Tonight’s Highlights | Musk’s Surprise Davos Appearance, Winter Storm Continues to Drive Natural Gas Prices Higher

With the U.S.-Europe Greenland conflict temporarily cooling after Trump announced a so-called “framework agreement,” U.S. stock futures extended their rebound Thursday.

 

As of press time: Nasdaq 100 futures (2603 contract) +0.92%, S&P 500 futures +0.59%, Dow futures +0.33%.  

 

(Chart: S&P 500 Index, source: TradingView)

 

Meanwhile, a powerful winter storm impacting the U.S. pushed NYMEX natural gas futures up over 8% Thursday after surging 29% Wednesday. International oil prices weakened after U.S. Energy Secretary Chris Wright said Thursday that “the world needs to more than double oil production.”

 

World’s richest man Elon Musk will make his first-ever appearance at the World Economic Forum, joining a session at 11:30 p.m. Beijing time tonight. His attendance was added last-minute.  

 

Given Jensen Huang’s appearance yesterday sparked a wave of AI concept stock hype, Musk’s surprise presence is worth close attention from tech investors.

 

Earlier reports indicated Intel and AMD’s full-year 2026 server CPU capacity is essentially sold out. Facing extreme supply-demand imbalance, both companies plan to raise server CPU prices by 10–15%.

Other Headlines

BitGo Set to List on NYSE Tonight  

 

BitGo Holdings will become the first crypto company to list on U.S. exchanges in 2026. Per a Wednesday filing, the crypto custodian priced its IPO at $18 per share, above the previously announced $15–17 range.  

 

BitGo also serves as custodian and infrastructure provider for World Liberty Financial’s USD1 stablecoin, co-founded by Donald Trump Jr. and Eric Trump.

 

Kioxia: NAND Supply Tightness Expected to Last at Least Through 2027  

 

Japanese memory giant Kioxia surged 8.55% Thursday to a new all-time high. The company warned that storage market tightness driven by AI investments will persist for at least the next two years. Worse still, consumers will have to pay higher prices for the same products.

 

U.S. Insurer Launches “Autonomous Vehicle Insurance” — Tesla FSD Users Get 50% Premium Discount  

 

Publicly listed insurer Lemonade announced an “autonomous vehicle insurance” product, offering a stunning 50% premium discount to Tesla FSD owners. The company said discounts will grow larger as FSD becomes increasingly safe.

 

SpaceX Gen-2 Starlink System Possibly Slated for 2027  

 

In a recent FCC filing, SpaceX mentioned its cellular Starlink service and indicated a rough timeline for its second-generation system. Satellite policy VP David Goldman and two other executives wrote: “This is just the beginning: SpaceX has also invested in spectrum that will enable a significantly improved second-generation direct-to-device system in 2027.”

 

Ubisoft Suffers Largest Drop in History  

 

As of press time, Ubisoft shares plunged over 30% in Europe. The company announced a major restructuring, closing multiple studios and canceling six games including a Prince of Persia: The Sands of Time remake, while delaying seven others. Ubisoft said it expects a €1 billion operating loss for FY 2025–2026, including €650 million in one-time impairments.

 

Canadian Fusion Firm General Fusion Goes Public via SPAC  

 

Pre-market Thursday, Canadian fusion company General Fusion announced a reverse merger with SPAC Spring Valley Acquisition Corp. III, valuing the combined entity at ~$1 billion. Proceeds will fund its magnetized target fusion system, targeting a commercial power plant in the mid-2030s.