Public Markets 3h Briefing
×Tech Sector Turmoil
Tech stocks ft.com slid 1.9% as AI spending fears returned despite Nvidia's better-than-expected results. C3.ai finance.yahoo.com slashed 26% of staff after the CEO admitted failure to deliver and "burning too much money." Citizens investing.com downgraded C3.ai after a revenue miss deepened turnaround risks.
Market Performance
The Nasdaq fell 1.9% amid tech sector weakness, while broader market sentiment remained cautious. Barnes & Noble owner Elliott bloomberg.com invited investment banks to pitch for roles on a potential London IPO of the book retailers. Nvidia's CEO claimed the company is now the "largest networking company in the world" amid ongoing AI infrastructure expansion.
Corporate Developments
Victory Capital ft.com sparked a bidding war with a cash-and-stock offer for Janus Henderson aimed at trumping an agreed deal led by Nelson Peltz's Trian Fund Management. Carlyle Group bloomberg.com CEO Harvey Schwartz suggested asset managers erred in labeling retail funds "semi-liquid," calling for more transparency about investment fund illiquidity.
Industry Challenges
Walmart wsj.com agreed to a $100 million FTC settlement over driver pay deception allegations. US power-plant pollution wsj.com rose sharply in 2025 marking a rare uptick in an otherwise long-term downward trend, partly due to increased coal burning for electricity generation.
International Markets
Spanish drugmaker Grifols investing.com posted a jump in 2025 profit. Saint-Gobain investing.com reported stable 2025 sales as operating income rose. MP Materials barrons.com is lifting output of rare-earth magnets as supply chain concerns persist.
Regulatory & Policy
Federal Reserve Vice Chair Bowman bloomberg.com said consensus has been reached on the Basel plan, with regulators close to releasing a revised version of the bank capital proposal. Trafigura ft.com secured a $700 million award after a court victory against Indian tycoon Prateek Gupta, finding he devised "fraud on a grand scale."
Emerging Technologies
Sam Altman's Tools for Humanity wsj.com aims to promote World ID beyond tech and crypto sets via partnerships with household consumer brands. Britain's data center balancing act ft.com highlights how AI power demand could push up electricity prices and sink net zero plans without careful handling.