AnalytixInsight

Last week, Dow Jones gained 1.1%, S&P 500 index rose 1.1%, Nasdaq composite was up 1.3%, despite a modest pullback Friday. AI related stocks, nuclear names, quantum computing stocks remain strong. The OpenAI employee stock tender reportedly values the company at ~US$500 billion (with OpenAI now surpassing SpaceX as the highest valued private company). H1/25 revenue grew to US$4.3 billion and cash burn was US$2.5 billion. OpenAI will also reportedly release a TikTok-like social app alongside Sora 2. The new IPO Fermi, rallied to a ~US$21.5 valuation on its NASDAQ debut, despite no revenue, underscoring the land/power-AI adjacent trade. Wealthfront, Navan, TravelPerk, and Zelis Healthcare are planning IPOs. Meta will acquire chip startup Rivos, and OpenAI taps Samsung/SK Hynix for massive High Bandwidth Memory supply. Salesforce is targeting AI developers with a new vibe coding service. Stripe is pursuing federal and NY trust charters to power client-issued stablecoins. Amazon’s ‘NBA on Prime’ streams will include FanDuel bet tracking, shopping integration, and more. Wolfspeed shares surged 33% on Tuesday, after the chipmaker successfully emerged from Chapter 11 bankruptcy with a substantially reduced debt load. In Canada, Shopify partnered with OpenAI as ChatGPT rolls out in-app shopping and “Instant Checkout” sending its stock up ~6%. In news pertaining to Sophic clients, Intermap closed its upsized bought deal for C$28.75 million, including the full shoe. Boardwalktech signed a multi-year Velocity deployment with an NYSE-listed global pro-services firm for US$70K ARR and US$40K follow-on. Plurilock made a key executive appointment to scale higher-margin federal/defence across U.S., Canada, NATO markets. Kraken Robotics, completed brand integration with 3D at Depth.

Last week, Dow Jones fell 0.15%, S&P 500 was down 0.3%, Nasdaq composite lost 0.65%. September is tracking to be the busiest U.S. IPO month since Nov-2021 (US$7.6 billion excluding SPACs) with mixed after-markets (Netskope +18%, Stubhub −6%). Data-center land play, Fermi, is targeting a ~US$13 billion IPO valuation despite no revenue, underscoring the scarcity of land and power. Oracle upsized its long-dated bond sale to fund AI infrastructure to US$18 billion. Nvidia and OpenAI outlined up to US$100 billion of staged funding tied to ~10 GW of capacity. Nvidia could own, for an initial US$10 billion, ~2% of OpenAI equity, with chip-leasing models also under discussion. OpenAI expanded its Coreweave commitment to US$22.4 billion. Microsoft added Anthropic models into Copilot. Apple is testing an internal ChatGPT-like “Veritas” app for the revamped Siri. Google DeepMind released the latest version of its flagship language model designed for powering robots. Humanoid robots are Meta’s next ‘AR-size bet’. Micron beat expectations with +46% sales on strong High Bandwidth memory demand. Alibaba Group’s share price rose more than 9% on Wednesday, after the Chinese tech giant announced a slew of artificial intelligence related developments. Stripe is exploring a US$106.7 billion tender. EA is reportedly being taken private for ~US$50 billion. Tether is evaluating a speculated US$15–20 billion raise. Cloudflare is considering a USD stablecoin (NET Dollar) for AI agent payments. In Canada Sophic client, Intermap, launched a $20.1 million bought deal at $3.00, then upsized to $25.million (greenshoe to $28.8 million), for working capital and growth flexibility. Sophic client, Legend Power commissioned its first SmartGATE install with the U.S. Federal Government via GSA’s CEBT program.

Last week, Dow Jones rose 1.05%, S&P 500 was up 1.2%, and Nasdaq gained 2.2%. Following an as-expected rate cut, risk appetite stayed firm across AI infrastructure and IPOs despite some mixed headlines pertaining to China’s scrutiny of Nvidia, and TikTok détente signals. Netskope priced at the top of its IPO range, and closed +18% (US$8.6B cap). StubHub finished below issue price (−6%). Crypto custodian BitGo filed for an IPO. Travel software company, Navan, showed 30% revenue growth but ongoing losses as it filed its IPO paperwork. Elon Musk’s xAI saw funding chatter. Microsoft announced a ~US$30B UK AI investment. UK Autonomous driving company, Wayve, neared a US$500M funding from Nvidia. Nvidia will also buy US$5 of Intel stock, alongside a CPU collaboration for AI systems. CoreWeave inked a US$6.3B capacity take-or-pay with Nvidia through 2032. Oracle is reportedly in multi-year talks with META after previously signing “significant” AI contracts with OpenAI, xAI, and Nvidia. Huawei laid out a 2026–28 AI-chip roadmap to blunt Nvidia in China. Beijing is also probing Nvidia’s 2020 Mellanox acquisition, and advised against purchasing certain downgraded Nvidia chips. Google crossed US$3T market cap. Robinhood is preparing a retail venture capital fund. META launched new Ray-Ban/Oakley smart glasses (one model includes display + wristband), spotlighting growing AR form-factor momentum despite Reality Labs losses. In Canada, the RCMP shut exchange TradeOgre, seizing ~C$56M in digital assets in Canada’s largest crypto seizure to date. Sophic Client, Intermap, filed a $100M base shelf (25-month window), adding financing flexibility for growth contracts. Sophic Client Plurilock, announced three new Critical Services wins plus two expansions. Management cited over >$10M additions to its pipeline.

Last week, Dow Jones rose 0.95%, S&P 500 gained 1.6%, and Nasdaq composite was up 2%. The rally appears to be broadening out, even as indices generally slipped Friday on a lower than expected reading of the University of Michigan’s September consumer sentiment survey. Risk appetite stayed firm across IPOs and AI infrastructure plays. Gemini raised US$425M, and opened +32%, on a >20× oversubscribed IPO. Figure rose +44% on a US$787.5M IPO. Klarna was up +15% on its US$1.37B IPO. StubHub set a US$22–25 IPO price range (~US$9B value). Fermi filed to IPO as a REIT to fund a Texas “private grid campus” (1 GW by 2026; up to 11 GW by 2038), after securing US$100M equity and US$250M debt from Macquarie. OpenAI committed US$300B of compute to Oracle marking the largest cloud deal ever, which is tied to the “Stargate” build-out, sending Oracle stock up ~35–40% and doubling YTD. Microsoft inked a US$17.4B multi-year GPU-rental pact with Nebius (through 2031, financing-contingent) and will use Anthropic models for some 365 Copilot features (via AWS). Databricks closed US$1B Series K round at >US$100B valuation, and disclosed US$4B annualized sales (+50% YoY) and US$1B AI ARR. Perplexity secured US$200M at US$20B. Nvidia unveiled Rubin CPX—a first inference-focused GPU (availability end-2026). Apple announced its thinnest iPhone (“iPhone Air” at 5.6 mm), which given its eSIM only architecture may not be available in China. Zoox opened free driverless public rides on the Las Vegas Strip. Netflix will sell inventory via Amazon’s ad tech. Nasdaq proposed enabling tokenized securities trading on a national exchange. SpaceX will buy EchoStar spectrum for US$17B. In Canada, Sophic Client, Plurilock sold CloudCodes assets to Scope for ~US$1.78M (cash + shares).