Weekly Investment News and Analysis

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).