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Why would a company generating less than $20 billion in annual revenue spend $60 billion acquiring an AI coding startup?
In this episode of AmplifyME Market Maker, Anthony Cheung and Stephen Barnett take a deep dive into SpaceX's blockbuster acquisition of Cursor and explore the strategy behind one of the most talked-about deals in markets. They break down how Cursor went from startup to a $60 billion acquisition target in just a few years, why investors pushed SpaceX above a $3 trillion valuation following the announcement, and what the deal reveals about AI, venture capital, corporate finance and Elon Musk's long-term vision.
The discussion also explores the unique economics of highly valued companies, how acquisitions can accelerate growth, and why the world's biggest technology firms are racing to secure AI talent and infrastructure.
Plus, a look at Fox's $22 billion acquisition of Roku and the latest developments in UniCredit's ongoing pursuit of Commerzbank.
(00:00) Intro
(01:45) SpaceX & Cursor Deal
(04:38) SpaceX Valuation Debate
(09:08) Deal Structure Explained
(15:33) Shareholder Structure
(18:18) Who is Cursor
(21:16) Cursor Founders
(22:44) The MIT Startup Ecosystem
(29:42) Fox Buys Roku
(36:26) M&A Psychology
(40:13) UniCredit vs Commerzbank
(42:32) Orcel's Takeover Strategy
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In this episode, we shine a spotlight on Debt Capital Markets, a crucial yet often overlooked business function within major investment banks like J.P. Morgan, Bank of America, and Citi.
Join us as we demystify DCM, explaining its unique role within investment banking divisions and the essential personality traits that make individuals well-suited to this area of finance.
From structuring bond offerings to advising clients on debt issuance strategies, DCM professionals play a vital role in facilitating capital raising for corporations and governments worldwide.
Get ready to dive deep into Debt Capital Markets and uncover fresh insights into the ever-evolving world of finance.
(00:00) What is DCM?
(05:50) Working in DCM
(08:36) Skills of DCM Analyst
(13:48) DCM Progression
(14:59) Salary Progression
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Saknas det avsnitt?
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Artificial intelligence is rapidly changing investment banking, but what does that actually mean for M&A professionals and students looking to break into the industry?
In this episode of the Market Maker Podcast, Anthony Cheung and Stephen Barnett explore how AI is being used across mergers and acquisitions, from deal sourcing and due diligence to financial modelling and research. They discuss the rise of specialist finance AI tools such as Rogo, why private equity firms are embracing AI, the risks around automation, and whether junior investment banking roles could look very different in the years ahead.
Most importantly, they examine the skills that will become more valuable as AI reshapes finance careers, including communication, judgment, adaptability and relationship building.
If you're interested in investment banking, private equity, AI in finance, or the future of financial services careers, this episode is for you.
(00:00) How AI Is Changing M&A
(01:49) What M&A Bankers Actually Do
(04:49) Private Equity AI Integration
(06:54) AI Adoption Across Finance
(13:16) Where AI Adds The Most Value
(19:13) Beyond Financial Modelling
(26:38) Who Is Using AI Most?
(28:50) Rogo, Claude & AI Tools
(36:14) The Risks Of AI
(38:52) The Future Of Investment Banking
(42:40) Skills AI Can't Replace
(49:03) Final Thoughts On AI & Careers
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The SpaceX IPO has captured the world's attention, but away from the headlines there are some major macroeconomic developments investors should be watching.
In this episode of the Market Maker Podcast, Anthony Cheung and Piers Curran break down the latest US inflation report, discuss whether the Federal Reserve may avoid further rate hikes despite inflation rising to 4.2%, and analyse why the European Central Bank has become the first major Western central bank to raise rates in response to the recent energy shock.
They also explore the growing political risk in the UK, where a little-known by-election could have significant implications for bond markets, government borrowing costs and the future of Prime Minister Keir Starmer.
Plus, the pair give their predictions on where SpaceX shares could trade after one of the most anticipated IPOs in market history.
(00:00) Intro & Themes in Focus
(01:41) SpaceX IPO Mania
(06:05) US Inflation Hits 4.2%
(14:50) Will The Fed Hike?
(20:11) ECB Hikes Rates
(32:36) The UK By-Election Risk
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The AI IPO race is heating up.
In this episode of the Market Maker Podcast, we break down the latest developments surrounding the SpaceX IPO and OpenAI’s confidential S1 filing to the SEC.
We discuss Goldman Sachs’ huge growth forecasts for SpaceX, the surge in retail investor demand, and why Elon Musk may be positioning SpaceX as one of the biggest AI infrastructure plays in the world.
We also dive into OpenAI’s reported internal tensions ahead of its IPO process, including concerns around governance, leadership and whether the company is truly ready to go public.
If you're interested in AI, investing, IPOs, venture capital or the future of technology companies, this episode gives you a practical breakdown of what’s happening behind the headlines.
(00:00) Intro
(01:03) SpaceX IPO Update
(08:39) Bankers Selling the Vision
(10:35) Retail Demand & Hype
(14:20) OpenAI Files for IPO
(18:57) OpenAI’s Internal Issues
(22:59) Why CEO/CFO Tension Matters
(24:57) Goldman & Morgan Stanley
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The SpaceX IPO is becoming one of the most fascinating corporate events in modern financial history.
This week on Market Maker, we unpack the latest updates from SpaceX’s live IPO roadshow, including Elon Musk’s influence over the process, Goldman Sachs’ strategy, retail investor demand and the unusual decision to lock the IPO price before bookbuilding even began.
We also explain Anthropic’s IPO filing, why the AI race with OpenAI is accelerating and how Berkshire Hathaway quietly built one of the most powerful business models in the world after its latest $6.8 billion acquisition.
A must-watch episode for anyone interested in investing, IPOs, AI, business strategy and how modern financial markets really work.
(00:00) SpaceX IPO Roadshow
(06:15) S&P Rejects SpaceX
(11:29) Why Banks Are Winning
(19:19) Anthropic Files To IPO
(27:58) Anthropic vs OpenAI
(33:08) Berkshire Hathaway Explained
(39:22) Buffett’s Secret Strategy
(46:40) Berkshire’s Next Move
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What does the World Cup have in common with Wall Street trading desks?
In this episode of the Market Maker Podcast, we break down the hidden financial world behind the biggest sporting event on the planet. From Goldman Sachs’ 100,000-run quant model predicting the winner of the tournament, to the rise of Polymarket and decentralised prediction exchanges, this is the World Cup through the lens of markets, trading and probability.
We explore how bookmakers operate like market makers, why prediction markets are disrupting the betting industry, and how billions of dollars are now being traded on World Cup outcomes. We also dive into the data behind implied probabilities, elo ratings, liquidity, market inefficiencies and why England may be one of the most mispriced teams in the tournament.
Plus, we uncover fascinating ECB research showing how football matches cause trading volume in London markets to collapse in real time.
If you want to understand how finance, probability, trading and sport collide, this episode is for you.
(00:00) The Finance Behind The World Cup
(03:51) How Bookies Really Make Money
(05:48) The Problem With “Smart Money”
(14:03) Prediction Markets Explained
(16:06) Polymarket vs The Bookies
(20:23) Goldman Sachs Predicts The Winner
(23:01) What Is An Elo Rating?
(24:44) Goldman Predictions 5th to 1st
(26:05) Argentina: Winners Slump Factor
(26:54) France: Bracket Drag
(27:26) Why England Is Overpriced
(30:08) Goldman’s Terrible Track Record
(31:40) World Cup Impact On Markets
(35:12) The Economic Boom Of Football
(37:26) Final Predictions & Golden Boot
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In this episode of The Market Maker Podcast, we break down everything you need to know about Elon Musk’s $2 trillion SpaceX empire, the IPO frenzy surrounding the deal, and whether this is the investment opportunity of a generation or the biggest bubble on Wall Street.
We analyse the real numbers behind Starlink, XAI, rockets, satellites, AI infrastructure, and the hidden strategy driving Musk’s masterplan.
If there’s one video to watch before the SpaceX IPO launches, this is it.
(00:00) SpaceX Deep Dive Intro
(01:22) Biggest IPO Ever?
(05:39) The $2 Trillion Valuation
(10:45) Why IPO Now?
(13:40) Inside The Prospectus
(15:22) Breaking Down The Business
(18:46) The AI Infrastructure Bet
(27:33) The Space Industry Boom
(32:44) Elon Musk’s Control
(37:26) Wall Street’s IPO Battle
(44:29) Retail Investor Frenzy
(49:51) How To Invest In SpaceX
(53:15) Why Indexes Changed The Rules
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Oil is surging toward $100. Inflation fears are back. The Middle East remains highly unstable. Yet Wall Street trading desks are making record billions and major banks are raising their S&P 500 targets above 8,000.
In this episode of the Market Maker Podcast, Anthony Cheung and Piers Curran break down how geopolitical volatility is creating huge profits for banks like J.P. Morgan and Bank of America through market making, flow trading and hedging strategies.
They also explore whether the AI rally is becoming another dot-com bubble, why semiconductor stocks continue to explode higher and why firms like NVIDIA, Micron and Anthropic are now at the centre of global markets.
The conversation covers oil markets, inflation, Fed policy, AI infrastructure spending, hedge fund trading mechanics, risk management and the future of the AI supercycle, explained in a way that is accessible for students, investors and anyone interested in financial markets.
The episode also finishes with practical recommendations for free macro and finance resources to help students improve commercial awareness and stay ahead of market trends.
(00:00) Oil, Iran & Market Chaos
(05:40) Inflation, Rates & The Fed
(08:07) Why Wall Street Is Printing Money
(13:00) Flow Trading Explained
(18:50) How Banks Hedge Risk
(23:15) Jane Street & Quant Trading
(31:13) Why Stocks Keep Rising
(32:20) AI Bubble or Supercycle?
(37:56) The Most Important AI Company
(40:10) SpaceX’s $28 Trillion Bet
(44:19) Goldman’s 8,000 S&P Call
(47:10) Best Free Macro Resources
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Most students know they need to “network” to break into finance. Very few are told how to actually do it properly.
In this episode of the Market Maker Podcast, Anthony Cheung sits down with corporate finance analyst Liam Edward Proctor to break down how students can build relationships, stand out in applications and navigate finance careers without coming from a traditional background.
Liam shares how he went from a non-target university into corporate finance, common networking mistakes students make, how to approach coffee chats, LinkedIn strategies that actually work and why commercial awareness matters more than ever in today’s graduate market.
The conversation also explores rejection, imposter syndrome and how students can create opportunities beyond simply submitting online applications.
If you’re applying for internships, spring weeks or graduate roles in finance, this episode is packed with practical advice you can apply immediately.
(00:00) Liam’s Finance Journey
(01:59) Do You Need Internships?
(04:33) What vs Who You Know
(06:48) Coffee Chat Preparation
(08:34) Building Commercial Awareness
(13:29) Leveraging LinkedIn & Imposter Syndrome
(16:55) Meeting Howard Marks
(22:00) Handling Rejection
(26:39) Non-Target University Advice
(30:08) Networking Follow-Up Tips
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In this episode, we break down a surge in global dealmaking, from a $67 billion mega-merger in US utilities to private equity circling Magnum Ice Cream, and why UK takeovers are suddenly booming despite negative headlines.
We explain how AI demand is reshaping entire industries, especially energy, infrastructure, and data centres, and why that’s triggering a new wave of consolidation. You’ll also learn how deals are actually financed, using a real-world bond issuance example to connect the dots between M&A and capital markets.
And to finish, we look at one of the wildest stories in markets right now: a TikToker trying to raise money to buy a bankrupt airline… and somehow getting hundreds of millions pledged.
If you’re looking to break into finance or want to better understand how deals really work, this episode gives you a front-row seat to the mechanics, strategy, and trends shaping today’s M&A landscape.
(00:00) Intro & Themes in Focus
(01:57) $67BN NextEra AI Power Deal
(04:09) Credit Ratings & Deal Strategy
(13:27) Deals Flow Despite Macro Headwinds
(14:21) Magnum & Private Equity
(18:12) How Deals Get Financed
(26:20) Where M&A and DCM Meet
(29:07) UK Takeover Boom
(35:57) TikToker Buys an Airline?
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Markets are ripping higher, but why? In this episode, we break down the relentless rally in US equities and why the AI boom is overpowering inflation fears, geopolitics, and rising yields.
We explain what’s really driving the S&P 500, why market breadth is narrowing, and whether this rally is starting to look fragile. Then we dive into the IPO frenzy around SpaceX, OpenAI, and Anthropic and what it means for investors and liquidity.
Finally, we simplify Nvidia’s latest earnings and its next-gen “Vera Rubin” system, explaining why this could be the backbone of the future AI economy.
(00:00) What’s Driving the Market Rally?
(05:00) AI vs Macro: Why Markets Don’t Care
(08:12) Is This Rally Running Out of Steam?
(15:18) SpaceX IPO & AI Hype Explained
(26:13) Nvidia Earnings & The Future of AI
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In this week’s episode, we break down one of the wildest stories in AI right now, Anthropic’s eye-watering $900 billion valuation, and ask whether fundamentals still matter in a market driven by momentum and FOMO.
We also dive into the surprising shift in global drinking habits, why giants like Diageo are struggling, and how viral products like BuzzBallz are reshaping the alcohol industry.
Finally, we revisit the private credit boom and explore whether cracks are starting to show, as banks step back in and investor sentiment begins to turn.
Let us know your thoughts in the comments - where do you think Anthropic’s valuation lands by the end of 2026?
(00:00) Intro & Themes in Focus
(02:04) Anthropic's $900B Valuation?!
(12:50) No One’s Drinking? BuzzBallz Boom
(30:37) Private Credit Cracks Showing?
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In this episode of the Market Maker Podcast, Anthony Cheung sits down with Ignacio Ramirez Moreno, fixed income advisor, CFA Charterholder, LinkedIn creator, and host of The Blunt Dollar podcast.
They discuss how to stand out in finance in the age of AI, Bloomberg Terminal tips and hidden functions, why curiosity matters more than technical skills, and how to build a personal brand on LinkedIn.
Ignacio also shares CFA advice for students and professionals, the daily habits and mindset of successful finance professionals, how to turn market news into valuable insights, and career lessons learned from interviewing top finance leaders.
Whether you're a student, graduate, analyst, or already working in finance, this episode is packed with practical insights you can apply immediately.
(00:00) Intro
(02:00) Turning market news into insights
(05:35) Bloomberg Terminal functions every finance student should know
(09:50) How to post consistently on LinkedIn
(13:18) High-decay vs low-decay content
(16:05) The Blunt Dollar podcast & career lessons
(20:37) Why curiosity matters in finance
(23:36) AI and the future of finance careers
(28:35) CFA advice for students & professionals
(34:31) What a fixed income advisor actually does
(41:30) Career advice nobody teaches at university
(45:42) The importance of relationships in finance
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This week on the Market Maker deals show, Anthony and Stephen break down the biggest corporate finance stories moving global markets. They unpack UniCredit’s hostile takeover battle for Commerzbank and why CEO Andrea Orcel is being labelled “The Shark” as European banking consolidation heats up again.
They also dive into GameStop’s shocking $55bn bid for eBay, Ryan Cohen’s chaotic CNBC interview, and the mechanics behind meme-stock dealmaking.
Finally, they explore how Eli Lilly became one of the world’s most valuable companies, why it just raised $9bn in bonds, and how pharmaceutical giants use acquisitions to defend their blockbuster drug pipelines.
Whether you're aiming for banking, asset management, accounting, private equity, or advisory, this is essential insight to stay ahead of the curve.
(00:00) Intro & Researcher Opportunity
(03:04) UniCredit vs Commerzbank
(18:50) GameStop’s $55BN Bid for eBay
(32:18) Eli Lilly’s $9BN Bond Raise & M&A Strategy
Connect with Anthony on LinkedIn
Watch the CNBC interview with GameStop CEO Ryan Cohen
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Bond yields are surging, with the US 30-year pushing 5% and UK yields near multi-decade highs but why does it matter?
In this episode of the AmplifyME Market Maker Podcast, we explain how rising yields impact your mortgage, stock valuations, and the global economy. From the “risk-free rate” to inflation expectations and central bank policy, we break down the key drivers behind one of the most important forces in markets right now.
Despite booming stock markets, bond markets are signalling risk. The question is: who’s right?
(00:00) Why Bond Yields Matter
(03:00) The 5% Yield Level
(06:06) Impact on Mortgages
(07:48) Risk-Free Rate Explained
(12:27) Stocks vs Bonds Disconnect
(14:38) Inflation Expectations
(16:58) Trading Opportunities
(23:35) Stocks Rip Higher
(25:36) S&P Earnings Growth
(26:43) UK Political Risk
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Private credit is one of the fastest-growing areas in global finance but what actually is it, and why is everyone talking about it?
In this episode of the Market Maker Podcast, we break down private credit in simple terms: how it works, why it’s grown into a $3 trillion market, and the key players driving it, including Blackstone and Blue Owl.
We also go deeper into:
Why private credit exploded after the 2008 financial crisisHow it differs from traditional bank lending and public debtWhat a Business Development Company (BDC) isWhy institutional investors are pouring money into itThe risks, defaults, and whether this could become a systemic issuePrivate credit offers higher returns than traditional debt but with that comes important trade-offs around liquidity, transparency, and risk. We explore whether the concerns you’re seeing in the media are justified or overblown.
If you’ve seen headlines about private credit and want a clear, no-nonsense explanation, this episode is for you.
⏱️ Timestamps:
(00:00) What is private credit?
(00:58) How it works (simple explanation)
(03:19) Why it’s grown so fast
(05:48) Inside Blackstone Strategy
(11:05) Blue Owl & BDCs explained
(15:31) The risks & “financial crisis” debate
📩 Got questions? Drop them in the comments, we’ll be jumping in to answer.
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This week, we unpack what’s really happening in IPO markets.
From a Hong Kong listing surging nearly 400%, to breaking down how IPOs actually work (including the “green shoe” mechanism), to Revolut’s long-term IPO ambitions — and why UK listings like RAC are being delayed.
If you’re trying to understand how companies go public and what’s driving today’s market, this is a simple, real-world walkthrough.
(00:00) IPO market overview
(02:41) Hong Kong’s IPO surge
(12:05) How IPOs work (green shoe explained)
(20:58) Revolut & fintech vs banks
(29:01) UK IPO struggles & RAC delay
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What’s driving markets right now? In this episode of the Market Maker Podcast, we break down the Fed’s policy split, oil prices surging above $120, and the growing risk of stagflation. We also analyse Big Tech earnings, why Google outperformed Meta, and the escalating AI battle between OpenAI, Anthropic, and major tech giants. If you want clear insights on markets, inflation, and where things are heading next, this episode has you covered.
(00:00) Intro & Market Overview
(01:52) Fed Decision & Rate Outlook
(11:29) Oil Surge & Geopolitics
(19:19) OPEC, UAE & Supply Dynamics
(25:14) Big Tech Earnings Breakdown
(33:39) AI Race & OpenAI Concerns
Find out more about our role-specific simulations for attraction, training and assessment in early careers in finance at www.amplifyme.com
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What happens when an AI model is considered too powerful to release?
In this episode of the Market Maker Podcast, we unpack one of the most bizarre and important stories in tech right now, as Anthropic’s Mythos model sparks debate about whether AI companies are building the future or just mastering the art of hype.
From a strange moment involving an AI sending emails while its creator was eating a sandwich, to the wider implications for cybersecurity and global power, this story raises bigger questions than it answers.
We also explore the potential collapse of LIV Golf after billions in Saudi investment and what it tells us about the limits of capital when strategy doesn’t deliver results.
Finally, we break down the news that Apple CEO Tim Cook is stepping down after 15 years, what his legacy really is, and what the shift to a product-focused successor could mean for the next era of the world’s most valuable company.
If you want to understand the stories moving markets without the noise, this is the place.
(00:00) Intro & Topics in Focus
(02:27) What is Claude Mythos
(09:02) Hype or Real?
(13:55) LIV Golf Crisis
(22:24) Tim Cook Exit
(28:35) Apple Succession Plan
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- Visa fler
