Nvidia Trades Compute for a Place in Europe’s AI Stack
Nvidia is spending in Europe the way a company spends when it wants to be part of the plumbing rather than a supplier standing at the edge of it. On…
Chip Stocks Slide as Bank Earnings Open the Quarter
The week began with two stories running in opposite directions on the same trading floor. Bank earnings arrived close to expectations, and memory chip shares fell hard enough to drag…
A Credit Market Calm Built on a Pause in AI Borrowing
The note Goldman Sachs sent its credit clients this month made an odd pitch for a bull case. Buy investment-grade bonds, it said, and watch the calendar. The argument rested…
Two Blank Checks Test the Appetite for SPACs
On Tuesday, two filings landed with the Securities and Exchange Commission a few hours apart, each asking the same question in a different size. Apex Treasury Corp II, a blank…
A Nigerian Fintech Takes Its Loan Book to Wall Street
The prospectus OPay filed with the Securities and Exchange Commission contains a figure that would be unremarkable in Silicon Valley and startling in Lagos: 339.1 billion dollars of gross transaction…
Most of the S&P 500 Is Already in a Bear Market
The note that circulated on trading desks this week carried an uncomfortable title: Last Man Standing. Its author, Jonathan Krinsky, the chief market technician at BTIG, was describing a market…
A Memory Rally Meets a Chinese Rival and a Shelved Float
The selling started in Tokyo. Kioxia Holdings fell 13.3% on Tuesday to close at 15,180 yen, the sharpest one-day drop yet for a stock that had nearly quadrupled over the…
Hackers Raised French Supermarket Freezers to 50 Degrees
At an Intermarche in central Paris, staff spent Monday morning hauling carts of defrosted frozen food to a container in the street, with melted ice cream sloshing from broken tubs…
Two Banks Arrange an AI Loan They Won’t Back
The financing package for Volta Infrastructure Holdings totals $5.01 billion. JPMorgan Chase and Goldman Sachs assembled it, and between them they are willing to guarantee $1.3 billion of that amount.…
A Rare Miss at JPMorgan, and a Colder Quarter Behind It
JPMorgan Chase had not missed a quarterly revenue forecast since late 2023. On Tuesday the streak ended, and the number that broke it was not the one most investors were…
