MARKET RECAP → Stocks clawed back some of their recent gains as Trump’s China stance softens.

⚙️ OPENAI’S CHIP CHECKMATE → OpenAI partnered with Broadcom (AVGO) to co-design custom AI chips alongside AMD (AMD), expanding beyond Nvidia (NVDA) and signaling a new phase in the AI hardware arms race.

💸 ORACLE’S $60B FLEX → Oracle (ORCL) CEO Greg Magoyurk said OpenAI can easily afford its $60B annual cloud tab, highlighting AI’s lucrative cloud demand and Oracle’s growing dominance in the sector.

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⚙️ Broadcom deal confirmed. OpenAI announced a new partnership with Broadcom (AVGO) to design and produce custom AI chips, diversifying away from full reliance on Nvidia (NVDA) and complementing its existing work with AMD (AMD).

💾 Vertical integration push. The move follows OpenAI’s plan to develop its own silicon—code-named “Project Tigris”—to secure supply and reduce costs amid skyrocketing GPU demand. Broadcom will handle both design and manufacturing logistics.

🚀 Chip stocks surge. Shares of Broadcom and AMD rose in early trading, while Nvidia slipped slightly on fears of reduced exclusivity. Analysts say the collaboration could reshape the AI hardware race and pressure margins across the ecosystem.

💸 Big bill, no problem. Oracle (ORCL) CEO Greg Magoyurk brushed off concerns about OpenAI’s rumored $60 billion annual cloud commitment, saying “of course they can pay it,” underscoring Oracle’s confidence in its top AI client’s scale and cash flow.

☁️ AI fuels the cloud. The remarks come as Oracle’s cloud revenue surges on AI partnerships with OpenAI and Nvidia (NVDA), positioning it as a key infrastructure supplier in the next phase of AI compute expansion.

📈 Wall Street takes note. Oracle shares ticked higher after the comments, as investors viewed the statement as validation of both OpenAI’s financial strength and Oracle’s foothold in the AI infrastructure boom.

Amazon to hire 250,000 workers during holiday season for third straight year(CNBC)

An options trade to protect against persistent macro uncertainty(CNBC)

Jefferies trims Apple price target, sees ‘more downside than upside’ ahead for iPhone maker (CNBC)

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