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Sean Parker, the Napster co-founder and Facebook's (now called Meta Platforms) first president, has reached $3 billion in net worth, as <a href="https://www.forbes.com/profile/sean-parker/">per</a> Forbes.
A teenage hacker turned billionaire entrepreneur, Parker's career spans revolutionary tech ventures, philanthropy, and political donations.
A defining quote from him encapsulates his entrepreneurial mindset: &#8220;Your biggest challenge as an entrepreneur is not concealing your idea from others or keeping your idea secret. It's actually convincing people that you're not crazy and that you can pull it off.&#8221;
Here&#8217;s a look at his journey:
Early Days: From Hacker To Napster
Born in Herndon, Virginia, Parker's journey began with hacking. By his teenage years, he had broken into systems of universities and Fortune 500 companies, though this led to community service after an FBI investigation.&nbsp;
At 19, he <a href="https://www.benzinga.com/news/12/06/2644261/facebook-and-napster-men-to-launch-airtime">co-founded Napster with</a> Shawn Fanning in 1999, a file-sharing platform that revolutionized music consumption. Despite its eventual shutdown after lawsuits, Napster cemented Parker's reputation as a tech innovator.
See Also: <a href="https://www.benzinga.com/markets/24/11/41997920/if-you-dropped-1000-on-spotify-when-joe-rogans-show-became-an-exclusive-heres-how-much-youd-have-today">If You Dropped $1,000 On Spotify When Joe Rogan&#8217;s Show Became An Exclusive, Here&#8217;s How Much You&#8217;d Have Today</a>
Facebook And Beyond
In 2004, Parker <a href="https://www.benzinga.com/media/17/11/10754929/sean-parker-on-social-media-god-only-knows-what-its-doing-to-our-childrens-brai">joined Facebook as its first president</a> at age 24. He was pivotal in securing early investments and shaping the platform's trajectory.
Parker's early 4% stake in Facebook skyrocketed in value after the company's IPO in 2012, solidifying his financial standing.
Despite stepping down in 2005 following a controversial arrest, Parker's influence on Facebook persisted.
Beyond Facebook, Parker's investments have been instrumental in maintaining his fortune. In 2010, he invested $15 million in a 5% stake in Spotify Inc. and <a href="https://www.benzinga.com/news/24/10/41137657/spotify-ceo-daniel-ek-says-he-stays-away-from-sports-competition-with-facebook-co-founder-mark-zucke">served on its board until 2017</a>.
Earlier this year in June, he joined Stability AI, a generative AI company, as executive board chairman, signaling his continued belief in transformative technologies.
Philanthropy And Political Impact
Now 44, Parker channels his wealth into philanthropy and politics. In 2015, he launched the Parker Foundation with $600 million to support life sciences, global health, and civic engagement.
Notable initiatives include the Parker Institute for Cancer Immunotherapy and funding for allergy research at Stanford.
Politically, Parker has donated millions to candidates across party lines and played a key role in the Opportunity Zones provision of the 2017 Jobs Act to boost investment in underprivileged U.S. communities.
Lavish Lifestyle And Cultural Impact
Parker is known for his extravagant lifestyle, including properties worth over $100 million, and his Tolkien-themed wedding in 2013, which cost $4.5 million.
Despite criticism over its ecological impact, the event underscored his penchant for luxury.
Hollywood also immortalized Parker's influence. Justin Timberlake portrayed him in "The Social Network," though Parker dismissed the character as a fictional exaggeration.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia

News

Tech

Sean Parker's Net Worth Touches $3B: From Launching Napster To Becoming Facebook Billionaire, The Story Of Teenage Hacker Turned Entrepreneur

OpenAI CEO Sam Altman has responded to Elon Musk's ongoing criticism of OpenAI&#8217;s ChatGPT's alleged left-wing bias, specifically in the context of the billionaire&#8217;s own AI chatbot, Grok.
What Happened: On Friday, Altman took to X, formerly Twitter, to refute Musk&#8217;s claims of political bias in ChatGPT.
He compared the responses of&nbsp;ChatGPT and Musk&#8217;s AI chatbot,&nbsp;Grok, to a political query, subtly challenging Musk&#8217;s accusations. &#8220;Which&nbsp;one is supposed to be&nbsp;the left-wing propaganda machine again?&#8221;&nbsp;Altman wrote.
The OpenAI CEO then underscored the neutrality of ChatGPT, stating, &#8220;We&nbsp;are proud of how consistently&nbsp;ChatGPT scores as the least biased AI in evals.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/41932289/ai-capabilities-plateauing-say-andreessen-horowitz-founders-echoing-concerns-of-openai-co-founder-ilya-sutskever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Capabilities Plateauing, Say Andreessen Horowitz Founders, Echoing Concerns Of OpenAI Co-Founder Ilya Sutskever</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">we are proud of how consistently chatgpt scores as the least biased ai in evals. that is an important default (and then users should have lots of choice to customize).
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1857571064882368664?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
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Following Altman&#8217;s post, Musk replied by saying, &#8220;Swindly Sam is at it again.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Swindly Sam is at it again … <a href="https://t.co/g86nws9g9h">https://t.co/g86nws9g9h</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857590183215948116?ref_src=twsrc%5Etfw">November 16, 2024</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 Matters: Musk co-founded OpenAI with&nbsp;Altman and Greg Brockman in&nbsp;2015 but left&nbsp;in 2018 due to disagreement over the company&#8217;s direction.
The tech mogul has since&nbsp;filed a lawsuit against OpenAI,&nbsp;accusing it of prioritizing commercial interests over public good and&nbsp;attempting to undermine competitors like&nbsp;his own company xAI.
In September earlier this year, Musk expressed his displeasure over&nbsp;reports about <a href="https://www.benzinga.com/news/24/09/41039287/elon-musk-isnt-pleased-that-sam-altman-likely-to-get-7-stake-after-chatgpt-parents-planned-for-profi">OpenAI&#8217;s transition to a for-profit entity</a>, which could potentially give Altman a 7% stake in the company.
Despite their strained relationship, Altman acknowledged Musk&#8217;s early contribution to <a href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford">OpenAI in an interview</a> earlier this month. The OpenAI CEO called Musk&#8217;s early contribution &#8220;very helpful.&#8221;
OpenAI&#8217;s valuation soared to $157 billion in October, following a <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">funding round</a> that secured more than $6.5 billion. Meanwhile, Musk&#8217;s xAI fetched a $24 billion valuation in May after securing <a href="https://www.benzinga.com/news/24/05/39025708/elon-musk-cheers-funding-after-xai-secures-6b-from-sequoia-andreessen-horowitz-saudi-prince-alwaleed">$6 billion in a funding round</a>.
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>.
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<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

OpenAI Co-Founders, Now Rivals Sam Altman And Elon Musk Clash Over ChatGPT And xAI's Grok Chatbots Again

Jake Paul, a YouTuber-turned-boxer, defeated boxing legend Mike Tyson in the <a href="https://www.benzinga.com/news/24/11/42017511/netflix-streams-mike-tyson-vs-jake-paul-the-fight-everyones-talking-about">first live boxing event</a> hosted by Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
What Happened: The event took place at the AT&amp;T&nbsp;Stadium in Arlington, Texas, on&nbsp;Friday, where Paul, 27, won over 58-year-old Tyson&nbsp;in an eight-round heavyweight match&nbsp;via unanimous decision.
The match,&nbsp;sanctioned by the Texas Department&nbsp;of Licensing and Regulation, saw both fighters wearing 14-ounce gloves, a deviation from the standard 10-ounce gloves typically used in heavyweight fights.
The judges&#8217; scores were overwhelmingly in Paul&#8217;s favor, with tallies of 80-72, 79-73, and 79-73.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41963342/elizabeth-warrens-sarcastic-take-on-doges-split-leadership-gets-slammed-by-elon-musk-unlike-you-neither-of-us-are-being-paid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren&#8217;s Sarcastic Take On DOGE&#8217;s Split Leadership Gets Slammed By Elon Musk</a>
The fight was initially scheduled for July 20 but was postponed due to Tyson requiring medical attention&nbsp;for an ulcer flareup.
Tyson last competed professionally in 2005 but returned to the ring in a notable exhibition bout against Roy Jones Jr. in 2020, which concluded in a split draw.
Tensions escalated during the weigh-in when Tyson struck Paul.
Why It Matters: This event is a <a href="https://www.benzinga.com/news/24/11/42017511/netflix-streams-mike-tyson-vs-jake-paul-the-fight-everyones-talking-about">significant milestone for Netflix</a> in its endeavor to expand into live sports content, supplementing its existing portfolio of&nbsp;live comedy stand-ups, award shows,&nbsp;and special events.
The streaming giant currently has over 282 million global paid subscribers, with its ad-supported plan recently reaching 70 million subscribers.
Last month, Netflix reported strong third-quarter financial results. The <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">company&#8217;s revenue was $9.825 billion</a>, a 15% increase year-over-year, beating the Street consensus estimate of $9.769 billion.
This successful foray into live sports content could potentially boost Netflix&#8217;s subscriber base and revenue in the future.
Price Action: Netflix shares ended Friday's trading session down 1.57%, closing at $823.96. In after-hours trading, the stock edged up slightly to $825.50 as of this writing, according to&nbsp;<a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Netflix

Entertainment

Sports

NFLX

Mike Tyson Vs. Jake Paul: Netflix's Explosive Boxing Event Ends With Paul's Victory

Cryptocurrency enthusiasts are closely watching as both Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) near critical buying levels, according to renowned analyst Michael van de Poppe.
What Happened: Van de Poppe has identified that Bitcoin and Ethereum are approaching levels where purchasing on dips could prove beneficial.
Van de Poppe stressed the significance of &#8220;dip buying&#8221; for Bitcoin, which is currently trading at $89,250. He pointed out that Bitcoin is nearing its first major point of interest for traders.
Meanwhile, Ethereum, priced at $3,040, is also nearing an optimal entry point.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dip buying, that&#39;s what we want with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. Getting close to the first point of interest, and, in the meantime, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is getting close towards an optimal entry as well. <a href="https://t.co/H5jEp4QHZA">pic.twitter.com/H5jEp4QHZA</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1857340263305281936?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
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"Dip buying, that's what we want with Bitcoin. Getting close to the first point of interest, and, in the meantime, ETH is getting close towards an optimal entry as well."
"The general plan for the upcoming period is to buy the dip."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The general plan for the upcoming period is to: &#8211; Buy the Dip. It&#39;s as easy as it is. <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are likely breaking out left and right in the upcoming weeks and you&#39;d want to maximize that through buying those 20-50% dips.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1857128111865045060?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41987257/elon-musks-hedgehog-meme-coin-shrub-outpaces-dogecoin-shiba-inu-gains-surges-3000-in-a-week?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Hedgehog Meme Coin &#8216;SHRUB&#8217; Outpaces Dogecoin, Shiba Inu Gains, Surges 3,000% In A Week</a>
The analyst also highlighted opportunities in other altcoins, advising traders to watch for entry points in these digital assets in the coming weeks.
Van de Poppe&#8217;s strategy for the near future involves buying dips, with altcoins expected to see significant breakouts.
He recommended maximizing potential gains by purchasing altcoins during 20-50% dips, allowing traders to capitalize on anticipated market movements in the cryptocurrency sector.
Why It Matters: The cryptocurrency market has been experiencing fluctuations, with recent events adding complexity to the trading landscape. Earlier this week, <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41998395/bitcoin-ethereum-dogecoin-take-a-u-turn-as-jerome-powells-statements-dampen-rate-cut-expectations-analytics-firm-explains-why-btc-bull-market-has-not-yet-ended">Federal Reserve Chair Jerome Powell&#8217;s remarks</a> dampened hopes for rate cuts, causing Bitcoin to dip below $88,000 after initially surpassing $91,000. Ethereum also saw a decline, dropping from $3,240 to $3,040.
Despite these setbacks, optimism remains. On November 15, Ark Invest's Cathie Wood projected Bitcoin&#8217;s price <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42019038/bitcoin-to-hit-up-to-1-5-million-by-2030-says-cathie-wood">could reach up to $1.5 million</a> by 2030, citing regulatory relief and growing institutional interest.
Additionally, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41930918/trumps-high-inflation-regime-will-weaken-the-dollar-and-push-bitcoin-to-1m-says-arthur-hayes-get-long-and-stay-long">Arthur Hayes</a> suggested that policies under President-elect Donald Trump might weaken the dollar, boosting Bitcoin&#8217;s value.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Analyst Color

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

Cryptocurrency

Markets

$BTC

$ETH

Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can 'Buy The Dip'

Cathie Wood, CEO of ARK Invest, has publicly backed Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk's appointment to lead the <a href="https://www.benzinga.com/topic/department-of-government-efficiency">Department of Government Efficiency (DOGE)</a>.
What Happened:&nbsp;In an <a href="https://www.cnbc.com/video/2024/11/15/watch-cnbcs-full-interview-with-ark-invest-ceo-cathie-wood.html">interview</a> with CNBC on Friday, Wood said that Musk's understanding of technology and data will be key in his new role at DOGE.
DOGE, named after the cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), aims to minimize waste, eliminate unnecessary regulations, and reorganize agencies to enhance efficiency.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42010539/whats-going-on-with-palantir-technologies-stock-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Palantir Technologies Stock Today?</a>
Wood stated that Musk's companies, including X, formerly Twitter, Neuralink, and SpaceX, gather vast amounts of data, putting him in a unique position to improve government operations.
&#8220;The way we're looking at this is, Elon understands we are at the threshold of a convergence among many technologies,&#8221; she stated.
Adding, &#8220;AI being at the center of it, and proprietary data is winning. So he has more proprietary data from all of these companies than I think any other CEO.&#8221;
Musk, who was appointed by President-elect Donald Trump, will spearhead the commission aimed at reducing the U.S. federal budget, to cut up to $2 trillion.
Vivek Ramaswamy, a former Republican primary candidate, will co-direct the group with Musk.
Why It Matters:&nbsp;On Thursday, the official X, formerly Twitter, account of DOGE called for high-IQ candidates willing to <a href="https://www.benzinga.com/news/24/11/41998717/elon-musk-and-vivek-ramaswamy-are-looking-for-high-iq-small-government-revolutionaries-who-are-willing-to-put-in-80-hours-at-doge">work 80+ hours a week</a> to streamline government spending and cut bureaucracy.
This criterion is similar to Musk's well-known 2022 late-night email to Twitter employees, where he encouraged them to be "extremely hardcore" and commit to "long hours at high intensity."
However, analysts have warned that Musk&#8217;s efficiency plans should not be underestimated, but it will <a href="https://www.benzinga.com/news/24/11/41961033/gene-munster-says-elon-musks-doge-efficiency-plans-should-not-be-underestimated-but-warns-itll-likely-take-many-years-to-achieve-2-trillion-in-government-spending">likely take many years</a> to achieve $2 trillion in government spending cuts.
Trump has previously stated that the work of the DOGE department is expected to be completed by July 4, 2026, at the latest.
Price Action: Dogecoin is currently priced at $0.378, reflecting a 4.14% rise in the last 24 hours. However, its trading volume has dropped by 37.06%, reaching $10.12 billion as of this writing.
Tesla shares closed Friday's trading up 3.07%, ending at $320.72. In after-hours trading, the stock saw a slight increase, reaching $320.74 at the time of writing, according to&nbsp;<a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: World Economic Forum

Politics

Media

$DOGE

TSLA

Cathie Wood Backs Elon Musk's $2 Trillion DOGE Initiative, Says Tesla CEO's Access To 'Proprietary Data' And AI Gives Him An Edge

The United States has agreed to provide up to $6.6 billion in direct funding to Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to build advanced chip facilities in the U.S.
The deal aims to enhance domestic semiconductor production and bolster national security by reducing reliance on foreign suppliers, Barron's <a target="_blank" href="https://www.barrons.com/news/us-finalizes-up-to-6-6-bn-funding-for-chip-giant-tsmc-65252814" rel="noreferrer noopener">reports</a>.
The Biden administration announced that Taiwan Semiconductor's investment will attract $65 billion in private capital to establish three state-of-the-art plants in Arizona.
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The announcement comes just before President-elect Donald Trump assumes office. Trump had previously attacked Taiwan for allegedly undermining the U.S. chip industry and <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41845483/taiwan-semiconductor-us-expansion-plans-unfazed-by-trump-win-report" rel="noreferrer noopener">criticized the U.S. Chips Act</a>.
The first of Taiwan Semiconductor's facilities will likely commence operations by early 2025, focusing on producing cutting-edge logic chips. These chips will power next-generation technologies, including 5G/6G smartphones, autonomous vehicles, and AI applications.
Early production at the Arizona plant reportedly matches the quality of Taiwan Semiconductor's facilities in Taiwan, showcasing <a target="_blank" href="https://www.benzinga.com/government/24/10/41545709/usa-scores-big-win-taiwan-semiconductor-arizona-plant-sees-good-production-yields" rel="noreferrer noopener">strong initial yields</a>.
Commerce Secretary Gina Raimondo told Barron's the importance of manufacturing these advanced chips domestically, emphasizing their role in AI, quantum computing, and military hardware.
The initiative aims to mitigate risks associated with overseas supply chains by producing these chips on U.S. soil, addressing a critical national security concern.
Trending: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>
In addition to the direct funding, the U.S. government is extending up to $5 billion in proposed loans to support Taiwan Semiconductor's Arizona project.
The investment will likely generate approximately 6,000 direct manufacturing jobs. A senior U.S. official told Barron's that at least $1 billion of the allocated funding could be distributed to Taiwan Semiconductor this year, contingent on meeting specific milestones.
Meanwhile, Taiwan Semiconductor remains focused on consolidating its moat while diversifying its footprint beyond Taiwan as global governments dole out attractive subsidies.
The contract chipmaker has <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/24/11/41951575/taiwan-semi-boosts-advanced-chipmaking-with-record-euv-expansion-grabs-56-global-share" rel="noreferrer noopener">ramped up its</a> deployment of extreme ultraviolet (EUV) lithography systems, a vital technology in semiconductor production, even with the substantial expense involved.
Each EUV machine costs more than $100 million, making them some of the most costly assets in the chip manufacturing sector.
Industry analysts suggest that TSMC has significantly boosted its EUV capacity, increasing its share of global EUV installations from 50% in 2020 to 56% by 2023.
In Asia, Japan has also earmarked over $64.9 billion to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41939018/japan-increases-semiconductor-funding-as-us-trade-policies-pressure-taiwan-semiconductor" rel="noreferrer noopener">boost the semiconductor and AI</a> sectors. Taiwan Semiconductor is eyeing a second facility in Japan's Kumamoto region, considering a $13.5 billion investment after its first $8.6 billion wafer factory there.
Additionally, the company intends to establish a third advanced chip plant valued at $20 billion in Kumamoto to produce 3-nanometer chips.
Taiwan Semiconductor stock is up 86% year-to-date.
Price Actions: TSM stock is down -2.57% at $186.01 at the last check on Friday.
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Image via Shutterstock

Government

Regulations

Just Before Biden's Term Ends, Taiwan Semiconductor Lands $6.6 Billion in US Funding to Build Advanced Chip Plants

Elon Musk has expressed gratitude as major brands, including IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), Comcast (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), and Warner Bros.&nbsp;Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), resumed advertising on X, formerly Twitter.
What Happened: On Friday, Musk took to X and expressed his appreciation to companies for recommencing advertising on X following a <a href="https://www.benzinga.com/news/23/12/36056462/elon-musks-standoff-with-apple-disney-and-other-big-advertisers-forces-x-to-turn-to-smaller-ones">year-long boycott due to brand safety concerns</a>.
This information was shared by social media personality Mario Nawfal on X.
Musk responded to Nawfal's post,&nbsp;saying,&nbsp;&#8220;Just want to say that&nbsp;we super appreciate&nbsp;major brands resuming advertising on&nbsp;our platform!&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Taylor Swift Fans Abandon Elon Musk&#8217;s X For Bluesky, Says Report: How Trump&#8217;s Election Victory Triggered Swifties Uprising</a>
He also expressed&nbsp;his gratitude to&nbsp;X CEO Linda Yaccarino and&nbsp;the entire X team&nbsp;for restoring&nbsp;advertisers&#8217; confidence.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just want to say that we super appreciate major brands resuming advertising on our platform! Thanks <a href="https://twitter.com/lindayaX?ref_src=twsrc%5Etfw">@lindayaX</a> and the whole &#120143; team for your hard work in restoring confidence in our platform and ensuring that advertising content only appears where advertisers want it shown. <a href="https://t.co/e508KrMo9g">https://t.co/e508KrMo9g</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857471850676367646?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Why It Matters: In September, it was reported that more companies were <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">considering pulling ads from X</a> next year due to concerns that their <a href="https://www.benzinga.com/news/23/11/35842015/ibm-pulls-adverts-from-elon-musks-x-following-antisemitic-content-allegations">brands could be harmed by the platform&#8217;s content</a>.
A Kantar survey also&nbsp;revealed that 26% more marketers&nbsp;plan to decrease their spending&nbsp;on X ads in 2025,&nbsp;marking the largest recorded decline&nbsp;in ad spending for any major global platform.
However, following the U.S. 2024 Presidential election, it was reported that some advertisers are contemplating a return to X to gain favor with Musk and President-Elect Donald Trump.
This development also comes as&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.benzinga.com/general/social-media/24/11/41963996/mark-zuckerbergs-meta-eyes-2025-to-introduce-ads-on-threads-as-elon-musks-x-loses-favor-with-major-brands-report">plans to introduce ads</a> on its Threads early next year, potentially capitalizing on X&#8217;s loss of favor with major brands.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

CMCSA

IBM, Disney And Other Large Advertisers Return To Elon Musk's X After A Year-Long Boycott: 'We Super Appreciate'

The global plant-based Active Pharmaceutical Ingredient (API) market is projected to grow at a steady pace, reaching a valuation of $52.1 billion by 2034, according to a <a href="https://www.futuremarketinsights.com/reports/plant-based-api-market">new report</a> by Future Market Insights. The industry is expected to expand at a Compound Annual Growth Rate (CAGR) of 5.6%, fueled by rising demand for natural and sustainable pharmaceutical solutions, including <a href="https://www.benzinga.com/markets/psychedelics">psychedelics</a> and <a href="https://www.benzinga.com/topic/cannabis-products">cannabis-derived</a> compounds.
<h3 class="wp-block-heading">Rising Demand For Psychedelic And Cannabis-Based Ingredients</h3>
A significant driver of market growth is the increasing use of psychoactive and plant-derived substances in modern pharmacology. Psychedelics like <a href="https://www.benzinga.com/topic/psilocybin">psilocybin</a> and cannabinoids such as <a href="https://www.benzinga.com/topic/cbd">CBD</a> and <a href="http://v">THC</a> are gaining attention for their <a href="http://v">therapeutic potential</a> in mental health and oncology. The U.S., a key player in the market, is leveraging biotechnological advances like <a href="https://www.genome.gov/genetics-glossary/CRISPR#:~:text=CRISPR%20(short%20for%20%E2%80%9Cclustered%20regularly,editing%20systems%20found%20in%20bacteria.">CRISPR</a> and synthetic biology to scale production of these high-demand APIs, contributing to a 4.2% CAGR.
"The global shift toward sustainable, plant-based solutions reflects both consumer interest in natural medicine and the pharmaceutical industry's focus on alternative therapies," said Sabyasachi Ghosh, associate VP at Future Market Insights. The market&#8217;s rapid expansion underscores the increasing acceptance of psychedelics and cannabis as mainstream pharmaceutical ingredients.
<h3 class="wp-block-heading">Therapeutic Applications And Key Botanical Sources</h3>
Plant-based APIs are harnessed from well-documented medicinal plants such as cannabis, ginseng, turmeric and cinchona. These natural sources contain bioactive compounds like flavonoids, terpenes and alkaloids, offering various therapeutic benefits. Major applications of plant-based APIs include pain management, anti-inflammatory treatments and oncology therapies.
The incorporation of cannabinoids, particularly CBD and THC, into pharmaceutical formulations is reshaping the landscape of pain and anxiety treatments. Similarly, psychoactive compounds from plants like Syrian rue and Psilocybe mushrooms are being explored for treating mental health disorders like depression and PTSD.
<h3 class="wp-block-heading">Regional Growth And Market Segmentation</h3>
The report highlights robust growth in Asian markets, with India leading at an 8.8% CAGR, followed closely by China (8.7%) and South Korea (8.6%). These regions are investing heavily in agricultural biotechnologies and expanding their capabilities in plant-based pharmaceutical production.
The market segments by product type, covering alkaloids, cannabinoids, <a href="https://www.benzinga.com/markets/cannabis/24/05/39064102/cannabis-terpenes-alleviate-chemo-induced-neuropathic-pain-study-shows-added-benefits-with-morph">terpenes</a>, flavonoids and polyphenols. It also includes API forms like extracts, powders and resins from botanicals such as opium poppy, turmeric, ginseng and cannabis.
<h3 class="wp-block-heading">Competitive Landscape: Psychedelics And Cannabis Companies Lead the Charge</h3>
The plant-based API sector is experiencing intense competition, particularly in the cannabis and psychedelics segments. Companies are rapidly scaling production and forming key partnerships to meet the rising demand for plant-based, pharmaceutical-grade ingredients.
Recent developments include Bright Green Corporation's agreement to supply <a href="https://www.benzinga.com/24/02/37292778/dea-clears-this-nasdaq-traded-plant-touching-firm-to-research-and-produce-schedule-i-and-ii-plant-ba">DEA-approved marijuana</a> extracts and psychedelic compounds to Benuvia Operations. Indena's authorization from Italian regulators to produce pharmaceutical-grade CBD further illustrates the expanding global footprint of cannabis-derived APIs.
Key players in the industry include the Illinois-based Abbott (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>), New Mexico&#8217;s Bright Green Corporation, Indena S.p.A., headquartered in Milan, Italy, Alchem International Pvt. Ltd., based in India, Israeli Teva Pharmaceutical Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>); Roquette Frères, based in Lestrem, France; and Sami-Sabinsa Group, based in New Jersey.
<h3 class="wp-block-heading">The Future Of Plant-Based APIs: Sustainable And Psychedelic Solutions</h3>
The growing demand for sustainable, natural treatments will likely position the plant-based API market at the forefront of global healthcare. As pharmaceutical companies continue to explore the therapeutic potential of bioactive compounds from plants, the integration of psychedelics and cannabis-derived APIs is likely to play a pivotal role in shaping the next decade of medicine.
Cover image made with AI

Cannabis

Market Summary

Psychedelics

Global

TEVA

Plant-Based API Market Poised To Hit $52 Billion By 2034, Driven By Psychedelics And Cannabinoids

SpaceX, under the leadership of Elon Musk, is reportedly preparing to initiate a tender offer next month.
What Happened: SpaceX's tender offer will allow the sale of existing shares at $135 each, valuing the company at over $250 billion, as reported by Reuters.
Musk&#8217;s ambition for human Mars exploration could become a national priority under Trump&#8217;s administration. The NASA Artemis program, which intends to use SpaceX&#8217;s Starship for lunar missions as a precursor to Mars expeditions, is anticipated to shift focus towards Mars with uncrewed missions targeted this decade.
SpaceX might push for relaxed regulations on worker and participant safety in private space flights under Trump&#8217;s presidency.
An investigation last year revealed over 600 worker injuries at SpaceX facilities, <a href="https://www.benzinga.com/news/24/04/38374353/elon-musks-spacex-injury-rates-exceed-industry-average-again-raising-concerns-for-nasa-and-clients-r">exceeding the industry average</a>, raising concerns about the company&#8217;s adherence to safety standards.
See Also: <a href="https://www.benzinga.com/trading-ideas/24/11/41985486/if-tesla-stock-hits-all-time-highs-in-2025-will-it-be-driven-by-trump-musk-relationship-benzinga-readers-say-this?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Tesla Stock Hits All-Time Highs In 2025, Will It Be Driven By Trump-Musk Relationship?</a>
Why It Matters: SpaceX&#8217;s valuation has seen a significant increase over the past year. In June, the company was reportedly set for a <a href="https://www.benzinga.com/news/24/06/39516906/elon-musks-spacex-set-for-record-210b-valuation-in-tender-offer-but-still-valued-less-than-tiktok-re">record $210 billion</a> valuation in a tender offer, surpassing its previous $200 billion estimate. This was driven by substantial investor demand.
However, Musk has <a href="https://www.benzinga.com/news/24/06/39519229/elon-musk-dismisses-rumors-of-spacex-ipo-as-it-reportedly-seeks-210b-valuation-pressure-for-short-te">previously dismissed</a> the possibility of a SpaceX initial public offering (IPO), citing the intense pressure for short-term results faced by publicly listed companies.
SpaceX&#8217;s dominance in the space sector is further highlighted by its control over <a href="https://www.benzinga.com/news/24/09/40869627/elon-musk-now-controls-two-thirds-of-the-planets-satellites-and-spacex-is-just-getting-started-with">two-thirds of the planet&#8217;s satellites</a>, thanks to the rapid expansion of its Starlink satellite network.
As of September, SpaceX&#8217;s Starlink service <a href="https://www.benzinga.com/news/24/09/41061483/spacexs-starlink-now-connects-4m-customers-with-more-than-6k-operational-satellites-adds-a-million-u">connects over 4 million customers</a> worldwide, demonstrating the company&#8217;s significant impact on global connectivity.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPACE

Startups

SpaceX To Launch Tender Offer, Valuing Company At Over $250 Billion: Report

A major cyber-espionage operation linked to Chinese intelligence has reportedly infiltrated T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and other telecom giants, including rivals AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) <a href="https://www.benzinga.com/news/24/10/41200026/chinese-hackers-breach-at-t-verizon-networks-in-major-wiretap-data-theft-putting-us-national-securit">suffered a similar breach</a>, raising significant national security concerns.
What Happened: T-Mobile&#8217;s network was compromised in a large-scale cyber-espionage operation attributed to Chinese hackers, according to a <a href="https://www.wsj.com/politics/national-security/t-mobile-hacked-in-massive-chinese-breach-of-telecom-networks-4b2d7f92">report</a> by The Wall Street Journal.
This breach, which also affected other U.S. and international telecom companies, targeted cellphone communications of high-value intelligence targets.
The extent of the data compromised from T-Mobile customers remains uncertain.
"T-Mobile systems and data have not been impacted in any significant way, and we have no evidence of impacts to customer information," said a T-Mobile spokesperson, according to the report.
See Also: <a href="https://www.benzinga.com/news/global/24/11/41939983/microsoft-president-warns-beijings-tech-progress-is-catching-up-with-the-west-people-who-dont-go-to-china-too-often-assume-theyre-behind?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft President Warns Beijing&#8217;s Tech Progress Is Catching Up With The West</a>
The breach, linked to the Salt Typhoon group, is considered historic in its scope and severity by some U.S. officials. AT&amp;T, Verizon, and Lumen Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) were also reportedly affected.
Hackers exploited vulnerabilities in Cisco Systems routers and possibly used AI or machine learning to enhance their operations, accessing cellphone lines of senior U.S. government and political figures.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This breach is part of a series of cyberattacks attributed to Chinese hackers, raising alarms about national security.
In April, FBI Director Christopher Wray warned about <a href="https://www.benzinga.com/news/24/04/38330156/fbi-chief-warns-xi-jinpings-ccp-linked-chinese-hackers-are-planning-to-physically-wreak-havoc-on-us">China&#8217;s potential to disrupt U.S. infrastructure</a>, highlighting the targeting of sectors like telecommunications, energy, and water.
In May, a <a href="https://www.benzinga.com/news/24/05/38659657/major-hacking-incident-exposes-data-of-military-personnel-in-uk-ministry-of-defence-breach-is-china">major hacking incident</a> exposed data of U.K. military personnel, with China suspected as the perpetrator.
The recent breach of T-Mobile and other telecom giants underscores the ongoing threat posed by state-sponsored cyber-espionage, emphasizing the need for heightened cybersecurity measures.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

LUMN

TMUS

T-Mobile Hit By Chinese Hackers After Rivals AT&T, Verizon Suffer Breach: Report

ARC Global Investments, a major investor in&nbsp;Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), has drastically reduced its stake in the company.
What Happened: According to a regulatory filing on Friday, ARC Global and its manager, Patrick Orlando, now hold a mere 0.01% stake in Trump Media, the parent company of&nbsp;Truth Social.
This is a significant decrease from their previous holding of over 5% or more than&nbsp;11 million shares in September.
Orlando, the former CEO of Digital World Acquisition Corp., the SPAC that took Trump Media public, was <a href="https://www.benzinga.com/news/23/03/31451246/trump-linked-spac-digital-world-boots-out-ceo-as-it-looks-to-bring-in-new-management-to-tackle-unpre">removed from his role</a> before the deal was completed.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/11/41927985/bitcoin-ethereum-consolidate-dogecoin-surges-as-election-rally-takes-a-breather-analyst-says-pullback-typical-for-healthy-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback &#8216;Typical&#8217; For Healthy Market</a>
In July, the U.S. Securities and Exchange Commission (SEC) sued Orlando, <a href="https://www.benzinga.com/news/24/07/39829953/trump-linked-digital-worlds-former-ceo-sued-by-sec-for-securities-fraud">alleging securities fraud</a> for false and misleading statements as CEO of Digital World Acquisition.
In September, a Delaware judge ruled that Trump Media had violated an agreement with ARC Global. The ruling stated that the fund should receive over&nbsp;half a million additional shares&nbsp;before the expiration of&nbsp;a lock-up on insider sales.
Why It Matters: President-elect Donald Trump&nbsp;currently holds&nbsp;a <a href="https://www.benzinga.com/markets/equities/24/11/41878254/trumps-djt-surges-26-in-past-month-boosting-investors-wealth-by-over-1b-as-ex-president-returns-to-white-house-for-a-second-term">57% stake in&nbsp;Trump Media</a>.
On Election Day, Trump Media reported a 6% year-over-year decrease in its <a href="https://www.benzinga.com/news/earnings/24/11/41760961/djt-stock-volatile-on-election-day-donald-trumps-media-company-reports-q3-earnings-growth-initiativ">third-quarter net sales</a>, which stood at $1.01 million, with all revenue coming from advertising on the Truth Social platform.
Earlier this month, Trump announced that he had no plans to <a href="https://www.benzinga.com/media/24/11/41853221/trump-says-he-wont-sell-trump-media-stock">sell his stake in the Truth Social parent</a>, causing the company&#8217;s stock to soar.
Meanwhile, on Wednesday, it was reported that <a href="https://www.benzinga.com/general/social-media/24/11/41993328/trump-media-insiders-sell-more-than-16-million-in-djt-stock">Trump Media&#8217;s CFO</a> and two other insiders sold millions of dollars worth of shares following the election.
Price Action: DJT shares ended Friday up 4.11%, closing at $28.10. However, in after-hours trading, the stock dipped 0.57% to $27.94 at the time of writing, according to <a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Major Investor In Trump Media Offloads Most Of Its Stake In DJT Stock

Elon Musk&#8217;s artificial intelligence venture, xAI, is reportedly in the process of raising up to $6 billion. The funds are intended for purchasing 100,000 Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
What Happened: xAI's latest funding round is expected to close early next week, as reported <a href="https://www.cnbc.com/2024/11/15/elon-musks-xai-raising-up-to-6-billion-to-purchase-100000-nvidia-chips-for-memphis-data-center.html">by</a> CNBC on Friday. It includes $5 billion from Middle Eastern sovereign funds and an additional $1 billion from other investors. Some of these investors may be looking to increase their stakes.
This fundraising would value Musk's AI startup at $50 billion, more than doubling the $24 billion valuation in its <a href="https://www.benzinga.com/news/24/05/39025708/elon-musk-cheers-funding-after-xai-secures-6b-from-sequoia-andreessen-horowitz-saudi-prince-alwaleed">previous round of funding in May</a>.
The chips are crucial for the new Memphis supercomputer, which will support Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Full Self-Driving (FSD) technology.
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.
xAI, launched in July 2023, aims to &#8220;understand the true nature of the universe,&#8221; according to its website.
Last year, xAI introduced a chatbot named Grok, inspired by &#8220;The Hitchhiker&#8217;s Guide to the Galaxy.&#8221; The chatbot was designed to compete with OpenAI&#8217;s ChatGPT, Google&#8217;s Gemini, and Anthropic&#8217;s Claude.
See Also: <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Taylor Swift Fans Abandon Elon Musk&#8217;s X For Bluesky, Says Report</a>
Why It Matters: Earlier this year, <a href="https://www.benzinga.com/news/24/05/39027735/elon-musks-xai-raises-6b-heres-where-it-stands-against-openai-anthropic-and-other-ai-rivals">xAI raised $6 billion</a> in its Series B funding round, catapulting its valuation to $24 billion.
This positioned xAI among the world&#8217;s most valuable AI startups, alongside giants like Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI and Anthropic. Despite this, xAI is not yet the largest AI startup in terms of valuation.
The <a href="https://www.benzinga.com/news/24/06/39199007/elon-musks-xai-to-take-on-tech-giants-microsoft-google-and-openai-with-planned-memphis-supercomputer">planned Memphis supercomputer</a>, a key component of xAI&#8217;s strategy, is set to enhance its AI capabilities. The project, located at a former manufacturing site, is awaiting approval from local authorities. Discussions with city officials began in March, underscoring the competitive nature of securing such high-profile projects.
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/media/24/11/41964846/openais-operator-ai-agent-will-perform-tasks-like-coding-travel-booking-and-more-launch-expected-in-january-next-year-report">OpenAI&#8217;s &#8216;Operator&#8217; AI Agent Will Perform Tasks Like Coding, Travel Booking And More</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: Shutterstock

MSFT

NVDA

Elon Musk's xAI Seeks $6B At $50B Valuation To Acquire 100K Nvidia Chips For Memphis Data Center

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

BJDX

SMST

LIFW

SMCX

LIFWW

Numinus Wellness Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NUMIF#OTCQX">NUMIF</a>), a leader in <a href="https://www.benzinga.com/topic/psychedelic-assisted-therapies">psychedelic-assisted mental health care</a>, has <a href="https://www.investors.numinus.com/news/news-details/2024/Numinus-Wellness-Announces-Sale-of-Clinics-and-Unique-Data-Partnership-to-Increase-Access-to-Mental-Health-Care/default.aspx">announced</a> a definitive agreement with Stella, an interventional psychiatry practice, to sell its five wellness clinics in Utah for a total of $3.53 million. The transaction, expected to close by November 30, marks a strategic shift for Numinus, as it pivots towards <a href="https://www.benzinga.com/markets/cannabis/24/09/40845569/mdma-therapy-for-ptsd-faces-fda-delay-are-there-other-ways-forward">developing technology-driven solutions</a> aimed at enhancing the efficiency of mental health care providers.
<h3 class="wp-block-heading">Tech Partnership To Redefine Mental Health Clinics</h3>
In addition to the sale, Numinus and Stella will collaborate on a data-sharing initiative to launch an innovative clinic management platform. By leveraging operational insights from Stella's 12 clinics, Numinus plans to develop a software solution designed to streamline clinic operations, enhance patient outcomes and support insurance reimbursement processes.
"This transaction marks an exciting new chapter in Numinus' strategy to reshape behavioral health care," said Payton Nyquvest, founder and CEO of Numinus. "Leveraging our expertise in patient care, we're now accelerating our mission by focusing on cutting-edge technology solutions. Through our partnership with Stella, we gain unprecedented access to operational data that will enable us to develop a SaaS (software as a service) solution to redefine how clinics operate."
<h3 class="wp-block-heading">Stella Takes Over Utah Operations</h3>
Stella, known for its focus on treating PTSD, anxiety and depression through biological modalities, will assume control of Numinus' Utah clinics. The acquisition includes an upfront payment of $2.08 million, followed by $750,000 in installments throughout 2025, and up to $700,000 in deferred compensation.
"Stella's expansion into Utah brings additional life-changing treatments to the community while supporting Numinus' broader tech initiatives," stated Michael Gershenzon, co-founder and CEO of Stella. "This partnership reflects our commitment to improving behavioral health systems and processes, ultimately enhancing patient care."
<h3 class="wp-block-heading">An Asset-Light Business Model With Enhanced Focus</h3>
With the sale of its clinics, Numinus will shift towards an asset-light model, focusing on its business units like Cedar Clinical Research and the Numinus Network. The strategy aims to integrate clinical research, practitioner training and technology solutions, supporting mental health providers worldwide. The move is part of a broader effort to ease the operational burdens faced by healthcare professionals, particularly as demand for treatments like <a href="https://www.benzinga.com/topic/ketamine-therapy">ketamine</a> and Spravato continues to rise.
"Stella will bolster our clinical solutions offering, leveraging their deep expertise in patient care," Nyquvest added. "We expect strong demand for our Numinus Network Solutions as mental health practitioners navigate growing requests for care."
Cover image made with AI

NUMIF

Numinus Wellness Sells US Clinics, Partners With Stella For Tech-Driven Mental Health Solutions

President-elect Donald Trump has chosen former Representative Doug Collins (R-GA) to lead the <a href="https://www.benzinga.com/cannabis">U.S. Department of Veterans Affairs (VA). </a>
The decision has sparked discussions about how the agency might handle medical cannabis issues, given his inconsistent track record on the issue, as <a href="https://www.marijuanamoment.net/trumps-pick-to-lead-va-voted-against-letting-agency-doctors-recommend-medical-marijuana-to-veterans-before-he-adopted-a-pro-reform-position/">reported</a> Marijuana Moment.
<h3 class="wp-block-heading">Collins' Record On Cannabis</h3>
During his time in Congress, Collins opposed efforts to expand access to medical cannabis for veterans. Between 2014 and 2016, he voted against three proposals that would have allowed VA doctors to recommend cannabis to their patients.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/42018478/trumps-cabinet-choices-will-his-administration-support-or-restrict-cannabis">Trump&#8217;s Cabinet Choices: Will His Administration Support Or Restrict Cannabis?</a>
Collins' views began to shift in 2019. He supported the STATES Act, which would protect state marijuana programs from federal interference, and co-signed a letter with Rep. Matt Gaetz (R-FL), urging Congress to take action on cannabis policy. 
"We believe this Committee and this Congress must act to clarify the rights and responsibilities, relative to cannabis, of individuals, physicians, businesses, medical patients, and law enforcement officials," they wrote.
Later that year, Collins backed a bipartisan bill to protect banks that serve marijuana businesses in states where it is legal. However, he did not take part in a 2020 vote on federal cannabis legalization.
<h3 class="wp-block-heading">Collins' Stance On Psychedelics</h3>
When it comes to psychedelics, there isn't much known about Collins's stance. However, his shifting views on cannabis policy hint that he could be open to exploring different approaches.
<h3 class="wp-block-heading">Cannabis At The VA</h3>
VA policy has long prohibited its doctors from recommending cannabis, citing marijuana's classification as a Schedule I controlled substance under federal law. This stance has remained consistent across both Republican and Democratic administrations, despite growing support for change in Congress.
Recent efforts to address this issue include a Senate Appropriations Committee request for the VA to explore cannabis as an alternative to opioids. Lawmakers have also introduced measures that would allow VA doctors to recommend cannabis in states where it is legal. These efforts have gained bipartisan support, but none have yet become law.
Veterans service organizations have pushed for further reforms, including expanded research into the potential benefits of cannabis. Last year, a Senate committee approved a bill to study cannabis for veterans with certain medical conditions, but it failed to advance to a floor vote.
Read Next:
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<li><a href="https://www.benzinga.com/general/health-care/24/11/42017583/trumps-go-wild-on-health-plan-puts-rfk-jr-in-charge-what-it-means-for-cannabis-and-psychedelics-reform">Trump&#8217;s &#8216;Go Wild On Health&#8217; Plan Puts RFK Jr. In Charge: What It Means For Cannabis And Psychedelics Reform</a></li>
</ul>
Cover image made with AI.

Trump-Appointed Doug Collins To Lead VA: What's Next For Cannabis and Psychedelics In Veterans' Healthcare?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While the precious metals sector has been disregarded by many as an ancient relic, gold stocks to buy have represented an incredibly popular topic as of late. That&rsquo;s been helped by the fact that recently, the yellow metal reached an <a href="https://www.cbsnews.com/news/gold-prices-have-hit-a-new-record-high-5-moves-to-make-now/#:~:text=After%20hovering%20near%20%242%2C300%20an,high%20for%20the%20precious%20metal.">all-time high</a>. While the sector has faded somewhat, this could be a healthy correction before another big move.



Indeed, gold might not be done with its rally thanks to the fear trade. Essentially, the fear trade represents a desire to acquire safe-haven assets. Historically, there has never been a safer asset than precious metals. Subsequently, <a href="https://www.cbsnews.com/news/costco-is-selling-200-million-in-gold-and-silver-monthly-heres-why-you-should-buy-in-now/">people from big-box retailers</a> to central banks have started acquiring physical gold bullion.



It might seem irrational to some but there&rsquo;s a reason behind the surge. Geopolitically, we have flashpoints raging in many parts of the world. Economically, rising concerns exist about debt loads, delinquencies and overall social stability. Add in a contentious U.S. election cycle and the fear trade has plenty of justification. With that in mind, below are gold stocks to buy.



<h2>Kinross Gold (KGC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/kinross-kgc-1600-300x169.jpg" alt="Cellphone with business logo of Canadian mining company Kinross Gold Corp. on screen in front of webpage."><div>Source: T. Schneider / Shutterstock.com</div></div>Based in Toronto, Canada, Kinross Gold (NYSE:<a href="https://investorplace.com/stock-quotes/kgc-stock-quote/">KGC</a>) focuses on the acquisition, exploration and development of gold properties. Primarily, these projects are located in the U.S., Brazil, Chile, Canada and Mauritania. Analysts rate KGC stock a <a href="https://www.tipranks.com/stocks/kgc/forecast">consensus strong buy</a> with an $8.45 price target, implying almost 5% upside potential. However, the high-side target lands at $10.06.



Financially, the justification for the strong endorsement centers in part on Kinross&rsquo; earnings performances. Between the second quarter of 2023 to Q1 2024, the company&rsquo;s average positive earnings surprise hit 42.93%. Over the trailing 12 months (<a href="https://investorplace.com/stock-quotes/ttm-stock-quote/">TTM</a>), the miner&rsquo;s net income reached $433.1 million on revenue of $4.39 billion. Presently, its quarterly revenue growth (year-over-year) rate stands at 16.4%.



For fiscal 2024, covering experts believe that earnings per share will expand 13.6% to 50 cents. On the top line, sales could rise by 10.1% to hit $4.67 billion. Further, the blue-sky revenue target is $4.89 billion. KGC has already gained over 36% and its technical profile appears healthy. Thus, it&rsquo;s one of the gold stocks to buy.



<h2>Equinox Gold (EQX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/gold-300x169.jpg" alt="A pile of shining gold bars. Gold stocks"><div>Source: Shutterstock</div></div>Headquartered in Vancouver, B.C. (Canada), Equinox Gold (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/eqx-stock-quote/">EQX</a>) focuses on the exploration acquisition, development and operation of mineral properties in the Americas. Primarily, it explores gold and silver deposits. Analysts peg EQX stock as a <a href="https://www.tipranks.com/stocks/eqx/forecast">moderate buy</a> with a $6.90 average price target, implying almost 24% upside potential. The most optimistic target calls for $8.78 per share.



While Equinox is a bit more hit or miss than Kinross Gold, it can deliver the goods. In the past four quarters since Q1 2024, the company&rsquo;s quarterly surprise came out to 130.73%. Over the TTM period, Equinox posted a net loss of $31.27 million on sales of $1.1 billion. Right now, its quarterly revenue growth rate comes in at 3.1%.



However, this circumstance may change dramatically for the better. For fiscal 2024, experts anticipate a 400% increase in the bottom line to hit 35 cents EPS. On the top line, analysts are calling for 49.3% growth to land at $1.63 billion. Further, the high-side target is seeking $1.7 billion. It&rsquo;s one of the enticing gold stocks to buy.



<h2>Wheaton Precious Metals (WPM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/wpm-1600-300x169.jpg" alt="Wheaton Precious Metals logo close-up on website page. WPM stock."><div>Source: Postmodern Studio / Shutterstock</div></div>Also based in Vancouver, BC, Wheaton Precious Metals (NYSE:<a href="https://investorplace.com/stock-quotes/wpm-stock-quote/">WPM</a>) specializes in the streaming business model. Rather than directly mining for gold, silver and other valuable metals, Wheaton pays mining enterprises upfront cash. In exchange, the company will take either a portion or all of the metals produced. Analysts rate WPM stock a <a href="https://www.tipranks.com/stocks/wpm/forecast">strong buy</a> with a $59.94 average price target.



It&rsquo;s a confident endorsement and it&rsquo;s supported by Wheaton&rsquo;s consistent financial print. Between Q2 2023 and Q1 2024, the company&rsquo;s average positive earnings surprise clocked in at 12.98%. Over the TTM period, Wheaton posted net income of $590.29 million on revenue of $1.1 billion. Currently, its quarterly revenue growth stands at 38.4%.



While this rate might decelerate, it may not do so by much. For fiscal 2024, experts anticipate EPS of $1.31, implying 11% YOY growth. On the top line, sales could reach $1.23 billion, implying 21% YOY growth. The blue-sky revenue target calls for $1.35 billion, making WPM an enticing idea for gold stocks to buy.



<h2>Franco-Nevada (FNV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/gold-stocks-300x169.png" alt="An image of a rising bar graph on top of gold bars, representing gold stocks"><div>Source: Alexander Limbach / Shutterstock</div></div>Hailing from Toronto, Franco-Nevada (NYSE:<a href="https://investorplace.com/stock-quotes/fnv-stock-quote/">FNV</a>) operates as a gold-focused royalty and streaming company. Royalty firms are similar to streaming. However, rather than taking a cut of the metal production in exchange for upfront capital, royalties involve taking a portion (or all) of the generated revenue. Analysts peg FNV stock as a <a href="https://www.tipranks.com/stocks/fnv/forecast">consensus moderate buy</a> with a $143.01 average price target, implying over 17% growth.



As with the other gold stocks to buy on this list, Franco-Nevada has impressed investors with its consistent performances. In the past four quarters since Q1 2024, the company&rsquo;s average positive earnings surprise came out to 5.13%. During the TTM period, Franco-Nevada incurred a net loss of $478.4 million on revenue of $1.2 billion. Presently, its quarterly revenue growth rate sits at a loss of 7.1%.



It&rsquo;s a tricky matter since analysts project a decline in fiscal 2024 for both earnings and sales. However, in fiscal 2025, EPS could rise to $3.90, better than last year&rsquo;s print of $3.64. Moreover, revenue could hit $1.31 billion, a boost from last year&rsquo;s haul of $1.22 billion.



<h2>New Gold (NGD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/gold-300x169.jpg" alt="A pile of shining gold bars. Gold stocks"><div>Source: Shutterstock</div></div>Another Toronto-based enterprise, New Gold (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/ngd-stock-quote/">NGD</a>) bills itself as an intermediate gold mining firm. It develops and operates mineral properties in Canada, primarily exploring gold, silver and copper deposits. Analysts rate NGD stock as a <a href="https://www.tipranks.com/stocks/ngd/forecast">consensus moderate buy</a> with an average price target of $2.21, implying over 12% upside. The high-side target reaches $2.56.



Financially, New Gold is promising but is also liable for some misses. For example, it posted EPS of 2 cents against an expected target of breakeven. However, in Q4, the company incurred a loss per share of 1 cent when experts targeted EPS of 2 cents. Over the TTM period, New Gold incurred a net loss of $76.2 million on sales of $777 million.



Currently, its quarterly revenue growth rate sits at 4.7% below parity. However, that could change for the better. For fiscal 2024, experts believe that EPS could expand by almost 86% to hit 13 cents. On the top line, sales could rise by 18.4% to land at $931.39 million. Further, the blue-sky target calls for $963.78 million. It&rsquo;s one of the gold stocks to buy if you wish to speculate.



<h2>McEwen Mining (MUX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/10/gold_g_1600-300x169.jpg" alt="A photo of a gold nugget on a table, being picked up by tweezers, with more gold behind it. Stocks to Buy in March"><div>Source: aerogondo2 / Shutterstock.com</div></div>Yet another Toronto-headquartered entity, McEwen Mining (NYSE:<a href="https://investorplace.com/stock-quotes/mux-stock-quote/">MUX</a>) engages in the exploration, development, production and sale of gold and silver deposits in the U.S., Canada, Mexico and Argentina. It&rsquo;s one of the riskier ideas among gold stocks to buy because of its smaller market capitalization of $1.37 billion. Still, analysts peg MUX as a <a href="https://www.tipranks.com/stocks/mux/forecast#">unanimous strong buy</a> with a $13 average price target.



At first glance, the vote of confidence might seem misguided. Although McEwen posted quarterly beats in Q2 and Q3 last year, its past two earnings disclosures missed experts&rsquo; marks. In the past four quarters, the average quarterly surprise came out to 136.58% below breakeven. However, in the TTM period, net income landed at $77.99 million on sales of $172.71 million.



For fiscal 2024, analysts anticipate a loss of $1.07, which is a significant improvement from last year&rsquo;s loss of $3.15. Moreover, revenue could hit $301.47 million, which would imply 32.6% growth from 2023. Given the tremendous potential upside and the unanimous support, MUX ranks among the gold socks to buy.



<h2>US Gold (USAU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/gold-1600-300x169.jpg" alt="A gold bar along with some coins made of precious metals. gold stocks"><div>Source: allstars / Shutterstock.com</div></div>Based in Elko, Nevada, US Gold (NASDAQ:<a href="https://investorplace.com/stock-quotes/usau-stock-quote/">USAU</a>) is a tiny enterprise. Per data from Yahoo Finance, its <a href="https://finance.yahoo.com/quote/USAU/profile">public profile</a> shows only four full-time employees. The business engages in the exploration and development of gold and precious metals in the U.S. It also explores copper and silver deposits. While extremely risky, USAU is up over 40% since the beginning of the year.



Here&rsquo;s the deal with US Gold. It features a market cap of less than $64 million. Therefore, it&rsquo;s treading water above the nano-cap threshold, which is around $50 million. That said, this diminutive profile affords significant share price mobility. That&rsquo;s particularly intriguing because, for this year, USAU has <a href="https://www.tipranks.com/stocks/usau/forecast#">earned two buy ratings</a>. The price targets are $11 and $15.25.



To be clear, the company is a <a href="https://www.gurufocus.com/stock/USAU/financials">pre-revenue enterprise</a>. Therefore, it&rsquo;s difficult to make heads or tails out of it. Nevertheless, with the endorsement of two experts, it&rsquo;s possible that USAU can strike gold (literally). If so, shares can skyrocket. Keep this on your radar if you like gambling.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/7-gold-stocks-to-buy-amid-alarming-fear-trade-signals/">7 Gold Stocks to Buy Amid Alarming Fear Trade Signals</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Gold Stocks to Buy Amid Alarming Fear Trade Signals

In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on US Gold (USAU – Research Report), with a price target of $11...

U.S. Gold Corp Poised for Growth: Strategic Advancements and Strong Financial Standing Prompt Buy Recommendation

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Ultra-cheap, low-market capitalization securities &ndash; even if they are billed as stocks set to skyrocket &ndash; are incredibly risky. Let&rsquo;s just get that point out there right now. Indeed, you&rsquo;re going to read a disclaimer at bottom about the dangers of this arena. But again, let&rsquo;s just make clear this warning from the get-go. Ideas in this realm are treacherous for your financial health.



Having said that, the reason why investors continue to speculate on stocks set to skyrocket is simple: upside potential within a short timeframe. Time, my friends, is money. In fact, it&rsquo;s even better than money. Because you can always make money and use your money to make even more money. But you cannot use your time to make more time &ndash; sorry.



So, in that sense, 20% right freakin&rsquo; now is a lot better than 100% five years down the line. I can make a lot of money in five years. That&rsquo;s the mentality underling this sector. It&rsquo;s possible to see blistering results quickly.



The rub? You can also see devastating results just as quickly. If you can handle the unpredictability, here are stocks set to skyrocket (maybe).



<h2>US Gold (USAU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/12/gold-300x169.jpg" alt="A pile of shining gold bars. Gold stocks"><div>Source: Shutterstock</div></div>Gold exploration and development firm US Gold (NASDAQ:<a href="https://investorplace.com/stock-quotes/usau-stock-quote/">USAU</a>) represents one of the most difficult ideas to assess among stocks set to skyrocket. Operating as an upstream specialist, US Gold offers significant northward potential if it hits it big. Unfortunately, that&rsquo;s difficult to predict based on the financials. The company isn&rsquo;t profitable, losing $6.72 million in the trailing 12 months (TTM).



Now, plenty of organizations don&rsquo;t generate profits. However, US Gold also doesn&rsquo;t generate revenue, which is problematic from an analytics perspective. I mean, how exactly does one go about assigning a valuation to USAU stock? However, <a href="https://stockanalysis.com/stocks/usau/forecast/">H.C. Wainwright&rsquo;s Heiko Ihle</a> is up to the task, rating shares a &ldquo;buy&rdquo; with a $11 price target.



What&rsquo;s more, back in January of this year, <a href="https://stockanalysis.com/stocks/usau/forecast/">Jake Sekelsky of Alliance Global Partners</a> also issued a &ldquo;buy&rdquo; rating. The expert&rsquo;s target was even more optimistic with a $15.25 price target.



Fundamentally, the inflationary environment makes commodity-based enterprises intriguing. Further, it&rsquo;s always possible that given the somewhat disjointed May jobs report, the Federal Reserve could lower interest rates. That just might make USAU one of the stocks set to skyrocket.



<h2>Gevo (GEVO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/penny-1600-300x169.jpg" alt="Pennies in a jar on top of a background of blurred pennies. Penny stocks."><div>Source: John Brueske / Shutterstock</div></div>Operating as a carbon abatement company, Gevo (NASDAQ:<a href="https://investorplace.com/stock-quotes/gevo-stock-quote/">GEVO</a>) falls under the specialty chemicals category of the materials sector. It ranks among the stocks set to skyrocket for its potential ability to help shift the energy paradigm. <a href="https://stockanalysis.com/stocks/gevo/company/">Per its public profile</a>, Gevo is involved in offering renewable gasoline and diesel, along with isobutanol and sustainable aviation fuel. It also delivers solutions focused on renewable natural gas.



Fundamentally, Gevo aligns with the renewable energy market and enjoys robust prospects. <a href="https://www.grandviewresearch.com/industry-analysis/renewable-energy-market">According to Grand View Research</a>, the sector may expand from a valuation of $1.21 trillion in 2023 to $3.6 trillion by 2030. If so, the expansion would translate to a compound annual growth rate (CAGR) of 17.2%.



Admittedly, analysts believe that fiscal 2024 sales will only reach $17.64 million, which is up only 2.6% from last year. However, the gold mine centers on fiscal 2025, when sales could soar to $31.05 million. That would imply a gargantuan growth rate of 76%, easily outpacing the underlying sector.



Also, GEVO presently only represents a fraction of the broader renewable energy space. It has so much upside potential, which is why it ranks among the stocks set to skyrocket.



<h2>Gilat Satellite Networks (GILT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/10/shutterstock_1034855800-300x169.png" alt="A photo of a satellite over earth."><div>Source: AlexLMX / Shutterstock</div></div>Based in Israel, Gilat Satellite Networks (NASDAQ:<a href="https://investorplace.com/stock-quotes/gilt-stock-quote/">GILT</a>) falls under the communication equipment category of the technology sector. <a href="https://stockanalysis.com/stocks/gilt/company/">Per its corporate profile</a>, Gilat provides satellite-based broadband communication solutions. It operates in three segments: Satellite Networks, Integrated Solutions and Network Infrastructure and Services. Fundamentally, GILT stock could be viewed under two lenses.



First, according to Verified Market Research, the underlying telecom equipment market size may reach a valuation of <a href="https://www.verifiedmarketresearch.com/product/telecom-equipment-market/">$614.87 billion by year&rsquo;s end</a>. By 2031, the sector could be worth $978.76 billion, implying a CAGR of 6.6%.



Second, Gilat falls under the wider space economy. By one estimate, the space economy <a href="https://finance.yahoo.com/news/space-economy-market-size-touch-180300624.html">could expand at a CAGR of 11.5%</a> between 2023 to 2030. Either way, GILT stock appears to be positioned favorably. Analysts believe that the company could post revenue of $313.9 million in fiscal 2024, implying 18% growth from last year&rsquo;s print of $266.09 million.



Further, Gilat is profitable, generating net income of $22.89 million during the TTM period or 40 cents per share. Trading at 1.05X trailing-year revenue (and down from 1.43X about one year ago), GILT could be one of the stocks set to skyrocket.



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Read More:&#8239;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">Penny Stocks &mdash;&nbsp;How to Profit Without Getting Scammed</a>



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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U.S. Gold (NASDAQ:<a href="https://investorplace.com/stock-quotes/usau-stock-quote/">USAU</a>) just reported results for the fourth quarter of 2024.<ul><li>U.S. Gold reported earnings per share of -22 cents. This was above the analyst estimate for EPS of -32 cents.</li><li>The company did not report any revenue for the quarter.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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AMPS

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ASTS

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Press Releases

U.S. Gold Corp. Completes Second of Three Mine Operating Permit Conditions for the CK Gold Project in Wyoming

US Gold Corp CEO highlights CK Gold Project's strategic and environmental advantages

U.S. Gold Corp. Proud Sponsor of the 128th Annual Cheyenne Frontier Days - July 19-28, 2024

Small Cap

U.S. Gold Corp. to Participate at H.C. Wainwright's 26th Annual Global Investment Conference in New York

U.S. Gold Corp. to Participate at the 2024 Precious Metals Summit in Beaver Creek, Colorado

U.S. Gold Corp. Provides Update on Engineering Optimization Studies for CK Gold Project

Commodities

U.S. Gold Corp. to Participate at the Gold Forum Americas 2024 Conference in Colorado Springs, Colorado

U.S. Gold Corp's Fall Conference Takeaway Spotlights Developers with Permitted, Derisked Projects in Mining-Friendly Jurisdictions

Winning Media Announces Exclusive Interview With US Gold Corp Chairman and Co-Founder, Luke Norman

U.S. Gold Corp. Chairman to Appear on Live Gold Panel "Mined in the USA"

American Battery Technology Company - Common Stock

American Battery Tech

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares)

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