Public Markets 8-Hour Briefing
×Market Moves
Nvidia delivered record $68 billion in Q4 sales, with net income jumping 35% year-over-year as AI demand surged. Zoom gave a weaker profit outlook, suggesting higher costs as it expands its product suite. Salesforce projected stable growth despite Wall Street's AI concerns, while Trade Desk slid after Q1 revenue guidance missed estimates.
Tech & AI Developments
Snowflake reported 30% revenue growth on strong cloud and AI demand. Synopsys beat estimates and guided in line with expectations. Blackbaud CEO said AI tools are expanding customer spend and strengthening its competitive moat. Sequoia's Lin argued software companies will survive the AI wave, while Goldman's Snider said economic acceleration offsets AI jitters.
Corporate Actions & Valuations
Blue Scope called a revised takeover bid inadequate but remains open to better offers. Brookfield's CDK posted an 18% earnings drop as software fears grow. Allianz plans to buy back up to €2.5 billion in shares as CEO returns excess cash to investors. EG Group will sell 260 French petrol stations to billionaire co-founder Zuber Issa ahead of its US IPO.
Data Center & Infrastructure
US data center construction fell for the first time since 2020 amid permitting and power delays, despite soaring AI computing demand. EQT's Vesely forecast data center deals topping $100 billion as AI infrastructure needs grow. CME halted trading on its flagship metals market for over an hour due to technical issues.
Energy & Commodities
Saudi Arabia and Iran accelerated oil exports as Mideast tensions rose, adding barrels to global markets. US crude oil stockpiles posted their largest weekly build in three years, rising 16 million barrels. Emirates Global Aluminium boosted US shipments despite tariffs as shortages drove American prices higher.
Global Markets & Policy
Federal Reserve's Musalem said rates are near neutral with balanced risks as inflation trends downward. Traders piled into bearish yuan bets to hedge downside risks after a strong rally. Government bonds' shrinking appeal is driving up key interest rates globally, according to New York Fed researchers.
Private Markets & Credit
Oaktree is exploring options for £2 billion UK wealth manager Utmost, including a sale or London IPO. Coller Capital agreed to buy $477 million of New Mountain BDC assets to boost financial flexibility. Tikehau's Chabran weighed in on mounting private credit fears as AI disruption rattles investors.
M&A & Strategic Moves
Engie agreed to buy UK Power Networks from Hong Kong's CK Infrastructure in a £10.5 billion deal. Marine Max drew a growing suitor list amid pressure from Donerail. Mexico has cards to play with Trump as he reportedly weighs pulling out of USMCA.
Valuation Concerns
High valuations are concerning, said top M&A dealmaker Robert Kindler. Barclays said the US corporate bond market is most competitive ever, spurring more secondary trading. UBS upgraded IBM after a 22% slide as valuation resets.