Eli Lilly announced Monday it will acquire Kelonia Therapeutics for $3.25 billion upfront to expand its oncology and genetic medicines pipeline. The acquisition centers on in vivo CAR-T technology and KLN-1010, an investigational one-time intravenous gene therapy designed to generate anti-BCMA CAR-T cells for multiple myeloma. Early Phase 1 results were presented at the 2025 ASH Annual Meeting. Li...
Eli Lilly announced Monday it will acquire Kelonia Therapeutics for $3.25 billion upfront to expand its oncology and genetic medicines pipeline. The acquisition centers on in vivo CAR-T technology and KLN-1010, an investigational one-time intravenous gene therapy designed to generate anti-BCMA CAR-T cells for multiple myeloma. Early Phase 1 results were presented at the 2025 ASH Annual Meeting. Lilly said Kelonia’s iGPS platform enables in vivo gene placement using engineered lentiviral particles, avoiding autologous manufacturing. The deal is expected to close in the second half of 2026, pending regulatory approvals. Earlier this year, Lilly agreed to acquire Orna Therapeutics and partnered with Nvidia to advance AI-driven drug discovery.
The bright yellow livery of Spirit Airlines may soon disappear from the skies. The country's seventh-largest airline has been in financial trouble for years: It hasn't turned a profit since 2019 and filed for bankruptcy twice in the last two years . Despite all that, its leaders predicted that the airline could exit bankruptcy and return to profitability as early as 2027. It just needed time and a...
The bright yellow livery of Spirit Airlines may soon disappear from the skies. The country's seventh-largest airline has been in financial trouble for years: It hasn't turned a profit since 2019 and filed for bankruptcy twice in the last two years . Despite all that, its leaders predicted that the airline could exit bankruptcy and return to profitability as early as 2027. It just needed time and a little stability to do so. That time may have run out. On Monday, April 20th, Spirit approached the government to ask for a federal bailout . The sudden rise in fuel prices caused by the war in Iran will add an estimated $360 million in unexpected c … Read the full story at The Verge.
bo feng/iStock via Getty Images Thesis Summary Just a few months ago, Credo Technology Group Holding Ltd ( CRDO ) looked like a casualty of the AI cycle. After rallying 400% in 1 year, Credo stock lost around 50% of its value, following the narrative that copper connectivity was a thing of the past. But that narrative was wrong on two accounts. Firstly, because Credo’s products are still a very in...
bo feng/iStock via Getty Images Thesis Summary Just a few months ago, Credo Technology Group Holding Ltd ( CRDO ) looked like a casualty of the AI cycle. After rallying 400% in 1 year, Credo stock lost around 50% of its value, following the narrative that copper connectivity was a thing of the past. But that narrative was wrong on two accounts. Firstly, because Credo’s products are still a very integral part of the current AI supply chain. And secondly, because with the acquisition of DustPhotonics, Credo has repositioned itself from a single-solution provider into a full-stack platform with both electrical and optical offerings. Now Credo is back to all-time highs in just a month, and I’d argue there’s more room to run here. The Great Selloff: When Narrative Overtook Reality The sell-off we saw in Credo earlier in the year can be traced back to one specific moment. Nvidia ( NVDA ) CEO Jensen Huang mentioned his company was exploring CPOs (co-packaged optics), and the market did the rest. A whole narrative was built around the idea that copper does not scale, and therefore optics is the future. This, in spite of the fact that Credo was delivering triple-digit growth and robust profitability. Since then, Jensen himself has confirmed that Nvidia is pursuing both copper and optics . Meanwhile, Credo has also decided to pursue a dual strategy by buying DustPhotonics. The Strategic Pivot The recent DustPhotonics acquisition has marked a turning point, both for sentiment and the stock. DustPhotonics uses Silicon Photonics to create Integrated Circuits. In other words, it uses light, or optics, to deliver a similar end product to Credo’s. By bringing silicon photonics capabilities in-house, Credo effectively eliminated the core bear argument to the investment thesis. CRDO revenue pillars (Instagram) Now, it’s important to understand that Credo already has exposure to politics, as well as many other areas in the AI space, but it's driven by its AEC revenues. With the acquis...
After months of rumors and reports that OpenAI was developing a new, more powerful AI large language model for use in ChatGPT and through its application programming interface (API), allegedly codenamed "Spud" internally, the company has today unveiled its latest offering under the more formal name GPT-5.5 . And to likely no one's surprise, it's hardly a "potato" in the disparaging sense of the wo...
After months of rumors and reports that OpenAI was developing a new, more powerful AI large language model for use in ChatGPT and through its application programming interface (API), allegedly codenamed "Spud" internally, the company has today unveiled its latest offering under the more formal name GPT-5.5 . And to likely no one's surprise, it's hardly a "potato" in the disparaging sense of the word: GPT-5.5 retakes the lead for OpenAI in generally available LLMs, coming ahead of rivals Anthropic's and Google's latest public offerings, and even beating the private Anthropic Claude Mythos Preview model narrowly on one benchmark (essentially a statistical tie). "It’s definitely our strongest model yet on coding, both measured by benchmarks and based on the feedback that we’ve gotten from trusted partners, as well as our own experience," explained Amelia ‘Mia’ Glaese, VP of Research at OpenAI, in a video call with journalists ahead of the launch earlier today. OpenAI positions GPT-5.5 as a fundamental redesign of how intelligence interacts with a computer's operating system and professional software stacks. "What is really special about this model is how much more it can do with less guidance," said OpenAI co-founder and president Greg Brockman on the same call. "It’s way more intuitive to use. It can look at an unclear problem and figure out what needs to happen next." Brockman proceeded to emphasize the areas in which users can expect to see gains from using GPT-5.5 compared to OpenAI's prior state-of-the-art model, GPT-5.4, which remains available (for now) to users and enterprises at half the API cost of its new successor. "It’s extremely good at coding," Brockman said of GPT-5.5. "It’s also great at broader computer work, computer use, scientific research—these kinds of applications that are very intelligent bottlenecks." A focus on agency At the core of GPT-5.5 is a focus on "agentic" performance—specifically in coding, computer use, and scientific research. Unli...
“We’re doing this as part of our continued effort to run the company more efficiently and to allow us to offset the other investments we’re making,” Meta’s chief people officer, Janelle Gale, wrote in a memo announcing the news to staff. Laid off workers will receive severance of 16 weeks of base pay, plus two additional weeks for every year they have been with the company, Gale added.
“We’re doing this as part of our continued effort to run the company more efficiently and to allow us to offset the other investments we’re making,” Meta’s chief people officer, Janelle Gale, wrote in a memo announcing the news to staff. Laid off workers will receive severance of 16 weeks of base pay, plus two additional weeks for every year they have been with the company, Gale added.
J Studios/DigitalVision via Getty Images CRWV Stock: New Deals With Top AI players I last wrote on CoreWeave, Inc. ( CRWV ) on Feb. 12. That article served as a preview of its FQ4 2025 earnings report and rated the stock as a hold. Since then, there have been a few notable developments evolving around this AI infrastructure company. The rest of this article will focus on the top two on my mind: th...
J Studios/DigitalVision via Getty Images CRWV Stock: New Deals With Top AI players I last wrote on CoreWeave, Inc. ( CRWV ) on Feb. 12. That article served as a preview of its FQ4 2025 earnings report and rated the stock as a hold. Since then, there have been a few notable developments evolving around this AI infrastructure company. The rest of this article will focus on the top two on my mind: the new deals the company has inked and the company’s latest financing activities. Overall, these developments have kept leading me to mixed feelings. On the positive side, these developments have led me to see CoreWeave’s strategic positioning to capture share of the massive market of AI infrastructure as a service (IAAS). But on the negative side, these developments also cause me to be concerned about the financial health of the company. Let me start with the positives. Since my last writing, CRWV has announced several new strategic alliances with top-tier AI companies. In addition to Nvidia ( NVDA ) and OpenAI, CRWV has recently also added Anthropic and Meta to its list of customers (see the news below for more details): Seeking Alpha news: CoreWeave shares rose 7% in premarket trading Thursday after the company announced an expanded long-term agreement with Meta Platforms ( META ) to provide AI cloud capacity through December 2032, valued at about $21B. The deal builds on an existing partnership and will support Meta ’s AI development, with the company using CoreWeave ’s platform to scale inference workloads. Seeking Alpha News: Anthropic ( ANTHRO ) has agreed to lease data center capacity from CoreWeave to support rising demand for its artificial intelligence services, with the multi-year deal set to bring additional compute online starting later this year. These new deals suggest to me that 1) the strong demand for AI computing power has a long runway ahead, and 2) CRWV’s strong position on this front is thanks to its unique IAAS model and also proprietary software that...
Live Nation lost a recent monopoly trial, but it's not as bad as it looks. The scope of the trial was narrow and Live Nation has a Justice Department settlement. That means the likelihood of a Ticketmaster breakup is low. Live Nation is unlocking “owner economics” through high-margin ancillary revenue like concessions, parking, VIP experiences and sponsorships. With expected 8% annual growth for t...
Live Nation lost a recent monopoly trial, but it's not as bad as it looks. The scope of the trial was narrow and Live Nation has a Justice Department settlement. That means the likelihood of a Ticketmaster breakup is low. Live Nation is unlocking “owner economics” through high-margin ancillary revenue like concessions, parking, VIP experiences and sponsorships. With expected 8% annual growth for the live events global market, an expanding international footprint, and “event-ization” driving higher per-cap spending, Live Nation is well positioned to capture increasing fan spending and increase profits. Don't look now, but Live Nation is shedding its low-margin promoter roots and emerging as a dominant venue owner/operator that increasingly commands the kind of premium valuation multiple its scale, control and economics justify. With the threat of a regulatory breakup of Ticketmaster now largely a remote possibility, Live Nation's market position is safe, and its vertically integrated flywheel — which allows it to control artists, venues, ticketing and sponsorship — will help it capture a larger share of each fan dollar. Venue Nation, Live Nation's dedicated division for building, acquiring, developing and operating a global portfolio of large-scale venues, creates a massive and hard-to-replicate moat through scarce real estate, long-term contracts, and scale, positioning the company for sustained growth, margin expansion and potential equity upside. Building the 'flywheel' Following the Telecommunications Act of 1996, which deregulated the industry, Robert Sillerman led SFX Entertainment in consolidating what was then a largely fragmented concert promotions industry through the purchase of many smaller independently operated concert promotions companies. SFX was sold to Clear Channel in 2000 for $3 billion and then spun off as Live Nation in 2005. Live Nation merged with Ticketmaster in 2010 laying the groundwork for it to consolidate the concert promotion and ticket...