Smartkarma Daily Briefs

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• Amphenol is an industrial giant in the business of making connectors, sensors, and interconnect systems for various electronic applications

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• Broadcom shares surged nearly 10% after the semiconductor and software giant announced a landmark deal with OpenAI to build and deploy 10 gigawatts of custom AI accelerators.
• Under this multibillion-dollar agreement, OpenAI will design the chips while Broadcom provides connectivity and Ethernet components—a strategic collaboration set to roll out from late 2026 through 2029.
• This announcement came just weeks after a broader AI spending spree by OpenAI, including contracts with Oracle, Nvidia, and AMD.

• Bloom Energy’s second quarter 2025 results highlighted both robust growth and certain areas of strategic focus.
• The call was led by CEO K.R. Sridhar, who shared that this was the most profitable second quarter in the company’s history.
• Bloom Energy is seeing increased demand driven by the shift towards AI and data center needs for reliable and rapidly deployable power solutions.

• TeraWulf has captured Wall Street’s attention with a high-stakes move to raise $3.2 billion via senior secured notes due in 2030—marking one of the largest bond deals relative to market capitalization in 2025.
• The capital will finance the rapid buildout of its Lake Mariner data center in upstate New York, which is now tied to a landmark hyperscale hosting deal with Fluidstack, underpinned by Alphabet’s Google.
• The bond offering, representing more than half of TeraWulf’s $5.7 billion market cap, comes on the heels of transformative transactions that position the company at the center of next-gen AI infrastructure.

• Global oil demand growth remains Asia-led. However, surging non-OPEC supply and swelling inventories threaten price stability, even as China’s stockpiling and resilient consumption cushion downside pressure.
• EIA, OPEC, and IEA see diverging oil market paths, with non-OECD demand strong but excess supply, high inventories, and soft gas prices signalling a market leaning toward surplus.
• While Asia powers demand growth, mounting supply from the U.S. and OPEC+, and elevated inventories weigh on prices, keeping crude markets stable yet tilted bearish into 2026.

• Honeywell (HON) will spin off 100% of its Advanced Materials business, Solstice (SOLS), on October 30, 2025. 
• Solstice is a leading global supplier of environmentally sustainable refrigerants, electronic materials, and specialty chemicals.
• The business has historically grown at roughly a 4% CAGR and is positioned to benefit from several long-term tailwinds — including semiconductor expansion, data center growth, industrial onshoring, and regulatory phase-downs of high-GWP refrigerants.

• Navitas Semiconductor has become one of Wall Street’s most explosive semiconductor stories of 2025, surging over 60% in just four days after announcing deeper collaboration with Nvidia on next-generation AI power infrastructure.
• Following a 21% gain on Monday and another 17% on Tuesday to $11.63, the gallium nitride (GaN) and silicon carbide (SiC) chipmaker has cemented itself as a critical player in the AI hardware supply chain.
• The company’s new power devices will enable Nvidia’s planned 800-volt data center architecture—designed to support megawatt-scale AI computing platforms with superior efficiency and scalability.

• Stellantis has announced the most significant investment in its corporate history—a $13 billion commitment to its U.S. operations aimed at expanding domestic vehicle production by 50% and launching five new models over a four-year span.
• This bold initiative, unveiled by newly appointed CEO Antonio Filosa, marks a pivotal moment for the automaker as it seeks to counter steep U.S. and European sales declines and reverse its sliding market share.
• Stellantis sold 1.3 million vehicles in the U.S. in 2024, with nearly 600,000 of them imported.

• Crude oil futures were lower Thursday as a sharp retreat in US crude runs unwound earlier gains stemming from US President Donald Trump’s claims he had persuaded India’s Prime Minister to halt purchases of Russian crude.
• Front-month Dec25 ICE Brent futures were trading at $61.18/b (2013 BST) versus Wednesday’s settle of $61.91/b, while Nov25 NYMEX WTI was at $57.60/b against a previous close of $58.27/b.
• Trump said late Wednesday that Indian PM Narendra Modi had pledged to stop buying oil from Russia, while the President said he would seek a similar commitment from China.

• Intel Corp (INTC US) will hold its earnings call on October 23. The recent upside in Intel’s share price is encouraging, but whether this trend can continue remains to be seen.
• U.S. President Trump’s investment in Intel Corp (INTC US) has so far generated about a 48.5% return, which raises the question — what’s next?
• That said, we continue to believe that Intel Corp (INTC US) must demonstrate real performance improvements before claiming a full turnaround.