WS #7286
No material new developments in the last 30 minutes. The dominant themes from the previous synthesis remain unchanged: Cerebras IPO, Nvidia China approvals, geopolitical tensions in the Middle East with counter-signals from US-China diplomacy, and strong equity markets. No new data points warrant updating the narrative.
Key developments
- Cerebras Systems IPO indicated to open at $325-$350, nearly double IPO price
- Nvidia receives U.S. approval to sell AI chips to 10 Chinese firms, adding $233B market cap
- Senate vote to end Iran war fails 49-50; Saudi Arabia urges Hormuz reopening
- Trump and Xi agree Strait of Hormuz must remain open; Xi offers help on Iran
- Marvell jumps 6% on custom AI chip alliance with Google
- Brookfield discloses $2B SpaceX stake ahead of IPO
- AI trade now over half of S&P 500 weight; S&P 500 and Nasdaq hit fresh records