TLDR 

MARKET RECAP → Stocks slipped Thursday as investors digested fresh tariff headlines from President Donald Trump, including new duties targeting foreign automakers.

NEW CANCER HUB GETS $50M BOOST → 🔬 Former Citi (C) CEO Sandy Weill dropped $50M to launch a cancer hub focused on immunotherapy and gut health, betting big on science where the NIH won't.

ALIBABA DROPS MULTIMODAL AI MODEL → Alibaba unveiled a versatile AI model that reads text, sees images, hears audio, and talks back—because one sense just isn’t enough anymore. 🤖

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TODAY’S TOP NEWS

CoreWeave Reduces IPO Size; Nvidia Commits as Anchor Investor

📉 CoreWeave, a cloud services provider backed by Nvidia (NVDA), plans to reduce its U.S. initial public offering (IPO) size, now aiming to raise approximately $1.5 billion by offering 37.5 million shares at $40 each, down from the initial target of $2.7 billion.

💰 Nvidia will anchor the IPO with a $250 million order, reinforcing its support for CoreWeave, in which it already holds about a 6% stake. ​

📊 The IPO's adjustment reflects cautious investor sentiment towards AI infrastructure investments and is being closely monitored as an indicator of the U.S. IPO market's recovery and enthusiasm for AI ventures.

TODAY’S TOP NEWS

New Cancer Hub Gets $50M Boost

🔬 Former Citi (C) CEO Sandy Weill launched a $50M cancer research hub in partnership with Princeton, Rockefeller, Weill Cornell, and the Ludwig Institute, focused on immunotherapy and metabolism-based treatments. The Weill Cancer Hub East aims to tackle cancer through nutrition, microbes, and cutting-edge science.

🧬 The initiative will explore how GLP-1 drugs and gut health could impact cancer treatment, diving deep into “reprogramming” the tumor microenvironment. The hub also plans to offer clinical trials, bringing research straight to patient care.

💸 Weill’s foundation has now given over $1 billion to science and health causes. He emphasized the private sector’s role in taking risks the NIH won’t, hoping this bold bet will reshape how we fight cancer from the inside out.

TODAY’S TOP NEWS

Alibaba Drops Multimodal AI Model

🔊 Alibaba launched its new Qwen2.5-Omni-7B, a lightweight open-source AI model that processes text, images, audio, and video, all while running efficiently on edge devices like smartphones.

🧠 The model aims to power cost-effective AI agents and intelligent voice apps—think real-time audio descriptions for the visually impaired—and is part of Alibaba’s broader push to make generative AI widely accessible.

💰 Backed by a $53B investment plan and partnerships with Apple (AAPL) and BMW, Alibaba is going full throttle in China’s post-DeepSeek AI arms race, positioning itself as a top player in LLM infrastructure and deployment.

KEEP READING

Ubisoft spins out new unit for Assassin’s Creed and other games, Tencent to take $1.25 billion stake (CNBC)

U.S. health department plans to slash 10,000 jobs as RFK Jr. upends agencies (CNBC)

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