Top Midday Stories: Meta Acquires AI Startup Manus; Tesla Says Analysts Project Lower Q4 Deliveries

MT Newswires Live12-31 00:35

The big three stock indexes were mixed in late-morning trading Tuesday ahead of the upcoming New Year's holiday.

In company news, Meta Platforms (META) said late Monday that it has acquired artificial intelligence startup Manus to help accelerate the rollout of general purpose AI agents for consumers and businesses. The deal values Manus at over $2 billion, according to media reports. Meta shares were up 1.2% around midday.

Tesla (TSLA) said late Monday that a consensus of analyst estimates projects the electric automaker made 422,850 deliveries in Q4, down from 495,570 a year ago. Analysts polled by FactSet expect 447,000 deliveries. Tesla shares were up 0.3%.

SoftBank has completed its $40 billion investment commitment to Microsoft-backed (MSFT) OpenAI, CNBC reported Tuesday, citing sources familiar with the matter. The Japanese investment firm sent a final $22 billion to $22.5 billion last week, taking its stake in the company above 10%, according to the report. Microsoft shares were up 0.4%.

Alibaba Group (BABA) will be one of the key investors in Chinese AI startup MiniMax's upcoming initial public offering in Hong Kong, Bloomberg reported Tuesday, citing unnamed sources. Alibaba shares were down 0.4%.

Boeing (BA) has been awarded an $8.6 billion US military contract to build 25 fighter jets for Israel, the Pentagon said Monday. Boeing shares were up 1.8%.

China is requiring chipmakers to use at least 50% locally made equipment for capacity expansion, Reuters reported Tuesday, citing three people familiar with the matter. Lam Research (LRCX) had predominantly supplied advanced etching tools in China, but those firms are now being partially replaced by Naura and smaller rival Advanced Micro-Fabrication equipment, Reuters reported, citing unnamed sources. Lam Research shares were down 0.4%.

Price: 666.55, Change: +7.86, Percent Change: +1.19

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