Markets
Correction continues as news flow in. $AAPL plans for a $500b investment in Texas, while also increasing investment in $NVDA ‘s plant in the States. Pressure mounting on AI and chip making as it was disclosed that $MSFT had cut off some data center leases. Semiconductor stocks were hammered, with Nvidia, Broadcom, Qualcomm, AMD all sliding around 3%. At the UN was a rare sight where the US sided with Russia and North Korea objecting to a condemnation directed towards Russia for starting the war. $BRK rose 4% with positive earnings, $PLTR fell 10% with more investors realizing profits.
Headlines
• Apple to invest $500bn in US expansion, adding 20,000 jobs and AI facilities
The new facility will be in Houston, Texas.
• Microsoft data center leases slowing, analysts say, raising investor attention
$MSFT canceled leases totaling several hundred megawatts.
• U.S. Votes Against U.N. Resolution Condemning Russia for Ukraine War
US sides with Russia, Belarus and North Korea, at the UN.
• Trump Backs Musk’s Email Asking Federal Workers to List Accomplishments
“If you don’t answer, like you’re sort of semi-fired, or you’re fired because a lot of people are not answering because they don’t even exist,”
• Starbucks to Lay Off More Than 1,000 Workers
• Trump says tariffs on Canada and Mexico ‘will go forward’
• Palantir drops 10% for worst day since May as investors continue dumping onetime market favorite
Shares fell 24% in the last 5 days
• How AI is speeding the mining of valuable metals needed to power the clean economy
Kobold Metals, VerAI and Earth AI will let AI look for deposits, and drill a tennis-ball sized hole to verify.
• Anthropic says it’s released its ‘most intelligent’ AI model yet as competition ramps up
Claude 3.7 Sonnet. While reasoning feature in the market will pause to think, this model will reason while continually talking.
• US tells federal agencies they can ignore Musk ultimatum
Some agencies told its workers to ignore, some to answer.
• Analysis-Chinese rivals to Musk’s Starlink accelerate race to dominate satellite internet
China launched 263 LEO satellites in 2024. Shanghai based SpaceSail is in talk with countries to extend operation.
• Stock market today: S&P 500 falls as Nvidia slides ahead of earnings
$SPX fell 0.5%.
• Oil settles higher on fresh Iran sanctions, Iraq commitment to OPEC+
Some say peace talk in Ukraine will still pressure oil prices.
• Macron Corrects Trump on Ukraine Aid During White House Talks
Macron says only 40% of aid provided by the French is in the form of a loan. 60% was out-of-pocket.
