OpenAI turned Sora into a $1 billion Disney (DIS) deal and a TikTok-style social layer for AI video. Then it shut the whole thing down.

At $15 million a day in inference costs and a growing pile of legal threats from rights holders, it turns out OpenAI didn’t learn the evergreen lesson of Silicon Valley: never pivot to video.

— Brooks & Cas

SpaceX could file its IPO prospectus with regulators as early as this week, per a new report, with advisers eyeing a raise of more than $75B. That would rank it among the largest public offerings in history.

Kalshi traders have been busy pricing exactly when Musk's rocket company finally makes the leap. Notably, at the time of writing, the odds of an announcement before April 1 are just 3%.

📈 | Arm Holdings (ARM) unveiled its first in-house chip, projected to net $15B in revenue by 2031.

📈 | Intuitive Machines (LUNR) won a $180M NASA contract to deliver seven science and technology payloads to the moon.

📉 | KB Home (KBH) missed fiscal Q1 earnings and revenue estimates and guided below consensus on current-quarter housing deliveries.

📈 | EchoStar (SATS) rose on a report that SpaceX could file for an IPO as early as this week.

📈 | Chewy (CHWY) guided current-quarter net sales above consensus and raised its full-year sales outlook.

The Rating: Wolfe Research analyst Spencer Hanus raised his price target on Five Below, citing the viral Mystery Dumpling toy trend as the driver of accelerating comp momentum across the retailer's store base.

The Thesis: Five Below is the primary retail beneficiary of the Mystery Dumpling craze, a viral squishy bao-shaped toy some have compared to last year’s Labubu fad. Hanus projects 100-200 basis points of incremental comp growth if demand persists through 2026.

The Follow-On: Google Trends shows "Five Below" search interest up 100% annually in March, and gaining pace each month. Watch whether this toy cycle proves more durable than Labubu.

🕊️ | Iran rejected a ceasefire proposal and issued its own five-point counteroffer, including a demand for recognized sovereignty over the Strait of Hormuz.

⚖️ | A jury found Meta (META) and Google (GOOGL) liable for building addictive platforms that harmed a minor, awarding $3M in damages.

🥇 | The Trump administration repatriated $100M in Venezuelan gold, the first shipment of precious metals between the two countries in more than 20 years.

⛽ | The EPA approved temporary nationwide sales of E15 ethanol-blended fuel in a bid to ease gas prices elevated by the Iran war.

✈️ | Clear Secure (YOU) recorded app downloads tripled last year's pace in March as TSA staffing shortages from the shutdown drove a surge in memberships.

Are you bullish or bearish on CoreWeave (CRWV) over the next 12 months?

▇▇▇▇▇▇ 🐂 Bullish

▇▇▇▇▇▇ 🐻 Bearish

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