The Rundown

Lululemon is shaking things up with a new NFL apparel deal, aiming to boost male sales through athlete endorsements. In tech news, the anticipated TikTok sale is nearing completion, with key roles for Oracle and a majority stake in U.S. hands. Novartis is making waves by acquiring Avidity for $12B, focusing on RNA therapeutics. Meanwhile, a potential China-U.S. agreement on rare earths is creating uncertainty for U.S. miners. Lastly, the U.S. continues to dominate data center growth, driven by AI advancements.

Ara Kharazian, an economist at Ramp, dives into the world of tariffs and AI spending in American businesses. He analyzes data from 45,000 companies, revealing how tariffs are muted by policy complexities, with businesses adapting their supply chains accordingly. Kharazian discusses AI's rapid adoption across sectors like healthcare and construction, addressing whether it’s a bubble and the related productivity impacts. He also provides insights on the reliability of government data versus private datasets, highlighting spending patterns in cities known for corporate socializing.

Explore how the Trump Administration is strategically investing in national security sectors! Discover the motivations behind a $9 billion stake in Intel and the implications of prioritizing rare earth materials. Learn about the government's backing of lithium producers and how the market has reacted positively to these investments. Dive into the potential of quantum technology and the shift towards state-backed capitalism as the United States targets future industries like drones and advanced military tech.

Discover how Intel's recent revival signifies a rebound in PC demand and the importance of chipmaking for national security. Delve into Oracle's bold $38 billion push for AI data centers, exploring the potential risks tied to such significant debt. Hear about Ford's impressive Q3 results shadowed by supply chain challenges, plus Deckers' disappointing sales outlook. Finally, get the scoop on Nike's innovative Project Amplify, featuring motorized sneakers and intriguing consumer concerns over charging.

Market insights reveal Tesla's Q3 results with record vehicle sales but a 37% profit drop. Elon's ambitious push for robo-taxis and the Optimus robot takes center stage. In tech news, the US government may invest in quantum firms, sparked by Google's breakthrough in quantum algorithms. Meanwhile, Volvo surprises with a profit increase, and Moderna halts its CMV vaccine after disappointing trials. Finally, Amazon plans to automate warehouses significantly, potentially impacting over 500,000 jobs.

Gold experiences its biggest one-day drop since 2013, signaling a major shift in the market. Netflix faces a revenue miss due to a hefty tax hit but sees growth in ad sales. Novo Nordisk shakes up its entire board to refocus on its weight-loss drug rollout in the U.S. DraftKings makes waves with its purchase of Railbird to introduce a predictions app, navigating state gambling loopholes. OpenAI shakes up the landscape with its new ChatGPT Atlas browser, causing a stir for Google.

Market highlights reveal a rally following Trump's tariff threat. GM impresses with record EV sales and raises guidance, though profitability remains a challenge. Beyond Meat captures attention as a new meme stock despite shaky fundamentals. Coca-Cola reports solid earnings, benefiting from strategic pricing amid flat demand. Plus, the booming secondhand luxury market shows Gen Z's growing preference for resale platforms, reshaping traditional luxury sales. Tune in for insights on these hot topics!

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.