Alibaba Founder Jack Ma urges employees to correct the company's course. AWS CEO Adam Selipsky discusses the company's new chips. Apple offers Goldman Sachs an exit ramp for its troubled card partnership.
Alibaba founder Jack Ma has expressed concerns about rival companies like PDD and emphasized the need for necessary changes at Alibaba.
A senior portfolio manager from JP Morgan predicts a cyclical rebound in tech stocks driven by themes like artificial intelligence, while also anticipating a rotation towards neglected sectors and potential benefits for financials.
Apple has sent a term sheet to Goldman Sachs indicating potential plans to end their credit card partnership, suggesting Apple is exploring new opportunities for its credit card business.
Deep dives
Alibaba founder urges company to correct course
Alibaba founder Jack Ma has spoken out to his own employees, urging them to correct the company's course. He expressed concerns about rival companies like PDD and emphasized the need for Alibaba to make necessary changes. This comes after PDD reported strong results, which may have motivated Ma to address the future direction of Alibaba. The performance of PDD and its rapid growth in the domestic and overseas markets seems to have caused concerns about Alibaba's position and strategy.
JP Morgan senior portfolio manager discusses tech and financials
A senior portfolio manager from JP Morgan discusses the tech sector and financials. They believe that the global yield backdrop will stimulate a cyclical rebound in tech stocks, which have been driven by themes like artificial intelligence and supported by declining bond yields. However, they anticipate a rotation towards neglected sectors like smaller capitalizations and value-oriented sectors. They also highlight the potential benefits for financials due to the steepening yield curve and expected rate cuts.
Apple considers ending credit card partnership with Goldman Sachs
Apple has reportedly sent a term sheet to Goldman Sachs to potentially end their credit card partnership. The relationship between the two companies has been rocky, with Goldman Sachs struggling in the consumer business and facing challenges with the Apple card. Apple is looking for a strong partner in the credit card space and is exploring alternative options. While a deal is not imminent, the move suggests that Apple is considering new opportunities for its credit card business.
Stability AI explores potential sale amid investor pressure
Stability AI is reportedly exploring a potential sale due to increased investor pressure. One of the company's key investors sent a letter expressing concerns about the company's financial status and management compensation. The pressure to find a buyer has led Stability AI to reach out to companies like Kohler and Jasper, but there is no indication of a deal being imminent. The company has denied the sale rumors, stating that investors support the company's leadership.
Ox announces $190 million fund to support European SaaS startups
Ox has closed its second fund with $190 million to support European software as a service (SaaS) startups. The fund focuses on long-term creation and aims to avoid hype cycles. The success of the fund in a challenging economic environment demonstrates the growing recognition of Europe's potential in the SaaS market. The availability of talent, distribution capabilities, and scaling opportunities make Europe an attractive region for SaaS investments. Ox has a strong focus on AI as a foundational innovation in the software sector.
Bloomberg's Caroline Hyde and Ed Ludlow break down why Alibaba Founder Jack Ma urged employees to correct the company's course. Plus, AWS CEO Adam Selipsky talks about the company's new chips, and Apple offers Goldman Sachs an exit ramp for its troubled card partnership.
