Crypto-Friendly Platform Launches IPO
Trump Backs Saudi AI Ambitions and Sony Surges on $1.7B Buyback
CRYPTO
Crypto-Friendly Platform Launches IPO
eToro has officially gone public on May 14, 2025, listing on the Nasdaq under the ticker "ETOR." Priced at $52 per share—above its expected $46–$50 range—the IPO raised approximately $620 million, giving the company a valuation of $4.26 billion. This is a big moment for both retail investors and the fintech sector.
If you’re unfamiliar, eToro is a social trading platform launched in 2007 that allows users to trade stocks, crypto, ETFs, and even copy the strategies of top investors. With over 3.5 million funded accounts across 75 countries, it’s been a major gateway into crypto and investing for everyday users.
This IPO signals two things: investor appetite is returning, and fintech is still hot—especially platforms that merge crypto and traditional finance. I’m watching how eToro grows post-IPO and what it could mean for the broader adoption of crypto through regulated platforms. One to keep an eye on.
TECH
Trump Backs Saudi AI Ambitions
President Donald Trump kicked off a high-stakes Gulf tour this week in Saudi Arabia, headlining the Saudi-U.S. Investment Forum alongside tech giants like Nvidia’s Jensen Huang, OpenAI’s Sam Altman, and Tesla’s Elon Musk. The main focus? Artificial Intelligence. Trump pushed for an additional $400 billion investment from Saudi Arabia, on top of a $600 billion pledge already made by Crown Prince Mohammed bin Salman.
In tandem, Saudi Arabia unveiled Humain—a new AI company backed by its sovereign wealth fund, the Public Investment Fund (PIF). Trump responded by easing U.S. export restrictions, giving Humain and UAE-based G42 access to Nvidia’s cutting-edge AI chips. Massive data centers with over 18,000 Nvidia GPUs are planned.
Experts say this is more than business—it’s a geopolitical chess match with China looming. While some worry about national security, U.S. tech companies see the Gulf's deep pockets as a lifeline for expansion.
A new AI power axis is emerging.
TECH
Sony Surges on $1.7B Buyback
Sony shares rose over 3.5% on Wednesday after announcing a $1.7 billion share buyback and reporting stronger-than-expected earnings. Operating income for the last quarter came in at approximately $1.36 billion, beating analyst expectations of around $1.28 billion, though still down 11% from the same period last year.
Sony also revealed plans to partially spin off its financial services unit. More than 80% of the new company’s common stock will be distributed to Sony shareholders as dividends. The financial arm will be listed this year and classified as a discontinued operation starting this quarter.
Looking ahead, Sony expects operating profit to rise just 0.3% to $8.55 billion for the fiscal year ending March 2026—below the $10 billion expected by analysts—due to an anticipated $670 million impact from U.S. tariffs. However, Sony noted that this estimate doesn’t account for the new U.S.-China trade agreement, which may soften the blow.
Sony continues expanding in entertainment, music, and gaming.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.