TMTB EOD Wrap
QQQs +43bps. Yields flat to down. BTC +1.4% to $105k. PCE on the docket tomorrow pre-mkt.
WSJ reporting this afternoon that OpenAI in talks for raising $ at valuation of up to $340B as Softbank would put in $15-$25. One has to wonder how much of these discussions happened before last weekend. Last round they raised was back in October at $157B so this is more than 2x that:
The funding will be used in part to help OpenAI fulfill its roughly $18 billion commitment to Stargate, a joint venture with SoftBank and others to finance the construction of new data centers in the U.S. powering OpenAI’s technology. The startup also expects to use the cash to fund its money-losing business operations.
Trump back to his Tariff proclamations, this time saying 25% tariff on Mexico and Canada (Reuters) and more talk re: China. At this point need to see something signed to believe it.
Some solid price actions from semis today - Leaders strong and NVDA +1%finished in the green after being down 4.5% at one point. MBLY +2% after being down 15% at one point in the post yesterday. TER -6% rallying off the lows. Software was weak on the back of NOW’s results, but likely acts better tomorrow following TEAM’s print.
Let’s get to the recap…
Internet
GOOGL +3% as Techcrunch reporting Google issues ‘voluntary exit’ program for Android, Chrome, and Pixel employees. Investors took this as a positive sign for margins going forward. Stock also helped in sympathy with META’s given their strong Q4 ad results.
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