Weekly Cache

Weekly Investment News and Analysis

Please see what we’ve been reading in technology and ESG related investing this week. Please feel free to send us what you’ve found interesting.

Latest Invesment News

October 6, 2024: First Major AI IPO Coming?

Last week, Dow Jones rose 0.1% and hit a record close, S&P 500 rose 0.2%, and Nasdaq composite was up 0.1%. That said, 10-year Treasury yield spiked 23 basis points to 3.98%, for its biggest weekly gain in nearly a year, two-year yield, which is more closely tied to Fed policy, shot up the most in two years by 37 basis points, to 3.93%. U.S. startups raised US$37.5 billion in the three months ended in September, up 8% y/y. OpenAI completed a US$6.6 billion raise, that values the company at US$157 billion post-money. The company also secured a US$4 billion revolving credit line. OpenAI also told employees Wednesday it plans to allow them to sell some of their stock through a tender offer. Cerebras, which designs chips for training and running AImodels, disclosed in its IPO that it lost US$127 million last year on US$78 million in revenue. Shein is hosting informal roadshows in London and New York in preparation for the company’s IPO on the London Stock Exchange. Accenture will train 30,000 employees on Nvidia’s full stack of AI technologies and start a new business group dedicated to AI. Google is considering nuclear power to feed its energy-hungry AI data centers. Kalshi, a prediction market startup, went live with its betting market that allows U.S. users to bet on who will win the November presidential election. In Canada, Toronto-based, Koho Financial raised a $190 million round of debt and equity funding as it continues its efforts to secure a Schedule 1 banking licence. Sophic Client, upsized its bought deal to $45 million from $25 million, the stock is trading above deal price, which bodes well. Sophic Client, Clear Blue Technologies closed a Convertible Debenture financing, raising $2.2 million. Sophic Client, Plurilock signed a US$19.3 million contract with a S&P 500 semiconductor company, and also announced nearly US$2 million of Critical Services contracts. Sophic Client, American Aires expects to receive mass media exposure through upcoming appearance on Military Makeover with Montel.

Invesment News in the Past Weeks

September 6, 2020

We hope you’re enjoying the long weekend with your loved ones. Many high growth stocks pulled back on Thursday, and Friday to some extent – however, valuations still remain elevated. Interestingly a Financial Times piece on Friday suggested Softbank’s option trading could have been tech stocks higher over the summer.

August 30, 2020

Monday saw the one the highest number of SEC S-1 filings for high profile companies going public as we have seen in nearly fifteen years in capital markets. September, should be a very interesting month!

August 23, 2020

While the Tik-Tok drama continues to unfold, high profile companies including SpaceX, Robinhood, Airbnb, Ant Financial, Palantir move ahead to either raise capital or go public. Palantir also plans to move its headquarters from the Bay Area to Denver, which could aid the trend of tech companies being more widely located, which we believe is a tailwind for the Canadian tech ecosystem. For example, Odyssey Interactive’s founders previously worked in the United States but opted to establish the company in Canada, because of the strong startup ecosystem in Canada.

August 16, 2020

Epic Games and Facebook appear to be pushing back against app store policies, which could have far reaching implications. Several high profile companies are expected to go public this fall & Robinhood is garnering lots of attention (including, gracing the cover of this week’s Barrons).