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YY Group Holding (NASDAQ:YYGH) 株価情報, 空売り情報

YY Group Holding

YY Group Holding Ltd is a data and technology driven company focused on developing enterprise intelligent labor matching services and smart cleaning services founded in Singapore. It provides enterprise manpower outsourcing and smart cleaning services in Singapore and Malaysia. The group has two operating segment, which is cleaning services segment and manpower outsourcing services, Maximum revenue is generated from cleaning services.

YY Group Holding Limited - Class A Ordinary Shares

YY Group Holding Ltd

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella showcased the company&#8217;s artificial intelligence initiatives in Indian agriculture, highlighting a broader push into AI technology <a href="https://www.benzinga.com/25/01/42801720/microsoft-to-invest-80-billion-in-ai-data-centers-for-fiscal-2025">backed by an $80 billion investment planned for fiscal 2025</a>.
What Happened: During a visit to the Agricultural Development Trust, Baramati in Maharashtra, India, Nadella observed how local farmers are leveraging Microsoft&#8217;s AI tools to optimize crop yields and combat climate challenges. 
The initiative, part of Microsoft&#8217;s &#8220;Farm of the Future&#8221; project, has shown promising early results with sugar cane yields increasing 30-40% and sucrose content rising 20%.
&#8220;It was great to meet the team at ADT Baramati today, who are using our AI tools to help farmers grow healthier, more sustainable harvests,&#8221; Nadella wrote on X.
<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">It was great to meet the team at ADT Baramati today, who are using our AI tools to help farmers grow healthier, more sustainable harvests. <a href="https://t.co/8vB8vkelDs">https://t.co/8vB8vkelDs</a>
&mdash; Satya Nadella (@satyanadella) <a href="https://twitter.com/satyanadella/status/1876877914324476183?ref_src=twsrc%5Etfw">January 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The agricultural initiative utilizes Microsoft&#8217;s Azure Data Manager for Agriculture platform, combining data from weather stations, soil sensors, and satellite imagery to provide farmers with actionable insights through a mobile app called Agripilot.ai.
Why It Matters: This development aligns with Microsoft co-founder Bill Gates&#8217; vision for AI in agriculture. Gates, who owns 275,000 acres of farmland in the United States, has been advocating for <a href="https://www.benzinga.com/real-estate/24/07/39797332/bill-gates-owns-275-000-acres-of-u-s-farmland-his-answer-to-why-hes-buying-so-much-of-it-might-surpr">AI adoption in farming practices</a>.
During a recent visit to India, Gates praised the country&#8217;s innovation in digital infrastructure and its application in agriculture, particularly noting how AI and chatbots are delivering personalized farming <a href="https://in.benzinga.com/content/37356117/bill-gates-explores-indias-digital-infrastructure-in-odisha-champions-use-of-ai-in-agriculture">advice to 7.5 million registered farmers</a>.
Microsoft&#8217;s agricultural AI initiative comes as the company plans to invest <a href="https://www.benzinga.com/25/01/42801720/microsoft-to-invest-80-billion-in-ai-data-centers-for-fiscal-2025">approximately $80 billion in AI data centers</a> during fiscal 2025, with more than half allocated to the United States. 
The investment reflects Microsoft&#8217;s aggressive expansion in AI infrastructure, as the company reported its AI business segment is approaching $10 billion in annual revenue.
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/25/01/42865752/tesla-supplier-catl-riot-games-owner-tencent-plan-legal-action-over-pentagon-blacklist-deny-military-ties">Tesla Supplier CATL, Riot Games Owner Tencent Plan Legal Action Over Pentagon Blacklist, Deny Military Ties</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

News

Markets

Tech

MSFT

Microsoft CEO Satya Nadella Draws Attention To AI-Powered Agriculture For 'Healthier, More Sustainable Harvests' Amid $80 Billion Investment Push

Anthropic, the AI startup behind &#8220;Claude&#8221; backed by Jeff Bezos, is reportedly in advanced discussions to secure $2 billion in funding. This deal could elevate its valuation to $60 billion, positioning it among the top five most valuable U.S. startups.
What Happened: The funding round is reportedly led by&nbsp;Lightspeed Venture Partners, according to sources familiar with the matter. This valuation includes the anticipated $2 billion from the current fundraising efforts. Anthropic&#8217;s valuation last year was $18 billion, led by&nbsp;Menlo Ventures, The Wall Street Journal&nbsp;<a href="https://www.wsj.com/tech/ai/ai-startup-anthropic-raising-funding-valuing-it-at-60-billion-19d0605a">reported</a> on Wednesday. 
The AI sector has seen a surge in investment activities, with companies like&nbsp;OpenAI&nbsp;and&nbsp;Elon Musk's xAI&nbsp;raising substantial funds. Investors are optimistic about generative AI&#8217;s potential, despite the financial losses many AI startups face due to high operational costs and fierce competition.
Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has been a significant backer of Anthropic, committing $4 billion in November. This investment, structured as a convertible note, will convert to equity at the current valuation. Anthropic&#8217;s annualized revenue has reached approximately $875 million, primarily from business sales.
Why It Matters: Anthropic&#8217;s latest fundraising efforts come on the <a href="https://www.benzinga.com/24/11/41871055/jeff-bezos-backed-anthropic-ai-startup-to-partner-with-palantir-and-aws-for-us-defense-following-meta-and-microsoft">heels of its strategic partnership</a> with&nbsp;Amazon Web Services and Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>). This collaboration aims to provide its Claude A.I. models to U.S. defense and intelligence agencies. The partnership underscores a growing trend where AI companies are increasingly aligning with government sectors to leverage their technologies for national security purposes.
This move positions Anthropic as a more safety-conscious alternative to competitors like Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)-backed OpenAI.
Meanwhile, OpenAI CEO Sam Altman revealed that the <a href="https://www.benzinga.com/25/01/42810114/openai-ceo-sam-altman-reveals-company-struggling-with-chatgpt-pro-losses">company is operating at a loss on its $200-per-month</a> ChatGPT Pro subscription plan. While the plan was introduced to generate revenue, it hasn't met profit expectations due to higher-than-anticipated usage.
Read More: 
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<li><a href="https://www.benzinga.com/25/01/42865484/cathie-woods-tuesday-double-dump-ark-invest-trims-both-palantir-and-bitcoin-etf-holdings">Cathie Wood&#8217;s Tuesday Double Dump: Ark Invest Trims Both Palantir And Bitcoin ETF Holdings</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.
Image via Shutterstock

General

AMZN

PLTR

Jeff Bezos-Backed Anthropic Set To Become One Of The Top 5 US Startups As It Reportedly Eyes $60 Billion Valuation With $2 Billion Funding Round

Piper Sandler analyst Clarke Jeffries maintains Riskified (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSKD#NYSE">RSKD</a>) with a Overweight and lowers the price target from $7 to $6.

Price Target

Analyst Ratings

RSKD

Piper Sandler Maintains Overweight on Riskified, Lowers Price Target to $6

Piper Sandler analyst Clarke Jeffries maintains Bentley Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>) with a Overweight and lowers the price target from $65 to $57.

Piper Sandler Maintains Overweight on Bentley Systems, Lowers Price Target to $57

Leading Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miners in the U.S. are accumulating BTC as a buffer against growing competition and narrowing profit margins.
What Happened: Firms including&nbsp;MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>),&nbsp;Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), and&nbsp;CleanSpark Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) have leveraged Bitcoin&#8217;s soaring price,&nbsp;which hit $100,000 last month,&nbsp;to raise over $3.7 billion since November, according to a Financial Times <a href="https://www.ft.com/content/0cfbe43c-7c2a-40bf-8bb7-92f58a9d2389">report </a>on Monday.
These funds have been utilized to fund Bitcoin purchases, often raised through <a href="https://www.benzinga.com/24/12/42387102/mara-holdings-raises-850-million-in-0-convertible-notes-offering-a-40-premium-over-current-share-price">zero or near-zero coupon convertible notes.</a>
Following in the footsteps of MicroStrategy, MARA, the world&#8217;s biggest Bitcoin mining company, has pivoted toward a <a href="https://www.benzinga.com/pressreleases/24/07/g39955751/mara-purchases-100-million-of-bitcoin" target="_blank" rel="noreferrer noopener">buy-and-hold strategy</a>, retaining all Bitcoin it mines and periodically making strategic open-market purchases.
Miners such as CleanSpark have also chosen to <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42558246/cleanspark-is-outpacing-bitcoin-mining-peers-wednesday-whats-going-on">retain the majority of the Bitcoin mined</a> in recent months.
On-chain data also reflected the behavioral shift. The number of Bitcoins transferred from miner wallets to exchanges fell sharply in the last quarter, coinciding with the cryptocurrency&#8217;s uptrend, according to blockchain analytics firm CryptoQuant.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08032907/Bitcoin-Miner-to-Exchange-Flow-Total-All-Miners-All-Exchanges-1024x576.png" alt="" class="wp-image-723343" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08032907/Bitcoin-Miner-to-Exchange-Flow-Total-All-Miners-All-Exchanges-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08032907/Bitcoin-Miner-to-Exchange-Flow-Total-All-Miners-All-Exchanges-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08032907/Bitcoin-Miner-to-Exchange-Flow-Total-All-Miners-All-Exchanges-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08032907/Bitcoin-Miner-to-Exchange-Flow-Total-All-Miners-All-Exchanges-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08032907/Bitcoin-Miner-to-Exchange-Flow-Total-All-Miners-All-Exchanges.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: CryptoQuant</figcaption></figure>
MARA was the second-largest corporate holder of Bitcoin, with a stash of 44,893 BTCs, worth $4.3 billion, with Riot bagging the third spot with 17,722 BTCs valued at $1.69 billion, <a href="https://bitcointreasuries.net/">according </a>to bitcointreasuries.net.
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/25/01/42835979/ethereum-co-founder-vitalik-buterin-offloads-nearly-a-million-in-memecoins-to-benefit-charitiesdogecoins-sister-coin-neiro-plunges-3-after-sale">Ethereum Co-Founder Vitalik Buterin Offloads Nearly A Million In Memecoins To Benefit Charities — Dogecoin&#8217;s Sister Coin NEIRO Plunges 3% After Sale</a>
Why It Matters: This strategy is a significant shift in the industry&#8217;s perspective, which has been grappling for&nbsp;the past eight months after&nbsp;the <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">reward for mining Bitcoin halved</a>.
Donald Trump&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41081939/trump-wants-us-to-be-bitcoin-mining-capital-of-the-world-core-scientifics-move-to-buy-chip">pledge</a> that Bitcoin would be &#8220;mined,&nbsp;minted, and made in the U.S.&#8221; has ignited enthusiasm, with MARA CEO Fred Thiel attributing recent momentum to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42191142/bitcoin-is-being-sold-into-a-market-with-ample-demand-from-institutions-says-marathon-ceo-fred-thiel">supportive stance</a> of the president-elect.
The rush to purchase&nbsp;more Bitcoin is also a defensive tactic against potential&nbsp;financial pressure from high electricity costs.
Mining costs are on the rise. A <a href="https://coinshares.com/corp/resources/research/bitcoin-mining-report-q3-2024/">report </a>by leading investment firm CoinShares estimated the average cost to produce one Bitcoin in the third quarter of 2024 at $55,950, indicating a 13% increase quarter over quarter. One Bitcoin was trading at $95,995.51 as of this writing.
Additionally, hash rate, the computation power required to solve complex puzzles and create new Bitcoins, hit a new all-<a href="https://cryptoquant.com/asset/btc/chart/network-stats/hashrate?window=DAY&amp;sma=0&amp;ema=0_30&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line">time high last week</a>, threatening to drive up expenses even more.
Price Action: Shares of MARA closed 7.20% lower at $19.07 on Tuesday, while RIOT stock fell 3.72% to $12.41. CleanSpark shares closed down 6.30% at $10.71, 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>. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/42836019/odds-of-trump-buying-greenland-hit-21-on-betting-platform-kalshi-amid-reports-of-donald-trump-jrs-visit-to-arctic-region">Trump&#8217;s Greenland Gambit: Kalshi Bettors See 21% Chance He&#8217;ll Seal The Deal Before This Date</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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

Cryptocurrency

$BTC

CLSK

MARA

RIOT

US Bitcoin Miners Hoard Apex Crypto To Shield Against Rising Expenses — MARA, Riot Replicate MicroStrategy's Playbook

Piper Sandler analyst Clarke Jeffries upgrades Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) from Neutral to Overweight and raises the price target from $311 to $357.

Upgrades

ADSK

Piper Sandler Upgrades Autodesk to Overweight, Raises Price Target to $357

EVTL

Vertical Aerospace Has Taken Another Significant Step In Its Testing Programme By Successfully Completing Its First Piloted Thrustborne Flight Manoeuvres

OpenAI CEO Sam Altman has made a bold prediction regarding the development of artificial general intelligence (AGI), suggesting it will occur during Donald Trump&#8217;s presidency.&nbsp;
What Happened: In an interview with Bloomberg, Altman said that while he doesn't support everything Trump says or thinks, "I do support the United States of America."
Altman, who <a href="https://www.benzinga.com/news/management/24/12/42485193/sam-altman-to-donate-1m-to-trumps-inauguration-fund-following-zuckerberg-bezos-eager-to-support">contributed $1 million</a> to Trump&#8217;s inaugural fund, also stated that his donation was not an act of allegiance but a demonstration of support for the country.
See Also: <a href="https://www.benzinga.com/personal-finance/25/01/42818961/jeff-bezos-urged-his-brother-and-sister-to-invest-10000-in-amazon-the-stake-grew-15499900-and-its-now-potentially-worth-1-5-billion">Jeff Bezos Urged His Brother And Sister To Invest $10,000 In Amazon – The Stake Grew 15,499,900% And It's Now Potentially Worth $1.5 Billion</a>
He also stressed the critical nature of AGI development during this period. "I think AGI will probably get developed during this president's term, and getting that right seems really important."
The OpenAI CEO also criticized the CHIPS Act, acknowledging it as a step forward but not as effective as expected. "I don't think the Chips Act has been as effective as any of us hoped."
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: During his campaign, Trump strongly <a href="https://www.benzinga.com/24/12/42420201/trumps-return-threatens-billions-in-us-chip-investment-from-taiwan-samsung">criticized the CHIPS Act</a>, a law passed two years earlier to support domestic manufacturing of semiconductor chips, which are predominantly produced abroad.
Ahead of Trump taking office, the Joe Biden administration is moving quickly to allocate CHIPS funds.
However, in November 2024, it was reported that Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), the primary recipient of <a href="https://www.benzinga.com/24/11/42157390/intels-federal-chips-grant-shrinks-below-8b-as-biden-administration-recalibrates-chips-act-funding-report">CHIPS Act funding</a>, is expected to receive under $8 billion, a decrease from the $8.5 billion originally announced.
Meanwhile, OpenAI has been making headlines with its impressive growth, <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">securing $6.6 billion last year</a> in funding at a valuation of $157 billion. This funding is intended to boost AI research and expand computing capabilities.
For people who want to invest in OpenAI, Cathie-Wood's ARK Venture Fund offers a unique investment opportunity. This actively managed fund includes both public and private companies. Currently, OpenAI ranks as the fund&#8217;s fourth-largest position, holding 4.24%.
Destiny Tech 100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>) is another platform where OpenAI currently holds the fourth position with 5.1%, following SpaceX, Revolut, and Axiom Space.
Investors can also consider making an indirect investment through Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). Microsoft has so far invested <a href="https://www.benzinga.com/news/24/12/42679515/microsoft-invested-nearly-14-billion-in-openai-but-now-its-reducing-its-dependence-on-the-chatgpt-pa">about $14 billion</a> in OpenAI, giving it a 49% stake in the company.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/01/42803280/consumer-tech-news-dec-30-jan-3-apple-stops-selling-iphone-14-iphone-14-plus-iphone-se-trump-seeks-a-political-resolution-of-tiktok-ban-more">Consumer Tech News (Dec 30-Jan 3): Apple Stops Selling iPhone 14, iPhone 14 Plus, iPhone SE, Trump Seeks A ‘Political Resolution' Of TikTok Ban &amp; More</a></li>
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Photo courtesy: Shutterstock

Media

DXYZ

INTC

OpenAI CEO Sam Altman Predicts AGI Will Arrive During The Trump Presidency, Says CHIPS Act Not Effective Enough

Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) filed a federal lawsuit Monday against California Attorney General Rob Bonta and environmental groups, alleging defamation of its advanced plastics recycling initiatives, as the oil giant pushes forward with significant investments in recycling technology.
What Happened: Filed in Beaumont, Texas, the lawsuit claims Bonta acted in concert with law firm Cotchett, Pitre &amp; McCarthy, which has connections to Australian billionaire Andrew Forrest&#8217;s Minderoo Foundation. The foundation controls Fortescue, a competitor in low-carbon solutions, Reuters reported.
The legal action comes as Exxon <a href="https://www.benzinga.com/24/11/42117222/exxonmobil-aims-high-with-200-million-investment-in-cutting-edge-plastic-recycling">advances a $200 million expansion</a> of its advanced recycling capabilities in Texas. The technology breaks down hard-to-recycle plastics at the molecular level for reuse, part of the company&#8217;s broader sustainability strategy.
&#8220;Defendants are repeatedly and publicly attacking ExxonMobil with false accusations of being a &#8216;liar&#8217; and declarations that advanced recycling is a &#8216;myth&#8217; and a &#8216;sham,'&#8221; Exxon stated in its complaint, seeking undisclosed damages and retractions.
Why It Matters: The California Department of Justice defended its position, calling the lawsuit &#8220;another attempt from ExxonMobil to deflect attention from its own unlawful deception.&#8221; This follows Bonta&#8217;s 2023 lawsuit against Exxon over alleged decades-long deception about recycling limitations.
The legal battle unfolds as Exxon pursues <a href="https://www.benzinga.com/24/12/42444546/2030-roadmap-exxonmobil-to-achieve-54m-barrelsday-production-targets-20-billion-earnings-boost">ambitious growth targets</a>, including a $20 billion earnings boost by 2030 and $30 billion in lower-emissions investments. The company recently announced plans for $20 billion in annual share repurchases for 2025-2026, supported by projected surplus cash of $165 billion.
Wall Street maintains a positive outlook on Exxon, with analysts setting an <a href="https://www.benzinga.com/quote/XOM/analyst-ratings">average price target</a> of $127.96, representing a potential upside from current trading levels of around $108. 
The company trades at a price-to-earnings ratio of 13.54 and offers a dividend yield of 3.64%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08030331/Screenshot-2025-01-08-at-1.31.49%E2%80%AFPM-1024x376.png" alt="" class="wp-image-723281" style="width:647px;height:auto" /></figure>
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Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Flickr

Exxon Mobil Sues California AG Over Defamation Of Recycling Efforts, Citing Ties To Competitors

The CNN Money Fear and Greed index showed an increase in the overall fear level, while the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the S&amp;P 500 falling more than 1% during the session amid a decline in major tech stocks.
NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares dipped 6.2% on Tuesday after hitting a record high level. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell over 4% after BofA Securities downgraded the stock from Buy to Neutral, while Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) lost nearly 2% during the session.
On the economic data front, the U.S. trade deficit increased to $78.2 billion in November versus a revised $73.6 billion gap in the previous month and is in line with market estimates. Imports increased 3.4% to $351.6 billion, while exports rose 2.7% to $273.4 billion.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, communication services, and information technology stocks recording the biggest losses on Tuesday. However, energy and health care stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 178 points to 42,528.36 on Tuesday. The S&amp;P 500 fell 1.11% to 5,909.03, while the Nasdaq Composite dipped 1.89% at 19,489.68 during Tuesday's session.
Investors are awaiting earnings results from UniFirst Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>), Acuity Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) and PriceSmart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) today.
At a current reading of 35.7, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 37.8.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42846607/bank-of-new-york-mellon-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
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Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

NVDA

PSMT

TSLA

S&P 500 Down Over 1% As Nvidia, Tesla Tumble: Greed Index Remains In 'Fear' Zone

<h3>Companies Reporting Before The Bell</h3>
• UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) is estimated to report quarterly earnings at $2.21 per share on revenue of $606.60 million. 
• Simply Good Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMPL#NASDAQ">SMPL</a>) is projected to report quarterly earnings at $0.46 per share on revenue of $347.32 million. 
• Helen Of Troy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) is likely to report quarterly earnings at $2.58 per share on revenue of $532.91 million. 
• MSC Industrial Direct Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) is likely to report quarterly earnings at $0.73 per share on revenue of $904.59 million. 
• Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) is estimated to report quarterly earnings at $0.66 per share on revenue of $18.82 billion. 
• Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) is estimated to report quarterly earnings at $3.89 per share on revenue of $956.17 million. 
• AngioDynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) is expected to report quarterly loss at $0.11 per share on revenue of $70.93 million. 
<h3>Companies Reporting After The Bell</h3>
• Jefferies Financial Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) is likely to report quarterly earnings at $1.04 per share on revenue of $1.83 billion. 
• Penguin Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) is expected to report quarterly earnings at $0.39 per share on revenue of $319.99 million. 
• Pricesmart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) is projected to report quarterly earnings at $1.29 per share on revenue of $1.24 billion. 
• Greenbrier Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) is projected to report quarterly earnings at $1.15 per share on revenue of $849.51 million. 
• Franklin Covey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FC#NYSE">FC</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $70.15 million. 
• Saratoga Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAR#NYSE">SAR</a>) is projected to report quarterly earnings at $0.84 per share on revenue of $34.90 million. 
• Pure Cycle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCYO#NASDAQ">PCYO</a>) is likely to report earnings for its first quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ANGO

HELE

PCYO

Penguin Solutions, Inc. - Ordinary Shares

PENG

SMPL

Earnings Scheduled For January 8, 2025

CLVT

Clarivate Announced The Release Of The Twelfth Annual Drugs To Watch Report, A Trusted Guide To The Therapies Poised To Redefine The Future Of Healthcare

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Tuesday said that Grok chatbot, created by his artificial intelligence startup xAI, is going to be integrated into Tesla vehicles &#8220;soon.&#8221;
What Happened: &#8220;Grok in Teslas is coming soon. So you will be able to talk to your Tesla and ask for anything,&#8221; Musk said in a live stream on social media platform X. 
Tesla confirmed the announcement with its CEO via its X account, dedicated to updates about its Cybertruck.
&#8220;You can ask for anything but I'll only give it to you if I'm in a good mood,&#8221; the company wrote on its Cybertruck profile about Musk&#8217;s announcement. 
<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">You can ask for anything but I'll only give it to you if I'm in a good mood
&mdash; Cybertruck (@cybertruck) <a href="https://twitter.com/cybertruck/status/1876713144698945625?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Musk said as long back as Nov. 2023 that he would discuss a possible xAI-Tesla partnership with the Tesla board. Grok is now available only to users of <a href="https://www.benzinga.com/24/12/42645821/elon-musks-xai-expands-with-new-chatbot-app">Musk-owned social media platform&nbsp;X</a>.
In December, the xAI announced that it has<a href="https://www.benzinga.com/tech/24/12/42358400/elon-musks-xai-raises-6b-for-the-2nd-time-this-year-as-it-looks-to-take-the-challenge-to-openai-google-and-jeff-bezos-backed-anthropic"> secured $6 billion in Series C funding</a> from major technology and financial institutions, marking its second major funding round in 2024. Nvidia, AMD, A16Z, Blackrock, Fidelity&nbsp;Management&nbsp;&amp;&nbsp;Research&nbsp;Company, Kingdom&nbsp;Holdings, Lightspeed, MGX, Morgan&nbsp;Stanley, OIA, QIA, Sequoia&nbsp;Capital, Valor&nbsp;Equity Partners and Vy&nbsp;Capital participated in the funding.
Grok 3, xAI&#8217;s new language model, is currently training. Musk said last week that Grok 3 is &#8220;coming soon&#8221; without giving a clearer timeline. 
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>
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</ul>
Photo courtesy: Shutterstock

xAI's Grok Chatbot To Be Integrated Into Tesla Vehicles 'Soon,' Says Elon Musk

At CES 2025, Intel unveils new adaptive control solution, next-gen discrete graphics and AWS virtual design environment.

Reported Earlier, Intel Introduces ACU U310 And Whole-Vehicle Platform To Accelerate EV And SDV Development

Reported Earlier, Marcus & Millichap Secures $174M In Financing For 348-Unit New Jersey Multifamily Asset

Return of Capital Update
<ul>
<li>The Plains Board of Directors has approved an increase in the quarterly distribution payable in February 2025 for both PAA common units and PAGP Class A shares from $0.3175 per unit to $0.38 per unit. On an annualized basis, the distribution represents a $0.25 per unit, or 20%, increase from the distribution paid in November 2024.</li>
</ul>

PAGP

Reported Earlier, Plains All American Expands Crude Oil Footprint With $670M Acquisitions, Boosts Distribution Quarterly By 20%

Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) will release its fourth-quarter financial results before the opening <a href="https://www.benzinga.com/quote/c/earnings">bell on Wednesday, Jan. 15</a>.
Analysts expect the New York-based company to report quarterly earnings at $1.21 per share, up from 84 cents per share in the year-ago period. Citigroup projects quarterly revenue of $19.42 billion, compared to $17.44 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Citigroup shares gained 1.3% to close at $73.68 on Tuesday&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/C/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>B of A Securities analyst Ebrahim Poonawala maintained a Buy rating and raised the price target from $90 to $95 on Jan. 7, 2025. This analyst has an accuracy rate of 66%.</li>
<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained an Outperform rating and boosted the price target from $82 to $85 on Jan. 3, 2025. This analyst has an accuracy rate of 72%.</li>
<li>Oppenheimer analyst Chris Kotowski maintained an Outperform rating and cut the price target from $110 to $102 on Jan. 3, 2025. This analyst has an accuracy rate of 86%.</li>
<li>Goldman Sachs analyst Richard Ramsden maintained a Buy rating and boosted the price target from $72 to $81 on Dec. 6, 2024. This analyst has an accuracy rate of 69%.</li>
<li>Piper Sandler analyst Scott Siefers maintained an Overweight rating and raised the price target from $73 to $80 on Dec. 3, 2024. This analyst has an accuracy rate of 69%.</li>
</ul>
Considering buying Citi stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="575" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-1024x575.png" alt="" class="wp-image-723274" style="width:657px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-1024x575.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-300x168.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-768x431.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36.png 1117w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42846607/bank-of-new-york-mellon-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>

Citigroup Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Analysts at <a href="https://www.benzinga.com/topic/truist-securities">Truist Securities</a> initiated coverage on 24 large-cap, regional, and trust banks, as well as credit card companies. They anticipate strong earnings growth over the next two years, projecting an annual increase of 12-15% fueled by factors like improving loan growth, a steeper yield curve, and ample capital for expansion.
What Happened: Forecasting a favorable environment for banks in 2025 and 2026, the analysts at Truist foresee a less stringent regulatory environment, with more clarity and flexibility for banks regarding mergers and acquisitions, and the deployment of excess capital.
The note highlighted that the banking stocks were de-rated during the first two years of Trump 1.0 because the yield curve was flattened and late-cycle macro concerns surfaced, even as the administration enacted bank-friendly tax reform and regulatory tailoring. However, according to the brokerage, a little Fed easing and a steeper curve are necessary for the stocks to be re-rated and two rate cuts are expected in 2025, as hinted by Fed during their December meeting. 
According to Truist, while bank valuations have increased, they remain relatively attractive compared to historical levels. They currently trade at a price-to-book value (P/TBV) below their post-financial crisis average, and at a significant discount to the broader market. The note adds that given the current market valuations, bank stocks appear undervalued relative to the S&amp;P 500.
However, despite Truist beliefs that the sector offers attractive opportunities, careful stock selection is crucial according to them. &#8220;While we're not at &#8216;close your eyes and buy ‘em levels,&#8217; we still see attractive opportunities across the sector and view stock selection as increasingly important,&#8221; the note said.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/42836744/baby-its-cold-outside-these-5-winter-ready-stocks-have-what-it-takes-to-make-you-feel-warm-and-cozy">Baby, It&#8217;s Cold Outside: These 5 Winter-Ready Stocks Have What It Takes To Make You Feel Warm And Cozy</a>
Why It Matters: Truist&#8217;s coverage on 24 financial stocks is spread across three subgroups namely, large-cap, regional, and trust banks, which is initiated with a positive outlook.
<h3 class="wp-block-heading">Large-Cap Banks</h3>
The research note examines long-term investment potential of large U.S. banks as these institutions possess significant advantages, including, &#8220;embedded offense&#8221; with the presence of strong existing businesses and customer relationships.
It also anticipates cyclical tailwinds and capital leverage for such banks given a favorable economic environment and the ability to effectively utilize capital for growth.
These factors position large U.S. banks to achieve organic growth by the expansion of core businesses, double-digit earnings growth and an attractive returns on equity.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Large Cap Banks</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td>
<td>Buy</td>
<td>$52</td>
</tr>
<tr>
<td>Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</td>
<td>Buy</td>
<td>$85</td>
</tr>
<tr>
<td>Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>)</td>
<td>Buy</td>
<td>$82</td>
</tr>
<tr>
<td>JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>Hold</td>
<td>$260</td>
</tr>
<tr>
<td>PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>)</td>
<td>Hold</td>
<td>$215</td>
</tr>
<tr>
<td>US Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>)</td>
<td>Hold</td>
<td>$54</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Regional Banks And Cards</h3>
Truist also initiated coverage on 14 regional financial companies outlining three key strategies for regional banks to remain competitive.
<ul>
<li>Differentiated Growth: Focus on unique and sustainable growth opportunities.</li>
</ul>
<ul>
<li>Disciplined Capital Allocation: Efficiently deploy capital to support growth and enhance shareholder value.</li>
</ul>
<ul>
<li>Navigating the Evolving Landscape: Adapt to changing market conditions, including interest rates, yield curve shifts, loan and deposit growth, and commercial real estate market dynamics.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Regional Banks</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>)</td>
<td>Buy</td>
<td>$51</td>
</tr>
<tr>
<td>Huntington Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>)</td>
<td>Buy</td>
<td>$19</td>
</tr>
<tr>
<td>M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</td>
<td>Buy</td>
<td>$233</td>
</tr>
<tr>
<td>Wintrust Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>)</td>
<td>Buy</td>
<td>$151</td>
</tr>
<tr>
<td>Citizens Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>)</td>
<td>Hold</td>
<td>$49</td>
</tr>
<tr>
<td>Comerica Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>)</td>
<td>Hold</td>
<td>$65</td>
</tr>
<tr>
<td>First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>)</td>
<td>Hold</td>
<td>$2,303</td>
</tr>
<tr>
<td>KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>)</td>
<td>Hold</td>
<td>$19</td>
</tr>
<tr>
<td>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>)</td>
<td>Hold</td>
<td>$25</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Cards</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>)</td>
<td>Buy</td>
<td>$42</td>
</tr>
<tr>
<td>American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</td>
<td>Buy</td>
<td>$350</td>
</tr>
<tr>
<td>Capital One Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>)</td>
<td>Buy</td>
<td>$229</td>
</tr>
<tr>
<td>Discover Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)</td>
<td>Buy</td>
<td>$233</td>
</tr>
<tr>
<td>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>)</td>
<td>Hold</td>
<td>$72</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Trust Banks And Capital Markets</h3>
Truist anticipates gradual interest rate decreases, the eventual end of quantitative tightening, and a healthy economy and capital markets providing a competitive landscape to trust banks.
According to the analysts, investors should prioritize stocks with the potential for sustained operating leverage. Which is the ability to increase profitability significantly with relatively small increases in revenue. And stocks with strong capital returns, with high levels of income through dividends and share buybacks.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Trust Banks And Capital Markets</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>)</td>
<td>Buy</td>
<td>$91</td>
</tr>
<tr>
<td>Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>)</td>
<td>Buy</td>
<td>$86</td>
</tr>
<tr>
<td>Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>)</td>
<td>Hold</td>
<td>$110</td>
</tr>
<tr>
<td>State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>)</td>
<td>Hold</td>
<td>$106</td>
</tr>
</tbody>
</table>
</figure>
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42813271/as-billionaires-load-up-on-energy-stocks-given-trumps-proposed-policies-this-analyst-highlights-charlie-mungers-1962-oil-investment-which-can-outperform-all-the-rest">As Warren Buffett And Other Billionaires Load Up On Energy Stocks, This Analyst Highlights Charlie Munger&#8217;s 1962 Oil Investment Which Can &#8216;Outperform All The Rest&#8217;</a></li>
</ul>

Analyst Color

Long Ideas

Market Summary

Initiation

ALLY

FCNCA

FITB

HBAN

NTRS

SCHW

WTFC

Yield Curve Normalization, Cheap Valuation, EPS Growth To Boost Banks In 2025: Truist Initiates Coverage On These 14 Regional Names

Quantum computing stocks faced a sharp decline following remarks from&nbsp;Jensen Huang, CEO of&nbsp;Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). During Nvidia&#8217;s analyst day, Huang expressed optimism about quantum computing&#8217;s future but warned that practical applications might be 15 to 30 years away.
What Happened: Huang highlighted that while quantum computing is effective for small data and big compute tasks, it struggles with large data due to its microwave-based communication. He emphasized the necessity of classical computers for error correction, positioning Nvidia as a significant player in the classical-quantum computing space. Nvidia collaborates with nearly every quantum computing company worldwide, extending their CUDA platform to quantum applications.
&#8220;If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it&#8217;s probably on the late side,&#8221; Huang said.
&#8220;If you picked 20, I think a whole bunch of us would believe it.&#8221;
Following Huang&#8217;s comments, quantum computing stocks saw a notable drop in overnight trading in Robinhood on Wednesday. IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) fell by 10.75%, Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) declined by 12.86%, and D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) and Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) experienced decreases of 14.14% and 13%, respectively. The market&#8217;s reaction reflects investor concerns over the extended timeline for quantum computing advancements.
Why It Matters: The recent downturn in quantum computing stocks underscores the challenges and uncertainties facing the sector. As highlighted by&nbsp;Jim Cramer, the <a href="https://www.benzinga.com/news/global/25/01/42781091/jim-cramer-warns-day-is-not-near-enough-to-justify-the-current-valuations-of-quantum-computing-nuclear-power-stocks">long development timelines </a>and current market valuations raise concerns for investors. Despite the U.S. quantum computing market&#8217;s projected growth from $138.2 million in 2022 to $1.2 billion by 2030, the path to practical applications remains lengthy.
Quantum computing is often <a href="https://www.benzinga.com/markets/equities/24/12/42638753/quantum-computing-the-new-ai-a-look-at-the-rapidly-expanding-market-and-top-stocks-for-2025">compared to&nbsp;artificial intelligence</a>&nbsp;in terms of its transformative potential. Experts predict it will drive breakthroughs in fields like cryptography, drug discovery, and optimization. However, the technology&#8217;s reliance on qubits, which can represent multiple states simultaneously, means it still faces significant hurdles before it can match the speed and efficiency of classical computers.
Read Also:
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</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.
Image via Shutterstock

IONQ

QBTS

QUBT

RGTI

Nvidia's Jensen Huang Said Something That Has All Quantum Computing Stocks Tumbling: QUBT And RGTI Down 13%, IONQ Down 11%

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects UniFirst Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) to report quarterly earnings at $2.22 per share on revenue of $606.62 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. UniFirst shares gained 2.5% to $209.76 in after-hours trading.</li>
<li>Cal-Maine Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) posted better-than-expected results for its second quarter. The company said it set a quarterly record for total dozens sold and specialty dozens sold. It also announced a cash dividend of approximately $1.49 per share. Cal-Maine shares climbed 3.8% to $107.60 in the after-hours trading session.</li>
<li>Analysts are expecting Acuity Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) to post quarterly earnings at $3.89 per share on revenue of $956.18 million. The company will release earnings before the markets open. Acuity Brands shares fell 0.3% to $303.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) posted stronger-than-expected second-quarter results. The company reported quarterly earnings of 90 cents per share, which beat the analyst consensus estimate of 84 cents. Quarterly revenue came in at $686.1 million, which beat the analyst consensus estimate of $654.18 million. AAR shares surged 5.8% to $65.35 in the after-hours trading session.</li>
<li>Analysts expect PriceSmart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) to post quarterly earnings at $3.68 per share on revenue of $751.49 million after the closing bell. PriceSmart shares gained 0.6% to close at $92.22 on Tuesday.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42846607/bank-of-new-york-mellon-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>
Photo courtesy: Shutterstock

CALM

UniFirst, Acuity Brands And 3 Stocks To Watch Heading Into Wednesday

YY Group (YYGH) Holding announced that its subsidiary, Hong Ye Group, has secured several significant contracts with key clients, solidifying the c...

YY Group secures SGD$4.7M in contracts

Hong Ye Group secures SGD$4.7M in key contracts

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YY Group's Hong Ye Secures Key Healthcare Contracts

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YY Group launches YY Smart Tech to drive innovation, efficiency

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YY Group's YY Smart Tech expands strategic partnership network

YY Group (YYGH) announced the acquisition of MediaPlus Venture Group, a digital marketing and web development firm based in Singapore and Malaysia....

YY Group announces the acquisition of MediaPlus Venture Group

YY Group acquires MediaPlus Venture Group

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YYGH

Press Releases

YY Group Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

YY Group Holding Limited Announces Unaudited First Half 2024 Financial Results

YY Circle Launches Advanced Workforce Solutions in the UK

YY Group Welcomes Dian Xiao Er as a Partner for Premium Dining Experiences Enhanced by YY Circle's Staffing Solutions

YY Group Holdings Limited Successfully Regains NASDAQ Compliance

Contracts

Hong Ye Group Secured SGD$4.7M In Key Contracts, Breaking New Ground in Healthcare Facilities

YY Group Holding Celebrates Hong Ye Group's Wins for Excellence in Workplace and Cleaning Innovation

YY Group Holding Launches YY Smart Tech to Drive Technological Innovation and Efficiency

YY Group Holding's YY Smart Tech Expands Strategic Partnerships to Drive Digital Transformation Across Asia

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