Digital credit products from Strive and Strategy experienced their worst day on record Thursday, with prices plummeting below par values. Strive CEO Matt Cole attributed the declines to a 'leverage liquidation event,' not a deterioration of underlying credit quality, while acknowledging investor concerns about dividend payments.
Alphabet CEO Sundar Pichai announced a $45 billion equity offering, oversubscribed with Berkshire Hathaway investing $10 billion, to fund AI compute build-out. The company plans to raise an additional $40 billion via an at-the-market program, bringing the total to $85 billion.
US stocks, including the S&P 500 and Nasdaq, are nearing record highs despite Alphabet's $80 billion equity offering announcement, which pressured Magnificent 7 stocks. Bitcoin also fell 5% to below $70,000.
CATL shares fell 6.81% Tuesday after the EV battery maker announced a $5 billion private placement in Hong Kong. The placement price of HK$628.20 compared to trading at HK$627.5, with net proceeds of roughly HK$39.1 billion. Funds will support global new-energy projects, overseas expansion, production capacity and R&D. The company posted Q1 net profit of 20.7 billion yuan, up 49% year-over-year.
