The Rundown - Nvidia Becomes First $5 Trillion Company, OpenAI Looks Ahead Toward IPO

Episode Date: October 29, 2025

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Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zaid Admani, and today is Wednesday, October 29th. In today's episode, we'll tell you about all the major announcements from Nvidia that is pushing their stock to all-time highs. We'll also tell you when Open AI plans to IPO. Then stick around to the end of the show to find out how much it costs to buy a humanoid robot. We got a great show for you today. Let's go.

Well, the stock market hit another record high on Tuesday with the S&P 500 adding 0.2%, and the NASDAG jump 0.8%. It was kind of a weird day, though, because nearly 400 stocks in the S&P 500 were actually in the red yesterday, but since the S&P 500 is market cap weighted, larger companies like big tech stocks have a greater influence on the overall index. And yesterday is just more proof that the stock market is being carried by big tech companies, like Nvidia, which jumped 5% yesterday after some major announcements at their GTC event, which we'll cover in a bit.

Now, zooming out a bit, the next 48 hours are about to be insane because this afternoon, we have the Fed meeting. The Federal Reserve is expected to cut interest rates by 25 basis points, and we're getting a press conference from Jerome Powell at 2.30 p.m. Eastern, so we'll see what he has to say. There hasn't been a lot of drama from the Fed. Everyone just expects them to cut rates at this meeting and also at the next meeting in December. So we'll see if Jerome Powell says anything about that.

And then right after Jerome Powell's press conference, when the markets close, we are getting earnings from Microsoft, Meta, and Google. So we're going to have a lot to cover on tomorrow's show. I'm not sure how we're going to keep it under 10 minutes, but we're going to try. And then on Thursday afternoon, Apple and Amazon both report earnings after the market closed. So we'll be recapping that on Friday show. So yeah, you definitely don't want to miss any shows this week. Consider hitting that notification bell as well so you're notified as soon as an episode is posted every morning.

Let's run through some headlines, starting with Nvidia. Nvidia just wrapped up its GTC conference in Washington, D.C. And CEO Jensen Wong made some major announcements that sent the stock to record highs. I'm just going to start listing out some of the notable stuff that was announced yesterday. Invidia said that their next generation Blackwell and Ruben chips are on track to generate over $500 billion in cumulative sales through 2026. NVIDIA's AI chips are now in full production at TSM's plant in Arizona, marking a huge step in bringing semiconductor manufacturing back to U.S. soil.

On top of that, NVIDIA announced a ton of partnerships, including with Uber, where NVIDIA's chips will power a fleet of 100,000 self-driving cars with Stalantis handling the deployment. Lucid motors will use NVIDIA's tech to develop its own autonomous driving platform. The pharma giant Eli Lilly is teaming up with Nvidia to build one of the most powerful pharmaceutical supercomputers ever running on 1,000 Blackwell chips. And then Jensen said that Nvidia would be investing $1 billion into Nokia to help rebuild America's telecom infrastructure using Nvidia's hardware.

Maybe they can get Nokia to start making phones again too. There was a lot more announcements, but you know, I only got 10 minutes here. I think the bigger takeaway is that Jensen is trying to convince investors that AI is not a bubble and that there's legit demand and applications for the technology. And I think investors are buying back into the story. Invitya stock popped 5% yesterday and it's up another 5% this morning, making Nvidia the first company ever to hit a market cap of over $5 trillion. Absolutely wild stuff and it seems like the AI trade seems to be fully back on. Now sticking with the AI theme here, let's talk about OpenAI. According to a report from the Wall Street Journal, Open AI could be

gearing up for an IPO as early as 2027. Now on yesterday's show, we talked about how open AI completed its transition from being a non-profit company to a for-profit public benefit corporation. Part of that transition, Microsoft gets 27% stake in Open AI. This restructuring took months to complete with regulators in California scrutinizing the company's plans. There was other critics as well, including co-founder Elon Musk, who didn't want Open AI to become a for-profit company. Now, what I found interesting from the Wall Street Journal article was that, Open AI threatened to relocate out of state if this restructuring didn't go through, which I think that threat helped push this over the finish line.

I don't think California wanted a tech company like Open AI to relocate to Texas or somewhere else. CEO Sam Alman has promised to keep the company in California now with plans to IPO in the near future. Now, Sam Alman didn't commit to an exact timeline for the IPO, but if and when this IPO happens, I think it'll be the biggest IPO in history. In fact, there's a real chance that OpenAI is going to be valued at over a trillion dollars when they IPO in 2027 or beyond. Just wild that a company could IPO at a trillion dollar valuation. Let's talk about some stocks making moves today. Shares of Seagate are rising this morning after the company beat earnings expectations thanks to the AI boom fueling demand for data storage.

Seagate makes hard drives and with AI generating a. a ton of data, including AI photos and videos, that's driving up to demand for storage capacity. All that AI slop has to be saved somewhere, right? As a result, shares of Seagate are up more than 6% this morning. This might come out a surprise, but Seagate has been the third best performing stock in the S&P 500 this year, up more than 175% so far. Now, on the flip side, shares of FISA are on track to have their worst day ever after the payment giant reported a terrible quarter. The company cut its full year earnings outlook and announced a major leadership shakeup. Now, if you're not familiar with FISA, they're one of the biggest players in payment

tech. Their technology enables banks to issue credit and debit cards, also loan processing, digital banking services. And they also own Clover, which is one of those companies with the white iPads at coffee shops that kind of gilds you into tipping 20% on your order. The numbers in their earnings report this morning were absolutely terrible. Pfizer now expects earnings for the year to be between $8.50 and $8.60 per share, which is down from the previous forecast of over $10 a share. So that's a pretty big haircut. Their financial solutions business, which provides the underlying technology to banks, saw revenues declined by 3%, and their margins tanked by about 5 percentage points. So yeah, investors are bailing on this stock. It's down nearly 40% this morning, which is just crazy

for a company valued at $68 billion. The company is making big changes at the top. They're bringing on two co-presidents plus a new CFO and new board members as part of a broader strategy reboot. It's going to take a lot for investors to have confidence in this company again. Now, sticking with the losers here, let's talk about Caesar's entertainment. Their stock is falling after the casino operator reported a wider quarterly loss of $555 million thanks to Weaker Travel Demand in Las Vegas. Caesars operates a ton of hotels in Vegas and they said that it was a tough summer for them, especially at their lower tier properties like Planet Hollywood and the Flamingo.

Now, high-end travel did hold up better and Caesars also said that convention and group bookings are starting to rebound and they expect that trend to continue into early next year. But investors are still folding on the stock with Caesar stock down nearly 10% this morning. I think that Vegas might be cooked. Now that everyone has a little casino in their pocket, like, what's the point of going to Vegas anymore? Let's wrap the show with the fun fact. can now pre-order your own humanoid robot. There's a company called OneX Technologies and they're launching

an AI robot called Neo. It's a 5'6 human-looking robot that can do basic housework like fold your laundry and load up the dishwasher. Now, this robot will cost $20,000 with deliveries starting in 2026, but you can pre-order it today with just a $200 deposit. The company says they'll also offer the option to rent the robot for $500 a month in the near future. I watched some of the clips of Neo. It looks kind of cool, all right? But I'm just not convinced that humanoid robots are ever going to be a mainstream thing anytime soon. You know, I know that a lot of people are bullish on it.

Even Elon Musk, Tesla is working on a humanoid robot called Optimus. And I can get the appeal, but honestly, I think that robots make way more sense doing heavy-duty stuff, like working in warehouses or factories instead of, you know, awkwardly fumbling with my dishwasher. And look, maybe it's because I watched that Will Smith movie I robot a lot growing up. I'm not sure I want a giant human-sized robot with AI superintelligence in my home. I got a robot vacuum. It works pretty well. I think it's kind of all I need at this point.

But maybe I'm in the minority here. Let me know in the comment if you guys would ever buy a humanoid robot. And what's the max amount of money that you would pay for one? 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, consider giving us a five-star rating on Apple, Spotify, YouTube, wherever you listen to your podcast. And if you are listening on Spotify,

don't forget to vote in today's Spotify poll. Leave us a comment on Spotify. All that engagement really does help us out and it helps other people find the show. Thank you guys so much for listening, watching, and commenting. Shout out to Mike and Connor for all the work behind the scenes.

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