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Musk disputes reporting on Neuralink implant problems

Elon Musk criticized mainstream media, alleging deceit in their reporting, amidst revelations of a setback with Neuralink’s pioneering brain chip technology.

Neuralink, the brainchild of Musk, made headlines by embedding the first invasive brain chip into a human subject. However, the company disclosed in a blog post on Wednesday that the groundbreaking device experienced a malfunction. The incident involved threads designed to surveil neurons appearing dislodged from the participant’s brain.

You can read more on the matter here.

What’s going on?

• Does RFK Jr. Support Women’s Right to Abortion “Even If It’s Full Term”? (theDeepDive)

• Russian forces attack Ukraine's Kharkiv region, opening new front (Reuters)

• US Consumer Sentiment Slumps as Inflation Expectations Rise (Bloomberg)

• Barry Sternlicht Warns of More Bank Failures: ‘Every Week, Maybe Two A Week’ (theDeepDive)

• Former president slams judicial system on day 15 of NY v. Trump trial: ‘Absolutely abused’ (FOX)

• Climate protesters try to break into Tesla’s Germany factory, multiple people arrested (CNBC)

• Ontario Mortgage Brokerage Owner Caught Committing Fraud, Gets 1-Year Suspension And $110K Fine (theDeepDive)

• UN sounds alarm over aid as Israel pushes assault into Rafah (Reuters)

• Barclays Cuts Jobs in Energy Transition Team It Only Just Built (Bloomberg)

• Popular Ajax Bakery Forced to Relocate Due to Zoning Bylaw Complaint (theDeepDive)

• Employment jumps by 90,000 in April, raising doubts about June interest rate cut (BNN)

What’s the latest?

• Jobs Report: Canadian employers unexpectedly added 90,000 jobs in April, the most significant increase since January 2023, with the surge mainly in part-time positions. Despite this jump, the unemployment rate remained at 6.1%, unchanged from the previous month but up a full percentage point year-over-year.

• Rex Murphy Passes: Rex Murphy, a prominent Canadian journalist and commentator known for his unique literary style and provocative opinions, has passed away at 77 after a battle with cancer. Murphy's career spanned several decades, marked by his work at the National Post and appearances on CBC. His ability to articulate complex ideas in a compelling manner made him a notable figure in Canadian media, although his views often sparked debate.

• Novavax $1.2b Deal: Novavax Inc. experienced a significant surge in share prices, peaking at 217% in premarket trading, following the announcement of a $1.2 billion licensing agreement with Sanofi to commercialize a combined Covid-19 and flu vaccine. The agreement stipulates that Novavax will receive $500 million upfront and potentially an additional $700 million based on achieving certain development, regulatory, and launch milestones.

• Calgary Protests: A protest at the University of Calgary escalated when police used force to disband an encampment of pro-Palestinian protesters. The group had set up tents outside the student centre, and while most agreed to leave voluntarily, a smaller contingent remained. Late Thursday night, the Calgary Police Service employed shields, batons, and flashbang explosives to clear the remaining protesters, citing "projectiles and assaultive behaviour" as justification for the non-lethal tactics.

• Crescent Point Earnings: Crescent Point Energy reported a significant loss of $411.7 million or 66 cents per share for the first quarter, a sharp contrast to its profit of $216.7 million or 39 cents per share from the same period last year. This loss was primarily due to a non-cash impairment charge linked to the assets it plans to sell in Saskatchewan. Despite the loss, the company saw an increase in oil and gas sales, which rose to $1.11 billion

How to unleash investment in juniors

The stock market and stuff

• Curaleaf Reports Revenue Growth of 2% In Q1 2024 (theDeepDive)

• Sam Altman takes nuclear energy company Oklo public to help power his AI ambitions (CNBC)

• Microsoft, OpenAI Reportedly Plans $100-Billion Supercomputer Fueled by Nuclear Power (theDeepDive)

• Miners Seek Exemption From Canadian Tax Hike to Save Equity Deals (Bloomberg)

In the juniors

• Canfor To Close Facilities, Reduce Investment Amid Lumber Market Weakness (theDeepDive)

• iTeos Therapeutics signs agreement for $120M registered direct offering (SA)

• SSR Mining Reports First Earnings Since Çöpler Mine Collapse (theDeepDive)

FULL DISCLOSURE: First Lithium Minerals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Lithium Minerals. The author has been compensated to cover First Lithium Minerals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.