Drone startup BRINC announced Tuesday a significant upgrade for its law enforcement drones. BRINC’s newest model, Guardian, will have Starlink connectivity on every unit—a first for commercially available drones. This new model, which will enter production later this year, has a flight time of over an hour and can reach a top speed of over 60 miles per hour. BRINC calls it the “first drone that ca...
Drone startup BRINC announced Tuesday a significant upgrade for its law enforcement drones. BRINC’s newest model, Guardian, will have Starlink connectivity on every unit—a first for commercially available drones. This new model, which will enter production later this year, has a flight time of over an hour and can reach a top speed of over 60 miles per hour. BRINC calls it the “first drone that can pursue vehicles.” Additionally, Guardian can carry numerous payloads from its charging “nest,” including a floatation device, a defibrillator, epipens, the overdose-reversal drug Narcan, and more. The nest can also robotically swap batteries in about a minute, the company claims. Read full article Comments
Shares of memory chips maker Micron (NYSE:MU) fell 4.3% in the afternoon session after investors reacted to an announcement from Google that could reduce demand for memory chips.
Shares of memory chips maker Micron (NYSE:MU) fell 4.3% in the afternoon session after investors reacted to an announcement from Google that could reduce demand for memory chips.
The rollout of a new feature for Interactive Brokers (NASDAQ: IBKR) clients was the catalyst propelling the company's stock higher on Wednesday. Shares of the next-generation brokerage rose by almost 4% that trading session on the news. That morning, Interactive announced that its users can now transfer their holdings of certain cryptocurrencies into their crypto-linked accounts. The company promi...
The rollout of a new feature for Interactive Brokers (NASDAQ: IBKR) clients was the catalyst propelling the company's stock higher on Wednesday. Shares of the next-generation brokerage rose by almost 4% that trading session on the news. That morning, Interactive announced that its users can now transfer their holdings of certain cryptocurrencies into their crypto-linked accounts. The company promised that this would enable them to trade such assets at relatively low costs. Image source: Getty Images. Continue reading
Kenneth Cheung/iStock Unreleased via Getty Images Introduction The last time I covered PDD Holdings ( PDD ), I talked about the way the current pessimism about Temu's slowdown led to a significant discount on one of China's best financial fortresses, rating them a Strong Buy despite ongoing competitive pressure. After a solid year marked by significant reinvestments and deliberate expense increase...
Kenneth Cheung/iStock Unreleased via Getty Images Introduction The last time I covered PDD Holdings ( PDD ), I talked about the way the current pessimism about Temu's slowdown led to a significant discount on one of China's best financial fortresses, rating them a Strong Buy despite ongoing competitive pressure. After a solid year marked by significant reinvestments and deliberate expense increases, PDD remains in an exceptional financial position, while the valuation continues to imply a significant margin of safety even when taking into account the country-related and competitive risks. Fundamentals Remain Strong PDD Holdings IR PDD reported a weak Q4, missing the market’s top- and bottom-line estimates , with total revenues up 12% although net income dropped 12% YoY (non-GAAP) due to higher costs of revenues, marketing and R&D, alongside a ~12.3% drop in cash generated from operating activities to $15.29 billion. This drop also comes as a result of higher investments, with R&D up 30% YoY (part of their 100-billion-yuan investment plan over three years announced in 2025 ), while the company’s management also highlighted 2026 as the start of their “next decade” during the Q4 Earnings Release , mentioning: 2026 marks the beginning of our journey into the next decade, (...) Going into this new chapter, supply chain investment is where we will place our greatest conviction. We are committed to dedicating significant resources, with an all-in mindset, to drive lasting benefits to the entire ecosystem. PDD Holdings IR PDD Holdings IR Financially, based on PDD’s latest report, we can see not only a fortress balance sheet with meaningless debt and a ton of cash, but this is even improving, with cash and cash equivalents nearly doubling and equity up significantly, generating $3.66 billion worth of interest in 2025 from this alone. As mentioned before, this is the “biggest” fortress in China’s Big Tech , (compared to peers like Baidu ( BIDU ) or JD.com ( JD ) which are kno...
Shinsei Motions/iStock via Getty Images Intro When I heard Nvidia Corporation’s ( NVDA ) announcement at their latest GTC event that their next step reaches literally “beyond the sky” — rocketing AI into orbit — it immediately stuck with me and took on a life of its own in my mind. Remembering my first reaction, I couldn’t help but smile to myself. My mind went, “Well, if the story is already this...
Shinsei Motions/iStock via Getty Images Intro When I heard Nvidia Corporation’s ( NVDA ) announcement at their latest GTC event that their next step reaches literally “beyond the sky” — rocketing AI into orbit — it immediately stuck with me and took on a life of its own in my mind. Remembering my first reaction, I couldn’t help but smile to myself. My mind went, “Well, if the story is already this wild, then of course, even the sky isn’t the limit anymore.” For better context, I think it’s fair to clarify right from the very beginning: I’ve never been an Nvidia bull… ever. I still remember the stories from about a decade ago, back when nobody was seriously talking about AI yet, about how Nvidia supposedly had the best graphics cards in the world, how no one else even came close, and therefore the stock was obviously a bargain as well. It just didn’t click with me. As the following chart shows, there were still several years left to reconsider the opportunity before it finally took flight. Nvidia 10 Year Chart (Seeking Alpha) So, after 19,285% later, all I can do is admit that, to put it mildly, a pretty good opportunity ended up slipping by. Why didn’t it click with me? Firstly, I don't naturally feel strongly about TFLOPS, HBMs, FP8s, Cores, or VRAM—you name it. Honestly, the broader IT space has never been the easiest thing to unpack for me. Secondly, a decade ago, when I kept hearing how great and advanced Nvidia’s GPUs are, the conversation often centered around PC gamers. I thought, okay, that’s a great audience, but still a relatively limited one. That’s how it goes — you lock onto an idea, treat it as something fixed, and you’re not ready to change it even when the changes are staring you in the face. Hopefully, I’m not the only one who has missed great opportunities just because of being stuck in certain old thought patterns. That said, today I do get excited when people start discussing what all these GPUs, CPUs, and stacks might lead to. It feels like we’r...
Meta is laying off hundreds of employees across its company, according to reports from The New York Times , NBC News , and The Information . The job cuts impact workers on Meta's recruiting, social media, and sales teams, along with Reality Labs, the division that develops the company's smart glasses and virtual reality headsets. "Teams across Meta regularly restructure or implement changes to ens...
Meta is laying off hundreds of employees across its company, according to reports from The New York Times , NBC News , and The Information . The job cuts impact workers on Meta's recruiting, social media, and sales teams, along with Reality Labs, the division that develops the company's smart glasses and virtual reality headsets. "Teams across Meta regularly restructure or implement changes to ensure they're in the best position to achieve their goals," Meta spokesperson Tracy Clayton says in an emailed statement to The Verge . "Where possible, we are finding other opportunities for employees whose positions may be impacted." Clayton declined … Read the full story at The Verge.
Banks led by JPMorgan Chase & Co. boosted a junk loan to support the purchase of Janus Henderson Group Plc by Nelson Peltz ’s Trian Fund Management and General Catalyst to $2.6 billion after scrapping a planned bond sale amid volatile markets. The loan, due to price later Wednesday, was increased from $2 billion after a $600 million bond was canceled and the deadline for lenders to commit to the d...
Banks led by JPMorgan Chase & Co. boosted a junk loan to support the purchase of Janus Henderson Group Plc by Nelson Peltz ’s Trian Fund Management and General Catalyst to $2.6 billion after scrapping a planned bond sale amid volatile markets. The loan, due to price later Wednesday, was increased from $2 billion after a $600 million bond was canceled and the deadline for lenders to commit to the deal was moved up a day from Thursday, according to a person familiar with the matter. Final terms were set at 2.75 percentage points above the benchmark at a discounted price of 99.5 cents, which was revised up from a range of 98.5 to 99 cents, according to the person, who asked not to be named discussing private details. As the Janus deal nears the finish line, banks have offloaded the bulk of roughly $30 billion of junk debt tied to buyouts that’s been marketed to institutional investors in the past couple of weeks. That includes an almost $15 billion debt package to help finance video game-maker Electronic Arts Inc.’s record buyout, and a $6.9 billion transaction to back Nexstar Media Group Inc.’s acquisition of fellow TV-station owner Tegna Inc., both of which saw their debt offering mix shift prior to pricing. Read more: EA Debt Sale Racks Up $45 Billion Demand With Loan Boosted Again Several recent deals in the leveraged finance market have had to be reworked during marketing to get financing over the line, with portions shifting between loans and bonds as markets were roiled by the war on Iran. The market has also been under pressure over concerns of potential disruption from artificial intelligence. The Janus financing will also include $1 billion of convertible preferred debt and $3.6 billion of common equity. Trian and General Catalyst agreed to buy Janus Henderson in December, in a deal that valued the asset manager at about $7.4 billion. Trian already owned 20.6% of Janus Henderson’s shares and has been represented on the board since 2022. Victory Capital Holdin...
TanawatPontchour/iStock via Getty Images When uncertainty roils markets, as is the case right now, it is natural for investors to get knocked off balance, and when off balance, they make investment decisions that they often regret later. It is during those times that it helps to have a core set of beliefs about markets and an investment philosophy that reflects those beliefs. You may not be able t...
TanawatPontchour/iStock via Getty Images When uncertainty roils markets, as is the case right now, it is natural for investors to get knocked off balance, and when off balance, they make investment decisions that they often regret later. It is during those times that it helps to have a core set of beliefs about markets and an investment philosophy that reflects those beliefs. You may not be able to mend the damage to your portfolio, but it will help you find balance again and make sense of the noise around you. As an investor, my investment philosophy has been a work in progress, but I have had an interest in how the investors around me develop their philosophies, and why differences persist. That interest was precipitated by a seminar class that I organized for NYU Stern MBAs in the late 1990s, where successful investors with very different market perspectives and investing styles presented their points of view, and students struggled to reconcile their different and contradictory points of view. In the aftermath of the class, I started working on a book and a class on investment philosophies, where the endgame was not to find the "best" philosophy but to provide a framework for investors to find the philosophy that best fits them. The first edition of the book came out almost two decades ago, followed by a second edition in 2012. In conjunction with the second edition of the book, I created a free online version of the class on my webpage in the same year, and NYU created a certificate class about six years later for the class. While my core thinking on investment philosophies has not changed, markets and the economy have, and both the book and the class have been in need of an update. I spent the last few months working on that update, and the third edition should be available at bookstores in the coming week, and in conjunction, I have an updated (free) online version of the class on my webpage and on YouTube. The Origins In the late 1990s, I was approached by t...
A jury finds that Meta and YouTube should pay $6 million in damages over accusations their algorithms are addictive. CNN Media Analyst Sara Fischer explains why it’s a seminal case.
A jury finds that Meta and YouTube should pay $6 million in damages over accusations their algorithms are addictive. CNN Media Analyst Sara Fischer explains why it’s a seminal case.
In the seven and a half years since Apple Inc. ’s market capitalization broke through the $1 trillion mark, investors have become accustomed to seeing big tech companies command 13-digit valuations in public markets. There are more on the way. SpaceX , the space exploration company controlled by Tesla Inc. founder and world’s richest man Elon Musk , has signaled it is planning a mega-initial publi...
In the seven and a half years since Apple Inc. ’s market capitalization broke through the $1 trillion mark, investors have become accustomed to seeing big tech companies command 13-digit valuations in public markets. There are more on the way. SpaceX , the space exploration company controlled by Tesla Inc. founder and world’s richest man Elon Musk , has signaled it is planning a mega-initial public offering in the coming months. Artificial intelligence rivals OpenAI and Anthropic also might go public this year, and their private valuations already have soared into the hundreds of billions of dollars. The SpaceX IPO is expected to raise as much as $75 billion , Bloomberg reported, which would shatter the previous record set by Saudi Aramco ’s $29.4 billion listing in 2019. SpaceX could seek a valuation of more than $1.75 trillion, though whether public-market investors will be prepared to buy shares supporting that valuation remains to be seen. SpaceX has morphed from a relative underdog in the space industry to an aerospace behemoth that receives billions of dollars in government contracts and serves as a backbone for the US space program. In addition to its rocket launch business, SpaceX owns a satellite-based internet broadband service, Starlink, that has become the company’s main cash flow generator. Following an all-stock acquisition in February of xAI, SpaceX also owns Grok, a money-burning AI operation whose flagship product is the Grok AI assistant. X, the microblogging site previously known as Twitter, rounds out its portfolio of businesses. A SpaceX IPO would be a huge market spectacle as investors large and small get a chance to buy into Musk’s fast-evolving vision to create a combined space and AI powerhouse. Yet skeptics say investors might worry that Musk will deplete SpaceX, a company that is the clear leader in its industry, to fund xAI, one of many players in a crowded field. Why is SpaceX planning an IPO? Even though SpaceX is believed to have signi...