AnalytixInsight

Last week, the Dow Jones closed up 4.9%, the S&P 500 was up 4.75%, and the Nasdaq composite closed up 5.2%. Google is reportedly in talks to invest US$200 million into Toronto AI startup, Cohere. Grocery delivery app Instacart has decided to push its highly anticipated IPO into 2023, believing the current stock market is too volatile, as first reported by The New York Times and confirmed by Axios. Only 65 companies have gone public on U.S. exchanges this year, which represents an 80.7% decline from last year, per Renaissance Capital. U.S. IPO proceeds are down a whopping 94.1%. Intel eyes a significantly lower valuation in the IPO of its Mobileye unit. Activist investor Starboard reveals stake in Salesforce. Meta says it will sell off Giphy following order from UK competition watchdog. US weighs security reviews for Elon Musk deals, including Twitter buy, and Elon Musk’s Twitter deal could tank the leveraged buyout market, according to the WSJ. Netflix stock jumped 16% on Q3 earnings beat, return to subscriber growth. Snap’s shares were down 27% after third-quarter sales missed expectations. Roblox stock popped 19% on September user growth. Strong EV sales in China boosted profit for BYD. iPhone 14 Plus production halted, Apple to reassess demand, iPhone 15 Plus still planned. Netflix to expand into cloud gaming, opens new studio in Southern California. Microsoft is building an Xbox mobile gaming store to take on Apple and Google. Uber rolls out ad business to reach more riders. Mastercard will help banks offer cryptocurrency trading. Redditors have created millions of crypto wallets to buy NFT avatars. Biden administration approves US$2.8 billion for EV battery production in the US. Sophic Client, Kraken Robotics (PNG-TSXV, KRKNF-OTC): Recent geopolitical events have accelerated Unmanned Underwater Vehicles’ adoption by several navies, and several companies such as Kraken continue to evolve their products and services to meet growing demand.