Category

Markets & Money

Stock moves, M&A, macro for tech.

Markets & Money is the tech-flavored read on what's happening in public and private markets. Stock moves that signal something real, M&A deals where the strategic logic is worth unpacking, IPO and direct-listing calendars, secondary markets, and the macro inputs (rates, credit, dollar) that quietly set the tone for everything else.

This is not a trading desk. We don't issue price targets. We do tell you when a multiple compression in one corner of software is about to ripple into hiring, M&A pace, and startup valuations a quarter later. We track the bridge between what public markets are pricing and what private operators should be planning for.

Sam Whitaker covers Big Tech and the public side. Jordan Beck covers the private-market crossover. Hank Reed handles the columns when the macro story needs more than a brief.

Daily Roundup, May 29: The AI Money Kept Circling

Anthropic's record raise, Snowflake's best day ever, and a trillion-dollar Micron. The thread is capital, and a lot of it is moving in a circle.

Sam Whitaker

Circular Reasoning: The AI Boom Is Starting to Fund Itself

Memory makers are now equity investors in the AI lab that buys their chips. Hank Reed on why circular financing is the oldest tell in the bubble playbook.

Hank Reed

Nvidia Reported Record Everything. The Stock Fell Anyway. That Tells You Something.

Nvidia posted record $81.6B revenue, record Data Center, $80B buyback, dividend bump. The stock fell after hours. The print is great; the market reaction is worth paying attention to.

Hank Reed

Nvidia Hit $81.6 Billion in Q1 Revenue. The Stock Slid Anyway.

Nvidia reported record Q1 revenue of $81.6B, Data Center $75.2B. Beat on every line. The stock fell after hours. The market needed a trajectory surprise and did not get one.

Sam Whitaker

Three Headlines in One Week That Tell You the AI Build-Out Just Hit a Cycle Marker

Nvidia beat earnings handily. Meta laid off 8,000. Samsung went on strike. Three headlines, one story: the AI cycle is rewiring real labor and real supply chains, fast.

Hank Reed

Nvidia Beat Q1: $81.6B Revenue, $91B Q2 Guide. Blackwell 300 Carried the Print.

Nvidia reported $81.6B revenue (+85% YoY) and $1.87 EPS, both beats. Q2 guidance: $91B at the midpoint. Data Center hit $75.25B, up 92% YoY.

Sam Whitaker

Tech Sold Off Again Monday. The 10-Year Hit Its Highest in a Year.

Nasdaq and S&P 500 dropped to start the week as 10-year Treasury yields reached a one-year high. The AI rally is on the defensive ahead of Nvidia earnings Wednesday.

Sam Whitaker

A 25% Government Revenue Cut on Nvidia Chip Sales Is Something New

The 25% Treasury take on Nvidia H200 China sales is the kind of commercial-industrial blending the US used to criticize other countries for. The structure deserves more attention than it is getting.

Hank Reed

Nvidia Reports Q1 Tuesday. Consensus Is $78.8B on Revenue. Blackwell Is Already 70% of Data Center.

Nvidia FY27 Q1 earnings hit May 20. Wall Street expects $78.8B in revenue, $1.77 EPS. Blackwell is the print to watch.

Sam Whitaker

Friday's Tech Sell-Off Was the Yields Story Catching Up to the AI Rally

Nasdaq down 1.3%, S&P 500 down 1%, semiconductors leading the drop as 10-year Treasury yields ticked past 4.4% on the hotter April CPI.

Sam Whitaker

Qualcomm Fell 11% as the AI Chip Trade Took Its First Real Hit

Qualcomm dropped 11% Tuesday, Intel 7%, Skyworks 5%, Marvell 4%. The semiconductor ETF lost 3%. What the rotation actually means.

Sam Whitaker

Anthropic's Annual Revenue Just Passed OpenAI's

Anthropic's $30B ARR just passed OpenAI's $24B for the first time. The trajectory matters more than the cross.

Sam Whitaker