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Top stories today:
- Elon Musk said to ask CA, DE to force OpenAI to auction off stake
- TSMCās revenue +39% YoY, beating estimates amid growing AI demand
- Employment report likely to show 165K new jobs, out at 8:30 AM ET
- Alzheimerās drug makers volatile amid hopes for obesity-like gains
- Pre-seed, seed startups make up 43% of M&A deals in U.S. in 2024
- Asiaās VC funding -26% YoY to $65.8B, 10-year low
- Trump sentencing allowed by Supreme Court by 5-4
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of the few hallucinations):
1. Elon Musk said to ask CA, DE to force OpenAIās non-profit to auction off for-profit stake
Allow outside investors to bid for the non-profitās stake in OpenAI, Musk's attorney Marc Toberoff reportedly said in a letter to the statesā attorney generals.
OpenAI said to have no plans for such an auction.
2. TSMCās revenue +39% YoY, beating estimates amid strong AI chip demand
Beating estimates by 2% (estimated NT$854.7B).
TSMC is outperforming Samsung and Intel, with its U.S. market valuation nearing $1.1T
Some investors still worry TSMCās performance could suffer from falling AI demand.
Jan. 16: TSMC is releasing its full earnings report for the Q4 2024.
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