Permian Resources (NYSE:PR) Azioni

PERMIAN RESOURCES CORP

Permian Resources

Permian Resources Corp is an independent oil and natural gas company focused on generating outsized returns to stakeholders through the responsible acquisition, optimization and development of oil and liquids-rich natural gas assets. The Company's assets and operations are concentrated in the core of the Permian Basin, and its properties consist of large, contiguous acreage blocks located in West Texas and New Mexico.

Keybanc analyst Justin Patterson upgrades Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) from Sector Weight to Overweight and announces $115 price target.

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Analyst Ratings

ROKU

Keybanc Upgrades Roku to Overweight, Announces $115 Price Target

Shares of WK Kellogg Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) rose sharply in today's pre-market trading following a WSJ report <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46332395/wk-kellogg-stock-pops-50-on-potential-3-billion-acquisition">suggesting Ferrero is nearing a deal to acquire the company.</a>
Family-owned Italian candy company Ferrero is closing in on a deal to acquire cereal maker WK Kellogg for roughly $3 billion, according to a Wall Street Journal report. People familiar with the matter reportedly said a deal could be completed as soon as this week.
WK Kellogg shares jumped 50.2% to $26.31 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul class="wp-block-list">
<li>Steakholder Foods Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STKH#NASDAQ">STKH</a>) surged 137.6% to $4.16 in pre-market trading.</li>
<li>GIBO Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIBO#NASDAQ">GIBO</a>) climbed 51.4% to $0.0512 in pre-market trading after dipping 18% on Wednesday.</li>
<li>Nurix Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRIX#NASDAQ">NRIX</a>) rose 51.1% to $20.00 in pre-market trading as the company posted better-than-expected second-quarter results.</li>
<li>IGC Pharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGC#NYSE">IGC</a>) jumped 51.1% to $0.5550 in pre-market trading after gaining 15% on Wednesday. IGC Pharma has been making significant strides in its field. In June, the company highlighted its fiscal year 2025 with clinical progress and Alzheimer's drug development advances. This included the presentation of a scientific poster titled "Genetic Toxicity Evaluation Of Melatonin In The Bacterial Reverse Mutation Assay," at the 2025 Genetic Toxicology Association Annual Meeting.</li>
<li>Klotho Neurosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLTO#NASDAQ">KLTO</a>) gained 43.1% to $1.96 in pre-market trading as the company was granted FDA Orphan Drug designation for KLTO-202 for the treatment of amyotrophic lateral sclerosis. </li>
<li>NuCana plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNA#NASDAQ">NCNA</a>) gained 37.4% to $0.0831 in pre-market trading after gaining 8% on Wednesday.</li>
<li>Pop Culture Group Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPOP#NASDAQ">CPOP</a>) gained 29.4% to $0.9000 in pre-market trading. Pop Culture Group, a China-based company focused on developing and hosting hip-hop and other entertainment events, completed a private placement on July 4, 2025.</li>
<li>POET Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POET#NASDAQ">POET</a>) gained 15% to $7.01 in pre-market trading after climbing 18% on Wednesday.</li>
<li>ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) gained 13.8% to $4.94 in pre-market trading as investors continue to cheer statistically significant and clinically meaningful results from its Phase 2 REGEN-007 trial for rilparencel.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul class="wp-block-list">
<li>Mereo BioPharma Group plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MREO#NASDAQ">MREO</a>) dipped 36.6% to $1.87 in pre-market trading. Ultragenyx and Mereo BioPharma announced UX143 Phase 3 orbit study for osteogenesis imperfecta progressing to final analysis.</li>
<li>Creative Medical Technology Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELZ#NASDAQ">CELZ</a>) shares tumbled 25.3% to $2.93 in pre-market trading. Creative Medical Technology has received a notice of allowance for a U.S. patent titled &#8220;Treatment Of Heart Failure And/Or Post Infarct Pathological Remodeling By Ex Vivo Reprogrammed Immune Cells.&#8221;</li>
<li>Ultragenyx Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RARE#NASDAQ">RARE</a>) fell 21.3% to $32.50 in pre-market trading. Ultragenyx and Mereo BioPharma announced UX143 Phase 3 orbit study for osteogenesis imperfecta progressing to final analysis.</li>
<li>Basel Medical Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMGL#NASDAQ">BMGL</a>) dipped 17.2% to $3.00 in pre-market trading after gaining 99% on Wednesday.</li>
<li>Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) fell 15.1% to $8.74 in pre-market trading after the company reported a fourth-quarter adjusted EPS miss.</li>
<li>Aethlon Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEMD#NASDAQ">AEMD</a>) fell 13.2% to $1.26 in pre-market trading.</li>
<li>Delixy Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLXY#NASDAQ">DLXY</a>) declined 11.4% to $4.38 in pre-market trading after gaining 24% on Wednesday.</li>
<li>Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) declined 11% to $1.79 in pre-market trading after dipping 20% on Wednesday.</li>
<li>Scage Future (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCAG#NASDAQ">SCAG</a>) shares fell 10.5% to $5.89 in pre-market trading after gaining over 56% on Wednesday.</li>
<li>Bitmine Immersion Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#NYSE">BMNR</a>) fell 7.7% to $61.60 in pre-market trading. BitMine Immersion Technologies shares dipped 40% on Wednesday after the company filed for a mixed shelf.</li>
</ul>
Now Read This: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46316741/top-3-risk-off-stocks-that-may-rocket-higher-in-q3">Top 3 Risk Off Stocks That May Rocket Higher In Q3</a></li>
</ul>
Photo via Shutterstock

AEMD

BMGL

BMNR

CELZ

CPOP

DLXY

GIBO

KLTO

MREO

NCNA

NRIX

POET

PROK

RARE

SCAG

STKH

WOLF

Why WK Kellogg Shares Are Trading Higher By Over 50%; Here Are 20 Stocks Moving Premarket

Kraft Heinz Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) announced Thursday that it has entered into a <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/b46335450/kraft-heinz-announces-agreement-to-sell-italian-baby-and-specialty-food-business-to-italys-newprin" rel="noreferrer noopener">definitive agreement to divest</a> its infant and specialty food portfolio in Italy to NewPrinces Group, one of the region&#8217;s top food and beverage producers. The financial terms of the deal were not disclosed.
The sale includes well-known brands, Plasmon, Nipiol, Dieterba, Aproten, and Biaglut, and a manufacturing plant in Latina, Italy. The deal is expected to close by the end of 2025, pending regulatory approval.
Willem Brandt, President of Europe and Pacific Developed Markets at Kraft Heinz, said the move is designed to sharpen the company&#8217;s focus on core categories such as ketchup, sauces, and condiments, which continue to drive growth under the company&#8217;s Accelerate strategy.
Also Read:<a target="_blank" href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/46097002/kraft-heinz-analyst-longer-bearish-amid-review-strategic-alternatives" rel="noreferrer noopener"> This Kraft Heinz Analyst Is No Longer Bearish Amid Review Of Strategic Alternatives</a>
The Latina facility, which produces approximately 1.8 billion biscuits annually and employs 300 workers, will remain operational under NewPrinces&#8217; ownership. Kraft Heinz said it remains committed to the Italian market and plans to grow its HEINZ product lineup across consumer and foodservice channels.
Carmela Bazzarelli, Managing Director of Kraft Heinz Italia, voiced confidence in NewPrinces&#8217; stewardship of the acquired assets, citing the buyer&#8217;s experience in nutrition and deep roots in the Italian food industry.
NewPrinces, previously known as Newlat Food, broadened its portfolio after acquiring Princes Limited in 2024. Its offerings include brands such as Napolina, Branston, Flora, and Delverde, with distribution spanning the UK and European markets.
KHC has initiated mandatory consultations with labor unions in Italy.
Last month, Kraft Heinz <a target="_blank" href="https://www.benzinga.com/markets/large-cap/25/06/45980305/kraft-heinz-bans-artificial-colors-in-us-products-eyes-full-phaseout-by-2027" rel="noreferrer noopener">announced</a> it would stop launching U.S. products with synthetic FD&amp;C colors and entirely remove them by 2027. With nearly 90% of its lineup already free of such dyes, the move aligns with growing demand for cleaner labels. The initiative reinforces the company&#8217;s long-term shift toward healthier, consumer-preferred ingredients.
Investors may also track relevant ETFs, such as the Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and the iShares U.S. Consumer Goods ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYK#NYSE">IYK</a>).
Price Action: KHC shares are trading higher by 0.19% to $26.50 premarket at last check Thursday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46336626/trump-administration-sues-gavin-newsom-other-state-officials-over-californias-egg-laws-driving-up-prices-nationwide-unnecessary-red-tape" target="_blank" rel="noreferrer noopener">Trump Administration Sues Gavin Newsom, Other State Officials Over California&#8217;s Egg Laws Driving Up Prices Nationwide: &#8216;Unnecessary Red Tape&#8217;</a></li>
</ul>
Photo by Jonathan Weiss via Shutterstock

Asset Sales

Kraft Heinz Sells Italian Infant Food Business

A little-noticed provision tucked deep within the &#8220;One Big, Beautiful Bill&#8221; that was passed and signed into law last week is raising alarm bells among professional gamblers. Wall Street and gambling companies themselves, however, don&#8217;t seem that bothered. 
Check out the current price of&nbsp;<a href="https://www.benzinga.com/quote/DKNG" target="_blank" rel="noreferrer noopener">DKNG stock here.</a>
What Happened: On Wednesday, CNBC&#8217;s Jim Cramer highlighted an under-the-radar tax provision in President Donald Trump&#8217;s bill that pertains to the taxing of gambling winnings. 
Currently, gamblers can deduct losses from winnings when filing taxes, paying only on net gains, Cramer says, similar to stock trading. But starting next year, taxpayers will only be able to deduct 90% of their gambling losses, which could have outsized consequences for professional gamblers, who often operate on large volumes of wins and losses.
Cramer cited an example where a poker pro with $5.2 million in winnings and $5 million in losses would now be taxed as though they earned $700,000, and would thus end up owing more in taxes than what they won.
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46257394/trumps-big-bautiful-bill-passes-ev-tax-breaks-to-end-on-september-30-what-it-means-for-electric-vehicles">Trump&#8217;s &#8216;Big Beautiful Bill&#8217; Passes—EV Tax Breaks To End On September 30: What It Means For Electric Vehicles</a>
Yet, Cramer notes that top gambling stocks remain unfazed by this new tax quirk, highlighting DraftKings Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) 20% rally in June, and Flutter Entertainment PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) up by 12.7% during the same period.
This was attributed to the fact that sports betting companies only cater to players who are net losers in the long run, and would thus not be impacted by this incremental taxation. 
&#8220;This law just makes the moat even bigger,&#8221; Cramer said, reaffirming his bullish outlook on both companies despite the tax-related concerns.
Neither DraftKings nor Flutter Entertainment immediately responded to Benzinga&#8217;s requests for a comment on the matter. This story will be updated as soon as we hear back from them.
Why It Matters: Professional bettors are, of course, very <a href="https://www.benzinga.com/news/gaming/25/07/46268222/trump-big-beautiful-bill-sneaks-90-cap-on-gambling-loss-deductions-punters-warn-new-amendment-could-end-us-professional-gaming">concerned regarding this rule</a>, with Zachary Zimbile, a Las Vegas CPA, saying, &#8220;Add a 10% penalty and it eats a lot of their profit.&#8221;
Rep.&nbsp;Dina Titus&nbsp;(D-NV.), co-chair of the Congressional Gaming Caucus, has, however, vowed to fix the issue, saying that the bill only serves to punish gamblers who do the right thing by reporting their gambling winnings while filing their annual taxes. 
Professional poker player Phil Galford explained the implications of this new rule on professional gambling in a video on X, saying that &#8220;you can&#8217;t be a professional gambler in the U.S. if this goes through.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This new amendment to the One Big Beautiful Bill Act would end professional gambling in the US and hurt casual gamblers, too. You could pay more in tax than you won. Contact your representative quickly. <a href="https://t.co/U5yToBZDcQ">pic.twitter.com/U5yToBZDcQ</a>
&mdash; Phil Galfond (@PhilGalfond) <a href="https://twitter.com/PhilGalfond/status/1940198538493010316?ref_src=twsrc%5Etfw">July 1, 2025</a></blockquote>
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Price Action: Shares of DraftKings were up 1.09% on Wednesday, trading at $42.80, and are down 0.51% after hours.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="146" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10044707/Screenshot-2025-07-10-at-2.16.56-PM-1024x146.png" alt="" class="wp-image-979664" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10044707/Screenshot-2025-07-10-at-2.16.56-PM-1024x146.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10044707/Screenshot-2025-07-10-at-2.16.56-PM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10044707/Screenshot-2025-07-10-at-2.16.56-PM-768x110.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10044707/Screenshot-2025-07-10-at-2.16.56-PM.png 1526w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
DraftKings&#8217; shares score well on Momentum in Benzinga&#8217;s Edge Stock Rankings, with a favorable price trend in the short, medium and long term, but how does it compare with Flutter, and its other peers and competitors within this industry? Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> to find out. 
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<iframe loading="lazy" title="Jim Cramer talks a change to gambling income taxation and how it could impact the betting space" width="500" height="281" src="https://www.youtube.com/embed/levPPeIXOio?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>
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Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46258994/trumps-big-beautiful-bill-hands-5-billion-win-to-big-pharma-report">Trump&#8217;s &#8216;Big, Beautiful Bill&#8217; Hands $5 Billion Win To Big Pharma: Report</a></li>
</ul>
Photo courtesy: katz / Shutterstock.com

Politics

DKNG

FLUT

Jim Cramer Says A Tax Provision In Trump's 'One Big, Beautiful Bill' Could Gut Professional Gambling: Here's Why DraftKings, FanDuel Don't Mind

MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) stock has recorded a 3% increase in pre-market after the company&#8217;s recent developments in quantum algorithms.
What Happened: On Thursday, MicroAlgo, a company focused on developing and applying central processing algorithms, surged to $0.79 during pre-market trading, a 3% increase from the previous close of $0.77.
MicroAlgo on Monday announced the development of a Grover-based quantum algorithm technology designed to find pure Nash equilibria in graphical games. This technology is expected to have far-reaching implications in the field of quantum computing.
See Also: <a href="https://benzinga.com/crypto/25/07/46334779/bitcoin-breaks-112000-ethereum-dogecoin-surge-amid-growing-institutional-interest-nvidia-driven-tech-rally-experienced-trader-peter-brandt-says-i-am-long-btc">Bitcoin Breaks $112,000, Ethereum, Dogecoin Surge Amid Growing Institutional Interest, Nvidia-Driven Tech Rally: Experienced Trader Peter Brandt Says, &#8216;I Am Long BTC&#8217; &#8211; Grayscale Bitcoin Mini Trust (B</a>
Earlier in June, the company proposed a 30-for-1 reverse stock split, which was set to be discussed at an extraordinary meeting on July 2. This move was intended to boost the company&#8217;s stock value and attract more investors.
Why It Matters: MicroAlgo&#8217;s recent advancements in quantum algorithms have been<a href="https://www.benzinga.com/news/25/04/45043531/microalgo-mlgo-reports-return-to-profitability-in-2024-whats-going-on"> driving its stock value</a>. On June 2, the company&#8217;s stock value recorded a 21.58% increase in its <a href="https://www.benzinga.com/insights/short-sellers/25/06/45732277/whats-driving-the-market-sentiment-around-microalgo">short percent of float</a>. This was followed by the proposal for a reverse stock split.
Despite these fluctuations, MicroAlgo&#8217;s focus on quantum algorithm development has been a consistent driver of its<a href="https://www.benzinga.com/insights/movers/25/07/46326437/12-information-technology-stocks-moving-in-wednesdays-intraday-session"> stock value</a>. The recent 3% increase in pre-market value indicates that investors are responding positively to the company&#8217;s latest quantum algorithm developments.
Price in Action: According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data, with an increase of 25.73%, MLGO stock closed at $0.77 on Wednesday. The stock was trading at $0.73 in pre-market at the time of writing.
Benzinga's Edge Stock Rankings indicate strong value potential (96.19) of MicroAlgo Inc&#8217;s stock. Here is <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">how the stock fares</a> on other parameters.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="850" height="154" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040824/Screenshot-2025-07-10-133806.png" alt="" class="wp-image-979599" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040824/Screenshot-2025-07-10-133806.png 850w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040824/Screenshot-2025-07-10-133806-300x54.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040824/Screenshot-2025-07-10-133806-768x139.png 768w" sizes="(max-width: 850px) 100vw, 850px" /></a></figure>
Read Next:
<ul class="wp-block-list">
<li><a href="https://benzinga.com/crypto/cryptocurrency/25/07/46336309/thumzup-media-shares-spike-13-after-hours-as-company-adds-xrp-doge-and-these-coins-to-treasury-along-with-bitcoin">Thumzup Media Shares Spike 13% After Hours As Company Adds XRP, DOGE And These Coins To Treasury Along With Bitcoin &#8211; Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial</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: Thapana_Studio via Shutterstock

Equities

MLGO

MicroAlgo Stock Rises 3% Pre-Market On Quantum Algorithm Breakthrough

Venture capitalist Chamath Palihapitiya has amplified an observation about Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk's efficiency in building cutting-edge AI, despite spending far less than rivals like Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
What Happened: Following <a href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier">the launch of</a> Grok 4, Musk's most advanced large language model developed by his AI startup xAI, Artificial Analysis ranked the model as the most intelligent among leading competitors, surpassing OpenAI's GPT-4, Anthropic's Claude 4 and Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Gemini 2.5 Pro in several key benchmarks.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">xAI gave us early access to Grok 4 &#8211; and the results are in. Grok 4 is now the leading AI model. We have run our full suite of benchmarks and Grok 4 achieves an Artificial Analysis Intelligence Index of 73, ahead of OpenAI o3 at 70, Google Gemini 2.5 Pro at 70, Anthropic Claude… <a href="https://t.co/Vc9781SIzd">pic.twitter.com/Vc9781SIzd</a>
&mdash; Artificial Analysis (@ArtificialAnlys) <a href="https://twitter.com/ArtificialAnlys/status/1943166841150644622?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote>
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In response to this achievement, Palihapitiya posted on X, "Elon doing Elon things… Grok 4 is now the leading AI model in the world. I think people may not realize how impressive this feat is… they started from scratch just a few years ago."
See Also:&nbsp;<a href="https://www.benzinga.com/crypto/25/07/46335091/elon-musk-says-they-arrested-and-killed-peanut-the-squirrel-but-didnt-try-to-file-charges-in-epstein-client-list-pnut-token-soars-5" target="_blank" rel="noreferrer noopener">Elon Musk Says They ‘Arrested' And ‘Killed' Peanut The Squirrel But Didn't Try To File Charges In Epstein Client List — PNUT Token Soars 5%</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elon doing Elon things… Grok 4 is now the leading AI Model in the world. I think people may not realize how impressive this feat is…they started from scratch just a few years ago. <a href="https://t.co/GOhkRPl0g1">https://t.co/GOhkRPl0g1</a>
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1943177837956968499?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote>
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A user replied to his post, saying, "Seriously, how does this guy produce what he produces? Meta is buying talent at $200M/year and Elon keeps his people at a fraction. Mind blowing." Palihapitiya agreed, replying: "This is a critically important point."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is a critically important point.
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1943195784410767453?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote>
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 Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: Meta's Superintelligence Labs (MSL), launched in June 2025, has aggressively <a href="https://www.benzinga.com/news/23/07/33202228/elon-musk-quietly-launches-xai-amid-bid-to-decode-universe">poached top talent</a> from OpenAI, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Google DeepMind with multimillion-dollar offers as part of its pursuit of artificial general intelligence (AGI).
In contrast, Musk's xAI—founded in 2023—has built a world-class model reportedly with a leaner team and lower compensation.
Musk&#8217;s xAI is also seeking to <a href="https://www.benzinga.com/markets/bonds/25/06/45853241/elon-musks-xai-seeks-5-billion-via-morgan-stanley-amid-trump-rift-and-2022-twitter-debt-hangover-report">raise $5 billion as it ramps</a> up API access and deployment across X, Tesla and potentially Microsoft Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure.
xAI's valuation has jumped to <a href="https://www.benzinga.com/news/social-media/25/06/45738963/elon-musks-xai-targets-113-billion-valuation-with-300-million-share-sale-report">$113 billion after its March acquisition</a> of X. The company has also wrapped up a $300 million share sale and is still seeking up to $20 billion in equity funding, with potential valuations climbing as high as $200 billion.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46335021/nvidia-sometimes-feels-like-americas-only-bargaining-chip-in-trade-standoff-with-china-says-jim-cramer-own-it-dont-trade-it" target="_blank" rel="noreferrer noopener">Nvidia Sometimes Feels Like America's Only Bargaining Chip In Trade Standoff With China, Says Jim Cramer: ‘Own It, Don't Trade It'</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

AAPL

GOOG

GOOGL

MSFT

TSLA

Chamath Palihapitiya Agrees With A Social Media User Who Says While Meta Spends $200 Million A Year To Poach AI Talent, Elon Musk Keeps Costs Low But Still Manages To Unveil Better Products

Pearson Unveils English Express Test And Boosts PTE Academic Security To Meet Global Demand For Trusted Assessments

FDA Awards Orphan Drug Status To Klotho Neurosciences' KLTO-202 For Novel Gene Therapy In Amyotrophic Lateral Sclerosis Patients

ALVO

Alvotech Names Linda Jónsdóttir As CFO Following Joel Morales' Decision To Step Down

XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) recorded impressive gains over the past week, rising by nearly 7%, with Ripple Labs&#8217; partnership with Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) providing the latest impetus.
What happened: XRP has been one of the most successful large-cap cryptocurrencies in the last seven days, outgaining Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and trailing only Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).&nbsp;
On Wednesday, it surged to a 7-week high of $2.40. In a note to Benzinga, Arthur Azizov, founder and investor at B2 Ventures, said that XRP is likely to hit $2.65 if it manages to hold over $2.34.
"Since XRP has been in accumulation for quite a long time, the outlook remains positive. Most likely, the breakout will be to the upside, with targets in the $4–6 range," Azizov said.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46319635/xrp-ethereum-solana-and-one-surprise-crypto-not-bitcoin-are-bitwises-cleanest-plays">XRP, Ethereum, Solana And One Surprise Crypto (Not Bitcoin) Are Bitwise&#8217;s &#8216;Cleanest Plays&#8217;</a>
Why It Matters: Ripple, which uses XRP for its payment solutions, said Wednesday that BNY Mellon, the oldest bank in the U.S., <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46323539/xrp-boosted-4-by-ripples-stablecoin-partnership-with-bny-mellon">will serve as the primary custodian</a> for reserves backing its $500 million Ripple USD (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RLUSD</a>) stablecoin.
The bank&#8217;s history is tied to America's founding father, Alexander Hamilton, who co-founded The Bank of New York in 1784, a direct predecessor of today&#8217;s BNY Mellon.
A slew of bullish triggers have aided the cryptocurrency's advance this year.
First and foremost, the resolution of Ripple's years-long legal battle with the SEC, with the company <a href="https://www.benzinga.com/markets/25/07/46264499/blackrock-xrp-etf-coming-expert-says-sec-case-resolution-clears-way">withdrawing its appeal</a> against the regulator.&nbsp;
Secondly, Ripple <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46230381/xrp-spikes-3-as-ripple-applies-for-us-banking-license">applied for a national banking license </a>with the U.S. Office of the Comptroller of the Currency in a bid for increased legitimacy and regulatory clarity.&nbsp;
Furthermore, issuers such as Grayscale, WisdomTree, and 21Shares filed for various spot <a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46024346/xrp-next-big-etf-bet-polymarket-bettors-predict">XRP exchange-traded funds</a>, adding to optimism about its mainstream adoption.
Price Action:&nbsp; At the time of writing, XRP was exchanging hands at $2.44, up 4,68% 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>. Year-to-date, it has gained 16.46%.
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46327959/xrp-spikes-3-is-a-breakout-imminent">XRP Spikes 3%: Is A Breakout Imminent?</a></li>
</ul>
Photo: Shutterstock

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

Cryptocurrency

$BTC

$ETH

$RLUSD

$SOL

$XRP

XRP Is Now Up 7% Over The Week, Bolstered By Ripple's Partnership With Alexander Hamilton-Founded Bank On New Stablecoin Project

Editor&#8217;s Note: This story has been updated to correct a typo in the headline.
The Education Department will restart interest charges on federal student loans held by 7.7 million borrowers in President Joe Biden's stalled Saving on a Valuable Education, or SAVE, repayment plan, the agency said Wednesday.
What Happened: Interest will <a href="https://www.ed.gov/about/news/press-release/us-department-of-education-continues-improve-federal-student-loan-repayment-options-addresses-illegal-biden-administration-actions">begin</a> accruing August 1, ending a year-long, court-ordered forbearance that had kept balances frozen while the administration defended the program against lawsuits from Republican-led states.
The advocacy group Student Borrower Protection Center <a href="https://protectborrowers.org/wp-content/uploads/2025/07/Memo-SAVE-Forb-Rising-Costs-and-Executive-Action.pdf">estimates</a> that the average enrollee could accrue roughly $3,500 in interest over 12 months, or approximately $300 per month. The department stated that the change is required by a February appeals court ruling that broadened an injunction to cover the entire regulation underpinning SAVE, including its interest subsidy.
Education Secretary Linda McMahon, installed under President Donald Trump, <a href="https://www.washingtonpost.com/education/2025/07/09/trump-ends-interest-subsidy-bidens-student-loan-repayment-plan/">told</a> The Washington Post that Biden had "used so-called ‘loan forgiveness' promises to win votes," but courts found those actions unlawful.
See also: <a href="https://www.benzinga.com/news/politics/25/07/46336115/as-trump-calls-for-3-percentage-point-rate-cut-too-late-jerome-powell-to-resign-june-fed-minutes-show-uncertainty-reigns-supreme">As Trump Calls For 3-Percentage Point Rate Cut, &#8216;Too Late&#8217; Jerome Powell To Resign, June Fed Minutes Show &#8216;Uncertainty&#8217; Reigns Supreme</a>
Borrowers can still postpone payments through the same forbearance, but interest will now grow unless they switch to another income-driven plan — a process slowed by a 2 million-application <a href="https://protectborrowers.org/new-court-filing-reveals-backlog-of-2-million-borrower-payment-plan-applications/">backlog</a> at loan servicers. McMahon urged borrowers to "quickly transition to a legally compliant repayment plan."
Why It Matters: The decision follows <a href="https://www.benzinga.com/news/politics/25/07/46211326/one-big-beautiful-bill-passes-senate-with-jd-vances-tie-breaking-vote-trump-says-its-going-to-go-very-nicely-in-the-house">Trump's signature last week</a> on the sweeping "One Big Beautiful Bill," which shutters SAVE to new enrollees and gives current participants until July 2028 to exit. Consumer advocates called the new interest charges a back-door way to push borrowers out sooner.
Critics also questioned the timing. The February order does not explicitly demand reinstating interest and previous department guidance told SAVE borrowers that interest would remain paused until the legal situation changes.
SAVE, unveiled in 2023, promised lower payments and faster forgiveness but has remained in <a href="https://www.benzinga.com/government/24/07/39849095/appeals-court-blocks-bidens-save-student-loan-debt-relief-plan">legal limbo</a> since a Missouri-led coalition sued, arguing Biden lacked congressional authority for the multibillion-dollar initiative.
Photo Courtesy: Pla2na on Shutterstock.com
Read next: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46335273/elizabeth-warren-says-critical-that-trumps-superhighway-of-crypto-corruption-be-shut-down">Elizabeth Warren Says Critical That Trump&#8217;s &#8216;Superhighway Of Crypto Corruption&#8217; Be Shut Down</a>

Education

General

Trump Administration Ends Interest Freeze, Linda McMahon Says Biden Used Student Loan Forgiveness To 'Win Votes' (CORRECTED)

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has said that the EV giant will expand its Robotaxi service to the San Francisco Bay Area.
What Happened: Responding to a post on social media platform X on Wednesday, Musk said the service will soon expand into the SF Bay Area. "Waiting on regulatory approvals, but probably in a month or two," Musk said in the post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Waiting on regulatory approvals, but probably in a month or two
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1943134090179334207?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote>
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The service, which currently operates in a geofenced area in Austin, will also expand its serviceable locations. "Expanding to a larger service area in Austin this weekend," Musk said in another response to a post on X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Expanding to a larger service area in Austin this weekend
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1943114704274231743?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote>
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Why It Matters: Musk's comments come in as the billionaire's robotaxi ambitions have been under scrutiny in Austin by the NHTSA over <a href="https://www.benzinga.com/markets/tech/25/06/46067027/tesla-robotaxi-faces-nhtsa-scrutiny-over-traffic-violations-during-austin-launch">possible traffic violations</a> during last month's launch event.
Robotaxis have also received criticism following an incident in Austin when a Model Y <a href="https://www.benzinga.com/markets/tech/25/07/46268433/teslas-full-self-driving-tech-under-fire-again-after-robotaxi-nearly-hits-parked-vehicle-report">robotaxi nearly hit</a> a parked vehicle as it dropped a passenger off after finishing the ride.
The FSD or Full Self-Driving technology, a crucial element to the company's robotaxi plans, has received criticism for its camera-based approach, which is in contrast to competitor Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo's LiDAR approach.
However, Tesla also recently had to <a href="https://www.benzinga.com/markets/tech/25/07/46290586/elon-musks-tesla-forced-to-pay-nearly-18000-in-model-y-fsd-arbitration-full-self-driving-was-nowhere-near-autonomous">pay almost $18,000</a> to a Model Y owner in an arbitration case for FSD after the company failed to disclose the safety rating system it uses to unlock supervised FSD for owners.
"It was clear Tesla&#8217;s ‘Full Self-Driving' was nowhere near autonomous," Marc Dobin, a Kirkland, Washington-based lawyer and Model Y owner, who filed the arbitration, said.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="207" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040619/TSLA-JUL-10-2025-1-1-1024x207.jpg" alt="" class="wp-image-979592" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040619/TSLA-JUL-10-2025-1-1-1024x207.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040619/TSLA-JUL-10-2025-1-1-300x61.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040619/TSLA-JUL-10-2025-1-1-768x155.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040619/TSLA-JUL-10-2025-1-1-1536x311.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10040619/TSLA-JUL-10-2025-1-1.jpg 1547w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla offers poor Momentum and Value, while scoring well on the Growth metric and offering satisfactory Quality. For more such insights, sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46335587/tesla-investors-call-for-shareholder-meeting-amid-elon-musk-trump-feud-declining-sales-report">Tesla Investors Call For Shareholder Meeting Amid Elon Musk–Trump Feud, Declining Sales: Report</a></li>
</ul>
Photo Courtesy: Trygve Finkelsen on Shutterstock.com

Elon Musk Says Tesla Will Expand Robotaxi Services To San Francisco Bay Area 'In A Month Or Two'

Analysts from LightShed Partners have suggested that&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) should consider a change in leadership to prioritize product innovation, particularly in the rapidly growing field of artificial intelligence (AI).
What Happened: In a note on Wednesday, the LightShed analysts proposed that Apple might benefit from a new CEO, as reported by&nbsp;<a href="https://www.marketwatch.com/story/should-apple-replace-tim-cook-as-ceo-these-analysts-want-a-dramatic-change-d1e067dd">MarketWatch</a>. The suggestion comes in the wake of the impending departure of Apple&#8217;s Chief Operating Officer, Jeff Williams.
Check out the current price of <a href="https://benzinga.com/quote/aapl" target="_blank" rel="noreferrer noopener">AAPL stock here</a>.
The analysts acknowledge Cook&#8217;s operational expertise but argue that Apple now needs a leader who is more focused on product development. The company &#8220;needs a product-focused CEO,&#8221;&nbsp;states analysts.
They also express doubts about Apple&#8217;s ability to achieve a &#8220;supercycle&#8221; of upgrades and note the company&#8217;s struggles&nbsp;to keep pace in the&nbsp;field of artificial intelligence.
They warned, &#8220;AI&nbsp;will reshape industries across the&nbsp;global economy, and Apple risks&nbsp;becoming one of its casualties.&#8221;
According to Piecyk and Galone, Apple&#8217;s recent attempts to enhance its Siri personal assistant have been disappointing. They also caution that Apple&#8217;s failure to keep up with the AI race could significantly impact the company&#8217;s long-term growth potential.
SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/07/46309766/most-crypto-apps-assume-youre-online-this-one-works-where-the-internet-doesnt" target="_blank" rel="noreferrer noopener">Blockchain Beyond The Smartphone: How This One Reaches The Unconnected &#8211; Benzinga</a>
Why It Matters: This call for a change in Apple&#8217;s leadership follows a series of significant developments within the company. Just a day before the analysts&#8217; note, Apple announced the upcoming retirement of its COO,&nbsp;Jeff Williams, who was once&nbsp;tipped as a <a href="https://www.benzinga.com/markets/tech/25/07/46311533/jeff-williams-once-tipped-as-tim-cooks-successor-to-retire-from-apple">potential successor</a>&nbsp;to Tim Cook. 
This news came amid criticism from the White House trade advisor,&nbsp;Peter Navarro, who <a href="https://www.benzinga.com/markets/tech/25/07/46313502/peter-navarro-slams-apple-ceo-tim-cook-over-slow-production-shift-out-of-china-despite-buying-time-since-trumps-first-term-longest-running-soap-opera-in-silicon-valley">expressed dissatisfaction</a> with Cook&#8217;s&nbsp;reluctance to move Apple&#8217;s production&nbsp;out of China.
These events have sparked discussions about Apple&#8217;s future, with some industry experts, like&nbsp;Dan Ives, urging the company to make strategic moves, such as acquiring&nbsp;Perplexity AI for <a href="https://www.benzinga.com/markets/equities/25/07/46216283/dan-ives-urges-apple-to-make-a-move-saying-that-perplexity-acquisition-is-a-no-brainer-its-a-matter-of-when-and-not-if">its search engine</a>. Amid these debates, the suggestion for a new CEO adds another layer to the ongoing discussions about Apple&#8217;s direction and leadership.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="768" height="153" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10041352/image-109.png" alt="" class="wp-image-979608" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10041352/image-109.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10041352/image-109-300x60.png 300w" sizes="(max-width: 768px) 100vw, 768px" /></figure>
Apple offers poor Momentum and Value, while scoring well on the Quality metric as per <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga's Proprietary Edge Rankings.&nbsp;</a>
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<li>READ MORE: <a href="https://www.benzinga.com/markets/tech/25/07/46336365/apples-data-center-chief-joins-openai-as-sam-altman-jony-ive-team-up-in-6-4-billion-io-deal">Apple&#8217;s Data Center Chief Joins OpenAI As Sam Altman, Jony Ive Team Up In $6.4 Billion &#8216;io&#8217; Deal</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.

Apple Needs 'Product-Focused CEO,' Say Analysts As Tim Cook Faces Heat Over AI Failures And Innovation Slump

Gerber Kawasaki's co-founder, Ross Gerber, has slammed Elon Musk's political ambitions amid the new "America Party" row, as well as the EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Check out the current price of <a href="https://benzinga.com/quote/tsla">TSLA stock here</a>.
What Happened: "I don't know who's joining his political party and I don't know what values it represents, but at this point I don't think anybody is," Gerber said in an interview with Schwab Network on Wednesday.
The investor said Musk's move to start a third political party in the U.S. based on the billionaire's values would be "an abject failure."
"The whole company has been hijacked" by CEO Musk, who holds a 13% stake in Tesla, Gerber said. "The other 87% of Tesla's ownership is not being represented. It's basically, completely ridiculous at this point," the investor said, criticizing the automaker.
Gerber also called Musk's move to announce a third political party "the worst news for Tesla," citing dwindling sales, as well as major improvements needed in the company's FSD tech, as well as robotics.
Gerber even called Tesla a "ship going into the rocks" and that people were "jumping off the ship."
The investor also said that Tesla would need to adapt LiDAR, like Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo, instead of the camera-based system "to have a more precise picture of what's actually happening around" the Robotaxi.
"Elon fundamentally doesn't understand how humans actually work. This is a big problem if the CEO doesn't have emotions," Gerber said.
<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">.<a href="https://twitter.com/GerberKawasaki?ref_src=twsrc%5Etfw">@GerberKawasaki</a> talks all things <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>. He shares concerns regarding CEO Elon Musk starting a political party. Competitively, on the autonomous driving front, he sees Tesla as far behind other companies like <a href="https://twitter.com/search?q=%24GOOGL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOGL</a>&#39;s Waymo. <a href="https://t.co/1rGqCYvEjx">pic.twitter.com/1rGqCYvEjx</a>
&mdash; Schwab Network (@SchwabNetwork) <a href="https://twitter.com/SchwabNetwork/status/1943052545431343578?ref_src=twsrc%5Etfw">July 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The news comes as Tesla and Musk have been on the receiving end of criticism for the billionaire's <a href="https://www.benzinga.com/news/politics/25/06/46186733/elon-musk-staging-a-political-comeback-tesla-ceo-sparks-america-party-buzz-as-he-slams-trumps-insane-spending-bill">return to politics</a>, with over 27 major investors <a href="https://www.benzinga.com/markets/tech/25/07/46335587/tesla-investors-call-for-shareholder-meeting-amid-elon-musk-trump-feud-declining-sales-report">writing to the board</a> to schedule a date for the annual shareholder meeting.
Musk was also under fire for telling Wedbush Securities' analyst and Tesla Bull Dan Ives <a href="https://www.benzinga.com/markets/tech/25/07/46335539/elon-musk-asked-dan-ives-to-shut-up-and-the-tesla-bull-says-thats-cool-heres-why">to "shut up</a>" as the investor had laid down what he described as steps the board could take to salvage the situation.
Meanwhile, Musk has reignited the Jeffrey Epstein <a href="https://www.benzinga.com/news/politics/25/07/46270547/elon-musk-reignites-jeffrey-epstein-client-list-row-adding-fuel-to-the-feud-with-trump">client list debate</a>, expressing discontentment with the lack of arrests made in the case, in what is yet another attack on President Donald Trump as <a href="https://www.benzinga.com/news/politics/25/07/46216023/after-trump-warns-elon-musk-to-close-up-shop-china-rallies-behind-worlds-richest-man-theres-no-need-to-keep-putting-up-with-it">tensions continue to rise</a> between the pair.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="207" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10033950/TSLA-JUL-10-2025-1-1024x207.jpg" alt="" class="wp-image-979537" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10033950/TSLA-JUL-10-2025-1-1024x207.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10033950/TSLA-JUL-10-2025-1-300x61.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10033950/TSLA-JUL-10-2025-1-768x155.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10033950/TSLA-JUL-10-2025-1-1536x311.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10033950/TSLA-JUL-10-2025-1.jpg 1547w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla offers poor Momentum and Value, while scoring well on the Growth metric and offering satisfactory Quality. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Photo courtesy: Shutterstock

Tesla Is 'Basically Hijacked' By Elon Musk, Says Ross Gerber, Calling It 'Completely Ridiculous:' America Party Is The 'Worst News For TSLA'

<h3>Companies Reporting Before The Bell</h3>
• Simply Good Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMPL#NASDAQ">SMPL</a>) is likely to report quarterly earnings at $0.50 per share on revenue of $381.21 million. 
• Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) is projected to report quarterly earnings at $2.03 per share on revenue of $16.18 billion. 
• Tokyo Lifestyle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKLF#NASDAQ">TKLF</a>) is likely to report earnings for its Fiscal Year 2025. 
• Northern Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTIC#NASDAQ">NTIC</a>) is likely to report quarterly earnings at $0.04 per share on revenue of $20.70 million. 
• Byrna Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYRN#NASDAQ">BYRN</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $28.47 million. 
• Helen Of Troy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) is projected to report quarterly earnings at $0.91 per share on revenue of $397.06 million. 
• Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) is estimated to report quarterly earnings at $0.61 per share on revenue of $2.88 billion. 
<h3>Companies Reporting After The Bell</h3>
• E2open Parent Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETWO#NYSE">ETWO</a>) is estimated to report quarterly earnings at $0.04 per share on revenue of $148.92 million. 
• WD-40 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDFC#NASDAQ">WDFC</a>) is likely to report quarterly earnings at $1.40 per share on revenue of $160.60 million. 
• Vista Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIST#NYSE">VIST</a>) is projected to report quarterly earnings at $2.15 per share on revenue of $591.60 million. 
• Frequency Electronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEIM#NASDAQ">FEIM</a>) is estimated to report earnings for its fourth quarter. 
• Levi Strauss (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) is likely to report quarterly earnings at $0.13 per share on revenue of $1.37 billion. 
• Valens Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLN#NYSE">VLN</a>) is estimated to report earnings for its first quarter. 
• Pricesmart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) is likely to report quarterly earnings at $1.09 per share on revenue of $1.31 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

BYRN

ETWO

FEIM

HELE

LEVI

NTIC

PSMT

SMPL

TKLF

VIST

WDFC

Earnings Scheduled For July 10, 2025

Billionaire Bill Ackman said that he was &#8220;bullish&#8221; as the money market funds hit a record, hinting that any rate cuts could direct these monies into the equity markets.
What Happened: The founder and CEO of Pershing Square Capital Management, L.P., emphasized his &#8220;bullish&#8221; view while highlighting an X post by Barchart, which underscored that the money market funds hit a staggering $7.4 trillion as of the most recent data.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bullish <a href="https://t.co/3J2BlUtu6W">https://t.co/3J2BlUtu6W</a>
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1943132743421886792?ref_src=twsrc%5Etfw">July 10, 2025</a></blockquote>
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Ackman&#8217;s stance reflected optimism, suggesting this capital could flood into equities if interest rates drop. This was supported by historical data from 40 years showing that a rate cut follows solid gains for the S&amp;P 500 over one to three years, as highlighted <a href="https://www.forbes.com/sites/johnjennings/2024/10/21/how-the-stock-market-performs-after-federal-reserve-rate-cuts/">by</a> Forbes.
During volatile times, investors increasingly <a href="https://www.benzinga.com/markets/bonds/25/06/46087443/money-market-funds-on-fire-as-902-billion-pours-in-why-these-safe-haven-investments-are-thriving-now">favor money market funds</a> or cash equivalents, a clear sign of heightened caution amid ongoing economic uncertainty and fluctuating interest rate outlooks. &#8211;
However, the Federal Reserve and its Chair Jerome Powell remain unfazed and continue to be in the &#8220;wait-and-see&#8221; mode as the <a href="https://www.benzinga.com/news/politics/25/07/46336115/as-trump-calls-for-3-percentage-point-rate-cut-too-late-jerome-powell-to-resign-june-fed-minutes-show-uncertainty-reigns-supreme">June Fed minutes</a>, released Wednesday, mentioned the words &#8220;uncertain&#8221; and &#8220;uncertainty&#8221; around 28 times. 
The possibility of a tariff-induced inflation has kept some Federal Open Market Committee members on hold, while some participants are ready to start cutting again.
See Also: <a href="https://www.benzinga.com/markets/hedge-funds/25/07/46290114/bill-ackman-bets-over-60-of-pershing-squares-portfolio-in-these-4-stocks-uber-hhh-and-more">Bill Ackman Bets Over 60% Of Pershing Square&#8217;s Portfolio In These 4 Stocks: UBER, HHH And More</a>
Why It Matters: While Ackman sees this as a bullish sign, Chamath Palihapitiya sounded an alarm that the markets were &#8220;<a href="https://www.benzinga.com/markets/25/05/45610672/market-is-risk-off-chamath-palihapitiya-flags-rising-investor-fear-as-money-market-fund-assets-hit-724-trillion">risk-off</a>&#8221; in May, when these funds had scaled $7.24 trillion. 
Meanwhile, Fundstrat&#8217;s Tom Lee said that most of his institutional clients <a href="https://www.benzinga.com/markets/equities/25/07/46260136/tom-lee-says-institutional-investors-hate-this-v-shaped-rally-with-7-trillion-on-sidelines-sees-3-drivers-for-more-gains">&#8220;hate&#8221; the V-shaped recovery</a> from April lows, as over $7 trillion of liquidity parked in the money markets has made the investors wary of the current up move in the stocks. &#8211;
However, his views were aligned with Ackman&#8217;s that once the Fed starts cutting rates, the markets are poised for further upside.
Price Action: U.S. stocks climbed Wednesday, buoyed by Nvidia Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares soaring to an unprecedented $4 trillion market capitalization and a fresh all-time high, pushing the Nasdaq to close at a record high.
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, ended higher on Wednesday. The SPY was up 0.60% at $624.06, while the QQQ advanced 0.71% to $556.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Thursday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 indices were trading lower.
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Photo courtesy: Shutterstock

NVDA

Bill Ackman Cheers Money Market Funds Hitting Record $7.4 Trillion As Jerome Powell Snubs Trump's Rate Cut Demands

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is considering an additional multibillion-dollar investment in Anthropic to deepen its strategic artificial intelligence partnership. 
What Happened: The potential deal would extend Amazon&#8217;s existing $8 billion commitment to the San Francisco-based AI model builder. The Financial Times <a href="https://www.ft.com/content/3e569928-dc0e-4baa-80c3-b51d24facb23">reported</a>, citing sources.
The investment would position Amazon to remain among Anthropic&#8217;s largest shareholders alongside 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>), which has invested over $3 billion in the company. 
Amazon executives view the partnership as a critical bulwark against the Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and OpenAI alliance, which has dominated early AI commercialization efforts <a href="https://www.benzinga.com/markets/tech/25/07/46336365/apples-data-center-chief-joins-openai-as-sam-altman-jony-ive-team-up-in-6-4-billion-io-deal">through a $14 billion investment</a>.
&#8220;We quickly realized that we had many shared goals that were fundamentally critical,&#8221; said Dan Grossman, Amazon&#8217;s vice president of worldwide corporate development. &#8220;The size of the [existing investment] represents our ambition.&#8221;
Amazon&#8217;s &#8220;fair value&#8221; stake in Anthropic is approximately $13.8 billion, according to regulatory filings. The investment structure uses convertible notes with caps preventing either Amazon or Google from owning more than one-third of the company. 
Amazon and Anthropic did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46336365/apples-data-center-chief-joins-openai-as-sam-altman-jony-ive-team-up-in-6-4-billion-io-deal">Apple&#8217;s Data Center Chief Joins OpenAI As Sam Altman, Jony Ive Team Up In $6.4 Billion &#8216;io&#8217; Deal</a>
Why It Matters: The partnership extends beyond financial backing into operational integration. Amazon outlined plans for &#8220;Project Rainier,&#8221; a massive data center initiative in New Carlisle, Indiana, designed to power Anthropic&#8217;s computing needs. The facility will draw 2.2 gigawatts when completed, surpassing Oracle Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) 1.2-gigawatt campus for OpenAI in Texas.
The investment comes as AI competition <a href="https://www.benzinga.com/markets/tech/25/07/46335602/elon-musk-s-xai-launches-grok-4-with-phd-level-ai-debuts-in-300-month-supergrok-tier">intensifies across the technology sector.</a> Elon Musk&#8216;s xAI recently launched Grok 4, claiming &#8220;PhD-level&#8221; capabilities that outperform competitors, including Anthropic&#8217;s Claude models. 
Meanwhile, Perplexity AI launched its Comet browser after Google Chrome rejected its offer to <a href="https://www.benzinga.com/markets/tech/25/07/46335291/google-rejected-perplexitys-request-to-become-a-default-search-engine-option-on-chrome-ai-startup-fires-back-with-comet-browser">become a default search engine option</a>.
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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Startups

Markets

AMZN

ORCL

Amazon May Pour Billions More Into Anthropic As $13.8 Billion AI Bet Grows: Report

President Donald Trump issued a stark warning on Wednesday, saying that the loss of the U.S. Dollar&#8217;s global reserve status would be tantamount to &#8220;losing a major world war.&#8221;
What Happened: &#8220;You ever hear the expression &#8216;the dollar is king?&#8217; The dollar is king. We're going to keep it that way,&#8221; Trump said, while speaking to the media on Wednesday.
However, Thierry Wizman, a global FX and interest rate strategist at Macquarie, believes the shift away from the dollar is already underway, and is happening gradually across financial systems.
&#8220;No, the dollar is not still king,&#8221; Wiseman said, while talking on Bloomberg&#8217;s The Opening Trade on Wednesday, adding that &#8220;There's plenty of indications out there that de-dollarization is taking place.&#8221;
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He pointed to a &#8220;slow drip&#8221; of changes, including declining allocations to the dollar by reserve managers, foreign lenders asking clients to transact in alternative currencies like the Chinese renminbi, and increased diversification by pension funds and private investors.
&#8220;It&#8217;s not staring you in the face, and it&#8217;s a slow drip,&#8221; he says, on why most people haven&#8217;t paid much attention to it, and thus live in denial.
Wiseman noted that institutional investors, including pension funds and semi-official entities, are diversifying their holdings in ways that mark a structural shift in the dollar's dominance. He emphasized that this trend is less about cyclical interest rate differences and more about geopolitical disillusionment and declining U.S. policy credibility.
&#8220;We may have managed chaos, but we certainly don't have ordered liberty anymore,&#8221; he says, referring to the prevailing policy uncertainty and the diminishing stable, rule-based, and predictable order that got foreign investors to trust the U.S. system in the first place.
Asked what could reverse this momentum, Wiseman pointed to the need for renewed U.S. policy stability, trade reengagement, and a reduction in social and fiscal tensions, though he cast doubt on any near-term reversal.
Why It Matters: Despite Trump&#8217;s recent statements, a few market experts and analysts believe he views the Dollar&#8217;s reserve status as &#8220;more of a burden to the U.S. economy than a blessing.&#8221;
David Lubin, a Chatham House expert, says this is all part of a policy push by the Trump Administration to permanently weaken the dollar, to narrow the trade deficit, while encouraging manufacturers to return.
Economist&nbsp;Kenneth Rogoff said last week that <a href="https://www.benzinga.com/markets/macro-economic-events/25/07/46238927/dollar-supremacy-under-threat-despite-a-slowing-china-absolutely-says-this-economist-beijing-is-the-largest-trading-partner-for-half-the-world-and-theyve">China is gaining traction</a> in its bid to dethrone the dollar, and this was despite a slowdown in the domestic Chinese economy. 
&#8220;China doesn&#8217;t have to grow at 7% in order to establish the yuan as more of a currency,&#8221; he said, highlighting the fact that it is already the largest trading partner for more than half of the countries in the world. &#8220;So they&#8217;re there. They&#8217;ve arrived,&#8221; he says.
Price Action: The U.S. Dollar Index (DXY) is up 0.11%, trading at 97.404 on Thursday, against a basket of other currencies. The greenback has, nonetheless, witnessed a steep decline year-to-date, and is currently down 10.27% since the beginning of this year.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="The Dollar Is Not King, Says Macquarie&#039;s Wizman" width="500" height="281" src="https://www.youtube.com/embed/eC0b1Pzv5dg?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>
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Read More: 
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<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46314576/chamath-palihapitiya-shrugs-off-dollars-11-slide-in-worst-half-century-drop-says-decay-continues-without-total-collapse">Chamath Palihapitiya Shrugs Off Dollar&#8217;s 11% Slide In Worst Half-Century Drop, Says &#8216;Decay Continues&#8217; Without Total Collapse</a></li>
</ul>
Photo courtesy: Shutterstock

Global

Economics

Trump Warns Losing Dollar Reserve Status Would Be Like Losing 'A Major World War,' But Analyst Says It's Already Happening: 'The Dollar Is Not Still King'

A North Korean defector residing in South Korea is set to file a lawsuit and criminal complaint against North Korean leader Kim Jong Un for human rights violations.
What Happened: Choi Min-kyung, a North Korean defector, intends to file a lawsuit against Kim Jong-un and four others—including officials from the Ministry of State Security—for violating international criminal law,&nbsp;<a href="https://www.koreatimes.co.kr/foreignaffairs/northkorea/20250709/n-korean-defector-to-file-lawsuits-in-s-korea-against-kim-jong-un-over-human-rights-crimes">reported</a>&nbsp;The Korea Times on Wednesday.
The lawsuit and criminal complaint are being filed by the&nbsp;Database Center for North Korean&nbsp;Human Rights (NKDB) on behalf of Choi. She was repatriated to North Korea in 2008 after fleeing to China in 1997.&nbsp;After her repatriation, Choi alleged that she endured human rights violations—such as sexual abuse, physical assault, and torture—while held in a North Korean detention center.
Choi, who now heads a group representing families of North Korean detainees, hopes the legal action will spotlight the country's human rights abuses. 
The NKDB announced that this will be the first-ever lawsuit filed by a human rights victim born in North Korea. The group also intends to pursue additional action through the U.N. human rights body and the International Criminal Court.
SEE ALSO:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/07/46329995/bitcoin-holds-109000-as-ethereum-xrp-dogecoin-attempt-to-break-higher" target="_blank" rel="noreferrer noopener">Bitcoin Holds $109,000 As Ethereum, XRP, Dogecoin Attempt To Break Higher &#8211; Benzinga</a>
Why It Matters: This lawsuit comes amid growing international scrutiny of North Korea&#8217;s activities, particularly those pertaining to the U.S.. In June, it was revealed that North Korea was secretly infiltrating American businesses via remote jobs, funneling millions into North Korea&#8217;s economy and jeopardizing U.S. data security.
Earlier this month, the U.S. Department of Justice took significant <a href="https://www.benzinga.com/markets/tech/25/07/46189017/us-busts-5-million-north-korean-it-scam-americans-chinese-taiwanese-among-those-arrested">action against </a>North Korea's illicit financial activities, which involved remote IT workers operating within American tech firms. These events add context to the lawsuit, highlighting the ongoing international tension and scrutiny surrounding North Korea.
Furthermore, Kim and North Korea have lately been vocal critics of the Trump administration. In May 2025, North Korea&#8217;s foreign ministry expressed strong disapproval of the U.S. Golden Dome missile defense shield project, terming it a &#8220;very dangerous threatening initiative.&#8221; It also criticized the U.S. strikes on Iran.
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<li>READ MORE: <a href="https://www.benzinga.com/news/25/07/46288703/trumps-letters-to-japan-and-korea-attract-criticism-from-economists-move-demonstrates-complete-lack-of-understanding-of-trade">Trump&#8217;s Letters To Japan And Korea Attract Criticism From Economists: Move Demonstrates &#8216;Complete Lack Of Understanding Of Trade&#8217;</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.

Kim Jong Un To Face Criminal Lawsuit For First Time Ever From A North Korean Defector Over Human Rights Violations

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang is reportedly preparing for a key diplomatic mission to China, where the company plans to launch a scaled-down AI chip compliant with <a href="https://www.benzinga.com/markets/asia/25/07/46266218/us-plans-to-restrict-ai-chip-exports-to-malaysia-thailand-to-curb-diversion-to-china">U.S. export restrictions</a>.
What Happened: The processor is a modified version of its Blackwell RTX Pro 6000 chip and omits advanced features such as high-bandwidth memory and NVLink, <a href="https://www.ft.com/content/e496f80f-1789-46b3-9275-a3f54344047e">reported</a> the Financial Times, citing people with knowledge of the plans.
Nvidia is expected to unveil a new AI chip tailored specifically for the Chinese market as early as September.&nbsp;
Huang is also planning to meet with top Chinese officials, including Premier Li Qiang and Vice Premier He Lifeng, during next week's International <a href="https://www.benzinga.com/markets/tech/25/06/45967009/nvidia-to-appear-at-chinas-top-supply-chain-expo-despite-escalating-us-china-chip-war-beijing-calls-participation-a-vote-of-confidence">Supply Chain Expo</a> in Beijing, the report said.
The schedules have not yet been finalized and are still awaiting approval from the Chinese side.
Read Also:&nbsp;<a href="https://www.benzinga.com/general/social-media/24/03/37879478/humble-beginnings-like-nvidia-reddit-was-founded-inside-a-restaurant" target="_blank" rel="noreferrer noopener">Humble Beginnings: Like NVIDIA, Reddit Was Founded Inside A Restaurant</a>
Why It's Important: The visit underscores <a href="https://www.benzinga.com/25/04/44830406/nvidia-to-take-55-billion-hit-over-china-chip-export-restrictions-but-top-analyst-dan-ives-says-hes-not-overly-concerned-all-part-of-the-high-game-of-poker">Nvidia's attempt to maintain</a> its $17.1 billion China business, which makes up 13% of its total revenue.
"China has one of the largest populations of developers in the world," Nvidia said in a statement to the publication, but denied saying anything about the new chip&#8217;s design. "While security is paramount, every one of those applications should run best on the U.S. AI stack."
Nvidia has changed its financial strategy after U.S. export controls blocked AI chip sales to China, causing a $2.5 billion revenue loss in the first quarter of 2025. Last month, Huang said Nvidia will <a href="https://www.benzinga.com/markets/equities/25/06/45918580/nvidia-drops-china-from-guidance-after-2-5-billion-q1-revenue-hit-ceo-jensen-huang-says-hes-not-">no longer include China</a> in its forecasts due to ongoing restrictions, calling any future China revenue a "bonus."
The company also recorded a $4.5 billion charge from excess inventory after <a href="https://www.benzinga.com/25/05/45644145/nvidia-stock-is-bullish-ahead-of-q1-earnings-but-will-h20-chip-woes-dampen-the-party">halting shipments</a> of its China-specific H20 AI chips.
On Wednesday, the chip giant briefly touched the<a href="https://www.benzinga.com/markets/tech/25/07/46326271/nvidia-breaks-4-trillion-barrier-benzinga-poll-predicted-it-first"> $4 trillion market cap</a> milestone.
Price Action: Nvidia shares are up 17.76% year-to-date and have risen 20.73% over the past 12 months. On Wednesday, the stock gained 1.80%, closing at $162.88, per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings indicate that Nvidia continues to show strong upward momentum in the short, medium and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">Additional performance details can be found here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/10024758/Screenshot-2025-07-10-at-12.15.20%E2%80%AFPM.png" alt="" class="wp-image-979468" /></a></figure>
Photo by gguy via Shutterstock
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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