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Luke Kawa7/7/25

CoreWeave sinks after announcing $9 billion deal to buy Core Scientific

Shares of recently IPO’d retail darling CoreWeave are slumping in premarket trading after the company announced plans to buy crypto miner (and business partner) Core Scientific in an all-stock deal worth about $9 billion at current prices.

CoreWeave will issue stock to pull off the transaction, which values Core Scientific at about $20.40 per share based on current prices. However, per the press release, “The final value will be determined at the time of transaction close,” which is expected to be in the fourth quarter.

CoreWeave’s stock is selling off, and Core Scientific shares are moving further away from that $20.40 level. That implies some skepticism from traders that the AI darling will maintain its eye-watering valuation after the IPO lockup, which has kept many of its shares outstanding effectively frozen, expires.

The Wall Street Journal reported that this transaction was in the offing in late June.

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Broadcom soars on Google’s plans for up to $185 billion in capex this year

Google’s capex guidance is Broadcom’s earnings guidance.

The hyperscaler and search giant said its 2026 capex budget would be between $175 billion and $185 billion, 55% higher than Wall Street had anticipated.

Accordingly, shares of the custom chip specialist are soaring in after-hours trading.

Broadcom has enjoyed a halo effect from Google’s capex plans and the success of its Gemini 3 model (trained on TPUs the two companies codesigned) over the past year.

But the custom chip designer had tumbled after its most recent earnings report, with some analysts attributing the decline to the dearth of new customer announcements. But who needs new customers when your current ones are opening their wallets this much?!?

Alphabet beat earnings and revenue expectations

Alphabet beat earnings and revenue expectations

Accordingly, shares of the custom chip specialist are soaring in after-hours trading.

Broadcom has enjoyed a halo effect from Google’s capex plans and the success of its Gemini 3 model (trained on TPUs the two companies codesigned) over the past year.

But the custom chip designer had tumbled after its most recent earnings report, with some analysts attributing the decline to the dearth of new customer announcements. But who needs new customers when your current ones are opening their wallets this much?!?

Qualcomm tumbles after releasing gloomy Q2 guidance thanks to memory chip supply crunch

Q1 results beat expectations, but the memory chip crunch looks to be weighing on the forward outlook.

A crowd of visitors at the Qualcomm ( Qualcomm is an...

Tasha Matsumoto

Stocks continue to slide amid tech sell-off

Investors were once again in risk-off mode as tech and crypto continued to fall.

Chicago Bears fans react during the second half of a game against the Arizona Cardinals at State Farm Stadium on November 03, 2024 in Glendale, Arizona.

(J. Edward Moreno/Sherwood News)

Novo and Lilly agree prices are falling — and disagree on what comes next

Novo Nordisk and Eli Lilly are cutting prices to reach more patients — with sharply different expectations about what that means for sales.

J. Edward Moreno7h

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J. Edward Moreno7h

Ozempic is no longer the most searched for GLP-1 in the US

Ozempic, the popular diabetes drug made by Novo Nordisk, used to be shorthand for an entire class of diabetes and weight-loss medications. Not anymore.

According to Google Trends data, as of January, more people in the US are searching for Eli Lilly’s weight-loss shot, Zepbound, than Ozempic. At the same time, interest in the word “Ozempic” now sits roughly on par with searches for “peptides,” a catchall term for a booming, loosely regulated category of experimental supplements.

The numbers hint at a cultural shift: Ozempic is no longer the only word people reach for when they think about weight-loss drugs. The market — and the vocabulary around it — is fragmenting.

This shift also reflected in sales numbers. For several quarters now, Lilly’s diabetes and weight-loss drugs have outsold Novo’s, and that gap is expected to widen this year.

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