Latest News for Athens Water Supply Stock (OTC:AHWSF)

Athens Water Supply & Sewerage Co is a Greek water supply, refinement, and waste management company. The company operates primarily in various municipalities in the Attica region of Southern Greece. Key segments include water supply, sewerage, and wastewater treatment, and energy. The energy segment is involved in power generation through hydropower, natural gas, and solar energy. The company derives the majority of its revenue from commercial and residential consumers. The company also sells to industrial and local authorities.

ATHENS WTR&SWGE PUB EYDAP by Athens Water & Sewage Public Co. Eydap

Athens Water Supply & Sewerage Co

Investor Ross Gerber criticized Elon Musk for redirecting Nvidia chips meant for Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to his social media company, X, and xAI.
What Happened: Gerber, a Tesla investor, commented during CNBC&#8217;s &#8220;Last Call&#8221; on Tuesday, on Musk&#8217;s explanation that Tesla had no facilities to activate the Nvidia chips, which would have otherwise sat idle in a warehouse.
&#8220;To say that you don't have room for something is a weird excuse for the biggest factory I've ever seen,&#8221; he said.
Gerber added that Musk&#8217;s motivation for diverting the chips is to focus on robotics and &#8220;robotaxi idea&#8221; at xAI over autonomous self-driving. 
&#8220;Full self-driving is one solution of AI. So, by using xAI, he controls the brains that would control everything else and that&#8217;s what this is all about,&#8221; he added.
See Also: <a href="https://www.benzinga.com/news/24/06/39126933/nvidias-race-with-apple-ark-invests-big-moves-and-ais-future-in-smartphones-top-updates-this-week-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Race With Apple, Ark Invest&#8217;s Big Moves And AI&#8217;s Future In Smartphones: Top Updates This Week In</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"To say that you don't have room for something is a weird excuse for the biggest factory I've ever seen," says <a href="https://twitter.com/GerberKawasaki?ref_src=twsrc%5Etfw">@GerberKawasaki</a> on <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>'s response to reporting that he told Nvidia to ship AI chips reserved for Tesla to X and xAI. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> <a href="https://t.co/vsSK3ftkGe">pic.twitter.com/vsSK3ftkGe</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1798138846426665046?ref_src=twsrc%5Etfw">June 4, 2024</a></blockquote>
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Why It Matters: The <a href="https://www.benzinga.com/news/24/06/39162545/nvidia-emails-reveal-musks-gpu-shuffle-whats-at-stake-for-teslas-ai-robotics-future">redirection of 12,000 Nvidia H100 GPUs </a>from Tesla to X and xAI has significant implications. This move could delay Tesla&#8217;s supercomputer development, which is crucial for its AI and robotics advancements.
Musk defended his decision by stating that <a href="https://www.benzinga.com/news/24/06/39175635/tesla-had-no-place-to-send-the-nvidia-chips-says-elon-musk-after-report-suggests-he-diverted-thousan">Tesla had no immediate use for the chips</a>, and they would have just sat in a warehouse. He mentioned that the south extension of Giga Texas, which will house 50,000 H100s for Full Self-Driving (FSD) training, is nearing completion.
However, this explanation has not quelled concerns. Critics argue that the redirection could hinder Tesla&#8217;s progress in AI and self-driving technology, areas where the company has heavily invested.
Price Action: According to<a href="https://pro.benzinga.com"> Benzinga Pro</a>, on Tuesday, Tesla stock closed 0.86% lower at $174.77 while Nvidia closed 1.25% higher at $1,164.37.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39130720/amd-shares-rise-pre-market-after-semiconductor-giant-unveils-new-ai-chips-to-challenge-jensen-hu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AMD Shares Rise Pre-Market After Semiconductor Giant Unveils New AI Chips To Challenge Jensen Huang&#8217;s $2.7 Trillion Nvidia Empire</a>
Photo 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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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Markets

General

TSLA

Tesla Investor Ross Gerber Thinks Elon Musk's Decision To Redirect Nvidia AI Chips To X, xAI Is A 'Weird Excuse'

The Notes will be general unsecured obligations of the Company and bear interest at a rate of&nbsp;0.75%&nbsp;per year, payable semiannually in arrears on&nbsp;June 15&nbsp;and&nbsp;December 15&nbsp;of each year, beginning on&nbsp;December 15, 2024.&nbsp;

TCOM

Reported Earlier, Trip.com Prices Offering Of $1.3B Cash-Par Settled Convertible Senior Notes Due 2029

<ul>
<li>Hyundai reveals first official images of &#39;Na Oh&#39;, the new restaurant in collaboration with the world&#39;s first Korean chef to earn Three Michelin Stars</li>
<li>Opening&nbsp;June 15, 2024, new restaurant &#39;Na Oh&#39; will connect food, tradition and innovation as part of the customer experience</li>
<li>Chef&nbsp;Corey Lee&nbsp;to introduce a new casual dining concept with a 4-course prix&nbsp;fixe menu</li>
</ul>

HYMTF

Reported Earlier, Hyundai Motors And Chef Corey Lee Team Up For 'Na Oh', A New Casual Dining Venture In Singapore

Elon Musk&#8216;s SpaceX has finally received regulatory approvals from the Federal Aviation Administration (FAA) for the upcoming flight test of its<a href="https://www.benzinga.com/news/24/05/38958442/spacex-ceo-elon-musk-reveals-starship-taking-aim-at-florida-launch-with-2-towers-and-far-better-allo"> Starship launch vehicle</a>.
What Happened: The FAA issued the approval on June 4, allowing SpaceX to go ahead with its timeline of launching Starship for the fourth time on June 6. The launch window opens as early as 7 a.m. CT on Thursday.
Starship is touted as the world's most powerful launch vehicle, standing 121 meters tall and weighing approximately 5,000 tonnes. It consists of two stages: the Starship spacecraft and the Super Heavy rocket.
For the upcoming test, the company aims to achieve a soft splashdown of the Super Heavy booster in the Gulf of Mexico and a controlled re-entry and splashdown of the Starship in the Indian Ocean. SpaceX has implemented software and hardware upgrades to Starship since its last flight test to meet these objectives.
Why It Matters:&nbsp;During Starship&#8217;s&nbsp;<a href="https://www.benzinga.com/news/24/03/37737774/starships-hour-long-third-flight-leaves-spacex-ceo-elon-musk-nasa-hopeful-despite-breakdown-over-ind" target="_blank" rel="noreferrer noopener">previous flight test</a>&nbsp;on March 14, the spacecraft lost contact and broke apart while re-entering the atmosphere instead of splashing down in the Indian Ocean as planned. The booster also lost contact before achieving a soft splashdown in the Gulf of Mexico. The entire flight lasted about an hour.
SpaceX launched the Starship twice last year — first in April and then in November.
NASA is currently relying on the success of Starship to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/12/36296253/51-years-since-apollo-17-elon-musk-urges-humanity-to-surpass-moon-visit-as-civilizational-high-water" rel="noreferrer noopener">land humans back on the moon</a>&nbsp;as part of its Artemis program. The last crewed lunar mission occurred in 1972 with Apollo 17. Since then, no crew has traveled beyond low-Earth orbit.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/06/39159541/really-an-incredible-person-jim-farley-says-theres-respectful-rivalry-with-tesla-ceo-elon-musk-outli">&#8216;Really An Incredible Person:&#8217; Jim Farley Says There&#8217;s Respectful Rivalry With Tesla CEO Elon Musk, Outlines How Ford Charts Its Own EV Course</a>
Image via Shutterstock

SPACE

Tech

SpaceX's Starship Cleared For 4th Liftoff: FAA Greenlights June 6 Test Launch

Generative AI SuperClusters, Integrated with NVIDIA AI Enterprise and NIM Microservices, Offer Instant ROI Gains and More AI Work per Dollar Through a Massively Scalable Compute Unit, Simplifying AI for Rapid Deployment

SMCI

Reported Earlier, Supermicro Launches Plug-and-Play AI SuperClusters For Enhanced NVIDIA Blackwell And HGX Performance

The Hashgraph Association, who recently&nbsp;<a href="https://www.globenewswire.com/Tracker?data=bUWbGZdj41rxKoeifSHJdLF9-DfHiSHhnpLERgLEoALmkQ-ouMlY7JyLcjxy32-96qAF8Xgcdn2ReMKsPVkSr9wMtlqGIQhMMGXa2B0I3Vk7MmmiKM2mtNwmyQ1h89unk4FzeroNzIDWWBo6hwjtotLv-dWrWtu0voihd81NP4vAsfetAwPqs5rW6o1vh8an-46_huaI8JiY_xuFg6qSHoMHd2xvNi5lyJKgxrpfouwgzTaafZSJ7N-BDDxEdJYesM3ii_RjKo2l3Nsh9iDohhgWoFWY9uxmpbnpjdX8mWzVviWmPX0QKDORdKk7-fDr" target="_blank">announced</a>&nbsp;the launching of a&nbsp;$250 million&nbsp;Deep Tech Studio with the Saudi Ministry of Investment, aimed at developing technological solutions, including blockchain and artificial intelligence, for local businesses in Saudi Arabia, will work closely with WISeKey and its partners in Saudi Arabia (E.A. Juffali &amp; Brothers Group) to offer a robust decentralized ledger technology that will enhance the security and efficiencies of IoT, Blockchain, and DePIN applications and solutions across Saudi Arabia and MENA region.

LAES

WKEY

SEALSQ And WISeKey Team Up with The Hashgraph Association To Enhance Saudi Arabia's Digital Infrastructure

Shytoshi Kusama,&nbsp;the mysterious lead developer and co-founder of the&nbsp;Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) project, shared intriguing updates from his Middle East trip, sparking curiosity among the memecoin&#8217;s fanbase.
What Happened: On Tuesday, Kusama posted about his experiences in the Middle East, expressing his admiration for the culture and his connections there. He wrote &#8220;On my way out the Middle East and it has been an incredible time meeting and understanding the culture of my cousins.&#8221;
The cryptic post, referencing &#8220;cousins&#8221; and the Arabic-language expression, &#8220;Inshallah,&#8221; meaning &#8220;God willing,&#8221; left the community in intrigue, with many seeing it as a warm gesture to connect with the Middle East cryptocurrency community.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On my way out the Middle East and it has been an incredible time meeting and understanding the culture of my cousins. <a href="https://twitter.com/hashtag/love?src=hash&amp;ref_src=twsrc%5Etfw">#love</a> <a href="https://twitter.com/hashtag/inshallah?src=hash&amp;ref_src=twsrc%5Etfw">#inshallah</a> <a href="https://twitter.com/hashtag/shibarmystrong?src=hash&amp;ref_src=twsrc%5Etfw">#shibarmystrong</a>
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1797872696870785509?ref_src=twsrc%5Etfw">June 4, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39127538/massive-shiba-inu-burn-ignites-hope-for-price-recovery-despite-market-downturn?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Massive Shiba Inu Burn Ignites Hope For Price Recovery Despite Market Downturn</a>
The post hinted at potential partnerships with Middle East policymakers, investment firms, and cryptocurrency trading platforms.
Why It Matters: Shytoshi Kusam has a history of sharing cryptic messages hinting at potential developments. 
Last month, he shared a cryptic &#8216;EVITA&#8217; teaser, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38692405/shiba-inu-lead-shytoshi-kusama-shares-cryptic-evita-teaser-a-sign-of-potential-investments">which was interpreted by many as a hint towards investments</a> in Argentina.
Kusama&#8217;s post should also be considered in light of <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38362524/crypto-trader-explains-why-middle-east-billionaires-are-suddenly-interested-in-launching-m">memecoins&#8217; growing popularity in the region</a>. Some of the wealthiest individuals in Dubai, Qatar, and Kuwait have expressed strong interest in trading and launching memecoins of their own.
Meanwhile, SHIB&#8217;s burn rate fell nearly 100% in the last 24 hours, <a href="https://www.shibburn.com/">according </a>to the official burn tracker.
Price Action: At the time of writing, SHIB was exchanging hands at $0.0000258, following a 8.42% surge 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: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p">Sam Altman-Founded Worldcoin&#8217;s Suspension Extended In Spain, Crypto Plunges 55% Since March Peak</a>
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.

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

Cryptocurrency

$SHIB

Shiba Inu Lead Developer Shytoshi Kusama Ignites Excitement With Cryptic Middle East Post, Memecoin Bounces 8%

Following Rubio&#8217;s Coastal Grill announcing the abrupt closure of 48 restaurants in California citing rising business costs, billionaire entrepreneur&nbsp;Mark Cuban&nbsp;has come forward to defend the <a href="https://www.benzinga.com/general/24/04/38093034/impact-of-californias-wage-hike-chipotle-mcdonalds-and-starbucks-brace-consumers-for-price-surges-ac">recent increase in minimum wage</a>.
What Happened: Collin Rugg, owner of Trending Politics, took to X, formerly Twitter, and shared his take on the restaurant chain closing. Rubio&#8217;s decision came after a law was signed by California Governor Gavin Newsom that raised the&nbsp;minimum wage for fast-food workers&nbsp;from $16 to $20.
Rugg took a potshot at Cuban and President Joe Biden saying, &#8220;Don&#8217;t worry, folks. The economy has never been better. Biden and @mcuban said so.&#8221;
In response, Caban, one of the most famous investors on the TV show &#8220;Shark Tank,&#8221; said that underpaid workers often rely more on government services, which are funded by taxpayers. &#8220;When&nbsp;companies pay less than what&nbsp;someone needs to live a&nbsp;basic life, it's often the&nbsp;taxpayers that subsidize the difference.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/06/39126577/paul-krugman-says-inflation-bump-is-over-jamie-dimon-warns-of-potential-stagflation-and-more-this-we?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Paul Krugman Says &#8216;Inflation Bump Is Over,&#8217; Jamie Dimon Warns Of Potential Stagflation And More: This Week In Economics</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Selling underperforming businesses for $$$$. Capitalism at its best. I applaud it. Serious question: What do you do with the employees? Do you place the employees in jobs at other businesses you own, do they go with the sold business? Will that business pay a "living wage"?
&mdash; Purpleiris (@Purpleiris68811) <a href="https://twitter.com/Purpleiris68811/status/1798155413093064786?ref_src=twsrc%5Etfw">June 5, 2024</a></blockquote>
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He also expressed his preference for paying higher wages and finding ways to increase productivity and profitability. &#8220;I literally gave raises to employees a few years ago because it was embarrassing to me that taxpayers might be subsidizing people who work for me,&#8221; he stated.
When a user shared concerns that a <a href="https://www.benzinga.com/news/23/05/32590034/7-25hour-no-longer-enough-survey-shows-what-americans-want-as-minimum-wage-amid-tough-times">high minimum wage could hinder</a> small businesses, Cuban disagreed saying he has invested in several small businesses on&nbsp;Shark Tank. 
Another user asked Cuban about his previous statement related to the <a href="https://www.benzinga.com/news/22/07/28225223/mark-cuban-shares-worst-shark-tank-investment-and-one-that-had-a-surprising-return-thanks-to-a-buyou-1">lack of profitability from the Shark Tank</a> investments, the billionaire investor said,&nbsp;&#8220;And we just sold a&nbsp;chunk of one of the&nbsp;companies. Now I'm way up.&#8221;
When another user questioned his treatment of employees in sold businesses, Cuban stated that he had&nbsp;paid out bonuses to every&nbsp;employee who had been with the company for more than a year.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In every business I&#39;ve sold I&#39;ve paid out bonuses to every employee that was there more than a year. <a href="https://t.co/02NdL9a41q">https://t.co/02NdL9a41q</a>, 300 out of 330 employees became millionaires. Microsolutions, I paid out 20 pct to our 80 employees. HDNet wasn&#39;t as big , but paid out about 20pct… <a href="https://t.co/hTvCZnVvUF">https://t.co/hTvCZnVvUF</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1798160475764531362?ref_src=twsrc%5Etfw">June 5, 2024</a></blockquote>
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Why It Matters: Last month, <a href="https://www.benzinga.com/news/24/05/39015615/mark-cuban-defends-bidens-economic-record-blames-trump-for-underperforming-obama-economy-he-inherite">Cuban&nbsp;supported Biden's economic policies</a>&nbsp;and criticized former President Donald Trump for not maintaining the wage growth trends he inherited from Barack Obama. His comments come amid criticism of Biden over the economy, with most Americans believing the U.S. is in a recession.
Previously, renowned economist Peter Schiff&nbsp;warned&nbsp;of a <a href="https://www.benzinga.com/news/24/05/39053365/once-the-dollar-breaks-down-peter-schiff-warns-of-run-away-inflation-investors-are-completely-unprep">potential financial crisis</a> due to &#8220;run-away inflation&#8221; and a weakening U.S. dollar. &#8220;Wall Street will be totally shocked by just how fast #inflation heats up. It will be an even bigger surprise than was the 2008 Financial Crisis,&#8221; he said in May.
Meanwhile, earlier it was reported that as California's minimum wage rises, giants like Chipotle, McDonald's, and Starbucks could <a href="https://www.benzinga.com/general/24/04/38093034/impact-of-californias-wage-hike-chipotle-mcdonalds-and-starbucks-brace-consumers-for-price-surges-ac">implement price hikes</a>. 
While the wage increase aims to uplift and empower workers, it presents a challenge for businesses, which must manage higher costs. These expenses are often passed on to consumers through increased product prices.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39131503/ex-treasury-secretary-larry-summers-warns-trumps-re-election-may-push-mortgage-rate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ex-Treasury Secretary Larry Summers Warns Trump&#8217;s Re-Election May Push Mortgage Rates Beyond 10%: &#8216;Never Been A Presidential Platform So Self-Evidently Inflationary&#8217;</a>
Photo by Joe Seer on Shutterstock
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.

Economics

Mark Cuban Takes a Stand on Minimum Wage Increase Following Rubio's Restaurant Closures: 'The Last Thing I Want Is Your Tax Dollars…'

Editor&#8217;s note: This article has been updated with Fisker&#8217;s response.
Certain former employees of beleaguered EV maker Fisker Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSRN#OTC">FSRN</a>) are reportedly of the opinion the company was <a href="https://www.benzinga.com/news/24/05/38916065/topgear-says-nearly-bankrupt-fiskers-ocean-arguably-better-built-than-teslas-blockbuster-model-y-but">not ready to sell cars</a> in the first place.
What Happened: Fisker did not plan for a stockpile of car parts in the U.S. in case of repairs, InsideEVs <a href="https://insideevs.com/news/721726/fisker-ocean-parts-inventory/">reported</a>, citing unnamed former Fisker employees. The company instead relied on sourcing components from disassembled cars, they said. 
"It became very clear to anybody looking that this was a company not ready for prime time—to sell a product, to have any kind of customer service," a former employee told the news site.
Fisker only bought enough parts for production and not repairs. So when Ocean customers started coming back with requests for repairs and part replacement, the company took it from the company&#8217;s production factory in Austria and shipped it to the U.S., three sources told the platform, making supply unpredictable. 
"No plan was ever made for service parts, no matter how much we asked," one source told InsideEVs. "By September, things were breaking and we had nothing to fix [them] with."
Components were also taken from donor cars to meet the scarcity, the report said, while adding that parts were occasionally transported from Austria to the U.S. in employees&#8217; personal luggage to expedite the process.
Fisker&#8217;s leadership allegedly reasoned the lack of spare parts saying Ocean would be well-built enough to rarely need replacement parts. "They truly thought they built the perfect car," a former employee said. 
Fisker, however, has denied these claims, the report noted. In a statement to Benzinga, a Fisker spokesperson said that the company &#8220;did plan to have a reserve based on internal forecasts,&#8221; adding that the allegation from media reports is &#8220;absolutely false.&#8221;
Fisker Closing-In On Bankruptcy:&nbsp;California-based Fisker in February warned it may not have enough funds to operate over the year. The company&#8217;s shares were delisted from the New York Stock Exchange the following month owing to low share prices and potential investment talks with a major automaker collapsed, leaving Fisker's financial future uncertain.
In April, the company said in a filing that it expects to seek&nbsp;<a href="https://www.benzinga.com/markets/equities/24/03/37766138/teslas-india-entry-hurdle-lifts-fisker-hurtling-toward-bankruptcy-rivian-gets-wall-streets-love-" target="_blank" rel="noreferrer noopener">protection under bankruptcy laws&nbsp;</a>within 30 days if unable to receive waivers from its debt holders or&nbsp;<a href="https://www.benzinga.com/news/24/04/38403521/fisker-to-file-for-bankruptcy-protection-in-30-days-if-unable-to-settle-debts-or-raise-capital" target="_blank" rel="noreferrer noopener">raise enough capital to settle its dues.</a> The company had unrestricted cash and cash equivalent of just $53.9 million as of April 16. 
In May, U.S. auto safety regulator National Highway Traffic Safety Administration&nbsp;<a href="https://www.benzinga.com/news/24/05/38757963/fiskers-troubles-mount-nhtsa-launches-new-probe-into-ocean-suvs-emergency-braking" target="_blank" rel="noreferrer noopener">opened a probe&nbsp;</a>into 6,813 model year 2023 Ocean SUVs over unintended activation of its automatic emergency braking system that increases the risks of a crash.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/06/39135581/youtuber-mkbhd-praises-lucid-air-sapphire-if-it-couldnt-be-a-tesla-it-would-have-to-be-this" target="_blank" rel="noreferrer noopener">YouTuber MKBHD Praises Lucid Air Sapphire: ‘If…It Couldn't Be A Tesla, It Would Have To Be This'</a>

Media

FSRN

Ex-Fisker Workers Accuse EV Startup Of Launching Products With No Repair Plan As 'They Truly Thought They Built The Perfect Car:' Report (UPDATED)

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) could <a href="https://www.benzinga.com/news/23/08/33641881/back-to-school-grab-the-ipad-mini-2021-in-a-steal-deal-at-399">soon launch its annual</a> Back to&nbsp;School promotion for university students&nbsp;in the U.S. and&nbsp;Canada, according to the ads that are making rounds on social media.
What Happened: On Instagram, Apple has been promoting its Macs to college and university students. The ad features a Back to School image with the text, &#8220;Buy Mac for university or college with education savings. Plus get a gift card for up to $200.&#8221;
MacRumors&#8217; Joe Rossignol shared one screenshot on X, formerly Twitter, citing Bloomberg columnist Mark Gurman as the first person who spotted it. &#8220;$200 in the caption is CAD, which suggests it'll be $150 USD like usual,&#8221; noted Rossignol.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here is an ad for Apple's Back to School promotion on my Instagram feed in Canada (so that $200 in the caption is CAD, which suggests it'll be $150 USD like usual). The promotion isn't actually live yet, so the ad is premature. First spotted on ⁦<a href="https://twitter.com/markgurman?ref_src=twsrc%5Etfw">@markgurman</a>⁩'s Discord. <a href="https://t.co/tgNpSEZTC6">pic.twitter.com/tgNpSEZTC6</a>
&mdash; Joe Rossignol (@rsgnl) <a href="https://twitter.com/rsgnl/status/1798105989071155531?ref_src=twsrc%5Etfw">June 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Clicking on the ad leads to Apple&#8217;s education website, where there is currently no mention of the back-to-school sale. However, in his latest weekly &#8220;Power On&#8221; newsletter, Gurman stated that the 2024 sale will not commence until later in the month, <a href="https://www.macrumors.com/2024/06/04/apple-back-to-school-2024-sale-soon/">reported</a> MacRumors.
Apple&#8217;s back-to-school sales typically offer students&nbsp;a free Apple gift card&nbsp;when purchasing a Mac or&nbsp;an iPad. Last year, U.S. students received&nbsp;up to $150 when purchasing&nbsp;a Mac and up to&nbsp;$100 when purchasing an iPad.
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:&nbsp;<a href="https://www.benzinga.com/news/24/06/39129016/iphone-16-destined-to-have-the-worlds-thinest-bezels-new-leak-reveals-it-could-outshine-current-reco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">iPhone 16 Destined To Have The World&#8217;s Thinest Bezels? New Leak Reveals It Could Outshine Current Record Holder Samsung Galaxy S24</a>
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.

AAPL

Apple's Upcoming Back To School Promotion Reportedly Features Gift Cards For Mac Buyers

Editor&#8217;s Note: A previous version of the article incorrectly added a market ticker to Fidelity Investments. The article has been updated to reflect the correction.
Fidelity Investments is reportedly pressuring ETF firms to pay for listing and maintaining their products on its platform, a move that has stirred up industry discontent.
What Happened: Fidelity, a major player in the investment space, has already secured agreements with nine boutique firms. This comes after the company warned them in March about potential charges for their ETF investors if they didn&#8217;t reach a deal, Bloomberg<a href="https://www.bloomberg.com/news/articles/2024-06-04/fidelity-piles-on-pressure-in-looming-revenue-plan-for-etf-firms?utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_content=business"> reported</a> on Tuesday. The company is now in discussions with other asset managers for similar revenue-sharing agreements.
Although maintenance fees are not new for mutual fund firms, they are less common for ETFs. This move could lead to increased expenses in a market known for its cost-conscious nature.
See Also: <a href="https://www.benzinga.com/markets/equities/24/06/39138985/berkshire-hathaway-chipotle-more-nyse-stocks-hit-with-trading-halts-triggered-by-technical-issue?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Berkshire Hathaway, Chipotle, More NYSE Stocks Hit With Trading Halts Triggered By Technical Issues (UPDA</a>
Under the proposed agreements, Fidelity would take 15% of total fund revenue. The company has also suggested a potential charge of up to $100 on investors who buy a fund from a firm that doesn&#8217;t agree to the deal.
Fidelity&#8217;s move is seen as an attempt to generate new industry revenues amid a shift from mutual funds to generally cheaper and more tax-efficient ETFs. Critics argue that this could stifle innovation in the ETF space and make it harder for new firms to operate.
Fidelity has yet to respond to queries emailed by <a href="http://pro.benzinga.com">Benzinga</a>.
Why It Matters: This move by Fidelity is significant in the context of its recent activities in the ETF space. In March, Fidelity added<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37820144/fidelity-adds-staking-to-ethereum-etf-application-but-analysts-dont-think-it-will-help"> staking to its proposed Ethereum ETF application</a>, aiming to allow ETF investors to earn additional income through staking rewards. 
In May, the company <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38939298/fidelity-files-amended-s-1-for-spot-ether-etf-with-sec">filed an amended S-1 application for its spot Ether ETF with the SEC</a>, a move that could mark a milestone in the mainstream adoption of Ethereum. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39128737/bitcoin-ethereum-dogecoin-trade-flat-as-market-uncertainty-persists-analyst-predicts-major?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Trade Flat As Market Uncertainty Persists: Analyst Predicts &#8216;Major Impulse&#8217; To $75K For King Crypto</a>
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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Broad U.S. Equity ETFs

ETFs

Fidelity Pushes For ETF Listing And Maintenance Fees After Threatening To Charge Investors If No Agreement Is Reached (CORRECTED)

The ban on Worldcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>), a blockchain-based identity verification project, has been extended until the end of 2024 in Spain.
What Happened: Tools for Humanity, a project contributor, has voluntarily extended the suspension of Worldcoin orb operations in Spain, <a href="https://www.theblock.co/post/298522/worldcoins-spain-ban-extended?utm_source=twitter&amp;utm_medium=social">The Block</a> reported. Worldcoin&#8217;s activities will remain suspended until the end of this year or until the completion of the GDPR audit by the Bavarian Data Protection Authority, the regulatory body overseeing the project throughout the EU.
The Worldcoin project, backed by Tools for Humanity, is designed to establish a system where individuals can authenticate their humanity. Participants receive WLD tokens as a reward for having their eyeballs scanned by a Worldcoin orb, which creates a World ID that verifies their personhood.
&nbsp;The Spanish Data Protection Authority&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37573206/sam-altmans-worldcoin-halts-id-verification-in-spain-amid-legal-tussle">ordered Worldcoin to halt its operations in March</a>, a decision that was legally challenged by Tools for Humanity. However, the ban was upheld by the Spanish National Court. 
Why It Matters: The ban extension reflects persistent issues with the novel project, which was launched by&nbsp;OpenAI&nbsp;Chief&nbsp;Sam Altman&nbsp;last year.
In May, Worldcoin was asked to <a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns">shut down all its operations in Hong Kong</a> due to risks to personal data privacy. Prior to this, it was banned in Portugal and Kenya.
The project collects people&#8217;s irises to authenticate their humanness and creates a digital ID, thereby making them eligible to receive free WLD tokens.&nbsp;However, this process has raised privacy concerns worldwide.
Price Action: WLD slipped 0.33% in the last 24 hours to trade at $4.79 as of this writing, 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>. The coin's value has halved since peaking in early March.
Photo courtesy: Worldcoin
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39175830/floki-becomes-hottest-memecoin-with-17-gains-pips-dogecoin-shiba-inu-in-trading-volumes">Floki Becomes Hottest Memecoin With 17% Gains — Pips Dogecoin, Shiba Inu In Trading Volumes</a>
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.

$WLD

Sam Altman-Founded Worldcoin's Suspension Extended In Spain, Crypto Plunges 55% Since March Peak

Macro Economic Events

Econ #s

Reported Earlier, China Caixin Services Purchasing Managers Index For May 54.0 Vs. 52.5 Est.; 52.5 Prior

Reported Earlier, Australia Gross Domestic Product (YoY) For Q1 1.1% Vs. 1.2% Est.; 1.6% (Revised) Prior

Reported Earlier, Australia Gross Domestic Product (QoQ) For Q1 0.1% Vs. 0.2% Est.; 0.3% (Revised) Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index For May 53.8 Vs. 53.6 Est.; 54.3 Prior

Poppi is being sued for allegedly misleading consumers with its prebiotic soda health claims, which a customer argues are not as effective as advertised.
Filed in the U.S. District Court in San Francisco, the lawsuit contends that the soda&#8217;s prebiotic content is insufficient for the health benefits the company claims. The plaintiff, Kristin Cobbs, is seeking compensation for herself and others.
What Happened: The lawsuit was filed last week, as reported by <a href="https://apnews.com/article/poppi-prebiotic-lawsuit-gut-health-30331ef5875e5b82caadef5090ba1195">AP News</a> on Tuesday. Cobbs alleges that the prebiotic agave inulin fiber in Poppi drinks is only around 2 grams, far below the 7.5 grams required for any meaningful prebiotic benefit.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39153266/so-much-is-wrong-short-seller-andrew-left-says-roaring-kitty-trying-to-take-advanta?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;So Much Is Wrong:&#8217; Short-Seller Andrew Left Says &#8216;Roaring Kitty&#8217; Trying To Take Advantage Of Retail Traders After Revealing Huge GameStop Position</a>
Poppi, based in Austin, Texas, has defended its product, stating that it has &#8220;diligently innovated&#8221; to provide a unique soda experience. 
&#8220;We believe the lawsuit is baseless, and we will vigorously defend against these allegations,&#8221; said the company in a statement, according to the report.
Why It Matters: The lawsuit against Poppi comes amid a surge in the functional beverage market, which claims to enhance health and wellness. According to data from consulting firm AlixPartners, U.S. sales of prebiotic and probiotic drinks more than tripled last year.
Last month, the co-founder of Poppi, Allison Ellsworth, denied talk that a larger beverage company was interested in acquiring the brand, according to a Retail Dive <a href="https://www.retaildive.com/news/healthy-soda-brand-poppi-denies-acquisition-target-coca-cola/715080/">report</a>. Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-02-13/coca-cola-said-among-suitors-for-poppi-healthy-soda-brand?sref=Hhue1scO&amp;embedded-checkout=true">reported</a> in February that Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) was among the suitors for Poppi.
Photo Courtesy: ZikG on Shutterstock.com
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39131172/rapper-50-cent-accepted-bitcoin-for-his-album-animal-ambition-10-years-ago-heres-how-much-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Rapper 50 Cent Accepted Bitcoin For His Album &#8216;Animal Ambition&#8217; 10 Years Ago: Here&#8217;s How Much He Earned In Crypto And What It&#8217;s Worth Now</a>
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>

Poppi Faces Class-Action Lawsuit Over Misleading Gut Health Claims, Soda Maker Calls Allegations Unfounded

Mohamed El-Erian, the chief economic advisor at Allianz, took to X, formerly Twitter, to highlight a significant economic indicator that points to a slowdown. He referred to the &#8220;monthly measure of job vacancies,&#8221; which dropped from 8.35 million to 8.05 million, the lowest in three years and well below the consensus forecast.
What Happened: El-Erian suggested that this data point is consistent with his previous observations that the economy is slowing down more than many anticipate, including the Federal Reserve.
Earlier the economist also mentioned the recent ISM data, which showed that the US factory activity in May was below the consensus forecast and at its lowest in three months. El-Erian pointed out that these numbers are in line with other signals of an economy losing momentum at a faster rate than most expect.
El-Erian also highlighted the disparity between the market&#8217;s expectations for Fed policy action and the actual economic conditions.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39145284/mexican-assets-have-worst-day-since-2020-lockdown-why-sheinbaum-is-shaking-investor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mexican Assets Have Worst Day Since 2020 Lockdown: Why Sheinbaum Is Shaking Investor Confidence</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Further to yesterday's post, another data point consistent with my view that the economy is slowing more than many expect, including the Federal Reserve: The monthly measure of job vacancies fell markedly from 8.35 million to 8.05 million, the lowest in three years and well… <a href="https://t.co/1bOXvv6M82">https://t.co/1bOXvv6M82</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1798000617052426581?ref_src=twsrc%5Etfw">June 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Notably, on Tuesday El-Erian had said that lower yields and oil price drop were part of the markets&#8217; reactions to the worries about the U.S. economy which he called the &#8220;engine of global growth.&#8221; He said the nation&#8217;s economy may be slowing more than expected.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Lower yields and an oil price drop were part of the markets' reactions today to concerns that the US economy, the engine of global growth, may be slowing more than expected. <a href="https://twitter.com/hashtag/economy?src=hash&amp;ref_src=twsrc%5Etfw">#economy</a> <a href="https://twitter.com/hashtag/markets?src=hash&amp;ref_src=twsrc%5Etfw">#markets</a> <a href="https://twitter.com/hashtag/oil?src=hash&amp;ref_src=twsrc%5Etfw">#oil</a> <a href="https://twitter.com/hashtag/bonds?src=hash&amp;ref_src=twsrc%5Etfw">#bonds</a> <a href="https://twitter.com/hashtag/ecomtwitter?src=hash&amp;ref_src=twsrc%5Etfw">#ecomtwitter</a> <a href="https://t.co/cnvWqfaova">pic.twitter.com/cnvWqfaova</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1797729254479990969?ref_src=twsrc%5Etfw">June 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: In April, U.S. job openings remained steady at 8.1 million, with little change in hires (5.6 million) and total separations (5.4 million), according to the Bureau of Labor Statistics data released Tuesday. Within separations, quits held at 3.5 million, reflecting workers&#8217; confidence, while layoffs and discharges were stable at 1.5 million. The report noted changes in job openings and separations across various industries and establishment sizes.
El-Erian&#8217;s tweet comes at a time when the <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39165539/bond-market-rallies-as-recession-worries-mount-rate-cut-bets-gain-steam-ahead-of-">bond market is rallying</a>, driven by concerns about a potential recession and increasing bets on a rate cut in September. The recent soft economic data has led to a reevaluation of the Federal Reserve&#8217;s rate cut expectations.
Long-dated U.S. Treasuries, including the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), have been rallying, breaking a key downtrend that began in late 2023. This surge has lifted TLT, a gauge for long-term bond performance, above its declining trend channel for 2024 and its 50-day moving average, indicating a potential trend reversal.
El-Erian&#8217;s observations are also in contrast with the views of some Federal Reserve officials. For instance, Neel Kashkari, the President of the Federal Reserve Bank of Minneapolis, has <a href="https://www.benzinga.com/24/06/39131539/feds-neel-kashkari-advocates-for-no-interest-rate-cut-until-we-get-a-lot-more-data-to-convince-us-am">advocated for no interest rate cut</a> until there is more convincing data to support it, amid inflation uncertainty.
Read Next: <a href="https://www.benzinga.com/news/24/06/39151374/paul-krugman-bidens-economic-success-is-clear-but-telling-voters-to-buck-up-would-be-a-mistake?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Paul Krugman: Biden&#8217;s Economic Success Is Clear But &#8216;Telling Voters To Buck Up&#8217; Would Be A Mistake</a>

Allianz Ag Muenchen Namen-Akt Vinkuliert Shares

ALIZF

iShares Trust Barclays 20+ Year Treasury Bond Fund

Mohamed El-Erian Says Another Indicator Consistent With His View That The Economy Is 'Slowing More Than Many Expect, Including The Federal Reserve'

Stacks (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/stx/usd">STX</a>), the cryptocurrency associated with a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) layer-2 solution, spiked dramatically on Monday, surpassing many market heavyweights on the way.
What Happened: STX was the market's fourth-highest gainer in the last 24 hours, with gains of more than 14%. In doing so, it beat large-cap currencies like Bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>).
STX's trading volume jumped 177% to $224 million in the last 24 hours, reflecting robust demand for the asset.&nbsp;
Why It Matters: STX is the native coin of Stacks, a layer-2 solution that helps the development of decentralized applications on the Bitcoin blockchain. As of this writing, Stacks has total deposits of more than $124 million, <a href="https://defillama.com/chain/Stacks">according </a>to DeFiLlama.
Interestingly, the rally comes <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39175550/bitcoin-ethereum-dogecoin-spike-as-investors-anticipate-an-interest-rate-cut-analyst-highl">following an uptick in Bitcoin's price</a> which moved on favorable macroeconomic data.&nbsp;
The surge caused the coin to trend on social media. Social analytics firm LunarCrush noted an 86% jump in social interactions and a nearly 40% jump in social posts for STX.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24STX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$STX</a> is showing strong performance today with its LunarCrush AltRank&#x2122; improving 34 positions all the way up to the 14th strongest coin in the market. AltRank&#x2122; 14 Social interactions +86.9% Social posts +39.3% Price +9.8% Trading volume +109.3% View the data at… <a href="https://t.co/gTNCzGXTR5">pic.twitter.com/gTNCzGXTR5</a>
&mdash; LunarCrush Social Intelligence (@LunarCrush) <a href="https://twitter.com/LunarCrush/status/1798032618841358366?ref_src=twsrc%5Etfw">June 4, 2024</a></blockquote>
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Price Action: At the time of writing, STX was exchanging hands at $2.21, rising 13.73% 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>.
Photo by Igor Faun on Shutterstock
Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39128955/roaring-kittys-new-social-post-pushes-gamestop-themed-crypto-by-200-kitty-themed-coins-sur"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39156416/dogecoin-whales-load-additional-200m-doge-in-4-days-breakout-ready-to-occur-any-day-trader">Dogecoin Whales Load Additional 200M DOGE In 4 Days: &#8216;Breakout Ready To Occur Any Day,&#8217; Trader Predicts</a>

$BNB

$BTC

$ETH

$STX

This Bitcoin Layer-2 Coin Surged 13% After King Crypto's Rally, Goes Viral On Social Media

A <a href="https://www.benzinga.com/general/24/05/39028738/openai-engineer-admits-ai-companies-taking-away-peoples-jobs-theres-nothing-you-could-do-to-stop-the">former engineer</a> at ChatGPT-parent OpenAI, Daniel Kokotajlo, has now revealed why he stepped down. He also expressed a lack of faith in the company&#8217;s approach to artificial general intelligence and <a href="https://www.benzinga.com/news/24/05/39053399/openai-board-wasnt-informed-of-chatgpt-launch-alleges-ex-director-helen-toner-we-just-couldnt-believ">raised concerns over the</a> silencing of researchers.
What Happened: On Tuesday, Kokotajlo took to X, formerly Twitter, and in a thread of 15 posts, expressed his dissatisfaction with the Sam Altman-led company. 
&#8220;In April, I resigned from OpenAI after losing confidence that the company would behave responsibly in its attempt to build artificial general intelligence — &#8216;AI systems that are generally smarter than humans,'&#8221; he said.
Kokotajlo said he joined OpenAI with the expectation that the organization would significantly increase its <a href="https://www.benzinga.com/news/24/05/38906742/amid-mass-exodus-from-openais-ai-safety-team-insider-says-trust-collapsing-bit-by-bit-in-ceo-sam-alt">investment in safety research</a> as its systems advanced. However, OpenAI never made this shift. &#8220;People started resigning when they realized this. I was not the first or last to do so.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/06/39126810/elon-musk-mocks-steve-jobs-apples-potential-deal-with-openai-siris-ai-overhaul-and-more-this-week-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Mocks Steve Jobs, Apple&#8217;s Potential Deal With OpenAI, Siri&#8217;s AI Overhaul And More: This Week In Appleverse</a>
He went on to say that OpenAI asked him to sign a <a href="https://www.benzinga.com/news/24/05/38997248/chatgpt-parent-openai-reverses-course-on-non-disparagement-terms-for-majority-of-former-staff-were-i">nondisparagement clause upon his departure</a>, which would have barred him from criticizing the company. &#8220;It was clear from the paperwork and my communications with OpenAI that I would lose my vested equity in 60 days if I refused to sign.&#8221;
But, he declined to sign. Kokotajlo then raised concerns about the lack of oversight over the technology developed by labs like OpenAI. He stated, &#8220;Silencing researchers and making them afraid of retaliation is dangerous when we are currently some of the only people in a position to warn the public.&#8221;
He also applauded OpenAI&#8217;s decision to change these policies. Kokotajlo concluded his statement by advocating for greater transparency from AI labs and urged his former colleagues to continue <a href="https://www.benzinga.com/government/24/06/39169933/open-letter-for-ai-companies-calls-for-better-transparency-protections-for-whistleblowers">pushing for transparency</a> from within the company.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">1/15: In April, I resigned from OpenAI after losing confidence that the company would behave responsibly in its attempt to build artificial general intelligence — "AI systems that are generally smarter than humans." <a href="https://t.co/yzMKnZwros">https://t.co/yzMKnZwros</a>
&mdash; Daniel Kokotajlo (@DKokotajlo67142) <a href="https://twitter.com/DKokotajlo67142/status/1797994238468407380?ref_src=twsrc%5Etfw">June 4, 2024</a></blockquote>
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Why It Matters: Kokotajlo&#8217;s resignation comes amidst a <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">series of departures from OpenAI</a> including Ilya Sutskever and Jan Leike, leaders of the superalignment team AI safety team. 
Sutskever was originally hired by Elon Musk when the company was founded in 2015. He played a crucial role in <a href="https://www.benzinga.com/news/23/11/35916508/openai-drama-timeline-all-the-twists-and-turns-starring-sam-altman">removing Altman as CEO</a> in November last year. However, following Altman's reinstatement, Sutskever announced that he would not return to his previous role as a board member.
Meanwhile, in May it was reported that several OpenAI employees raised concerns after a new report revealed that some former staffers were required to sign non-disparagement agreements linked to their company shares. 
OpenAI later reversed its stance and said, &#8220;Regardless of whether you executed the agreement, we write to notify you that OpenAI has not canceled, and will not cancel any vested units.&#8221; This adjustment also pertains to current employees.
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: <a href="https://www.benzinga.com/general/gaming/24/06/39152573/oculus-founder-palmer-luckey-launches-199-modern-handheld-console-that-pays-homage-to-game-boy-don?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Oculus Founder Palmer Luckey Launches $199 Modern Handheld Console That Pays Homage To Game Boy: &#8216;Don&#8217;t See This As A Way To Make Money&#8217;</a>
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.

Former Engineer At Sam Altman-Led OpenAI Says He Resigned After Losing Confidence In The Company: 'Silencing Researchers And Making Them Afraid Of Retaliation Is Dangerous…'

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