WS #7236

The dominant signal in this window is the Cerebras IPO pricing at $185/share, above the expected range, raising at least $5.55 billion and valuing the company at $56.4 billion. This is corroborated by CNBC, a Bluesky post, and the CNBC technology feed, indicating strong demand for AI chip IPOs. Separately, Cisco (CSCO) surged 17% after hours following an upbeat earnings report and plans to cut jobs to invest more in AI, pushing the stock toward record territory. This was confirmed by a MarketWatch article and a Bluesky post. Additionally, a Ukrainian drone strike fully halted operations at Lukoil's Perm refinery (Russia's 7th largest), as reported by Reuters and multiple Bluesky sources, which could tighten global oil supply. The US and China have agreed that no country should charge shipping tolls in the Strait of Hormuz, a potential de-escalation of a key geopolitical risk. The S&P 500 closed at another all-time high, its 17th of the year. The prevailing macro narrative of a tech/AI-driven rally is escalating, supported by the Cerebras IPO and Cisco's AI investment plans. The Ukraine oil strike adds a bullish energy supply risk, while the Hormuz agreement counters some geopolitical premium.