OpenAI + Google: New BFFs?

OpenAI + Google: New BFFs?

In a deal apparently concluded in May, OpenAI plans to use Alphabet’s [GOOGL] Google cloud computing capabilities to train its artificial intelligence (AI) models. That an agreement was reached despite the threat ChatGPT poses to Google’s search dominance underscores the massive computing demand underpinning the AI boom, Reuters reported. The move may also be part of the Sam Altman-run firm’s attempts to reduce its dependency on Microsoft [MSFT]. Back in May, Google CEO Sundar Pichai suggested the AI race may not be a winner-takes-all scenario.

Switch 2 Sales Shatter Records

With the wider gaming sector in the doldrums since the end of the Covid-19 pandemic, Nintendo [NTDOY] has scored a win with the Switch 2, its first new console in eight years. The company has sold 3.5 million units in just four days, already surpassing the 2.7 million units sold of the original Switch in its first month in 2017. Nintendo shares hit a record high ahead of the console’s release on June 5, but have since fallen 3% in Tokyo. Matching demand could pose a challenge, especially since the device is primarily manufactured in China and could be hit by global tariffs. 

Snap Throws Down AR Gauntlet 

In a move to challenge Meta [META] and Apple [AAPL] in the growing “wearable computing” space, Snap [SNAP] announced plans Tuesday to launch its ‘Specs’ smart glasses for consumers in 2026. The augmented-reality headset, which would beat Meta’s Artemis to market and reportedly integrates AI image recognition and the ability to display high-resolution 3D images, is an upgrade of Snap’s first camera glasses, released a decade ago. 

German Start-Up Sets Sights on Nuclear Fusion

Munich-based Proxima Fusion has raised €130m from investors to develop a device capable of nuclear fusion, which it plans to deploy in working commercial power plants by the 2030s. The funding will be used to develop superconducting magnets capable of containing plasma to fuse atoms together, thus generating massive amounts of energy. In April, Oklo’s [OKLO] CFO Craig Bealmear joined OPTO Sessions to discuss why more governments are turning to nuclear to boost energy independence.

Salesforce Blocks Rivals’ Access to Slack Data

As AI firms attract increased scrutiny over the handling of data, Salesforce [CRM] has blocked software rivals from searching or storing messages on its Slack workplace messaging app, The Information reported. In a May 29 statement, Salesforce said it was “reinforcing safeguards around how data accessed via Slack APIs can be stored, used, and shared.” Since the statement, competitors such as Glean are reportedly unable to index, copy or store the data they access via Slack on a long-term basis.

Time to Be Bullish?

The latest in a wave of crypto-related announcements amid wider optimism in the digital assets space, Peter Thiel-backed cryptoasset exchange Bullish Global has filed for an IPO in the US, the Financial Times reported Wednesday. Established in 2021, the firm purchased media outlet CoinDesk in 2023 and could benefit from US President Donald Trump’s pro-crypto agenda.

These Stocks Could Be Boosted by NATO’s 5% Defense Spending

The failure of several NATO member states to meet the 2% threshold of defense spending has been a bone of contention for US President Donald Trump. Now, NATO is close to hiking the target to 5% under pressure from the Trump administration. Amid increasing geopolitical instability, OPTO identified L3Harris [LHX], Northrop Grumman [NOC] and Palantir [PLTR] as three stocks that could benefit from increased military spending, and examined the bull and bear cases for each.