Podcast Summary: The Rundown

Host: Zaid Admani (Public.com)
Episode Title: Meta Buys Millions of Nvidia Chips, Uber Invests $100M in Robotaxi Infrastructure
Date: February 18, 2026
Length: ~10 minutes

Episode Overview

This episode of The Rundown delivers a concise yet thorough update on recent moves by major tech companies and the broader stock market. Host Zaid Admani delves into Berkshire Hathaway’s latest investments, Meta’s massive AI chip deal with Nvidia, Uber’s commitment to autonomous vehicle infrastructure, and significant CEO turnover rates among U.S. companies. The episode is tailored to keep listeners informed on the biggest financial and tech headlines, focusing on actionable insights for investors.

Key Discussion Points & Insights

1. Market Snapshot & Software Stock Weakness

• Markets showed slight bounces: S&P 500 and Nasdaq rose 0.1%, ending recent losing streaks.
• Software sector continues to struggle: The IGV ETF (tracking 100+ software companies) fell by 2%.
• Apple remains a bright spot: Shares rose over 3%.
  • “Apple was a bright spot though their stock was up more than 3% yesterday...” (01:01)
• Amazon struggles: After a nine-day slump and losing around $500 billion in market cap, it saw a 1% uptick.

2. Berkshire Hathaway’s Portfolio Moves

• Major trims: 75% reduction in Amazon stake, 4% off Apple holdings (still Berkshire’s largest).
• New bets: Initiated a position in The New York Times, signaling renewed interest in media.
  • “Pretty good timing over there at Berkshire. They also trimmed Apple stake... Apple is still their largest holding. The other notable thing... Berkshire took a new position in the New York Times.” (02:00-02:30)

3. Commodities Update

• Gold and silver fall: Gold dips under $5,000/ounce, silver nears 2026 lows.
• Stock picker’s market: Broader markets show little momentum, challenging index-based investors.

4. Meta’s Multibillion-Dollar Nvidia Chip Deal

• Scope: Multi-year, multi-million-chip deal covering Nvidia’s Blackwell GPUs, future Rubin chips, and networking hardware.
• Size: Analysts estimate “tens of billions” — part of Meta’s $135 billion annual AI budget, scaling to $600 billion by 2028.
  • “Meta just signed a massive multi-year deal to buy millions of Nvidia chips... analysts say this deal is likely worth tens of billions of dollars. Meta is committed to spending up to $135 billion on AI this year alone, and up to $600 billion on data center infrastructure by 2028.” (04:00-04:45)
• First major tech to deploy Nvidia’s Grace CPUs standalone: A significant endorsement for Nvidia’s CPU ambitions.
  • “Nvidia has been trying to break into the CPU market for years and now having Meta deploy them at scale is a real vote of confidence.” (05:12)
• AI arms race: Meta sources from Nvidia, Google (TPUs), and works on in-house chips.
  • “Meta used their deal with Google and the threat of making their own AI chip as a way to get leverage and a potential discount from Nvidia. Plus, Meta’s buying in bulk, so hopefully Jensen gave Zuck a deal.” (06:10)

5. Uber’s $100M Robotaxi Charging Infrastructure Investment

• Initiative: Building fast-charging hubs for AVs, starting in Bay Area, LA, and Dallas — the first planned robotaxi launch markets.
• Strategic positioning: Rather than develop self-driving tech, Uber partners with 20+ AV companies (e.g., Waymo), focusing on operational platform and infrastructure.
  • “Instead of developing their own self-driving tech, they’re partnering with more than 20 autonomous vehicle companies globally, including Waymo. And they’re positioning themselves as the platform and operations layer.” (07:20)
• Wall Street skepticism: Uber’s shares down 14% YTD; concerns over reliance on human drivers as Waymo and Tesla ramp up.
  • “There’s real fear that as Waymo expands and Tesla’s robo taxi ambitions ramp up, that Uber’s core human driven ride hailing business will slowly become obsolete.” (08:10)
• Host’s take: Bets that Uber’s platform approach could prevail if AVs become commoditized.
  • “They’re banking that self-driving cars become a commodity and all these robo taxi companies are going to be on Uber’s platform to get riders.” (08:45)

6. Stock Movers: Caesars Entertainment & SanDisk

• Caesars Entertainment: Solid Q4, revenue up 4% YoY to $2.9 billion.
  • “Looking ahead, Caesar’s plans to pull back on capex spending in 2026, which means they’ll have more free cash flow to pay down debt and buy back stock. Investors like the sound of that and the stock is up more than 5% this morning...” (09:25)
• SanDisk: Shares down 3% as Western Digital announces sale of remaining stake (~$3.1B to pay down debt), aiming to avoid tax penalties.
  • “SanDisk was spun off from Western Digital about a year [ago]. Since then, the stock has been on an absolute insane run, up more than 1500%...” (10:01)
  • “Western Digital has a hard deadline to sell. If they don’t unload their shares before February 21, they get hit with a major tax penalty.” (10:25)

7. CEO Turnover at Record Highs

• Trend: 1 in 9 CEOs at top 1,500 U.S. companies were replaced last year – highest since 2010.
  • “US companies are replacing CEOs at the highest rate in 15 years... That’s the highest turnover rate since 2010, and things aren’t slowing down this year.” (11:12)
• Younger, less experienced leaders: Avg. incoming CEO is now 54 (down from 56); >80% have never run a public company.
  • “What’s interesting is that these new CEOs are getting younger and less experienced... More than 80% of these CEOs have never ran a public company before.” (11:41)
• Drivers: AI disruption and boards’ appetite for fresh perspectives; decreased tolerance for underperformance.
  • “We’re going through big technological changes right now with AI, and I think these boards are looking for newer, fresher ideas on how to move forward...” (12:10)
• Looking ahead: Expect more CEO turnover as the pace of industry change accelerates.

Notable Quotes & Memorable Moments

• On Meta’s AI chip deal:
  “Meta is committed to spending up to $135 billion on AI this year alone, and up to $600 billion on data center infrastructure by 2028.” (04:35)

• On Uber’s evolving strategy:
  “They’re banking that self-driving cars become a commodity and all these robo taxi companies are going to be on Uber’s platform to get riders.” (08:45)

• On CEO turnover trends:
  “US companies are replacing CEOs at the highest rate in 15 years... That’s the highest turnover rate since 2010, and things aren’t slowing down this year.” (11:13)
  “More than 80% of these CEOs have never ran a public company before... they want someone new coming in bringing fresh ideas.” (11:41)

• Host’s reflection on the current market:
  “There just isn’t much momentum in the market right now. There’s confusion and volatility but but no rally. In fact, it’s become a good market for stock pickers because the S and P is basically flat for the year.” (03:40)

Timestamps for Important Segments

• Software & Market Update: 00:30 – 02:00
• Berkshire Hathaway Q4 Moves: 02:00 – 03:00
• Commodities & Stock Pickers’ Market: 03:00 – 04:00
• Meta-Nvidia AI Chip Deal: 04:00 – 06:30
• Uber’s Robotaxi Investment: 06:30 – 09:00
• Caesars Entertainment & SanDisk Stock Moves: 09:00 – 10:45
• CEO Turnover Trends: 10:45 – 12:45

Takeaway

The February 18, 2026 episode of The Rundown captures rapid-fire developments in Big Tech investments, market leadership upheavals, and shifting strategies in the race toward AI and autonomous vehicles. It emphasizes the growing importance of stock picking in flat markets, the scale and intensity of the AI infrastructure arms race, and the increasing pressure on both executives and business models to evolve or risk obsolescence.

Perfect for investors and market watchers seeking to stay on top of headline-grabbing moves—and what they might mean for the future.