00:00 Speaker A
Target shares jumped today after the Financial Times reported activist investor Tom’s Capital had taken a stake in the big box retailer. Target’s stock rose nearly 3% on the news, even though its stock has fallen about 25% over the past year after going through a tough period of weak sales and market share losses. Target said the company remains committed to returning to growth, but details of the activist holding have not been disclosed.
00:36 Speaker A
Oil prices fell as investors reacted to progress in Ukraine peace talks, with the prospect of a deal likely to bring more Russian crude back to global markets and exacerbating supply concerns. Crude oil prices are hovering around $57 a barrel, with Brent near $60. Traders continue to weigh geopolitics against expectations of a global oil glut in 2026.
01:13 Speaker A
Nvidia’s stock price rose after it announced its largest ever deal, agreeing to acquire the assets of artificial intelligence chip startup Groq for $20 billion. The move deepens Nvidia’s push into artificial intelligence inference as the company looks to extend its dominance beyond chips. Groq was founded by former Google TPU engineers and was valued at just under $7 billion in its most recent funding round. Nvidia said it is licensing Groq’s technology and bringing on key talent rather than acquiring the company outright as competition for artificial intelligence hardware continues to intensify.