AnalytixInsight

Markets ended the week mixed. NASDAQ was up 0.3% after hitting a record high Friday morning. Alphabet, and Broadcom rose on news, Tesla hit a record high. Dow Jones fell 1.8%, S&P 500 lost 0.6%. 10-year Treasury yield rose 25 basis points in its biggest weekly gain since October 2023 to 4.4%. ServiceTitan, ended its first day of trading as a public company with a 42% lift in its stock price to US$101, compared with its IPO price of US$71. The holding company of Coincheck debuted on the Nasdaq, making it the first Japanese cryptocurrency exchange to be listed in the US. Databricks nears a record US$9.5 billion VC raise, and is eyeing an extra US$4.5 billion debt deal — a deal that could become one of the largest venture capital funding rounds in history. Shares of Adobe and Oracle fell after their quarterly reports. Google announced new Quantum chip, leading to the stock breaking out. The Company also announced the second generation of its Gemini AI models, and unveiled a new operating system for augmented and virtual reality devices, along with a new headset. Microsoft shareholders rejected a proposal for the tech giant to possibly invest in bitcoin. D-Wave completed a US$175 million stock sale. Ackroo signed a definitive arrangement agreement to be acquired at $0.15/sh, a 25% premium over the last trading day’s closing price. Sophic Client American Aires provides record holiday shopping season sales performance, including 116% YoY order volume growth, 62% Gross Margin. In Q4 through Dec 3rd, the Company produced record order volumes of $6.72 million (+116% y/y). Gross Margin improved to 62% (from 60%). The Company also signed hockey star Max Domi teams as a Brand Partner as part of its expanding partner ecosystem. Sophic Client Plurilock secured a US$1.1 million order from a Fortune 50 U.S. conglomerate. Sophic Client Cybeats won a contract with another top 10 global medical technology provider.

Last week, Dow Jones fell 0.6% after hitting a fresh all-time high Wednesday. S&P 500 was up around 1%, Nasdaq composite rose 3.3% — both indices set records on Friday. The Nasdaq could be looking extended here, as investors seem to have begun bidding up software names. Some investors are of the view that early January could see some selling pressure for tax related reasons. SpaceX is in talks to sell insider shares in a transaction valuing the company at about US$350 billion, a significant premium to a previously mulled valuation of US$255 billion reported by Bloomberg. Stock and crypto trading app eToro has hired Goldman Sachs as it plans a 2025 IPO. Fidelity marked up its equity stake in X by 32% in October. Salesforce stock jumped 6% after hours after reporting quarterly results, even as revenue growth stayed flat. Super Micro, on Monday said an independent investigation into its accounting practices found “no evidence of misconduct” shares surged 29% to US$42. As Bitcoin hit $100,000, Hedge funds made Microstrategy Wall Street’s hottest trade — effectively monetizing volatility in order to provide Microstrategy cash to buy Bitcoin. Google’s CEO Pichai said Wednesday that gains in conversational AI would be harder to come by in the coming years. Amazon unveiled new AI models, chips, and a supercomputer for Anthropic. OpenAI and Anduril will jointly develop AI for U.S. anti-drone systems to improve their ability to detect and respond to aerial threats. Sophic Client, Legend Power Systems Inc. provided a corporate update. Sophic Client Cybeats appointed cybersecurity industry leaders to its Advisory Board. Sophic Client Plurilock secured a $2.5 million order from the Department of National Defense. Sophic Client American Aires – Price is Right – in our report, we compared American Aires’ valuation to MedTech and Direct to Consumer companies. Canadian-founded, US -based AI company Tenstorrent secured more than US$693 million in a Series D funding from a slew of big-name investors.

Last week, Dow Jones rose 1.4%, S&P 500 and Nasdaq were up 1.1% — Dow Jones and S&P 500 hit record highs. In November, Dow Jones gained 7.5%, S&P 500 5.7% (for their best monthly gains in a year), and Nasdaq rose 6.2%. OpenAI is conducting a share sale for employees to sell about US$1.5 billion worth of shares to SoftBank. CrowdStrike stock fell after issuing a disappointing earnings outlook. Shares of Zoom dropped more than 4% after reporting Q3 results. China’s Huawei Technologies unveiled its latest flagship smartphone featuring a homegrown operating system designed to compete with Google’s Android and Apple. Meta plans to build a US$10 billion subsea cable spanning the world. Meta’s text app, Threads, gained 35 million new signups since Nov. 1, Meta provided the update amid a flurry of news reports about the growth of rival text app Bluesky. Australia passed a law banning social media for under 16s. The Federal Trade Commission has opened an investigation into whether Microsoft has violated antitrust law in multiple segments of its wide-ranging business. In Canada, Sophic Client Ionik reported Q3 results and provided a corporate update. Revenue of US$44.0 million, grew 29% y/y, Adjusted EBITDA of US$5.6 million grew 49% y/y. Sophic Client Plurilock, reported Q3 results — 2024 revenue is on track to exceed 2023 revenue. As of October, year-to-date revenue and Gross Margin already exceeds 2023. The company also announced a US$1.2 million critical services contract with a NASDAQ listed semiconductor manufacturer. Sophic Client, Boardwalktech, reported Q2 Fiscal 2025 results. Annual recurring revenue (“ARR”), at September 30, 2024 was US$4.6 million. The company continues to see growth and expansion from existing customers and expects to see both new direct sales and channel sales contracts. Sophic Client, NowVertical announced a strategic partnership with Microsoft and the launch of a global center of excellence.