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Nvidia Raises $25B in Bond Sale, SpaceX Leapfrogs Amazon in Market Cap

The Rundown

# Full Transcript

**Podcast:** The Rundown

## Participants

- **Zaid Admani** (Public.com)

## Transcript

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Tuesday, June 16th. In today's episode, we'll explain why Nvidia is borrowing $25 billion. We'll also get into why SpaceX is buying the AI coding company Cursor for $60 billion. Then stick around to the end of the show to find out the surprisingly small economic impact of the World Cup.

We got a great show for you today. Let's go. The market was off to a hot start on Monday. The S&P 500 jumped 1.7% while the Nasdaq surged 3.1% as investors celebrated the U.S.-Iran peace deal and the expected reopening of the Strait of Hormuz. But you know, what caught my attention was that this wasn't a broad-based rally.

In fact, nearly half the stocks in the S&P 500 were in the red on Monday. This rally was mostly carried by tech and AI stocks. The tech sector was the best-performing sector and the SOX semiconductor index jumped over 5%. But then on the flip side, the energy sector was the worst-performing, down over 3% because oil prices fell on the hopes that Hormuz will reopen and the global energy shipment can go back to normal soon.

So yesterday's rally was investors rotating out of the war trade and jumping right back into the risk-on tech and AI trade, which had been beaten up over the last couple of weeks. And now the market attention will turn over to the Fed. The Fed meeting kicks off today, and one of the concerns hanging over the market has been the war-driven inflation and surge in energy prices would force the Fed to raise interest rates at some point this year. In fact, the market is still concerned about that. According to the CME Fed Watch tool,

the odds of a rate hike this year are still above 50% despite oil prices starting to fall. So hopefully we'll get some more information this week on what the Fed is thinking. The Fed meeting wraps up tomorrow. Now, the market isn't expecting the Fed to change interest rates at this meeting, but investors will be paying close attention to what new Fed chair Kevin Warsh has to say in his press conference, and he might not say a lot. The Wall Street Journal had a report this week saying that Kevin Warsh thinks the Fed talks too much.

Kevin Warsh wants fewer speeches from Fed officials, fewer mixed signals, and maybe even less emphasis on the dot plot. So moving forward, we could see a lot less info come out of the Fed, and I don't know if the markets will like that. We're going to be staying on top of that, so make sure you guys are subscribed to the podcast and tuning in every day to stay in the loop. Let's run through some headlines. Starting with NVIDIA.

NVIDIA just raised $25 billion by selling bonds, and they joined the other big tech companies borrowing a ton of money right now. Now, here's a quick explainer on how this works. When a company does a bond sale like NVIDIA just did, ...

Nvidia Raises $25B in Bond Sale, SpaceX Leapfrogs Amazon in Market Cap

Transcript

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Nvidia Raises $25B in Bond Sale, SpaceX Leapfrogs Amazon in Market Cap

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.