🚀 Nvidia signs $100B deal with OpenAI

Market Overview
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Year To Date Performances:

1. Nvidia’s $100 billion deal with OpenAI to build systems requiring up to 5 million GPUs set off a global rally in chip stocks, lifting suppliers and partners from Taiwan to Europe. Taiwan Semiconductor rose 3.5%, SK Hynix gained more than 2.5%, and Samsung climbed on hopes of joining Nvidia’s supply chain, while Tokyo Electron and European firms like STMicro, Infineon, and BE Semiconductor also advanced. Analysts said the massive scale of the investment underscores that AI demand is far from peaking, benefiting a broad ecosystem of semiconductor players even as some rivals face near-term pressure.

2. Crypto infrastructure startup Zerohash has raised $104 million in a Series D round led by Interactive Brokers, with backing from Morgan Stanley, SoFi, and Apollo, valuing the firm at $1 billion. Founded in 2017, Zerohash enables banks and fintechs to offer crypto trading, stablecoins, and tokenization, and already powers Interactive Brokers’ crypto services with plans to launch a stablecoin product together. CEO Edward Woodford said the round was designed to bring in “the largest, most trusted brands in the world” as the U.S. regulatory environment under President Trump has shifted to favor digital assets. With strategic investors who are also likely to become clients, Zerohash is positioning itself as a key bridge between Wall Street and blockchain finance.

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4. Amazon is now in court facing the Federal Trade Commission’s 2023 lawsuit accusing it of tricking users into Prime memberships and making cancellation intentionally confusing. The FTC claims millions of customers were enrolled without proper consent and points to an arduous cancellation process, internally nicknamed “Iliad,” that required multiple pages and steps. U.S. District Judge John Chun has already ruled Amazon and two senior executives violated federal law by collecting billing details before disclosing terms, raising the stakes as the month-long jury trial unfolds in Seattle. Amazon denies wrongdoing, arguing its processes are transparent, but the case highlights the FTC’s broader crackdown on “dark patterns” in online subscriptions, with major implications for how tech giants design user experiences.

   Headlines

   1. Trump will meet with Democratic lawmakers to try to prevent a government shutdown centred around their demand for increased funding for healthcare.

   2. The EU and WHO have both released statements countering the US government’s claims that Tylenol use during pregnancy causes Autism.

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