STOCK MARKET TODAY
A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.
Here's a full recap:
1. Palantir $PLTR and Nvidia $NVDA expanded their partnership to deliver sovereign AI for the U.S. government and critical infrastructure. The partnership combines Nvidia AI infrastructure and Nemotron models with Palantir’s platforms, allowing agencies to deploy models on proprietary data. Palantir CEO Alex Karp said: “Combining Palantir infrastructure with NVIDIA’s AI and Nemotron models will allow the U.S. government to unleash the full power of LLMs while removing the underlying security risks and rational concerns around proprietary insights migrating into the weights of closed models."
2. Rocket Lab $RKLB announced a definitive agreement to acquire Iridium $IRDM for $54/share in a cash-and-stock deal, implying an enterprise value of roughly $8B. This is a major move because it pushes Rocket Lab beyond space infrastructure and deeper into vertically integrated space communications with recurring, high-margin subscription revenue. Iridium adds a global satellite network, accelerates direct-to-device and space connectivity, and gives Rocket Lab the ability to design, build, launch, operate, and now monetize satellites through long-term communications services.
3. Robinhood $HOOD continues to show strong product momentum. Vlad Tenev, CEO, shared that Robinhood Banking has surpassed $3B in deposits and 200K customers, up from $1.6B and 110K at the end of March. Agentic trading has also seen 50K+ customers open accounts in its first few weeks, with millions of dollars traded daily across equities and options. Robinhood now has 50K+ funded custodial accounts just three months after launch, while 855K+ customers received allocation in the SpaceX IPO through IPO Access.
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