A decade ago, large pharmaceutical companies looked to biotech hubs in the United States and Europe for their next blockbuster drugs. It appears that now, China has overtaken this role. On September 15, 2026, GSK agreed to a deal potentially valued at up to $750 million to acquire global rights to an experimental cancer drug from the privately held Chinese biotech company Chimagen Biosciences. The drug is a trispecific T-cell engager for multiple myeloma that has not even en

For generations, the path for young bankers entering Wall Street was, for the most part, similar. Late nights with heads buried in PowerPoint decks, analyzing numbers and spreadsheets that made heads spin, creating financial statements that stretched pages. But what OpenAI just created may mean humans no longer need to do this work. On September 10, 2026, OpenAI launched ChatGPT for Financial Services. In coordination with Morgan Stanley and Evercore, the system serves as a

After years of hesitation, Wall Street is pouring money back into biotechnology. On September 18, 2026, Electra Therapeutics went public, raising $350 million in one of the year’s largest biotech IPOs. Selling 23.3 million shares at $15 each, the company reached a market value of roughly $1 billion. This decision, however, is part of a much larger comeback. Electra is the 21st biotech company to go public this year. 11 of these companies have managed to individually raise ov

OpenAI has spent years racing to build the most powerful artificial intelligence. That race is now causing the company to put one of the most anticipated IPOs in history on hold. Earlier this year, OpenAI was preparing for an IPO that valued the company at around $1 trillion. Despite potentially being one of the largest listings ever, CEO Sam Altman has decided not to go public in 2026, arguing that current concerns over AI safety make this the wrong time to enter the public

Nvidia has led the AI chip boom. Its dominance doesn’t seem to be stopping anytime soon. On September 3, 2026, Nvidia announced that it would acquire Hugging Face for $12.93 billion, making this acquisition the second-largest in the company’s history. Despite only just reaching its tenth anniversary, Hugging Face has become one of the world’s biggest platforms for AI developers. Referred to as the “GitHub of AI”, the platform serves as the default place where AI projects sta

In early August, a deadline approached for the United States to impose new 50% Section 338 tariffs on $ 20 billion worth of Canadian exports. Both countries met for trade negotiations, and it seemed as if a deal was going to occur, with Canadian negotiators frequently traveling to Washington before the August 19th deadline. And the day before the deadline, Trump announced he would postpone tariffs while alluding to the idea that the countries had come to a deal. Both countrie

Novartis may have just lost a drug that analysts thought could generate up to $6 billion a year. On September 4, 2026, Novartis announced that pelacarsen, its experimental cardiovascular drug, failed a major phase 3 trial. The drug was intended to lower lipoprotein(a), a genetically determined risk factor for heart disease that affects roughly one in five people worldwide. This wasn’t just an opportunity for medicine. From a financial perspective, the commercial stakes were

Private credit has exploded into one of Wall Street’s hottest asset classes. But this week, one of its largest funds reminded investors of an important caveat: private investments do not always come with public-market liquidity. On September 3, 2026, Blackstone revealed that investors had requested roughly $4.3 billion in withdrawals from its flagship Blackstone Private Credit Fund, or BRCD, during the third quarter. Although the requests represented 10% of the fund’s outsta

Few drugs have transformed a pharmaceutical company as quickly as GLP-1s have transformed Eli Lilly. In the second quarter of 2026, Eli Lilly reported $23 billion in revenue, which was a whopping 48% increase from the year before. How they did it? Tirzepatide. Tirzepatide is an injectable medication sold under two brand names. Mounjaro for diabetes and Zepbound for obesity. Mounjaro generated $9.9 billion in quarterly sales, while Zepbound added another $4.9 billion. Together

Within 48 hours, two of the most dominant artificial intelligence companies released their brand-new models. Anthropic pushed out Claude Fable 5.1 on September 1, 2026, followed by OpenAI’s release of GPT-6 Astra on September 3, 2026. The two models are the most capable of their predecessors, and both currently sit atop the AI benchmark rankings. However, the more important story may be what their releases mean for where the AI race is heading next. For years, competition rev

Would you take a chance on a drug that is unfinished but could generate billions in future revenue? For the world’s largest pharmaceutical companies, the answer is yes. Rather than discovering a drug from scratch, Big Pharma has increasingly begun licensing and acquiring drugs from smaller biotech companies or outright buying the companies as a whole. However, they aren’t investing in a finished result, but in a set of rights, patents, and pipelines. While you may think they

The United States is renowned for attracting the world’s smartest scientists, researchers, and entrepreneurs. High salaries, leading universities, and enormous amounts of research funding make America one of the best places in the world to build a career. Recently, that trend seems to be reversing. One Nature survey found that 75% of researchers in the U.S. are considering leaving the country. Applications from American scientists seeking jobs in Canada increased by 41%, and

Peter Thiel is one of Silicon Valley’s wealthiest and most influential investors; unlike Elon Musk and Mark Zuckerberg, though, most of his fortune doesn’t come from one single company. Thiel has spent decades building a network of investments across various industries like technology, finance, defense, and politics. His rise began with PayPal. After initially investing $100,000 into the company that became PayPal, he received an even bigger payout after eBay acquired it in 2

The video game industry should be having its best years ever. More people are playing games, spending more time playing, and buying more in-game content. The video game industry currently generates between $200 and $350 billion in annual revenue, making it one of the largest forms of entertainment in the world. However, many of the companies behind these games are struggling internally. One of the major problems is that gamers are spending more time playing fewer games. In 20

Exactly two years ago, Leopold Aschenbrenner launched a hedge fund centered around one core idea: artificial intelligence was going to reshape the economy. He managed to raise $225 million from prominent Silicon Valley figures such as Patrick and John Collison, Nat Friedman, and Daniel Gross. For a while, the bet worked; through an explosive 439% return in the first half of 2026, Aschenbrenner and Situational Awareness scaled that initial seed capital into upwards of $45 bill

You may have heard that over the past few years, some of the world’s largest tech giants have laid off tens of thousands of employees. Meta alone has eliminated almost 40,000 positions through multiple rounds of cuts. Other big names like Google, Amazon, and Microsoft have all announced major layoffs of their own. However, despite cuts, these companies still employ almost the same number of people as they did before the layoffs. So what’s the point? Originally, companies arg

Over the past several months, oil prices have been fluctuating wildly. Some days, reports of peace talks between Iran and the US send prices lower. Later, new attacks in the Strait of Hormuz push them right back up. This cycle has repeated itself so many times that investors are wondering why the market continues to react so strongly to new headlines. Part of the reason is that oil futures are not just investments; they are critical to the global economy. Shipping companies,

One of the most common places people learn about investing today is social media. A FINRA survey found that 61% of adults between 18 and 34 have made an investment decision based on advice that they received from a social media post. With financial content continuing to grow online, many regulators are becoming concerned about how investments are being promoted. A rising concern deals with influencers being paid to promote publicly traded companies without properly explainin

Last year, private equity had one of its biggest years ever, with many firms completing hundreds of billions of dollars in acquisitions and sales. At first glance, this looks like one of the most successful years for the industry. However, recent events reveal that the market may not be as healthy as the numbers suggest. Over the past few weeks, many warning signs have appeared. BlackRock, one of the largest asset managers, limited withdrawals from its private credit funds. A

Although vehicle sales have remained exceptionally strong, this year has been one of the roughest in decades for the world’s largest automakers. The most famous automakers like Toyota, General Motors, Ford, Volkswagen, Nissan, and Stellantis have all reported major profit declines. Furthermore, Honda posted its first annual loss in almost a century, and Porsche and Jaguar both had profits fall by about 99%. These losses come as a surprise, since global vehicle sales have grea