🤖 OpenAI with yet another customer

Good evening. A reassuring post from Trump on Truth Social (“Don’t worry about China, it will all be fine”) helped calm investors and lifted major indexes. Tech names like Oracle, AMD, and Nvidia led the rally as traders bet on a truce between Washington and Beijing after last week’s tariff jitters.

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Market data: today’s market close

WINNERS

⬆︎26.52% Bloom Energy

The clean power company just landed a major deal with Brookfield Asset Management to supply energy for AI data centers. Brookfield plans to invest up to $5B to roll out Bloom’s fuel-flexible technology, which can run on natural gas, hydrogen, or biogas. The two companies will co-develop “AI factories” around the world (off-grid power hubs). [Read more]

⬆︎25.02% Rigetti
⬆︎23.02% D-Wave
⬆︎16.19% IonQ

JPMorgan announced a new $10B plan to invest in technologies it sees as vital to U.S. national security. The bank’s “Security and Resiliency Initiative” will back companies in four key areas, and of course, one of them is quantum computing. CEO Jamie Dimon said the move is meant to reduce America’s reliance on “unreliable sources” of critical materials and innovation. [Read more]

⬆︎9.88% Broadcom

OpenAI just made its partnership with chipmaker Broadcom official, and it’s a massive one. The two companies are teaming up to build 10 gigawatts of custom AI accelerators, marking a major step in OpenAI’s push to scale its computing power. These next-gen systems will include chips, networking, and memory. All optimized for OpenAI’s workloads and built on Broadcom’s technology. [Read more]

⬆︎5.81% Estee Lauder

After a rough stretch, the beauty empire behind MAC, Clinique, and La Mer is finally winning back Wall Street’s confidence. Goldman Sachs upgraded the stock to Buy and raised its price target to $115 from $76. The bank pointed to stabilizing sales in China, a rebound in travel retail, and improving U.S. market share after years of declines. [Read more]

⬆︎3.98% Warner Bros.

Hollywood’s next big merger might have to wait. Warner Bros. Discovery (also the media powerhouse behind HBO and CNN) reportedly turned down a takeover offer from David Ellison’s Paramount Skydance valued at about $20 per share, calling it too low. [Read more]

MORE WINNERS

⬆︎292.90% Solidion
⬆︎55.41% Critical Metals
⬆︎21.14% Navitas

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Market data: today’s market close

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LOSERS

⬇︎6.15% Wynn
⬇︎6.33% Las Vegas Sands

Macau’s casino recovery hit a bump in September as bad weather temporarily shut down operations, cutting into monthly gaming revenue. Gross gaming revenue came in at about $2.27B (down sharply from August’s high). Two typhoons forced a rare 33-hour closure of casinos, underscoring how vulnerable the world’s biggest gambling hub remains to external shocks. [Read more]

⬇︎48.51% Beyond Meat

Beyond Meat just pulled off a massive debt swap that will dramatically dilute existing shareholders. Nearly all of its creditors agreed to exchange debt for equity, a move that helps the struggling company cut debt and buy time. The deal could result in more than 300 million new shares being issued, with bondholders ending up owning about 88% of the company. [Read more]

MORE LOSERS

⬇︎4.30% Ferrari
⬇︎7.54% Fastenal
⬇︎13.14% Scholar Rock

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Market data: today’s market close

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