arnti
201 posts
$PLTR
Palantir moves from $122 in the premarket to $131 as the market opens.
It got hit in the premarket because of the $IBM news around software spend shifting to capex spend...but that seems like an IBM problem.
Quite frankly, if clients aren't willing to spend on IBM like they used to, it means that IBM has issues providing value to justify that spend.
Palantir has consistently said that an enterprise's spend should only go to software that results in OUTCOMES. Without those outcomes, most software spend is useless.
Satya Nadella literally quoted Alex Karp yesterday in his article about why the market needs to focus on true enterprise transformation and not just tokens. Chamath was on CNBC this morning saying that Alex Karp “deserves a medal” for being “on the right side of history" given his analysis around how the foundation model companies are stealing IP and don't actually care about producing value for their customers.
The market taking IBM down and PLTR up is actually resulting in exactly what Alex Karp has said:
The capital will be rewarded to the companies that are downstream of value creation.
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$IBM
Woah.
IBM put out preliminary Q2 results...and they are not good.
Revenue was $17.2B vs $17.86B expected, up 1% YoY. Consulting revenue was flat and infrastructure revenue was down 7% YoY.
All the software names are down in sympathy to IBM basically saying that software spend went to semiconductor spend this quarter.
CEO Arvind Krishna: “In the last few weeks of June, we saw clients shift their quarterly capex spend toward servers, storage, and memory purchases to secure supply-constrained infrastructure ahead of expected price increases.” He also said clients were distracted by “rapidly-evolving, industry-wide cybersecurity concerns,” and that IBM “did not anticipate the magnitude of the capex reprioritization.”
Company just lose $65B in market cap.
I don't think all the software names should be down because of IBM's specific news but today could be a day where the fear of this happening to other names affects all of them.
$IBM -24%
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Sat down with Ryan Cohen, CEO of GameStop, to discuss his early starts in business, why he took a stake in GameStop 5 years ago, and why Ebay deserves a new home.
Thank you to @ryancohen for taking the time!
Timestamps:
00:00 - Intro
00:50 - Ryan's Beginnings in Business
05:50 - Why Pets?
12:20 - Why Enter into Gamestop
15:59 - Gamestop's Future
18:21 - Gamestop's Retail Community
23:10 - Collectibles TAM
26:09 - Why Ebay
30:45 - Ebay's response to the offer
36:20 - Ebay's Live Studio Play
38:00 - Agentic Commerce
41:08 - Rapid Fire
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