The Rundown – Episode Summary
Podcast: The Rundown
Host: Zaid Admani (A)
Date: January 9, 2026
Episode: Jobs Report Signals Slowdown, Meta Secures Nuclear Power Deals
Episode Theme
A fast-paced update on the latest stock market moves and major business/economic stories. This episode focuses on the December jobs report signaling shifts in the U.S. economy, Meta’s bold nuclear deals for AI data center energy, and notable corporate headlines including TSMC, Intel, GM, and a look at how millions use ChatGPT for medical advice.
Key Discussion Points & Insights
1. Market Overview & Trends
- Flat Major Indices, Small Caps Outperform
- S&P 500 essentially flat (+0.01%), NASDAQ down (-0.4%), while the Russell 2000 (small caps) closed at record highs, up over 1%.
- “The overall MAG7 is down 0.1% this year. Meanwhile, the S&P500 is up around 1% and the Russell 2000 is up nearly 5%.” (A, 01:35)
- S&P 500 essentially flat (+0.01%), NASDAQ down (-0.4%), while the Russell 2000 (small caps) closed at record highs, up over 1%.
- Rotation Out of Mega Cap Tech
- Continues from late last year. Suggests investor optimism about broader economic growth, since small caps tend to benefit more from such environments.
2. December Jobs Report: What It Signals
- Disappointing Job Growth
- U.S. added 50,000 jobs (vs. 73,000 expected).
- October and November job creation revised down by 76,000.
- Labor Market Still Tight but Cautious
- Unemployment rate dips to 4.4%, wage growth steady.
- “We are currently in a low hire, low fire environment. No, companies aren’t rushing to hire people, but they aren’t laying off a bunch of people just yet either.” (A, 03:05)
- Eyes on the Fed & Next Data Points
- With 4.4% unemployment, uncertainty about further rate cuts.
- Next critical watcher: January 13th CPI inflation data.
3. Meta’s Nuclear Power Moves: Fueling AI Ambitions
- Meta Signs Nuclear Deals
- Partners: Vistra, Oklo, and TerraPower.
- Purpose: To power its Prometheus AI supercluster in Ohio and other next-gen data centers.
- “Getting access to power has become just as important as getting access to GPUs.” (A, 06:35)
- Market Impact
- Vistra & Oklo stocks both up over 10% on the news.
- Investments will extend the lifespan and boost output of existing nuclear plants.
- Wider Trend
- AI giants (Meta, Microsoft, Google, Amazon) increasingly rely on nuclear to meet soaring power needs for AI.
- “Even if AI ends up being a bubble and the demand never materializes … at least we’re getting a lot of investments in power infrastructure, in nuclear energy. To me, more energy is always a good thing, so I take that as a win.” (A, 07:50)
4. TSMC and the Surging Demand for AI Chips
- Blowout Quarter
- Q4 revenue: Over $33B, up 20% YoY—driven by “advanced chips used in AI applications.”
- TSMC’s Central Role
- Key supplier for Nvidia, AMD, Apple, Qualcomm, and more.
- Ripple Effects
- Good TSMC news = good for ASML (lithography machines) —ASML shares up 3%.
- Upcoming Announcements
- TSMC to release earnings and new guidance soon.
- Strong forecasts: Prior 2025 revenue growth outlook raised to 30–40%.
5. Movers: Intel & General Motors Headlines
- Intel
- Stock up 3% following a Truth Social shout-out by President Trump, praising US chip expansion and advances.
- “Intel stock has gone up 75% since the US government took a 10% stake in the company for $9 billion back in August.” (A, 10:10)
- Recent highlight: New “18A 2nm PC chip” at CES; touted as most advanced CPU made in the US.
- General Motors (GM)
- Stock down 2% after $6B EV-related charge due to overestimated electric vehicle demand.
- “The company is now pumping the brakes on its EV ambitions and writing down the value of its EV assets. GM also warned investors that this likely won’t be the last time…” (A, 11:25)
- Upcoming deep dive episode will analyze Lucid Motors and the harsh "EV winter."
6. AI in Health: ChatGPT’s Surging Medical Use
- Fun Fact Spotlight
- 40 million people ask ChatGPT health questions daily (5% of all platform messages).
- OpenAI Embracing Health Tech
- Launching “ChatGPT Health”—dedicated experiences with record uploads, integrations, and personalized explanations.
- Host shares personal use: “I’ve set up a ChatGPT project with custom instructions and… ask it questions all the time.” (A, 14:35)
- AI Among Professionals
- 2/3 of US doctors used AI in 2024 (AMA survey); likely now “closer to 80, maybe 90%” uses in 2026.
- Ongoing Concerns
- Host’s mixed feelings: “Am I a little uncomfortable that OpenAI has all this health data about me? Yeah, but I’m probably still going to sign up for ChatGPT Health.” (A, 15:50)
- Humor: “Using ChatGPT is way better than what we used to do, which was Google our symptoms and then immediately be told that we had months to live based on an article on WebMD.” (A, 16:10)
Notable Quotes & Memorable Moments
- “We are currently in a low hire, low fire environment…” (A, 03:05)
- “Getting access to power has become just as important as getting access to GPUs.” (A, 06:35)
- “Even if AI ends up being a bubble... at least we're getting a lot of investments in power infrastructure, in nuclear energy.” (A, 07:50)
- “Intel stock has gone up 75% since the US government took a 10% stake in the company for $9 billion back in August.” (A, 10:10)
- “GM also warned investors that this likely won’t be the last time that it takes a charge when it comes to EVs.” (A, 11:25)
- “I’ve set up a ChatGPT project with custom instructions and I’ve uploaded all my health records and lab results and I ask it questions all the time.” (A, 14:35)
- “Am I a little uncomfortable that OpenAI has all this health data about me? Yeah, but I’m probably still going to sign up for ChatGPT Health.” (A, 15:50)
- “Using ChatGPT is way better than what we used to do, which was Google our symptoms and then immediately be told that we had months to live based on an article on WebMD.” (A, 16:10)
Timestamps for Key Segments
| Segment | Timestamp | |----------------------------------------------------|------------| | Market Recap & Small Cap Rotation | 00:20–02:30| | December Jobs Report Breakdown | 02:35–04:10| | Meta’s Nuclear Power Deals & Industry Impact | 05:30–08:25| | TSMC Earnings & Chip Industry Update | 08:30–10:05| | Intel & GM Stock News, Lucid Preview | 10:10–12:35| | ChatGPT Health: AI as a Doctor | 13:30–16:30|
Episode Wrap-up
This compact, informative episode gives listeners a quick but thorough update on key market stories — from “low hire, low fire” jobs trends and AI’s electric demand transforming infrastructure, to how ChatGPT is increasingly becoming a health companion for millions. Entertaining, sharp, and on point, it’s a must-listen for anyone wanting to keep a finger on the pulse of the markets and tech.