Instacart today raised the price range for its upcoming IPO after Arm’s successful debut yesterday, boosting the valuation to around $10 billion dollars. But that might be little comfort to the investors who bought in at Instacart’s peak valuation of $39 billion two years ago. We break down the winners and losers of the debut, including the VCs who got in early and the big institutional investors that are getting put under the water. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com ...
Sep 15, 2023•8 min
Softbank-backed chip designer Arm's successful listing today could open the IPO floodgates, according to Lux Capital’s Shahin Farshchi. He says the offering could generate more interest in new chip players, drive capital into private semi names, and encourage private companies to consider public market financing. The IPO might also be a much-needed win Masayoshi Son. Even though the Softbank founder has hung his entire legacy on being central to the AI shift, he’s had a number of big misses, inc...
Sep 14, 2023•7 min
The DOJ's landmark tech monopoly trial against Alphabet kicked off today – with the government grilling its first witness Google Chief Economist Hal Varian about his advice to the company on antitrust issues. It’s reminiscent of the DOJ’s big tech trial of 20 years ago against Microsoft, when Bill Gates was the big personality. This time around though, all eyes are on Alphabet CEO Sundar Pichai -- and though he's often been called "soft-spoken" and a "nice guy," his track record so far suggests ...
Sep 12, 2023•8 min
Instacart's new valuation of up to $9.3 billion is a massive down round from the $39 billion of a few years ago. Bill Gurley, a VC and early Uber investor, says that’s a healthy reset: "I've lived through 3 different bubbles and bursts in this industry and unfortunately it's highly cyclical. It tends to go up slowly and crash immediately." He also talked startups in the IPO pipeline, whether there’s an AI bubble, and more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for informa...
Sep 11, 2023•9 min
We all lived through the SPAC boom of 2021 – when the blank check mergers accounted for 61% of all U.S. public listings that year… and the subsequent bust, with at least a dozen going bankrupt since then and more than a hundred now running low on cash. But even though many stopped paying attention to them, SPACs continued to live on. Now, two years later, there are signs of a resurgence, and some investors are seeing new opportunities. This week on Tech Check, zombie SPACs – back from the dead. ...
Sep 11, 2023•10 min
Calculating who is set to lose the most in the showdown between Disney and Charter is complex. Disney could lose contract fees for Charter’s 15 million subscribers, but the dispute is also driving a huge jump in Hulu + Live TV subs. Disney owns 67% of Hulu, but will also soon renegotiate ownership with Comcast. Plus, AI is increasingly playing a role in sports, most recently in this year’s U.S. Open. The USTA has been using IBM’s Watson AI to provide commentary, working to translate it into ever...
Sep 08, 2023•8 min
China is an ever-present risk for Apple, but this week it's front and center on reports that China, which makes up 19% of Apple's revenue, is restricting the use of iPhones at government agencies, and the resurgence of Huawei - its new Mate 60 Pro smartphone is seen as the first significant threat to Apple's dominance in the market in years. Widely-followed hedge fund manager Dan Niles joins to discuss those headwinds and why Apple is now his largest single-stock short. Hosted by Simplecast, an ...
Sep 07, 2023•9 min
A new report today forecasts a 5% increase in U.S. ad revenue this year, but says the TV ad sector is experiencing an "existential crisis" amid an ongoing showdown between Charter and Disney that's caused sports programming blackouts for millions just as the NFL season kicks off. Plus, a top Apple analyst breaks down why shares are down today, citing two big decisions against the company - the EU naming Apple, among others, a gatekeeper under its Digital Markets Act, and Chinese officials told t...
Sep 06, 2023•9 min
The tech moguls and investors at this year's Burning Man also had to endure torrential downpours that caused campsite flooding and foot-deep mud. But one venture capitalist said that after getting over the mini panic attack of being stuck, most people embraced it. Plus, Disney has been butting heads with cable giant Charter over contract fees that has left millions without access to U.S. Open, college football and potentially Monday Night Football programming. Will this time show that Disney mig...
Sep 05, 2023•6 min
SPACs are back and volatile as ever. But the class of 2021 has settled somewhat, and that's where some investors are seeing opportunity. Proem Asset Management CIO Imran Khan, who also led Alibaba and Snap’s IPOs, says he's picked up shares in the banking app Dave, OpenDoor, and super app Grab because of what he calls arbitrage between private and public market valuations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data ...
Aug 31, 2023•9 min
After all that activist pressure, Marc Benioff’s M&A spending spree may seem like it’s ended – but in the past year, Salesforce has only been ramping up investments in AI startups. It’s funded at least seven, including leading a $200 million funding round for startup Hugging Face. Tonight’s numbers are set to show investors whether Benioff has more room to run, or will instead bring back more scrutiny. Plus, ETFs are closing at a record pace as niche funds targeting fads like crpyto, the met...
Aug 30, 2023•10 min
Nvidia’s stock rise this year has been nothing short of meteoric. The chipmaker is at the heart of the AI boom as the supplier of chips that are required to build and run the likes of ChatGPT and other generative AI technologies. On this week of TechCheck Weekly, Deirdre Bosa digs into how Nvidia dominates this technological sea change and who is trying to challenge the chipmaker’s rule. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of...
Aug 29, 2023•8 min
Nvidia’s blowout earnings is flexing its dominance in AI. Revenue at its data center segment, which includes AI chips like the A100 and H100, jumped 141% just from the last quarter. But are the cracks in that already beginning to show? Competition is beginning to emerge – on a software level from startups working on tools to reduce the cost of training and running machine learning models, and on the hardware front – from chipmakers and cloud service providers starting to produce their own AI chi...
Aug 24, 2023•6 min
Can Nvidia do it again? Its blowout last quarter fueled a 220% rally this year and sent the market into an AI craze. Amid sky-high expectations, it might be the most crucial print of the season. The chipmaker has been the biggest contributor to the Nasdaq 100’s rally this year, and the options market is now bracing for a 10% move. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising....
Aug 23, 2023•5 min
Softbank-owned Arm reported declining revenues and narrowing profits in its IPO filing last night, bringing into question whether Softbank founder and CEO Masayoshi Son will be able to pull off what’s expected to be the biggest U.S. debut this year. Son has said he wants Softbank to lead the AI revolution, with Arm as its biggest driver. But just how central is the chip designer to the revolution anyway? Its own filing said that its processors may not be suitable for AI purposes, and its biggest...
Aug 22, 2023•7 min
Softbank’s chip designer Arm is expected to file its F-1 for IPO today, revealing key finances and operations. But whether investors will buy its $64 billion pre-IPO valuation hinges on the filing showing that chip designer is truly at the center of the AI boom, as Softbank founder Masa Son claims, and not actually more like AI-adjacent. The listing would be the biggest in the U.S. in almost two years, and could jump start the IPO market. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz...
Aug 21, 2023•7 min
Instacart is reportedly planning to go public in September, and though public markets haven't been kind to gig economy companies, Instacart may be different. It has already achieved GAAP net income on its ad business, and is building up a leadership team of advertising heavyweights. Plus, Softbank’s chip designer Arm could also file its prospectus next week, in what would be 2023’s largest IPO and another big boost for U.S. listings. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com ...
Aug 18, 2023•8 min
The Information's Jessica Lessin calls it the Musk Distraction Machine - cage matches and incessant memes that are designed to distract us from focusing on what's really happening at his businesses of X, Tesla, and SpaceX - and she says, don't fall for it. Plus, Microsoft is struggling hard against Google in the search engine wars, with Bing just barely gaining market share since the beginning of the year. Deepwater’s Gene Munster thinks Google will be the clear winner in the AI race, especially...
Aug 17, 2023•12 min
Intel is scrapping a $5.4 billion deal for the Israeli chipmaker Tower Semiconductor after failing to get regulatory approval from China, where it derives more than 25% of its revenues. The deal falling through represents a big roadblock for CEO Pat Gelsinger's plans to enter the faster-growing foundry business, which would allow it to manufacture semiconductors for other companies. But one analyst writes, that might not even matter, since no one owns the stock for the foundry business. It’s als...
Aug 16, 2023•7 min
Fund managers who leaned into the tech rally and AI hype cycle saw big payoffs, according to this quarter's 13-Fs. Tech-focused funds saw 15% gains year-to-date, about three times that of the average hedge fund. The group also added to top AI plays, including 16 million shares of Nvidia and 12 million shares of Microsoft. We also take a look at which fund managers went against the grain with some under-the-radar trades. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for informatio...
Aug 15, 2023•6 min
Shares of Opendoor plunging 30% since the company reported a steep revenue decline despite managing to turn a profit. Deirdre Bosa speaks with CEO Carrie Wheeler in her first broadcast interview since assuming the position about the quarter, the state of the iBuying business model in today’s market, and more. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising....
Aug 11, 2023•18 min
Disney posting mixed Q3 results, as CEO Bob Iger laid out a plan to make streaming a key growth driver, including a new focus on its ad-supported tier and announcing price hikes on ad-free versions of Disney+ and Hulu. Plus, newly-appointed CEO of “X” Linda Yaccarino claimed today that the company is soon to be cash flow positive, creating a safe brand, seeing advertisers return and – perhaps the point of giving an interview 8 weeks after becoming CEO – that she’s a stable, steady hand with full...
Aug 10, 2023•10 min
Duolingo is one of the biggest earnings movers of the day after reporting a 62% year-over-year growth in daily active users. Its CEO Luis von Ahn joined to discuss what’s driving the price action, innovations in education technology, and the company’s expansion plans. Plus, Disney is set to report third quarter results after the bell. Investors are keeping an eye on its streaming division, growth in parks, and clues about a bombshell sports betting deal announced yesterday. In a big move for ESP...
Aug 09, 2023•8 min
: Shares of Paramount are lower today despite topping revenue expectations in its Q2 results. The beat raises the bar for Disney, which reports after the bell today amid a host of industry-wide challenges, including an ad contraction, pressure to cut streaming costs and a strike. And then there are the company-specific issues that Disney faces, including the performance of its franchise films, attendance issues at parks, and more. Plus, the $53 billion CHIPS Act aimed to jump-start the productio...
Aug 08, 2023•7 min
Artificial intelligence is now disrupting one of the biggest headaches in healthcare – paperwork. Medical notes take doctors and nurses hours every day, and cut into time with patients. The National Bureau of Economic Research estimates that using AI for administrative tasks could save the U.S. health system $200 billion to $300 billion a year. Plus, Eric Hippeau, one of the leading venture capital investors in the healthcare industry, says there's a huge use case for AI, including opening acces...
Aug 07, 2023•9 min
Shares of Amazon are rocketing today, on pace for its best day since November after reporting a blowout second quarter and issuing upbeat guidance. It beat on the top line and notched its biggest bottom line beat since 2020, boosted by CEO Andy Jassy’s aggressive cost-cutting efforts. Shares of Opendoor though, headed the other direction – plummeting more than 20% on a steep revenue decline despite managing to turn a profit. We asked CEO Carrie Wheeler in her first broadcast interview since assu...
Aug 04, 2023•8 min
Amazon reports after the bell - and investors' eyes are on the cloud. Over the last 6 quarters, growth in its cloud business AWS has slowed significantly, to an expected 10% in tonight's report, and investors are anxious to know whether the slowdown has bottomed... or could head even lower. Another data point to keep an eye on – capex. Big tech companies that have already reported including Microsoft, Alphabet and Meta have all mentioned that big investments in AI have pushed up spending. Invest...
Aug 03, 2023•7 min
Softbank-backed Arm is reportedly targeting a $60B-$70B September IPO - one of the biggest in tech history. The company licenses out chip designing to tech giants including Apple, Amazon, Microsoft, Nvidia, and Intel. Softbank founder Masa Son couldn't have timed it better as the need for computing power and AI chips booms. But there are still risks, including a slowdown in smartphone sales, and faces competition from an open source chip design architecture firm called RISC-V. Hosted by Simpleca...
Aug 02, 2023•7 min
Uber just reported its first-ever profitable quarter - but just how sustainable is it? GAAP net income was $394 million, but nearly all of that was due to a pre-tax benefit related to unrealized gains on Uber's equity investments. It holds stakes in self-driving tech companies Aurora, electric scooter startup Lime, ridesharing companies DiDi and Grab, and electric aircraft company Jovy. Its advertising business though is seeing new growth. It launched video ads on Uber, Uber Eats, Drizly and in-...
Aug 01, 2023•6 min
The funding and valuation environment for startups remains challenged, but Tiger Global has notched one big, multi-billion dollar exit recently. After a rough 2022, Tiger told investors today it net a total of $3.5 billion from selling its remaining stake in Indian e-commerce startup Flipkart; a much-needed win for Tiger. Plus, Morgan Stanley analyst Keith Weiss has two big calls out today – upgrading Adobe to overweight on its roadmap to AI monetization, and downgrading Salesforce to equal weig...
Jul 31, 2023•8 min
