The Rundown - Nvidia to Invest $100B into OpenAI, Disney Revives Jimmy Kimmel’s Late Night Show

Episode Date: September 23, 2025

Stock market update for September 23, 2025. This video is for informational purposes only and reflects the views of the host and guest, not Public Holdings or its subsidiaries. Mentions of assets are not recommendations. Investing involves risk, including loss. Past performance does not guarantee future results. For full disclosures, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Public.com/disclosures⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zadadmani, and today is Tuesday, September 23rd. In today's episode, we'll tell you why Apple stock got a booze yesterday and why markets continue to rally this month. We'll also break down the massive $100 billion deal between Nvidia and OpenAI. Then stick around to the end of the show to find out how much Tesla's first cars are being sold for right now. We got a great show for you today. Let's go.

Markets moved higher to start the week with the S&P 500 adding 0.4% and the NASDAQ climbing 0.7%. Both of these indices closed at record highs again. Apple stock was one of the big winners yesterday, jumping more than 4% thanks to strong early demand for the iPhone 17 lineup, especially in China. And fun fact, Apple stock has finally turned positive for the year. Overall, stocks have had a good month so far. You know, September historically is the weakest month of the year for the markets. In fact, the S&P 500 has dropped more than 4% in four of the last five years in September. But there seems to be no signs of the September scaries this year.

I think the optimism around future rate cuts and the AI boom and solid corporate earnings is giving investors confidence and continuing to push the markets higher. You know, the S&P has gone up nearly 5% this month so far, and hopefully that continues the rest of the month and the rest of the year as we enter into Q4. Now, speaking of earnings, Q3 earnings season is right around the corner. In about three weeks or so,

we're going to start getting a flurry of corporate earnings again. So we're getting ready for that, and that's one of many reasons why October is one of my favorite months of the year. So make sure you guys are locked into the podcast to stay in the loop. Let's run through some headlines. Starting with Nvidia and OpenAI. Invidia is committing to invest up to $100 billion into OpenAI in what might be one of the biggest AI infrastructure partnerships that we've ever seen.

This investment will go towards funding new data centers powered by Nvidia's chips, of course. Open AI wants their data centers to deploy up to 10 gigawatts of energy capacity, which is basically the same electricity demand as New York City. Now, this cash from Nvidia to Open AI will come in $10 billion. installments as each gigawatt of computing power comes online. The first investment will be kicking in once Nvidia's next generation Vera Rubin chip launches in the second half of 2026. This seems like one of those win-win kind of deals. You know, Open AI needs as much money as they can get to build out their AI infrastructure. Open AI estimates that the cost of training and running models will reach $450 billion

through 2030. And the company's CEO, Sam Altman, doesn't expect Open AI to turn a profit until 2029 at the earliest. And as for Nvidia, this investment will give them equity in Open AI and it'll lock them in as a customer because I'm sure OpenAI will use that cash from Nvidia to buy more Nvidia chips. And that's why every time I see these kind of deals, a red flag goes off for me because it sounds like circular accounting, you know? Nvidia gives money to a company just for that company to turn around and spend that money to buy Nvidia's chips and that causes Nvidia's stock to go up. It's like an infinite money glitch, you know, and it's starting to raise some.

eyebrows. But then again, investors are willing to look past it for now. Invidia stock jump 4% yesterday after this opening I deal was announced. By the way, as of right now, big tech players like meta, Amazon, Google, Microsoft, and OpenEI are expected to spend a combined $325 billion on AI infrastructure by the end of 2025. That's this year. And I'm sure that number will be even bigger next year. I mean, these numbers are getting so huge at this point that it all sounds made up. But yeah, let me know in the comments on what you guys think about. these deals and if you guys also think that it's potentially circular accounting, it just sounds a little shady to me. It's all I'm saying. Let's ship gears and talk about Disney because Disney is

bringing back Jimmy Kimmel's late night show to ABC tonight less than a week after pulling the show indefinitely due to Kimmel's comments about the assassination of conservative activist Charlie Kirk. Now Disney said they pulled the show last week to avoid further inflaming a tense situation after Kimmel's controversial remarks. It's also possible that Disney was reacting to the threat from the FCC. Last week, FCC Chairman Brendan Carr criticized Kimmel and suggested that the FCC could take action against the broadcasting licenses of ABC-owned stations. I mean, that is a wild threat right there,

and that spark concerns around government censorship and violation of free speech. This is one of those stories that's a mix of politics and business. And Disney's kind of caught in the middle here getting heat from all sides. Kimmel's suspension has sparked a backlash from Hollywood talent and some Disney Plus subscribers. More than 400 celebrities have signed an open letter, blasting the move by Disney and raising concerns that Disney could hurt its ability to attract stars for its TV and film projects. There was also reports of customers canceling Disney Plus subscriptions in protests. The people defending Jimmy's show getting taken down said that it was a business decision.

Jimmy Kimmel makes $15 million a year, while the ratings for his show have been weak. But the New York Times has reported that this was not a factor in removing the show. So yeah, Disney is trying to clean this up. They're trying to balance the reputational risk in Hollywood, the audience backlash, and its relationships with its affiliates and the government, for that matter. If Disney wants to do any future mergers, they have to get approval from the government, which could be a roadblock now. And even the ABC affiliates are split on this.

Sinclair, which owns dozens of ABC stations said that it won't air Jimmy Kimmel's show for now and will replace it with news programming. Next Star also took down Jimmy Kimmel's show and they haven't committed to whether they're going to re-air it. Keep in mind, Next Star is also trying to pass a merger, which they would need the FCC's approval. So yeah, all of this is getting really messy and we're probably going to see more of this down the line. Let's talk about some stocks making moves today. Corweave shares are up this morning after Wells Fargo upgraded the Data Center company to a buy. The bank highlighted Corweaves's advantageous spot in the AI.

build out right now. They're benefiting from Titan GPU supply as big tech companies scramble to scale up. On top of that Wells Fargo also likes the deal that CoreWeave has with Nvidia that would sell all of CoreWeaves's excess data center capacity to Nvidia through 2032. That deal is worth $6.3 billion for Corweave and it would allow the company to build out more data center capacity. Wells Fargo's new price target for Corweave is $170 per share and right now the stock is currently trading around $136 a share. So Wells Fargo thinks there's room to run, and that's why Corweave shares are up more than 2% this morning on this upgrade. Now, on the flip side, the company Firefly Aerospace is tumbling this morning after reporting a wider quarterly loss. The Space and Defense

Tech company lost $80.3 million last quarter compared to $58.7 million a year ago. Revenues also took a dip to $15.5 million compared to $21 million a year ago and missing. analyst expectations. Now, the company's management insists that things are on track. They're ramping up flight cadence and building out vehicles to meet demand, especially for national security missions. And to be fair, Firefly has pulled off some milestones this year, like the first fully successful commercial moon landing with its NASA-backed Blue Ghost mission. Blue Ghost sounds like an awesome name for a mission, by the way. But that still wasn't enough to impress investors and shares of the company are down about 10% this morning in reaction to the earnings.

This company just IPOed last month at $45 a share. The stock is now sitting at $44 a share. So they've dipped below their IPO price. Let's wrap the show with the fun fact. Tesla's first car was the Tesla Roadster, which they launched back in 2008. It was a flashy little sports car. They only sold about 2,400 units between 2008 and 2012,

and they sold for around $120,000. So it was pretty expensive. But more importantly, it was a proof of concept, and it proved that EVs could actually work. So that set up Tesla to launch the Model X, the Model 3, the Model Y, and the Cybertruck. Now, you fast forward to today, and these old roadsters are basically collector's items now. Some are reselling for hundreds of thousands of dollars still. Now, Tesla did announce plans to launch a second generation roadster back in 2017, and it was expected to come out in 2020. Well, it still hasn't come out yet, and there seems to be no timeline on winning.

It will. What's crazy is that it costs $50,000 back in 2017 to reserve the Roadster 2. That's a lot of money to pay Tesla to not get a car seven years later. In fact, if you had just invested the $50,000 in Tesla stock back in 2017 instead of reserving the Roadster, that investment would be worth over a million dollars today. I mean, that's enough to buy multiple roadsters if they ever get made. At this point, I'm starting to wonder if we're going to get GTA 6 before the Roadster 2. Well, all right, guys, that's the rundown for today. Hope you guys enjoyed today's episode.

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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. Rosen lasagna, medium power, 15 minutes. Sounds like Ojo time. Let's play.

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