Wall Street Breakfast Return of the SPAC King
10 snips
Aug 19, 2025 Chamath Palihapitiya is back with a new SPAC focused on sectors like energy and AI. Home Depot updates on consumer trends as big projects wait in the wings. Viking Therapeutics sees a significant drop after disappointing weight-loss pill data. Insights into financial pressures from various companies are discussed, alongside strategies for a potential market recovery. The episode also sheds light on promising stocks and funding successes in the tech space.
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Approach The SPAC With Caution
- Palihapitiya warns retail investors to approach this SPAC with caution because it will target a single operating company.
- He recommends the vehicle is more suitable for institutional investors given concentration risk.
Chamath Returns To SPACs
- Chamath Palihapitiya is relaunching a $250M SPAC called American Exceptionalism Acquisition Corp focused on AI, crypto, energy, and defense.
- The SPAC will list at $10 on the NYSE and will not issue warrants, signaling a different investor structure.
Home Depot Sees Small Projects Only
- Home Depot reported a 4.8% revenue rise to $45.3B but missed comp-sales expectations with only a 1% increase.
- CFO Richard McPhail said consumers are doing small projects while larger projects remain on hold due to high rates and uncertainty.