TechCheck

Softbank’s chip designer Arm is expected to file its F-1 for IPO today, revealing key finances and operations. But whether investors will buy its $64 billion pre-IPO valuation hinges on the filing showing that chip designer is truly at the center of the AI boom, as Softbank founder Masa Son claims, and not actually more like AI-adjacent. The listing would be the biggest in the U.S. in almost two years, and could jump start the IPO market.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Instacart is reportedly planning to go public in September, and though public markets haven't been kind to gig economy companies, Instacart may be different. It has already achieved GAAP net income on its ad business, and is building up a leadership team of advertising heavyweights. Plus, Softbank’s chip designer Arm could also file its prospectus next week, in what would be 2023’s largest IPO and another big boost for U.S. listings.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Information's Jessica Lessin calls it the Musk Distraction Machine - cage matches and incessant memes that are designed to distract us from focusing on what's really happening at his businesses of X, Tesla, and SpaceX - and she says, don't fall for it. Plus, Microsoft is struggling hard against Google in the search engine wars, with Bing just barely gaining market share since the beginning of the year. Deepwater’s Gene Munster thinks Google will be the clear winner in the AI race, especially with the tech giant’s Gemini model set to launch soon. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Intel is scrapping a $5.4 billion deal for the Israeli chipmaker Tower Semiconductor after failing to get regulatory approval from China, where it derives more than 25% of its revenues. The deal falling through represents a big roadblock for CEO Pat Gelsinger's plans to enter the faster-growing foundry business, which would allow it to manufacture semiconductors for other companies. But one analyst writes, that might not even matter, since no one owns the stock for the foundry business. It’s also another way for China to fight back against the U.S. in the tug-of-war over chip supremacy.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fund managers who leaned into the tech rally and AI hype cycle saw big payoffs, according to this quarter's 13-Fs. Tech-focused funds saw 15% gains year-to-date, about three times that of the average hedge fund. The group also added to top AI plays, including 16 million shares of Nvidia and 12 million shares of Microsoft. We also take a look at which fund managers went against the grain with some under-the-radar trades.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Shares of Opendoor plunging 30% since the company reported a steep revenue decline despite managing to turn a profit. Deirdre Bosa speaks with CEO Carrie Wheeler in her first broadcast interview since assuming the position about the quarter, the state of the iBuying business model in today’s market, and more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Disney posting mixed Q3 results, as CEO Bob Iger laid out a plan to make streaming a key growth driver, including a new focus on its ad-supported tier and announcing price hikes on ad-free versions of Disney+ and Hulu. Plus, newly-appointed CEO of “X” Linda Yaccarino claimed today that the company is soon to be cash flow positive, creating a safe brand, seeing advertisers return and – perhaps the point of giving an interview 8 weeks after becoming CEO – that she’s a stable, steady hand with full autonomy from Elon Musk. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Duolingo is one of the biggest earnings movers of the day after reporting a 62% year-over-year growth in daily active users. Its CEO Luis von Ahn joined to discuss what’s driving the price action, innovations in education technology, and the company’s expansion plans. Plus, Disney is set to report third quarter results after the bell. Investors are keeping an eye on its streaming division, growth in parks, and clues about a bombshell sports betting deal announced yesterday. In a big move for ESPN and Disney, it’s set to rebrand casino company Penn Entertainment’s sportsbook as ESPN BET in a 10-year, $2 billion deal.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

: Shares of Paramount are lower today despite topping revenue expectations in its Q2 results. The beat raises the bar for Disney, which reports after the bell today amid a host of industry-wide challenges, including an ad contraction, pressure to cut streaming costs and a strike. And then there are the company-specific issues that Disney faces, including the performance of its franchise films, attendance issues at parks, and more. Plus, the $53 billion CHIPS Act aimed to jump-start the production of leading-edge semis in America - but a year later, funds have yet to be dispersed -- and firms have already spent billions of dollars. We report from a soon-to-be Wolfspeed chip plant in Siler City, NC. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Artificial intelligence is now disrupting one of the biggest headaches in healthcare – paperwork. Medical notes take doctors and nurses hours every day, and cut into time with patients. The National Bureau of Economic Research estimates that using AI for administrative tasks could save the U.S. health system $200 billion to $300 billion a year. Plus, Eric Hippeau, one of the leading venture capital investors in the healthcare industry, says there's a huge use case for AI, including opening access to primary care - but estimates we're still in the second inning and warns we're not at a stage yet where AI can reliably replace workers.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.