markets

Luke Kawa12/17/25

Amazon in talks to invest upward of $10 billion in OpenAI at a valuation of more than $500 billion, per reports

Amazon is in discussions to invest in OpenAI, according to multiple reports.

The e-commerce and cloud computing giant could put $10 billion or more toward an equity position in the ChatGPT maker at a valuation of more than $500 billion, as first reported by The Information. The two sides are discussing having OpenAI use Amazon’s Trainium chips, and other potential collaborations in e-commerce as a part of this deal, the reports say.

Marvell Technology, which has been involved in the design process for Trainium and told JPMorgan analysts that it’s secured purchase orders for all of calendar year 2026 for these chips, is up about 3% in the premarket session.

What may potentially complicate or limit the extent of any partnership between OpenAI and Amazon is that Microsoft retains Azure API exclusivity for OpenAI’s models for now, thereby curbing Amazon Web Services’ ability to provide that access to its customers. However, non-API products can be served through any cloud company, and OpenAI is able to train models using Amazon’s computing power, based on the terms of its amended agreement with Microsoft announced in October.

Amazon has also invested in Anthropic, the maker of Claude.

CoreWeave and Oracle, two OpenAI-linked stocks that have gotten shellacked lately, were also up about 2% and 1.2%, respectively, in premarket trading.

The thinking here: OpenAI burns a lot of cash, and money is fungible. The privately held company getting its hands on more cash is presumably good news for all its vendors.

However, those gains evaporated and turned to losses after the Financial Times reported that Oracle’s data center partner, Blue Owl, will not fund a planned $10 billion facility in Michigan.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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