The Rundown

The latest market trends reveal the iPhone 17 as a driving force behind Apple's sales revival, thanks to strong demand and a fresh redesign. Kering, the owner of Gucci, has made waves by selling its beauty division to L'Oreal for $4.7 billion, indicating a shift in strategy under new leadership. Cleveland-Cliffs is enjoying sales growth from steel tariffs and plans for rare-earth mining. Additionally, Apple's exclusive F1 streaming rights aim to enhance its TV service while rebranding efforts streamline the user experience.

Praveer Melwani, CFO of Figma, has played a pivotal role in the company's recent IPO and offers insightful reflections on its first day and the overall IPO process. He discusses Figma's exciting integration with OpenAI's ChatGPT and how the company is shifting AI from a mere feature to a comprehensive business model. Praveer also shares thoughts on global expansion, the importance of localization, and how AI tools can enhance productivity without overshadowing creativity. His vision for Figma balances innovation with long-term growth strategies.

AMD is gearing up to challenge Nvidia's AI chip dominance. The discussion highlights AMD's three core business segments and the significant partnerships with OpenAI and Oracle. Excitingly, seven of the top ten AI model builders are already using AMD chips. The company is rolling out advanced products like the MI350 and MI450 aimed at AI workloads. However, there are concerns about Nvidia's powerful CUDA ecosystem and whether AMD can catch up. Lisa Su's leadership is a key focus, with the journey ahead filled with both promise and risks.

Recent market volatility stemmed from alarming loan disclosures at regional banks like Zions. Meanwhile, President Trump’s backtracking on China tariffs provided a temporary sigh of relief for investors. Micron’s withdrawal from China's data center market was a significant move affecting revenue forecasts. Additionally, Uber's innovative approach involves compensating drivers for tasks to aid AI training. The podcast wraps up with insights on potential railroad consolidation and Novo Nordisk's stock struggles amid pricing pressures.

The discussion explores Apple's challenges with AI talent as key team members depart for Meta. Insights into TSMC's record earnings highlight its dominance in AI chip manufacturing. There's a curious tale about PayPal's accidental minting of $300 trillion in USD tokens, showcasing the quirks of tech finance. The impact of US-China tensions and government shutdowns on data flows is also analyzed, alongside updates on Salesforce's ambitious revenue goals and United Airlines’ capacity expansion.

Discover how OpenAI's partnership with Walmart allows users to shop directly through ChatGPT. Get the latest insights on the stock market's reaction to Trump's trade comments and rising US-China tensions. Learn about Morgan Stanley's record revenue surge, driven by strong investment banking and trading. Plus, hear about the upcoming Netflix–Spotify deal that will bring video podcast content to the streaming giant. Tune in for all the buzz around the latest financial developments!

The podcast kicks off with an analysis of rising gold and silver prices driven by safe-haven investments amid market volatility. Key insights include strong earnings from major banks like JPMorgan and Goldman Sachs, showcasing their investment banking strength. Oracle's ambitious plan to deploy 50,000 AMD AI chips is also highlighted, indicating a push against competitors like NVIDIA. Meanwhile, the impact of U.S.–China tensions on the market creates uncertainty, alongside surging rare earth miners in response to export restrictions.

Today's market analysis dives into the fallout from Trump's tariff announcements, wiping nearly $2 trillion in value. OpenAI's partnership with Broadcom for custom chip development has sparked interest, while Beyond Meat faces a tumbling stock after a debt-for-equity swap. Discover how viral Bulldog noodles are boosting Samyang's stock this year. J.P. Morgan's massive $1.5 trillion initiative targeting various sectors also makes headlines, alongside updates on rising energy solutions with Bloom Energy's new deal.

Kyla Scanlon, an economic commentator analyzing tech impacts, joins Alex Heath, a tech reporter known for his insights on social media and AI. They dive into OpenAI's new social app, Sora, discussing its implications for AI monetization amid rising operational costs. The duo dissects the internal strife at OpenAI between research ambitions and the need for profit. With concerns over tech valuations and the threat of an AI bubble, they also explore how ongoing gold gains might signal deeper market shifts, leaving listeners pondering the future of AI.

AI's skyrocketing power needs are sparking a nuclear renaissance. As data centers demand more energy, nuclear stocks emerge as potential winners. The discussion highlights the Trump administration's plans to boost nuclear capacity and introduces innovative players like Oklo and NuScale, which are set to reshape the industry with fast and safer reactors. However, caution is advised due to concerns over safety and regulation. The show navigates the opportunities and risks in this rapidly evolving nuclear landscape.