important information
1. According to research firm Wood Mackenzie, the number of electric vehicle charging ports in the United States is expected to quadruple from current levels to 18 million by 2027, with most chargers expected to be residential.
2. Federal Reserve: The U.S. banking industry passed the Fed’s stress test. 23 banks are expected to lose $541 billion, but maintain capital adequacy ratios far above the required level.
3. OpenAI, the developer of ChatGPT, is stealing “vast amounts” of personal information to train its artificial intelligence models in a desperate pursuit of profit, a group of anonymous individuals claim in a class action lawsuit.
stock news
1. “Stock God” Buffett’s Berkshire Hathaway (BRK.A.N, BRK.B.N) said on Wednesday that it has increased its stake in Occidental Petroleum (OXY.N), increasing its shareholding in the oil company to more than 25%.
2. The Tesla (TSLA.O) Model 3 battery will be upgraded to use a 66-degree lithium manganese iron phosphate battery.
3. American charging pile giant Blink Charging (BLNK.O) has incorporated the Tesla (TSLA.O) NACS charging standard into its product line.
4. Micron Technology (MU.O)’s fiscal year 2023 Q3 revenue of US$3.75 billion was higher than expected, and the CEO said that the trough in revenue has passed.
5. The CEO of U.S. electric vehicle upstart Lucid Group (LCID.O) said on Wednesday that the company will seek larger-scale cooperation in the future, that is, sell its luxury electric vehicle (EV) equipment to expand its technology supply business.
6. Oracle (ORCL.N) said on Wednesday local time that its industry-leading database software can be used with a new type of processor for the first time in more than a decade.
7. ExxonMobil (XOM.N) agreed to develop more than 6,100 acres of lithium-rich land in Arkansas with TETRA Technologies, Inc., the second time this year that the oil giant has taken control of assets needed to produce the metal for electric vehicle batteries .
8. MicroStrategy ( MSTR.O ) bought about $347 million in bitcoin in the second quarter, the largest transaction by the prominent cryptocurrency advocate since bitcoin prices peaked in late 2021.
9. Blackberry (BB.N) Q1 revenue in fiscal year 2024 was US$373 million, a year-on-year increase of 122%, exceeding market expectations.
10. Credit card giant Visa (V.N) will acquire Brazilian financial technology company Pismo, which provides a cloud-based payment and banking platform, for US$1 billion in cash.