Bank of San Francisco New Stock (OTC: BSFO)

Latest News for Bank of San Francisco New Stock (OTC:BSFO)

Bank of San Francisco New is a United States-based state-chartered commercial bank. It provides a full range of banking services to individuals, businesses, and other clients. The firm offers personal, business and online, and mobile banking services. It offers a variety of deposit products, including checking, savings, money market, and certificates of deposit. It also engages in mortgage banking activities and such as originates and both brokers and retains in portfolio one-to-four unit residential mortgage loans.

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PENNEY (J C) CO by Penney (J.C.) Co., Inc. (Holding Co.)

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

The universe of public companies open to U.S. investors is a lot larger than most people realize. 

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

2020 was a year of divergence in markets. Some industries, like health care and e-commerce, benefited greatly from the effects of the pandemic. Others, like energy and travel, did not. 

How The Major Indexes On OTC Markets Performed In 2020

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

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MERCHANTS & MARINE BNCORP by Merchants & Marine Bancorp Inc.

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A Conversation With Jason Paltrowitz: The IPO Market Is &#39;A Rising Tide&#39;

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Bank of San Francisco New

<ul>
<li>Transforms and Expands Core Scientific&#39;s Hosting Business and Earnings Power While Maintaining Bitcoin Mining Capacity and Growth Potential</li>
<li>Long-Term Hosting Agreements Expected to Generate Total Cumulative Revenue for Core Scientific of More Than&nbsp;$3.5 Billion&nbsp;During Initial 12-Year Contract Terms</li>
<li>Positions Core Scientific as a Leading Player in the AI Data Center Space</li>
</ul>

Core Scientific, Inc. - Class A Common Stock

CORZ

Reported Earlier, Core Scientific To Provide 200 MW Of Infrastructure For CoreWeave's High-Performance Computing

Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) is set to release first-quarter financial results, before the <a href="https://www.benzinga.com/quote/BBWI/earnings">opening bell on Tuesday</a>.
Analysts expect the Columbus, Ohio-based company to report quarterly earnings at 32 cents per share, compared to 33 cents per share in the year-ago period. Bath &amp; Body Works is expected to post revenue of $1.36 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On May 17, Bath &amp; Body Works declared its regular quarterly dividend of 20 cents per share.
Bath &amp; Body Works shares fell 0.3% to close at $51.81 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/BBWI/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>JP Morgan analyst Matthew Boss upgraded the stock from Underweight to Neutral and raised the price target from $40 to $53 on May 17. This analyst has an accuracy rate of 67%.</li>
<li>Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating and increased the price target from $42 to $48 on April 24. This analyst has an accuracy rate of 73%.</li>
<li>UBS analyst Jay Sole maintained a Neutral rating and increased the price target from $46 to $52 on March 4. This analyst has an accuracy rate of 74%.</li>
<li>Baird analyst Mark Altschwager maintained an Outperform rating and increased the price target from $50 to $54 on March 1. This analyst has an accuracy rate of 68%.</li>
<li>BMO Capital analyst Simeon Siegel maintained an Outperform rating and increased the price target from $48 to $50 on March 1. This analyst has an accuracy rate of 75%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/06/39135431/top-3-utilities-stocks-that-may-plunge-in-q2">Top 3 Utilities Stocks That May Plunge In Q2</a>

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BBWI

Bath & Body Works Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

NXP Semiconductors N.V.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) today announced a collaboration with ZF Friedrichshafen AG, a global leader in e-mobility, on next-generation SiC-based traction inverter solutions for electric vehicles (EVs). By leveraging NXP&#39;s advanced GD316x high-voltage (HV) isolated gate drivers, the solutions are designed to accelerate the adoption of 800-V and SiC power devices. Safe, efficient and higher performance traction inverters enabled by the GD316x product family can be designed to extend EV range and reduce the number of charging stops while lowering system level costs for OEMs.
The collaboration between ZF and NXP is a significant step towards accelerating the electrification of the automotive industry, and creating more safe, sustainable, and energy-efficient EVs for the future.

NXPI

ZF Friedrichshafen Taps NXP to Boost Electric Vehicle Powertrains Via SiC-Based Traction Inverters

Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) announced new Lunar Lake chips with enhanced AI processors aimed at <a href="https://www.benzinga.com/top-stories/24/05/38949565/microsoft-unveils-5-game-changing-ai-tools-at-build-2024-conference">Copilot+ AI PCs</a> and data center chips to take on Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>).
What Happened: At the ongoing Computex technology trade show in Taiwan, Intel CEO Pat Gelsinger unveiled the chipmaker's refreshed AI strategy that seeks to build on <a href="https://www.benzinga.com/news/24/01/36485365/microsoft-adds-dedicated-copilot-key-to-windows-pcs-and-laptops-wants-2024-to-be-year-of-ai-pc">Microsoft Corp</a>.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) "Year of AI PC" goal, apart from taking on AMD in the data center business.
The Lunar Lake series, set to be launched later this year, will offer several improvements over the current-gen Meteor Lake SoCs.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04020543/1000033512-1024x576.jpg" alt="" class="wp-image-369106" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04020543/1000033512-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04020543/1000033512-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04020543/1000033512-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04020543/1000033512-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/04020543/1000033512.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Intel&#8217;s new Lunar Lake chips &#x7C; Photo courtesy: Rounak Jain</figcaption></figure>
These include enhanced power efficiency, a 4x increase in NPU processing power, a 50% faster Intel Arc GPU, and on-chip memory for a smaller footprint and faster memory access, Gelsinger announced during the keynote.
The new chip is expected to power thin and light laptops by the 2024 holiday season.
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.
Lunar Lake is the first Intel chip series to meet the minimum requirements for Microsoft&#8217;s Copilot+ PC standards, including greater than 40 trillion operations per second for its NPU (TOPS), and 16GB memory.
The Lunar Lake chips can reportedly deliver the same performance as Intel Meteor Lake chips with a third of the power, significantly enhancing the potential battery life of laptops equipped with the new chips.
See Also: <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</a>
Intel is projecting 40 million shipments of laptops by the end of 2024 and says it will have over 500 AI models optimized for its Core Ultra chip. This could potentially give Intel an edge over its competitors, including AMD and Qualcomm, in the AI PC market.
<h3 class="wp-block-heading">AMD In Sight, Intel Announces New AI Chips</h3>
Gelsinger also announced new server and AI chips in a bid to take on AMD as it looks to stem its market share decline.
Intel's new Xeon server chips require 67% fewer server racks at the same level of performance as its second-generation chips.
Intel also revealed that its Gaudi 3 AI chips will be priced significantly lower than those of its competitors. The Gaudi 3 accelerator kit, which includes eight AI chips, will be sold for about $125,000, while the earlier Gaudi 2 has a list price of $65,000.
This pricing strategy not only challenges AMD, it also takes on Jensen Huang-led Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). According to an estimate by server vendor Thinkmate, as cited by Reuters, a comparable system with Nvidia&#8217;s H100 AI chips can cost over $300,000.
Check out more of&nbsp;Benzinga's&nbsp;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: <a href="https://www.benzinga.com/news/24/05/39103916/siri-overhaul-apple-to-reportedly-unveil-powerful-ai-driven-voice-command-features-at-wwdc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Siri Overhaul: Apple To Reportedly Unveil Powerful AI-Driven Voice Command Features At WWDC</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.

Tech

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Intel Steps Up AI Game With Lunar Lake Chips For Microsoft Copilot+ PCs, New Data Center Rivals To AMD

<ul>
<li>Launches Intel&reg; Xeon&reg; 6 processors with Efficient-cores (E-cores), delivering performance and power efficiency for high-density, scale-out workloads in the data center. Enables 3:1 rack consolidation, rack-level performance gains of up to 4.2x and performance per watt gains of up to 2.6x1.</li>
<li>Announces pricing for Intel&reg; Gaudi&reg; 2 and Intel&reg; Gaudi&reg; 3 AI accelerator kits, delivering high performance with up to one-third lower cost compared to competitive platforms2. The combination of Xeon processors with Gaudi AI accelerators in a system offers a powerful solution for making AI faster, cheaper and more accessible.</li>
<li>Unveils Lunar Lake client processor architecture to continue to grow the AI PC category. The next generation of AI PCs &ndash; with breakthrough x86 power efficiency and no-compromise application compatibility &ndash; will deliver up to&nbsp;40%&nbsp;lower system-on-chip (SoC) power when compared with the previous generation3.</li>
</ul>

Reported Earlier, Intel Sets New AI Standard At Computex 2024 With Launch Of Xeon 6, Gaudi Accelerators, And Lunar Lake Architecture

In a significant development, Dapper Labs, the creator of the NBA Top Shot Moments NFT collection, has agreed to a $4 million settlement in a class-action lawsuit. 
What Happened: The settlement fund will be available to eligible claimants, according to court documents provided by Dapper Labs, <a href="https://www.theblock.co/post/298286/dapper-labs-settles-nba-top-shot-moments-lawsuit-for-4-million?utm_source=twitter&amp;utm_medium=social">The Block </a>reported. 
The lawsuit, originally filed in the U.S. District Court for the Southern District of New York in 2021, accused Dapper Labs of making significant profits by selling unregistered securities and artificially supporting the market for its NFTs. 
&#8220;The settlement in the Friel vs. Dapper Labs case further asserts Dapper Labs' conviction that NBA Top Shot Moments are not securities under federal law,&#8221; the company stated. This statement comes as a surprise, as the judge overseeing the case last year found that NBA Top Shot Moments NFTs met the requirements to be considered a security.
Dapper Labs&#8217;s co-founder and CEO Roham Gharegozlou, a co-defendant in the lawsuit, expressed satisfaction with the settlement. &#8220;We are pleased with the results of today's settlement, which marks a significant step forward for Dapper Labs and the Flow community,&#8221; he said.
Why It Matters: This lawsuit settlement was a silver lining amid increasing scrutiny and calls for tighter regulations of NFTs in the U.S. 
Last month, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39078028/nfts-vulnerable-to-frauds-and-scams-says-us-treasury-calls-for-tighter-regulations">U.S. Treasury Department</a> warned that NFTs are highly susceptible to fraud and scams and advocated for tighter enforcement of existing laws in the sector. 
Legendary footballer Cristiano Ronaldo <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39033962/cristiano-ronaldo-set-to-launch-yet-another-nft-collection-on-binance-despite-1b-lawsuit">is also facing a $1 billion class-action lawsuit</a> for promoting his brand of NFTs on Binance. The lawsuit states that Ronaldo significantly promoted investments in unregistered securities.
NBA Top Shot, released in 2020, is a collaboration between the NBA and Dapper Labs. NBA luminaries Michael Jordan, Kevin Durant, and Klay Thompson are among the prominent investors. Sales volume for the NFT collection rose 12% over the last 24 hours, <a href="https://www.cryptoslam.io/nba-top-shot?headerPeriod=30d&amp;tab=activity">according </a>to CryptoSlam.
Photo Courtesy: T. Schneider 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-">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>
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.

NBA NFT Creator Dapper Labs Settles Securities Violation Lawsuit For $4M: 'Pleased With The Results'

SpaceX&#8216;s <a href="https://www.benzinga.com/news/24/06/39130866/spacex-ceo-elon-musk-brushes-off-starlink-pollution-concerns-its-like-being-upset-at-birds-in-the-sk">satellite internet service Starlink</a> provides the same responsiveness on all parts of an air journey, from take off until the flight touches high altitude, company CEO Elon Musk said on Monday. 
What Happened: &#8220;Starlink works from the tarmac to high altitude with the same responsiveness as a ground Internet connection,&#8221; Musk wrote on X, formerly Twitter. He was responding to X executive Keith Coleman who flew on a flight equipped with Starlink and was rather impressed. 
&#8220;I flew yesterday on a plane with Starlink. Worked from the tarmac (no waiting til 10k ft), fast, free, and didn&#8217;t require any airline wifi login &#8211; just worked.&#8221; Coleman wrote. &#8220;A pretty amazing step up from what we&#8217;ve had for the past ~15-20 yrs.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cool. Yeah, Starlink works from the tarmac to high altitude with the same responsiveness as a ground Internet connection.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1797720041519284325?ref_src=twsrc%5Etfw">June 3, 2024</a></blockquote>
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Why It Matters: Starlink provides high-speed internet in flight with a latency of less than 99 ms and a maximum download speed per terminal of 220 Mbps. This allows passengers to make video calls, and play games online, among other things. 
Last week, Qatar Airways announced that three Boeing 777-3000 aircraft <a href="https://www.benzinga.com/news/24/05/39081646/elon-musks-starlink-joins-hands-with-qatar-airways-for-menas-first-complimentary-wi-fi-service-on-se">will receive Starlink connectivity</a> by the fourth quarter of this year. Starlink has announced in-flight internet deals with other airlines including JSX Airlines, Hawaiian Airlines, and Zipair.
Starlink is available on Airbus A321 Neo, Bombardier Global 6000, and Embraer ERJ-135 aircraft, among others. Before the end of the year, it is also expected to be available on Airbus A220, Boeing 737, and Bombardier Global 5000.
Last year, Musk said that Starlink would be available <a href="https://www.benzinga.com/news/23/10/35154382/musk-says-starlink-internet-could-soon-be-available-on-most-flights-but-theres-a-condition">on most aircraft &#8216;soon&#8217;</a> depending on whether the airline orders it. 
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/24/06/39135581/youtuber-mkbhd-praises-lucid-air-sapphire-if-it-couldnt-be-a-tesla-it-would-have-to-be-this">YouTuber MKBHD Praises Lucid Air Sapphire: &#8216;If…It Couldn&#8217;t Be A Tesla, It Would Have To Be This&#8217;</a>
Photo courtesy: Shutterstock

SPACE

SpaceX CEO Elon Musk Boasts Starlink's Seamless Connectivity From 'Tarmac To High Altitude'

Supermicro&#39;s Expanded, Proven Portfolio Includes Systems Designed for Maximum Performance-Per-Watt on Cloud-Native, Storage Optimized, and Scale-Out Workloads, and Air and Liquid- Cooled Systems for AI and HPC Environment

SMCI

Reported Earlier, Supermicro Debuts X14 AI And Multi-Node Servers, Leveraging Intel Xeon 6's E-Cores And Future P-Cores

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fhyvesolutions.com%2F&amp;esheet=54027718&amp;newsitemid=20240603136552&amp;lan=en-US&amp;anchor=Hyve+Solutions+Corporation&amp;index=1&amp;md5=ec8dc6b40eab872098c35eaebeafa3cf">Hyve Solutions Corporation</a>, a wholly owned subsidiary of&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Ftdsynnex.com%2F&amp;esheet=54027718&amp;newsitemid=20240603136552&amp;lan=en-US&amp;anchor=TD+SYNNEX+Corporation&amp;index=2&amp;md5=ebe21764e5b0b011cbb1eba68f0661b2">TD SYNNEX Corporation</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) and a leading provider of hyperscale digital infrastructures, today announced the integration of Intel&reg; Xeon&reg; 6 processors into Hyve-designed motherboards and systems. This collaboration with Intel marks a significant step forward in meeting the diverse performance and efficiency requirements of modern computing environments, from high-performance AI applications to exceptional efficiency and cloud scalability.

Reported Earlier, TD SYNNEX Subsidiary Hyve Solutions Upgrades To Intel Xeon 6 Processors, Elevating AI And Cloud Technology Performance

This agreement is part of an international collaboration within the framework of the &quot;Development of Chiplet and Package Design and Manufacturing Technology for 2nm-Generation Semiconductors&quot; project being conducted by&nbsp;Japan&#39;s&nbsp;New Energy and Industrial Technology Development Organization (NEDO) and builds on an existing agreement with IBM for the joint development of 2nm node technology. As part of the agreement, IBM and Rapidus engineers will work in collaboration at IBM&#39;s facilities in&nbsp;North America&nbsp;for R&amp;D and manufacturing of semiconductor packaging for high-performance computer systems.

Reported Earlier, Rapidus And IBM Inks Joint Development Partnership To Include Chiplet Packaging Technology For 2nm-Generation Semiconductors

A jury has ruled that Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) must pay $260 million to an Oregon woman who claims to have developed mesothelioma from using the company&#8217;s talc powder.
What Happened: The jury&#8217;s decision, announced on Monday, includes $60 million in compensatory damages and $200 million in punitive damages, Reuters reported on Tuesday. The plaintiff, Kyung Lee, was diagnosed with mesothelioma at the age of 48, allegedly due to inhaling asbestos-tainted talc over a period of 30 years.
Despite the verdict, J&amp;J plans to appeal, with Erik Haas, the company&#8217;s worldwide vice president of litigation, stating that the decision is inconsistent with decades of independent scientific evaluations confirming talc&#8217;s safety.
The ruling comes as J&amp;J continues to pursue a proposed $6.48 billion settlement of most talc-related lawsuits through a prepackaged bankruptcy. The company is facing lawsuits from over 61,000 plaintiffs, the majority of which are women with ovarian cancer.
See Also: <a href="https://www.benzinga.com/general/biotech/24/06/39143733/eli-lilly-beefs-up-neuro-pipeline-with-addition-of-preclinical-als-dementia-prospect?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Eli Lilly Beefs Up Neuro Pipeline With Addition Of Preclinical ALS, Dementia Prospect</a>
Why It Matters: This verdict follows a series of legal battles for J&amp;J. Earlier this year, the company reached a <a href="https://www.benzinga.com/general/biotech/24/01/36743981/johnson-johnsons-settlement-for-talc-cancer-lawsuits-reaches-700m-settlement-with-us-states">tentative settlement of $700 million</a> with 42 U.S. states and Washington, D.C., regarding alleged misleading information about the safety of its talc products linked to cancer cases.
However, J&amp;J&#8217;s bankruptcy tactics have been met with criticism, with a group of <a href="https://www.benzinga.com/general/biotech/24/05/38989073/johnson-johnsons-bankruptcy-tactics-are-fraudulent-plaintiffs-accuse-company-of-defrauding-cancer">cancer victims accusing the company</a> of committing fraud through its persistent efforts to use a shell company's bankruptcy to resolve numerous lawsuits. The plaintiffs argue that this strategy was designed to "hinder, delay, and defraud" them, effectively putting billions of dollars out of their reach and preventing them from having their day in court.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/06/39138772/moderna-merck-reveal-three-year-data-for-individualized-cancer-therapy-in-high-risk-melanoma-pati?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Moderna, Merck Reveal Three Year Data For Individualized Cancer Therapy In High-Risk Melanoma Patients</a>
Photo via Wikimedia Commons
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>

Biotech

Health Care

Johnson & Johnson Ordered To Pay $260M In Latest Talc Trial

<ul>
<li>In heavily pretreated patients with mycosis fungoides, treatment with lacutamab results in meaningful anti-tumor activity regardless of baseline KIR3DL2 expression level. Lacutamab was well-tolerated with a safety profile consistent with prior studies.</li>
<li>Innate will host a&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F476217548&amp;esheet=54026718&amp;newsitemid=20240603023665&amp;lan=en-US&amp;anchor=virtual+KOL+event&amp;index=1&amp;md5=10d7783d1865b0c0cfab280b97ac8123">virtual KOL event</a>&nbsp;on Tuesday, June 11, 2024 at 4:00PM CEST (10:00AM EDT).</li>
</ul>

IPHA

Innate Pharma Reveals Results From TELLOMAK Phase 2 Study With Lacutamab In Mycosis Fungoides

Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) AI chief&nbsp;Yann LeCun has defended the tech giant against social media users&#8217; accusations of using misinformation as a business model to&nbsp;drive engagement.
What Happened: Over the weekend, LeCun took to X, formerly Twitter, and <a href="https://www.benzinga.com/news/24/05/39052729/elon-musk-mocks-meta-ai-chief-after-yann-lecun-defines-what-cannot-be-called-science-one-of-the-dumb">once again targeted</a> Elon Musk saying he disagrees with him on several issues. This includes Musk&#8217;s treatment of his scientists, the hype he creates with unrealistic predictions, and the tech mogul&#8217;s tendency to use his public position to comment on many political issues.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My opinion of <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> I like his cars (I own a 2015 S, and 2023 S), his rockets, his solar energy systems, and his satellite communication system. I also like his positions on open source and patents. But I very much disagree with him on a number of issues. I disagree with…
&mdash; Yann LeCun (@ylecun) <a href="https://twitter.com/ylecun/status/1797270661192155427?ref_src=twsrc%5Etfw">June 2, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/news/24/06/39128716/trump-gains-3m-followers-on-tiktok-amid-ufc-themed-debut-heres-how-bidens-super-bowl-themed-arrival?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Gains 3M Followers On TikTok Amid UFC-Themed Debut: Here&#8217;s How Biden&#8217;s Super Bowl-Themed Arrival On The Platform Did In February</a>
When a user replied to his post, accusing Meta of using misinformation and inflaming of content as a business model to drive engagement, LeCun said that it was completely false. He went on to explain that the&nbsp;side effects of simple engagement maximization, such as information bubbles and clickbaits, were discovered years ago and have since been addressed.
&#8220;For example, the way the FB Feed operates was completely overhauled in 2017,&#8221; he said, adding, &#8220;I know that a lot of the ambient discourse (particularly on X) reflects opinions similar to yours, but that&#8217;s just prejudice based on outdated data.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sorry but you&#39;re completely wrong about how Meta operates and what its effects on society are. Statements like Meta &quot;inflame and misinform as a business model to push engagement&quot; are just false. The side-effects of simple engagement maximization were discovered many years ago…
&mdash; Yann LeCun (@ylecun) <a href="https://twitter.com/ylecun/status/1797284325655822794?ref_src=twsrc%5Etfw">June 2, 2024</a></blockquote>
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Why It Matters: LeCun and Musk have been at odds since at least 2017, frequently holding divergent views on AI. Meta&#8217;s AI chief has previously disputed Musk's claim that AI will probably surpass individual human intelligence by next year.
The <a href="https://www.benzinga.com/news/24/05/39031564/elon-musk-meta-ai-chief-yann-lecun-have-a-public-spat-again-like-his-cars-his-rockets-dislike-his-ve">latest public disagreement</a> began last month when the Tesla CEO invited tech professionals to join his AI startup, xAI. LeCun responded sarcastically, disapproving of the idea, saying, &#8220;Join xAI if you can stand a boss who: – claims that what you are working on will be solved next year (no pressure).&#8221;
Meanwhile, Musk has been targeting Meta&#8217;s social media platforms like Facebook, Instagram, and WhatsApp time and again. In May, he reiterated his <a href="https://www.benzinga.com/news/24/05/39018171/elon-musk-takes-on-mark-zuckerberg-led-metas-data-security-practices-whatsapp-exports-your-user-data">doubts about WhatsApp&#8217;s data security</a> practices. &#8220;WhatsApp exports your user data every night. Some people still think it is secure.&#8221;
Previously, when Instagram said that it would prioritize original content over reposted material in its recommendations. Musk seemed to agree with a user&#8217;s humorous suggestion that this change would result in a 99% drop in Instagram content, implying that the majority of the <a href="https://www.benzinga.com/news/24/05/38571982/elon-musk-reacts-to-algorithm-changes-on-mark-zuckerberg-led-instagram-geared-toward-rewarding-origi">platform&#8217;s content is duplicated</a>.
Photo via Wikimedia
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/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>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miners are investing millions into artificial intelligence (AI) businesses, expecting billions in return as they diversify their operations.
What Happened: According to a <a href="https://www.cnbc.com/2024/06/03/bitcoin-miners-sink-millions-into-ai-business-seek-billions-in-return.html">CNBC report</a> on Monday, Core Scientific Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>), a Bitcoin mining company, announced a 12-year deal with cloud provider CoreWeave to provide infrastructure for AI use cases. This agreement is expected to generate more than $3.5 billion in revenue over the contract period.
CoreWeave, backed by AI chip giant Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), rents out graphics processing units (GPUs), essential for training and running AI models. Core Scientific will provide about 200 megawatts of infrastructure to support CoreWeave&#8217;s operations.
Core Scientific, which emerged from bankruptcy in January, has been mining a mix of digital assets since 2017. The company began diversifying into other services in 2019.
Why It Matters: Core Scientific&#8217;s AI push follows similar move by another well-known Bitcoin mining firm, Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>), <a href="https://www.benzinga.com/partner/cryptocurrency/24/04/38027655/this-bitcoin-miner-is-partnering-with-nvidia-to-provide-advanced-ai-cloud-computing-servic">which partnered with Nvidia </a>to offer AI cloud computing services
The pivot towards AI by Bitcoin miners <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38350483/bitcoin-miners-upgrade-infrastructure-embrace-ai-to-prepare-for-dip-in-revenue-after-halvi">was triggered by the halving event in April</a>, which halved the new issuance of Bitcoin. This event, designed to counter inflation, has historically preceded a significant surge in Bitcoin's price. Miners began turning to AI to mitigate the impact of the halving event.
Other miners like Bit Digital, Hive, Hut 8, and TeraWulf are also looking to bolster their revenue streams after the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38754033/bitcoin-is-getting-less-difficult-to-mine-after-halving-but-is-that-a-good-or-bad-sign">Bitcoin halving in April cut rewards paid out to miners</a> by 50%. Many are retrofitting their facilities to meet the needs of the AI market.
According to CoinShares, Bit Digital derives 27% of its revenue from AI. Hut 8 generates 6% of sales from AI, and Hive, which has data centers in Canada and Sweden, gets 4% of its revenue from these services.
Price Action: The shares of Core Scientific closed 2.53% higher at $4.87 during Monday&#8217;s regular trading session, 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>. Bitcoin was exchanging hands at $69,192.81, up 1.32% in the last 24 hours. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39151241/dog-go-to-the-moon-a-bitcoin-based-memecoin-outperformed-the-broader-market-with-25-gain-f">DOG•GO•TO•THE•MOON, A Bitcoin-Based Memecoin Outperformed The Broader Market With 25% Gain — Floki Spikes As Well</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.

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AI And Bitcoin Mining: What Core Scientific's Unexpected Partnership With Nvidia-Backed AI Firm Coreweave Tells Us

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