GameStop (GME) CEO Ryan Cohen is pursuing a “very, very, very big” acquisition of an undervalued public consumer company, which he claims could be “transformational” for both GameStop and capital markets. Speaking to CNBC, Cohen suggested the deal could elevate GameStop’s market value to several hundred billion dollars—up from its current $10.7 billion market cap as of February 2, 2026.

Cohen, who took over in 2023, has already cut costs, eliminated long-term debt, and built $8.8 billion in cash reserves. GameStop reported Q3 2025 net income of $77.1 million, up from $17.4 million a year earlier, despite revenue falling to $821 million from $860.3 million. The company trades at a forward P/E of 24x. Cohen stands to receive 171.5 million stock options if GameStop hits a $100 billion market cap and $10 billion in cumulative EBITDA. No analysts currently cover the stock.

Singapore’s stock market is poised to halt its recent slide on February 3, 2026, as investor sentiment stabilizes following a sharp selloff in January. The Straits Times Index (STI) rebounded in early trading, supported by gains in financial and industrial sectors.

Analysts cite improved regional trade data and a pause in U.S. interest rate hikes as key catalysts for the turnaround. The STI had declined over 5% in the prior month amid global growth concerns and volatility in Chinese markets. Trading volumes rose 12% above the 30-day average, signaling renewed institutional interest.

Apollo Global Management chief economist Torsten Slok warned on February 3, 2026, that yen carry trades face significant unwinding risk, citing volatile shifts in speculative futures positions that could amplify market moves.

Slok noted that while yen-funded carry trades remain widespread, recent sharp swings in speculative positioning suggest rapid deleveraging is possible. According to Commodity Futures Trading Commission (CFTC) data, net yen short positions held by speculators have fallen to 70,552 contracts—the lowest level in a month—indicating reduced bearish bets.

However, Slok highlighted a divergence with Bank for International Settlements (BIS) data, which shows yen lending to offshore centers and non-bank borrowers remains elevated. The yen carry trade—borrowing low-yielding yen to invest in higher-return assets—has drawn renewed attention amid rising market volatility. Year-to-date through February 3, 2026, the yen has gained about 1% against the U.S. dollar, fueling speculation of potential joint intervention by Japanese and U.S. authorities to curb further depreciation.

SpaceX acquired xAI on February 2, 2026, combining two Elon Musk-led companies in a deal that creates the world’s most valuable private company, valued at over $1.2 trillion, according to Bloomberg. The merger aims to develop AI data centers in space, with Musk claiming space is “the only logical solution” for scaling resource-intensive AI compute.

Musk projected that within two to three years, space will offer the lowest-cost AI computing infrastructure. The move precedes SpaceX’s anticipated IPO later in 2026. xAI, valued at over $200 billion, has faced scrutiny over its Grok AI model, including investigations by U.S. state attorneys general and the European Union following deepfake image controversies. Tesla has also invested in xAI and integrates its technology. SpaceX operates more than 9,000 Starlink satellites and holds key NASA contracts.

SpaceX has acquired xAI—the parent of social media platform X and Grok AI—in a $1.25 trillion transaction, consolidating Elon Musk’s key assets ahead of SpaceX’s anticipated 2026 IPO. Musk cited space-based data centers as essential to scaling AI sustainably, arguing terrestrial infrastructure cannot meet future energy demands.

The deal enables Musk and early investors, including Oracle’s Larry Ellison, to partially exit their $44 billion 2022 acquisition of Twitter. xAI reported a $1.46 billion net loss in Q4 2025 and burned $7.8 billion in the first nine months of the year. Regulators in the UK and EU are investigating Grok over non-consensual image generation. Analysts warn the merger may dilute SpaceX’s appeal, as xAI lags in a cash-intensive AI market dominated by rivals like OpenAI.

Nvidia (NVDA) shares fell in early trading on February 3, 2026, amid reports that its proposed $100 billion investment in OpenAI has stalled, raising investor concerns about the deal’s viability. According to The Wall Street Journal, internal skepticism persists over whether the agreement will proceed.

Palantir (PLTR) surged 6% in after-hours trading after reporting Q4 2025 revenue of $1.41 billion—up 70% year-over-year—and full-year revenue of $4.48 billion, both exceeding expectations, driven by strong AI and U.S. defense demand. Meanwhile, Robinhood (HOOD) plunged 9.6% as weakening crypto markets and fading retail trading activity spooked investors. Micron (MU) rose over 5% on AI-driven memory demand but faces technical warning signs reminiscent of the 2000 dot-com bubble. Morgan Stanley also warned that a potential Kevin Warsh-led Fed could heighten U.S. Treasury volatility due to reduced policy guidance.

SpaceX has completed its acquisition of artificial intelligence startup xAI, merging its rocket and satellite operations with the developer of the Grok chatbot to form a combined entity valued at $1.25 trillion, Elon Musk announced on February 2, 2026. The deal integrates two of the world’s largest private companies—SpaceX, previously valued near $800 billion, and xAI, valued at $230 billion in January 2026—and positions Musk to vertically integrate AI, space infrastructure, and real-time communication platforms.

Musk stated the merger aims to create “the most ambitious vertically integrated innovation engine on and off Earth,” asserting that AI computation will achieve lowest costs in space within two to three years. xAI will operate as a wholly owned SpaceX subsidiary, though financial terms were not disclosed. SpaceX still plans an IPO later in 2026, potentially raising up to $50 billion. The transaction may face regulatory scrutiny due to SpaceX’s federal contracts with NASA and U.S. defense agencies, as well as governance concerns over Musk’s overlapping roles across Tesla (TSLA), Neuralink, and X.

Google Cloud and Liberty Global have signed a five-year strategic partnership to integrate Google’s Gemini AI models and cloud tools across Liberty’s European telecom operations, Reuters reported on February 3, 2026. The deal aims to enhance consumer services like AI-powered search on Liberty’s Horizon TV platform and automate customer support.

Liberty Global, which serves 80 million fixed and mobile connections in Europe through brands including Virgin Media O2 and VodafoneZiggo, will also distribute Google hardware such as Pixel devices and smart-home products. The collaboration expands existing ties and includes plans to improve network reliability, pursue autonomous operations, and potentially leverage spare data center capacity via Liberty’s AtlasEdge joint venture. The companies will jointly target small businesses with cloud, cybersecurity, and AI offerings while exploring ways to monetize telecom data under strict privacy standards.

SpaceX has acquired xAI, merging Elon Musk’s two private companies into what is now the world’s most valuable private firm, the companies announced on February 2, 2026. The deal combines SpaceX—valued at $800 billion as of December 2025—and xAI, valued at $230 billion in January 2026, according to PitchBook.

Musk stated the merger aims to shift AI computing to space, citing terrestrial data centers’ unsustainable power demands. SpaceX recently filed with the FCC to launch 1 million satellites for solar-powered orbital data centers. Musk estimates space-based AI compute will become the lowest-cost option within two to three years. The combined entity could pursue a public listing, potentially valuing it near $1.5 trillion. Investors including Fidelity and Qatar Investment Authority backed xAI’s $20 billion January fundraising round.

U.S. stock futures rose modestly on February 2, 2026, extending gains from a strong start to the month, with S&P 500 futures (ES=F) up 0.2% and Nasdaq 100 futures (NQ=F) climbing 0.4%. Dow futures (YM=F) held near flat after the index surged 500 points earlier in the day.

AI-related stocks showed mixed performance: SanDisk (SNDK) gained, while Nvidia (NVDA) dropped nearly 3% amid reports OpenAI is delaying a $100 billion infrastructure deal due to concerns over Nvidia’s chips. Bitcoin stabilized after hitting a multi-month low, and gold (GC=F) and silver (SI=F) futures declined following steep losses the prior week. Over 100 S&P 500 companies, including AMD, Amazon (AMZN), and Alphabet (GOOG), are set to report earnings this week. Palantir (PLTR) jumped 6% in after-hours trading on strong Q4 results. The closely watched U.S. jobs report is now postponed due to a partial government shutdown.

Palantir Technologies (PLTR) reported fourth-quarter revenue of $1.41 billion for fiscal 2025, up 70% year-over-year and ahead of the $1.33 billion consensus estimate, driven by surging demand for its AI tools from U.S. government agencies and commercial clients. Adjusted EPS came in at $0.25, beating expectations of $0.23. The stock rose more than 6% in after-hours trading on February 2, 2026.

Full-year revenue reached $4.48 billion, with Q4 net income soaring to $608 million ($0.24 per share) from $79 million ($0.03 per share) a year earlier. U.S. government revenue grew 66% to $570 million, while commercial revenue more than doubled to $507 million. The company forecasts Q1 2026 revenue of $1.532–$1.536 billion, well above the $1.32 billion estimate, and full-year 2026 revenue of $7.182–$7.198 billion versus a $6.22 billion consensus.

As the U.S. enters the “Great Wealth Transfer,” with $124 trillion expected to pass to heirs by 2048, inheriting a home may carry significant financial burdens beyond its market value. While real estate receives a step-up in cost basis—resetting capital gains tax liability to the property’s value at death—heirs still face ongoing costs like property taxes, insurance, HOA fees, and maintenance.

Homes not held in a trust or designated with a transfer-on-death deed must go through probate, a process that can delay access and require the estate to cover expenses during settlement. Financial planners warn that emotional decision-making during grief can complicate choices about whether to sell, rent, or occupy the property. Experts advise evaluating the home’s mortgage status, market value, and renovation costs before committing to any strategy.

Nikkei 225 futures on the CME plunged as open interest collapsed by 51,850 contracts to 82,438 as of February 2, 2026, signaling a sharp retreat in market participation. Trading volume cratered to an estimated 68 contracts, down from 27,967 on January 30.

Each contract is valued at 500 yen multiplied by the Nikkei 225 index level. The dramatic drop in both volume and open interest suggests waning investor interest or potential deleveraging amid heightened market uncertainty.

GameStop (GME) is signaling a potential exit from its $362.4 million Bitcoin position to finance a “transformative” acquisition, CEO Ryan Cohen said in a February 2, 2026 CNBC interview. While declining to confirm a sale, Cohen called the planned deal “way more compelling than Bitcoin” and described it as unprecedented in capital markets history.

The company holds approximately 4,710 BTC, transferred to Coinbase Prime in January 2026, though no sale has occurred yet. GameStop’s shares rose 8.25% to $25.85 following Cohen’s remarks. The firm had only adopted Bitcoin as a treasury reserve asset in March 2025. Analysts note that with BTC prices near institutional entry levels from 2025, reallocating capital toward strategic acquisitions could be prudent, though a GME selloff risks exacerbating broader market volatility.

Metropolitan Capital Bank & Trust, a Chicago-based universal bank focused on small- to medium-sized businesses, was closed on February 2, 2026, by Illinois regulators due to “unsafe and unsound conditions” and insufficient capital. The FDIC was named receiver and struck a deal with Detroit’s First Independence Bank, which assumed substantially all $212 million in deposits and purchased $251 million of the failed bank’s $261 million in assets.

The FDIC estimates the failure will cost its Deposit Insurance Fund $19.7 million, though the final tally depends on the sale of retained assets. No depositors will lose funds, regulators confirmed. This marks the first U.S. bank failure of 2026 and the second consecutive year a Chicago bank held that distinction, following Pulaski Savings Bank’s collapse in January 2025.

OpenAI CEO Sam Altman denied reports that his company is dissatisfied with NVIDIA’s AI chips, calling the claims “ridiculous” and reaffirming OpenAI’s commitment to NVIDIA as a key supplier. The comments followed a Reuters report alleging OpenAI had explored alternatives like Cerebras and Groq due to concerns over inference speed in certain applications, including its Codex product. NVIDIA shares fell 2.9% to $185.61 in regular trading on February 2, 2026, but rebounded in after-hours trading.

Altman stated on X that OpenAI “loves working with NVIDIA” and intends to remain a “very significant super customer” for years. While OpenAI has evaluated other hardware for up to 10% of its inference needs—particularly chips with more on-die SRAM for faster response—it still relies heavily on NVIDIA for most workloads. NVIDIA recently signed a $20 billion licensing deal with Groq, effectively ending OpenAI’s talks with the startup. NVIDIA CEO Jensen Huang confirmed the company plans to invest in OpenAI’s next funding round, potentially its largest ever.

NXP Semiconductors (NXPI) on February 2, 2026, projected first-quarter revenue of $3.05–$3.25 billion, surpassing the Wall Street consensus of $3.10 billion, driven by strong automotive demand and steady industrial sales. The company also forecast adjusted EPS of $2.77–$3.17, above the $2.90 estimate.

The chipmaker, which generates 55% of sales from automotive and 18% from industrial markets, cited robust demand for its secure connectivity chips used in software-defined vehicles and factory automation. Despite posting better-than-expected Q4 revenue of $3.34 billion and adjusted EPS of $3.35, shares fell 5% in extended trading due to an 18% year-over-year decline in communications segment revenue, reflecting weak telecom spending.

Micron Technology (MU) shares jumped 5.5% on February 2, 2026, marking their 13th closing high of the year and fourth in five sessions, driven by strong fundamentals from AI-fueled memory chip shortages and rising demand. Analysts remain bullish, with 88% of those tracked by FactSet rating the stock a buy.

However, technical indicators suggest potential overheating. BTIG analyst Jonathan Krinsky noted Micron’s price is trading about 147% above its 200-day moving average—near the all-time high of 152% hit on January 28. Historically, only two similar divergences occurred: in 1995 and 2000. Both were followed by steep declines—42% and 65% within three months, respectively. While the stock could keep rising or consolidate as the moving average climbs ~$2 daily, Krinsky cautions that “the good news is already priced in,” echoing past market euphoria ahead of major corrections.

Western nations championing net-zero emissions have largely outsourced high-emission heavy industries to Asia and beyond, creating a paradox where their clean-energy ambitions rely on hydrocarbon-intensive production abroad. In 2024, China alone accounted for 49% of the world’s $2.4 trillion in energy transition investments, yet remains the top global emitter and cement producer—manufacturing 2 billion tons annually versus the U.S.’s 90 million.

The offshoring of cement, steel, and chemical production has enabled Europe and other developed economies to cut domestic emissions while shifting carbon output overseas. Meanwhile, these same “dirty” industries supply critical materials for wind turbines, EVs, and data centers—the backbone of Western tech-driven growth. Global coal demand hit a record 8.85 billion tons in 2025, per the IEA, driven partly by infrastructure needs for AI and renewable energy projects. This reveals a structural dependency: the energy transition itself sustains demand for fossil fuels in emerging economies.

Apple is advancing development of its first foldable iPhone, with new leaks indicating a significant departure from current designs, including a creaseless display and custom hinge mechanism. The device is on track for a 2027 launch, according to supply chain sources cited in a February 2, 2026 report.

The prototype features a vertically folding form factor similar to the Samsung Galaxy Z Flip but with a seamless screen surface and reinforced titanium frame. Analyst Ming-Chi Kuo estimates Apple’s entry could capture 15% of the premium foldable market by 2028. Shares of Apple (AAPL) rose 1.2% in after-hours trading following the report. Component suppliers like LG Display and Universal Display Corp are expected to benefit from OLED panel orders starting late 2026.