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NFT Ltd operates an online electronic platform for offering and trading artwork. Through its platform, the company allows artists/art dealers/owners to access a much bigger art trading market where artists can engage with a wide range of investors. Its platform also invests in high-end artwork accessible to ordinary people without financial resources. The company's trading platforms comprise the sale of calligraphies and paintings, jewelry, and precious stones. It generates revenue in the form of services in connection with the offering and trading of artwork on its system, consisting of listing fees, trading commissions, and management fees.

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Needham analyst Mayank Tandon reiterates ExlService Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXLS#NASDAQ">EXLS</a>) with a Buy and maintains $55 price target.

News

Price Target

Reiteration

Analyst Ratings

EXLS

Needham Reiterates Buy on ExlService Hldgs, Maintains $55 Price Target

Needham analyst Mike Matson reiterates TransMedics Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) from Hold to Hold.

TMDX

Needham Reiterates Hold on TransMedics Groupto Hold

U.S. stock futures fell on Tuesday, pulling back after a higher close on Monday. Futures of major benchmark indices declined in premarket.
Trade tensions escalated as <a href="https://www.benzinga.com/news/politics/25/06/45715447/xi-jinpings-china-dismisses-trumps-groundless-accusations-on-geneva-trade-deal-breach-vows-strong-retaliation">China&#8217;s Commerce Ministry dismissed</a> President Donald Trump&#8216;s allegations that Beijing had violated the Geneva trade agreement. The ministry asserted that China had fully implemented and consistently honored the deal struck last month in Geneva.
The Chinese government declared that the U.S. had &#8220;groundlessly&#8221; accused China of breaching the trade agreement. It pledged to take strong action to protect its interests.
Meanwhile, the 10-year Treasury bond yielded 4.41% and the two-year bond was at 3.92%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 95.3% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.43%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.46%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.42%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.49%</td>
</tr>
</tbody>
</table>
</figure>
The 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 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Tuesday. The SPY was down 0.45% at $590.04, while the QQQ declined 0.36% to $521.35, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
U.S. stocks wrapped up Monday higher. Most sectors within the S&amp;P 500 ended positively, spearheaded by strong performances in energy, communication services, and information technology stocks. However, industrial stocks went against the grain, finishing the session lower.
Wall Street closed out last month strong, with the S&amp;P 500 up more than 6.2% in May and the Nasdaq surging 9.6%. Both indices had their best months since November 2023, while the Dow gained 3.9% for the month.
Trade tensions flared as President Trump announced weekend plans to <a href="https://www.benzinga.com/news/topics/25/05/45708977/trump-doubles-steel-tariffs-to-50-saying-it-will-secure-american-jobs-backs-us-steels-takeover-by-japans-nippon">double tariffs on steel and aluminum</a> imports to 50% starting June 4. 
In corporate news, Campbell&#8217;s Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) reported better-than-expected third-quarter results. Meanwhile, Lyra Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYRA#NASDAQ">LYRA</a>) shares skyrocketed over 310% on Monday after its ENLIGHTEN 2 Phase 3 trial of LYR-210 met its primary endpoint.
On the economic front, the ISM manufacturing PMI dropped to 48.5 in May from April&#8217;s 48.7, missing market estimates of 49.5. U.S. construction spending also fell, declining 0.4% month-over-month in April to an annual rate of $2,152.4 billion, following a revised 0.8% drop in March.
The Dow Jones index ended 35 points or 0.084% higher at 42,305.48, whereas the S&amp;P 500 index rose 0.41% to 5,935.94. Nasdaq Composite advanced 0.67% to 19,242.61, and the small-cap gauge, Russell 2000, gained 0.19% to end at 2,070.16.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.67%</td>
<td>19,242.61</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.041%</td>
<td>5,935.94</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.084%</td>
<td>42,305.48</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.19%</td>
<td>2,070.16</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
As the S&amp;P 500 index rebounded from its April slump, Adam Turnquist, LPL Financial's chief technical strategist, pointed to strong indicators of a genuine recovery, noting the index&#8217;s reversal of its short-term downtrend and a doubling of its uptrend during this period.
A chart from LPL Financial illustrates this shift: on April 8, the S&amp;P 500&#8217;s uptrend accounted for just 29.4%, with downtrends at 70.2%. By May 29, however, the index had swiftly recovered, with uptrends doubling to 60% and downtrends decreasing to 39%.
LPL Financial attributed this change to <a href="https://www.benzinga.com/markets/equities/25/06/45739065/sp-500-reverses-short-term-downtrend-after-april-lows-technical-evidence-shows-recovery-is-real-and-not-a-bull-trap-or-bear-market-rally">significant technical progress</a> throughout May. He explained, "The index has reversed a short-term downtrend and continues to hold above its recent price gap above the 200-day moving average (dma)."
Turnquist suggests that a close above the May high of 5,969 points could pave the way for the index to retest its previous high of 6,144 points.
He emphasized, "There is a growing list of technical evidence that suggests this recovery is real, and not a ‘bull trap' or ‘bear market rally.' For investors, this means dips above support should be used as buying opportunities."
This positive outlook follows a strong May for the broader market, which saw a 6.2% gain—its best month since November 2023 and its strongest May since 1990. Turnquist also noted that historically, when the index rallies 3% or more in May, a month often associated with the &#8220;Sell in May and Go Away&#8221; adage, year-end returns average 8.9%, with positive returns in 73% of such periods.
Meanwhile, the Senior Economist at WisdomTree and former professor at the University of Pennsylvania, Jeremy Siegel, said, &#8220;I remain bullish on equities presuming tariffs remain in the 10% for all, 30% for China, range.&#8221;
Highlighting that Trump has doubled the tariffs on steel and aluminum, Seigel added, &#8220;If he goes no further, the current upward trend can continue. The market's resilience, despite noise on tariffs, inflation, and politics, tells me that investors see the same economy I do: strong productivity, solid consumer spending, and stabilizing inflation.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Tuesday:
<ul class="wp-block-list">
<li>April&#8217;s factory orders and job openings data will be out by 10:00 a.m. ET.</li>
<li>Chicago Fed President Austan Goolsbee will speak at 12:45 p.m., Federal Reserve Governor Lisa Cook will speak at 1:00 p.m., and Dallas Fed President Lorie Logan will speak at 3:30 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) rose 1.37% in premarket on Tuesday as analysts expect it to report quarterly earnings of $1.48 per share on revenue of $10.31 billion, before the opening bell.</li>
<li>Signet Jewelers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) was up 1.80% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of $1.03 per share on revenue of $1.52 billion.</li>
<li>Ferguson Enterprises Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) declined 0.99% as analysts expect it to report quarterly earnings of $2.02 per share on revenue of $7.42 billion, before the opening bell.</li>
<li>Credo Technology Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) jumped 12.8% after reporting fourth-quarter revenue of $170.03 million, beating analyst estimates of $162.96 million.</li>
<li>MoonLake Immunotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLTX#NASDAQ">MLTX</a>) surged 19.05% following reports that Merck held talks to acquire the Swiss biotech company for over $3 billion.</li>
<li>Donaldson Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) fell 0.39% ahead of its earnings, which are supposed to be released before the opening bell. Analysts expect earnings of 95 cents per share on revenue of $933.45 million.</li>
<li>Ollie&#8217;s Bargain Outlet Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) edged 0.45% higher as analysts expect it to report quarterly earnings of 71 cents per share on revenue of $565.75 million, before the opening bell.</li>
<li>Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) was trading 0.90% higher after the successful launch of the 10th Electron mission for multi-launch customer BlackSky.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.34% to hover around $62.73 per barrel.
Gold Spot US Dollar fell 0.58% to hover around $3,361.51 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.21% at the 98.9110 level.
Asian markets closed mixed on Tuesday as India's S&amp;P BSE Sensex, Japan's Nikkei 225 indices declined. While South Korea's Kospi, Australia's ASX 200, China&#8217;s CSI 300, and Hong Kong's Hang Seng indices rose. European markets were lower in early trade.
Read Next:
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<li><a href="https://www.benzinga.com/markets/economic-data/25/06/45740592/trump-sets-july-8-deadline-for-trade-deals-demands-best-offers-from-global-partners-by-wednesday-report">Trump Sets July 8 Deadline For Trade Deals, Demands Best Offers From Global Partners By Wednesday: Report</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

CRDO

FERG

LYRA

MLTX

OLLI

RKLB

US Stocks Likely To Open Lower: Expert Highlights Technical Analysis Showing S&P 500's 'Recovery Is Real' And Not A 'Bull Trap' Or 'Bear Market Rally'

The snacks business of Campbell&#8217;s Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) may be facing headwinds in recent months, but one particular brand is bucking the trend.
What Happened: During the company&#8217;s <a href="https://www.benzinga.com/markets/large-cap/25/06/45720002/campbells-brews-up-strong-q3-beats-estimates-as-home-cooking-sector-simmers">third quarter earnings</a> call on Monday, Campbell&#8217;s CEO, Mick Beekhuizen, highlighted the standout performance of its Milano Cookies brand, which defied the broader slowdown in the company&#8217;s snacks segment.
The segment as a whole posted a 5% year-over-year decline in sales, but Milano premium cookie was up, and while the company does not disclose the actual sales figures for the brand, it does say that the product line &#8220;had the strongest household penetration gains&#8221; during the quarter.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45740017/tsmc-ceo-tells-trump-100-billion-us-chip-expansion-will-take-time-amid-tariff-pressures-surging-ai-demand">TSMC CEO Tells Trump $100 Billion US Chip Expansion Will &#8216;Take Time&#8217; Amid Tariff Pressures, Surging AI Demand</a>
Beekhuizen credits this to a &#8220;touch of premium indulgence&#8221; that continues to resonate with selective consumers, amid &#8220;tighter food budgets&#8221; and a broader shift towards &#8220;value.&#8221;
&#8220;Consumers are being more intentional with their discretionary snack purchases,&#8221; Beekhuizen notes, favoring products that either don&#8217;t stretch household budgets or deliver enough perceived value to justify a splurge.
The outperformance contrasts sharply with other snack brands in Campbell's portfolio, including Goldfish crackers and Snyder's of Hanover pretzels, both of which faced year-over-year sales declines. 
The company's broader snack strategy is being reworked with a focus on core brand relevance, innovation, and price-pack architecture, rather than across-the-board promotions. Executives say that while inflation and consumer caution are pressuring the segment, targeted wins like Milano reinforce the case for premium offerings.
Why It Matters: The company mentioned during the call that consumers were <a href="https://www.benzinga.com/news/retail-sales/25/06/45738876/americans-are-cooking-at-home-more-than-ever-since-covid-and-they-want-ingredients-that-stretch-their-budget">turning to its brands</a> for &#8220;value, quality, and convenience,&#8221; while also &#8220;favoring ingredients that help stretch tighter food budgets,&#8221; in light of the prevailing macro conditions. 
Milano, nonetheless, stood out, highlighting the split in consumer behavior between value and luxury in recent quarters, especially as economic conditions tightened.
During its <a href="https://www.benzinga.com/markets/large-cap/25/06/45720002/campbells-brews-up-strong-q3-beats-estimates-as-home-cooking-sector-simmers">third quarter results</a>, the company reported $2.47 billion, up 4% year-over-year, and ahead of consensus estimates at $2.43 billion. It posted a profit of $0.73 per share, ahead of analyst estimates at $0.66.
Price Action: Shares of Campbell&#8217;s Co. were up 0.62% on Monday, trading at $34.25, and are down 0.15% after hours, following its third quarter results.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="142" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03045343/Screenshot-2025-06-03-at-2.23.22-PM-1024x142.png" alt="" class="wp-image-936286" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03045343/Screenshot-2025-06-03-at-2.23.22-PM-1024x142.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03045343/Screenshot-2025-06-03-at-2.23.22-PM-300x42.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03045343/Screenshot-2025-06-03-at-2.23.22-PM-768x107.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03045343/Screenshot-2025-06-03-at-2.23.22-PM-1536x214.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03045343/Screenshot-2025-06-03-at-2.23.22-PM.png 1596w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to Benzinga&#8217;s Edge Stock Ranking&#8217;s the company scores poorly across most core metrics, and has an unfavorable price trend in the short, medium, and long-term. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for some deeper insights into the stock. 
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/06/45740331/trumps-man-to-man-diplomacy-wont-work-with-xi-jinping-warns-former-white-house-chief-of-staff-as-tariff-deadlock-continues">Trump&#8217;s &#8216;Man-To-Man&#8217; Diplomacy Won&#8217;t Work With Xi Jinping, Warns Former White House Chief Of Staff As Tariff Deadlock Continues</a></li>
</ul>
Photo courtesy: JHVEPhoto / Shutterstock.com

Equities

'Touch of Premium Indulgence,' Says Campbell's CEO, As 'Splurge-Worthy' Milano Cookies Defy Snack Slump

Macro Economic Events

Econ #s

Economics

Eurozone Unemployment Rate For April: 6.2% Vs. 6.2% Est.; 6.3% (Revised) Prior

Eurozone Consumer Price Index (YoY) Preliminary For May 1.9% Vs. 2.0% Est.; 2.2% Prior

Eurozone Consumer Price Index (MoM) Preliminary For May 0.0% Vs. 0.6% Prior

Eurozone Core Consumer Price Index (YoY) Preliminary For May 2.3% Vs. 2.4% Est.; 2.7% Prior

The Trump administration is demanding that countries submit their best trade negotiation offers by Wednesday as officials accelerate talks with multiple partners ahead of a July 8 deadline.
What Happened: The draft letter reveals urgency within the administration to complete deals against its tight deadline, Reuters reported. Trump paused his &#8220;Liberation Day&#8221; tariffs for 90 days until July 8 after stock, bond and currency markets revolted over the sweeping nature of the levies in early April.
The U.S. is asking countries to list their best proposals, including tariff and quota offers for U.S. industrial and agricultural products, plans to remedy non-tariff barriers, commitments on digital trade and economic security, and country-specific commitments, according to a draft letter from the United States Trade Representative seen by Reuters. 
The U.S. will evaluate responses within days and offer &#8220;a possible landing zone&#8221; that could include reciprocal tariff rates.
Washington has been engaged in active negotiations with the European Union, Japan, Vietnam and India, among others. So far only one agreement has been reached with a major trading partner &#8211; Britain, though that limited pact was more akin to a framework than a final deal.
A USTR official confirmed, according to the report, that &#8220;productive negotiations with many key trading partners continue at a rapid pace.&#8221;
USTR did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/equities/25/06/45739846/snowflake-sets-sights-on-350-billion-database-market-with-crunchy-data-acquisition">Snowflake Sets Sights On $350 Billion Database Market With Crunchy Data Acquisition</a>
Why It Matters: The Court of International Trade ruled last Wednesday that Trump overstepped his authority with tariffs under the International Emergency Economic Powers Act, though an appeals court temporarily paused that decision. 
The draft letter warns partners not to expect tariffs will be sidelined, stating Trump &#8220;intends to continue this tariff program pursuant to other robust legal authorities if necessary.&#8221;
Experts <a href="https://www.benzinga.com/news/politics/25/05/45691310/trump-tariff-uncertainty-enters-courts-experts-say-investors-should-expect-elevated-turbulence-amid-the-bullish-gridlock">forecast elevated market turbulence</a> until trade clarity emerges, with LPL Financial&#8216;s chief technical strategist noting &#8220;the market hates uncertainty&#8221; and that &#8220;high levels of trade policy uncertainty tend to correlate with high implied volatility.&#8221; 
The administration is considering alternative approaches, including <a href="https://www.benzinga.com/news/25/05/45688655/trump-administration-mulls-global-tariffs-of-about-15-for-150-days-under-existing-trade-laws-report">using the Trade Act of 1974</a> to impose broad tariffs of up to 15% for 150 days while developing tailored tariffs for individual partners.
Read Next:
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<li><a href="https://www.benzinga.com/markets/treasuries/25/06/45739830/us-dollar-decouples-with-10-year-treasuries-as-trade-tensions-change-long-standing-relationships-between-asset-classes">US Dollar Decouples With 10-Year Treasuries As Trade Tensions Change Long-Standing Relationships Between Asset Classes</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Trump Sets July 8 Deadline For Trade Deals, Demands Best Offers From Global Partners By Wednesday: Report

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Widely followed cryptocurrency analyst Willy Woo has shared an ambitious long-term price target for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), framing its value against the global economy rather than the U.S. dollar.
What Happened: In an X post, Woo theorized that the apex cryptocurrency will be equivalent to the total world GDP divided by 21 million, i.e., Bitcoin&#8217;s hard cap, with a margin of 50% on either side. 
He projected that this valuation, tied to Bitcoin's fixed supply cap, could take nearly two decades to materialize.
An X user, Alex, was curious as to why an asset whose value is essentially determined by the store of value thesis could be quantified in terms of annual world production.
&#8220;As GDP grows, so does the money to buy all its goods and services,&#8221; Woo responded. &#8220;Gold used to be that money. BTC is the challenger. Fiat is a short term distortion when viewed in long time frames. Hard money will return.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My long term target for BTC price is not dollars as that continues to be debased. My target is World GDP / 21 million. Give or take +/- 50%. Will take the good part of 2 decades to get there.
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1929528638937948640?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
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According to the International Monetary Fund, global GDP in April 2025 was <a href="https://www.imf.org/external/datamapper/NGDPD@WEO/OEMDC/ADVEC/WEOWORLD">estimated </a>at $113.8 trillion, with a real annual growth rate of 2.8%. At this rate, the GDP in the next 20 years would be approximately $197.69 trillion.
Going by Woo&#8217;s formula, i.e., World GDP in 2 decades / 21 million, will give the price of a Bitcoin at $9.41 million apiece. The lower bound is $4.70 trillion after deducting 50%, while the upper bound is $14.11 million after adding 50%.
This was similar to what a user in Woo&#8217;s post calculated. Woo went a step further, adding a 5% dollar depreciation rate to the calculations, arriving at a price of $20 million per coin.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One correction I'd make. Real GDP growth is 2%, while debasement is 5%. So if we inflate GDP at 7% per year for 20 years measured in debasing USD, that would be $425T or $20M per coin give or take 50%.
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1929583212260741440?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/03/44450232/white-house-says-gold-reserves-may-be-used-to-purchase-bitcoin" target="_blank" rel="noreferrer noopener">White House Says Gold Reserves May Be Used to Purchase Bitcoin &#8211; Benzinga</a>
Why It Matters: Woo&#8217;s million-dollar prediction aligned with that of Michael Saylor, a well-known Bitcoin advocate and co-founder of Bitcoin holding company, Strategy. Saylor projected BTC at <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45417306/michael-saylors-bitcoin-strategy-infinite-money-glitch-or-a-reflexive-leverage-bet">$1 million within 10 years</a>, and potentially $13 million by 2045.
Additionally, Tom Lee, a noted financial analyst, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45727395/tom-lee-predicts-bitcoin-to-hit-250000-by-end-of-2025-3m-long-term">projected Bitcoin</a> to reach $2 million, or even $3 million, in the long term.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $104,980.06, down 0.53% 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>.&nbsp; 
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Disclaimer:&nbsp;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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>
Photo Courtesy: Quality Stock Arts on Shutterstock

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

Cryptocurrency

Markets

$BTC

Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — 'Gold Used To Be That Money, BTC Is The Challenger'

Former acting White House Chief of Staff Mick Mulvaney has expressed doubt on President Donald Trump's ability to <a href="https://www.benzinga.com/25/05/45685544/scott-bessent-says-us-china-trade-talks-at-stalemate-need-trump-and-xi-jinping-touch-to-break-the-deadlock">strike a deal</a> with Chinese Premier Xi Jinping. 
What Happened: Mulvaney, speaking <a href="https://www.bloomberg.com/news/articles/2025-06-03/trump-s-man-to-man-style-won-t-work-on-xi-former-aide-says">to</a> Bloomberg TV, highlighted a fundamental distinction between both leaders' approaches to diplomacy.
"There's a fundamental disconnect here," he said. "Trump wants to talk at the very highest levels. That's not always how the Chinese want to do business." Trump, who is known to prefer direct engagement, wants to have a call with Xi. The White House said it is likely to take place this week.
Mulvaney observed that this tactic may not be compatible with how Xi usually operates. "I do not see them being able to pull off a deal the old-fashioned way, which is going through the back channels," he explained. "And I think it'd be very difficult to do a deal going the Trump way, which is only Xi to Trump man-to-man."
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45738506/microsoft-fires-hundreds-more-workers-amid-ai-fueled-growth-calls-it-positioning-the-company-for-success">Microsoft Fires Hundreds More Workers Amid AI-Fueled Growth, Calls It Positioning The Company For &#8216;Success&#8217;</a>
Why It Matters: Trump likes to communicate directly with leaders, both in case of politics and business, according to Mulvaney, who also served as his budget director in the past. This contrasts with Xi's practice of negotiating and resolving key issues through advisers before any leader-level engagement.
Mulvaney also presented a larger critique of Beijing. "They can't steal people's intellectual property. They can't force you into bad deals in order to do business in your country. They can't hide information when they deal with pandemics, like they did with Covid-19," he said. "First-tier nations of the world don't do that. China's going to become a first-tier nation. They need to step up their game."
Mulvaney's comments come just as <a href="https://www.benzinga.com/news/politics/25/06/45715447/xi-jinpings-china-dismisses-trumps-groundless-accusations-on-geneva-trade-deal-breach-vows-strong-retaliation">China refuted claims of violating agreements made in Geneva</a>, stating that it &#8220;implemented and consistently upheld&#8221; the terms of the deal reached last month.
The ministry also rebuked Washington's actions, citing "discriminatory restrictive" measures imposed by the U.S., including curbs on <a href="https://www.benzinga.com/25/05/45534527/china-warns-of-legal-retaliation-against-us-chip-sanctions-threatens-lawsuits-for-aiding-discriminatory-tech-crackdown">AI chip exports</a>, bans on chip design software, and <a href="https://www.benzinga.com/general/education/25/05/45664141/trump-administration-to-revoke-visas-of-chinese-students-tied-to-ccp-or-critical-fields-tightens-screening">visa revocations</a> for Chinese students.
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Photo courtesy: Joey Sussman / Shutterstock.com

Politics

Trump's 'Man-To-Man' Diplomacy Won't Work With Xi Jinping, Warns Former White House Chief Of Staff As Tariff Deadlock Continues

Demis Hassabis, CEO of 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>) subsidiary Google&#8217;s DeepMind, believes that while AI is displacing certain jobs, it will also create new, &#8220;very valuable&#8221; roles, particularly for those adept at leveraging emerging technologies.
What Happened: Speaking at SXSW London, the former Nobel prize awardee emphasized that AI&#8217;s impact will surpass that of the Industrial Revolution, but he remains optimistic due to humanity&#8217;s adaptability. He noted that over the next five to ten years, AI will &#8220;supercharge&#8221; technically savvy individuals who are at the forefront of using these technologies.
According to a report by Business Insider, Hassabis <a href="https://www.businessinsider.com/demis-hassabis-google-deemind-study-future-jobs-ai-2025-6">highlighted</a> that today&#8217;s children will grow up &#8220;AI native,&#8221; similar to how previous generations adapted to the internet. He advised students to focus on STEM subjects such as mathematics, physics, and computer science to understand the fundamentals of AI systems.
Additionally, he recommended that individuals experiment with the latest AI tools to discover innovative applications and use cases, stating, &#8220;I&#8217;d also be experimenting with all the latest AI systems and tools and seeing what&#8217;s the best way of utilising them and making use of them in useful and novel ways.&#8221;
See also: <a href="https://www.benzinga.com/markets/tech/25/06/45739130/elon-musks-tesla-defies-european-slump-with-norway-sales-growth-in-may-model-y-comes-to-the-rescue">Elon Musk&#8217;s Tesla Defies European Slump With Norway Sales Growth In May: Model Y Comes To The Rescue</a>
Despite the current job market shifts, with companies like Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet Inc. using AI to automate tasks like coding, Hassabis remains optimistic about AI&#8217;s potential. He predicts that Artificial General Intelligence (AGI), AI with capabilities equal to or exceeding human intelligence, <a href="https://www.benzinga.com/25/05/45599346/why-googles-demis-hassabis-disagrees-with-co-founder-sergey-brin-on-when-agi-will-arrive-and-sets-a-much-higher-bar">could arrive</a> by around 2030.
Why It Matters: Several prominent voices share Hassabis's optimism about AI's potential to create new jobs. Meta CEO Mark Zuckerberg envisions AI evolving into a &#8220;<a href="https://www.benzinga.com/tech/25/05/45338301/zuckerberg-foresees-tech-industry-revolution-with-ai-an-ai-that-can-effectively-be-a-sort-of-midlevel-engineer">midlevel engineer</a>&#8221; capable of writing code, enabling small, talent-dense teams to develop high-quality products. He believes this transformation will lead to a tech industry revolution, urging startups to adapt and harness AI&#8217;s capabilities.
Mark Cuban believes AI will <a href="https://www.benzinga.com/news/25/05/45691457/mark-cuban-claps-back-at-anthropic-ceo-dario-amodeis-ai-job-loss-warning-new-companies-with-new-jobs">create more jobs</a> too, recently hitting back at Anthropic CEO Dario Amodei‘s warning that people should be &#8220;worried&#8221; about the AI age. Meanwhile, Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang believes students should already try and harness what they can from AI to help <a href="https://www.benzinga.com/tech/25/05/45485072/if-i-were-a-student-today-heres-how-id-use-ai-to-do-my-job-better-says-nvidia-ceo">improve career prospects</a> and productivity.
According to&nbsp;Benzinga Edge Stock Rankings, Alphabet has received a growth score of 88.54%.&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Click here to see how it stacks up against the likes of Apple</a>. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener"></a>
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="149" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-1024x149.png" alt="" class="wp-image-936220" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-1024x149.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-300x44.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1-768x112.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03041250/goog-edge-1.png 1442w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Photo courtesy: JHVEPhoto / Shutterstock.com

Tech

GOOG

GOOGL

MSFT

NVDA

Google's Demis Hassabis Says AI Natives Have 'Very Valuable' Jobs Waiting For Them, But They Need To Study These Subjects At School

<h3>Companies Reporting Before The Bell</h3>
• NIO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) is likely to report quarterly loss at $0.22 per share on revenue of $1.71 billion. 
• National Energy Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NESR#NASDAQ">NESR</a>) is projected to report earnings for its first quarter. 
• Ollie's Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) is projected to report quarterly earnings at $0.77 per share on revenue of $570.27 million. 
• Citi Trends (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTRN#NASDAQ">CTRN</a>) is expected to report quarterly loss at $0.26 per share on revenue of $193.28 million. 
• Ferguson Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) is likely to report quarterly earnings at $2.29 per share on revenue of $7.45 billion. 
• Signet Jewelers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) is estimated to report quarterly earnings at $1.27 per share on revenue of $1.54 billion. 
• Dollar General (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) is estimated to report quarterly earnings at $1.46 per share on revenue of $10.25 billion. 
• Donaldson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) is likely to report quarterly earnings at $0.96 per share on revenue of $960.74 million. 
<h3>Companies Reporting After The Bell</h3>
• Yext (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $113.64 million. 
• Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) is likely to report quarterly earnings at $0.42 per share on revenue of $279.91 million. 
• Sportsman's Warehouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWH#NASDAQ">SPWH</a>) is expected to report quarterly loss at $0.47 per share on revenue of $238.25 million. 
• Mama's Creations (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAMA#NASDAQ">MAMA</a>) is projected to report quarterly earnings at $0.02 per share on revenue of $32.74 million. 
• CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is estimated to report quarterly earnings at $0.96 per share on revenue of $1.11 billion. 
• Couchbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BASE#NASDAQ">BASE</a>) is estimated to report earnings for its first quarter. 
• Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $7.92 billion. 
• HealthEquity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) is projected to report quarterly earnings at $0.89 per share on revenue of $320.41 million. 
• Asana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) is projected to report quarterly earnings at $0.02 per share on revenue of $185.47 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

ASAN

BASE

CRWD

CTRN

GWRE

MAMA

NESR

SPWH

YEXT

Earnings Scheduled For June 3, 2025

Chipmaker Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) may have carved out a lead for itself in AI that is nearly impossible to dislodge, according to a former Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) engineer, who believes that the latter might still have an upper hand across a few niche areas.
What Happened: On Monday, AlphaSense, an expert network that connects investors with subject-matter experts, shared the call transcript of one such conversation between an analyst and an ex-AMD engineer.
The expert in the call outlined the reasons Nvidia&#8217;s dominance in AI seems unassailable, and it has to do with what&#8217;s currently being taught to students at the university level.
According to the expert, universities are training students on Nvidia's software, making its tools and libraries the default. See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45739051/tsmc-ceo-admits-trump-tariffs-have-some-impact-on-chipmaker-but-demand-consistently-outpacing-supply-thanks-to-ai">TSMC CEO Admits Trump Tariffs Have &#8216;Some Impact&#8217; On Chipmaker But Demand &#8216;Consistently Outpacing&#8217; Supply Thanks To AI</a>
They credit this to the company&#8217;s early and aggressive investment in AI tooling, leaving it with such a deeply entrenched software dominance that newer entrants and even established rivals like AMD might struggle to match.
&#8220;Nvidia was investing extremely heav[ily]… 20 years ago, on AI and large language models,&#8221; the expert said. &#8220;You could almost call it throwing away money at the time.&#8221;
This strategy, they note, has since paid off, with Nvidia now having what they call an &#8220;unassailable tool flow and library for all things AI.&#8221;
Yet, they highlighted certain meaningful strengths of AMD, particularly in the realm of robotics. Unlike Nvidia's top-down strategy focused on high-level processing, AMD has built credibility in low-level motor control and embedded systems, they say. 
In fact, companies like Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) and ABB Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ABBNY#OTC">ABBNY</a>) have both publicly endorsed AMD for its contributions to real-time robotics tasks. 
While Nvidia dominates in vision AI and large-scale inference, areas crucial to humanoid robotics and LLM applications, AMD's bottom-up capabilities position it well in industrial and healthcare robotics, where power efficiency and real-time control matter more than raw GPU horsepower, according to the expert.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Former <a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> employee shares his view on the positioning of <a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> and <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> in the robotics industry: &#8211; According to the expert, AMD is heavily involved in many subsystems that make up robotics systems. <a href="https://twitter.com/search?q=%24AMD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AMD</a> grew from the bottom up, in contrast to <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>, which, according to the… <a href="https://t.co/iJE0GAq8HC">pic.twitter.com/iJE0GAq8HC</a>
&mdash; AlphaSense (@AlphaSenseInc) <a href="https://twitter.com/AlphaSenseInc/status/1929561262712832286?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: According to recent reports, AMD is <a href="https://www.benzinga.com/25/05/45550527/amd-takes-on-nvidia-stock-with-direct-shot-at-gpus-reviewer-says-rx-9060-could-hit-the-bullseye">catching up with Nvidia</a> in the GPU race rather quickly, with new products that offer considerably more bang for the buck, or as one reviewer called it, &#8220;15% better gaming performance per dollar,&#8221; relative to Nvidia&#8217;s 5060 Ti.
Tech giants, such as Elon Musk&#8217;s xAI, too, have committed to buying many GPUs from Nvidia in the months to come, along with &#8220;some from AMD.&#8221;
Price Action: AMD shares were up 3.52% on Monday, trading at $114.63, while Nvidia shares traded at $137.38, up 1.37%. Both stocks are flat after hours, up 0.11% and 0.01%, respectively.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="138" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-1024x138.png" alt="" class="wp-image-936043" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-1024x138.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-300x41.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-768x104.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM-1536x207.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03022201/Screenshot-2025-06-03-at-11.51.47-AM.png 1614w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Nvidia ranks well on Momentum and Growth according to Benzinga&#8217;s Edge Stock Rankings, while having a favorable price trend in the short, medium, and long term. How does it compare with Nvidia? Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> to find out. 
Photo Courtesy: Hepha1st0s On Shutterstock.com
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Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) on Monday completed its $200 million acquisition of Bitstamp Ltd., one of the longest-running global exchanges facilitating Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrency trading for both retail and institutional investors.
What Happened: The deal brings Bitstamp&#8217;s over 50 active global licenses and registrations to Robinhood&#8217;s platform. As of April 30, Bitstamp served over 500,000 funded retail customers and approximately 5,000 institutional customers, with exchange volume predominantly institutional-focused.
Bitstamp generated total net revenues of approximately $95 million over the last twelve months ending April 30. Robinhood expects the acquisition to be roughly Adjusted EBITDA neutral immediately following close and accretive within 12 months.
For the remaining seven months of 2025, Robinhood anticipates recording approximately $65 million in Bitstamp-related costs, primarily driven by business operations, integration expenses, and purchase price amortization.
CEO Vlad Tenev announced the completion via social media, while Robinhood Crypto General Manager Johann Kerbrat called it &#8220;a major milestone in growing Robinhood Crypto,&#8221; noting the partnership brings customers across the EU, UK, U.S. and Asia.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitstamp is now part of Robinhood, adding a globally-scaled crypto exchange and our first-ever institutional crypto business. Our work is just beginning. <a href="https://t.co/VDjGS1KuBb">https://t.co/VDjGS1KuBb</a>
&mdash; Vlad Tenev (@vladtenev) <a href="https://twitter.com/vladtenev/status/1929659333220212873?ref_src=twsrc%5Etfw">June 2, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45739199/american-politicians-dont-believe-bitcoin-can-co-exist-peacefully-with-the-dollar-says-this-popular-btc-maximalist-heres-why">American Politicians Don&#8217;t Believe Bitcoin Can &#8216;Co-Exist Peacefully&#8217; With The Dollar, Says This Popular BTC Maximalist: Here&#8217;s Why</a>
Why It Matters: Bitstamp is already connected to Robinhood Legend and the company&#8217;s Smart Exchange Routing offering, facilitating integration. The exchange serves institutional customers, with exchange volume mostly institutional-focused.
This deal follows Robinhood&#8217;s recent expansion strategy, including its <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45372870/robinhood-to-acquire-canadas-wonderfi-for-178m-all-cash-deal">$178 million acquisition agreement</a> for Canadian crypto platform WonderFi Technologies Inc. in May, demonstrating the company&#8217;s aggressive push into international crypto markets.
Price Action: Robinhood closed at $67.98 on Monday, up 2.77%. After hours, it rose 0.90% to $68.59. Year to date, the stock is up 72.36%.
According to Benzinga Edge Stock Rankings, Robinhood shows strong momentum and impressive growth, with a low value score indicating premium pricing. However, the stock maintains a positive price trend across the short to long term. Click here to <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">view the full stock breakdown</a>.
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="886" height="638" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19.png" alt="" class="wp-image-936195" style="width:605px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19.png 886w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19-300x216.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03035108/image-19-768x553.png 768w" sizes="(max-width: 886px) 100vw, 886px" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Sergei Elagin On Shutterstock.com

HOOD

Robinhood Completes $200 Million Bitstamp Deal, Gains Access To 500K+ Crypto Users And $95 Million Revenue Stream

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has filed a fresh trademark application for the wordmark "Tesla Robotaxi" with the U.S. Patent and Trademark Office (USPTO) after the <a href="https://www.benzinga.com/25/05/45278182/elon-musks-cybercab-ambitions-face-latest-snag-teslas-robotaxi-trademark-filing-refused-by-authorities">agency previously rejected </a>its application.
What Happened: The EV giant applied for the trademark with the agency on May 30, the filing shows. Currently, the filing is yet to be reviewed by an examining attorney, but has been accepted by the USPTO.
This agency stated that the filing by Tesla for the trademark "Robotaxi" was too generic, as the term Robotaxi is also used by ride-sharing companies to describe self-driving cabs.
<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="563" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-1024x563.jpg" alt="" class="wp-image-936177" style="width:580px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-1024x563.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-300x165.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-768x422.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-1536x845.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033735/TSLA-trademark-Robotaxi-2048x1126.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: USPTO
"Registration is refused because the applied-for mark merely describes a feature, ingredient, characteristic, purpose, function, intended audience of the applicant&#8217;s goods and/or services,&#8221; the agency stated.
Why It Matters: The application comes as Tesla is gearing up to launch its Robotaxi services in <a href="https://www.benzinga.com/tech/25/05/45662671/tesla-targets-june-12-for-robotaxi-launch-in-austin-elon-musk-says-company-ramped-up-fsd-testing-a-month-ahead-of-schedule">Austin on June 12</a>. Tesla CEO Elon Musk had previously stated that the launch would have over 10-20 Model Ys initially.
The launch could also prove to be pivotal for the company's future, according to Wedbush Securities' analyst Dan Ives, who called the robotaxi launch a <a href="https://www.benzinga.com/news/25/05/45536187/dan-ives-calls-teslas-austin-robotaxi-launch-a-watershed-moment-maintains-bullish-views-on-tesla">"watershed moment" for Tesla</a>.
The robotaxi race is heating up in the U.S. with Alphabet Inc.'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>) <a href="https://www.benzinga.com/news/topics/25/06/45714095/chamath-palihapitiya-calls-tesla-an-obvious-win-says-robotaxi-alphabets-waymo-will-overtake-uber-and-lyft">Waymo recently surpassing</a> Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) in bookings in San Francisco, showcasing the rapid adoption of autonomous cabs in the country.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="184" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-1024x184.jpg" alt="" class="wp-image-936179" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-1024x184.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-300x54.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-768x138.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2-1536x277.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03033819/TSLA-JUN-3-2025-2.jpg 1649w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
TSLA scores well on Momentum, Growth, and Quality metrics, but offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge</a> today!
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Photo courtesy: Tada Images / Shutterstock.com

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Elon Musk's Tesla Files New Autonomous Taxi Trademark Application Ahead Of Robotaxi Launch In June

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