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Nayuki Holdings Ltd is a premium modern teahouse chain in China serving freshly-made tea drinks. The group principally generates its revenue from the sales of freshly-made tea drinks, baked goods, and other products through its operating teahouses and online food delivery applications mainly in the PRC.

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Nayuki Holdings Ltd

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) billionaire, Michael Saylor celebrated the passage of a resolution in the Senate that overturned a contentious SEC decree.
What Happened: Saylor wrote on social platform X, "Wall Street wants Bitcoin, the House of Representatives wants Bitcoin, and now the Senate wants Bitcoin."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wall Street wants Bitcoin, the House of Representatives wants Bitcoin, and now the Senate wants <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. <a href="https://t.co/lLqBv2XZJy">pic.twitter.com/lLqBv2XZJy</a>
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1791150877891252260?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
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The staunch Bitcoin proponent was referring to the growing mainstreaming of the world's largest cryptocurrency, which, after getting listed as a spot ETF earlier this year, secured victories in the U.S. Congress.&nbsp;
Earlier in the day, the U.S. Senate followed the House<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it"> in repealing an SEC policy</a> that restricted regulated financial institutions from being custodians of Bitcoin&nbsp;
The legislation saw bipartisan support, with as many as 12 Democrats defying party lines to vote in favor.
Why It Matters: Michael Saylor is one of the most prominent Bitcoin whales today, and while details regarding his current holdings are unknown, experts believe he has gained more than the 17,732 Bitcoins he revealed in 2020. His firm, meanwhile, held 214,278 bitcoins by the end of the first quarter, worth more than $14 billion.
Saylor joined Reddit co-founder Alexis Ohanian <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38888214/reddit-co-founder-alexis-ohanian-highlights-democrats-including-chuck-schumer-who-crossed-">in cheering the crypto-friendly measure</a>. Ohanian amplified a post thanking the Democrats who defied the party line to vote in favor.
That said, the true test would begin now since President Joe Biden is firmly on the side of the SEC and has previously vowed to veto the resolution. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $65,686.55, retracing 0.5% in the last 24 hours. On Thursday, MicroStrategy shares ended the regular session 4.2% lower at $1,439.98 according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38877709/cme-group-eyes-bitcoin-trading-amid-surging-wall-street-demand">CME Group Eyes Bitcoin Trading Amid Surging Wall Street Demand</a>

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Michael Saylor Says Wall Street And Congress Want Bitcoin – But What About Joe Biden

Elon Musk&#8217;s&nbsp;Neuralink Corp.&nbsp;is now on the lookout for a second participant for its&nbsp;telepathy cybernetic brain implant trial, <a href="https://www.benzinga.com/news/24/05/38720669/elon-musk-touts-successful-100-days-of-first-neuralink-implant-even-as-company-admits-malfunction-th">following a minor setback</a> with the first participant.
What Happened: On Friday, Musk announced that the company is accepting applications for its telepathy program, which involves a brain implant that allows users to control electronic devices through thought.
The first participant, Noland Arbaugh,&nbsp;received his implant more than 100&nbsp;days ago at the Barrow&nbsp;Neurological Institute in Phoenix, Arizona.&nbsp;Despite a minor setback, the company&nbsp;is moving forward with the&nbsp;selection of a second participant.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38862733/openai-chief-scientist-that-quit-months-after-participating-in-coup-against-sam-altman-likely-to-joi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI Chief Scientist Who Quit Months After Helping Briefly Oust Sam Altman Likely To Join Elon Musk&#8217;s xAI, Says Munster: &#8216;There&#8217;s A 60% Chance&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Neuralink is accepting applications for the second participant. This is our Telepathy cybernetic brain implant that allows you to control your phone and computer just by thinking. No one better than Noland (<a href="https://twitter.com/ModdedQuad?ref_src=twsrc%5Etfw">@ModdedQuad</a>) himself to tell you about the first! <a href="https://t.co/k9DaZ3xr5g">https://t.co/k9DaZ3xr5g</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791332539220521079?ref_src=twsrc%5Etfw">May 17, 2024</a></blockquote>
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Arbaugh&#8217;s implant experienced a malfunction post-surgery, with some of the device&#8217;s threads retracting from his brain, affecting the device&#8217;s performance. The exact number of retracted threads has not been disclosed, raising concerns about the technology&#8217;s reliability and long-term effectiveness.
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: Previously, it was reported that Neuralink had known about the malfunctioning of the tiny wires in the brain implant for years. The problem was <a href="https://www.benzinga.com/news/24/05/38847624/elon-musks-neuralink-was-aware-of-brain-wire-issue-for-years-report">first identified during animal testing</a> conducted before the company&#8217;s approval for human trials last year, but the risk was deemed insufficient to require a redesign.
Earlier, Arbaugh also shared his extraordinary journey from paralysis to becoming a &#8220;celebrity cyborg.&#8221; Arbaugh was paralyzed in a diving accident and has become the most <a href="https://www.benzinga.com/news/24/05/38873201/elon-musks-neuralink-patient-noland-arbaugh-shares-his-journey-from-paralysis-to-cyborg-once-you-get">public recipient of the brain implant</a> built by Neuralink.
&#8220;Once you get a taste for using it, you just can&#8217;t stop. It blows my mind so much,&#8221; Arbaugh said, adding, &#8220;I bet the next person that gets this is going to feel exactly the same way as I do.&#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:&nbsp;<a href="https://www.benzinga.com/news/24/05/38849496/elon-musk-recalls-breaking-friendship-with-googles-larry-page-over-ilya-sutskever-linchpin-for-opena?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Recalls Breaking Friendship With Google&#8217;s Larry Page Over Ilya Sutskever: &#8216;Linchpin For OpenAI Being Successful&#8217;</a>
Disclaimer: 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.
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Elon Musk's Neuralink Seeks Second Participant For Brain Implant Trial, Says It 'Allows You To Control Your Phone And Computer Just By Thinking'

Shytoshi Kusama, the mysterious lead developer of the Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) project, lauded the work of the team instrumental in bringing the ecosystem's decentralized exchange ShibaSwap to the layer-2 network, Shibarium.&nbsp;
What Happened: In a post on social platform X, the pseudonymous personality, also believed to be the co-founder of Shiba Inu, wrote that he is proud of the efforts put in by the team in <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38870788/dogecoin-killer-shiba-inu-pumps-6-i-felt-underexposed-says-trader-who-sees-more-short-term">linking the two of the ecosystem's biggest platforms</a>. Kusama had a special word of appreciation for Kaal Dhairya, a key developer in the Shiba Inu ecosystem.
"So proud of the improvements and innovations @kaaldhairya and the team have made while bringing ShibaSwap to Shibarium."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So proud of the improvements and innovations <a href="https://twitter.com/kaaldhairya?ref_src=twsrc%5Etfw">@kaaldhairya</a> and the team have made while bringing <a href="https://twitter.com/hashtag/ShibaSwap?src=hash&amp;ref_src=twsrc%5Etfw">#ShibaSwap</a> to <a href="https://twitter.com/hashtag/Shibarium?src=hash&amp;ref_src=twsrc%5Etfw">#Shibarium</a>. So much more in store as we march forward. Stay tuned <a href="https://twitter.com/hashtag/SHIBARMY?src=hash&amp;ref_src=twsrc%5Etfw">#SHIBARMY</a>! <a href="https://t.co/FXM5k1eDeA">https://t.co/FXM5k1eDeA</a>
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1790793410212688129?ref_src=twsrc%5Etfw">May 15, 2024</a></blockquote>
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In what could be a signal of more such developments in the ecosystem, Kusama added, "So much more in store as we march forward. Stay tuned #SHIBARMY!"
Kaal Dhairya responded to Kusama's celebratory post and assured the SHIB community that new enhancements and updates would be shipped regularly going forward. "It's not a race it's a marathon," the developer remarked.
Why It Matters: ShibaSwap, which launched in July 2021, has been operating as a DEX on the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) blockchain, providing services such as staking, liquidity pools, and yield farming.
With the latest development, the DEX went multichain, allowing users to swap tokens across both chains, thereby managing liquidity in a much better way.&nbsp;
Shibaswap&#8217;s launch also provided a solid use case for Shibarium–a planned endeavor by Shiba Inu to rise above its memecoin image and add more value to the tokens associated with the ecosystem.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00002489, down 2.91% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38888214/reddit-co-founder-alexis-ohanian-highlights-democrats-including-chuck-schumer-who-crossed-">Reddit Co-Founder Alexis Ohanian Highlights Democrats, Including Chuck Schumer, Who Crossed Party Line To Support Pro-Crypto Law</a>
Image via CryptoFX on Shutterstock

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Shiba Inu's Lead Developer Shytoshi Kusama Lauds Team Behind ShibaSwap's Integration With Shibarium Network: 'So Much More In Store'

Three studies demonstrate how Philips MCOT wearable ambulatory monitoring ECG and proprietary AI&nbsp;models applied to ECG digital biomarkers can help to&nbsp;improve diagnosis, reduce readmissions, and lower costs

Philips Presents Study Results At Heart Rhythm Annual Meeting Showcasing Benefits Of Its AI-Powered Cardiac Monitoring Solution

Chinese EV maker XPeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) is now looking to hold its own AI Day next week after American EV giant Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) dropped holding the event due to <a href="https://www.benzinga.com/news/24/01/36774806/elon-musk-says-tesla-skipped-ai-day-2023-on-copycat-fears-but-might-bring-it-back-this-year-we-have">concerns about potential imitation.</a>
What Happened: XPeng&#8217;s AI day press conference live will start at 7:30 pm local time on May 20. The English replay of the event will be available from May 23, the company said.
AI Day was one of the events held by EV giant Tesla to provide updates on its AI initiatives. During Tesla&#8217;s last AI day in 2022, the company provided updates on its humanoid bot, its full self-driving (FSD) driver assistance software, and its dojo supercomputer. However, the company didn&#8217;t hold the event in 2023. 
During Tesla&#8217;s first-quarter earnings call in January, Musk claimed that competitors meticulously scrutinized Tesla's activities during AI Day and Battery Day, subsequently replicating them. "So we have to be a little cautious about revealing the exact recipe of the secret sauce," remarked the CEO.
Why It Matters: Despite the caution, Musk in January acknowledged the importance of providing some form of update and mentioned considering an event later this year after discussions with the team.&nbsp;
"Our main goal with these AI Day things is recruiting and to sort of change the perception of Tesla as people thinking of Tesla as a car company when they should be thinking of Tesla as an AI robotics company," Musk explained.
Like Tesla&#8217;s FSD, XPeng has its own <a href="https://www.benzinga.com/markets/asia/24/05/38547116/xpeng-boss-welcomes-teslas-fsd-china-entry-with-open-arms-sees-it-driving-entire-industry-forward">advanced driver assistance system</a> called NGP (Navigation Guided Pilot). It also has a Tesla Optimus rival in its<a href="https://www.benzinga.com/news/23/11/35613811/watch-xpengs-answer-to-teslas-optimus-bot-walks-across-obstacles-kicks-soccer-ball-and-can-drive-a-c"> bipedal robot PX5.</a> 
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:&nbsp;<a href="https://www.benzinga.com/news/24/05/38888664/teslas-new-model-3-performance-gets-second-1000-price-hike-retains-tax-credit-perk">Tesla&#8217;s New Model 3 Performance Gets Second $1000 Price Hike, Retains Tax Credit Perk</a>
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TSLA

XPEV

Chinese EV Maker XPeng To Hold AI Day Next Week As Tesla's Event Stands Canceled Over Copycat Concerns

The U.S. Justice Department has accused an American woman of being involved in a scheme that allegedly helped Kim Jong Un&#8216;s North Korea fund its nuclear weapons program. The scheme involved more than 300 U.S. companies hiring foreign nationals with North Korean connections for remote IT work, the department said.
What Happened: The Justice Department has brought to light a massive fraud scheme that allegedly helped North Korea finance its nuclear weapons program. The scheme involved over 300 U.S. companies hiring foreign nationals with ties to North Korea for remote IT work, <a href="https://www.wsj.com/politics/national-security/american-it-scammer-helped-north-korea-fund-nuclear-weapons-program-u-s-says-65430aa7?mod=lead_feature_below_a_pos1">reported</a> The Wall Street Journal.
The department alleges that the scheme, which has sent $6.8 million of revenue overseas, was orchestrated by an American citizen, an Arizona woman, and a Ukrainian man. The two have been arrested, while the authorities are searching for at least four other foreign co-conspirators.
The accused have been charged with conspiracy to commit wire fraud and identity theft, money laundering, and the unlawful employment of aliens. The federal government is offering a reward of up to $5 million for information related to the four alleged co-conspirators.
"North Korea has weaponized its tech talent and created the ultimate insider threat," said&nbsp;Michael Barnhart, an analyst at Google's Mandiant intelligence division. The IT scams "are providing a foothold into major organizations" for North Korea's hackers, he said.
See Also: <a href="https://www.benzinga.com/news/24/05/38833901/pete-buttigieg-left-speechless-after-airlines-sue-biden-administration-over-new-fees-regulations?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Pete Buttigieg Left &#8216;Speechless&#8217; After Airlines Sue Biden Administration Over New Fees Regulations</a>
Why It Matters: This news comes at a time when North Korea has been actively bolstering its military capabilities. The country&#8217;s leader, Kim Jong Un, recently oversaw the testing of a <a href="https://www.benzinga.com/news/24/05/38776689/kim-jong-un-intensifies-north-koreas-military-arsenal-tests-new-rocket-launch-system-report">new multiple rocket launch</a> system, reinforcing its arsenal aimed at South Korean population centers. This move is seen as an escalation of tensions in the region.
North Korea&#8217;s nuclear ambitions have been a <a href="https://www.benzinga.com/news/24/02/37278841/north-korean-missile-used-by-russia-in-ukraine-war-traced-to-us-companies-debris-reveals-report">cause for concern</a> for the international community. The country&#8217;s missile technology has even been linked to the ongoing conflict in Ukraine.
Meanwhile, Western nations are seeking a new entity to oversee North Korea's adherence to <a href="https://www.benzinga.com/news/24/05/38835478/western-nations-seek-a-new-watchful-eye-over-north-korea-despite-resistance-from-russia-china">international sanctions</a> after Russia vetoed a UN panel that overlooked the country. This development, has raised concerns about the enforcement of sanctions against North Korea.
Read Next: <a href="https://www.benzinga.com/news/24/05/38846223/elon-musk-fired-supercharger-chief-rebecca-tinucci-and-her-entire-team-after-she-refused-to-lay-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Fired Supercharger Chief Rebecca Tinucci And Her Entire Team After She Refused To Lay Off More Workers Than Planned: Report</a>
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Global

Kim Jong Un's North Korea Used American IT Scammer To Fund Nuclear Weapons Program: DOJ

Shareholders of Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) are set to vote on the board status of departing CEO Dave Calhoun, adding a twist to the company&#8217;s annual general meeting (AGM).
What Happened: The vote will take place on Friday, during an AGM where investors are anticipated to seek clarity on the future leadership of the aerospace manufacturer, Reuters reported. The company is currently grappling with a series of crises, including multiple investigations, potential prosecution for past actions, and a decline in production of its best-selling jet.
Former Qualcomm CEO Steve Mollenkopf, who is leading the search for Calhoun&#8217;s replacement, will make his debut as chairman at the virtual gathering. Calhoun announced his retirement as part of a management shakeup following a mid-air blowout on a new 737 MAX 9 in January.
Proxy advisor Glass Lewis has urged shareholders to vote against the reelection of Calhoun and two other directors to Boeing&#8217;s board, citing dissatisfaction with efforts to transform the company&#8217;s safety culture. Meanwhile, proxy advisor ISS has highlighted a misalignment between CEO pay and company performance.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38837557/faraday-future-basking-in-the-glory-of-gamestops-amc-heres-what-ev-makers-100-jump-in-pre-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Faraday Future Basking In The Glory Of GameStop, AMC? Here&#8217;s What EV Maker&#8217;s 100% Jump In Pre-Market Indi</a>
Investors are also eagerly awaiting updates on the selection of Calhoun&#8217;s successor. Management experts have suggested that the company needs to appoint a new leader by mid-year, as the current leadership lacks the credibility to implement significant changes.
Why It Matters: <a href="https://www.benzinga.com/markets/equities/24/05/38877745/boeing-stock-takes-off-after-us-aviation-bill-passes-but-possible-turbulence-ahead-with-legal-un">Boeing&#8217;s recent developments</a> include regulatory changes, potential legal challenges, and technical indicators that suggest a cautious outlook. The U.S. House of Representatives passed a comprehensive aviation bill aimed at improving air traffic controller staffing, enhancing runway safety and expediting refunds for canceled flights. This legislative push underscores the growing urgency to bolster aviation safety following a series of near-miss incidents and a mid-air emergency involving an Alaska Airlines Boeing 737 MAX 9.
Furthermore, <a href="https://www.benzinga.com/government/24/05/38855650/congress-exempts-boeing-767-freighter-from-2028-production-cutoff">Congress has exempted Boeing 767 Freighter</a> from a 2028 production cutoff, providing a bridge for the company in case express carriers need extra capacity. This exemption, however, could limit the operation of freighters produced between 2028 and 2033 to the domestic U.S. market.
Earlier this year, <a href="https://www.benzinga.com/news/large-cap/24/03/37911999/boeing-ceo-dave-calhoun-to-resign-in-2024-as-part-of-major-leadership-overhaul-eyes-of-the-world-a">Calhoun announced his resignation</a> as part of a comprehensive management overhaul as the company seeks to navigate through the 737 Max crisis. The transition in leadership and the upcoming vote on Calhoun&#8217;s board status are critical for the future of the company.
Price Action: On Thursday, Boeing stocks closed 3.44% higher at $183.08 while it was trading 0.16% lower in the after-market at $182.79, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38818809/meme-stock-surge-bothers-former-sec-chair-as-gamestop-amc-shares-rise-nearly-80-on-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meme Stock Surge &#8216;Bothers&#8217; Former SEC Chair As GameStop, AMC Shares Rise Nearly 80% On Tuesday: &#8216;A Lot Closer To Gambling…Certainly Not Investing&#8217;</a>
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Equities

Will Boeing's Outgoing CEO Dave Calhoun Retain His Board Status? Shareholders To Vote Today

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects RBC Bearings Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) to report quarterly earnings at $2.36 per share on revenue of $413.51 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. RBC Bearings shares fell 1% to $265.00 in after-hours trading.</li>
<li>Applied Materials Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) reported better-than-expected financial results for the second quarter on Thursday. The company said it sees third-quarter revenue of $6.65 billion, plus or minus $400 million, versus estimates of $6.576 billion. The company projects third-quarter adjusted earnings to be between $1.83 and $2.19 per share, versus estimates of $1.98 per share. Applied Materials shares slipped 1.2% to $211.51 in the after-hours trading session.</li>
<li>Analysts are expecting H World Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) to post quarterly earnings at 28 cents per share on revenue of $711.50 million. The company will release earnings before the markets open. H World Group shares rose 2.3% to $43.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Doximity Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) reported stronger-than-expected financial results for the fourth quarter on Thursday. The company said it expects first-quarter revenue to be between $119.5 million and $120.5 million versus estimates of $119.23 million. Doximity shares jumped 15.8% to $27.48 in the after-hours trading session.</li>
<li>Analysts expect RLX Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>) to post quarterly earnings at 2 cents per share on revenue of $74.11 million before the opening bell. RLX Technology shares rose 0.9% to $2.1698 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38872018/top-5-utilities-stocks-you-may-want-to-dump-in-may">Top 5 Utilities Stocks You May Want To Dump In May</a>

Earnings

Pre-Market Outlook

Trading Ideas

AMAT

DOCS

HTHT

Applied Materials, RBC Bearings And 3 Stocks To Watch Heading Into Friday

The CNN Money Fear and Greed index showed some decline in the overall market sentiment, but the index remained in the &#8220;Greed&#8221; zone on Thursday.
U.S. stocks settled lower on Thursday, after the Dow Jones index briefly surged above the 40,000 mark for the first time.
The Dow has surged around 6% this year, while the S&amp;P 500 gained about 11% in 2024.
On the economic data front, U.S. initial jobless claims declined by 10,000 to 222,000 in the week ending May 11, compared to market estimates of 220,000. U.S. industrial production came in little changed in April, compared to a 0.1% gain in March.
Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) reported upbeat second-quarter earnings, but lowered its net income 2024 outlook. Shares of Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) gained 7% during Thursday&#8217;s session following better-than-expected quarterly earnings.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, materials and industrials stocks recording the biggest losses on Thursday. However, consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 39 points to 39,869.38 on Thursday. The S&amp;P 500 fell 0.21% at 5,297.10, while the Nasdaq Composite slipped 0.26% at 16,698.32 during Thursday's session.
Investors are awaiting earnings results from H World Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>), RLX Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>), and RBC Bearings Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBC#NYSE">RBC</a>) today.
At a current reading of 60.3, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 61.6.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38871724/oklo-is-too-risky-jim-cramer-says-buy-this-general-electric-spinoff-instead">Oklo Is &#8216;Too Risky,&#8217; Jim Cramer Says: Buy This General Electric Spinoff Instead</a>

Investor Optimism Decreases Slightly After Economic Reports, US Stocks Settle Lower

Popular cryptocurrency trader and analyst Michaël van de Poppe raised his bullish bets on Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) after the coin outperformed the broader market with double-digit gains.&nbsp;
What Happened: Van de Poppe called LINK as the "opportunity of a lifetime" reacting to a notable development in the coin's ecosystem.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">That's why <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> is still an opportunity of a lifetime. <a href="https://t.co/q8INeBQAeM">https://t.co/q8INeBQAeM</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1791221684973805750?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
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Chainlink, the parent blockchain of the cryptocurrency, announced the successful completion of of pilot project in partnership with The Depository Trust and Clearing Corporation and several of the top U.S. banks to bring capital markets on blockchain rails and boost the asset tokenizing economy.
The pilot project tested how to disseminate mutual funds data to any private/public blockchain using Chainlink's interoperability feature.
Price Action: Reacting to the development, LINK surged more than 12% in the last 24 hours, trading at $15.68 at the time of publication, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Notably, LINK's large transaction volume jumped 141% in the past 24 hours on this announcement, according to IntoTheBlock. Additionally, balances of long-term holders increased 0.26%, signaling an intent to accumulate the cryptocurrency.&nbsp;
Why It Matters: For the curious, tokenization of real-world assets was emerging as the next big thing in blockchain technology, with the industry having $6.68 billion in total locked as of this writing, <a href="https://defillama.com/protocols/RWA">according </a>to DeFiLlama.
Think of it as simply the process of bringing off-chain assets like bonds, real estate, commodities, and much more onto blockchains,&nbsp; resulting in a variety of options for both traditional and decentralized finance.
Chainlink, acting as the bridge between off-chain and on-chain worlds, holds the key for narrative.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38888214/reddit-co-founder-alexis-ohanian-highlights-democrats-including-chuck-schumer-who-crossed-">Reddit Co-Founder Alexis Ohanian Highlights Democrats, Including Chuck Schumer, Who Crossed Party Line To Support Pro-Crypto Law</a>

$LINK

This Crypto, Pumping 12% On New Asset Tokenization Milestone, Is 'An Opportunity Of A Lifetime,' Says Analyst

Breakthrough DLL3-Targeting Therapy&nbsp;Regimen for a Major Solid Tumor
IMDELLTRA Demonstrated Impressive&nbsp;40%&nbsp;Objective Response Rate, 9.7 Month Median Duration of Response and 14.3 Month Median Overall Survival in Pivotal DeLLphi-301 Study
Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) today announced that the U.S. Food and Drug Administration (FDA) has approved IMDELLTRA&trade; (tarlatamab-dlle) for the treatment of adult patients with extensive-stage small cell lung cancer (ES-SCLC) with disease progression on or after platinum-based chemotherapy. IMDELLTRA has received accelerated approval based on the encouraging response rate and duration of response (DoR) observed in clinical studies.&nbsp;Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s).

AMGN

Reported Earlier, FDA Approves Amgen's IMDELLTRA (tarlatamab-dlle) The First And Only T-Cell Engager Therapy For The Treatment Of Extensive-Stage Small Cell Lung Cancer

A former diversity manager at Facebook and Nike has been sentenced to over five years in prison for orchestrating a multi-million dollar fraud scheme.
What Happened: Barbara Furlow-Smiles, a Georgia resident, was found guilty of wire fraud in December. She was charged with embezzling over $4.9 million from Facebook using a fraudulent vendor scheme, fake invoices, and cash kickbacks, <a href="https://www.cnbc.com/2024/05/16/facebook-nike-furlow-smile-prison-fraud.html">reported</a> CNBC on Thursday.
"After being terminated from Facebook, she brazenly continued the fraud as a DEI leader at Nike, where she stole another six-figure sum from their diversity program," Atlanta U.S. Attorney Ryan Buchanan&nbsp;said in a statement.
She used the stolen money to fund a luxurious lifestyle in California, Georgia, and Oregon. Furlow-Smiles, 38, was a lead strategist and global head of employee resource groups and diversity engagement at Facebook, a subsidiary of Meta Platforms Inc.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38807245/big-short-fame-investor-expects-elon-musks-tesla-shares-to-plunge-70-people-are-going-to-start-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Big Short&#8217; Fame Investor Expects Elon Musk&#8217;s Tesla Shares To Plunge 70%: &#8216;People Are Going To Start To Lose Patience&#8217;</a>
Prosecutors revealed that she linked PayPal, Venmo, and Cash App accounts to her Facebook credit cards and used them to pay her friends, relatives, and others for goods and services that were never delivered. The majority of the money was then kicked back to her.
She was sentenced on Monday in Atlanta federal court and ordered to pay restitution of $4.98 million to Facebook and another $121,000 to Nike.
Nike informed prosecutors that she was entrusted as a leader for the company and would embody the value of &#8216;Doing the Right Thing,&#8217; which is one of NIKE's key maxims, according to the prosecutor&#8217;s memo. 
Nike further explained that Ms. Furlow-Smiles violated their trust in a severe manner. The fraud she committed not only violated trust but also devastated the employees who managed and worked with her.
Meta&#8217;s spokesperson declined to comment and directed attention to the press release issued by prosecutors in the case, as per the report.
Why It Matters: The sentencing of Furlow-Smiles comes at a time when DEI initiatives have been a subject of intense debate. Billionaire investor Bill Ackman faced <a href="https://www.benzinga.com/news/24/05/38754804/billionaire-investor-bill-ackman-grilled-by-wall-street-executives-for-anti-dei-views-report">criticism from Wall Street executives</a> for his anti-DEI stance, which they deemed detrimental to the advancement of women and people of color in the U.S.
Meanwhile, business magnate Mark Cuban has argued that diversity within a company provides <a href="https://www.benzinga.com/news/24/01/36819134/mark-cuban-says-he-will-short-companies-who-think-diversity-is-negative-im-telling-you-what-i-think">a competitive edge</a>, challenging those who consider it a disadvantage. On the other hand, Elon Musk has criticized The Walt Disney Co. for its &#8220;DEI Gestapo&#8221; policies, attributing the perceived decline in the quality of <a href="https://www.benzinga.com/general/entertainment/24/02/37007023/elon-musk-calls-disney-dei-gestapo-after-memo-leak-no-wonder-most-of-their-content-has-suck">Disney&#8217;s recent content</a> to these policies.
Moreover, former presidential hopeful Vivek Ramaswamy has argued that the U.S. <a href="https://www.benzinga.com/news/23/12/36252316/bill-ackman-says-presidential-hopeful-vivek-ramaswamy-is-spot-on-that-us-inclusion-agenda-has-create">inclusion agenda</a> has created a new form of racism, gaining the approval of hedge-fund manager Bill Ackman.
Read Next: <a href="https://www.benzinga.com/news/24/05/38834200/marjorie-taylor-greene-slams-mike-johnson-for-observing-trump-hush-money-case-instead-of-defunding-j?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Slams Mike Johnson For Observing Trump Hush Money Case Instead Of &#8216;Defunding&#8217; Jack Smith — Faces Sharp Backlash From X Users</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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Management

Former Facebook, Nike DEI Manager Entrusted With 'Doing The Right Thing' Gets Over 5 Years In Prison For $5M Fraud

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has hiked the starting price on its <a href="https://www.benzinga.com/news/24/04/38401202/teslas-new-53k-model-3-performance-eligible-for-full-tax-credits-but-leasing-long-range-might-be-che">new Model 3 Performance</a> for the second time within a month of its launch in the U.S. market.
What Happened: The Model 3 Performance is now priced at $54,990 on Tesla&#8217;s website. The company launched the new variant less than a month ago, ahead of its first-quarter earnings on April 23, with a starting price of $52,990. 
Since then, the higher-end variant of <a href="https://www.benzinga.com/news/24/04/38474737/tesla-increases-price-of-model-3-performance-by-1k-in-us-days-after-launch">the mass-market sedan</a> has been given two successive $1,000 price hikes.
The Model 3 Performance, unlike the other two versions of Model 3, is eligible for a $7,500 federal EV tax credit, taking the effective price for eligible buyers down to $47,490, below even the Long Range version of the vehicle which starts at $47,740. 
However, to qualify for the tax credit, the vehicle&#8217;s price has to be under $55,000, meaning customers cannot opt for any paid exterior paint options. The stealth grey is the only paint option on the vehicle which comes included in the starting price of the vehicle. All others are priced an additional $1000- $2000.
Why It Matters: In January, Tesla introduced the&nbsp;<a href="https://www.benzinga.com/news/24/01/36570546/you-can-finally-order-teslas-new-model-3-in-america-heres-its-starting-price" target="_blank" rel="noreferrer noopener">updated Model 3</a>&nbsp;in the U.S., initially offering two variants: rear-wheel drive and long-range. The Performance variant was conspicuously absent from the listings. However, a company executive affirmed its forthcoming availability.
Price Action:&nbsp;Tesla stock closed 0.5% higher at $174.84 per share on Thursday, according to data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro.</a>&nbsp;The stock is down nearly 30% year-to-date.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:<a href="https://www.benzinga.com/news/24/05/38867184/amazon-google-funded-ev-startup-and-more-companies-scramble-to-snag-teslas-laid-off-employees"> Amazon, Google-Funded EV Startup And More Companies Scramble To Snag Tesla&#8217;s Laid-Off Employees</a>
Photo via Shutterstock

Tesla's New Model 3 Performance Gets Second $1000 Price Hike, Retains Tax Credit Perk

HUTCHMED (China) Limited (&quot;<a href="https://www.globenewswire.com/Tracker?data=_Oj9gujZ-p-rPgdAOt5n3roC0G6L2kHroYjQZXNgGcNJe-b3aacrb73ah5fAVuazuZxmSvqKr4bmPR63WCJ_Pg==" target="_blank">HUTCHMED</a>&quot;) (Nasdaq/AIM:HCM; HKEX:13) today announces that topline and subgroup results from the ESLIM-01 Phase III study of sovleplenib, as well as new and updated data related to novel investigational hematological malignancy therapies HMPL-306, HMPL-760 and tazemetostat, will be presented at the upcoming European Hematology Association (&quot;EHA&quot;) Hybrid Congress, taking place on June 13-16, 2024 in Madrid, Spain and online.

Reported Earlier, HUTCHMED To Present Sovleplenib Phase III ESLIM-01 Study And Hematological Malignancy Programs Data At The Upcoming EHA2024 Congress

Erasca intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities, to fund the research and development of its product candidates and other development programs and for working capital and other general corporate purposes.

ERAS

Reported Earlier, Erasca Prices Underwritten Offering Of 86,486,486 Common Stock At $1.85/Share

The units will be listed on the Nasdaq Global Market (&quot;Nasdaq&quot;) and trade under the ticker symbol &quot;RFAIU&quot; beginning on May 17, 2024. Each unit consists of one ordinary share, par value $0.0001 per share, of the Company (&quot;ordinary share&quot;), and one right to receive one-twentieth of one ordinary share. After the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols &quot;RFAI&quot; and &quot;RFAIR,&quot; respectively. The offering is expected to close on May 21, 2024, subject to customary closing conditions.

RFAI

RFAIU

Reported Earlier, RF Acquisition Corp II Prices $100M Initial Public Offering Of 10M Units At $10/Unit

Pan-RAS molecular glue ERAS-0015 and pan-KRAS inhibitor ERAS-4001 are potent, oral inhibitors with potential best-in-class profiles in RASm solid tumors 
Pipeline prioritization and workforce restructuring&nbsp;sharpens focus on programs targeting the highest unmet needs and with highest probability of success
Priced concurrent&nbsp;$160 million&nbsp;equity offering

Reported Earlier, Erasca Entered Into Exclusive License Agreements For Two Preclinical RAS Programs

In April, China&#8217;s retail sales growth decelerated while industrial activity remained robust, according to <a href="https://www.stats.gov.cn/english/PressRelease/202405/t20240517_1955749.html">data</a> released on Friday by the National Bureau of Statistics.
What Happened: Retail sales in April increased by 2.3% year-over-year, falling short of the 3.8% forecasted by a Reuters poll. This growth was also slower than the 3.1% reported in March.
On the other hand, industrial production surged by 6.7% in April, surpassing the anticipated 5.5% growth and marking a significant increase from the 4.5% in March.
Fixed asset investment for the first four months of the year rose by 4.2%, lower than the expected 4.6% increase. Real estate investment, however, saw a steeper decline, down by 9.8% year-on-year for the first four months of 2024.
Despite the overall slowdown, retail sales grew by 6.8% year-on-year during a recent holiday period from Apr. 29 to May 3, according to China&#8217;s Ministry of Commerce.
Alibaba Group Holding Limited is trading at HK$ 85.15 on the Hong Kong Stock Exchange, marking a 6.84% increase. JD.com, Inc. is trading at HK$ 132.90, with a slight rise of 0.38%. Additionally, PDD Holdings Inc. is trading at HK$ 143.38, also up by 0.36% after the data release.
Meanwhile, key China-focused ETFs such as KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>), KraneShares Bosera MSCI China A 50 Connect Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBA#NYSE">KBA</a>), iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>), and iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>) have outperformed <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38738819/the-dragon-awakens-kraneshares-cio-names-5-reasons-to-invest-in-chinas-stock-market">major U.S.-equity ETFs</a>, signaling a potential shift in the market landscape.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38809034/china-urges-tech-giants-to-shift-away-from-nvidia-and-other-foreign-chip-makers-boost-domestic-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China Urges Tech Giants To Shift Away From Nvidia And Other Foreign Chip Makers, Boost Domestic AI Chip Purchases: Report</a>
Why It Matters: The recent data release indicates a mixed picture for China&#8217;s economic growth. The slowdown in retail sales growth could be attributed to the cooling real estate market and the impact of the May 1 Labor Day holiday.
Despite these challenges, China&#8217;s economy is showing resilience. The country&#8217;s official GDP grew by 5.3% in the first quarter of 2024, surpassing expectations. This growth was attributed to the stabilization of <a href="https://www.benzinga.com/markets/asia/24/04/38135895/chinas-economy-expected-to-surge-5-3-this-year-fueled-by-property-sector-stabilization-and-regional">the property sector</a> and improving external demand, as forecasted by the ASEAN+3 Macroeconomic Research Office.
Despite the economic growth, Chinese exporters are facing a host of challenges, including a <a href="https://www.benzinga.com/news/24/04/38291189/chinese-exporters-grapple-with-challenges-despite-chinas-economic-growth-were-selling-electrical-app">decline in exports</a> in dollar terms and a drop in producer prices.
Amid these challenges, JPMorgan&#8217;s Jamie Dimon has urged for <a href="https://www.benzinga.com/news/24/05/38838705/jpmorgans-jamie-dimon-urges-full-engagement-with-china-amid-bidens-new-tariffs-but-says-america-has">full engagement with China</a>, emphasizing the need for a nuanced approach to the country.
Read Next: <a href="https://www.benzinga.com/general/hedge-funds/24/05/38881300/david-tepper-bullish-on-china-alibaba-now-no-1-holding-trimmed-stakes-in-nvidia-microsoft-ama?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">David Tepper Bullish On China: Alibaba Now No. 1 Holding, Trimmed Stakes In Nvidia, Microsoft, Amazon, Meta, Google</a>
Image Via Shutterstock
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Retail Sales

Economics

KWEB

MCHI

Warning For Chinese Economy? Shoppers Fail To Keep Pace With Factory Output

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4166075-1&amp;h=4071492016&amp;u=http%3A%2F%2Fwww.sap.com%2F&amp;a=SAP+SE" target="_blank">SAP SE</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) today announced NEC Corporation (TSE: 6701 &quot;NEC&quot;) has selected SAP S/4HANA Cloud through the RISE with SAP solution, running on Amazon Web Services (AWS). Together with implementation partner ABeam Consulting, the migration will leverage NEC&#39;s generative AI technology and SAP&#39;s natural language, generative AI Joule copilot.

Reported Earlier, Japan's NEC Leverages RISE With SAP And AI To Build Business AI In Move To The Cloud

The acquisition will add approximately 1,000 cloud and other digital experts to Accenture&#39;s cloud and digital engineering and manufacturing teams. They will strengthen Accenture&#39;s capabilities to support clients in system and application modernization and help them adopt cloud, data, AI and IoT technologies. They will also enhance Accenture&#39;s business by bringing a strong client portfolio and automation solutions for the entire product value chain, from procurement and manufacturing processes to logistics and after-sales service

Reported Earlier, Accenture To Acquire OPENSTREAM HOLDINGS, Strengthening Its Cloud, AI, Smart Logistics, Retail And Manufacturing Capabilities; Terms Not Disclosed

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Latest News for Nayuki Holdings Stock (OTC:NYKHF)

Friday, April 19, 2024

Wednesday, March 09, 2022