The Rundown – Episode Summary

Podcast: The Rundown (Public.com)
Host: Zaid Admani
Episode: SpaceX Merges with xAI, Palantir Delivers Blowout Earnings
Date: February 3, 2026

Overview

In this succinct, high-energy episode, host Zaid Admani breaks down major market news including SpaceX’s headline-making X.ai merger, Palantir’s stellar earnings, and significant moves from Intel and PayPal. The episode wraps up with a quirky fact linking Disney’s new CEO to the New York Knicks. Investors get quick, clear context for each piece of news and sharp analysis of the financial, strategic, and market implications.

Market Snapshot

• Stock Market:

  • S&P 500 up 0.5%, nearing a new record high
  • Nasdaq gained 0.6%, led by industrial and transportation sectors (00:34)
  • ISM Manufacturing Index jumps to 52.0 in January – first expansion in two years, highest since mid-2022 (01:02)
  • January jobs report delayed due to partial government shutdown

• Commodities:

  • Gold rebounds nearly 10% from Friday’s lows, approaching $5,000/oz
  • Silver up 20% from lows
  • Bitcoin up just 4% despite large purchase by MicroStrategy at $88,000 per coin (02:11)

Key Discussion Points and Insights

1. SpaceX-xAI Merger

• Announcement: SpaceX is merging with xAI in an all-stock deal valuing the combined company at $1.25 trillion, the world’s most valuable private company (03:15)
  • SpaceX valued at $1T
  • xAI valued at $250B
  • xAI investors get 1 SpaceX share for every 4 xAI shares
  • Result: $250B worth of new SpaceX shares issued, diluting current shareholders (04:01)
• Analysis:
  • Elon Musk has controlling stake; can push through controversial deals
  • "SpaceX has the least number of haters for any company... But the same can't be said about xAI, which... burning a ton of cash... and have a ton of haters." (Admani, 04:40)
  • Official rationale: Merging to build AI data centers in space—cheapest, most scalable way to power AI
  • Skepticism: Some suggest merger is to bail out xAI, which burns $1B/month, lacks adoption
  • SpaceX’s potential IPO later this year (possibly June), aiming to raise $50B—the largest IPO ever (06:05)
  • “I feel like the biggest winners here have to be xAI shareholders because they now went from holding xAI stock to having SpaceX stock.” (Admani, 06:47)

2. Palantir's Blowout Earnings

• Highlights:
  • Quarterly revenue: $1.4B (+70% YoY, accelerating from last quarter)
  • Record profit: $609M (up 28% quarter-over-quarter) (07:21)
  • 2026 revenue guidance: $7.2B (well above Wall Street’s $6.3B expectation)
  • US revenue: $1.1B (+93% YoY); US commercial revenue: $507M (more than doubled YoY)
  • Government contracts drive revenue but commercial adoption is rising (07:59)
  • “What really stood out... growth in the commercial side... more and more private companies adopt Palantir’s AI tools.” (Admani, 08:45)
  • The stock rebounded +6.7% after earnings (09:02)

3. Intel and SoftBank Memory Chip Collaboration

• Partnership:
  • Intel and SoftBank developing next-gen memory chips for AI data centers (XAM program)
  • Aim: Faster, energy-efficient chips to meet AI’s growing power and heat demands (09:26)
  • Timeline: Prototypes in 2028, commercial launch in 2029
  • Intel stock up 5% on the news (10:05)

4. PayPal's Disappointing Results

• Performance:
  • Poor Q4 results and weak 2026 outlook
  • Forecasts declining profits (contrasts with Wall Street’s expected 8% growth)
  • Cites intense competition (Apple Pay, Google Pay, Shop Pay, Affirm)
  • CEO fired, replaced by Enrique Lores (ex-HP); tough road ahead
  • Stock down 17% today, >50% in the last year
  • “Personally, I always check out with Apple Pay... it’s the easiest to do. People are using PayPal less and that's hurting their business.” (Admani, 10:56)

Notable Quotes & Memorable Moments

• On the SpaceX-xAI Merger:

  • "Some are saying that Elon is doing this merger to bail out xAI... could be less about data centers in space and more about using SpaceX’s cash flow to bail out xAI." (Admani, 05:41)

• On Palantir’s Success:

  • “Profitability is also scaling fast for the company... record profits of $609 million last quarter, which was up 28% quarter-over-quarter.” (Admani, 07:32)

• On Intel’s Tech Ambitions:

  • “But investors are clearly excited about Intel getting into the AI memory game.” (Admani, 10:12)

• On PayPal’s Downturn:

  • “PayPal’s board fired the CEO and he’s being replaced with Enrique Lores, who ran HP for more than six years. Mr. Lores is stepping into a tough spot though.” (Admani, 11:36)

Fun Fact: Disney’s CEO & The Knicks

• Josh D’Amaro named Disney’s 9th CEO in 102 years—fewer CEOs in a century than the Knicks have had head coaches in 20 years (12:16)
  • D’Amaro rose through Disney, most recently ran Theme Parks division
  • Comparisons: Previous CEO (Bob Chapek) also from Parks, didn’t last; Bob Iger soon to retire for good
  • “Disney has had fewer CEOs in a century than the New York Knicks have had head coaches in the last 20 years. Sorry Knicks fans.” (Admani, 12:48)

Timestamps for Key Segments

• Market Recap: 00:34 – 02:30
• Gold, Silver, Bitcoin Moves: 02:31 – 03:10
• SpaceX-xAI Merger: 03:11 – 06:53
• Palantir Earnings: 06:54 – 09:02
• Intel & SoftBank Collaboration: 09:03 – 10:18
• PayPal Earnings & Shake-Up: 10:19 – 11:47
• Disney CEO Fun Fact & Knicks Comparison: 12:16 – 13:34

Tone: Quick, energetic, slightly irreverent—aimed at giving investors the confidence and context they need in less than 10 minutes.

End Note:
To share your thoughts on the SpaceX-xAI merger or vote on today’s poll, check out the podcast comments on Spotify or YouTube.