Wall Street Breakfast Half a trillion and counting
Oct 2, 2025
OpenAI has skyrocketed to a $500 billion valuation, overtaking SpaceX. Meanwhile, the White House freezes $26 billion in funding for infrastructure and climate projects due to DEI reviews. Amazon is shaking things up by launching a budget grocery brand to compete with Costco and Walmart's popular labels. Other highlights include a pause on the Apple Vision Pro sequel and Trump reconsidering pharma tariffs as negotiations continue. Stay tuned for market updates and stock movers!
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OpenAI Hits $500B Valuation
- OpenAI reached a $500 billion valuation after a significant employee share sale finalized with Microsoft backing.
- The company previously sat at $300 billion, signaling rapid private-market revaluation.
$26B In Federal Funding Frozen
- The Trump administration paused roughly $18 billion in NYC infrastructure projects citing unconstitutional DEI concerns amid a federal shutdown.
- About $8 billion in climate-related DOE awards were also targeted for cancellation after financial reviews deemed them not viable.
Monitor Amazon's New Private-Label Push
- Watch retail private-label moves as Amazon consolidates Fresh and Happy Belly into Amazon Grocery to compete on price and ratings.
- Evaluate portfolio exposure to grocers and retailers facing pressure from low-cost national private labels.