TLDR

MARKET RECAP → Stocks closed lower on Friday as investors took a beat from the post-election euphoria.

AI FUNDING SURGE UNDER MUSK → Musk’s xAI raised $6B to fund 100,000 Nvidia chips, aiming to rival AI giants while aligning with Trump’s pro-AI policies. 🚀

SUPER MICRO RISKS NASDAQ DELISTING → Super Micro's stock plummeted 85% after SEC filing delays and fraud allegations, risking Nasdaq delisting and shaking investor confidence.

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MARKETS

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Notable Earnings This Week

TODAY’S TOP NEWS

AI Funding Surge Under Musk

🚀 Musk’s xAI raised $6B: Elon Musk’s AI company xAI secured funding at a $50 billion valuation, with $5 billion from Middle Eastern sovereign funds and $1 billion from other investors. The funds are earmarked for acquiring 100,000 Nvidia chips for a Memphis-based supercomputer to support Tesla’s Full Self Driving and AI projects.

🤖 Challenging AI giants: xAI, launched in 2023, aims to compete with OpenAI and Google with its chatbot, Grok, inspired by The Hitchhiker’s Guide to the Galaxy. Grok debuted with internet-connected, real-time knowledge, positioning xAI as a strong contender in the AI landscape.

🏛️ AI meets politics: As part of President-elect Trump’s tech advisory circle, Musk is influencing AI policies. Trump’s administration plans to overturn Biden’s AI executive order, promoting “free speech and human flourishing” in tech development—a pivot Musk’s xAI could benefit from.

TODAY’S TOP NEWS

Super Micro Faces Nasdaq Delisting

🖥️ Super Micro faces a Monday deadline to submit a compliance plan to Nasdaq, risking delisting over late SEC filings and the loss of its auditor. The company cited ongoing efforts to remain compliant and maintain its standing in the AI server market.

📉 Once a darling of the AI boom, Super Micro's stock plummeted 85% from its March peak after allegations of accounting fraud and export issues. This came alongside delays in financial reporting and struggles to secure Nvidia’s next-gen chips, raising supplier concerns.

⚖️ Nasdaq’s delisting process could take up to a year, but the reputational damage is immediate. While Super Micro reported slowing sales growth and missed earnings, competitors like Dell and HPE may benefit as customers seek stability.

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