Saturday, 9 May 2026
Ryan Cohen, CEO of GameStop, has launched a $56 billion hostile bid for eBay, proposing to acquire the company at $125 per share. To support his acquisition efforts, Cohen has listed 36 personal items on eBay, including GameStop memorabilia, with the highest bids reaching nearly $15,000. GameStop currently owns about 5% of eBay and has secured $20 billion in debt financing from TD Bank to facilitate the deal.
Arm reported record quarterly revenues of $1.49 billion and annual revenues of $4.92 billion, reflecting a 20% growth for the third consecutive year since its public market return. However, the British chip maker highlighted challenges in the semiconductor supply chain, admitting it lacks sufficient manufacturing capacity to meet the surging demand for its new AI processors, which have already surpassed $2 billion in anticipated sales over the next two financial years.
Jane Street reported a record $16.1 billion in trading revenue for the first quarter of 2026, marking a more than 40% increase from the same period last year, while profits more than doubled to $10.3 billion. The firm's performance was driven by increased market volatility and successful investments in AI companies such as Anthropic and NVIDIA-backed CoreWeave. Utilizing medium-frequency trading strategies, Jane Street has solidified its position as a leading market maker, outpacing competitors like Citadel Securities.
Inspire Brands, the owner of Dunkin', has confidentially filed for an initial public offering (IPO), potentially valuing the company at around $20 billion, according to reports from Roark Capital. Founded in 2018, Inspire operates over 33,300 restaurants worldwide, generating more than $33.4 billion in annual sales across its brands, which include Arby’s, Buffalo Wild Wings, Sonic, and Jimmy John's. This move comes amid a broader trend in the restaurant industry, as Jersey Mike’s has also announced plans for an IPO.
Nintendo reported a 51.3% increase in net profit for the fiscal year ending March 2026, totaling 358.8 billion yen ($2.2 billion), alongside net sales of 2.313 trillion yen ($14.6 billion), up 98.6% year-over-year. Despite strong initial sales of the Switch 2, which sold 19.86 million units and generated 48.71 million software sales, the company forecasted weaker sales for the upcoming fiscal year, projecting 16.5 million units for the Switch 2 hardware.
Stellantis has expanded its collaboration with Leapmotor to enhance operations at the Figueruelas plant in Zaragoza, Spain, where they will jointly produce Opel's new fully electric C-SUVs and B10 models. This partnership, which began in 2023 when Stellantis acquired a 21% stake in Leapmotor, aims to leverage Chinese EV technology to improve supply chain efficiency and reduce costs, with production expected to start as early as this year. The move reflects a broader trend among Chinese automakers to establish manufacturing operations in Europe amid increasing competition from low-cost electric vehicles.
Akamai Technologies Inc has signed a $1.8 billion cloud computing agreement with Anthropic PBC, a prominent AI company, to enhance its infrastructure over the next seven years. This deal comes amid rising demand for AI solutions, with Akamai reporting a 6% increase in first-quarter revenue to over $1 billion, and a 40% surge in cloud infrastructure services revenue to $95 million. Akamai's CEO Tom Leighton highlighted the company's extensive global infrastructure, which spans 4,300 locations in 130 countries, as a critical asset in supporting AI applications.
Isomorphic Labs, an AI-driven drug discovery company spun out of Google DeepMind, is in advanced discussions to secure over $2 billion in new funding, following its initial $600 million Series A round led by Thrive Capital. CEO Demis Hassabis has delayed the company's first clinical trials to the end of 2026, and this new capital is intended to provide the necessary resources to meet that revised timeline.
China's exports rose by 14.1% in April compared to the same month last year, despite ongoing geopolitical tensions related to the Iran war and the effects of higher U.S. tariffs. This data was released just ahead of a planned summit between President Trump and President Xi.
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