Latest news for China Vanke Co (OTC:CHVKF) Stock

China Vanke is a large real estate developer in China with residential property sales among the top three of all peers through the past five years. While property development accounts for most of its revenue and earnings, it has expanded its business presence in investment properties such as commercial retail complexes, long-term leasing apartments, and leasable logistical assets. China Vanke also owns an over-60% equity interest in its property management division Onewo, which manages the second-largest gross floor area in China. It is dual-listed in Shenzhen and Hong Kong, and state-owned Shenzhen Metro is the largest shareholder with a 27.2% stake.

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Over the past 12 months, about two-thirds of Chinese property developers have defaulted on their offshore debt. The most recent debt default was by China SCE Group Holdings Ltd.

There Are Now Just 14 Chinese Property Developers Who Have Still Not Defaulted - Who Are They?

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Despite a significant rise in market valuations and growing use cases, veteran stock picker Warren Buffett's opinions on cryptocurrencies haven't changed for the better.&nbsp;
What has changed is the perspective of certain cryptocurrency tycoons, who went from calling Buffett's stance a &#8220;big mistake&#8221; to recognizing his freedom of choice.
What happened: Back in Jan. 2018, Buffett, Chairman and CEO of Berkshire Hathaway, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42184221/warren-buffett-once-predicted-a-bad-ending-for-crypto-since-then-the-sectors-market-cap-has-quadrupled-riding-on-the-bitcoin-dogecoin-waves">earned the ire</a> of the cryptocurrency advocates by making a gloomy prediction for the asset class.
"In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending,&#8221; he said.&nbsp;
The remark drew outrage and even prompted a response from Changpeng Zhao, the founder and former CEO of cryptocurrency behemoth Binance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>). With a net worth of $33 billion as per <a href="https://www.forbes.com/billionaires/">Forbes</a>, CZ is the wealthiest cryptocurrency personality as of this writing.
"I do not think he understands cryptocurrencies at all. It is what it is," Zhao, popularly known as &#8220;CZ,&#8221; <a href="https://www.bloomberg.com/news/articles/2018-01-11/world-s-top-ranked-crypto-venue-added-240-000-users-in-one-hour">said </a>in a Bloomberg interview a few days later.
CZ went on to say that, while he respects Buffett&#8217;s accomplishments over the years, the &#8220;Oracle of Omaha&#8221; was making a &#8220;big mistake&#8221; when it came to cryptocurrency.
The following year, the Binance founder declined an invitation by Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) founder Justin Sun to attend a lunch date with Buffett.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43151588/cathie-wood-was-asked-if-she-would-buy-trump-coin-heres-what-she-said">Cathie Wood Was Asked If She Would Buy TRUMP Coin, Here&#8217;s What She Said</a>
While one would assume CZ would use his influence to get one of the biggest investors in history on cryptocurrency's side, this wasn't the case.
Nearly four years after he termed Buffett&#8217;s aversion to cryptocurrencies a mistake, CZ<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43023667/if-you-invested-1000-in-bitcoin-when-changpeng-cz-zhao-refused-to-convince-warren-buffett-about-investing-in-crypto-heres-how-much-youd-have-today"> said it's not "necessary" </a>for everyone to get exposure to the asset class.
&#8220;I wouldn't convince him to invest in crypto," CZ said about Buffett, invoking ideals of freedom.
Why It Matters: It remains to be seen whether Buffett&#8217;s position on cryptocurrencies will change in his lifetime. 
While he made headlines with his unpleasant remarks, the Berkshire Hathaway Chairman has made no mention of the asset class in recent years. This is despite Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the largest cryptocurrency, rising by up to 177% in the last three years.
Price Action: At the time of writing, Bitcoin was exchanging hands at $105,218.97, up 2.74% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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From He's Making A 'Big Mistake' To No Need To Convince Him, Here's How Crypto's Wealthiest Man Shifted Stance On Bitcoin Critic Warren Buffett

In a strategic pivot, Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is redirecting its Prime Video efforts towards live sports content, a move aimed at achieving profitability by the end of 2025.
What Happened: Amazon.com is pivoting its Prime Video strategy towards live sports, moving away from original TV shows and movies, according <a href="https://www.theinformation.com/articles/amazons-prime-video-shifts-to-profits-promoting-rival-streamers">to</a> a report by The Information. This strategic shift is aimed at meeting internal profit targets by the end of 2025.
According to the report, Amazon is investing approximately $3 billion annually in sports content, including broadcasting rights for major leagues like the NBA and NFL. This move is part of CEO Andy Jassy&#8217;s plan to make Prime Video profitable.
The focus on live sports is driven by the potential for targeted advertising opportunities during real-time viewership.
In July, Amazon, alongside Walt Disney Co. and Comcast Corp., secured an 11-year deal valued at $77 billion to broadcast NBA games. The company has also started integrating ads within its Prime Video platform to enhance revenue streams.
The report highlights that after a 2022 planning meeting, Amazon&#8217;s entertainment team has reduced the commissioning of new film and TV projects. For 2024, the company&#8217;s budget for original and licensed content, including live sports was around $7 billion.
Why It Matters: This shift towards live sports is part of Amazon&#8217;s broader strategy to capitalize on the lucrative sports market. In August 2024, <a href="https://www.benzinga.com/general/entertainment/24/08/40578594/travis-kelce-jason-kelce-sign-100m-podcast-deal-with-amazon-ecommerce-giant-bets-big-on-nfl">Amazon</a> signed a $100 million deal with the Kelce brothers for their popular sports podcast, further embedding itself in the NFL ecosystem.
This aligns with CEO Andy Jassy&#8217;s vision to keep advertising minimal compared to competitors like Netflix and YouTube, as noted in an <a href="https://www.benzinga.com/general/entertainment/24/08/40127469/amazon-ceo-says-while-ads-have-become-a-norm-prime-video-intends-to-have-meaningfully-fewer">August statement</a>.
Additionally, Amazon&#8217;s introduction of an ad-supported version of Prime Video has disrupted the streaming ad market, compelling rivals like Netflix to adjust their ad pricing strategies, as reported in <a href="https://www.benzinga.com/general/entertainment/24/06/39330119/how-amazon-prime-videos-ad-supported-version-reportedly-disrupted-netflix-youtube-and-tv-ne">June 2024</a>. This strategic focus on live sports and innovative advertising models is part of Amazon&#8217;s efforts to enhance its competitive edge and profitability in the streaming industry.
Check out more of Benzinga's Consumer Tech coverage by<a href="https://www.benzinga.com/topic/consumer-tech"> following this link</a>.
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Amazon Prime Video Shifts Focus To Live Sports, Looks To Become Profitable By End Of 2025

In a significant move, Epic Games is expanding its mobile game store to include nearly 20 third-party games on Android worldwide and iOS within the European Union.
This expansion is accompanied by the launch of a free games program on mobile platforms.
What Happened: To incentivize developers to participate in its free games program on iOS, Epic will cover the Core Technology Fee (CTF) for one year, according to a report <a href="https://www.theverge.com/2025/1/23/24349542/epic-games-third-party-developers-apple-google-europe">by</a> The Verge. This fee, amounting to €0.50 per install, applies to iOS apps using third-party stores after exceeding 1 million annual downloads.
Epic has criticized the CTF as a hindrance to competition.
Tim Sweeney, CEO of Epic Games, emphasized the company&#8217;s ambition to establish a unified, cross-platform store. He stated, "Our aim here isn't just to launch a bunch of different stores in different places, but to build a single, cross-platform store."
The iOS Epic Games Store is currently operational only in the EU, facilitated by the Digital Markets Act (DMA), which requires Apple Inc. to open its ecosystem. Epic is hopeful that the European Commission will scrutinize Apple&#8217;s adherence to the DMA.
Epic has encountered obstacles in the U.S., including a prominent lawsuit against Apple in 2020. Sweeney remains hopeful about achieving app store freedom, particularly in Europe, through strong enforcement of the DMA.
Why It Matters: The expansion of Epic&#8217;s mobile store comes amid a prolonged legal battle with tech giants Apple and Alphabet. <a href="https://www.benzinga.com/media/25/01/43183396/epic-games-ceo-tim-sweeney-prepared-to-spend-billions-for-decades-fighting-apple-google-monopolies-we-think-our-best-days-are-ahead">Tim Sweeney</a> has expressed his readiness to continue this fight for decades if necessary, highlighting the company&#8217;s commitment to challenging what it perceives as monopolistic practices.
In October 2024, a federal judge granted Google temporary relief in an antitrust lawsuit filed by Epic, allowing the Play Store to remain closed to competitors for the time being. This legal struggle underscores the ongoing tension between Epic and major tech companies over app store restrictions.
Epic&#8217;s financial stability was reaffirmed by Sweeney in October 2024, following significant layoffs and strategic divestitures. Despite these challenges, Epic continues to push for a more open and competitive app store environment, particularly in Europe, where the DMA provides a legal framework for such efforts.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/25/01/43215356/metas-threads-to-introduce-ads-in-us-japan-as-it-looks-to-monetize-rival-of-elon-musks-x">Meta&#8217;s Threads To Introduce Ads In US, Japan As It Looks To Monetize Rival Of Elon Musk&#8217;s X</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Epic Games Expands Mobile Store, Launches Free Games Program: To Cover iOS Developer Fees

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has had a <a href="https://www.benzinga.com/markets/equities/25/01/43150661/apples-510-billion-market-cap-drop-opens-door-for-nvidia-to-reclaim-worlds-largest-company-title-amid-iphone-makers-china-struggles">turbulent beginning to 2025,</a> with its shares approaching a significant level that could signal further losses if breached, according to analysts. 
What Happened: Since the start of the year, the tech behemoth&#8217;s stock has plummeted by 11%, making it the weakest&nbsp;performer in the &#8216;Magnificent 7&#8217;&nbsp;group. This downturn is in stark contrast to the S&amp;P 500, which has seen a 4% gain, reaching a new record high.
Apple is experiencing its most challenging beginning of the year since 2008. The stock&#8217;s drop has brought it near the 200-day moving average, a critical technical indicator seen by many traders as a long-term support level.
&#8220;When&nbsp;you get names starting to&nbsp;flirt with it or start&nbsp;to break below it, you&nbsp;kind of lose confidence that&nbsp;the uptrend of that name&nbsp;is still intact,&#8221; Todd Sohn, an ETF&nbsp;and technical strategist at Strategas&nbsp;Securities LLC, <a href="https://www.bloomberg.com/news/articles/2025-01-24/apple-aapl-shares-test-key-technical-level-amid-worst-start-since-2008">told</a> Bloomberg.
See Also: <a href="https://www.benzinga.com/tech/25/01/43214225/apple-co-founder-steve-jobs-in-1981-said-homes-werent-ready-for-personal-computers-three-years-later-cupertino-launched-the-macintosh-and-made-history">Apple Co-Founder Steve Jobs In 1981 Said Homes Weren&#8217;t Ready For Personal Computers — Three Years Later, Cupertino Launched The Macintosh And Made History</a>
Why It Matters: Apple&#8217;s position is now precarious. Until recently, it was the world's most valuable company and had the largest weighting in the S&amp;P 500 Index. However, amid its decline, <a href="https://www.benzinga.com/markets/equities/24/10/41551461/nvidia-overtakes-apple-as-worlds-most-valuable-company-again">Nvidia has now overtaken Apple</a> in market value.
Despite Apple&#8217;s selloff, the S&amp;P 500 has continued to rally. However, if other major tech stocks start to decline, it could signal trouble for the bull market, now in its third year. "It definitely has the potential to create some more risk for those major indices. If we see that downside follow-through that we're anticipating, that makes it more challenging, of course, for those indices to shrug it off," said Katie Stockton, managing partner and founder of Fairlead Strategies LLC
Apple is scheduled to release its quarterly earnings on January 30, after market close, an event that investors are closely watching.&nbsp;Despite the stock&#8217;s current performance, analysts remain optimistic about Apple&#8217;s future.&nbsp;Laura Martin, an analyst at Needham, believes that Apple&#8217;s&nbsp;<a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/43110913/apples-iphone-dependence-remains-but-services-wearables-offer-growth-potential-analyst">dependence on the iPhone</a>&nbsp;remains, but services and wearables offer growth potential. Additionally,&nbsp;Wamsi Mohan&nbsp;of Bank of America Securities predicts that Apple&#8217;s&nbsp;<a href="https://www.benzinga.com/25/01/43198886/apples-q1-earnings-might-not-miss-a-beat-even-as-iphone-sales-stumble-analyst">Q1 earnings</a>&nbsp;might not miss a beat, despite a softer iPhone cycle.
Earlier this week, President Donald Trump announced that Apple was planning a <a href="https://www.benzinga.com/markets/equities/25/01/43079785/trump-announces-apple-plans-massive-investment-in-the-us-following-discussion-with-ceo-tim-cook">&#8220;massive investment&#8221;</a> in the United States. This was part of Trump&#8217;s initiative to accelerate major corporate investments in the U.S.
Price Action: Apple shares ended 0.39% lower on Friday. Year-to-date the company&#8217;s shares lost 8.64%, as <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">reported by Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40591422/steve-jobs-once-said-he-was-a-millionaire-at-23-worth-10m-by-24-and-had-100m-by-25-this-shaped-his-d" target="_blank" rel="noreferrer noopener">Steve Jobs Once Said He Was A Millionaire At 23, Worth $10M By 24, And Had $100M by 25 — This Shaped His Decision To Stay On A $1 Salary Throughout His Time At Apple</a></li>
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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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Apple Stock Nears Critical Level Amid Worst Start To The Year Since 2008: 'When You Get Names Starting To Flirt With It...You Kind Of Lose Confidence'

In what has emerged as the largest healthcare data breach in the U.S., the UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) cyberattack last year compromised the personal data of 190 million Americans.
The <a href="https://www.benzinga.com/news/large-cap/24/02/37284799/whats-going-on-with-uanitedhealth-stock-friday">breach</a>, which occurred in February 2024, caused widespread disruption in the U.S. healthcare system and <a href="https://www.benzinga.com/news/large-cap/24/04/38388554/patient-data-compromised-unitedhealth-group-admits-ransom-payment-in-cyberattack">delayed</a> billions of dollars in payments to medical providers.
What Happened: The largest health insurer in the U.S. stated that there is no evidence of misuse of the exposed data or unauthorized access to electronic medical records.
UnitedHealth has informed most affected individuals about the breach. The final impact figures will be submitted to the U.S. Department of Health and Human Services' Office for Civil Rights.
The incident has sparked a Congressional inquiry, raising concerns about the risks of concentrating medical data within UnitedHealth.
Why It Matters: The cyberattack on UnitedHealth has had far-reaching consequences. In March 2024, the company<a href="https://www.benzinga.com/news/large-cap/24/03/37989390/unitedhealths-cyberattack-company-provides-aid-of-over-3b-to-affected-providers"> disclosed</a> that it had provided over $3.3 billion in advance payments to healthcare providers affected by the attack on its subsidiary, Change Healthcare.
This platform processes about 50% of U.S. medical claims, impacting nearly 900,000 physicians and numerous healthcare facilities. More than 40% of the aid was directed to safety net hospitals and health centers serving high-risk communities.
In April 2024, UnitedHealth <a href="https://www.benzinga.com/news/large-cap/24/04/38388554/patient-data-compromised-unitedhealth-group-admits-ransom-payment-in-cyberattack">admitted</a> to paying a ransom to cybercriminals following the attack, highlighting the severity of the breach. The company has been working with law enforcement and cybersecurity experts to investigate the incident.
In May 2024, UnitedHealth CEO Andrew Witty <a href="https://www.benzinga.com/government/24/05/38563578/us-senate-grills-unitedhealth-ceo-over-cyberattack-fallout-ransom-payment">assured</a> a U.S. Senate panel that the company&#8217;s issues did not pose a systemic risk to the broader economy. Senators had raised concerns about the potential impact of the cyberattack on patients and healthcare providers.
In December 2024, the Nebraska Attorney General <a href="https://www.benzinga.com/general/health-care/24/12/42621731/nebraska-attorney-general-sues-unitedhealth-over-massive-data-breach-that-disrupted-healthcare">filed</a> a lawsuit against UnitedHealth and its subsidiaries, alleging violations of consumer protection laws following the breach, which affected 575,000 Nebraskans.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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UnitedHealth Cyberattack Exposed Personal Data Of 190 Million Americans

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has taken a major step to strengthen its AI and Siri capabilities by making a notable leadership change. The company has appointed Kim Vorrath, a veteran executive with years of experience at Apple, as a senior leader in its artificial intelligence and machine learning division.
What Happened: Vorrath, who played a pivotal role in the launch of Vision Pro software, will now work closely with AI chief John Giannandrea, <a href="https://www.bloomberg.com/news/articles/2025-01-24/apple-enlists-company-veteran-kim-vorrath-to-help-fix-ai-and-siri?srnd=undefined">reported</a> Bloomberg on Friday. This move is seen as Apple&#8217;s effort to infuse more rigor into its AI development, indicating the company&#8217;s recognition of AI&#8217;s significance for its future.
Apple showcased its AI advancements at last year's WWDC, but they have yet to achieve the impact of rivals like OpenAI's ChatGPT or Google's Gemini. While the company has been steadily expanding its AI initiatives, a significant Siri upgrade is anticipated with iOS 18.4. However, its AI-powered news notification summaries, launched earlier, will be paused in iOS 18.3 following criticism over their lack of accuracy.
See Also: <a href="https://www.benzinga.com/25/01/43214849/mark-zuckerbergs-65-billion-bet-benefits-nvidia-and-other-ai-players-top-analyst-warns-the-run-will-end-in-a-spectacular-bubble-burst">Mark Zuckerberg&#8217;s $65 Billion AI Bet Benefits Nvidia And Other Players, Says Top Analyst, But Warns Market Bull Run Will &#8216;End In A Spectacular Bubble Burst&#8217;</a>
Apple's decision to bring Vorrath, a seasoned executive with a legacy that includes contributions to the original iPhone software team, into the AI division signals a strategic shift in focus. According to the report, the AI team is now prioritizing the overhaul of Siri's core infrastructure and the refinement of Apple's in-house AI models.
Why It Matters: Apple&#8217;s AI advancements are being closely watched, especially in light of the company&#8217;s recent challenges in the Chinese market. JPMorgan analyst Samik Chatterjee sees currency woes, China struggles, and lukewarm AI adoption as hurdles for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43097512/apples-ai-advances-cant-offset-chinese-market-slowdown-says-analyst">Apple&#8217;s upcoming earnings.</a> The company&#8217;s grip on China is weakening, and with Beijing&#8217;s push to boost domestic brands, Apple is losing its competitive edge in a critical growth market.
Earlier this month, Apple pledged to <a href="https://www.benzinga.com/25/01/42836957/apple-acknowledges-ai-flaws-after-bbc-complaint-vows-fix-for-misleading-news-summaries">improve its AI feature</a> after a complaint from the BBC. The company admitted that its AI-generated news summaries on iPhones had been inaccurate.
In November 2024, <a href="https://www.benzinga.com/news/24/11/41773589/apple-signals-profit-risks-in-ai-and-vr-shift-what-it-means-for-investors">Apple cautioned investors </a>about potential profit risks tied to its emerging technologies, noting that these innovations might not deliver the same revenue or profit margins as its flagship iPhone lineup.
Price Action:&nbsp;Apple shares ended 0.39% lower on Friday. Year-to-date the company's shares lost 8.64%, as&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">reported by Benzinga Pro</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>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Apple Shakes Up AI Division, Taps Veteran Kim Vorrath To Bolster Siri

A prominent&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) analyst on Friday contradicted earlier rumors about the&nbsp;iPhone 17&#8216;s Dynamic Island, suggesting that it will remain largely unchanged.
What Happened: Apple analyst Ming-Chi Kuo, in a post on X revealed that the size of the Dynamic Island will stay &#8220;largely unchanged&#8221; in the iPhone 17 lineup.
<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">預期2H25 iPhone 17系列的動態島大小幾乎沒什改變 I expect the Dynamic Island size to remain largely unchanged across the 2H25 iPhone 17 series
&mdash; 郭明錤 (Ming-Chi Kuo) (@mingchikuo) <a href="https://twitter.com/mingchikuo/status/1882836782217310496?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also:&nbsp;<a href="https://www.benzinga.com/news/25/01/43200809/openais-sam-altman-flip-flops-on-trump-after-500-billion-stargate-ai-project-says-i-wish-i-had-done" target="_blank" rel="noreferrer noopener">OpenAI's Sam Altman Flip Flops On Trump After $500 Billion Stargate AI Project, Says ‘I Wish I Had Done More Of My Own Thinking'</a>
This information contradicts previous speculations of a design modification for the iPhone 17 models. Analyst Jeff Pu had earlier hinted that&nbsp;Apple might incorporate a &#8220;metalens&#8221;&nbsp;for Face ID on the&nbsp;iPhone 17 Pro, leading to a &#8220;much narrowed&#8221; Dynamic Island.
Why It Matters: While rumors continue to circulate about a smaller cutout to increase screen space, it remains unclear if Apple will implement this hardware change. However, reports suggest that Apple is planning other design updates for the iPhone 17 lineup.
The iPhone 17 series is rumored to feature an upgraded display technology, <a href="https://www.benzinga.com/tech/24/12/42736353/iphone-17-to-get-display-upgrade-as-apple-finally-ditches-60hz-technology-new-leak-reiterates-possibility">with a possible 120Hz ProMotion rate</a>, a feature previously exclusive to Pro models. 
Meanwhile, despite rumors of a radical horizontal camera layout, the iPhone 17 Pro could retain its distinctive &#8220;triangular&#8221; camera design, <a href="https://www.benzinga.com/24/12/42666163/iphone-17-pro-could-retain-iconic-triangular-camera-design-despite-rumors-of-a-radical-horizontal-layout">as per a&nbsp;report&nbsp;by MacRumors.</a>
iPhone sales continue to make up roughly half of Apple's total revenue. In October, the company reported fiscal fourth-<a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">quarter revenue of $94.9 billion</a>, exceeding analyst expectations of $94.56 billion. iPhone sales alone totaled $46.22 billion, an increase from $43.8 billion in the previous year.
Price Action:&nbsp;Apple shares ended 0.39% lower on Friday. Year-to-date the company's shares lost 8.64%, as&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">reported by Benzinga Pro</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>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Apple

Apple's iPhone 17 Dynamic Island To Remain 'Largely Unchanged' Despite Prior Rumors, Says Top Analyst

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is set to introduce advertisements on its social media platform, Threads. The ads will initially be rolled out in the United States and Japan, starting with a select group of brands, according to a post by Instagram boss Adam Mosseri.
What Happened: Mosseri announced the move on Friday, describing it as a &#8220;test.&#8221; Meta plans to closely monitor the results of this test before considering a broader rollout. The goal is to ensure that advertisements on Threads are as engaging as organic content, Mosseri stated.
"We're starting a small test for ads on Threads with a handful of brands in the US and Japan. We know there will be plenty of feedback about how we should approach ads, and we are making sure they feel like Threads posts you'd find relevant and interesting.", Mosseri said in a <a href="https://www.threads.net/@mosseri/post/DFN0dSVhL26">post</a> on Threads.
Launched by Meta&#8217;s Instagram team in <a href="https://www.benzinga.com/news/23/07/33160048/threads-app-hits-100m-users-in-just-five-days-becomes-the-fastest-growing-app-in-history">mid-2023</a>, Threads is positioned as a rival to Elon Musk&#8217;s X. As of December, Threads has achieved 300 million monthly users and over 100 million daily users, according to CEO Mark Zuckerberg.
While the long-term revenue potential for Threads remains uncertain, it will leverage Meta&#8217;s existing advertiser base and its capability to target consumers precisely.
Analyst Jasmine Enberg from Emarketer noted that the move might capitalize on the current instability in the social media sector, considering X&#8217;s challenges and uncertainties surrounding TikTok.
Why It Matters: The introduction of ads on Threads comes amid a period of significant growth for the platform. In December 2024, <a href="https://www.benzinga.com/general/social-media/24/12/42525426/threads-reaches-100-million-daily-active-users-as-meta-capitalizes-on-exodus-from-elon-musks-x-to-alternative-platforms">Threads reached 100 million daily active users</a>, as Meta capitalized on users migrating from Elon Musk&#8217;s X to alternative platforms.
In early December 2024, Threads introduced <a href="https://www.benzinga.com/general/social-media/24/12/42305424/threads-takes-on-x-bluesky-with-new-search-options-making-it-easier-for-you">new search tools</a> to enhance user experience, allowing refined searches by profile and date range. This move was part of Meta&#8217;s strategy to compete with X and the rapidly growing Bluesky.
Back in November 2024, it was reported that <a href="https://www.benzinga.com/general/social-media/24/11/41963996/mark-zuckerbergs-meta-eyes-2025-to-introduce-ads-on-threads-as-elon-musks-x-loses-favor-with-major-brands-report">Meta planned to introduce ads on Threads</a> in early 2025, as X was losing favor with major brands. This strategic move aims to capitalize on Threads&#8217; rapid expansion, with monthly active users reaching 175 million by the end of June 2024.
Meta&#8217;s decision to introduce ads on Threads is a significant step in its ongoing battle with X for social media dominance. As of October 2024, Threads had <a href="https://www.benzinga.com/general/social-media/24/10/41657772/musk-thinks-threads-is-boring-but-275-million-monthly-users-signal-zuckerbergs-platform-coul">averaged</a> 1 million new sign-ups daily, highlighting its potential as a fast-growing platform.
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Meta's Threads To Introduce Ads In US, Japan As It Looks To Monetize Rival Of Elon Musk's X

Wedbush Securities on Friday raised its price target on <a href="https://www.benzinga.com/24/12/42554232/oklo-stock-is-surging-wednesday-morning-whats-going-on">energy company</a> Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) to $45 from $26 while maintaining an &#8220;outperform&#8221; rating citing increased confidence in the AI revolution data center buildout increasing under the new Trump Administration.
What Happened: Oklo, backed by OpenAI CEO Sam Altman, is developing nuclear fission power plants to provide energy at scale. Wedbush said in a note on Friday that it believes nuclear energy will ultimately play a key role in powering data centers, given <a href="https://www.benzinga.com/news/25/01/43173306/elon-musk-says-project-stargate-doesnt-actually-have-the-money-after-trump-announces-500-billion-ai">Project Stargate</a> is merely the start of a larger AI initiative.
Given Altman&#8217;s key AI role, Oklo too, will be a major player, Wedbush said. 
According to Wedbush, the &#8220;AI revolution&#8221; is driving demand for clean energy to power AI initiatives with the need for computing power only expected to grow. Oklo, it says, is in a great position to capitalize on the elevated demand. 
Further, the company&#8217;s business model involves selling its power directly to customers and not the reactors under long-term contracts, enabling it to make long-term recurring revenues, it said. 
Why It Matters: Oklo, however, is yet to make a revenue and reported a net loss of over $63 million for the nine months through the end of September.
Oklo shares closed up 7.8% at $41.82 on Friday. The stock is up 91.4% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>. 
Oklo has a consensus price target of&nbsp;$28.67&nbsp;based on the ratings of&nbsp;4&nbsp;analysts tracked by Benzinga and a consensus &#8220;buy&#8221; rating. 
Earlier this month, Citigroup increased the stock&#8217;s target price to $31 from $10, while maintaining a &#8220;neutral&#8221; rating. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="387" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/25014643/image-194-1024x387.png" alt="" class="wp-image-749641" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/25014643/image-194-1024x387.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/25014643/image-194-300x113.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/25014643/image-194-768x290.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/25014643/image-194.png 1189w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Photo courtesy: Oklo

Analyst Color

Price Target

Analyst Ratings

OKLO

Wedbush Hikes Target Price On Sam Altman-Backed Oklo To $45 On Hopes Of AI Raising Power Demand

Federal Trade Commission (FTC) Chairman Andrew Ferguson reportedly acknowledged staff anxiety about returning to work at the office full-time on Friday but said the pandemic is now over. 
What Happened: Ferguson told Reuters that the Covid pandemic is long over and workers need to be at their desks. 
Ferguson also reportedly said that virtual working &#8220;undermined the rich and unique culture that long made the FTC one of the best places to work in the federal government.&#8221; He added that new employees would get a better grip on their work if they interacted with other employees in person instead of via a computer screen.
Currently, about 80% of the workforce at the agency works from home for most of the week. 
<a href="https://www.benzinga.com/government/regulations/25/01/43084601/trump-day-1-executive-order-tsunami-incoming-energy-inflation-immigration-in-focus-but-what-about-tariffs">President Trump</a>, after swearing-in on Monday, signed an executive order ordering federal workers back to the office. Ferguson expects FTC staff to revert to full-time at the office by March 3, Reuters reported, citing an internal memo.
Why It Matters: Billionaire Elon Musk, who is currently heading Trump&#8217;s Department of Government Efficiency, has previously said that voluntary terminations owing to return-to-office mandates would be &#8220;welcome.&#8221;
&#8220;Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome: If federal employees don't want to show up, American taxpayers shouldn't pay them for the Covid-era privilege of staying home,&#8221; Musk wrote in an op-ed in the Wall Street Journal he co-authored with Vivek Ramaswamy and published in November.
The quitting of workers over the return to office mandate, however, could impact the agency and the chairman&#8217;s targets of <a href="https://www.benzinga.com/25/01/43063862/whats-going-on-with-pepsico-stock-today">pursuing litigation</a> against several including Meta Platforms and Amazon.com.
Ferguson pledged to "end Big Tech's vendetta against competition and free speech" after Trump named him as his choice for <a href="https://www.benzinga.com/markets/24/12/42428224/bitcoin-ethereum-dogecoin-mirror-stock-declines-ahead-of-crucial-inflation-data-release-top-analyst-says-buy-the-dip-predicts-275k-btc-target">FTC Chair </a>in December. 
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Photo courtesy: Shutterstock

Politics

FTC Chair Wants Workers Back At Office Full-Time By March, Says COVID Pandemic Is Long Over

Michigan&#8217;s electric vehicle industry is maintaining an optimistic outlook despite recent policy changes announced by President&nbsp;Donald Trump.
The executive order signed by Trump <a href="https://www.benzinga.com/tech/25/01/43090016/which-evs-might-lose-7500-ev-tax-credit-under-trump-administration">aims to eliminate</a> the EV &#8220;mandate&#8221; which could impact President&nbsp;Joe Biden&#8216;s&nbsp;target for 50% of new&nbsp;U.S. vehicle sales to be electric by 2030.
What Happened: Michigan stands as a significant player in the EV sector, with over $27 billion invested in EV projects, surpassing Georgia&#8217;s $26.6 billion. The state is home to several supply companies and automakers, including&nbsp;General Motors Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), which operates Factory ZERO in Detroit.
Despite the policy shifts, industry figures like auto dealer Eric Frehsée and Ray Smith, who&nbsp;runs an EV training program, stress the importance of continued progress in the EV sector, according <a href="https://apnews.com/article/trump-electric-vehicle-policy-auto-industry-investment-michigan-detroit-d554fec7aa9519c55aa723583051091e">to</a> a report by the Associated Press.
Frehsée has invested in EV infrastructure at his dealership, while Smith focuses on training future technicians.
"I think that the investments aren't ill-spent. I think that it's still the direction that we're heading," said Frehsée, according to the report.
Some automakers, such as&nbsp;Stellantis N.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), are adjusting to the policy changes, while others, like&nbsp;Ford Motor Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), have not yet commented. The EV market faces challenges, including the repeal of a $7,500 tax&nbsp;credit and paused funding for EV charging stations.
Why It Matters: The repeal of the $7,500 EV tax credit could significantly <a href="https://www.benzinga.com/tech/25/01/43090016/which-evs-might-lose-7500-ev-tax-credit-under-trump-administration">impact the affordability of EVs</a> for consumers. This credit currently benefits several models from&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;and Ford.
The removal of this credit could lead to a decrease in sales, as seen in other regions where similar incentives were canceled.
Furthermore,&nbsp;Rivian Automotive Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO RJ Scaringe <a href="https://www.benzinga.com/25/01/43214741/rivian-ceo-warns-legacy-automakers-against-underinvesting-in-evs-in-light-of-policy-shift-big-miscalculation-for-">cautioned legacy automakers</a> against underinvesting in EVs due to policy changes.
He believes that while these shifts may present short-term challenges, they should not deter long-term investments in the EV sector.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Government

RIVN

STLA

TSLA

Michigan's Auto Industry Remains Optimistic Despite Trump Revoking Biden's EV Mandate: 'The Investments Aren't Ill Spent'

Deepwater Asset Management&#8217;s Gene Munster says Meta Platform Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43196266/whats-going-on-with-meta-shares-friday-2">plans to invest up to $65 billion</a> this year to expand its AI infrastructure will benefit Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other hardware players.
What Happened: Meta CEO Mark Zuckerberg on Friday outlined the company&#8217;s capital spending plans for 2025 and its focus on artificial intelligence (AI).
Zuckerberg expects Meta to allocate between $60 billion and $65 billion for capital spending, primarily aimed at expanding the company's AI teams and building a new data center. he described the new data center as being &#8220;so large that it would cover a significant part of Manhattan.&#8221; The tech mogul further noted that Meta aims to bring a gigawatt of computing power online by 2025 and is projected to finish the year with over 1.3 million graphics processing units.
Weighing in on the announcement, Munster said Meta&#8217;s commitment &#8220;exceeds Street estimates of $51B.&#8221;
"In 2025, I expect Meta AI will be the leading assistant serving more than 1 billion people, Llama 4 will become the leading state of the art model, and we'll build an AI engineer that will start contributing increasing amounts of code to our R&amp;D efforts," Zuckerberg said.
See Also: <a href="https://www.benzinga.com/news/25/01/43200809/openais-sam-altman-flip-flops-on-trump-after-500-billion-stargate-ai-project-says-i-wish-i-had-done">OpenAI&#8217;s Sam Altman Flip Flops On Trump After $500 Billion Stargate AI Project, Says &#8216;I Wish I Had Done More Of My Own Thinking&#8217;</a>
According to Munster, the increased investment in AI infrastructure will particularly benefit Nvidia and other hardware players in the short term. In the long term, the higher capital expenditure (Capex) is expected to accelerate the AI flywheel, leading to more innovation, lower usage costs, an increase in customers, and consequently, more investment.
He also issued a reminder, stating, &#8220;I believe the market is&nbsp;going higher and the run&nbsp;will end in a spectacular&nbsp;bubble burst.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The latest datapoint that the AI trade remains intact. Zuckerberg&#39;s comment that <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> will spend $60–$65B in Capex for 2025 exceeds Street estimates of $51B. In the near term, increased investment in AI infrastructure benefits <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> and other hardware players. Long term,…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1882825296929264001?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Zuckerberg&#8217;s announcement comes on the heels of Meta&#8217;s recent AI advancements. In December, Meta introduced the Llama 3.3 70B, a new<a href="https://www.benzinga.com/24/12/42376972/metas-llama-33-70b-the-new-ai-model-that-outperforms-google-openai-and-amazon-with-unmatched-efficiency"> AI model that outperforms competitors </a>like&nbsp;Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google,&nbsp;OpenAI, and&nbsp;Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). This model offers the performance of Meta's largest Llama model, Llama 3.1 405B, but at a reduced cost. 
Last year in April, Meta announced its plan to purchase <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber">350,000 Nvidia H100 GPUs by 2024</a> to fuel its AI initiatives. Zuckerberg then said the 350,000 Nvidia H100 GPUs were initially intended to enhance Instagram Reels, not to position Meta as a leader in AI technology.
Meanwhile, President Donald Trump criticized the European Union (EU) for focusing on U.S. tech giants like Meta, Apple, and Google. He accused EU regulators of unfairly targeting these companies, calling their actions &#8220;a form of taxation.&#8221;
Price Action: Meta Platform&#8217;s stock closed at $647.49 on Friday, down 0.20% for the day, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

GOOG

GOOGL

NVDA

Mark Zuckerberg's $65 Billion AI Bet Benefits Nvidia And Other Players, Says Top Analyst, But Warns Market Bull Run Will 'End In A Spectacular Bubble Burst'

Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO RJ Scaringe reportedly said on Thursday that he expects policy shifts under the Trump administration to create &#8220;small speed bumps&#8221; for all EV makers in the near term but warned legacy automakers to not underinvest in electric vehicles. 
What Happened: In an <a href="https://insideevs.com/news/748518/rivian-ceo-rj-scaringe-ira/">interview</a> with InsideEVs, Scaringe said that he is building a business for the next few decades and that unfavorable EV policy will only make it a &#8220;a little more challenging&#8221; for the next couple of years.
Negative changes to EV policy will affect all EV makers in the near time and cause small speed bumps he said. While rival players underinvesting in EVs in the short term might be good for Rivian from a competition standpoint, it would be bad for the overall shift to EVs in the U.S. in the long term, Scaringe said.
"If you&#8217;re optimizing purely for profitability the next two years and you're a traditional legacy manufacturer, you could very easily make the spreadsheet case to say, ‘let&#8217;s double down on combustion,' or ‘let&#8217;s double down on hybrids,' which I think is a big miscalculation for the long term," Scaringe said in the interview. 
"I say this all the time to friends of mine who run big car companies: ‘Don't stop investing. You're going find yourself in the 2030s, upside down.&#8217; Rivian, Tesla, the Chinese—we have a full-throttle focus on EVs. And if you're doing that as your 10% job as an [automaker], you're going to be in rough shape in 10 years."
Why It Matters: Trump on Monday revoked a 2021 executive order signed by former President Joe Biden that sought to ensure that 50% of new vehicles sold in the U.S. by 2030 are electric. The new President also said that his administration would consider <a href="https://www.benzinga.com/tech/25/01/43090016/which-evs-might-lose-7500-ev-tax-credit-under-trump-administration" target="_blank" rel="noreferrer noopener">ending the $7500 federal tax credit available on select EV purchases</a>.
However, neither of Rivian&#8217;s present consumer vehicles is eligible for the tax credit given their high price point. However, the company is looking to expand its total addressable market with the R2 SUV expected to be priced around $45,000, in the same price range as Tesla's best-selling Model Y SUV. R2 is expected to enter production in early 2026.
The company is also planning to start deliveries of its <a href="https://www.benzinga.com/news/24/03/37552684/rivian-almost-catches-up-to-teslas-ev-lineup-with-new-r2-r3-but-theres-no-cybertruck-fighter-yet" target="_blank" rel="noreferrer noopener">R3 crossover after the R2.</a> The crossover is expected to be priced lower than the R2 SUV but it is unclear whether the R3's price will undercut the Tesla Model 3 or remain within the same range.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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</ul>

Rivian CEO Warns Legacy Automakers Against Underinvesting In EVs In Light Of Trump's Policy Shift: 'Big Miscalculation For Long Term'

Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) has decided to discontinue its <a href="https://www.benzinga.com/news/24/01/36503917/mark-cuban-and-elon-musk-lock-horns-over-diversity-and-inclusion-the-loss-of-dei-phobic-companies-is">diversity, equity, and inclusion (DEI) </a>program, becoming the latest in a series of U.S. companies to do so.
What Happened: Target, headquartered in Minneapolis, announced on Friday that it would be ending its DEI program, a move that has been criticized by some for potentially alienating its diverse customer base.
The company&#8217;s decision comes in the wake of similar moves by other major corporations, including&nbsp;Walmart Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>),&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) as the Trump administration takes aim at DEI initiatives.
Earlier this week, President Trump directed federal agencies to eliminate DEI programs and called on private companies to put an end to what he described as &#8220;illegal DEI discrimination and preferences.&#8221;
See Also: <a href="https://www.benzinga.com/25/01/43186741/openai-debuts-operator-ai-agent-that-performs-web-tasks-but-early-error-has-sam-altman-scrambling-for-a-quick-fix">OpenAI Debuts &#8216;Operator&#8217; AI Agent That Performs Web Tasks, But Early Error Has Sam Altman Scrambling For A Quick Fix</a>
Target&#8217;s Diversity, Equity, and Inclusion (DEI) program, originally planned to extend through 2025, included the Racial Equity Action and Change (REACH) initiative. Under this initiative, the company pledged to invest over $2 billion in Black-owned businesses. The program also sought to introduce more than 500 Black-owned brands to its offerings and enhance the visibility of diverse-owned brands through funding provided by its in-house media company, Roundel.
Target's decision has faced backlash, with critics highlighting that its longstanding reputation for inclusivity has been instrumental in drawing a younger, more diverse customer base. &#8220;For Target, with an inclusive audience, this is their version of brand suicide,&#8221; Eric Schiffer of Reputation Management Consultants <a href="https://www.reuters.com/business/retail-consumer/target-ends-its-3-year-diversity-equity-inclusion-initiatives-2025-01-24/">told</a> Reuters.
Why It Matters: The decision by Target to end its DEI program is part of a larger trend among U.S. corporations. Earlier, <a href="https://www.benzinga.com/markets/equities/25/01/42835400/mcdonalds-scales-back-diversity-initiatives-amid-conservative-pressure-cites-shifting-legal-landscape">McDonald&#8217;s also announced</a> that it would be rolling back several diversity initiatives at its corporate level, citing a &#8220;shifting legal landscape&#8221; and growing pressure from conservative activists.
Meanwhile, Meta CEO Mark Zuckerberg <a href="https://www.benzinga.com/25/01/42931941/mark-zuckerberg-critiques-culturally-neutered-companies-advocates-for-masculine-energy-as-meta-cuts-dei-programs-post-joe-rogan-appearance">expressed concerns</a> about companies distancing themselves from &#8220;masculine energy&#8221; during a podcast with Joe Rogan. Zuckerberg&#8217;s comments came after Meta announced its decision to cut its DEI programs.
Meanwhile, Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) is standing its ground. In a nearly unanimous vote, shareholders reaffirmed their support for the company&#8217;s existing diversity, equity, and inclusion (DEI) initiatives, <a href="https://www.forbes.com/sites/pamdanziger/2025/01/24/costco-shareholders-overwhelmingly-support-companys-dei-policies-as-other-major-retailers-retreat/">Forbes</a> reported. This came despite a proxy proposal from the National Center for Public Policy Research, which called for an audit to assess Costco&#8217;s &#8220;litigation, reputational, and financial risks.&#8221;
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

COST

Target Ends DEI Program Following Trump's Call To Eliminate 'Illegal Preferences': Expert Calls It 'Brand Suicide' For Retail Giant With Diverse Customer Base

Former Fox News anchor Pete Hegseth was <a href="https://www.benzinga.com/etfs/sector-etfs/25/01/42956943/trump-cabinet-confirmation-hearings-begin-tuesday-pete-hegseth-doug-collins-up-first">confirmed as</a> secretary of the Department of Defense on Friday after Vice President JD Vance broke the tie in the Senate with his vote.
Independents, democrats, as well as Republicans including Mitch McConnell of Kentucky, Lisa Murkowski of Alaska, and Susan Collins of Maine, opposed Hegseth&#8217;s nomination, creating a tie and leaving it to Vance to make the tie-breaking vote, The New York Times <a href="https://www.nytimes.com/interactive/2025/01/24/us/politics/hegseth-senate-confirmation-vote.html">reported</a>. The final vote stood at 51 to 50.
This is the second time in history that a vice president has broken a tie for a <a href="https://www.benzinga.com/news/24/11/41952962/trumps-surprise-defense-secretary-pick-pete-hegseth-jolts-wall-street">Cabinet nominee</a>, the newspaper noted while adding that the last time it happened was in 2017 during Betsy DeVos&#8217; confirmation to lead the Education Department. The tie was broken by former Vice President Mike Pence then. 
Hegseth has been accused of sexual assault, alcohol abuse, and financial mismanagement of organizations he led previously. However, he has denied the allegations.
Hegseth, an Iraq and Afghanistan War veteran, <a href="https://www.benzinga.com/news/24/11/41952962/trumps-surprise-defense-secretary-pick-pete-hegseth-jolts-wall-street" target="_blank" rel="noreferrer noopener">has not</a> held a government position previously.
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Photo courtesy: Shutterstock

Pete Hegseth Confirmed As Defense Secretary After Historic Senate Tie-Break By VP Vance

Tesla Inc. CEO Elon Musk earlier this week leveled allegations against OpenAI CEO Sam Altman, accusing him of misleading statements about a $10 billion equity agreement.
What Happened:  Musk on Thursday took to his social media platform, X to express his disappointment with Altman. The tech mogul, sharing a Reuters report from September 2024, said, &#8220;Altman literally testified to Congress that he wouldn&#8217;t get OpenAI compensation, and now he wants $10 billion! What a liar.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Altman literally testified to Congress that he wouldn't get OpenAI compensation and now he wants $10 billion! What a liar. <a href="https://t.co/YpHvcm0WZa">https://t.co/YpHvcm0WZa</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1882259573765243258?ref_src=twsrc%5Etfw">January 23, 2025</a></blockquote>
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OpenAI, initially a non-profit organization, is now transitioning to a for-profit model. This shift will see Altman receiving equity in the company, potentially&nbsp;valued at up to $150&nbsp;billion. Musk&#8217;s criticism stems from Altman&#8217;s previous assurance that he would not&nbsp;seek financial gain from OpenAI.
OpenAI did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment.
See Also: <a href="https://www.benzinga.com/media/25/01/43183396/epic-games-ceo-tim-sweeney-prepared-to-spend-billions-for-decades-fighting-apple-google-monopolies-we-think-our-best-days-are-ahead">Epic Games CEO Tim Sweeney Prepared To Spend Billions For Decades Fighting Apple, Google Monopolies: &#8216;We Think Our Best Days Are Ahead&#8217;</a>
For unversed, during his testimony before the U.S. Senate Judiciary Subcommittee on Privacy, Technology, and the Law in 2023, the CEO said that he receives minimal compensation from OpenAI, sufficient only to qualify for health insurance, and holds no equity in the company. He emphasized that his motivation for leading OpenAI is driven by passion rather than financial gain.&nbsp;
Why It Matters: This is not the first time Musk has criticized Altman over OpenAI&#8217;s shift to a for-profit model. In December 2024, Musk labeled the transformation a &#8220;total scam&#8221; and accused the organization of deviating from its original mission.
In a&nbsp;<a href="https://www.benzinga.com/24/12/42609769/elon-musk-is-a-legendary-entrepreneur-but-also-a-bully-says-openai-ceo-sam-altman-now-its-me-its-been-bezos-gates-zuckerberg-lots-of-other-people">December 2024 interview</a>, Altman referred to Musk as a &#8220;legendary entrepreneur&#8221; but also a &#8220;bully.&#8221; He noted that Musk would likely be content with OpenAI&#8217;s progress if he was at the helm. However, despite their strained relationship, Altman&nbsp;<a href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford">acknowledged Musk&#8217;s crucial role</a>&nbsp;in OpenAI&#8217;s early funding. 
Musk co-founded OpenAI in 2015 and left the AI startup in 2018. Since then, he has criticized and sued OpenAI, accusing it of deception and using him for competitive advantage.
Altman&#8217;s stance on political figures has also seen a shift. Earlier this week, Altman publicly expressed his support for President Donald Trump, <a href="https://www.benzinga.com/25/01/43153571/openais-sam-altman-flip-flops-on-trump-as-500-billion-stargate-ai-project-is-announced-years-after-praising-reid-hoffman-for-stopping-his-re-election">a shift in his perspective</a> that he attributed to observing the president more closely. Earlier this week, Project Stargate was unveiled as a groundbreaking <a href="https://www.benzinga.com/25/01/43111153/nvidia-and-ai-stock-rises-as-trump-announces-500-billion-stargate-ai-infrastructure-venture">$500 billion AI infrastructure initiative</a> backed by OpenAI, SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>), and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>). The project, unveiled by Trump, is designed to position the United States at the forefront of global AI innovation and leadership.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

ORCL

SFTBY

Elon Musk Accuses OpenAI CEO Sam Altman Of Lying Over $10B Equity: 'What A Liar'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) executive Siddhant Awasthi said on Thursday that the company is now looking to launch accessories for the Cybertruck including an off-road armor and rocker by the end of March, later than the previously offered timeline.
What Happened: Awasthi also said that the company is now finishing delivering wheel covers to Cybertruck customers. 
&#8220;We have secured supply but distribution is the bottleneck now (32% complete),&#8221; Awasthi said in his post on X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#8211; Cybertruck Off road armor and Rocker accessory launch running with delays but likely End of March &#8211; Finish delivering Wheel covers to customers. We have secured supply but distribution is the bottleneck now (32% complete) &#8211; Air suspension controls and features improvements
&mdash; Siddhant Awasthi (@siddawa) <a href="https://twitter.com/siddawa/status/1882621659414491468?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
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Cybertruck lead engineer Wes Morrill said in September that battery armor and rock sliders will be available as a retrofit option on the Cybertruck <a href="https://www.benzinga.com/news/24/09/40788042/tesla-engineer-pins-video-of-cybertruck-sustaining-damage-on-driving-through-fence-to-removal-of-sto">by the end of 2024</a> to ensure added protection to the vehicle when off-roading. Morrill was responding to a video by a YouTuber called Super Ron who ran a Cybertruck through a white picket fence in one of his videos posted in June. The vehicle sustained significant damage, raising questions about the truck's durability and off-roading protection.
However, Morrill took to X to note that the truck used in the video had the front bumper and aluminum skid plate for underbody protection removed.
"…if you plan to drive into fences probably best not to remove the front bumper and aluminum skid plate that come stock," Morrill wrote.&nbsp;
Why It Matters: However, 2024 ended but the battery armor that Morrill promised for off-roading is yet to be launched. 
Tesla started delivering the Cybertruck in late 2023. According to recent data from automotive research firm Kelley Blue Book, Tesla delivered 38,965 Cybertrucks in the U.S. throughout the year, even when its overall vehicle deliveries dropped by 5.6% year-on-year.
The Cybertruck was the <a href="https://www.benzinga.com/25/01/42995131/10-best-selling-evs-in-us-in-2024">fifth best-selling EV in the U.S. last year </a>after the Tesla Model Y, Model 3, Ford Mustang Mach-E, and Hyundai Ioniq 5, despite the vehicle&#8217;s high starting price.
The vehicle starts at $79,990 in the U.S., with the more premium Cyberbeast variant priced at a whopping $99,990.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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</ul>
Photo courtesy: Tesla

Cybertruck Off Road Armor Launch Delayed To March-End, Says Tesla Exec

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will realistically deliver 1.8 million vehicles this year, more or less in line with its deliveries in 2024, according to researcher Troy Teslike.
What Happened: Teslike said in a post on social media platform X that the company would realistically deliver 1.8 million vehicles in 2025. While 1.9 million vehicle deliveries will be &#8220;very optimistic,&#8221; 1.7 million would be &#8220;below expectations,&#8221; the analyst said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here&#39;s what I think about Tesla&#39;s vehicle deliveries this year: • 1.9M (Very Optimistic) • 1.8M (Realistic) • 1.7M (Below Expectations)
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1882773830231605309?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
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Teslike&#8217;s realistic numbers mark meagre to no growth from 2024 when the company delivered 1,789,226 vehicles. In a post reply, he dismissed the impact of the company launching a new and refreshed version of its best-selling Model Y SUV on deliveries noting that the launch of a refreshed version of the Model 3 in China in late 2023 and in the U.S. in early 2024 did not aid annual deliveries. 
Teslike&#8217;s estimates also consider Tesla&#8217;s promise for new vehicles, including more affordable ones in the first half of 2025. 
&#8220;When Elon says the first half of 2025, he means the last day of June. I already included the lower-cost model in Q3 and Q4,&#8221; Teslike said while adding that the vehicle will likely be priced below $30,000 after counting in a federal EV tax credit of $7500, implying the vehicle will cost nearly $37,500 without the credit. 
Why It Matters: Tesla launched a new and refreshed version of the Model Y first in China earlier this month and in the U.S. earlier this week. Deliveries in both geographies are slated to start in March.
In the U.S., the long-range all-wheel drive variant of the <a href="https://www.benzinga.com/25/01/43183608/tesla-launches-refreshed-model-y-variant-in-us-canada-after-china">refreshed Model Y starts at $59,990</a>, or about 25% more expensive than its predecessor. 
The company has warned of price hikes on its entire car lineup in the neighboring market of Canada starting Feb. 1, with Model 3 prices expected to rise by <a href="https://www.benzinga.com/25/01/43151994/tesla-to-hike-car-prices-in-canada-by-as-much-as-c9000">as much as C$9000.</a>
In China, Tesla&#8217;s second biggest market after the U.S., the company hiked prices of the Model 3 by <a href="https://www.benzinga.com/tech/25/01/42907586/tesla-model-3-prices-rise-in-china-as-refreshed-model-y-debuts">3,600 yuan earlier this month</a> as it faces severe competition from Chinese EV makers. 
In Tesla&#8217;s last quarterly report, the company said that its plans for new vehicles, including more affordable ones, remain &#8220;on track&#8221; for the start of production in the first half. The company said these vehicles will be produced on the same manufacturing lines as its current lineup. 
Tesla reported global&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">deliveries of 1.79 million</a>&nbsp;vehicles in 2024, down from full-year deliveries of 1.81 million in 2023, marking the first decline in over a decade.
Tesla CEO Elon Musk, however, said in October that he expects vehicle sales to grow by <a href="https://www.benzinga.com/tech/25/01/42802658/tesla-ceo-elon-musks-20-to-30-sales-growth-target-for-2025-is-not-realistic-says-analyst">20%-30% in 2025.</a>
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Photo courtesy: Shutterstock

Researcher Expects Tesla's Vehicle Deliveries To Remain Flat In 2025, Contrary To Musk's 20-30% Growth Prediction

In 1981, Steve Jobs expressed skepticism about the home market for personal computers. Just three years later, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/23/01/30563469/steve-jobs-unveiled-1st-apple-mac-nearly-four-decades-ago-would-you-still-find-it-cool" target="_blank" rel="noopener">unveiled the</a> Macintosh, a device that not only changed computing but also set the stage for the tech giant's dominance in consumer tech.
What Happened: In a 1981 interview, Jobs shared his view on why Apple deliberately avoided branding their early devices as &#8220;home computers.&#8221;
Instead, he underscored the broader utility of personal computers in fields like education, science, and business, asserting that the &#8220;home&#8221; was not yet a viable market.
See Also: <a href="https://www.benzinga.com/news/24/10/41196932/legendary-apple-co-founder-steve-jobs-once-said-being-the-richest-man-in-the-cemetery-doesnt-matter">Legendary Apple Co-Founder Steve Jobs Once Said, &#8216;Being The Richest Man In The Cemetery Doesn&#8217;t Matter To Me:&#8217; Maybe That&#8217;s Why His Impact Transcends Financial Success For iPhone-Maker And Beyond</a>
He said, "We view the home not really as a market yet&#8230; There&#8217;s not enough specific applications to cost-justify spending a thousand to three thousand dollars for a personal computer to be used in the home."
At the time, he believed the home was merely a location for computing, not a dedicated market.
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The Launch Of The Macintosh
On Jan. 24, 1984, Apple introduced the first-ever Macintosh for $2,495. The brainchild of Jef Raskin, who began the project in the late 1970s, the Macintosh was designed to bring powerful computing to the masses.
The original Macintosh featured 64KB of ROM, 128KB of RAM, and integrated Lisa Technology, all packaged into a sleek, compact device weighing 16.5 pounds.
Its design philosophy emphasized simplicity and user-friendliness, making it a stark contrast to the more complex systems of the time.
Apple's marketing campaign for the Macintosh centered around two application programs: word processing and graphics. These were offered free to users for the first 100 days after purchase. The company also highlighted the Macintosh's innovative "mouse" technology, describing it as "a small pointing device — to select among functions listed in menus and represented by pictorial symbols on the screen."
Although the $2,495 price tag was steep for many customers, the Macintosh succeeded. By May 1984, Apple had reportedly sold 70,000 units.
While the original Macintosh was discontinued in less than a year, it marked the beginning of Apple's journey toward building an enduring ecosystem of personal computing devices. The current lineup — including the MacBook Air, MacBook Pro, iMac, iMac Pro, Mac Mini, and Mac Pro — originates from this revolutionary device.
In 2024, Apple reported fiscal <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in" target="_blank" rel="noopener">fourth-quarter revenue</a> of $94.9 billion, surpassing analyst expectations of $94.56 billion. The company&#8217;s Mac revenue was $7.74 billion, slightly increasing from $7.61 billion in the same quarter the previous year.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Apple Co-Founder Steve Jobs In 1981 Said Homes Weren't Ready For Personal Computers — Three Years Later, Cupertino Launched The Macintosh And Made History

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

China Vanke Co

Over the past 12 months, about two-thirds of Chinese property developers have defaulted on their offshore debt. The most recent debt default was by China SCE Group Holdings Ltd. which had $1.8 billion in bonds suspended last week after saying that it could not meet principal and interest repayments.&nbsp;Country Garden Holdings Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CTRYF#OTC">CTRYF</a>) said Tuesday that it would be seeking to renegotiate debt terms with its offshore bondholders.

As of today, there are now just 14 major developers out of 54 in China left who have yet to default on their offshore bonds. Those developers to watch out for are:

<ul>
	<li>Agile Group Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AGPPY#OTC">AGPPY</a>)</li>
	<li>Shui On Land Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLLY#OTC">SOLLY</a>)</li>
	<li>China Jinmao Holdings Group Ltd.</li>
	<li>China Vanke Co. Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CHVKF#OTC">CHVKF</a>)</li>
	<li>Seazen Group Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SZENF#OTC">SZENF</a>)</li>
	<li>Sino-Ocean Group Holding Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SIOLY#OTC">SIOLY</a>)</li>
	<li>Greentown China Holdings Ltd.</li>
	<li>RK Properties International Ltd.</li>
	<li>Longfor Group Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LGFRY#OTC">LGFRY</a>)</li>
	<li>Dalian Wanda Group Co.</li>
	<li>China South City Holdings Ltd.</li>
	<li>Yanlord Land Group Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/YLDGY#OTC">YLDGY</a>)</li>
	<li>Hopson Development Holdings Ltd.</li>
	<li>Gemdale Corp.</li>
</ul>

Confidence among investors as to the creditworthiness of these developers appears to be waning with the increased number of default cases.

Among the 14 non-defaulting companies, 10 of them are listed on the Hong Kong Stock Exchange. In a market-cap-weighted index of the listed&nbsp;companies, share prices&nbsp;fell Tuesday by 0.13% vs a rise of 0.85% for the Hang Seng Index.

Why It Matters:&nbsp;Country Garden&#39;s shares plunged 11% in Hong Kong&nbsp;Tuesday after it missed a debt repayment and announced&nbsp;that it was appointing advisors and lawyers to handle discussions with its offshore debt holders.

&ldquo;We wish to pursue a holistic solution to fully address the Company&rsquo;s current offshore debt risk, to enable the Company to restore its business operations and achieve long-term healthy development and, to the greatest extent, protect the rights and interests of all stakeholders including customers, employees and creditors,&rdquo; the company <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2023/1010/2023101000054.pdf" style="color:#0563c1">said</a> in an exchange filing.

The latest admission of a credit squeeze by China&rsquo;s largest property firm by number of developments comes on the back of a wave of defaults this year by other developers on their bonds.

Country Garden had delivered 1.12 million housing units as of September 2023, the company said. Pre-sale funds for housing units that are currently in development are stored in escrow accounts, it added.

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Tuesday, October 10, 2023

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