Podcast Summary – The Rundown: Discord Confidentially Files for IPO, Elon Musk’s xAI Raises $20 Billion
Date: January 7, 2026 | Host: Zaid Admani (Public.com)

Episode Overview

In this episode, host Zaid Admani presents a rapid-fire daily market update, breaking down major stock movers and key tech news. The main highlights include the soaring data storage stocks following Nvidia comments, Discord’s confidential IPO filing, Elon Musk’s xAI raising a record $20 billion, market and metals updates, as well as notable shifts in AI chatbot traffic. The episode aims to brief investors on emerging trends and actionable headlines in under 10 minutes.

Key Discussion Points & Insights

1. Markets at All-Time Highs and Storage Stocks Surge

(00:30–02:55)

• Markets Rally: The S&P 500 and Nasdaq each rose 0.6%, pushing the S&P to its first record close of 2026.

  • “Dow Jones continues to outperform…closing above 49,000 points for the first time ever. Which is cool, but like, I still don’t care about the Dow.” – Zaid Admani [00:36]

• Data Storage Boom: SanDisk (+28%), Western Digital (+17%), and Seagate (+14%) soared after Nvidia CEO Jensen Huang stressed the crucial role of memory and storage in AI at CES.

  • “He said the storage market is largely unserved and could become one of the biggest hardware markets on the planet as AI usage expands.” [01:15]
  • Anticipation of increased storage prices could impact consumer electronics.

• Potential Deep Dive on Storage: Zaid hints at a future episode on the implications of rising storage costs.

2. Metals Rally Amid Market Broadening

(02:55–03:34)

• Gold, Silver, and Copper: Gold nears record highs; both copper and silver hit all-time records, with silver at $80/oz for the first time.

• Investor Sentiment: While the rally broadens beyond mega-cap tech, investors hedge with hard assets due to ongoing geopolitical uncertainty.

• Upcoming Macro Data: Reminder about the upcoming December jobs report as a significant data point for early 2026.

3. Discord Confidentially Files for IPO

(03:34–05:42)

• IPO Filing: Discord initiates a confidential IPO process but is still internally debating going public.
• Growth & Evolution: Founded in 2015, Discord has over 200 million monthly active users, ranging from gamers to investors and niche communities.
• Valuation History: Last valued at $15B in 2021; famously declined Microsoft’s $12B acquisition offer.
  • “In hindsight, I bet they wish they took that deal…” [04:25]
• IPO Readiness: CEO switch in April 2025 and a pivot towards monetization and commerce for gaming.
• Headwinds: Facing PR, regulatory, and safety challenges, including a lawsuit with Roblox and US government scrutiny for alleged extremist activity.
• Broader Tech IPO Trend: The 2025 IPO market rebounded markedly, doubling over 2024. Zaid predicts 2026 will be a record IPO year, possibly featuring SpaceX and Anthropic.

4. Elon Musk’s xAI Raises $20 Billion

(05:42–07:30)

• Fundraising Details: xAI’s $20B round doubles its valuation to $230B; backers include Nvidia, Cisco, Fidelity, and Middle Eastern wealth funds.
• Burn Rate & Growth: xAI is spending ~$1B/month, building huge data centers (Memphis campus nearing 2GW power).
• xAI Ecosystem: Owns X (formerly Twitter); leverages X to promote Grok chatbot, now claiming 600M monthly users across both platforms.
• Profitability Concerns: Zaid voices skepticism on Grok’s paid subscriber base compared to ChatGPT.
• Challenges: xAI faces scrutiny for misuse of Grok (generating illegal images of women), raising compliance and ethical concerns.
  • “That backlash hasn’t stopped them from raising more funds.” [07:25]
• Personal Anecdote: Zaid mentions he went to high school with xAI co-founder Greg—a lighthearted moment for listeners.

5. Stock Movers: Mobileye & Deckers Outdoors

(07:30–08:23)

• Mobileye: Shares up >10% (and nearly 30% YTD) after acquiring humanoid robotics firm Menti for $900M; expects proof-of-concept robot in 2026.

• Rationale: Expansion from AI chips for self-driving into robotics is deemed a logical extension.

• Deckers Outdoors: Shares down >4% on analyst downgrades due to slower Hoka brand sales growth (11% in Q4 2025 vs. 34% in Q4 2024); price targets trimmed to $85 and $125.

6. AI Chatbot Traffic: ChatGPT vs. Gemini

(08:23–09:17)

• Traffic Drop: ChatGPT’s seven-day web traffic fell 22% (from 200M to 158M visits) after Gemini 3’s November launch; Gemini traffic stayed flat.
• Caveats: Data excludes mobile app/API/enterprise use; possible holiday season effect.
• Speculation: Questions whether Gemini is gaining ground and references Sam Altman’s “code red” at OpenAI.
  • “Producer Mike’s prediction that Sam Altman would get fired as CEO of OpenAI this year is starting to look a little less crazy.” [09:05]

Memorable Quotes & Moments

• On Market Highs:
  “Which is cool, but like, I still don’t care about the Dow.” – Zaid [00:36]

• Nvidia on Storage:
  “AI isn’t just about GPUs anymore. It’s also about memory and storage.” (paraphrasing Jensen Huang via Zaid) [01:11]

• Discord’s Missed Microsoft Deal:
  “In hindsight, I bet they wish they took that deal, because I’m not sure how much Discord is going to be valued at once they hit the public markets.” [04:25]

• On xAI’s Funding Despite Controversy:
  “That backlash hasn’t stopped them from raising more funds.” [07:25]

• Personal Anecdote:
  “I did give Greg a ride home once. So Greg, if you want to return the favor 15 years later, it’d be great to have you on the rundown…” [07:42]

• On OpenAI CEO Rumors:
  “Producer Mike’s prediction that Sam Altman would get fired as CEO of OpenAI this year is starting to look a little less crazy.” [09:05]

Timestamps – Key Segments

• 00:00–00:30 — Introduction & Market Rally Recap
• 00:30–02:55 — Data Storage Stocks Surge Following Nvidia Comments
• 02:55–03:34 — Metals Rally; Market Broadening; Jobs Report Preview
• 03:34–05:42 — Discord’s Confidential IPO Filing & Industry Impact
• 05:42–07:30 — Elon Musk’s xAI $20B Raise: Details, Risks, Personal Note
• 07:30–08:23 — Mobileye Robotics Acquisition; Deckers/Hoka Downgrade
• 08:23–09:17 — AI Chatbot Traffic: ChatGPT Slips After Gemini 3 Launch
• 09:17–End — Closing Remarks (outros, not content-focused)

Summary & Takeaways

This episode delivers a brisk, informed look at the flashpoints shaping the stock market and tech landscape in early 2026. Data storage, metals, IPOs, and AI remain top themes. Listeners gain context for Discord’s IPO decision, xAI’s aggressive expansion, the dynamics of AI chatbot competition, and investor sentiment as the year begins.

For investors and followers of tech and financial trends, this episode packs actionable insights and timely analysis into a fast, digestible update—true to The Rundown’s mission.