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RLX Technology Inc is engaged in the manufacturing of e-vapor products for adult smokers. It has an integrated offline distribution and "Branded store plus" retail model tailored to China's e-vapor market.

RLX Technology Inc. American Depositary Shares, each representing the right to receive one (1) Class A ordinary share

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Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck production rate was reduced even before the EV giant halted manufacturing for a few days earlier this month, according to researcher Troy Teslike.
What Happened: Teslike estimates Tesla to have produced 30,582 Cybertrucks by the end of Q3 2024 and delivered 21,450, leaving 9,132 in inventory, according to vehicle registration data for sales and VIN data for production.
Assuming some of these unsold vehicles were used as showroom models, Tesla would have had an inventory of nearly 9,000 Cybertrucks going to Q4, Teslike said. However, in this quarter, the company seems to be faced with some demand challenges, he noted, citing the production pause for the vehicle earlier this month.
Early in December, it was reported that Tesla told its workers on the Cybertruck production line at Giga Texas that they need not report to work for three days from Dec. 3 to Dec. 5.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi everyone. Based on vehicle registration data for sales and VIN data for production, Tesla had produced 30,582 Cybertrucks by the end of Q3 2024 and delivered 21,450, leaving 9,132 in inventory. Some of these were likely used as showroom models, so I estimate around 9,067… <a href="https://t.co/YMqNBAEdji">pic.twitter.com/YMqNBAEdji</a>
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1867815687483277623?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
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However, according to Teslike, Cybertruck production was reduced even before the pause. The company stopped selling its more expensive Foundation series version of the Cybertruck in October and started selling regular variants <a href="https://www.benzinga.com/tech/24/12/42496103/teslas-model-s-model-x-and-cybertruck-now-have-the-same-starting-price-which-to-buy">priced about $20,000 lower</a>.
Furthermore, on days in November, Tesla&#8217;s website showed that buyers could place an order for the Cybertruck and take delivery on the same day in states including California, he noted.
Based on VIN data, Tesla also cut the Cybertruck production rate by over 55% on Nov. 10, he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi everyone. Cybertruck production was paused for a few days earlier this month, but that wasn&#39;t the only change. The production rate had already been reduced before the pause. Here's a timeline of key events: • 30 Sep: Tesla ends Q3 with 9,067 Cybertrucks in inventory, likely… <a href="https://t.co/eAGOzPEZJC">pic.twitter.com/eAGOzPEZJC</a>
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1868030757643677717?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
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Why It Matters:&nbsp;Tesla started delivering the Cybertruck to customers in the U.S. in November 2023. Months prior to starting deliveries, company CEO&nbsp;Elon Musk&nbsp;said that scaling production and not demand would be the biggest hurdle for Cybertruck given its strong order book. Musk then said that the company already has over a million pre-orders for the vehicle.
However, upon the start of deliveries, the vehicle was priced significantly higher than the estimated price provided at the time of the vehicle's unveiling in 2019, possibly deterring reservation holders from making the purchase.
According to data from automotive research company Kelley Blue Book,&nbsp;<a href="https://www.benzinga.com/news/24/10/41325252/tesla-cybertruck-leads-the-pack-as-most-popular-ev-truck-in-us-in-q3-outselling-rivals-from-ford-gm" target="_blank" rel="noreferrer noopener">Tesla sold 16,692 Cybertrucks</a>&nbsp;in the third quarter in the U.S., trumping EV trucks from rivals including the Ford F-150 Lightning and the Rivian R1T, to become the third-best-selling EV behind Model Y and Model 3.
However, the company had bigger ambitions for the Cybertruck with Musk previously saying that the company is aiming to make up to 250,000 Cybertrucks in 2025.
Cybertruck production achieved a positive gross margin for the <a href="https://www.benzinga.com/tech/24/11/41873767/cybertruck-likely-wont-be-profitable-in-q4-says-tesla-researcher">first time in the third quarter</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42481346/spacex-eyes-turning-its-starbase-site-into-a-city" target="_blank" rel="noreferrer noopener">Elon Musk's SpaceX Wants To Turn Its Starbase Site Into A City</a></li>
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Photo courtesy: Shutterstock

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Tech

TSLA

Tesla's Cybertruck Production Rate Was Reduced Even Before December's Pause, Says Researcher

Macro Economic Events

Econ #s

Economics

INDA

India Wholesale Price Index (WPI) Inflation (YoY) For November 1.89% Vs. 2.20% Est.; 2.36% Prior

Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology and other major diseases, and Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) today jointly announced a Distribution and Promotion Agreement in Mainland China regarding Lilly's non-covalent (reversible) Bruton's tyrosine kinase (BTK) inhibitor, Jaypirca&#xAE; (pirtobrutinib, 100 mg &amp; 50 mg tablets). The agreement highlights the following aspects:
<ul>
<li>Innovent will be responsible for the importation, marketing, distribution and promotion of Jaypirca&#xAE;;</li>
<li>Lilly will be responsible for the R&amp;D and post-market medical affairs of&nbsp;Jaypirca&#xAE;.</li>
</ul>

IVBIY

Reported Earlier, Innovent And Lilly Expand Global Oncology Partnership Through Jaypirca Commercialization Deal In China

The Company intends to use the net proceeds from the offering primarily for costs directly related to sales and marketing, for research and development, working capital and general corporate purposes, including personnel costs, capital expenditures and the costs of operating as a public company. The Company may also use a portion of the net proceeds to repay indebtedness outstanding.

RDZN

Reported Earlier, Roadzen Prices $2.5M Public Offering Of 2M Common Shares At $1.25/Share

Reported Earlier, Chinese Unemployment Rate For November Unchanged At 5.0%

Reported Earlier, China Industrial Production Year to Date (YTD) (YoY) For November 5.8% Vs. 5.8% Prior

Reported Earlier, China Industrial Production (YoY) For November 5.4% Vs. 5.4% Est.; 5.3% Prior

Reported Earlier, China Fixed Asset Investment (YoY) For November 3.3% Vs. 3.5% Est.; 3.4% Prior

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index Preliminary For December 51.4 Vs. 50.5 Prior

Instagram head Adam Mosseri raised concerns about the growing challenge of distinguishing between real and AI-generated images on social media platforms.
What Happened: In a series of posts on Threads on Sunday, Mosseri highlighted the need for social media platforms to provide more context to help users discern the authenticity of online content.
His warning comes amid increasing sophistication in AI technology, which is making it harder for users to identify real content.
In his posts, Mosseri stated that AI is &#8220;clearly producing&#8221; content that can easily be mistaken for reality. He urged users to consider the source of images and suggested that platforms should label AI-generated content as accurately as possible.
See Also: <a href="https://www.benzinga.com/24/12/42495758/elon-musk-finds-an-unlikely-ally-in-mark-zuckerbergs-meta-in-his-fight-against-sam-altmans-openai?itm_source=parsely-api">Elon Musk Finds An Unlikely Ally In Mark Zuckerberg&#8217;s Meta In His Fight Against Sam Altman&#8217;s OpenAI</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16000503/Screenshot-2024-12-16-at-10.34.57%E2%80%AFAM-1024x730.png" alt="" class="wp-image-693045" /><figcaption class="wp-element-caption">Source: Threads</figcaption></figure>
However, he acknowledged that some AI content might evade these labels. &#8220;My advice is to &#x2A;always&#x2A; consider who it is that is speaking.&#8221;
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16000534/Screenshot-2024-12-16-at-10.35.29%E2%80%AFAM-1024x527.png" alt="" class="wp-image-693046" /><figcaption class="wp-element-caption">Source: Threads</figcaption></figure>
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Why It Matters: Currently, Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) does not offer extensive context as described by Mosseri, though the <a href="https://www.benzinga.com/news/24/04/38120400/meta-expands-labels-for-ai-generated-content-to-include-photos-and-audio-across-facebook-instagram-a">company has hinted at significant changes</a> to its content policies.
Mosseri&#8217;s vision aligns with <a href="https://www.benzinga.com/news/24/05/39008030/elon-musks-x-wants-to-bring-community-notes-feature-to-newspapers-and-other-platforms-says-linda-yac">user-led moderation systems</a> like Community Notes on X, formerly Twitter, and custom moderation filters on platforms like YouTube or Bluesky.&nbsp;
The issue of AI-generated content is not new, but it is becoming more sophisticated and widespread. Previously, in Florida, an incident highlighted the potential for AI to be used in fraudulent activities, where a young investor was <a href="https://www.benzinga.com/markets/24/09/41051101/its-just-going-to-get-more-sophisticated-ai-fake-nearly-completes-fraudulent-land-deal">nearly deceived into purchasing</a> a non-existent property.
Moreover, a study by Google DeepMind revealed that <a href="https://www.benzinga.com/news/24/06/39471997/google-deepmind-study-reveals-that-deepfakes-of-politicians-and-celebrities-more-common-than-ai-assi">deepfakes of public figures</a> are more common than AI-assisted cyber attacks, indicating a significant misuse of AI technology.&nbsp;
In response to these challenges, Meta has previously taken some steps to combat AI-generated disinformation. Earlier in May this year, the company dismantled several <a href="https://www.benzinga.com/news/24/05/39077408/meta-cracks-down-on-ai-generated-fake-news-campaigns-from-four-countries-including-china-and-russia">fake news campaigns</a> originating from countries like China and Russia, which used AI to spread false information.
Check out more of Benzinga&#8217;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/24/12/42499106/microsofts-iphone-file-sharing-apples-watch-ultra-1-2-billion-lawsuit-and-more-this-week-in-appleverse?itm_source=parsely-api">Microsoft&#8217;s iPhone File Sharing, Apple&#8217;s Watch Ultra, $1.2 Billion Lawsuit And More: This Week In Appleverse</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

Instagram Head Wants X's Community Notes-Like Feature To Offer Context On What People Are Saying, Warns Against Generative AI Blurring Lines Between Reality And Fiction

Amazon Teamsters threatened Sunday to strike against Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), escalating tensions between workers and the e-commerce giant ahead of the <a href="https://www.benzinga.com/24/12/42323943/amazon-emerges-as-top-analyst-pick-after-impressive-us-e-commerce-cyber-week-sales-growth">crucial holiday shopping season</a>.
What Happened: &#8220;We are ready to strike to stop Amazon&#8217;s unfair labor practices,&#8221; the Amazon Teamsters posted on X. &#8220;Amazon is legally required to bargain a union contract that addresses our low pay and unsafe working conditions. We are going to hold this company accountable.&#8221;
The strike threat follows Thursday&#8217;s vote by workers at two New York City facilities—JFK8 and DBK4—to authorize strike action. The union set a Dec. 15 deadline for <a href="https://www.benzinga.com/news/legal/24/12/42490912/teamsters-authorize-strike-at-amazons-new-york-warehouses-get-ready-for-a-fight">Amazon to begin contract negotiations</a>.
&#8220;Amazon is pushing its workers closer to the picket line by failing to show them the respect they have earned,&#8221; said Teamsters General President Sean M. O&#8217;Brien.
Amazon spokesperson Eileen Hards disputed the union&#8217;s claims in an email to <a href="https://pro.benzinga.com/dashboard">Benzinga</a>, stating, "For more than a year now, the Teamsters have continued to intentionally mislead the public – claiming that they represent ‘thousands of Amazon employees and drivers'. They don't, and this is another attempt to push a false narrative.&#8221;
&#8220;The truth is that the Teamsters have actively threatened, intimidated, and attempted to coerce Amazon employees and third-party drivers to join them, which is illegal and is the subject of multiple pending unfair labor practice charges against the union.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are ready to strike to stop Amazon's unfair labor practices. Amazon is legally required to bargain a union contract that addresses our low pay and unsafe working conditions. We are going to hold this company accountable. Click the link to get started organizing your facility! <a href="https://t.co/rENubmm2Tm">pic.twitter.com/rENubmm2Tm</a>
&mdash; Amazon Teamsters (@amazonteamsters) <a href="https://twitter.com/amazonteamsters/status/1868464342947209335?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42500980/palantir-surges-over-3-in-overnight-trading-after-army-navy-game-spotlight-elon-musk-and-trumps-presence-and-nasdaq-100-inclusion">Palantir Surges Over 3% In Overnight Trading After Army-Navy Game Spotlight, Elon Musk And Trump&#8217;s Presence, And Nasdaq 100 Inclusion</a>
Why It Matters: The labor dispute comes during Amazon&#8217;s peak season, with the company reporting record Black Friday and Cyber Monday sales. JP Morgan analyst Doug Anmuth recently named <a href="https://www.benzinga.com/24/12/42323943/amazon-emerges-as-top-analyst-pick-after-impressive-us-e-commerce-cyber-week-sales-growth">Amazon his top retail pick</a>, citing the company&#8217;s dominant 45% share of U.S. e-commerce.
The facilities in question serve over 20 million residents in the New York metropolitan area. This year&#8217;s holiday shopping season is the shortest since 2019, with just 27 days between Thanksgiving and Christmas, adding pressure to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42101690/amazon-remains-best-idea-in-e-commerce-this-holiday-season-jpmorgan-analyst-says">Amazon&#8217;s delivery operations</a>.
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42500865/ark-invests-cathie-wood-predicts-rapid-robotaxi-market-shift-as-waymo-gains-on-lyft-in-san-francisco">Ark Invest&#8217;s Cathie Wood Predicts Rapid Robotaxi Market Shift As Waymo Gains On Lyft In San Francisco</a></li>
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Markets

AMZN

Amazon Teamsters Threaten Strike Ahead Of Crucial Holiday Season: 'We Are Going To Hold This Company Accountable'

Renowned Wall Street investor and economist Dennis Gartman downplayed Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) record-breaking run on Friday, instead preferring gold due to its long history as a store of value.
What happened: During an interview with Bloomberg, Gartman said he was surprised by the leading cryptocurrency's climb above $100,000.
&#8220;It reminds me too much of the tulip bulb craze of 16th-century Holland and the high-tech craze of the late 1990s and early 20th century," the Chairman of the Akron University Investment Committee stated.
"I will leave it to others to buy; I will avoid it."
Gartman also dismissed Bitcoin's narrative of &#8220;digital gold," arguing that gold has been around for centuries.&nbsp;
"It [Bitcoin] has months of being valued at some price. Gold has centuries of being valued as an asset. I will take the centuries bet over the monthly bet almost anytime," Gartman said.
Despite the pessimism, the veteran investor said he won't sell Bitcoin short. "I will leave it to people wiser or more dreadworthy than I am."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42500002/massive-crypto-exchange-witnesses-unusual-100-million-bitcoin-activity">Massive Crypto Exchange Witnesses Unusual $100 Million Bitcoin Activity</a>
Why It Matters: Bitcoin is in the middle of a bull run, having <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42500721/bitcoin-breaks-106k-ethereum-dogecoin-rally-ahead-of-key-fed-meet-but-top-analyst-triggers-anxiety-with-this-observation">recently topped $106,000 for the first time</a>. 
The world's largest digital asset by market capitalization has gained over 70% since Donald Trump emerged victorious in the November elections as investors count on <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">pro-cryptocurrency measures during his presidency</a>.
Bitcoin has surged 150% year-to-date, dwarfing returns from other asset classes, including gold. While the yellow metal also hit its all-time high in 2024, it has secured year-to-date gains of just about 29%.
Gartman's positioning is similar to another well-known Bitcoin critic Peter Schiff, who routinely <a href="https://www.benzinga.com/markets/commodities/24/11/41896213/economist-peter-schiff-sees-a-silver-lining-as-gold-plummets-while-investors-rush-to-snap-up-bitcoin-gains-typicallysilver-would-be-down-twice-as-much">discounts BTC&#8217;s performance</a>, promoting gold as a better investment option.
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Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $104,373.32, up 2.77% 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>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">EXCLUSIVE: Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a></li>
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Photo courtesy: Shutterstock

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

Cryptocurrency

$BTC

Wall Street Veteran Dennis Gartman Chooses Gold Over Bitcoin Despite BTC's Record-Breaking Bull Run: 'I Prefer Centuries Bet Over Monthly Bet'

Marc Andreessen has lauded OpenAI&#8217;s Sora <a href="https://www.benzinga.com/24/12/42398825/sam-altman-calls-openais-new-video-generator-so-compelling">video model</a>, suggesting it may have resolved a significant challenge in robotics.
What Happened: In a conversation with Chris Williamson posted on YouTube on Sunday, Andreessen, co-founder of Andreessen Horowitz, elaborated on Sora&#8217;s technology.
He said that the model&#8217;s capability to generate video from <a href="https://www.benzinga.com/startups/24/12/42500663/rip-hollywood-joe-rogan-shares-openais-sora-video-asking-the-question-on-everyones-mind-is-a-trillion-dollar-industry-at-risk">text prompts and create realistic video</a> representations that pass the &#8220;sniff test&#8221; of human perception is &#8220;very magical.&#8221;
The Sora model is trained on extensive video data, yet it goes beyond simple 2D video generation, he stated, adding that it accurately simulates 3D reality, including lighting, reflections, and translucency, which are crucial for realistic video rendering.
See Also: <a href="https://www.benzinga.com/24/12/42495758/elon-musk-finds-an-unlikely-ally-in-mark-zuckerbergs-meta-in-his-fight-against-sam-altmans-openai?itm_source=parsely-api">Elon Musk Finds An Unlikely Ally In Mark Zuckerberg&#8217;s Meta In His Fight Against Sam Altman&#8217;s OpenAI</a>
Andreessen believes this advancement in video modeling could solve the fundamental challenge of robotics: enabling robots to navigate the real world safely and effectively.
He stated that a comprehensive understanding of 3D physical reality, or a &#8220;world model,&#8221; is essential for robots to interact with their environment without errors.
"It [Sora model] actually understands 3D physical reality. The implication of that is that we may have basically just solved the fundamental challenge of robotics. The fundamental challenge of robotics is how do you get a physical robot to navigate the real world without screwing everything up," he stated.
"Up until now building a world model like that has been difficult or impossible and it now appears that that&#8217;s actually starting to work," Andreessen concluded.
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.
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Why It Matters: While Andreessen may have praised OpenAI's video model, he has long been at odds with the way the ChatGPT-parent operates.
Earlier this year, he was involved in <a href="https://www.benzinga.com/news/24/03/37448936/would-you-open-source-the-manhattan-project-vinod-khosla-and-marc-andreessen-clash-over-musks-openai">a public debate with OpenAI investor</a> Vinod Khosla over the security of open-source software, particularly in the context of Elon Musk&#8217;s lawsuit against OpenAI. Andreessen argued that open-source software is secure due to its transparency.
In September, Andreessen Horowitz <a href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">invested $1 billion</a> in Safe Superintelligence (SSI), an AI startup co-founded by Ilya Sutskever. Sutskever, who also co-founded OpenAI, <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">left ChatGPT-maker earlier</a> this year.&nbsp;
Last month, Andreessen also commented on the <a href="https://www.benzinga.com/tech/24/11/41932289/ai-capabilities-plateauing-say-andreessen-horowitz-founders-echoing-concerns-of-openai-co-founder-ilya-sutskever">plateauing of AI capabilities</a> during a podcast discussion, underscoring the importance of breakthroughs like Sora in pushing the boundaries of what AI can achieve.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia

Marc Andreessen Praises OpenAI's Sora Video Model: 'We May Have Basically Just Solved The Fundamental Challenge Of Robotics'

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) shares jumped more than 3% in overnight trading on Robinhood following the company&#8217;s high-profile presence at the Army-Navy football game, where its executives were spotted alongside key political figures.
What Happened: The data analytics company&#8217;s stock, which closed at $76.07 on Friday after gaining 3.92% in regular trading, continued its upward momentum as images of an advertisement circulated on social media showing Palantir executives, including Chief Technology Officer Shyam Sankar and co-founder Joe Lonsdale, at the prestigious military matchup.
<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">Joe Lonsdale (CoFounder) &amp; Shyam Sankar (CTO) of Palantir at the Army Navy Game! <a href="https://t.co/NJqgzJgpW6">pic.twitter.com/NJqgzJgpW6</a>
&mdash; amit (@amitisinvesting) <a href="https://twitter.com/amitisinvesting/status/1867942733299720692?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The event gained additional attention when Tesla Inc. CEO Elon Musk responded with an American flag emoji to a social media post showing President-elect Donald Trump and other officials at the game, where Palantir&#8217;s logo was prominently displayed.
<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">Iconic &#x1f525; <a href="https://t.co/AhnMftg7Jw">pic.twitter.com/AhnMftg7Jw</a>
&mdash; Autism Capital &#x1f9e9; (@AutismCapital) <a href="https://twitter.com/AutismCapital/status/1868062856375312689?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
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<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">&#x1f1fa;&#x1f1f8;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1868097801965715862?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This latest surge follows a string of positive developments for Palantir, <a href="https://www.benzinga.com/24/12/42495649/microstrategy-palantir-axon-added-to-nasdaq-100-super-micro-computer-moderna-illumina-exit-the-index">including its recent addition to the Nasdaq 100 index</a>, effective Dec. 23, and expansion of government contracts.
The company&#8217;s market value has now surpassed traditional defense contractor Lockheed Martin Corp., <a href="https://www.benzinga.com/markets/equities/24/11/41891026/palantir-overtakes-lockheed-martin-in-market-cap-how-does-the-messi-of-ai-stack-up-against-the-traditional-defense-player">reaching $173 billion</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42500865/ark-invests-cathie-wood-predicts-rapid-robotaxi-market-shift-as-waymo-gains-on-lyft-in-san-francisco">Ark Invest&#8217;s Cathie Wood Predicts Rapid Robotaxi Market Shift As Waymo Gains On Lyft In San Francisco</a>
Why It Matters: Wedbush Securities Managing Director Dan Ives has labeled Palantir the &#8220;Messi of AI,&#8221; predicting 2025 will be a breakout year for the <a href="https://www.benzinga.com/24/12/42453057/palantir-positioned-to-become-the-next-oracle-in-2025-says-dan-ives-messi-of-ai-set-for-breakout-year">company&#8217;s artificial intelligence platform</a>.
The company <a href="https://www.benzinga.com/news/legal/24/12/42292744/whats-going-on-with-palantir-technologies-stock-today-9">recently secured a $36.8 million expanded contract</a> with U.S. Special Operations Command and achieved FedRAMP High Authorization for its Federal Cloud Service.
Adding to the momentum, reports indicate Sankar is being <a href="https://www.benzinga.com/news/global/24/12/42331892/trump-eyes-shyam-sankar-for-pentagon-role-while-palantir-gains-from-border-crisis-contracts-analyst-says-this-is-a-win-for-the-stock">considered for a top Pentagon research</a> and engineering position in the incoming administration. This development comes as Palantir continues to strengthen its government partnerships, including significant contracts with Immigration and Customs Enforcement.
The company&#8217;s CEO Alex Karp has maintained a firm stance on government collaboration, stating in company filings, &#8220;We stand by [government clients] when it is convenient, and when it is not.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/12/42500701/trumps-security-adviser-pick-warns-of-gaps-in-our-agencies-amid-growing-drone-sightings-across-us-calls-for-expanding-israels-iron-dome-for-defense">Trump&#8217;s Security Adviser Pick Warns Of &#8216;Gaps In Our Agencies&#8217; Amid Growing Drone Sightings Across US, Calls For Expanding Israel&#8217;s Iron Dome For Defense</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PLTR

Palantir Surges Over 3% In Overnight Trading After Army-Navy Game Spotlight, Elon Musk And Trump's Presence, And Nasdaq 100 Inclusion

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly planning to launch foldable iPhones and ultralight devices by 2026.
What Happened: Apple is reportedly working on a <a href="https://www.benzinga.com/news/24/05/38900479/apple-plans-for-thinner-more-expensive-iphone-17-in-2025">thinner iPhone model</a>, expected to be more affordable than the Pro versions.
This device will feature a simplified camera system to cut costs, <a href="https://www.wsj.com/tech/apple-thin-iphone-foldable-computer-plans-dbb4286c?mod=mhp">reported</a> The Wall Street Journal on Sunday, citing people familiar with the matter.
The tech giant is also developing two foldable devices: a larger one that unfolds to a 19-inch screen, and a smaller foldable iPhone, the sources noted.
Challenges in hinge and display cover technology have delayed these foldable designs, but Apple is pushing for a 2026 release.
See Also: <a href="https://www.benzinga.com/24/12/42495758/elon-musk-finds-an-unlikely-ally-in-mark-zuckerbergs-meta-in-his-fight-against-sam-altmans-openai?itm_source=parsely-api">Elon Musk Finds An Unlikely Ally In Mark Zuckerberg&#8217;s Meta In His Fight Against Sam Altman&#8217;s OpenAI</a>
While Apple initially planned to launch the larger foldable device first to assess market reception, it now seems that the foldable iPhone will likely debut earlier.
Executives are targeting a 2026 release for the foldable iPhone, though an additional year may be required to resolve ongoing technical issues, the report noted, citing sources.
Meanwhile, the ultrathin iPhone is expected to cater to consumers who prioritize a sleek design over some of the advanced features found in the Pro models.
Analyst Jeff Pu from Haitong International Securities noted that current foldable phones do not meet Apple&#8217;s standards for thinness, lightness, and energy efficiency.
Apple did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.&nbsp;
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: This move aims to boost consumer interest amid stagnant smartphone sales. Apple&#8217;s iPhone business, which contributes significantly to its revenue, has seen minimal growth. The company is seeking new ways to accelerate growth.
Earlier in August, it was reported that Apple is working on a thinner version of the iPhone 17, dubbed the &#8220;Air,&#8221; which could potentially <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40332493/apples-thinner-iphone-17-air-with-sleeker-design-could-be-a-game-changer-says-promi">reignite consumer interest</a> in its flagship product. The device could be a significant redesign akin to the iPhone X.
Apple&#8217;s smartphone sales saw a <a href="https://www.benzinga.com/news/24/10/41551122/apples-q3-smartphone-sales-slip-despite-strong-iphone-16-demand-market-share-dropped-slightly">slight 0.3% decline year-over-year</a> in the third quarter, yet demand for the iPhone 16 series remained steady compared to previous models, according to an IDC report. This performance enabled Apple to regain the second spot in China's smartphone market, securing a 15.6% share.&nbsp;
In October, Apple reported fiscal <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a> of $94.9 billion, surpassing analyst projections of $94.56 billion. iPhone sales contributed $46.22 billion, up from $43.8 billion in the same period last year.
On Sunday, Mark Gurman in his latest installment of the weekly "Power On" newsletter reported that Apple is exploring the <a href="https://www.benzinga.com/tech/24/12/42500167/could-apple-set-revolutionize-tablet-market-with-18-8-inch-foldable-ipad">tablet market with a potential</a> 18.8-inch foldable iPad by 2028.
This device is expected to offer a seamless experience, similar to using two iPad Pros side-by-side, and may incorporate features from both Macs and iPads.
Price Action: Apple&#8217;s stock edged up 0.069% on Friday, finishing the day at $248.13. Year-to-date, the company&#8217;s shares have increased by 33.66%.
The latest price targets from Morgan Stanley, Needham, and Wedbush suggest an average target of $277.67, indicating a potential upside of 11.96%, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/AAPL/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/15213632/Screenshot-2024-12-16-at-8.06.27%E2%80%AFAM-1024x378.png" alt="" class="wp-image-692949" /></a></figure>
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42479401/nancy-pelosis-stock-pick-broadcom-shoots-15-in-friday-pre-market-as-broadcom-ceo-sees-opportunity-over-the-next-3-years-in-ai?itm_source=parsely-api">Nancy Pelosi&#8217;s Stock Pick Broadcom Shoots 15% In Friday Pre Market As Broadcom CEO Sees &#8216;Opportunity Over The Next 3 Years In AI&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

Media

AAPL

Apple Eyes 2026 To Launch Foldable iPhones And Ultralight Devices As It Looks To Revitalize Sales Momentum: Report

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, continued to add momentum to the coins it was purchasing.
What happened: ONDO, a tokenization-themed cryptocurrency, zoomed over 11% to record-breaking highs, becoming the fourth-biggest market gainer over the last 24 hours.
The coin's trading volume surged over 73% to $483 million, suggesting significant buying pressure.
ONDO serves as the governance token of Ondo Finance, a decentralized finance platform built atop Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) that tokenizes real-world assets.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:00 p.m. EDT)</td>
</tr>
<tr>
<td>Ondo (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ONDO</a>)</td>
<td>+11.81%</td>
<td>$2.08</td>
</tr>
<tr>
<td>Ethena (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>)</td>
<td>+8.25%</td>
<td>$1.28</td>
</tr>
</tbody>
</table>
</figure>
Another Ethereum-based coin, ENA, lifted to an eight-month high following an 8% increase in the last 24 hours.&nbsp;
ENA is the native token of Ethena, a protocol that offers a so-called synthetic dollar for DeFi uses.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42500002/massive-crypto-exchange-witnesses-unusual-100-million-bitcoin-activity">Massive Crypto Exchange Witnesses Unusual $100 Million Bitcoin Activity</a>
The upsurge was powered by significant purchases by World Liberty Financial. The DeFi project spent $250,000 to buy 134,216 ONDO tokens on Sunday, on-chain data showed.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) just spent 250K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 134,216 <a href="https://twitter.com/search?q=%24ONDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ONDO</a> an hour ago! Overall, since November 30, this fund has spent $44.75M to buy 6 crypto assets: • 8,105 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (cost: $30M, avg buy price: $3,701), now +$2.12M • 102.9… <a href="https://t.co/KBaKgqvvq1">https://t.co/KBaKgqvvq1</a> <a href="https://t.co/ez4dNwmATA">pic.twitter.com/ez4dNwmATA</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868450217491935553?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
A day earlier, the fund acquired over $500,000 of ENA at an average buying price of $0.981.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) is buying <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a>! 3 hours ago, this fund spent 500,013 <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy the first 509,955 <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a> at an average price of $0.981. Overall, since November 31, World Liberty Financial has spent $44.41M to buy 5 crypto assets,… <a href="https://t.co/2jSNS2Oc00">pic.twitter.com/2jSNS2Oc00</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1868073696663122207?ref_src=twsrc%5Etfw">December 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Since the beginning of December, the project has i<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42452819/trump-backed-world-liberty-financial-bags-10m-in-ethereum-whats-going-on">nvested more than $44 million</a> to bag cryptocurrencies like Ether, Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>), and Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) along with ONDO and ENA.
World Liberty Financial is being <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">promoted as a decentralized money market </a>that will allow users to borrow, lend, and earn interest on cryptocurrencies.
Trump and his family have aggressively promoted the project, and a firm associated with the President-elect, DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenue</a>.
Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">positioned himself as the &#8220;Crypto President&#8221;</a> through several bold commitments, and his involvement with any coin, no matter how minor, significantly piques the market&#8217;s interest.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a></li>
</ul>
Photo courtesy: Wikimedia

Movers

Trading Ideas

$AAVE

$ENA

$ETH

$LINK

$ONDO

Trump-Backed World Liberty Financial's Purchases Trigger Strong Rally In These DeFi Tokens

Cathie Wood, CEO of ARK Invest, suggests Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) entry into the robotaxi market could trigger a swift transformation of the ride-hailing industry, pointing to 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-backed Waymo&#8216;s recent <a href="https://www.benzinga.com/markets/equities/24/12/42347027/waymo-announces-expansion-to-miami-how-soon-will-self-driving-cars-hit-the-magic-city">success in San Francisco as evidence</a>.
What Happened: Wood&#8217;s comments on X, formerly Twitter, came after data shared by Alex Immerman, Partner at Andreessen Horowitz showed Waymo had matched Lyft Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) market share in San Francisco, reaching 22% of rides within its operating boundary. Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) leads with 55% of the market.
&#8220;When Tesla&#8217;s solution enters the market next year, the transition is likely to shift from &#8216;slowly, slowly&#8217; to &#8216;all at once,'&#8221; Wood wrote on Sunday.
ARK Investment Management projects Tesla&#8217;s driverless ride-hailing service could <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41593922/cathie-woods-ark-invest-sees-tesla-unlocking-11-trillion-revenue-potential-with-rob">unlock $11 trillion in revenue potential</a>. The firm estimates Tesla&#8217;s robotaxi rides could cost consumers $0.25 per mile, significantly below current ride-hail costs of about $2 per mile.
<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">With a tiny fraction of cars compared to Uber and Lyft, Waymo is beginning to disrupt the raid-hail market in San Francisco. When $TSLA's solution enters the market next year, the transition is likely to shift from "slowly, slowly" to "all at once". Can't wait! <a href="https://t.co/IkZ3mdohyl">https://t.co/IkZ3mdohyl</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1868104910975410283?ref_src=twsrc%5Etfw">December 15, 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/trading-ideas/movers/24/12/42500721/bitcoin-breaks-106k-ethereum-dogecoin-rally-ahead-of-key-fed-meet-but-top-analyst-triggers-anxiety-with-this-observation">Bitcoin Breaks $106K, Ethereum, Dogecoin Rally Ahead Of Key Fed Meet But Top Analyst Triggers Anxiety With This Observation</a>
Why It Matters: Tesla CEO Elon Musk announced plans to launch ride-hailing services in Texas and California next year, pending regulatory approval. While initial operations may require human <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41593922/cathie-woods-ark-invest-sees-tesla-unlocking-11-trillion-revenue-potential-with-rob">drivers in some states</a>, Musk expects to operate driverless paid rides in 2025.
The company recently unveiled its purpose-built robotaxi, the Cybercab, scheduled for production before 2027. Until then, Tesla plans to use its Model 3 and Model Y vehicles for the ride-hailing fleet.
However, some analysts remain cautious. Gary Black, managing partner at The Future Fund LLC, excludes robotaxi revenue from his Tesla valuations until competitive dynamics become clearer. 
Black expects multiple automakers to receive approval for unsupervised autonomy simultaneously, suggesting market dynamics will be demand-driven <a href="https://www.benzinga.com/markets/equities/24/10/41420662/gary-black-explains-why-he-doesnt-factor-in-robotaxi-or-optimus-to-tesla-valuation-investors-may">rather than supply-controlled</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/12/42496864/exclusive-eric-trump-calls-elon-musk-albert-einstein-of-our-time-says-tesla-ceo-will-help-build-a-stronger-america">EXCLUSIVE: Eric Trump Calls Elon Musk &#8216;Albert Einstein Of Our Time,&#8217; Says Tesla CEO Will Help Build &#8216;A Stronger America&#8217;</a></li>
</ul>
Photo courtesy of Tesla.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

LYFT

UBER

Ark Invest's Cathie Wood Predicts Rapid Robotaxi Market Shift As Waymo Gains On Lyft In San Francisco

Leading cryptocurrencies surged Sunday evening as investors raised risk appetites on strong expectations of another interest rate cut.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+5.04%</td>
<td>$106,370.44</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>+3.51%</td>
<td>$3,992.72</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>+2.21%</td>
<td>$0.4033</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin tapped a new all-time high of $106,000, having earlier broken through the $102,000 resistance
Following in its footsteps, Ethereum rose above $4,000 before pulling back slightly.
Total cryptocurrency liquidations topped $309 million over the last 24 hours, out of which $204 million belonged to leveraged shorts.
The market started to get overleveraged, and any dip below $100,000 would liquidate over $1 billion in long positions.
Bitcoin's Open Interest soared by 7.48% in the last 24 hours. A rise in OI, coinciding with a price rally, indicated an influx of fresh money into the derivatives market.
Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear &amp; Greed Index,
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Fantom (FTM)</td>
<td>+20.94%</td>
<td>$1.47</td>
</tr>
<tr>
<td>Stacks (ETX)</td>
<td>+17.47%</td>
<td>$2.59</td>
</tr>
<tr>
<td>Ondo (ONDO)</td>
<td>+16.05%</td>
<td>$2.14</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.74 trillion, following an increase of 1.92% over the last 24 hours.
Stock futures traded near flatline Sunday evening. The Dow Jones Industrial Average Futures rose 46 points, or 0.10%, as of 8:40 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 rose 0.07%, while Nasdaq 100 Futures added only 0.04%.
This week, investors will focus on the year's last Federal Open Market Committee meeting, during which the central bank officials will decide on the benchmark interest rates.
Participants have priced in a 93.7% chance of a 0.25% cut to a 4.25%-4.50% range, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">as per</a> the CME Fedwatch tool.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Amid Bitcoin's strong rally, influential cryptocurrency analyst Ali Martinez sparked concerns about a potential market top.
"Long-term Bitcoin holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg-up," Martinez said, drawing parallels with ongoing patterns.
"Could we be on the verge of a similar pattern? Is this the start of a market top?"
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg up. Could we be on the verge of a similar pattern? Is this the start of a market top? <a href="https://t.co/3L0cFoNebs">pic.twitter.com/3L0cFoNebs</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1868455501140521439?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed market observer, Michaël van de Poppe, predicted the "next wave" for altcoins.
"Yes, it&#8217;s time for a new move and, as the markets tend to move like this, but this move is going to be significantly bigger than the previous one," the analyst remarked.
<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 <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> markets are ready for their next wave. Yes, it&#39;s time for a new move and, as the markets tend to move like this, but this move is going to be significantly bigger than the previous one. Here&#39;s an ideal recipe on how to handle those moves, maximizing returns. The… <a href="https://t.co/bjhuhdJ5Kz">pic.twitter.com/bjhuhdJ5Kz</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1868360673098625106?ref_src=twsrc%5Etfw">December 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In the last 24 hours, Bitcoin dominance dropped by 4% to 55.9%, while the market share of altcoins rose 3.48% to 31.2%.
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42470335/if-you-invested-1000-in-xrp-token-when-ashton-kutcher-surprised-ellen-degeneres-with-4m-charity-donation-heres-how-much-youd-have-today">If You Invested $1,000 In XRP Token When Ashton Kutcher Surprised Ellen DeGeneres With $4 Million Charity Donation, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Photo courtesy: Shutterstock

$DOGE

Bitcoin Breaks $106K, Ethereum, Dogecoin Rally Ahead Of Key Fed Meet But Top Analyst Triggers Anxiety With This Observation

Growing concerns over mysterious drone sightings across multiple U.S. states have highlighted <a href="https://www.benzinga.com/news/24/10/41652195/us-drone-maker-slams-china-sanctions-calls-it-an-attempt-to-eliminate-the-leading-american-drone-com">significant gaps in national airspace security</a>, according to Mike Waltz, President-elect Donald Trump&#8216;s national security adviser pick.
What Happened: Speaking on CBS News&#8217; Face the Nation <a href="https://www.youtube.com/watch?v=vNedr8xrYEo">on</a> Sunday, Waltz emphasized the need to address &#8220;gaps in our agencies&#8221; and &#8220;gaps in our authorities between the Department of Homeland Security, local law enforcement, the Defense Department.&#8221; He advocated for expanding Israel&#8217;s Iron Dome concept to include <a href="https://www.benzinga.com/general/market-summary/24/10/41145100/opportunity-in-missile-defense-stocks-once-in-a-century-buying-stampede-in-hong-kong">drone defense capabilities</a>.
The drone sightings, which began in New Jersey in mid-November and have spread to Maryland and Massachusetts, have drawn conflicting responses from officials. Rep. Jeff Van Drew (R-N.J.) suggested possible <a href="https://www.benzinga.com/24/12/42476184/jeff-van-drew-calls-out-pentagon-for-hiding-information-about-mysterious-new-jersey-drones-national-security-crisis-we-cannot-ignore">connections to Iranian operations</a>, claims the Pentagon explicitly denied through spokesperson Sabrina Singh.
See Also: <a href="https://www.benzinga.com/news/24/12/42496864/exclusive-eric-trump-calls-elon-musk-albert-einstein-of-our-time-says-tesla-ceo-will-help-build-a-stronger-america">EXCLUSIVE: Eric Trump Calls Elon Musk &#8216;Albert Einstein Of Our Time,&#8217; Says Tesla CEO Will Help Build &#8216;A Stronger America&#8217;</a>
Why It Matters: Homeland Security Secretary Alejandro Mayorkas defended the administration&#8217;s response in an ABC News <a href="https://abcnews.go.com/ThisWeek/video/foreign-involvement-alejandro-mayorkas-drone-sightings-116805504">interview</a>, stating that personnel and technology have been deployed while finding no evidence of foreign involvement or security threats.
The drone sightings, reportedly up to six feet in diameter and undetectable by radio frequency monitoring, mirror similar incidents over U.S. military installations in Virginia and the United Kingdom, <a href="https://www.benzinga.com/24/12/42476184/jeff-van-drew-calls-out-pentagon-for-hiding-information-about-mysterious-new-jersey-drones-national-security-crisis-we-cannot-ignore">intensifying national security concerns</a>.
The controversy emerges as the incoming Trump administration signals a shift in military aviation strategy. Elon Musk, Trump&#8217;s pick to co-lead the Department of Government Efficiency.
Recently, Musk criticized Lockheed Martin Corp.&#8216;s F-35 program, advocating for <a href="https://www.benzinga.com/news/24/11/42157649/trumps-doge-co-lead-elon-musk-slams-lockheed-martins-f-35-fighter-jets-advocates-drone-warfare-as-pentagon-defends-1-8-trillion-program">drone warfare over manned aircraft</a>. The F-35 program, estimated at $1.8 trillion, represents the Defense Department&#8217;s most expensive initiative to date.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/media/24/12/42499012/trumps-moves-stir-markets-dollar-tree-larry-summers-and-more-this-week-in-economics">Trump&#8217;s Moves Stir Markets: Dollar Tree, Larry Summers, And More: This Week In Economics</a></li>
</ul>
Photo by Karl Greif for Unsplash
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Trump's Security Adviser Pick Warns Of 'Gaps In Our Agencies' Amid Growing Drone Sightings Across US, Calls For Expanding Israel's Iron Dome For Defense

&#8216;RIP Hollywood?&#8217;—Joe Rogan Shares OpenAI&#8217;s Sora Video, Saying Out Loud What Everybody Is Thinking—Is A Trillion Dollar Industry In Jeopardy?
Joe Rogan's Instagram story recently caught attention when he shared a video created with OpenAI's AI video generator, Sora. Many fans were stunned by the video, which included everything from monkeys to the fabled Kraken and provoked a heated discussion. Rogan's story, which included the text "RIP Hollywood?" <a href="https://www.instagram.com/reel/DDXiz-Csxdw/?utm_source=ig_embed&amp;ig_rid=204f4211-4274-447d-ae48-6ffdd6082d41">shared</a> by the user Evolving.ai wasn't just clickbait – it's a question that's rapidly gaining relevance as AI tools like Sora push the boundaries of video production.
<a href="https://www.threads.net/@evolving.ai/post/DDXlyU0zh6i">https://www.threads.net/@evolving.ai/post/DDXlyU0zh6i</a>
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<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
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<h2 class="wp-block-heading">A Game-Changer for Video Creation</h2>
<a href="https://www.benzinga.com/24/12/42398825/sam-altman-calls-openais-new-video-generator-so-compelling">OpenAI officially launched Sora</a> as part of its "12 Days of OpenAI" event, offering the tool to ChatGPT Plus and Pro subscribers. Billed as &#8220;GPT-1 for video,&#8221; Sora allows users to create and modify videos using simple text prompts. Users can create clips up to 20 seconds long and even complete missing frames in videos that already exist. This sounds like a dream come true for creators, allowing for far faster prototyping and content creation with much fewer resources.
Sam Altman, CEO of OpenAI, said, "This is early … but I already think the feed is so compelling. Excited to see what you make."
<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">we are launching sora today, and we made a new product to go with it. if you have an openai plus or pro account, you can generate videos. anyone can view them. it will take some time to roll out, but by the end of the day it should be available at <a href="https://t.co/VZBcJFqChS">https://t.co/VZBcJFqChS</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1866187525821538436?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
While Hollywood insiders are watching nervously, Sora has already shown its potential to democratize content creation for smaller studios and independent creators. <a href="https://www.benzinga.com/news/24/06/39496418/could-openais-sora-be-a-boon-for-small-studios-and-indie-content-creators-new-toys-r-us-origin-story">Toys "R" Us used Sora</a> to produce a brand film showcased at the Cannes Lions Festival, with the AI handling about 85% of the production. Creative agency Native Foreign applied some finishing touches, but the project's speed and cost-effectiveness highlight Sora's appeal.
For indie creators, tools like Sora could be the key to competing in an industry historically dominated by big-budget studios. However, this shift comes with risks – notably, the potential obsolescence of traditional video production jobs.
<h2 class="wp-block-heading">Controversy and Criticism</h2>
Sora hasn't been free of controversy. In November, <a href="https://www.benzinga.com/24/11/42206104/openais-sora-video-model-leak-exposes-deep-rift-with-artists-unpaid-rd-pr-puppets-and-content-approval-fury-what-you-need-to-know">beta testers leaked an early version</a> of the tool, accusing OpenAI of exploiting artists for "unpaid R&amp;D." The leaked model fueled debates about how AI tools are trained and whether they rely on publicly available content without proper attribution or compensation.
Trending: If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?
Additionally, some industry observers, like YouTuber Marques Brownlee, have <a href="https://www.youtube.com/watch?v=OY2x0TyKzIQ">pointed out</a> limitations in Sora's ability to replicate real-world physics or create complex scenes. Despite these shortcomings, Brownlee acknowledged the tool's immense potential, calling it "horrifying and inspiring."
<h2 class="wp-block-heading">A Trillion-Dollar Industry on the Brink?</h2>
The media and entertainment industry, forecast to surpass $1 trillion by analysts at Omdia, is at a pivotal moment. Segments like online video, gaming and music are driving growth, while ad-supported streaming services like FAST (Free Ad-Supported Streaming TV) are reshaping consumer habits. Yet, the rapid rise of AI video tools like Sora could be introducing a new layer of disruption.
While Rogan's "RIP Hollywood" comment is dramatic, it stresses a growing tension. AI tools like Sora are enabling unprecedented creative possibilities, but they're also raising ethical questions and challenging long-standing industry norms. Whether this will result in a golden age of democratized creativity or an era of job displacement and homogenized content remains to be seen.
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<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
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Startups

'RIP Hollywood?' Joe Rogan Shares OpenAI's Sora Video, Asking The Question On Everyone's Mind – Is A Trillion-Dollar Industry At Risk?

David Tepper is uber bullish on China: It's a 'buy everything moment'

RLX Technology Q3 2024 Earnings Preview

Here's the major earnings before the open tomorrow

RLX Technology Non-GAAP EPADS of $0.03 in-line, revenue of $107.8M beats by $2.94M

RLX Technology Inc. 2024 Q3 - Results - Earnings Call Presentation

RLX Technology Inc. (RLX) Q3 2024 Earnings Call Transcript

RLX Technology (RLX) has released an update. RLX Technology reported strong third-quarter financial results for 2024, with a notable 51.6% increase...

RLX Technology Posts Strong Q3 Results, Boosts Dividend

Rlx Technology, Inc. ( ($RLX) ) has released its Q3 earnings. Here is a breakdown of the information Rlx Technology, Inc. presented to its investor...

RLX Technology's Strong Q3 2024 Financial Performance

RLX Technology declares $0.01 dividend

China ADRs have increased to the largest share since late 2021 – GS

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Press Releases

RLX Technology Unveils 2022-2023 Corporate Social Responsibility Report

RLX Technology to Report Fourth Quarter and Fiscal Year 2023 Financial Results on March 15, 2024

Earnings

RLX Technology Announces Unaudited Fourth Quarter and Fiscal Year 2023 Financial Results

RLX Technology Files 2023 Annual Report on Form 20-F

RLX Technology to Report First Quarter 2024 Financial Results on May 17, 2024

RLX Technology Announces Unaudited First Quarter 2024 Financial Results

RLX Technology to Report Second Quarter 2024 Financial Results on August 16, 2024

RLX Technology Announces Unaudited Second Quarter 2024 Financial Results

RLX Technology to Report Third Quarter 2024 Financial Results on November 15, 2024

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