Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Panasonic Energy Co. Ltd. and Novonix have signed a deal to supply synthetic graphite for the production of electric vehicle batteries. On Friday, Feb. 9, the Japanese firm confirmed that it agreed to a binding off-take contract with the Australian battery materials company to obtain 10,000 tons of graphite.
Panasonic Energy, which supplies EV batteries for Tesla's electric vehicles, said it will procure high-performance synthetic graphite anode from Novonix's battery plants in North America, including one in Tennessee. The manufactured material is expected to be continuously delivered to Panasonic's battery unit in four years starting next year.
Possible Contract Extension
Panasonic Energy and Novonix's deal involves supplying at least 10,000 tons of anode material. According to Capital Brief, the order could be expanded later, as the partners can increase the volume if needed.
Then again, it was revealed that Panasonic Energy could also trim down the initial volume or even cancel the agreement if Novonix fails to deliver. The contract may be terminated if the battery maker thinks its supplier cannot comply with the agreed production milestones.
Novonix's Shares Soars
The Motley Fool reported that Novonix announced its newest deal with Panasonic Energy, and its shares immediately increased by 20%. The investors reportedly got excited with the news, which caused the company's share prices to go up.
"We are excited to announce the finalization of a binding off-take agreement with Panasonic Energy to become a supplier of key anode material for its North American-based facilities," Novonix's chief executive officer, Dr. Chris Burns, said in a press release. "Off-take agreements with high-quality partners such as Panasonic Energy solidify NOVONIX's position as a leader in onshoring the supply chain of synthetic graphite and accelerating the adoption of clean energy in the industry."
Panasonic Energy's chief technology officer, Dr. Shoichiro Watanabe, commented, "We are thrilled about the partnership with NOVONIX, which will bring innovative technologies to key anode material."
