Alpha Coverage #113
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Editor’s Pick:
[News] BioNTech to license bispecific antibody to Bristol in up to $11.1B deal
Bristol Myers Squibb (NYSE:BMY) is paying up to $11.1B in a licensing agreement to help develop BioNTech's (NASDAQ:BNTX) immunotherapy bispecific antibody BNT327 for solid tumors.
The candidate, which targets PD-L1 and VEGF-A, is in several ongoing trials, including one in phase 3 as a first-line treatment in extensive stage small cell lung cancer and non-small cell lung cancer. A phase 3 trial in triple negative breast cancer is slated to begin by the end of the year.
Terms call for both companies to jointly develop and commercialize BNT327. Bristol and BioNTech each have the right to develop the candidate in other indications and combinations.
BMS will make a $1.5B upfront payment and $2B in combined non-contingent anniversary payments through 2028. BioNTech is also eligible for up to $7.6B in milestone payments.
The two companies will share joint development and manufacturing costs equally. The same arrangement is for global profits or losses.
Link to Seeking Alpha News Article - Jun. 02, 2025
[News] Constellation Energy surges as Meta signs deal to buy nuclear power
Constellation Energy (NASDAQ:CEG) +13.9% pre-market Tuesday after unveiling an agreement to sell power to Meta Platforms (NASDAQ:META) from an operating Illinois nuclear plant for 20 years, as artificial intelligence sends power demand soaring.
Constellation (NASDAQ:CEG) said the agreement supports the relicensing and continued operations of its Clinton nuclear facility in Illinois for another two decades starting in June 2027 after the state's ratepayer funded zero emission credit program expires; the deal will expand Clinton's clean energy output by 30 MW through plant uprates.
The deal is the first deal of its kind in the U.S. with an operating nuclear plant, according to The Wall Street Journal, but has parallels to one that Constellation (NASDAQ:CEG) and Microsoft struck last year involving the Three Mile Island plant in Pennsylvania, in which a 20-year power purchase agreement is prompting the restart of that site's undamaged reactor, which already was undergoing decommissioning; neither deal removes power from the grid.
The company also said it is evaluating strategies to extend the plant's existing early site permit or seek a new construction permit from the Nuclear Regulatory Commission to pursue development of an advanced nuclear reactor or small modular reactor at the Clinton site.
Link to Seeking Alpha News Article - Jun. 03, 2025
[News] Hims & Hers to acquire European digital health platform ZAVA in global expansion drive
The strategic move is expected to expand the company's presence in the U.K., and officially launch into the markets of Germany, France, and Ireland.
Hims & Hers anticipates entering into more markets soon.
The company said it is set to establish its own branded presence, leveraging the ZAVA platform, in each of the European markets in the coming quarters.
The deal is expected to be accretive by 2026.
The 100% cash acquisition will be funded from the company's balance sheet at closing.
The transaction is expected to close in the second half.
The terms of the transaction were not disclosed.
Link to Seeking Alpha News Article - Jun. 03, 2025
[News] Redwire awarded contract by Aspera Biomedicines
Redwire (NYSE:RDW) has been awarded a contract from Aspera Biomedicines to conduct space-based research and analysis on a new cancer treatment using Redwire’s Pharmaceutical In-space Laboratory (PIL-BOX) technology.
Aspera will use this mission to advance development of rebecsinib, a small molecule ADAR1 inhibitor recently approved by the U.S. Food and Drug Administration to begin first-in-human trials.
Link to Seeking Alpha News Article - Jun. 03, 2025
[News] Redwire pushes ahead with plans to help with manufacturing efforts on the Moon and Mars
Redwire Corporation (NYSE:RDW) announced on Wednesday that its advanced lunar and Martian manufacturing technology has passed Critical Design Review with NASA participation.
The company's Mason tool suite is designed to operate on the Moon and Mars to enable the construction of berms, landing pads, and roads for future lunar and Martian habitats. The project, managed under a Tipping Point agreement with NASA’s Space Technology Mission Directorate, is part of a $12.9 million award to prototype Mason for broader plans to support a long-term presence and exploration on the lunar surface.
Designed to be scalable and platform agnostic for use on different landers, rovers, or robotic arms, Mason can convert lunar or Martian regolith into a strong, solid material similar to concrete.
Link to Seeking Alpha News Article - Jun. 04, 2025
[News] Amazon set to test AI-powered humanoid robots for deliveries - The Information
The e-commerce giant is building a "humanoid park" - an indoor obstacle course - at one of its offices in San Francisco to test the robots. It is planning to test a variety of humanoid robots, including one from China-based Unitree.
Amazon (NASDAQ:AMZN) aims to enable the robots to hitch a ride in the back of its Rivian (RIVN) delivery vans and "spring out" to deliver packages. There is currently one such van in the park for testing, according to the report.
To note, Amazon (NASDAQ:AMZN) already has more than 750,000 robots across its network, but these are deployed in its fulfillment centers, which are closed environments.
Link to Seeking Alpha News Article - Jun. 06, 2025
[News] Flying taxi stocks soar after the White House announced an eVTOL pilot program
The eVTOL sector saw a late Friday jolt after the White House disclosed that President Trump signed an executive action establishing an electric "Vertical Takeoff and Landing" integration pilot program.
The order will select at least five pilot projects to advance eVTOL applications like cargo transport and medical response.
Link to Seeking Alpha News Article - Jun. 06, 2025
Link to White House Press Release - Jun. 06, 2025
News, Facts, Analyst & Market Commentary - Short Reads:
[Newsletter Exclusive] Nvidia, Oracle could see huge revenue boosts from Stargate data center in Texas: UBS
At full capacity, the data center in Abilene implies a demand of 400,000 Nvidia GB200s, which Keirstead said could be worth roughly $20B in revenue, depending upon the GPU mix. “We also see additional networking revenue that could push the total opportunity to $25B,” the analysts wrote in a note to clients.
Link to Seeking Alpha News Article - May 31, 2025
#Anthropic #OpenAI
Anthropic revenue hits $3B on annualized basis: report
Anthropic, the generative artificial intelligence startup backed by Amazon (NASDAQ:AMZN) and others, has reached the $3B revenue figure on an annualized basis, Reuters reported.
The $3B figure was reached just five months after it hit $1B on an annualized basis, the news outlet added, citing sources familiar with the matter. The metric reached $2B at the end of March and hit $3B this month, one of the sources added.
Anthropic has had success in selling its artificial intelligence models to companies, which has helped fuel the surge, another of the sources said.
In contrast, OpenAI, which competes with Anthropic, has largely generated its revenue from consumers. In March, it was reported that OpenAI expects its revenue to more than triple and reach $12.7B by the end of 2025.
Link to Seeking Alpha News Article - May 31, 2025
XOM 0.00%↑ EMN 0.00%↑ #HDLMY
Trump administration cancels $3.7B in clean energy projects, including at Exxon's Baytown
The U.S. Department of Energy said Friday it terminated 24 awards for clean energy projects totaling $3.7B that were issued under the Biden administration, including to an Exxon Mobil (NYSE:XOM) refinery complex in Texas.
Most of the projects would have increased investments in carbon capture and sequestration and other decarbonization technologies.
The Office of Clean Energy Demonstration awards the department axed include nearly $332M to a hydrogen project at Exxon Mobil's (NYSE:XOM) Baytown, Texas, refinery complex, $500M to Heidelberg Materials (OTCPK:HDLMY) for a low-carbon cement project in Louisiana, and $375M to Eastman Chemical (EMN) for a chemical recycling plant in Longview, Texas.
The DoE said nearly 70% of the awards had been signed between the November 5, 2024, election day and January 20, President Biden's last day in office, prompting Energy Secretary Chris Wright to accuse the Biden administration of rushing many of the projects through, claiming it "failed to conduct a thorough financial review before signing away billions of taxpayer dollars."
Link to Seeking Alpha News Article - May 31, 2025
Tesla not keen on making cars in India, minister says
Elon Musk's Tesla (NASDAQ:TSLA) is unlikely to manufacture electric vehicles in India in the near future, according to statements from India's Union Minister of Heavy Industries, H. D. Kumaraswamy, on June 2, 2025.
Despite India's recent efforts to attract global EV makers with a new, incentive-rich policy, Tesla's (NASDAQ:TSLA) immediate focus is likely on selling imported vehicles and opening showrooms, not on local production. “Tesla only wants to open showrooms and sell imported cars,” said Heavy Industries Minister Kumaraswamy on Monday, according to a report by The Economic Times.
India finalized an EV strategy that lowers import taxes for global automakers. Under its latest scheme, companies will be allowed to import a limited number of electric cars at a lower import duty of 15% versus the current 70% if they commit to investing $486M to build EVs in the country.
The policy has been in the works for a year and was originally designed to lure companies like Tesla (TSLA) to set up manufacturing domestically.
Link to Seeking Alpha News Article - Jun. 02, 2025
American steelmakers surge after Trump doubles tariffs on imported steel, aluminum to 50%
Shares of U.S. steel producers rally in pre-market trading Monday, with Cleveland-Cliffs (NYSE:CLF) +28.6%, Steel Dynamics (STLD) +13% and Nucor (NYSE:NUE) +10.3%, after President Trump said Friday that tariffs on imported steel and aluminum would increase to 50% from 25%, effective June 4.
The European Commission warned Monday that it could institute retaliatory trade measures in response to tariffs on steel and aluminum imports.
President Trump and China's President Xi Jinping will likely speak later this week, according to CNBC, which cited unnamed White House sources.
Link to Seeking Alpha News Article - Jun. 02, 2025
Link to Seeking Alpha News Article - Jun. 02, 2025
Tesla sales surge in Norway but continue to face headwinds across Europe
Thanks to zero-interest loans and the country’s embrace of alternative fuel vehicles, Tesla’s sales in Norway increased by 213% in May year-over-year to 2,600 vehicles with the newly revamped Model Y accounting for the majority sold.
The widespread adoption of EVs in the country may be attributed to incentives such as free parking for EVs, toll road discounts, and access to bus lanes. According to data from the Norwegian Road Federation cited by Reuters, nine out of ten cars sold in Norway were fully electric.
The EV maker hasn’t fared quite so well across the rest of Europe with sales in Sweden down 53.7% in May YoY, down 67% in France, down 68% in Portugal, -30.5% in Denmark, -36% in the Netherlands, and -19% in Spain.
According to the most recent data from the European Automobile Manufacturers’ Association for April, Tesla sales in Europe were down 53% to 5,475 vehicles while overall vehicle registrations in April were up 1.3% year-over-year (when including the UK, Iceland, Liechtenstein, Norway, and Switzerland, Tesla sales were down 49% to 7,261).
Although the controversy surrounding CEO Elon Musk is often cited for the sluggish sales, the company also faces stiff competition from cheaper Chinese rivals, as well as a shortage of Tesla’s (NASDAQ:TSLA) most popular Model Y early this year while the vehicle underwent a design remodel.
Link to Seeking Alpha News Article - Jun. 02, 2025
#Neuralink
[Newsletter Exclusive] Neuralink raises $650M through Series E funding round
Key investors from the latest funding round included ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners and Vy Capital.
Before this latest funding round, Neuralink was valued at $9B.
The company also revealed that five patients with severe paralysis are now successfully using a Neuralink implant to control digital and physical devices with their thoughts.
Link to Seeking Alpha News Article - Jun. 02, 2025
[Newsletter Exclusive] TSMC chief asserts AI chip demand outweighs supply, sees little tariff impact
Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSM) chief said that though U.S. tariffs have some impact on the company, the demand for its AI chips continues to outweigh supply.
TSMC Chief Executive and Chairman Dr. C.C. Wei said that they have not seen any changes in customer behavior due to tariff uncertainty as he spoke at the company's annual shareholders meeting in Hsinchu County, Taiwan.
When asked about media reports about the company looking at building chip factory in the UAE, Wei said that the company has no plans to develop any chip manufacturing in the Middle East.
Link to Seeking Alpha News Article - Jun. 03, 2025
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[Newsletter Exclusive] U.S. pushes countries for best trade offers by Wednesday as tariff deadline approaches - Reuters
In the draft, the US is asking countries to list their best proposals in a number of key areas, including tariff and quota offers for the purchase of US industrial and agricultural products and plans to remedy any non-tariff barriers, the report said.
The US will evaluate the responses within days and offer "a possible landing zone" that could include a reciprocal tariff rate, according to the letter.
Washington has been engaged in such talks with the European Union, Japan, Vietnam and India, among others.
The draft letter to trading partners also warns them not to believe the tariffs will be sidelined if the court rules against Trump's use of the IEEPA.
Link to Seeking Alpha News Article - Jun. 03, 2025
[Newsletter Exclusive] Global semiconductor market set to grow about 11% in 2025, hitting $700.9B - WSTS
After a strong rebound in 2024, the global semiconductor market is forecast to grow by 11.2% in 2025, reaching a total value of $700.9 billion, according to World Semiconductor Trade Statistics (WSTS).
The continued expansion is largely driven by strong performance in the logic and memory segments, both projected to see double-digit gains, supported by sustained demand in areas such as artificial intelligence, cloud infrastructure, and advanced consumer electronics.
Other segments, including sensors and analog, are also expected to grow, though at a more moderate pace.
Demand for AI chips and applications is soaring as companies invest billions to maintain a competitive edge in the race for dominance.
Link to Seeking Alpha News Article - Jun. 03, 2025
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[Newsletter Exclusive] U.S. India trade deal 'not too distant', says U.S. Commerce Secretary Lutnick
U.S. Commerce Secretary Howard Lutnick expressed optimism that a trade deal between India and the U.S. could be finalized soon. “You should expect a deal between the United States and India in the not-too-distant future,” he told the US-India Strategic Partnership Forum in Washington, calling himself “very optimistic.”
“We have found a place that works for both countries,” he added.
On the trade deal with India, he further said that “earlier countries get a better deal. That’s the way it is.” He noted that India is trying hard to be one of the earlier countries, “which I appreciate.”
Lutnick reiterated concerns over India’s “very protectionist tariffs,” stating that reducing them is essential for building a “proper trading relationship.”
The Trump administration has made clear that lowering tariffs and improving market access for U.S. businesses are top priorities.
Link to Seeking Alpha News Article - Jun. 03, 2025
Electrovaya receives additional $6.3 million order for Fortune 100 customer
Electrovaya (NASDAQ:ELVA) has received purchase orders through its OEM sales channel valued at approximately $6.3 million, it said on Tuesday.
The batteries will be used by a leading Fortune 100 e-commerce company in the United States for powering material handling electric vehicles in multiple distribution centers.
This order followed recently announced orders from the same end customer that were placed during the current fiscal year for a cumulative demand of over $16 million.
Additional orders are also under consideration, Electrovaya (NASDAQ:ELVA) said.
Link to Seeking Alpha News Article - Jun. 03, 2025
ETN 0.00%↑ #SMEGF
[Newsletter Exclusive] Eaton, Siemens Energy team up to accelerate delivery of new data center capacity
Eaton (NYSE:ETN) +0.9% pre-market Tuesday after partnering with Siemens Energy (OTCPK:SMEGF) to unveil a fast-track approach to building data centers with integrated onsite power, seeking to address urgent market needs by offering reliable grid-independent energy supplies and standardized modular systems to facilitate faster data center construction and deployment.
The companies said the collaboration will enable simultaneous construction of data centers and associated on-site power generation with grid connection and the integration of renewables to meet regional regulatory requirements, if required, with the intent to provide data center owners and developers with choices not currently available to enable them to build and run new data centers.
Siemens Energy (OTCPK:SMEGF) said its modular and scalable power plant concept is tailored to the specific needs of data center operators: The standard configuration generates 500 MW of electricity, featuring SGT-800 gas turbines, redundancy and additional battery storage systems, ensuring the highest reliability, and the size of the plant can be scaled up and down based on its modular approach.
Eaton (NYSE:ETN) said it will provide electrical equipment such as medium voltage switchgear, low voltage switchgear, UPS, busways, structural support, racks and containment systems, engineering services and the software offerings needed to protect and enable IT loads from the medium-voltage grid to the chip and help accelerate building and commissioning data centers with skidded and modular designs.
Link to Seeking Alpha News Article - Jun. 03, 2025
Joby Aviation rallies after highlighting a billion-dollar opportunity in Saudi Arabia
Joby Aviation (NYSE:JOBY) rallied on Tuesday after inking a deal with Abdul Latif Jameel to explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's (NYSE:JOBY) electric aircraft.
The memorandum of understanding announcement was noted to build upon the renewed economic partnership between the U.S. administration and the Saudi government towards shared innovation and transportation growth. Looking ahead, the potential delivery of up to 200 Joby (JOBY) aircraft and related services valued at approximately $1 billion are expected by the businesses over the coming years. In the long-term, Abdul Latif Jameel and Joby (JOBY) also see potential revenue opportunities across the Middle East.
Joby Aviation (JOBY) said the direct sale of aircraft through businesses such as Abdul Latif Jameel will form one pillar of its commercialization strategy.
The business plans to carry its first passengers in Dubai in 2026.
Link to Seeking Alpha News Article - Jun. 03, 2025
[Newsletter Exclusive] Broadcom unveils new chip focused on improving AI performance
The Tomahawk 6 switch is capable of providing 102.4 Terabits per second of switching capacity in a single chip – double the bandwidth of any Ethernet switch currently available on the market, the company said in a statement.
Broadcom executive Ram Velaga said “Demand from customers and partners has been unprecedented. Tomahawk 6 is poised to make a rapid and dramatic impact on the deployment of large AI clusters.”
Link to Seeking Alpha News Article - Jun. 03, 2025
[Newsletter Exclusive] Ways to invest in SpaceX before it goes public
Mutual funds and ETFs that hold SpaceX (SPACE) include ARK Venture Fund (MUTF:ARKVX), Baillie Gifford U.S. Growth Fund, Scottish Mortgage Investment Trust (OTCPK:STMZF), Edinburgh Worldwide Investment Trust (OTCPK:EWIIF), ERShares Crossover ETF (NASDAQ:XOVR), Baron Partners Fund (BPTRX), Destiny Tech100 Fund (NYSE:DXYZ), and the Fidelity Contrafund (MUTF:FCNTX).
Alphabet (GOOG) (GOOGL) and Bank of America (BAC) also hold stakes in SpaceX (SPACE), which gives investors in those stocks a very low level of indirect exposure.
SpaceX's (SPACE) last publicly reported valuation was $480 billion.
Link to Seeking Alpha News Article - Jun. 04, 2025
Rare earths are playing an outsized role in the U.S.-China trade war
It's not being publicly advertised, but access to rare earths is playing an outsized role in resurgent U.S.-China trade tensions. Following last month's détente in Geneva, it was apparently agreed that both sides would roll back retaliatory tariffs imposed since April 2, but there has been disagreement over export controls and sector-specific levies. China appears to be keeping in place a strict approvals process on rare earths that are used in everything from commercial vehicles to military equipment, while the U.S. has increased tariffs on steel and aluminum to 50%.
Carmakers have warned of dire consequences if things don't change quickly, with a trade group representing General Motors (GM), Toyota (TM) and other major producers recently sending a letter to the White House. "Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components," according to the Alliance for Automotive Innovation. On the military side, rare earth magnets are included in the production of fighter jets and aerospace components like missile guidance systems, impacting firms like Raytheon (RTX) and Lockheed Martin (LMT).
What are rare earths? Despite the name, there are deposits of them all over the world (some of them are even thousands of times more abundant than gold). The term refers to a group of 17 elements that are called "rare" since it is unusual to find them in pure form or in concentrated quantities. As a result, the minerals are difficult to mine and refine profitably, while byproducts like toxic wastewater and radioactive residues have to be addressed during extraction and processing.
Outlook: China undercut world prices for rare earths in the 1990s, resulting in heavy barriers to entry and putting pressure on upcoming challengers. Hopes of U.S. companies looking to break into the industry have also been dashed in the past due to strict environmental regulations, leading China to gain a 90% share of the world's refining capacity. It could take 5-10 years for any serious American production to get off the ground, and it's another reason why the Trump administration has made rare earths a prominent theme during negotiations with Ukraine and its play for Greenland.
Link to Seeking Alpha News Article - Jun. 04, 2025
[Newsletter Exclusive] CrowdStrike's Q1 results receive reactions ranging from downgrades to PT hikes
Some of the disconnect between annual recurring revenue and reported revenue stems from CrowdStrike's Customer Commitment Package, or CCP. The CCP was created in response to a widespread outage from July 2024. It offered customers additional products and training for free for a limited time to help retain clients.
"As we previously discussed, our successful CCP program that concluded in Q4 of FY '25 provided customers the onetime ability to choose more product, more time or both, which results in an impact to subscription revenue," said CrowdStrike Chief Financial Officer Burt Podbere, during Tuesday night's earnings call.
"As a result of these CCP-related programs, we expect to see a temporary near-term separation between ARR and subscription revenue recognition, which was reflected in our revenue guidance," he added. "This amounted to approximately $11M in Q1. We expect the impact to be in the range of $10M to $15M in each remaining quarter of this fiscal year, subsiding in Q4."
Link to Seeking Alpha News Article - Jun. 04, 2025
[Newsletter Exclusive] AI infrastructure continues to mount as Amazon announces $10B data center project
The number of large data centers operated by hyperscale providers increased to 1,136 by the end of 2024, as the total has more than doubled since 2019, according to Synergy Research Group. The research firm expects the number to keep growing by 130 to 140 each year for the foreseeable future.
Amazon, Microsoft (MSFT) and Google (GOOG)(GOOGL) are the leading cloud providers. The U.S. currently contains 54% of global data center capacity, according to Synergy data. China ranks second with 16%. Europe houses 15%.
Link to Seeking Alpha News Article - Jun. 04, 2025
Cleveland-Cliffs scraps $500M hydrogen-based Ohio steel project
Cleveland-Cliffs (NYSE:CLF) said Tuesday it has officially abandoned its $500M hydrogen-based steel project in Middletown, Ohio, due to concerns over insufficient clean hydrogen supply, shifting focus to extend the life of its coal-fired blast furnace instead.
CEO Lourenco Goncalves cited delays in hydrogen production and pending Trump administration policies as key reasons for the decision, despite earlier support from a $500M U.S. Department of Energy grant under former President Biden that would have replaced the coal-based blast furnace with a hydrogen-fueled plant.
Goncalves said that even with the grant, Cleveland-Cliffs (NYSE:CLF) would need to spend an additional $1.1B, bringing the total project cost to $1.6B, but the company is in discussions with the Trump administration to renegotiate the grant to align with new energy priorities.
"Without hydrogen, the entire thing falls apart," Goncalves said at an event hosted by the American Iron and Steel Institute. "At the very least, I will not have hydrogen at the time I need for that specific project."
Link to Seeking Alpha News Article - Jun. 04, 2025
[Newsletter Exclusive] Global energy investment to touch record $3.3 trillion in 2025, IEA says
About $2.2 trillion will be invested in clean energy technologies, which include renewables, nuclear, energy storage, which is twice the amount for fossil fuels.
Solar power is the largest beneficiary, with investments forecasted to hit $450 billion in 2025, making it the top energy technology globally in terms of capital allocation. Investment in battery storage is climbing rapidly, above $65 billion this year. Capital flows to nuclear power have grown by 50% over the past five years and are on course to reach around $75 billion in 2025.
In contrast, investment in oil and gas is expected to decline, with upstream oil investment set to fall by 6% in 2025.
Spending on electricity grids is projected to surpass $400 billion in 2025 but is still lagging the pace of growth in generation and electrification. Maintaining electricity security would require investment in grids to rise towards parity with generation spending by the early 2030s.
Link to Seeking Alpha News Article - Jun. 05, 2025
[Newsletter Exclusive] Planet Labs targets $265M-$280M revenue for fiscal 2026 while advancing satellite services and AI-enabled solutions
CEO William Spencer Marshall stated, "We're pleased to have delivered an excellent first quarter in fiscal 2026. To briefly summarize the results, we generated $66.3 million in revenue, representing approximately 10% year-over-year growth and exceeding our expectations." He highlighted a non-GAAP gross margin of 59%, adjusted EBITDA profit of $1.2 million—marking the second consecutive quarter of adjusted EBITDA profitability—and the company's first ever positive free cash flow at $8 million.
Backlog was reported at approximately $527 million, up 140% year-over-year, and remaining performance obligations at $451.9 million.
Link to Seeking Alpha News Article - Jun. 05, 2025
Silver soars to 13-year high as safe-haven investor interest extends beyond gold
Silver futures surged Thursday to their highest in more than 13 years, as investors broaden demand for the safety of precious metals beyond gold.
Front-month Comex silver (XAGUSD:CUR) for July delivery +4% to $36.03/oz, after rising to as high as $36.27, the best level since February 2012, while gold futures are little changed for the day.
Silver's power move lifts gains above 20% in the past year, although still lagging the move in gold, which has jumped 44% in the last 12 months, as the expanded tariff war bolstered its appeal as a haven and central banks maintained elevated levels of buying.
The gold-silver ratio, which reflects how many ounces of silver are needed to buy an ounce of gold, currently stands near 94, down from 105 in April, when it reached its highest level since May 2020.
Analysts say some ratio trading may be occurring following the ratio's drop that followed silver's relative underperformance vs. gold because of economic concerns, since 70% of silver usage is industrial.
Link to Seeking Alpha News Article - Jun. 05, 2025
Qualcomm completes acquisition of Autotalks after overcoming FTC roadblocks
Autotalks' V2X technologies are used to reduce collisions by enabling vehicles to communicate directly with nearby vehicles and the surrounding environment.
The financial details of the acquisition were not disclosed.
Link to Seeking Alpha News Article - Jun. 05, 2025
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Trump, China's Xi agree to visit each other over 'very good phone call'
U.S. President Donald Trump on Thursday said that he had held a "very good phone call" with China's leader Xi Jinping which "resulted in a very positive conclusion" for the two nations.
Trump said there "should no longer be any questions respecting the complexity of Rare Earth products." Trump added that he had been invited by Xi to visit China, and that he had also "reciprocated."
"The conversation was focused almost entirely on TRADE. Nothing was discussed concerning Russia/Ukraine, or Iran. We will inform the Media as to scheduling and location of the soon to be meeting," Trump added.
China's national television broadcaster CCTV said that Xi had told Trump to remove "negative" measures on China, and that the countries should "reduce misunderstandings." CCTV added that the Presidents had agreed to start a new round of talks as soon as possible.
Link to Seeking Alpha News Article - Jun. 05, 2025
Trump, Musk in public spat over spending bill; Tesla stock gets hit in the aftermath
Donald Trump and former federal employee Elon Musk have engaged in a public back-and-forth over the President's "One Big Beautiful Bill" legislation, with Trump saying that he doesn't know if he will still have a "great relationship" with the Tesla (NASDAQ:TSLA) CEO anymore.
The verbal sparring is hitting the electric vehicle (EV) maker's stock, with Tesla (NASDAQ:TSLA) shedding over $100B in market cap.
Musk on Tuesday called the bill "a disgusting abomination" and said it would "massively increase the already gigantic budget deficit."
"I'd rather have him criticize me than the bill because the bill is incredible," Trump told reporters in the Oval Office on Thursday.
"Elon's upset because we took the EV mandate, which is a lot of money for electric vehicles," he said. "Look, Elon and I had a great relationship. I don't know if we will anymore," the President added.
Musk late last month stepped down from his role as a senior adviser to Trump as head of the Department of Government Efficiency, where he spent months leading efforts to cut federal spending. Musk last year had emerged as one of Trump's strongest supporters during the President's election campaign.
"I'm very disappointed because Elon knew the inner workings of this bill better than almost anybody sitting here. Better than you people. He knew everything about it. He had no problem with it. All of a sudden, he had a problem. And he only developed a problem when he found out that we're going to have to cut the EV mandate. Because that's billions and billions of dollars," Trump said.
"He knew every aspect of this bill. He knew it better than almost anybody. And he never had a problem until right after he left," he added.
"False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!" Musk hit back on his X (formerly Twitter) service.
"Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate," the billionaire businessman said.
"Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill. In the entire history of civilization, there has never been legislation that both big and beautiful. Everyone knows this!" Musk said.
"Either you get a big and ugly bill or a slim and beautiful bill. Slim and beautiful is the way," he added.
Musk also claimed that Trump “is in the Epstein files. That is the real reason they have not been made public.”
Elon Musk also warned on Thursday that SpaceX will begin decommissioning its Dragon spacecraft “immediately” because of an overt threat by President Donald Trump to cancel government contracts with Musk’s businesses.
Link to Seeking Alpha News Article - Jun. 05, 2025
Link to Seeking Alpha News Article - Jun. 05, 2025
#Perplexity
[Newsletter Exclusive] Perplexity reports extreme growth as CEO says users 'are tired of legacy browsers': report
Perplexity's artificial intelligence-powered search engine is recording 20% month-over-month growth, with queries reaching 780M in May, said its CEO Aravind Srinivas on Thursday, according to a report by TechCrunch.
Srinivas, speaking during the Bloomberg Tech Summit, said his search engine will reach 1B queries per week if it can sustain its current growth rate, the report said. He also said internet surfers are tired of using the same old browsers, such as Google's (NASDAQ:GOOGL)(NASDAQ:GOOG) Chrome.
Perplexity is gearing up to release Comet, which is a type of agentic search engine that can complete user tasks.
Link to Seeking Alpha News Article - Jun. 05, 2025
[Newsletter Exclusive] Broadcom forecasts $5.1B AI semiconductor revenue for Q3 2025 as AI networking demand accelerates
Hock E. Tan, President and CEO, opened the call by highlighting "total revenue was a record $15 billion, up 20% year-on-year. This 20% year-on-year growth was all organic as Q2 last year was the first full quarter with VMware."
Tan indicated that "we may actually see an acceleration of XPU demand into the back half of 2026 to meet urgent demand for inference on top of the demand we have indicated from training."
Link to Seeking Alpha News Article - Jun. 05, 2025
[Newsletter Exclusive] Tesla gains as Trump and White House aides hint at possible thaw in tensions with Musk, Trump not interested
Tesla (NASDAQ:TSLA) shares gained in Friday’s trading as investors were reassured by news that White House aides had scheduled a call with CEO Elon Musk in an effort to ease tensions following a public feud with U.S. President Donald Trump.
Musk also indicated he’d move to cool tensions with Trump.
However, President Trump told ABC News on Friday morning that he wasn't interested in speaking with Elon Musk following a wild online argument between the two on Thursday evening, adding that Musk had "lost his mind."
Trump however, also told Politico “Oh it’s okay,” in a brief telephone call when asked about the very public breakup with his onetime megabacker. “It’s going very well, never done better.”
Link to Seeking Alpha News Article - Jun. 06, 2025
Link to Seeking Alpha News Article - Jun. 06, 2025
[Newsletter Exclusive] Indian central bank front-loads rate cut to boost growth amid global volatility
Indian stocks rallied on Friday after the central bank delivered a bigger-than-expected interest rate cut, as it front-loaded policy easing to support domestic growth in the "fragile and highly fluid" global backdrop.
The Reserve Bank of India lowered its policy repo rate by 50 basis points to 5.5%, the lowest level since 2022 and its third consecutive cut.
At a press conference, RBI Governor Sanjay Malhotra said "front-loading" rate cuts was needed to support economic growth, given heightened global uncertainty.
"Strong macroeconomic fundamentals and benign inflation outlook provide space for monetary policy to support growth, while remaining consistent with the goal of price stability," he said. "Today's policy action should be seen as a step towards propelling growth to a higher aspirational trajectory."
Link to Seeking Alpha News Article - Jun. 06, 2025
US-UAE multi-billion dollar AI project Stargate faces hurdles - Reuters
Stargate UAE, a 1-gigawatt compute cluster, will be built by G42 and operated by OpenAI and Oracle. The first 200-megawatt AI cluster is expected to go live in 2026. The AI campus in Abu Dhabi is supposed to eventually host 5 gigawatts worth of data centers.
However, U.S. officials have yet to decide the security conditions to export the advanced chips or how the agreement with the UAE will be enforced, leaving the deal far from resolved, the report added.
U.S. officials remain cautious about the UAE's close relationship with China.
During Trump’s first term, the UAE and other Gulf states moved ahead with deploying Chinese company Huawei Technologies 5G service despite U.S. objections, the report noted.
The U.S. administration had no clear timeline for finalizing the deal. Abu Dhabi would need to accept yet-to-be-defined U.S. curbs on the technology, but it could also ask for amendments that could delay final approval, the report noted.
The Trump administration remains committed to concluding the deal, but there is opposition among Republicans and Democrats over concerns regarding the gulf country's relationship with China, the report added.
Link to Seeking Alpha News Article - Jun. 06, 2025
SPY 0.00%↑ QQQ 0.00%↑ DIA 0.00%↑ FXI 0.00%↑
[Newsletter Exclusive] U.S. and Chinese officials set for trade talks in London on Monday
"I am pleased to announce that Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative, Ambassador Jamieson Greer, will be meeting in London on Monday, June 9, 2025, with Representatives of China, with reference to the Trade Deal. The meeting should go very well," Trump said on his Truth Social service.
The upcoming meeting in London will be the second between U.S. and Chinese officials since discussions held in Switzerland in mid-May. Those talks had yielded in a surprise temporary trade truce.
But Trump last Friday reignited trade tensions between the countries after accusing China of violating that truce.
Link to Seeking Alpha News Article - Jun. 06, 2025
YouTube:
Every Tax Loophole Used By Billionaires Explained in 9 Minutes
I found this video to be very helpful. I use some of these and anyone who is thinking about wealth should know these.
Link to Link to YouTube Clip (09:01 Mins) - May 16, 2025
Buy Now Default Later (BNPL)
I think BNPL is an under appreciated risk in the markets today. Since a lot of this lending and reporting happens outside official channels, they are not accounted for in the delinquency numbers reported. I think BNPL is a half a trillion dollar blind spot which can come back to bite as the consumer starts to weaken and tariff and geopolitical volatility rises.
Link to Link to YouTube Clip (13:00 Mins) - Jan 10, 2024
Charts & Technicals:
Broadcom in charts: FQ2 Revenue from semiconductor solutions rises by 17% Y/Y; infrastructure software jumps 25%
Link to Seeking Alpha News Article - Jun. 06, 2025
Disclosure: We own positions in some/all of the tickers mentioned in this article.
