that was the product of a spac four years ago. it was working on a hydrogen engine for a truck. profits, no thank you. finally, some chinese companies are starting to pop up on our radar. most chinese stocks are down, which makes sense given president-elect trump's attitude, some specific stocks have soared. near the top of the list is king soft holdings, a chinese cloud software provider with 152% gain for the month. there was another company that's uxin, the chinese carvana that we would have included before it fell 20% today. a company that appears to have -- i just pivoted. by the way, i'm skeptical of any company that total transforms its business model overnight. regular viewers know i'm not really much of a fan of chinese stocks aside from the true heavy hitters like alibaba but i bring the speculative ones up because we get the second largest chinese ipo when pony a.i. becomes public. it's seeked 4.5 billion valuation. it raised shares amid rumors uber would be buying into the deal. i have no edge on pony a.i. but the largest chinese ipo of the year, zeekr up $2 from its

what is interesting is this company went public via spac.ank's vision fund had flipped this company. we are looking more at softbank. the company is aiming to increase its stake in openai, acquiring up to $1.5 billion. that is according to sources. mark bergen joins us now. softbank is always active, their particular he active in artificial intelligence. how will they access this money? mark: they have been relatively quiet after the big spurt we saw from 2017 to 2021. they are now all in. they are limited to 500 million. now they have this arrangement where they are able to do a secondary share sale from openai that will free up 1.5 billion and give him his opportunity to get this transformational company. caroline: he has already put some money to work. $1.5 million is a lot of employees selling. do we think they will meet that mark? mark: my expectation is openai did a lot of the math before hand. it will be curious to see if some employees hold on to it, they will be able to make more later on. this is something sam altman has talked abo

marissa parra joins us from the telemundo center in miami with the latest st on this new spac race.ut for people watching, this is very different than a lot of the launches you and i talk about on here. this is not a launch the international space station where they're there for three months, six months, all of it lasted less than ten minutes. blue origin is very different. these space launches are actually going to suborbital space if we will. we're talking about vertical launch, vertical landing, they spend all of ten minutes in total with this whole experience. but there were a couple of things that made this different. this was the ninth crude flight with the re-useable new shepherd and there was a couple of firsts. the second trip for a married couple, they held up a number two sign to document this momentous moment because this is the first time that a married couple has taken two space flights together. and then top left, emily calandrelli, the space gal, she is big on educating women and in s.t.e.m. and inspiring the next generation of space explorers. this was her, a woman,

liz: it was spacs too. >> well they are the only instrument that flattened and reversed the decline in 30 years so they are not perfect. i've written columns about potential reforms, but nonetheless, the biden sec went from 1,035 ipo's under president trump down to 180. that's a 90% cut. we've got to get that reversed and make sure that it's less expensive to go public. liz: there is an etf called the renaissance ipo etf and it has spiked over the last year under president biden by 34%. so, i believe that there are ipo's that people want to invest in and the quality must be good. >> well, i don't know, i'm not sure i'd go that far. remember, when you cut the number of stocks this dramatically, and money is still flowing into people's retirements accounts every two weeks from their paychecks that money has to go somewhere, so, as you i'm sure well know, the top 10 stocks in the s&p 500, account for one-third of its value. so we're all being crowded into the same stocks, in our retirement accounts so, i think it's hard to know whether ipo's are going up because it's quality companies or

that was that real excitement, spacs and unprofitable tech ipos, meme stocks and all the rest.ything crypto adjacent. i'm not saying the market's gone fully crazy. we're not even back to early 2021 levels, but it is interesting to me that this is the kind of activity that's gotten kicked off. the average large cap index, andrew, is hanging in there, and doing what it really should do seasonally and based on longer term trends. >> mike, two questions. you look at robinhood/coinbase chart you're looking at there. the thick i'm unclear about, should we think about them in the same sentence always or do you think about them in two different sentences? robinhood's business does have a crypto component but for the majority of the business, it is not crypto. >> the business of the -- the majority of the business is noncrypto but the revenue is crypto and options. in terms of the idea of what's going to be a bigger part of the mix down the road, it's probably crypto. more importantly, it's crypto and a lot of the other retail trader oriented plays, they travel together. they're kind of

>> high level with the first two, lutnick, i was a client of his for a d-spac.ness. both of these folks were extremely accomplished in their own way. i would look at what the journal put out last night and they were spot on. you don't want to do what musk is saying, go in there and blow things up. that's probably one department i don't feel that way as a market participant. you need someone that will create confidence with their abilities for macro economic perspective and their credibility. that's a quality i would look for. at the same time, this is really important and needs to inform almost every pick the president makes is how do you take someone that is accomplished in the field but at the same time is going to incorporate some of the more innovative, i'd say, elements of this america first trump policy? specifically with respect to treasury, you have to have somebody who has all the things i described but at the same time is going to get on board with dodge and cutting as well as the tariffs. that is why sometimes it takes us longer to find people because