Key Takeaways
- AI startup Perplexity has submitted a $34.5 billion offer to acquire Google's (GOOGL, GOOG) Chrome browser, a strategic move that comes amidst potential US antitrust mandates for Google to divest the asset, though analysts suggest Chrome's true worth is closer to $100 billion.
- CoreWeave (CRWV) shares have surged an impressive 35% in under two weeks, primarily fueled by Microsoft’s (MSFT) expanding AI infrastructure spending plans. The company anticipates a 174% jump in Q2 revenue to $1.1 billion, despite projections of no profitability until late 2026.
- Both Brent Crude and US Crude Oil futures saw declines, with Brent settling at $66.12/BBL, down $0.51 (0.77%), and US Crude at $63.17/BBL, down $0.79 (1.24%). This comes as Exxon Mobil (XOM) announced plans for 3D seismic testing off Trinidad & Tobago within six months, potentially leading to well drilling.
AI and Tech Sector Buzz
The tech world is abuzz with significant developments, led by an audacious bid from AI startup Perplexity to acquire Google's (GOOGL, GOOG) Chrome browser. Perplexity has tabled a $34.5 billion offer for the asset, a move that coincides with the possibility of a US antitrust order compelling Google to divest Chrome. However, market analysts quickly pointed out that this bid significantly undervalues Chrome, estimating its market worth to be closer to $100 billion. Perplexity's interest comes amid Google's ongoing antitrust trial, where the Department of Justice has proposed the divestiture of Chrome as a remedy for alleged monopolistic practices in the search market.
In other AI-driven news, CoreWeave (CRWV) has seen its shares skyrocket by 35% in less than two weeks. This impressive rally is largely attributed to Microsoft’s (MSFT) aggressive spending plans on AI infrastructure. CoreWeave, an AI hyperscaler, is now projecting its Q2 revenue to increase by a remarkable 174%, reaching $1.1 billion. Despite a reported net loss in Q2 2025 and expectations of no net profit until late 2026, analysts remain optimistic about near-term gains for CoreWeave due to the soaring demand for specialized AI computing resources. The company recently secured a $2.6 billion delayed draw term loan facility to support the acquisition and maintenance of advanced equipment for its long-term agreement with OpenAI.
Energy Market Movements
The global oil markets experienced a downturn, with both major crude benchmarks closing lower. Brent Crude futures settled at $66.12 per barrel, marking a decrease of $0.51 (0.77%). Similarly, US Crude Oil futures closed at $63.17 per barrel, down $0.79 (1.24%).
Adding to the energy sector's activity, Exxon Mobil (XOM) announced upcoming exploration efforts. The company's Vice President confirmed plans to conduct 3D seismic surveys off the coast of Trinidad & Tobago within the next six months. This seismic work is a precursor to potential well drilling in the region, marking Exxon Mobil's return to Trinidadian waters after more than two decades. The agreement with Trinidad includes a three-phase exploration program, with the potential for significant oil and gas discoveries in the ultra-deepwater blocks.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.