- Bull Street
- Posts
- 📈 Meet 'Grok'
📈 Meet 'Grok'
Musk released his ‘Grok’ AI to combat ChatGPT, Jack Dorsey is taking a more hands-on approach at Block again, Washington Post is projected to lose $100M this year, Tesla is raising wages for German workers, and Kai-Fu Lee's AI startup hits Unicorn status in eight months.
☕️ Good Morning.
The Fast Five →Musk released his ‘Grok’ AI to combat ChatGPT, Jack Dorsey is taking a more hands-on approach at Block again, Washington Post is projected to lose $100M this year, Tesla is raising wages for German workers, and Kai-Fu Lee's AI startup hits Unicorn status in eight months.
Here’s your 5-minute briefing for Monday:
If you like Bull Street Talk, then you will love Chipotle Money’s weekly newsletter that brings you insightful trading tips from the past week! Check it out here:
|
BEFORE THE OPEN

As of market close 11/3/2023. Bitcoin as of 11/5/2023.
MARKETS:
U.S. equity futures remain flat after a strong week.
Dow, S&P 500, and Nasdaq all had their best week of the year.
Factors like oversold conditions, positive earnings, and lower bond yields boost market sentiment.
November is historically a strong month for the S&P 500.
Earnings season continues with updates from companies like Walt Disney, Wynn, MGM Resorts, Occidental Petroleum, and D.R. Horton.
EARNINGS
What we’re watching this week:
Tuesday: Bumble (BMBL), D.R. Horton (DHI), KKR (KKR), Occidental Petroleum (OXY)
Wednesday: Arm Holdings (ARM), Walt Disney (DIS), AMC Entertainment (AMC), Twilio (TWLO)
Thursday: Tapestry (TPR)
NEWS BRIEFING

The prototype is in its first two months of training and is only available to a select group of users before a wider release. Musk is positioning xAI to compete with OpenAI, Inflection, Anthropic and others.

AI’s model outperforms Meta’s Llama 2 on certain metrics. Startup to offer open-source model; proprietary options later.
Warren Buffett’s Berkshire Hathaway sits on record $157B cash pile (Read More)
The price of money is going up, and it’s not only because of the Fed (Read More)
Pimco, JPMorgan are gearing up for long winter in China markets (Read More)
Jack Dorsey to take a more hands-on leadership approach with Block’s stock down 80% (Read More)
Washington Post appoints William Lewis as CEO; to reduce headcount by 10% as the company is projected to lose $100M this year (Read More)
China’s fight against deflation may be far from over (Read More)
Bankers seek legal cover after backing $1.5T of ESG debt (Read More)
South Korea to ban short-selling of stocks until June 2024 (Read More)
Tesla raises wages for German workers amid union pressure (Read More)
DEALFLOW
M&A / Investments
Telecom Italia’s board approved the sale of its landline network to KKR in a $23.6B deal backed by the Italian government (Read More)
Origin Energy’s top investor AustralianSuper boosted its stake in the energy company by 1.2% to 15% after rejecting an improved $12.5B takeover offer from a Brookfield Asset Management-led consortium; AusSuper declined further talks with Brookfield (Read More)
British regulators cleared Cameco and Brookfield Renewable Partners' $7.9B acquisition of nuclear power plant equipment maker Westinghouse Electric (Read More)
Saudi Arabia expressed interest in investing up to $5B for a stake in $30B Indian Premier League, international cricket’s most lucrative event (Read More)
PE firm Platinum Equity is in advanced talks to purchase Kohler’s generators division for over $3B (Read More)
Polywood, a maker of recycled plastic outdoor furniture, is exploring options including a sale that could value the PE-backed company at ~$1B (Read More)
Buyout firm The Jordan Company is in exclusive negotiations to acquire medical equipment maker Tidi Products from Roundtable Healthcare Partners for at least $900M (Read More)
Ineos CEO Jim Ratcliffe is looking to invest $300M in Manchester United's infrastructure in addition to a $1.5B+ offer to acquire a 25% stake in the football club (Read More)
Greece's biggest power utility Public Power will acquire retailer Kotsovolos from British electrical retailer Currys in a $215M deal (Read More)
Investment bank Houlihan Lokey is in talks to acquire Triago, a placement agent best known for assisting private equity firms with fundraising (Read More)
CRYPTO
The US Supreme Court agreed to hear a dispute over Coinbase's effort to move a dispute with users of the cryptocurrency exchange out of courts and into private arbitration (Read More)
BULLISH BITES
🤔 Silicon Valley billionaires say they're done buying up land for their utopian city
🚫 The workplace is becoming more political as Gen Z comes of age
😱 Dall-E 3 is so good it's stoking an artist revolt
✈️ Electric planes, once a fantasy, are beginning to take to the skies
What did you think about today's briefing? |