23andMe shares tank as the DNA testing company files for bankruptcy

Oracle is on track for its best week since 1999

Oracle is up nearly 27% for the week in midmorning trading Thursday, putting it on track for its best weekly gain since June of 1999.

And yes, that run-up — which has added $100 billion to Oracle’s market cap this week — beats the nuttiness of last September, when the stock exploded up 36% in a single day after Oracle disclosed its massive AI-related sales backlog. By the end of that week, the stock ended up a mere 25%.

This week, the company soared 13% on Monday after signing a power deal with fuel cell maker Bloom Energy, as the market continues to be super focused on how quickly hyperscalers can get their AI data centers built and powered up. (Finding off-grid connections to electricity is proving increasingly tricky.)

On Thursday, Oracle also announced a collaboration with Amazon Web Services that would allow customers of both companies to easily move data back and forth and run programs using data center infrastructure from either company.

Oracle, along with other large-cap AI beneficiaries and the rest of the market, has also been getting a lift from a period of relative calm in the Iran war, with stocks hitting new record highs and US crude oil prices declining by more than 10% this month.

Matt Phillips3h

Oklo pacing for big week, helped by risk-on appetite and Trump policy directive

Retail favorite Oklo, the “pre-revenue” designer of smaller experimental modular nuclear reactors with close ties to the Trump administration, is on track for its best week since January, even after slumping early Thursday.

Before Thursday’s slight decline, Oklo had posted big gains for four straight days, rising 33% in that time frame. Another stock in the category, Nuscale, rose 27% in the same span.

Oklo shares may have benefited from a directive published Tuesday by the White House Office of Science and Technology Policy directing federal agencies to “establish cost-effective partnerships with private-sector innovators to meet near-term objectives that include safely deploying nuclear reactors in orbit as early as 2028 and on the Moon as early as 2030.”

Oklo’s close ties to the US government could put it in a position to benefit from such orders. US Secretary of Energy Chris Wright formerly served on Oklo’s board of directors.

Separately, Oklo announced new members of its board of directors Tuesday, adding David Christian, a former executive from Dominion Energy, and David Park, CEO of Standard Lithium, among others.

Whether these announcements ultimately translate into a financial gain for Oklo remains to be seen. But it likely won’t be seen for a while.

The company doesn’t expect to generate any meaningful revenue until it brings its Aurora line of modular reactors, none of which have been built yet, to market. (The company has announced approvals of some design plans related to a prototype it’s building at the Idaho National Laboratory.)

On the other hand, Oklo does have some money to burn, reporting cash and marketable securities worth some ~$1.4 billion at the end of 2025. And with the share price spiking this week, Oklo executives might also be tempted to offer more stock as a source of funding.

Oklo’s upswing comes amid a rebound in retail trading this week that’s sending stocks and crypto beloved by individual traders — such as IonQ, D-Wave Quantum, Hims & Hers, and SoundHound AI — sharply higher, as worries about Iran ease and traders rush to buy whatever remaining “dip” there is.

Luke Kawa3h

15 months after crippling quantum computing stocks, Nvidia has sent the industry back into the stratosphere

All of the technological breakthroughs, sales deals, and acquisitions haven’t mattered much for quantum computing companies in 2026.

The speculative fever had broken, with call volumes traded and most retail darling assets having peaked in October, and the subsequent risk-off move during the Mideast war accelerated the retreat from expensive, thematic plays.

Then along came Nvidia to the rescue — the company that kneecapped the industry in Q1 2025 when CEO Jensen Huang said it would likely be a couple decades before quantum computers were “very useful.”

On Tuesday, the chip designer released a family of open models (dubbed Ising) designed to leverage AI to improve calibration and error correction for quantum computers, “two of the most critical challenges in building hybrid-quantum classical systems,” per the press release.

D-Wave Quantum, IonQ, Rigetti Computing, and Quantum Computing have surged between 23% and 42% over the past three sessions, as of 9:50 a.m. ET.

These stocks are all poised for their best weeks since September, and the return of intense call buying definitely appears to be magnifying the buying pressure:

Infleqtion, the relative newcomer on the scene, is up about 16% since Monday’s close.

True to form, Huang threw a bit of a backhanded compliment to the industry along with this lifeline.

“AI is essential to making quantum computing practical,” he said.

Max Knoblauch4h

Low-cost airlines climb amid report that Spirit Airlines could liquidate as soon as this week

Shares of low-cost US airlines Frontier and JetBlue are up more than 3% in premarket trading following a Wednesday evening report that rival Spirit Airlines could liquidate as early as this week.

Spirit, which has made efforts to emerge from its bankruptcy filed in August, has reportedly been pummeled by elevated jet fuel prices.

JetBlue reached a deal to acquire Spirit in 2022, but it was blocked in 2024 on antitrust grounds. Bloomberg reported that Frontier had been in talks to merge with Spirit in December.

Jet fuel prices have squeezed the industry since the days leading up to the war in Iran. This month, most major US carriers hiked their bag fees in an attempt to offset some of the cost.

Lower oil prices are also moderately boosting airline stocks on Thursday morning. West Texas Intermediate crude futures were down about 3% as of 8:30 a.m. ET.

Spirit Airlines at Risk of Facing Liquidation as Fuel Costs Bite

JetBlue reached a deal to acquire Spirit in 2022, but it was blocked in 2024 on antitrust grounds. Bloomberg reported that Frontier had been in talks to merge with Spirit in December.

Jet fuel prices have squeezed the industry since the days leading up to the war in Iran. This month, most major US carriers hiked their bag fees in an attempt to offset some of the cost.

Lower oil prices are also moderately boosting airline stocks on Thursday morning. West Texas Intermediate crude futures were down about 3% as of 8:30 a.m. ET.

Claire Yubin Oh & David Crowther6h

Allbirds traded more than JPMorgan and Exxon Mobil yesterday

After a surprising announcement that the tech bro shoemaker would be pivoting to AI on Wednesday, shares of Allbirds were flying high — soaring nearly 600% by the end of the day in record trading volume.

This was, for many reasons, completely insane.

Flipping the BIRD

Before the latest pop, Allbirds had a miniscule market cap of some ~$22 million. Yesterday, some $3.8 billion changed hands in BIRD — with the company’s market cap ending the session at a still small $148 million.

That means that the company turned over more than 25x its market cap in trading volume. Indeed, there were no other stocks with a market cap less than $1 billion that traded more than $1 billion yesterday — something of an outlier, to say the least.

Two of the stocks that Allbirds out-traded were none other than the world’s largest bank (JPMorgan) and America’s largest oil company (Exxon Mobil), which only turned over $3 billion and $2.3 billion, respectively. And those weren’t even particularly low-volume days for those two corporate giants — Allbirds’ insane activity was way ahead of the average of the last 120 days for each.

Sole searching

Though this was perhaps more of a meme stock story than an AI story, those two worlds are starting to overlap, as retail traders have bought up anything adjacent to AI — particularly in the last couple of weeks, as risk-on assets have ripped higher since geopolitical risks have (seemingly) abated and indexes are back to all-time highs.

Of course, we’ve seen this movie before: remember Algorhythm Holdings, a former karaoke maker turned AI trucking logistics company, which obliterated the freight industry only a few months ago? Then there was the Long Island Iced Tea Corp., which, naturally, got into the blockchain.

Allbirds’ latest pivot, with a “long-term vision to become a fully integrated GPU-as-a-Service (GPUaaS) and AI-native cloud solutions provider,” which will be funded with its new $50 million convertible financing facility, is unlikely to concern neocloud leaders like CoreWeave, which is planning to spend $30 billion in 2026.