Latest news for Gudang Garam (OTC:GDNGY) Stock

PT Gudang Garam Tbk manufactures kretek cigarettes, which are clove cigarettes common in Indonesia. The firm's operations are almost entirely domestic, with its tobacco and clove farmers, two production facilities, and dozens of offices all located in Indonesia. Nearly all of the company's sales are generated in Indonesia. The company's brand families include Gudang Garam, Surya, GG, and Merah. Other brands include Sriwedari, which is a hand-rolled brand, and Klobot. The company's segment includes Cigarettes, Paperboard, Infrastructure, and Others. The company generates the majority of its revenue from sale of Cigarettes.

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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. 
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43193866/trumps-tariff-hikes-could-stoke-consumer-inflation-jitters-challenge-fed-goldman-sachs-warns" target="_blank" rel="noreferrer noopener">Trump's Tariff Hikes Could Stoke Consumer Inflation Jitters, Challenge Fed, Goldman Sachs Warns</a></li>
</ul>
Photo courtesy: Shutterstock

Politics

Tech

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>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43214479/cybertruck-off-road-armor-launch-delayed-to-march-end-says-tesla-exec">Cybertruck Off Road Armor Launch Delayed To March-End, Says Tesla Exec</a></li>
</ul>
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 $500 Billion Stargate AI Project, Says &#8216;I Wish I Had Done More Of My Own Thinking&#8217;</a>
According to Munster, the increased investment in AI infrastructure will particularly benefit Nvidia and other hardware players in the short term. In the long term, the higher capital expenditure (Capex) is expected to accelerate the AI flywheel, leading to more innovation, lower usage costs, an increase in customers, and consequently, more investment.
He also issued a reminder, stating, &#8220;I believe the market is&nbsp;going higher and the run&nbsp;will end in a spectacular&nbsp;bubble burst.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The latest datapoint that the AI trade remains intact. Zuckerberg&#39;s comment that <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/43185661/openai-struggles-to-value-microsoft-stake-as-it-looks-to-transition-to-for-profit-entity-as-trumps-500-billion-stargate-ai-project-kicks-off-report">OpenAI Wrestles With Microsoft Stake Valuation As It Looks To Transition To For-Profit Entity Amid Trump&#8217;s $500 Billion Stargate AI Project: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

Equities

AMZN

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>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/43183608/tesla-launches-refreshed-model-y-variant-in-us-canada-after-china" target="_blank" rel="noreferrer noopener">Tesla Launches Refreshed Model Y In US With 25% Price Hike, Full Self-Driving Included</a></li>
</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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41181916/mark-cuban-offers-to-help-elon-musk-boost-x-revenue-says-tesla-ceo-is-concerned-about-declining-user?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Offers To Help Elon Musk Boost X Revenue, Says Tesla CEO Is Concerned About Declining Users: ‘I Wish He Would Call Me'</a></li>
</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

General

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.
Read Next:
<ul>
<li><a style="font-weight: bold;" href="https://www.benzinga.com/25/01/43193866/trumps-tariff-hikes-could-stoke-consumer-inflation-jitters-challenge-fed-goldman-sachs-warns">Trump&#8217;s Tariff Hikes Could Stoke Consumer Inflation Jitters, Challenge Fed, Goldman Sachs Warns</a></li>
</ul>
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;
<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">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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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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>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43183608/tesla-launches-refreshed-model-y-variant-in-us-canada-after-china" target="_blank" rel="noreferrer noopener">Tesla Launches Refreshed Model Y In US With 25% Price Hike, Full Self-Driving Included</a></li>
</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. 
<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">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>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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>
Read Next:
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</ul>
Photo courtesy: Shutterstock

Analyst Ratings

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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<iframe loading="lazy" title="Steve Jobs Interview - 2/18/1981" width="500" height="375" src="https://www.youtube.com/embed/DbfejwP1d3c?start=1025&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
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.
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>.
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>
</ul>
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

GITS

ENVB

BNGO

CDTTW

Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has outperformed the market over the past 15 years by 15.64% on an annualized basis producing an average annual return of 27.78%. Currently, Amazon.com has a market capitalization of $2.47 trillion. 
Buying $100 In AMZN: If an investor had bought $100 of AMZN stock 15 years ago, it would be worth $3,745.32 today based on a price of $234.56 for AMZN at the time of writing.
<h3>Amazon.com's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737762309_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Amazon.com 15 Years Ago Would Be Worth This Much Today

Philadelphia Eagles wide receiver A.J. Brown, one of the highest-paid players in the NFL, has been making headlines lately – not just for his on-field talent but for his unassuming lifestyle choices. Brown, who signed a $96 million contract extension last offseason, surprised fans when he pulled up to a playoff game in a modest $30,000 Honda Accord.
<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">100 million dollar receiver AJ Brown is going viral for pulling up in a $30,000 Honda to todays game <a href="https://t.co/aqJPn6YPp7">pic.twitter.com/aqJPn6YPp7</a>
&mdash; SAY CHEESE! &#x1f444;&#x1f9c0; (@SaycheeseDGTL) <a href="https://twitter.com/SaycheeseDGTL/status/1881055447572271317?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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While luxury cars are often the norm for athletes of his caliber, Brown's decision sparked a wave of admiration on social media. Many praised him for staying grounded despite his wealth. One <a href="https://x.com/Talmadge18/status/1881084987363192934">tweet</a> by wealth manager Adam Talmadge summed up the sentiment: "This should be praised, not shamed! 78% of NFL players experience financial stress within two years of leaving the league. Warren Buffett drives a 2014 Cadillac XTS! I see a man who understands financial responsibility."
The comparison to billionaire investor Warren Buffett isn't far off. Buffett, famously frugal, <a href="https://www.benzinga.com/general/24/05/39040353/warren-buffett-drives-10-year-old-cadillac-bought-with-hail-damage">still drives a 2014 Cadillac XTS</a> he purchased with hail damage and lives in the same modest Omaha home he <a href="https://www.benzinga.com/news/24/09/41107810/billionaire-warren-buffett-still-lives-in-an-old-corner-house-he-purchased-for-32k-i-couldnt-imagine">bought in 1958 for $31,500</a>. Like Buffett, Brown's choice reflects a financial discipline rare in professional sports.
Trending: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
<h2 class="wp-block-heading">A Viral Moment That Resonates</h2>
This isn't the first time Brown has gone viral during the NFL playoffs. In the Eagles' Wild Card win over the Green Bay Packers, cameras caught him reading a self-help book, Inner Excellence by Jim Murphy, on the sidelines. The moment resonated so much with fans that it <a href="https://www.benzinga.com/general/psychology/25/01/42964097/nfl-star-helps-self-help-book-hit-1-on-amazon-my-teammates-call-it-the-recipe">catapulted the book to #1</a> on Amazon's charts. Brown explained that the book, which focuses on mental toughness and peak performance, helps him stay sharp on and off the field.
<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">AJ Brown is reading a book on the sideline? &#x1f4da;&#x1f602; &#x1f4fa; FOX <a href="https://t.co/jQGv8smD9N">pic.twitter.com/jQGv8smD9N</a>
&mdash; FOX Sports: NFL (@NFLonFOX) <a href="https://twitter.com/NFLonFOX/status/1878597906321609099?ref_src=twsrc%5Etfw">January 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Brown's grounded approach to finances and mental health has won him admiration beyond football. In a league where players are often pressured to flaunt their wealth, his modest car and sideline reading habit symbolize his focus on long-term well-being.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
<h2 class="wp-block-heading">Why It Matters</h2>
Brown's actions remind us that wealth doesn't have to result in flashy spending. Statistics show that many NFL players face financial difficulties shortly after retirement, highlighting the importance of financial literacy and responsibility. Brown sets an example for athletes and fans by choosing a reliable and affordable car.
Buffett has often said that additional spending doesn't significantly improve the quality of life after a certain level of comfort. Similarly, Brown's decisions – from his car to his mental game – demonstrate a commitment to living intentionally, even in a world where excess is often celebrated.
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$100 Million Receiver AJ Brown Goes Viral Again. This Time For Arriving In A $30,000 Honda Drawing Warren Buffett Comparisons

Encompass Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EHC#NYSE">EHC</a>) has outperformed the market over the past 15 years by 1.26% on an annualized basis producing an average annual return of 13.39%. Currently, Encompass Health has a market capitalization of $9.63 billion. 
Buying $1000 In EHC: If an investor had bought $1000 of EHC stock 15 years ago, it would be worth $6,679.64 today based on a price of $95.66 for EHC at the time of writing.
<h3>Encompass Health's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737761410_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Encompass Health 15 Years Ago Would Be Worth Today

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