Daily Brief United States: Ethereum, Advanced Micro Devices, Sweetgreen, Rain Oncology , Soluna Holdings and more

• The stage is set for a potential resurgence of NFTs in 2024. As crypto wealth increases, spending on NFTs for “flexing”, identity, and entertainment will rise.
• A few NFT Character Brands could explode into mainstream consciousness and grow exponentially. Others will remain as niche communities.
• Ethereum will lose market share in NFTs, and Solana could catch up.

• AMD’s resurgence against a dominant Intel saw the company grow annual revenues >4x between 2017 and 2022
• FY 2023 revenue is likely to be down roughly $1 billion or ~4% YoY.
• We expect a combination of renewed Data Center market share growth plus a grand entrance into the AI acceleration segment will restart the party all over again in 2024. 

• The hosts discuss the abundance of bowl lunch options in midtown Manhattan and how it has changed over time.
• They raise the question of how businesses in this crowded market can stand out and win customers.
• The co-founder of Sweetgreen, Nick Jamaic, is introduced as the guest to discuss their success in the salad bowl game and their recent announcement of not cooking anything in seed oils.

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• Rain Oncology (RAIN) is being bought out for $1.16 + CVR worth up to $0.17/share.
• This seems like a worse deal than the $1.25 + CVR Tang was offering, but ok, I will take it.
• Usually these CVR’s should be valued at a large discount to their upper value, so I see no reason to hang around in this one so closing this one for a 15% gain at $1.

• CEO John Belizaire joined WTR’s Tim Regan and Graham Mattison to talk about Soluna’s impressive business turnaround in 2023, including the projects that are online today and their growing adjusted EBITDA contributions.
• Belizaire also talked about new projects under development, incremental revenue sources, and the company’s recently announced AI pilot at Project Dorothy
• 2023 – the turnaround of Soluna. Belizaire talked about the transformation of the company in 2023, coming from the depths of the crypto winter and regulatory delays, to bringing the company’s flagship Project Dorothy online, securing partners at the project level, and then being selected for the 166-MW Project Kati.