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Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV, YouTube Music among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform, or GCP, accounts for roughly 10% of Alphabet's revenue with the firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) making up the rest.

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Recent developments suggest that Amazon may be ramping up its interest in nuclear energy to fuel its growing needs.

Amazon Going Nuclear? Hiring Plans Indicate Company May Be Eyeing Nuclear To Meet Energy Needs

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To gain an edge, this is what you need to know today.

$5 Trillion Worth Of Quad Witching, AI Leading To Revivial Of Nuclear Power

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Alphabet&#39;s Waymo is reportedly in talks with South Korean automaker Hyundai Motors for contract manufacturing its robotaxis.

Alphabet&#39;s Waymo, Hyundai In Talks To Use Ioniq 5 SUVs As Robotaxis: Report

Alphabet Inc

Recent developments suggest that Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) may be <a href="https://www.benzinga.com/markets/equities/24/07/39568237/tech-giants-eye-nuclear-power-to-fuel-ai-boom-raising-concerns-over-stability-and-environmental-" target="_blank" rel="noreferrer noopener">ramping up its interest in nuclear energy</a> to fuel its growing needs.
The tech giant has reposted a job <a target="_blank" href="https://www.linkedin.com/jobs/view/principal-nuclear-engineer-datacenter-engineering-power-generation-solutions-at-amazon-web-services-aws-4007936223" rel="noreferrer noopener">opening</a> for a Principal Nuclear Engineer in its Data Center Engineering division, raising questions about its long-term energy strategy.
Nano Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>), an emerging microreactor technology company, cited the opening in a social media <a href="https://x.com/nano_nuclear/status/1827024271731802146" target="_blank" rel="noreferrer noopener">post</a> on X, formerly Twitter.
Why This Is Important: The opening by Amazon comes shortly after Talen Energy agreed to sell a 960-megawatt data center campus to Amazon Web Services (AWS) for $650 million earlier this year, which includes a decade-long electricity supply agreement from the Susquehanna nuclear power station.
This particularly highlights Amazon&#8217;s commitment to clean, carbon-free energy sources.
An Amazon spokesperson <a href="https://www.ans.org/news/article-5842/amazon-buys-nuclearpowered-data-center-from-talen/" target="_blank" rel="noreferrer noopener">told the</a> American Nuclear Society, &#8220;To supplement our wind and solar energy projects, which depend on weather conditions to generate energy, we&#8217;re also exploring new innovations and technologies and investing in other sources of clean, carbon-free energy. This agreement with Talen Energy for carbon-free energy is one project in that effort.&#8221;
Also Read: <a href="https://www.benzinga.com/government/24/03/37627399/amazons-shot-at-nuclear-power-play-will-the-tech-giants-latest-move-redefine-green-energy-for-data-c" target="_blank" rel="noreferrer noopener">Amazon&#8217;s Shot At Nuclear Power Play &#8211; Will The Tech Giant&#8217;s Latest Move Redefine Green Energy for Data Centers?</a>
In a report <a href="https://www.aboutamazon.com/news/sustainability/amazon-renewable-energy-updates" target="_blank" rel="noreferrer noopener">released</a> on July 10, Amazon announced that it has achieved its goal of sourcing 100% of the electricity used across its global operations — including data centers, corporate offices, grocery stores, and fulfillment centers — from renewable energy, a target initially set for 2030. The company plans to continue investing in solar and wind projects while exploring nuclear power and battery storage to sustain its energy needs.
Why The Nuclear-Energy Interest May Be Controversial
Amazon&#8217;s nuclear ambitions are not without controversy.
Following the agreement with Talen Energy, utility companies American Electric Power Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) and Exelon Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXC#NASDAQ">EXC</a>) formally objected to the Federal Energy Regulatory Commission (FERC), claiming that the electricity arrangement allows Amazon to benefit from the power grid without contributing to its maintenance costs, a <a href="https://www.ans.org/news/article-6180/aep-exelon-ask-ferc-to-scrutinize-amazontalen-data-center-deal/">report </a>by the American Nuclear Society suggests.
They argue this could lead to increased expenses for other PJM ratepayers, as the data center&#8217;s power usage is indirectly linked to the grid&#8217;s resources. PJM ratepayers are&nbsp;customers of the Pennsylvania-New Jersey-Maryland Interconnection (PJM).&nbsp;
That&#8217;s not all!
A March <a href="https://heatmap.news/technology/amazon-nuclear-talen-energy">report</a> by Heat Map suggests that a divide has emerged among tech giants regarding energy strategies, with Amazon focusing on securing low-cost power without prioritizing new carbon-free sources, while 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>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) aim for comprehensive carbon-free energy solutions.
Microsoft and Google have shown increased interest in nuclear power to ensure a stable electricity supply, reflecting a broader commitment to sustainable energy practices.
As Amazon moves forward with its nuclear initiatives, the intersection of innovation and regulatory scrutiny will play a crucial role in shaping its energy strategy.
The company&#8217;s hiring of nuclear engineers underscores its serious intentions in this space, but the implications of these decisions could significantly affect its relationships within the energy sector.
Will Amazon&#8217;s foray into nuclear power pave the way for a more sustainable future, or complicate its standing in an already complex energy landscape?
According to&nbsp;<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, AMZN stock has gained over 48% in the past year. Investors can gain exposure to the stock via ProShares Online Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONLN#NYSE">ONLN</a>) and&nbsp;Fidelity MSCI Consumer Discretionary Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>).
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Communication Services sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>META</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$565.00</td>
<td>$25.4K</td>
<td>369</td>
<td>3.3K</td>
</tr>
<tr>
<td>GOOG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$170.00</td>
<td>$39.6K</td>
<td>13.1K</td>
<td>1.7K</td>
</tr>
<tr>
<td>ASTS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$45.00</td>
<td>$70.5K</td>
<td>267</td>
<td>506</td>
</tr>
<tr>
<td>TMUS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$200.00</td>
<td>$29.2K</td>
<td>923</td>
<td>373</td>
</tr>
<tr>
<td>CHTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$240.00</td>
<td>$30.1K</td>
<td>86</td>
<td>366</td>
</tr>
<tr>
<td>RDDT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$60.00</td>
<td>$27.7K</td>
<td>1.6K</td>
<td>152</td>
</tr>
<tr>
<td>TTWO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$155.00</td>
<td>$49.5K</td>
<td>2.9K</td>
<td>67</td>
</tr>
<tr>
<td>DIS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$80.00</td>
<td>$63.7K</td>
<td>525</td>
<td>25</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$440.00</td>
<td>$26.2K</td>
<td>175</td>
<td>5</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For META (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), we notice a put option sweep that happens to be bullish, is expiring today. Parties traded 100 contract(s) at a $565.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $25.4K, with a price of $253.0 per contract. There were 369 open contracts at this strike prior to today, and today 3318 contract(s) were bought and sold. 
• For GOOG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), we notice a call option sweep that happens to be bearish, expiring in 28 day(s) on October 18, 2024. This event was a transfer of 200 contract(s) at a $170.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $39.6K, with a price of $198.0 per contract. There were 13155 open contracts at this strike prior to today, and today 1727 contract(s) were bought and sold. 
• For ASTS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>), we notice a call option trade that happens to be bearish, expiring in 847 day(s) on January 15, 2027. This event was a transfer of 50 contract(s) at a $45.00 strike. The total cost received by the writing party (or parties) was $70.5K, with a price of $1410.0 per contract. There were 267 open contracts at this strike prior to today, and today 506 contract(s) were bought and sold. 
• Regarding TMUS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), we observe a call option sweep with bearish sentiment. It expires in 28 day(s) on October 18, 2024. Parties traded 75 contract(s) at a $200.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $29.2K, with a price of $390.0 per contract. There were 923 open contracts at this strike prior to today, and today 373 contract(s) were bought and sold. 
• Regarding CHTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), we observe a put option sweep with bullish sentiment. It expires in 182 day(s) on March 21, 2025. Parties traded 58 contract(s) at a $240.00 strike. This particular put needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $30.1K, with a price of $520.0 per contract. There were 86 open contracts at this strike prior to today, and today 366 contract(s) were bought and sold. 
• For RDDT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), we notice a call option sweep that happens to be bearish, is expiring today. Parties traded 50 contract(s) at a $60.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $27.7K, with a price of $555.0 per contract. There were 1674 open contracts at this strike prior to today, and today 152 contract(s) were bought and sold. 
• For TTWO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>), we notice a call option sweep that happens to be bullish, expiring in 119 day(s) on January 17, 2025. This event was a transfer of 63 contract(s) at a $155.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $49.5K, with a price of $786.0 per contract. There were 2964 open contracts at this strike prior to today, and today 67 contract(s) were bought and sold. 
• For DIS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), we notice a call option trade that happens to be bullish, expiring in 819 day(s) on December 18, 2026. This event was a transfer of 25 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $63.7K, with a price of $2550.0 per contract. There were 525 open contracts at this strike prior to today, and today 25 contract(s) were bought and sold. 
• For NFLX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), we notice a call option trade that happens to be bullish, is expiring today. Parties traded 1 contract(s) at a $440.00 strike. The total cost received by the writing party (or parties) was $26.2K, with a price of $26200.0 per contract. There were 175 open contracts at this strike prior to today, and today 5 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ASTS

CHTR

NFLX

RDDT

TMUS

TTWO

9 Communication Services Stocks With Whale Alerts In Today's Session

<a href="https://www.bloomberg.com/news/articles/2024-09-20/google-faces-eu-ultimatum-in-fresh-attack-on-search-dominance" title="https://www.bloomberg.com/news/articles/2024-09-20/google-faces-eu-ultimatum-in-fresh-attack-on-search-dominance">https://www.bloomberg.com/news/articles/2024-09-20/google-faces-eu-ultimatum-in-fresh-attack-on-search-dominance</a>

'Google Faces EU Ultimatum in Fresh Attack on Search Dominance' - Bloomberg

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/09/2024-09-20_08h35_26-1.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h3 class="wp-block-heading">Nuclear Power Revival</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-quad-witching-nuclear-power-revival-ceg-mc-09202024">click here</a> for an enlarged chart of Constellation Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock.&nbsp; The chart of CEG is being used to illustrate the point.</li>
<li>To feed the power hungry AI data centers, Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is signing a power purchase agreement with CEG.</li>
<li>The chart shows the gap up on CEG news.</li>
<li>The chart shows that CEG is in the resistance zone.</li>
<li>RSI on the chart shows that CEG is very overbought.&nbsp; An overbought stock tends to pullback.</li>
<li>Based on the quantitative screen of The Arora Report's ZYX Change Method, CEG is way overvalued at this time.&nbsp; However, CEG will benefit from AI, and as such, it is on our radar to give a signal when it is appropriate.</li>
<li>To provide the power, CEG will restart Three Mile Island Unit 1.&nbsp; This reactor was shut down about five years ago due to economic reasons.&nbsp; Three Mile Island Unit 2 is famous for a partial melt down, which caused the most serious nuclear accident on U.S. soil.&nbsp; In addition to CEG, there are opportunities in other energy producers that will help meet the massive power demand for AI.
<ul>
<li>Quanta Services Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) is a contractor to electric utilities and is benefiting from the AI power demand.&nbsp; As full disclosure, PWR is in The Arora Report&#8217;s ZYX Buy Core Model Portfolio. PWR is long from $37.&nbsp; </li>
<li>First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), which provides solar power to data centers. As full disclosure, FSLR is in The Arora Report&#8217;s ZYX Buy Core Model Portfolio.</li>
<li>A new name that is on The Arora Report&#8217;s radar is Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>). As full disclosure, a signal may be given when appropriate.</li>
</ul>
</li>
<li>We shared with readers yesterday that quad witching was to the upside.
<ul>
<li>A part of the strength in the stock market yesterday was due to quad witching and not due to the Fed's 50 bps interest rate cut.</li>
<li>About $5 trillion notional value of stock derivatives are expiring today.&nbsp; This is a huge amount but not a record.</li>
<li>This morning, expiring futures are exerting downward pressure on the market after yesterday's runup.&nbsp; Futures are expiring this morning.</li>
<li>Options will expire in the afternoon.</li>
</ul>
</li>
<li>Historically, gains due to quad witching tend to reverse in the following week and sometimes even on the expiration day.</li>
</ul>
<h3 class="wp-block-heading">Japan</h3>
In a relief to U.S. stock investors, the Bank of Japan (BOJ) left interest rates unchanged.
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).
In the early trade, money flows are neutral in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and MSFT.
In the early trade, money flows are negative in NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Trump's advocacy continues to bring buying into Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). Here is the key question: Will bitcoin whales take advantage of the strength to sell as is their pattern?
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Alphabet Inc.&#8217;s (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>) Waymo is reportedly in talks with South Korean automaker Hyundai Motor for contract manufacturing its robotaxis.
What Happened: Waymo officials have met with Hyundai Motor officials over three times at the former&#8217;s headquarters in the U.S., South Korean newspaper Electronic Times <a href="https://www.etnews.com/20240912000413">reported</a>, citing sources. The robotaxi company is reportedly looking to procure Hyundai vehicles to operate as robotaxis. 
Waymo is considering using Hyundai&#8217;s Ioniq 5 instead of Geely brand Zeekr&#8217;s electric vehicles as previously planned for its <a href="https://www.benzinga.com/news/24/08/40455006/alphabets-waymo-introduces-new-hardware-with-sensors-better-armed-against-winters">6th-gen self-driving technology</a> owing to the increased tariffs on EV imports from China, the report added.
The robotaxi company currently deploys its tech on vehicles including the Jaguar i-Pace and the Chrysler Pacifica hybrid to operate them as robotaxis.
Waymo, Hyundai, and Zeekr did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment.
Why It Matters: In July, Alphabet committed&nbsp;to a new multiyear&nbsp;<a href="https://www.benzinga.com/news/24/07/39924838/alphabet-commits-to-another-5b-investment-in-waymo-tesla-ceo-elon-musk-takes-jibe-at-cash-burn-in-un" target="_blank" rel="noreferrer noopener">investment of $5 billion into Waymo</a>&nbsp;to help the company &#8220;continue to build the world&#8217;s leading autonomous driving technology company.&#8221;
Waymo is delivering well over 50,000 paid trips per week to customers, Alphabet CEO&nbsp;Sundar Pichai&nbsp;then said.
Automotive research firm&nbsp;S&amp;P Global Mobility&nbsp;said earlier this week that it deems <a href="https://www.benzinga.com/news/24/09/40792410/us-autonomous-vehicle-sales-to-hit-230k-by-2034-after-progress-resumes-at-alphabets-waymo-gms-cruise">Waymo to be the frontrunner </a>in the field of autonomous vehicles in the U.S. The firm expects sales of autonomous light vehicles in the U.S. to reach about 230,000 units in 2034.
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40952233/gms-cruise-eyes-resuming-robotaxi-operations-in-california-after-long-pause-due-to-pedestrian-accide">GM&#8217;s Cruise Eyes Resuming Robotaxi Operations In California After Long Pause Due To Pedestrian Accident In 2023</a></li>
</ul>
Photo courtesy: Shutterstock

Alphabet's Waymo, Hyundai In Talks To Use Ioniq 5 SUVs As Robotaxis: Report

YouTube, a subsidiary of&nbsp;Alphabet Inc.&#8217;s&nbsp;(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>) Google, has announced the implementation of &#8220;Pause ads,&#8221; a feature that <a href="https://www.benzinga.com/news/23/11/35613857/youtubes-war-against-ad-blockers-leads-to-record-uninstalls-but-users-are-fighting-back">displays advertisements</a> even when a video is paused.
What Happened: On Thursday, YouTube confirmed the broad rollout of &#8220;Pause ads&#8221; to all advertisers. Now, when a user pauses a video, an ad will appear&nbsp;on the side of the&nbsp;screen, <a href="https://edition.cnn.com/2024/09/19/business/youtube-ads-paused-screen/index.html">reported</a> CNN.
The new feature is intended to be &#8220;seamless for viewers&#8221; and offers an opportunity for&nbsp;them to learn more about&nbsp;a brand, a Google spokesperson told the report.
The update is seen as beneficial&nbsp;for the entire YouTube ecosystem&nbsp;and is part of the modern Connected TV (CTV) ads experience.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40932378/elon-musks-x-manages-to-dodge-brazil-ban-with-software-update-court-wants-an-explanation?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s X Manages To Dodge Brazil Ban With Software Update, Court Wants An Explanation</a>
Despite YouTube&#8217;s assertion that&nbsp;the update creates a less&nbsp;interruptive viewing experience, social media users have voiced their annoyance over the new, unavoidable ads.
<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">Seriously <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a>? You&#39;re putting up ads when you pause a video now? I am about to install a computer in place of the fire stick so I can have an ad blocker&#8230; Your ads are getting ridiculous. <a href="https://t.co/OT4JMduGTU">pic.twitter.com/OT4JMduGTU</a>
&mdash; RoÆther (@Roaether) <a href="https://twitter.com/Roaether/status/1832186161743216724?ref_src=twsrc%5Etfw">September 6, 2024</a></blockquote>
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<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">nice one thing i hate when i pause a youtube video is the silence <a href="https://t.co/86sNagJ9Y4">https://t.co/86sNagJ9Y4</a>
&mdash; Keefler (@Keefler_Elf) <a href="https://twitter.com/Keefler_Elf/status/1836947769317020159?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
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<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"><a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> Playing ads when pausing a video is an absolute trash idea. Stop trying these atrocious implementations to try to strongarm users into your subscription service. When I pause a video I want to disconnect not have to also wait to mute/pause/skip and ad.
&mdash; Cannoli Senpai (@CannoliSenpai) <a href="https://twitter.com/CannoliSenpai/status/1836956020226040198?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
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</figure>
Users can still avoid ads&nbsp;with a YouTube Premium subscription, which costs&nbsp;$13.99 a month for an&nbsp;individual.
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: The introduction of &#8216;Pause ads&#8217; comes amid growing user frustration over the increasing number of ads on YouTube. Last year, Elon Musk agreed with millions of users worldwide that <a href="https://www.benzinga.com/news/23/10/35483941/elon-musk-agrees-with-millions-of-users-worldwide-youtube-ads-are-getting-out-of-control">YouTube ads were &#8220;getting out of control.&#8221;</a>
In May this year, some YouTube users with ad blockers installed reported that their videos were skipping to the end, a phenomenon that was speculated to be a strategy by <a href="https://www.benzinga.com/news/24/05/39054233/youtube-videos-reportedly-skipping-to-the-end-for-ad-block-users-bug-or-strategy">YouTube to counter ad blockers</a>.
YouTube has also been experimenting with new ways to prevent rampant ad-blocking on the platform, including <a href="https://www.benzinga.com/general/entertainment/24/06/39438445/youtube-steps-up-ad-blocker-crackdown-is-it-making-a-difference">server-side ad injection</a>.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40892284/oracles-larry-ellison-predicts-police-officers-will-be-supervised-at-all-times-and-citizens-will-be?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Oracle&#8217;s Larry Ellison Predicts Police Officers Will Be Supervised &#8216;At All Times&#8217; And Citizens Will Be On Their Best Behavior Thanks To Constant AI-Powered Surveillance</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

There Is No Escaping YouTube Ads Even After Hitting The Pause Button — Disgruntled Users Cry Foul: 'An Absolute Trash Idea'

<a href="https://wccftech.com/doj-claims-google-employees-deliberately-hid-messages-from-antitrust-investigators-escalating-legal-tensions/">https://wccftech.com/doj-claims-google-employees-deliberately-hid-messages-from-antitrust-investigators-escalating-legal-tensions/</a>
Google has been facing increasing pressure and undergoing legal scrutiny for maintaining an illegal monopoly in the digital advertising space and going against competition laws. While the company is under investigation, it is now dealing with another set of complications as recently, the employees of the company have landed themselves in hot waters for deliberately attempting to hide messages from the investigators in order to avoid being trapped in more legal issues by removing potential evidence.
<h2>Google is facing another complication in its antitrust investigation as DOJ claims employees tried to hide potential evidence</h2>
Google was faced with a legal claim for engaging in monopolistic practices in the search engine market and digital advertising and going against competition laws. As reported by <a href="https://www.theverge.com/2024/9/19/24245559/google-employee-privileged-confidential-deleted-chats">The Verge</a>, a recent proceeding of the case was going on in Virginia, where the lawyers of the U.S. Department of Justice (DOJ) claimed that Google employees have been trying to pass messages that could potentially serve as proof as being 'confidential' and being 'off the record.'
This attempt to hide has been ongoing despite the investigators clearly emphasizing the importance of preserving communication for investigation and adding another layer of complication to the legal matter. If the second<a href="https://wccftech.com/us-considering-breaking-up-google/"> antitrust</a> trial judge declares this intention as an effort to conceal evidence, it could bring some serious trouble for Google, and an adverse inference ruling could also be issued.
According to the ruling, the court draws the assumption that the information destroyed is, in fact, detrimental to the case and, hence, removed as a result. It could potentially harm Google's position by changing the narrative and bolstering the government's case.
Former Google sell-side ad executive Chris LaSala, on Friday, in Google's defense, suggested that Google's chat messages had turned off the history by default and that employees had to manually change the settings on an individual basis. Many employees then admitted that they did not make the needed changes, and while the conversation was mainly of a casual nature, some messages did carry important business discussions.
Some instances have been highlighted in court by the government, where LaSala instructed employees to turn off chat history for sensitive information exchange. Such practices by the company tend to not favor them in the proceedings and may lead to legal repercussions if the court declares the attempts as intentional. Companies are facing increased pressure to be more vigilant about laws and regulations to avoid being part of any legal complications.

Legal

'DOJ Claims Google Employees Deliberately Hid Messages From Antitrust Investigators, Escalating Legal Tensions' - WCCFtech

Big tech is acting <a href="https://www.benzinga.com/topic/surveillance">more like Big Brother</a>.
That&#8217;s according to the latest report from the Federal Trade Commission (FTC). The Thursday release details how major social media and video streaming platforms have taken snooping to a whole new level.
"The report lays out how social media and video streaming companies harvest an enormous amount of Americans' personal data and monetize it to the tune of billions of dollars a year," said FTC Chair Lina Khan in a statement Thursday. "While lucrative for the companies, these surveillance practices can endanger people's privacy, threaten their freedoms, and expose them to a host of harms, from identify theft to stalking.&#8221;
The FTC mentions nine companies specifically:
<ul>
<li>Amazon.com Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Twitch</li>
<li>Meta Platforms&#8217; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Facebook</li>
<li>Alphabet Inc&#8216;s (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>) YouTube</li>
<li>X.com, formerly Twitter </li>
<li>ByteDance Ltd., which owns the video-sharing platform TikTok</li>
<li>Discord Inc.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>)</li>
<li>WhatsApp Inc. (also owned by Meta)</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)</li>
</ul>
Each company is monetizing the personal information of its users while failing to provide sufficient privacy protections, the FTC claims. 
&#8220;Several firms' failure to adequately protect kids and teens online is especially troubling,&#8221; Khan added, calling the report's findings &#8220;timely,&#8221; particularly as policymakers consider legislation to protect people from &#8220;abusive data practices."
<h1 class="wp-block-heading">Unchecked Data Collection And Sharing</h1>
In 2020, the FTC issued orders to the nine social media and video streaming companies, requiring them to provide data on how they collect, use and present personal information.
What regulators found was that the platforms collected massive amounts of personal data, including from data brokers, not only from users but also from non-users. The data then fuels automated systems for targeted advertising and algorithmic content delivery.
The agency flagged these companies for a lack of transparency and making little effort to inform users or allow them to opt out of data collection. In some cases, the companies failed to delete user data even when requested, raising further concerns about data retention and privacy rights, the report continued.
The FTC found that companies employed privacy-invasive technologies, such as tracking pixels, to monitor users&#8217; behavior and serve personalized ads. These advertising models are the backbone of their businesses, often in direct conflict with user privacy. Companies also <a href="https://www.benzinga.com/general/entertainment/24/04/38054087/facebook-is-selling-your-private-messages-lawsuit-alleges">shared collected data broadly</a> with third parties, amplifying the risk of misuse.
See Also: <a href="https://www.benzinga.com/news/24/07/39848971/new-instagram-study-to-investigate-social-medias-effects-on-teen-mental-health">New Instagram Study to Investigate Social Media&#8217;s Effects On Teen Mental Health</a>
<h1 class="wp-block-heading">Impact On Children And Teens</h1>
The report reveals social media and streaming platforms failed to protect younger users.
Companies either claimed there were no children on their platforms or their services weren't designed for minors. The FTC slammed it as an attempt to bypass regulations like the Children's Online Privacy Protection Act (COPPA).
However, the report highlights many platforms treat teens similarly to adults, without implementing additional safety measures or privacy protections for these vulnerable users.
The report wasn&#8217;t without its critics, including those from within the FTC.
Commissioner Andrew Ferguson, for example, voted to approve the publication of the report but argues it &#8220;should have focused more on proposing legislative improvements to the online rights of parents and children rather than accusing companies of violating existing law under novel, dubious theories.&#8221;
Ferguson argued against the claim that consumers can suffer "extreme harm" by being shown a targeted advertisement. He called it &#8220;a gratuitous attack on the online economy made with the goal of justifying heavy-handed regulation.&#8221;
Indeed, legislators who lean both Democrat and Republican seldom meet in the middle when addressing digital privacy. Recall how Republican Gov. Ron DeSantis signed the country's <a href="https://www.benzinga.com/markets/equities/24/03/37922168/new-florida-law-to-ban-social-media-for-kids-under-14-require-id-checks-on-all-ages-whats-at-sta">most restrictive social media law</a> to date, banning children under 13 from using platforms such as Instagram, Facebook and ByteDance&#8217;s TikTok.
And Beijing-based Bytedance is already facing massive scrutiny from the federal government over fear that user data is vulnerable. A new bill seeks to <a href="https://www.benzinga.com/markets/asia/24/03/37800098/tiktok-ban-china-has-the-power-to-block-sale-gains-leverage-over-washington" target="_blank" rel="noreferrer noopener">force the company to sell its U.S. operations</a> to a local buyer by early 2025. Otherwise, TikTok faces a complete shutdown in the U.S. 
Republican nominee and former President Donald Trump has placed low emphasis on regulation ahead of <a href="https://www.benzinga.com/topic/2024-presidential-election">the 2024 presidential election</a>. After all, he has the support of X.com owner Elon Musk and several Silicon Valley billionaires, including Marc Andreessen <a href="https://sfstandard.com/2024/08/16/felicia-ben-horowitz-party-switch/">and</a> Ben Horowitz.
Vice President Kamala Harris, the Democratic nominee, has not pushed for big tech companies to be broken up. Instead, she argues that these companies should be "regulated in a way that we can ensure the American consumer can be certain that their privacy <a href="https://www.benzinga.com/general/politics/24/07/39889666/kamala-harris-on-ai-tiktok-and-big-tech-breakups-privacy-is-not-being-compromised">is not being compromised</a>."
Now Read: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40941053/s-p-500-dow-jones-hit-record-highs-magnificent-7-add-400-billion-after-feds-histori">S&amp;P 500, Dow Jones Hit Record Highs: Magnificent 7 Add $400 Billion After Fed&#8217;s Historic Interest Rate Cut</a></li>
</ul>
Image: Pixabay

Government

Regulations

SNAP

No Privacy For Profit's Sake: FTC Calls Out Amazon, Meta, Big Tech For Exposing Users To 'Host Of Harms'

Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone and iPad operating systems have drawn <a target="_blank" href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_4761" rel="noreferrer noopener">European regulatory attention</a>.
On Thursday, the European Commission initiated&nbsp;two specification proceedings&nbsp;to help Apple&nbsp;comply with its interoperability obligations under&nbsp;the Digital Markets Act (&#8216;DMA&#8217;).
Apple must ensure free interoperability to third-party developers and businesses to alleviate the regulator&#8217;s antitrust concerns.
The Commission will complete&nbsp;the proceedings&nbsp;within six months from their commencement.
In 2021, the European Commission proposed a <a target="_blank" href="http://ec.europa.eu/commission/presscorner/detail/en/ip_21_4613" rel="noreferrer noopener">rule&nbsp;</a>requiring all smartphones to adopt USB-C ports for physical charging.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/21/09/23101686/eu-rules-could-make-usb-c-chargers-mandatory-apple-iphones-may-need-redesign" rel="noreferrer noopener">EU Rules Could Make USB-C Chargers Mandatory, Apple iPhones May Need Redesign</a>
Big Tech companies, including Apple, Google parent 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>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), have faced global regulatory scrutiny for allegedly stifling competition with their &#8220;walled gardens,&#8221; as they strive to boost their revenue and profits.
Apple faced regulatory scrutiny for making its operating systems compatible with only Apple hardware, citing better user security.
Google faced antitrust probes over its Search market dominance by paying smartphone companies to make its search engine the default option on <a target="_blank" href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report" rel="noreferrer noopener">their web browsers</a>.
U.S. regulators initiated&nbsp;a probe&nbsp;into&nbsp;Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for alleged influence in the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40768376/nvidia-faces-antitrust-probe-over-market-dominance-as-doj-ftc-crack-down-on-ai-powerhouses-repor" rel="noreferrer noopener">artificial intelligence chip market</a>.
Meta Platforms recently came under the EU scanner for alleged monopolizing the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40919557/meta-braces-for-costly-eu-fine-over-marketplace-report" rel="noreferrer noopener">classified advertising market</a>.
It is worth noting that Google&nbsp;won its appeal against the European Commission&#8217;s antitrust fine for its <a target="_blank" href="https://www.benzinga.com/24/09/40915828/google-wins-1-7b-eu-antitrust-fine-appeal-over-5-year-old-online-search-advertising-case" rel="noreferrer noopener">online search advertising business</a>.
Price Action: AAPL stock is trading higher by 3.76% to $226.98 at the last check on Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/40940715" target="_blank" rel="noreferrer noopener">Apple Revenue Growth &#8216;Just Too Slow For Investors To Get Excited About&#8217;: Analyst Highlights Advertising As Future Catalyst</a></li>
</ul>
Photo via Apple

Eurozone

BABA

After Lightning Port, EU Targets Apple's iPhone and iPad Systems, Demands Greater Access for Third-Party Developers

Verint Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) shares are in the spotlight Thursday after The Bear Cave released a bearish report on <a href="https://www.benzinga.com/quote/VRNT" target="_blank" rel="noreferrer noopener">the contact center company</a>.
What To Know: Short-selling firm The Bear Cave has customer experience (CX) automation company Verint Systems in its crosshairs. The short seller published a report Thursday morning titled, &#8220;Problems at Verint Systems (VRNT),&#8221; arguing that the company is likely to be disrupted by <a href="http://benzinga.com/topic/ai">AI</a> advancement.
&#8220;Verint's management insists Verint will be an AI beneficiary as customers use Verint's AI-powered bots to improve their call centers. The Bear Cave sees things differently,&#8221; the short seller said.
Benzinga has reached out to Verint Systems for comment on the report.
The Bear Cave believes AI is going to negatively impact Verint as AI-powered competitors take share from its automated bot offerings and AI agents largely replace human agents over the coming years. The short seller believes Verint will &#8220;suffer significantly&#8221; as call centers transition away from humans. 
The Bear Cave also highlighted a pair of interviews from last month in which a former sales director for Verint acknowledged that competitors have adopted AI faster than Verint, and that the company may get left behind as it continues to focus on bots. The former sales director noted that it&#8217;s not clear if Verint will still be around in another 10 or 15 years, given the amount of AI-specific startups coming into the space, according to the short seller.
Check This Out: <a href="https://www.benzinga.com/top-stories/24/09/40937593/oracle-cloudworld-highlights-ai-driven-tech-services-but-revenue-growth-requires-patience-analyst">Oracle CloudWorld Highlights &#8216;AI-Driven Tech Services,&#8217; But Revenue Growth Requires Patience: Analyst</a>
The Bear Cave highlighted some of the increasing competition including from Alphabet Inc&#8217;s (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>) Google Dialogflow, International Business Machines Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) and several startups like Yellow AI and Observe AI, which are aggressively moving into AI automation for call centers.
The firm also pointed to a recent <a href="https://www.benzinga.com/pressreleases/24/09/b40922898/t-mobile-and-openai-join-forces-to-revolutionize-the-customer-experience-with-first-ever-intent-dr">press release</a> from T-Mobile US Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), announcing a partnership with OpenAI that aims to revolutionize the customer experience. The company expects the partnership to help automate tasks that would normally require a store visit or call to a customer service agent.
The short seller noted AI headwinds may be starting to show up in the company&#8217;s numbers. Last quarter, Verint <a href="https://www.benzinga.com/news/earnings/24/09/40737739/these-analysts-cut-their-forecasts-on-verint-systems-following-downbeat-q2-results">missed analyst estimates</a> on the top and bottom lines and issued soft guidance for the full year.
&#8220;The future is not bots, the future is not human agents, and the future is certainly not Verint,&#8221; the short seller said.
VRNT Price Action: Verint shares were up 0.67% at $26.38 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40909973/blackrock-microsoft-others-team-up-for-30b-artificial-intelligence-fund-help-us-fuel-ai-innovation-a">BlackRock, Microsoft, Others Team Up For $30B Artificial Intelligence Fund: Help US Fuel &#8216;AI Innovation And Economic Growth&#8217;</a></li>
</ul>
Photo: Shutterstock

Short Sellers

Short Ideas

Trading Ideas

VRNT

Short Seller Targets Verint Systems Stock As AI Threat Emerges: 'The Future Is Certainly Not Verint'

Bulls are stampeding across Wall Street on Thursday in the wake of the Federal Reserve&#8217;s decision to cut interest rates for the first time<a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead"> in over four years</a>.
The central bank&#8217;s bold move, a 50-basis-point cut, caught analysts off guard and sent the U.S. stock market to fresh record highs at the opening of Thursday&#8217;s session.
The S&amp;P 500 soared to a new all-time high, reaching 5,700 points. Similarly, the Dow Jones Industrial Average climbed to an unprecedented 42,000 points.
In the first 30 minutes of trading, the S&amp;P 500 and Dow Jones rose by 1.4% and 1%, respectively. The Nasdaq 100 climbed 1.5%, although the Russell 2000, representing small-cap stocks, outperformed with a surge of over 2%.
The market rally was primarily driven by the Magnificent Seven: Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), 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>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Each of the Magnificent Seven are recording daily gains ranging from 1.5% to 4.5%, solidly in positive territory.
<h3 class="wp-block-heading">Chart: S&amp;P 500 Hits Record Highs</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-1024x447.png" alt="" class="wp-image-556397" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-1024x447.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-768x336.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155-1536x671.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19100943/image-155.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
<h3 class="wp-block-heading">Strong Labor Market Eases Slowdown Fears, Analysts Boost Rate-Cut Wagers</h3>
Thursday&#8217;s economic data further boosted investor confidence. Weekly jobless claims came in well below expectations, suggesting a lower-than-expected trend of rising unemployment. 
Continuing jobless claims also dropped more than expected, hinting at a potential absorption of long-term unemployed individuals into the job market. 
This data alleviated concerns about rising unemployment and provided a more optimistic outlook for the economy.
Wall Street analysts quickly adjusted their expectations following the Federal Reserve&#8217;s rate cut. There is now growing anticipation of additional rate cuts, diverging from the cautious tone expressed in the Fed&#8217;s September &#8220;dot plot&#8221; and Chair Jerome Powell&#8216;s remarks during the press conference.
Notably, Goldman Sachs economist Jan Hatzius revised his forecast from expecting a 25-basis-point cut at every other meeting to predicting a rate cut at every meeting. He even left the door open for a back-to-back 50-basis-point reduction in November.
<h3 class="wp-block-heading">Thursday&#8217;s 5 Top-Performing S&amp;P 500 Stocks</h3>
Among the S&amp;P 500, the top five performers as of 10 a.m. ET were:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day Return</td>
</tr>
<tr>
<td>Darden Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NASDAQ">DRI</a>) </td>
<td>7.46</td>
</tr>
<tr>
<td>Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>)</td>
<td>5.27</td>
</tr>
<tr>
<td>Cadence Design Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>)</td>
<td>4.40</td>
</tr>
<tr>
<td>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCRX#NASDAQ">LCRX</a>)</td>
<td>4.34</td>
</tr>
<tr>
<td>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>4.33</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Thursday&#8217;s 5 Top-Performing Dow Jones Industrial Average Stocks</h3>
Among the Dow Jone, the top five performers were:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day Return</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>3.02</td>
</tr>
<tr>
<td>Salesforce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NASDAQ">CRM</a>)</td>
<td>3.01</td>
</tr>
<tr>
<td>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>2.80</td>
</tr>
<tr>
<td>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>)</td>
<td>2.71</td>
</tr>
<tr>
<td>American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</td>
<td>2.67</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40938732/wall-street-ramps-up-interest-rate-cut-bets-after-fed-meeting-the-hard-landing-crow">Wall Street Ramps Up Interest Rate Cut Bets After Fed Meeting: &#8216;The Hard-Landing Crowd Should Disperse,&#8217; Economist Says</a></li>
</ul>
Photo via Shutterstock.

Analyst Color

Large Cap

Macro Economic Events

Broad U.S. Equity ETFs

Small Cap

Econ #s

Economics

Federal Reserve

ETFs

ABNB

CDNS

LCRX

S&P 500, Dow Jones Hit Record Highs: Magnificent 7 Add $400 Billion After Fed's Historic Interest Rate Cut

Wednesday, Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) promoted Rose Castanares, executive vice president of the Arizona unit, as president.
Castanares, who joined the Taiwanese contract chipmaker in 1998, will take over Brian Harrison on October 1, who will retire on December 31, the Taipei Times <a target="_blank" href="https://www.taipeitimes.com/News/biz/archives/2024/09/19/2003823993" rel="noreferrer noopener">cites</a> in a company statement.
TSM stock is trading higher on Thursday as the U.S. Federal Reserve <a target="_blank" href="https://in.benzinga.com/markets/equities/24/09/40932103/it-stocks-on-the-rise-after-u-s-fed-cuts-interest-rate" rel="noreferrer noopener">slashed its benchmark</a> interest rate by 50 basis points, setting the interest rate at 4.75%-5% to&nbsp;spur demand for discretionary spending from U.S. companies.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40904754/amazons-leaner-structure-and-ai-chip-partnership-with-intel-could-boost-growth-bofa" rel="noreferrer noopener">Amazon&#8217;s Leaner Structure and AI Chip Partnership with Intel Could Boost Growth: BofA Analyst</a>
The <a target="_blank" href="https://www.benzinga.com/government/24/04/38249052/samsung-secures-6-4b-from-us-for-texas-chip-factory-after-nvidia-supplier-tsmcs-breakthrough" rel="noreferrer noopener">contract chipmaker recently raised</a> its U.S. investment by more than 60% to $65 billion, as the country granted a $6.6 billion federal grant and provided $5 billion in loans.
TSMC is a key artificial intelligence chip supplier for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and is building two advanced fabs in Arizona, leveraging the 4nm, 3nm, and 2nm processes.
It is also eyeing a third fab in Arizona, leveraging the 2nm process. Earlier this year, the company won approval to infuse $7.5 billion in the Arizona unit, reflecting its conviction in the <a target="_blank" href="https://www.benzinga.com/news/24/09/40928754/what-has-taiwan-semiconductor-stock-done-since-nvidia-earnings" rel="noreferrer noopener">artificial intelligence frenzy</a>, which it also voiced at the Semicon Taiwan industry forum in Taipei.
Recent reports also indicated Taiwan Semiconductor bagging at least two smartphone chip deals concerning 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>) Google, and Apple. Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) Samsung Foundry recently lost out on the Pixel 10 and Pixel 11 chip deals to Taiwan Semiconductor&#8217;s chipmaking technology.
A separate report indicated that Taiwan Semiconductor has started making Apple&#8217;s iPhone chip A16 SoC at the Arizona unit, leveraging its 5nm N4 technology.
Taiwan Semiconductor stock has risen 90% in the last 12 months. Investors can gain exposure to semiconductor stocks through&nbsp;the VanEck Semiconductor ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and&nbsp;the&nbsp;iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>).
Price Action:&nbsp;TSM stock is up 3.88% at $173.78 at the last check on Thursday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/m-a/24/09/40926078/nvidia-considers-165m-octoai-acquisition-aims-to-strengthen-ai-and-cloud-dominance" target="_blank" rel="noreferrer noopener">Nvidia Considers $165M OctoAI Acquisition, Aims to Strengthen AI and Cloud Dominance</a></li>
</ul>
Photo by Sundry Photography on Shutterstock

Movers

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

SSNLF

What's Going On With Taiwan Semiconductor Stock On Thursday?

Semiconductor stocks especially the ones linked to artificial intelligence technology led by Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Super Micro Computer, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) picked up after the U.S. Federal Reserve cut <a target="_blank" href="https://in.benzinga.com/markets/equities/24/09/40932103/it-stocks-on-the-rise-after-u-s-fed-cuts-interest-rate" rel="noreferrer noopener">benchmark interest rate</a> to spur growth.
The U.S. Federal Reserve decided to cut its benchmark interest rate by 50 basis points in a first since 2020, setting the interest rate at 4.75% and 5%. The cut is expected to boost discretionary spending by the companies.
The rate cut will be a welcome move, as semiconductor companies have invested heavily in Big Tech (including Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Google parent 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>)) spending on their artificial intelligence ambitions, which entail substantial capital expenditures.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40926422/super-micro-poised-for-expansion-as-gross-margin-concerns-ease-internal-control-risks-priced-in-anal" rel="noreferrer noopener">Super Micro Poised for Expansion as Gross Margin Concerns Ease, Internal Control Risks Priced In: Analyst</a>
The semiconductor companies are also under pressure due to the U.S. sanctions on China, a crucial market. Therefore, U.S. investors and the semiconductor chiefs closely watch the agenda of the next President, expecting a softer stance on China.
As per <a target="_blank" href="https://www.benzinga.com/news/24/09/40790177/harris-vs-trump-us-stocks-face-growing-risks-amid-economic-uncertainty-and-upcoming-presidential-ele" rel="noreferrer noopener">a CNBC survey</a>, Republican candidate Donald Trump appeared to be an investor favorite as the S&amp;P 500 and Nasdaq noted significant upside during Trump's tenure as President.
However, the current Biden administration has started doling out semiconductor grants to the companies to consolidate its position.
Contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), a crucial AI chip supplier for U.S. semiconductor companies, remains hugely invested in <a target="_blank" href="https://www.benzinga.com/news/24/09/40928754/what-has-taiwan-semiconductor-stock-done-since-nvidia-earnings" rel="noreferrer noopener">its Arizona fab construction</a> to produce AI chips after bagging U.S. chip subsidies. It recently secured two smartphone chip deals from Google and Apple.
Price Actions: NVDA stock is up 3.16% at $116.95 premarket at last check Thursday. AMD is up 3.74% at $153.84, AVGO is up 3.45% at $167.25, SMCI is up 3.00% at $450.00, TSM is up 2.80% at $171.97, INTC is up 2.31% at $21.25, ARM is up 3.78% at $143.59.
Photo via Shutterstock

AVGO

INTC

SMCI

What's Going On With AI Related Stocks Nvidia, AMD, Broadcom And Super Micro On Thursday?

On CNBC's <a href="https://www.cnbc.com/video/2024/09/18/final-trades-energy-transfer-trade-desk-alphabet-and-general-motors.html">&#8220;Halftime Report Final Trades,&#8221;</a> Jim Lebenthal said General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) benefits from rate cuts.
General Motors, last week, agreed to explore collaboration with Hyundai Motor and expand its partnership with EVgo by installing 400 fast-charging stalls at key locations in major U.S. metropolitan areas. Additionally, the company is reportedly in talks to buy Chinese batteries made in the U.S. through its <a href="https://www.benzinga.com/markets/penny-stocks/24/09/40905775/gm-and-hyundai-join-forces-to-boost-competitiveness-and-improve-efficiency">partnership with Japan's TDK</a>.
Bryn Talkington of Requisite Capital Management named Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>), an energy play, which is up 16% year-to-date. The company also has a dividend<a href="https://www.benzinga.com/quote/ET/analyst-ratings"> yield of 8%, she added</a>.
On Wednesday, UBS analyst Shneur Gershuni maintained Energy Transfer with a Buy rating and raised the price target from $22 to $23.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Joseph M. Terranova of Virtus Investment Partners said The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), is pushing back to its Nov. 2021 all-time high level.
On Sept. 13, Wedbush analyst Scott Devitt maintained Trade Desk with an Outperform rating and raised the price target from $110 to $115.
Stephen Weiss of Short Hills Capital Partners said 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>) is still undervalued.
Alphabet Google won its appeal against the European Commission&#8217;s €1.49 billion ($1.66 billion) antitrust fine for anticompetitive practices involving its online search advertising business. Luxembourg-based General Court delivered a reprieve to Google, nullifying the line about the $1.66 billion penalty in the European Commission&#8217;s five-year-old <a href="https://www.benzinga.com/24/09/40915828/google-wins-1-7b-eu-antitrust-fine-appeal-over-5-year-old-online-search-advertising-case">order against the search giant, reported Reuters.</a>
Price Action:
<ul>
<li>Energy Transfer gained 0.6% to close at $16.11 during Wednesday's session.</li>
<li>Trade Desk shares gained 2.1% to settle at $108.02 on Wednesday.</li>
<li>Alphabet shares gained 0.3% to close at $160.81 during Wednesday's session.</li>
<li>General Motors shares gained 2.4% to settle at $48.66 on Wednesday.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/markets/24/09/40927530/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>
Image: Shutterstock

Long Ideas

General Motors, Alphabet, Trade Desk And An Energy Stock On CNBC's 'Final Trades'

Oracle Corp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) CloudWorld in Las Vegas had no shortage of artificial intelligence (AI) buzz, but investors hoping for a quick windfall might need <a href="https://www.benzinga.com/quote/ORCL/news">to temper expectations</a>.
JPMorgan analyst Tien-tsin Huang, who attended the event, noted that while Oracle's multi-cloud advancements are laying the groundwork for the future, the immediate impact on revenues is still uncertain.
"We saw numerous examples of high-value AI-driven tech services," Huang stated, highlighting the long-term potential of AI in transforming enterprise workflows. 
However, he remains cautious about the near-term outlook, adding, "Near-term demand improvement remains elusive," despite growing client interest in AI.
<h2 class="wp-block-heading">Oracle Makes A Big Move</h2>
Oracle's big move at CloudWorld was its announcement of Oracle Database (ODB) on AWS, building on similar launches with Microsoft Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure and Alphabet Inc&#8216;s (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>) Google Cloud.
This multi-cloud push, Huang believes, is a critical strategy for companies looking to "maximize the value of GenAI" by optimizing data across different platforms.
Read Also: <a href="https://www.benzinga.com/startups/24/09/40922366/oracles-larry-ellison-briefly-became-wealthier-than-jeff-bezos-heres-how-his-fortune-outpaced-amazon">Oracle&#8217;s Larry Ellison Briefly Became Wealthier Than Jeff Bezos. Here&#8217;s How His Fortune Outpaced Amazon&#8217;s Founder</a>
<h2 class="wp-block-heading">Yet To See Material Revenue Momentum</h2>
Yet, the short-term demand for tech services in AI remains lukewarm. "We did not sense that any have achieved material revenue momentum in the category," Huang observed, signaling that while enterprise clients are interested in AI, the financial payoff might still be a few quarters away.
<h2 class="wp-block-heading">Accenture: A Secular Winner</h2>
Long-term, Huang is optimistic about Oracle and its tech services partners, particularly Accenture PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), which he sees "as a secular winner" in helping companies customize and optimize generative AI solutions for business processes.
As companies transition to a more interoperable, multi-cloud environment, the opportunities for AI and tech services will grow, but patience is key.
For now, investors should keep their eyes on the big picture, as the immediate AI windfall for Oracle might take some time to materialize.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/m-a/24/09/40926078/nvidia-considers-165m-octoai-acquisition-aims-to-strengthen-ai-and-cloud-dominance">Nvidia Considers $165M OctoAI Acquisition, Aims to Strengthen AI and Cloud Dominance</a></li>
</ul>
Image: Shutterstock

ORCL

Oracle CloudWorld Highlights 'AI-Driven Tech Services,' But Revenue Growth Requires Patience: Analyst

The Nasdaq 100 closed lower by around 0.5% during Wednesday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Alphabet</h3>
<ul>
<li>The Trade: Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) CEO Sundar Pichai <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 22,500 shares</a> at an average price of $160.63. The insider received around $3.61 million from selling those shares.</li>
<li>What's Happening: Alphabet's Google won its appeal against the European Commission&#8217;s €1.49 billion ($1.66 billion) antitrust fine for anticompetitive practices involving its online search advertising business.</li>
<li>What Alphabet Does: Alphabet is a holding company that wholly owns internet giant Google.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"> latest GOOG new</a>s. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="910" height="830" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044828/image-145.png" alt="" class="wp-image-555611" style="width:716px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044828/image-145.png 910w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044828/image-145-300x274.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044828/image-145-768x700.png 768w" sizes="(max-width: 910px) 100vw, 910px" /></a></figure>
<h3 class="wp-block-heading">Williams-Sonoma</h3>
<ul>
<li>The Trade: Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) President and CEO Laura Alber <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 40,000 shares</a> at an average price of $145.27. The insider received around $5.8 million from selling those shares.</li>
<li>What's Happening: On Sept. 16, TD Cowen analyst Max Rakhlenko maintained Williams-Sonoma with a Buy and raised the price target from $150 to $160.</li>
<li>What Williams-Sonoma Does: With a retail and direct-to-consumer presence, Williams-Sonoma is a player in the $300 billion domestic home category and $450 billion international home market, focused on expanding its exposure in the B2B ($80 billion total addressable market), marketplace, and franchise areas. </li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"> trend in WSM stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="927" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044933/image-146.png" alt="" class="wp-image-555616" style="width:705px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044933/image-146.png 927w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044933/image-146-300x271.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19044933/image-146-768x693.png 768w" sizes="(max-width: 927px) 100vw, 927px" /></a></figure>
<h3 class="wp-block-heading">Ross Stores</h3>
<ul>
<li>The Trade: Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) Group President, COO Michael J. Hartshorn <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 8,366 shares</a> at an average price of $155.64. The insider received around $1.3 million from selling those shares.</li>
<li>What's Happening: On Aug. 22, Ross Stores reported better-than-expected second-quarter financial results and raised its FY24 EPS guidance with its midpoint above estimates.</li>
<li>What Ross Stores Does: Ross Stores operates as an off-price apparel and accessories retailer with the majority of its sales derived from its Ross Dress for Less banner. </li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">breakout in ROST</a> shares. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="875" height="841" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045018/image-147.png" alt="" class="wp-image-555619" style="width:630px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045018/image-147.png 875w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045018/image-147-300x288.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045018/image-147-768x738.png 768w" sizes="(max-width: 875px) 100vw, 875px" /></a></figure>
<h3 class="wp-block-heading">McDonald&#8217;s</h3>
<ul>
<li>The Trade: McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) Chairman and CEO Christopher J Kempczinski <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 3,934 shares</a> at an average price of $300.00. The insider received around $1.2 million from selling those shares.</li>
<li>What's Happening: On Sept. 16, JP Morgan analyst John Ivankoe maintained McDonald&#8217;s with an Overweight and raised the price target from $270 to $290.</li>
<li></li>
<li>What McDonald&#8217;s Does: McDonald&#8217;s is the largest restaurant owner-operator in the world, with 2023 system sales of $130 billion across nearly than 42,000 stores and 115 markets. </li>
<li>Benzinga Pro's earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">MCD&#8217;s earnings repor</a>ts. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="860" height="813" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045124/image-148.png" alt="" class="wp-image-555620" style="width:601px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045124/image-148.png 860w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045124/image-148-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19045124/image-148-768x726.png 768w" sizes="(max-width: 860px) 100vw, 860px" /></a></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40925678/fedex-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-an">FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Insider Trades

Pre-Market Outlook

ROST

Alphabet, McDonald's And 2 Other Stocks Executives Are Selling

A Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull on Wednesday weighed in on the relationship between the electric-vehicle company led by Elon Musk and the <a href="https://www.benzinga.com/news/24/09/40767621/elon-musk-refutes-reports-of-xai-negotiating-revenue-share-deal-with-tesla-there-is-no-need-to-licen">billionaire&#8217;s artificial intelligence company xAI. </a>
The Tesla Analyst: Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310 price target for Tesla shares. 
The Tesla Thesis: Training and simulation are the common denominators between Tesla and xAI, and these two are &#8220;deterministic&#8221; to Tesla&#8217;s future in robotics, autonomy and manufacturing, said Jonas in a note. AI execution is vital to Tesla&#8217;s upside, the analyst said, adding that the Musk-led company&#8217;s future valuation is highly dependent on its ability to develop, manufacture and commercialize autonomous technologies, ranging from transportation to humanoids.
The analyst also noted that training and simulation have been revolutionizing robots as accessing supercomputing resources for training and simulation is critical to optimizing autonomous software/models and hardware.
He said that xAI was established to attract top-tier AI talent who might not otherwise be interested in working for Tesla, the electric vehicle company. The AI company is investing billions of dollars toward assembling advanced computing resources which is beneficial to Tesla, he added.
Jonas noted that xAI&#8217;s massive compute cluster named Colossus has recently been brought online in the Memphis area, and it consists of 100,000 Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100s. Musk plans to double it to 200,000 H100 equivalent, he said.
Tesla&#8217;s rival in robotaxi operations, Alphabet, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo, has been aggressively expanding its fleet size, city deployments and technological/ network partnerships of late, Jonas said. &#8220;Waymo's recent resurgence is a reminder to investors that the road to AV supremacy is a race for data, computing, capital and talent,&#8221; he said.
See Also: <a href="https://www.benzinga.com/money/how-to-buy-tesla-stock">How To Buy Tesla (TSLA) Stock</a>
Sneak-Peek Into Robotaxi Day: Jonas raised doubts about Tesla living up to investors&#8217; high expectations as he does not see anything beyond a demo of the FSD v12.5 software and a ride in a generation 1 Cybercab. The company could share a detailed analysis of the addressable market, showing &#8220;tens of trillions of passenger vehicle miles and tens of trillions of $ of potential recurrent revenue (by 2050),&#8221; the analyst said.
Looking ahead to the Oct. 10 event, the analyst said he would look out for reinforcement regarding safety, which can be through comparing the safety of Tesla&#8217;s autonomous vehicle technology with human driving. Tesla may also have to show the rate of change of performance across recent full self-driving iterations, he said.
Investors will also look forward to the methodology, i.e. how the critical enabling technologies will likely drive further improvement in FSD/Cybercab autonomy, Jonas said. The Morgan Stanley analyst, however, does not expect Tesla to announce updates regarding its<a href="https://www.benzinga.com/news/24/07/39880470/elon-musk-pushes-back-optimus-timeline-says-teslas-humanoid-robot-will-hopefully-be-available-for-ot"> Optimus humanoid robot</a> at the event.
Tesla ended Wednesday&#8217;s session down 0.29% to $227.20, according to <a href="https://benzinga.grsm.io/register174">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:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40750932/tesla-bull-asks-investors-to-temper-expectations-concerning-robotaxi-day-but-reiter">Tesla Bull Asks Investors To Temper Expectations Concerning Robotaxi Day, But Reiterate Stock As Top Auto Pick: &#8216;Continues To Take Steps To Mitigate Downside Risks&#8217;</a></li>
</ul>
Image via Shutterstock

Reiteration

Analyst Ratings

Tesla Bull Explains Why Elon Musk's xAI Is Critical To EV Maker's Autonomous Ambitions

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) stock lost 4% in the last 30 days. Last month saw volatility as Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) released its quarterly print and more.
The VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), representing the semiconductor industry, have lost ~7% in the last 30 days. Now, let&#8217;s run down the events for Taiwan Semiconductor since Nvidia released its quarterly print.
On August 28, Nvidia reported <a target="_blank" href="https://www.benzinga.com/trading-ideas/24/08/40652614/nvidia-shatters-revenue-records-with-a-staggering-30-billion-quarter-yet-sees-stock-prices-slide-se" rel="noreferrer noopener">second-quarter topline</a> growth of 122% to $30.04 billion, quashing the&nbsp;analyst consensus of $28.68 billion.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18135430/newplot-14.png" alt="" class="wp-image-554700" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18135430/newplot-14.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18135430/newplot-14-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40897994/whats-going-on-with-intel-stock-on-tuesday" rel="noreferrer noopener">Intel Looks To Restructure Foundry Business, Bags Major US Deal and Government Grants</a>
The company projected third-quarter revenue of $31.85 billion—$33.15 billion, versus the consensus of $31.77 billion.
Still, the stock dropped by <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40614118/nvidia-leads-semiconductor-stocks-lower-following-q2-earnings-what-investors-need-to-know" rel="noreferrer noopener">6% in after-hours trading</a>, sending semiconductor stocks, including Taiwan Semiconductor, Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Super Micro Computer, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), down as the print failed to impress the Street.
The semiconductor sector selloff <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40684198/nvidia-tsmc-lead-chip-stocks-lower-in-premarket-whats-going-on" rel="noreferrer noopener">continued in September</a>, with U.S.-China geopolitical tensions intensifying due to the Western counterpart&#8217;s artificial intelligence technology embargo on the Asian counterpart.
Meanwhile, Taiwan Semiconductor remained invested in solidifying its moat by <a target="_blank" href="https://www.benzinga.com/news/24/09/40686890/apple-nvidia-key-supplier-tsmc-leads-taiwanese-chip-giants-to-localize-neon-gas-production-by-2025" rel="noreferrer noopener">localizing neon gas production</a>, a key chipmaking material disrupted by the Ukraine war, and fast-tracking the development of silicon photonics to address the energy and data transmission speeds <a target="_blank" href="https://www.benzinga.com/news/24/09/40687807/whats-going-on-with-taiwan-semiconductor-stock-on-tuesday" rel="noreferrer noopener">needed by AI computing</a>.
Taiwan Semiconductor <a target="_blank" href="https://www.benzinga.com/news/24/09/40711613/taiwan-semiconductor-bets-on-ai-growth-surge-samsung-joins-ai-optimism-in-trade-show" rel="noreferrer noopener">projected a 50%</a> growth in AI accelerators at the Semicon Taiwan industry forum in Taipei despite concerns over the sustainability of the AI frenzy, which is sending jitters across the market. Broadcom Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) quarterly print and guidance did little to contain <a target="_blank" href="https://www.benzinga.com/news/24/09/40754938/semiconductor-etfs-take-a-beating-dragged-lower-by-nvidia-amd-and-broadcom-stocks" rel="noreferrer noopener">the semiconductor selloff</a>.
On the brighter side, reports indicated that the contract chipmaker&#8217;s production yield at the Arizona facility is at par with<a target="_blank" href="https://www.benzinga.com/government/24/09/40773084/taiwan-semiconductors-us-plant-matches-taiwan-production-yields-stock-gains" rel="noreferrer noopener"> its Taiwan facilities</a>.
Taiwan Semiconductor reported <a target="_blank" href="https://www.benzinga.com/news/24/09/40790997/taiwan-semiconductors-strong-august-sales-hint-at-big-gains-ahead-ai-and-iphone-demand-fuel-optimism" rel="noreferrer noopener">33% topline growth</a> in&nbsp;August 2024, testimony to the smartphone market recovery and continued demand for&nbsp;Nvidia AI chips. Analysts expect third-quarter revenue growth of 37%.
Some of Taiwan Semiconductors key September wins included a 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>) Google smartphone deal&nbsp;involving <a target="_blank" href="https://www.benzinga.com/news/24/09/40833611/google-picks-taiwan-semiconductor-for-pixel-chips-samsung-loses-key-deal-report" rel="noreferrer noopener">Pixel 10 and Pixel 11 chips</a> and Apple Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) A16 chip at <a target="_blank" href="https://www.benzinga.com/news/24/09/40920976/taiwan-semiconductor-begins-production-of-apple-a16-smartphone-chips-at-arizona-facility-report" rel="noreferrer noopener">its Arizona Fab</a>.
Taiwan Semiconductor is up over 90% in the last 12 months as it led the&nbsp;global foundry market, commanding a 62% share in the <a target="_blank" href="https://www.benzinga.com/news/24/09/40711613/taiwan-semiconductor-bets-on-ai-growth-surge-samsung-joins-ai-optimism-in-trade-show" rel="noreferrer noopener">second quarter of 2024</a>.
Price Action: TSM stock closed at $167.28 on Wednesday.
Image via Shutterstock

What has Taiwan Semiconductor Stock Done Since Nvidia Earnings?

Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has raised the <a href="https://www.benzinga.com/markets/equities/24/09/40912814/amazon-told-its-staff-they-must-come-to-office-five-days-a-week-but-its-primary-healthcare-subsi">pay for hourly workers</a> at its U.S. fulfillment centers and transportation operations, the retail giant announced on Wednesday.
&#8220;Earlier today,&nbsp;I visited one of our sites near Salt Lake City to share some news with our teammates there—that we're making a significant new investment in pay and benefits for the hourly front-line employees across our fulfillment and transportation network,&#8221; Udit Madan, vice president of Amazon Worldwide Operations, wrote in the company&#8217;s newsletter.
He said Amazon&#8217;s front-line team will receive an hourly pay raise of $1.50 starting this month to bring the average base wage to $22 per hour. This will bring average total compensation, which includes benefits, to $29 per hour, he said.
&#8220;This is an increase of $3,000 a year on average for full-time employees who work a 40-hour week,&#8221; he wrote.
Read Also: <a href="https://www.benzinga.com/news/large-cap/24/09/40904271/whats-going-on-with-amazon-stock">What&#8217;s Going On With Amazon Stock?</a>
&#8220;And as one of the largest private employers in the country (we now have more than 800,000 people in these roles across the U.S.), this pay increase equals a total investment of more than $2.2 billion in our team.&#8221;
Amazon&#8217;s benefits include pre-paid college tuition, flexible working hours, a Prime membership, health insurance from the first day on the job and dental coverage.
&#8220;As I told the team this morning, this is just one way to say thank you for all they do,&#8221; Madan wrote.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) and Google, which is owned by 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>) offer <a href="https://www.benzinga.com/news/23/06/32679188/silicon-valleys-salary-showdown-unveiling-how-much-top-talent-at-apple-microsoft-and-google-get-paid-1">six-figure salaries</a> for managers and engineers.
Just over a year ago, the United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) and the Teamsters Union ratified a <a href="https://www.benzinga.com/news/large-cap/23/08/33995076/ups-and-teamsters-seal-the-deal-ensures-170-000-per-year-for-drivers-the-next-5-years">five-year contract</a> that ensures $170,000 per year for drivers over the next five years.
Price Action: Amazon gained 0.1% to $187.11 at the time of publication Wednesday.
Exchange-traded funds that hold the stock also trended upward.
<ul>
<li>ProShares Online Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONLN#NYSE">ONLN</a>) gained 1.32%.</li>
<li>Fidelity MSCI Consumer Discretionary Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>) rose 0.72%.</li>
<li>Vanguard Consumer Discretionary ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCR#NYSE">VCR</a>) went up 0.81%.</li>
<li>Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) gained 0.67%.</li>
<li>ProShares Long Online/Short Stores ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLIX#NYSE">CLIX</a>) ticked up 0.68%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/09/40887347/amazon-to-cut-management-layers-end-work-from-home">Amazon To Cut Management Layers, End Work From Home</a></li>
</ul>
Photo: Shutterstock

CLIX

Select Sector SPDR-Consumer Discretionary

Amazon Joins UPS In Raising Hourly Pay As Worker Compensation Trends Upward

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is considering acquiring the OctoAI startup for $165 million to boost its software and cloud computing services.
According to the Information, which <a target="_blank" href="https://www.theinformation.com/articles/nvidia-recently-discussed-acquiring-software-startup-octoai-for-165-million" rel="noreferrer noopener">cites</a> shareholders&#8217; messages, the startup sells software designed to enhance the efficiency of artificial intelligence models.
OctoAI raised $132 million from investors, including Tiger Global, which was valued at $900 million in 2021.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40909973/blackrock-microsoft-others-team-up-for-30b-artificial-intelligence-fund-help-us-fuel-ai-innovation-a" rel="noreferrer noopener">BlackRock, Microsoft, Others Team Up For $30B Artificial Intelligence Fund: Help US Fuel &#8216;AI Innovation And Economic Growth&#8217;</a>
In March, OctoAI tapped Nvidia to usher in optimized generative AI <a target="_blank" href="https://octo.ai/blog/octoai-collaborates-with-nvidia-nim-to-bring-optimized-generative-ai-to-enterprises/" rel="noreferrer noopener">models for enterprises</a>.
OctoAI integrated NVIDIA NIM (which refers to inference microservices for accelerating the deployment of foundation models on any cloud or data center) into its generative AI platform to serve customer use cases, including language and image generation. Additionally, developers could experiment with inference-optimized models.
Nvidia is up 163% in the last 12 months, as its Graphics Processing Units (GPUs) remain indispensable to Big Techs like Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Google parent Alphabet Inc&#8217;s (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>) dream of accomplishing its AI ambitions.
Nvidia chief Jensen Huang voiced his conviction <a target="_blank" href="https://www.benzinga.com/news/24/09/40888647/nvidias-ai-surge-powers-25-of-s-p-500-gains-in-2024-makes-co-founder-huang-among-fastest-growing-rep" rel="noreferrer noopener">in the AI frenzy</a>, expecting hyper-scale customers to produce&nbsp;$5 in rental revenue&nbsp;for every $1 spent on Nvidia&#8217;s infrastructure.
Some significant hyper-scaler collaborations by Nvidia include Amazon and Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), which BofA Securities analyst Justin Post expects will unlock <a target="_blank" href="https://www.benzinga.com/news/24/09/40800539/amazon-and-oracle-partnership-unlocks-major-cloud-growth-opportunity-analyst-suggests" rel="noreferrer noopener">significant cloud opportunities</a>.
Price Action: NVDA stock is up 1.02% to $116.77 at the last check on Wednesday.
Image via Shutterstock

Nvidia Considers $165M OctoAI Acquisition, Aims to Strengthen AI and Cloud Dominance

Apple-EU potential tussle over opening OS not likely to have immediate impact: SA analysts

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In a report released today, Mark Mahaney from Evercore ISI maintained a Buy rating on Alphabet Class A (GOOGL – Research Report), with a price targ...

Alphabet Class A (GOOGL) Receives a Rating Update from a Top Analyst

Janus Henderson Balanced Fund Q2 2024 Commentary

Janus Henderson Global Technology And Innovation Fund Q2 2024 Commentary

Janus Henderson Triton Fund Q2 2024 Commentary

EU working on fresh warning for Google over search practices across its services - report

Apple's new devices are on sale. What questions are investors still asking?

Uber's Biggest Weakness Just Became Its Biggest Strength (Double Rating Upgrade)

Insider trades: Notable buys and sells by significant shareholders, executives and directors

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Emerging Market ETFs

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The Risks And Rewards Of Betting Big On AI &amp; Big Data

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ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF

NVDX

Nvidia Is Up Over 150% YTD, But Some Are Flagging Risks – Trade Your Expectation Either Way With REX Shares Leveraged ETFs

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Commodities

Global Markets Plunge: Why Gold Shines Amid Recession Fears

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CSE:PURR

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Panther Minerals (OTC: GLIOF) May Be Poised To Benefit Amid Nuclear Power Push For AI Data Center Growth

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PINS

MoneyLion Appoints Veteran Pinterest And Google Leader Jon Kaplan As Chief Revenue Officer

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Movers & Shakers

CACI

Contractor+ Is Leveling The Playing Field, Turning The Construction Industry On Its Head With Its Potentially Game-Changing AI-Driven App

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COPP

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AI Data Center Power Requirements Increasing Demand For Critical Materials Like Copper And Uranium

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Emerging Markets

BNAI

Beyond Big Tech - How Brand Engagement Network (NASDAQ: BNAI) Is Shaping The Future Of AI

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