Brighthouse Finl Stock (NASDAQ:BHFAP), Trade Ideas

Brighthouse Financial Inc is a United States-based provider of annuity products and life insurance through independent distribution channels and marketing arrangements with distribution partners. Its segments are Annuities, Life, and Run-off. It derives a majority of the revenue from the Annuities segment which includes variable, fixed, index-linked, and income annuities. The life segment includes variable, term, universal, and whole life policies.

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Brighthouse Financial, Inc. - Depositary Shares 6.6% Non-Cumulative Preferred Stock, Series A

Brighthouse Financial Inc

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly set to lay off 693 employees at its Nevada facilities as part of the <a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees">10% layoff</a> announced by the company earlier this month to reduce costs amid falling EV sales and margins. 
What Happened: Tesla has filed a notice with the Nevada Department of Employment, Training, and Rehabilitation, indicating its intention to lay off 693 employees at its Sparks, Nevada facilities, Reuters reported.
Tesla did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment. 
Tesla announced its plan to lay off about 14,000 employees, or 10% of its global workforce, on April 15. 
"About every five years, we need to reorganize and streamline the company for the next phase of growth," company CEO&nbsp;Elon Musk&nbsp;said on X&nbsp;<a href="https://www.benzinga.com/news/24/04/38263933/elon-musk-re-enters-wartime-ceo-mode-tesla-chief-explains-necessity-of-massive-job-cuts-amid-report" target="_blank" rel="noreferrer noopener">about the sweeping job cuts</a>.
Mapping The Layoffs Worldwide: According to WARN notices filed with the states of Texas and California, Tesla will eliminate 3,332 jobs in California and 2,688 positions in Texas, <a href="https://www.benzinga.com/news/24/04/38452751/teslas-biggest-layoffs-mapped-where-has-ev-giant-cut-most-jobs">totaling over 6,000 positions, </a>starting June 14.
The company also intends to cut around 400 jobs in Germany and 285 employees in Buffalo, New York, starting July 15.
Tesla&#8217;s Disappointing Results: Tesla's layoffs reflect the broader challenges facing the company, including declining sales and pricing pressures. For the first quarter, the EV giant reported revenue of $21.3 billion, down from the $23.33 billion reported a year earlier. This is the first time the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube">company&#8217;s quarterly revenue has fallen</a> since the pandemic in 2020. 
Tesla's net profit stood at $1.13 billion, falling 55% from $2.51 billion a year earlier. 
CEO&nbsp;Elon Musk, however, managed to&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38402856/tesla-bull-says-elon-musk-delivered-rip-the-band-aid-off-q1-but-cautions-this-could" target="_blank" rel="noreferrer noopener">assuage some investor concerns</a> by promising a faster rollout of cheaper EV models. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38474811/check-your-inbox-tesla-sends-out-expedited-cybertruck-delivery-invites-to-long-term-shareholders">&#8216;Check Your Inbox!&#8217;: Tesla Sends Out Expedited Cybertruck Delivery Invites To Long-Term Shareholders</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.
Photo courtesy of Tesla.

Tech

TSLA

Tesla To Cut 693 Jobs In Nevada Amid Global Workforce Reduction: Government Notice

Elon Musk announced the suspension of ad revenue sharing for certain creators on his social media platform, X, formerly Twitter, <a href="https://www.benzinga.com/news/23/10/35153897/elon-musks-plans-to-weed-out-bots-from-x-enables-verified-user-only-replies-option-what-it-means">due to bot spamming</a>.
What Happened: Musk took to X to reveal that the ad revenue sharing for some creators will be paused. This decision comes as a response to an ongoing investigation into the bot problem on his social media platform.
"Ad revenue sharing will be paused for some creators pending investigation into use of bots to spam likes, replies, DMs, etc."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Ad revenue sharing will be paused for some creators pending investigation into use of bots to spam likes, replies, DMs, etc
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1783945045529518219?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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The billionaire entrepreneur emphasized the purpose of creator payouts. However, he noted that some users are exploiting the system to generate ad revenue, which is &#8220;obviously not ok.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/04/38264187/elon-musk-says-charging-new-x-users-a-small-fee-is-the-only-way-to-curb-bot-onslaught">Elon Musk Says Charging New X Users A &#8216;Small Fee&#8217; Is The Only Way To Curb Bot Onslaught</a>
"The point of creator payouts is to incentivize high-quality content on X. In some cases, we are seeing the opposite, where people are spamming the system to generate ad money."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The point of creator payouts is to incentivize high quality content on &#120143;. In some cases, we are seeing the opposite, where people are spamming the system to generate ad money. That is obviously not ok.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1783954236671512767?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Musk&#8217;s decision to halt ad revenue sharing for certain creators is the latest in a series of moves aimed at addressing the bot problem on X.
Earlier this month, Musk <a href="https://www.benzinga.com/news/24/04/38264187/elon-musk-says-charging-new-x-users-a-small-fee-is-the-only-way-to-curb-bot-onslaught">announced</a> that the platform would charge a small fee for new users to post, with the primary goal of curbing the bot onslaught.
This is not the first time Musk has taken steps to combat bot activity on X. In October, the platform began <a href="https://www.benzinga.com/news/23/10/35300682/just-joining-elon-musks-x-you-will-now-have-to-shell-out-1-for-proper-access-if-you-live-in-these-tw">charging a $1 annual subscription fee</a> for new users in New Zealand and the Philippines as part of its &#8220;Not A Bot&#8221; program, aimed at mitigating spam, manipulation, and bot activity on the platform.
Check out more of Benzinga's Future Of Consumer Tech by&nbsp;<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/news/24/04/38460718/elon-musk-weighs-in-after-x-user-says-banning-tiktok-sets-a-precedent-that-government-can-ban-any-ap">Elon Musk Weighs In After X User Says &#8216;Banning TikTok Sets A Precedent That Government Can Ban Any App&#8230;&#8217;</a>
Disclaimer: 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.
Photo courtesy: Shutterstock

Social Media

Elon Musk Says Ad Revenue Sharing Will Be 'Paused' For Some X Creators Over Pending Investigation Into 'Use Of Bots To Spam Likes, Replies'

The U.S. and China have agreed to hold their first high-level talks on artificial intelligence (AI). This was confirmed by U.S. Secretary of State Antony Blinken during a press conference in Beijing on Friday. The two nations will discuss potential <a href="https://www.benzinga.com/news/24/04/38310022/former-openai-researcher-who-predicted-theres-a-50-chance-ai-could-kill-us-all-is-now-heading-us-ai">risks and safety concerns</a> associated with AI.
What Happened: The upcoming U.S.-China intergovernmental dialogue on AI was announced by Blinken during his discussions with Chinese officials in Beijing. The talks are scheduled to take place in the &#8220;coming weeks,&#8221; <a href="https://www.cnbc.com/2024/04/26/us-china-to-hold-first-ai-talks-tiktok-stalemate-ongoing.html">reported</a> CNBC.
While the <a href="https://www.benzinga.com/news/24/04/38460718/elon-musk-weighs-in-after-x-user-says-banning-tiktok-sets-a-precedent-that-government-can-ban-any-ap">future of TikTok</a>, owned by Chinese internet technology company ByteDance Ltd., remains uncertain due to U.S. restrictions, Blinken mentioned that the topic "did not come up&#8221; during the talks.
China&#8217;s foreign ministry confirmed the AI talks and outlined a broader five-point agreement between the two nations. This includes efforts to stabilize and develop U.S.-China relations, expand cultural exchanges, and continue consultations on international and regional issues.
See Also: <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Massive $1B Bet On Nvidia H100 GPU Cluster Will Dwarf Every Other Company&#8217;s Target, But Zuckerberg</a>
Amid ongoing trade and national security concerns, the U.S. and its allies have accused Chinese companies of flooding international markets with low-cost goods, particularly green technologies such as electric vehicles. Beijing has denied these allegations.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The U.S. and China&#8217;s rivalry in AI has been a topic of much discussion. Both countries have made <a href="https://www.benzinga.com/news/24/03/37843540/why-intel-shares-are-rallying-nearly-4-premarket-today">significant investments in AI</a>, with the pace of innovation being a particular concern for China.
The upcoming AI talks could provide insight into the future of this technological competition, as well as the potential for cooperation in this area.
U.S. has currently <a href="https://www.benzinga.com/government/24/04/38140039/us-embargo-on-nvidia-stings-hard-chinas-ai-development-lags-peers-alibabas-joe-tsai-reveals">imposed restrictions</a> on the export of advanced AI chips to China, impacting companies like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), among others.
Despite these tensions, China has managed to <a href="https://www.benzinga.com/markets/equities/24/04/38459947/as-us-tightens-screws-on-nvidia-intel-chip-exports-to-china-huaweis-latest-phone-uses-made-in-ch">develop its own chipsets</a>. The upcoming AI talks could shed light on the future of this competition and the potential for cooperation in this critical area of technology.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros" target="_blank" rel="noreferrer noopener">‘Another Picasso-Like Performance:' Top Tech Analyst Praises Satya Nadella, Says Microsoft Is Top ‘AI Draft Pick' With 20% Rally In Store</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.
Photo courtesy: Shutterstock

Politics

NVDA

US, China Set To Hold First High-Level Talks On AI, Blinken Confirms: Tiktok 'Did Not Come Up' In Discussion

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has started sending <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36039263/did-tesla-overpromise-and-underdeliver-with-the-cybertruck">Cybertruck delivery invites</a> to long-term shareholders who opted for early delivery, company executive Martin Viecha said on Friday. 
What Happened: &#8220;The first batch of early Cybertruck delivery invites for long-term shareholders just went out &#8211; please check your inbox!,&#8221; Viecha wrote in a post on X, formerly Twitter. 
<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">The first batch of early Cybertruck delivery invites for long-term shareholders just went out &#8211; please check your inbox! Sorry about the delay, verifying statements of so many shareholders is taking some time. More to come! Thanks <a href="https://twitter.com/J0se?ref_src=twsrc%5Etfw">@J0se</a>, his team and the IR team &#x1f642; <a href="https://t.co/jshOaWmm6u">https://t.co/jshOaWmm6u</a>
&mdash; Martin Viecha (@MartinViecha) <a href="https://twitter.com/MartinViecha/status/1784006816625770877?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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Tesla announced an <a href="https://www.benzinga.com/news/24/03/37610567/tesla-offers-early-cybertruck-delivery-to-long-term-shareholders-how-to-check-if-you-qualify">exclusive offer to its long-term shareholders</a>, allowing them to receive early delivery of the Foundation Series Cybertruck, in March. The criteria was that the Cybertruck reservation be made in the shareholder&#8217;s name before March 1. Each participant must further provide brokerage statements showing that they owned Tesla shares on Feb. 28, 2021, and owned at least 500 Tesla shares on Feb. 29. The more recent brokerage statement must also show that the participant still owns at least half of the shares they owned as of Feb. 28, 2021, the company said. 
Viecha on Friday pegged the delay in sending out the first batch of invites to the statement verification process. The company had to verify statements from &#8220;so many shareholders,&#8221; he said, hinting that several shareholders opted into the offer. 
Cybertruck Delivery Timeline: Tesla aims to deliver 250,000 units of the Cybertruck in a year <a href="https://www.benzinga.com/news/23/10/35322048/tesla-ceo-elon-musk-details-enormous-challenges-in-reaching-volume-production-for-cybertruck-we-dug">starting in 2025. </a>
During Tesla's third-quarter earnings call in October, a month before the Cybertruck&#8217;s delivery event,&nbsp;Musk had said that over a million people had already reserved the vehicle. 
In January, Tesla Supply Chain Vice President&nbsp;Karn Budhiraj&nbsp;said&nbsp;that the conversion of reservations to orders for the vehicle has been &#8220;very encouraging&#8221; and that the company has been receiving new orders since the vehicle's launch, implying that those lower below the waitlist might have to wait for their vehicles until 2026 or later<a href="https://www.benzinga.com/news/24/02/37174949/want-your-cybertruck-delivered-faster-tesla-offers-priority-option-if-you-have-these-many-referral-c"> without these offers.</a> 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/government/24/04/38454591/breaking-nhtsa-starts-probe-into-teslas-software-fix-for-2m-vehicles-recalled-in-december">Did Tesla&#8217;s Software Update Fix Autosteer Problems For 2M Cars? NHTSA Starts Probing</a>
Photo via Shutterstock

'Check Your Inbox!': Tesla Sends Out Expedited Cybertruck Delivery Invites To Long-Term Shareholders

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has outlined the key events that investors should keep an eye on in the upcoming week.
What Happened: Cramer highlighted the significant events scheduled for the week, including earnings reports from&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and&nbsp;Eli Lilly and Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>),&nbsp;<a href="https://www.cnbc.com/2024/04/26/cramers-week-ahead-fed-meeting-and-apple-amazon-eli-lilly-report.html">reported</a> CNBC on Friday.
He also spoke about the importance of the <a href="https://www.benzinga.com/topic/fomc-meeting">Federal Reserve meeting</a> on Wednesday and the&nbsp;employment figures from the Department&nbsp;of Labor on Friday.
The Mad Money host expressed his concerns about the economy, stating, &#8220;We&nbsp;have to run such a&nbsp;ridiculous gauntlet next week that&nbsp;I have no idea how&nbsp;it'll play out.&#8221; Adding, &#8220;But&nbsp;I do think the economy's&nbsp;getting weaker — I just&nbsp;hope the Federal Reserve has noticed.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
On Monday,&nbsp;SoFi&nbsp;and&nbsp;Domino&#8217;s Pizza&nbsp;will report their earnings. Tuesday will see reports from&nbsp;Eli Lilly,&nbsp;McDonald&#8217;s,&nbsp;Amazon, and&nbsp;Starbucks. Wednesday will feature reports from&nbsp;CVS,&nbsp;Pfizer,&nbsp;Wingstop,&nbsp;Carvana, and&nbsp;Marriott, as well as the Fed&#8217;s rate announcement.
Cramer said Eli Lilly&#8217;s outcomes will offer clarity on the sales performance of the <a href="https://www.benzinga.com/general/biotech/24/04/38356901/changing-frugal-eating-habits-how-novo-nordiskeli-lillys-weight-loss-drugs-reshaping-food-spendin">company&#8217;s weight loss</a> and diabetes drug, along with further details on the potential approval timeline for its Alzheimer&#8217;s treatment by <a href="https://www.benzinga.com/general/biotech/24/03/37558545/eli-lillys-donanemab-for-alzheimers-hits-fda-speed-breaker-biogen-stock-gains-on-delayed-decision">the Food and Drug Administration</a>.
On Thursday, Apple is set to release its report, with Cramer highlighting <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38378204/apple-is-a-top-stock-pick-for-2024-analyst-says-4-catalysts-to-look-for-in-next-ear">significant investor skepticism</a> toward the Big Tech firm. He pointed out that <a href="https://www.benzinga.com/news/24/03/37821802/apple-vision-pro-gets-nvidia-boost-with-dedicated-data-centers-to-stream-advanced-3d-experiences">Apple&#8217;s collaboration</a> with Nvidia, facilitating enterprise applications for the Vision Pro, could potentially bolster the stock.
Why It Matters: On Thursday, Cramer <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38456821/jim-cramer-scoffs-at-disproportionate-coverage-of-apple-while-google-and-microsoft-">criticized the disproportionate coverage</a> of Apple&#8217;s struggles compared to the successes of Google and Microsoft. He pointed out that while Apple&#8217;s challenges with antitrust regulations and declining iPhone sales in China received major attention, the <a href="https://www.benzinga.com/news/24/04/38459818/real-deal-amid-microsoft-google-earnings-techpreneur-says-by-2030-companies-not-fully-utilizing-ai-w">remarkable quarterly results</a> of Google and Microsoft barely made the news.
He has previously also&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38406798/jim-cramer-takes-potshots-at-tesla-boeing-shrugs-off-post-earnings-rally-as-smacks-of-fiction-horre">expressed skepticism</a>&nbsp;about the post-earnings rally of Tesla and Boeing, stating that it &#8220;smacks of fiction not fact.&#8221; 
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Sees Nvidia As Going &#8216;From Star Of The Show To Being The Goat Of The Game&#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.
Photo: Courtesy of Scott Beale on Flickr

Market Summary

AMZN

Jim Cramer Weighs In Ahead Of Apple, Amazon, Eli Lilly Earnings: 'We Have To Run Such A Ridiculous Gauntlet Next Week'

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has hiked the price of its new <a href="https://www.benzinga.com/news/24/04/38401202/teslas-new-53k-model-3-performance-eligible-for-full-tax-credits-but-leasing-long-range-might-be-che">Model 3 Performance </a>in the U.S. by $1000, merely days after its launch. 
What Happened: The Model 3 Performance is now priced at $53,990 on Tesla&#8217;s website. The company launched the new variant only on Tuesday, ahead of its first-quarter results. 
The Model 3 Performance, unlike the other two versions of Model 3, is eligible for a $7,500 federal EV tax credit, taking the effective price for eligible buyers down to $46,490, below even the Long Range version of the vehicle. 
The Performance version has a range of 296 miles and a top speed of 163 mph. On ordering the vehicle now, customers can take delivery by June. 
Why It Matters: In January, Tesla introduced the <a href="https://www.benzinga.com/news/24/01/36570546/you-can-finally-order-teslas-new-model-3-in-america-heres-its-starting-price">updated Model 3</a> in the U.S., initially offering two variants: rear-wheel drive and long-range. The Performance variant was conspicuously absent from the listings. However, a company executive affirmed its forthcoming availability.
Tesla slashed prices on all trim levels of the Model Y, S, and X in the U.S. by <a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n">$2,000 earlier this month. </a>It spared the refreshed Model 3 then. 
Price Action:&nbsp;Tesla stock closed down 1.11% at $168.28 per share on Friday, according to data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro.</a>&nbsp;The stock is down 32.26% year-to-date.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:<a href="https://www.benzinga.com/news/24/04/38453221/another-blow-to-tesla-hertzs-ev-disposal-plan-jumps-by-10k-as-car-rental-company-aims-for-95-gas-pow"> Another Blow To Tesla? Hertz&#8217;s EV Disposal Plan Jumps By 10K As Car-Rental Company Aims For 95% Gas-Powered Fleet By Year-End</a>
Photo via Shutterstock

Tesla Increases Price Of Model 3 Performance By $1K In US Days After Launch

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has reportedly resumed discussions with Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI about incorporating the startup&#8217;s AI technology into the <a href="https://www.benzinga.com/news/24/03/37932418/apple-reportedly-readying-ios-18-with-home-screen-redesign-and-ai-upgrades">upcoming iPhone features</a>.
What Happened: Apple is in talks with OpenAI to potentially integrate its technology into the iPhone&#8217;s next operating system, iOS 18, <a href="https://www.bloomberg.com/news/articles/2024-04-26/apple-intensifies-talks-with-openai-for-iphone-generative-ai-features">Bloomberg</a> reported.
The companies are discussing the terms of the agreement and how OpenAI&#8217;s features would be integrated into iOS 18.
This development marks the reopening of discussions between the two companies. While Apple had initially collaborated with OpenAI earlier this year, there has been minimal engagement between the two entities since then.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Apple has not yet made a final decision on its partners and there is no guarantee that a deal will be reached. The company may ultimately strike a deal with both OpenAI and Google or choose another provider altogether.
Apple and OpenAI did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment.
See Also: <a href="https://www.benzinga.com/news/24/04/38424000/mark-zuckerberg-shades-apple-vision-pro-once-again-calls-it-fashionable-ai-glasses-without-a-display?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Shades Apple Vision Pro Once Again, Calls It &#8216;Fashionable AI Glasses Without A Display&#8217;</a>
The iOS 18 update is set to include several new features based on <a href="https://www.benzinga.com/markets/equities/24/03/37819063/apples-in-house-ai-features-for-ios-18-are-codenamed-project-graymatter-separate-from-googles-ge">Apple&#8217;s in-house large language model AI model</a>. The company is also seeking partners to power a chatbot-like feature similar to OpenAI&#8217;s ChatGPT.
Why It Matters: The renewed talks between Apple and OpenAI come amidst Apple&#8217;s <a href="https://www.benzinga.com/news/24/03/37771653/apple-in-talks-with-google-to-license-gemini-ai-models-for-future-iphones-report">ongoing discussions with</a> Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google about licensing the latter&#8217;s Gemini AI models for future iPhones. The potential deal with OpenAI and Google could also significantly impact the iPhone&#8217;s AI capabilities.
Apple&#8217;s CEO, Tim Cook, has been vocal about the company&#8217;s plans to <a href="https://www.benzinga.com/markets/equities/24/03/37871211/google-or-microsoft-backed-openai-apple-hasnt-picked-the-winner-yet-for-its-ai-ambitions-report">introduce new AI features</a> on a &#8220;very thoughtful basis.&#8221; By collaborating with external partners like OpenAI and Google, Apple aims to accelerate its AI push and enhance its devices&#8217; AI capabilities while mitigating potential risks.
Price Action: Apple's shares closed 0.35% lower at $169.30 on Friday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37784585/gene-munster-says-apple-will-fight-to-rebrand-gemini-on-iphone-but-the-deal-is-what" target="_blank" rel="noreferrer noopener">Gene Munster Says ‘Apple Will Fight' To Rebrand Gemini On iPhone, But The Deal Is What Google Investors Have Been ‘Waiting For The Last 6 Months'</a>
Disclaimer: 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.
Photo by Thai Nguyen on Unsplash

Goodbye Google Gemini? Apple In Talks With Microsoft-Backed OpenAI For iPhone AI Features: Report