最新ニュース XChange Tec (NASDAQ:XHG) 株価情報

XChange Tec

XChange Tec Inc, through its subsidiaries operates in insurance agency and insurance technology business. The company specialized in distributing automobile insurance policies at the earlier stage of business and subsequently expanded insurance product portfolio to include other types of insurance including life, health, group accident and other property related insurances. A maximum of the insurance purchased through platform and agency services is of automobile insurance.

XChange TEC.INC - American Depositary Shares

XChange Tec Inc

The combined entity's aggregate market value is expected to be $2.1 billion (approximately 7.7 billion ILS), a valuation that would place it among the largest publicly traded IT services companies in the U.S and in Europe. Had the Companies already merged in 2024, the combined entity would have reported the following results in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board:
<ul>
<li>Revenues: $2.1 billion.</li>
<li>Gross profit: approximately $382 million (Gross margin: 18.6%).</li>
<li>Operating income: approximately $183 million (Operating margin: 8.9%).</li>
<li>Net income attributable to non-controlling interests: approximately $110.6 million (Net margin: 5.4%).</li>
</ul>
The combined entity is expected to operate in approximately 50 countries, serve around 6,000 active clients, and employ over 15,000 employees.

News

MGIC

Reported Earlier, Magic Software And Matrix I.T Sign MOU For Strategic Merger To Form $2.1B Global IT Services Leader

<ul>
<li>Pro forma year-end cash now over $700 million</li>
<li>At-the-Market Program has been terminated</li>
</ul>

IONQ

Reported Earlier, IonQ Raises Over $372M Through At-The-Market Offering, Boosts Pro Forma Year-End Cash To $700M

The offering is expected to close on March 12, 2025, subject to customary closing conditions. The Selling Stockholder granted the underwriters a 30-day option to purchase up to 6,750,000 additional shares of Class A Common Stock.

PRMB

Reported Earlier, Primo Brands Prices 45M Share Secondary Offering By One Rock Capital Affiliate At $29.50/Share, With Company Repurchasing 4M Shares

Glauber Contessoto, popularly known as SlumDOGE Millionaire, posted a series of optimistic takes on the cryptocurrency market on Monday, in stark contrast to the ongoing meltdown.
What happened: Contessoto took to X, saying, "The moment of truth, the final shakeout."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The moment of truth, the final shakeout
&mdash; SlumDOGE Millionaire (@ProTheDoge) <a href="https://twitter.com/ProTheDoge/status/1898882628855419217?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post, the legendary investor stated, "It's crazy how the bull run hasn't even started."
Given the current state of affairs, the optimism seemed a bit overstated. The total market value of all cryptocurrencies shrank nearly 4% in the last 24 hours, with total liquidations surging 53% to a whopping $954 million.
In fact, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), the cryptocurrency that catapulted Contessoto to overnight fame, tumbled 38% over the month.
Contessoto didn't immediately return Benzinga's request for comment on their bullish predictions.
Notably, Contessoto<a href="https://drupal-cloudfront.benzinga.com/topic/slumdoge-millionaire"> gained fame for his early belief</a> in Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), claiming that he went from being a struggling music producer to a millionaire in 69 days.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44159088/microsoft-might-have-given-bitcoin-investments-a-miss-for-now-but-one-of-its-largest-investors-has-been-an-avid-advocate-of-cryptos-blockchains">Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate</a>
Why It Matters: Interestingly, influential cryptocurrency analyst, Ali Martinez, felt that Dogecoin's negative sentiment could pave the way for a rebound.
"Historically, extreme fear has set the stage for major reversals. This could be a prime opportunity to be a contrarian," Martinez emphasized.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Investor sentiment around <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> is at its most negative in over a year. Historically, extreme fear has set the stage for major reversals. This could be a prime opportunity to be a contrarian! <a href="https://t.co/Dd0XBTDYoK">pic.twitter.com/Dd0XBTDYoK</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1899237833648263398?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trader Tardigrade, another well-known chartist and trader, flagged $0.143 and $0.128 as potential reversal levels for Dogecoin.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a>&#39;s daily candle is about to close below the last support level at $0.175 &#x1fa78; Next <a href="https://twitter.com/search?q=%24Doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge</a> potential reversal levels are at $0.143 and $0.128 &#x1f4aa; <a href="https://t.co/a5XVVxeIBD">https://t.co/a5XVVxeIBD</a> <a href="https://t.co/i1Fko2iiIG">pic.twitter.com/i1Fko2iiIG</a>
&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1899242130679447741?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote>
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</figure>
Moreover, about 78% of Binance traders were positioned long on Dogecoin as of this writing, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass, indicating the possibility of a bullish shift.
Price Action: At the time of writing, Dogecoin was exchanging hands at $$0.1584, plunging 8.64% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://in.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">Trump Creates Strategic Bitcoin Reserve Funded By Forfeited Assets: &#8216;I Made The Promise&#8217; — BTC Dips 4%</a></li>
</ul>

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

Cryptocurrency

Markets

$DOGE

Dogecoin 'Millionaire' Labels Ongoing Crypto Meltdown A 'Final Shakeout,' But Here's What These Analysts Think About DOGE's Potential

New incentives, tools, training and resources make it easier for partners to consolidate cybersecurity on the Falcon platform, driving larger deals and superior customer outcomes

CRWD

Reported Earlier, CrowdStrike Expands Accelerate Partner Program With New Incentives, Tools, And Flexible Licensing

Tesla Inc.'s Chinese rival XPeng Motors&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) is contemplating a significant investment in humanoid robots, potentially reaching&nbsp;up to 100 billion yuan&nbsp;($13.80 billion).
What Happened: According to Chinese state media, XPeng CEO&nbsp;He Xiaopeng&nbsp;revealed during&nbsp;the annual parliamentary session that&nbsp;while the company&#8217;s current investment is conservative, it is prepared to increase its financial commitment substantially.
According to Reuters, the Securities Times reported He as saying that XPeng has been engaged in the humanoid robot sector for five years and plans to continue for another 20 years, potentially investing an additional 50 to 100 billion yuan.
The Guangzhou-based electric vehicle manufacturer entered the humanoid robot market in 2020, unveiling&nbsp;its humanoid Iron in November&nbsp;to compete with Tesla's Optimus bot.
XPeng is part of a growing number of automakers focusing on humanoids, an area that Chinese policymakers are keen to see technological advancements in.
Meanwhile,&nbsp;Stellantis NV-backed&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>)&nbsp;Leapmotor&nbsp;has initiated a robot team, currently in the pre-research phase, as reported by CEO&nbsp;Zhu Jiangming&nbsp;on Tuesday.
These robots are intended for industrial use, such as factory assemblies, to enhance work efficiency. He suggested that automakers might invest 1-2 billion yuan annually in applicable scenarios for deploying humanoid robots, according to Economic View on Tuesday.
Why It Matters: The interest in humanoid robots is gaining momentum across the tech and automotive industries.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO&nbsp;Elon Musk&nbsp;<a href="https://www.benzinga.com/25/01/43325888/tesla-likely-to-sell-optimus-to-rival-companies-in-2026-price-point-of-humanoid-robot-to-be-detemined-by-demand-says-ceo-elon-musk">recently announced</a> plans to produce thousands of Optimus robots for internal factory use, with future sales to other companies anticipated. This move highlights the growing competition in the humanoid robot market.
Additionally,&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is <a href="https://www.benzinga.com/markets/25/02/43692026/apples-next-big-bet-tim-cook-led-company-is-exploring-humanoid-as-well-as-non-humanoid-robots-for-smart-home-future-says-top-analyst">reportedly exploring</a> both humanoid and non-humanoid robots for its smart home ecosystem, focusing on user interaction and sensing technologies. This indicates a broader trend among tech giants to integrate robotics into their product offerings.
Moreover, Mark Zuckerberg-led Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is also <a href="https://www.benzinga.com/25/02/43754366/mark-zuckerberg-follows-elon-musks-footsteps-as-meta-reportedly-plans-major-investment-into-ai-powered-humanoid-robots">planning a significant investment</a> in AI-powered humanoid robots, showcasing the increasing interest in this field.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">&nbsp;following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44215061/tesla-bull-says-ev-giants-q1-delivery-shortfall-is-not-due-to-elon-musks-political-comments-and-doge-republicans-are-likely-thrilled" target="_blank" rel="noreferrer noopener">Tesla Bull Says EV Giant's Q1 Delivery Shortfall Is Not Due To Elon Musk's Political Comments And DOGE: ‘Republicans Are Likely Thrilled'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Global

Tech

AAPL

STLA

TSLA

XPEV

Tesla Rival XPeng Eyes $13.8 Billion Investment In Humanoid Robots, Says Chinese State Media

Leveraging Reasoning models to Simplify Market Entry and Global Sourcing for SMEs
Alibaba International Digital Commerce Group ("Alibaba International") announced today that its artificial intelligence (AI)-driven business-to-business (B2B) search engine, Accio, has surpassed 1 million users within five months of launch. To further empower small and medium-sized enterprises (SMEs), two new features—Business Research and Deep Search—are now available, offering AI-driven solutions for market entry and global sourcing.

BABA

Reported Earlier, Alibaba's Accio Surpasses 1 Million Users, Launches New Tools To Help SMEs Streamline Global Trade And Market Entry

ALKT

Reported Earlier, Alkami Prices $300M Offering Of 1.50% Convertible Senior Notes Due 2030

The world&#8217;s top tech billionaires saw their fortunes plummet on Monday as markets tumbled, with the Magnificent Seven tech giants shedding <a href="https://www.benzinga.com/news/large-cap/25/03/44237691/magnificent-7-sheds-over-750-billion-in-market-cap-in-one-day-is-big-techs-honeymoon-over">approximately $780 billion in market capitalization</a> during a single trading session.
What Happened: According to the Bloomberg Billionaires Index, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk led the losses, with his net worth dropping from $29 billion to $301 billion. Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos lost $4.21 billion, while Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg saw $9.46 billion erased from his fortune.
Other tech billionaires weren&#8217;t spared, as Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) founder Larry Ellison lost $7.26 billion, 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>) co-founders Larry Page and Sergey Brin saw declines of $6.16 billion and $5.73 billion respectively, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder Bill Gates dropped $1.10 billion, and former Microsoft CEO Steve Ballmer lost $4.17 billion. Collectively, the top 10 billionaires on the list lost $67.3 billion in a single day.
The tech sell-off saw Tesla shares plunge 15.44%, while other tech giants, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), fell 5.91% and 6.74%, respectively. The tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) officially entered correction territory, dropping more than 10% from recent highs.
Warren Buffett stood alone among the top 10 billionaires, gaining $607 million amid the turmoil. The Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) CEO, who recently reported a <a href="https://www.benzinga.com/25/02/43904932/warren-buffett-favors-5-treasury-bills-over-buybacks-as-berkshire-hathaways-cash-pile-surges-the-rate-of-change-thats-most-telling-says-lawrence-mcdonald">record $334 billion cash stockpile</a>, is reportedly positioned to capitalize on market weakness after warning about high valuations.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/03/44239278/cathie-wood-stands-by-deflationary-boom-call-as-gene-munster-compares-market-turmoil-to-dot-com-bubble" target="_blank" rel="noreferrer noopener">Cathie Wood Stands By ‘Deflationary Boom&#8217; Call As Gene Munster Compares Market Turmoil To Dot-Com Bubble</a>
Why It Matters: Berkshire has been a net seller of stocks for nine straight quarters, citing high valuations. Buffett has also trimmed Berkshire's Apple stake and halted stock buybacks, further <a href="https://www.benzinga.com/news/25/03/44238467/warren-buffett-shares-biggest-investing-mistakes-433m-deal-that-cost-berkshire-billions-and-trillion-dollar-tech-stocks-he-missed">boosting cash reserves</a>.
Investors worry about President Donald Trump&#8216;s proposed tariff plans and recession fears. Goldman Sachs has warned that tariffs could reduce corporate earnings by 1-2% for every 5% increase, potentially <a href="https://www.benzinga.com/news/25/03/44122159/warren-buffett-calls-tariffs-an-act-of-war-warns-they-function-as-a-tax-on-goods-amid-market-turmoil">triggering a 5% S&amp;P 500 decline</a>.
Despite recent losses, several tech billionaires maintain significant year-to-date gains, with Zuckerberg up $4.12 billion in 2025. Meanwhile, Tesla&#8217;s valuation remains elevated at more than 100 times earnings, even after losing half its <a href="https://www.benzinga.com/markets/equities/25/03/44239714/teslas-101x-valuation-raises-alarm-as-gordon-johnson-warns-of-sales-slump-dan-ives-sees-ai-upside-despite-elon-musks-doge-distractions">value since December highs</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence" target="_blank" rel="noreferrer noopener">Jamie Dimon Cashed Out $234 Million In JPMorgan Stock, Warren Buffett Stockpiled $334 Billion In Cash — Weeks Later, Markets Crashed. Coincidence?</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

AMZN

GOOG

GOOGL

MSFT

NVDA

ORCL

Warren Buffett Rakes In $607 Million While Elon Musk, Jeff Bezos, And Other Top Moneybags Bleed $67 Billion In A Day Amid Market Wipeout

Transaction Details and Path to Completion Under the terms of the agreement, BMS will promptly commence a tender offer to acquire all outstanding shares of 2seventy bio at a price of $5.00 per share in an all-cash transaction. 2seventy bio's Board of Directors unanimously recommends that 2seventy bio stockholders tender their shares in the tender offer.
The closing of the transaction is expected to occur in the second quarter of 2025 and is subject to customary closing conditions, including the tender of a majority of the outstanding shares of 2seventy bio's common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Following the successful closing of the tender offer, BMS will acquire all remaining shares of 2seventy bio common stock that are not tendered in the tender offer through a second-step merger at the same price in the tender offer of $5.00 per share.

TSVT

Reported Earlier, 2seventy bio Agrees To Be Acquired By Bristol Myers Squibb For $5.00 Per Share In 88% Premium Transaction Valued At $286M

Wayfair Prices $700M Offering of 7.750% Senior Secured Notes Due 2030 To Support Debt Restructuring

<ul>
<li>The Company will offer premium leasing services in New York through a strategic relationship, focusing on flexible lease terms and tailored solutions.</li>
<li>This follows the recent announcement that the Company intends to establish an office in the New York metro area to support its Investor Relations function</li>
</ul>

Faraday Future Intelligent Electric Inc. - Class A Common Stock

FFAI

Faraday Future To Enter New York EV Market With Launch Of FF 91 2.0 And Future Expansion To FX Model Lineup

Macro Economic Events

Econ #s

Economics

Reported Earlier, National Australia Bank Business Confidence For February -1 Vs. 5 (Revised) Prior

Reported Earlier, U.K. BRC Retail Sales Monitor (YoY) For February 0.9% Vs. 1.9% Est.; 2.5% Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Gross Domestic Product (GDP) Price Index (YoY) For Q4 2.9% Vs. 2.8% Est.; 2.4% Prior

Reported Earlier, Japan Gross Domestic Product (GDP) Annualized (QoQ) For Q4 2.2% Vs. 1.2% Prior

OpenAI has signed an $11.9 billion contract with CoreWeave and will acquire a $350 million equity stake in the cloud computing provider, strengthening the company ahead of its <a href="https://in.benzinga.com/25/03/44140237/coreweave-acquires-weights-biases-to-enhance-ai-development">expected $35 billion initial public offering</a>.
What Happened: The agreement enables OpenAI to reduce its reliance on Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) for the computing power required to train and operate its AI models, <a href="https://www.ft.com/content/4b52fdbb-ca8e-4208-bb99-f1e7f9313863">reported</a> Financial Times, citing sources.
&#8220;Partnering with OpenAI on this net new contract underscores CoreWeave&#8217;s proven ability to deliver reliable and performant infrastructure services, powering AI Innovations for world-leading AI labs,&#8221; said Michael Intrator, Co-Founder and Chief Executive Officer of CoreWeave.
CoreWeave has emerged as a specialized &#8220;AI Hyperscaler,&#8221; operating over 250,000 of NVIDIA Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI GPUs across 32 data centers. The company&#8217;s revenue surged 737% to $1.9 billion in 2024, though it <a href="https://www.benzinga.com/news/ipos/25/03/44100280/nvidia-backed-coreweave-files-for-ipo-amid-explosive-ai-growth-revenue-surges-737-to-1-9-billion">reported an $863 million net loss</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/03/44239278/cathie-wood-stands-by-deflationary-boom-call-as-gene-munster-compares-market-turmoil-to-dot-com-bubble" target="_blank" rel="noreferrer noopener">Cathie Wood Stands By ‘Deflationary Boom' Call As Gene Munster Compares Market Turmoil To Dot-Com Bubble</a>
Why It Matters: The deal represents OpenAI&#8217;s latest effort to secure and diversify its computing infrastructure. CEO Sam Altman has emphasized that infrastructure will be crucial in the competition to build advanced AI models, even as Microsoft&#8217;s Satya Nadella has voiced concerns about an &#8220;overbuild&#8221; of <a href="https://www.benzinga.com/tech/25/02/43838071/microsoft-ceo-satya-nadella-warns-of-dot-com-like-ai-bubble-pushes-for-measuring-ai-impact-with-gdp-growth-self-claiming-agi-milestone-is-just-nonsensical-benchmark-hacking">computing capacity</a>.
CoreWeave, founded in 2017 as a cryptocurrency mining operation, pivoted to offering cloud services for AI model development. The <a href="https://in.benzinga.com/25/03/44140237/coreweave-acquires-weights-biases-to-enhance-ai-development">company recently acquired</a> Weights &amp; Biases, a prominent AI development platform used by companies including OpenAI and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
The transaction strengthens CoreWeave&#8217;s position as a comprehensive platform for AI development while helping OpenAI reduce its dependence on Microsoft. CoreWeave <a href="https://www.benzinga.com/news/ipos/25/03/44100280/nvidia-backed-coreweave-files-for-ipo-amid-explosive-ai-growth-revenue-surges-737-to-1-9-billion">plans to list on the Nasdaq under the ticker</a> &#8220;CRWV&#8221; with Morgan Stanley and Goldman Sachs Group Inc. underwriting the offering.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence" target="_blank" rel="noreferrer noopener">Jamie Dimon Cashed Out $234 Million In JPMorgan Stock, Warren Buffett Stockpiled $334 Billion In Cash — Weeks Later, Markets Crashed. Coincidence?</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

OpenAI Secures Near-$12 Billion CoreWeave Deal, Taking Stake In Cloud Firm Ahead Of $35 Billion IPO To Reportedly Reduce Microsoft Dependence

Reported Earlier, Japan Gross Domestic Product (QoQ) For Q4 0.6% Vs. 0.7% Est.; 0.3% Prior

Reported Earlier, Japan Household Spending (MoM) For January -4.5% Vs. -1.9% Est.; 2.3% Prior

A little more than one month after Eric Trump thought the time was ripe to buy Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), the second-largest cryptocurrency has plummeted 32%.
What happened: Eric Trump, Executive Vice President of The Trump Organization, has taken a bullish stance since his father, Donald Trump, assumed the U.S. presidency.
In an X post from Feb. 4, Trump <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43484922/bitcoin-ethereum-dogecoin-drops-as-trumps-crypto-czar-announces-oversight-committee-eric-trump-says-great-time-to-add-eth">suggested</a>, "It's a great time to add ETH," garnering eyeballs from the cryptocurrency community. At the time, ETH traded around $2,735.
However, five weeks after the recommendation, the second-largest cryptocurrency has fallen to $1,855.58, marking a 32% decline.
Additionally, since Trump's <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44106531/eric-trump-said-buy-the-dips-in-february-but-peter-schiff-isnt-buying-the-genius-bitcoin-xrp-cardano-strategic-reserve-announcement">"Buy The Dip" advice</a> on Feb. 25, Ethereum has dropped 29%.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44159088/microsoft-might-have-given-bitcoin-investments-a-miss-for-now-but-one-of-its-largest-investors-has-been-an-avid-advocate-of-cryptos-blockchains">Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate</a>
Why It Matters: Interestingly, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40386524/eric-trump-teases-upcoming-crypto-based-initiative-surrounding-digital-real-estate-itll-sh">Trump family-backed</a> cryptocurrency project World Liberty Financial has been a prolific accumulator of Ethereum, holding around 23,991 ETH, worth $44.46 million as of this writing, <a href="https://platform.spotonchain.ai/en/entity/2361">according </a>to Spot On Chain.&nbsp;
The ETH holdings were acquired at an average price of $3,148 per coin, with an average selling price of $2,909. Consequently, the platform has realized losses of $32.694 on the investments, with unrealized losses of $18.986 million as of this writing. 
Trump stated last week that Ethereum will be at the <a href="https://in.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-month">"heart" of a U.S. strategic cryptocurrency reserve</a>, although the executive order he signed later made no mention of the cryptocurrency.
Price Action: At the time of writing, Ethereum was exchanging hands at $1,855.58, down 10.24% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Year-to-date, the meme coin has plunged 44%.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://in.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">Trump Creates Strategic Bitcoin Reserve Funded By Forfeited Assets: &#8216;I Made The Promise&#8217; — BTC Dips 4%</a></li>
</ul>

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Eric Trump's 'Great Time' To Buy ETH Backfires? Ethereum Plunges 30% Since His Buy Call

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