Klarna’s IPO Pop, AI challengers emerge in UAE and China, & the Anglo-Teck copper merger

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Dear Money Master,

This week is packed with disruption across industries. 🇦🇪 The UAE has jumped into the AI race with its low-cost K2 Think model, challenging both OpenAI and China’s DeepSeek, while 🤖 China’s Unitree Robotics is preparing a $7B IPO to cement its lead in humanoid robots. 🚗 At the same time, Chinese EV makers GAC and Xpeng are intensifying their European push, threatening incumbents like BMW and Mercedes.

On Wall Street, 💳 Klarna’s $15B IPO finally arrived, while 🌐 Mistral AI soared to a $14B valuation with ASML’s billion-euro backing. In resources, 🔋 Anglo American and Teck have merged into a $53B copper powerhouse, securing control over the “metals for AI.”

Finally, on earnings this week, 💹 strong earnings from Casey’s, GameStop, Korn Ferry, and Core & Main highlight resilience across retail, services, and infrastructure.

📰 Your Daily Financial Digest - September 10th, 2025

🌍 Economics & Finance:

1. India Urges BRICS to Address Trade Gaps Amid Tariff Tensions 🇮🇳
   India pressed partners to ease deficits while Trump accused the bloc of anti-American policies. New Delhi says its largest trade gaps are within BRICS itself. Read More

2. Anglo American & Teck Form $53B Copper Powerhouse 🔋
   The Anglo-Teck merger delivers 70% copper exposure, tapping surging demand from data centers, EVs, and renewable grids. HQ will be in Vancouver. Read More

3. Klarna IPO Values Firm at $15B After $40 Pricing 💳
   The fintech raised $1.37B on its NYSE debut under ticker KLAR, as early backers took profits after long-held positions. Read More

💻 Technology:

1. UAE Unveils AI Reasoning Model ‘K2 Think’ to Rival OpenAI 🤖
   MBZUAI’s model, built on Alibaba’s Qwen 2.5 and powered by Cerebras hardware, offers low-cost reasoning with just 32B parameters. Read More

2. China’s Unitree Robotics Eyes $7B IPO in Humanoid Race 🦾
   Backed by Alibaba, Tencent, and Geely, Unitree seeks a public listing to fund growth in humanoid robots for industrial and service use. Read More

3. Chinese EV Makers Double Down on Europe 🌍🚗
   GAC targets a 17x sales jump by 2027, while Xpeng plans a global rollout of its budget-friendly Mona brand next year. Read More

4. ASML Buys Stake in Mistral AI at $14B Valuation 🌐
   The chip giant invested €1.3B for 11% ownership, joining Nvidia and Andreessen Horowitz in supporting the French AI startup’s rise. Read More

💹Earnings:

1. Casey’s Reports Q1 Profit Jump of 19.5% ⛽🍕
   The convenience-store chain earned $215M with EPS of $5.77. Strong inside sales (+4.3%) and fuel margins (+18.8% profit) boosted results. Read More

2. GameStop Swings to $169M Q2 Profit, Holds $8.7B Cash 🎮
   The retailer’s net sales hit $972M, up from $798M last year, with $528M in Bitcoin holdings now on its balance sheet. Read More

3. Korn Ferry Q1 FY’26 Revenue Up 5% 📈
   Fee revenue reached $709M, led by Professional Search & Interim (+10%). EPS rose 11% YoY to $1.31. Read More

4. Core & Main Q2 Sales Rise 6.6% to $2.1B 💧
   EPS climbed nearly 15% YoY to $0.70, with new store openings and a Canadian acquisition fueling growth. Read More

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To your financial empowerment, The Money Masters Team

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