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0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. Israel: war takes shekel -2% to 7-year low of 3.95, but failed to spook global markets
S&P500 was +0.6% on Monday.
WTI oil jumped from $83 to $87 on Saturday, stabilizing now at $86.
~10% of workers at some tech companies went to war. - The Information
NVIDIA canceled its AI Summit in Tel Aviv, scheduled for Oct. 15 and 16, expecting 2,500 attendees. - CNBC
Israel is preparing a ground invasion of Gaza, after Hamasās surprise attack left 900+ dead and 150 hostages
Death toll: 900+ Israelis, 687+ Palestinians. 150 Israeli hostages. - Bloomberg, WSJ, AP, CNN, Mario Nafwal on X
Israeli aid could be linked to Ukrainian aid, the White House and lawmakers plan. - NBC
11 U.S. citizens dead, others likely abducted, raising the odds of broader war. - AP
4 Russians missing, many other foreign nationals too. - Meduza
Iran provided support, U.S. officials say, but there is no proof yet that Iran directly authorized or coordinated the attack. - WaPo
UAE warned Syria not to get involved. - Axios
Israel was surprised as it did not expect Hamas to want war, but rather the economic incentives Israel was giving them. - Reuters
China condemned ācivilian casualtiesā after pressure from Schumer, but refused to explicitly criticize Hamas. - The Hill
Volatile prediction markets now estimate a 25% chance of other nations getting involved in the war
2. Lambda Labs close to raising $300M at $1.2M pre
5x its expected 2023 revenue of $250M.
2024 revenue is expected at $600M.
Lambda is a cloud for GPUs, mostly used for AI.
Competitor Coreweave is raising at 14x sales ($7B, vs. $500M).
Round led by billionaire Thomas Tull.
NVIDIA not participating, unclear why not. - The Information
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