GREY Journal Daily News Podcast

The Federal Reserve shifted from expected rate cuts to renewed tightening after a 25 basis point hike in September, the first since 2023. October CPI rose 0.4 percent month over month, with core CPI at 0.3 percent, and nearly 88 percent of traders expect another 25 basis point increase at the December 8 FOMC meeting. Chicago Fed President Austan Goolsbee called recent readings borderline disturbing, while Fed Governor Christopher Waller said a hot report could justify a half point move. OCBC's Chester Liaw expects a 25 basis point hike in December, and PGIM's Robert Sockin projects about 100 basis points of additional increases over the next year. Sockin also warned tariffs could rise through executive action if Democrats control Congress next year, adding to inflation risks. Business owners face higher borrowing and potential import costs, prompting reassessments of debt structures, pricing, and spending.Learn more on this news by visiting us at: https://greyjournal.net/news/

UFORCE, a Ukrainian defense technology company, raised a $700 million Series A at a $6 billion valuation, co-led by Valor Equity Partners and the U.K.'s National Wealth Fund. CEO Oleg Rogynskyy said bookings more than doubled over the past year, from a base of several hundred million dollars, and called the valuation reasonable relative to bookings and revenue. The company plans to scale manufacturing in Ukraine and in allied markets including the United States, Europe, Asia-Pacific, and the Middle East. UFORCE says its NEMESIS drones have flown more than 300,000 combat missions, and its MAGURA naval vessels contributed to the destruction of more than a dozen Russian warships. Rogynskyy said UFORCE already works with several NATO countries and will prioritize Ukrainian military needs. An October report from Dealroom and Resilience Media found startups across NATO and allied countries raised $27.1 billion through September, nearly double the total for all of 2025. Rogynskyy expects autonomous systems to assume more roles now performed by crewed platforms, while crewed assets like the F-35 remain relevant in the near term.Learn more on this news by visiting us at: https://greyjournal.net/news/

Nvidia shares fell 4.3 percent Monday and 5.47 percent Tuesday, then rose 5.3 percent in premarket trading Wednesday. The company hired Wachtell, Lipton, Rosen & Katz to investigate whether secrets or national security were compromised amid allegations reported by CNBC involving CEO Jensen Huang. People familiar told CNBC Huang returned to the office Monday and Tuesday ahead of earnings on November 17. Bank of America outlined three scenarios ranging from contained impact to adverse findings that force an earnings reassessment, according to analyst Vivek Arya. Zacks’ John Blank cited concerns about possible new United States restrictions and further issues. Morgan Stanley removed Nvidia as a top pick after a more than 25 percent decline since October 2, noting Huang’s leadership is crucial to strategy.Learn more on this news by visiting us at: https://greyjournal.net/news/

Investors at the GCV Executive Leadership Forum highlighted how AI is concentrating venture capital in a small group of companies while making exits harder for most startups. PitchBook reported $726.9 billion invested in the first three quarters, with much of it flowing to OpenAI, Anthropic, and other AI leaders. Meghan Reynolds of Altimeter said VC portfolios' net asset values rose more than 100 percent year to date, compared to about 10 percent for public holdings. PitchBook's report found that of 201 US companies once expected to go public by the end of 2025, only 53 have listed, with just 58 now likely to list in the next three years. PitchBook also counts 14,745 US venture-backed companies as unlikely to go public, and investors have reportedly pressed OpenAI and Anthropic on valuations. SpaceX's $60 billion purchase of Cursor shows that M&A remains a viable exit, and Global Venturing's analysis indicates corporate-backed startups are more likely to achieve exits due to access to customers, distribution, and technical expertise.Learn more on this news by visiting us at: https://greyjournal.net/news/

Nikkei Asia reports that Sakana AI is preparing for one of Japan's biggest startup IPOs, signaling a potential shift in how Tokyo finances deep tech. The Tokyo-based lab, founded by David Ha and Llion Jones, focuses on efficient training and foundation models that require sustained capital. A listing on the Tokyo Stock Exchange Growth market would test investor appetite for R&D-heavy issuers. Proceeds would likely fund compute, data, and hiring, with yen weakness increasing the local cost of GPUs. Japan's five-year startup plan targets 10 trillion yen in annual investment by 2027, adding policy support. Founders will watch governance, float size, and lockups, as well as whether domestic liquidity can support multi-year AI buildouts.Learn more on this news by visiting us at: https://greyjournal.net/news/

U.S. stocks rose as oil prices fell, according to Bloomberg, while a decline in Nvidia shares weighed on semiconductors. Lower crude signaled potential relief on freight, plastics, and utilities, easing inflation pressure and informing expectations for Federal Reserve policy. Rates stability can improve valuation multiples and borrowing costs for founders negotiating credit and leases. Sector rotation favored areas benefiting from cheaper energy while chip-sensitive tech lagged, affecting public comps that inform private valuations. Operators can revisit fuel surcharges and input contracts, and AI builders should diversify GPU suppliers and cloud options. Founders should watch inflation data, OPEC meetings, and earnings from Exxon Mobil, Chevron, and Nvidia to adjust plans.Learn more on this news by visiting us at: https://greyjournal.net/news/

OpenAI, Microsoft, Google, Anthropic, Meta, and Amazon are accelerating AI releases that create customer lock-in across cloud and productivity platforms. The White House announced voluntary AI safety commitments in July 2023 and issued an executive order in October 2023 directing agencies to advance standards and testing. The National Institute of Standards and Technology promoted an AI Risk Management Framework, while the Federal Trade Commission and the Department of Justice signaled scrutiny of data practices and partnerships. The European Union advanced the AI Act, the United Kingdom held the AI Safety Summit in November 2023, and the Group of Seven launched the Hiroshima AI process. Nvidia’s GPU supply and hyperscaler data center investments limit the feasibility of broad pauses. Open and semi-open models like Meta’s Llama and Mistral’s releases diffuse capabilities beyond centralized control. Enterprises are piloting copilots and agents while demanding evaluations, reporting, and governance aligned to emerging laws.Learn more on this news by visiting us at: https://greyjournal.net/news/

Defense contractors reported rising backlogs and uneven deliveries as rearmament shifts demand toward munitions, drones, and air defense. Lockheed Martin saw sustained orders in missiles and fire control while F 35 deliveries reflected Technology Refresh 3 changes. RTX’s Raytheon missiles and defense benefited from Patriot, NASAMS, and Stinger demand, while Pratt & Whitney absorbed a multi billion dollar geared turbofan inspection charge. General Dynamics expanded artillery, armor, and Columbia class submarine work, and Huntington Ingalls advanced sustainment programs. The U.S. Army targeted about 100,000 155 millimeter rounds per month by 2025, the European Union pursued one million rounds, and AeroVironment reported fiscal 2024 revenue above $700 million. BAE Systems closed its roughly $5.5 billion purchase of Ball Aerospace, Rheinmetall expanded ammunition capacity, and L3Harris’s Aerojet Rocketdyne deal addressed solid rocket motor constraints. Policy support included the 2024 U.S. supplemental of about $95 billion and NATO members meeting two percent of GDP on defense.Learn more on this news by visiting us at: https://greyjournal.net/news/