Sponsored by Cytophage Technologies

Palantir Co-Founder Sells $310M Stake

Palantir Technologies (Nasdaq: PLTR) President and Co-founder Stephen Andrew Cohen has offloaded nearly all his holdings in the data analytics company, selling 3.75 million shares worth approximately $310 million, according to regulatory filings.

The transaction, executed on March 12 at an average price of $82.75 per share, left Cohen with just 592 shares in the company he helped establish.

You can read more on the matter here.

What’s going on?

• Ceasefire Breaks As Israeli Forces Attack Gaza (theDeepDive)

• Donald Trump and Russia’s Vladimir Putin start phone call on ending the war in Ukraine (Globe)

• Is Trump Going to Recognize Russian Control of Crimea? (theDeepDive)

• New US Home Construction Rebounds After Storm-Ridden Month (Bloomberg)

• Trump To Release JFK Files: “You Can’t Redact” (theDeepDive)

• Mark Carney invites Zelenskyy to G7 summit in June (CTV)

• Trump Administration Defies Judge’s Order to Turn Back Deportation Flights of Venezuelan Migrants (theDeepDive)

• IRS Retreats From Some Audits as Agency Slashes Workforce (WSJ)

• Canada Is Also Reconsidering F-35 Fighter Jet Purchase As US Tensions Escalate (theDeepDive)

• Annual rate of inflation accelerates sharply to 2.6% in February as tax break ends (CBC)

What’s the latest?

• Google: Google will acquire Wiz, a cloud security startup, for $32 billion in an all-cash deal, its largest-ever acquisition, expected to close in 2026. Wiz, founded in 2020, achieved $100 million in annual recurring revenue within 18 months and previously rejected a $23 billion offer due to antitrust concerns. Wiz’s products, which will remain compatible with AWS and Azure, are expected to enhance Google Cloud’s security offerings amid rising AI and cybersecurity threats. The acquisition may face regulatory scrutiny, though expectations are higher for approval under President Trump’s administration.

• Inflation: Canada’s annual inflation rate surged to 2.6% in February, up from 1.9% in January, as a temporary tax break ended mid-month, surpassing economists’ expectations of 2.2%. Without the tax break, inflation would have been 3%, with restaurant prices contributing most to the increase. Travel tour costs rose 18.8% due to increased U.S. travel, while gas prices rose 0.6% month-over-month but showed a slower annual increase. The Bank of Canada cut rates by 0.25 points to 2.75% and may cut rates again, though inflation volatility could complicate future decisions.

• Canadian Farmland: Canadian farmland values increased by 9.3% in 2024, down from 11.5% in 2023 and 12.8% in 2022, marking a slowdown amid declining farm revenues. Saskatchewan saw the largest growth at 13.1%, followed by British Columbia at 11.3%, while other provinces experienced single-digit increases. An 11.8% drop in field crop receipts and ongoing U.S. tariffs, along with trade tensions with China, are adding uncertainty and could further weaken farmland demand. Farm Credit Canada warns that prolonged trade disruptions may significantly impact revenues despite falling interest rates.

• BYD: BYD, China’s largest EV maker, announced an ultra-fast EV charging system capable of fully charging its latest EVs in 5-8 minutes, comparable to refueling a gas vehicle. BYD plans to install over 4,000 of these stations across China, boosting its competitive edge after producing 4.3 million new energy vehicles in 2024, including 1.8 million EVs. BYD slightly outpaced Tesla’s battery EV production in 2024, with 1,777,965 units versus Tesla’s 1,773,443. Despite this growth, JD Power ranked BYD’s Seal and Song Plus models lowest in initial quality among new energy vehicles in China.

• AI: Google announced new health-related features for Search, including “What People Suggest,” which uses AI to aggregate online commentary from patients with similar conditions, available on mobile in the U.S. It also expanded knowledge panels to cover thousands more health topics in multiple languages. Despite dissolving its Google Health unit in 2021, Google remains focused on healthcare through AI initiatives, including MedLM, its health-specific AI models, and Vertex AI Search for clinicians. However, concerns remain as a panel of experts deemed 70% of Google’s AI health overviews risky.

Wheaton Q4 Earnings

The stock market and stuff

• Is US Revaluing Gold In A Bitcoin Bill? (theDeepDive)

• Toronto excludes Tesla from EV incentive due to US trade war (Reuters)

• Short sellers make $16bn profit from Tesla’s share price plunge (FT)

• Palantir Co-Founder Dumps $310 Million in Shares After 31% Stock Drop (theDeepDive)

In the juniors

• SNDL Reports Record Annual Revenue in 2024, But Still Posts An Operating Loss (theDeepDive)

• G2 Goldfields Makes New Discovery On Proposed Spin-Out Claims (theDeepDive)

• Canada Nickel Launches RoyaltyCo, Sells Partial Interest For $8 Million Cash, Shares (theDeepDive)

• enCore Energy To Sell Off New Mexico Assets For Mix Of Shares, Royalties, Cash (theDeepDive)

• Palisades Drops $500K On New Bullion Strategy (theDeepDive)

FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.