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Greetings !

This week’s world famous News Haiku^TM competition theme is that the U.S. government shutdown has left traders “flying blind” on jobs data. Email me your brilliant News Haiku^TM on the subject by Thursday at noon ET for a chance to be voted winner.

Now let’s talk about today’s news you Need2Know, shall we?

—Matt Davis, Need2Know Chedditor

News You Need2Know

• OpenAI and AMD strike billion-dollar chip deal

• Taylor Swift smashed The Rock at the box office

• What’s next for General Motors?

• The Dubai chocolate craze is big business

• Let’s plant a billion oysters in New York City, eh …

What’s the stock market up to, eh?

$SPX ( ▲ 0.36% ) $DJI ( ▼ 0.14% ) $NDX ( ▲ 0.71% )

Companies mentioned in today’s newsletter

$AMD ( ▲ 23.71% ) OpenAI $NVDA ( ▼ 1.11% )  $GM ( ▼ 3.23% )  $COST ( ▼ 0.49% )  $WMT ( ▲ 0.62% )  

OpenAI and AMD strike billion-dollar chip deal

The race to dominate AI chip production is getting more intense. OpenAI, the company behind ChatGPT, has struck a monumental deal with AMD $AMD ( ▲ 23.71% ) , signaling the rise of a fierce competitor to Nvidia $NVDA ( ▼ 1.11% ) , the current market leader. AMD’s shares surged over 30% on the news, stemming from a multiyear commitment by OpenAI to purchase 6 gigawatts of AMD’s AI chips. “Every gigawatt of compute translates to significant, double-digit billions of revenue,” said AMD CEO Lisa Su, saying something I almost completely understand.

Nvidia, however, isn’t stepping aside. While its shares slipped 1.5%, analysts believe Nvidia’s leading position isn’t in jeopardy. OpenAI CEO Sam Altman’s aggressive spending strategy could also push competitors to double down on their investments, meaning there’s plenty of likely investment to go around.

OpenAI isn’t leaving Nvidia behind, having recently inked a $100 billion deal with the firm to scale its AI infrastructure.

Song of the day: Dodie, ‘I’m Fine’

This song is about saying “I’m fine” when in fact you are not fine. I wouldn’t know because I am 100% emotionally balanced and in touch with my feelings, like most men my age. But you know, I like the song. For some reason (sniffs).

Taylor Swift smashed The Rock at the box office

Taylor “Taylor’s Version” Swift continues her reign as a global phenomenon, with her latest cinematic venture, “The Official Release Party of a Showgirl,” making waves at the box office. The 89-minute film earned $34 million in U.S. ticket sales during its debut weekend, making it the top-grossing movie domestically. Globally, the numbers climbed to $50 million, making it the largest-grossing album debut theatrical event of all time, according to AMC.

The film, which premiered alongside Swift’s studio album “The Life of a Showgirl,” thrilled fans across hundreds of theaters. Enthusiasts showed up decked in friendship bracelets and Swift-themed attire, eager to experience the first screening of her music video “The Fate of Ophelia” and intimate behind-the-scenes glimpses.

I am so sad I missed out on those movie trips because they sound right up my alley.

I asked Cheddar’s in-house Taylor Swift critic — and, let’s say, vice president of content — Lauren “Lauren’s Version” Babbage what she thinks of the album. Her verdict: It is not very good. “It feels like she’s stuck since she got into a relationship with Travis Kelce,” she said. “Like she doesn’t know what to write about any more.”

Still, it broke Spotify streaming records, so I guess that means something. I don’t think Taylor Swift probably cares about Ms. Babbage’s opinion. Perhaps she could write a new album about making $50 million in global box office in a single weekend and beating The Rock’s $6 million for “The Smashing Machine,” which, let’s face it, somewhat scotches his Oscar hopes (if not his presidential ones)?

Booo. He lost a ton of weight for the Cannes screening, and everything… and Emily Blunt is in it! 😿

Today on the ‘gram: Build a Scrooge McDuck safe

Post of the day: 10–1 it’s not his retirement

Quote of the Day

What’s next for General Motors?

GM $GM ( ▼ 3.23% ) had record-breaking sales in 2024 and still has ambitious plans for 2025. "2024 was a record breaking year for GMC. Sales grew 10% year over year from 2023 and we had our best share year ever," said GM’s Jaclyn “McTotal McRecall” McQuaid. "2025 we're on track to even beat that record with another 10% rise in sales over 2024.”

McQuaid attributes the company’s success to GM's unique brand positioning as "the only truly premium truck and SUV brand on the market," and its diverse product portfolio. Although I’m sure it’s more than that. Like, surely? They also have hybrids these days!

"I see GM continuing to grow. I see GM continue to innovate, continuing to be on the leading edge of technology,” she said. “Not innovation for innovation's sake though. Innovation that matters to the customer. Innovation that customers find value in.”

I, of course, prefer useless innovation, but that’s probably why I’m not running a (major) car company. Thanks for talking to us, Jaclyn!

Should you check your 401(k) today?

👍️ 

Heck to the yes.

The Dubai chocolate craze is big business

What started as a local indulgence has, let’s say, erupted into a worldwide trend. Dubai chocolate, first crafted by Fix Chocolatier in Dubai in 2021, has gone from social media darling to cultural phenomenon, sparking demand for pistachios and inspiring confections far beyond the original chocolate bar.

“I don’t call this a ‘trend’ anymore — it’s a whole new thing,” said Din “Eat It” Allall, whose New York–based family business, The Nuts Factory, has embraced the craze, now offering Dubai-inspired treats ranging from chocolate-covered nuts to a $79.99 Dubai Golden Chocolate bar infused with edible 24-karat gold. I’ll take a dozen!

Dubai chocolate’s appeal lies in its luxurious ingredients and textures. The original bar boasts a creamy pistachio filling, often mixed with tahini and crispy kadayif pastry, encased in a rich milk chocolate shell.

Fans, like Erica Lefkowits in Dublin, N.Y., rave about the sensation: “For me, it’s the crunch. The chocolate is soft and melty, and the filling is creamy, and then the crunch of the kadayif. It’s all about the texture,” she told the Associated Press.

Major retailers, including Trader Joe’s, Costco $COST ( ▼ 0.49% ) , and Walmart $WMT ( ▲ 0.62% ) , have jumped on the trend, alongside household names like Baskin-Robbins and IHOP. Stew Leonard Jr., CEO of Stew Leonard’s grocery stores, marveled, “I’ve never seen a single item sell like this in my 50 years of retailing.” 

Let’s plant a billion oysters in New York City, eh?

Imagine New York City not just as the Big Apple but as the Big Oyster. Historically, over half the world's oyster population thrived in the city, filtering the harbor's waters. Today, let’s just say… not so much. But the Billion Oyster Project is bringing the vision back to life.

The ambitious environmental restoration project is more than just numbers; it's about rebuilding a vital ecosystem. Oysters are incredible natural filters, with a single adult capable of cleaning up to 50 gallons of water daily. A billion oysters could purify the entire New York Harbor in just three days, acting as a round-the-clock water treatment plant.

Beyond filtration, these oysters create crucial reef structures that provide habitat for marine life and act as natural seawalls, protecting the shoreline from erosion and storm surges. The project collects discarded oyster shells from 80 New York City restaurants, which are then cleaned and seeded with oyster larvae. These young oysters are deployed on innovative concrete reef balls designed to last decades.

The impact is already evident, with 17 acres of restored reef and over 150 million oysters in the water. Researchers are observing a remarkable return of biodiversity, including mud crabs, sea squirts (which are an actual thing), and even blue-spot blennies guarding their eggs. This project is a testament to how local action can drive meaningful environmental change.

Poll of the day: Let’s get forensic on this one…

Poll of the day: Apple of my not

We asked: “Do you support Apple's decision to remove an app for reporting ICE sightings?”

You answered:

🟩🟩🟩🟩🟩🟩 No. Tech firms should serve the public trust and protect the innocent. (555)

🟨⬜️⬜️⬜️⬜️⬜️ Yes. Tech firms should uphold the law. (169)

⬜️⬜️⬜️⬜️⬜️⬜️ Classified. (55)

779 Votes via @beehiiv polls

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