UBS (NYSE: UBS) downgraded U.S. equities to “benchmark” in its fully invested global portfolio, citing weakening currency dynamics, elevated valuations and increased policy uncertainty. Andrew Garthwaite, the bank’s head of global equity strategy, said the forces that supported years of U.S. stock outperformance are diminishing. A central concern is the outlook for the U.S. dollar. UBS expects the euro to rise to $1.22 by the end of the first quarter and warned of “asy...
OpenAI on Friday announced a $110 billion funding round, marking the largest private capital raise in history and underscoring the scale of investment now flowing into artificial intelligence infrastructure. The round includes $50 billion from Amazon, $30 billion from Nvidia and $30 billion from SoftBank. The financing values the company at roughly $840 billion pre-money, a sharp increase from its $500 billion valuation in a secondary transaction last October. Additional investors are expecte...
Netflix just looked at a $111 billion bar tab… and said, “Yeah, we’re good.” After months of Hollywood chest-thumping, White House field trips, and fighting against the world’s biggest nepobaby (read: David Ellison)... Netflix officially walked away from its deal for Warner Bros. Discovery. Why? It’s actually pretty simple… because Paramount Skydance rolled up with a bigger suitcase of cash. Earlier this week, Paramount bumped its all-cash...
CoreWeave (NASDAQ: CRWV) shares fell sharply Thursday after the artificial intelligence cloud provider projected first-quarter revenue below analyst expectations, with the stock down approximately 18% on the day. The company reported a fourth-quarter net loss of $0.89 per share, wider than the $0.49 loss anticipated by analysts surveyed by LSEG. Revenue increased 110% year over year to $1.57 billion, modestly above the $1.55 billion consensus estimate. For the current quarter, CoreWeave forec...
I’ve got this rule (and it’s probably more psychological than strategic) but anytime we get a big, ugly, “blood in the streets” kind of red day… I buy the f***ing dip like my life depends on it. Partly because there’s usually a silver lining hiding somewhere in the rubble. And partly because smashing the “buy” button feels healthier than stress-eating and doom-scrolling Fed speeches at 11:47 p.m. So if we’re choosing to view this throu...
“You sit on a throne of lies” - Jensen Huang, probably About five months ago, Sam Altman had every OpenAI seed investor pounding nose beers after he stood in front of the world and said OpenAI was going to spend $1.4 trillion on infrastructure (read: Nvidia chips) by 2030. Fast forward today, and it appears @sama lied out of his a$$. (Source: Giphy) In short, out goes the $1.4 trillion number and in comes the new $600 billion number. For those keeping score a...
eBay is cutting staff again (about 800 roles, or roughly 6% of its workforce) as it reshapes the company around artificial intelligence and what it calls “strategic priorities.” The reductions span the company and are described as an effort to reinvest resources and reduce duplication. In practice, that means some teams will shrink while others (particularly those tied to AI) receive more support and funding. “We are taking steps to reinvest across our business and align...
Comparison is the thief of joy… and for Novo Nordisk it also happens to be the thief of shareholder money… If you’re one of those unlucky people who’s always being compared to your trophy brother (or sister) every minute of the day growing up… then you might belong in a therapy session with the company that got Meghan Trainor to forget about “all that bass” and turn into a twig (read: Ozempic). (Source: Hindustan Times) While you were likel...
OpenAI on Friday announced a $110 billion funding round, marking the largest private capital raise in history and underscoring the scale of investment now flowing into artificial intelligence infrastructure. The round includes $50 billion from Amazon, $30 billion from Nvidia and $30 billion from SoftBank. The financing values the company at roughly $840 billion pre-money, a sharp increase from its $500 billion valuation in a secondary transaction last October. Additional investors are expecte...
Jensen Huang: Despite the Trumpster cockblocking us from the gold mine that is Chinese revenue… we still nearly doubled our profits. Are you not entertained? Wall Street: Best I can do is a $250 billion selloff and unreasonable expectations. Well… I’m beginning to suspect that a Nvidia earnings day (no matter how violently impressive the numbers are) now automatically triggers a sell button somewhere deep inside Wall Street’s reptile brain. And luckily for...
“I don’t want to play with you anymore… “ Donald Trump is gonna Donald Trump and right now he’s reshuffling the deck while everyone's still trying to figure out the last hand. In short, Trump Media & Technology Group announced Friday it's in talks to spin off Truth Social into its own standalone, publicly traded company. If you're keeping score at home, this is the same TMTG that announced a $6 billion merger with TAE Technologies… a nucle...
“Some of you may die, but that’s a sacrifice I’m willing to make…” -Jack Dorsey, shortly before sending out a 2-word mass email to employees Apparently the fastest way to add $10 billion in market cap these days… is to fire half your workforce and whisper “AI” into the earnings call microphone. Block shares catapulted as much as 24% after the Square-maker announced it’s laying off more than 4,000 employees… nearly HALF its head...
Jensen Huang: Despite the Trumpster cockblocking us from the gold mine that is Chinese revenue… we still nearly doubled our profits. Are you not entertained? Wall Street: Best I can do is a $250 billion selloff and unreasonable expectations. Well… I’m beginning to suspect that a Nvidia earnings day (no matter how violently impressive the numbers are) now automatically triggers a sell button somewhere deep inside Wall Street’s reptile brain. And luckily for...
eBay is cutting staff again (about 800 roles, or roughly 6% of its workforce) as it reshapes the company around artificial intelligence and what it calls “strategic priorities.” The reductions span the company and are described as an effort to reinvest resources and reduce duplication. In practice, that means some teams will shrink while others (particularly those tied to AI) receive more support and funding. “We are taking steps to reinvest across our business and align...
Melania 2 may come early… In case you missed it, Ted Sarandos is flying to the White House today to talk about the WBD deal, five days after Trump publicly told Netflix to fire a board member or "pay the consequences." Read that again if you need to. (Source: Giphy) In short, the whole Netflix-Paramount-WBD cage-match has officially left the red room and entered the West Wing, which… shouldn’t surprise investors even a little. But the spe...
IMHO, Salesforce earnings felt like the brief moment in between water boards… I can only imagine that Marc Benioff is getting his Pete Weber on after Salesforce's earnings… especially considering the company just posted its best growth in two years… 12% YoY revenue, a clean beat on both lines. (Source: Giphy) Meaning, in the new age of Saas is dead, this qualifies as a miracle. For instance, adjusted EPS came in at $3.81 versus the $3.04 th...
Nvidia investors checking their brokerage accounts today like: “Wait… I thought we were supposed to be in the AI bubble hangover phase?” Instead, the leather snakeskin jacketed GPU king rolled up to earnings and dropped a $215.9 BILLION annual revenue mic. Despite months of “AI is overbuilt,” “capex is peaking,” and “circular financing boogeyman” chatter… Nvidia posted record revenue and beat across the board. Q4 revenue jum...
I don’t know what you guys are whining about… we did set a new company record, that’s got to count for something right? -Stellantis CEO on earnings call Golf clap, please. Give it up for the fine folks at Stellantis, who just managed to accomplish two things at once: deliver the company’s first annual loss ever… and cement their place in the EV hype cycle hall of fame (these are not easy things to do). And in case you’re wondering how bad the da...
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