Strategic Partnerships & Financial Backing - Hut 8 emphasizes the importance of creditworthy counterparties, viewing Google as a highly credible investment-grade partner due to its diverse business operations and cash flow [2] - Google serves as a financial backstop for a 15-year commitment, providing confidence in data center construction and deployment for various tenants [3] - JP Morgan and Goldman Sachs are partners, providing project global financing up to 85% at SOFR plus 225, indicating strong credit counterparty assessment [8][9] Business Diversification & Infrastructure Development - Hut 8 is building an energy infrastructure platform supporting both Bitcoin and AI compute, diversifying its revenue streams [3] - The company spun out American Bitcoin as a separate public entity, continuing to operate data centers for both AI and Bitcoin compute [4] - Hut 8 is developing a 1 gigawatt project in Corpus Christie (Lawn Hill), initially underwritten for Bitcoin compute, but now attracting interest from AI customers [6] Market Demand & Competitive Advantage - Hut 8 perceives distinct demand types for Bitcoin and AI compute, with Bitcoin data centers willing to locate in areas with curtailment options [4][5] - The demand from American Bitcoin allows Hut 8 to underwrite new megawatts that might not be feasible for AI data centers alone [5] - Securing competitive financing terms (SOFR plus 225) and a high loan-to-cost (LTC) percentage demonstrates the attractiveness of the credit counterparty [8][9]

Investment & Partnership - Amazon is considering an equity investment of at least $10 billion in OpenAI [1] - This investment would exceed Amazon's commitment to Anthropic [2] - The potential investment values OpenAI above $500 billion and below $1 trillion [2] - OpenAI gains freedom to partner across the ecosystem after corporate restructure and reset of commercial terms with Microsoft [2] Technology & Infrastructure - OpenAI is in discussions to potentially use Amazon's Tranium chips [3] - AWS aims to build a market for its in-house silicon with Tranium chips [3] - AWS rolled out two new Tranium generations, pitching them as a cheaper option for AI workloads [3] - OpenAI signed a $38 billion deal with AWS cloud with room to expand [4] - OpenAI seeks to reduce costs as its compute bill increases, making Tranium's lower price a major incentive [4] Competitive Landscape - The potential deal represents a significant upgrade in the Amazon-OpenAI relationship [1] - It positions AWS as a viable alternative to NVIDIA [1] - The situation reflects a big tech proxy war, with Microsoft and Google getting closer to Anthropic [4]

Hey, Kelly. So, this is a win-win for both Amazon and OpenAI. Now, for Amazon, it is about redemption.Anthropic had been its marquee AI partner, running its cloud models on Amazon's in-house AI chips. But lately, the startup has been signing new compute deals with Microsoft and Google, and that's been a reputational hit for Amazon and especially for its trrenium chips, which still are viewed, which are still not viewed as best-in-class on performance. Now, as for what OpenAI gets out of this, it's all about ...

Market Trends - Silver prices reached a record high of $67 per ounce [1] - Gold prices are around $4,300, up 65% this year [1] - Commodities are a good investment when the dollar weakens [3][6] - Investors are using commodities as a hedge against potential inflation and a weaker dollar [5][6] Company Specific - Freeport is highlighted as a potentially good play due to copper demand [2][3][4] - Freeport is considered a good steward of capital [4] Macroeconomic Factors - A weaker dollar and potential interest rate cuts next year are contributing to the rise in metal prices [5] - Inflation is a factor driving investment in commodities [5][6] - There is a global shortage of copper [3] - No new copper mines have been built in 10 years [4]

>> ALL RIGHT WELCOME BACK GOLF FANS. GET READY FOR SOME PRIME TIME ACTION TONIGHT AS THE INAUGURAL GOLF CHANNEL GAMES TEES IT UP DOWN IN JUPITER, FLORIDA. THE MADE FOR TV EVENT PITS TWO TEAMS CAPTAINED BY RORY MCILROY AND SCOTTIE SCHEFFLER IN FIVE TOTAL COMPETITIONS.AND IN ADDITION, TODAY, WHICH IS CNBC'S PARENT COMPANY, IS ANNOUNCING A LONG TERM PARTNERSHIP EXTENSION WITH RORY AND THE LAUNCH OF A NEW PRODUCTION VENTURE. RORY JOINS US NOW, ALONG WITH ANDERSONS, PRESIDENT OF DIGITAL PLATFORMS AND VENTURES, W ...

How about Robin Hood today taking another step further into prediction markets. Mackenzie Sagalas is following that story for us. Had shares on the move a little bit earlier today.Mac, >> hey Scott. So this is all about Robin Hood making prediction markets a much bigger priority now that it's the fastest growing product line in the company's history. The big change here is that Robin Hood is moving closer to the sportsbook model, letting users trade what amount to parlay and prop bets on NFL games and playe ...

Market Trends & User Behavior - Prediction market business presents upside for the fintech space, with Robinhood and Coinbase users nine times more likely to participate than non-users [1] - Survey data indicates that users betting on sports are the same people buying equities and crypto [2][3] - Gen Z views buying crypto as investing, and potentially sports betting as investing as well [5] - Combining investing, prediction markets, and sports betting may blur the lines between wealth building and gambling [6] Regulatory & Risk Considerations - The new administration's policies may be contributing to the ease of access to crypto and gambling/betting [2] - Concerns exist regarding the lack of guardrails and potential regulatory changes in the future that could separate these activities [7] - Sports betting carries risks and enters users into the gambling world [6] Company Strategy & Financial Implications - Robinhood and Coinbase aim to provide a one-stop shop for users betting on sports, crypto, and equities [8] - Robinhood's numbers are projected to increase by 6-7% due to the launch of sports betting on the platform [8] - 37% of the average Coinbase user is likely to sell crypto rather than put in fresh money for sports betting, potentially leading to self-cannibalization [9] - Caution is advised regarding Coinbase's entry into betting/prediction markets due to potentially dilutive take rates compared to crypto [10]

Lawmakers are racing against the clock to try to reduce the cost of healthare. And that's because those Affordable Care Act tax credits, they're set to expire at the end of the year. And that means for the 22 million Americans who use them, their healthcare premiums are set to more than double.Interesting development today. There's been a lot of gridlock on this, but you saw four Republicans break with their party, cross the aisle, and join Democrats on a three-year extension of these Affordable Care Act ta ...

The largest IPO of the year, Medline, opening for trading about 15 minutes ago at $35 per share. That's up more than 20% from its IPO price of $29 per share. The company, which makes supplies products uh supplies and products used in labs and surgeries, sold more shares than initially planned in an upsized deal, more than $6 billion worth.Medline has been private for 58 years with most of its tenure familyowned until its buyout by a consortium of private equity firms in 2021. The IPO market cap is about 20 ...

We're watching shares of Oracle, which are lower today on these reports that Blue Owl Capital will not finance their $10 billion data center project in Michigan, a Financial Times report. It comes as investors have been raising all these different red flags about the AI data center buildout. Oracle shares are down four and a half%.But there's a real estate angle here as well. Diana Olic has that story for this week's property play. Diana, well, Kelly, investors are increasingly concerned about hyperscalers ...