Hollywood just got a plot twist Wall Street can’t ignore. Warner Bros. Discovery shares exploded nearly 30% after word spread that Paramount Skydance (chaired by David Ellison, son of Oracle’s Larry Ellison, now second richest man in the world again) is lining up a majority cash bid.

Meanwhile, China told Mexico to “be extremely cautious” and to “think twice” before raising tariffs on Chinese electric vehicles.

On the corporate front, Adobe is flexing its AI muscles with $5 billion in recurring revenue from new features, Kroger is cashing in as Americans swap restaurants for grocery aisles, and Microsoft quietly inked a deal with OpenAI that could reset the entire AI power structure.

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Stocks sprinted to fresh records Thursday as inflation and jobs data set the stage for a Fed rate cut.

Adobe lifted its outlook, projecting up to $6.13 billion in quarterly sales as AI features drive growth. Annual recurring revenue from AI products has topped $5 billion, sending shares up 4% after hours, though they remain down 21% year-to-date amid pressure from Canva and other AI-native rivals.

Gemini’s IPO launches today. We’ll be watching to see if it’s a repeat of crypto exchange Bullish’s debut or not. $GEMI’s IPO is over 20x oversubscribed, and we’re expecting either fireworks or a dumpster fire, but not a middle-of-the-road kind of market reaction to the stock.

Kroger stock popped after an earnings beat and higher sales guidance. Management credited consumers trading restaurants for groceries, with comparable sales now expected to climb as much as 3.4%. With Walmart and Amazon tightening competition, Kroger is betting on e-commerce efficiency and value positioning to defend margins.

Warner Bros. Discovery stock spiked nearly 30% after reports that Paramount Skydance, backed by the Ellison family, is preparing a majority cash bid. David Ellison, son of Oracle co-founder Larry Ellison, chairs the newly merged Paramount Skydance.

The DOJ sued Uber on Thursday, accusing the company of systemic discrimination against passengers with disabilities. The complaint cites drivers refusing riders with service animals or stowable wheelchairs, charging improper cleaning and cancellation fees, and even insulting passengers.

Microsoft and OpenAI signed a non-binding deal to reset their partnership, paving the way for OpenAI’s restructuring into a for-profit public benefit corporation. The nonprofit board will retain control through a $100 billion stake, while Microsoft remains a key partner.

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Netley raised $315 million for a strategy targeting private equity secondaries. The fund will focus on buying stakes from limited partners seeking liquidity, expanding the firm’s reach in the secondary market.

Although you have to be an accredited investor to participate in private equity, meaning that you need either a $1 million net worth, an income of $200,000 for two years if single ($300,000 if married), or a special license, you don’t need those things to participate in crowdfunding.

That’s why we often include a crowdfunding project of the day in our newsletter (see below for an opportunity we found). None of our crowdfunding opportunities are sponsored unless directly stated otherwise; they’re just interesting projects we found.

“73%+ of the votes believe it will end higher so could that mean a melt up is coming, particularly with 21.1% believing it will end at 7,200 or higher?”

Chronic respiratory diseases rank third in global deaths. Health Care Originals built an AI wearable that listens to lung sounds and detects early warning signs before attacks spiral. With $5.8 million in contracted annual recurring revenue and backing from venture funds, they’re raising capital from the public on Wefunder. Invest before the round closes on September 28 →

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Cheers,
Brandon & Blake of Invested Inc