Happy Wednesday Zingernation! To recap: OpenAI and Sam Altman asked Scarlett Johansson to use her voice for their AI-powered virtual assistant. ScarJo said no. Sam said I don’t care, and allegedly used her voice anyway. Look, I’ve had a crush on her for the majority of my life, so take it from me Sam, it’s time to move on and find someone new.

-Aaron Bry and Nic Chahine

Plus, check out the company that’s using cannabinoids to treat Alzheimer’s.

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MARKET SNAPSHOT

Yesterday: Fresh all-time highs for Mr. Market. The excitement around NVIDIA before its earnings and some dovish Fed Speak drove the market to unprecedented heights.

On Our Radar: Existing home sales come out at 10 AM ET and then we’ll get the Fed’s May meeting minutes at 2 PM ET, but let’s be real. All anyone will be watching this afternoon will be NVIDIA’s earnings report.

Plus: Gain an edge using market-moving news breaks. Get actionable news alerts before other traders with Benzinga Pro, currently 50% off.

TOP STORY

RFK Jr. Announces GameStop Stock Purchase On X Account

In Short: Lawyer and activist Robert F. Kennedy Jr. announced his purchase of GameStop shares on Tuesday on his X account. He joined the meme stock movement by retail traders that gained steam in 2021 and was renewed with a return of Roaring Kitty on social media.

The Context: Meme stocks like GameStop and AMC saw a surge in interest and volatility last week after Roaring Kitty, aka Keith Gill, made a return to social media platform X.

Basically: On Tuesday, the 2024 presidential candidate posted that he bought $24,000 in GameStop shares to support the movement. His tweet showed a picture of Kennedy running for office in the 2024 election with the caption "Apes Together Strong" resembling a movie poster.

Quoted: "I'm very aware of what the average retail investors has been saying about the need for greater transparency in our markets, stronger regulatory oversight and tougher penalties for market manipulation and criminal behavior," Kennedy tweeted.

Click here to read the full story.

PRESENTED BY INMED

InMed (NASDAQ: INM) Developing Cannabinoids Analogs To Treat Alzheimer's – New Studies Showcase INM-901's Therapeutic Abilities

Nearly 7 million Americans suffer from Alzheimer's and that’s poised to grow to 13 million by 2050. There are several treatments on the market, but they focus on addressing the symptoms rather than repairing and regenerating the damaged neurons. Some drugs and treatments may slow the progression of cognitive decline, but none can reverse the effects of Alzheimer’s. That’s where InMed Pharmaceuticals Inc. (NASDAQ: INM) comes in. The leader in cannabinoid and cannabinoid analogs pharmaceutical research, development, manufacturing and commercialization has identified a rare cannabinoid to treat Alzheimer’s.

Named INM-901 and based on early preclinical research, the cannabinoid analog showed the potential to target several biological pathways associated with Alzheimer’s, providing neuroprotection to the brain neurons and improving neuronal function. That’s potentially big news given the costs associated with treating Alzheimer's and dementia are projected to swell to $1 trillion by 2050 from $360 billion today. To learn more about InMed’s promising INM-901 treatment click here.

Click here to learn more.

FIVE ZINGERS

Bye-Bye, Biscuits: Red Lobster officially filed for bankruptcy, putting the future of the chain’s famous biscuits at risk. And Elon is upset.  

Got My Vote: Ray Dalio revisited his declaration that he would vote for Taylor Swift if she ran for president. Here’s why he said he was only half kidding.

Anything You Got: Team Trump is now accepting campaign donations via Bitcoin, Dogecoin, Shiba Inu and pretty much anything else you got.

Here Comes The Sun: First Solar soared higher yesterday following an upgrade from two big analysts. Could solar names heat up?

Let’s Go To The Mall: Urban Outfitters reported earnings after the close yesterday, and the mall favorite shot higher. Here’s why it matters.

ONE FOR THE ROAD

Microsoft Unveils 5 Game-Changing AI Tools At Build 2024 Conference

In Short: Microsoft’s annual Build conference, held from May 21-23 in Seattle and online, has unveiled a suite of groundbreaking AI tools and enhancements.

Some Updates: The event, which attracted developers from around the globe, focused heavily on artificial intelligence, with significant updates to Microsoft’s AI offerings. The company unveiled 5 AI tools and advancements.

The Dreams: Microsoft CEO Satya Nadella outlined the company’s longstanding aspirations at Build 2024, stating, “Can computers understand us instead of us having to understand computers?” and “Can computers help us reason, plan, and act more effectively on all that information?” Nadella positioned AI as the answer to these dreams.

A Revolution: Microsoft’s CTO and EVP of AI, Kevin Scott, likened the current AI advancements to past technological revolutions, stating, “We're riding an extraordinary platform wave,” similar to the PC evolution and broadband internet.

Read more here. 

PRESENTED BY BENZINGA