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Nvidia is demonstrating a massive rise in its overall growth, and after the announcement of its AI GPUs , its stock prices have now hit the roof, and that has now got the rapt attention of Apple, as they too want to enter the chipmaking field in a big way, and have planned some collaborations that can help them get towards this. Are Broadcom and Apple tying up for AI chipmaking? Apple is now reportedly tying up with a company named Broadcom for the manufacturing of its AI chips, and right after the announcement of the same, Broadcom's stocks have surged significantly, with expectations of it to grow further in the coming weeks. Earlier, Apple used to get its chips for search functions from Amazon Web Services, which is an Amazon subsidiary. Therefore, it was expected that the collaboration for the AI chips may happen with Amazon, and this announcement with Broadcom, has come as a rather surprise. However, the collaboration with Broadcom may end up giving Apple the necessary boost in the AI chipmaking industry , and enhance its systems in such a manner that its stocks may show an optimum growth through 2025 and 2026. FAQs: Is Broadcom an AI chipmaker? Broadcom is in the business of chipmaking, and has now tied up with Apple for GPU chip supplies for its devices. (You can now subscribe to our Economic Times WhatsApp channel )(Reuters) - An investigation has been launched into the disappearance of an Israeli-Moldovan dual citizen who lives in the United Arab Emirates and has been missing since Thursday, the Israeli prime minister's office said on Saturday. It said in a statement that authorities in the Gulf country had opened the investigation based on information that the man's disappearance was related to "a terrorist incident", without providing further details. The missing man was identified as Zvi Kogan, a representative in the UAE of Chabad, an Orthodox Jewish group that has chapters around the world and seeks to build links with non-affiliated and secular Jews or other sects of Judaism. The UAE's state news agency later said the interior ministry was searching for the missing man and investigating his disappearance, without mentioning his Israeli citizenship. Chabad UAE declined to comment. The group's branch in the UAE supports thousands of Jewish visitors and residents in the country, providing religious and social services to Jewish people across the Gulf region, according to its website. The UAE became the most prominent Arab state in 30 years to establish formal ties with Israel under a U.S.-brokered agreement in 2020, dubbed the Abraham Accords. It has maintained the relationship during the Israel-Hamas war in Gaza. (Reporting by Emily Rose and Andrew Mills; Writing by Hatem Maher; Editing by Mark Heinrich and Helen Popper)Keitenn Bristow scores 23 as Tarleton State tops Florida A&M 70-60
At the same time, tapping into the full potential of individuals and organizations is crucial for achieving breakthroughs and advancements. By providing opportunities for people to showcase their talents and skills, organizations can benefit from fresh perspectives, innovative ideas, and a heightened sense of motivation. This, in turn, can lead to increased productivity, creativity, and overall success.CORNELIUS, N.C. and NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Alpha Modus Holdings, Inc. ("Alpha Modus" or the “Company”), a technology company with a core focus on artificial intelligence in retail, is pleased to announce that the business combination between Insight Acquisition Corp. and Alpha Modus Corp. has closed, and Alpha Modus’s common stock and warrants will begin trading on the Nasdaq Global Market under the ticker symbols “AMOD” and “AMODW”, respectively, on Monday, December 16, 2024. In connection with the closing of the business combination, the combined company consummated and issued a secured convertible promissory note to an investor, in exchange for net proceeds of approximately $2.6 million, which will be used primarily to cover transaction costs and for working capital. The structure of the financing does not include commitment or warrant shares and is structured with the potential for an additional $5 million capital infusion for working capital purposes in the future. Advisors Maxim Group LLC served as capital markets advisor to Alpha Modus. Brunson Chandler & Jones, PLLC acted as legal counsel to Alpha Modus. Loeb & Loeb LLP served as legal counsel to Insight Acquisition Corp. About Alpha Modus Alpha Modus engages in creating, developing and licensing data-driven technologies to enhance consumers' in-store digital experience at the point of decision. The company was founded in 2014 and is headquartered in Cornelius, North Carolina. For additional information, please visit alphamodus.com . About Insight Acquisition Corp. Prior to the closing, Insight Acquisition Corp. (NASDAQ: INAQ) was a special purpose acquisition company formed solely to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Insight Acquisition Corp. was sponsored by Insight Acquisition Sponsor LLC. For additional information, please visit insightacqcorp.com . Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Insight's and Alpha Modus' actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. These forward-looking statements include, without limitation, Insight's and Alpha Modus' expectations with respect to future performance and anticipated financial impacts of the Business Combination. Insight and Alpha Modus caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Insight and Alpha Modus do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based. Contacts: Alpha Modus Shannon Devine MZ Group +1(203) 741-8841 shannon.devine@mzgroup.us
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KANSAS CITY, Mo. — Pick your adjective to describe the Kansas City Chiefs this season — charmed, serendipitous, fortunate or just plain lucky — and it probably fits, and not just because they keep winning games that come down to the wire. Every time they need help at a position, they've found someone sitting on the couch, seemingly waiting for their call. First it was wide receiver JuJu Smith-Schuster, who returned to the Chiefs just before the season after Marquise Brown was lost to shoulder surgery. Then it was running back Kareem Hunt, who likewise returned to his former team when Isiah Pacheco broke his fibula. Left tackle D.J. Humphries came next when other options at the position were struggling, and this week it was Steven Nelson, who came out of retirement to help a secondary that has struggled for weeks. "Just got an opportunity, got a call. Was very excited about it," said Nelson, who spent his first four seasons in Kansas City before stints in Pittsburgh and Houston, and ultimately calling it quits in June so he could spend more time with his family. "I've got two daughters and been spending a lot of time with him," Nelson said, "but still trying to work out. It was kind of the perfect scenario, getting the call, especially where this team has been and this point in the season. Great opportunity." It's been a perfect opportunity for all of them. Perfect fits for the Chiefs, too. Each could have signed just about anywhere else and been able to contribute, yet they were still sitting around when Chiefs general manager Brett Veach reached out. In the case of Smith-Schuster, Hunt and Humphries, there were some concerns about injuries that had kept some teams away, but the Chiefs were willing to take a risk on them. Smith-Schuster, who has dealt with knee trouble for years, missed some time with a hamstring injury this season. But he still has 202 yards and a touchdown receiving, and has provided some veteran leadership in the locker room. Hunt was coming off a sports hernia surgery, a big reason why the Browns — whom the Chiefs visit Sunday — declined to bring him back after five years spent in a one-two punch with Nick Chubb. But when Pacheco went down, Hunt stepped in and their offense barely missed a beat; he has run for a team-leading 608 yards and five touchdowns in 10 games. Humphries was still rehabbing a torn ACL at the start of the season, but the former Pro Bowl tackle was cleared just before the Chiefs called him. Kingsley Suamataia and Wanya Morris had struggled to protect Patrick Mahomes' blind side, so they brought in Humphries to help out. And while he hurt his hamstring late in his debut last week against the Chargers, the Chiefs still hope he'll be recovered and fully up to speed in time for the stretch run and the playoffs. "I'm in Kansas City, bro. I'm pretty ecstatic. It don't get much better than this," Humphries said. "Everybody is excited for me to be here and that's a really good feeling. You're getting All-Pro guys' arms outstretched, like, 'We're so glad you're here.'" The providential signings don't stop at those four players, either. When the Chiefs lost kicker Harrison Butker to knee surgery, they signed Spencer Shrader off the Jets practice squad, and he promptly kicked a game-winner against Carolina. But then Shrader hurt his hamstring and landed on injured reserve. The 49ers had just waived Matthew Wright, and the Chiefs signed him up. He's gone 8 for 9 on field-goal tries, has been perfect on PATs, and banged the game-winner off the upright and through last week against Los Angeles. Just like Smith-Schuster, Hunt and Nelson, Wright had been with Kansas City a couple of years ago. "It definitely helps, him knowing how we do things, how we practice and what we expect," Chiefs special teams coach Dave Toub said. "That all helped, for sure. And he's a veteran. He's been a lot of places. It wasn't like he was a rookie off the street." Or off the couch, for that matter. NOTES: Butker planned to kick again Thursday and could come off IR to face the Browns on Sunday. "He looked good," Toub said. "We have to see how he responds." ... Humphries (hamstring) did not practice Thursday. RT Jawaan Taylor (knee) was limited. ... SS Justin Reid will likely handle kickoffs against Cleveland. He has a stronger leg than Wright and also puts another athletic and adept tackler on the field on special teams. Be the first to know Get local news delivered to your inbox!Over the past 23 quarters and more, IDFC First Bank has staged a remarkable turnaround. Led by chief executive V. Vaidyanathan, the management has delivered on nearly every metric set out in December 2018, when IDFC Ltd merged with Capital First. Yet, despite these achievements, the bank’s stock has consistently underperformed the NIFTY 500 index, with only six to seven months of outperformance in the last 60 months. The bank’s underwhelming stock performance comes despite substantial milestones, including: Retail deposits growing more than 14x. Wholesale deposits reducing from 73% to 20% of total deposits. CASA ratio increasing from 8.7% to 47.2%. Doubling its loan book. Launching over 20 new products. Reducing infrastructure financing from 19% to 1.2% of the loan book. However, profitability remains subpar. While the bank has guided for a Return on Assets (ROA) of 1.4-1.6% and Return on Equity (ROE) of 13-15% for FY25, annualized H1FY25 numbers stand at a modest 0.57% and 5.15%, respectively. In Q2FY25, provisions surged to 1,732 crore from 994 crore in the previous quarter, driven by a 568 crore "one-time" provision for microfinance and a toll road account. Management indicated that high provisions are unlikely to constrain profitability in coming quarters, but this remains a key monitorable. Additionally, the high cost-to-income ratio of 70%—expected to decline slowly over the next few years—continues to weigh on profitability. Together, the cost-to-income ratio and provisions are the two critical levers for the bank’s future performance. Reasons for optimism Despite the challenges, there are three key reasons why may be undervalued for long-term investors: Microfinance loans, which make up 5.6% ( 12,500 crore) of the total loan book, are facing , with over 300 crore in provisions. However, the bank has provisioned 99% of its Special Mention Account (SMA) book in this segment and benefits from partial insurance via the Credit Guarantee Fund for Micro Units (CGFMU). At the bank level, gross non-performing assets (GNPAs) is 1.92%, and net NPA (NNPA) is 0.48%. While this marks a slight deterioration from Q1FY25, the figures remain reasonable given the bank’s 15% exposure to unsecured retail loans. Excluding microfinance, GNPA/NNPA for the retail, rural, and MSME portfolio—which comprises 83% of the total loan book—stands at a healthier 1.5% and 0.5%, respectively. Amid a challenging environment for deposit growth, IDFC First Bank has grown its CASA book and term deposits by an impressive 38% and 28%, respectively. Credit growth has also been robust, with a 21.5% increase in gross loans, outperforming the system average. While the legacy infrastructure book is being wound down, most business segments have shown healthy growth. However, credit growth alone isn’t always a reliable indicator of success, as history has shown that rapid growth can sometimes precede asset quality issues. Following its merger with IDFC Ltd on 1 October, the bank’s book value rose by 618 crore, standing at 52.3 per share as of September. At the current market price, this translates to a price-to-book (P/B) ratio of 1.2x, below its 5-year median of 1.5x and at the lower end of its peer group. Expecting IDFC First Bank to trade at multiples comparable to ICICI Bank or Axis Bank may be unrealistic. That said, the NIFTY Bank index, which comprises the 12 most liquid banks listed on the NSE, is currently trading below its median price-to-book multiple. This likely indicates that the banking sector as a whole is undervalued. The bottom-line For IDFC First Bank, profitability remains the missing piece. The two critical levers driving this are its cost-to-income ratio and credit costs. Given that improvements in the cost-to-income ratio are expected to materialize gradually over the next 2-3 years, coupled with ongoing stress in the unsecured retail segment, the market appears to be discounting both the banking sector as a whole and IDFC First Bank specifically. However, over the long term, these challenges are likely to ease. With strong asset quality, robust deposit and credit growth, and attractive valuations, the bank holds promise as a rewarding opportunity for patient, long-term investors.
(BPT) - The holidays are almost here! It means parties and events, hustle and bustle ... and figuring out what to buy for everyone on your list. Sometimes it's hard to get inspired with great ideas that your nears and dears will love at a price you can afford, right? The good news? Inspiration + savings are covered this year. One of the top gifts of Holiday 2024 is technology, and there are a lot of deals out there right now. Done and done! Here are 5 ideas for hot tech gifts for everyone on your list. Smartphones for the family T-Mobile is running a hot deal right now. Get four new smartphones at T-Mobile — this includes Samsung Galaxy S24 and other eligible devices — and four lines for just $100/month . It doesn't get better than that! These new Galaxy phones are tech-tastic, too, with features like AI, Circle to Search with Google, which can be used to help solve math problems and translate entire pages of text in a different language, and Note Assist with Galaxy AI, which lets you focus on capturing your notes and then Note Assist will summarize, format and even translate them for you. High tech spiral notebook for students We've got to admit, this is pretty cool. The Rocketbook looks (a bit) like a regular spiral, paper notebook. Here's the high tech twist: You can take notes, capture ideas, brainstorm, draw — whatever you do on paper — on the pad, and the Rocketbook digitizes your doodles and saves to the cloud device of your choice. Then you simply wipe the pad clean and it's good to go. Look for Black Friday and Cyber Monday sales at your favorite online retailer. Wrist-worthy smartwatches for athletes (or those who want to be) Everyone loves smartwatches (if you're not already tracking your sleep and heart rate, where have you been?) and the Google Pixel Watch 3 (41mm & 45mm) takes it to the next level with features for athletes or anyone who may be setting fitness goals for the coming year. The watch has workout prompts like Real Time Guidance — audio and haptic cues for when to sprint, cool down or maintain pace. It gives you the ability to program your workouts and even monitors your cadence and stride. It also has Offline Maps, with driving navigation, search and maps. Here's the deal of the century: Get it for free at T-Mobile when adding a qualifying watch line. Cute wireless keyboard for people who are all thumbs Who else is annoyed by typing email or texts or social posts on a smartphone? The Logitech Multi-Device Wireless Bluetooth Keyboard solves that problem with style! It comes in sweet colors like lavender, it's wireless, it's small and portable, and it works with just about any device. Pop it into your backpack or purse and you'll never have to thumb-out a message again. Speakers perfect for hosting and giving Have a music lover in your life or need the perfect hosting gift? T-Mobile has you covered. For a limited time, you can get the JBL Clip 5 for free when you pick up a Harman Kardon Onyx Studio 9 . The JBL Clip 5 is an ultra-portable Bluetooth speaker perfect for those on the go and the Onyx Studio 9's sleek design and booming sound will take care of all your holiday hosting needs. For more tech-tastic holiday gift inspiration, check out T-Mobile's holiday gift guide at t-mobile.com/devices/tech-gifts .5 top tech gifts for the holidays
