Core Insights - Pony.ai and WeRide experienced significant share price drops of over 12% and nearly 8% respectively upon their trading debut in Hong Kong, despite raising substantial funds in their IPOs [1][2] Company Developments - Pony.ai raised 6.71 billion Hong Kong dollars (approximately $860 million) while WeRide raised HK$2.39 billion in their initial public offerings [1] - Both companies plan to utilize the funds for scaling operations and advancing Level 4 autonomous driving technology, which allows for driving without human intervention in specific environments [2] Strategic Expansion - WeRide's CEO indicated that the fundraising will also enhance the company's AI capabilities and data center capacity [3] - The companies are looking to expand their operations beyond China into regions such as the Middle East, Europe, and Singapore, although they have not yet secured full approvals for robotaxi operations in these areas [4] U.S. Market Challenges - Plans to enter the U.S. market face challenges due to a recent government rule banning Chinese technology in connected vehicles, including self-driving systems [5] - The dual listing in Hong Kong is seen as a strategy for risk mitigation amid global market uncertainties and scrutiny regarding their entry into the U.S. [5][6]

Microsoft President Brad Smith speaks at a press conference at the Representation of the State of North Rhine-Westphalia about future visions for the development and application of artificial intelligence in education in NRW in Berlin on June 4, 2025.Microsoft is giving employees a way to raise concerns about the uses of its technology after controversy emerged over the company's work in the Middle East. An internal portal for Microsoft's 200,000-plus workers now includes an option to request a "Trusted Tec ...

Market Overview - Asia-Pacific markets experienced gains, influenced by Wall Street's performance following AMD's strong third-quarter earnings, which positively impacted artificial intelligence stocks [1] - Japan's Nikkei 225 index increased by 1.45% at the open, while the Topix index rose by 0.98% [2] - South Korea's Kospi index surged by 2.5%, recovering from previous declines, and the small-cap Kosdaq was up by 2.01% [2] - Australia's ASX/S&P 200 index saw an increase of 0.58% [2] IPO Activity - Pony.ai set its final IPO offer price at 139 Hong Kong dollars per share, raising gross proceeds of HK$6.7 billion (approximately $860 million) [2] - WeRide successfully raised HK$2.4 billion through its market debut [2] - Both WeRide and Pony.ai are already listed in the United States and are making their market debut in Hong Kong [1]

CNBC's Jim Cramer offered advice on how to deal with declines, using Tuesday's down session as an example. He encouraged investors to use widespread losses as a buying opportunity, pointing out that the indexes managed to rebound on Wednesday."If you trust the market, if you don't believe that one stock controls the entire tape, if you don't take counsel of your fears and you do take counsel of your opportunities," he said. "A day like yesterday can be the way you finally get a chance to start wading in — n ...

Core Insights - DoorDash reported third-quarter earnings that fell short of analyst expectations, leading to a 20% drop in stock price following the announcement [1] - The company anticipates spending "several hundred million dollars" on new initiatives and development in 2026, emphasizing the need for investment to foster growth [1] Financial Performance - Revenue increased by 27% year-over-year, reaching $3.45 billion, surpassing the expected $3.36 billion [2][3] - Net income for Q3 was $244 million, or 55 cents per share, compared to $162 million, or 38 cents per share, in the same quarter last year [2] - Total orders grew by 21% year-over-year, totaling 776 million, slightly above the expected 770.13 million [2]

Core Insights - Snap Inc. reported third-quarter earnings that exceeded analysts' expectations, leading to a more than 20% increase in share price, alongside a $500 million stock repurchase program [1] - The company announced a partnership with Perplexity AI, which will integrate conversational search into Snapchat, with expected revenue contribution starting in 2026 [2][3] Financial Performance - For Q3, Snap's sales grew by 10% year-over-year, reaching $1.51 billion, compared to the expected $1.49 billion [3][8] - The net loss for Q3 was $104 million, an improvement from a net loss of $153 million in the same quarter last year [3] - Adjusted EBITDA for Q3 was $182 million, surpassing the projected $125 million [3] - For Q4, Snap anticipates sales between $1.68 billion and $1.71 billion, with a midpoint of $1.695 billion, slightly above Wall Street's expectation of $1.69 billion [2][4] User Metrics and Engagement - Snap reported 477 million global daily active users, slightly above the expected 476 million [8] - The global average revenue per user (ARPU) was $3.16, exceeding the expected $3.13 [8] - The company warned that new regulations, particularly regarding age verification, could negatively impact user engagement metrics [4][5][6] Regulatory Environment - New laws in Australia and the U.S. are set to impose penalties on social media companies for failing to prevent underage users from accessing their platforms [5][6] - Snap is preparing for upcoming platform-level age verification measures from Apple and Google, which may further affect user metrics [6][7] Market Context - The earnings report comes amid a broader trend where major tech companies like Meta, Alphabet, and Amazon have reported strong digital advertising sales [10] - Snap's challenges with user engagement metrics are contrasted with the robust performance of other tech firms in the digital advertising space [9][10]

Core Insights - Robinhood exceeded Wall Street expectations for Q3, marking a significant performance in the tech sector this year [1] - Revenue doubled year-over-year to $1.27 billion, with net income rising to $556 million, or 61 cents per share, compared to $150 million, or 17 cents per share in the same quarter last year [1][4] Financial Performance - Transaction-based revenue was reported at $730 million, slightly below the estimate of $739 million [2] - Earnings per share were 61 cents, surpassing the expected 53 cents [4] - Total revenue of $1.27 billion exceeded the expected $1.19 billion [4] Business Diversification - The company is diversifying its business by adding new lines such as Prediction Markets and Bitstamp, which are generating approximately $100 million or more in annualized revenues [2] - Robinhood is expanding beyond retail trading into full-scale wealth management, closing the gap with competitors like Coinbase [3] Competitive Strategy - The company is actively offering deposit matches to attract clients from established firms like Fidelity and Schwab [3] - Assets under management have increased following the acquisition of TradePMR [3]

Core Insights - Figma's shares surged 229% after raising $1.2 billion in an IPO, valuing the company above $20 billion, which was previously tied to a now-scrapped merger with Adobe [1] Financial Performance - Figma reported a 38% year-over-year revenue growth in Q3, with revenue reaching $274.2 million, surpassing the expected $265.2 million [2][5] - The company's net loss increased significantly to $1.10 billion, or $2.72 per share, compared to a loss of $15.6 million, or $0.07 per share, in the same quarter last year [2] Adjusted Metrics - The adjusted earnings per share were reported at 10 cents, excluding a significant rise in stock-based compensation expenses [3][5] - Figma achieved an adjusted operating margin of 12%, exceeding the StreetAccount consensus of 6.5% [3] Product Adoption - Growth was partly driven by the adoption of Figma Make, which utilizes generative AI for app design, with about 30% of customers spending over $100,000 annually using it weekly [3][4]

Core Insights - Lucid Group missed Wall Street expectations for the second consecutive quarter, primarily due to challenges with the launch of its new flagship Gravity SUV [1] Financial Performance - The company reported a net loss of $978.4 million, or $3.31 per share, compared to a net loss of $992.5 million, or $4.09 per share, in the same period last year [1] - Adjusted for one-time items, the loss per share was $2.65, which was higher than the expected loss of $2.27 [6] - Quarterly revenue increased by approximately 68% to $336.6 million from $200 million a year earlier, but fell short of the expected $379.1 million [2][6] - Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was a loss of $717.7 million, wider than the expected loss of $597.4 million, marking a 17% year-over-year increase in losses [3] Liquidity and Financing - Lucid has agreed to increase a delayed draw term loan credit facility from $750 million to approximately $2 billion from Saudi Arabia's Public Investment Fund, its largest shareholder [4] - The company reported total liquidity of $5.5 billion at the end of the quarter, including the undrawn credit line, with cash and cash equivalents remaining roughly flat at $1.6 billion [4] - Lucid is exploring additional finance and liquidity options outside of the Public Investment Fund as it prepares to launch the Gravity SUV and develop a new midsize vehicle, which is not expected to start production until at least late next year [5]

Core Insights - Qualcomm reported fiscal fourth-quarter results that exceeded analyst expectations, with revenue increasing by 10% to $11.27 billion compared to $10.24 billion a year earlier, although the company recorded a net loss of $3.12 billion due to an income tax expense [1][5] - For the fiscal first quarter, Qualcomm anticipates revenue between $11.8 billion and $12.6 billion, surpassing the average analyst estimate of $11.62 billion, with adjusted EPS projected between $3.30 and $3.50 [2] Financial Performance - The company achieved adjusted earnings per share of $3.00, which was higher than the expected $2.88, and revenue of $11.27 billion, exceeding the forecast of $10.79 billion [5] - The net loss for the fourth quarter was $3.12 billion, or $2.89 per share, compared to a net income of $2.92 billion, or $2.59 per share, in the previous year [1] Market Position and Strategy - Qualcomm is facing the potential loss of Apple as a customer for its modem business and is diversifying its product offerings to include chips for Windows PCs, virtual-reality headsets, and smart glasses [3] - The company is focusing on opportunities in artificial intelligence, where it aims to compete against Nvidia and AMD, which currently dominate the processor market [3] Product Development - Qualcomm announced plans to release new AI accelerator chips, the AI200 and AI250, which are expected to be available in 2026 and 2027, respectively, and can be integrated into liquid-cooled server racks [4] - The new AI chips are designed to compete with Nvidia and AMD's offerings, which allow multiple GPUs to function as a single computer, catering to the needs of AI labs [4] Stock Performance - Qualcomm's shares have increased by 17% year-to-date, lagging behind the Nasdaq's 22% gain, while Nvidia and AMD have seen significant increases of 45% and 112%, respectively [5]