The Rundown - AMD Lands $100B AI Deal With Meta, Home Depot Signals Frozen Housing Market

Episode Date: February 24, 2026

Market update for Tuesday February 24, 2026Check out the Public app for incredible investing tools and to support the show (LINK)Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.In today’s episode:A viral AI “doomsday” report spooks investorsMeta strikes a massive $100B+ AI chip deal with AMDHome Depot beats earnings but warns housing demand remains “frozen”BWX Technologies surges as nuclear momentum buildsHims & Hers drops on weak guidance and weight-loss drug lawsuitUber acquires SpotHero, expanding deeper into the transportation ecosystem

Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zadadmani, and today is Tuesday, February 24th. In today's episode, we'll break down why a viral substack post sent markets tumbling yesterday. We'll also tell you about the massive $100 billion deal between meta and AMD. Then stick around to the end of the show to find out why Uber is getting into the parking business. We got a great show for you today. Let's go.

Monday was an ugly day for the markets. The S&P 500 and NASDAQ both lost over 1%. And once again, tech and software stocks took the brunt of the sell-off with the software ETF IGV dropping 5% yesterday. There is AI disruption fears all over the timeline right now. In fact, over the weekend, a 7,000 word substack post from Cincinnati. the trini went viral, laying out a full-blown doomsday scenario for what AI could do to the economy. I read the article and it talked about mass white-collar job losses and a stock market collapse

by 2008. You know, it was a very well-written article. And while I don't agree with the predictions, clearly it was enough to spook the broader market. But if that wasn't enough, Anthropic decided to play a role in the sell-off, they dropped some new features that took down cybersecurity stocks yesterday and also IBM. IBM stock fell 13%, which was its worst day since the year 2000, after Anthropics said that Claude can now help companies modernize Cobol, which is a legacy programming language that basically keeps IBM's consulting business alive. So yeah, we're at the point where we got AI Dumer essays going viral every week and Anthropic casually wiping out billions of dollars in market cap. If someone from

Anthropic is listening, please just take a break from releasing new features, go on vacation or something because my portfolio is getting wrecked right now. And don't even get me. started on crypto, Bitcoin just continues to slide. It's now trading under $63,000. Looking ahead, NVIDIA is reporting earnings on Wednesday, but you know, at this point, I'm not even sure if blowout earnings from NVIDIA is going to be enough to turn the market around. We'll see how things check out. We're going to be breaking things down daily, 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 meta and AMD. Meta and AMD.

The AMD just announced a chip deal that could be worth more than $100 billion. Meta plans to buy six gigawatts worth of AMD's AI chips over the next five years. AMB says that each gigawatt represents tens of billions of dollars in revenue. So again, this is a massive deal. The chip that Meta is going to be buying are AMD's latest AI processors called the MI450 series. These are custom design chips built specifically for meta's needs and a competitor to Nvidia's AI chips. Now, what's crazy is that meta just signed a huge deal with Nvidia last week, but Zuck doesn't want to be just tied down to Nvidia. He's trying to get his hands on any and all AI chips that he can.

But here's what makes this deal unique. As part of this deal, Meta gets warrants to buy up to 160 million shares of AMD for just a penny a share. So that could give Meadow roughly a 10% stake in AMD. Now, the catch here is that shares only fully vest if AMD stock price hits $7. $600 a share. It closed at $197 yesterday. So AMB essentially has to triple from here for meta to get their full payout. But what this means is that meta is now economically tied to the success of AMD. Now, if this deal sounds familiar, AMD did something similar in a deal with Open AI last year. So AMD's strategy is to give away a stake of their company in order to lock down

these AI chip deals. Now, just like the previous deals that AMD has done, this also looks like a classic AI circular financing deal, but the market doesn't seem to care about that right now. AMB stock is up around 6% this morning at the time of this recording. In fact, it was up more than 10% at one point. So yeah, Zuck's still doing his multi-billion dollar chip deals despite all the AI doomerism happening in the markets right now. Let's shift gears and talk about Home Depot because they just did something they haven't done in a year.

Beat earnings expectations. Home Depot reported Q4 revenue of $38.2 billion. with earnings per share coming at $2.72. Both numbers topping Wall Street estimates. Now, overall sales were still down about 4% year over year, but comparable sales, which is the metric that really matters in retail, rose 0.4% in the quarter. Analysts were expecting a slight decline, so that's a nice surprise.

Now, a big reason for that is the growth in the pro business. Sales to professional contractors, roofers, and builders continue to be strong, and that's offsetting the slowdown in the do-it-yourself remodel. projects from consumers. E-commerce was also a bright spot with online sales growing double digits for the third straight quarter. But overall, though, I say the picture is still pretty sluggish. Home Depot CFO said that homeowners have basically been sitting on the sidelines for

three years now putting off big remodeling projects because of high mortgage rates and economic uncertainty. You know, the housing market has been frozen for so long, and while mortgage rates are starting to come down, it still hasn't been enough to unlock the housing market. Now, looking ahead, Home Depot expects 2026 sales to $2,000. rise in the range of 2.5 to 4.5% which is right in line with previous guidance. So it was a decent earnings report and shares of Home Depot are up about 3% this morning at the time of this recording. Let's talk about some stocks making moves today. Shares of BWX are jumping

this morning after the nuclear tech company beat on both earnings and sales estimates for the quarter. BWX builds nuclear reactors and nuclear fuel for the U.S. government. including the Navy and NASA. But the growth story right now is coming from commercial utilities. Private companies are racing to build nuclear reactors to power AI data centers. And that's been a big boost to BWX's business. They're projecting $3.75 billion in sales in 2026, which would be up 16% year over year.

So that has investors excited and the stock is up around 7% this morning at the time of this recording. Now, on the flip side, Hems and Hers is getting hit this morning after missing QQ. Q4 sales estimates and providing a weak revenue outlook for the first quarter of 2026. Q4 revenue came in at $618 million, which was up 28% year over year. That sounds decent, but it basically matched estimates. The bigger problem, though, is guidance. Hymns is forecasting Q1 revenue of $600 to $625 million, which is well below the $653 million that Wall Street was expecting.

On top of that, subscriber growth is also slowing fast. Q4 subscriber growth grew 13% to 2.5 million. To compare that to a 21% growth in Q3 and a 31% growth in Q2, there is a noticeable deceleration. And then you have the legal drama. You know, Hymns is facing a lawsuit from Novo Nordus over their so-called copycat versions of weight loss drugs, and we've covered that a lot in previous episodes. Now, the company's CEO tried to downplay the GLP1 copycat risk on the earnings call, saying that weight loss is just one treatment on a much broader platform.

but investors aren't buying that. Him stock is down around 5% this morning at the time of this recording and down nearly 70% over the last year. Let's wrap the show with the fun fact. Uber is officially getting into the parking business. The company announced that they are acquiring Spot Hero, which is a parking reservation at that lets you book spots at parking garages, airport, stadiums, and downtown areas ahead of time.

Spot Hero is pretty huge. they have over 13,000 parking locations in more than 400 cities across the U.S. and Canada. I use it pretty often here in Houston. Now, Uber plans to integrate Spot Hero directly into the Uber app, which is nice because that means one less app for me to use. But it is also kind of ironic that Uber, which has always been about getting you to not drive your own car, is getting into the parking business. On the surface, it seems like a weird move, but I think I understand their strategy.

Uber's trying to be the all-in-one transportation platform. They have rides, they have delivery, they have freight. and now they have parking. Also, I bet they'll give parking perks for people signed up to Uber 1, which is their subscription service. So it could be a good way to add more users to Uber 1

and reduce churn. So yeah, I like this move by Uber, but let me know what you guys think in the comments. Well, all right, guys, that's the rundown for today. Hope you guys enjoyed today's episode. If you did, and you have like five extra seconds,

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Thank you guys so much for listening, watching, and commenting. Shout out to Mike and Connor for all the work behind the scenes. And we'll see you guys back here tomorrow. Frozen lasagna, medium power, 15 minutes. Sounds like, Ojo time. Let's play. Feel the Fun with Play-O-Joe, the online casino with all the latest slot and live casino games. What you win is yours to keep with no wagering requirements, instant payouts, and no minimum withdraws.

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