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ADDX GO Market Morning Wrap - 21st Feb

Go Wire
Go Wire
February 21, 2025
GoGPT Summarizes Articles

Stock Market

Global markets saw broad declines on Thursday. The Nasdaq dropped 0.47% to 19,962.36, and the S&P 500 fell 0.43% to 6,117.52. Russell 2000 slid 0.91% to 2,261.74, while the Dow Jones Industrial dropped 1.01% to 44,176.65. In Asia, the Nikkei 225 lost 1.24% to 38,678.04, and Hang Seng Index dropped 1.60% to 22,576.98. Sensex in India fell 0.27% to 75,735.96, and NIFTY 50 declined 0.086% to 22,913.15. KLCI in Malaysia dropped 0.20% to 1,577.67, and IDX Composite in Indonesia decreased 0.10% to 6,788.04. STI in Singapore saw a smaller decline, falling 0.17% to 3,927.51.

Key Events

  • $GME Ryan Cohen Raises Alibaba Stake to $1 Billion：GameStop (GME) CEO Ryan Cohen, often dubbed the "King of Meme Stocks," has reportedly increased his stake in Alibaba (BABA) to approximately $1 billion, equivalent to around 7 million shares. According to sources familiar with the matter, this move underscores Cohen's confidence in China's long-term economic growth.
  • ChatGPT Surpasses 400 Million Weekly Active Users：OpenAI's COO revealed that as of February, ChatGPT has reached 400 million weekly active users, marking a 33% increase since December. Enterprise adoption has surged as well, with the number of paid business users doubling from 1 million in September to 2 million. Additionally, usage of OpenAI’s developer tools and inference model, o3, has grown significantly. CFO Sarah Friar projected that OpenAI could achieve $11 billion in revenue this year.
  • $NVDA Nvidia Unveils AI Platform for American Sign Language (ASL) Learning: Nvidia introduced a new AI-powered platform, Signs, designed to teach and enhance American Sign Language (ASL) communication. The platform is building a verified dataset to support both ASL learners and AI developers working on sign language-based applications.
  • Figure AI Eyes $15B Funding at a $39.5B Valuation: Humanoid robotics leader Figure AI is in talks to raise $1.5 billion at a staggering $39.5 billion valuation—15 times higher than its $2.6 billion valuation from last year's $675 million funding round. The company aims to produce and deploy 100,000 robots in the coming years. Meanwhile, another robotics startup, Field AI, is also seeking funding at a $2 billion valuation, up from just $500 million last summer.
  • $BABA Alibaba Reports 8% Revenue Growth in Q3, Cloud Business Surges: Alibaba (BABA) posted an 8% YoY revenue increase in Q3, reaching ¥280.15 billion, with adjusted net profit rising 6% to ¥51.07 billion. AI-driven expansion fueled Alibaba Cloud’s 13% revenue growth. CEO Wu Yongming announced that over the next three years, Alibaba's investments in AI and cloud infrastructure will surpass the total spent in the past decade.
  • $BILI Bilibili Stock Jumps 8% After Strong Earnings Report: Bilibili (BILI) shares climbed over 8% after reporting a 19% YoY increase in 2024 revenue, totaling ¥26.83 billion. Q4 revenue grew 22% to ¥7.73 billion, with advertising revenue up 24% to ¥2.39 billion and gaming revenue soaring 79% to ¥1.8 billion. The platform’s high-margin businesses drove a 68% YoY increase in gross profit, marking its 10th consecutive quarter of improving gross margins, now at 36.1%.
  • $U Unity Surges 30% Post-Earnings Despite Revenue Decline: Unity Software (U) stock skyrocketed over 30% to $28 despite Q4 revenue declining 25% YoY to $457 million, slightly above analysts’ expectations of $433 million. The company’s Q4 net loss per share narrowed to $0.30 from $0.66 a year ago, beating analysts' forecast of a $0.37 loss. For Q1 2025, Unity projects revenue between $405 million and $415 million, falling short of the $439.5 million consensus estimate.
  • $MSFT Microsoft Prepares Server Capacity for GPT-4.5 and GPT-5: Microsoft engineers are gearing up to expand server capacity for OpenAI’s upcoming GPT-4.5 and GPT-5 models. Reports indicate that GPT-4.5 could be deployed as early as next week.

Forex

The U.S. Dollar Index closed down 0.73% at 106.371.

Key Events

  • Fed Official Expects Two Rate Cuts in 2024 Amid Uncertainty: Atlanta Fed President Raphael Bostic stated that he expects two 25-basis-point rate cuts this year, though uncertainty remains high due to potential impacts from trade and immigration policies. Bostic, who does not have a voting role in 2024, noted that businesses are concerned about tariffs, regulatory changes, and immigration policies affecting economic forecasts.

Cryptocurrency

Bitcoin advanced 2.46% to $98,498.34, marking its highest level since February 4, 2025.

Key Events

  • Crypto Adoption Grows 13% in 2024; Japan Eyes Regulatory Easing: A report from Crypto.com shows global cryptocurrency adoption increased by 13% in 2024. Meanwhile, Japan’s Financial Services Agency (FSA) is considering easing crypto regulations, including approving Bitcoin ETFs and reducing tax rates, aiming to boost investor protection and market development.
  • Pi Network Mainnet Launch Sees Volatility: The long-awaited Pi Network Mainnet launch finally arrived on February 20, sparking a volatile price movement. Pi Coin briefly surged to $1.97 within the first hour before retreating to $1.80 on OKX and $1.70 on Bitget. The token may soon receive additional exchange listings, as Binance has polled its community about adding Pi.
 

Market Events and Most Anticipated Earnings Releases

#Market Morning Wrap#$Nvidia Corp(NVDA)#$Alibaba Group Holding Limited American Depositary Shares each represents eight Ordinary Shares(BABA)#$Bilibili Inc. American Depositary Shares(BILI)#$Unity Software Inc.(U)#$Microsoft Corp(MSFT)#$GameStop Corp. Class A(GME)