The Rundown — February 24, 2026
AMD Lands $100B AI Deal With Meta, Home Depot Surprises, Uber Enters Parking
Host: Zaid Admani
Podcast by: Public.com
Episode Theme:
A packed market update highlighting a viral AI doomer essay’s impact on stocks, a massive AMD–Meta AI chip deal, Home Depot’s surprising earnings, key movers in nuclear energy and health, and Uber’s big step into parking.
Market Turmoil Triggered by Viral AI Doomerism
Key Segment: [00:10–02:14]
- Monday’s Markets:
- S&P 500 and Nasdaq each dropped more than 1%.
- Tech and software were hit hardest; software ETF (IGV) fell 5%.
- AI "Doomsday" Fears:
- Viral Substack essay by "Citrini" painted a bleak picture of mass white-collar job loss and a market collapse by 2028.
- Zaid notes, “It was a very well written article and while I don’t agree with the predictions, clearly it was enough to spook the broader market.” [00:44]
- Anthropic’s Impact:
- Anthropic unveiled new features that undermined cybersecurity stocks and IBM.
- IBM slid 13%—its worst day since 2000—after Anthropic claimed Claude could modernize Cobol, which is key to IBM’s consulting.
- Zaid jokes, “If someone from Anthropic is listening, please just take a break from releasing new features. Go on vacation or something because my portfolio is getting wrecked right now.” [01:37]
- Crypto:
- Bitcoin continues to decline, now at $63,000.
Looking Ahead:
- Nvidia’s earnings on Wednesday loom large for tech market sentiment.
AMD and Meta Strike $100 Billion AI Chip Deal
Key Segment: [02:20–04:01]
- Deal Details:
- Meta commits to purchasing 6 gigawatts-worth of AMD MI450 AI chips over five years.
- AMD pegs each gigawatt at “tens of billions in revenue,” making the contract over $100B.
- Strategic Value:
- Meta remains diversified in its AI hardware, not relying solely on Nvidia.
- The chips are custom-designed MI450s for Meta’s needs; directly compete with Nvidia’s top offerings.
- Unique Structure:
- Meta gets warrants to buy up to 160 million shares of AMD for a penny each (~10% stake in AMD)—but only vests fully if AMD stock hits $600 (from $197).
- Zaid: “Meta is now economically tied to the success of AMD.” [03:18]
- Similar Strategy:
- Echoes AMD’s previous structure with OpenAI—offering company equity to lock in chip deals.
- Market Response:
- AMD shares up 6% (peaked 10% pre-market).
- Takeaway:
- “Zuck’s still doing his multibillion-dollar chip deals despite all the AI doomerism happening in the markets right now.” [03:49]
Home Depot: Earnings Surprise in a Frozen Housing Market
Key Segment: [04:05–05:23]
- Q4 Results:
- Revenue: $38.2B
- EPS: $2.72 (Both metrics beat estimates)
- Overall sales fell 4% YoY; comparable sales rose 0.4% (expected: decline)
- Strengths:
- Pro business (sales to contractors and professionals) is buoyant, offsetting weak DIY demand.
- E-commerce surged double digits for the third consecutive quarter.
- Caveats:
- Homeowners still hesitant on major remodels due to high mortgage rates and uncertainty.
- “The housing market has been frozen for so long, and while mortgage rates are starting to come down, it still hasn’t been enough to unlock the housing market.” [05:01]
- Forecast:
- 2026 sales expected to rise 2.5–4.5%.
- Market Reaction:
- Home Depot up 3%.
Stocks on the Move: BWX and Hims & Hers
Key Segment: [05:27–07:03]
BWX Technologies
- Why It’s Moving:
- Nuclear reactor/biofuel company beat on both earnings and sales.
- Main growth: commercial reactor demand from AI data center expansion.
- Projected 2026 sales: $3.75B (+16% YoY).
- Stock up 7%.
Hims & Hers
- Why It’s Down:
- Missed Q4 sales and weak Q1 guidance.
- Q4 revenue: $618M (+28% YoY); matches, but doesn’t beat, estimates.
- Q1 revenue outlook: $600–$625M (Wall St. expected $653M).
- Subscriber growth slowing (Q4 up 13%, was 31% in Q2).
- Facing a lawsuit from Novo Nordisk over “copycat” weight loss drugs.
- Zaid: “Investors aren’t buying [the CEO’s] minimization of risk.” [06:46]
- Stock down 5% today, -70% over the past year.
Uber Acquires SpotHero, Jumps Into Parking
Key Segment: [07:05–08:13]
- Acquisition:
- Uber buys SpotHero, a leading parking reservation app (13,000+ locations, 400+ cities US & Canada).
- SpotHero will be integrated into the Uber app: “One less app for me to use.”
- Strategic Angle:
- Zaid: “On the surface, it seems like a weird move, but I think I understand their strategy. Uber is trying to be the all-in-one transportation platform.” [07:47]
- Potential perks for Uber One subscription members; may help boost retention.
- “It is also kind of ironic that Uber, which has always been about getting you to not drive your own car, is getting into the parking business.” [07:37]
Notable Quotes
- "We’re at the point where we got AI doomer essays going viral every week and Anthropic casually wiping out billions of dollars in market cap." — Zaid [01:30]
- "Meta is now economically tied to the success of AMD." — Zaid [03:18]
- "The housing market has been frozen for so long, and while mortgage rates are starting to come down, it still hasn’t been enough to unlock the housing market." — Zaid [05:01]
- "It is also kind of ironic that Uber, which has always been about getting you to not drive your own car, is getting into the parking business." — Zaid [07:37]
Summary Table of Key Stock Movers
| Company | News/Results | Market Reaction | |-----------------|----------------------------------|-------------------| | AMD | $100B Meta AI chip deal | +6% | | Home Depot | Sales/Profit Beats (Q4) | +3% | | BWX Technologies| Strong nuclear growth, beat Q4 | +7% | | Hims & Hers | Soft guidance, legal worries | -5% (today), -70% (year)| | Uber | Acquired SpotHero (parking app) | N/A |
Final Thoughts
- The episode provided a rapid, engaging take on the market’s volatility amid AI hype and fear, highlighted significant tech and retail deals, and included a quirky strategic move from Uber.
- Zaid’s humor and directness offer both context and concise explanations for why each headline matters to investors.
For more: Subscribe and tune in daily for quick, actionable market intelligence with Zaid Admani on The Rundown by Public.com.