups.
Perplexity, founded two years ago and backed by Amazon.com Inc. founder Jeff Bezos, is a search-based chatbot that provides real-time information. The company&#8217;s annualized revenue is currently around $50 million, up from $10 million in March.
Despite its rapid growth, Perplexity has faced criticism from web publishers for using their content without permission. The New York Times has even sent a &#8220;cease and desist&#8221; notice to the startup.
Perplexity did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/esg/24/10/41409688/this-small-cap-nuclear-stock-is-up-over-100-in-a-month-will-it-keep-generating-momentum?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Small-Cap Nuclear Stock Is Up Over 100% In A Month: Will It Keep Generating Momentum?</a>
Why It Matters: Perplexity has been making significant strides in the AI industry. In September, the company was reportedly <a href="https://www.benzinga.com/news/24/09/40972869/jeff-bezos-backed-perplexity-ai-in-discussion-with-marriott-and-nike-as-it-prepares-to-challenge-to">in talks with top brands like Nike Inc.</a> and Marriott International as it prepared to challenge Google&#8217;s dominance in the digital ads industry. In August, its revenue and usage skyrocketed <a href="https://www.benzinga.com/general/entrepreneurship/24/08/40292703/perplexity-ais-revenue-usage-skyrocket-as-it-enters-into-advertising">after it entered into advertising</a>.
Perplexity&#8217;s CEO, Aravind Srinivas, has been vocal about challenging the duopoly of Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary Google and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) in the search and advertising industry.
Perplexity is also in discussions with major brands like Nike Inc. and Marriott International to develop a &#8220;sponsored&#8221; question system, aiming to disrupt <a href="https://www.benzinga.com/news/24/09/40972869/jeff-bezos-backed-perplexity-ai-in-discussion-with-marriott-and-nike-as-it-prepares-to-challenge-to">Google&#8217;s auction-based ads model</a>.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Press Releases

Lundbeck to Acquire Longboard Pharmaceuticals in a Strategic Deal, Significantly Enhancing Its Neuroscience Pipeline

LBPH Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Longboard Pharmaceuticals, Inc. Is Fair to Shareholders

Shareholder Alert: Ademi LLP Investigates Whether Longboard Pharmaceuticals, Inc. Is Obtaining a Fair Price for Its Public Shareholders

ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Longboard Pharmaceuticals, Inc.

Kuehn Law Encourages PRMW, FBMS, EVRI, and LBPH Investors to Contact Law Firm

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates LBPH, MNTX, INSI, ALTM on Behalf of Shareholders

STOCKHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Merger of Longboard Pharmaceuticals, Inc. - LBPH

Legal

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates LBPH and OB on Behalf of Shareholders

LONGBOARD PHARMACEUTICALS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Longboard Pharmaceuticals, Inc. - LBPH

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