Yosief K. Afewerki

Today's take: Nvidia - NVDA, has surpassed silver as the second largest asset in the world. AI hopes is continuing to push stock price of tech companies like Apple and Alphabet. Alphabet is inches away from hitting $5 Trillion market capitalization.

US April CPI is released today. The index has risen 0.6% seasonally adjusted. 40% of this is accounted for by rising energy costs. Beyond energy, prices increased for several essential categories. Shelter rose 0.6%, food rose 0.5%, other core services rose 0.5%. The CPI for March 2026 was 0.9%.

Markets were relatively resilient today, with the resilience mainly attributed to the strong AI-driven earnings momentum.
In Canada, the S&P/TSX Composite Index rose about 0.3% and approached a three-week high, helped by strong gains in gold, mining, and energy stocks.
Canadian markets were supported by rising commodity prices, with companies like Barrick Mining, Teck Resources, and First Quantum Minerals leading gains.
U.S. stock markets finished slightly higher, with the S&P 500, Nasdaq, and Dow all posting modest gains.
Technology and semiconductor stocks led the market again, driven by continued enthusiasm around artificial intelligence.
Intel rallied strongly after reports of a potential chipmaking partnership with Apple.
Investors remained optimistic because corporate earnings have broadly exceeded expectations this quarter.
AI-related companies continue to attract the majority of investor attention and market inflows.
Oil prices rose sharply due to tensions in the middle east, raising concerns about renewed inflation pressure.
Energy stocks benefited from higher oil prices, while airlines and some consumer sectors weakened.
Bond yields moved higher as traders worried the Federal Reserve may delay interest rate cuts if inflation stays elevated.
European and Asian markets were mixed, though many tech-focused markets also gained from AI optimism.
Overall, today’s market reflected a balance between strong AI-driven growth optimism and growing concerns about inflation, oil prices, and interest rates.

EQ Bank is aquiring PC Financial from Loblaw's. This enables EQ Bank to be the exclusive financial partner for Loblaw's loyalty program. The loyalty program within PC Financial known as PC Optimum has 18 million members and acquiring PC Financial will give EQ Bank access to this member base which is an opportunity to drive growth and competition in the industry.

With this deal EQ Bank will also be acquiring the more than 2 million credit card users of PC Financial expanding its portfolio into consumer credit and growing its customer base to roughly 3.3 million Canadians.

Dreaming? I think not.

AI is starting to spend money for you

One of the most fascinating developments right now is how artificial intelligence is starting to actively participate in financial transactions—not just analyze them.

Companies like Visa are already preparing for a world where AI agents can make payments, complete transactions, and manage finances automatically. This is in direct correlation with AI “agents” advancing ability to make payments on behalf of users.

Current AI systems can:

Automatically complete purchases, execute B2B payments, handle microtransactions at scale.

In simple terms: software is starting to act like a financial decision-maker.

This isn’t just a tech upgrade—it’s a fundamental shift in fintech: from tools to autonomous finance.
Traditionally Apps helped you manage money, now AI can decide and transact for you.

AI agents could trigger millions of small automated payments resulting in explosion of transaction volume.

This plays directly into companies like Visa’s strength in payment infrastructure.

Concurrently it creates a new competition layer. Fintech is no longer just banks vs startups. It’s now payment networks, AI platforms, embedded finance ecosystems.

This trend isn’t isolated—it’s part of a broader shift. To mention some:

• AI adoption in finance is surging, with nearly half of consumers using AI for financial decisions.
• Companies like SoFi Technologies are seeing strong growth in users and loans, but markets are becoming more demanding on profitability.
• New players (like AI-driven fintech apps) are building entire products around automation and machine learning.

The takeaway is this:

Fintech is entering a new phase. It is no longer just digital banking and mobile payments. It is now autonomous finance powered by AI.

And the key question now becomes:

If AI starts making financial decisions, who controls the money—the user, the algorithm, or the platform?

The summer of 2006 was a pivotal moment that could have dramatically altered the history of Facebook—and how we know it today. That year, Yahoo made a bold move to acquire the young social media company, presenting a $1 billion offer to its 22-year-old founder, Mark Zuckerberg. At the time, Facebook had fewer than 10 million users, making the offer appear extraordinarily generous. The company’s board saw it as a major opportunity and strongly encouraged Zuckerberg to accept.

However, Zuckerberg believed deeply in Facebook’s long-term potential and was reluctant to sell. Around the same time, the platform experienced a temporary decline in user traffic. In response, Yahoo reduced its offer to $850 million. This revision was viewed unfavorably by Zuckerberg and ultimately made his decision to walk away much easier. His refusal created internal tension, leading several executives—who had supported the sale—to resign.

In hindsight, Zuckerberg’s decision is widely regarded as one of the most consequential in tech history. Facebook, now known as Meta Platforms, continued to grow exponentially and, as of April 2026, is valued at over $1 trillion. In contrast, Yahoo—once valued at approximately $40 billion in 2006—is no longer a publicly traded company and is worth approximately $5 billion.

I doubt this could hardly be called a surprise.

Microsoft and OpenAI are no longer exclusive. 💔

Rogers communications is offering voluntary buyouts or departure packages to approximately half of its employees.

AI stocks now dominate 45% of S&P 500 market capitalization. Fueled by strong AI infrastructure enthusiasm their market share has risen from 22% in late 2022 to 45% in April 2026.