Good Morning! Intel had its best day in five years (+16%) after Broadcom and TSMC explore deals that could split up the struggling chipmaker. Trump and Elon’s Hannity interview dropped, with Trump calling Elon the smartest person he’s ever met: "I wanted to find somebody smarter than him. I searched all over. I just couldn't do it."

Walgreens’ buyout talks with Sycamore Partners are heating up, and OpenAI execs are looking to fend off hostile takeovers. Uber-backed Lime saw 30%+ booking growth, eyeing an IPO, while Bill Ackman raised his bid for Howard Hughes, aiming to make it a “modern-day Berkshire Hathaway.”

Plus: KFC moved its headquarters out of Kentucky, and why purpose beats money every time.

Searching for the next Palantir? This data company could be the next big opportunity.

_{SQUEEZ OF THE DAY}

Kim K Takes Over Nike

Nike has been in a rut over the past few years. The legendary company is struggling to keep up with the Lululemon and Vuori’s of the world, causing sales to slip and its stock to fall over 25% in the past year alone.

But Nike may have a Hail Mary up its sleeves - Kim Kardashian.

Nike just announced "NikeSkims", a partnership with Kardashian’s billion-dollar shapewear brand. The collection is built on Skims’ signature style and Nike says they want to “disrupt the global fitness and activewear industry”. Nike wants to launch NikeSkims this spring in the U.S., with a global rollout planned for 2026.

This is uncharted territory for Nike. The company has never co-created an entirely new brand with an outside company. Historically, Nike relies on acquisitions or athlete collaborations (Jordan, Serena, LeBron). So, by changing things up now, Nike isn’t just partnering with Skims; the company is betting big on Kardashian’s ability to build a brand.

Nike has the resources to dominate in the women’s activewear space, but one analyst says the company lost its edge. Nike knows it needs a fresh cultural spark to stay relevant against Lululemon, Alo, and even upstart brands like Hoka and On.

And the timing isn’t random. Nike’s sales fell 8% last quarter, consumer behavior is shifting, and the company recently replaced its CEO to shake things up.

Takeaway: Wall Street noticed, Nike stock jumped over 6% on the news, adding $13 billion in market cap. Meanwhile, Lululemon shares took a hit. Whether Kim Kardashian’s magic is enough to revive Nike or if the brand needs more than celebrity partnerships remains to be seen. Either way, it’s a move we’re closely watching.

_{PRESENTED BY MODE MOBILE}

Data Just Made Palantir Worth $250B - Is This #1 Software Company Next?

Palantir just rocketed to $250 billion by helping companies extract value from user data.

The big data gold rush is here, but the company that stands to profit the most may not be Palantir…

• A new disruption to smartphones gives users a share in the data profits, already facilitating +$325M in earnings and generating +$60M in revenue.

• With 32,481% revenue growth, this company is gearing up for a possible Nasdaq listing (stock ticker: $MODE), and pre-IPO shares are available at only $0.26/share.

It’s a $1 trillion industry, and their disruptive EarnPhone is now being distributed by Walmart and Best Buy.

They have received over 90% of their February 20th $20M investment goal. 

The time to secure your spot at $0.26/share is now!

_HEADLINES

Top Reads

• Trump, Musk pull curtain back behind relationship (Full Interview)

• Senate confirms Lutnick to lead Trump's Commerce Department (Axios)

• Intel shares pop on report Broadcom and Taiwan Semi could break up company (CNBC)

• A team from SpaceX is being brought in to overhaul the FAA’s air traffic control system (Verge)

• Protests, Musk's tanking popularity hit Tesla at key time (YF)

• Musk's DOGE asks for savings tips from the public (Fox)

• Walgreens’ Sycamore Partners takeover still alive (YF)

• Delaware shareholder suits targeted (CNBC)

• ChatGPT builds takeover defense (YF)

• Trump administration keeps Biden’s tough rules for merger reviews (CNBC)

• Uber-backed Lime posts over 30% bookings growth as it eyes IPO (YF)

• KFC moves U.S. headquarters from Kentucky to Texas (CNBC)

• Southwest to lay off 15% of corporate staff (Fox)

• Bill Ackman raises bid for Howard Hughes (CNBC)

• Investors haven’t been this pessimistic about stocks since 2023 (WSJ)

• Homebuilders raise alarm over tariffs as sentiment falls to 5-month low (CNBC)

• DOGE's moves threaten fragile payments system (Axios)

• Vanguard tops SPY in ETF rankings (WSJ)

_{CAPITAL PULSE}

Markets Rundown

Stocks Hold Steady as Earnings Strength Supports Markets

U.S. stocks ended Tuesday little changed, with the S&P 500 up 0.2% while the Dow and Nasdaq hovered near the flatline. Energy and materials sectors led gains, supported by rising oil prices.

Overseas, Asian and European markets posted modest gains, helped by positive economic sentiment data from Germany. Bond yields moved higher, with the 10-year Treasury yield climbing to 4.55% and the 2-year yield reaching 4.3%. 

Despite early-year volatility, strong corporate earnings have kept markets on solid footing. Nearly 79% of S&P 500 companies have reported fourth-quarter results, with 76% exceeding expectations.

Earnings per share growth for the S&P 500 is on track for 17% in Q4, well above initial projections. Looking ahead, continued earnings momentum and a stable economic backdrop are expected to support equity markets, though volatility may persist.

Movers & Shakers

• (+) Intel ($INTC) +16% after a report of a potential break-up of the chipmaker.

• (+) Walgreens Boots Alliance ($WBA) +14% because of renewed takeover talks with Sycamore.

• (–) Fluor ($FLR) -8% after the engineering and construction company missed earnings.

Private Dealmaking

• xAI, Elon Musk’s AI business, in talks to raise $10 billion

• Figure, a robotics startup, in talks to raise, $1.5 billion

• The Sherwin-Williams Company acquired Suvinil for $1.2 billion

• Macquarie and BCI will take Renewi private for $891 million

• Light & Wonder acquired Grover Gaming’s charitable gambling business for $850 million

• Abridge, a generative AI startup, raised $250 million

For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.

_{BOOK OF THE DAY}

The Technological Republic

From the co-founder of Palantir.

Silicon Valley has lost its way.

Our most brilliant engineering minds once collaborated with government to advance world-changing technologies. Their efforts secured the West’s dominant place in the geopolitical order. But that relationship has now eroded, with perilous repercussions. 

Today, the market rewards shallow engagement with the potential of technology. Engineers and founders build photo-sharing apps and marketing algorithms, unwittingly becoming vessels for the ambitions of others.

This complacency has spread into academia, politics, and the boardroom. The result? An entire generation for whom the narrow-minded pursuit of the demands of a late capitalist economy has become their calling.

In this groundbreaking treatise, Palantir co-founder and CEO Alexander C. Karp and Nicholas W. Zamiska offer a searing critique of our collective abandonment of ambition, arguing that in order for the U.S. and its allies to retain their global edge—and preserve the freedoms we take for granted.

The software industry must renew its commitment to addressing our most urgent challenges, including the new arms race of artificial intelligence. The government, in turn, must embrace the most effective features of the engineering mindset that has propelled Silicon Valley’s success.

Above all, our leaders must reject intellectual fragility and preserve space for ideological confrontation. A willingness to risk the disapproval of the crowd, Karp and Zamiska contend, has everything to do with technological and economic outperformance.

“Fascinating and important.”

_{DAILY VISUAL}

Jobless Claims for DC Rise Amid DOGE Push

_{PRESENTED BY KALSHI}

All Aboard the DOGE Express

Trump and Elon’s Department of Government Efficiency (D.O.G.E.) has dominated the conversation in 2025, and this train isn’t slowing down.

From IRS audits to a D.C. real estate fire sale and even a rumored treasure hunt (gold audit) at Fort Knox, the newest government initiative is leaving no stone unturned. But the real question is: how much will they actually cut?

Oval Office clips show Elon floating a $1 trillion reduction in spending. But the markets? They’re giving it just a 10% chance of happening.

If you think you know where this is headed, Kalshi lets you put your money where your predictions are. As the only legal prediction market in the U.S., you can trade on D.O.G.E. initiatives, government policies, and more.

_{DAILY ACUMEN}

5-Hour Rule

The 5-hour rule is a simple yet powerful habit practiced by some of the world's most successful people, including Benjamin Franklin, Elon Musk, and Oprah Winfrey.

It involves dedicating one hour a day, five days a week to deliberate learning through reading, experimenting, or reflecting.

Despite our busy lives, most of us have a few free hours, and how we use them determines our growth.

Instead of wasting time on mindless activities, investing in continuous learning sharpens skills, fosters creativity, and builds discipline—turning ordinary days into stepping stones for extraordinary success.

_{ENLIGHTENMENT}

Short Squeez Picks

• Why purpose beats money every time

• 31 ways to get your life together

• 6 cheap and easy things to be happier today

• Why you should try a run club

• How to be more ‘time affluent’ this year

_{MEME-A-PALOOZA}

Memes of the Day