Podcast Summary: The Rundown

Episode: Big Banks Earnings Impress, Oracle to Deploy 50,000 AMD Chips
Date: October 14, 2025
Host: Zaid Admani

Episode Overview

In this fast-paced daily market update, host Zaid Admani covers a whirlwind of topics, from escalating US-China trade tensions and record high silver prices, to impressive earnings from major banks and a significant AI chip partnership between Oracle and AMD. The episode wraps with insights on the current bull market’s endurance, backed by historical context.

Key Discussion Points & Insights

1. Market Reaction to US-China Tensions

• Market Bounce Back: Following President Trump's softened tariff threats, markets rebounded:
  • S&P 500: +1.5%
  • Nasdaq: +2%
  • “[We] know where Trump threatens tariffs, causes the markets to panic, only to walk it back. And the markets bounce back.” – Zaid Admani (01:05)
• Escalation From China:
  • China banned business with US subsidiaries of a South Korean shipbuilder, retaliating against new US port fees for Chinese ships.
  • Maintained rare earth export restrictions, directly fueling recent American tariff threats.
  • “[China] seems to be escalating things and that’s spooking investors. Right now I’m recording in the pre market and I’m seeing red across the board.” – Zaid (02:00)
• Safe Haven Surge: Investors pivoted to gold and silver, both hitting record highs on market anxiety.

2. Silver Outshines Gold

• Historic Rally:
  • Gold: ~$4,100/oz (all-time high)
  • Silver: >$53/oz (first time since 1980s)
  • Silver up 78% YTD, outpacing gold’s 53%.
• Drivers of the Surge:
  • Physical supply constraints & rising demand—especially in solar panels and AI chips.
  • “There’s actually not enough physical silver right now due to production constraints and also rising use in solar panels and AI chips.” – Zaid (03:23)

3. Big Bank Earnings Impress

JP Morgan (05:01)

• Q3 Profits: $14B (+12%), beat expectations
• Growth Drivers:
  • M&A activity, market volatility
  • Investment banking fees: +16%
  • Trading revenues: +25%
• CEO Jamie Dimon:
  • "The US economy remains resilient, but he warned about sticky inflation, elevated asset prices, and the heightened geopolitical uncertainty." (05:41)

Goldman Sachs (06:00)

• Q3 Profits: $4.1B (+37%), well above forecasts
• Key Growth Areas:
  • Investment banking: +42% (boosted by M&A/private equity)
• Strategic Move: Acquiring VC firm Industry Ventures
• Cultural Note:
  • “Their stock is at all time highs. And I wonder if this means that CEO David Solomon will start dating Cjing again. I know he gave that up to focus on being a CEO, but maybe he should bring it back.” – Zaid (06:39)

Wells Fargo (07:04)

• Q3 Profits: $5.6B (+9%), beat estimates

• Regulatory Breakthrough: Asset cap lifted (post-fake account scandal), enabling future growth

• Investment Banking: Revenue +25%

• “Across the board, big banks are riding high on the M&A boom and taking advantage of the chaos in the markets.” – Zaid (07:25)

4. AI Chip Wars: Oracle & AMD’s Major Partnership

• Deal Details (07:30):
  • Oracle to deploy 50,000 AMD MI450 AI chips in data centers (starting H2 2026)
  • This follows AMD’s recent deal with OpenAI (10% equity for chip commitment)
• Industry Implications:
  • AMD intensifying fight against Nvidia’s AI chip dominance
  • Web of partnerships: Oracle provides cloud to OpenAI, OpenAI buys AMD chips, Oracle buys AMD chips
• “Does that mean that the AMD chips that Oracle is buying will ultimately be used by OpenAI? ... I need to update my AI money flow chart.” – Zaid (08:12)
• Big Picture: AMD staking a claim on Nvidia’s turf

5. Stock Movers (08:45)

US Rare Earth Miners

• Reason for Rally: China holding the line on rare earth restrictions, boosting hopes for US government support
  • Critical Metals: +36% pre-market
  • US Rare Earth: +11%
  • MP Materials: +8%
• “China produces about 70% of the world’s rare earths and they process nearly 90%… The more that China restricts, the more US miners stand to gain.” – Zaid (09:00)

General Motors

• Negative Move: -12% pre-market
• Reason: $1.6B hit from downsizing EV manufacturing, after loss of $7,500 Federal EV tax credit (cut in Sept)
  • “GM says they’re reassessing their EV strategy after the government ended the $7,500 federal tax credit for electric vehicles back in September, which is likely to reduce demand.” – Zaid (09:17)

6. Bull Market Birthday & Fun Fact Finale (09:23)

• Current Bull Market: 3 years old; S&P up 83% since Oct 2022
• Historical Perspective:
  • Since 1950: 14 bull markets, avg. duration 4.6 years, avg. return 160%
  • Longest bull: 12+ years (1987–2000 dot-com crash)
• Broader Participation: Momentum shifting beyond tech into small caps, industrials, and utilities
  • “Let’s hope that we’re celebrating the bull market again this time next year.” – Zaid (09:40)
• Playful Ending:
  • “I mean it would be crazy if this bull market lasted until 2034. We might finally have GTA 6 by then.” – Zaid (09:55)

Notable Quotes & Memorable Moments

• On Market Drama:
  • “The markets continue to be the best show in the world… we're going to be staying on top of all the drama.” – (03:36)
• On Bank CEO’s Social Life:
  • “Maybe [David Solomon] should bring back DJ'ing.” – (06:45)
• On AI Market Moves:
  • “I need to update my AI money flow chart to follow all these moves.” – (08:15)
• On Investor Resilience:
  • “So yeah, let's hope that we're celebrating the bull market again this time next year.” – (09:40)

Timestamps

• 00:00–03:40: Market update & US-China trade headlines
• 03:41–04:45: Gold & silver market performance
• 04:46–07:28: Big bank earnings (JP Morgan, Goldman Sachs, Wells Fargo)
• 07:29–08:44: Oracle & AMD AI chip deal analysis, Nvidia rivalry
• 08:45–09:22: Stock movers: US rare earth miners, General Motors
• 09:23–09:55: Bull market longevity, S&P 500 history, fun fact wrap

For listeners seeking a sharp, informative, and slightly irreverent take on market news, this episode delivers—balancing hard numbers, macroeconomic narrative, and a dose of humor.