December 21, 2025: Mixed Week Ends Bullish For Tech Stocks

Last week, Dow Jones fell 0.7%, S&P 500 was flattish moving up 0.1%, Nasdaq composite gained 0.5%. The end of the week was markedly more bullish for tech stocks. SpaceX discussed potential IPO planning. Cerebras is reportedly preparing to re-file its IPO targeting Q2 2026. OpenAI is in early talks around a ~US$750 billion valuation, and potentially massive funding round. Databricks raised US$4 billion+ at a ~US$134 billion valuation. ByteDance outlined a U.S. TikTok JV framework. ServiceNow is reportedly exploring buying Armis for ~US$7 billion. Coursera agreed to buy Udemy for ~US$950 million in stock. Salesforce is set to acquire Qualified. Oracle’s data-center financing optics mixed with disclosures of substantial forward lease commitments led to some tech volatility in the first half of the week. However, Micron’s latest earnings report provided upside for AI-memory demand. Tesla stock jumped after Elon Musk says it’s testing driverless robotaxis. iRobot, the maker of Roomba filed for bankruptcy filing. Nasdaq seeks to extend trading hours, as Wall Street gears up for a 24/7 move. A major U.S. defense authorization bill will emphasize faster procurement and commercialization pathways. In Canada, BDC unveiled a $4 billion defence technology platform (including $500 million across VC streams). Scale AI has revealed nearly $129 million in fresh financing across 44 new Canadian applied AI projects in what it claims is its largest group of commitments to date. In news pertaining to Sophic Clients, Legend Power launched a LIFE-exempt, non-brokered financing for gross proceeds of ~ $1.3 to $1.7 million. Intermap won a Malaysia DEM/data-services award tied to national flood forecasting, while Indonesia’s World Bank-funded ILASPP Phase 2 decision was pushed two weeks. Intermap withdrew 2025 guidance and introduced initial 2026 guidance of $30–$35 million revenue and 28% EBITDA margin, reflecting milestone timing shifts typical of government procurement. Plurilock signed a two-year ~$2.45 million licensing deal (via a partner) with a Nasdaq-listed semiconductor manufacturer.

Sophic Client Legend Power Systems Inc. (LPS-TSXV, LPSIF-OTC) announces Non-Brokered Private Placement pursuant to The Listed Issuer Financing Exemption.

Legend Power announced a non-brokered private placement of a minimum of 11,111,111 units and up to a maximum of 14,186,000 units of the Company (each, a “Unit”) at a price of CAD$0.12 per Unit for aggregate gross proceeds of a minimum of CAD$1,333,333 and up to a maximum of CAD$1,702,320 (the “Offering”). The Offering is being completed pursuant to the amendments to National Instrument 45-106 – Prospectus Exemptions set forth in Part 5A thereof (the “LIFE Exemption”) to purchasers resident in Canada, except Québec, and such other jurisdictions outside of Canada in compliance with applicable securities laws of those jurisdictions. The non-brokered private placement previously announced November 25, 2025 (see press release), has been terminated. Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of CAD$0.12 per Common Share for a period of 36 months from the date of issuance. The Units issued in the Offering will not be subject to any statutory hold period under applicable Canadian securities laws, subject to limitations prescribed by the LIFE Exemption. In connection with the Offering, the Company may pay fees in accordance with the policies of the Exchange, being a cash commission of up to 5.0% on total proceeds received from subscribers introduced to the Company by the eligible finder and the issuance of non-transferable Common Share purchase warrants (each, a “Finder’s Warrant”) equal to up to 3.0% of total Units issued to subscribers introduced to the Company by eligible finders. Each Finder’s Warrant will entitle the holder to acquire one Common Share at an exercise price of CAD$0.12 per Common Share for a period of 36 months from the date of issuance. Securities issued to eligible finders will be subject to a statutory hold period expiring 4 months and 1 day after issuance in accordance with the policies of the Exchange and applicable Canadian securities laws. The Company intends to use the net proceeds from the Offering primarily for operating expenses, material purchases and general working capital purposes, as more specifically detailed in the Offering Document. The Offering may close in multiple tranches, with the final closing to occur no later than January 31, 2026. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Exchange. https://tinyurl.com/mrx9vbmx

Sophic Client Intermap (IMP-TSX, ITMSF-OTC) awarded Malaysian flood mapping program; Indonesia ILASPP Phase 2 evaluation period extended.

Intermap Technologies, a global leader in 3D geospatial products and intelligence solutions, today announced an update on Indonesia, Malaysia, insurance and guidance. The World Bank-funded Indonesian Integrated Land Administration and Spatial Planning Project (ILASPP) has extended the decision date for the next phase in the tendering by two weeks to allow for further review and coordination. The extension reflects the decision committee’s mandate for a thorough selection process. In Malaysia, Intermap has been awarded a project to supply high resolution Digital Elevation Model (DEM) data and related services to the government for the State of Sabah as part of the National Flood Forecasting and Warning Program. The project is implemented by the Department of Irrigation and Drainage (DID) under the Ministry of Energy Transition and Water Transformation (PETRA). The Malaysian national program aims to develop a modern flood forecasting and warning system with monsoon flood forecasts up to seven days ahead and to extend warning lead times from hours to days for agencies and the public. The Company is removing its previously issued 2025 guidance and introducing initial 2026 guidance of $30-35 million in revenue and a 28% EBITDA margin to reflect previously anticipated 2025 milestones occurring in 2026. While the timing of certain government contracts may change due to funding delays and complex global tender processes, management believes these timing effects are typical for government contracting and are mitigated by having multiple concurrent pursuits. Risks to the guidance include uncertainties regarding the timing of subscription renewals, the award of future contracts and the timing of revenue recognition for future awards. https://t.co/ES5Xbra1Iq

Sophic Client Plurilock (PLUR-TSXV, PLCKF-OTCQB) announces $2.4 million Licensing agreement with Nasdaq-listed semiconductor manufacturer.

Plurilock announced a two-year licensing agreement valued at $2,449,255 million with a Nasdaq-listed semiconductor manufacturer (the “Customer”). The Customer has been a Plurilock client since 2024, and the Company has previously delivered multiple cybersecurity solutions and services to support the Customer’s evolving security requirements across its global operations. Under the agreement, Plurilock will provide the Customer with an advanced insider-risk software solution through one of its strategic technology partners. The solution was selected to enhance protections across the Customer’s engineering, production, and supply-chain environments, reflecting the increasing importance of safeguarding sensitive intellectual property and operational systems within complex enterprise infrastructures. https://t.co/JNrydbT7Yr

Sophic Client Renoworks Software Inc. (RW-TSXV, ROWKF-OTC) grows recurring revenue with AI tools for home design platform.

RenoWorks Software Inc. CEO Doug Vickerson talked with Proactive’s Stephen Gunnion about the company’s continued growth and investment focus as it expands its AI-powered home design platform. Vickerson outlined how RenoWorks is helping users, including homeowners, contractors, and manufacturers, virtually remodel their homes using real manufactured products. He explained that answering the question “What will my remodel project look like when it’s done?” is at the core of their offering. The company has shifted its focus in recent years to grow its licensing and hosting revenues, with the goal of increasing annual recurring revenue (ARR). “We made some significant investment in our product platform… and we’re starting to see that come to fruition now,” Vickerson said. He highlighted consistent growth in licensing revenues over the last three quarters, noting that Q3 results showed strong gains alongside margin improvements. On the innovation front, RenoWorks has been leveraging AI for more than six years. Vickerson said that while AI terminology is widespread today, RenoWorks has long used machine learning, and new advances are enabling what he called “revolutionary” enhancements in design software. The company is working to simplify AI adoption for its customers, especially in exterior renovations, by offering tailored tools for the industry. Looking ahead to 2026, the company plans to maintain its focus on ARR growth and on enhancing product functionality using the latest AI developments. https://tinyurl.com/yybzckv3

BDC unveils $4 billion defence technology platform.

Building upon previous federal commitments, the Business Development Bank of Canada (BDC) has announced a new, $4 billion Defence Platform allowing the Crown corporation to invest in and support Canadian defence technology companies. The platform, announced Wednesday, includes $3.5 billion for financing and advisory services to help Canadian businesses scale and participate in “major defence contracts and national projects focused on sovereignty.” Another $500 million will be delivered through three streams of venture capital: a deep-tech, dual-use focused StrongNorth Fund, the Catalyst Innovation Fund, and indirect investments in VC funds “aligned with Canada’s defence and sovereignty priorities.” The bank, whose sole shareholder is the Government of Canada, is the country’s largest and most active VC through its investment arm BDC Capital. . https://tinyurl.com/sucvcbv3

Scale AI unveils $129 million for 44 new applied AI projects across Canada.

Scale AI has revealed nearly $129 million in fresh financing across 44 new Canadian applied artificial intelligence (AI) projects in what it claims is its largest group of commitments to date. The government-backed Canadian AI cluster is ponying up about $46 million, while private partners are coinvesting the remaining $83 million. Scale AI aims to support the growth of the country’s AI industry and fuel the adoption of made-in-Canada AI across the country. https://tinyurl.com/4d8eeatd

Tuhk raises US$6 million to crack down on financial cybercrime.

Toronto-based Tuhk has raised US$6 million ($8.3 million) in seed funding as it prepares a wider launch of its financial crime-fighting platform. Tuhk’s all-equity seed round closed on Dec. 3 and was led by venture firm FINTOP, with participation from Lloyds Banking Group and Capital One Ventures. Tuhk will use the funds to “super-charge” its market entry in the United Kingdom, the United States, and Canada.. https://tinyurl.com/hxabez9x

SpaceX tells staff of IPO plans.

SpaceX chief financial officer Bret Johnsen confirmed to the company’s staff that it was preparing for an IPO next year, the Wall Street Journal reported. The Journal report said Johnsen sent a memo to staff telling them: “The thinking is that if we execute brilliantly and the markets cooperate, a public offering could raise a significant amount of capital.” He also confirmed SpaceX’s new valuation of US$800 billion, the Journal report said. His note also said the timing of the IPO was still highly uncertain. SpaceX had long been considered unlikely to go public, although there was speculation it could spin off its Starlink internet-access business as a public entity. But Musk’s interest in launching data centers in space is reportedly making an IPO of SpaceX more appealing, as it could help the company raise a lot of money. https://tinyurl.com/32dt6nv6

AI chip firm Cerebras set to file for US IPO after delay, sources say.

AI chip maker Cerebras Systems is preparing to file for a U.S. initial public offering as soon as next week, targeting a second-quarter 2026 listing, people familiar with the matter said. The company, which develops high-performance processors for artificial intelligence workloads, withdrew its prior IPO filing in October, days after announcing it had raised over US$1 billion in a fundraising round that valued the AI chipmaker at US$8 billion. The company first filed paperwork with the U.S. Securities and Exchange Commission in 2024, before postponing and ultimately withdrawing its IPO earlier this year. Reuters previously reported that the earlier delay followed a U.S. national security review of UAE-based tech conglomerate G42’s minority investment in the AI chipmaker. G42, which had been both an investor and one of Cerebras’ largest customers, drew increased scrutiny from U.S. authorities amid concerns that Middle Eastern companies could provide China access to advanced American AI technology, Reuters previously reported. The company announced earlier this year that it has obtained clearance from the Committee on Foreign Investment in the United States (CFIUS). U.S. IPO activity has held up in 2025 despite April market volatility triggered by President Donald Trump’s sweeping tariffs and the longest government shutdown. Traditional listings have raised US$46.15 billion so far this year, excluding blank-check firms, the highest since 2021, with deal volume up more than 21% from a year earlier, Dealogic data show. Bankers expect momentum to strengthen next year, with high-profile companies such as Elon Musk’s SpaceX weighing potential flotations. https://tinyurl.com/4a586d4w

OpenAI has discussed raising tens of billions at valuation around US$750 billion.

OpenAI has held preliminary discussions with some investors about raising new funding at a valuation of around US$750 billion, according to three people with knowledge of the discussions. It could raise tens of billions of dollars, and as much as US$100 billion, according to two of the people. A valuation at that level would be 50% higher than OpenAI’s last share sale in October and would add to its already substantial cash stockpile needed to train and run its AI models. It’s already started to line up funding in addition to the more than US$60 billion it’s raised from investors including Thrive Capital, SoftBank and others. Amazon is in talks to invest US$10 billion or more in the company. It’s not clear which investors beside Amazon are considering investing and whether that valuation would include the new money. For a round of that size, OpenAI would likely need to tap a mix of strategic investors and sovereign wealth funds. It has already raised funds from the United Arab Emirates’ MGX and chip giant Nvidia. OpenAI has also talked to Saudi Arabia’s giant Public Investment Fund when it was raising money for its US$41 billion, SoftBank-led round earlier this year, though OpenAI never disclosed any investment from PIF. The decade-old AI developer can tout that revenue that has been growing quickly. By last month it was generating US$19 billion in annualized revenue, putting it on track to hit its goal of US$20 billion in annualized revenue by the end of the year. The company is also on track to beat its 2025 total revenue goal of US$13 billion, up from around US$4 billion last year, according to one of the people. That figure should rise to US$30 billion next year—and around US$200 billion by 2030—on increased sales of ChatGPT subscriptions and new products, which could include advertising. However, the company has forecast it will burn about US$26 billion this year and next, en route to more than US$100 billion in cash burn over the next four years as it spends money on servers and talent to develop and run its AI. https://tinyurl.com/3pfp325y

Amazon reportedly in talks to invest US$10 billion in OpenAI as circular deals stay popular.

Amazon is in early discussions to invest as much as US$10 billion in OpenAI in a deal that would see the AI lab using the e-commerce giant’s AI chips, CNBC reported. If it materializes, the deal would value OpenAI at more than US$500 billion, Bloomberg reported, citing an anonymous source. Amazon has been looking to diversify its bets in the AI race, which has so far seen it partner up with and invest US$8 billion in Anthropic, a rival to OpenAI. The e-commerce giant earlier this month also unveiled the latest iteration in its Trainium series of chips, and outlined the development of the next installment of those chips, complementing its cloud computing offerings via Amazon Web Services. Amazon investing in OpenAI would mark the latest in a series of circular deals in the AI space — major hardware manufacturers and cloud providers strike deals with young AI companies to use their products, while the upstarts commit to using their data centers and chips for training their AI models. https://tinyurl.com/9xhax2un

OpenAI on track to top US$13 billion in revenue.

OpenAI is on track to beat its 2025 revenue goal of US$13 billion, up from around US$4 billion last year. Annualized revenue, or the last month’s revenue multiplied by 12, by last month topped US$19 billion, more than triple the pace in January. The growth comes as company begins early discussions to raise as much as US$100 billion at a valuation of around US$750 billion before the investment, 50% higher than its valuation two months ago during the share sale. The discussions suggest that private investors still have appetite for fast-growing AI startups even while worries about an AI bubble derail some public tech stocks. https://tinyurl.com/zv76uktt

OpenAI ends six month initial vesting period for employee equity.

OpenAI ended a policy that required new hires to work for six months before their equity compensation vested, the Wall Street Journal reported, an effort to make the AI firm a more appealing place to work. The Journal said OpenAI had previously shortened the minimum period that new hires have to work for vesting to six months from 12 months. The new policy means new hires vest their stock from their first day. Competition for AI talent is as intense as ever, with the top tier of AI researchers able to jump around between big companies and startups, including Google, Meta, Microsoft, OpenAI and xAI. https://tinyurl.com/4jr4r42h

Databricksv Valued at US$134 billion in new financing.

Databricks said it had raised more than US$4 billion from investors including Insight Partners, Fidelity Management and J.P. Morgan Asset Management, valuing the AI software firm at US$134 billion. The round will allow Databricks to continue to stay private while allowing employees to sell some shares. The company expects to pull in more than US$4 billion in revenue this year, and generate some cash for the year. https://tinyurl.com/rccfn6jp

ByteDance signs deal to create U.S. TikTok venture.

TikTok owner ByteDance reached agreements with investors to create a U.S.-based TikTok joint venture majority owned by American investors. ByteDance signed a deal with Abu Dhabi-based MGX, Oracle and investment firm Silver Lake to create the new company and is aiming to have the transaction finalized by January 22, according to the memo–one day before a deadline set by the White House for a sale of TikTok’s U.S. operations. MGX, Oracle and Silver Lake will each own 15% of the new company, as part of a broader consortium holding a 50% stake. Affiliates of existing ByteDance investors will own 30.1%, and ByteDance will own 19.9%. The agreement is in line with a proposed deal mapped out this fall and brings ByteDance closer to ending the multi-year negotiations determining the fate of TikTok in the U.S. The new joint venture will be responsible for safeguarding U.S. user data in a cloud environment run by Oracle. https://tinyurl.com/5wz2u645

ServiceNow shares dropped 10% on Armis acquisition report.

Shares of ServiceNow dropped around 10% on Monday morning, following a weekend report on Bloomberg that the enterprise software firm was in advanced talks to buy cybersecurity startup Armis for US$7 billion. A potential deal with Armis would be ServiceNow’s second cybersecurity acquisition this year after it agreed to buy identity security startup Veza for more than US$1 billion in early December. The enterprise software giant is looking to enhance its ability in IT and security. Armis is considered an IPO candidate and the company said it crossed US$300 million in annual recurring revenue in August. https://tinyurl.com/2mrhn9f9

Coursera to buy Udemy for US$950 million in stock.

Online education platform Coursera said on Wednesday it would buy rival Udemy for about US$950 million in stock, giving the two companies more scale to compete as AI threatens their businesses. The companies are two of the largest US-based online learning providers but their growth has slowed sharply in recent years. Udemy’s growth flatlined in the third quarter and its revenue is up just 1.5% in the first nine months of the year. Coursera has done a bit better and reported 10% higher revenues in the third quarter. Both companies went public in 2021 and their shares are well below their IPO prices. Udemy has lately traded between US$5 and US$6, compared with its IPO price of US$29, while Coursera has been trading around US$8 compared with its IPO price of US$33. Coursera is offering 0.8 of one of its shares for each Udemy share, valuing it around US$6.40 a share. Udemy stock jumped 24% on the news while Coursera was trading up 5%. https://tinyurl.com/3r73zs49

WBD rejects Paramount’s offer.

The board of Warner Bros. Discovery rejected Paramount Skydance’s US$108 billion takeover offer, sticking with a deal it has already reached with Netflix, citing “significant risks” of the Paramount offer. In a securities filing, WBD outlined in detail the risks of the Paramount offer, which is backed by Oracle founder Larry Ellison, whose son David is the Paramount CEO and whose family controls Paramount. While the Ellison family has said it will “backstop” the roughly US$41 billion in equity required to complete the WBD offer, WBD complained that Paramount’s arrangements “contain several loopholes” which created uncertainty about its acquisition closing. It noted that the backstop was based on Larry Ellison’s personal trust but said there was no details about the assets or liabilities of the trust. While Paramount said the trust held Ellison’s US$209 billion stake in Oracle, WBD said Paramount had “not provided any evidence of this.” https://tinyurl.com/bdfex5hw

Salesforce acquires AI marketing startup qualified.

Salesforce has struck an agreement to acquire Qualified, a seven-year-old startup that helps Salesforce customers generate sales leads from their websites. Terms weren’t disclosed, but Salesforce is paying between US$1 billion and US$1.5 billion for Qualified, according to a person with direct knowledge of the matter. A Salesforce spokesperson didn’t respond to a request for comment. Qualified hasn’t previously publicly disclosed its valuation. The deal reflects the large number of companies that are still using the web to generate sales leads. Qualified sells an AI agent called Piper that companies can use to greet website visitors, determine what products they’re interested in, and relay this information to human salespeople. Salesforce already offers similar features through its agent-building service, Agentforce, but Qualified, co-founded by former Salesforce executives, has deeper experience in this area. Qualified has raised more than US$160 million from investors such as Salesforce Ventures, Redpoint Ventures, Norwest and Sapphire Ventures, according to Pitchbook. The company’s last funding came in 2022 when it raised a US$95 million Series C round led by Sapphire Ventures. https://tinyurl.com/425s64w8

Oracle shares fall after a data center financier decides not to fund its Michigan facility.

Oracle shares fell 5% Wednesday morning after the Financial Times reported that data center investor Blue Owl would not participate in a US$10 billion financing for one of Oracle’s artificial intelligence data centers being built for OpenAI in Michigan. Blue Owl decided not to invest because the lease and debt terms weren’t as attractive as previous Oracle-related projects it backed, according to a person with direct knowledge of the talks. Investment firm Blackstone could step in as a backer of the project, according to the report. Construction is set to begin in early 2026, the companies said in October. Oracle is working with developer Related Digital on the project, which aims to provide OpenAI with state-of-the-art servers for developing AI. Blue Owl’s decision could spark concern across the industry that some large-scale projects might struggle to get financial backing. https://tinyurl.com/4njxwbn4

Oracle strikes US$150 billion of data center leases in November quarter.

Oracle struck about US$150 billion worth of lease commitments on data centers in the three months ending November, it revealed in securities filing late last week, a sign it is preparing for the cloud deals that customers such as OpenAI have struck with Oracle. The filing showed that as of Nov. 30, Oracle had US$248 billion of lease commitments “substantially all related to data centers and cloud capacity arrangements” that are due to start between now and fiscal 2028 that weren’t on the balance sheet. That compared with US$99.8 billion of additional lease commitments Oracle reported having made as of Aug. 31, according to a filing over the summer. As of May, Oracle had just US$43.4 billion of additional lease commitments. Also as of Nov. 30, Oracle had customer commitments totalling US$523 billion, stretching out over more than five years. Oracle said in the securities filing 10% of these commitments were expected to be recognized over the next 12 months, with another 65% through the next five years. https://tinyurl.com/yz5az24y

Micron shares surge after company beat revenue, Gross margin projections.

Memory chip-maker Micron’s shares climbed 8% after it reported 57% growth in revenue of US$13.64 billion for its first fiscal quarter, ended Nov. 27, well above its September projection that it would bring in as much as US$12.8 billion in revenue. Executives also forecast Micron’s revenue growth to accelerate next quarter to a rate of 132% year-over-year. CEO Sanjay Mehrotra said the company had already locked in agreements on price and volume with its customers for its entire supply of high bandwidth memory chips in 2026. Memory chips such as the ones Micron manufactures are in short supply as AI companies seek to build up their stockpiles to use in data centers. OpenAI announced deals with Micron rivals SK Hynix and Samsung in October to double the current global manufacturing capacity for HBM. Mehrotra said he expected “strong industry demand” and “supply constraints” to continue contributing to “tight market conditions” beyond 2026. Micron’s pricing power, thanks to the surging demand from AI firms, was reflected in the 56% gross profit margin it notched in the November quarter, which was well above the guidance it had shared with investors in its previous earnings call. The company projected today that its gross profit margin would continue to climb in the second quarter to as high as 68%. https://tinyurl.com/mwx6sv2t

Tesla stock jumps after Elon Musk says it’s testing driverless robotaxi.

Tesla shares were trading up 4% on Monday after CEO Elon Musk confirmed that the company has started testing its Robotaxi vehicles in Austin without human backups inside the cars. “Testing is underway with no occupants in the car,” Musk said in an X post on Sunday in response to a video of a Robotaxi on the road in Austin without a person inside it. In at least one video of an empty Robotaxi, the vehicle was being followed closely by another Tesla, which some observers have interpreted to be a backup observation vehicle. Tesla currently offers rides to customers in Austin and the San Francisco Bay Area, though all customer rides in both regions currently have operators inside vehicles that can intervene if self-driving software malfunctions. Musk said in July that Tesla was aiming to offer Robotaxi to half the U.S. population by the end of 2025 before scaling that goal back to eight to 10 metro areas. Tesla has been driving test vehicles in several other U.S. metro areas but has yet to launch outside the two initial cities. That leaves the company far behind rival Waymo, which is offering rides without backup humans in five U.S. cities. https://tinyurl.com/4rmxthxe

Roomba maker files for bankruptcy.

IRobot, the company that makes the Roomba vacuum, is filing for bankruptcy, it announced Sunday. Shenzhen Picea Robotics Co., iRobot’s main contract manufacturer, will buy iRobot’s assets out of bankruptcy. Roombas were first released in 2002 and became the most popular home robots of the past two decades. The company reached a market capitalization of over US$4.5 billion in early 2021, but its stock price has plummeted to its current capitalization of US$41 million. Amazon previously looked into buying iRobot but regulatory opposition by the E.U. and the Federal Trade Commission scuttled the deal in early 2024. The transaction would take iRobot private and existing shareholders would not receive any equity in the reorganized company. IRobot said it plans to continue operating throughout the process. IRobot has faced growing competition in recent years as new companies, such as Matic, gain traction in the market for robot vacuums. https://tinyurl.com/ywk334en

Nasdaq seeks to extend trading hours, as Wall Street gears up for 24/7 move.

Nasdaq, one of the world’s largest exchanges that is home to tech companies Nvidia, Apple and Amazon, is planning to submit paperwork with the U.S. Securities and Exchange Commission on Monday to roll out round-the-clock trading of stocks, as it looks to capitalize on a global demand for U.S. equities. Investor demand for nonstop trading in U.S. stocks has surged in recent years, prompting regulators to introduce new rules and green-light proposals from major exchanges to enable trading beyond normal market hours. The U.S. stock market represents almost two-thirds of the market value of listed companies globally, while total foreign holdings of U.S. equities reached US$17 trillion last year, according to data compiled by Nasdaq. Nasdaq’s filing with the SEC will mark its first formal step towards rolling out round-the-clock trading, five days a week. In March, Nasdaq President Tal Cohen said the exchange operator had started discussions with regulators and expected to launch nonstop five-day-a-week trading in the second half of 2026. The New, opens new tab York Stock Exchange, opens new tab and Cboe Global Markets also recently announced plans to move to round-the-clock trading for stocks. When Nasdaq moves to 23/5, it plans to operate two trading sessions, with the day session starting at 4 a.m. and ending at 8 p.m., followed by a one-hour break for maintenance, testing, and clearing of trades. The night session will kick off at 9 p.m. and end at 4 a.m. the following calendar day. The central clearing hub, the U.S. Depository Trust and Clearing Corp., is scheduled to roll out nonstop clearing for stocks by the end of 2026. Advocates of the broader move to round-the-clock trading have argued it will allow investors, especially those based outside the U.S., to react more quickly to developments that happen outside regular market hours. Major Wall Street banks, however, are cautious about the push toward nonstop trading, citing concerns around lower liquidity, heightened volatility, and uncertainty over returns on investment. https://tinyurl.com/2e2uzvaf

Senate passes US$901 billion defense authorization bill with major acquisition reform push.

The bill forces the Pentagon to adopt a “portfolio acquisition executive model” for managing programs and makes it easier for commercial firms to do business with the department. The Senate has passed the fiscal 2026 defense authorization bill, setting the stage for sweeping changes to the nation’s defense acquisition to be encoded into law. Senators voted 77-20 on a bipartisan basis to send this year’s National Defense Authorization Act to the desk of President Donald Trump, who has indicated he will sign the bill. The NDAA, which was passed by the House on Dec. 10, authorizes US$900.6 billion in defense funds, or about $8 billion more than the White House’s request. In a statement of administration policy issued last week, the White House stated the NDAA will enable the Defense Department to make investments into key areas of the defense industrial base, such as critical mineral and refining projects. “Section 804 authorizes the Secretary of War to enter into multiyear procurement contracts for critical munitions, providing the certainty needed to expand industrial capacity and delivering cost savings for the taxpayer,” the statement reads. “Further, the defense procurement system will now emphasize speed of delivery, production capacity, and innovation, revolutionizing the culture of the Department’s acquisition activities.” Acquisition reform was the cornerstone of the NDAA this year, with both committees coming up with plans centered around speeding up the process and making it easier for new entrants to do business with the Defense Department. In the end, the final language combined elements from both proposals, including the Senate’s bid to centralize management of weapons programs under broader “portfolio acquisition executives” instead of the current program executive officer model, as well as the House’s push to reform the requirements process. https://tinyurl.com/855jsdcf

Google works to erode Nvidia’s software advantage with Meta’s help.

Google is working on a new initiative to make its artificial intelligence chips better at running PyTorch, the world’s most widely used AI software framework, in a move aimed at weakening Nvidia’s longstanding dominance of the AI computing market, according to people familiar with the matter. The effort is part of Google’s aggressive plan to make its Tensor Processing Units a viable alternative to Nvidia’s market-leading GPUs. TPU sales have become a crucial growth engine of Google’s cloud revenue as it seeks to prove to investors that its AI investments are generating returns. But hardware alone is not enough to spur adoption. The new initiative, known internally as “TorchTPU,” aims to remove a key barrier that has slowed adoption of TPU chips by making them fully compatible and developer-friendly for customers who have already built their tech infrastructure using PyTorch software, the sources said. Google is also considering open-sourcing parts of the software to speed uptake among customers, some of the people said. Compared with earlier attempts to support PyTorch on TPUs, Google has devoted more organizational focus, resources and strategic importance to TorchTPU, as demand grows from companies. https://tinyurl.com/3cjmr3mc

DraftKings enters prediction markets rush with new trading app.

DraftKings is releasing a new app that will allow customers in 38 states to trade contracts on sports and financial events through prediction markets. The app, DraftKings Predictions, will supplement the company’s current sports betting products, and underscores the rapid expansion of prediction markets into the legal gray zone between finance and gambling. DraftKings said it plans to later expand from sports and financial contracts into other categories including culture, entertainment, and crypto. https://tinyurl.com/4ev45aby

U.S. threatens retaliation against European tech companies.

The Trump administration has threatened to impose penalties on European technology companies in response to a pattern of what it says are “discriminatory and harassing lawsuits, taxes, fines, and directives” against American tech companies. In a post on X, the Office of the U.S. Trade Representative pointed to several European firms, including Mistral, Spotify and Accenture, arguing these companies “operate freely” in the U.S. compared to U.S. tech companies in Europe. “If the EU and EU Member States insist on continuing to restrict, limit, and deter the competitiveness of U.S. service providers through discriminatory means, the United States will have no choice but to begin using every tool at its disposal to counter these unreasonable measures,” the post said. The European Union has taken a tough stance on big tech in recent years. It recently fined Elon Musk’s X US$140 million dollars, and, a few months earlier, fined Google around US$3.5 billion. https://tinyurl.com/ew45buns

PayPal applies to become a bank for small business lending.

PayPal Holdings applied to set up a Utah-based bank, a move that would allow it to directly provide loans to customers instead of relying on third-party banks for much of the process. The 27-year old online payments company filed applications with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation for what it’s calling PayPal Bank, it said Monday. The bank will originate small business loans and offer interest-bearing savings accounts, PayPal said. Mara McNeill, who was previously CEO of a bank catering to Toyota dealership owners and employees, will be the president of PayPal Bank. PayPal said it has provided access to more than US$30 billion in loans and working capital since 2013. https://tinyurl.com/cxbnj8hf

Coinbase launches prediction markets, stocks trading.

Coinbase said Wednesday it’s launching stock trading, prediction markets, stablecoin issuance, and other new features in payments and wealth advisory, in its bid to become an “everything exchange.” The move represents its biggest product shakeup in years and puts it in direct competition with Robinhood, which also offers stocks, crypto, and prediction markets. Like Robinhood, Coinbase will charge zero-fees for stock trading, according to Scott Shapiro, who leads trading business at Coinbase. The company hopes it will pave the way for its future launch of tokenized stocks by attracting users and boosting liquidity for stock trading on the platform. For prediction markets, Coinbase will partner with Kalshi to start and expects to add more partners later. Coinbase is also launching a service letting companies create their own custom-branded stablecoin with Coinbase, backed by collaterals including Circle’s USDC. It will also offer crypto perpetual futures, an AI-powered wealth advisor, and crypto payment features for enterprises. https://tinyurl.com/5fh2xdtb