📦 Amazon To Invest $100 Billion

Good afternoon! The Vera Rubin Observatory just dropped its first images, and they're straight out of a sci-fi dream. Using the world’s largest telescope camera with a mind-blowing 3 billion pixel sensor, the observatory captured millions of galaxies, thousands of new asteroids, and just 0.05% of what it plans to record over the next decade.

This isn’t just pretty space wallpaper. The LSST camera is built to uncover dark matter, track near-Earth objects, and build the most detailed time-lapse of the universe ever attempted. Scientists are calling it “the most efficient solar system discovery machine ever built” and every frame of its celestial work will be available to researchers around the globe.

MARKETS

• The Nasdaq 100 closed at a record high for the first time since February, gaining 1.53% as megacap tech led the charge. Nvidia, Microsoft, and Apple helped push the index to 22,190.52, signaling fresh momentum.

• A fragile Israel-Iran ceasefire and plunging oil prices gave investors reason to buy. The S&P 500 and Nasdaq Composite hit their highest levels in months, while the Dow jumped 507 points.

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STOCKS
Winners & Losers

What’s up 📈

• Nektar Therapeutics exploded 156.29% thanks to strong results in the Phase 2 trial of its new eczema treatment. ($NKTR)

• Ambarella soared 20.61% on reports that the chip designer may be exploring a sale. ($AMBA)

• CleanSpark climbed 13.45% after announcing it hit its midyear bitcoin mining hashrate target. ($CLSK)

• Uber gained nearly 8% after Waymo began offering robotaxi rides through the Uber app in Atlanta. ($UBER)

• Carnival popped 6.91% after the cruise line reported impressive earnings and reiterated its healthy financial guidance. ($CCL)

• Lyft gained 6.09% after TD Cowen analysts upgraded the stock, calling it their “Best SMIDcap Idea for 2025.” ($LYFT)

• Frontier Group jumped 7.56%, American Airlines added 4.31%, and JetBlue Airways rose 4.15% as falling oil prices boosted airline stocks. ($ULCC, $AAL, $JBLU)

• Coinbase jumped 12.10%, Riot Platforms rose 8.09%, and MARA Holdings gained 4.94% as crypto-related stocks rallied following a Middle East ceasefire. ($COIN, $RIOT, $MARA)

• Royal Caribbean and Viking Holdings each gained over 2%, and Norwegian Cruise Line rose 4.30%, following Carnival’s earnings boost. ($RCL, $VIK, $NCLH)

• Snowflake rose 4% after Morgan Stanley upgraded the stock, citing AI-driven upside. ($SNOW)

• Mastercard rose 2.80% after announcing it will integrate Fiserv’s new stablecoin into its products. ($MA)

What’s down 📉

•  Advance Auto Parts fell nearly 7% after Goldman Sachs downgraded the stock to sell, citing potential market share losses. ($AAP)

• Kratos Defense & Security slid almost 6.56% on the same geopolitical developments. ($KTOS)

• Occidental Petroleum fell 3.34%, Exxon Mobil dropped 3.04%, and Chevron declined 2.25% after oil prices slid on Middle East ceasefire news. ($OXY, $XOM, $CVX)

• Northrop Grumman fell 3.14%, RTX dropped 2.72%, and Lockheed Martin lost 2.59% as defense stocks sank on the ceasefire announcement. ($NOC, $RTX, $LMT)

• Krispy Kreme dropped 0.76% after its McDonald’s partnership reportedly fell apart due to rising costs. ($DNUT)

INVESTMENT
Amazon Expands Same-Day Delivery to 4,000 Rural Towns and Invests $100 Billion in AI and Infrastructure

Amazon is taking Prime to the backroads. The ecommerce giant said it’s expanding its Same-Day and Next-Day delivery services to more than 4,000 small towns and rural communities across the U.S. by year’s end. The $4 billion push will triple its delivery network by 2026 and cater to rising demand for essentials like toilet paper and pet food, which Amazon says now make up a third of all U.S. units sold.

With the help of AI-powered inventory tools that pre-position goods closer to shoppers, Amazon’s “need it now” game is getting stronger—and it’s not just for city dwellers anymore.

From Barns to Bits

Rural expansion isn’t Amazon’s only moonshot. The company is also building 30 massive AI data centers in Indiana, powered by up to 2.2 gigawatts of electricity (roughly a million homes' worth). These centers won’t be running on Nvidia’s blockbuster chips like the rest of Big Tech—they’ll be fueled by Amazon’s own Trainium 2 chips, designed to power Anthropic’s AI systems, in which Amazon has invested $8 billion.

Capex for all this? A casual $100 billion this year alone.

London’s Calling: Across the pond, Amazon also announced a £40 billion (~$54B) investment in the U.K. over the next three years. The package includes four new fulfillment centers, 4,000 jobs, new offices in East London, and upgrades to its transportation and data infrastructure. It’s a big win for Prime Minister Keir Starmer, who’s trying to lure in tech giants to reignite the U.K.’s post-Brexit economy.

The Bottom Line: Whether it’s rural America, AI labs, or English warehouses, Amazon’s bet is clear: faster deliveries, deeper infrastructure, and a tighter grip on the future of both shopping and computing.

NEWS
Market Movements

• 📈 Polymarket nears $200M raise at $1B valuation: The crypto-based prediction market is closing in on a major round led by Founders Fund, three years after settling with the CFTC and exiting the U.S. market. ($)

• 📊 Nasdaq 100 hits new record close: The tech-heavy index, boosted by a revived AI rally, posted its first record high since February, led by gains in Palantir, Micron, Netflix, and DoorDash. ($QQQ, $PLTR, $MU, $NFLX, $CEG, $DASH)

• 📉 Hims & Hers shares rebound as retail investors buy the dip: After losing over 30% from Novo Nordisk’s breakup, HIMS became one of the most bought stocks on Interactive Brokers—outpacing even Apple and Amazon. ($HIMS, $NVO, $PLTR, $AAPL, $AMZN)

• 🔗 Chainlink partners with Mastercard on crypto payments: Mastercard will allow its 3B cardholders to purchase crypto on-chain, deepening its involvement in digital asset infrastructure. ($LINK, $MA)

• 🎮 Microsoft plans new layoffs at Xbox division: The cuts, coming at the end of its fiscal year, will be Xbox’s fourth round since acquiring Activision and follow industry-wide pressures. ($MSFT, $SONY, $EA)

• 🛳 Hilton launches Nile River cruise experience: The Waldorf Astoria-branded ship features 29 luxury suites and reflects Hilton’s 100+ year history of hospitality expansion—not a full cruise industry entry. ($HLT, $MAR, $CCL)

• 💰 Nvidia CEO begins $873M stock sale plan: Jensen Huang sold 100,000 shares worth nearly $15M, marking the first move in a plan to sell up to 6 million shares by year-end. Huang still owns over 800 million shares and holds a net worth of $126 billion. ($NVDA)

• ⚖️ Cigna sues Bristol Myers over Pomalyst monopoly: The insurer alleges Bristol Myers filed sham lawsuits and paid off generics to keep cheaper versions of its $2.7B cancer drug off the market, violating antitrust law. Cigna is seeking triple damages. ($CI, $BMY)

• 🛬 The NTSB will release its findings Tuesday on the Boeing door plug blowout: The results are expected to raise further concerns about 737 Max safety and production quality. ($BA)

AUTONOMY
Waymo Launches Driverless Ride Service in Atlanta as Tesla Begins Robotaxi Rollout

Elon Musk’s robotaxi dream finally hit the streets of Austin this weekend. After years of promises, Tesla quietly deployed 10 to 20 autonomous Model Ys, giving a select group of influencers $4.20 rides around a limited patch of downtown. It was smooth enough for Tesla stock to pop 8%… until footage emerged of the cars awkwardly drifting lanes and rolling through turns. Shares slipped 2.35% as the feds took notice.

The National Highway Traffic Safety Administration confirmed it’s still investigating Tesla’s Full Self-Driving system which, in this case, wasn’t supervised by a human behind the wheel but rather by a front-seat employee riding shotgun.

Waymo Expands Its Lead

Meanwhile, Waymo, Alphabet’s bet on robotaxis, was busy expanding. On Tuesday, it launched in Atlanta via the Uber app, opening up 65 square miles of service. No front-seat handler, no limited invites. Just fully driverless Jaguars roaming Buckhead to Capitol View.

Waymo already logs 250,000 rides a week across Phoenix, San Francisco, Los Angeles, and Austin. With Atlanta now live and Miami plus DC on deck, it’s not just leading the race. It’s lapping it.

Uber’s Not Monogamous

The Uber and Waymo linkup may look cozy, but Uber’s playing the field. It’s also testing with WeRide in Abu Dhabi and has inked deals with a dozen other autonomous startups. Lyft, not to be left behind, is prepping its own driverless launch in Atlanta this summer with May Mobility.

All this comes as analysts predict the robotaxi market could balloon to $17.2 billion by 2029. And while Tesla dreams of scaling with camera-only cars and a Cybercab army, Waymo is already moving people—just not over the speed limit.

Calendar
On The Horizon

Tomorrow

Wednesday isn’t packing much heat—just a fresh report on new home sales. April’s numbers showed buyers still kicking the tires, but this week’s gloomy existing home sales data (hello, slowest May since 2009) suggests the market may be running out of steam.

A couple names could still move the needle: General Mills might show how much inflation-weary shoppers are willing to spend on cereal, while Micron’s results will offer a reality check on AI hype and semiconductor demand.

NEWS
The Daily Rundown

• 💳 BNPL Loans to Hit Credit Scores: FICO announced it will start including Buy Now, Pay Later (BNPL) loans in credit scoring this fall, potentially helping shoppers with thin credit files—but hurting those who miss payments. The move follows Affirm's decision to report loans to Experian and TransUnion, as BNPL use surges past $100 billion.

• ⚖️ Compass Sues Zillow Over Listings: Compass filed an antitrust suit against Zillow, accusing the real estate platform of retaliatory policy changes. Zillow now bars listings marketed for over 24 hours elsewhere, which Compass claims targets its exclusive marketing channel. Zillow dismissed the lawsuit as "unfounded."

• ⚛️ NY to Build First U.S. Nuclear Plant in 15 Years: New York Gov. Kathy Hochul announced plans to construct a new 1-gigawatt nuclear plant to support rising energy demand, especially from AI data centers. The move follows Trump-era rule changes aimed at fast-tracking nuclear project permits.

• 🤖 AI Reshapes Hiring—and Frustrates Applicants: AI is flooding job boards with resumes and screening them too. Candidates are using AI to tailor mass applications, while companies use bots to filter them. A lawsuit against Workday for alleged AI bias is proceeding, raising questions about fairness in digital hiring.

• 🥵 Record U.S. Heatwave Bakes 26 States: A heat dome has pushed temps into the 100s across the U.S., affecting 150+ million people. Heat indices have topped 110°F, straining infrastructure, delaying travel, and posing major health risks. At least 26 states are under heat advisories or warnings.

• ✈️ Supreme Court Allows Fast-Track Deportations: The Supreme Court has temporarily authorized the Trump administration to resume expedited deportations to third countries without hearings. The ruling allows the policy to continue while lower courts assess its legality.

• 🚨 Mistakenly Deported Man Ordered Released: A federal judge ordered the release of Kilmar Abrego Garcia, wrongly deported to El Salvador despite being eligible for release pre-trial. ICE may still re-detain him, and the government has appealed the ruling.

• 💵 Powell Faces Pressure Amid Inflation Worries: Fed Chair Jerome Powell told Congress the central bank is holding rates steady due to inflation concerns tied to tariffs. While some Fed members want a July cut, Powell signaled a cautious approach, saying September is the earliest likely move.

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