Arm Holdings (NASDAQ:ARM) – SoftBank is
collaborating with Arm to develop AI chips, aiming to start mass
production in 2025. SoftBank is financially contributing,
negotiating with manufacturers like TSMC
(NYSE:TSM).
Amazon (NASDAQ:AMZN) – France secured new jobs
and investments on Sunday before hosting a foreign investment
summit. Macron led the ‘Choose France’ event, aiming to strengthen
Paris as a business hub. Amazon announced a $1.3 billion investment
in its French operations, creating 3,000 jobs. The investment is
aimed at expanding cloud computing infrastructure, boosting the
country’s AI industry.
Microsoft (NASDAQ:MSFT) – Microsoft announced a
$4.3 billion investment in France during the ‘Choose France’
business summit. Vice President Brad Smith highlighted that a
significant portion would be dedicated to artificial intelligence,
including building a data center in Mulhouse. In Delaware, USA, a
federal jury ordered Microsoft to pay $242 million to IPA
Technologies for patent infringement, claiming its virtual
assistant Cortana infringed an IPA patent. Microsoft plans to
appeal.
Morgan Stanley (NYSE:MS) – Morgan Stanley plans
to increase its Paris staff to 500 by 2025, adding 100 employees.
The French Finance Minister, Bruno Le Maire, will hold meetings
today with CEOs from JPMorgan (NYSE:JPM),
Goldman Sachs (NYSE:GS), Morgan
Stanley, and Bank of America
(NYSE:BAC).
Pfizer (NYSE:PFE), AstraZeneca
(NASDAQ:AZN) – Pfizer and AstraZeneca announce investments of
nearly $1 billion in France, targeting research and expansion.
Pfizer plans to allocate $538.5 million to boost research and
development in France, while AstraZeneca announces a $388 million
investment in its facility in Dunkirk, France.
Taiwan Semiconductor Manufacturing Co.
(NYSE:TSM) – The newly-elected governor of Kumamoto, southwestern
Japan, seeks to attract TSMC to build its third chip factory in the
region, addressing concerns about water shortages. In an interview,
Takashi Kimura mentioned that concerns about underground water
shortages when TSMC’s two factories begin operating in Kikuyo in
the province have raised discussions about utilizing unused dam
water. Committed to providing extensive support, he plans to visit
TSMC’s headquarters in Taiwan to discuss the project.
Apple (NASDAQ:AAPL) – Apple has reached an
agreement with OpenAI to integrate the startup’s technology into
the iPhone, as part of its strategy to enhance AI capabilities.
OpenAI’s ChatGPT could be incorporated into iOS 18, with
negotiations also underway with Google. These new features will be
unveiled at the Worldwide Developers Conference in June,
highlighting Apple’s edge in AI. Meanwhile, in Towson, Maryland,
Apple store workers considered striking over concerns about
work-life balance, unpredictable schedules, and wages. Apple stated
it would treat the union respectfully. Additionally, British
newspapers warned Apple about the financial risks of the “web
eraser,” a tool that blocks ads in the iOS 18 Safari browser. The
News Media Association expressed concerns about the impact on
digital revenues and editorial accountability. Meanwhile, in the
legal dispute with Epic Games, Apple launched external payment
options for apps on its App Store, but no major developer joined
due to high fees. Judge Yvonne Gonzalez Rogers criticized the lack
of interest, indicating that Apple’s business model remains
unchanged. The case continues in court.
OpenAI – OpenAI will reveal product updates via
a live stream on Monday, dispelling speculations about a new search
engine. Instead, the focus will be on enhancements to its ChatGPT
and GPT-4 AI model. CEO Sam Altman hinted at promising new
features.
Snap Inc (NYSE:SNAP) – At the Bloomberg
Technology Summit, Snap Inc. CEO Evan Spiegel expressed the
company’s commitment to prioritizing user safety, especially for
children. Snapchat emphasizes connections with real friends, avoids
public likes, and promotes personal interactions. Spiegel advocated
for a comprehensive framework to address online safety issues.
Equinor ASA (NYSE:EQNR) – Equinor ASA, the
Norwegian oil and gas giant, has gained prominence in Europe,
supplying 30% of the continent’s gas. As reliance on Russian gas
decreases, concerns arise about long-term reliability and
environmental impact, even as the transition to cleaner energies
occurs.
Hess Corp (NYSE:HES), Chevron
(NYSE:CVX) – Senate Majority Leader Chuck Schumer urged the Federal
Trade Commission to restrict the proposed acquisition of Hess Corp
by Chevron, valued at $53 billion. He argued that the deal could
lead to higher gas prices for consumers.
Lucid Group (NASDAQ:LCID), NIO
(NYSE:NIO), Li Auto (NASDAQ:LI), Rivian
Automotive (NASDAQ:RIVN), Zeekr Intelligent
Technology (NYSE:ZK) – President Joe Biden plans to
increase tariffs on Chinese electric vehicles and other industries.
Tariffs on Chinese EVs will jump to 102.5%, while others will
double or triple. Biden and his team finalized the measures,
targeting key sectors including electric vehicles, steel, and
aluminum, to protect the US from Chinese competition.
Honda Motor (NYSE:HMC) – Honda will increase
its research and development spending by nearly 25% this year,
focusing on electric vehicles to boost its competitiveness.
Additionally, it announced a share buyback of up to $1.93 billion
after exceeding earnings estimates last quarter, driven by the US
market.
Zeekr Intelligent Technology (NYSE:ZK) – Shares
of the Chinese electric vehicle manufacturer rose 35% on Friday,
surpassing its IPO price of $21, closing at $28.26. The company
raised $441 million from the sale of 21 million shares, exceeding
expectations. Despite impending tariffs on Chinese imports, the
company seeks to stand out globally. Its delivery numbers surpassed
competitors, with 49,148 vehicles delivered by April.
Ford Motor (NYSE:F) – John Lawler will step
down as CFO of Ford for Sherry House in 2025. Lawler will take on
new responsibilities within the company. House, with experience at
Lucid, Waymo, and General Motors, will be the new Vice President of
Finance at Ford, strengthening its electric vehicle strategy.
Additionally, Ford plans to manufacture a new partially electric
car at its factory in Valencia, Spain, starting in 2027, aiming to
produce 300,000 units annually, according to Reuters. According to
Bloomberg on Friday, Ford is cutting battery orders, adapting to
growing losses in electric vehicles and adjusting its EV strategy
to reduce expenses, delaying launches, and scaling down battery
factory production.
Tesla (NASDAQ:TSLA) – Tesla announced a new
financing rate of 0.99% per year for purchasing new Model Y
vehicles, a significant reduction from the previous rate of 6.49%.
This change may stimulate sales but suggests a price-cutting
strategy amid a slowdown in electric vehicle demand. Additionally,
protests continue at Tesla’s factory in Germany, where activists
are fighting against expansion that threatens the surrounding
forest. After 16 arrests for vehicle damage and road blockages,
police reported several injuries, including 21 officers. The
factory, employing 12,000 people, has faced resistance since
2019.
Blink Charging Company (NASDAQ:BLNK) – Blink
Charging, a provider of electric vehicle charging equipment,
suggested that news about Tesla’s Supercharger unit has not
impacted its business. CEO Brendan Jones stated that the overall
demand for EVs is not declining, especially outside Tesla. Blink
reported first-quarter total revenue of $37.6 million, representing
a 73.3% increase from the previous year. Product sales rose 68%,
reaching $27.5 million, while service revenue increased 72%,
hitting $8.2 million. Blink’s shares have fallen 16.8% this
year.
Nike (NYSE:NKE) – Basketball star A’ja Wilson
will have her own Nike sneakers, revealed at a game in South
Carolina. After more than a year of collaboration, the collection
will also include apparel. Wilson hopes to inspire other girls with
the sneakers, developed with her style and game in mind.
McDonald’s (NYSE:MCD) – McDonald’s plans to
launch a $5 meal offer in the US, aiming to win back
price-conscious customers. The promotion, which would include a
McChicken or McDouble with fries and a drink, aims to reverse the
decline in sales triggered by price concerns.
Live Nation Entertainment (NYSE:LYV) – Live
Nation is set to meet with the US Department of Justice to try to
avoid an antitrust lawsuit that could lead to the company’s
breakup. The antitrust division recommended action against
Ticketmaster, but Live Nation argues against separation.
GameStop (NYSE:GME) – Keith Gill, known as
Roaring Kitty, made his first post in three years on the platform
X. Gill, famous for boosting the company’s shares in 2020,
indicated his interest in GameStop’s shares, which rose
approximately 70% in May. GameStop’s shares were up 18.3% in
pre-market trading.
Bristol Myers Squibb (NYSE:BMY) – On Friday,
Bristol Myers Squibb announced that a study of its combination
cancer treatments did not meet the primary goal of prolonging
progression-free survival. The company plans to review the data and
collaborate with investigators to disclose the results to the
scientific community. Its shares fell 1% in pre-market trading.
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