Keep pulling the thread on The Jeffrey.
Google is conducting a stock offering that was upsized to $85 billion.
Google's $85 billion capital raise includes a $40 billion at-the-market (ATM) offering, a $35 billion sale of common stock and mandatory convertibles, and a $10 billion private placement to Berkshire Hathaway.
Google is raising capital through its recent stock offerings to finance the construction of data centers and the purchase of chips for its AI initiatives.
Matt Levine observes a significant market shift where major US tech companies are moving from being capital-light and executing stock buybacks to being capital-intensive and issuing new stock to fund AI-related expenditures.
A federal jury in Los Angeles has found activist short-seller Andrew Left guilty of market manipulation.
To mitigate financial risk from its free tab promotion, The Jeffrey bar hedged its exposure by placing a bet on the New York Knicks to win using the platform Kalshi.
Alphabet's at-the-market (ATM) stock program is intended to facilitate an administrative change in how the company meets tax obligations for employee equity grants, mimicking a sell-to-cover model.
Quantitative trading firm Jane Street plans to build a new data center in response to the increasing scarcity of compute power.
According to Carson Block of Muddy Waters Research, the jury convicted Andrew Left on the basis that he did not genuinely believe the opinions he published in his tweets.
Andrew Left's sentencing is scheduled for August 31st.
The conviction of Andrew Left is perceived as having a chilling effect on the short-selling industry.
The number of activist short-selling funds that have published research has declined from 55 in 2020 to 31 year-to-date, according to research firm Breakout Point.