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Investors are looking to riskier bond ETFs in anticipation of a U-turn in Fed&#39;s monetary policy.

Investors Pour Billions To Aggressive Bond ETFs, Banking On Multiple Fed Rate Cuts in 2024

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has announced a $9 billion investment in expanding its cloud computing infrastructure in Singapore. This decision comes as part of a broader trend of global tech companies increasing their presence in Southeast Asia.
What Happened: The $9 billion investment will be carried out over the next four years and will effectively double Amazon Web Services&#8217; current investment in Singapore. The expansion aims to meet the growing demand for cloud services and accelerate the adoption of artificial intelligence, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-07/amazon-to-invest-9-billion-in-singapore-to-expand-cloud-infrastructure-amzn">reported</a> on Tuesday.
With this move, AWS joins other tech giants such as Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in expanding their presence in Southeast Asia. These companies are diversifying their investments away from China, amidst ongoing geopolitical tensions with the U.S.
Earlier this year, AWS announced plans to invest approximately $35 billion outside the U.S., including in Japan, Saudi Arabia, and Mexico. The company is also establishing clusters of data centers in Malaysia and Thailand.
See Also: <a href="https://www.benzinga.com/news/24/05/38635067/elon-musk-says-robert-de-niro-is-so-out-of-touch-its-insane-after-legendary-actor-compares-trump-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Robert De Niro Is &#8216;So Out Of Touch, It&#8217;s Insane&#8217; After Legendary Actor Compares Trump To Hitler, Calls Ex-President A &#8216;Monster&#8217;</a>
Why It Matters: This significant investment by Amazon in Singapore is part of a larger trend of tech companies expanding their presence in Southeast Asia. Just last week, Microsoft announced a <a href="https://www.benzinga.com/markets/asia/24/05/38573653/microsoft-commits-2-2b-investment-in-malaysias-cloud-and-ai-services-largest-in-32-years">$2.2 billion investment in Malaysia&#8217;s cloud and AI services</a>, its largest investment in the country in 32 years. This move by Amazon further underscores the region&#8217;s growing importance as a tech hub.
Meanwhile, Apple has been <a href="https://www.benzinga.com/government/24/04/38460042/apple-strengthens-supply-chain-in-china-while-growing-presence-in-southeast-asia-and-india">deepening its involvement with China</a> while expanding its production in Southeast Asia and India. Despite the challenges faced by Apple in China, the company continues to see the region as a crucial part of its global strategy.
Earlier this year, Google Cloud executives also recognized Singapore&#8217;s potential as a leading <a href="https://www.benzinga.com/government/24/02/36987795/google-clouds-singapore-alliance-a-beacon-for-ai-innovation-and-investor-opportunities">global AI hub</a>, attributing its success to a conducive environment for innovation and robust public-private partnerships.
Price Action: Amazon&#8217;s after-hours trading on Monday shows a slight decrease of 0.24 points, amounting to 0.13% at $188.46, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>. 
Read Next: <a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says If Supreme Court Decides President Doesn&#8217;t Get Immunity Then Biden &#8216;Will Be Prosecuted For All His Crimes&#8217;</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">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/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Tech

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Amazon To Invest $9B In Singapore Cloud Infrastructure, Doubling Its Current Investment

A U.S. soldier has been detained in Russia on theft charges. The soldier, identified as Gordon Black, will remain in custody until Jul. 2.
What Happened: The Pervomaisky District Court in Vladivostok, Russia, has ordered the arrest of U.S. soldier Gordon Black on theft charges, Reuters reported on Tuesday citing RIA state news agency. 
&#8220;The Pervomaisky District Court in Vladivostok arrested the American soldier Gordon Black &#8230; under the &#8216;Theft&#8217; article (of Russia&#8217;s criminal code),&#8221; RIA cited the court&#8217;s spokeswoman as saying.
The U.S. Army, which was informed of the soldier&#8217;s detention on Monday, has not officially disclosed the soldier&#8217;s identity. However, an anonymous U.S. official revealed that the soldier was stationed in South Korea and is accused of stealing from a woman.
See Also: <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger Amid Rising Tensions</a>
The soldier, reportedly a sergeant in the South Korea-based Army, allegedly met a woman from Vladivostok, Russia, on the internet. They lived together for a period, during which he allegedly stole 200,000 roubles ($2,196) from her, as per an unnamed source quoted by the Russian daily Izvestia.
Why It Matters: This incident comes at a time of heightened tensions between the U.S. and Russia. Just days before Black&#8217;s arrest, <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions">Russian troops entered a U.S. military base in Niger</a>, following the junta&#8217;s order to expel U.S. forces. This move was described as &#8220;not great but in the short-term manageable&#8221; by a senior U.S. defense official.
Moreover, Russia recently announced plans for a <a href="https://www.benzinga.com/news/24/05/38639765/russia-plans-tactical-nuclear-weapons-exercise-as-response-to-western-provocative-statements-and-thr">tactical nuclear weapons exercise</a> in response to what it perceives as escalating threats from Western nations. This exercise, ordered by President Vladimir Putin, is intended to test the combat readiness of non-strategic nuclear forces.
Additionally, Russia has threatened to target <a href="https://www.benzinga.com/news/24/05/38658489/russia-lashes-out-after-david-cameron-says-ukraine-has-the-right-to-use-british-weapons-threatens-to">British military installations and equipment</a> in response to Ukraine&#8217;s use of British weapons against Russian territory. This warning came after UK Foreign Secretary David Cameron stated that Ukraine has the &#8220;right&#8221; to use British weapons.
Read Next: <a href="https://www.benzinga.com/news/24/05/38632362/russian-troops-enter-us-military-base-in-niger-trumps-views-on-presidential-immunity-and-more-top-po?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger, Trump&#8217;s Views On Presidential Immunity And More: Top Political Updates</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">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/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Politics

Global

Russian Court Orders Arrest Of US Soldier On Theft Charges: Report

Tesla, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) annual shareholder meeting scheduled for August is vital for the electric vehicle maker as it has played a gambit by bringing the now-nullified <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38514792/is-elon-musk-working-so-hard-to-ensure-his-pay-package-is-approved-by-shareholders-">Elon Musk&#8217;s pay package back to the table.</a> The desperation of getting a deal done is evident from the frantic calls by the board and more recently by the man himself.
On Saturday, the billionaire made an impassioned plea to shareholders to vote at the annual event, although he did not explicitly request to approve his pay package.
What Happened: &#8220;Please take a moment to vote your Tesla shares and let us know if you encounter any issues with voting,&#8221; said Musk in a post. The billionaire commented as Tesla influencer and investor Sawyer Merritt shared new instructions from the company regarding voting at the shareholder meeting.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla has released new instructions on how to vote in their upcoming 2024 shareholders meeting in June. • How to vote Online • How to vote by QR code • How to vote by Mail • How to vote by Phone Source: <a href="https://t.co/P4d1WCBOUs">https://t.co/P4d1WCBOUs</a> <a href="https://t.co/MKIlk1mihA">pic.twitter.com/MKIlk1mihA</a>
&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1786405959750881785?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
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In a dedicated webpage, Tesla emphasized the role of Musk in creating value for shareholders. &#8220;Thanks to Elon Musk's vision and leadership, Tesla has created tremendous value for you, the owners of the Company, all while advancing its mission to accelerate the transition to sustainable energy,&#8221; the company said.
&#8220;Stockholders, we need your vote.&#8221; The company gave instructions for voting by phone, online, by QR code, and by mail.
Among the company-sponsored proposals to be voted at the shareholder meeting are approval of the 2018 CEO performance award, which a Delaware Chancery Court nullified, and shifting Tesla&#8217;s state of incorporation to Texas.
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: There has been a raging debate over Tesla&#8217;s move to re-up the 2018 pay plan, with some, including legal experts, opining that potential approval would mean <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38309306/legal-expert-says-tesla-shareholder-vote-to-approve-elon-musks-pay-for-his-past-wor">paying somebody for past work and doesn&#8217;t really benefit the company.</a>
While sell-side analysts mostly believe the proposal will receive shareholder greenlight without any trouble, Ann Lipton, Associate Professor of Business Law and Entrepreneurship at Tulane University Law School, said it might have to be approved unanimously and not by a simple majority, as has been the typical norm.
In 2018, the proposal received a nod from shareholders representing 73% of the outstanding shares.
<a href="https://www.benzinga.com/news/24/05/38630179/teslas-board-chair-pleads-for-reapproval-of-elon-musks-controversial-47-billion-compensation-incredi">Tesla Chair Robyn Denholm recently released a video,</a> requesting shareholders to vet the $47 billion plan, a reduction from the originally approved $56 billion amid a pullback in the shares. 
On the other hand, Leo KoGuan, who reportedly has a 0.8% interest in Tesla, has <a href="https://www.benzinga.com/markets/equities/24/05/38634310/tesla-retail-shareholder-who-poured-3-5b-into-ev-stock-screams-foul-over-magician-elon-musks-pay">sharply criticized Musk for wanting a controlling stake</a> in the EV maker. To gain a controlling stake, the billionaire needs to pick up 10% more shares.
Tesla ended Monday&#8217;s session up 1.97% at $184.76, according to Benzinga Pro data, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/05/38635317/its-an-obvious-move-elon-musk-nudges-warren-buffett-again-to-take-position-in-tesla-heres-why-th"> &#8216;It&#8217;s An Obvious Move:&#8217; Elon Musk Nudges Warren Buffett Again To Take Position In Tesla — Here&#8217;s Why That May Not Happen Soon</a>
Photo via Shutterstock

Management

TSLA

'Please Take A Moment To Vote Your Tesla Shares:' Elon Musk Makes Impassioned Plea To Shareholders Amid Backlash Over Renegotiating 2018 Pay Plan

Fees charged for processing transactions on the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) network have been on the rise in the last two years, providing a more sustainable source of income for a sector whose margins are narrowing.
What happened: Transaction fees now account for more than 7% of the miners' total earnings, dramatically up from just 1% two years ago, according to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant.&nbsp;
In fact, on May 5, fees constituted more than 22% of the total mining revenue.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Building apps on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> has significantly changed miners&#39; income streams. Transaction fees now account for over 7% of their total revenue, up from 1% two years ago. This trend has persisted for the last four weeks and could potentially strengthen the network&#39;s fundamentals. <a href="https://t.co/YVbdmLXB5c">pic.twitter.com/YVbdmLXB5c</a>
&mdash; Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1787646002754965832?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
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"This trend has persisted for the last four weeks and could potentially strengthen the network&#8217;s fundamentals," the CEO added.&nbsp;
The growing transaction fees pie could be attributed to novel token protocols like <a href="https://www.benzinga.com/money/what-are-bitcoin-ordinals">Ordinals </a>and <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38574629/exclusive-runes-could-transform-our-understanding-of-bitcoin-experts-tell-benzinga">Runes</a>, which have added more utility to Bitcoin. These technologies have enabled minting of non fungible and fungible tokens on the network, resulting in a higher number of transactions.&nbsp;
Why it matters: This surge is essential because it mitigates the impact of decreasing block rewards due to the halving.
Miner revenue is composed of two components &#8211; fixed block subsidy and transaction fees paid by users. Due to the programmatic <a href="https://www.benzinga.com/topic/bitcoin-halving">halving events</a>, block rewards take a hit.
But as transaction fees continue to take up a bigger part of the revenue, they could help offset the thinning profit margins after each successive halving.
The recent halving illustrated this changing paradigm. The day when block rewards were slashed from 6.25 Bitcoins to 3.125 Bitcoins, fees exploded to an all-time high, cornering more than 60% of the total revenue, <a href="https://data.hashrateindex.com/chart/bitcoin-transaction-fees">according </a>to Hashrate Index.&nbsp;
Price action: Bitcoin was trading at $63,264 at the time of publication, following a 1.16% decline in the last 24 hours, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38637736/bitcoin-hits-one-billion-transactions-amid-weekend-rebound-15-years-after-satoshi-nakamoto#:~:text=In%20a%20historic%20milestone%20for,the%20pseudonymous%20creator%2C%20Satoshi%20Nakamoto.">Bitcoin Hits One Billion Transactions Amid Weekend Rebound 15 Years After Satoshi Nakamoto Created It — But Was It Faster Than Ethereum?</a>

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

Cryptocurrency

$BTC

Bitcoin's Transaction Fees Dominate Income As App Development Thrives, Says Analyst — A Boom For Industry With Dwindling Block Subsidies?

Adtran (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) reported quarterly losses of $(0.02) per share which beat the analyst consensus estimate of $(0.11) by 81.82 percent. This is a 85.71 percent increase over losses of $(0.14) per share from the same period last year. The company reported quarterly sales of $226.173 million which beat the analyst consensus estimate of $224.025 million by 0.96 percent. This is a 30.17 percent decrease over sales of $323.912 million the same period last year.

Earnings

Earnings Beats

ADTN

Adtran Q1 2024 Adj EPS $(0.02) Beats $(0.11) Estimate, Sales $226.173M Beat $224.025M Estimate

Macro Economic Events

Econ #s

Economics

Reported Earlier, U.K. BRC Retail Sales Monitor (YoY) For April -4.4% Vs. 1.6% Est.; 3.2% Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index For April 54.3 Vs. 54.6 Est. 54.1 Prior

Reported Earlier, Australia Retail Sales (MoM) -0.4% Vs. -0.2% Est.; 0.2% Prior

Australia Interest Rate Decision For May Unchanged At 4.35%

The much-anticipated first crewed test flight of Boeing Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) Starliner space capsule has been postponed due to a technical issue, marking another setback for the aerospace giant.
What Happened: The first crewed test flight of Boeing&#8217;s Starliner space capsule, which was set to take place on Monday, was called off due to a technical issue, Reuters reported. The issue was not resolved in time for the scheduled launch from NASA&#8217;s Kennedy Space Center in Florida.
The Starliner was set to embark on its first crewed test flight two years after its initial uncrewed journey to the International Space Station. The spacecraft, developed in collaboration with NASA&#8217;s Commercial Crew Program, is designed to transport up to seven passengers or a combination of crew and cargo to low-Earth orbit.
The crew for the Starliner&#8217;s first crewed test flight included NASA astronauts Barry &#8220;Butch&#8221; Wilmore and Sunita &#8220;Suni&#8221; Williams.
Over the past several years, Boeing&#8217;s spacecraft program has seen a series of significant events. In 2015, the company unveiled an assembly plant for its commercial spacecraft, intended for NASA&#8217;s missions to the International Space Station. 
However, challenges arose, such as a parachute failure during a crucial test in 2019 and software glitches that hindered ISS rendezvous attempts in 2020. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38629592/benzinga-bulls-and-bears-apple-tesla-amc-bitcoin-and-shiba-inus-chart-forms-powerful-technical-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Apple, Tesla, AMC, Bitcoin And Shiba Inu&#8217;s Chart Forms Powerful Technical Patterns</a>
Why It Matters: Despite setbacks, there were successful milestones, including the launch and docking of the Starliner capsule with the ISS in 2022. Yet, ongoing issues led to delays and safety concerns, leading Boeing to halt preparations for a crewed test flight in 2023. 
Despite these challenges, Boeing has been working to address the issues. In August, the company <a href="https://www.benzinga.com/news/23/08/33746079/boeing-puts-starliner-on-backburner-to-focus-on-upcoming-nasa-artemis-ii-moon-mission">announced plans</a> to have the Starliner ready for its first crewed flight by March. 
The company has also received support from SpaceX CEO Elon Musk, who offered <a href="https://www.benzinga.com/news/23/07/33408845/elon-musk-offers-helping-hand-as-boeing-starliners-woes-continue">assistance with crewed parachute systems</a> to help address the Starliner&#8217;s technical challenges.
Despite these efforts, the latest delay is a setback for Boeing&#8217;s space exploration ambitions and could impact the company&#8217;s standing in the competitive space industry.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38634310/tesla-retail-shareholder-who-poured-3-5b-into-ev-stock-screams-foul-over-magician-elon-musks-pay?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Retail Shareholder Who Poured $3.5B Into EV Stock Screams Foul Over &#8216;Magician&#8217; Elon Musk&#8217;s Pay Package Plan, Urges Other Investors To Vote No: &#8216;Don&#8217;t Be A Sucker&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">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/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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SPACE

Boeing's Starliner Crewed Test Flight Postponed Due To Technical Issue, Continuing Challenges In Space Program

The sensitive details of an undisclosed number of active U.K. military personnel have been compromised in a <a href="https://www.benzinga.com/news/24/04/38136927/uk-warned-of-ai-misinformation-targeting-2024-polls-nation-state-hackers-raise-stakes">major breach of data security</a>. According to media reports, the Chinese state was behind the cyber attack. 
What Happened: The UK government is set to disclose the breach to Members of Parliament on Tuesday. Although the government has not named any country involved, Sky News has <a href="https://news.sky.com/story/china-hacked-ministry-of-defence-sky-news-learns-13130757">accused</a> China of being the culprit behind the attack. 
The breach targeted both current and former service personnel, compromising their names and bank details. However, the report notes that every employee will receive their salary for this month.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38628511/ftc-grills-jeff-bezos-over-use-of-signals-auto-delete-feature-amid-amazons-antitrust-suit-i-can-make?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">FTC Grills Jeff Bezos Over Use Of Signal&#8217;s Auto-Delete Feature Amid Amazon&#8217;s Antitrust Suit: &#8216;I Can Make A Mistake&#8217;</a>
Tobias Ellwood, a Conservative MP and former soldier, told the report that China &#8220;was probably looking at the financially vulnerable with a view that they may be coerced in exchange for cash.&#8221;
Defence Secretary&nbsp;Grant Shapps&nbsp;is expected to address the Commons and unveil a &#8220;multi-point plan&#8221; to safeguard the affected service members. The MoD has assured that the contractor system, which was breached, is not linked&nbsp;to the main MoD computer&nbsp;systems and has been taken&nbsp;down for review.
The Chinese Ministry of Foreign Affairs did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments. 
Why It Matters: This is not the first time that China has been accused of cyber-attacks on Western nations. 
In March 2024,&nbsp;In March, the U.K. government made a public accusation that China was responsible for a hack in August 2021 aimed at accessing the details of millions of voters stored by the Electoral Commission. In the same month,&nbsp;Google reported a <a href="https://www.benzinga.com/news/24/03/37975197/google-uncovers-chinas-alarming-surge-in-cyber-espionage-zero-day-exploits-through-the-roof">surge in China&#8217;s government-backed</a> exploitation of zero-day vulnerabilities. 
Moreover, Australia and New Zealand have <a href="https://www.benzinga.com/news/24/03/37928154/australia-and-new-zealand-accuse-china-of-covert-cyberattack-campaigns-against-democratic-nations">levied accusations against China</a>, alleging that it orchestrated cyberattacks targeting their democratic institutions.
Previously, the <a href="https://www.benzinga.com/government/24/02/37197873/fbi-director-warns-of-chinas-cyber-threat-labels-current-situation-as-tip-of-the-iceberg">U.S. has voiced significant concern</a>. In February, FBI Director Christopher Wray cautioned that China&#8217;s clandestine placement of offensive malware within critical infrastructure networks in the U.S. has reached an unprecedented scale.
Photo Courtesy: Andrew Linscott on Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38605346/dogecoin-co-creator-and-mkbhd-slam-siri-after-apples-q2-earnings-its-such-a-piece-of-garbage?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Co-Creator And MKBHD Slam ‘Siri' After Apple's Q2 Earnings: ‘It's Such A Piece Of Garbage'</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.

Media

Major Hacking Incident Exposes Data Of Military Personnel In UK Ministry Of Defence Breach — Is China To Blame?

CNBC&#8217;s Jim Cramer has indicated that the recent market sell-off, particularly in the Big Tech sector, may have come to an end.
What Happened: Cramer, the host of &#8220;Mad Money,&#8221; suggested that the market may have bottomed out, citing the recent rally in the averages on Monday. He highlighted the losses experienced by several tech giants, including NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), over the past few months, <a href="https://www.cnbc.com/2024/05/06/cramer-says-the-sell-off-may-be-over-pointing-to-big-tech-correction.html">reported</a> CNBC.
&#8220;I think the sell-off could finally be over,&#8221; he said. &#8220;Stop waiting for a correction to give you better buying opportunities, we just had one for heaven&#8217;s sake.&#8221;
Despite concerns over the Federal Reserve&#8217;s next interest rate decision, Nvidia&#8217;s stock was impacted. However, the company&#8217;s announcement of a promising new graphics chip led to a rebound. Microsoft also experienced a decline but rallied after strong earnings and cloud business success.
See Also: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies: &#8216;Wow&#8217;</a>
Cramer acknowledged that some might view his analysis as cherry-picking, but he insisted that he is focusing on equities that were previously considered &#8220;the great growth stocks of the era&#8221; until the market shifted in March.
Why It Matters: The recent market sell-off has been a cause for concern among investors, with major U.S. pension funds <a href="https://www.benzinga.com/general/market-summary/24/05/38653388/the-biggest-investors-are-selling-stocks-right-now-yet-s-p-500-notches-best-3-day-streak-i">shifting their investment allocations</a> away from equities. For instance, the California Public Employees&#8217; Retirement System (CalPERS) decided to decrease its stock allocation from 42% to 37% of its $494 billion fund in March.
Earlier in April, Cramer had warned that the upcoming <a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game">Big Tech earnings could determine</a> the market&#8217;s future. He specifically highlighted Nvidia&#8217;s performance, which experienced a 4% rise following a 10% drop, and cautioned that the stock&#8217;s recovery might not be enough to offset the losses.
However, Nvidia&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634160/nvidias-ai-dominance-evident-as-tech-behemoths-from-microsoft-to-meta-and-google-ke">AI infrastructure is in high demand</a>, as evidenced by the increased capital expenditures of its major clients. This demand, coupled with the company&#8217;s promising new graphics chip, could be contributing to its recent rebound.
Microsoft, on the other hand, has been <a href="https://www.benzinga.com/news/24/04/38510140/microsoft-pledges-1-7b-investment-in-emerging-asian-powerhouse-as-tech-giants-bet-big-on-ai">making significant investments in AI</a>, pledging a $1.7 billion investment in Indonesia&#8217;s cloud services and AI over the next four years. These investments, along with the company&#8217;s strong earnings and cloud business success, may be contributing to its recent recovery.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
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NVDA

Jim Cramer Suggests End Of Market Sell-Off, Points To Big Tech Recovery: 'Stop Waiting For A Correction'

On Monday, major U.S. stock indexes experienced gains, with the S&amp;P500 closing nearly 1% higher at 5,180.74, the Dow Jones Industrial Average up almost 0.5% at 38,852.27, and the Nasdaq finishing the day with a 1.19% increase at 16,349.25.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s stock rose by 8.06% to close at $25.21. The intraday high and low were $25.36 and $24.03, respectively, with a 52-week range of $7.59 to $27.5. The company reported a <a href="https://www.benzinga.com/news/earnings/24/05/38653781/palantir-q1-earnings-revenue-beat-and-raise-us-commercial-growth-continued-gaap-profitability-and-m">21% year-over-year increase</a> in first-quarter revenue to $634 million, beating the consensus estimate. 
Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)
Boeing&#8217;s shares fell by 0.80% to close at $178.35. The intraday high and low were $183.98 and $174.71, respectively, with a 52-week range of $159.7 to $267.54. The company is under a <a href="https://www.benzinga.com/news/24/05/38652488/faa-opens-new-investigation-into-boeing-787-did-employees-falsify-aircraft-records">new FAA investigation</a> related to the inspections of its 787 Dreamliner. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38630402/teslas-dogecoin-adoption-sends-crypto-market-into-frenzy-meme-coin-surges-by-over-21?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Dogecoin Adoption Sends Crypto Market Into Frenzy, Meme Coin Surges By Over 21%</a>
Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)
Lucid&#8217;s stock surged by 9.52% to close at $3.05. The intraday high and low were $3.09 and $2.81, respectively, with a 52-week range of $2.29 to $8.37. The electric vehicle company reported <a href="https://www.benzinga.com/news/earnings/24/05/38653616/lucid-q1-earnings-highlights-revenue-beat-eps-miss-production-update-and-more">first-quarter revenue</a> of $172.7 million, beating the Street consensus estimate. <a href="https://www.benzinga.com/news/earnings/24/05/38653616/lucid-q1-earnings-highlights-revenue-beat-eps-miss-production-update-and-more">Find out more here</a>.
Hims &amp; Hers Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>)
Hims &amp; Hers Health&#8217;s stock increased by 3.46% to close at $11.65. The intraday high and low were $11.9 and $11.45, respectively, with a 52-week range of $5.65 to $17.16. The company reported better-than-expected first-quarter results and strong guidance. Quarterly sales came in at $278.17 million <a href="https://www.benzinga.com/news/earnings/24/05/38653933/hims-hers-health-reports-better-than-expected-q1-results-strong-guidance">beating the analyst consensus estimate</a> of $270.38 million.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares rose by 1.97% to close at $184.76. The intraday high and low were $187.56 and $182.2, respectively, with a 52-week range of $138.8 to $299.29. The company has reportedly <a href="https://www.benzinga.com/news/24/05/38648277/tesla-lays-off-more-employees-over-weekend-report">laid off more employees</a> over the weekend. 
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38612883/how-to-earn-500-a-month-from-nvidia-stock-ahead-of-q1-earnings-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Earn $500 A Month From Nvidia Stock Ahead Of Q1 Earnings Report</a>
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Hims & Hers Health, Inc. Class A Common Stock

HIMS

LCID

PLTR

Palantir, Boeing, Lucid Group, Hims & Hers, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Tesla and SpaceX CEO Elon Musk and Argentina president Javier Milei met on the sidelines of the 27th annual Milken Institute Global Conference on Monday, their second meeting in less than a month.
What happened: The tech czar posted a photo of him with President Milei on social platform x, where both could be seen enthusiastically posing with a double thumbs up.&nbsp;
Secretary General of the Presidency, Karina Milei, and Argentine Ambassador to the United States, Gerardo Werthein were also seen in the picture.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I recommend investing in Argentina <a href="https://t.co/DIrcf8TsLN">https://t.co/DIrcf8TsLN</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1787654457339342932?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"I recommend investing in Argentina," Musk remarked while reposting the picture.&nbsp;
The two free-market proponents are headlining the annual event held at Beverly Hills, California, which sees the convergence of personalities cutting across finance, technology, sports, and media to discuss some of the most pertinent global issues.
Why it matters: Musk and President Milei met for the first time <a href="https://www.benzinga.com/markets/asia/24/04/38225670/elon-musk-meets-javier-milei-chat-about-cutting-red-tape-boosting-birth-rates-and-more">last month</a> at a Tesla electric car factory in Texas.&nbsp;
Similar camaraderie and photo-op were on the show then, with Musk commenting, &#8220;to an exciting and inspiring future!&#8221;
Miliei had shared a picture of them shaking hands with a caption reading, "long live freedom."
Both Musk and Milei have been known to have a pro-cryptocurrency stance. The Tesla Chief previously talked about his Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings and the active endorsement of meme coin Dogecoin (CRYTO: DOGE).&nbsp;
On the other hand, President Milei has praised the scarcity-driven growth model of Bitcoin and dubbed the asset a way to return monetary power to people. Many even went so far as to explore the possibility of Bitcoin becoming a legal tender in the country following his win.&nbsp;
The synergy between the two like-minded individuals could lead to potential collaboration in the field of cryptocurrencies in the future.
Price action: Bitcoin was trading at $63,790 at the time of publication, following a 0.6% drop in the last 24 hours, according to data <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>. Dogecoin plunged 4.4% to trade at $0.1574 as of this writing.
Photos via Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37487997/how-much-teslas-bitcoin-is-worth-will-elon-musks-company-sell-crypto-as-it-hits-new-all-ti">How Much Tesla&#8217;s Bitcoin Is Worth: Will Elon Musk&#8217;s Company Sell Crypto As It Hits New All-Time Highs?</a>

Elon Musk Meets Bitcoin-Supporting President Javier Milei Again: 'I Recommend Investing In Argentina'

Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) are reportedly seeking a financial advisor to resolve a dispute over the valuation of <a href="https://www.benzinga.com/general/entertainment/23/11/35693462/disney-hulu-unified-app-to-launch-next-month-in-beta-official-launch-scheduled-for-spring-2">the former&#8217;s 33% stake</a> in the streaming platform Hulu.
What Happened: The two media giants <a href="https://www.benzinga.com/general/entertainment/22/09/28903008/disney-vs-comcast-is-a-battle-brewing-over-the-value-and-who-should-own-hulu">disagree over the stake valuation</a> that Disney is set to acquire from Comcast, Reuters reported, citing people familiar with the matter. 
This move is in line with the terms of the deal they struck for Hulu last year, which stipulates that if the valuation assessments by their respective banks, JPMorgan Chase and Morgan Stanley, differ significantly, they can hire a financial advisor to resolve the issue.
See Also: <a href="https://www.benzinga.com/news/24/05/38614138/have-you-used-siri-lately-elon-musk-answers-mkbhd-after-tim-cook-teases-exciting-ai-developments-fro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Have You Used Siri Lately?&#8217; Elon Musk Answers MKBHD After Tim Cook Teases &#8216;Exciting&#8217; AI Developments From Apple This Year</a>
JPMorgan valued Hulu for Disney at approximately $27.5 billion, while Morgan Stanley valued it for Comcast at over $40 billion. As the two valuations are more than 10% apart, Disney and Comcast are now in discussions to appoint an investment bank for an independent valuation. 
According to the agreement terms, if the third appraisal aligns closest with Disney&#8217;s bank valuation, the deal will be finalized at the average of those two valuations. Likewise, if the third appraisal aligns closest with Comcast&#8217;s bank valuation, the deal will be concluded at the average of those two valuations. 
If the average of the third appraisal falls below $27.5 billion, the final valuation will be set at $27.5 billion, the report noted. 
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Hulu is known for its hit original shows like &#8220;Shogun,&#8221; &#8220;The Bear,&#8221; &#8220;Prey,&#8221; and &#8220;Only Murders in the Building.&#8221; The platform witnessed its subscriber base reach 49.7 million by December 2023, marking a 2% increase from the September quarter.
Disney has already integrated Hulu into its Disney+ streaming platform, which hosts popular titles like &#8220;Moana&#8221; and &#8220;Frozen.&#8221;
The valuation dispute arises <a href="https://www.benzinga.com/general/entertainment/22/09/28903008/disney-vs-comcast-is-a-battle-brewing-over-the-value-and-who-should-own-hulu">from a deal struck in 2019</a>, following Disney&#8217;s $71 billion takeover of 21st Century Fox&#8217;s assets, including its minority stake in Hulu. This deal gave Disney majority control over Hulu, while Comcast retained its 33% stake, anticipating a significant increase in its value by 2024.
Disney&#8217;s acquisition of the remaining 33% stake in Hulu was announced in November 2023, with a minimum payment of $8.6 billion to Comcast. The current <a href="https://www.benzinga.com/m-a/23/05/32577497/hulu-co-owners-disney-comcast-fight-to-reach-a-deal-regarding-streaming-service">valuation dispute is a crucial</a> step in finalizing this acquisition.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38638286/tesla-investor-ross-gerber-calls-warren-buffett-tough-as-nails-businessman-after-berkshire-hathaway?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Investor Ross Gerber Calls Warren Buffett &#8216;Tough As Nails Businessman&#8217; After Berkshire Hathaway Dumps Apple: &#8216;Don&#8217;t Let That Soft Mid Western Demeanor Fool You&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Entertainment

CMCSA

Disney, Comcast Seek Advisor To Figure Out How Much Hulu Is Really Worth: Report

In a recent development, former President Donald Trump has reportedly taken a jab at President Joe Biden for his perceived soft approach towards antisemitism. This criticism comes despite Trump&#8217;s own history of contentious remarks on the matter.
What Happened: Trump has leveraged the recent conflicts on college campuses over the Gaza war as a campaign issue, accusing Biden of running a &#8220;Gestapo administration.&#8221; This comment was made during a private retreat for Republican donors at his Florida resort, <a href="https://abcnews.go.com/US/wireStory/donald-trump-calls-joe-biden-weak-antisemitism-ignoring-109974759">reported</a> ABC News.
Amy Spitalnick, CEO of the Jewish Council for Public Affairs, described Trump&#8217;s comments as a &#8220;deliberate tactic&#8221; to attack Biden and divert attention from his own track record. She stated it was in line with his history of &#8220;offensive and irresponsible comments&#8221; towards the Jewish community.
Trump&#8217;s criticism comes as Biden navigates the complex divisions resulting from the Israel-Hamas war and the ensuing unrest from demonstrations. Trump and other Republicans have capitalized on the campus disruptions, portraying them as a sign of weakness from Biden and the Democrats.
Trump&#8217;s campaign released a video on Yom Hashoah, Israel&#8217;s Holocaust remembrance day, contrasting the 2024 presidential candidates&#8217; responses to antisemitism. The video juxtaposes images of Trump&#8217;s visit to Israel and his speeches pledging to confront antisemitism, with footage of campus protests and clips of Biden responding to protesters upset with his administration&#8217;s support for Israel.
See Also: <a href="https://www.benzinga.com/news/24/05/38628322/elon-musk-reacts-after-house-report-reveals-mark-zuckerbergs-meta-and-others-were-pressured-by-white?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After House Report Reveals Mark Zuckerberg&#8217;s Meta And Others Were Pressured By White House To Censor COVID Lab Leak Theory</a>
Trump also addressed the protests as he arrived in court for his trial in a felony hush money case. He claimed that many protesters were backed by Biden donors and urged Israel to &#8220;get smart.&#8221;
Biden&#8217;s campaign has condemned Trump&#8217;s comments as &#8220;despicable&#8221; and an attack on law enforcement. Biden has also spoken out against the antisemitic protests and called for &#8220;order&#8221; after some schools cleared demonstrators by force.
Why It Matters: Trump&#8217;s criticism of Biden&#8217;s handling of antisemitism comes after his own controversial remarks in March 2024, where he <a href="https://www.benzinga.com/news/24/03/37810491/trump-says-jewish-people-voting-for-democrats-hate-their-religion-and-they-hate-everything-about-isr">suggested</a> that Jewish individuals voting for Democrats hate their religion and Israel.
Following the campus protests over the Israel-Hamas conflict, Biden made his first public comments <a href="https://www.benzinga.com/news/24/05/38612403/biden-makes-first-public-comments-on-pro-palestinian-campus-protests-were-a-civil-society-and-order">condemning the violent incidents</a> and asserting that such lawlessness will not be tolerated.
Earlier in April 2024, the White House had declined Republican Speaker Mike Johnson's (R-La.) call to <a href="https://www.benzinga.com/news/24/04/38449517/white-house-declines-mike-johnsons-request-for-national-guard-deployment-amid-college-protests-over">deploy the National Guard</a> on college campuses witnessing large-scale protests over the Israel-Hamas conflict.
Photo Courtesy: Flickr
Read Next: <a href="https://www.benzinga.com/news/24/05/38632767/ex-doj-attorney-says-former-trump-aides-testimony-sinks-ex-presidents-criminal-defense-big-fat-nail?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ex-DOJ Attorney Says Former Trump Aide&#8217;s Testimony Sinks Ex-President&#8217;s Criminal Defense: &#8216;Big Fat Nail In The Coffin&#8217;</a>
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General

Trump Slams Biden Over Weakness On Antisemitism, Gets Bashed For His Own 'Offensive And Irresponsible' Comments

In a recent earnings call, Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) CEO Alex Karp made a bold assertion that the company has no competitors in the U.S. commercial and government sectors.
What Happened: Karp, during the first-quarter 2024 earnings call, dismissed the notion of any competitors in the U.S. commercial and government markets. He stated that potential rivals are merely trying to replicate Palantir&#8217;s unique capabilities but are not on the same level as Palantir.
&#8220;I don&#8217;t believe we have competitors. So, I don&#8217;t believe in the U.S. commercial market we have competition. I don&#8217;t believe in the U.S. government market we have competition,&#8221; Karp said.
&#8220;In order to actually make AI work, you need an ontology. No one has an ontology,&#8221; Karp stated. &#8220;You&#8217;d have to actually understand what is special about the software infrastructure of having the combination of Apollo, Foundry, and the ontology. And then you would have to build on top of it.&#8221;
Karp attributed this claim to the company&#8217;s proprietary technologies, including its ontology knowledge management system, Foundry data operating platform, and Apollo artificial intelligence platform, which he believes gives Palantir an insurmountable competitive edge.
See Also: <a href="https://www.benzinga.com/news/24/05/38631050/once-vehicles-for-republican-presidents-to-connect-with-southern-whites-motor-sports-are-shifting-aw?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Once Vehicles For Republican Presidents To Connect With Southern Whites, Motor Sports Are Shifting Away From Trump</a>
The CEO dismissed potential rivals as simply attempting to replicate Palantir&#8217;s unique capabilities, like &#8220;the Palantir of Iowa or the Palantir of Harvard or the Palantir of Uruguay, but they&#8217;re not Palantir.&#8221;
He also pointed out that replicating this &#8220;special&#8221; infrastructure from scratch &#8220;is going to take a long time&#8221; for competitors to achieve.
Why It Matters: The recent assertion by Karp is in line with his previous statements about the company&#8217;s unique position in the tech industry. Just days before the earnings call, Karp spoke about the <a href="https://www.benzinga.com/news/24/05/38574286/palantir-ceo-says-american-tech-industry-maximally-tolerant-of-any-personality-im-like-a-hyper-inexp">American tech industry&#8217;s</a> uncanny ability to include any personality during a Capitol Hill forum. He stated that as long as the individual is delivering results, &#8220;nobody in tech cares.&#8221;
However, Karp&#8217;s confidence has also sparked controversy. During the same Capitol Hill forum, he made some <a href="https://www.benzinga.com/news/24/05/38571263/palantir-ceo-alex-karp-jokes-about-drone-striking-rivals-suggests-sending-protesters-to-north-korea">controversial remarks</a>, including joking about drone-striking his business rivals and suggesting that protesters be sent to North Korea. The forum, organized by Jacob Helberg, a senior adviser to Karp, was intended to foster a connection between the tech industry and Congress.
Palantir&#8217;s financials seem to back up Karp&#8217;s confidence for now. Along with the surging U.S. commercial growth, the company <a href="https://www.benzinga.com/news/earnings/24/05/38653781/palantir-q1-earnings-revenue-beat-and-raise-us-commercial-growth-continued-gaap-profitability-and-m">raised its full-year 2024 revenue guidance</a> to a range of $2.677 billion to $2.689 billion. It also marked the sixth consecutive quarter of GAAP profitability with $106 million in net income.
Price Action: Palantir&#8217;s after-hours trading shows a decrease of 2.11 points, marking an 8.37% drop to $23.10, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38629592/benzinga-bulls-and-bears-apple-tesla-amc-bitcoin-and-shiba-inus-chart-forms-powerful-technical-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Apple, Tesla, AMC, Bitcoin And Shiba Inu&#8217;s Chart Forms Powerful Technical Patterns</a>
Palantir CEO Alex Karp. Photo by WEF on Flickr
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.

Palantir CEO Alex Karp Dismisses Rivals: 'We Have No Competitors' in US Commercial And Government Markets

In a surprising turn of events, YouTube sensation Jimmy Donaldson, popularly known as&nbsp;MrBeast,&nbsp;has decided to part ways with his talent management company, Night Media.
What Happened: The 25-year-old YouTube star has informed Night Media&nbsp;that the company will no&nbsp;longer be his primary talent&nbsp;management agency,&nbsp;<a href="https://www.semafor.com/article/05/05/2024/youtube-star-mr-beast--management-company-night-media">reported</a>&nbsp;Semafor, citing two people familiar with the matter. 
This decision comes as Donaldson plans to take more&nbsp;personal control of his business,&nbsp;which according to the YouTuber generated <a href="https://www.benzinga.com/news/24/02/37195970/youtubes-top-earner-mrbeast-says-hes-not-rich-because-of-this-one-reason">over $600 million in annual revenue</a> last year. 
Night Media, which has been instrumental in the success of several online influencers, including MrBeast, has expressed its intention to maintain a relationship with Donaldson, albeit not necessarily an exclusive one, the sources said. 
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Donaldson&#8217;s departure from Night Media comes on the heels of his&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/03/37809533/mrbeast-confirms-beast-games-on-amazon-prime-video-with-1-000-contestants-5m-prize-its-gonn">major Hollywood deal</a>&nbsp;with Amazon&#8217;s Prime Video for the Beast Games series, further solidifying his position as a leading figure in the entertainment industry.
Donaldson&#8217;s main YouTube channel currently has more than 256 million subscribers. Last month, T-Series, the world's most subscribed YouTube channel with more than 264 million followers, reportedly asked its followers to come <a href="https://www.benzinga.com/general/entertainment/24/04/38284637/mrbeast-reacts-to-t-series-call-for-subscriber-surge-who-will-reign-supreme-over-youtube">together to defeat MrBeast</a> in terms of subscriber count. 
The YouTuber has also been making some <a href="https://www.benzinga.com/news/24/03/37448542/mrbeast-reveals-secret-sauce-to-skyrocketing-youtube-views-slower-longer-videos-could-be-the-future">changes in his content strategy</a>. In March earlier this year, he said, "This past year I've slowed down our videos, focused on storytelling, let scenes breathe, yelled less, more personality, longer videos, etc. And our views have skyrocketed!"
Photo by Joe Seer on Shutterstock
Check out more of&nbsp;Benzinga's&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38605055/apple-ceo-tim-cook-says-china-is-the-most-competitive-market-in-the-world-as-iphone-sales-take-a-hit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple CEO Tim Cook Says China Is ‘The Most Competitive Market In The World' As iPhone Sales Take A Hit</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.

YouTube Sensation MrBeast Is Parting Ways With Management Company Night Media: Report

Spot exchange-traded funds might have excited institutional investors of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), but the frenzy is yet to catch up on retail.
What happened: The King Coin's social activity dipped significantly since peaking on the ETF approval day in early January, according to LunarCrush.
Social activity is a widely used metric in crypto circles to gauge the sentiment among retail investors, a proxy for private individuals with small holdings.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Almost hard to believe but <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> social activity has trended downwards, ever since January 10th when the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> ETF approval happened. &#x1f449;If retail is here, they&#39;re incredibly silent. View the data at <a href="https://t.co/B7aVtUbyw9">https://t.co/B7aVtUbyw9</a>. <a href="https://t.co/NYjImdn4qi">pic.twitter.com/NYjImdn4qi</a>
&mdash; LunarCrush (@LunarCrush) <a href="https://twitter.com/LunarCrush/status/1787631418203689432?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
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The data shows that socially-driven engagements like views, likes, comments, and retweets declined in the last four months. Posts by cryptocurrency content creators also failed to generate traction.
All this happened while the price of the world's largest digital asset was pumping, hitting a new all-time high past $73,000 in March.&nbsp;
Google Trends data narrated a similar story, with search interest halving from its peak in early March.&nbsp;
Why it matters: Bitcoin has generated considerable media coverage since investment vehicles tracking its spot price started trading in the U.S. market. Days of <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38638678/bitcoin-spot-etfs-rebound-with-378m-inflows-on-friday">net positive flows</a> in ETFs have invariably applied upward price pressure.&nbsp;&nbsp;
However, the last month proved rough for the general cryptocurrency market, and Bitcoin in particular. The King Coin plummeted more than 15% in April, one of the worst declines in recent history.
The corrective phase might have prompted retail to take a cautionary approach, restricting their investments in the space.
Price action: Bitcoin was trading at $63,695 at the time of writing, following a 1.13% dip in the last 24 hours, according to the data from <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">Benzinga Pro</a>. Trading volumes almost hit $30 billion in the 24-hour period, marking a 64% jump.
Photo by Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38643149/bitcoin-mining-stocks-are-moving-higher-monday-whats-going-on">Bitcoin Mining Stocks Are Moving Higher Monday: What&#8217;s Going On?</a>

Bitcoin ETFs A Social Dud For Lay Folks?  Analytics Platform Shares Data That Shows 'If Retail Is Here, They're Incredibly Silent'

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk&nbsp;opened up about what keeps him up at night, the immigration situation in the U.S., aliens, and more.&nbsp;
What Happened:&nbsp;On Monday, Musk had a conversation with&nbsp;Mike Milken, the chairman of the Milken Institute at&nbsp;MI Global.&nbsp;Their&nbsp;conversation&nbsp;was posted&nbsp;live on the tech billionaire's social media platform,&nbsp;X, formerly&nbsp;Twitter.&nbsp;
Here's a brief on what&nbsp;was discussed:&nbsp;
Immigration Has Gotten Worse
"I'm a big believer in immigration, but to have unvetted immigration at large scale is a recipe for disaster," Musk said. According to him, the government should "greatly expedite legal&nbsp;immigration," but have secure borders.&nbsp;&nbsp;
Starlink Will Move The GDPs Of Countries 
The tech billionaire said that Starlink is a technology that improves productivity per person, and that's what GDP is all about. Musk said that in today's world, many people cannot sell and learn new things without proper connectivity&nbsp;and&nbsp;that's where Starlink comes into play.&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38634420/ozempic-ftw-elon-musk-touts-novo-nordisks-blockbuster-drug-as-solution-to-childhood-obesity-problem" target="_blank" rel="noreferrer noopener">‘Ozempic Ftw:' Elon Musk Touts Novo Nordisk's Blockbuster Drug As Solution To Childhood Obesity Problem</a>
If You Have To Die Somewhere, Might As Well Be Mars
Musk said he would have accomplished to go to Mars this year if he was ready to die on impact, but that isn't the case. He wants to explore Mars before the end.&nbsp;
Making Life Multi-planetary Is Important
He said there are various explanations for "why we don't see aliens." He said what's stopping other civilizations from expanding beyond their solar system. "If you don't become a multi-planet&nbsp;civilization&nbsp;then you're simply waiting around until you die from a self-inflicted wound or some natural disaster," he added.&nbsp;
Musk further said the point is not to move from Earth and let the planet&nbsp;die,&nbsp;but to remove the redundancy so that no single event can be the end of our civilization.
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.&nbsp;
Almost No AI Use In Space Exploration
When asked if artificial intelligence can accelerate his efforts in space, the tech mogul said that one of the places where AI has almost to use is&nbsp;in the field of&nbsp;space exploration. "So, SpaceX uses&nbsp;basically&nbsp;no AI."
How To Remember Things
While speaking about how the education process should be, Musk said that our mind is "constantly trying to forget things." Therefore, the mind will only remember things if it "can establish relevance or there's a strong emotional element."&nbsp;
What Keeps Musk Up At Night And What Gives You Joy
The tech billionaire said that his kids give him joy. "I'm not saying that's the reason to have kids," he said, adding, "But I see them as the greatest source of joy in my life."&nbsp;
When it comes to&nbsp;things that keep him up at night, Musk said anything that's a civilizational risk&nbsp;like&nbsp;plummeting birth&nbsp;rates,&nbsp;and anything that undermines the foundation of democracy.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Watch LIVE: <a href="https://twitter.com/MilkenInstitute?ref_src=twsrc%5Etfw">@MilkenInstitute</a> Chairman Mike Milken in conversation with <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> at <a href="https://twitter.com/hashtag/MIGlobal?src=hash&amp;ref_src=twsrc%5Etfw">#MIGlobal</a> <a href="https://t.co/P30xoZkExA">https://t.co/P30xoZkExA</a>
&mdash; Milken Institute (@MilkenInstitute) <a href="https://twitter.com/MilkenInstitute/status/1787635180121084044?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
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Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38614138/have-you-used-siri-lately-elon-musk-answers-mkbhd-after-tim-cook-teases-exciting-ai-developments-fro" target="_blank" rel="noreferrer noopener">‘Have You Used Siri Lately?' Elon Musk Answers MKBHD After Tim Cook Teases ‘Exciting' AI Developments From Apple This Year</a>

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Latest News for iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB)

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