Here's a full recap:
1. $NVDA GTC: First, Nvidia unveiled the GR00T N1, an open-source generalist model for humanoid robots, consolidating years of training efforts, with CEO Jensen Huang calling robotics "the largest industry of all." Second, Nvidia announced a collaboration with Google $GOOGL and Disney Research $DIS to develop the Newton physics engine, expected later this year. Third, the company’s product roadmap outlined Rubin for 2026 and 2027, followed by Feynman in 2028, showcasing its long-term AI vision. Fourth, Nvidia $NVDA named General Motors $GM as its newest partner for autonomous self-driving technology, following GM’s closure of its Cruise division, indicating a strategic pivot to work with Huang’s team. Fifth, Huang revealed a stunning insight, stating, "The amount of computation we need at this point because of agents and reasoning is easily 100 times more than what we thought we needed," reflecting massive demand for computation infrastructure in the future. $NVDA was down 4%.
2. Tesla $TSLA has secured its first approval toward launching a robotaxi service in California, with the California Public Utilities Commission granting a transportation charter-party carrier permit, typically for chauffeur-operated services, as reported by Bloomberg. This permit allows Tesla to own and operate a fleet for pre-arranged employee trips but does not yet extend to ride-hailing or autonomous vehicle services. Tesla applied for this permit in November 2024, marking an initial step, though it has not yet filed for the additional approvals needed for full robotaxi operations.
3. Reports from Bloomberg today suggested $GRAB, with $6 billion in cash and a $17.5 billion market cap, may acquire its struggling Indonesian rival GoTo, which has lost 70% of its value since its IPO, to end mutual margin erosion and boost Grab’s dominance in Southeast Asia with 30 million monthly active users and $1 billion in revenue. This follows Grab’s lack of a significant buyback plan after the Q4 call, with due diligence on GoTo’s financials underway. According to Bloomberg, Companies and shareholders are evaluating deal structure and valuation, though nothing is confirmed. The merger could transform Grab’s growth prospects, addressing profitability challenges for both firms.
4. $GOOGL has reportedly agreed to acquire cloud security startup Wiz for $32 billion—the largest acquisition in its history—set to be announced Tuesday morning, following failed $23 billion talks last year due to antitrust concerns from some Wiz investors, with the fast-growing firm, serving nearly half of America’s top 100 companies and reaching $500 million in annual recurring revenue in 2024, bringing its employees an additional $1 billion in retention bonuses, though the deal could face FTC scrutiny under Trump’s administration given VP JD Vance’s criticism of Big Tech’s power.
5. Chinese automaker BYD has unveiled a new Super e-Platform battery system that it claims can charge an electric vehicle as quickly as refueling a gas car, adding 400 km of range in just 5 minutes—outpacing $TSLA Tesla's Superchargers, which deliver 275 km in 10 minutes—thanks to a 30,000 RPM motor, next-gen silicon carbide power chips, and ultra-fast ion channels that cut internal resistance by 50%, with plans to roll out over 4,000 charging stations in China to support the launch of the first models, the Han L and Tang L, starting at approximately $38,000 in April, though high-voltage grid support remains a hurdle.
6. President Trump posted on X about a productive phone conversation with Russian President Putin. They agreed to an immediate ceasefire on energy and infrastructure, with plans to work toward a complete ceasefire and ultimately end the Russia-Ukraine war. Trump claimed the war would not have started under his presidency and mentioned discussions on a peace contract, noting the high casualties and the desire of both Putin and Ukrainian President Zelenskyy to end the conflict. He stated that the peace process is now in full effect, expressing hope for a resolution for humanity's sake. However, Ukrainian President Zelenskyy expects Russia to continue attempts to seize more land, believes the call indicates Russia is not ready for a ceasefire, and has expressed a desire to discuss Russia's proposal directly with Trump.
7. The Atlanta Fed's GDPNow estimate for Q1 growth was revised upward to -1.8% from -2.1%, signaling that the economy is still contracting but has improved slightly from its lowest point, thanks to stronger private domestic investment now projected to grow by 9.1% compared to the previous 7.2% estimate; however, growth remains negative overall, with the next update slated for March 26 after the FOMC blackout period ends. Tomorrow, Jerome Powell and the Federal Reserve will decide if rates should be paused or cut. The market is pricing in a 99% of a pause.
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