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Saiheat

Saiheat Ltd develops technologies for the Computing Center Ecosystem (ACCE), a next-gen computing center featuring high-performance servers, liquid cooling, and systems for capturing and recycling computing heat. It aims to reduce the carbon footprint of Bitcoin mining and AI operations. The Company has four reportable segments: equipment sales, hosting, mining pool business, and mining.

SAIHEAT Limited - Class A Ordinary Shares

Saiheat Ltd

<ul>
<li>The Itovebi (inavolisib)-based regimen reduced the risk of death by more than 30% in people with PIK3CA-mutated HR-positive, HER2-negative advanced breast cancer, compared with palbociclib and fulvestrant alone –</li>
<li>The PIK3CA mutation is found in approximately 40% of HR-positive advanced breast cancers and is associated with a poor prognosis –</li>
<li>New data are being presented in an oral session at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting and published in the New England Journal of Medicine</li>
</ul>

News

RHHBF

RHHBY

Reported Saturday, Genentech's Itovebi-Based Regimen Cuts Risk Of Death By Over 30% In PIK3CA-Mutated HR-Positive, HER2-Negative Advanced Breast Cancer, Phase III INAVO120 Data Show

President Donald Trump&#8216;s artificial intelligence advisor, David Sacks, criticized former President Barack Obama&#8216;s recent warnings <a href="https://www.benzinga.com/markets/25/05/45486440/david-sacks-hails-trumps-ai-strategy-in-middle-east-as-power-move-over-china-openai-ceo-sam-altman-backs-him-sorry-naive-people-are-giving-you-grief">about AI-driven job displacement</a>, characterizing them as part of a coordinated &#8220;influence operation&#8221; designed to advance &#8220;Global AI Governance&#8221; initiatives.
What Happened: In a series of posts on X, Sacks warned Republicans against accepting Obama&#8217;s &#8220;hyperbolic and unproven claims about AI job loss,&#8221; describing them as ammunition for what he termed a &#8220;massive power grab by the bureaucratic state and globalist institutions.&#8221;
The crypto czar specifically targeted &#8220;Effective Altruist&#8221; billionaires with histories of funding left-wing causes and opposing Trump.
Sacks responded to Andreessen Horowitz general partner Martin Casado, who praised coverage of Open Philanthropy&#8217;s alleged astroturfing campaign to regulate AI compute resources.
&#8220;There is much much more going on that is either unknown or chronically underdiscussed,&#8221; Casado noted, highlighting what he characterized as coordinated efforts to restrict AI development.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Republicans should understand that when Obama retweets hyperbolic and unproven claims about AI job loss, it's not an accident, it's part of an influence operation. The goal: to further "Global AI Governance," a massive power grab by the bureaucratic state and globalist… <a href="https://t.co/1cURrzzSL5">https://t.co/1cURrzzSL5</a>
&mdash; David Sacks (@DavidSacks) <a href="https://twitter.com/DavidSacks/status/1929276589566562358?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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Sacks emphasized the fundamental ideological divide, stating these actors &#8220;fundamentally believe in empowering government to the maximum.&#8221; He warned that &#8220;the single greatest dystopian risk associated with AI is the risk that government uses it to control all of us,&#8221; potentially creating an &#8220;Orwellian future where AI is controlled by the government.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/cannabis/25/06/45713895/bitcoin-ethereum-dogecoin-hold-steady-amid-us-china-trade-war-tensions-analyst-foresees-big-party-if-btc-reclaims-106000" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Hold Steady Amid US-China Trade War Tensions: Analyst Foresees ‘Big Party' If BTC Reclaims $106,000</a>
Why It Matters: This pivot follows what industry observers call the &#8220;DeepSeek moment,&#8221; when China&#8217;s breakthrough AI model demonstrated significant capabilities, challenging Western assumptions about Chinese AI development. 
The controversy highlights tensions between rapid AI advancement and governance frameworks. Hedge fund manager Paul Tudor Jones recently warned that <a href="https://www.benzinga.com/tech/25/05/45229107/paul-tudor-jones-warns-ai-could-kill-50-of-humanity-without-proper-oversight-were-creating-something-thats-really-dangerous">leading AI modelers believe there&#8217;s a 10% chance</a> AI could &#8220;kill 50% of humanity&#8221; within 20 years, yet security spending remains minimal compared to $250 billion in development investments by major tech companies.
Sacks concluded his analysis by warning that &#8220;WokeAI + Global AI Governance = the most Orwellian future imaginable,&#8221; positioning this combination as the ultimate goal of Effective Altruist organizations seeking expanded regulatory control over AI development and deployment.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/topics/25/06/45714095/chamath-palihapitiya-calls-tesla-an-obvious-win-says-robotaxi-alphabets-waymo-will-overtake-uber-and-lyft" target="_blank" rel="noreferrer noopener">Chamath Palihapitiya Calls Tesla An ‘Obvious Win,' Says Robotaxi, Alphabet's Waymo Will Overtake Uber And Lyft</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Tapati Rinchumrus on Shutterstock.com

Tech

Obama's AI Job Loss Warnings Aren't Accidental, Says David Sacks: They're Fueling A Global Power Grab And 'The Most Orwellian Future Imaginable'

<ul>
<li>TTFields therapy concomitant with gemcitabine and nab-paclitaxel is the first treatment to show a clinically meaningful and statistically significant improvement in overall survival (OS) for patients with unresectable, locally advanced pancreatic adenocarcinoma in a Phase 3 trial</li>
<li>The OS benefit observed with TTFields therapy is supported by significantly improved quality of life and extended pain-free survival, a key outcome for patients with pancreatic cancer</li>
<li>Results from PANOVA-3 accepted as a late-breaking abstract for oral presentation at ASCO and simultaneous publication in the Journal of Clinical Oncology</li>
</ul>

NVCR

ZLAB

Reported Sunday, Zai Lab And Novocure Announce PANOVA-3 Results: TTFields Therapy Achieves Median OS Of 16.2 Months With Significant Gains In Quality Of Life And Pain Control

The U.S. Commerce Secretary, Howard Lutnick, doubles down on the Trump administration&#8217;s tariff strategy following recent federal court rulings that blocked key trade policies, declaring America&#8217;s trade deficit a national emergency requiring immediate action.
What Happened: In a Fox News interview <a href="https://www.youtube.com/watch?v=t0UtSmEWhbw">on</a> Sunday, Lutnick outlined the legal framework supporting continued tariff implementation. &#8220;The $1.2 trillion trade deficit, and all the underlying implications of that, is a National Emergency — it&#8217;s gutting our manufacturing base&#8230; rest assured, tariffs are not going away,&#8221; Lutnick stated.
Lutnick emphasized that Congress granted President Donald Trump authority under the International Emergency Economic Powers Act (IEEPA) to address countries creating national emergencies. 
&#8220;Congress has given this authority to Trump, and he&#8217;s going to use it,&#8221; he said, indicating multiple legal pathways remain available even if current challenges succeed in higher courts.
See Also: <a href="https://www.benzinga.com/cannabis/25/06/45714519/ross-ulbricht-the-silk-road-founder-pardoned-by-trump-soon-after-his-inauguration-receives-a-whopping-31-million-worth-of-bitcoin-in-donation-wallet">Ross Ulbricht, The Silk Road Founder Pardoned By Trump Soon After His Inauguration, Receives A Whopping $31 Million Worth Of Bitcoin In Donation Wallet</a>
Why It Matters: Lutnick&#8217;s comments come as federal courts have blocked significant portions of Trump&#8217;s tariff program. U.S. District Judge Rudolph Contreras ruled <a href="https://www.benzinga.com/25/05/45687946/second-federal-judge-blocks-trumps-emergency-tariff-powers-hours-after-us-court-of-international-trade-ruling">IEEPA does not grant Trump authority to impose tariffs</a> without Congressional approval. 
The U.S. Court of International Trade separately struck down 6.7 percentage points of tariffs, potentially <a href="https://www.benzinga.com/news/25/05/45707793/tariffs-blocked-by-court-but-goldman-sachs-says-trump-could-reimpose-them-within-days">affecting $200 billion </a>in annual revenue.
Goldman Sachs economist Alec Phillips noted the administration could quickly reimpose similar tariffs using Section 122 authority, which allows 15% tariffs for 150 days without Congressional approval. 
The Kobeissi Letter <a href="https://www.benzinga.com/government/regulations/25/05/45667775/trumps-tariff-refund-could-cost-us-10-billion-with-2-month-end-rebalance-impact-on-equities-in-case-of-an-appeal-uncertainty-is-back-front-and-center">estimates that approximately $10 billion</a> in tariff revenue has been collected since April 2, which could require refunding if court rulings are upheld.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45714416/former-treasury-secretary-larry-summers-warns-the-dollar-is-starting-to-trade-like-a-latin-american-currency-greenback-going-from-safe-haven-to-risk-asset">Former Treasury Secretary Larry Summers Warns The Dollar Is Starting To Trade Like A Latin American Currency — Greenback Going From Safe Haven To Risk Asset?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Miha Creative via Shutterstock

Government

Politics

Legal

Economics

Markets

Howard Lutnick Calls $1.2 Trillion Trade Deficit A 'National Emergency,' Says Trump's Tariffs Are 'Not Going Away'

Fundstrat&#8217;s Tom Lee has been betting on a &#8220;new bull market&#8221; following the spike in the volatility gauge in April, while another analyst believes that it is the &#8220;TACO&#8221; trade that is fueling the &#8220;run it hot&#8221; optimism in the market.
What Happened: According to Lee, the April lows were a &#8220;huge liquidation event,&#8221; as the CBOE VIX Index, or the fear gauge, spiked to the 60 level and the market was &#8220;reset,&#8221; fueling &#8220;a new bull market.&#8221;
&#8220;I think we had what was a miniature bear market, but has essentially rebirthed the new bull market,&#8221; he <a href="https://www.cnbc.com/2025/05/30/tom-lee-says-the-april-selloff-rebirthed-a-new-bull-market-.html?__source=twitter%7Cpro&amp;taid=6839dcb51dc732000173796f&amp;utm_campaign=trueanthem&amp;utm_content=pro&amp;utm_medium=social&amp;utm_source=twitter">told</a> CNBC.
The head of research at Fundstrat Global Advisors also expects &#8220;pretty shallow&#8221; dips from here, advising investors to consider small-cap stocks other than the Magnificent 7.
&#8220;As I look at the second half, I think the small caps really have a strong case to be made, because as long as we move towards a tariff resolution, or the markets feel that way, then I think investors can actually start putting flows back into stocks other than the Mag Seven," Lee said.
While a Federal appeals court <a href="https://www.benzinga.com/news/legal/25/05/45683326/trump-tariffs-temporarily-preserved-as-appeals-court-pauses-lower-ruling">temporarily reinstated</a> Donald Trump&#8216;s tariffs after the Court of International Trade invalidated them, the growing tensions with China and the ongoing court hearing about tariffs could keep the market on edge. 
However, Bob Elliott of Unlimited Funds said in an X post that the &#8220;TACO&#8221; or &#8216;Trump Always Chickens Out&#8217; trade could pave the way for a &#8220;Run It Hot&#8221; economic environment, characterized by growth-oriented policies and sustained stimulus, further fueling market optimism.
Elliott&#8217;s post signaled a widespread belief that Trump's possible tariff rollbacks or extensions are not only predictable but also conducive to a pro-growth economic stance.
According to him, &#8220;consensus&#8221; reflects market sentiment that TACO is priced in, meaning investors anticipate Trump&#8217;s tariff retreats, especially now that he is embroiled in the legal battle over the validation of his levied tariffs.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">TACO and Run It Hot are consensus at this point.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1929147958139744440?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/politics/25/05/45691310/trump-tariff-uncertainty-enters-courts-experts-say-investors-should-expect-elevated-turbulence-amid-the-bullish-gridlock">Trump Tariff Uncertainty Enters Courts: Experts Say &#8216;Investors Should Expect Elevated Turbulence&#8217; Amid The Bullish &#8216;Gridlock&#8217; </a>
Why It Matters: On Friday, Trump accused China of violating an agreement with the U.S. to ease tariffs in his Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/114596705340367716">post</a>. However, Trump did not specify the details of this violation.
<figure class="wp-block-image aligncenter size-full"><img loading="lazy" decoding="async" width="451" height="373" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02030148/China-violation.png" alt="" class="wp-image-934642" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02030148/China-violation.png 451w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/02030148/China-violation-300x248.png 300w" sizes="(max-width: 451px) 100vw, 451px" /></figure>
Treasury Secretary Scott Bessent on Sunday clarified that China was withholding critical minerals it agreed to release in a trade deal the country signed with U.S. negotiators last month in Geneva.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Friday. The SPY was down 0.11% at $589.39, while the QQQ declined 0.16% to $519.11, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Monday, the futures of the S&amp;P 500, Dow Jones and Nasdaq 100 indices were trading lower.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/05/45688628/dells-ai-server-orders-hit-record-12-1-billion-in-q1-backlog-swells-to-14-4-billion-exceptionally-strong-demand">Dell&#8217;s AI Server Orders Hit Record $12.1 Billion In Q1, Backlog Swells To $14.4 Billion: &#8216;Exceptionally Strong Demand&#8217;<span class="author" style="box-sizing: border-box; border: 0px solid rgb(229, 231, 235); --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: ; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246/0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: ; --tw-brightness: ; --tw-contrast: ; --tw-grayscale: ; --tw-hue-rotate: ; --tw-invert: ; --tw-saturate: ; --tw-sepia: ; --tw-drop-shadow: ; --tw-backdrop-blur: ; --tw-backdrop-brightness: ; --tw-backdrop-contrast: ; --tw-backdrop-grayscale: ; --tw-backdrop-hue-rotate: ; --tw-backdrop-invert: ; --tw-backdrop-opacity: ; --tw-backdrop-saturate: ; --tw-backdrop-sepia: ; --tw-contain-size: ; --tw-contain-layout: ; --tw-contain-paint: ; --tw-contain-style: ;">Jim Cramer Attributes Nvidia&#8217;s Premarket Dip To &#8216;Meme Money&#8217; Frenzy: &#8216;Just Small Motivated Shareholders Knocking It Down&#8217;</a></li>
</ul>
Photo courtesy: Joey Sussman / Shutterstock.com

Tom Lee Bets On 'A New Bull Market,' As Trump's Tariff Retreat Fuels 'TACO' Trade Amid 'Run It Hot' Optimism

<ul>
<li>Phase 2 (Actuate-1801 Part 3B) trial meets primary endpoint and demonstrates a clinically meaningful increase in median overall survival (10.1 months vs 7.2 months; log-rank p=0.01) in previously untreated patients with metastatic pancreatic ductal adenocarcinoma (mPDAC) receiving elraglusib/GnP</li>
<li>Risk of death was reduced by 37% (HR=0.63) in patients treated with elraglusib/GnP</li>
<li>Data featured as an oral presentation at the ASCO Annual Meeting</li>
<li>Company plans to engage with FDA in the second half of 2025 to align on a path towards product registration</li>
<li>Company to host KOL event today at 6:30 pm CDT to discuss 1801 Part 3B results</li>
</ul>

ACTU

Reported Saturday, Actuate's Elraglusib Meets Primary Endpoint In Phase 2 mPDAC Trial, Extending Median Overall Survival To 10.1 Months And Cutting Risk Of Death By 37%

Macro Economic Events

Econ #s

Eurozone Manufacturing Purchasing Managers Index For May 49.4 Vs. 48.4 Est.; 49.0	Prior

Germany Manufacturing Purchasing Managers Index For May 48.3 Vs. 48.8 Est.; 48.4 Prior

France Manufacturing Purchasing Managers Index For May 49.8 Vs. 49.5 Est.; 48.7 Prior

CLEU

Reported Sunday, China Liberal Education To Be Suspended From Nasdaq June 3 After Failing To Address 20-F Filing Delinquency

GILD

Reported Sunday, Gilead's Kite Presents Real-World Data At ASCO 2025 Supporting Outpatient Use Of Yescarta For R/R Large B-Cell Lymphoma With Comparable Safety And Efficacy

<ul>
<li>First Pivotal Phase 3 Trial to Show Superiority of a TROP-2 Antibody-Drug Conjugate, Trodelvy, Plus Keytruda Versus Standard of Care in 1L Metastatic TNBC –</li>
<li>Early Trend in Improvement in Overall Survival Observed</li>
</ul>

Reported Saturday, Gilead's TROP-2 ADC Trodelvy, In Combination With Keytruda, Shows Clinically Meaningful Survival Gains And Fewer Adverse Event-Related Discontinuations In ASCENT-04

The CNN Money Fear and Greed index showed some decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Friday.
U.S. stocks settled mixed on Friday, with the Dow Jones index gaining more than 50 points during the session after President Donald Trump accused China of &#8220;totally&#8221; breaching a tariff agreement, raising new fears over trade disputes.
Wall Street closed on a positive note last month, with the S&amp;P 500 gaining more than 6.2% in May and the Nasdaq jumping 9.6%. Both indices recorded their strongest months since November 2023. The Dow surged 3.9% for the month.
For the week, the S&amp;P 500 climbed, while the 30-stock Dow climbed 1.6%. The tech-laden Nasdaq, meanwhile, surged 2% last week.
Shares of Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) fell more than 2% on Friday after the company reported mixed financial results for the first quarter. Shares of Ulta Beauty Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) jumped around 12% after the company reported better-than-expected first-quarter financial results and raised guidance.
On the economic data front, the University of Michigan consumer sentiment was revised higher to 52.2 in May versus a preliminary reading of 50.8. The Chicago PMI declined to 40.5 in May versus 44.6 in the previous month.
Most sectors on the S&amp;P 500 closed on a negative note, with energy, consumer discretionary and information technology stocks recording the biggest losses on Friday. However, consumer staples and utilities stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 54 points to 42,270.07 on Friday. The S&amp;P 500 slipped 0.01% to 5,911.69, while the Nasdaq Composite declined 0.32% to 19,113.77 during Friday's session.
Investors are awaiting earnings results from The Campbell&#8217;s Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>), Science Applications International Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NASDAQ">SAIC</a>) and Credo Technology Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 61.5, the index remained in the &#8220;Greed&#8221; zone on Friday, versus a prior reading of 62.4.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/cannabis/25/05/45692676/wall-streets-most-accurate-analysts-spotlight-on-3-utilities-stocks-delivering-high-dividend-yields-8">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields</a> </li>
</ul>
Photo courtesy: Shutterstock

Equities

CRDO

DELL

SAIC

ULTA

S&P 500 Records Gain For May: Investor Sentiment Declines, But Fear Index Remains In 'Greed' Zone

<ul>
<li>Rusfertide plus current standard of care more than doubled clinical response rates across high- and low-risk PV groups, significantly reducing phlebotomy eligibility compared to placebo plus current standard of care, which was the primary endpoint</li>
<li>All key secondary endpoints met with statistical significance, including a nearly three-fold reduction in the proportion of patients requiring phlebotomy and a four-fold improvement in hematocrit control in rusfertide arm compared to placebo arm, as well as improvements in patient-reported outcomes</li>
<li>No serious adverse events considered related to rusfertide were reported</li>
<li>Rusfertide has received Orphan Drug designation and Fast Track designation from the U.S. FDA</li>
</ul>

PTGX

Reported Sunday, Protagonist And Takeda Present 32-Week VERIFY Data: Rusfertide Significantly Reduces Phlebotomy, Improves Symptoms In Polycythemia Vera

With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul class="wp-block-list">
<li>Wall Street expects Campbell&#8217;s Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) to report quarterly earnings at 66 cents per share on revenue of $2.43 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Campbell&#8217;s shares gained 0.6% to $34.24 in after-hours trading.</li>
<li>Analysts expect Science Applications International Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NASDAQ">SAIC</a>) to post quarterly earnings at $2.13 per share on revenue of $1.87 billion. The company will release earnings before the markets open. SAIC shares rose 0.2% to $115.71 in after-hours trading.</li>
<li>Plus Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTV#NASDAQ">PSTV</a>) posted a net loss of $17.4 million, or $1.19 per share, for the first quarter, versus a year-ago net loss of $3.3 million, or 75 cents per share. Plus Therapeutics shares jumped 34.2% to $0.3851 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul class="wp-block-list">
<li>Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) announced plans to acquire Blueprint Medicines Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) for $9.5 billion. Blueprint Medicines shares fell 1.7% to close at $101.35 on Friday.</li>
<li>Analysts expect Credo Technology Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) to post quarterly earnings at 28 cents per share on revenue of $160.16 million after the closing bell. Credo Technology shares gained 0.6% to $61.30 in after-hours trading.</li>
</ul>
Check This Out:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/cannabis/25/05/45692676/wall-streets-most-accurate-analysts-spotlight-on-3-utilities-stocks-delivering-high-dividend-yields-8"> Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Utilities Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo via Shutterstock

BPMC

PSTV

Campbell's, SAIC And 3 Stocks To Watch Heading Into Monday

China has refuted U.S. President Donald Trump&#8216;s claims of breaching the Geneva trade agreement, labeling them as unfounded. 
What Happened: On Monday, China's Commerce Ministry rejected Trump's accusations that Beijing had breached the Geneva trade agreement. The ministry confirmed that China had implemented and consistently upheld the agreement reached in Geneva last month, <a href="https://english.news.cn/20250602/ebecebe8437e464da4723ebd20a5e72b/c.html">reported </a>Xinhua News.
The Chinese government stated that the U.S. had &#8220;groundlessly&#8221; accused the nation of breaching the trade deal and pledged to take aggressive measures to protect its interests.
Trump had accused China of breaching a bilateral deal to reduce tariffs. The ministry countered, stating that the U.S. had imposed several &#8220;discriminatory restrictive&#8221; measures against China, such as restricting AI chip exports, banning the sale of chip design software to China and revoking visas for Chinese students. 
&#8220;The U.S. government has unilaterally and repeatedly provoked new economic and trade frictions, exacerbating uncertainty and instability in bilateral economic and trade relations,&#8221; the ministry stated. 
SEE ALSO: <a href="https://benzinga.com/cannabis/25/05/45691518/110m-wiped-out-bitcoin-whale-trader-gets-burned-as-btc-tags-104150" target="_blank" rel="noreferrer noopener">$110M Wiped Out: Bitcoin Whale Trader Gets Burned As BTC Tags $104,150 &#8211; Benzinga</a>
Why It Matters: This recent dispute follows a series of events that have strained U.S.-China trade relations. On Friday, President Trump accused China of violating an agreement to ease tariffs. Analysts suggest China&#8217;s delay in approving rare earth export licenses, over which it holds strategic control, may have fueled Trump&#8217;s anger, even though he didn&#8217;t directly mention them in his accusations, reported the South China Morning Post.
Following the development. the U.S.-listed Chinese stocks, including Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) and Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45703311/us-listed-chinese-stocks-drop-after-trump-renews-trade-tensions">dropped</a> 2.95% and 2.85%, respectively.
A day prior to that, China called on the U.S. to completely <a href="https://www.benzinga.com/markets/25/05/45664337/china-tells-us-to-entirely-revoke-wrongful-unilateral-tariffs-after-court-blocks-trumps-liberation-day-levies">withdraw </a>the unilateral tariff measures when a U.S. federal court blocked Trump tariffs which have now been temporarily reinstated.
Meanwhile, U.S. Treasury Secretary Scott Bessent indicated that trade negotiations between the two countries had reached a <a href="https://www.benzinga.com/25/05/45685544/scott-bessent-says-us-china-trade-talks-at-stalemate-need-trump-and-xi-jinping-touch-to-break-the-deadlock">stalemate</a>. On Sunday, Bessent stated in an interview with CBS news that he is confident President Trump and Chinese President Xi Jinping would meet &#8220;soon&#8221; and iron out the differences. 
<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/cannabis/25/06/45714198/elon-musks-kekius-maximus-gameplay-sends-these-namesake-coins-surging" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s &#8216;Kekius Maximus&#8217; Gameplay Sends These Namesake Coins Surging &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BABA

BIDU

Xi Jinping's China Dismisses Trump's 'Groundless' Accusations On Geneva Trade Deal Breach, Vows Strong Retaliation

Scott Bessent, the U.S. Treasury Secretary, assured that the country will not default on its debt, even as the deadline for raising the federal debt ceiling approaches.
What Happened: Bessent, in an interview with CBS&#8217;s Face the Nation on Sunday, dismissed the possibility of a default. &#8220;The United States of America is never going to default. That is never going to happen,&#8221; he said, <a href="https://www.cbsnews.com/news/scott-bessent-treasury-secretary-face-the-nation-06-01-2025/">reported</a> CBS News.
The debt ceiling, a cap set by Congress on the amount of debt the federal government can legally borrow, is a contentious issue. Republican leaders have linked the debt limit increase to President&nbsp;Donald Trump&#8216;s tax and spending bill, adding complexity to the negotiations over the legislation.
Bessent did not reveal the &#8220;X date&#8221; — the moment when the Treasury exhausts its cash and special accounting maneuvers that help it remain under the debt ceiling while continuing to meet federal obligations on time. He explained that this information is used to advance the bill.
He also responded to a warning from Jamie Dimon, CEO of JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), regarding a possible disruption in the bond market. Bessent said, &#8220;I've known Jamie for a long time, and for his entire career he's made predictions like this. Fortunately none of them have come true.&#8221; 
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SEE ALSO:&nbsp;<a href="https://benzinga.com/cannabis/25/06/45713593/trump-shares-baseless-theory-about-bidens-alleged-execution-and-subsequent-robotic-replacement-in-2020" target="_blank" rel="noreferrer noopener">Trump Shares Baseless Theory About Biden&#8217;s Alleged Execution And Subsequent Robotic Replacement In 2020</a>
Why It Matters: The assurance from Bessent comes amid warnings from financial experts.&nbsp;<a href="https://www.benzinga.com/markets/economic-data/25/05/45704089/jamie-dimon-warns-of-bond-market-crisis-caused-by-us-debt-binge-youre-going-to-panic">Jamie Dimon</a> had recently warned of a potential crisis in the bond market due to unchecked debt and monetary expansion. Similarly, former Treasury Secretary&nbsp;<a href="https://www.benzinga.com/markets/25/05/45686699/larry-summers-issues-stark-warning-the-big-beautiful-bill-is-actually-a-prescription-for-deadly-dangerous-decline">Larry Summers</a>&nbsp;had criticized the lack of fiscal discipline in current Republican proposals, warning of a potential crisis if current debt trends continue. 
The statements from Bessent are crucial in maintaining investor confidence amid these criticisms. 
Meanwhile, the Treasury Secretary also ruled out apprehensions about inflation. "Actually, the inflation numbers are the best in four years. So why don't we stop trying to say this could happen, and wait and see what does happen,&#8221; stated Bessent.
<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/cannabis/25/06/45713578/jerome-powell-to-step-down-x-abuzz-with-rumors-but-polymarket-bettors-are-not-buying-it" target="_blank" rel="noreferrer noopener">Jerome Powell To Step Down? X Abuzz With Rumors, But Polymarket Bettors Are Not Buying It &#8211; Benzinga</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

US 'Never Going To Default,' Says Scott Bessent, Dismissing Jamie Dimon's Debt Crisis Warnings: 'For His Entire Career…'

Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) Co-Founder Joe Lonsdale delivered sharp criticism of America&#8217;s healthcare system during the Reagan National Economic Forum, calling for artificial intelligence adoption and regulatory reform to combat rising costs and China&#8217;s growing biotechnology dominance.
What Happened: Speaking on CNBC, Lonsdale outlined a two-pronged crisis threatening U.S. healthcare leadership. On the biotechnology front, China has captured 30% of the global biotech market in just five years, leveraging regulatory speed advantages to undercut American innovation. 
&#8220;They take a company we started a year or two ago, go after the same target, get through their regulators faster and then sell it back to our pharma companies,&#8221; Lonsdale said, citing the FDA&#8217;s decade-long approval timelines as a critical competitive disadvantage.
The venture capitalist emphasized that China&#8217;s biotechnology surge combines legitimate innovation with intellectual property theft. This dynamic discourages U.S. investment in certain therapeutic areas where regulatory delays create vulnerability to foreign competition.
See Also: <a href="https://www.benzinga.com/markets/market-summary/25/06/45713715/dow-futures-slip-over-100-points-after-trump-announces-doubling-steel-tariffs-nikkei-down" target="_blank" rel="noreferrer noopener">Dow Futures Slip Over 100 Points After Trump Announces Doubling Steel Tariffs, Nikkei Down</a>
Why It Matters: Healthcare services represent the second battleground, with Lonsdale describing city-based hospital systems as &#8220;effectively cartels&#8221; that block competition through state-level legislation. These barriers prevent new provider networks and limit patient data portability, driving up costs across the healthcare economy.
Current healthcare inflation threatens national fiscal stability, with unfunded Medicare and Medicaid obligations. &#8220;If that keeps going up 6-7% a year, no one&#8217;s going to get healthcare except for maybe the rich,&#8221; Lonsdale warned, noting healthcare&#8217;s resistance to broader deflationary trends.
Lonsdale praised Elon Musk&#8217;s Department of Government Efficiency (DOGE) efforts, noting the program cut approximately $150-160 billion annually before Musk&#8217;s departure. He calculated that this represents $3 trillion in equity value based on the government&#8217;s cost of capital. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Palantir Co-Founder Joe Lonsdale on the growing important of AI in defense" width="500" height="281" src="https://www.youtube.com/embed/3zlOYet-cqA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read Next:
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<li><a href="https://www.benzinga.com/cannabis/25/06/45713895/bitcoin-ethereum-dogecoin-hold-steady-amid-us-china-trade-war-tensions-analyst-foresees-big-party-if-btc-reclaims-106000" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Hold Steady Amid US-China Trade War Tensions: Analyst Foresees ‘Big Party' If BTC Reclaims $106,000</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: PeopleImages.com &#8211; Yuri A On Shutterstock.com

Health Care

PLTR

Joe Lonsdale Slams Healthcare 'Cartels:' Urges AI, Regulatory Reform To Slash Costs, Reclaim Biotech From China

Highlights of the REZILIENT1 Phase 1/2 trial in the authors' conclusions include:
<ul>
<li>Zipalertinib demonstrated clinically meaningful efficacy in the primary efficacy population (n=176), including 51 patients who had received prior amivantamab.</li>
<li>The confirmed objective response rate (ORR) was 35.2% overall, and median duration of response (mDOR) and progression-free survival were 8.8 months and 9.4 months, respectively.</li>
<li>In patients treated after prior platinum-based chemotherapy only (n=125), ORR was 40% with mDOR of 8.8 months.</li>
<li>The safety profile of zipalertinib was manageable and consistent with previously reported data.¹</li>
<li>In exploratory subgroup analyses:
<ul>
<li>Patients who had received prior&nbsp;amivantamab without other ex20ins-targeted therapy showed a confirmed ORR of 30% and mDOR of 14.7 months.</li>
<li>Patients with brain metastases showed a confirmed&nbsp;ORR of 30.9% and a mDOR of 8.3 months</li>
</ul>
</li>
</ul>

CGEM

TAIHF

Reported Sunday, Taiho And Cullinan's Zipalertinib Shows 40% ORR In Platinum-Treated EGFR ex20ins NSCLC, REZILIENT1 Results Published In JCO

Reported Saturday, Tempus Unveils Fuses Program To Transform Precision Medicine With AI-Powered Diagnostic Models And Multimodal Data At Scale

Press Releases

SAIHEAT Purchases $1.5 Million of Bitcoin

SAIHEAT Announces Appointment of Alexandre Nakata Ezzidi as Nuclear Energy Strategy Consultant

SAIHEAT Limited to Hold Extraordinary General Meeting on February 26, 2025

SAIHEAT Limited Announces Results of Extraordinary General Meeting

SAIHEAT Limited Announces Effective Date of Reverse Stock Split

General

SAIHEAT Announces Joining 1CP Program to Optimize Energy Costs for Bitcoin Mining

SAIHEAT to Provide 40MW Liquid-Cooling Container Solutions to Bitdeer for the Construction of Its New Data Center

Contracts

SAIHEAT Limited Initially Covered by uSMART Securities

Earnings

SAIHEAT Limited Reports Audited Financial Results for the Year Ended December 31, 2024

SAIHEAT Secures Patent for Innovative Control Rod Drive Mechanism in Small Modular Reactor Technology

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