Your Evening Briefing

December 12, 2025

Markets end the week in the red as Broadcom and Oracle concerns drag the entire AI trade down

The markets ended Friday down, as negative sentiment following Broadcom’s earnings combined with a Bloomberg report saying Oracle is delaying some data centers for OpenAI to 2028 from 2027 weighed on everything connected to the AI trade from data center trades such as Sandisk and Western Digital to AI REITs like Equinix and Digital Realty as well as other AI-geared stocks like Constellation Energy, Arista Networks, and Corning.

Oracle’s subsequent denial pared some of its losses but did little to reverse the trend, and while Nvidia had gotten a boost pre-market from a report it was considering boosting H200 production, it lost all those gains and finished lower. AMD also suffered from the AI worries, as it had previously inked a substantial deal with Oracle to supply 50,000 chips for its data centers.

All three major US stock indexes were negative on Friday. Tech was the worst-performing sector ETF by far and sunk the Nasdaq 100 nearly 2%. The S&P 500, which just notched a closing all-time high, gave up all those gains and more to end down for the week.

Stocks that moved higher:

Planet Labs rose after aerospace and defense analysts at Citi initiated coverage with a “buy/high risk” rating and $19 price target
Lululemon soared after posting better than expected Q3 results after the bell yesterday, with an upbeat full-year outlook and announcing the CEO will depart in January
After a good night’s rest, investors decide they liked Rivian’s AI Day event after all, sending the stock surging

Stocks that moved lower:

Shares of kid-focused gaming platform Roblox fell following a downgrade by JPMorgan to “neutral” from “overweight,” saying hits like “Steal a Brainrot” are past their peak
Fermi dropped after it disclosed that its first tenant for its planned Project Matador power grid site has terminated its $150 million contract

Weed stocks rally on reports that Trump admin is close to reclassifying marijuana

It’s not the first (or second or third) time that the Trump administration has been rumored to be considering reclassification. Read more.

The most outlandish tech CEO quotes of 2025

There were some doozies this year. While you may know which CEO said he can’t imagine raising a newborn without ChatGPT, can you guess which one boasted, “You should’ve seen some of the memes that are on the internet. Have you guys seen some of them? We’re basically holding the planet together — and it’s not untrue.”

Read more.

“Zootopia 2” becomes the second billion-dollar film of 2025. It’s hit the notable box office milestone in less than three weeks, making it the fastest to reach 10 figures of any animated film. Read more.

The economics of Instacart’s grocery delivery are pretty tight — AI might help, or hurt
AI proved to be a double-edged sword this week for Instacart, as the gains from a new ChatGPT integration were wiped out by an AI pricing allegation.
Trump AI executive order is a “major win” for Open AI, Google, Microsoft, and Meta, says Ives
The president signed an executive order aimed to crimp state AI laws
Not so sweet: A cookie empire is crumbling
Trendy cookie chain Crumbl is facing layoffs and operational chaos, amid wafer-thin margins

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