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Top stories today:
- SoftBank stock +3% as it seeks $100B to compete with NVIDIA
- OpenAI allows employees to sell shares at $86B
- Vision Pro: demo-to-purchase rate 10-15%, return rate āpretty lowā
- China cuts 5-year loan prime rate by 25 bps to 3.95%
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.
1. SoftBank stock +3% after report it seeks $100B to compete with NVIDIA on AI chips
Stock +3% on Mon. in Japan, and flat on Tue.
SoftBank would provide $30B, and raise the remaining $70B, possibly from the Middle East.
SoftBank could sell part of its ~$120B stake in Arm, which is now worth more than SoftBank itself:
SoftBank may have problems cashing out its position, due to Armās small public float and SoftBank's 90% position.
Arm now trades at 40 P/S, much ahead of NVIDIA and AMD
2. OpenAI allows employees to sell shares at $86B, as it seeks to raise at $100B+
Read more: Bloomberg.
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4. Vision Pro: demo-to-purchase rate 10-15%, return rate āpretty lowā
