We Are/DigitalVision via Getty Images PORTFOLIO MANAGERS Gene Robin, CFA Lead Portfolio Manager 1 YEAR ON FUND / 2 YEARS AT WASATCH Thomas Bradley Lead Portfolio Manager 4 YEARS ON FUND / 11 YEARS AT WASATCH Overview U.S. micro cap stocks were volatile, as shifting investor sentiment drove sharp rotations within the market. Enthusiasm around artificial intelligence (AI) continued to support compan...
We Are/DigitalVision via Getty Images PORTFOLIO MANAGERS Gene Robin, CFA Lead Portfolio Manager 1 YEAR ON FUND / 2 YEARS AT WASATCH Thomas Bradley Lead Portfolio Manager 4 YEARS ON FUND / 11 YEARS AT WASATCH Overview U.S. micro cap stocks were volatile, as shifting investor sentiment drove sharp rotations within the market. Enthusiasm around artificial intelligence (AI) continued to support companies tied to the infrastructure buildout for these technologies. Each wave of new AI product releases also sparked periodic selloffs across industries perceived as vulnerable to disruption, including software. Geopolitical tensions later in the quarter, particularly surrounding conflict involving Iran, added to uncertainty and contributed to market swings amid fears of higher oil prices and their impact on the global economy. We share our views on both issues in the Outlook section of this commentary. Amid this environment, the benchmark Russell Microcap® Index ended the period up 1.49%. The Wasatch Micro Cap Value Fund—Investor Class ( WAMVX ) finished the period down -2.65%. Within the Fund, stock selection in the information-technology (IT), consumer-staples and financials sectors detracted the most from performance relative to the benchmark. Conversely, stock selection in the industrials sector and lack of exposure to the communications-services sector contributed the most to relative results. The performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the data quoted. For the most recent month-end performance data, visit wasatchglobal.com . Investment returns and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost. The Advisor may absorb certain expenses, without which total returns would have been lower. Wasatch Funds will deduct a 2% redemption fee on Fund shares held 60 days or less. Performance data do not reflect ...
Lucy Powell calls for tougher laws to tackle misinformation and says Reform UK has benefited from bots and troll farms Reform UK is destabilising British democracy by spreading divisive material that is being amplified by bots and troll farms, Labour’s deputy leader has said. Lucy Powell called for tighter laws on social media giants to tackle misinformation, arguing the online space was “open to ...
Lucy Powell calls for tougher laws to tackle misinformation and says Reform UK has benefited from bots and troll farms Reform UK is destabilising British democracy by spreading divisive material that is being amplified by bots and troll farms, Labour’s deputy leader has said. Lucy Powell called for tighter laws on social media giants to tackle misinformation, arguing the online space was “open to wealthy individuals, and bad state actors”. Continue reading...
Revolut Ltd. is looking to run a secondary share sale that would value the digital bank at $115 billion, on the heels of receiving a UK bank license and applying for a charter in the US, according to people with knowledge of the matter. Any such deal would allow early investors and employees to sell shares and generate liquidity, said the people, who asked not to be identified discussing private i...
Revolut Ltd. is looking to run a secondary share sale that would value the digital bank at $115 billion, on the heels of receiving a UK bank license and applying for a charter in the US, according to people with knowledge of the matter. Any such deal would allow early investors and employees to sell shares and generate liquidity, said the people, who asked not to be identified discussing private information. A formal process could kick off as soon as this month, though details have not been finalized and the company is still sounding out investors, the people said. A representative for Revolut declined to comment. Chairman Martin Gilbert is meeting with potential investors in a secondary deal to the Monaco Grand Prix this weekend, though has set no particular agenda, according to people with knowledge of the matter. Revolut has largely relied on secondary transactions in recent years to bring on new investors. Such deals have generally come with an increase in valuation for the company. If the firm hits a valuation of $115 billion, Chief Executive Officer Nik Storonsky would be granted additional shares of Revolut that would boost the value of his stake to at least $36 billion, according to internal company documents. Read More: Revolut Founder Is Building Launch Pad for a $76 Billion Fortune Revolut last clinched a valuation of $75 billion in November in a deal that allowed current employees to sell shares. Investors including Coatue Management , Andreessen Horowitz and Nvidia Corp. ’s venture capital arm participated in the deal. Storonsky has said the bank would weigh launching more secondary sales before any initial public offering. He wants to take the digital bank public, but that won’t happen until at least 2028, he said in an interview with David Rubenstein. Read More: Revolut CEO Storonsky Says Digital Bank’s IPO Is Two Years Out The digital bank applied for a US bank charter earlier this year and is awaiting a decision. Revolut has also received a full ban...
Arm Holdings (NasdaqGS:ARM) CEO flagged major hurdles for global chip export controls, saying AI CPU shipments to China are extremely difficult to fully restrict. The CEO also highlighted rapid data center CPU adoption, with ByteDance and Oracle using Arm based AGI CPUs in their AI data centers. These comments point to both regulatory complexity around AI hardware exports and deeper penetration of...
Arm Holdings (NasdaqGS:ARM) CEO flagged major hurdles for global chip export controls, saying AI CPU shipments to China are extremely difficult to fully restrict. The CEO also highlighted rapid data center CPU adoption, with ByteDance and Oracle using Arm based AGI CPUs in their AI data centers. These comments point to both regulatory complexity around AI hardware exports and deeper penetration of Arm designs in large scale AI infrastructure. For investors watching Arm Holdings at a share...
At $242.57, Qualcomm (NASDAQ:QCOM) is a Hold. A pullback toward $185 would offer a more attractive entry for investors evaluating fresh capital deployment. The stock has run too far, too fast after a quarter that fundamentals do not yet justify. Qualcomm is the dominant supplier of premium smartphone application processors and modems, with growing footprints ... 1 High-Flying Artificial Intelligen...
At $242.57, Qualcomm (NASDAQ:QCOM) is a Hold. A pullback toward $185 would offer a more attractive entry for investors evaluating fresh capital deployment. The stock has run too far, too fast after a quarter that fundamentals do not yet justify. Qualcomm is the dominant supplier of premium smartphone application processors and modems, with growing footprints ... 1 High-Flying Artificial Intelligence Stock You Might Want to Avoid Buying Right Now
Key PointsCFO Shawn Tabak sold 30,000 shares for a transaction value of approximately ~$303,000 on May 26, 2026, at a weighted average price of around $10.08 per share.
Key PointsCFO Shawn Tabak sold 30,000 shares for a transaction value of approximately ~$303,000 on May 26, 2026, at a weighted average price of around $10.08 per share.
A vaccine targeting a broad range of viruses that was designed using artificial intelligence had a “modest” effect on immune systems in a small, early trial, according to a new study. The trial marks the first time a vaccine whose active ingredient was entirely designed by AI has been tested in humans, researchers at the University of Cambridge in the UK said on Friday. The experimental jab is int...
A vaccine targeting a broad range of viruses that was designed using artificial intelligence had a “modest” effect on immune systems in a small, early trial, according to a new study. The trial marks the first time a vaccine whose active ingredient was entirely designed by AI has been tested in humans, researchers at the University of Cambridge in the UK said on Friday. The experimental jab is intended to be a “universal vaccine” which protects people against a range of viruses that have...
In recent weeks, Oracle has drawn intense attention ahead of its June 10 earnings release as investors weigh aggressive AI data center spending, heavy capital requirements, and capacity constraints against strong cloud and AI demand signals, large remaining performance obligations, and expanding hyperscaler-scale partnerships. With Oracle helping lead a hyperscaler cohort projected to spend hundre...
In recent weeks, Oracle has drawn intense attention ahead of its June 10 earnings release as investors weigh aggressive AI data center spending, heavy capital requirements, and capacity constraints against strong cloud and AI demand signals, large remaining performance obligations, and expanding hyperscaler-scale partnerships. With Oracle helping lead a hyperscaler cohort projected to spend hundreds of billions of US dollars on AI infrastructure and partnering on large projects like the...
In late May 2026, Baidu outlined its aggressive pivot toward artificial intelligence at the Morgan Stanley Asia AI Summit in Taipei, highlighting intensified investment in its ERNIE foundation models and confirming plans to spin off and list its Kunlunxin semiconductor unit in Hong Kong. This move to separate and publicly list its chip business underscores Baidu’s ambition to build a more focused ...
In late May 2026, Baidu outlined its aggressive pivot toward artificial intelligence at the Morgan Stanley Asia AI Summit in Taipei, highlighting intensified investment in its ERNIE foundation models and confirming plans to spin off and list its Kunlunxin semiconductor unit in Hong Kong. This move to separate and publicly list its chip business underscores Baidu’s ambition to build a more focused AI and semiconductor ecosystem, even as it contends with profitability pressures and mixed...
Chipotle Mexican Grill ( CMG ) shares advanced by over 5% on Friday, putting it on track to snap six straight sessions of losses after JPMorgan upgraded the stock to Overweight from Neutral. It rose 5.25% to $29.66 during afternoon trading. As shares of the firm traded below $30, J.P. Morgan’s John Ivankoe saw the risk/reward skewing more favorably to the upside. “We believe a rare valuation oppor...
Chipotle Mexican Grill ( CMG ) shares advanced by over 5% on Friday, putting it on track to snap six straight sessions of losses after JPMorgan upgraded the stock to Overweight from Neutral. It rose 5.25% to $29.66 during afternoon trading. As shares of the firm traded below $30, J.P. Morgan’s John Ivankoe saw the risk/reward skewing more favorably to the upside. “We believe a rare valuation opportunity has emerged at CMG as the stock’s multiple has now fully re-rated to reflect a more moderate—yet still well above average—growth profile,” Ivankoe said in his note to clients. The burrito maker lost more than 13% between May 28 and June 4. On a YTD basis, it has lost more than 19%. Looking at Seeking Alpha’s quant rating , the stock has been rated a Hold with a score of 2.76 out of 5. CMG has been rated an A for its profitability but a D- for its valuation. Seeking Alpha analysts, on the other hand, were optimistic on the stock and recommended to Buy it. Wall Street analysts were also bullish with a Buy call. On Thursday, Seeking Alpha analyst Andrea De Vico also rated the stock as Buy, arguing that the market was undervaluing its recovery potential. “I see current headwinds as cyclical, not structural, with operational catalysts—HEAP equipment rollout and loyalty program enhancements—already visible and measurable,” De Vico said. More on Chipotle Mexican Grill Chipotle: The Trough Is Not The Trend Chipotle Mexican Grill, Inc. (CMG) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript Chipotle Is Becoming A Less Profitable, Less Appealing Business Chipotle Mexican Grill's valuation, risk/reward profile presents buying opportunity—J.P. Morgan Taco Bell is set up better for the macroeconomic backdrop than Chipotle - Morgan Stanley
Software has dominated venture capital for years, but as AI moves beyond the digital world and into manufacturing, robotics, and industrial systems, investors are betting the next trillion-dollar opportunities wraps software into the physical world. Nina Achadjian, partner at Index Ventures, an early backer of companies including Anthropic, Physical Intelligence, and ServiceTitan, discusses the ne...
Software has dominated venture capital for years, but as AI moves beyond the digital world and into manufacturing, robotics, and industrial systems, investors are betting the next trillion-dollar opportunities wraps software into the physical world. Nina Achadjian, partner at Index Ventures, an early backer of companies including Anthropic, Physical Intelligence, and ServiceTitan, discusses the next frontier in AI and the SpaceX IPO's significance on the venture space. She joins Ed Ludlow on "Bloomberg Tech" (Source: Bloomberg)
watch now VIDEO 1:28 01:28 U.S. government reportedly weighing financial stake in AI companies TechCheck OpenAI CEO Sam Altman and the White House are in ongoing talks about a possible government stake in the artificial intelligence company, CNBC confirmed on Friday. The discussions have been in progress for more than a year, as Altman first shared the idea with the Trump administration in 2025, a...
watch now VIDEO 1:28 01:28 U.S. government reportedly weighing financial stake in AI companies TechCheck OpenAI CEO Sam Altman and the White House are in ongoing talks about a possible government stake in the artificial intelligence company, CNBC confirmed on Friday. The discussions have been in progress for more than a year, as Altman first shared the idea with the Trump administration in 2025, according to a source familiar with the matter who asked not to be named because the details are confidential. The talks continued this week as Altman met with a range of lawmakers and officials in Washington, D.C., about regulation and the latest developments in AI. As part of the potential agreement, OpenAI could donate equity to the U.S. government to seed something like the " Public Wealth Fund " that the company outlined in its April policy proposal, the person said. OpenAI said the fund could "invest in diversified, long-term assets" and would allow citizens to participate in the "upside" of AI growth, possibly by receiving the fund's returns directly, according to the proposal. No official investment terms have been decided, and the details are still subject to change. Notus was first to report the recent talks. Read more CNBC tech news Meta is trying to sell AI agents to businesses in latest effort to diversify away from ads SpaceX targets fixed $135 IPO roadshow price at $1.75 trillion valuation, source says OpenAI CEO Sam Altman to meet with lawmakers, Trump officials in D.C. Tesla's China-made EV sales jump nearly 40% in May as domestic market rebounds President Donald Trump signed an executive order in February calling for the federal government to establish a sovereign wealth fund. The Trump administration has already taken stakes in Intel , International Business Machines and other quantum and critical mineral companies during the president's second term. Sen. Bernie Sanders, I-Vt. told CNBC that he and Altman discussed the concept of a sovereign wealth fund du...
July NY world sugar #11 (SBN26 ) today is down -0.10 (-0.70%), and Aug London ICE white sugar #5 (SWQ26 ) is down -2.50 (-0.56%). Sugar prices are moving lower today, under pressure from weakness in crude oil and the Brazilian real. WTI crude oil (CLN26 ) is down more...
July NY world sugar #11 (SBN26 ) today is down -0.10 (-0.70%), and Aug London ICE white sugar #5 (SWQ26 ) is down -2.50 (-0.56%). Sugar prices are moving lower today, under pressure from weakness in crude oil and the Brazilian real. WTI crude oil (CLN26 ) is down more...
Ian Cinnamon, Apex CEO, joins after the company raised more than $200 million as it works to increase production of satellite platforms for commercial firms and government work, including the development of President Trump's Golden Dome missile defense shield. He joins Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)
Ian Cinnamon, Apex CEO, joins after the company raised more than $200 million as it works to increase production of satellite platforms for commercial firms and government work, including the development of President Trump's Golden Dome missile defense shield. He joins Ed Ludlow on "Bloomberg Tech." (Source: Bloomberg)