The Rundown - Palantir Partners with Boeing, Alibaba Soars on AI Announcements

Episode Date: September 24, 2025

Stock market update for September 24, 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 Wednesday, September 24th. In today's episode, we'll tell you about the comments from Jerome Powell yesterday that sent the markets lower. We'll also tell you about a new partnership between Palantir and Boeing and why Micron thinks it's in a good spot to ride the AI wave. Then stick around to the end of this show to learn about a new partnership between Ali Baba and NVIDIA and find out which beer just took the title for top selling in the U.S. We got a great show for you today.

Let's go. The stock market rally lost some steam yesterday with the S&P 500 dropping 0.6% and the NASDAQ dropped 1%. And honestly, I think we might be able to blame Jerome Powell for this one. Jerome Powell was giving a speech at some event yesterday. And in that speech, he straight up said that stock. stock prices seem fairly highly valued. As soon as those words came out of his mouth, the stock market took a dive.

And to be fair, he's not the only one that feels this way. There's been a lot of chatter now that the market is potentially overvalued. We even talked to Nick Majuli on the podcast a few weeks ago, and he was saying the same thing. A number that a lot of people point to is the S&P 500's forward price to earnings ratio is around 23, which is the highest it's been since like the late 90s during the dot-com bubble. And we all know how that ended, right? And beyond just the PE ratios, there are other factors to consider. Like the U.S. government might be headed for a shutdown in a couple weeks if a budget isn't passed.

And from everything that I'm reading, it doesn't seem like Republicans and Democrats in D.C. seem to be close to a deal right now. So that's adding another layer of uncertainty. And then we have Q3 earnings season, which is right around the corner, it kicks off in a couple weeks. And the expectations for those earnings are going to be pretty high. Corporations are going to have to show strong profits in order to justify the high valuation right now, especially the big tech companies. So yeah, the next month or so is setting up to be pretty eventful.

We'll have plenty to cover here every morning. 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. Boeing is teaming up with Palantir to bring AI into its defense programs and factories. Boeing's defense, space, and security division, aka BDS, will roll out Palantir's foundry platform across plants that build fighter jets, helicopters, missiles, and satellites. Basically, Palantir's software is going to streamline those production lines, making operations faster and smarter. On top of that, Palantir is working with Boeing on a bunch of undisclosed

classified projects tied to sensitive military missions. And this deal really just fits into Palantir's whole brand right now. They've obviously made a name for themselves by partnering with governments all over the world and providing them with technology and AI. So doing a deal with Boeing, which also does government work, makes a lot of sense. And it allows Palantir to diversify their revenue beyond just government contracts. You know, government contracts have been Palantir's bread and butter for the majority of their existence. Since 2008, Palantir has been awarded over 300 contracts worth nearly $3 billion in federal funds. But that's starting to ramp up now. More than $615 million of that came just last year. In fact, last quarter, Palantir's revenue

topped $1 billion for the first time, and it was up $4,000. 48% from the year prior. So Palantir's revenues keep growing and the deals keep on coming in. Palantir expanded their deal with ICE in a $30 million deal. And just a month ago, Palantir announced that they were consolidating 75 contracts into a single deal with the U.S. Army worth as much as $10 billion. And they're also going international as well. Last week they announced a five-year $1 billion deal with the UK Ministry of Defense.

So yeah, Palantir seems to be firing on all cylinders right now. They're seeing growth in government contracts, but also contracts with corporations. In fact, they see the non-government contracts with a big growth area for their business. So I guess that explains why Palantir investors are super hyped and the stock is up more than 140% this year. Now, speaking of a hot stock, let's talk about Micron. Micron makes memory chips

and the demand for that has been through the roof recently thanks to all the AI spending. Micron reported a 46% jump in revenue to $11.3 billion and that was mainly driven by its unit that sells memory for cloud providers. Revenue for that. that unit tripled year over year to $4.5 billion. And the demand for memory is expected to remain strong, which is why the company guided for a $12.5 billion

revenue for this current quarter. That's better than the $11.9 billion that analysts were estimating. Now, to keep up with all the demand, Micron says they do have to spend big. The company has already spent nearly $14 billion into new plants and equipment this year, and they say that 2026 CAPEX will be even higher. Most of the CAP-X money is being earmarked for DRAM production, which is the core memory that powers AI systems. Earlier this year, Micron also unveiled plans to spend more than $200 billion building semiconductor capacity in the U.S. So Micron is another one of those companies that's been a huge beneficiary of the AI boom.

And they're also planning to spend a lot of money in CAPEX to meet the demand for AI. Now, micron stock didn't move much following the earnings results, probably because the stock is already up nearly 100% year to date. investors have been front running this AI way for months now. But Micron's CEO continues to hype up the company, saying that as the only U.S.-based memory manufacturer, Micron is in a unique position to ride this AI boom. Let's talk about some stocks making moves today. Alibaba shares are up this morning after the Chinese tech giant

revealed a new AI model and announced a new partnership with Nvidia. The new AI model is called Quinn 3 Max, and it's set to outperform recent Claude and DeepSeek models on certain parameters, according to Alibaba. On top of this new AI model, Alibaba said that it would boost their AI spending beyond the $53 billion over the three years that it committed to earlier this year. And if that wasn't enough, Alibaba is teaming up with Nvidia on physical AI. Think like robotic, self-driving cars, and other hardware integration.

So investors love the sound of that, and Alibaba stock jumped nearly 9% this morning on this news. and it's now sitting at four-year highs. Thank God I never sold. Now, sticking with the winners here, lithium America's corporation, also known as LAC, is skyrocketing this morning after reports that the Trump administration is seeking to buy a 10% stake in the company.

LAC is currently negotiating a $2.3 billion loan from the Department of Energy for its massive lithium project in Nevada called Thacker Pass. So as part of that deal, the US government might take a stake in the company. If that does happen, LAC would join Intel and MP materials as part of the U.S. government's growing portfolio of strategic investments. LAC stock is up nearly 70% this morning in pre-market trading.

Now, on the flip side, Oracle's stock has taken a bit of a hit this morning after the company announced five new data centers as part of the $500 billion Stargate AI project with Open AI and SoftBank. Now, this comes right after the flagship Texas facility opened up recently, which alone is costing Oracle a billion dollars a year just to power with gas generation. So the thing is, all this spending is dragging down Oracle's cash flow into the red for the first time since 1992. In fact, analysts don't expect Oracle to be cash flow positive until 2029. So that's making investors a little nervous and Oracle stock is down 2% this morning. Now to cope with all this

data center costs, Oracle says they're planning to lay off 500 workers, which I guess might be enough to pay for all the data centers, assuming each worker they're laying off was making a billion dollars a year. But yeah, Oracle is going to be doing some restructuring to pay for all this stuff. Let's wrap the show with a fun fact. For the first time ever, Mickelope Ultra is now the best-selling beer in America, overtaking Modelo for the crown. Now, what's crazy is that it was only two years ago when Modelo overtook Bud Light to be the best-selling beer in America. And before that, Bud Light held the title for 20 years. So the title for best-selling beer is kind of like the NBA right now. There seems to be a new champion every year. You know, Modela has faced some challenges recently.

Its parent company Constellation Brands is dealing with tariffs on aluminum and Mexican imports. Plus, they're seeing weaker demand from the Hispanic consumers who have historically made up about half of Modello's customer base. So yeah, all those challenges have pushed Constellation stock down 40% this year. By the way, the parent company of Mikulub Ultra is Anheuser-Busch. They all also owned Bud Light, and they seem to be having a comeback right now. Their stock is up 16% this year. But yeah, I wonder if Mikalub Ultra will hold the title for best-selling beer for a long time, or if another beer is going to overtake them next year.

Well, all right, guys, that's the rundown for today. Hope you guys enjoyed today's episode. If you did, and you have like eight extra seconds, consider giving us a five-star rating on Apple, Spotify, wherever you listen to your podcasts. We are getting very close to 6,000, five-star rating. ratings on Spotify. It might happen before the end of the month. Who knows? Ending the quarter with 6,000 five-star ratings would be incredible. Maybe the podcast might get that trip to Vegas after

all. By the way, if you guys are listening on Spotify, don't forget the 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 a 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 we'll see you guys. It's back here tomorrow. Rosen lasagna, medium power, 15 minutes. Sounds like Ojo time.

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