Consolidation-ville or correction-ville?

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Today’s Links

FTAlphaville with a cheeky FAQ on the Nvidia-OpenAI “deal”, which is really a framework with painfully few details for the most important things to understand about whatever it is these two companies have agreed.

This link is thanks to my network of great contacts in the industry, a substack from Japan Optimist on the underappreciated hard power potential that Japan’s companies offer, especially as opposed to the US’ legacy bloated and underperforming platforms and initiatives.

Coverage of the Freeport McMoRan operated (and majority Indonesian government-owned) Grasberg mine disaster, which could upset the global balance of copper supply and demand as it represented a material percentage of global production.

Politico had access to a Republican memo suggesting that significant firings of government employees may be carried out in the event of a government shutdown and Democrats may not be cowed by this threat.

Chart of the Day - uniQure (QURE)

What an uplifting story as noted on today’s podcast that it appears this Dutch-US company (Ask ChatGPT the history of this company - fascinating stuff) has demonstrated the ability to slow the progression of the awful Huntington’s disease by perhaps 75%. It true, it would mean that current sufferers from the disease have the prospect of seeing its progression slowed dramatically, while those who carry it but are not yet affected by it may not suffer meaningful symptoms before dying of other causes related to old age. The stock was up nearly 250% after a long walk in the desert after a 2017 refocusing of their business on Huntington’s disease back in 2017, several years after being the first company in the world to have its gene therapy approved in 2012 - a drug used to create a very rare disorder that wasn’t a commercial success. Looking back through the news archive, the drug already showed some promise for the first time in early trials back in mid-2024 before this latest news hit.