A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Palantir $Palantir Tech(PLTR.US) named Nebius $Nebius(NBIS.US) its preferred sovereign AI infrastructure partner, announcing a strategic partnership to integrate Nebius compute and inference endpoints directly inside Palantir’s enterprise perimeter. The integration will allow eligible Palantir commercial customers to run open AI models on Nebius infrastructure, continuously adapt them using proprietary company data, and maintain control over their compute, models, and data. The companies also plan to bring new AI compute capacity online faster, including modular data-center deployments in locations where power is already available. Palantir CEO Alex Karp said, “Nebius’ compute infrastructure powers your ability to run your own AI models under conditions you control. Our ontology and their infrastructure will undergird the sovereignty our partners are demanding.” Nebius CEO Arkady Volozh added that the partnership will help commercial clients run optimized open models on trusted infrastructure while maintaining control over their data and models.

2. The EU and Canada are reportedly set to announce a major “all-encompassing” partnership spanning trade and security after President Trump’s latest tariffs, according to Bloomberg. The goal is to build a new alliance that helps offset global power politics dominated by the U.S. and China. The partnership is expected to be announced on September 16, with Canada and the EU reportedly aiming to get “as close as legally possible” short of EU membership. Canada has also become the first country outside the EU to join the bloc’s $175B military procurement fund, underscoring how quickly trade tensions are pushing allies toward deeper economic and defense cooperation.

3. BlackRock’s Bitcoin ETF $IBIT has attracted $3.7B of inflows so far this quarter, putting it on pace for its largest quarterly intake since Q3 2025. The fund has already added $459.8M in September inflows, following $3.0B in August, its biggest monthly inflow since October 2025. As a result, $IBIT AUM has climbed to $62.6B, near its highest level since mid-May. Since the start of July, the fund’s AUM has increased by $19.6B, or 46%, showing renewed institutional and retail demand for Bitcoin exposure through ETFs.

4. OpenAI CFO said at the Goldman Sachs conference that the consumer business is accelerating, with July revenue up 20% MoM. The enterprise business grew even faster, with July revenue up 32% MoM. OpenAI’s revenue mix is now roughly 50/50 between enterprise and consumer, showing that growth is broadening beyond ChatGPT subscriptions and into business adoption.

5. Schwab retail activity in August shows investors selling the software rip and buying the semiconductor dip. The top retail buys were $SpaceX(SPCX.US), $Micron Tech(MU.US), $NVIDIA(NVDA.US), $Intel(INTC.US), and $Alphabet(GOOGL.US), while the top sells were $ServiceNow(NOW.US), $Adobe(ADBE.US), $Microsoft(MSFT.US), $Palantir Tech(PLTR.US), and $Oracle(ORCL.US). The shift points to more active portfolio management from retail investors, with money rotating out of crowded software winners and into AI, chips, and compute-related names after pullbacks.

6. Copper prices on the LME have surged to a record $14,533/ton, now up 47% over the last 12 months. The move is being driven by tight supply and rising demand from data centers, renewable energy, and power grids. Expectations that President Trump could expand tariffs to refined copper imports have also pushed U.S. Comex prices above global prices, creating an incentive for traders to ship hundreds of thousands of tons of copper into the U.S. to capture the price spread. As a result, global stockpiles are becoming increasingly concentrated in the U.S., draining LME inventories to critically low levels and leaving less readily available copper for buyers elsewhere.

7. Meta $Meta Platforms(META.US) launched Muse, a personal AI agent that can take actions across apps and the web, including sending emails, booking travel, filling out forms, and making purchases with user approval. Muse runs on Meta’s new Muse Secure VM, giving each user a dedicated cloud environment with a separate Sentinel agent that reviews actions before they reach the internet. The agent can continue working after the app is closed, remember user preferences, and proactively move longer-term tasks forward. Meta is also integrating Stripe Link for checkout, with Shop Pay and 1Password support coming later.

8. IREN $IREN(IREN.US) said its 2 GW Sweetwater Hub has been conditionally included as base load in ERCOT Batch Zero. Sweetwater 1 accounts for 1.4 GW and Sweetwater 2 for 600 MW, both part of IREN’s broader 5 GW+ global data-center development pipeline. At Sweetwater 1, the high-voltage substation is already energized, with 300 MW of gross data-center capacity under construction and targeted for delivery in Q4 2027. IREN also said additional large-scale projects across its development pipeline have been included in Batch Zero, though ERCOT classifications remain conditional and subject to further approvals.

9. The top 10 most active options today by contracts traded were $Tesla(TSLA.US) with 2.4M contracts, $NVIDIA(NVDA.US) with 2.2M contracts, $Intel(INTC.US) with 1.3M contracts, $SpaceX(SPCX.US) with 847K contracts, $Apple(AAPL.US) with 689K contracts, $Micron Tech(MU.US) with 673K contracts, $AMD(AMD.US) with 615K contracts, $Meta Platforms(META.US) with 568K contracts, $Amazon(AMZN.US) with 524K contracts, and $Coreweave(CRWV.US) with 477K contracts.

10. The U.S. government is backing Rigetti $Rigetti Computing(RGTI.US) and D-Wave $D-Wave Quantum(QBTS.US) with up to $200M for quantum computing R&D. Rigetti signed a definitive $100M agreement with the U.S. Department of Commerce to address key scaling bottlenecks in superconducting quantum systems, including cryogenics, readout electronics, and high-connectivity chip fabrication. D-Wave separately finalized access to up to $100M to advance its annealing and gate-model platforms, including work on a 100,000-qubit annealing system and a 10,000-qubit gate-model system targeting 100 logical qubits. As part of the funding, the Commerce Department will receive minority, non-controlling equity stakes in both companies.

11. Uber $Uber Tech(UBER.US) President and COO Andrew Macdonald purchased 70,000 shares for roughly $5.3M. Macdonald is one of Uber’s longest-tenured executives, making the insider buy notable given his deep knowledge of the business, operations, and long-term strategy.

12. U.S. data center construction spending surged 57% YoY in July to a record annualized rate of $75B, following a 46% YoY increase in June and marking the fastest growth since mid-2025. Since the start of 2021, data center construction spending has soared by $66B, or 717%. Since the end of 2023 alone, spending has risen by $51B. Over that same period, all other private construction spending — including housing, shopping centers, and offices — has declined by $120B, showing how dramatically AI infrastructure is diverging from the rest of the construction market.

WALL STREET IS THE GREATEST SHOW ON EARTH.

Source: amit