HUNTERSVILLE, N.C.--(BUSINESS WIRE)--Aug 14, 2026--
23XI Racing announced today that Pinnacle Financial Partners has extended its relationship with the team into the future with a multi-year partnership renewal that will feature additional races with Tyler Reddick and the No. 45 team, beginning in 2027. Pinnacle will also continue to be included on the No. 45 team’s equipment and Reddick’s driver uniform. The Nashville-based firm is a leading financial services institution serving communities in nine states across the Southeast.
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Pinnacle’s relationship with Reddick dates back to 2018, and the firm has been an associate partner with 23XI since 2023. Earlier this season at EchoPark Speedway in Atlanta, Reddick pulled off a thrilling come-from-behind win after sustaining heavy damage to earn the first win in the Pinnacle-branded car. The win was also Reddick’s second of his historic three consecutive wins to start the 2026 season.
Pinnacle was first featured on the No. 45 Toyota during the 2024 NASCAR Cup Series event at Nashville Superspeedway. This weekend’s race in Richmond will mark the sixth time Reddick has raced the black and blue Pinnacle-branded car in the Cup Series. Through the partnership extension, the Pinnacle-branded car will be featured at additional races throughout the 2027 season.
In addition to showcasing Pinnacle on the car, the partnership has also led to a collaboration with The Academy of Country Music and the ACM Awards being featured on Reddick’s car for the NASCAR All Star Race at Dover Motor Speedway. The collaboration extended across the country to the awards show, where future full-time 23XI driver Corey Heim attended several events and debuted the ACM Awards car alongside Country powerhouse Kameron Marlow at “ACM’s Next Wave: Country’s Beach Bash.”
The ACM Awards collaboration with 23XI and Pinnacle highlighted how the partnership is focused on unique activations both at the track and beyond. In addition to the partnership with 23XI and Reddick, Pinnacle is also partnered with pro golfer Russell Henley and serves as the official bank for the PGA TOUR’s Cadillac Championship, Memphis Grizzlies, Tennessee Titans and The Pinnacle, a state-of-the-art premier live music venue located in the heart of Nashville Yards.
“We’re pleased to extend our relationship with Pinnacle and look forward to continued growth with them as their brand expands as well,” said 23XI team president Steve Lauletta. “The Pinnacle partnership has been a great example of working together to create unique activations that are elevating both brands.”
“Pinnacle has been such a great partner with me and my family and the race team at 23XI,” said Tyler Reddick, driver of the No. 45 Toyota Camry XSE. “The group at Pinnacle is like family and it was really special for me to get a win in their car earlier this year. I can’t wait to share more memorable moments with them in the future.”
“We’ve had the opportunity to grow alongside Tyler for years and this renewal reflects the trust that’s been built over time,” said Andy Moats, Pinnacle’s director of music, sports, and entertainment. “Continuing our relationship with 23XI gives us another opportunity to support him while introducing more people to the way we build lasting relationships with our clients and communities.”
About Pinnacle Financial Partners
Pinnacle Financial Partners, Inc. (“Pinnacle”) is a $129.1 billion asset regional bank which provides a full range of banking, investment, trust, mortgage and insurance products and services for commercial and consumer clients who want a comprehensive relationship with their financial institution. The firm joined forces with Synovus Financial Corp. in 2026, bringing together more than 160 years of combined banking service. Pinnacle is the largest bank headquartered in Tennessee and the largest bank holding company headquartered in Georgia. The firm is No. 1 in deposit market share* in the Nashville MSA and No. 4 in the Atlanta MSA with offices in Tennessee, Georgia, Florida, North Carolina, South Carolina, Alabama, Kentucky, Virginia and Maryland.
Pinnacle is an employer of choice for financial services professionals. The firm is No. 12 in the Fortune 100 Best Companies to Work For® in 2026, its 10th consecutive appearance. Pinnacle was also recognized by American Banker as No. 4 among America’s Best Banks to Work For in 2025, its 13th consecutive year on the list, and No. 1 among banks with more than $10 billion in assets. Learn more about Pinnacle at PNFP.com.
*As of June 30, 2025, according to FDIC data.
About 23XI Racing
23XI Racing – pronounced twenty-three eleven – was founded by NBA legend Michael Jordan and three-time Daytona 500 winner Denny Hamlin in 2020. With rising NASCAR star Bubba Wallace selected to drive the No. 23 Toyota Camry, the team made its NASCAR Cup Series debut in the 2021 Daytona 500 at Daytona International Speedway. Wallace made history on October 4, 2021, when he captured his first career Cup Series win, becoming just the second African American to win in the Cup Series, and earning 23XI its first-ever victory. 23XI expanded to a two-car organization in 2022 with Cup Series Champion Kurt Busch driving the No. 45 Toyota Camry. With a win at Kansas Speedway in May of 2022, Busch earned 23XI the team’s first-ever playoff berth. In 2024, Tyler Reddick won the Regular Season Championship and raced to a spot in the Championship 4, a first for both the team and Reddick. 23XI currently features the lineup of Bubba Wallace in the No. 23 Toyota Camry XSE, Tyler Reddick in the No. 45 Toyota Camry XSE, Riley Herbst in the No. 35 Toyota Camry XSE and Corey Heim as the team’s development driver. The team operates out of Airspeed, a state-of-the-art facility in Huntersville, N.C. that opened in January of 2024.
23XL Racing and Pinnacle Financial Partners extend partnership.
NEW YORK (AP) — U.S. stocks are drifting around their record heights Friday following the latest report on the economy to come in surprisingly weak, this time about how much shoppers are spending at retailers. Such data could keep interest rates low, which is something Wall Street loves, but it also raises the risk of a worst-case economic scenario of slow growth and high inflation.
The S&P 500 was virtually unchanged, coming off its all-time high set the day before. The Dow Jones Industrial Average was down 24 points, or less than 0.1%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.2% lower.
Treasury yields were also mixed in the bond market after a report showed shoppers spent less at U.S. retailers last month than the month before. That surprised economists, who were forecasting another month of growth.
On the bright side for financial markets, such a pullback in spending could take pressure off inflation. Inflation remains much higher than anyone would like, but reports earlier this week suggested the pace of increases in prices is decelerating.
If inflation keeps trending that way, it could encourage the Federal Reserve to hold off on hikes to interest rates. Higher rates would help keep a lid on inflation, but they do so by intentionally slowing the economy and making it more expensive for everyone to borrow money.
But the downside of such data, including last week’s surprisingly weak report on the U.S. job market, is that they also raise the risk of a slowing economy. The Fed has no good tool to fix both a stagnating economy and high inflation at the same time, which is why what’s called “stagflation” is seen as a worst-case scenario.
Some on Wall Street cautioned against overreacting to the weak data on U.S. retail sales, even if it was broad based. It could simply be a snap back after retail sales in earlier months were boosted by unusual factors such as big tax refunds, the World Cup and even an earlier Prime Day event at Amazon, according to Jennifer Timmerman, senior investment strategy analyst at Wells Fargo Investment Institute.
U.S. consumers nevertheless appear to be getting more discouraged about the economy. A preliminary survey by the University of Michigan suggested sentiment among them is weakening by more than economists expected.
The survey said drops occurred across the political spectrum and showed up particularly among older, lower-income and other groups who can be hurt most by inflation.
On Wall Street, Reddit jumped 13% after learning its stock will join the S&P 500 index on Tuesday. Many professional investors and funds closely track the index, either mimicking it or at least measuring their performance against it. That can push many investors to buy a stock automatically when it enters the index.
Applied Materials fell 4.9% even though the company, whose technology helps make semiconductors, reported stronger profit and revenue for the latest quarter than analysts expected. CEO Gary Dickerson said global hunger for artificial-intelligence technology helped it deliver another record quarter.
But its stock had already more than doubled this year and built expectations very high, which helped pressure the stock on Friday.
AI stocks in general have been swinging sharply on worries that their prices shot too high because of AI euphoria and that their strong growth in revenue may not be sustainable.
In the oil market, prices were relatively steady following big recent swings as hopes rose and fell about when the war with Iran will allow tankers to carry crude again from the Middle East again to customers worldwide. The price for a barrel of Brent crude rose 0.4% to $87.46 after drifting earlier between gains and losses.
In the bond market, shorter-term Treasury yields eased following the retail sales report, suggesting traders see the Fed as less likely to hike interest rates at its next meeting in September.
But the yield on the 10-year Treasury, which moves more on expectations for inflation and economic growth in upcoming years, rose to 4.66% from 4.63% late Thursday.
In stock markets abroad, indexes were mixed in Europe and Asia.
London’s FTSE 100 slipped 0.1% after Nigel Farage regained the seat in Parliament he quit a month ago, beating trash-can wearing comic candidate Count Binface in a special election.
South Korea’s Kospi again had one of the world’s sharpest moves and jumped 2.4% for its third straight gain of at least that much. Seoul has been at the center of the world’s swings for artificial-intelligence stocks because its market is dominated by two tech giants, Samsung Electronics and SK Hynix.
AP Business Writers Michelle Chapman and Elaine Kurtenbach contributed to this report.
Trader Fred Demarco, right, and Specialist Michael Pistillo, left, work on the floor of the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)
Traders Daniel Kryger, right, and Aman Patel, left, work on the floor of the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)
A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)
A person walks in front of an electronic stock chart board showing Japan's Nikkei index at a securities firm Thursday, Aug. 13, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walk in front of an electronic stock chart board showing Japan's Nikkei index at a securities firm Thursday, Aug. 13, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 14, 2026. (AP Photo/Ahn Young-joon)
Currency traders work at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 14, 2026. (AP Photo/Ahn Young-joon)
A screen shows the Korea Composite Stock Price Index (KOSPI), SK Hynix and Samsung Electronics Co. stock price at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 14, 2026. (AP Photo/Ahn Young-joon)
