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Claire Yubin Oh4/2/26

Globalstar surges after FT reports that Amazon is in talks to buy the satellite group

Globalstar is up 11% in premarket trading on Thursday on reports that Amazon is in talks to buy the satellite company, in a push to take on Elon Musk’s SpaceX. The two companies are currently negotiating the details of a potential deal after lengthy talks, the Financial Times reported, citing people familiar with the matter.

Amazon has ambitions to compete with SpaceX to provide satellite-based internet access anywhere on the planet — a market that’s dominated by Starlink at the moment and a key pillar of the eye-watering $1 trillion valuation that SpaceX is seeking in its IPO, which it has just confidentially filed for.

Indeed, Amazon has been signing deals with airlines and doubling down on investing in its internet constellation lately, with plans to increase its ~200 satellites in orbit to about 700 by the middle of 2026 — still a fraction compared to SpaceX’s mega constellation, which has some 10,000 active satellites.

But Amazon’s not the only Big Tech giant with an interest in Globalstar. Back in 2024, Apple invested $1.5 billion for a 20% stake in the company, necessitating a negotiation between Apple and Amazon for the latest deal talks to proceed, per the FT. SpaceX also reportedly had early talks with Globalstar, Bloomberg reported last October.

Globalstar’s stock has been up ~230% in the past year, pushing its value to some $8.8 billion as of yesterday’s close.

Amazon in talks to buy $9bn satellite group Globalstar in bid to rival Elon Musk’s Starlink

Amazon in talks to buy $9bn satellite group Globalstar in bid to rival Elon Musk’s Starlink

Amazon has ambitions to compete with SpaceX to provide satellite-based internet access anywhere on the planet — a market that’s dominated by Starlink at the moment and a key pillar of the eye-watering $1 trillion valuation that SpaceX is seeking in its IPO, which it has just confidentially filed for.

Indeed, Amazon has been signing deals with airlines and doubling down on investing in its internet constellation lately, with plans to increase its ~200 satellites in orbit to about 700 by the middle of 2026 — still a fraction compared to SpaceX’s mega constellation, which has some 10,000 active satellites.

But Amazon’s not the only Big Tech giant with an interest in Globalstar. Back in 2024, Apple invested $1.5 billion for a 20% stake in the company, necessitating a negotiation between Apple and Amazon for the latest deal talks to proceed, per the FT. SpaceX also reportedly had early talks with Globalstar, Bloomberg reported last October.

Globalstar’s stock has been up ~230% in the past year, pushing its value to some $8.8 billion as of yesterday’s close.

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Saleah Blancaflor8m

US gas prices rise again, sitting at their highest levels in four years ahead of Memorial Day weekend

Just days away from Memorial Day weekend, the national average of US gas prices rose from a week earlier and sat at the highest they've been in four years.

The price is currently $4.56 a gallon, up 3 cents over last week, and $1.38 higher than this time last year, according to AAA. Today's prices are right around what customers were paying four years ago, when the price on Memorial Day was $4.61. Gas prices experienced a short-lived dip earlier this month before rising again.

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Memorial Day Weekend Gas Prices Reach Four-Year Highs

AAA Fuel Prices

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

What Wall Street’s saying about Nvidia’s Q1 results

A makeover beautifies the growth outlook; so does the CPU opportunity.

Jensen Huang in front of Vera Rubin at CES 2026

markets

SoftBank rallies on OpenAI and SB Energy IPO plans; its Japanese-traded stock notches best day since 2000

SoftBank shares skyrocketed in Tokyo trading, notching their biggest daily gain since 2000, boosted by news about planned IPOs at OpenAI, in which SoftBank has a sizable stake, and SoftBank’s own SB Energy unit. ADRs of SoftBank traded in the US rallied, too.

OpenAI is accelerating the timeline to its public debut, preparing to confidentially file its IPO prospectus with regulators as early as Friday, according to The Wall Street Journal. That could set the stage for a highly anticipated public listing as early as September.

SoftBank has systematically expanded its financial exposure to OpenAI, securing a highly valuable stake in the company. As of the fiscal year-end, SoftBank’s cumulative investment in OpenAI totaled $34.6 billion, with a fair value of $79.6 billion, and cumulative investment gains totaled $45 billion, according to a SoftBank filing.

For SoftBank, a successful public debut is critical to demonstrating that OpenAI can protect its market position amid intense industry pressure. Investors have grown increasingly anxious that OpenAI is losing ground to competitors like Anthropic, which is currently in talks for a funding round that could push its own valuation past that of OpenAI.

Adding to the upward momentum, SB Energy, the digital infrastructure and clean energy development firm co-owned by SoftBank and Ares Management, confirmed its own confidential draft registration filing for a major US public listing.

This multipronged IPO pipeline has boosted investors’ confidence in billionaire founder Masayoshi Son’s high-conviction AI thesis, showcasing a road map for SoftBank to transition its paper gains into potential liquidity. SoftBank’s stock is up 37% so far this year.

Maybe we should all agree to not talk about Nvidia’s stock after earnings

It’s probably making people dumber.

Nvidia conference with Jensen Huang

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Max Knoblauch6h

Nio posts better-than-expected first-quarter earnings and forecasts strong Q2 sales

Chinese EV maker Nio posted Q1 results before markets opened on Thursday, reporting earnings that beat expectations and strong sales guidance for the second quarter. Shares of the company climbed more than 4% in premarket trading.

For the first quarter, Nio reported:

Adjusted earnings of $0.00 per share, compared to the $0.05 loss per share that Wall Street analysts polled by FactSet had expected.
$3.7 billion in revenue, compared to the $3.74 billion consensus estimate.
83,465 vehicle deliveries, slightly exceeding its own forecast of between 80,000 and 83,000.

For Q2, Nio guided for deliveries of between 110,000 and 115,000, compared to estimates of 113,807. The company expects second-quarter revenues to come in between $4.75 billion and $4.99 billion, while analysts are forecasting $4.6 billion.

The Chinese auto industry has seen a surge in exports so far this year, as companies make efforts to combat declining domestic sales. Nio, which is still relatively new to overseas operations, has plans to ship “several thousand” EVs overseas this year.

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