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Tech billionaire <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk's</a> social media platform, X, formerly Twitter, is testing a major design overhaul in recent history, offering a new way to like and repost.
What Happened: Christopher Stanley, X's senior director of security engineering posted a video of an upcoming major overhaul of the social media app that tries to pack more posts on the screen.
The video shows off an "exploding" video game-like interface that hides menu actions like Repost, Like, Reply, Share, and Bookmark behind a long-press action.
These action buttons are currently visible under each post, eating up space. The new design hides them and allows X to display more posts on the screen.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Do you like exploding menu's? <a href="https://t.co/Ui2uiNQYMN">pic.twitter.com/Ui2uiNQYMN</a>
&mdash; Christopher Stanley (@cstanley) <a href="https://twitter.com/cstanley/status/1784636062767141339?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
X is also testing an easier way to reply to posts, with a right-to-left swipe gesture. This is more commonplace and can be found in other social media apps as well.
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.
However, there's one downside to this – the number of replies, reposts, likes and bookmarks get hidden, too, taking away useful information that is currently visible for each post.
Why It Matters: Although X has undergone several changes since Musk acquired it in 2022, its design has remained the same for the most part. There have been several under-the-hood changes, especially after the launch of the <a href="https://www.benzinga.com/news/23/02/30759902/elon-musks-twitter-2-0-subscriber-count-will-surprise-you-its-way-less-than-you-think">"X Premium" subscriptions</a> and <a href="https://www.benzinga.com/news/24/04/38474861/elon-musk-says-ad-revenue-sharing-will-be-paused-for-some-x-creators-over-pending-investigation-into">ad revenue sharing program</a>.
Earlier this month, <a href="https://www.benzinga.com/news/24/04/38195904/elon-musk-finally-appears-to-be-taking-clickbait-and-irrelevant-replies-on-twitter-seriously-x-algor">Musk announced</a> that an X algorithm update is "coming soon" to deal with the increase in clickbait and spam on the social media platform.
Check out more of Benzinga&#8217;s Future Of Consumer Tech 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/24/04/38460718/elon-musk-weighs-in-after-x-user-says-banning-tiktok-sets-a-precedent-that-government-can-ban-any-ap" target="_blank" rel="noreferrer noopener">Elon Musk Weighs In After X User Says ‘Banning TikTok Sets A Precedent That Government Can Ban Any App…'</a>
Photo courtesy: Shutterstock

Social Media

Tech

'Do You Like Exploding Menus?' Elon Musk's X Testing A New Video Game-Like Interface For Likes, Reposts And More

U.S. Secretary of State Antony Blinken has landed in Saudi Arabia to initiate discussions on the governance of Gaza post the Israel-Hamas conflict.
Why It Matters: Blinken&#8217;s visit to Saudi Arabia is part of a broader Middle East tour to address the Gaza governance, Reuters reported. 
He is expected to meet with senior Saudi leaders and counterparts from Qatar, Egypt, the United Arab Emirates, and Jordan to deliberate on the future governance of Gaza after the conflict.
The discussions will also involve European states and their potential role in the reconstruction of Gaza, which has been severely impacted by the six-month-long Israeli bombardment.
During his visit, Blinken will also address the potential for a normalization deal between Saudi Arabia and Israel, which would include U.S. agreements on bilateral defense, security commitments, and nuclear cooperation.
&#8220;(Blinken) will discuss the recent increase in humanitarian assistance being delivered to Gaza and underscore the importance of ensuring that increase is sustained,&#8221; the U.S. State Department said in a statement on Sunday announcing the expansion of the trip.
See Also: <a href="https://www.benzinga.com/news/24/04/38478689/amid-latest-indictments-former-trump-aide-slams-ex-president-over-treatment-of-bodies-around-him-he?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of &#8216;Bodies Around Him&#8217;: &#8216;He Takes Out Everybody Who Is Loyal To Him&#8217;</a> 
What Happened: The U.S. has been actively involved in the Israel-Hamas conflict, with President Joe Biden urging Israeli Prime Minister Benjamin Netanyahu to take steps to improve the dire humanitarian situation in Gaza. The U.S. has also been working on a structure for Gaza&#8217;s future governance, which would involve a reformed Palestinian Authority with support from Arab states.
These discussions come amid escalating tensions and protests in the U.S. over the Israel-Hamas conflict. Hundreds of students have been arrested in nationwide protests, with demands for universities to <a href="https://www.benzinga.com/news/24/04/38446778/students-demand-universities-sell-off-israel-related-stocks-hundreds-arrested-in-nationwide-protests">sell off Israel-related stocks</a> as a way to stop investing in what they term genocide.
Meanwhile, Israel is gearing up for a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38411689/israel-gears-up-for-military-strike-in-rafah-despite-bidens-warning">significant military operation in Rafah</a>, despite warnings from the Biden administration. This operation aims to evacuate Palestinian civilians and target the last Hamas stronghold.
Amid these developments, China&#8217;s major banks have reportedly <a href="https://www.benzinga.com/markets/asia/24/04/38481364/chinas-big-banks-halt-russia-transactions-over-us-sanctions-forcing-firms-to-resort-to-underground-c">halted transactions related to Russia</a>, due to concerns over U.S. sanctions. This has led to a surge in the use of alternative channels for payments, including cryptocurrency, by Chinese companies conducting business with Russia.
Read Next: <a href="https://www.benzinga.com/news/24/04/38479283/ex-trump-aide-says-melania-trump-not-happy-with-latest-revelations-in-hush-money-trial?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ex-Trump Aide Says Melania Trump &#8216;Not Happy&#8217; With Latest Revelations In Hush-Money Trial</a>
Image Via Shutterstock 
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Politics

Global

US State Secretary Antony Blinken Arrives In Saudi Arabia To Discuss Gaza Governance After Israel-Hamas Conflict

&nbsp;InterDigital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDCC#NASDAQ">IDCC</a>), a mobile, video and AI technology research and development company, announced the election of Doug Castor, InterDigital&#39;s Head of Wireless Research, to serve as co-chair of the ATIS Next G Alliance (NGA) Steering Group.

IDCC

InterDigital Tapped Doug Castor, its Head of Wireless Research as Co-Chair of the ATIS Next G Alliance Steering Group

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paysafe.com%2Fus-en%2F&amp;esheet=53958724&amp;newsitemid=20240429561344&amp;lan=en-US&amp;anchor=Paysafe&amp;index=1&amp;md5=83a95aba19a5eace11c08aac6afe3bfc">Paysafe</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSFE#NYSE">PSFE</a>), a leading payments platform, today launched&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.paysafe.com%2Fen%2Fpay-by-bank%2F&amp;esheet=53958724&amp;newsitemid=20240429561344&amp;lan=en-US&amp;anchor=Pay+by+Bank&amp;index=2&amp;md5=229fb7d661f84c8b1487278757f3fb5a">Pay by Bank</a>&nbsp;for iGaming, a new solution allowing U.S. online bettors to instantly and securely fund deposits at operators&#39; cashiers directly from their online bank account as well as cash-out winnings seamlessly. This product expands the capabilities of Paysafe&#39;s Gateway, the iGaming payments solution that connects U.S. operators to the market&#39;s most comprehensive range of traditional and alternative payment methods via a single integration.

PSFE

Paysafe Strengthens US iGaming Solution with Pay by Bank Launch

IONR

Trading Halt: Halted at 3:58:44 a.m. ET - Trading Halt: Halt News Pending

In the latest development in the ongoing conflict in eastern Ukraine, the country&#8217;s top commander, Colonel General Oleksandr Syrskyi, has reported a worsening situation with Ukrainian troops falling back to new positions.
What Happened: Syrskyi revealed that Ukrainian troops have retreated west of three villages where Russian forces have amassed in significant numbers, Reuters reported on Monday. The areas west of Maryinka and northwest of Avdiivka, a town seized by Russian forces in February, are described as the &#8220;most difficult.&#8221;
Meanwhile, Ukraine&#8217;s President Volodymyr Zelenskyy has urged international partners to expedite arms deliveries to help maintain positions and disrupt Russian plans. He emphasized the need for Patriot systems in a conversation with U.S. House Minority Leader Hakeem Jeffries.
See Also: <a href="https://www.benzinga.com/news/24/04/38477150/biden-vs-trump-contest-could-be-lost-cause-for-one-candidate-if-history-were-anything-to-go-by-accor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump Contest Could Be Lost Cause For One Candidate If History Were Anything To Go By, According To Pollster</a>
Furthermore, Syrskyi stated that fresh Ukrainian brigades are being rotated in areas that have suffered losses. However, he did not comment on the status of Novobakhmutivka, a village near Berdychi, which Russia&#8217;s defense ministry claimed to have captured on Sunday.
Ukraine is currently awaiting a shipment of U.S. military aid, which officials deem crucial for resisting Russia&#8217;s two-year-old invasion. A Ukrainian intelligence source informed Reuters that Russia has been targeting Ukrainian rail lines with airstrikes to disrupt the delivery of U.S. weapons and complicate military logistics.
Why It Matters: This escalation follows a <a href="https://www.benzinga.com/news/24/04/38425222/russian-missile-strike-in-ukraine-injures-six-damages-civilian-infrastructure">Russian missile strike</a> that injured six and caused severe damage to civilian and railway infrastructure in Ukraine&#8217;s Cherkasy region last Thursday. The attack was carried out using an Iskander-K missile and resulted in damage to 47 private residences, according to Ukrainian Air Force spokesperson Illya Yevlash.
Meanwhile, the U.S. Congress has approved a comprehensive <a href="https://www.benzinga.com/news/24/04/38395838/us-congress-finally-passes-95b-foreign-aid-bill-for-ukraine-israel-taiwan-amid-simmering-russian-agg">$95 billion foreign aid package</a> for Ukraine, Israel, and Taiwan, in a move to counter Russia&#8217;s ongoing invasion of Ukraine. The package includes a $61 billion allocation for Ukraine, $26 billion for Israel, and humanitarian aid for civilians in conflict zones globally.
Read Next: <a href="https://www.benzinga.com/news/24/04/38454052/just-shocked-doj-veteran-says-potential-scotus-suprise-over-trumps-immunity-claim-shows-how-inured-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Just Shocked:&#8217; DOJ Veteran Says Potential SCOTUS Suprise Over Trump&#8217;s Immunity Claim Shows &#8216;How Inured We Are To Sort Of Trumpism Overtaking What This Country Is Supposed To Stand For&#8217;</a>
Photo courtesy: The Presidential Office of Ukraine
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Ukrainian Troops Retreat As Conflict With Russia Intensifies In Eastern Front, Zelenskyy Urges US For Swift Arms Deliveries

Analysts react to Japan&#8217;s newly announced plans with the U.S. to send an astronaut to the moon in a move to outpace China in the space race.
What Happened: President Joe Biden and Prime Minister Fumio Kishida have recently disclosed Japan&#8217;s collaboration with the U.S. to launch an astronaut to the moon by 2028, and another by 2032, South China Morning Post <a href="https://www.scmp.com/week-asia/politics/article/3260599/japan-aims-put-man-moon-ahead-china-it-partners-us-apollo-programme-steroids?module=top_story&amp;pgtype=homepage">reported</a> on Monday. This strategic move is seen as an attempt to thwart China from claiming a significant triumph in space exploration.
&#8220;Beijing is likely to perceive this as a direct challenge,&#8221; stated Lance Gatling, president of Nexial Research and an aerospace and defence analyst.
China has been ramping up its efforts for future lunar missions, with plans to dispatch an unmanned lunar probe to the moon&#8217;s far side as early as next month, and astronauts by 2030.
See Also: <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tucker Carlson Saying There&#8217;s &#8216;Ton Of Evidence&#8217; That Aliens Live Among Us: &#8216;With 6000 Satellites Orbiting Earth, I Think I Would Know&#8217;</a>
The joint Japan-U.S. initiative is part of the Artemis lunar exploration programme, which aims to lay the groundwork for future space exploration. Japan has committed to developing and maintaining a pressurised lunar rover&#8217;s operations, while the U.S. will offer flight opportunities and astronaut training.
&#8220;They are acutely aware that they are in competition with China in moon exploration, so this is essentially the Apollo programme on steroids,&#8221; commented Kazuto Suzuki, a professor of science and technology policy at Tokyo University.
Why It Matters: This move follows Kishida&#8217;s push for<a href="https://www.benzinga.com/news/24/04/38177846/pm-fumio-kishida-urges-us-tech-giants-to-invest-in-japan-im-strongly-promoting-policies-toward-the-n"> increased technology investments</a> in Japan. His appeal to American business leaders for greater investment in Japan&#8217;s technology sector suggests a strategic focus on strengthening Japan&#8217;s position in the global tech and space industries.
Moreover, the reliance on <a href="https://www.benzinga.com/general/24/04/38355446/elon-musk-is-the-only-person-able-to-get-us-astronauts-to-orbit-nasa-can-no-longer-do-it-boeing-cant">private companies for space exploration</a> has been increasingly evident. The article noted that Elon Musk is currently the only individual capable of launching US astronauts into orbit, a task that neither NASA nor Boeing Co. can accomplish. This underscores the importance of international cooperation and private sector involvement in advancing space exploration.
Read Next: <a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Photo by Alec Issigonis on Shutterstock
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SPACE

'Apollo Programme On Steroids:' Analysts Weigh On New US-Japan Lunar Mission To Outshine China

Former President Donald Trump has repeatedly asserted that the world was a more peaceful place during his tenure. However, his own national security advisers have a different take on the matter.
What Happened: The Wall Street Journal article <a href="https://www.wsj.com/politics/national-security/stress-testing-trumps-claims-that-the-world-was-calmer-on-his-watch-c01c43a7">highlights</a> that during Trump&#8217;s presidency, the world witnessed several conflicts and near-crises, including Iran&#8217;s attacks on U.S. personnel in the Middle East and Russia&#8217;s aggressive actions against the U.S. and its allies.
"It would not have happened if I were in office," Trump said in Schnecksville, "Today we are considered a joke. It's not going to be for long, believe me."
Trump&#8217;s approach to these conflicts was often more cautious than his public statements suggested. He was hesitant to respond to Iran&#8217;s attacks and carried out limited strikes in the Middle East. 
Despite Trump&#8217;s claims, his policies in the Middle East, Afghanistan, and Russia are believed to have contributed to the overseas challenges faced by President Joe Biden.
Trump&#8217;s decision to withdraw from the Iran nuclear agreement in 2018 escalated tensions in the region. Despite initial approval for attacks on Iranian targets, the strikes were called off, and Iran retaliated by firing on a base in Iraq, injuring over 100 U.S. troops. Trump&#8217;s handling of the Gaza crisis has also been criticized, with some attributing the crisis to his policies.
"His view was generally that war is terrible for the economy, it's terrible for business, and any time there is widespread violence, it has a negative effect on what he cares about, which is prosperity and growth," a former senior Trump national-security adviser said.&nbsp;
See Also: <a href="https://www.benzinga.com/news/24/04/38477150/biden-vs-trump-contest-could-be-lost-cause-for-one-candidate-if-history-were-anything-to-go-by-accor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump Contest Could Be Lost Cause For One Candidate If History Were Anything To Go By, According To Pollster</a>
Trump initially praised Biden&#8217;s decision to withdraw U.S. forces from Afghanistan in August 2021. However, he later criticized Biden for abandoning the Bagram air base, calling the withdrawal a &#8220;surrender.&#8221; Biden officials countered, attributing the withdrawal to a Trump-era deal with the Taliban.
Trump&#8217;s handling of the Ukraine-Russia conflict has also been a point of contention, with some experts suggesting that Russian President Vladimir Putin may have been planning the invasion for several years.
"Putin may have been thinking, ‘Well, look, I'll wait until the 2020 election is over before I make a move on Ukraine. If it's Trump, then it means one thing; if it's Biden, it may mean something else,'" John Bolton, who served as one of Trump's White House national-security advisers said.
During Trump&#8217;s presidency, North Korea advanced its nuclear missile capabilities. Trump&#8217;s &#8220;fire and fury&#8221; threat in August 2017 marked a peak in tensions, with Pyongyang responding by threatening Guam. Despite later diplomatic efforts, North Korea persisted in its missile program.
Why It Matters: Trump&#8217;s foreign policy and its impact on global stability have been a subject of intense debate. His handling of international conflicts and relations has continued to be a point of contention, with his own national security advisers offering a different perspective on the situation.
Trump&#8217;s stance on international affairs has also been a significant factor in the ongoing Ukraine-Russia conflict. In a recent poll, <a href="https://www.benzinga.com/news/24/04/38242705/president-biden-or-trump-or-journalists-new-poll-reveals-who-republicans-trust-more-for-ukraine-russ">Republicans showed a strong preference for Trump</a> as their primary source of information on the conflict, over journalists and other government sources.
Trump&#8217;s potential return to the White House has also been a cause for concern, with a war game simulation predicting a grim outcome for Taiwan if tensions rise with China during a hypothetical <a href="https://www.benzinga.com/news/24/01/36818930/trumps-return-to-white-house-could-spell-disaster-for-taipei-warns-war-game-simulation-taiwan-was-to">return to the White House</a> for Trump in 2025.
Read Next: <a href="https://www.benzinga.com/news/24/04/38480519/trump-vs-biden-new-poll-reveals-shift-in-2024-race-as-public-divided-on-presidents-legacies?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Biden: New Poll Reveals Shift In 2024 Race As Public Divided On Presidents&#8217; Legacies</a>
Image Via Shutterstock 
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 Kaustubh Bagalkote</a> 
 
 
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Was The World Really Peaceful During Donald Trump's Era? Analysis Reveals Complex Layers

OpenAI CEO Sam Altman appears to have been impressed with a user's observation on how elevator pitches are similar to Large Language Models or LLMs.&nbsp;
What Happened: Over the weekend, Altman took to X, formerly Twitter, and shared his opinion on the skill to be able to communicate most concisely. &#8220;Learning how to say something in 30 seconds that takes most people 5 minutes is a big unlock,&#8221; he said. 
This mode of relaying information is somewhat similar to &#8220;elevator pitches,&#8221; a term that is used to describe a &#8220;brief (think 30 seconds!) way of introducing yourself, getting across a key point or two, and making a connection with someone,&#8221; according to the Princeton University. 
See Also: <a href="https://www.benzinga.com/news/24/03/37557430/who-was-behind-sam-altmans-ouster-from-openai-new-reports-sheds-a-light-on-key-executives-role">Who Was Behind Sam Altman&#8217;s Ouster From OpenAI? New Reports Sheds A Light On Key Executives&#8217; Role</a>
Altman went on to suggest that learning this skill can be incredibly easy. &#8220;Consider asking a friend who is good at it to listen to you say something and then rephrase it back to you as concisely as they can a few dozen times. i have seen this work really well!),&#8221; he said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">(and imo a surprisingly learnable skill. if you struggle with this, consider asking a friend who is good at it to listen to you say something and then rephrase it back to you as concisely as they can a few dozen times. i have seen this work really well!)
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1784605138088529921?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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He later shared a DM sent by a user who drew a parallel between elevator pitches and LLMs saying, &#8220;Interesting DM: &#8216;For what it&#8217;s worth this is basically how LLMs work.'&#8221;
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.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">interesting DM: &quot;For what it&#39;s worth this is basically how LLMs work.&quot; <a href="https://t.co/WN7Oc1CM9F">https://t.co/WN7Oc1CM9F</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1784643737525837935?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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Why It's Important:&nbsp;LLMs like OpenAI AI-powered chatbot GPT 3.5 and GPT-4, Google Gemini and Meta&#8217;s Llama are known for their ability to condense information and generate responses. These models can present ideas, summarize concepts and provide insights, in a manner that emulates elevator pitches. 
However, it is important to mention, that AI-powered chatbots are <a href="https://www.benzinga.com/news/24/03/37559453/godfather-of-ai-explains-why-chatgpt-copilot-and-other-ai-chatbots-hallucinate">also known to hallucinate</a>, make up convincing lies and pass them on as facts. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38421912/openais-sam-altman-invests-20m-in-startup-using-solar-power-to-address-ais-massive-energy-appetite">OpenAI&#8217;s Sam Altman Invests $20M In Startup Using Solar Power To Address AI&#8217;s Massive Energy Appetite</a>
Photo via Shutterstock

Your 30-Second Elevator Pitch Skills Mirror AI Power? OpenAI CEO Sam Altman Seems To Agree 'This Is Basically How LLMs Work'

&nbsp;<a href="https://www.globenewswire.com/Tracker?data=0fkl-rVd7PAt60PvMgEGg7ga4pXB20MCz6Sq0c2jXEHp787uvIXyNkz7m5WJ2T1rbZ6EX7kE2l3atofVnXsjGQ==" target="_blank">GXO Logistics, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXO#NYSE">GXO</a>), the world&#39;s largest pure-play contract logistics provider, announced that, effective today, it has completed its acquisition of Wincanton plc. All conditions of the acquisition have been met and GXO is now the sole shareholder of Wincanton. On May 13, 2024, Wincanton shareholders will be sent consideration of 605 pence for each Wincanton share held by those shareholders at the scheme record time (6:00 p.m. BST on 26 April 2024), excluding shares held by or on behalf of GXO or held in treasury. As is customary, GXO and Wincanton will continue to be run independently until the U.K. Competition and Markets Authority (CMA) has completed its review.

GXO Logistics Completes Acquisition of Wincanton, Financial Terms Undisclosed

Chinese battery giant CATL&#8216;s chairman Robin Zeng on Monday reportedly visited the hotel in Beijing where Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk is staying on his visit to China. 
What Happened: Zeng visited Musk&#8217;s hotel in Beijing on Monday, Reuters reported, citing witnesses. The witnesses saw Zeng exit an elevator in the lobby of Musk&#8217;s hotel where he was greeted by senior Tesla China executives Tom Zhu and Grace Tao. The news agency was unable to confirm if Zeng met with Musk. CATL is an important battery supplier for Tesla. 
Musk arrived in the country on Sunday and met with Chinese Premier Li Qiang and the organizer of the ongoing Beijing Auto Show.
The visit has sparked speculation about the deployment of the company&#8217;s full self-driving (FSD) driver assistance software in the country. The software, which Tesla touts to be capable of enabling autonomous driving in due time, currently requires active supervision. 
Why It Matters: Earlier today, it was reported that Tesla has <a href="https://www.benzinga.com/markets/asia/24/04/38481213/breaking-tesla-reportedly-teams-up-with-baidu-to-roll-out-fsd-in-china">partnered with Beijing-based internet company Baidu Inc</a> for lane-level mapping and navigation data for China, crucial to deploying FSD in the country. 
Musk has&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" target="_blank" rel="noreferrer noopener">emphasized the importance</a>&nbsp;of FSD for Tesla's future value, stating last week, &#8220;If somebody doesn&#8217;t believe Tesla is going to solve autonomy, I think they should not be an investor in the company.&#8221; 
Earlier this month, he also hinted that the company will make FSD available to customers in China. &#8220;It may be possible very soon,&#8221; Musk wrote in response to a query from a vehicle owner in the East Asian country. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It may be possible very soon
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781558948144820578?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
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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 More:&nbsp;<a href="https://www.benzinga.com/markets/asia/24/04/38481213/breaking-tesla-reportedly-teams-up-with-baidu-to-roll-out-fsd-in-china">Musk&#8217;s China Mission Pays Off? Tesla Reportedly Inks FSD Deal With Internet Giant Baidu</a>
Photo by monticello on Shutterstock

Media

TSLA

Did Tesla Seal Another Deal? Battery Giant CATL's Chairman Seen Visiting Elon Musk's Beijing Hotel

<ul>
<li>Daiichi Sankyo and AstraZeneca&#39;s ENHERTU also demonstrated a clinically meaningful progression-free survival improvement in patients with HER2 ultralow expression</li>
<li>Plans for global regulatory submissions are underway</li>
</ul>

DSKYF

Daiichi Sankyo And AstraZeneca's Shows Statistically Significant And Clinically Meaningful Improvement In HR+, HER2 Low Breast Cancer: DESTINY-Breast06 Trial Results

In a surprising turn of events, venture capital firm General Catalyst, an early investor of companies like Snap Inc., Stripe and Mistral, is on the brink of raising nearly $6 billion for tech start-up investments, despite the current fundraising drought in the sector.
What Happened: General Catalyst could finalize its latest fund as early as next month, Financial Times <a href="https://www.ft.com/content/17c03819-4566-4fd2-b0b4-45f5677d8749">reported</a> on Sunday. The firm plans to utilize the new funds to invest in various sectors including defense, space, climate, fintech, and healthcare in the U.S., Europe, and India.
This significant investment indicates that institutional investors, endowments, and foundations, also known as limited partners, are still willing to support well-known firms even amid a broader fundraising crunch.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Voters Reveal Whether They Feel Donald Trump Is Receiving Fair Treatment In Court In Latest Poll — What That Means For Former President&#8217;s Election Chances</a>
Under the leadership of Hemant Taneja, who took over in 2021, General Catalyst has been focusing on &#8220;responsible innovation&#8221; and fostering closer ties with policymakers and regulators, particularly in the field of artificial intelligence.
The current scenario has created a two-tier market, where new entrants find it challenging to survive. Despite this, General Catalyst&#8217;s unconventional approach of expanding into other countries and targeting sectors with established incumbents has found favor with limited partners.
Why It Matters: The fundraising plans of General Catalyst come on the heels of <a href="https://www.benzinga.com/news/24/03/37526079/andreessen-horowitz-plans-to-raise-6-9b-for-ai-funds-gaming-and-american-dynamism-report">Andreessen Horowitz&#8216;s $7.2 billion fundraise</a>, marking the largest funds raised since the end of 2022, according to PitchBook data. However, overall fundraising for US venture capital firms has seen a significant decline, with the total raised last year amounting to $81 billion, less than half of 2022&#8217;s total.
This fundraising success is noteworthy, especially in light of <a href="https://www.benzinga.com/24/04/38381596/worlds-largest-wealth-fund-ceo-cautions-over-tech-sector-froth-ahead-of-major-earnings">recent concerns over the tech sector&#8217;s &#8220;frothiness&#8221; </a>expressed by Nicolai Tangen, CEO of Norges Bank Investment Management, the world&#8217;s largest wealth fund. Furthermore, <a href="https://www.benzinga.com/news/24/03/37952004/elon-musk-joins-andreessens-demand-for-tech-accountability-funding-of-horrendous-causes-questioned">the demand for tech accountability,</a> as supported by Elon Musk and Marc Andreessen, adds another layer of complexity to the tech investment landscape.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38475710/trump-media-stock-experiences-abnormally-volatile-first-month-says-expert-any-stock-i-can-ever-r?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Media Stock Experiences &#8216;Abnormally Volatile&#8217; First Month, Says Expert: &#8216;Any Stock I Can Ever Recall Being&#8217;</a>
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Fintech news covering the emerging Financial Technology services sector

Fintech

Entrepreneurship

Health Care

Startups

Snapchat's Early Investor General Catalyst Plans To Raise $6B For Tech Startups In US, Europe And India Despite Funding Drought

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kosmosenergy.com%2F&amp;esheet=53957346&amp;newsitemid=20240428898652&amp;lan=en-US&amp;anchor=Kosmos+Energy&amp;index=1&amp;md5=024105102d910cd690f5e5a04e1ae6fb">Kosmos Energy</a>&nbsp;(NYSE/LSE: KOS) (&quot;Kosmos&quot; or the &quot;Company&quot;) announced today that it has successfully re-financed its reserve-based lending (&quot;RBL&quot;) facility extending the maturity by approximately three years, with the RBL facility&#39;s final maturity now in December 2029.
In conjunction with the spring re-determination, the total RBL facility size has been increased to&nbsp;$1.35 billion&nbsp;(from&nbsp;$1.25 billion) with current commitments of approximately&nbsp;$1.2 billion. Discussions with additional potential lenders are ongoing and are expected to increase commitments later this year towards the RBL facility size.&nbsp;$800 million&nbsp;is currently drawn against the RBL facility with the first amortization payment scheduled for April 1, 2027.
The RBL facility is secured against the Company&#39;s production assets in Ghana and Equatorial Guinea with the Company&#39;s assets in the US Gulf of Mexico and Mauritania &amp; Senegal remaining unencumbered. The resulting borrowing base following the spring re-determination significantly exceeds the RBL facility size. The interest margin payable on the RBL increased slightly compared to the previous facility, reflecting the current banking market environment, with the new interest margin on the RBL facility commencing at 400 basis points above the Secured Overnight Financing Rate (&quot;SOFR&quot;) for the first two years.
As part of the RBL facility re-financing, the Company has downsized its revolving credit facility (&quot;RCF&quot;) from&nbsp;$250 million&nbsp;to approximately&nbsp;$165 million&nbsp;with some banks transferring their commitments from the RCF to the RBL in anticipation of the RCF maturing at the end of 2024.

Kosmos Energy Boosts Financial Flexibility with Extended and Expanded $1.35B Loan Facility

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the S&amp;P 500 recording its best week since Nov, 2023. The index surged 2.7%, snapping a three-week losing streak, while the Dow added 0.7% last week.
On the economic data front, the Federal Reserve&#8217;s preferred measure of inflation – the Personal Consumption Expenditure (PCE) price index – rose more than expected in March. The headline PCE price index rose from 2.5% in February 2024 to 2.7% year-on-year in March, beating forecasts of a 2.6% increase, the Bureau of Economic Analysis reported Friday.
Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares gained around 10% on Friday after the company posted upbeat results for its first quarter. Alphabet's board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend. Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) posted better-than-expected earnings and sales results for its third quarter on Thursday.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, information technology and consumer discretionary stocks recording the biggest gains on Friday. However, utilities and energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 154 points to 38,239.66 on Friday. The S&amp;P 500 added 1.02% at 5,099.96, while the Nasdaq Composite jumped 2.03% at 15,927.90 during Friday's session.
Investors are awaiting earnings results from ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) and Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) today.
At a current reading of 41.9, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 39.
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.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38458706/top-4-materials-stocks-that-may-explode-in-q2">Top 4 Materials Stocks That May Explode In Q2</a>

Earnings

Pre-Market Outlook

GOOG

GOOGL

MSFT

NXPI

Investor Optimism Improves Following Earnings Reports; US Stocks Notch Weekly Gains

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) to report quarterly earnings at $3.39 per share on revenue of $1.08 billion before the opening bell, according to data from Benzinga Pro. Domino&#8217;s shares rose 0.3% to $500.39 in after-hours trading.
Analysts are expecting Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) to post quarterly earnings at 65 cents per share on revenue of $3.05 billion. The company will release earnings after the markets close. Yum China shares rose 0.7% to $39.91 in after-hours trading.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly set to lay off 693 employees at its Nevada facilities as part of the 10% layoff announced by the company earlier this month to reduce costs amid falling EV sales and margins. The company also increased the price of its new Model 3 Performance in the U.S. by $1000, merely days after its launch. Tesla shares rose 0.4% to $168.93 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>.
Before the markets open, ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) is projected to report quarterly earnings at $1.04 per share on revenue of $1.85 billion. ON Semiconductor shares rose 0.7% to $68.50 in the after-hours trading session.
Analysts expect NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) to post quarterly earnings at $3.16 per share on revenue of $3.13 billion after the closing bell. NXP Semiconductors shares rose 0.5% to $243.80 in after-hours trading.
Read More: <a href="https://www.benzinga.com/top-stories/24/04/38459336/i-dont-want-you-to-lose-any-money-jim-cramer-on-this-industrial-stock-go-buy-ge-vernova">&#8216;I Don&#8217;t Want You To Lose Any Money&#8217;: Jim Cramer On This Industrial Stock: &#8216;Go Buy GE Vernova&#8217;</a>

YUMC

Domino's Pizza, Yum China And 3 Stocks To Watch Heading Into Monday

Elon Musk&#8216;s longtime supporter,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38131745/cathie-wood-hails-elon-musks-visionary-impact-hes-transforming-the-world-saving-humanity-from-itself" rel="noreferrer noopener">Cathie Wood</a>, founder of&nbsp;Ark Investment Management, doubled down on her praise for the&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO. This time, she lauded the company&#8217;s decision to ramp up investment in artificial intelligence.
What Happened: &#8220;At a time when many companies are bowing to short-term oriented shareholders who are demanding profits, dividends, and share repurchases NOW, #Tesla&#8217;s increased investment in the largest #AI project on Earth is separating it from the auto and tech packs,&#8221; Wood wrote on social media.
This post echoed remarks Musk made earlier, where he agreed with Wood&#8217;s assessment of Tesla being &#8220;the biggest AI project on earth.&#8221;
Consistent View From Wood: Wood&#8217;s praise for Tesla&#8217;s AI focus isn&#8217;t new. During an early April appearance <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38076756/cathie-wood-says-tesla-is-biggest-ai-project-in-world-sees-convergence-of-3-key-technolo" target="_blank" rel="noreferrer noopener">on CNBC&#8217;s Squawk Box</a>, she emphasized, &#8220;This is the biggest AI project in the world. We&#8217;re in a bit of a trading range and we will be until more and more analysts and investors understand how transformative the convergence of these three technologies will be.&#8221; The three technologies she refers to are robotaxis, energy storage, and AI.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes, at a time when many companies are bowing to short-term oriented shareholders who are demanding profits, dividends, and share repurchases NOW, <a href="https://twitter.com/hashtag/Tesla?src=hash&amp;ref_src=twsrc%5Etfw">#Tesla</a>&#39;s increased investment in the largest <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw">#AI</a> project on Earth is separating it from the auto and tech packs. <a href="https://t.co/auae94ULKk">https://t.co/auae94ULKk</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1784715540369375338?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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See Also:<a target="_blank" href="https://www.benzinga.com/money/best-artificial-intelligence-stocks" rel="noreferrer noopener">&nbsp;Best Artificial Intelligence Stocks</a>
Why It Matters:&nbsp;Tesla utilizes AI for both training and inference, crucial for perfecting its self-driving technology. Their full self-driving tech has transitioned from beta testing to a &#8220;Supervised&#8221; FSD program. Musk recently stated on X that Tesla plans to invest roughly $10 billion in a combination of training and inference AI, with the latter primarily used in cars. He added, &#8220;Any company not spending at this level, and doing so efficiently, cannot compete.&#8221;
Shareholder Appeasement:&nbsp;Wood&#8217;s remarks about companies catering to short-term shareholder demands follow Alphabet&#8217;s recent announcement of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more" rel="noreferrer noopener">its first-ever dividend</a>. The Google parent&#8217;s earnings release revealed board approval for a 20-cent per share cash dividend, to be paid on June 17 to stockholders of record on June 10.
With this move, all but two companies from the once-dominant &#8220;Magnificent Seven&#8221; tech stocks now offer dividends. Tesla and Amazon remain the holdouts. Notably, during Tesla&#8217;s stock decline in 2022, pressure mounted for the company to initiate stock buybacks to counter the slide.
Tesla&#8217;s Focus On The Future:&nbsp;While Tesla&#8217;s core auto business faces significant challenges, the company appears to be placing its future bets on advancements in FSD and&nbsp;robotaxi&nbsp;technology.
Tesla ended Friday&#8217;s session down 1.11% at $168.29, but was up 0.37% after the closing bell, 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/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo">&#8216;Watershed Moment,&#8217; Says Tesla Analyst As Elon Musk Makes Surprise China Visit To Reportedly Discuss FSD Rollout And Data Transfer Overseas</a>
Photo via WEF on Flickr

Analyst Color

Equities

Did Cathie Wood Just Throw Shade At Google? Ark Invest CEO This Is What Separates Tesla From 'Auto And Tech Packs'

SATS

Reported Saturday, Cox Media Group And Echostar's Subsidiary DISH Reached Agreement That Will Restore All CMG Stations

ITRI

Reported Earlier, Itron And Australian Cairns Regional Council Expand Collaboration On Water Security And Conservation

<a href="https://www.globenewswire.com/Tracker?data=yca7nmsWSD9gqy59XBclTAgZKvPjX8dzDwGBx6Zs344H5mOxt76zii5j3LRpVTdYh_HdAEgWxKaikIcyQ1LqOP5qRIgvhOiuaOfn6eiss2hqFGIO1vfaGUgd0Sio6hal" target="_blank">Addex Therapeutics</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>), a clinical-stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological disorders, today announced top-line data from a Phase 2 epilepsy study evaluating adjunctive ADX71149 (JNJ-40411813) administration in patients with focal onset seizures with suboptimal response to levetiracetam or brivaracetam. The Phase 2 study did not achieve statistical significance for the primary endpoint of time for patients to reach baseline seizure count when ADX71149 was added to standard of care.
&quot;While disappointed that the Phase 2 ADX71149 epilepsy study did not meet the primary endpoint, we are still analyzing the data,&quot; said Roger Mills, Chief Medical Officer of Addex. &quot;We will provide details on data from the full study when this analysis is completed and will work with our partner to determine next steps for the ADX71149 program.&quot;
The data were reported from a total of 110 evaluable patients, who each received either 50 mg or 100 mg of ADX71149 twice daily (100 mg or 200mg twice daily, respectively, for patients receiving CYP3A4 inducing anti-seizure medication) in addition to their standard dose of levetiracetam or brivaracetam and up to three other anti-seizure drugs. Adjunctive administration of ADX71149 was safe and well tolerated.

ADXN

Addex Therapeutics Announces Lack of Statistical Significance In ADX71149 Phase 2 Epilepsy Study

Upper Street Marketing

UPPR

Upper Street Marketing and Ennoble Progressive Beverage Distribution Terminate Share Exchange Agreement

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Latest News for Upper Street Marketing Stock (OTC:UPPR)

Wednesday, November 20, 2019

Monday, June 19, 2017