The Rundown - Nvidia Invests $2B in CoreWeave, OpenAI Ramps Up Enterprise Push

Episode Date: January 26, 2026

Market update for January 26, 2026.Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.In today’s episode:Gold and silver surge as money flows into hard assetsNvidia invests another $2B into CoreWeave to accelerate AI data center expansionOpenAI ramps up efforts to win enterprise customers and take share from AnthropicUSA Rare Earth rallies after US Government takes 10% stake

Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zadadmani, and today is Monday, January 26th. In today's episode, we'll preview this upcoming week, including big time tech earnings and a Fed meeting. We'll also tell you about NVIDIA's latest investment in CoreWeave and how OpenAI is planning to win back enterprise customers. Then stick around to the end of the show to find out why you. UFC fans were very upset with Paramount Plus. We got a great show for you today.

Let's go. Stocks are coming off a volatile week. The stock market was on a roller coaster because of the Trump Greenland stuff. But after all of that, the markets did end up pretty flat for the week. The S&P was down 0.4% last week, while the NASDAQ fell just 0.1%. The real action last week, and pretty much the entire year, has been in metals. Gold crossed $5,000 for the first time ever and continues to rally today, hitting $5,100 an ounce, and silver crossed $100 an ounce last week and is up to $110 today.

So metals continued to rip as investors buy it up as a hedge against the U.S. dollar and geopolitical uncertainty. We'll see if stocks can find some momentum this week because we have a stacked week coming up. It's like the Super Bowl for investors. Over 100 companies from the S&P 500 are reporting earnings this week. including some heavy hitters like Tesla, Microsoft and Meta, which report earnings on Wednesday, and then Apple, which reports earnings on Thursday. These earnings are going to be huge because the entire stock market narrative could change based on what these big tech companies report and what they say about AI spending.

Now, on top of earnings, we also have a Fed meeting this week. Now, the markets aren't expecting a rate cut at this meeting. According to the CME Fed Watch tool, there's only a 3% chance of a rate cut. But this will likely be a very interesting meeting because of everything happening at the federal Reserve right now. Remember a couple weeks ago, Jerome Powell revealed that the Federal Reserve was under criminal investigation by the DOJ. Jerome Powell says that it's in retaliation by the current administration for the Fed not cutting interest rates more aggressively. So I'm sure Jerome Powell will get a ton of questions about this at his press conference on Wednesday. You know,

historically he's avoided answering questions about Trump, but that might change now. So between the big tech earnings and the Fed, this week could set the tone for the rest of the quarter. So if you're new here, it's a great time to get subscribed for the podcast because we're going to going to be covering a lot this week, so make sure you guys are tuning in every day to stay in the loop. Let's run through some headlines, starting with Nvidia and CoreWeave. Nvidia is investing another $2 billion into CoreWeave. Now, what CoreWeave does is they build AI data centers pack with Nvidia chips, and they sell that capacity to companies like Microsoft, Meta, and OpenAI.

People call them a NeoCloud. Now, with this additional $2 billion investment from Nvidia, CoreWeef plans to build more AI data centers and buy more Nvidia chips. These two companies already have a deep partnership. InVIDIA owned about $3.3 billion worth of CoreWeave stock before this deal. And it also agreed to buy up to $6.3 billion in unused cloud capacity if CoreWeave couldn't sell it to customers. So that effectively made Nvidia a financial backstop for CoreWeave. Now, as part of this $2 billion investment, Corweave will be amongst the first customers to use Nvidia's upcoming products,

including a brand new chip called Vera, which is Nvidia's first standalone CPU chip. So this could open up new revenue streams for Nvidia while also putting it in more direct competition with AMD and Intel. But you know, deals like these will continue to have concerns around circular financing because the money that Nvidia is investing in CoreWeave is going to be coming back to them as chip orders. And we talked a lot about that last year.

I guess people aren't talking about it as much, but I mean, it's still happening. But for now, CoreWeave investors aren't too worried about that. The stock is up more than 10% today. in reaction to this news. Sticking with the AI theme, let's talk about OpenAI. The rivalry between OpenAI and Anthropic is getting more intense, especially for the enterprise market. See, while OpenAI's chat GPT is the leading AI product used by consumers,

Anthropic, which is the maker of Claude, has quietly become the favorite AI provider for a lot of large companies thanks to tools like Claude Code and cowork. And being the AI provider to big companies is a better business model. Whoever wins Enterprise AI gets long-term contracts, sticky revenue, and massive switching costs, and that's why OpenAI is pushing hard to not let Anthropic run away with that market. According to the information, OpenAI CEO Sam Altman hosted a private dinner in San Francisco last week with top CEOs, including Disney's Bob Eiger, pitching OpenAI as the platform that can

handle everything for a large company, like customer service, to co-generation, to internal workflows. And to be fair, Open AI does make a lot of money from their enterprise. business, the company already gets about 40% of its revenue from business customers, and CFO Sarah Friar says that number could hit 50% by the end of this year. Sam Altman followed up by saying that Open AI did $1 billion in annualized API revenue in just the past month. So Open AI isn't just a consumer company. They're trying to dominate both markets, and I think that's where the problem is. See, Anthropic is solely focused on dominating enterprise. Yes, they still have their consumer cloud chatbot, but clearly the company is focusing on winning enterprise. And then you

have Google, which is focused on winning the consumer AI market with Gemini, and they have unlimited resources. So Open AI is trying to compete on both ends and losing. You know, Open AI has just lost their mojo and hype. All the stuff that Open AI has launched recently, like Sora and their AI browser, remember that? None of those have been a hit. So we'll see if they can bounce back and if Sam Aldman can charm these CEOs to using Open AI for the enterprise. I wonder if OpenAI should just focus on being a consumer AI company and not try to go out for the enterprise stuff. On a side note, I've been messing around with Claude Co-work, and it is pretty insane. So, Anthropic, man, they are crushing it right now.

Let's talk about some stocks making moves today. Shares of the company USA Rare Earth are surging this morning after the company announced that the U.S. government is taking a 10% stake in the company. Now, in exchange for the 10% stake, the U.S. Department of Commerce is giving the company $277 million in federal grants, and $1,000. $1.3 billion in government-backed debt financing. U.S. Rare Earth says they'll use this money to build a magnet manufacturing facility in Oklahoma and a rare earth mineral mine in Texas. You know, this investment is part of the Trump administration's broader push to make the U.S. more self-sufficient

on critical supply chains like Rare Earths. We've already seen the administration take similar equity stakes in companies like MP Materials, Lithium Americas, and Trilogy Metals. Investors clearly love it. U.S. Rare Earth's stock is up 20% this morning. in reaction to this news. Now, on the flip side, shares of Revolution medicines are getting absolutely crushed today after the pharma giant Merck

officially walked away from acquisition talks. According to the Wall Street Journal, Merck and Revolution had been discussing a deal valuing Revolution at $30 billion, but the talks collapsed after the two sides couldn't agree on price, and that's sending the stock of Revolution's medicine down by 20% this morning.

Now, Revolution's is expected to release trial data around their treatment sometime in the first half of this. seeer, and if that ends up delivering, it could be a blockbuster therapy. Some analysts believe that Revolutions's lead drug alone could generate tens of billions of dollars in annual sales, if successful. But I think investors are getting nervous because Merck is walking away from the acquisition, and I wonder if it's a sign that Merck doesn't think the trial results will be good. Something to keep an eye on, but investors are definitely bailing on the stock today. Let's wrap the

show with the fun fact. The UFC debuted on Paramount Plus, this past weekend and fans were not happy because of all the ads. Now for some context here, Paramount bought the media rights for UFC in a seven-year deal worth $7.7 billion. And Paramount decided to move the UFC away from its traditional $80 pay-per-view model and instead put the fight on Paramount Plus. Now on paper, that sounds great for fans, right? No more paying 80 bucks for a single fight night. Now you just need a Paramount Plus subscription, which starts at $9 a month. But the trade-off is that the broadcast was just loaded up with ads. You know, I'm not a UFC fan, so I didn't watch the fight myself, but I saw a lot of complaints on Twitter. People were talking about how the fighter walkouts

were cut short to show more ads. There was ads between rounds. And when the fights ended early, there was even more ads. And while this isn't great for fans, it's just the reality of sports media. You know, these media companies have to make money from somewhere. Either they charge fans $80 for a single fight, or they offer a cheaper access, but throw in a ton of ads. And you know what? I bet the data says that most fans are okay sitting through. ads if it means a lower price. And that's why you have all these streaming services like Netflix, Disney Plus, and HBO Max offering a cheaper ads to your subscription. But yeah, if you're a UFC fan and watch the event over the weekend, let me know in the comments on how you feel about this.

Would you rather just pay 80 bucks for a fight with little ads? Or are you okay sitting through the ads and watching the fight for just a Paramount Plus subscription? Let me know in the comments on what you guys think. Well, all right, guys, that's the rundown for today. I 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. And

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