AnalytixInsight

Last week, Dow Jones fell 2.7%, S&P 500 was down ~ 1%, Nasdaq rose 0.2%, and hit a record high Friday, 10-year Treasury yield rose 16 bps to 4.23%. In the near term, aside from the US Presidential election, investors will get a first read on Q3 GDP, October jobs, a Fed meeting, and mega cap earnings from Google, Microsoft, Meta, Apple, and Amazon. Wiz hopes to hit US$1 billion in ARR in 2025 before an IPO. WeRide raised US$440.5 million through its US IPO and private placement. Jeff Bezos-backed Perplexity AI has begun fundraising talks in which it is looking to more than double its valuation to US$8 billion – a couple mega cap companies were also interested in acquiring the Company last year, at 1/40 of its current valuation per media reports. Tesla surprised Wall Street with strong profit margins and a projection that it would sell a record number of electric vehicles this year. Shares rose 12% in after-hours trading. Nvidia CEO Jensen Huang said on Wednesday a design flaw with its latest Blackwell AI chips which impacted production has been fixed with the help of longtime Taiwanese manufacturing partner TSMC. Meta’s Ray-Ban smart glasses are the best-seller in 60% of the Ray-Ban stores in Europe. Anthropic says its latest AI model can control users’ computers. Netflix has pulled back on its gaming expansion. TSMC achieved early production yields at its first plant in Arizona that surpassed similar factories back home, a significant breakthrough for its US expansion project. Arm cancelled Qualcomm’s license to design chips based on ARM technology. In Canada, Sophic Client Kraken Robotics, completed its $51.75 million Bought Deal public offering. Shareholders of Sophic Client OneSoft Solutions approved the Company’s take-out. Firan Technology will acquire FLYHT Aerospace Solutions in a cash and stock deal at a ~40% premium.

Last week, major indexes rose for the sixth straight week. Dow Jones rose, ~1% and a hit a record high Friday, S&P 500 was up 0.85%, and hit a record close Friday, Nasdaq composite rose 0.8%. Chinese robotaxi firm, Pony AI filed for a US IPO. Zuora, which sells software for businesses to manage subscription billing, has agreed to be bought by private equity firm Silver Lake and Singaporean sovereign wealth fund GIC for US$1.7 billion. Uber reportedly explored a possible bid for Expedia in a ‘super app’ growth push. Stripe is in talks to acquire Bridge for US$1 billion, Stripe has made it clear that crypto is a huge priority for the company. Billionaire investor Stanley Druckenmiller said he regrets selling his entire Nvidia stake, and is looking to buy again. Shares in semiconductor equipment maker ASML fell 16% on Tuesday, after the Dutch company published financial results a day early, issuing disappointing sales forecasts. TSMC’s profit rose 54% on AI demand. Netflix stock hit an all time high in Q3 results. Amazon and Google are also investing in nuclear power and backing small nuclear reactors. iPhone reportedly had its best ever and nearly topped Samsung globally per research firm Canalys. In Canada, a Hong Kong billionaire increased their stake in Well Health Technologies with a $81-million private share purchase. Sophic Client, Kraken Robotics filed its final short form prospectus in connection with its bought deal public offering. The Company also received $13 million of subsea battery orders. Sophic Client, Intermap announced that Česká podnikatelská pojišťovna (ČPP), a subsidiary of the Vienna Insurance Group subscribed to Intermap’s innovative solution for determining the market price of real estate properties. Sophic Client, American Aires and MBM Motorsports partnered to protect NASCAR Cup team from in-race EMF radiation in an innovative sponsorship.