Green Mining Innovation Stock (OTC: GDMIF)

Green Mining Innovation Stock (OTC:GDMIF), Trade Ideas

Green Mining Innovation Inc is a mining exploration company dedicated to mineral exploration in Canada with a genuine concern for environmental protection. It focuses mainly on developing deposits which contain gold and technology metals in mining jurisdictions in Canada. The company holds an interest in five exploration properties which include Anctil, Nemenjiche, Fortune and Panache North properties located in the province of Quebec, and the Prince property located in the province of Newfoundland.

GREEN MNG INNOVATION INC by GREEN MNG INNOVATION INC.

Green Mining Innovation Inc

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO <a href="https://www.benzinga.com/topic/jensen-huang">Jensen Huang</a> hand-delivered the first DGX H200 GPU to OpenAI's Sam Altman and Greg Brockman, continuing the tradition of the close collaboration between the two companies.
What Happened: Huang donated the first DGX H200 GPU out in the world to OpenAI, after <a href="https://www.benzinga.com/news/24/03/37809836/nvidia-reveals-blackwell-gpu-highlights-partnerships-with-top-companies-at-gtc-the-whole-industry-is">announcing it in March</a> alongside the GB200 AI super chip.
Brockman, who is currently the president of OpenAI, posted a photo with Huang, Altman, and the DGX H200 GPU.
He noted that this is the first H200 GPU in the world. Combined with the fact that Huang hand-delivered it to OpenAI, this is a symbolic gesture.
Brockman noted that Huang's message while donating the H200 GPU to OpenAI was "to advance AI, computing, and humanity."
<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">First <a href="https://twitter.com/nvidia?ref_src=twsrc%5Etfw">@NVIDIA</a> DGX H200 in the world, hand-delivered to OpenAI and dedicated by Jensen &quot;to advance AI, computing, and humanity&quot;: <a href="https://t.co/rEJu7OTNGT">pic.twitter.com/rEJu7OTNGT</a>
&mdash; Greg Brockman (@gdb) <a href="https://twitter.com/gdb/status/1783234941842518414?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
OpenAI is a research organization that focuses on artificial intelligence. The company has been at the forefront of AI research and has been a key player in the development of AI technologies.
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.
Its ChatGPT launch in late 2022 kicked off a storm in the AI chatbot arena, leading to several companies unveiling their large language models and chatbots.
See Also: <a href="https://www.benzinga.com/news/24/04/38378083/whats-cooking-nvidias-jensen-huang-meets-jeff-bezos-backed-perplexity-ai-ceo-search-like-a-billionai">What&#8217;s Cooking? Nvidia&#8217;s Jensen Huang Meets Jeff Bezos-Backed Perplexity AI CEO: &#8216;Search Like A Billionaire&#8217;</a>
Why It Matters: Earlier in March, Nvidia unveiled the DGX H200 GPU alongside the GB200 AI super chip.
The H200 GPU is a successor to the widely popular H100 GPU – it offers 1.8 times the memory and 1.4 times the bandwidth that H100 did. This makes information processing much faster since it can store more data, reducing the dependency on external storage which is slower.
On the other hand, the <a href="https://www.benzinga.com/news/24/03/37848556/nvidias-new-superchip-delivers-8-470-times-the-computing-performance-of-supercomputer-that-jensen-hu">GB200 AI superchip is 8,470 times faster</a> than the DGX-1 supercomputer that Huang donated to OpenAI back in 2016. Huang calls it the "miracle" chip.
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/general/entertainment/24/04/38345794/mark-zuckerberg-spills-the-beans-on-his-bromance-with-nvidias-jensen-huang-hell-yeah-lets-m" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Spills The Beans On His Bromance With Nvidia's Jensen Huang: ‘Hell Yeah, Let's Make Cheesesteaks'</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

News

Tech

NVDA

Jensen Huang Hand-Delivers Nvidia's First DGX H200 GPU To OpenAI's Sam Altman To 'Advance AI, Computing, And Humanity'

Donald Trump <a href="https://www.benzinga.com/general/politics/24/04/38366379/trump-committed-conspiracy-to-undermine-the-integrity-of-a-presidential-election-prosecution-all">continued to have a bad run this week,</a> and his niece Mary Trump, a clinical psychologist said, &#8220;the wheels of justice continue to grind.&#8221;
What Happened: Mary Trump commended the prosecutors in the New York hush-money case for emphasizing her uncle&#8217;s &#8220;extrajudicial statements&#8221; and highlighting them as a &#8220;very real threat&#8221; to the proceedings&#8217; integrity. She opined that unless Acting New York Supreme Court Justice Juan Merchan makes the consequences sufficiently severe, Donald Trump will have no reason to stop flouting the judge&#8217;s authority and his gag order.
The prosecution&#8217;s request, seeking the removal of his offending Truth Social posts, could be infuriating for Donald Trump, as he could see it as a loss of control beyond the courtroom, the psychologist said. Also, the prosecution&#8217;s request for a $1,000 fine for each violation and warning of imprisonment is beyond the ex-president&#8217;s comprehension, she said. 
&#8220;Being incarcerated for even a day would likely be beyond Donald's ability to manage,&#8221; she added.
Mary Trump also explored the logic of the prosecutors not seeking jail term for her uncle immediately. &#8220;It wouldn't be surprising if Donald saw a potential jail sentence as an opportunity rather than a punishment.&#8221; she said.
&#8220;In his eyes, it could be another chance to play the victim, to rally his supporters around a perceived injustice, and to raise funds for his cause. Prosecutors are depriving him of that narrative.&#8221;
The psychologist, however, said her uncle may see any confinement against his will as a &#8220;direct challenge to his sense of omnipotence and a serious blow to his extremely fragile ego.&#8221;
All said and done, Tuesday&#8217;s contempt hearing was another humiliation for Donald Trump, his niece said.
Mary Trump also said National Enquirer publisher, David Pecker provided &#8220;slam dunk testimony&#8221; as his statements went on to solidify the case that Donald Trump&#8217;s purpose was election interference.
&#8220;Donald is facing real-time consequences for his transgressions,&#8221; Mary Trump said, as she noted that in just 198 days he would not only face a jury but also has to answer the American public.
See Also: <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in">Liz Cheney Says Trump &#8216;Doing Everything Possible&#8217; To Postpone Jan. 6 Case Beyond Election: &#8216;Deep Flaws In Character&#8230;Make Him Unfit To Serve As President&#8217;</a>
Why It&#8217;s Important: The hush-money case is one of the four criminal cases Donald Trump is facing and this case assumes importance because it could be the only case for which verdict is pronounced ahead of the Nov. 5 election. 
Donald Trump, though not the official Republican nominee yet, has all but clinched the ticket, and will likely be set up for a rematch with President Joe Biden. Opinion polls have suggested that the <a href="https://www.benzinga.com/news/24/04/38401616/biden-vs-trump-one-candidate-outperforms-his-2020-numbers-as-the-other-loses-support-among-2-key-vot">2024 election could be one of the most closely contested races,</a> although a <a href="https://www.benzinga.com/news/24/04/38182671/biden-vs-trump-matchup-in-new-poll-shows-incumbents-lead-swelling-but-nearly-25-of-voters-dont-want">big chunk of voters wanted neither Trump nor Biden as their candidate.</a>
The hush-money case relates to falsifying records regarding payments made to adult movie star Stormy Daniels, who has alleged that Donald Trump had a sexual relationship with her ahead of the 2016 election. Prosecutors have argued that this was done with the motive of interfering with the election results.
The trial resumes in New York on Thursday when the U.S. Supreme Court is also set to deliberate on Donald Trump&#8217;s presidential immunity claims.
Photo via Wikimedia Commons
Read Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>

Politics

Media

Trump's Niece Says Ex-President Could See Potential Imprisonment As Opportunity: 'Donald Is Facing Real-Time Consequences For His Transgressions'

St. Joe (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOE#NYSE">JOE</a>) reported quarterly earnings of $0.24 per share. This is a 33.33 percent increase over earnings of $0.18 per share from the same period last year. The company reported $87.79 million in sales this quarter. This is a 20.26 percent increase over sales of $73.00 million the same period last year.

Earnings

St. Joe Q1 EPS $0.24 Up From $0.18 YoY, Sales $87.79M Up From $73.00M YoY

Stora Enso (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SEOAY#OTC">SEOAY</a>) reported quarterly earnings of $0.10 per share which beat the analyst consensus estimate of $0.06 by 63.33 percent. This is a 60.8 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $2.350 billion which beat the analyst consensus estimate of $2.244 billion by 4.71 percent. This is a 19.52 percent decrease over sales of $2.920 billion the same period last year.

Earnings Beats

SEOAY

Stora Enso Q1 2024 Adj EPS $0.10 Beats $0.06 Estimate, Sales $2.350B Beat $2.244B Estimate

Coca-Cola European Partners plc Ordinary Shares

CCEP

Coca-Cola Europacific Q1 Revenue €4.733B (+4.3% YoY), Adjusted Comparable Volume +2%; Reaffirms 2024 Guidance

Indivior (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDV#NASDAQ">INDV</a>) reported quarterly earnings of $0.37 per share which missed the analyst consensus estimate of $0.41 by 9.76 percent. This is a 7.5 percent decrease over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $284.000 million which missed the analyst consensus estimate of $299.750 million by 5.25 percent. This is a 12.25 percent increase over sales of $253.000 million the same period last year.

Earnings Misses

INDV

Indivior Q1 2024 Adj EPS $0.37 Misses $0.41 Estimate, Sales $284.000M Miss $299.750M Estimate

Guidance
The Company reiterates its Total Revenue and Core EPS guidance for FY 2024 at CER, based on the average foreign exchange rates through 2023.
<ul>
<li>Total Revenue is expected to increase by a low double-digit to low teens percentage</li>
<li>Core EPS is expected to increase by a low double-digit to low teens percentage</li>
<li>Collaboration Revenue is expected to increase substantially, driven by success-based milestones and certain anticipated transactions</li>
<li>Other operating income is expected to decrease substantially (FY 2023 included a $241m gain on the disposal of&nbsp;Pulmicort Flexhaler&nbsp;US rights, and a $712m one-time gain relating to updates to contractual arrangements for&nbsp;Beyfortus)</li>
<li>The Core Tax rate is expected to be between 18-22%</li>
</ul>

Guidance

AstraZeneca Reiterates Its 2024 Guidance: Expects Total Revenue And Core EPS To Increase By A Low Double-Digit To Low Teens Percentage At CER

AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) reported quarterly earnings of $1.03 per share which missed the analyst consensus estimate of $1.22 by 15.57 percent. This is a 7.29 percent increase over earnings of $0.96 per share from the same period last year. The company reported quarterly sales of $12.679 billion which beat the analyst consensus estimate of $11.833 billion by 7.15 percent. This is a 16.55 percent increase over sales of $10.879 billion the same period last year.

AstraZeneca Q1 2024 Adj EPADS $1.03 Misses $1.22 Estimate, Sales $12.679B Beat $11.833B Estimate

Macro Economic Events

Econ #s

Economics

Germany GfK Consumer Climate For May -24.2 Vs. -25.9 Est.; -27.3 (Revised) Prior

The U.S. Department of Agriculture&#8217;s Food Safety and Inspection Service (FSIS) issued a public health alert for ground beef products that may be contaminated with E. coli (Escherichia coli.)
The products, which were produced in March, were distributed to food service institutions and retailers across the country.
These products, which carry a packaging date of &#8220;032824&#8221; and a Use/Freeze by date of Apr. 22, were shipped to various food service institutions and retailers nationwide. The products also bear the establishment number &#8220;EST. 960A,&#8221; which can be found inside the USDA mark of inspection.
While the potential risk of illness is present, there have been no reports thus far. Consumers who have previously bought these products are advised not to consume or serve them.
However, the FSIS has advised anyone concerned about illness to contact their healthcare provider.
But what exactly is E. coli and how can you stay protected? Here's everything you need to know.
<h2 class="wp-block-heading">What Is E. coli?</h2>
E. coli are bacteria that are commonly found in the environment, foods, and the intestines of people and animals, as per the <a href="https://www.cdc.gov/ecoli/ecoli-prevention.html">Centers for Disease Control and Prevention</a>.
While most strains of E. coli are harmless, some can cause illnesses such as diarrhea, urinary tract infections, respiratory illnesses, and pneumonia.
This is caused by some strains of E. coli that make Shiga toxin. These bacteria are called "Shiga toxin-producing&nbsp;E. coli," or STEC for short.
<h2 class="wp-block-heading">5 Ways To Stay Protected From E. coli Infections</h2>
The types of E. coli that can cause illness are transmitted through contaminated water or food or contact with animals or people. The CDC notes that some E. coli infections can be severe or life-threatening.
Here are five ways you can stay protected from E. coli infections:
<h3 class="wp-block-heading">1. &nbsp;Check Your Risk Level</h3>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072809/E.coli-2-1024x576.jpg" alt="" class="wp-image-306285" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072809/E.coli-2-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072809/E.coli-2-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072809/E.coli-2-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072809/E.coli-2-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072809/E.coli-2.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Check your risk level for illness &#x7C; Image generated using Dall-E</figcaption></figure>
Check what is your personal risk level.
Individuals at increased risk of foodborne illness include pregnant women, newborns, children, elderly individuals, and individuals with compromised immune systems, such as those with cancer, diabetes, or HIV/AIDS.
<h3 class="wp-block-heading">2. Follow Four Steps To Food Safety</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072459/E.coli-1-1024x576.jpg" alt="" class="wp-image-306275" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072459/E.coli-1-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072459/E.coli-1-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072459/E.coli-1-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072459/E.coli-1-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072459/E.coli-1.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Ensure your food is safe &#x7C; Image generated using Dall-E</figcaption></figure>
Follow the four steps to food safety, every time – clean, separate, cook, and chill.
<ul>
<li>Make sure your hands, utensils, surfaces, and food items are clean before you cook them.</li>
<li>Keep different types of food and their utensils separate.</li>
<li>Make sure you cook food to the right temperature. Use a food thermometer to ensure food has reached the right internal temperature.</li>
<li>Make sure you refrigerate perishable food items within two hours.</li>
</ul>
<h3 class="wp-block-heading">3. Proper Hygiene Is A Must</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072911/E.coli-3-1024x576.jpg" alt="" class="wp-image-306289" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072911/E.coli-3-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072911/E.coli-3-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072911/E.coli-3-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072911/E.coli-3-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072911/E.coli-3.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Follow proper hygiene &#x7C; Image generated using Dall-E</figcaption></figure>
Always wash hands thoroughly with soap and water after using the restroom, changing diapers, handling animals, preparing or eating food, and before touching infants or toddlers, their mouths, or their pacifiers.
<h3 class="wp-block-heading">4. Cook Meats Thoroughly</h3>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072931/E.coli-4-1024x576.jpg" alt="" class="wp-image-306290" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072931/E.coli-4-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072931/E.coli-4-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072931/E.coli-4-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072931/E.coli-4-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072931/E.coli-4.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Cook meats thoroughly &#x7C; Image generated using Dall-E</figcaption></figure>
Ensure the safety of cooked meats by following recommended temperature guidelines.
Cook beef steaks and roasts to at least 145°F and let them rest for 3 minutes after cooking. Ground beef and pork should reach an internal temperature of 160°F.
Always use a food thermometer to confirm these temperatures as visual appearance alone cannot determine if meat is safely cooked.
<h3 class="wp-block-heading">5. Avoid These Things</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072955/E.coli-5-1024x576.jpg" alt="" class="wp-image-306291" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072955/E.coli-5-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072955/E.coli-5-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072955/E.coli-5-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072955/E.coli-5-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24072955/E.coli-5.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Avoid raw milk and swallowing water while swimming &#x7C; Image generated using Dall-E</figcaption></figure>
Avoid consuming raw milk, unpasteurized dairy products, and juices. Also, make sure you don't swallow water while swimming or playing in lakes, ponds, beaches, and streams.
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.
Image Via Shutterstock

Health Care

Restaurants

US Warns Of E. Coli Risk With Eating Ground Beef: How To Keep Yourself Amid USDA Warning

Business EPS guidance reiterated
Sanofi expects 2024 business EPS(1) to remain roughly stable excluding the impact of an expected effective tax rate increase to 21% and decrease low single-digit(2) at CER including the higher expected tax rate, barring unforeseen major adverse events. Applying average April 2024 exchange rates, the currency impact on 2024 business EPS is estimated between -5.5% to -6.5%.

Sanofi Reiterates 2024 Business EPS Guidance, Expects It To Remain Roughly Stable; Applying Average April 2024 Exchange Rates, The Currency Impact Is Estimated To Be Between -5.5% And -6.5%

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) reported quarterly earnings of $0.97 per share which beat the analyst consensus estimate of $0.94 by 2.77 percent. This is a 16.72 percent decrease over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $11.364 billion which beat the analyst consensus estimate of $11.044 billion by 2.90 percent. This is a 3.58 percent increase over sales of $10.971 billion the same period last year.

Sanofi Q1 2024 Adj EPS $0.97 Beats $0.94 Estimate, Sales $11.364B Beat $11.044B Estimate

<ul>
<li>We will now drive the Company based on a revised plan for FY24 revenues in the range of&nbsp;$14 billion&nbsp;to&nbsp;$15 billion. Within this plan, we expect a gross margin in the low 40&#39;s.&quot;</li>
<li>&quot;We plan to maintain our Net Capex1&nbsp;plan for FY24 at about&nbsp;$2.5 billion&nbsp;focusing on our strategic manufacturing initiatives.&quot;</li>
</ul>

STMicroelectronics Lowers Its 2024 Outlook: Now Expects Net Revenues Of $14B-$15B (Prior $15.9B-$16.9B) Vs. Consensus Of $16.12B; Sees Gross Margin In The Low 40's range

In a recent interview, billionaire investor Howard Marks cautioned against overconfidence in Artificial Intelligence (AI) stocks, stressing that the technology&#8217;s transformative potential does not make it immune to market crashes.
What Happened: Marks, the co-founder of Oaktree Capital Management, shared his thoughts on AI stocks with CNBC on Tuesday. He acknowledged the technology&#8217;s potential to revolutionize the world but warned that this alone does not guarantee the success of its underlying assets, <a href="https://www.businessinsider.in/investment/news/billionaire-investor-howard-marks-says-ais-impact-doesnt-make-it-immune-to-a-crash/articleshow/109570828.cms">reported</a> Business Insider.
&#8220;Every bubble starts from widespread conviction,&#8221; Marks said. &#8220;Everybody believes A, they bid the beneficiaries of A up to the moon. It turns out, it&#8217;s overdone.&#8221;
Marks drew parallels between the current AI investment trend and the dot-com bubble of the late &#8217;90s, where the internet&#8217;s emergence led to a surge in stock prices. However, many of these stocks ended up being worthless.
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
Despite recognizing AI&#8217;s potential, Marks emphasized the difficulty in determining the appropriate reflection of AI in investment portfolios. He also expressed skepticism towards macro predictions, warning against over-reliance on Wall Street forecasts.
Why It Matters: Marks&#8217; cautionary stance on AI stocks is in line with his previous skepticism towards market trends. Earlier this year, he <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36694229/forget-bitcoin-and-gold-says-investment-guru-howard-marks-high-yield-bonds-offer-be">expressed skepticism</a> about the intrinsic value of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and gold, suggesting high-yield bonds as a safer investment option.
Other market veterans have also sounded the alarm on the current market climate. In February, investing veteran Bill Smead warned that the AI stocks mania <a href="https://www.benzinga.com/markets/equities/24/02/37356846/ai-stocks-mania-appears-to-be-headed-to-a-bad-ending-says-investing-veteran-fear-stock-market-fa">could be headed to a bad ending</a>, cautioning against the allure of popular stocks and the AI boom.
These warnings come in the wake of the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po">AI-led tech stock bubble</a> that has seen a significant sell-off since Apr. 12, raising concerns about the sustainability of the current market trend.
Read Next: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Salaries While It Learns To Navigate Shipping Slump</a>
Image Via Shutterstock 
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Equities

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Markets

$BTC

Billionaire Investor Howard Marks Warns Against Overconfidence In AI Stocks: 'Every Bubble Starts From Widespread Conviction'

Business&nbsp;Outlook
ST&#39;s&nbsp;guidance, at the mid-point, for the 2024&nbsp;second quarter&nbsp;is:
<ul>
<li>Net revenues are expected to be&nbsp;$3.2 billion, a decrease of&nbsp;7.6%&nbsp;sequentially, plus or minus 350 basis points.</li>
<li>Gross margin of&nbsp;40%, plus or minus 200 basis points.</li>
<li>This&nbsp;outlook&nbsp;is based on an assumed effective currency exchange rate of approximately&nbsp;$1.08&nbsp;= &euro;1.00 for the 2024&nbsp;second quarter&nbsp;and includes the impact of existing hedging contracts.</li>
<li>The&nbsp;second quarter&nbsp;will close on June 29, 2024.</li>
</ul>

STMicroelectronics Expects Q2 Net Revenues To Be $3.2B (Vs. Consensus Of $3.8B); Sees Gross Margin Of 40%, Plus Or Minus 200 Bps

In this second tranche of the share buy-back programme for 2024, shares for up to USD 528 million will be purchased in the market, implying a total second tranche of up to USD 1.6 billion including shares to be redeemed from the Norwegian State. The tranche will end no later than 22 July 2024.

Buybacks

EQNR

Equinor To Commence Second Tranche Of Up To $1.6B In Its 2024 Share Buy-Back Programme

OpenAI CEO Sam Altman has invested $20 million in Exowatt, an energy startup aiming to address the soaring electricity demands of artificial intelligence (AI) data centers.
What Happened: Altman, along with venture capital firm Andreessen Horowitz, has backed Exowatt, a company focusing on sustainable energy solutions for large data centers, <a href="https://www.wsj.com/tech/ai/sam-altman-investment-exowatt-energy-startup-ai-data-centers-eeeca766">reported</a> The Wall Street Journal on Monday. 
Exowatt is developing a novel approach to solar power and energy storage to meet the energy needs of AI data centers.
Altman&#8217;s investment in Exowatt underscores the growing concern over the energy consumption of AI data centers. The surge in demand for electricity is not only a threat to the industry&#8217;s growth but also hinders the transition to clean energy.
Exowatt&#8217;s solution involves the use of solar lenses to convert sunlight into heat, which is then stored in basic materials. This stored energy can be used to generate electricity, providing a cost-effective and sustainable power source for data centers.
Exowatt&#8217;s CEO, Hannan Parvizian, emphasized that the company&#8217;s approach is unique due to its combination of solar and low-cost heat batteries in a single unit. The company plans to deploy its first units for data-center customers later this year.
"You don't have to go back to fossil fuels to solve the data-center energy problem…That's counterproductive," Exowatt's CEO, said in an interview.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Why It Matters: Altman&#8217;s investment in Exowatt comes on the heels of his advocacy for a global coalition to support the <a href="https://www.benzinga.com/news/24/04/38195200/sam-altman-pitches-allied-nations-to-join-forces-on-boosting-global-infrastructure-and-supply-chains">development of AI infrastructure</a>, including energy and data center capacity. Altman has been actively engaging with investors and government officials to address concerns about the supply of essential infrastructure for AI.
Altman has also been warning about the increasing energy demands of AI development, stressing the need for an <a href="https://www.benzinga.com/general/24/04/38093728/sam-altman-warns-ai-development-needs-an-energy-breakthrough-as-financial-pundit-says-ai-data-center">energy breakthrough</a> to sustain future advances in AI. The data centers currently account for 1-1.5% of global electricity use, according to the International Energy Agency.
Altman&#8217;s investment in Exowatt also reflects his broader interest in energy solutions. Despite being a prominent figure in the AI sector, much of Altman&#8217;s estimated wealth <a href="https://www.benzinga.com/news/24/03/37440684/openais-sam-altman-has-an-estimated-2-billion-net-worth-and-much-of-it-doesnt-come-from-ai">isn&#8217;t rooted in OpenAI</a>. His wealth primarily stems from his investments in venture capital funds and startups.
Read Next: <a href="https://www.benzinga.com/government/24/04/38350596/former-gop-hopeful-nikki-haley-joins-calls-for-tiktok-ban-to-stop-infiltration-of-chinese-communist?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former GOP Hopeful Nikki Haley Joins Calls For TikTok Ban To &#8216;Stop Infiltration Of Chinese Communist Party Into Lives Of Americans&#8217;</a>
Image Via Shutterstock 
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 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/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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Startups

OpenAI's Sam Altman Invests $20M In Startup Using Solar Power To Address AI's Massive Energy Appetite

STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) reported quarterly earnings of $0.54 per share which missed the analyst consensus estimate of $0.65 by 16.92 percent. This is a 50.91 percent decrease over earnings of $1.10 per share from the same period last year. The company reported quarterly sales of $3.465 billion which missed the analyst consensus estimate of $3.615 billion by 4.14 percent. This is a 18.41 percent decrease over sales of $4.247 billion the same period last year.

STMicroelectronics Q1 2024 GAAP EPS $0.54 Misses $0.65 Estimate, Sales $3.465B Miss $3.615B Estimate

Equinor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) reported quarterly earnings of $0.96 per share which beat the analyst consensus estimate of $0.80 by 20 percent. This is a 22.58 percent decrease over earnings of $1.24 per share from the same period last year. The company reported quarterly sales of $24.789 billion which beat the analyst consensus estimate of $22.240 billion by 11.46 percent. This is a 13.08 percent decrease over sales of $28.520 billion the same period last year.

Equinor Q1 2024 Adj EPS $0.96 Beats $0.80 Estimate, Sales $24.789B Beat $22.240B Estimate

The U.S. Department of Justice is conducting a criminal investigation into the consulting firm McKinsey &amp; Company for its role in advising major opioid manufacturers on increasing sales. The investigation also focuses on potential obstruction of justice related to McKinsey&#8217;s consulting records for opioid producers.
What Happened: The investigation, which has been ongoing for several years, has led to the formation of a grand jury in Virginia. The U.S. attorney&#8217;s offices in the Western District of Virginia and the District of Massachusetts are jointly conducting the probe, <a href="https://www.wsj.com/articles/mckinsey-faces-criminal-probe-over-opioid-related-consulting-a3f816d4">reported</a> The Wall Street Journal citing people familiar with the investigation.
The criminal investigation revolves around McKinsey&#8217;s advice to pharmaceutical clients, including Purdue, Endo International, and Mallinckrodt, which previously triggered a wave of civil litigation against the firm. McKinsey reached a $642 million settlement with all 50 states and other entities in 2021, without admitting wrongdoing.
The firm&#8217;s former clients, Purdue, Endo, and Mallinckrodt, filed for bankruptcy while facing mass lawsuits alleging they sold drugs through misleading marketing practices, exacerbating addiction. McKinsey helped Purdue develop an initiative to boost OxyContin sales, including advising the company to focus on high-volume prescribers.
See Also: <a href="https://www.benzinga.com/general/biotech/24/04/38388306/moderna-faces-pfizer-biontech-in-london-patent-battle-over-covid-19-vaccines-in-legal-showdown?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Moderna Faces Pfizer, BioNTech in London Patent Battle over Covid-19 Vaccines In Legal Showdown</a>
McKinsey has previously stated that it ceased work on opioid-specific businesses in 2019 and that its work for Purdue was intended to support the legal use of opioids and patients with legitimate medical needs.
McKinsey did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The criminal investigation into McKinsey&#8217;s opioid-related consulting is a significant development in the ongoing legal battle surrounding the opioid epidemic. This investigation follows a series of similar actions against other entities involved in the crisis.
Earlier this year, in a landmark move, Publicis Groupe (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PUBGY#OTC">PUBGY</a>) agreed to a <a href="https://www.benzinga.com/government/24/02/36906250/publicis-to-pay-350m-in-first-ever-opioid-marketing-settlement">$350 million settlement</a> over its alleged role in the opioid crisis. This marked the first time an advertising firm was held accountable for its part in the epidemic.
Moreover, the Supreme Court <a href="https://www.benzinga.com/government/23/08/33748967/sackler-familys-6b-commitment-in-spotlight-supreme-court-suspends-purdue-pharmas-settlement-over-opi">temporarily suspended</a> a multi-billion-dollar bankruptcy agreement involving Purdue Pharma, the producer of the opioid OxyContin. This arrangement would have shielded the company&#8217;s Sackler family owners from civil lawsuits linked to the opioid epidemic.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/04/38363518/eli-lilly-aims-to-close-supply-demand-gap-for-zepboundmounjaro-as-it-acquires-manufacturing-facil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Eli Lilly Aims To Close Supply-Demand Gap For Zepbound/Mounjaro As It Acquires Manufacturing Facility From Nexus Pharma</a>
Image Via Pixabay
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</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/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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