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Renowned financial advisor Ric Edelman has made a bold prediction about the future of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), suggesting that the cryptocurrency could reach a staggering $420,000.
What Happened: Edelman, the&nbsp;founder of the Digital Assets Council of Financial Professionals, recently shared his forecast in an&nbsp;<a href="https://finance.yahoo.com/video/start-investing-crypto-strategist-164306974.html">interview</a>&nbsp;with Yahoo Finance's "Wealth." He based his prediction on the potential impact of planned allocations from financial advisors, which could drive up the price of Bitcoin.
Edelman&#8217;s analysis suggests that if 1% of the world&#8217;s $740 trillion in financial assets were to be invested in Bitcoin, it could result in $7.4 trillion in inflows, ultimately raising the price of Bitcoin to $420,000. 
&#8220;If everybody who owns those assets were to simply allocate 1% to Bitcoin, that would represent a market cap of $7.4 trillion that translates to 420 grand per Bitcoin,&#8221; he said 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38909046/top-trader-ditches-bitcoin-for-altcoins-dogecoin-killer-shiba-inus-potential-breakout-and-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Top Trader Ditches Bitcoin For Altcoins, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Potential Breakout And More</a>
Why It Matters: The prediction from Edelman comes at a time when Bitcoin has been a topic of intense debate. Just a few days ago, well-known economist and Bitcoin critic Peter Schiff tried to downplay <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38911373/peter-schiff-says-bitcoin-is-dead-long-live-silver-but-is-it-really-true">Bitcoin&#8217;s recent surge</a>, highlighting its underperformance relative to silver. However, Edelman&#8217;s prediction suggests a very different future for the cryptocurrency.
Moreover, Edelman&#8217;s forecast aligns with the growing interest in Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38907049/former-trump-ally-anthony-scaramucci-foresees-more-pension-funds-investing-in-bitcoin-we-a">among institutional investors</a>. Just a few days ago, Anthony Scaramucci, the founder of SkyBridge Capital and a former ally of ex-President Donald Trump, predicted that more pension funds will soon include Bitcoin in their investment portfolios. 
Despite the ongoing debates about Bitcoin&#8217;s future, its popularity continues to grow. As the Bitcoin price <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38846834/bitcoin-boom-sparks-surge-in-crypto-wallet-recovery-services-its-just-pure-economics">surges, investors who have lost access</a> to their accounts are turning to crypto wallet recovery firms in droves.
The cryptocurrency market rallied handsomely on Monday over <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38930747/bitcoin-ethereum-dogecoin-shoot-up-on-one-of-the-best-days-for-crypto-in-2024-amid-ether-e">increased odds of approval</a> of spot Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETFs, with Bitcoin coming close to breaking its all-time highs.
Price Action: Bitcoin is currently trading at $70,846, marking a 0.82% decrease in the last 24 hours. Despite this short-term dip, the King Crypto has seen a remarkable 60.39% increase in value since the beginning of the year, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38926646/bitcoin-smashes-70k-ethereum-pumps-12-on-etf-approval-bombshell-odds-of-approval-75-tweets?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Smashes $70K, Ethereum Pumps 12% On ETF Approval Bombshell: &#8216;Odds Of Approval 75%,&#8217; Tweets ETF Analyst</a>
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Bitcoin Could Reach $420K With 1% Global Asset Allocation, Predicts Financial Guru Ric Edelman

<ul>
<li>Releases a family of IBM Granite models into open source, including its most capable and efficient Code LLMs that can out-perform larger code models on many industry benchmarks</li>
<li>Jointly with Red Hat, launches InstructLab, a first-of-its-kind model alignment technique, to bring open-source community contributions directly into LLMs</li>
<li>Unveils new vision and momentum for new data and automation capabilities; Accelerates generative AI infusion into IBM assistants, automation, infrastructure, resource management products and consulting services</li>
<li>Strengthens collaborations with AWS, Adobe, Meta, Microsoft, Mistral AI, Palo Alto Networks, SAP, Salesforce, and&nbsp;SDAIA to expand capabilities and offer model choice, flexibility and governance through watsonx</li>
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IBM Introduces New Developments In watsonx With Open Source, Product, And Ecosystem Innovations To Scale Enterprise AI

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Astellas Collaborates With YASKAWA To Create An Innovative Cell Therapy Ecosystem Through The Integration Of Pharmaceutical And Robotics Technologies

As analysts raised the possibility of a spot Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETF approval, big whales ramped up their bullish bets on the world&#8217;s second-largest cryptocurrency.
What Happened: James Fickel, one of the wealthiest cryptocurrency investors, swapped 350 Wrapped Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WBTC</a>) for 6,905 Ether earlier in the day, according to on-chain tracking platform Lookonchain. The newly acquired supply was worth more than $25 million at prevailing prices.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As the <a href="https://twitter.com/hashtag/SEC?src=hash&amp;ref_src=twsrc%5Etfw">#SEC</a> requires exchanges to expedite the update of 19B-4 documents on <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> <a href="https://twitter.com/hashtag/ETFs?src=hash&amp;ref_src=twsrc%5Etfw">#ETFs</a>, the probability of approval of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> <a href="https://twitter.com/hashtag/ETFs?src=hash&amp;ref_src=twsrc%5Etfw">#ETFs</a> has greatly increased. James Fickel(<a href="https://twitter.com/jamesfickel?ref_src=twsrc%5Etfw">@jamesfickel</a>) continued to borrow 350 <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WBTC</a>($25M) from <a href="https://twitter.com/hashtag/Aave?src=hash&amp;ref_src=twsrc%5Etfw">#Aave</a> and exchanged it for 6,905 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> to go long the… <a href="https://t.co/IYFmQyHVIP">pic.twitter.com/IYFmQyHVIP</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1792751619580567886?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Fickel has been longing ETH/BTC pair since the launch of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETFs in January. The founder of Amaranth Foundation has exchanged around 2,741 WBTC for 50,693 ETH since the beginning of the year.
However, the bullish sentiment was not restricted to Fickel. In the last 24 hours, the number of traders going long on ETH rose dramatically against those shorting the cryptocurrency, as per the <a href="https://www.coinglass.com/LongShortRatio">reading </a>of Coinglass' Longs/Shorts Ratio.
Why It Matters: Confidence in ETH comes as well-informed analysts<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38926646/bitcoin-smashes-70k-ethereum-pumps-12-on-etf-approval-bombshell-odds-of-approval-75-tweets"> raised their odds of a spot ETH ETF approval</a> from 25% to 75%, resulting in a broader market rally.&nbsp;
The turnaround in mood comes after months of gloomy expectations from experts about the approval, preventing the cryptocurrency from rising like other assets like Bitcoin.
ETH's large transaction volume more than tripled in the last 24 hours, indicating strong engagement from whales, <a href="https://app.intotheblock.com/?end_offset=20">according </a>to IntoTheBlock. Alongside, balances of long-term holders rose 0.38%, suggesting that the transactions were buyer-dominated.
Price Action: At the time of writing, ETH was exchanging hands at $3,695.39, following a 19% spike in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;12gfrli&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNjI1MTA3NC4yMC4xLjE3MTYyNTY3NDUuMC4wLjA.">data from Benzinga Pro.</a>
Photo by Kanchanara on Unsplash
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38922401/donald-trumps-maga-cap-sparks-60m-meme-coin-nets-millionaire-trader-7x-return-in-4-days">Donald Trump&#8217;s MAGA Cap Sparks $60M Meme Coin, Nets Millionaire Trader 7X Return In 4 Days</a>

$WBTC

Big Ethereum Whale Adds On To Bullish Long Position As Spot ETF Approval Probability Jumps — Swaps Wrapped Bitcoin Worth Over $25M For ETH

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang has highlighted the significance of the company&#8217;s partnership with Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) in expanding the <a href="https://www.benzinga.com/markets/equities/24/02/37258324/godfather-of-gpu-nvidias-jensen-huang-says-ai-factories-will-one-day-take-over-the-world">reach of its artificial intelligence technology</a>.
What Happened: In an interview with Bloomberg Television in Las Vegas, Huang said that the partnership with Dell is expected to enable a broader range of customers to establish their own &#8220;AI factories.&#8221;
&#8220;We want to bring this generative AI capability to every company in the world,&#8221; he said, adding, &#8220;It's not about just delivering a box — it's about delivering an entire infrastructure. It's an infrastructure that's insanely complicated.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/05/38909683/apples-wwdc-announcements-may-not-be-as-impressive-as-openai-google-says-gurman-they-can-improve-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s WWDC Announcements May Not Be As &#8216;Impressive&#8217; As OpenAI, Google, Says Gurman: &#8216;They Can Improve Their AI Technology Quickly And Keep Wowing Users&#8217;</a>
Nvidia&#8217;s growth strategy relies on encouraging agencies and businesses to cultivate their own AI capabilities, thereby driving demand for its products. To achieve this, they require the storage, networking, and computing solutions provided by Dell, according to Huang.
Dell ranks among the major suppliers of computing infrastructure to government agencies and businesses, a market that Nvidia does not directly cater to.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Nvidia&#8217;s stock has seen a significant rise this year, up by over 90%. The company is set to report its latest <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38928987/nvidia-q1-earnings-preview-analysts-anticipate-strong-results-top-ai-stock-best-sec">earnings on Wednesday</a>, with analysts estimating a 243% growth in sales last quarter. This rapid growth has positioned Nvidia as the third most valuable tech company, following Microsoft Corporation and Apple Inc.
In the last fiscal year, the company recorded first-quarter revenue totaling $7.19 billion. Nvidia has exceeded analysts&#8217; revenue projections for six consecutive quarters and in nine out of the last 10 quarters.
Nvidia currently has a market capitalization of more than $2 trillion. Previously it was reported that in the 1990s, Nvidia <a href="https://www.benzinga.com/markets/equities/24/05/38911606/nvidias-2-trillion-success-story-how-an-act-of-kindness-from-a-top-sega-executive-saved-the-jens">faced the threat of collapse</a>. Its initial chip failed, and subsequent attempts met a similar fate. It was during this pivotal moment that Huang approached Shoichiro Irimajiri, a prominent Sega executive, for a $5 million lifeline. 
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38916796/why-nvidias-jensen-huang-wont-slow-down-everything-else-next-to-it-is-undesirable-says-ceo-of-2-tril">Why Nvidia&#8217;s Jensen Huang Won&#8217;t Slow Down: &#8216;…Everything Else Next To It Is Undesirable,&#8217; Says CEO Of $2 Trillion Chip Empire</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.

Tech

Media

DELL

NVDA

Nvidia CEO Jensen Huang Sees Dell Partnership As Key To Wider AI Adoption: 'It's Not About Just Delivering A Box...'

In a tragic incident, Iran&#8217;s President Ebrahim Raisi was killed in a helicopter crash on Sunday. The aircraft, a US-made Bell 212 model, potentially in service since before the 1979 Islamic Revolution, crashed into an Iranian hillside, according to a report.
What Happened: The helicopter crashed into a hillside in Iran&#8217;s mountainous northwest, killing all on board, including President Raisi and his entourage. The group was returning from a dam opening ceremony near the Azerbaijan border, <a href="https://www.businessinsider.com/crashed-iran-helicopter-raisi-us-made-older-islamic-revolution-1979-2024-5">reported</a> Business Insider.
The Bell 212 was developed by the US in collaboration with the Canadian government in the mid-1960s, and its production ceased in 1998. Experts suggest that the helicopter could have been between 40 and 50 years old at the time of the crash.
Roland Dangerfield, CEO of Sentinel Aviation, emphasized the importance of the aircraft&#8217;s maintenance over its age or model. However, he noted that US trade embargoes and restrictions on helicopter parts may have hindered the Iranian regime from maintaining the Bell 212. Iran&#8217;s former foreign minister, Mohammad Javad Zarif, echoed this sentiment, suggesting US sanctions could be partly to blame for the crash.
Julian Röpcke, Security Policy and Conflicts Senior Editor at Bild, said that flying such a machine was &#8220;simply suicidal,&#8221; according to the report. 
Since 1972, Bell 212 helicopters have been involved in 432 accidents, resulting in 639 fatalities, including Sunday&#8217;s crash, according to the Flight Safety Foundation.
See Also: <a href="https://www.benzinga.com/news/24/05/38910720/sickening-trumps-nra-endorsement-slammed-by-birmingham-mayor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Sickening&#8217; — Trump&#8217;s NRA Endorsement Slammed By Birmingham Mayor</a>
Why It Matters: The crash of the helicopter carrying President Raisi and his foreign minister Hossein Amirabdollahian in heavy fog in mountainous terrain was reported by <a href="https://www.benzinga.com/news/24/05/38909714/iranian-presidents-helicopter-crashes-in-mountainous-terrain-official-says-leaders-life-at-risk">Benzinga</a> earlier. The following day, Raisi&#8217;s death was confirmed.
Raisi, a former hardline judiciary chief, became Iran's eighth president in 2021 after a historically uncompetitive presidential election. His death has led to the appointment of Mohammad Mokhber, Iran's first vice president, as the interim president. As per Iran's constitution, Mokhber will join a <a href="https://www.benzinga.com/news/24/05/38912574/mokhber-is-acting-president-of-iran-after-raisis-death-his-stance-on-us-israel-palestine-and-all-tha">three-person council to</a> organize a new presidential election within 50 days of Raisi's death.
Read Next: <a href="https://www.benzinga.com/news/24/05/38908073/trump-vs-biden-poll-reveals-surprise-preference-for-one-candidate-over-other-when-it-comes-to-econom?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Biden: Poll Reveals Surprise Preference For One Candidate Over Other When It Comes To Economy</a>
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Iranian President Ebrahim Raisi's Fatal Crash: Helicopter Reportedly Dated Back To Before The 1979 Islamic Revolution — Expert Terms It 'Simply Suicidal'

In a recent report by PwC, sectors heavily reliant on artificial intelligence are witnessing a significant surge in productivity, offering hope for a broader economic upturn.
What Happened: The PwC report, released on Tuesday, highlighted a remarkable 4.3% increase in productivity in professional and financial services and information technology from 2018 to 2022, Reuters reported.
This growth is nearly five times faster than the 0.9% recorded across construction, manufacturing, retail, food, and transport sectors.
The report suggested that the rise of AI could potentially break the cycle of low productivity growth, leading to an overall boost in economic growth, wages, and living standards.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38910114/elon-musk-counts-amazing-president-joe-biden-among-tesla-naysayers-who-wish-to-see-the-ev-maker-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Counts &#8216;Amazing&#8217; President Joe Biden Among Tesla &#8216;Naysayers&#8217; Who Wish To See The EV Maker Go Bankrupt</a>
Carol Stubbings, the head of PwC Global Markets and Tax &amp; Legal Services, noted that sectors with higher productivity also experienced faster growth in job ads for individuals with AI skills, indicating the role of AI in driving this increased productivity.
Stubbings also predicted that the trend of productivity growth driven by AI would accelerate as companies increasingly deploy generative AI, which can be used by non-AI specialists.
&#8220;The challenge with AI, and particularly generative AI, is the speed of the change,&#8221; Stubbings said.
Why It Matters: The PwC report&#8217;s findings align with the ongoing discussions around the impact of AI on the job market and the economy. Earlier this year, a MIT study suggested that the <a href="https://www.benzinga.com/news/24/01/36744236/phew-ai-wont-take-your-job-just-yet-mit-data-finds-but-theres-a-caveat">rate of job displacement</a> by AI might be slower than anticipated, due to the high cost of replacing workers with AI systems. 
However, concerns about AI&#8217;s potential to replace jobs have been widespread, with <a href="https://www.benzinga.com/news/24/05/38703371/ai-adoption-in-workplace-employees-concealing-use-of-ai-tools-for-fear-of-job-replacement-microsoft">employees concealing their use of AI tools</a> in the workplace for fear of being replaced.
On the other hand, AI experts like Geoffrey Hinton have been advocating for the implementation of a <a href="https://www.benzinga.com/news/24/05/38911101/universal-basic-income-was-a-good-idea-ai-godfather-geoffrey-hinton-warns-of-job-losses-and-extincti">universal basic income</a> to address the potential inequality arising from AI-induced job losses. 
Read Next: <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: &#8216;I Just Wanna Debate This Guy, But &#8230;&#8217;</a>
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PwC Report Shows AI-Driven Sectors Surging In Productivity, Signaling Economic Upswing

Jamie Dimon, the CEO of JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), hinted at his retirement within the next five years. This revelation has left investors and analysts speculating about the future leadership of the bank.
What Happened: Dimon, 68, disclosed his potential retirement timeline at the bank&#8217;s annual investor meeting in New York on Monday. This is a significant shift from his previous response to succession queries, where he consistently mentioned a perpetual five-year retirement plan, <a href="https://www.cnbc.com/2024/05/20/jpmorgan-ceo-jamie-dimon-retirement-approaching.html">reported</a> CNBC.
&#8220;The timetable isn&#8217;t five years anymore,&#8221; Dimon said, indicating a change in his retirement plans.
Dimon&#8217;s retirement has been a persistent topic of discussion among the bank&#8217;s investors and analysts. During his nearly two-decade tenure, he has steered JPMorgan to become the largest bank in the U.S. by various metrics.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38896118/whats-going-on-with-nio-shares-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Nio Shares Today?</a>
Despite the retirement hint, Dimon emphasized that he still has the same energy to manage the bank. The final decision on his succession will be made by JPMorgan&#8217;s board, and Dimon urged investors and analysts to consider potential candidates.
Among the potential successors are Marianne Lake, the CEO of JPMorgan&#8217;s consumer bank, and Jennifer Piepszak, who co-leads its commercial and investment bank.
Why It Matters: Dimon&#8217;s potential retirement comes at a time of significant change in the banking industry. Just a few days ago, it was reported that regulators are contemplating a significant reduction in the proposed <a href="https://www.benzinga.com/markets/equities/24/05/38910405/jamie-dimons-lobbying-pays-off-report-says-regulators-contemplate-significant-reduction-in-propo">capital norms increase for big banks</a>, a move that could impact JPMorgan and its peers.
Dimon has been vocal about the challenges and opportunities in the industry. He recently <a href="https://www.benzinga.com/news/24/05/38889820/jpmorgans-jamie-dimon-warns-of-a-lot-of-inflationary-forces-ahead-predicts-higher-interest-rates">warned of inflationary forces</a> ahead and predicted higher interest rates. He also <a href="https://www.benzinga.com/news/24/04/38308489/jamie-dimon-likens-ai-to-the-printing-press-says-it-will-be-a-huge-aid-to-recognize-patterns-of-succ">highlighted the potential of AI</a> to revolutionize the financial sector.
Read Next: <a href="https://www.benzinga.com/tech/24/05/38919616/apples-groundbreaking-iphone-16-could-spark-another-stock-surge-building-on-an-800-growth-over-the-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Groundbreaking iPhone 16 Could Spark Another Stock Surge Building On An 800% Growth Over The Last Decade</a>
Photo by Dustin Blitchok
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Equities

JPMorgan CEO Jamie Dimon Touches On Retirement Plans: 'The Timetable Isn't Five Years Anymore'

Memecoins took center stage on one of the best days for the cryptocurrency market, with the likes of Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>) turning out to be the highest gainers.&nbsp;
What Happened: The market <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38929249/crypto-market-rallies-as-sec-reportedly-moves-forward-with-ether-etf-process">rallied on higher expectations of an</a> Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETF approval by the SEC, resulting in the highest market cap growth in three months, according to Santiment.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4c8;The hype surrounding <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>&#39;s first spot <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw">#ETF</a> has been a catalyst for one of <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a>&#39;s top 5 days of 2024. <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>, <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>, <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONK</a>, &amp; <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a> are all over +20% in 24 hours. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&#39;s jump to $71.4K for the 1sttime in 6 weeks is almost an afterthought. <a href="https://t.co/M1HK8sT5jw">https://t.co/M1HK8sT5jw</a> <a href="https://t.co/fC9735hQ0e">pic.twitter.com/fC9735hQ0e</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1792723841317519598?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
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Price Action: While the rally was spurred by developments around Ether, memecoins stole the highlight yet again, as popular coins like PEPE and BONK grew by 27% and 23% respectively, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;12gfrli&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNjI1MTA3NC4yMC4xLjE3MTYyNTY3NDUuMC4wLjA.">data from Benzinga Pro.</a>
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based PEPE rose to an all-time high of $0.000011, while the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin BONK bumped to a two-month high of $0.000031. The rest of the meme coin market also reported significant gains.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10 p.m. EST)</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>+27%</td>
<td>$0.000031</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>+23%</td>
<td>$0.000011</td>
</tr>
<tr>
<td>Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>)</td>
<td>+10.48%</td>
<td>$0.000211</td>
</tr>
</tbody>
</table>
</figure>
Pepe's trading volume surged to $2.16 billion in the last 24 hours, exceeding bigger coins with larger market caps like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Bonk clocked a volume of $850 million, trumping Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)
Why It Matters: The latest rally reflected a strong appetite for meme coins, the class of cryptocurrencies <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38919018/meme-coins-still-have-plenty-of-upside-left-trader-predicts-trump-boden-to-dominate-electi">that has witnessed significant gains</a> in the year.
Social analytics platform LunarCrush highlighted bullish social media discourse around the two coins, with 82% of all BONK posts, and 80% of PEPE posts being positively weighted.
Such degrees of optimism could potentially help sustain the rally for the two meme coins.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f4ca;The charts are looking healthy across crypto today with both social and market activity zooming higher. Current leaders&#8230; Ethereum <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> Solana <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> Bonk <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONK</a> CANOT <a href="https://twitter.com/search?q=%24CANTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CANTO</a> Pendle <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PENDLE</a> DOG•GO•TO•THE•MOON <a href="https://twitter.com/search?q=%24DOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOG</a> Brett <a href="https://twitter.com/search?q=%24BRETT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BRETT</a> Gnosis <a href="https://twitter.com/search?q=%24GNO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GNO</a> Pepe <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> FriendTech <a href="https://twitter.com/search?q=%24FRIEND&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FRIEND</a>… <a href="https://t.co/rkTbVmqKTO">pic.twitter.com/rkTbVmqKTO</a>
&mdash; LunarCrush (@LunarCrush) <a href="https://twitter.com/LunarCrush/status/1792717851666919738?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Image via Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38930747/bitcoin-ethereum-dogecoin-shoot-up-on-one-of-the-best-days-for-crypto-in-2024-amid-ether-e">Bitcoin, Ethereum, Dogecoin Shoot Up On One Of The Best Days For Crypto In 2024 Amid Ether ETF Approval Buzz: Analyst Flags &#8216;Robust&#8217; US Investor Demand for King Crypto</a>

$BONK

$DOGE

$FLOKI

$PEPE

$SHIB

$SOL

$XRP

Bonk, Pepe Outstrip Gains Of Bitcoin, Ethereum Amid Searing Hot Rally — Beat Biggies Dogecoin And Shiba Inu In Trading Volumes

Federal Deposit Insurance Corp Chairman Martin Gruenberg has announced his resignation following a report that exposed rampant sexual harassment within the agency.
What Happened: Gruenberg has agreed to step down once his successor is confirmed, <a href="https://www.wsj.com/politics/policy/fdic-chairman-martin-gruenberg-resignation-ab7fed5f?mod=hp_lead_pos1">according</a> to The Wall Street Journal. This decision was made in response to mounting pressure from both Democratic and Republican lawmakers.
"It has been my honor to serve at the FDIC as Chairman, Vice Chairman, and Director since August of 2005," Gruenberg wrote to staff, according to the report.
The White House announced that President Biden will soon nominate a new FDIC chairman and expects the Senate to move quickly to confirm the nominee.
The report, which was commissioned in response to a Journal investigation, revealed allegations of widespread sexual harassment, discrimination, and bullying at the FDIC. This led to a call for new leadership at the agency by the Democratic chairman of the Senate Banking Committee, Sen. Sherrod Brown (D-Ohio).
Sheila Bair, a Republican who served as FDIC chair from 2006 to 2011, called on Monday for Gruenberg to declare his intention to resign once a new chair is confirmed. She wrote on X, &#8220;I have known and worked with Chairman Gruenberg for years. But there is a desperate need for change at the FDIC. This controversy is hurting him and his agency. For his own sake and everyone at the FDIC, he should announce his intention to resign effective with the appointment and confirmation of a new Chair.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I have known and worked with Chairman Gruenberg for years. But there is a desperate need for change at the FDIC. This controversy is hurting him and his agency. For his own sake and everyone at the FDIC, he should announce his intention to resign effective with the appointment…
&mdash; Sheila Bair (@SheilaBair2013) <a href="https://twitter.com/SheilaBair2013/status/1792570688248631561?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
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</figure>
<a href="https://x.com/SheilaBair2013/status/1792570688248631561"></a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38908102/dogecoin-rises-4-45-amidst-anonymous-120-million-doge-transfer-to-robinhood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Rises 4.45% Amid Anonymous 120 Million DOGE Transfer To Robinhood</a>
Gruenberg, who has been at the helm of the FDIC since January 2023, has faced criticism from both parties over his handling of the harassment allegations and his own alleged temper. The report also highlighted the toxic culture at the agency, which Gruenberg has pledged to address.
Why It Matters: The FDIC, under Gruenberg&#8217;s leadership, has been embroiled in controversy over the past year. In March 2023, Gruenberg warned of the risk of banks holding <a href="https://www.benzinga.com/news/23/03/31383630/regulator-knew-days-before-svb-collapse-that-620-billion-in-losses-lurked-in-financial-system">unrealized losses</a> just days before the collapse of Silicon Valley Bank. This raised questions about the stability of the banking system, which Gruenberg and other regulators defended in a <a href="https://www.benzinga.com/government/23/03/31533829/banking-system-is-sound-say-officials-in-the-face-of-a-flurry-of-questions-from-senate-banking-commi">Senate Banking Committee hearing</a> later that month.
Despite this, Gruenberg had the support of some prominent figures. Recently, Sen. Elizabeth Warren (D-Mass.) <a href="https://www.benzinga.com/government/24/05/38747370/maxine-waters-elizabeth-warren-back-fdic-chairman-with-agency-under-fire-for-toxic-workplace">defended Gruenberg</a> amid the allegations of a toxic workplace at the FDIC. However, the mounting pressure from lawmakers and the report&#8217;s findings ultimately led to Gruenberg&#8217;s resignation.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38910906/bitcoin-dogecoin-ethereum-retrace-on-profit-taking-by-retail-investors-analyst-predicts-pa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin, Ethereum Retrace On Profit-Taking By Retail Investors: Analyst Predicts Parabolic Rise For King Crypto Following Consolidation Phase</a>
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Government

FDIC Chairman Martin Gruenberg To Step Down Amid Widespread Sexual Harassment Allegations At The Agency

On Monday, Cathie Wood&#8217;s Ark Invest made some significant trades, with the most notable being the purchase of Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) and Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares.
The Shopify Trade
Ark Invest&#8217;s ETFs, including Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>), made a significant move by purchasing a total of 34,060 shares of Shopify. This move came after the company released its first-quarter earnings report earlier in the month. The trade was valued at approximately $2 million, based on Shopify's closing price of $58.91 on the day.
Shopify&#8217;s stock plunged after it reported its quarterly results, with the company clocking <a href="https://www.benzinga.com/markets/equities/24/05/38806199/cathie-woods-ark-invest-buys-18m-in-shopify-stock-amid-price-dip-sells-shares-in-bitcoin-bull-ja">fiscal first-quarter 2024</a> revenue growth of 23% year-over-year to $1.86 billion. However, the e-commerce platform company reported a loss of $ 273 million after a profit of $68 million a year ago. Despite the loss, Ark Invest saw potential in the company and made a significant investment earlier in the month.
The AMD Trade
Ark Invest&#8217;s ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) also made a significant move by purchasing 10,459 shares of Advanced Micro Devices Inc. The trade was valued at approximately $1.74 million, based on AMD&#8217;s closing price of $166.33 on the day.
AMD had failed to impress at the end of April, unlike Nvidia Corporation which has been crushing investor expectations on the back of soaring AI chip sales. However, Microsoft Corp is <a href="https://www.benzinga.com/markets/equities/24/05/38890649/microsoft-unveils-amd-powered-ai-chips-to-rival-nvidia-report">planning to introduce</a> Advanced Micro Devices Inc's artificial intelligence chips to its cloud computing customers, aiming to rival Nvidia Corp's components.
Other Key Trades: 
<ul>
<li>Ark Invest&#8217;s ARKF sold shares of Global-E Online Ltd (GLBE). Ark Invest&#8217;s ARKF also sold stock of Robinhood Markets Inc (HOOD). </li>
<li>Ark Invest&#8217;s ARK Genomic Revolution ETF (ARKG) sold shares of Exact Sciences Corp (EXAS). Ark Invest&#8217;s ARKG bought shares of CRISPR Therapeutics AG (CRSP). </li>
<li>Ark Invest&#8217;s ARKG sold shares of Teladoc Health Inc (TDOC).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/tech/24/05/38919616/apples-groundbreaking-iphone-16-could-spark-another-stock-surge-building-on-an-800-growth-over-the-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Groundbreaking iPhone 16 Could Spark Another Stock Surge Building On An 800% Growth Over The Last Decade</a>
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
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 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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ETFs

ARKF

ARKQ

SHOP

Cathie Wood's Ark Invest Buys Shares Of Nvidia-Rival AMD, Continues Its Shopify Share-Buying Spree

On Monday, major U.S. indices ended the regular session mixed. The Dow Jones Industrial Average dropped 0.49%, closing at 39,806.77. Meanwhile, the S&amp;P 500 inched up by 0.09%, ending at 5,308.13, and the Nasdaq rose by 0.65%, finishing at 16,794.87.
Information technology shares led the way, rising by 1.3%, while financial shares lagged, falling by 0.7%. European and Asian markets also posted gains, with notable increases in Germany&#8217;s DAX and Japan&#8217;s Nikkei.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)
Shares of Trump Media &amp; Technology Group fell by 4.98%, closing at $48.38. The stock hit an intraday high of $50.55 and a low of $47.84. Its 52-week range is $22.55 to $79.38. The Donald Trump-owned company reported a loss of $327.6 million for the quarter, including $311 million in non-cash expenses related to its merger with Digital World. This merger, a special purpose acquisition company, provided a quicker route to go public. More details can be found <a href="https://www.benzinga.com/news/earnings/24/05/38930777/trump-media-technology-group-reports-300m-loss-in-first-earnings-since-going-public-truth-social-pa">here</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38928371/gamestop-amc-entertainment-shares-spike-monday-afternoon-whats-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GameStop, AMC Entertainment Shares Spike Monday Afternoon: What&#8217;s Going On?</a>
Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>)
Marathon Digital Holdings Inc. surged by 14.76%, closing at $22.32. The stock reached an intraday high of $22.82 and a low of $18.87. Its 52-week range is $7.16 to $34.09. The cryptocurrency market saw a significant rally, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) nearing its all-time highs. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) gained over 20%, breaking $3,700 for the first time in over two months. Ethereum&#8217;s Open Interest also increased by nearly 28%, hitting record highs of $14.95 billion. More details can be found <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38930747/bitcoin-ethereum-dogecoin-shoot-up-on-one-of-the-best-days-for-crypto-in-2024-amid-ether-e">here</a>.
Zoom Video Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>)
Zoom Video Communications Inc. saw a slight decline of 0.11%, closing at $64.09. The stock&#8217;s intraday high was $64.5, and the low was $63.57. Its 52-week range is $58.87 to $75.91. Zoom is set to report its fiscal first-quarter results after the market close. Analysts expect earnings of $1.20 per share and revenue of $1.126 billion. Zoom has consistently beaten analyst estimates in the past six quarters. More details can be found <a href="https://www.benzinga.com/news/earnings/24/05/38924427/whats-going-on-with-zoom-video-stock-monday">here</a>.
Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>)
Palo Alto Networks Inc. rose by 1.86%, closing at $323.77. The stock&#8217;s intraday high was $324.68, and the low was $314.58. Its 52-week range is $188.3 to $380.84. The company reported quarterly earnings of $1.32 per share, beating the analyst consensus estimate of $1.25 by 5.6%. More details can be found <a href="https://www.benzinga.com/news/earnings/24/05/38926952/palo-alto-networks-shares-drop-after-q3-results-in-line-guidance-the-details">here</a>.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla Inc. shares fell by 1.41%, closing at $174.95. The stock hit an intraday high of $177.75 and a low of $173.52. Its 52-week range is $138.8 to $299.29. The company is continuing its layoffs, which are expected to last through June. Employees are reportedly anxious about their job security. More details can be found <a href="https://www.benzinga.com/news/24/05/38921912/tesla-layoffs-to-continue-through-june-morale-low-among-workers">here</a>.
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38899283/whats-going-on-with-broadcom-shares-friday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Broadcom Shares Friday?</a>
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Shivdeep Dhaliwal</a> 
 
 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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MARA

PANW

TSLA

Trump Media & Technology, Marathon Digital, Zoom Video, Palo Alto, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Tesla and SpaceX CEO Elon Musk has once again targeted Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) after a clip of Satya Nadella surfaced on social media talking about <a href="https://www.benzinga.com/news/24/03/37877280/microsoft-launches-new-ai-powered-surface-devices-for-businesses-set-to-ship-in-april">new AI capabilities in</a> Windows PCs. 
What Happened: In an interview with Wall Street Journal which was made public on Monday, <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">Nadella spoke about new AI capabilities</a> of Microsoft&#8217;s Copilot+PCs with Qualcomm chips and AI Windows.
One of the features was &#8220;Recall,&#8221; which enables Windows to take constant screenshots of the user&#8217;s screen and use a generative AI model to process the data, making it searchable. 
The clip from the video was shared by a user on X, formerly Twitter, and it sparked a strong reaction. Musk also replied saying, &#8220;Maybe it is time to move consumer desktops to&nbsp;Linux.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38910973/elon-musk-endorses-this-apple-product-as-great-and-no-its-not-iphone-or-vision-pro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Endorses This Apple Product As &#8216;Great&#8217; — And, No It&#8217;s Not iPhone Or Vision Pro</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Maybe it is time to move consumer desktops to Linux
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1792693133651918989?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
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During the interview, when Nadella was asked about people&#8217;s concerns over this feature, he said, &#8220;You have to put two things together. This is my computer, this is my Recall, and it&#8217;s all being done locally. So that&#8217;s the promise.&#8221;
Adding, &#8220;That&#8217;s one of the reasons why Recall works as a magical thing, because I can trust it that it is on my computer.&#8221;
Moreover, users can also restrict Recall from taking screenshots if they are concerned about privacy or don&#8217;t want to use the feature. 
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 suggestion&nbsp;to move consumer desktops to&nbsp;Linux is not the first time he has criticized Microsoft&#8217;s AI capabilities. Earlier this year, he complained about <a href="https://www.benzinga.com/news/24/02/37304788/elon-musk-buys-a-new-windows-pc-fears-signing-in-will-give-microsoft-ai-access-to-his-computer-this">Microsoft&#8217;s AI asking for access to his new PC</a>. 
The tech mogul said he bought a new PC but couldn&#8217;t access it without creating a Microsoft account. &#8220;Which also means giving their AI access to my computer! This is messed up,&#8221; he stated at the time. 
Last year, <a href="https://www.benzinga.com/news/23/11/35636972/elon-musk-once-again-slams-microsoft-openai-partnership-they-own-the-code-the-weights-everything">Musk also accused Microsoft</a> of controlling ChatGPT-parent OpenAI, stating, &#8220;They own the code, the weights, everything! And GPT runs in a Microsoft data center.&#8221;
<a href="https://www.benzinga.com/news/23/05/32439672/satya-nadella-says-elon-musks-claims-about-microsoft-controlling-openai-factually-not-correct">Nadella has&nbsp;denied&nbsp;these claims</a>, asserting that OpenAI is independent and operates on its own. &#8220;Look, while I have a lot of respect for Elon and all that he does, I'd just say that's factually not correct,&#8221; Nadella said in May 2023. 
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/24/05/38849496/elon-musk-recalls-breaking-friendship-with-googles-larry-page-over-ilya-sutskever-linchpin-for-opena?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Recalls Breaking Friendship With Google&#8217;s Larry Page Over Ilya Sutskever: &#8216;Linchpin For OpenAI Being Successful&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

MSFT

Elon Musk Suggests Shifting 'Consumer Desktops To Linux' As Satya Nadella Promotes Microsoft's New Windows AI Feature 'Recall' With Photographic Memory

Trump Media and Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), the owner of Donald Trump's social networking site Truth Social, reported a loss of over $300 million last quarter, marking its <a href="https://d2ghdaxqb194v2.cloudfront.net/2660/194040.pdf">first earnings report</a> as a publicly traded company.
What Happened:&nbsp;For the three months ending Mar. 31, the company posted a loss of $327.6 million, which included $311 million in non-cash expenses related to its merger with Digital World, a company created specifically to merge with a target business.
This merger is an example of a special purpose acquisition company, which provides young companies with quicker and easier routes to go public.
Trump Media reported $770,500 in revenue for the first quarter, primarily from its &#8220;nascent advertising initiative.&#8221; 
"At this early stage in the company's development, TMTG remains focused on long-term product development, rather than quarterly revenue," said Trump Media in its earnings release.
See Also: <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: &#8216;I Just Wanna Debate This Guy, But &#8230;&#8217;</a>
Why It Matters: The financial report comes after a series of significant events for Trump Media. In early May, the company handed Trump <a href="https://www.benzinga.com/markets/equities/24/05/38545262/trumps-media-company-hands-ex-president-36m-djt-shares-worth-1-8b-pushing-his-stake-beyond-5-7b">a stock bonus</a> worth $1.8 billion, pushing his stake in the company beyond $5.7 billion. This was awarded for maintaining the stock price above $17.50 for 20 consecutive trading days.
Shortly after, Trump Media&#8217;s tech-ad partner, Rumble, sued Google for over $1 billion, <a href="https://www.benzinga.com/news/24/05/38807076/trump-media-firms-tech-ad-partner-rumble-sues-google-for-1b-over-alleged-ad-monopoly">alleging monopolistic practices</a> in its digital advertising products.
Trump Media also <a href="https://www.benzinga.com/markets/equities/24/05/38649236/trump-media-technology-overhauls-auditors-amid-sec-fraud-allegations">overhauled its auditors</a> amid SEC fraud allegations and called for a legislative probe into the short-selling of its shares, a move that was <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38607861/trump-medias-call-for-short-selling-probe-a-diversion-tactic-says-herb-greenberg-be">criticized as a &#8220;diversion tactic&#8221;</a> by financial journalist Herb Greenberg.
Price Action: DJT traded at $48.45 in after-hours on Monday, up 0.14%. The stock has risen 177.25% year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38908073/trump-vs-biden-poll-reveals-surprise-preference-for-one-candidate-over-other-when-it-comes-to-econom?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Biden: Poll Reveals Surprise Preference For One Candidate Over Other When It Comes To Economy</a>
Image Via Shutterstock 
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.

Earnings

Trump Media & Technology Group Reports Over $300M Loss In First Earnings Since Going Public: Truth Social Parent 'Remains Focused On Long-Term Product Development'

The cryptocurrency market rallied handsomely on Monday over increased odds of approval of spot Ethereum ETFs, with Bitcoin coming close to breaking its all-time highs.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+8.05%</td>
<td>$71,549.15</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>+20.45%</td>
<td>$3,691.47</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+11.71%</td>
<td>$0.1661</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The second-largest cryptocurrency, Ether, raked in gains of more than 20% on the day, resulting in a breach of $3,700 for the first time in more than two months.
The upsurge caused Ethereum's Open Interest to shoot up by nearly 28% over the last 24 hours, reaching record highs of $14.95 billion.
The rally came after two prominent Bloomberg analysts, Eric Balchunas and James Seyffart raised their odds of spot Ether ETF approval to 75% from 25%. The final deadline for various applications falls later this week.
Bitcoin added significant gains as well, surging past $71,000 in the last 24 hours. The King Crypto was withing touching distance of breaching its all-time high of $73,000 set in mid-March.
The bull run triggered liquidations worth nearly $350 million in the last 24 hours, with short liquidations soaring to $272 million.
The Cryptocurrency Fear &amp; Greed Index started flashing " Extreme Greed" after more than a month, signaling high degree of FOMO in the market.
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Pyth Network (PYTH)</td>
<td>+28.92%</td>
<td>$0.48</td>
</tr>
<tr>
<td>Bonk (BONK)</td>
<td>+26.81%</td>
<td>$0.00003159</td>
</tr>
<tr>
<td>Pendle (PENDLE)</td>
<td>+24.96%</td>
<td>$5.89</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap stands at $2.62 trillion, following a 9.32% jump in the last 24 hours.
Technology stocks ascended during the trading session, with the Nasdaq Composite closing at a record high of 16,794.87, following a 0.65% gain. The Dow Jones Industrial Average fell 0.48% to end the day at 39,806.77, while the S&amp;P 500 added 0.09%, or 4,86 points, to close at 5,308.13.
The gains were driven by optimistic calls by analysts on NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) which is due to report its first-quarter earnings on Wednesday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: According to on-chain analytics firm CryptoQuant, Bitcoin's Coinbase Premium Gap surged, indicating "robust" demand from Institutional investors in the U.S.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> surged past $70K, going up over 6% in the last 24 hours. Elevated premium values on Coinbase suggest robust buying pressure from US investors. <a href="https://t.co/fr2ZMz4Roo">pic.twitter.com/fr2ZMz4Roo</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1792650484689289583?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Prominent cryptocurrency analyst Kevin noted that Bitcoin was testing the final resistance before it eventually reclaimed its previous highs.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Currently testing the final resistance before we make it back to all time highs. <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://t.co/ExshFOBtMo">https://t.co/ExshFOBtMo</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1792622613790929214?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">Senate Votes To Overturn Controversial SEC Crypto Rule, But Will Biden Veto It?</a>

Movers

Trading Ideas

Bitcoin, Ethereum, Dogecoin Shoot Up On One Of The Best Days For Crypto In 2024 Amid Ether ETF Approval Buzz: Analyst Flags 'Robust' US Investor Demand for King Crypto

Actress&nbsp;Scarlett Johansson&nbsp;has hired &#8220;legal counsel&#8221; against&nbsp;OpenAI&nbsp;for allegedly replicating her voice <a href="https://www.benzinga.com/news/23/07/33228449/hollywood-wants-to-use-ai-replicas-of-actors-for-eternity-and-give-them-just-one-days-pay">using artificial intelligence technology</a>.
What Happened: On Monday, Johansson said that she was &#8220;forced to hire&#8221; legal counsel to address the use of her voice by OpenAI&#8217;s chatbot. The actress revealed that she was approached by OpenAI CEO&nbsp;Sam Altman in September to lend her voice to the company&#8217;s AI-powered chatbot, ChatGPT. 
However, she declined the offer &#8220;after much consideration and for personal reasons,&#8221; <a href="https://www.bloomberg.com/news/articles/2024-05-20/scarlett-johansson-hired-lawyers-to-push-back-on-openai-voice?srnd=technology-vp">reported</a> Bloomberg.
&#8220;He told me that he felt that by my voicing the system, I could bridge the gap between tech companies and creatives and help consumers to feel comfortable with the seismic shift concerning humans and AI,&#8221; she said.
<a href="https://in.benzinga.com/content/38808464/you-can-use-chatgpt-4os-new-voice-feature-for-free-right-now-heres-how">OpenAI unveiled new audio tools</a> last week, accompanied by demonstrations that included a voice called, Sky, which Johansson claims sounds &#8220;eerily similar&#8221; to her own. The company has since replaced Sky with a different voice, Juniper. 
&#8220;When I heard the released demo, I was shocked, angered and in disbelief that Mr. Altman would pursue a voice that sounded so eerily similar to mine,&#8221; Johansson said in the statement.
See Also: <a href="https://www.benzinga.com/news/24/05/38909683/apples-wwdc-announcements-may-not-be-as-impressive-as-openai-google-says-gurman-they-can-improve-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s WWDC Announcements May Not Be As &#8216;Impressive&#8217; As OpenAI, Google, Says Gurman: &#8216;They Can Improve Their AI Technology Quickly And Keep Wowing Users&#8217;</a>
Why It Matters: In a blog post released on Sunday, OpenAI denied intentionally mimicking Johansson&#8217;s voice, stating that Sky&#8217;s voice belongs to a different actress using her natural speaking voice.
&#8220;We believe that AI voices should not deliberately mimic a celebrity&#8217;s distinctive voice—Sky's voice is not an imitation of Scarlett Johansson but belongs to a different professional actress using her own natural speaking voice. To protect their privacy, we cannot share the names of our voice talents,&#8221; the company stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Johansson is known for portraying characters like the Marvel superhero Black Widow. She also played the role of an AI virtual assistant in the 2013 film &#8220;Her.&#8221; The link between OpenAI and the movie was highlighted further by Altman, when he posted the word &#8220;her&#8221; on X, formerly Twitter, shortly after the release of the <a href="https://www.benzinga.com/news/24/05/38806086/openai-tries-to-steal-googles-thunder-a-day-before-search-giants-event-unveils-gpt-4o-a-chatgpt-vers">company&#8217;s newest AI model</a>.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">her
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1790075827666796666?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The use of AI to replicate celebrity voices has been a growing concern. In 2023, venture capitalist&nbsp;Tim Draper&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35342508/tim-draper-believes-ai-is-getting-smarter-warns-of-crypto-scammers-mimicking-his-voice">warned of scammers using AI to mimic his voice</a>&nbsp;for fraudulent activities in the cryptocurrency space. This issue has also affected the music industry, with artists like&nbsp;Bad Bunny&nbsp;expressing outrage over&nbsp;<a href="https://www.benzinga.com/news/23/12/36105714/bad-bunnys-outrage-against-ai-imitation-rapper-tells-fans-if-you-like-viral-tiktoks-i-dont-want-you">AI imitations of their songs going viral</a>.
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/24/05/38809935/openai-just-dropped-gpt-4o-and-these-10-examples-show-it-could-completely-change-ai-chatbot-game">OpenAI Just Dropped GPT-4o And These 10 Examples Show It Could Completely Change AI Chatbot Game</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Legal

Scarlett Johansson 'Forced To Hire' Lawyer Over AI Voice Mimicry By Sam Altman-Led OpenAI: 'I Was Shocked, Angered And In Disbelief'

Netflix Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) hit series &#8220;Baby Reindeer&#8221; could face potential legal action. According to Piers Morgan, this could be a &#8220;big problem&#8221; for the streaming platform, Richard Gadd, former comedian on whom the series is based and Clerkenwell Films, the producers. 
What Happened: Gadd has been accused of defaming a real-life individual, Fiona Harvey, who claims to be the inspiration for a character in the show. Harvey has stated her intention to take legal action against Gadd and possibly Netflix, although no formal claims have been filed yet, <a href="https://variety.com/2024/tv/global/baby-reindeer-does-real-martha-have-case-libel-netflix-1236006607/">reported</a> Variety.
&#8220;Baby Reindeer&#8221; provides a stark portrayal of Richard Gadd&#8217;s experiences in his twenties as he pursued success in the entertainment industry. Along the way, he becomes a victim of sexual assault by a prominent figure in the comedy scene and faces harassment from a stalker he encountered during his time working at a pub.
See Also: <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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid &#8216;Mass Exodus&#8217; From OpenAI&#8217;s AI Safety Team, Insider Says &#8216;Trust Collapsing Bit By Bit&#8217; In CEO Sam Altman: Report</a>
Harvey, who asserts herself as the real stalker, has denied the allegations in an interview done earlier this month with Morgan. She admitted sending him emails but denied stalking him. 
&#8220;It will take some time to gather all of the evidence and prepare a legal claim, but that process is well underway,&#8221; said U.K. lawyer Chris Daw KC, who is not yet officially representing Harvey in a legal capacity. &#8220;We are actively considering defamation, image rights and all other potential claims, arising from the use of Fiona's image in &#8216;Baby Reindeer.'&#8221;
Morgan <a href="https://www.bbc.com/news/world-europe-69034417">spoke</a> with BBC&#8217;s Laura Kuenssberg about the issue and said that issues with &#8220;Baby Reindeer&#8221; is &#8220;a big problem for Netflix, Richard Gadd and Clerkenwell Films.&#8221; He criticized the series for labeling it as a true story, especially after Harvey told him that she hadn&#8217;t been convicted of stalking and denied stalking Gadd.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The potential legal battle comes at a time when &#8220;Baby Reindeer&#8221; has been a major success for Netflix. The series has been a top 10 <a href="https://www.netflix.com/tudum/top10/united-states/tv">most watched</a> TV show on Netflix in the U.S.
Legal experts have weighed in on the potential case, with Callum Galbraith, head of media disputes at Hamlins, stating that if he had a client in Harvey's position, &#8220;You'd immediately be thinking about whether there is a possible libel action that can be brought on the basis that the allegations are untrue and are defamatory insofar as they lower her reputation in the eyes of what other people would think.&#8221; 
However, the truth is a defense, and if the producers can show that the allegations are substantively correct, they would prevail.
Another potential claim is an invasion of privacy under the Human Rights Act and Data Protection Act. To succeed, Harvey would have to show that her &#8220;reasonable expectation of privacy&#8221; was infringed and that her privacy right outweighed Netflix&#8217;s interest in telling Gadd&#8217;s story.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38909116/openais-new-model-gpt-4o-elon-musks-high-regard-for-ilya-sutskever-and-microsofts-china-move-this-we?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s New Model GPT-4o, Elon Musk&#8217;s High Regard For Ilya Sutskever And Microsoft&#8217;s China Move: This Week In Artificial Intelligence</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.

Entertainment

NFLX

Netflix's 'Baby Reindeer' Could Face Legal Action, Piers Morgan Says It's A 'Big Problem' For The Platform And Richard Gadd

Shares of streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) hit new 52-week highs Monday, which comes as the company recently shared an update on its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38788401/netflix-stock-gets-upfront-optimism-boost-from-key-ad-tier-updates-nfl">ad-supported plan.</a>
An analyst praises the company's recent updates and landing two National Football League games on Christmas.
The Netflix Analyst: Macquarie analyst Tim Nollen has an Outperform rating and a $685 price target on Netflix.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/04/38324337/netflix-q1-earnings-highlights-revenue-beat-eps-beat-9-33-million-paid-subs-added-ad-tier-plan-upda">Netflix Q1 Earnings Highlights: Revenue Beat, EPS Beat, 9.33 Million Paid Subs Added, Ad-Tier Plan Update And More</a>
The Analyst Takeaways: Recent deals with the NFL and advertising partnerships were well received by Nollen.
Nollen said that Netflix made three key announcements that are all linked. The three items were the NFL Christmas Day rights, highlighting The Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), Alphabet (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>) and Magnite (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>) as programmatic advertising partners, and updating that its ad-supported plan has reached 40 million monthly active users.
"The common theme here is advertising," Nollen said.
The analyst said Netflix is paying $75 million per game to host two Christmas Day games in 2024 and will get at least one game in each of 2025 and 2026.
"These are global rights, to be available to viewers on the ad tier in the 12 countries that have one, as well as on ad-free tiers. As such it looks like a good price compared with the $110 million Peacock paid to exclusively host an NFL playoff game this year."
Nollen said the NFL deal could help Netflix boost its advertising efforts and likely would not have been signed without having an ad-supported plan.
The partnerships with Trade Desk, Google and Magnite were not a surprise to the analyst.
"The company is building ad inventory faster than it can sell, and acknowledges that as it scales, there is a gap that may last for years."
Nollen said the recent moves by Netflix help support a positive view of the stock.
"The company is taking deliberate steps to improve its ad business, building what it can and partnering with the experts on what it cannot, to serve a large engaged audience."
NFLX Price Action: Netflix shares were up 3% to $640.82 on Monday. Netflix stock has traded between $344.73 and $644.37 over the last 52-weeks with the 52-week high set Monday. Netflix stock is up 83% over the last year.
Photo by rafastockbr on Shutterstock
Read Next: <a href="https://www.benzinga.com/general/sports-betting/24/05/38909548/2024-nfl-schedule-unpacked-media-partners-win-taylor-swift-tour-dates-considered-new-betti">2024 NFL Schedule Unpacked: Media Partners Win, Taylor Swift Tour Dates Considered, New Betting Odds And More</a>

Analyst Color

Price Target

Reiteration

Analyst Ratings

GOOG

GOOGL

MGNI

Netflix Stock Hits 52-Weeks High After NFL Deal, Ad-Supported Plan Update: Analyst Says 'The Common Theme Here Is Advertising'

In the ongoing hush money trial involving former President Donald Trump, a defense witness faced the threat of removal due to his contemptuous behavior, as revealed in a court transcript.
What Happened: Judge Juan Merchan cleared the courtroom of reporters before reprimanding Robert Costello, a former federal prosecutor. Costello&#8217;s conduct on the stand, which included muttered comments and continued speaking after objections were upheld, led to the judge&#8217;s warning, <a href="https://apnews.com/article/trump-trial-hush-money-michael-cohen-363a86879b97d2367831b1392f42689d">reported</a> AP News.
Costello, who has a significant role in the case due to his contentious relationship with Trump&#8217;s ex-lawyer Michael Cohen, was warned by Judge Merchan, &#8220;I'm putting you on notice that your conduct is contemptuous. If you try to stare me down one more time, I will remove you from the stand.&#8221;
Trump&#8217;s legal team has asked the judge to halt the case and dismiss the charges after the prosecution finished presenting their evidence. The trial is set to continue on Tuesday with further testimony from Costello.
The hush money trial centers on claims that Trump attempted to suppress damaging stories about himself and then falsified internal business records to conceal it as part of a scheme to unlawfully influence the 2016 presidential election.
See Also: <a href="https://www.benzinga.com/news/24/05/38907930/anthony-scaramucci-labels-donald-trumps-hush-money-trial-as-obligatory-loyalty-test-for-republicans?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Labels Donald Trump&#8217;s Hush Money Trial As &#8216;Obligatory Loyalty Test&#8217; For Republicans, Says &#8216;It&#8217;ll Never Be Enough For Donald Trump&#8217;</a>
Why It Matters: This trial has been a focal point of public interest, with speculation about whether <a href="https://www.benzinga.com/general/politics/24/05/38920782/will-donald-trump-testify-in-hush-money-criminal-trial">Trump himself would testify</a>. The case alleges that Trump falsified business records related to hush money payments made to adult actress Stormy Daniels.
Earlier in the trial, Trump voiced his <a href="https://www.benzinga.com/news/24/05/38805336/trump-slams-judge-defends-actions-following-michael-cohens-testimony-in-hush-money-trial-really-a-ve">discontent with the presiding judge</a> after the testimony of his former lawyer Cohen. Trump&#8217;s criticism of the judge, along with the presence of several elected officials at the courthouse, underscores the high-profile nature of this case and its potential implications for Trump&#8217;s legacy.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/05/38910720/sickening-trumps-nra-endorsement-slammed-by-birmingham-mayor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Sickening&#8217; — Trump&#8217;s NRA Endorsement Slammed By Birmingham Mayor</a>
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Trump's Hush Money Trial Takes A Dramatic Turn As Judge Threatens To Eject Defense Witness: 'If You Try To Stare Me Down One More Time...'

In the latest development of an ongoing feud, Rep. Marjorie Taylor Greene (R-Ga.) has posted a workout video as a response to Rep. Jasmine Crockett (D-Texas), defending her physical appearance.
What Happened: Greene uploaded a video on X, formerly Twitter, of herself weightlifting, accompanied by Sia&#8217;s 2016 song, &#8220;Unstoppable&#8221;. In the caption, the 49-year-old congresswoman stated, &#8220;Yes my body is built and strong NOT with nips, tucks, plastic, or silicone, but through a healthy lifestyle,&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes my body is built and strong &#x1f4aa; NOT with nips, tucks, plastic, or silicone, but through a healthy lifestyle. Soon turning 50 years old, God willing, I will continue to lift, run, swim, play sports, surf, ski, climb and LIVE this life to the fullest and enjoy every single… <a href="https://t.co/DSkqJEuEnM">pic.twitter.com/DSkqJEuEnM</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1792557434541596962?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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This video comes in the wake of a confrontation with Crockett during a House Oversight Committee hearing last week. The argument included a jab at Greene&#8217;s physique by Crockett, who later initiated a fundraiser selling T-shirts with the phrase: &#8220;Bleach Blonde Bad Built Butch Body,&#8221; <a href="https://thehill.com/homenews/house/4674909-marjorie-taylor-greene-workout-video-response-jasmine-crockett/">reported</a> The Hill.
See Also: <a href="https://www.benzinga.com/news/24/05/38909985/this-important-evidence-could-determine-donald-trumps-fate-in-his-hush-money-trial?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Important Evidence Could Determine Donald Trump&#8217;s Fate In His Hush-Money Trial</a>
Greene, a known enthusiast of the fitness program CrossFit, has previously posted workout videos. In 2020, she shared a clip of herself exercising in her hotel room as a protest against COVID-19 pandemic-related shutdowns.
Why It Matters: This incident is a continuation of a contentious relationship between the two representatives. According to a <a href="https://www.benzinga.com/news/24/05/38907900/marjorie-taylor-greene-accused-of-racist-behavior-by-jasmine-crockett-over-fake-eyelashes-comment">Benzinga report</a>, Crockett accused Greene of racism following a comment about her &#8220;fake eyelashes&#8221;. This led to a heated exchange, with Crockett asserting that Greene&#8217;s remarks were racially charged.
Following this, Crockett announced the <a href="https://www.benzinga.com/news/24/05/38910889/fiery-exchange-with-marjorie-taylor-greene-prompts-jasmine-crockett-to-launch-clapback-t-shirt-colle">launch of a T-shirt line</a> to support Democratic candidates, inspired by her exchange with Greene. The collection includes a T-shirt with the phrase &#8220;Bleach Blonde Bad Built Butch Body&#8221; which appears to have inspired the latest post by Greene.
Photo courtesy: Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: &#8216;I Just Wanna Debate</a>
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 Shivdeep Dhaliwal</a> 
 
 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
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Marjorie Taylor Greene Posts Workout Video In Comeback Against Crockett's 'Clapback' Apparel: 'My Body Is Built And Strong'

Belo Sun Mining (TSE:BSX) has released an update. Belo Sun Mining Corp. has announced a significant shift in its executive team, with Mr. Peter Tag...

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Tuesday, May 24, 2022