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QMMM Holdings

QMMM Holdings Ltd is a digital advertising and marketing production services company. It operates through its two wholly-owned subsidiaries. It has used interactive design, animation, art-tech and virtual technologies in over 500 commercial campaigns. The company has worked with large domestic and international banks, real estate developers, amusement parks, top international athletic apparel and footwear brands, and luxury cosmetic products and international brands for their advertising and creation work in Hong Kong. Its clients include local and international banks, real-estate developers, luxury brands, high fashion houses, and theme parks.

QMMM Holdings Ltd

Memecoins made full use of the return of bullish sentiment on Monday, with the less established ones topping the biggest market gainers list.
What happened: Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based BOOK OF MEME pumped over 28% to become the best-performing cryptocurrency in the last 24 hours.&nbsp;
The token spiked to levels not seen since July 30, with trading volume surging over 68% to $702.34 million.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11:30 p.m. EDT)</td>
</tr>
<tr>
<td>BOOK OF MEME (BOME)</td>
<td>+28.76%</td>
<td>$0.01099</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+22.00%</td>
<td>$0.008811</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>+10.04%</td>
<td>$0.00002346</td>
</tr>
</tbody>
</table>
</figure>
.Cat-themed memecoin cat in a dogs world occupied the second spot in the biggest 24-hour gainers list after a 22% surge. The coin's trading volume nearly doubled over the last 24 hours, indicating high buying pressure.
Yet another Solana-based token, Bonk, bounced 10%, becoming the best-performing billion-dollar capitalization meme coin in the 24-hour period.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41322645/mark-cuban-defends-kamala-harris-crypto-knowledge-appears-to-take-dig-at-trump-for-selling">Mark Cuban Defends Kamala Harris&#8217; Crypto Knowledge, Appears To Take Dig At Trump For Selling Tokens And Merchandise: &#8216;Unlike Your Guy, She Doesn&#8217;t Pretend&#8217;</a>
Blue-chip currencies such as Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) also saw decent gains, rising 3.78% and 3.13%, respectively.
Overall, the total meme coin market capitalization rose over 6% in the last 24 hours.
The upsurge followed a broader market rally that saw market bellwether Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41322892/bitcoin-ethereum-dogecoin-soar-as-stocks-register-new-all-time-highs-top-analyst-says-king">surge over 5% to hit levels not seen since late July</a>.
Photo by stockphoto-graf on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41323012/trump-backed-world-liberty-financial-says-dollar-pegged-stablecoin-and-not-bitcoin-is-the-">Trump-Backed World Liberty Financial Says Dollar-Pegged Stablecoin And Not Bitcoin Is The Best Way To &#8216;Make America Great&#8217;</a></li>
</ul>

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

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$BTC

$DOGE

$SHIB

$SOL

Not Dogecoin, Not Shiba Inu But Lesser-Known BOOK OF MEME And Cat In A Dogs World Token Emerge As Best-Performing Cryptos

The Joe Biden administration is reportedly considering restricting the export of advanced AI chips from Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) to specific countries.
What Happened: The proposal which hasn't been finalized yet aims to limit the AI capabilities of certain nations, citing national security concerns, with a focus on Persian Gulf countries, <a href="https://www.bloomberg.com/news/articles/2024-10-15/us-weighs-capping-exports-of-ai-chips-from-nvidia-and-amd-to-some-countries">reported</a> Bloomberg, citing people familiar with the matter.
The development comes following the introduction of the framework that intends to streamline the licensing process for AI chip shipments to data centers in regions such as the UAE and Saudi Arabia.
See Also: <a href="https://www.benzinga.com/news/24/10/41307824/nvidia-ceo-jensen-huang-praises-elon-musk-for-achieving-something-with-xai-in-19-days-that-usually-t">Nvidia CEO Jensen Huang Praises Elon Musk For Achieving Something With xAI In 19 Days That Usually Takes At Least A Year: &#8216;Singular In His Understanding Of Engineering&#8217;</a>
If finalized, these caps would strengthen restrictions initially aimed at curbing China's ambitions in AI.
The Biden administration has already <a href="https://www.benzinga.com/markets/asia/24/04/38024971/china-criticizes-us-chip-export-rules-impacting-nvidia-and-amd">limited AI chip exports</a> from companies such as Nvidia and AMD to over 40 nations across the Middle East, Africa, and Asia due to concerns that the technology could be redirected to China.
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: Previously, it was reported that despite U.S. semiconductor sanctions, Nvidia&#8217;s AI chips continue to find their way into Chinese markets <a href="https://www.benzinga.com/government/24/09/40748185/chinas-markets-still-manage-to-get-nvidia-ai-chips-via-smuggling-report">through smuggling</a> and other channels.&nbsp;
Meanwhile, China has <a href="https://www.benzinga.com/government/24/10/41204521/nvidias-gpu-sales-at-risk-as-china-pushes-local-ai-chips-in-retaliation">pushed for local AI chips</a> including those made by companies like Huawei Technologies, in retaliation against the U.S. sanctions. These efforts could impact Nvidia's GPU sales.
On Monday, Nvidia's stock reached an all-time high. The <a href="https://www.benzinga.com/news/24/10/41318786/nvidia-trump-media-technology-bausch-lomb-sirius-xm-and-other-big-stocks-moving-higher-on-monday">stock climbed 2.9%</a>, surpassing $138.71, after its prior record close of $135.58 set in June.
The AI chip giant currently has a market cap of $ 3.386, making it the second most valuable company in the world after Apple Inc.
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/news/24/10/41309060/nvidias-jensen-huang-says-chatgpt-led-to-awakening-of-ai-praises-sam-altmans-openai-as-one-of-most-c">Nvidia&#8217;s Jensen Huang Says ChatGPT Led To &#8216;Awakening Of AI,&#8217; Praises Sam Altman&#8217;s OpenAI As One Of Most Consequential Companies Of Our Time</a></li>
</ul>

Tech

Media

NVDA

Nvidia, AMD Face Chip Export Curbs, As Biden Administration Considers Restrictions On Middle-East Countries, Others: Report

Jefferies, a global investment bank, has identified three major companies that are poised to benefit from the booming anime industry, which is expected to <a href="https://www.benzinga.com/markets/equities/24/10/41274383/why-is-japanese-anime-production-company-bloomz-stock-jumping-on-thursday">reach a value of $60 billion by 2030</a>.
What Happened: The investment bank has pointed out Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Sony Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>), and Bandai Namco (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDF#OTC">NCBDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDY#OTC">NCBDY</a>) as the top beneficiaries of the expanding anime market, <a href="https://www.cnbc.com/2024/10/15/netflix-and-more-jefferies-names-stocks-set-to-benefit-from-a-60-billion-anime-boom.html">reported</a> CNBC.
Jefferies&#8217; analysts noted that the global entertainment industry is increasingly focusing on anime-related businesses as a core part of their growth strategies. The primary driver of this trend is the rapid expansion of the overseas market, which has grown to match the size of the Japanese market since the onset of the COVID-19 pandemic.
According to the analysts, &#8220;anime has become a mainstream culture in the U.S./Europe, with significant potential for expansion,&#8221; with significant potential for further expansion. They anticipate the market to double from $31.2 billion in 2023 to $60.1 billion by 2030.
The analysts predict that this growth will be driven by increased anime distribution on streaming platforms and a surge in licensing revenues from merchandise and advertising use.
Jefferies also highlighted the significant global impact of Japanese anime IP, with the top six franchises generating a combined revenue of $311 billion, dwarfing the Marvel Cinematic Universe&#8217;s $30 billion.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306653/anthony-scaramucci-praises-trump-for-shifting-the-crypto-debate-hes-now-forced-the-democra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Praises Trump For Shifting The Crypto Debate: &#8216;He&#8217;s Now Forced The Democrats To Come Back Into The Middle&#8217;</a>
Netflix, which has been actively licensing and funding several anime series, is expected to continue its anime strategy into the foreseeable future. Sony Group, described as a leader in anime production and streaming, is also set to benefit from the anime market. 
Bandai Namco, known for leveraging anime IP for various products and digital games, is experiencing rising anime IP popularity through overseas sales expansion. It has produced popular games like the Shonen Jump series and Dragon Ball franchise.
Why It Matters: The anime industry has been experiencing significant growth and diversification, with companies like BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) <a href="https://www.benzinga.com/markets/equities/24/10/41274383/why-is-japanese-anime-production-company-bloomz-stock-jumping-on-thursday">expanding their revenue streams</a> through strategic acquisitions and project rights. 
This growth has also been reflected in the music industry, with Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) <a href="https://www.benzinga.com/general/entertainment/24/08/40470764/spotify-boasts-395-surge-in-anime-music-streams-teams-up-with-crunchyroll">reporting a 395% surge</a> in anime music streams since 2021.
Meanwhile, Sony Group has been actively <a href="https://www.benzinga.com/general/gaming/24/07/39736917/sony-pocketpair-collaborate-to-expand-palworlds-global-presence">expanding its global presence</a> in the gaming industry through strategic collaborations, further solidifying its position in the anime market. 
This growth, however, has also raised concerns about copyright infringement, as seen in the case of a <a href="https://www.benzinga.com/markets/asia/23/09/34368362/japanese-youtuber-faces-jail-time-for-monetizing-gameplay-videos">Japanese YouTuber who was sentenced</a> to two years in prison for monetizing gameplay videos without permission from publishers.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41278873/gary-gensler-doubts-cryptocurrency-future-says-leading-figures-are-either-in-jail-or-await?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gary Gensler Doubts Cryptocurrency Future, Says Leading Figures Are Either In Jail Or Awaiting Extradition</a></li>
</ul>
Image Via Pixabay
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Entertainment

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NCBDF

NCBDY

NFLX

Sony Group Corporation American Depositary Shares

SONY

SPOT

Netflix One Of The Key Beneficiaries Of $60B Anime Boom, Says Jefferies — Here Are The Others

The team behind World Liberty Financial, a decentralized finance (DeFi) project backed by former President Donald Trump, stated that the best way to "Make "America Great" using cryptocurrencies was to encourage the usage of U.S. dollar-backed stablecoins rather than speculative, risky assets.&nbsp;&nbsp;
What happened: The team held a live stream via X Spaces Monday to give details about the widely-publicized project ahead of a token sale.
Zak Folkman, part of the founding team, said that the platform was inspired by the ideals envisioned by Donald Trump, which is to make financial opportunities accessible to everyone while at the same time supporting the U.S. economy
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/ZxXKTAH9HD">https://t.co/ZxXKTAH9HD</a>
&mdash; WLFI (@worldlibertyfi) <a href="https://twitter.com/worldlibertyfi/status/1845795823356985620?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
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"Through stablecoins, we can in fact make the dollar not only strong but make it safe as the world&#8217;s reserve currency for the next 5000 years," Folkman said.&nbsp;
He emphasized several advantages of the cryptocurrency derivatives of the dollar, such as their stable value and the 1:1 redemption feature.&nbsp;
"We really believe that&#8217;s the best way to make America great through crypto," Holkman stated. "It&#8217;s not through speculating on risky assets."
"Nobody&#8217;s gonna walk into a store and figure out ok, my groceries are $230, how many Satoshis is that? It just doesn&#8217;t make sense," Zolkman added further, pointing toward Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41319774/if-you-invested-1-000-in-bitcoin-when-warren-buffett-called-it-rat-poison-squared-heres-ho">If You Invested $1,000 In Bitcoin When Warren Buffett Called It &#8216;Rat Poison Squared,&#8217; Here&#8217;s How Much You&#8217;d Have Today</a>
Why It Matters: The much-touted DeFi project was launched by Trump last month, with<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303639/donald-trump-says-his-crypto-project-world-liberty-financial-will-start-selling-tokens-on-"> the sale of the project's governance token</a> WLFI set for Tuesday.&nbsp;
The project aims to raise $300 million from the initial sale of the token by offering 20% of the supply at a $1.5 billion fully diluted valuation.&nbsp;
Mark Cuban, a leading cryptocurrency advocate, and a Trump critic, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41307276/mark-cuban-questions-trumps-motive-behind-wlfi-token-sale-former-prez-failed-in-the-bitcoi">questioned the rationale behind such a move</a>, stating, "I&#8217;ll let this stand on its own."
Price Action: At the time of writing, Bitcoin was exchanging hands at $64,093.01, up 1.91% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.  
Image via Wikimedia Commons
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41322645/mark-cuban-defends-kamala-harris-crypto-knowledge-appears-to-take-dig-at-trump-for-selling">Mark Cuban Defends Kamala Harris&#8217; Crypto Knowledge, Appears To Take Dig At Trump For Selling Tokens And Merchandise: &#8216;Unlike Your Guy, She Doesn&#8217;t Pretend&#8217;</a></li>
</ul>

Trump-Backed World Liberty Financial Says Dollar-Pegged Stablecoin And Not Bitcoin Is The Best Way To 'Make America Great'

On Monday, Cathie Wood&#8217;s Ark Invest made significant trades, with the most notable being the sale of Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shares across multiple ETFs.
The HOOD Trade: Ark Invest, under the leadership of Cathie Wood, sold off 210,374 Robinhood shares. The ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) sold 14,458 shares, while the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) offloaded 181,900 shares. Notably on the day, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged above $65,000, driven by bullish sentiment and liquidations of downside bets, with market confidence boosted ahead of U.S. elections and a shift from neutral to greed in market sentiment. Robinhood, a popular platform among retail traders, enables users to trade cryptocurrencies such as Bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
The ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) also participated in the sell-off, disposing of 14,016 Robinhood shares while Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) sold another 14,458 shares. The total value of the trade, based on the closing price of $27.00, is approximately $5.7 million.
Robinhood has been in the spotlight recently, with the company announcing its <a href="https://www.benzinga.com/news/24/10/41233588/whats-going-on-with-robinhood-stock">first investor day</a> scheduled for December 4, 2024. The event, to be held in New York City, will be live-streamed and will provide an opportunity for the company to share its vision for the next decade. The announcement of the investor day had initially led to a surge in Robinhood&#8217;s stock price.
Earlier in the year, Robinhood reported impressive second-quarter earnings, with a 40% year-over-year increase in revenue and a significant 161% increase in crypto revenue. The platform also reached a milestone of 2 million Gold subscribers. Despite these positive developments, Ark has been on a Robinhood selling spree. It&#8217;s worth noting that Ark Invest had previously <a href="https://www.benzinga.com/markets/equities/24/10/41242937/cathie-woods-ark-invest-trades-bets-14m-on-amazon-shares-dumps-robinhood-stock-worth-36m-embrace">dumped</a> $36 million worth of Robinhood stock earlier this month.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41303723/jim-cramer-says-im-worried-about-boeing-after-plane-maker-lays-off-17-000-employees-amid-safety-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says &#8216;I&#8217;m Worried&#8217; About Boeing After Plane Maker Lays Off 17,000 Employees Amid Safety And Financial Woes: &#8216;A Very Jarring Series Of News Tonight&#8217;i</a> 
Other Key Trades:
<ul>
<li>Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares were bought by ARKX. The firm sold 2,400 shares worth $396,648.</li>
<li>Markforged Holding Corp (MKFG) shares were sold by the ARK Autonomous Technology &amp; Robotics ETF (ARKQ) and the ARK Space Exploration &amp; Innovation ETF (ARKX). Materialise NV (MTLS) shares were sold by ARKQ. Blade Air Mobility Inc (BLDE) shares were bought by ARKQ and ARKX.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303762/trumps-election-odds-on-polymarket-gary-genslers-doubts-about-cryptocurrencys-future-shiba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Election Odds On Polymarket, Gary Gensler&#8217;s Doubts About Cryptocurrency&#8217;s Future, Shiba Inu Lead Developer&#8217;s Cryptic Post Sparks Intrigue And More: This Week In Crypto</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

$ETH

ARKF

ARKK

ARKW

HOOD

Cathie Wood's Ark Invest Sells $5.7M Of Robinhood Shares As Bitcoin Surge Ignites Crypto Market — Buys Stock Of Nvidia Rival AMD

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly experiencing a shortage in inventory for several of its products, leading to speculation about the imminent launch of new models.
What Happened: On Monday, Bloomberg columnist Mark Gurman took to X, formerly Twitter, and said that retail inventory for several Apple products, including iMacs, MacBook Pros, Mac minis, iPad minis, and their accessories, is running low.
Such inventory shortages are often indicative of a company preparing to introduce updated versions of its products.
Interestingly, Gurman pointed out that the entry-level iPad is not experiencing the same inventory issues.
See Also: <a href="https://www.benzinga.com/news/24/10/41306527/apples-low-cost-vision-pro-could-hit-the-shelves-next-year-everything-you-need-to-know-about-iphone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Low-Cost Vision Pro Could Hit The Shelves Next Year — Everything You Need To Know About iPhone Maker&#8217;s Plan To Challenge Meta</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Retail inventory for iMacs, MacBook Pros, Mac minis, iPad minis, iPad mini accessories continues to dwindle. Not seeing the same for entry iPad, for those wondering.
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1845892792762954042?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
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Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this month, a Russian YouTuber <a href="https://www.benzinga.com/news/24/10/41199834/unreleased-m4-macbook-pro-shown-off-by-russian-youtuber-weve-seen-prototypes-leak-early-but-never-a">reportedly tested an unannounced</a> M4 MacBook Pro, which was expected to be launched in November.
The video suggested that the M4 MacBook Pro would come with 512GB of storage and 16GB of RAM. This leak came during the same time when Gurman reported that Apple is likely to unveil its first M4-powered Macs on Nov. 1.
The expected lineup includes a 14-inch MacBook Pro with the M4 chip, along with higher-end 14-inch and 16-inch MacBook Pros featuring the M4 Pro and M4 Max chips.
He noted that Apple could also introduce a refreshed iMac with the M4 chip, a revamped Mac mini with M4 and M4 Pro options, <a href="https://www.benzinga.com/news/24/08/40567373/apple-prepping-ipad-mini-refresh-top-analyst-says-stock-shortages-hint-at-ai-powered-update-after-tw">and a new iPad mini</a>.
Early next year, Apple may release 13-inch and 15-inch MacBook Airs with M4, a new iPhone SE, 11-inch and 13-inch iPad Airs, updated Magic Keyboards for the iPad Air, <a href="https://www.benzinga.com/news/24/05/38911822/upgraded-apple-airtag-with-advanced-chip-and-superior-location-tracking-set-for-2025-launch-says-mar">and a refreshed AirTag</a>.
Mac Studio and Mac Pro models equipped with M4 chips are also in development, with Mac Studio anticipated mid-2025 and Mac Pro arriving later in the year.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41307824/nvidia-ceo-jensen-huang-praises-elon-musk-for-achieving-something-with-xai-in-19-days-that-usually-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Praises Elon Musk For Achieving Something With xAI In 19 Days That Usually Takes At Least A Year: &#8216;Singular In His Understanding Of Engineering&#8217;</a></li>
</ul>
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.

AAPL

Apple To Launch New MacBooks Pro, iPad Minis and iMacs? Analyst Says Inventory Dwindling For These Gizmos

Leading cryptocurrencies rallied handsomely Monday, coinciding with fresh highs scaled by stocks.
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<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+5.40%</td>
<td>$65,895.00</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+6.86%</td>
<td>$2,620.94</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+6.43%</td>
<td>$0.1175</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin jumped above $65,000 during morning trading hours and rose to $66,434 late evening, the highest it has been since July 30. 
Ethereum also rose to a two-week high of $2,630, representing a nearly 7% jump in the last 24 hours.&nbsp;
Digital asset trading firm QCP Capital highlighted historical similarities with Bitcoin's upward price action preceding the U.S. elections.&nbsp;
More than $245 million was liquidated from leveraged positions in the last 24 hours, with downside bets worth $209 million getting wiped out.&nbsp;
Bitcoin's Open Interest-Weighted Funding Rate surged to levels not seen since late July, signaling the dominance of bullish leveraged traders. 
The market sentiment dramatically shifted from "Neutral" to "Greed," according to the Cryptocurrency Fear &amp; Greed index, indicating a potential surge in buying pressure.&nbsp;
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>BOOK OF MEME (BOME)</td>
<td>+37.17%</td>
<td>$0.01069</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+28.53%</td>
<td>$0.008632</td>
</tr>
<tr>
<td>Bitcoin Cash (BCH)</td>
<td>+18.28%</td>
<td>$380.39</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.29 trillion, following a jump of 4.75% in the last 24 hours.
Stocks registered a blockbuster opening in the new trading week. The Dow Jones Industrial Average popped 201.36 points, or 0.47%, to close at a record high of 43,065.22. The S&amp;P 500 jumped 0.77% to end at 5,859.85, also a record high. The tech-heavy Nasdaq Composite gained 0.87% to hit 18,502.69.
The rally was fueled by AI juggernaut Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) record close Monday after its shares rose 2.4% in the regular trading session.
The earnings season kicked off with JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41289783/jpmorgan-chase-q3-earnings-investment-banking-revenue-soars-29-raises-fy24-net-interest-income-outl">reporting their third-quarter numbers last week</a>. This week, investors were keeping a careful eye on the next batch of big earnings reports from major banks and technology companies, including Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst Ali Martinez drew attention to his projection from last month and how things were going as anticipated.
On Sept. 23, the analyst had predicted Bitcoin's fall to $60,000, followed by a rebound to $66,000, a retrace to $57,000, and finally a breakout toward $78,000.
Martinez remarked that with the first three prerequisites met, King Crypto was on track for $78,000.
<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">drop to $60,000, &#x1f3af; rebound to $66,000, &#x1f3af; retrace to $57,000, &#x1f3af; $78,000 next! <a href="https://t.co/HwoRrlM0D2">https://t.co/HwoRrlM0D2</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1845958125708275918?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely-followed technical analyst, Rekt Capital stated that Bitcoin needed one daily close above $65,000 and a subsequent retest to sail into the $65000-$71350 area.
"Each of these moves have ended in lower highs, but there is a good chance that this series of lower highs could end with a daily close above $65,000," the analyst said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Daily Candle Closes above ~$65000 (blue) followed by successful retests have enabled moves into the $65000-$71350 region Each of these moves have ended in Lower Highs but there is a good chance that this series of Lower Highs could end with a Daily Close above $65K… <a href="https://t.co/QmmQwLcDaI">pic.twitter.com/QmmQwLcDaI</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1845790784034943243?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Igor Faun on Shutterstock
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Bitcoin, Ethereum, Dogecoin Soar As Stocks Register New All-Time Highs: Top Analyst Says King Crypto On Track Toward $78K

Leading economists and policymakers have lauded the decision to award the Nobel Prize in Economic Sciences to Daron Acemoglu, Simon Johnson, and James Robinson for their groundbreaking research on global wealth inequality and <a href="https://www.benzinga.com/news/24/10/41310241/us-economists-daron-acemoglu-simon-johnson-and-james-robinson-win-nobel-prize-for-groundbreaking-res">institutional impacts on economic development</a>.
What Happened: Gita Gopinath, Deputy Managing Director of the International Monetary Fund, took to social media to congratulate the winners. &#8220;Good institutions are critical to a country&#8217;s prosperity,&#8221; Gopinath emphasized, underscoring the significance of the trio&#8217;s work.
<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">Congratulations <a href="https://twitter.com/DrDaronAcemoglu?ref_src=twsrc%5Etfw">@DrDaronAcemoglu</a>, <a href="https://twitter.com/baselinescene?ref_src=twsrc%5Etfw">@baselinescene</a>, James Robinson for winning the prize! Good institutions are critical to a country&#39;s prosperity. <a href="https://twitter.com/hashtag/NobelPrize?src=hash&amp;ref_src=twsrc%5Etfw">#NobelPrize</a> <a href="https://t.co/Vrd0KDve31">https://t.co/Vrd0KDve31</a>
&mdash; Gita Gopinath (@GitaGopinath) <a href="https://twitter.com/GitaGopinath/status/1845811939596742933?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Paul Krugman, a Nobel laureate himself, praised the winners&#8217; research on X. &#8220;Their work on how colonial regimes focused on resource extraction inflicted long-term damage was clever and important,&#8221; Krugman wrote, noting its current relevance.
<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">Congrats to Acemoglu/Johnson/Robinson for their Nobel. Their work on how colonial regimes focused on resource extraction inflicted long-term damage was clever and important. Also of some current relevance, but I'll save that for another post.
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1845798093582725391?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Jason Furman, a key figure in the 44th President Barack Obama&#8216;s administration, offered a detailed analysis of the award&#8217;s importance. He congratulated the winners &#8220;for helping to show how empiricism can shed light on some of the deepest and most important questions we face&#8211;in this case why some countries are rich and some are poor.&#8221;
Furman contextualized the award within the broader evolution of economic growth theory. He contrasted the empirical approach of Acemoglu, Johnson, and Robinson with earlier theoretical models, such as those of Robert Solow and Paul Romer. &#8220;Unlike theory, empiricism is like an edifice that builds up over time with the higher layers subsuming the lower ones,&#8221; Furman explained. &#8220;But the edifice will be taller and stronger because of their work.&#8221;
<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">The Solow model basically organizes an obvious point: growth comes from capital, labor and technology. It has a few interesting implications, like convergence due to diminishing returns. But it does not answer the big questions: where do the capital, labor &amp; technology come from.
&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1845802508368707709?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Dani Rodrik of Harvard Kennedy School praised the recipients for reinvigorating institutional studies in mainstream economics. &#8220;They revived and made cool again the study of institutions in mainstream economics,&#8221; Rodrik tweeted. &#8220;Their work stimulated a huge literature that grows by the day.&#8221;
<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">Congratulations to Daron Acemoglu, Simon Johnson, and James Robinson. They revived and made cool again the study of institutions in mainstream economics. Their work stimulated a huge literature that grows by the day.
&mdash; Dani Rodrik (@rodrikdani) <a href="https://twitter.com/rodrikdani/status/1845770162751914173?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41317881/hurricane-milton-to-deliver-2-5b-blow-to-floridas-homebuilding-sector-goldman-sachs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hurricane Milton To Deliver $2.5B Blow To Florida&#8217;s Homebuilding Sector, Goldman Sachs Says</a>
Why It Matters: The Nobel Committee recognized the U.S.-based economists for their research on how societies with inadequate legal frameworks and exploitative institutions struggle to achieve economic growth. Acemoglu and Johnson are professors at the Massachusetts Institute of Technology, while Robinson directs the University of Chicago&#8217;s Pearson Institute.
This award follows the recent Nobel Prize in Physics awarded to Geoffrey Hinton and John Hopfield for their foundational <a href="https://www.benzinga.com/news/24/10/41233245/ai-godfather-geoffrey-hinton-wins-nobel-prize-for-artificial-intelligence-work-work-has-already-been">work in artificial intelligence</a>. 
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Image Via Flickr
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors

Economics

IMF's Gita Gopinath, Paul Krugman And Other Economists Hail Nobel Prize Win For Acemoglu, Johnson, And Robinson: 'Made Cool Again The Study Of Institutions'

The stock market continued its bullish run on Monday, with the S&amp;P 500 and the Dow Jones Industrial Average hitting record highs. The S&amp;P 500 surged past 5,850 points, while the Dow Jones broke the 43,000 mark for the first time. However, the Nasdaq 100 lagged behind, gaining 0.9% but remaining about 1% below its all-time high set on July 10. Amidst this market performance, certain stocks caught the attention of retail traders and investors.
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) saw a rise of 2.43%, closing at $138.07. The stock&#8217;s intraday high was $139.60, with a low of $136.30. Its 52-week high and low are $140.76 and $39.23 respectively. A Chinese government-backed think tank has urged the country&#8217;s data centers to continue using Nvidia&#8217;s high-performance chips, citing the substantial costs and <a href="https://www.benzinga.com/news/24/10/41317732/whats-going-on-with-nvidia-stock-on-monday">complexity involved</a> in transitioning to domestic alternatives. 
MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) dropped by 5.14% to close at $201.67. The stock reached a 52-week high of $227.15 before pulling back. Its intraday low was $201.43, and its 52-week low stands at $32.1. The company&#8217;s shares were <a href="https://www.benzinga.com/news/24/10/41320228/microstrategy-shares-hit-new-52-week-highs-before-pulling-back-heres-whats-going-on">influenced</a> by the surge in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices, given MicroStrategy&#8217;s significant Bitcoin holdings. 
See Also: <a href="https://www.benzinga.com/news/24/10/41309748/columbus-day-is-stock-market-open-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Columbus Day: Is Stock Market Open Today?</a>
Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) surged 18.47% to close at $29.95. The stock&#8217;s intraday high and low were $30.47 and $25.25, respectively, with a 52-week high of $79.38 and a low of $22.55. The company announced the release of its Truth+ <a href="https://www.benzinga.com/news/24/10/41317581/whats-going-on-with-trump-media-technology-stock-monday">streaming service</a>, contributing to the stock&#8217;s rise. 
SoFi Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) jumped 11.43% to close at $10.04. The stock&#8217;s intraday high was $10.07, with a low of $9.38. Its 52-week high and low are $10.49 and $6.01, respectively. The company announced a <a href="https://www.benzinga.com/news/24/10/41313080/sofi-technologies-stock-is-surging-monday-whats-going-on">$2 billion loan agreement</a> with Fortress Investment Group, boosting its stock. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) saw a modest increase of 0.62%, closing at $219.16. The stock&#8217;s intraday high was $221.91 and its low was $213.74. Its 52-week high and low are $271 and $138.8, respectively. Tesla&#8217;s aggressive discounts on new models have led to a <a href="https://www.benzinga.com/news/24/10/41311047/teslas-aggressive-price-cuts-trigger-25-drop-in-used-ev-prices-leaving-dealers-struggling">significant drop</a> in used EV prices, creating a challenging scenario for EV owners and dealers.
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

MSTR

SOFI

TSLA

Nvidia, Microstrategy, Trump Media & Technology, Sofi Technologies, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

In a recent post on X, SpaceX CEO Elon Musk outlined his vision for making life multiplanetary, emphasizing the need for a significant leap in rocket technology to reduce costs.
What Happened: On Monday, Musk responded to a post about the cost of launching to low earth orbit. He explained that to make life multiplanetary, rocket and spacecraft technology needs to improve by 1000X. He pointed out that recent US Mars missions have cost about $1B per ton of useful load to the surface of Mars, a figure that has been increasing over time.
<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">Since your handle is "Whole Mars", perhaps this lengthy reply is apropos: Getting the cost per ton to the surface of Mars low enough that humanity has the resources to make life multiplanetary requires a roughly 1000X improvement in rocket &amp; spacecraft technology. Recent US… <a href="https://t.co/BdasygYS5q">https://t.co/BdasygYS5q</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1846001324246319409?ref_src=twsrc%5Etfw">October 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk emphasized the monumental cost hurdles humanity faces in making life on Mars a reality, while expressing optimism about future advancements in rocket technology. Musk, responding to a user with the handle &#8220;Whole Mars Catalog.&#8221;
Musk began by acknowledging the astronomical costs involved, stating that recent U.S. Mars missions have had a cost per ton of useful load to the Martian surface at around $1 billion. "It has become more, not less, expensive over time!" he added, stressing the increasing difficulty of reducing these costs with existing technology.
He explained that building a self-sustaining city on Mars would require at least a million tons of equipment, amounting to a cost of over $1,000 trillion. Musk highlighted the impracticality of this figure, pointing out that it far exceeds the current U.S. GDP of $29 trillion.
However, Musk expressed confidence that advancements in rocket technology could bring this cost down by 1,000 times, potentially making the total cost for colonization around $1 trillion. He added that if this could be spread over 40 years, it would translate to less than $25 billion annually, a more feasible number that &#8220;wouldn't materially affect people's standard of living on Earth.&#8221;
Musk specifically pointed to SpaceX's Starship, which is designed to achieve the 1,000X improvement needed to reduce costs. He noted the success of recent tests, stating, "especially after yesterday's <a href="https://www.benzinga.com/news/24/10/41305295/spacex-notches-another-milestone-with-first-booster-catch">booster catch</a> and precise ocean landing of the ship, I am now convinced that it can work."
See Also: <a href="https://www.benzinga.com/news/24/10/41301725/elon-musk-says-robovans-angular-design-inspired-by-art-deco-trains-unusually-low-ground-clearance-en?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Robovan&#8217;s Angular Design Inspired By Art Deco Trains, &#8216;Unusually Low&#8217; Ground Clearance Enabled By Automatic Load-Leveling Suspension</a>
Why It Matters: Musk&#8217;s SpaceX has been making strides towards this goal. On Sunday, the company&#8217;s <a href="https://www.benzinga.com/news/24/10/41303518/starship-to-fly-again-on-sunday-after-spacexs-long-war-of-words-with-regulator-over-frivolous-licens">Starship had its fifth test flight</a>, following a long battle with the Federal Aviation Administration (FAA). The Starship, touted as the most powerful rocket ever built, successfully completed the flight, which included a first-of-its-kind "catch" of the booster back at the launch tower.
This significant accomplishment for SpaceX follows nearly 18 years after its first rocket launch. The <a href="https://www.benzinga.com/news/24/10/41317860/elon-musk-went-from-examining-debris-from-falcon-1-flight-to-spacex-successfully-catching-booster-of">Starship&#8217;s design demonstrates reusability</a>, a crucial factor in reducing costs and making Musk&#8217;s vision of affordable Mars colonization a reality.
Image via Shutterstock
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Elon Musk's Mars Mission Math: 'Building A Self-Sustaining City Would Require At Least A Million Tons Of Equipment' — The Price Tag: A Mind-Boggling $1000 Trillion

Sebastien Bubeck, the vice president of GenAI research at&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is set to join ChatGPT-parent, OpenAI.
What Happened: While Bubeck&#8217;s new role at OpenAI remains undisclosed, a Microsoft spokesperson confirmed the move, reported Reuters.
&#8220;Sebastian has decided to leave&nbsp;Microsoft to further his work&nbsp;toward developing AGI,&#8221; the spokesperson stated, expressing the company&#8217;s anticipation to continue&nbsp;their relationship through Bubeck&#8217;s work&nbsp;with OpenAI.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41196932/legendary-apple-co-founder-steve-jobs-once-said-being-the-richest-man-in-the-cemetery-doesnt-matter?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Legendary Apple Co-Founder Steve Jobs Once Said, &#8216;Being The Richest Man In The Cemetery Doesn&#8217;t Matter To Me:&#8217; Maybe That&#8217;s Why His Impact Transcends Financial Success For iPhone-Maker And Beyond</a>
The Information initially <a href="https://www.theinformation.com/briefings/microsoft-ai-researcher-sebastien-bubeck-to-join-openai?rc=v4bmzs">reported</a> Bubeck&#8217;s departure, stating that most of his coauthors from the research paper on Microsoft&#8217;s Phi LLMs—smaller than conventional large language models—are still with the company and intend to keep advancing the models.
This move&nbsp;follows a series of departures&nbsp;from OpenAI, including the exit&nbsp;of longtime chief technology officer&nbsp;Mira Murati in September.
However, OpenAI CEO Sam Altman has refuted any connection between these&nbsp;departures and the company&#8217;s planned restructuring, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Bubeck&#8217;s move to OpenAI comes at a time when&nbsp;<a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41237091/microsoft-stock-nears-death-cross-as-openai-partnership-weakens-time-to-lock-in-gains">Microsoft&#8217;s partnership with OpenAI</a>&nbsp;is reportedly showing signs of strain.
Previously, it was reported that OpenAI is moving towards greater autonomy from Microsoft&#8217;s cloud services by leasing data centers from Oracle Corp in Texas.
Earlier this month, OpenAI secured $6.6 billion in one of the largest venture <a href="https://www.benzinga.com/startups/24/10/41312615/investors-pour-billions-into-openai-whats-driving-this-unprecedented-surge-in-funding">capital funding rounds in U.S. history</a>.
This deal values the San Francisco-based startup at a staggering $157 billion, with big-name backers including Thrive Capital, Microsoft, and Nvidia betting on OpenAI's potential to reshape the future.
Image via ChatGPT
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/24/10/41307048/elon-musks-spacex-was-once-called-a-dream-seller-by-this-potent-rival-now-pierre-ferragu-warns-compa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s SpaceX Was Once Called A Dream Seller By This Potent Rival, Now Pierre Ferragu Warns Companies Never To Underestimate Underdog Innovators Like Nokia And BlackBerry Did</a></li>
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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.

MSFT

Sam Altman-Led OpenAI Welcomes Microsoft's GenAI Research VP Following Wave Of Executive Departures

Mark Cuban, billionaire entrepreneur and vocal supporter of Vice President Kamala Harris, defended the Democratic presidential candidate&#8217;s grasp of cryptocurrencies and the significance they hold for young people.
What Happened: On Monday, Cuban defended Harris against allegations that the vice president lacked even a basic understanding of cryptocurrency and monetary policy. 
&#8220;She doesn't know everything. Unlike your guy [Trump], she doesn't pretend. She understands the connection cryptocurrency has to young people. And she spoke about it today,&#8221; Cuban said, highlighting Harris&#8217; latest cryptocurrency regulatory framework.
Cuban also took potshots at Republican challenger Donald Trump, stating that Harris was not trying to sell <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41307276/mark-cuban-questions-trumps-motive-behind-wlfi-token-sale-former-prez-failed-in-the-bitcoi">tokens</a>, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40076664/trump-launches-limited-edition-bitcoin-themed-sneakers-following-bitcoin-2024-keynote-repo">sneakers</a>, bibles, etc. 
<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">She doesn't know everything. Unlike your guy, she doesn't pretend. She understands the connection crypto has to young people. And she spoke about it today. She understands it's a valuable technology that needs to grow here. She spoke about it in Pittsburgh She also… <a href="https://t.co/b9HbEteBZM">https://t.co/b9HbEteBZM</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1845949435811188783?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
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The famous &#8216;Shark Tank&#8217; celebrity also replied to concerns about why Harris cannot transfer state-owned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to the Treasury Department to demonstrate her support for the leading cryptocurrency.
&#8220;There is a law in place that currently prevents it. Obviously, it&#8217;s been discussed. But no one can change it unilaterally,&#8221; Cuban said. 
Considered a close advisor to the Harris campaign team, Cuban said he argued for holding onto confiscated cryptocurrency assets and warned against the consequences of dumping a huge quantity of Bitcoins into the market in quick successions.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41278873/gary-gensler-doubts-cryptocurrency-future-says-leading-figures-are-either-in-jail-or-await?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gary Gensler Doubts Cryptocurrency Future, Says Leading Figures Are Either In Jail Or Awaiting Extradition</a>
Why It Matters: Harris recently unveiled a <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41319364/kamala-harris-unveils-crypto-regulatory-framework-as-part-of-outreach-toward-black-male-vo">cryptocurrency regulatory framework</a> as part of her "Opportunity Agenda for Black Men," signaling a potential shift in the Democratic approach to digital assets. However, the decision faced criticism from some industry leaders over the narrow focus on black men.
Earlier, Cuban <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41307276/mark-cuban-questions-trumps-motive-behind-wlfi-token-sale-former-prez-failed-in-the-bitcoi">criticized Trump&#8217;s upcoming sale of tokens</a>, which were tied to his much-touted decentralized finance (DeFi) project, World Liberty Financial (WLFI).
Cuban has <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41314578/mark-cuban-to-replace-gary-gensler-under-harris-administration-if-asked-i-would-want-to-be">expressed dissatisfaction with the current SEC Chair</a> Gary Gensler‘s approach to regulating the cryptocurrency industry and floated his name as a potential <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41314578/mark-cuban-to-replace-gary-gensler-under-harris-administration-if-asked-i-would-want-to-be">SEC chair candidate</a> should Harris win the U.S. presidency.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303639/donald-trump-says-his-crypto-project-world-liberty-financial-will-start-selling-tokens-on-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Says His Crypto Project World Liberty Financial Will Start Selling Tokens On Tuesday</a></li>
</ul>

Mark Cuban Defends Kamala Harris' Crypto Knowledge, Appears To Take Dig At Trump For Selling Tokens And Merchandise: 'Unlike Your Guy, She Doesn't Pretend'

Trump-Era White House national security advisor, John Bolton, has called on Israel to target Iran&#8217;s nuclear program, despite worldwide appeals for moderation following Iran&#8217;s recent missile attack.
What Happened: Bolton said on X on Monday, &#8220;The Israeli government should consider retaliating against Iran by going after its nuclear weapons program.&#8221;
&#8220;Iran having nuclear weapons directly threatens Israel&#8217;s national security as well as America&#8217;s.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Israeli government should consider retaliating against Iran by going after its nuclear weapons program. Iran having nuclear weapons directly threatens Israel&#39;s national security as well as America&#39;s. <a href="https://t.co/Eld6ErQhn2">https://t.co/Eld6ErQhn2</a>
&mdash; John Bolton (@AmbJohnBolton) <a href="https://twitter.com/AmbJohnBolton/status/1845953227864658312?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
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He shared an <a href="https://globalnews.ca/news/10808015/israel-iran-nuclear-program-john-bolton/">article</a> from Canada&#8217;s Global News in which he was quoted as saying, &#8220;I think that's the point where Israel can have the maximum impact, precisely by going after the nuclear weapons program.&#8221; The former U.S. official said that there was &#8220;no guarantee&#8221; that Israel would have another opportunity that was as good.
In an interview with Mercedes Stephenson on The West Block, Bolton underscored the need for Israel to prevent Iran&#8217;s next attack from involving a nuclear warhead, according to the report.
&#8220;If you're Israel, and you've seen in both the April attack from Iran and the Oct. 1 attack hundreds of ballistic missiles launched at you, you could have no confidence that the next time you see a ballistic missile coming from Iran, that under its nose cone it might not have a nuclear weapon.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/10/41303750/elon-musks-new-cybercab-does-not-have-stainless-steel-exterior-panels-like-cybertruck-despite-other?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s New Cybercab Does Not Have Stainless Steel Exterior Panels Like Cybertruck Despite Other Resemblances, Says Tesla Engineer: &#8216;Mass And Cost…Is Undesirable&#8217;</a>
Why It Matters: Bolton has previously <a href="https://www.benzinga.com/news/24/10/41199882/trump-era-nsa-john-bolton-calls-for-regime-change-in-iran-hope-israels-actions-are-beginning-of-the">advocated for regime change in Iran</a> and has criticized Iran&#8217;s role in attacks on Israeli civilians. His latest call for action comes after Israeli Prime Minister Benjamin Netanyahu <a href="https://www.benzinga.com/news/24/10/41321699/oil-prices-drop-after-netanyahu-says-israel-will-attack-military-not-oil-or-nuclear-targets-in-iran">expressed willingness to strike military targets</a> rather than oil or nuclear facilities in Iran. This decision was seen as a move to avoid political interference in the U.S. elections and to prevent a surge in energy prices.
However, experts have warned that any Israeli military action targeting Iranian facilities could <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41309234/israels-attack-on-iran-would-rattle-the-nerves-of-oil-market-says-expert">significantly impact global oil prices</a> and lead to potential disruptions in the energy markets. This adds another layer of complexity to the already tense geopolitical situation.
Notably oil prices fell on Monday after Netanyahu said that Israel will not target Iran&#8217;s oil or nuclear targets.At the time of writing WTI Crude November 2024 futures traded 2.9% lower at $71.70. ICE Brent Crude December 2024 futures were down 2.8% at $75.28.
The United States Oil Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) ended Monday lower by 2% at $75.93 while the iShares US Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>) closed 1.1% lower at $96.03.
Image via Flickr/ Gage Skidmore
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

John Bolton Says Israel Should Strike Iran By 'Going After Its Nuclear Weapons Program' — Tehran's Nukes Threaten America's Security

Leading Chinese carmakers have dismissed the idea of challenging Europe&#8217;s legacy manufacturers with <a href="https://www.benzinga.com/news/24/10/41311787/tesla-rival-byd-slams-eu-tariffs-on-chinese-evs-needs-more-positive-education-trust-is-low">cheaper electric vehicles</a>.
What Happened: At the Paris motor show, Chinese carmakers, including Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and Guangzhou Automobile Group Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GNZUF#OTC">GNZUF</a>), emphasized their long-term commitment to the European market. This comes amidst a trade war between Beijing and Brussels and fears of a potential &#8220;invasion,&#8221; <a href="https://www.ft.com/content/f0e8cf38-c5b3-4288-b9b3-4f12132628d3">reported</a> the Financial Times on Sunday.
&#8220;We&#8217;re a 10-year-old company. We&#8217;re not going to overthrow anybody who&#8217;s developed over 100 years,&#8221; said Xpeng co-president Brian Gu, while showcasing an electric saloon with advanced artificial intelligence technology. He added that Xpeng aims to be the provider of &#8220;premium electric vehicles&#8221; in Europe and does not intend to compete on price.
Chinese state-owned carmaker GAC, which is also making inroads in the region, echoed a similar sentiment, emphasizing the potential economic benefits of its entry into the European markets and its willingness to collaborate with European suppliers.
See Also: <a href="https://www.benzinga.com/news/24/10/41301725/elon-musk-says-robovans-angular-design-inspired-by-art-deco-trains-unusually-low-ground-clearance-en?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Robovan&#8217;s Angular Design Inspired By Art Deco Trains, &#8216;Unusually Low&#8217; Ground Clearance Enabled By Automatic Load-Leveling Suspension</a>
These statements come amid growing political anxiety in Europe over the potential risks posed to the region&#8217;s industry. In early October, EU member states <a href="https://www.benzinga.com/news/24/07/39635158/eu-imposes-provisional-duties-of-as-much-as-37-6-on-chinese-ev-imports">agreed on tariffs of up to 45% on Chinese EVs</a> in an effort to counter their advance. This has led to a series of profit warnings from local manufacturers.
Why It Matters: The European Union&#8217;s protectionist stance against Chinese EVs has been a point of contention in the industry. The EU&#8217;s decision on tariffs for Chinese EVs could potentially lead to a <a href="https://www.benzinga.com/news/24/10/41143690/european-tariffs-on-chinas-ev-makers-could-backfire">wider trade war with China</a>, as the 27-member bloc&#8217;s protectionist stance could hurt its export-dependent companies, and its EV targets, and threaten critical raw material supplies.
China has also <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">warned the EU</a> about the potential negative impacts on trade, especially with Germany, if the EU imposes tariffs on Chinese EVs. The situation has raised concerns about increased costs for consumers and potential impacts on the automotive market.
Meanwhile, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) has <a href="https://www.benzinga.com/news/24/10/41311787/tesla-rival-byd-slams-eu-tariffs-on-chinese-evs-needs-more-positive-education-trust-is-low">slammed the proposed EU tariffs</a> on Chinese-made EVs, warning that they could increase costs and discourage buyers. This warning comes as European and Chinese automakers compete at the Paris car show, the largest in Europe, during a time of weak demand and rising costs.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Poured $1B A Year Into Its Car Project Before Abandoning It. Tim Cook&#8217;s Company Now Pulls Plug On Autonomous Vehicle Testing Permit In California: Here&#8217;s More</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Eurozone

BYDDF

BYDDY

GNZUF

XPEV

Tesla's Chinese Rivals Move To Calm Fears Of An European 'Invasion' That Threatens Legacy Players: 'Not Going To Overthrow Anybody Who's Developed Over 100 Years'

Former President Donald Trump has gained a slight lead over Vice President Kamala Harris among early voters in battleground states.
What Happened: The Harvard CAPS/Harris poll reveals that 48% of early voters in key swing states are in favor of Trump, while Harris has the support of 47%. An additional 5% of the respondents either opted for another candidate or had not yet cast their vote. &#8220;Trump's swing state strategy is paying off,&#8221; noted Mark Penn, the poll&#8217;s co-director, <a href="https://thehill.com/homenews/campaign/4932890-donald-trump-kamala-harris-battleground-states-harvard-harris-survey/">reported</a> The Hill.
Despite Trump&#8217;s slight advantage in swing states, Harris holds a substantial 8-point lead among early voters nationwide, with 51% support compared to Trump&#8217;s 43%. Overall, 45% of voters stated they&#8217;d be voting early, while 50% intend to vote on Election Day.
The poll, conducted from October 11-13, was based on responses from 3,145 registered voters, including 2,596 likely voters and 898 battleground state voters. The margin of error for the total sample was plus or minus 1.8 percentage points.
With less than a month to go until Election Day, the race for the Oval Office is incredibly close, with key battleground states expected to play a decisive role.
See Also: <a href="https://www.benzinga.com/government/24/10/41308384/mark-cuban-clashes-with-bill-ackman-after-billionaire-fund-manager-calls-kamala-harris-startup-tax-d?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Clashes With Bill Ackman After Billionaire Fund Manager Calls Kamala Harris&#8217; Startup Tax Deduction Proposal &#8216;Extremely Misleading:&#8217; &#8216;We Need To Get You Watching Shark Tank&#8217;</a>
Why It Matters: Earlier, a <a href="https://www.benzinga.com/news/24/10/41306411/kamala-harris-leads-trump-but-most-americans-are-pessimistic-about-the-nations-direction-poll-shows">CBS News poll</a> showed Harris leading Trump by 3 points. However, most Americans expressed a pessimistic outlook on the state of the country.
Simultaneously, the Democratic Party saw a dip in voter registration advantage in key battleground states like Pennsylvania, North Carolina, and Nevada, potentially posing a challenge for Harris, as reported by <a href="https://www.benzinga.com/news/24/10/41306291/trouble-for-kamala-harris-ahead-pennsylvania-north-carolina-nevada-democrats-lose-voter-registration">Benzinga</a>.
Despite these challenges, an <a href="https://www.benzinga.com/news/24/10/41312383/trump-and-harris-neck-and-neck-in-final-stretch-of-presidential-race-but-heres-how-vice-president-ca">NBC News poll</a> showed Trump and Harris evenly matched with 48% support each, indicating a neck-and-neck race in the final stretch of the presidential election.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump Ahead Of Harris Shows Poll Among Early Voters In Key Battlegrounds: Ex-President's 'Swing State Strategy' Is Paying Off

The debate over the effects of different <a href="https://www.benzinga.com/markets/cannabis/22/11/29549541/the-strongest-magic-mushroom-species">psilocybin mushroom strains</a> has long divided growers and users. Psilocybe cubensis varieties like Golden Teacher, B+ and Z-strain are often believed to have distinct psychedelic effects, leading to endless online discussions and confusion for newcomers trying to choose the &#8220;best&#8221; strain. However, as Double Blind <a href="https://doubleblindmag.com/variances-in-magic-mushroom-strains/">reported</a>, recent <a href="https://f1000research.com/articles/10-961?trk=public_post_comment-text">research</a> suggests that these strains may be more alike than they are different.
For years, the phrase &#8220;a cube is a cube&#8221; has been used to downplay the idea that specific Psilocybe cubensis strains offer unique psychedelic experiences. This statement rejects the notion that one strain is inherently better for certain uses, like microdosing or intense trips, emphasizing that the differences are largely superficial.
<h3 class="wp-block-heading">The Science Behind Mushroom Strains</h3>
<a href="https://www.benzinga.com/topic/magic-mushrooms">Psilocybin mushrooms</a> belong to the genus Psilocybe, with Psilocybe cubensis being the most commonly cultivated species. Within this species, strains or varieties, such as B+, Golden Teacher, and others, have been differentiated by their appearance, ease of cultivation and purported effects. Yet, as Kevin McKernan et al. demonstrated in a genetic study of 81 strains, there is minimal difference between many strains, even when sold by various vendors. The lack of genetic consistency between strains across different suppliers highlights that most of these variations are not as distinct as once thought.
&#8220;Strains are often little more than marketing labels,&#8221; notes Ian Bollinger, a scientist known for his work with Oakland Hyphae&#8217;s Hyphae Cup, a potency-testing competition. According to Bollinger, &#8220;Potency has less to do with the strain itself and more to do with the supporting of the strain. The three major factors that go into a potent mushroom are how you cultivate it, its genetics, and, furthermore, how you treat it afterward.&#8221;
<h3 class="wp-block-heading">Cultivation Over Strain</h3>
The <a href="https://www.benzinga.com/money/how-to-grow-magic-mushrooms-at-home">cultivation process</a> plays a far greater role in determining the potency and quality of magic mushrooms than the specific strain being grown. In fact, even with genetically distinct strains like Penis Envy, known for its high psilocybin content, the difference in potency often comes down to how well the mushroom was grown, harvested and preserved. The data from the Hyphae Cup showed that, while Penis Envy is a common submission for potency testing, the results often overlap with those from other strains, further suggesting that cultivation techniques may overshadow any inherent genetic advantages.
Strains like Golden Teacher and B+ may have been originally named to denote specific traits, such as appearance or ease of growth, but over time, these traits become less reliable due to genetic drift and inconsistent spore-sharing practices. As Bollinger points out, only one of the key factors affecting potency is linked to genetics, making cultivation methods far more significant in determining the final product's effects.
<h3 class="wp-block-heading">The Future Of Mushroom Strains</h3>
A 2023 <a href="https://www.cell.com/current-biology/abstract/S0960-9822(23)01460-4">study</a> compared the genetic diversity of 86 cultivated strains and 38 wild strains from Australia, revealing that domesticated strains have far less genetic diversity. This raises questions about the impact of domestication on Psilocybe cubensis, as selective breeding may have reduced traits like contamination resistance, making modern cultivated strains weaker than their wild counterparts.
Looking forward, many experts suggest that instead of focusing on specific strains, growers and consumers should prioritize learning about optimal cultivation practices and experimenting with different species. Wild species like Psilocybe cyanescens, known for their higher potency and resilience to contamination, offer exciting possibilities for both growers and psychonauts.
Until there's more conclusive research on the differences between strains, experts advice for new growers is simple: pick a strain you like the sound of and focus on refining your cultivation technique. As Bollinger says, &#8220;The real magic is in how you grow and handle your mushrooms.&#8221;
Cover image made with AI

Cannabis

Psychedelics

Magic Mushroom Strains: Is There Really A Difference?

According to a recent report from <a href="https://www.benzinga.com/topic/beacon-securities-limited">Beacon Securities</a>, cannabis sales in Colorado and Connecticut are showing mixed results, reflecting both growth and challenges in the legal cannabis market.
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<h3 class="wp-block-heading">Colorado Sales Up 5% Quarter-To-Date</h3>
In Colorado, legal cannabis sales totaled $122 million in August, holding steady month-over-month but down 8% compared to $132 million in August 2023. However, on a quarter-to-date (QTD) basis, sales reached $245 million for July and August, up 5% from the $233 million recorded in April and May.
The Colorado Department of Revenue (CDOR) reported 673 adult-use dispensaries by the end of August, with an average revenue of $162,000 per dispensary, or approximately $1.9 million annually. This is a slight decline from $172,000 per dispensary in August 2023, but the year-over-year declines in revenue per dispensary have slowed, partially due to a 2% reduction in store count since January.
Notable companies with operations in Colorado include Schwazze (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SHWZ#OTC">SHWZ</a>) and The Cannabist Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBSTF#OTC">CBSTF</a>).
<h3 class="wp-block-heading">Connecticut Sales Flat Year-Over-Year</h3>
In Connecticut, legal cannabis sales reached $23.4 million in September, down 9% month-over-month but 7% lower than September 2023. Despite the monthly dip, quarterly sales totaled $74 million in Q3 2024, up 2% from Q2 2024.
With 51 dispensaries operating by the end of September, the average revenue per dispensary was $460,000 per month, down 14% from $535,000 in August. Companies with notable operations in Connecticut include Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), Trulieve Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), and Verano Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>).
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41284994/grown-rogue-secures-800k-vireo-forfeits-4-5m-warrants-in-cannabis-shakeup-whats-next-for-both"> Grown Rogue Secures $800K, Vireo Forfeits 4.5M Warrants In Cannabis Shakeup—What&#8217;s Next For Both?</a>

Market Summary

Retail Sales

THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

CBSTF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

SHWZ

TCNNF

VRNOF

Is Colorado's Cannabis Market Back On Track? A 5% Sales Boost Says Yes

Washington State University (WSU) researchers have received a $670,000 grant from the National Institutes of Health (NIH) to tackle cannabis misuse among young adults.
The project, led by Stacey Hust and Jessica Willoughby, will focus on educating college students in three states where cannabis is legal. The states are Washington, Illinois and New York, <a href="https://news.wsu.edu/news/2024/10/14/cannabis-intervention-project-receives-nih-backing/">reported</a> WSU Insider.
A particular focus of the study is <a href="https://www.benzinga.com/topic/cannabis-edibles">cannabis edibles</a>, which are increasingly popular but often misunderstood.
The three-year NIH-funded initiative aims to develop and test a technology-based intervention designed to educate young adults on the risks of cannabis. The focus is set on edibles. 
Edibles are a growing segment of the <a href="https://www.benzinga.com/topic/cannabis-markets">cannabis market</a>. Yet, many users are unaware of the delayed onset of effects and misunderstand portion sizes, which can lead to accidental overconsumption.
"Adolescents and young adults are not necessarily educated consumers when it comes to cannabis," said Hust. "Our research has shown that many do not understand the THC content in edibles or how to properly gauge serving sizes."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40799657/top-brands-in-2-2b-cannabis-edibles-market-include-wyld-incredibles-wana-and-kiva">Top Brands In $2.2B Cannabis Edibles Market Include Wyld, Incredibles, Wana And Kiva</a>
The intervention project includes a mixed-media video presentation. It will be hosted by a former cannabis marketer and is designed to correct these misconceptions by helping users assess cannabis products more effectively. 
The program emphasizes reading labels and understanding THC levels, using examples like <a href="https://www.benzinga.com/markets/cannabis/24/08/40346905/thc-infused-soda-maker-ramps-up-market-presence-with-debut-in-mi-boosts-ca-product-offering">cannabis-infused sodas</a>.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
Preliminary results have shown the intervention successfully increased cannabis knowledge and awareness of health risks. 
Now, with the <a href="https://www.benzinga.com/markets/cannabis/23/12/36048967/federal-agency-announces-new-cannabis-research-center-to-alleviate-study-barriers-regulatory-hur">NIH funding</a>, the WSU team will refine the program and test it on a larger scale, with plans to customize it for different states&#8217; regulations. 
Ultimately, the researchers hope to secure further funding for a national clinical trial to assess its long-term impact on cannabis use and misuse.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/08/40121015/first-ever-human-trial-finds-cbg-reduces-anxiety-and-boosts-memory">First-Ever Human Trial Finds CBG Reduces Anxiety And Boosts Memory</a></li>
</ul>
Cover: Photo by Kindelmedia via Pixels

Education

Curious About Cannabis Edibles? Fed Health Agency Funds Project To Study Use Among Young Adults

In a bid to control escalating gas prices, California Governor Gavin Newsom (D) has signed into law a bill that empowers his administration to regulate the state&#8217;s dwindling oil refineries. The move underscores California&#8217;s ongoing battle with affordability.
What Happened: Newsom approved the ABX 2 1 bill. The legislation mandates oil companies to prevent price surges due to maintenance issues and low supplies. The signing of the bill marks a decline in the political clout of Big Oil in California, a state actively transitioning from fossil fuels to renewable energy sources, <a href="https://www.politico.com/news/2024/10/14/gavin-newsom-law-gas-prices-00183615">reported</a> Politico.
&#8220;They have been raking in unprecedented profits because they can,&#8221; said Newsom, according to the report. The governor said that the proposal was not about politics, but took the opportunity to take a potshot at Republican Presidential candidate Donald Trump. He said the industry was raising gas prices to &#8220;scare voters&#8221; into backing the ex-president.
Western States Petroleum Association CEO Cathy Reheis-Boyd said about the move by California, &#8220;For those ready to stop playing politics, we welcome the opportunity to address the real issues driving fuel prices higher for Californians and their families.&#8221;
Western States Petroleum Association includes companies such as ExxonMobil, Marathon Petroleum, and HFSinclair. 
See Also: <a href="https://www.benzinga.com/news/24/10/41303300/mary-trump-because-donald-is-a-world-class-hypocrite-it-turns-out-his-interviews-have-been-edited?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump: &#8216;Because Donald Is A World-Class Hypocrite, It Turns Out His Interviews Have Been Edited&#8217;</a>
Set to come into effect in January, the law aims to curb price spikes that have seen the state&#8217;s average gas price exceed $6 per gallon in the past two years. It authorizes the California Energy Commission to require refiners to store more gas and share resupply plans with the state.
Why It Matters: The new law comes in the wake of rising concerns over gasoline prices in California. In September 2023, Tai Milder, the director of California&#8217;s Division of Petroleum Market Oversight, <a href="https://www.benzinga.com/government/23/09/34914870/california-faces-rising-gasoline-prices-division-of-petroleum-market-oversight-raises-concerns">expressed concerns</a> over some refineries&#8217; failure to maintain adequate gasoline levels or import enough fuel to compensate for production shortfalls.
Furthermore, the state has been taking legal action against major oil companies. Last year, California <a href="https://www.benzinga.com/markets/equities/23/09/34649658/california-sues-exxon-shell-and-bp-over-shameful-deception-sickens-you-to-your-core">initiated a lawsuit</a> against Exxon Mobil Corporation, Shell PLC, BP P.L.C., ConocoPhillips, Chevron Corporation, and the American Petroleum Institute. The state accused these companies of concealing the dangers of fossil fuels for decades, leading to significant climate change-related damages.
Image via Shutterstock
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

SHEL

Gavin Newsom Approves New Law to Tackle Gas Prices, Says Oil Industry Raising Prices To 'Scare Voters' Into Supporting Trump

In 2025, more than 30 million Americans can file their taxes for free through the IRS's Direct File program. This program was originally launched in 2024 as a pilot and is expanding to cover 24 states, more of which are expected to join in the future.&nbsp;
<a href="https://www.benzinga.com/personal-finance/24/07/39874181/irs-finalizes-10-year-rule-for-retirement-withdrawals-making-things-even-more-insanely-complicat">The IRS</a> aims to simplify tax filing with Direct File and says the program is easy, secure and cost-free for eligible taxpayers. Here&#8217;s what you need to know if you're wondering whether you're eligible and what income types qualify.&nbsp;
Don't Miss:
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<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
</ul>
<h2 class="wp-block-heading">Who Can Use Direct File?</h2>
Only those who have lived in the eligible 24 states for all of 2024 can use Direct File. Participating states include:&nbsp;
<ul>
<li>Alaska</li>
<li>Arizona</li>
<li>California</li>
<li>Connecticut</li>
<li>Florida</li>
<li>Idaho</li>
<li>Kansas</li>
<li>Maine</li>
<li>Maryland</li>
<li>Massachusetts</li>
<li>Nevada</li>
<li>New Hampshire</li>
<li>New Jersey</li>
<li>New Mexico</li>
<li>New York</li>
<li>North Carolina</li>
<li>Oregon</li>
<li>Pennsylvania</li>
<li>South Dakota</li>
<li>Tennessee</li>
<li>Texas</li>
<li>Washington state</li>
<li>Wisconsin</li>
<li>Wyoming</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
This program expansion was made possible by the <a href="https://www.benzinga.com/personal-finance/24/09/40696394/inflation-jobs-and-taxes-how-trump-and-harris-economic-policies-differ">Biden-Harris Administration's Inflation Reduction Act</a>, providing a significant boost for working-class and middle-income families. According to a news release from the U.S. Department of the Treasury, Americans spend an average of $270 and 13 hours filing taxes. The IRS aims to help individuals and families avoid these costs.&nbsp;
<h2 class="wp-block-heading">What Types of Income Are Eligible?</h2>
With the Direct File program expansions, there will be more eligibility for different types of income, credits and deductions in 2025. Here's a breakdown of the income categories that qualify for free filing through direct file:&nbsp;
<ul>
<li>W-2 Wage Income: This covers most employed workers.</li>
<li>Social Security Income: If you receive Social Security retirement benefits, you can file for free.</li>
<li>Unemployment Compensation: For those who received unemployment benefits in 2024, this income type is also eligible.</li>
<li>Interest Income: In 2025, the program expands to allow interest income above $1,500, making it easier for taxpayers with savings or investments to qualify.</li>
<li>Pension and Annuity Income: This includes non-IRA retirement income, a common source for retirees.</li>
</ul>
If your income comes from gig work, contract work (Form 1099-NEC), rental properties or self-employment, you'll need to explore other filing options, as Direct File does not yet support these.
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
<h2 class="wp-block-heading">Tax Credits and Deductions You Can Claim</h2>
In addition to filing for free, Direct File users can take advantage of various tax credits and deductions. For the 2025 season, the program supports the following credits:
<ul>
<li>Earned Income Tax Credit (EITC): A vital credit for <a href="https://www.benzinga.com/personal-finance/24/08/40586670/survey-finds-46-of-middle-class-workers-are-halting-or-cutting-their-retirement-contributions-du">low-to-moderate-income workers</a>.</li>
<li>Child Tax Credit: For those raising children under 17.</li>
<li>Credit for Elderly or Disabled: This credit can provide relief for qualifying seniors and individuals with disabilities.</li>
<li>Retirement Saver&#8217;s Credit: This credit is for those contributing to retirement savings plans such as 401(k)s or IRAs.</li>
</ul>
Additionally, taxpayers can claim the standard deduction and certain &#8220;above-the-line&#8221; deductions, including student loan interest and health savings account contributions. Direct File does not support itemized deductions, however.
See Also: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
<h2 class="wp-block-heading">Why You Should Check if You&#8217;re Eligible</h2>
For eligible taxpayers, Direct File offers a free and timesaving alternative. The program has no hidden fees, is available in Spanish and works seamlessly on smartphones, tablets and computers. For many, this could mean significant savings, both financially and in terms of time spent on tax preparation.
The expanded Direct File program may provide a practical alternative to traditional tax filing methods. As the 2025 tax season approaches, it&#8217;s worth checking if you can take advantage of this no-cost filing option, especially if your income falls into one of the supported categories. Stay informed about the latest developments and see if this streamlined process might work for you.
Read Next:
<ul>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>

Personal Finance

More Than 30 Million Americans Can File Taxes For Free In 2025 – Find Out If You're One Of Them And What Income Types Are Eligible

U.S. IPO Weekly Recap: Insurance And Healthcare Lead A 4 IPO Week

Shares of Ardent Health slipped in their trading debut on Thursday after the hospital operator reduced its initial public offering from its proposed size and priced below the marketed range.

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