So another day, another deal that this time Nvidia seems to be in keeping with that. What do we know. According to our own reporting, this obviously is a Bloomberg scoop.Yeah, it's a Bloomberg scoop and it's been very well read today as well. So it tells you there's a lot of interest. Again, to your point, we've just seen deal after deal after deal being struck in the ai infrastructure space in particular.But what we've got from sources here is that so xAI we knew that were looking to do some fund raising. ...

Federal Reserve and Economic Indicators - Stephen Miran, the new Fed governor, will speak in New York, with Fed Chair Jerome Powell following on Tuesday, as markets await key inflation data on Friday [1][12] - A weak Personal Consumption Expenditures (PCE) report could increase the likelihood of another quarter-point rate cut in October, with Wall Street expecting September's PCE to show soft inflation [2][12] Gold and Cryptocurrency Market - Gold prices reached an all-time high of $3,750, driven by expectations of further Fed rate cuts before the end of 2025, while Bitcoin and other cryptocurrencies experienced significant declines, resulting in over $1.5 billion in losses for traders [3][11][12] Oracle Corporation Developments - Oracle's stock fell over 1% following the announcement of CEO Safra Catz's resignation, with the company appointing two new co-CEOs, Clay Magouyrk and Mike Sicilia, as part of a succession plan [5][13] - Earlier, Oracle shares rose due to news that the company will manage TikTok's algorithm in the US and store American user data, which is expected to positively impact Oracle's revenue from TikTok [7][13] Pfizer Acquisition - Pfizer announced its acquisition of Metsera, a weight-loss drug company, for $7.3 billion, with Metsera's stock soaring over 60% in premarket trading following the news [8][13] - Under the agreement, Pfizer will pay $47.50 per share for Metsera, valuing the company at $4.9 billion, with potential additional payments based on clinical and regulatory milestones [9][13] Market Sentiment and Upcoming Reports - Investors are closely monitoring Micron Technology's earnings report for insights into AI chip demand and Costco's results for consumer spending trends, alongside the University of Michigan's consumer sentiment index due Friday [10][13]

The most pressing set of questions for financial analysts concerns the tech giants’ assets—specifically, the longevity of all those fancy AI chips they are installing in their data centres https://t.co/NrQaM2eelc ...

Key Industry Takeaways from Nvidia’s $5 Billion Investment in Intel1. Partnership Could Define and Accelerate the AI PC LandscapeFor Nvidia, developing its own Windows-on-ARM processors carries high uncertainty; for Intel, establishing a competitive edge in GPUs is difficult. Teaming up (CPU + GPU) could create powerful synergies and advantages across the PC ecosystem.2. Significant Synergistic Potential in x86 / Mid & Low-Range / Inference AI ServersA key trend ahead is enterprises building x86-based / mid ...

Core Viewpoint - Nvidia is facing increased pressure on its sales in China due to a reported ban by the Chinese government on its largest tech firms from purchasing Nvidia AI chips, specifically the RTX Pro 6000D, which was tailored for the Chinese market [2][3][7]. Group 1: Impact on Nvidia - Shares of Nvidia fell approximately 3% following the news of the ban, despite having risen about one-third earlier in the year [2]. - The Cyberspace Administration of China has instructed major companies like ByteDance and Alibaba to cease testing and orders of Nvidia's latest chip [3][7]. - Nvidia's CEO Jensen Huang expressed disappointment regarding the ban, indicating that the company remains patient and supportive of the Chinese market [5][6]. Group 2: Regulatory Context - The new ban is reportedly more stringent than previous guidance, which had focused on limiting the use of an earlier version of Nvidia's AI chip, the H20 [4]. - The Chinese government has concluded that domestic chips are now performing comparably to Nvidia's chips that are permitted under existing export controls [3][4]. - The ban follows accusations from China against Nvidia for antitrust violations, indicating a broader regulatory scrutiny [4].

Upgrades - Loop Capital upgraded Union Pacific (UNP) to Hold from Sell with a price target of $227, up from $214, noting that the shares are down 5% year-to-date and valuation multiples are modestly above their five-year ranges [2] - BofA upgraded Prologis (PLD) to Buy from Neutral with a price target of $130, up from $118, highlighting improved conversion rates of new lease proposals into signed leases during Q3 compared to Q2, and an optimistic outlook for demand versus supply dynamics through 2026 [3] - Goldman Sachs upgraded Hershey (HSY) to Buy from Sell with a price target of $222, up from $170, citing a compelling risk/reward scenario following multiple guidance reductions over the past year [4] - Arete upgraded Baidu (BIDU) to Buy from Sell with a price target of $143, emphasizing the potential of Baidu's Kunlun chip venture to offset challenges in its online advertising business due to AI chip shortages in China [5] - Citizens JMP upgraded CoreWeave (CRWV) to Outperform from Market Perform with a price target of $180, projecting significant growth for its graphics processing unit-as-a-service business from $3B-$4B to an estimated $300B [4] Downgrades - TD Cowen downgraded Warner Bros. Discovery (WBD) to Hold from Buy with an unchanged price target of $14, expressing concerns about the stock's risk/reward profile following a recent rally and potential bid from Paramount Skydance [6] - Rothschild & Co Redburn downgraded Live Nation (LYV) to Neutral from Buy with a price target of $170, up from $144, indicating that margin expansion will slow from fiscal 2026, limiting upside potential to earnings estimates [6] - Stifel downgraded VF Corp. (VFC) to Hold from Buy with a price target of $16, up from $15, stating that the stock's risk-reward is now balanced after a 12.5% one-month return, despite a strong outcome from the $600M sale of Dickies [6] - JPMorgan downgraded Camp4 Therapeutics (CAMP) to Neutral from Overweight without a price target, noting that while the company has a cash runway into 2027, its lead program is in the early stages [6] - JPMorgan downgraded Neumora Therapeutics (NMRA) to Underweight from Neutral without a price target, citing a failed Phase 3 trial for its navacaprant treatment in major depressive disorder [6]

Five things to know ahead of today's opening bell. Chinese internet authorities have reportedly told the country's tech giants to stop buying all AI chips from Nvidia and to cancel existing orders. The FT says that this includes a new a new chip custom made for China.This is something that they apparently would like to see them buying Chinese-made chips instead. They think that they are equitable to the H2O or H20 chip coming from China. CNBC has reached out to Nvidia for comment.Mortgage rates dropping sha ...

Upgrades - Loop Capital upgraded Union Pacific (UNP) to Hold from Sell with a price target of $227, increased from $214, noting shares are down 5% year-to-date and valuation multiples are modestly above five-year lows [2] - BofA upgraded Prologis (PLD) to Buy from Neutral with a price target of $130, up from $118, citing improved lease conversion rates in Q3 compared to Q2 and positive demand-supply dynamics expected through 2026 [3] - Goldman Sachs upgraded Hershey (HSY) to Buy from Sell with a price target of $222, raised from $170, highlighting a compelling risk/reward scenario after multiple guidance reductions [4] - Arete upgraded Baidu (BIDU) to Buy from Sell with a price target of $143, emphasizing the potential of Baidu's Kunlun chip venture to offset challenges in its online advertising business [5] - Citizens JMP upgraded CoreWeave (CRWV) to Outperform from Market Perform with a price target of $180, projecting growth of its GPU-as-a-service business to an estimated $300 billion from $3 billion to $4 billion currently [4] Downgrades - TD Cowen downgraded Warner Bros. Discovery (WBD) to Hold from Buy with an unchanged price target of $14, expressing concerns about the stock's risk/reward after a recent rally [6] - Rothschild & Co Redburn downgraded Live Nation (LYV) to Neutral from Buy with a price target of $170, up from $144, indicating slower margin expansion and reduced earnings upside potential [6] - Stifel downgraded VF Corp. (VFC) to Hold from Buy with a price target of $16, increased from $15, stating that the stock's risk-reward is now balanced after a 12.5% one-month return [6] - JPMorgan downgraded Camp4 Therapeutics (CAMP) to Neutral from Overweight without a price target, noting early-stage challenges in its lead program despite a cash runway into 2027 [6] - JPMorgan downgraded Neumora Therapeutics (NMRA) to Underweight from Neutral without a price target, citing a failed Phase 3 trial for its treatment in major depressive disorder [6]

Market Dynamics - Broadcom's stock surged more than 9% to a new record after announcing a $10 billion order for AI chips, thought to be from OpenAI [1] - Nvidia's stock dropped more than 4%, marking its sixth down day in seven sessions, losing over 8% since its earnings report [2] - The semiconductor space experienced rotation, with Broadcom's gains potentially impacting other AI-related stocks [2][3] Company Performance & Outlook - Broadcom's AI spend is accelerating, reaching staggeringly large numbers [6] - Nvidia hinted at a future slowdown in its growth rate [7] - Broadcom's projected growth rate is higher, supporting a higher valuation [9] Investment Considerations - The market views Broadcom as having more growth potential compared to Nvidia [9] - Broadcom's stock closed on its intraday low after the news-related pop, indicating potential weakness [10] - Semiconductors, as a whole, have not exceeded their July highs [11][12]

Uh joining me now is top chip analyst Bernstein and Stacy Rasgen and Broadcom shareholder Blueline Capitals Bill Baroo. Thank you both for being here. Uh Stacy, there are, you know, reports out there that it's OpenAI that's working with Broadcom to develop a custom AI chip.What do what do you see as the implications of that. Yeah, you bet. So, by the way, it's it's been speculated. It's open AI. It's plausible.Whoever this is is moving very very quickly. um seems to sort of fit with their uh persona. Now, t ...