00:03 Speaker A
Right now it’s time for some of today’s trending tickers. We’re watching DraftKings, Synopsys, Tesla, and SpaceX.
00:10 Speaker A
First up, DraftKing’s shares are climbing with US senators reportedly proposing a bill to ban sports betting on prediction markets.
00:18 Speaker A
The bipartisan legislation is said to prevent prediction market exchanges such as Calshi and Polymarket from listing contracts related to sporting events.
00:26 Speaker A
Sponsors of the bill say prediction markets violate state consumer protections.
00:30 Speaker A
The proposal will mark the first bipartisan Senate bill to regulate prediction markets.
00:35 Speaker A
Next, Synopsys stock trading higher this morning. Elliot Management has built a multi-billion dollar stake in the company. That’s according to the Wall Street Journal.
00:43 Speaker A
The activist investor is planning to push Synopsys to make more money from its software and services businesses.
00:50 Speaker A
Elliot’s Jesse Cohen told the journal, the chip designer is essential to the global chip industry as AI demand continues to drive the market.
00:58 Speaker A
Some of the company’s customers include Intel, Alphabet and Tesla.
01:02 Speaker A
Elliott Investments has made a push into semiconductors and it comes as no surprise with the company also taking large positions in Western Digital and SanDisk.
01:11 Speaker A
And finally, Tesla is teaming up with SpaceX on a massive chip complex in Texas.
01:17 Speaker A
Elon Musk said the complex will have two factories at the site.
01:21 Speaker A
The first will aim to make chips that Tesla will use for its vehicles and in its humanoid robots.
01:28 Speaker A
And the second will aim to make chips designed for AI satellites and space data centers.
01:34 Speaker A
Musk says specialized chips are needed to take account for the harsher environment in space, and SpaceX is said to be gearing up for a blockbuster IPO later this year.
01:45 Speaker A
That’s after it merged with Musk’s XAI back in February.
